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Note 9 - Pensions and Other Postretirement Benefits (Tables) | 12 Months Ended
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Dec. 31, 2021
Notes Tables |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] |
|  | Pension Plan |  |  | Postretirement Plan |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Accumulated benefit obligation at end of year |  | $ | 67,400 |  |  | $ | 69,554 |  |  | $ | 28,934 |  |  | $ | 29,848 |
Change in projected benefit obligation: |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 86,299 |  |  | $ | 81,325 |  |  | $ | 29,848 |  |  | $ | 26,055 |
Service cost |  |  | 2,662 |  |  |  | 2,709 |  |  |  | 1,462 |  |  |  | 1,372 |
Interest cost |  |  | 1,729 |  |  |  | 1,937 |  |  |  | 654 |  |  |  | 778 |
Settlement |  |  | 651 |  |  |  | 1,854 |  |  |  | - |  |  |  | - |
Benefits paid |  |  | (7,719 | ) |  |  | (12,872 | ) |  |  | (1,618 | ) |  |  | (1,305 | )
Effect of foreign exchange |  |  |  |  |  |  |  |  |  |  | 1 |  |  |  | 9 |
Actual expenses |  |  | (150 | ) |  |  | (150 | ) |  |  | - |  |  |  | - |
Actuarial (gain)/ loss |  |  | (1,472 | ) |  |  | 11,496 |  |  |  | (1,413 | ) |  |  | 2,939 |
Benefit obligation at end of year |  | $ | 82,000 |  |  | $ | 86,299 |  |  | $ | 28,934 |  |  | $ | 29,848 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Plan assets at beginning of year |  | $ | 77,067 |  |  | $ | 80,285 |  |  | $ | - |  |  | $ | - |
Actual return on plan assets |  |  | 1,460 |  |  |  | 7,804 |  |  |  | - |  |  |  | - |
Employer contributions |  |  | 2,000 |  |  |  | 2,000 |  |  |  | 1,618 |  |  |  | 1,305 |
Benefits paid |  |  | (7,719 | ) |  |  | (12,872 | ) |  |  | (1,618 | ) |  |  | (1,305 | )
Actual expenses |  |  | (150 | ) |  |  | (150 | ) |  |  | - |  |  |  | - |
Plan assets at end of year |  | $ | 72,658 |  |  | $ | 77,067 |  |  | $ | - |  |  | $ | - |
Funded status at end of year |  | $ | (9,342 | ) |  | $ | (9,232 | ) |  | $ | (28,934 | ) |  | $ | (29,848 | )
|  | Pension Plan |  |  | Postretirement Plan |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Amounts recognized in the Consolidated Balance Sheets consist of: |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | - |  |  | $ | - |  |  | $ | (1,575 | ) |  | $ | (1,598 | )
Noncurrent liabilities |  |  | (9,342 | ) |  |  | (9,232 | ) |  |  | (27,359 | ) |  |  | (28,250 | )
Total assets (liabilities) |  | $ | (9,342 | ) |  | $ | (9,232 | ) |  | $ | (28,934 | ) |  | $ | (29,848 | )
Amounts recognized in Accumulated other comprehensive loss consist of: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | $ | 26,016 |  |  | $ | 28,896 |  |  | $ | 5,841 |  |  | $ | 7,834 |
Prior Service Cost |  |  | - |  |  |  | - |  |  |  | (2,125 | ) |  |  | (3,255 | )
Deferred tax (benefit) expense |  |  | (6,446 | ) |  |  | (7,130 | ) |  |  | (807 | ) |  |  | (1,012 | )
After tax actuarial loss (gain) |  | $ | 19,570 |  |  | $ | 21,766 |  |  | $ | 2,909 |  |  | $ | 3,567 |
Schedule of Costs of Retirement Plans [Table Text Block] |
Components of net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Pension Plan |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 2,662 |  |  | $ | 2,709 |  |  | $ | 2,204 |
Interest cost |  |  | 1,729 |  |  |  | 1,937 |  |  |  | 2,454 |
Expected return on plan assets |  |  | (3,610 | ) |  |  | (3,900 | ) |  |  | (3,561 | )
Recognized actuarial loss |  |  | 1,904 |  |  |  | 2,160 |  |  |  | 1,726 |
Settlement loss |  |  | 2,304 |  |  |  | 4,583 |  |  |  | - |
Net periodic benefit cost |  | $ | 4,989 |  |  | $ | 7,489 |  |  | $ | 2,823 |
Other changes in pension plan assets and benefit obligations recognized in other comprehensive loss: |
Net (gain) loss |  |  | (2,879 | ) |  |  | 2,704 |  |  | $ | 3,034 |
Total expense recognized in net periodic benefit cost and other comprehensive income |  | $ | 2,110 |  |  | $ | 10,193 |  |  | $ | 5,857 |
Postretirement Plan |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 1,462 |  |  | $ | 1,372 |  |  | $ | 1,083 |
Interest cost |  |  | 654 |  |  |  | 778 |  |  |  | 941 |
Prior service cost recognition |  |  | (1,130 | ) |  |  | (1,129 | ) |  |  | (1,129 | )
Recognized actuarial loss (gain) |  |  | 580 |  |  |  | 306 |  |  |  | 27 |
Net periodic benefit cost (credit) |  | $ | 1,566 |  |  | $ | 1,327 |  |  | $ | 922 |
Other changes in postretirement plan assets and benefit obligations recognized in other comprehensive loss: |
Net loss (gain) |  | $ | (863 | ) |  | $ | 3,762 |  |  | $ | 3,749 |
Total expense (benefit) recognized in net periodic benefit cost and other comprehensive income |  | $ | 703 |  |  | $ | 5,089 |  |  | $ | 4,671 |
Defined Benefit Plan, Assumptions [Table Text Block] |
|  | Pension Plan |  |  | Postretirement Plan |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Weighted-average assumptions used to determine benefit obligations at December 31: |  |  |  |  |  |  |  |  |
Discount rate |  |  | 2.44 | % |  |  | 1.97 | % |  |  | 2.70 | % |  |  | 2.25 | %
Rate of compensation increase |  |  | 3.50 | % |  |  | 3.50 | % |  |  | - |  |  |  | - |
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31: |  |  |  |  |  |  |  |  |
Discount rate |  |  | 2.07 | % |  |  | 2.40 | % |  |  | 2.25 | % |  |  | 3.08 | %
Expected long-term rate of return on plan assets |  |  | 5.10 | % |  |  | 5.36 | % |  |  | – |  |  |  | – |
Rate of compensation increase |  |  | 3.50 | % |  |  | 3.50 | % |  |  | – |  |  |  | – |
Schedule of Allocation of Plan Assets [Table Text Block] |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Plan Assets at December 31, 2021 |
Equity |  | $ | 10,979 |  |  | $ | - |  |  | $ | - |  |  | $ | 10,979 |
Fixed income |  |  | 8,788 |  |  |  | 42,154 |  |  |  | 139 |  |  |  | 51,081 |
Mutual funds |  |  | 3,045 |  |  |  |  |  |  |  | - |  |  |  | 3,045 |
Money funds and cash |  |  | 2,220 |  |  |  | 5,333 |  |  |  | - |  |  |  | 7,553 |
Total fair value of Plan assets |  | $ | 25,032 |  |  | $ | 47,487 |  |  | $ | 139 |  |  | $ | 72,658 |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Plan Assets at December 31, 2020 |
Equity |  | $ | 12,619 |  |  | $ | - |  |  | $ | 20 |  |  | $ | 12,639 |
Fixed income |  |  | 9,582 |  |  |  | 45,463 |  |  |  | - |  |  |  | 55,045 |
Mutual funds |  |  | 2,108 |  |  |  | - |  |  |  | - |  |  |  | 2,108 |
Money funds and cash |  |  | 2,089 |  |  |  | 5,186 |  |  |  | - |  |  |  | 7,275 |
Total fair value of Plan assets |  | $ | 26,398 |  |  | $ | 50,649 |  |  | $ | 20 |  |  | $ | 77,067 |
Schedule of Expected Benefit Payments [Table Text Block] |
|  | 2022 |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | Thereafter |
Pension |  | $ | 14,089 |  |  | $ | 3,963 |  |  | $ | 4,867 |  |  | $ | 3,929 |  |  | $ | 4,950 |  |  | $ | 26,412 |
Postretirement |  |  | 1,596 |  |  |  | 1446 |  |  |  | 1,485 |  |  |  | 1,488 |  |  |  | 1,537 |  |  |  | 9,151 |

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- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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