Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 509

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 7
Chunk 509
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, investment options, tax deductibility, or legislative
changes in funding requirements.

Our cash conversion cycle (defined as days of
inventory and trade receivables less days of trade payables outstanding) was equal to 84 days for the fifty-two weeks ended November 1,
2024, and 83 days for the fifty-three weeks ended November 3, 2023.

For the fifty-three weeks ended November 3, 2023,
net cash provided by operating activities was $3,985. The result was primarily related to net income of $3,474 and a reduction in accounts
receivable of $6,480, partially offset by a decrease in accounts payable of $6,457 and lower non-current liabilities of $1,836. During
fiscal year 2023, we did not contribute towards our defined benefit pension plan.

Cash flows used in investing activities:

    November 1, 2024  (52 Weeks)   
    November 3, 2023  (53 Weeks)  
  
    Proceeds from sale of property, plant and equipment 
    $69  
    $227 
  
    Additions to property, plant and equipment 
     (3,902) 
     (2,603)
  
    Net cash used in investing activities 
    $(3,833) 
    $(2,376)

Additions to property, plant and equipment include
the acquisition of equipment, upgrading of facilities to maintain operating efficiency and investments in cost effective technologies
to lower costs. In general, we capitalize the cost of additions and improvements and expense the cost for repairs and maintenance. We
may also capitalize costs related to improvements that extend the life, increase the capacity, or improve the efficiency of existing machinery
and equipment. Specifically, capitalization of upgrades of facilities to maintain operating efficiency include acquisitions of machinery
and equipment used on packaging lines and refrigeration equipment used to process food products.

The table below highlights the additions to property,
plant and equipment for the fifty-two and fifty-three weeks ended:

    November 1, 2024  (52 Weeks)   
    November 3, 2023  (53 Weeks)  
  
    Building and leasehold improvements 
    $-  
    $192 
  
    Furniture and fixture 
     92  
     - 
  
    Temperature control 
     -  
     - 
  
    Processing equipment 
     215  
     506 
  
    Packaging lines