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Note 14 - Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019
--- | --- | ---
Deferred tax assets: |  |
Inventory (excluding LIFO reserve) | $ 1,529 | $ 1,353
Net operating loss and tax credit carryforwards | 3,510 | 3,198
Allowance for credit losses | 440 | 513
Accrued expenses | 5,778 | 5,486
Lease liabilities | 7,348 | 6,718
Interest rate hedge | 1,405 | 760
Other | 390 | 237
Deferred tax assets before valuation allowance | 20,400 | 18,265
Valuation allowance | (2,302) | (2,215)
Total deferred tax assets | 18,098 | 16,050
Deferred tax liabilities: |  |
LIFO reserve | (3,528) | (3,646)
Property and equipment | (13,562) | (13,250)
Lease right of use assets | (7,294) | (6,718)
Intangibles | (3,532) | (4,698)
Total deferred tax liabilities | (27,916) | (28,312)
Deferred tax liabilities, net | $ (9,818) | $ (12,262)

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