Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 106

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 106
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) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ GRANT THORNTON LLP

Philadelphia, Pennsylvania

February 20, 2025

55

Utz Brands, Inc.

CONSOLIDATED BALANCE SHEETS

December 29, 2024 and December 31, 2023

(In thousands, except share information)

As ofDecember 29, 2024As ofDecember 31, 2023ASSETSCurrent AssetsCash and cash equivalents$56,138 $52,023 Accounts receivable, less allowance of $3,267 and $2,933, respectively119,867 135,130 Inventories101,362 104,666 Prepaid expenses and other assets35,269 30,997 Current portion of notes receivable4,622 5,237 Total current assets317,258 328,053 Non-current AssetsAssets held for sale— 7,559 Property, plant and equipment, net345,210 318,881 Goodwill870,695 915,295 Intangible assets, net996,510 1,063,413 Non-current portion of notes receivable9,192 12,413 Other assets189,547 101,122 Total non-current assets2,411,154 2,418,683 Total assets$2,728,412 $2,746,736 LIABILITIES AND EQUITYCurrent LiabilitiesCurrent portion of term debt$16,097 $21,086 Current portion of other notes payable6,917 7,649 Accounts payable150,927 124,361 Accrued expenses and other78,281 77,590 Current portion of warrant liability33,048 — Total current liabilities285,270 230,686 Non-current portion of term debt752,484 878,511 Non-current portion of other notes payable14,985 19,174 Non-current accrued expenses and other164,185 76,720 Non-current warrant liability—