Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 14

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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Net cash used in operating activities(3.9)(0.2)Cash flows from investing activitiesPurchases of property and equipment(65.7)(37.8)Purchases of intangibles— (9.2)Proceeds from sale of property and equipment0.8 24.1 Proceeds from sale of business— 167.5 Proceeds from sale of routes11.7 13.7 Proceeds from the sale of IO notes3.9 1.5 Notes receivable(22.0)(18.8)Net cash (used in) provided by investing activities(71.3)141.0 Cash flows from financing activitiesBorrowings on line of credit135.0 92.0 Repayments on line of credit(74.5)(47.2)Borrowings on term debt and notes payable50.8 16.6 Repayments on term debt and notes payable(13.6)(166.6)Payment of debt issuance cost(1.7)(0.7)Payments of tax withholding requirements for employee stock awards(2.2)(1.4)Dividends paid(11.6)(9.4)Distribution to noncontrolling interest(8.5)(9.5)Net cash provided by (used in) financing activities73.7 (126.2)Net (decrease) increase in cash and cash equivalents(1.5)14.6 Cash and cash equivalents at beginning of period56.1 52.0 Cash and cash equivalents at end of period$54.6 $66.6 

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

5

Utz Brands, Inc.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1.OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation – The accompanying consolidated financial statements comprise the financial statements of Utz Brands, Inc. ("UBI") and its wholly owned subsidiaries (collectively, the “Company”). The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial statements and pursuant to the accounting and disclosure rules and regulations of the U.S. Securities and Exchange Commission (the "SEC"). They do not include all information and notes required by U.S. GAAP for annual financial statements. However, except as