Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 350

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 4
Chunk 350
---

  
    Other SG&A 
     23,374  
     24,646  
     (1,272)
  
    Total - SG&A 
     62,449  
     65,567  
     (3,118)

Lower sales commissions paid on reduced sales
resulted in lower wages and bonus expenses in the 2024 fiscal year compared to the 2023 fiscal year. The increase in pension cost was
a result of lower values in pension plan assets caused by the performance of the underlying markets that support them as well as lower
pension discount rates resulting in higher liability. Costs for product advertising decreased mainly as a result of lower payments under
brand licensing agreements in the Snack Food Products segment during fiscal year 2024. Healthcare costs have increased due to unfavorable
claim trends. Outside consulting costs increased due to higher legal fees, advisory services, inspection and product testing fees. Vehicle
repairs and maintenance on vehicles have increased compared to the prior fiscal year period mainly due to an aging fleet. None of the
changes individually or as a group of expenses in “Other SG&A” were significant enough to merit separate disclosure. The
major components comprising the decrease of “Other SG&A” expenses were lower provision for doubtful accounts, lower postage
and insurance expenses and higher rental income partially offset by higher travel and business expense.

 13 

Selling, General and Administrative Expenses-Frozen Food Products
Segment

SG&A expenses in the Frozen Food Products
segment decreased by $241 (1.7%) during fiscal year 2024 compared to the prior fiscal year. The overall decrease in SG&A expenses
was due to lower unit sales volume in pounds, lower equipment rental and lower fuel expenses related to a reduction in the number of company-owned
long-haul trucks partially offset by an increase in insurance expenses and broker commissions.

Selling, General and Administrative Expenses-Refrigerated
and Snack Food Products Segment

SG&A expenses in the Snack Food Products segment
decreased by $2,877 (5.6%) during fiscal year 2024 compared to the prior fiscal year. Most of the decrease was due to the significantly
lower unit sales volume in pounds and the corresponding decrease in wages and bonuses, and lower payments under brand licensing agreements.

Loss on Sale of Property, Plant and Equipment

Losses on the sale of property, plant
and equipment were due to the ordinary disposal of assets located in both the Frozen Food Products segment, $96 and