Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 119

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 119
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 31, 2023, the Company had reserves totaling $4.1 million  for these insurance programs.Shipping and Handling – The Company records shipping and handling expenses within selling expenses. Shipping and handling expenses for products shipped to customers totaled $50.1 million for the fiscal year ended December 29, 2024, $45.0 million for the fiscal year ended December 31, 2023, and $59.5 million for the fiscal year ended January 1, 2023.

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Advertising Costs – Advertising costs are charged to operations when incurred. Advertising expenses totaled $17.8 million for the fiscal year ended December 29, 2024, $12.3 million for the fiscal year ended December 31, 2023, and $9.9 million for the fiscal year ended January 1, 2023. Cooperative advertising, primarily consisting of in-print advertising, point-of-sale displays, and in-store demos, totaled $33.8 million for the fiscal year ended December 29, 2024, $29.8 million for the fiscal year ended December 31, 2023, and $21.6 million for the fiscal year ended January 1, 2023. Employee Benefits – The Company maintains several contributory 401(k) retirement plans (the "Plans”) for its associates. Profit sharing contributions are made at the discretion of the Board of Directors and expenses recognized related to the profit-sharing contribution were $4.9 million for the fiscal year ended December 29, 2024, $5.5 million for the fiscal year ended December 31, 2023, and $6.3 million for the fiscal year ended January 1, 2023. The Plans provide associates with matching contributions primarily at 20% of their contributions as defined in the Plans. The expense related to the matching contributions was $1.3 million for the fiscal year ended December 29, 2024, $1.7 million for the fiscal year ended December 31, 2023, and $1.4 million for the fiscal year ended January 1, 2023.Revenue Recognition – The Company’s revenues primarily consist of the sale of salty snack items to customers, including supermarkets, mass merchants, club stores, dollar and discount stores, convenience stores, independent grocery stores, drug stores, food service, vending, military, and other channels. The Company sells its products in most regions of the United