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Contingencies and Commitments

12 Months Ended

Nov. 01, 2019

Commitments and Contingencies Disclosure [Abstract]

Contingencies and Commitments

NOTE 6- Contingencies and Commitments:

The Company leases warehouse and/or office facilities throughout the United States and Canada 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 due to their underlying nature.

The Company leases three long-haul trucks received during fiscal 2019. Six-year leases for semi-trucks expire in 2025. Amortization of equipment under capital lease was $34 in 2019.

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

Fiscal Year		Financing Obligations
2021		$	102
2022			102
2023			102
2024			102
2025			102
Later Years			75
Total Minimum Lease Payments(a)		$	585
Less: Amount representing executory costs			(76	)
Less: Amount representing interest(b)			(54	)
Present value of future minimum lease payments(c)		$	455

(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 Entity’s incremental borrowing rate at the inception of the leases.

(c) Reflected in the Note 2, as current and noncurrent obligations under capital leases of $95 and $360, respectively.