Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 151

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 151
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 $14,992 $2,808 Lease liability, non-current132,995 6,854 43,928 7,337 Total lease liabilities (2)$150,336 $9,707 $58,920 $10,145 Weighted average remaining lease term (in years)(2)18.93.44.43.9Weighted average discount rate (2)7.58 %7.53 %4.04 %5.80 %(1) Finance ROU assets are reflected within property, plant, and equipment, net on our consolidated balance sheets and operating leases ROU assets are reflected within other assets on our consolidated balance sheets.(2) During the fiscal year ended December 29, 2024, the Company entered into an operating lease agreement related to a distribution center in Hanover, PA for a term of 29.9 years utilizing an incremental borrowing rate of 8.25%.The following table presents other information related to leases for the fiscal year ended December 29, 2024, December 31, 2023 and January 1, 2023 (in thousands):For the Fiscal Year Ended December 29, 2024For the Fiscal Year Ended December 31, 2023For the Fiscal Year Ended January 1, 2023Cash paid for amounts included in the measurement of lease liabilities:     Operating cash flows from operating leases$19,999 $16,717 $12,531      Operating cash flows from finance leases$735 $550 $318      Financing cash flows from finance leases$3,181 $2,973 $2,585 Leased assets obtained in exchange for new lease liabilities:Operating leases$108,308 $26,315 $24,958 Finance leases$3,783 $2,761 $6,379 

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16.SEGMENT DATA

The Company operates in one reportable segment: the manufacturing, distribution, marketing and sale of snack food products. The Company defines reporting segments as components of an organization for which discrete financial information is available and operating results are evaluated on a regular basis by the chief operating decision maker ("CODM”) in order to assess performance and allocate resources. The CODM is the Chief Executive Officer of the Company. Characteristics of the organization which were relied upon in making the determination that the Company operates in one reportable segment include the similar nature of all