Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 22

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 of warrant liability(11.0)Fair value of warrant liabilities as of March 30, 2025$22.0 Gain on remeasurement of warrant liability(12.5)Fair value of warrant liabilities as of June 29, 2025$9.5 

11

Purchase CommitmentsThe Company has outstanding purchase commitments for specific quantities at fixed prices for certain key ingredients to economically hedge commodity input prices. These purchase commitments totaled $90.2 million as of June 29, 2025 and $61.1 million as of December 29, 2024. The Company accrues for losses on firm purchase commitments in a loss position at the end of each reporting period to the extent that there is an active observable market. The Company has recorded purchase commitment gains totaling $1.1 million and $0.1 million for the thirteen weeks ended June 29, 2025 and June 30, 2024, respectively, and $1.7 million and $0.9 million for the twenty-six weeks ended June 29, 2025 and June 30, 2024, respectively.Fair ValueThe following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of June 29, 2025:(in millions)Level 1Level 2Level 3TotalAssets:Cash and cash equivalents$54.6 $— $— $54.6 Commodity contracts— 1.6 — 1.6 Interest rate swaps— 14.9 — 14.9 Total assets$54.6 $16.5 $— $71.1 Liabilities:Commodity contracts$— $0.1 $— $0.1 Interest rate swaps— 1.0 — 1.0 Warrants— 9.5 — 9.5 Debt— 865.9 — 865.9 Total liabilities$— $876.6 $— $876.6 The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of December 29, 2024:(in millions)Level 1Level 2Level 3TotalAssets:Cash and