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Note 5 - Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2022

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

Maturity date (Dollar amounts in thousands of U.S. dollars)		Notional amount of U.S. dollars				Weighted average exchange rate of U.S. dollars				Fair value Asset / (Liability)
April - June 2022		$	6,453				1.2801			$	163
July - September 2022			3,779				1.2801				95
October - December 2022			3,476				1.2801				86
		$	13,708				1.2801			$	344

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

Derivatives (Dollar amounts in thousands of U.S. dollars)		Balance Sheet Location		As of March 31, 2022 Fair Value Asset (Liability)				As of December 31, 2021 Fair Value Asset (Liability)
Foreign Currency forward contracts designated as cash flow hedges (net)		Derivative instruments		$	344			$	62
Interest rate swap contract designated as a cash flow hedge (net)		Derivative instruments			1,473				390
Total foreign currency and interest swap forward contracts (net)		Derivative instruments		$	1,817			$	452

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

		Gains and losses on cash flow hedges				Tax impact				Total AOCI
Opening AOCI balance - December 31, 2021		$	450			$	(107	)		$	343
Other comprehensive income (loss) before reclassifications			1,276				(308	)			968
Amount reclassified from AOCI			87				(21	)			66
Other comprehensive income (loss) for the three months ended March 31, 2022			1,363				(329	)			1,034
Ending AOCI Balance - March 31, 2022		$	1,813			$	(436	)		$	1,377

Derivatives in Cash Flow Hedging Relationship		Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative			Location of Gain or (Loss) Reclassified from AOCI into Income		Amount of Gain or (Loss) Reclassified from AOCI into Income
					Operating expenses		$	(58	)
Foreign currency forward contracts for the three months ended March 31, 2022		$	1,056		Cost of revenues		$	(12	)
Interest rate swap contract for the three months ended March 31, 2022		$	(88	)	Interest expense, net		$	(17	)
					Operating expenses		$	949
Foreign currency forward contracts for the three months ended March 31, 2021		$	(615	)	Cost of revenues		$	156
Interest rate swap contract for the three months ended March 31, 2021		$	149		Interest expense, net		$	(19	)

Derivatives Not Designated as Hedging Instruments [Table Text Block]

		Three Months Ended March 31,
Forward currency contracts not designated as hedges:		2022				2021
Gain (loss) on settlement		$	-			$	420
Gain (loss) on change in fair value							(167	)
		$	-			$	253

X

- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

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