Company: UTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001739566-25-000111
Chunk: 20

Company: Utz Brands, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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132 6,762 Accrued freight and manufacturing related costs2,844 3,947 Accrued dividends and distributions11,203 8,594 Accrued interest3,450 11,086 Deferred transition services and other fees (a)167 2,002 Other accrued expenses7,005 4,246 Total accrued expenses and other$57,480 $78,281 

8

(a) See Note 2. Divestitures, for further discussion.Non-current accrued expenses and other consisted of the following:(in thousands)As of March 30, 2025As of December 29, 2024Operating right of use liability$139,237 $132,995 Tax Receivable Agreement liability24,419 24,272 Supplemental retirement and salary continuation plans6,904 6,918 Long-term portion of an interest rate hedge liability310 — Total accrued expenses and other$170,870 $164,185 

8.TERM DEBT, REVOLVING CREDIT FACILITY AND OTHER NOTES PAYABLE

Term Debt and Revolving Credit FacilityOn January 29, 2025, the Company amended its Term Loan B to refinance in full all of the $630.3 million outstanding term loans thereunder, reduce the interest rate from the Secured Overnight Financing Rate (“SOFR”) plus the applicable rate of 2.75% to SOFR plus the applicable rate of 2.50% and extend the maturity date from January 20, 2028 to January 29, 2032, as well as to make certain other changes. Other material terms of the Term Loan B remain unchanged. The Company recorded a loss on debt extinguishment of $0.5 million related to the refinancing of its Term Loan B in its Consolidated Statements of Operations and Comprehensive Income (Loss) for the thirteen weeks ended March 30, 2025.Term debt and revolving credit facilities consisted of the following:Debt (in thousands)Original Principal BalanceMaturity DateAs ofMarch 30, 2025As of December 29, 2024Term Loan B$795,000 January-32$630,335 $630,335 Real Estate Term Loan (1)$88,140 October-3258,978 59,626 Equipment loans (2)$144,837 114,799 83,530 ABL facilityOctober-2750