Company: UTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001739566-25-000111
Chunk: 56

Company: Utz Brands, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 56
---
 prices for certain key ingredients to economically hedge commodity input prices. These purchase commitments totaled $91.0 million as of March 30, 2025 and $61.1 million as of December 29, 2024. The Company accrues for losses on firm purchase commitments in a loss position at the end of each reporting period to the extent that there is an active observable market. The Company has recorded purchase commitment gains totaling $0.6 million and $0.8 million for the thirteen weeks ended March 30, 2025 and March 31, 2024, respectively.Fair ValueThe following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of March 30, 2025:(in thousands)Level 1Level 2Level 3TotalAssets:Cash and cash equivalents$62,748 $— $— $62,748 Commodity contracts— 1,131 — 1,131 Interest rate swaps— 18,240 — 18,240 Total assets$62,748 $19,371 $— $82,119 Liabilities:Commodity contracts$— $221 $— $221 Interest rate swaps— 310 — 310 Warrants— 22,032 — 22,032 Debt— 848,192 — 848,192 Total liabilities$— $870,755 $— $870,755 The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of December 29, 2024:(in thousands)Level 1Level 2Level 3TotalAssets:Cash and cash equivalents$56,138 $— $— $56,138 Commodity contracts— 89 — 89 Interest rate swaps— 25,043 — 25,043 Total assets$56,138 $25,132 $— $81,270 Liabilities:Commodity contracts$— $1,434 $— $1,434 Warrants— 33,048 — 33,048 Debt— 768,581 — 768,581 Total liabilities$— $