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Note 18 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2024

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,
		2024				2023
Pension liability adjustment, net of income tax benefit of $392 and $482		$	(919	)		$	(1,193	)
Unrealized gain (loss) on foreign currency forward contracts designated as cash flow hedges, net of income tax (expense) benefit of ($9) and $12			10				(13	)
Unrealized gain on interest rate swaps designated as cash flow hedges, net of income tax expense of $24 and $79			75				246
Total		$	(834	)		$	(960	)

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, 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	)
Other comprehensive income before reclassifications			309				21				70				400
Amounts reclassified from Accumulated other comprehensive loss			(35	)			2				(241	)			(274	)
Net current period adjustments to Other comprehensive income			274				23				(171	)			126
Balances, December 31, 2024		$	(919	)		$	10			$	75			$	(834	)

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		2024				2023				2022			of Operations
Pension liability adjustment:
Net periodic pension cost:
Service cost		$	(10	)		$	(13	)		$	(13	)	Cost of sales
Non-service cost			53				11				127		Other income (loss)
Associated income tax (expense) benefit			(8	)			1				(28	)	Income tax expense
			35				(1	)			86
Unrealized gain (loss) on foreign currency forward contracts:
Gain (loss) on cash flow hedges			(3	)			99				163		Net sales
Loss on cash flow hedges			-				(109	)			(680	)	Property and equipment
Associated income tax benefit			1				2				128		Income tax expense
			(2	)			(8	)			(389	)
Unrealized gain on interest rate swaps:
Gain on cash flow hedges			319				719				39		Interest expense
Associated income tax expense			(78	)			(174	)			(10	)	Income tax expense
			241				545				29
Total reclassifications for the period		$	274			$	536			$	(274	)

X

- 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/1943274/2147477250/944-220-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/1943274/2147478524/942-220-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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