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Note 5 - Other Income, Net
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Other Income and Other Expense Disclosure [Text Block]
(
5
)
Other Income, Net
 
The Company recognized other income of
$1,256,000
during the year ended
December 
31,
2019.
During
2019,
the Company recognized a gain of
$1,500,000
as a result of a settlement agreement with
one
of its customers to resolve various outstanding disputes between the
two
parties. As a result of the agreement, the customer paid the Company
$1,500,000
in compensation during
2019.
Additionally, the Company recognized a net gain of
$654,000
in the year ended
December 31, 
2019
related to the sale of idle assets and foreign currency related gains of
$152,000
related to the net U.S. dollar denominated monetary asset position of our Mexican subsidiaries for which the Mexican peso is the functional currency. This was offset by pension expense of
$970,000.
 
The Company recognized other income of
$1,436,000
during the year ended
December 
31,
 
2018.
Subsequent to the transfer of production from the Broadway Plant, the primary water supply and sprinkler pipes within the facility suffered freeze damage during an extended period of extreme cold temperatures. The Company and its insurer reached a full and final settlement agreement with respect to the claim during the
second
quarter of
2018.
During the year ended
December 31, 
2018,
the Company received insurance proceeds of
$2,447,000
and recognized an insurance recovery gain of
$2,275,000,
net of expenses incurred for claim related expenses. Additionally, the Company recognized foreign currency related gains of
$21,000,
a net loss of
$249,000
related to the sale of certain idle assets, and pension expense of
$584,000.