XML 38 R26.htm IDEA: XBRL DOCUMENT v3.22.2.2

Note 5 - Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 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
October - December 2022		$	14,897				1.2906			$	(971	)
January - March 2023			15,132				1.3283				(552	)
April - June 2023			13,074				1.3385				(364	)
July - September 2023			11,332				1.3633				(102	)
October - December 2023			10,150				1.3744				-
		$	64,585				1.3351			$	(1,989	)

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 September 30, 2022 Fair Value Asset				As of December 31, 2021 Fair Value Asset
Foreign Currency forward contracts designated as cash flow hedges (net)		Derivative instruments		$	(1,989	)		$	62
Interest rate swap contract discontinued as a cash flow hedge (net)		Derivative instruments			2,015			$	390
Total foreign currency and interest swap forward contracts (net)		Derivative instruments		$	26			$	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 - June 30, 2022		$	1,974			$	(476	)		$	1,498
Other comprehensive income (loss) before reclassifications			(2,209	)			535				(1,674	)
Amount reclassified from AOCI			123				(30	)			93
Amortization of discontinued cash flow hedge			(254	)			61				(193	)
Other comprehensive income (loss) for the three months ended September 30, 2022			(2,340	)			566				(1,774	)
Ending AOCI Balance - September 30, 2022		$	(366	)		$	90			$	(276	)

		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			(673	)			163				(510	)
Amount reclassified from AOCI			111				(27	)			84
Amortization of discontinued cash flow hedge			(254	)			61				(193	)
Other comprehensive income (loss) for the nine months ended September 30, 2022			(816	)			197				(619	)
Ending AOCI Balance - September 30, 2022		$	(366	)		$	90			$	(276	)

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		$	(97	)
Foreign currency forward contracts for the three months ended September 30, 2022		$	(1,666	)	Cost of revenues		$	(26	)
Interest rate swap contract for the three months ended September 30, 2022		$	(8	)	Interest expense, net		$	254
					Operating expenses		$	967
Foreign currency forward contracts for the three months ended September 30, 2021		$	(466	)	Cost of revenues		$	219
Interest rate swap contract for the three months ended September 30, 2021		$	(35	)	Interest expense, net		$	(36	)

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		$	(145	)
Foreign currency forward contracts for the nine months ended September 30, 2022		$	(1,941	)	Cost of revenues		$	(35	)
Interest rate swap contract for the nine months ended September 30, 2022		$	1,431		Interest expense, net		$	323
					Operating expenses		$	3,004
Foreign currency forward contracts for the nine months ended September 30, 2021		$	42		Cost of revenues		$	643
Interest rate swap contract for the nine months ended September 30, 2021		$	73		Interest expense, net		$	(81	)

Derivatives Not Designated as Hedging Instruments [Table Text Block]

		Three Months Ended September 30,								Nine Months Ended September 30,
Forward currency contracts not designated as hedges:		2022				2021				2022				2021
Gain (loss) on settlement		$	-			$	336			$	-			$	883
Gain (loss) on change in fair value		$	-			$	(249	)		$	-			$	(606	)
		-				87				-				277

		Three Months Ended September 30,				Nine Months Ended September 30,
Interest rate swap contracts not designated as hedges:		2022		2021		2022		2021
Gain (loss) on matured swaps	$	254	$	-	$	254	$	-
Gain (loss) on change in fair value on unsettled swaps	$	136	$	-	$	136	$	-
		390		-		390		-

X

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

+ Details

Name:	us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4CC
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL109998890-113959

+ Details

Name:	us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_TableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration