10-K Filing

BRIDGFORD FOODS CORP CIK: 14177 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001493152-22-002433`
Period End Date	20211031
Filing Date	20220127
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 28 Cash Flow Statement 66 Stockholders Equity 10 Comprehensive Income 16

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$16.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$127.00K	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.87M	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.55M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$64.53M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$58.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$375.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $127 and $16, respectively, and promotional allowances of $2,869 and $2,550, respectively	`AccountsReceivableNetCurrent`	$24.38M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $127 and $16, respectively, and promotional allowances of $2,869 and $2,550, respectively	`AccountsReceivableNetCurrent`	$23.82M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$29.30M	USD	Point-in-time
Inventories, net	`InventoryNet`	$36.77M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$6.16M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$9.52M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$692.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.57M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$70.26M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$68.75M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $64,527 and $58,686, respectively	`PropertyPlantAndEquipmentNet`	$72.89M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $64,527 and $58,686, respectively	`PropertyPlantAndEquipmentNet`	$73.33M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$13.20M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$13.65M	USD	Point-in-time
Total assets	`Assets`	$155.28M	USD	Point-in-time
Total assets	`Assets`	$156.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.39M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$6.89M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$5.98M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$94.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$98.00K	USD	Point-in-time
Current notes payable equipment (Note 5)	`NotesPayableCurrent`	$1.06M	USD	Point-in-time
Current notes payable equipment (Note 5)	`NotesPayableCurrent`	$4.43M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$5.20M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$5.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$25.62M	USD	Point-in-time
Long-term notes payable equipment, bridge loan and line of credit (Note 5)	`LongTermNotesPayable`	$24.69M	USD	Point-in-time
Long-term notes payable equipment, bridge loan and line of credit (Note 5)	`LongTermNotesPayable`	$36.00M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$2.34M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$3.40M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$16.79M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$30.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$84.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$81.81M	USD	Point-in-time
Preferred stock, without par value; Authorized, - 1,000 shares; issued and outstanding none	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, without par value; Authorized, - 1,000 shares; issued and outstanding none	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $1.00 par value; Authorized, - 20,000 shares; issued and outstanding 9,076	`CommonStockValue`	$9.13M	USD	Point-in-time
Common stock, $1.00 par value; Authorized, - 20,000 shares; issued and outstanding 9,076	`CommonStockValue`	$9.13M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$8.30M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$8.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$79.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$74.25M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.71M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-25.94M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$71.25M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$74.98M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$66.48M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$155.28M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$156.79M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$197.97M	USD	Annual
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$240.43M	USD	Annual
Cost of products sold	`CostOfGoodsAndServicesSold`	$138.45M	USD	Annual
Cost of products sold	`CostOfGoodsAndServicesSold`	$189.05M	USD	Annual
Gross margin	`GrossProfit`	$59.52M	USD	Annual
Gross margin	`GrossProfit`	$51.38M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$55.17M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$60.13M	USD	Annual
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$504.00K	USD	Annual
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$58.00K	USD	Annual
Operating (loss) income	`OperatingIncomeLoss`	$-8.24M	USD	Annual
Operating (loss) income	`OperatingIncomeLoss`	$4.41M	USD	Annual
Interest expense	`InterestExpense`	$1.21M	USD	Annual
Interest expense	`InterestExpense`	$186.00K	USD	Annual
Cash surrender value gain	`GainOnCashSurrenderValue`	$2.17M	USD	Annual
Cash surrender value gain	`GainOnCashSurrenderValue`	$906.00K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$957.00K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$720.00K	USD	Annual
(Loss) income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.13M	USD	Annual
(Loss) income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.28M	USD	Annual
Benefit on income taxes	`IncomeTaxExpenseBenefit`	$-1.78M	USD	Annual
Benefit on income taxes	`IncomeTaxExpenseBenefit`	$-2.19M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$7.32M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-5.50M	USD	Annual
Basic (loss) earnings per share	`EarningsPerShareBasic`	$-0.61	USD	Annual
Basic (loss) earnings per share	`EarningsPerShareBasic`	$0.81	USD	Annual
Shares used to compute basic (loss) earnings per share	`WeightedAverageNumberOfSharesOutstandingBasic`	9.08M	shares	Annual
Shares used to compute basic (loss) earnings per share	`WeightedAverageNumberOfSharesOutstandingBasic`	9.08M	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$7.32M	USD	Annual
Net (loss) income	`ProfitLoss`	$-5.50M	USD	Annual
Depreciation	`Depreciation`	$6.67M	USD	Annual
Depreciation	`Depreciation`	$5.51M	USD	Annual
Provision for (recovery of) losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$125.00K	USD	Annual
Provision for (recovery of) losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-8.00K	USD	Annual
Provision for (reduction in) promotional allowances	`ProvisionForPromotionalAllowances`	$-423.00K	USD	Annual
Provision for (reduction in) promotional allowances	`ProvisionForPromotionalAllowances`	$319.00K	USD	Annual
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$504.00K	USD	Annual
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$58.00K	USD	Annual
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$6.38M	USD	Annual
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$1.06M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.51M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.01M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$2.93M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$7.47M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.88M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$75.00K	USD	Annual
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$9.09M	USD	Annual
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-3.36M	USD	Annual
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$3.55M	USD	Annual
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$102.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.51M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.89M	USD	Annual
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$501.00K	USD	Annual
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$909.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.00K	USD	Annual
Current portion of non-current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-412.00K	USD	Annual
Current portion of non-current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$722.00K	USD	Annual
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.12M	USD	Annual
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$2.29M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.99M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.92M	USD	Annual
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$39.00K	USD	Annual
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$520.00K	USD	Annual
Changes in escrow balance	`ChangesInEscrowBalance`	$1.12M	USD	Annual
Changes in escrow balance	`ChangesInEscrowBalance`	$-750.00K	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.48M	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.24M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.47M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.32M	USD	Annual
Payment of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$538.00K	USD	Annual
Payment of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$24.00K	USD	Annual
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$12.00M	USD	Annual
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$18.45M	USD	Annual
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$3.08M	USD	Annual
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$4.05M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.41M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.35M	USD	Annual
Net (decrease) increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.05M	USD	Annual
Net (decrease) increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.95M	USD	Annual
Cash and cash equivalents and restricted cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.48M	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$375.00K	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.43M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.48M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$375.00K	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.43M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$148.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$336.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$828.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$1.21M	USD	Annual
Transportation equipment financed by lease obligations	`TransportationEquipmentFinancedByLeaseObligations`	$40.00K	USD	Annual
Transportation equipment financed by lease obligations	`TransportationEquipmentFinancedByLeaseObligations`	-	USD	Annual
Repayment of equipment loans with bridge loan (see Note 5)	`NoncashRepaymentOfEquipmentLoansWithBridgeLoan`	-	USD	Annual
Repayment of equipment loans with bridge loan (see Note 5)	`NoncashRepaymentOfEquipmentLoansWithBridgeLoan`	$10.33M	USD	Annual

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$71.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$74.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$66.48M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$7.32M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.50M	USD	Annual
Net change in defined benefit plans and other benefit plans, net of tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-2.56M	USD	Annual
Net change in defined benefit plans and other benefit plans, net of tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$9.23M	USD	Annual
Balance	`StockholdersEquity`	$71.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$74.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$66.48M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$7.32M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-5.50M	USD	Annual
Other comprehensive income (loss) from defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent`	$3.92M	USD	Annual
Other comprehensive income (loss) from defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent`	$-11.99M	USD	Annual
Actuarial gain	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax`	$556.00K	USD	Annual
Actuarial gain	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax`	$352.00K	USD	Annual
Other comprehensive income from other postretirement benefit plans, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax`	$-556.00K	USD	Annual
Other comprehensive income from other postretirement benefit plans, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax`	$-352.00K	USD	Annual
Other comprehensive income, before taxes	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$12.34M	USD	Annual
Other comprehensive income, before taxes	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-3.36M	USD	Annual
Tax benefit on other comprehensive (loss) income	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-803.00K	USD	Annual
Tax benefit on other comprehensive (loss) income	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$3.11M	USD	Annual
Change in other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeOtherNetOfTax`	$-2.56M	USD	Annual
Change in other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeOtherNetOfTax`	$9.23M	USD	Annual
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$4.76M	USD	Annual
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$3.73M	USD	Annual

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.