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Note 5 - Credit Facilities | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Debt Disclosure [Text Block] | Note 5 – Credit Facilities The Company may borrow up to $20.0 million with interest at LIBOR plus 0.75% or at alternative rates as selected by the Company under an unsecured bank line of credit which matures in February 2022. The Company pays a non-usage fee of 0.1% per annum on the average unused portion of the line of credit. At December 31, 2019 and 2018, $19.9 million and $19.7 million, respectively, was available for borrowing after deducting $0.1 million and $0.3 million in outstanding letters of credit, respectively. The Company also has an $8.0 million unsecured bank line of credit with interest at LIBOR plus 0.75% payable monthly which matures in May 2021. At December 31, 2019 and 2018, $3.6 million and $2.4 million, respectively, was available for borrowing after deducting $4.4 million and $5.6 million in outstanding letters of credit, respectively. The Company also has a $3.0 million bank guarantee with interest at 1.75% in an agreement dated June 2016. At December 31, 2019 and 2018, $1.0 million and $1.0 million, respectively, was available for borrowing after deducting $2.0 million and $2.0 million in outstanding letters of credit, respectively. The credit facilities described above contain standard restrictive covenants, including limits on additional borrowings and maintenance of certain operating and financial ratios. At December 31, 2019 and 2018, the Company was in compliance with all requirements. Interest expense, which approximates interest paid, was $1,000, $1,000 and $17,000 in 2019, 2018 and 2017, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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