Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 61

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 December 29, 2024Term Loan B$795.0 January-32$630.3 $630.3 Real Estate Term Loan (1)$88.1 October-3258.4 59.6 Equipment loans (2)$157.4 122.0 83.5 Asset based lending (“ABL”) facilityOctober-2760.7 0.2 Net impact of debt issuance costs and original issue discount(5.5)(5.0)Total long-term debt865.9 768.6 Less: current portion(23.2)(16.1)Long term portion of term debt and financing obligations$842.7 $752.5 

10

(1) Loan by City National Bank which is secured by a majority of the real estate assets of the Company ("Real Estate Term Loan").(2) Equipment loans have varying maturities from June 2026 to July 2030.Other Notes Payable and Finance LeasesAmounts outstanding under notes payable and finance leases consisted of the following:(in millions)As ofJune 29, 2025As of December 29, 2024Note payable – IO notes$14.3 $12.1Finance lease obligations9.5 9.7Other— 0.1Total notes payable23.8 21.9Less: current portion(7.0)(6.9)Long term portion of notes payable$16.8 $15.0Interest ExpenseInterest expense consisted of the following:(in millions)Thirteen weeks ended June 29, 2025Thirteen weeks ended June 30, 2024Twenty-six weeks ended June 29, 2025Twenty-six weeks ended June 30, 2024Company’s long-term debt$10.9 $9.2 $21.8 $21.0 Amortization of deferred financing fees0.3 0.7 0.7 2.5 IO loans0.2 0.3 0.4 0.5 Total interest$11.4 $10.2 $22.9 $24.0 

9.DERIVATIVE FINANCIAL INSTRUMENTS, PURCHASE COMMITMENTS, WARRANTS AND FAIR VALUE

Derivative Financial InstrumentsThe Company uses interest rate swaps to manage its interest rate exposure on its Term Loan B and its Real Estate Term Loan. The interest rate swaps