Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 845

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 11
Chunk 845
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    November 1, 2024  
    November 3, 2023 

    (52 Weeks)  
    (53 Weeks) 
  
    Service cost 
    $56  
    $57 
  
    Interest cost 
     2,813  
     2,688 
  
    Expected return on plan assets 
     (3,433) 
     (3,439)
  
    Amortization of unrecognized loss 
     349  
     615 
  
    Net pension income 
    $(215) 
    $(79)

Net pension costs and benefit obligations are
determined using assumptions as of the beginning of each fiscal year.

Weighted average assumptions for each fiscal year
are as follows:

Schedule of Assumptions Used 

    November 1, 2024  
    November 3, 2023 
  
    Discount rate 
     5.16% 
     5.96%
  
    Rate of increase in salary levels 
     N/A  
     N/A 
  
    Expected return on plan assets 
     5.00% 
     7.00%

The benefit obligation, plan
assets, and funded status of these plans as of the fiscal years ended are as follows:

Schedule of Changes in Projected Benefit Obligations 

    November 1, 2024  
    November 3, 2023 

    (52 Weeks)  
    (53 Weeks) 
  
    Change in plan assets: 

    Fair value of the plans’ assets - beginning of year 
    $50,685  
    $50,649 
  
    Actual return on the plans’ assets 
     10,208  
     2,394 
  
    Benefits paid 
     (2,574) 
     (2,358)
  
    Fair value of the plans’ assets - end of year 
    $58,319  
    $50,685 
  
    Change in benefit obligations: 

    Benefit obligations - beginning of year 
    $48,800  
    $50,098 
  
    Service cost 
     56  
     57 
  
    Interest cost 
     2,813  
     2,688 
  
    Actuarial gain (loss) 
     4,012  
     (1,686)
  
    Benefits paid 
     (2