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Note 5 - Concentration of Credit Risk
12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

5.    Concentration of Credit Risk:

 

Financial instruments that potentially expose us to credit risk consist primarily of cash and cash equivalents as well as accounts receivable, net which are generally not collateralized. We maintain our cash and cash equivalents in higher credit quality financial institutions in order to limit the amount of credit exposure. The total domestic cash balances are insured by the Federal Deposit Insurance Corporation (“FDIC”) to a maximum amount of $250.0 thousand per bank as of December 31, 2021 and 2020. As of December 31, 2021 and 2020, we had cash balances on deposit with fifteen and ten banks that exceeded the balance insured by the FDIC limit by approximately$40.3 million and $92.8 million, respectively. As of December 31, 2021 and 2020, we also had cash on deposit with foreign banks of approximately $240.4 million and $122.5 million, respectively.

 

We consider the concentration of credit risk associated with our accounts receivable to be commercially reasonable and believe that such concentration does not result in the significant risk of near-term severe adverse impacts. Our top fifty customers represent approximately 32% of revenues for 2021 and 33% for 2020 and 2019, respectively, with no individual customer accounting for more than approximately 3% of revenues for the years ended December 31, 2021, 2020, and 2019. No individual customer comprised more than approximately 4% and 2% of accounts receivable as of December 31, 2021 and 2020, respectively.