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Note 9 - Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

9.	Accumulated Other Comprehensive Loss

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 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, 2022		$	(1,532	)		$	94			$	649			$	(789	)

Other comprehensive income (loss) before reclassifications			26				(10	)			(59	)			(43	)
Amounts reclassified from Accumulated other comprehensive loss			3				32				(119	)			(84	)
Net current period other comprehensive income (loss)			29				22				(178	)			(127	)

Balances, March 31, 2023		$	(1,503	)		$	116			$	471			$	(916	)

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

		Amount reclassified from Accumulated Other Comprehensive Loss							Affected line item in the Condensed Consolidated
		Three Months Ended March 31,							Affected line item in the Condensed Consolidated
		2023				2022			Statements of Operations

Pension liability adjustment:
Net periodic pension cost:
Service cost		$	(3	)		$	(2	)	Cost of sales
			(3	)			(2	)

Unrealized gain (loss) on foreign currency forward contracts:
Gain on cash flow hedges			44				14		Net sales
Loss on cash flow hedges			(87	)			-		Property and equipment
Associated income tax (expense) benefit			11				(3	)	Income tax expense
			(32	)			11

Unrealized gain on interest rate swap:
Gain on cash flow hedges			158				-		Interest expense
Associated income tax expense			(39	)			-		Income tax expense
			119				-

Total reclassifications for the period		$	84			$	9