Company: BRID
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001493152-25-009592
Chunk: 49

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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 Minimum Lease Payments 

    Fiscal Year 
    Financial  Obligations 
  
    2025 
    $1,140 
  
    2026 
     1,226 
  
    2027 
     496 
  
    2028 
     259 
  
    Later Years 
     122 
  
    Total Minimum Lease Payments(a) 
    $3,243 
  
    Less: Amount representing executory costs 
     52
  
    Less: Amount representing interest(b) 
     - 
  
    Present value of future minimum lease payments(c) 
    $3,295 

    (a)
    Minimum
    payments exclude contingent rentals based on actual mileage and adjustments of rental payments based on the Consumer Price Index.
  
    (b)
    Amount
    necessary to reduce net minimum lease payments to present value calculated at the Company’s incremental borrowing rate at the
    inception of the leases.
  
    (c)
    Reflected
    in Part I. Financial Information, Item 1. a., Condensed Consolidated Balance Sheets, as current and noncurrent obligations are finance
    leases of $67 under other current liabilities and $161 under executive retirement, pension plans and other, respectively, and ROU
    leases payable of $1,117 and $1,950 are disclosed as line items current right-of-use leases payable and long-term right-of-use leases
    payable, respectively, as of January 24, 2025.

We
purchase large quantities of pork, beef, and flour. These ingredients are generally available from a number of different suppliers although
the availability of these ingredients is subject to seasonal variation. We build ingredient inventories to take advantage of downward
trends in seasonal prices or anticipated supply limitations.

We
purchase bulk flour under short-term fixed price contracts at current market prices. The contracts are usually effective for and settle
within three months or less at a fixed price and quantity. We monitor and manage our ingredient costs to help negate volatile daily swings
in market prices when possible. We do not participate in the commodity futures market or hedging to limit commodity exposure.

    10 of 25

The
Company is involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the
ultimate disposition of these matters is not expected to have a material adverse effect on the Company’s consolidated financial
position or results of operations.

Note
4 – Segment Information:

The
Company has two