MAYS J W INC Commitments Disclosure
12. CONTINGENCIES:
The Company is subject to various legal proceedings, claims, and litigation arising in the ordinary course of business operations. These matters include, but are not limited to, contractual disputes, third party slip and fall or personal injury claims which are typically handled by insurance counsel. It is the opinion of management that the resolution of these matters will not have a material adverse effect on the Company’s Consolidated Financial Statements.
If the Company sells, transfers, disposes of or demolishes 25 Elm Place, Brooklyn, New York, then the Company may be liable to create a condominium unit for the loading dock. The necessity of creating the condominium unit and the cost of such condominium unit cannot be determined at this time.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Oct 23, 2025 | Showing above |
| 2024 | Oct 24, 2024 | |
| 2023 | Oct 19, 2023 | |
| 2022 | Oct 20, 2022 | |
| 2021 | Oct 21, 2021 | |
| 2020 | Oct 8, 2020 | |
| 2019 | Oct 3, 2019 | |
| 2018 | Oct 4, 2018 | |
| 2017 | Oct 5, 2017 | |
| 2016 | Oct 6, 2016 | |
| 2015 | Oct 8, 2015 | |
About Commitments Disclosures
Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.
Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.