Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 58

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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. Garcia Sale and the Manufacturing Facilities Sale, which expired during the first half of 2025. In addition, the parties will continue to operate under reciprocal co-manufacturing agreements pursuant to which Our Home co-manufactures certain of the Company's products and the Company co-manufactures certain Good Health products. Certain Good Health products continue to be distributed and sold on the Company's DSD network for Our Home pursuant to a distribution agreement. The Company received approximately $18.7 million in advance from Our Home for certain terms under these agreements, which the Company recognized through income from operations over the terms of the transition services and co-manufacturing agreements.

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3.INVENTORIES

Inventories consisted of the following:(in millions)As of June 29, 2025As of December 29, 2024Finished goods$86.2 $67.0 Raw materials31.4 27.1 Maintenance parts7.9 7.3 Total inventories$125.5 $101.4 

4.PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, consisted of the following:(in millions)As of June 29, 2025As of December 29, 2024Land$25.8 $25.9 Buildings136.4 113.2 Machinery and equipment303.9 215.5 Land improvements2.7 2.7 Building improvements3.4 2.8 Construction-in-progress58.5 107.4  530.7 467.5 Less: accumulated depreciation(141.0)(122.3)Property, plant and equipment, net$389.7 $345.2 Depreciation expense was $11.9 million and $8.2 million for the thirteen weeks ended June 29, 2025 and June 30, 2024, respectively, and $21.3 million and $17.0 million for the twenty-six weeks ended June 29, 2025 and June 30, 2024, respectively. Depreciation expense is included in Cost of goods sold and Selling, distribution, and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss).

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5.GOODWILL AND INTANGIBLE ASSETS, NET

A roll-forward of goodwill is as follows:(in millions)Balance as of December 29, 202