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Note 7 - Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 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
January - March 2023			15,132				1.3283				(270	)
April - June 2023			13,074				1.3385				(119	)
July - September 2023			11,332				1.3633				113
October - December 2023			10,150				1.3744				192
		$	49,688				1.3484			$	(84	)

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 December 31, 2022 Fair Value Asset				As of December 31, 2021 Fair Value Asset
Foreign Currency forward contracts designated as cash flow hedges (net)	Derivative instruments		$	(84	)		$	62
Interest rate swap contract designated as a cash flow hedge (net)	Derivative instruments			1,598				390
Foreign Currency forward contracts not designated as cash flow hedges (net)	Derivative instruments			-				-
Total foreign currency forward contracts and interest rate swaps (net)	Derivative instruments		$	1,514			$	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			550				(132	)			418
Amount reclassified from AOCI			793				(193	)			600
Amortization of discontinued cash flow hedge			(761	)			184				(577	)
Other comprehensive income (loss) for the year ended December 31, 2022			582				(141	)			441
Ending AOCI Balance - December 31, 2022		$	1,032			$	(248	)		$	784

		Gains and losses on cash flow hedges				Tax impact				Total AOCI
Opening AOCI balance - December 31, 2020		$	3,038			$	(702	)		$	2,336
Other comprehensive income (loss) before reclassifications			794				(222	)			572
Amount reclassified from AOCI			(3,382	)			817				(2,565	)
Other comprehensive income (loss) for the year ended December 31, 2021			(2,588	)			595				(1,993	)
Ending AOCI Balance - December 31, 2021		$	450			$	(107	)		$	343

		Gains and losses on cash flow hedges				Tax impact				Total AOCI
Opening AOCI balance - December 31, 2019		$	625			$	(152	)		$	473
Other comprehensive income (loss) before reclassifications			2,142				(489	)			1,653
Amount reclassified from AOCI			271				(61	)			210
Other comprehensive income (loss) for the year ended December 31, 2020			2,413				(550	)			1,863
Ending AOCI Balance - December 31, 2020		$	3,038			$	(702	)		$	2,336

Derivative Instruments, Gain (Loss) [Table Text Block]

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		$	(691	)
Foreign currency forward contracts for the year ended December 31, 2022		$	(1,014	)	Cost of revenues		$	(171	)
Interest rate swap contract for the year ended December 31, 2022		$	1,430		Interest expense, net		$	69
					Operating expenses		$	2,652
Foreign currency forward contracts for the year ended December 31, 2021		$	(2,203	)	Cost of revenues		$	615
Interest rate swap contract for the year ended December 31, 2021		$	(210	)	Interest expense, net		$	115
					Operating expenses		$	(188	)
Foreign currency forward contracts for the year ended December 31, 2020		$	2,026		Cost of revenues		$	(66	)
Interest rate swap contract for the year ended December 31, 2020		$	(163	)	Interest expense, net		$	(17	)

Derivatives Not Designated as Hedging Instruments [Table Text Block]

		Year Ended December 31,
Forward currency contracts not designated as hedges:		2022				2021				2020
Gain (loss) on settlement		$	-			$	883			$	(117	)
Gain (loss) on change in fair value			-				(606	)			500
		$	-			$	277			$	383

		Year Ended December 31,
Interest rate swap contracts not designated as hedges:		2022				2021				2020
Gain (loss) on matured swaps		$	777			$	-			$	-
Gain (loss) on change in fair value on unsettled swaps			(281	)			-				-
		$	496			$	-			$	-

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