A utility knife includes a handle base and a neck connected to the handle base for pivotal movement relative to the handle base between a closed position and an open position. The knife also includes a utility blade holder slidingly carried by the neck for sliding movement relative to the neck between a retracted position and an extended position. A utility blade is carried by the blade holder such that movement of the utility blade holder between its extended and retracted positions moves the utility blade between an exposed position in which a cutting edge of the blade is exposed, and a protected position in which the cutting edge of the blade is protected by the neck.