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Note 4 - Other Expense, Net
12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Other Income and Other Expense Disclosure [Text Block]

(4)         Other Expense, Net

 

The Company recognized other expense of $645,000 during the year ended December 31, 2021. During the year ended December 31, 2021, the Company recognized pension expense of $614,000. Foreign currency related expenses were not material for the year ended December 31, 2021.

 

The Company recognized other expense of $544,000 during the year ended December 31, 2020. During the year ended, December 31, 2020, the Company completed the sale of the Company’s Louisville, Kentucky automotive and commercial vehicle manufacturing plant (the “Broadway Plant”) real estate for $1,700,000 and other idle assets for $268,000 and recognized net gains of $813,000. The $813,000 gain on disposal was offset by a loss on the abandonment of assets of $577,000 and pension expense of $728,000, which were all within the Sypris Technologies segment. Foreign currency related expenses were not material for the year ended December 31, 2020.