Company: UTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001739566-25-000111
Chunk: 54

Company: Utz Brands, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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a)167 2,002 Other accrued expenses7,005 4,246 Total accrued expenses and other$57,480 $78,281 

8

(a) See Note 2. Divestitures, for further discussion.Non-current accrued expenses and other consisted of the following:(in thousands)As of March 30, 2025As of December 29, 2024Operating right of use liability$139,237 $132,995 Tax Receivable Agreement liability24,419 24,272 Supplemental retirement and salary continuation plans6,904 6,918 Long-term portion of an interest rate hedge liability310 — Total accrued expenses and other$170,870 $164,185 

8.TERM DEBT, REVOLVING CREDIT FACILITY AND OTHER NOTES PAYABLE

Term Debt and Revolving Credit FacilityOn January 29, 2025, the Company amended its Term Loan B to refinance in full all of the $630.3 million outstanding term loans thereunder, reduce the interest rate from the Secured Overnight Financing Rate (“SOFR”) plus the applicable rate of 2.75% to SOFR plus the applicable rate of 2.50% and extend the maturity date from January 20, 2028 to January 29, 2032, as well as to make certain other changes. Other material terms of the Term Loan B remain unchanged. The Company recorded a loss on debt extinguishment of $0.5 million related to the refinancing of its Term Loan B in its Consolidated Statements of Operations and Comprehensive Income (Loss) for the thirteen weeks ended March 30, 2025.Term debt and revolving credit facilities consisted of the following:Debt (in thousands)Original Principal BalanceMaturity DateAs ofMarch 30, 2025As of December 29, 2024Term Loan B$795,000 January-32$630,335 $630,335 Real Estate Term Loan (1)$88,140 October-3258,978 59,626 Equipment loans (2)$144,837 114,799 83,530 ABL facilityOctober-2750,009 168 Net impact of debt issuance costs and original issue discount(5,929)(5,078)Total long-term debt848,192 768,581 Less: current portion(17,712)(16,097)Long term portion of term debt