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Note 13 - Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

($ in thousands)		2024				2023				2022
Federal:
Current		$	(926	)		$	3,877			$	5,993
Deferred			2,337				(977	)			(1,417	)
Total federal			1,411				2,900				4,576
State & local:
Current			140				262				1,415
Deferred			148				123				(247	)
Total state & local			288				385				1,168
Foreign
Current			878				106				182
Deferred			94				337				(623	)
Total foreign			972				443				(441	)
Total		$	2,671			$	3,728			$	5,303

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

		Year Ended December 31,
($ in thousands)		2024				2023				2022
Expected expense at statutory rate		$	2,947			$	2,975			$	5,414
Increase (decrease) in income taxes resulting from:
Tax on repatriated earnings from foreign operations			399				190				316
State and local income taxes			227				407				734
Tax rate differential effect of foreign operations			230				106				160
Permanent differences			165				69				11
Change in valuation allowance			(200	)			355				-
Provision to return filing adjustments and other			(117	)			329				(352	)
Foreign tax credit			(468	)			(227	)			(348	)
Exempt income from Dominican Republic operations due to tax holiday			(512	)			(476	)			(632	)
Total		$	2,671			$	3,728			$	5,303

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

($ in thousands)		2024				2023
Deferred tax assets:
Inventories		$	3,640			$	2,428
Lease assets			1,252				1,853
Asset valuation allowances and accrued expenses			957				967
Transaction costs			608				684
Net operating losses			318				866
163(J) Interest limitation			262				4,644
State and local income taxes			195				305
Pension and deferred compensation			56				54
Total deferred tax assets			7,288				11,801
Valuation allowances			(155	)			(355	)
Total deferred tax assets			7,133				11,446
Deferred tax liabilities:
Intangible assets			11,908				11,713
Fixed assets			3,231				4,166
Lease liabilities			1,195				1,786
Other assets			587				748
Tollgate tax on Lifestyle earnings			228				228
State and local income taxes			28				280
Total deferred tax liabilities			17,177				18,921
Net deferred tax liability		$	10,044			$	7,475

Summary of Income Tax Examinations [Table Text Block]

		Earliest Exam Year
Taxing authority jurisdiction:
U.S. federal			2021
Various U.S. states		2020
Puerto Rico (U.S. territory)		2019
Canada		2019
China		2021
Mexico		2021
United Kingdom		2022
Australia		2022

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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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded.

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