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Note 23 - Legal Proceedings

12 Months Ended

Dec. 31, 2023

Legal Matters and Contingencies [Text Block]

23.

Legal proceedings

The Company is not a party to, nor is any of its property subject to, any material pending legal proceedings, other than ordinary routine litigation incidental to its business. However, from time to time, the Company may be a party to, or a target of, lawsuits, claims, investigations, and proceedings, including product liability, personal injury, asbestos, patent and intellectual property, commercial, contract, environmental, antitrust, health and safety, and employment matters, which the Company expects to be handled and defended in the ordinary course of business. While the Company is unable to predict the outcome of any matters currently pending, the Company does not believe that the ultimate resolution of any such pending matters will have a material adverse effect on its overall financial condition, results of operations, or cash flows. However, adverse developments could negatively impact earnings or cash flows in future periods.

The Company entered into a settlement agreement to resolve the previously reported dispute regarding its February 2021 natural gas bill.

The natural gas settlement was a reduction to Cost of goods sold-related parties in the Consolidated Statements of Operations and Comprehensive Income in the period ended December 31, 2023 in the amount of $882. This settlement reduced Cost of goods sold for each segment equally.

As discussed in Note 21, Related Party Transactions, the “ultimate” natural gas supplier was not a related party of the Company.