Company: BRID
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001493152-25-012266
Chunk: 60

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-08-22
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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    Fiscal Year 
    Financial
    Obligations 
  
    2025 
    $306 
  
    2026 
     1,206 
  
    2027 
     748 
  
    2028 
     253 
  
    Later Years 
     282 
  
    Total Minimum Lease Payments(a) 
    $2,795 
  
    Less: Amount representing executory costs 
     (46)
  
    Less: Amount representing
    interest(b) 
     - 
  
    Present value of future
    minimum lease payments(c) 
    $2,749 

    (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 $74 under other current liabilities and $157 under executive retirement, pension plans and other, respectively, ROU leases
    payable of $1,155 and $1,363 are disclosed as line items current right-of-use leases payable and long-term right-of-use leases payable,
    respectively, as of July 11, 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.

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.

    10 of 27

Note
4 – Segment Information:

The
Company has two report