Utz Brands Inc
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
UTZ$14.25+0.1%Stored close · as of Nov 10, 2026
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CONSOLIDATED STATEMENTS OF CASH FLOWS
CONSOLIDATED STATEMENT OF CASH FLOWS
(In thousands)
| Thirteen weeks ended March 31, 2024 | Thirteen weeks ended April 2, 2023 | |
|---|---|---|
| Cash flows from operating activities | ||
| Net income (loss) | $2,397 | $(14,482) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Impairment and other charges | — | 1,945 |
| Depreciation and amortization | 18,302 | 20,094 |
| Gain on sale of business | (44,015) | — |
| Loss on remeasurement of warrant liability | 11,808 | 2,232 |
| Loss on sale of assets | 470 | 508 |
| Share-based compensation | 3,913 | 4,634 |
| Deferred taxes | 6,159 | 357 |
| Deferred financing costs | 1,760 | 5 |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | (8,578) | (71) |
| Inventories | (6,190) | (5,450) |
| Prepaid expenses and other assets | (6,503) | (2,123) |
| Accounts payable and accrued expenses and other | 11,412 | (16,092) |
| Net cash used in operating activities | (9,065) | (8,443) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (13,630) | (13,906) |
| Proceeds from sale of property and equipment | 6,006 | 451 |
| Proceeds from sale of business | 167,500 | — |
| Proceeds from sale of routes | 7,199 | 6,127 |
| Proceeds from the sale of IO notes | 855 | 867 |
| Notes receivable | (9,919) | (7,557) |
| Net cash provided by (used in) investing activities | 158,011 | (14,018) |
| Cash flows from financing activities | ||
| Borrowings on line of credit | 37,000 | 20,000 |
| Repayments on line of credit | (37,119) | — |
| Borrowings on term debt and notes payable | 9,798 | 2,331 |
| Repayments on term debt and notes payable | (154,239) | (6,244) |
| Payments of tax withholding requirements for employee stock awards | (1,397) | (589) |
| Dividends | (4,625) | (4,663) |
| Distribution to noncontrolling interest | (3,383) | (3,383) |
| Net cash (used in) provided by financing activities | (153,965) | 7,452 |
| Net decrease in cash and cash equivalents | (5,019) | (15,009) |
| Cash and cash equivalents at beginning of period | 52,023 | 72,930 |
| Cash and cash equivalents at end of period | $47,004 | $57,921 |
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