Note 6 - Commitments and Contingencies

12 Months Ended

Oct. 30, 2015

Commitments and Contingencies Disclosure [Text Block]

NOTE 6 -

Contingencies and Commitments:

We lease warehouse and/or office facilities throughout the United States and Canada through month-to-month rental agreements.

Leases for semi-truck trailers expired in 2015 and are classified as operating leases. Six year leases for OTR (over-the-road) tractors expire in 2018 and are classified as capital leases. After reevaluating our fleet delivery needs, we returned five OTR tractors financed by the capital lease arrangement with a remaining liability of $445 during the second quarter of fiscal 2015 that resulted in a gain of $75. Rental payments including prior leases were $448 in 2015 and $574 in 2014. Amortization of equipment under capital lease was $225 in 2015.

The following is a schedule by years of future minimum lease payments for transportation leases:

Fiscal Year	Capital Leases			Operating Leases		Financing Obligations
2016		246			16		262
2017		246			-		246
2018		452			-		452
Total Minimum Lease Payments(a)	$	944		$	16	$	960
Less: Amount representing executory costs		(186	)
Less: Amount representing interest(b)		(33	)
Present value of future minimum lease payments(c)	$	725

(a) Minimum payments exclude contingent rentals based on actual mileage and adjustments of rental payments based on the Consumer Price Index. Contingent rentals amounted to $93 in 2015 and $116 in 2014 including prior lease arrangements.

(b) Amount necessary to reduce net minimum lease payments to present value calculated at our incremental borrowing rate at the inception of the leases.