Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 341

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 3
Chunk 341
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 fiscal years are as follows as of November 1, 2024.

Schedule
of Aggregate Contractual Maturities of Debt in Future Fiscal Years 

    Fiscal Years
     
    Debt Payable

    2025
     
    $
    1,084

    2026
     
    $
    1,124

    2027
     
    $
    578

     42 

 NOTE 6- Contingencies and Commitments:

The Company leases warehouse
and/or office facilities throughout the United States through month-to-month rental agreements. In the case of month-to-month lease or
rental agreements with terms of 12 months or less, the Company made an accounting policy election to not recognize lease assets and liabilities
and record them on a straight-line basis over the lease term. For further information regarding our lease accounting policy, please refer
to Note 1 – The Company and Summary of Significant Accounting Policies – Leases.

The Company leased three long-haul
trucks received during fiscal year 2019. The six-year leases for these trucks would have expired in fiscal year 2025. We returned one
long-haul truck on June 22, 2023, for a loss of $12 and returned two long-haul trucks on July 11, 2024, for a loss of $90, in an effort
to reduce the overall cost of delivering products. All long-haul trucks under this lease agreement have been returned as of November 1,
2024. The Company leased one box truck for a market value of $27 on April 17, 2023, and that lease term is two years.

The Company leased one refrigerated
truck received on May 10, 2024, for a net present value of $166. The seven-year lease for this truck will expire in fiscal year 2031.
Amortization of equipment as a finance lease was $44 during the fifty-two weeks ended November 1, 2024.

The Company performed a detailed
analysis and determined that the only indications of a long-term lease in addition to transportation leases for long-haul trucks were
the warehouse leases with Hogshed Ventures, LLC and Racine Partners 4333 LLC.

The Company’s five-year
term lease with Racine Partners 4333 LLC, was effective June 1, 2022. A ROU asset of $2,383 and corresponding liability for warehouse
storage space of $2,