Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 129

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 129
---
 right of use liability17,341 14,992 Insurance liabilities6,762 6,811 Accrued freight and manufacturing related costs3,947 4,424 Accrued dividends and distributions8,594 7,972 Accrued interest11,086 13,280 Deferred transition services and other fees (a)2,002 — Other accrued expenses4,246 8,645 Total accrued expenses and other$78,281 $77,590 

69

(a) See Note 2. Divestitures, for further discussion.Non-current accrued expenses and other consisted of the following:(in thousands)As of December 29, 2024As of December 31, 2023Operating right of use liability(1)$132,995 $43,928 Tax Receivable Agreement liability24,272 24,297 Supplemental retirement and salary continuation plans6,918 6,559 Long-term portion of an interest rate hedge liability— 1,936 Total accrued expenses and other$164,185 $76,720 (1)  During the fiscal year ended December 29, 2024, the Company entered into an operating lease agreement related to a distribution center in Hanover.  See Note 15. Leases.

8.LONG-TERM DEBT

Revolving Credit FacilityUBH has an asset based revolving credit facility (as amended, the “ABL facility”).  On September 22, 2022, the ABL facility was amended to further increase the credit limit up to $175.0 million and to replace the interest rate benchmark from London Inter-Bank Rate ("LIBOR") to the Secured Overnight Financing Rate (“SOFR”). On July 20, 2023, the ABL facility was further amended to increase the credit limit to $225.0 million and extend the maturity from October 2023 through the earlier of July 20, 2028, or 91 days prior to the maturity of the Term Loan B (as defined below). The Company incurred fees of $0.7 million in connection with the amendment to the ABL facility. On April 17, 2024, the Company further amended its ABL facility to reduce the rate from SOFR plus the applicable rate ranging from 1.50%-2.00% plus a credit spread adjustment to SOFR plus the applicable rate ranging from 1.50%-2.00%,