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Note 18 - Accumulated Other Comprehensive Loss | 12 Months Ended
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Dec. 31, 2023
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, |
|  | 2023 |  |  | 2022 |
Pension liability adjustment, net of income tax benefit of $482 and $592 |  | $ | (1,193 | ) |  | $ | (1,532 | )
Unrealized gain (loss) on foreign currency forward contracts designated as cash flow hedges, net of income tax (expense) benefit of $12 and $(33) |  |  | (13 | ) |  |  | 94 |
Unrealized gain on interest rate swaps designated as cash flow hedges, net of income tax expense of $79 and $213 |  |  | 246 |  |  |  | 649 |
Total |  | $ | (960 | ) |  | $ | (789 | )
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 Swaps Designated as Cash Flow Hedges |  |  | 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 adjustments to Other comprehensive income |  |  | (45 | ) |  |  | 289 |  |  |  | 649 |  |  |  | 893 |
Balances, December 31, 2022 |  |  | (1,532 | ) |  |  | 94 |  |  |  | 649 |  |  |  | (789 | )
Other comprehensive income (loss) before reclassifications |  |  | 338 |  |  |  | (115 | ) |  |  | 142 |  |  |  | 365 |
Amounts reclassified from Accumulated other comprehensive loss |  |  | 1 |  |  |  | 8 |  |  |  | (545 | ) |  |  | (536 | )
Net current period adjustments to Other comprehensive loss |  |  | 339 |  |  |  | (107 | ) |  |  | (403 | ) |  |  | (171 | )
Balances, December 31, 2023 |  | $ | (1,193 | ) |  | $ | (13 | ) |  | $ | 246 |  |  | $ | (960 | )
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 Consolidated
Details about Accumulated Other |  | Year Ended December 31, |  | Statements
Comprehensive Loss Components |  | 2023 |  |  | 2022 |  |  | 2021 |  | of Operations
Pension liability adjustment: |  |  |  |  |  |  |  |  |  |  |  |  |
Net periodic pension cost: |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | (13 | ) |  | $ | (13 | ) |  | $ | (7 | ) | Cost of sales
Non-service cost |  |  | 11 |  |  |  | 127 |  |  |  | 110 |  | Other income
Associated income tax (expense) benefit |  |  | 1 |  |  |  | (28 | ) |  |  | (25 | ) | Income tax expense
|  |  | (1 | ) |  |  | 86 |  |  |  | 78 |  |
Unrealized gain (loss) on foreign currency forward contracts: |  |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on cash flow hedges |  |  | 99 |  |  |  | 163 |  |  |  | (72 | ) | Net sales
Loss on cash flow hedges |  |  | (109 | ) |  |  | (680 | ) |  |  | - |  | Property and equipment
Associated income tax benefit |  |  | 2 |  |  |  | 128 |  |  |  | 18 |  | Income tax expense
|  |  | (8 | ) |  |  | (389 | ) |  |  | (54 | ) |
Unrealized gain on interest rate swaps: |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on cash flow hedges |  |  | 719 |  |  |  | 39 |  |  |  | - |  | Interest expense
Associated income tax expense |  |  | (174 | ) |  |  | (10 | ) |  |  | - |  | Income tax expense
|  |  | 545 |  |  |  | 29 |  |  |  | - |  |
Total reclassifications for the period |  | $ | 536 |  |  | $ | (274 | ) |  | $ | 24 |  |

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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 + Details
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