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

Quarterly report pursuant to Section 13 or 15(d)

Accrued Liabilities

Accrued Liabilities

9 Months Ended

Oct. 01, 2022

Payables and Accruals [Abstract]

Accrued Liabilities

Note 12: Accrued Liabilities

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


	October 1, 2022		January 1, 2022
Compensation and benefits	$	948	$	731
Contract liability		678		17
Accrued incentive and rebate checks		1,986		1,427
Accrued transportation costs*		—		904
Accrued guarantees		130		767
Accrued purchase orders		—		23
Accrued taxes		507		543
Accrued litigation settlement		680		680
Other		646		140
Total accrued expenses	$	5,575	$	5,232

During the 39 weeks ended October 1, 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 39 weeks ended October 2, 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 39 weeks ended October 1, 2022 (in $000’s):


Beginning balance, January 1, 2022	$	17
Accrued		1,906
Settled		(1,245	)
Ending balance, October 1, 2022	$	678