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Note 14 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		As of December 31,
(in thousands)		2020				2019				2018
Current:
Federal		$	321			$	1,747			$	9,188
International			103				107				-
State and local			59				22				1,797
			483				1,876				10,985
Deferred			(1,799	)			(443	)			1,320
Income tax provision (benefit)		$	(1,316	)		$	1,433			$	12,305

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(in thousands)		2020				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	)

Schedule of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns Roll Forward [Table Text Block]

(in thousands)		2020				2019				2018
Balance as of January 1		$	28			$	27			$	40
Change in tax due to tax law			-				-				(12	)
Increases related to current year tax positions			8				10				9
Decreases related to lapsing of statute of limitations			(8	)			(9	)			(10	)
Balance as of December 31		$	28			$	28			$	27

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		2020				2019				2018
U.S. federal statutory rate in effect			21.0	%			21.0	%			21.0	%
State and local taxes, net of federal benefit			1.0	%			3.7	%			4.6	%
Meals and entertainment			(1.8	)%			5.8	%			0.6	%
Tax credits			2.0	%			(4.2	)%			(0.6	)%
Stock based compensation			(3.4	)%			-				-
All other, net			0.2	%			0.8	%			1.1	%
Effective income tax rate			19.0	%			27.1	%			26.7	%

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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