Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 112

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 112
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ibles(9,220)— — Proceeds from sale of property and equipment26,640 9,539 4,333 Proceeds from sale of business167,500 — — Proceeds from sale of routes26,658 28,665 23,399 Proceeds from the sale of IO notes4,912 5,405 5,017 Proceeds from insurance claims for capital investments— 1,700 3,935 Notes receivable, net(42,890)(38,077)(24,711)Net cash provided by (used in) investing activities74,961 (48,492)(76,067)Cash flows from financing activitiesBorrowings on line of credit114,500 71,000 79,000 Repayments on line of credit(114,699)(70,632)(115,000)Borrowings on term debt and notes payable39,112 13,113 124,592 Repayments on term debt and notes payable(173,742)(29,211)(21,037)Payment of debt issuance cost(733)(656)(3,660)Payments of tax withholding requirements for employee stock awards(1,397)(589)(6,217)Proceeds from issuance of shares— — 28,000 Dividends paid(21,724)(18,548)(17,157)Distribution to noncontrolling interest(18,329)(13,532)(9,615)Net cash (used in) provided by financing activities(177,012)(49,055)58,906 Net increase (decrease) in cash and cash equivalents4,115 (20,907)31,032 Cash and cash equivalents at beginning of period52,023 72,930 41,898 Cash and cash equivalents at end of period$56,138 $52,023 $72,930  The accompanying notes are an integral part of these consolidated financial statements.

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Utz Brands, Inc.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

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. GA