Company: UTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001628280-25-047281
Chunk: 39

Company: Utz Brands, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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. The Company received approximately $18.7 million in advance from Our Home for certain terms under these agreements, which the Company recognized through income from operations over the terms of the transition services and co-manufacturing agreements.

3.INVENTORIES

Inventories consisted of the following:(in millions)As of September 28, 2025As of December 29, 2024Finished goods$74.7 $67.0 Raw materials30.1 27.1 Maintenance parts8.1 7.3 Total inventories$112.9 $101.4 

4.PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, consisted of the following:(in millions)As of September 28, 2025As of December 29, 2024Land$22.8 $25.9 Buildings136.4 113.2 Machinery and equipment334.6 215.5 Land improvements1.9 2.7 Building improvements3.4 2.8 Construction-in-progress46.5 107.4  545.6 467.5 Less: accumulated depreciation(149.1)(122.3)Property, plant and equipment, net$396.5 $345.2 Depreciation expense was $11.1 million and $8.2 million for the thirteen weeks ended September 28, 2025 and September 29, 2024, respectively, and $32.4 million and $25.2 million for the thirty-nine weeks ended September 28, 2025 and September 29, 2024, respectively. Depreciation expense is included in Cost of goods sold and Selling, distribution, and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss). The Company intends to sell two buildings located in Hanover, PA and a tract of land located in Goodyear, AZ.  The carrying value of these assets in the amount of $6.7 million has been reported as Assets held for sale on the Consolidated Balance Sheet as of September 28, 2025.   No impairment has been recognized on these assets.  The Company cannot provide assurance that it will be able to complete the sale of these assets on the terms currently contemplated, or at all, or that the proceeds from such sales will equal or exceed the carrying value of the assets. In addition, the