Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 63

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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.5 $— $71.1 Liabilities:Commodity contracts$— $0.1 $— $0.1 Interest rate swaps— 1.0 — 1.0 Warrants— 9.5 — 9.5 Debt— 865.9 — 865.9 Total liabilities$— $876.6 $— $876.6 The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of December 29, 2024:(in millions)Level 1Level 2Level 3TotalAssets:Cash and cash equivalents$56.1 $— $— $56.1 Commodity contracts— 0.1 — 0.1 Interest rate swaps— 25.0 — 25.0 Total assets$56.1 $25.1 $— $81.2 Liabilities:Commodity contracts$— $1.4 $— $1.4 Warrants— 33.0 — 33.0 Debt— 768.6 — 768.6 Total liabilities$— $803.0 $— $803.0 

10.CONTINGENCIES

Litigation MattersWhile the Company is involved in litigation and other matters incidental to the conduct of its business, the results of such matters, in the opinion of management, are not likely to be material to the Company’s financial condition, results of operations or cash flows.GuaranteesThe Company partially guarantees loans made to IOs by Bank of America for the purchase of routes. The outstanding balance of loans guaranteed that were issued by Bank of America was $63.9 million and $63.5 million at June 29, 2025 and December 29, 2024, respectively, which loans are accounted for as off balance sheet arrangements. As discussed in Note 6. 

12

Notes Receivable, the Company also sold notes receivable on its books to Bank of America during fiscal years 2025 and 2024, which the Company partially guarantees. The outstanding balance of notes purchased by Bank of America at June 29, 2025 and December 29, 2024 was $12.8 million and $11.7 million