Company: UTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001628280-25-047281
Chunk: 46

Company: Utz Brands, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 the purchase of routes. The outstanding balance of loans guaranteed that were issued by Bank of America was $63.5 million at both of September 28, 2025 and December 29, 2024, which loans are accounted for as off balance sheet arrangements. As discussed in Note 6. Notes Receivable, the Company 

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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 September 28, 2025 and December 29, 2024 was $13.0 million and $11.7 million, respectively. Due to the structure of the transactions, the sales did not qualify for sale accounting treatment, and as such the Company records the notes payable obligation owed by the IOs to the financial institution on its Consolidated Balance Sheets; the corresponding notes receivable also remain in the Company’s Consolidated Balance Sheets. The maximum amount of future payments the Company could be required to make under these guarantees equates to 25% of the outstanding loan balance on the first day of each calendar year plus 25% of the amount of any new loans issued during such calendar year. Additionally, the Company guarantees loans for the purchase of routes made by two other banks. The outstanding balance of these loans was $0.9 million and $1.5 million at September 28, 2025 and December 29, 2024, respectively, of which $0.8 million and $1.3 million was included in the Company's Consolidated Balance Sheets at September 28, 2025 and December 29, 2024, respectively. The maximum amount of future payments the Company could be required to make under these guarantees equates to 25% of the outstanding loan balance.All of the above IO loans are collateralized by the routes for which the loans are made. Accordingly, the Company has the ability to recover substantially all of the outstanding loan value upon default.

12.SUPPLEMENTARY CASH FLOW INFORMATION

(in millions)Thirty-nine weeks ended September 28, 2025Thirty-nine weeks ended September 29, 2024Cash paid for interest$39.6 $42.8 Refunds related to income taxes$0.2 $0.2 Payments for income taxes$3.5 $28.6 Non-cash finance lease additions$2.4 $3.1 Non-cash