JanOne Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Accrued Liabilities

Accrued Liabilities

6 Months Ended

Jul. 02, 2022

Payables and Accruals [Abstract]

Accrued Liabilities

Note 12: Accrued Liabilities

Accrued liabilities as of July 2, 2022 and January 1, 2022 consist of the following (in $000’s):


	July 2, 2022		January 1, 2022
Compensation and benefits	$	752	$	731
Contract liability		331		17
Accrued incentive and rebate checks		1,357		1,427
Accrued transportation costs*		—		904
Accrued guarantees		130		767
Accrued purchase orders		—		23
Accrued taxes		511		543
Accrued litigation settlement		680		680
Other		1,202		140
Total accrued expenses	$	4,963	$	5,232

During the 26 weeks ended July 2, 2022, the Company reversed approximately $637,000 in contingent liabilities relating to guarantees of ApplianceSmart leases that no longer exist as a result of ApplianceSmart’s emergence from bankruptcy (see Note 6). No such transactions occurred during the 26 weeks ended July 3, 2021.

*Accrued transportation costs are related to delayed billing from certain vendors.

Contract liabilities rollforward

The following table summarizes the contract liability activity for the 26 weeks ended July 2, 2022 (in $000’s):


Beginning balance, January 1, 2022	$	17
Accrued		1,260
Settled		(946	)
Ending balance, July 2, 2022	$	331