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Note 10 - Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

10. Accumulated Other Comprehensive Loss

The following tables summarize 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 Swaps Designated as Cash Flow Hedges				Total
Balances, December 31, 2022		$	(1,532	)		$	94			$	649			$	(789	)
Other comprehensive income (loss) before reclassifications			53				(109	)			173				117
Amounts reclassified from Accumulated other comprehensive loss			6				8				(266	)			(252	)
Net current period other comprehensive income (loss)			59				(101	)			(93	)			(135	)
Balances, June 30, 2023		$	(1,473	)		$	(7	)		$	556			$	(924	)

		Pension Liability Adjustment				Unrealized Loss on Foreign Currency Forward Contracts Designated as Cash Flow Hedges				Unrealized Gain on Interest Rate Swaps Designated as Cash Flow Hedges				Total
Balances, December 31, 2021		$	(1,487	)		$	(195	)		$	-			$	(1,682	)
Other comprehensive income (loss) before reclassifications			41				(598	)			171				(386	)
Amounts reclassified from Accumulated other comprehensive loss			3				195				62				260
Net current period other comprehensive income (loss)			44				(403	)			233				(126	)
Balances, June 30, 2022		$	(1,443	)		$	(598	)		$	233			$	(1,808	)

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 June 30,								Six Months Ended June 30,							Statements of
		2023				2022				2023				2022			Operations
Pension liability adjustment:
Net periodic pension cost:
Service cost		$	(3	)		$	(1	)		$	(6	)		$	(3	)	Cost of sales
			(3	)			(1	)			(6	)			(3	)	Net of tax
Unrealized gain (loss) on foreign currency forward contracts:
Gain (loss) on cash flow hedges			33				(105	)			77				(91	)	Net sales
Loss on cash flow hedges			-				(127	)			(87	)			(127	)	Property and equipment
Associated income tax (expense) benefit			(9	)			26				2				23		Income tax expense
			24				(206	)			(8	)			(195	)	Net of tax
Unrealized gain (loss) on interest rate swaps:
Gain (loss) on cash flow hedges			194				(82	)			352				(82	)	Interest expense
Associated income tax (expense) benefit			(47	)			20				(86	)			20		Income tax expense
			147				(62	)			266				(62	)	Net of tax
Total reclassifications for the period		$	168			$	(269	)		$	252			$	(260	)

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//220/tableOfContent

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- References

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