Company: HFFG
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001680873-25-000006
Chunk: 95

Company: HF Foods Group Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 95
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—Equity Securities, which is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments, if any. The investment in Asahi is accounted for under the equity method due to the fact that the Company has significant influence but does not exercise control over this investee. The Company determined there was no impairment for the years ended December 31, 2024, 2023 and 2022 for these investments.Accrued expenses and other liabilities consisted of the following:(In thousands)December 31, 2024December 31, 2023Accrued compensation$7,497 $7,941 Accrued professional fees553 1,353 Accrued interest and fees938 1,276 Self-insurance liability1,671 1,723 Advance from customers3,081 1,390 Other4,261 3,604 Total accrued expenses and other liabilities$18,001 $17,287 

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Note 5 - Fair Value MeasurementsThe following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of the dates indicated:December 31, 2024December 31, 2023Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalQuoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable InputsQuoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable Inputs(In thousands)Assets:Interest rate swaps$— $504 $— $504 $— $412 $— $412 Liabilities:Interest rate swaps$— $— $— $— $— $1,601 $— $1,601 The Company follows the provisions of ASC Topic 820 Fair Value Measurement which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:•Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.•Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated