Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 111

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 111
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944)Tax distribution— — — — — — (4,654)(4,654)Balance at December 29, 202483,537,542 $8 57,349,000 $6 $988,510 $(304,663)$18,590 $702,451 $685,293 $1,387,744 

The accompanying notes are an integral part of these consolidated financial statements.

59

Utz Brands, Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the fiscal years ended December 29, 2024, December 31, 2023, and January 1, 2023

(In thousands)For the Fiscal Year Ended December 29, 2024For the Fiscal Year Ended December 31, 2023For the Fiscal Year Ended January 1, 2023Cash flows from operating activitiesNet income (loss)$30,737 $(40,032)$(14,041)Adjustments to reconcile net income (loss) to net cash provided by operating activities:Impairment and other charges— 12,575 4,678 Depreciation and amortization70,940 79,488 86,801 Gain on sale of business(44,015)— — Gain on remeasurement of warrant liability(10,224)(2,232)(720)Loss (gain) on sale of assets78 7,350 (691)Share-based compensation18,295 17,069 10,632 Loss on debt extinguishment1,273 — — Deferred income taxes14,145 (8,938)(29,359)Amortization of deferred financing costs3,154 1,556 1,933 Changes in assets and liabilities:Accounts receivable, net6,782 1,855 (5,597)Inventories(4,628)12,652 (38,490)Prepaid expenses and other assets(103,459)(14,433)(18,379)Accounts payable and accrued expenses and other123,088 9,730 51,426 Net cash provided by operating activities106,166 76,640 48,193 Cash flows from investing activitiesAcquisitions, net of cash acquired— — (75)Purchases of property and equipment(98,639)(55,724)(87,965)Purchases of intang