Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 277

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 2
Chunk 277
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 on
the Company’s Consolidated Financial Statements as it has been our policy to estimate and record credit losses on trade accounts
receivable.

In November 2023, the FASB
issued ASU No. 2023-07, Segment Reporting – Improvements to Reportable Segments Disclosures. The amendments enhance disclosures
of significant segment expenses by requiring the disclosure of significant segment expenses regularly provided to the chief operating
decision maker (CODM), extending certain annual disclosures to interim periods, and permitting more than one measure of segment profit
or loss to be reported under certain conditions. The amendments are effective for the Company in fiscal years beginning after December
15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption of the amendment is permitted, including
adoption in any interim periods for which financial statements have not been issued. The Company is currently evaluating the guidance
and its impact to the financial statements.

In March 2024, the SEC adopted
rules to develop standardized climate-related disclosures by publicly traded companies including the emission of greenhouse gases. The
rules are currently effective for the Company in the fiscal year beginning in 2027. However, as a result of pending legal challenges,
the actual timing of effectiveness of the rules and applicable phase-in periods, as well as whether portions of the rules remain in effect
after the legal challenges, are uncertain. The Company is currently evaluating the guidance and its impact on the financial statements. 

     34 

NOTE 2 - Composition of Certain Financial
Statement Captions:

Schedule of Composition of Certain Financial Statement

    November 1, 2024  
    November 3, 2023 
  
    Inventories, net: 

    Meat, ingredients, and supplies 
    $10,314  
    $12,244 
  
    Work in process 
     2,633  
     1,507 
  
    Finished goods 
     20,391  
     26,822 
  
    Inventories, net 
    $33,338  
    $40,573 

    Prepaid expenses and other current assets 

    Prepaid insurance 
     84  
     274 
  
    Prepaid other 
     525  
     161 
  
    Prepaid expenses and
    other current assets 
    $609  
    $435 
  
    Property, plant and equipment, net: 

    Land