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Note 18 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

18.

ACCUMULATED OTHER COMPREHENSIVE LOSS:

Accumulated other comprehensive loss consists of the following (in thousands):

		December 31,
		2022				2021

Pension liability adjustment, net of income tax benefit of $592 and $577		$	(1,532	)		$	(1,487	)
Unrealized gain (loss) on foreign currency forward contracts designated as cash flow hedges, net of income tax (expense) benefit of $(33) and $61			94				(195	)
Unrealized gain on interest rate swap designated as cash flow hedge, net of income tax (expense) of $(213) and $0			649				-
Total		$	(789	)		$	(1,682	)

The following table summarizes changes in the components of Accumulated other comprehensive loss (in thousands). All amounts are net of income tax:

		Pension Liability Adjustment				Unrealized Gain (Loss) on Foreign Currency Forward Contracts Designated as Cash Flow Hedges				Unrealized Gain on Interest Rate Swap Designated as Cash Flow Hedge				Total

Balances, December 31, 2021		$	(1,487	)		$	(195	)		$	-			$	(1,682	)

Other comprehensive income (loss) before reclassifications			41				(100	)			678				619
Amounts reclassified from Accumulated other comprehensive loss			(86	)			389				(29	)			274
Net current period other comprehensive income (loss)			(45	)			289				649				893

Balances, December 31, 2022		$	(1,532	)		$	94			$	649			$	(789	)

The following table provides additional detail about Accumulated other comprehensive loss components that were reclassified to the Consolidated Statements of Operations (in thousands):

		Amount reclassified from Accumulated Other Comprehensive Loss											Affected line item in the
Details about Accumulated Other		Year Ended December 31,											Consolidated Statements
Comprehensive Loss Components		2022				2021				2020			of Operations

Pension liability adjustment:
Net periodic pension cost:
Service cost		$	(13	)		$	(7	)		$	(16	)	Cost of sales
Non-service cost			127				110				46		Other income
Associated income tax expense			(28	)			(25	)			(8	)	Income tax expense
			86				78				22

Unrealized gain (loss) on foreign currency forward contracts:
Gain (loss) on cash flow hedges			163				(72	)			(378	)	Net sales
Loss on cash flow hedges			(680	)			-				-		Property and equipment
Associated income tax benefit			128				18				97		Income tax expense
			(389	)			(54	)			(281	)

Unrealized gain on interest rate swap:
Gain on cash flow hedge			39				-				-		Interest expense
Associated income tax expense			(10	)			-				-		Income tax expense
			29				-				-

Total reclassifications for the period		$	(274	)		$	24			$	(259	)