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Note 17 - Stockholders' Equity
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Equity [Text Block]

(17)

Stockholders’ Equity

 

As of December 31, 2023 and 2022, 24,850 shares of the Company’s preferred stock were designated as Series A Preferred Stock in accordance with the terms of our stockholder rights plan, which expired in October 2011. There are no shares of Series A Preferred Stock currently outstanding, and there are no current plans to issue any such shares.

 

The holders of our common stock were not entitled to any payment as a result of the expiration of the rights plan and the rights issued thereunder.

 

The Company’s accumulated other comprehensive loss consists of employee benefit related adjustments and foreign currency translation adjustments.

 

Accumulated other comprehensive loss consisted of the following (in thousands):

 

   

December 31,

  
   

2023

    

2022

  

Foreign currency translation adjustments, net of tax

   $ (7,869

)

   $ (10,458

)

Employee benefit related adjustments – U.S, net of tax

     (9,281

)

     (10,488

)

Employee benefit related adjustments – Mexico, net of tax

     83       101  

Accumulated other comprehensive loss

   $ (17,067

)

   $ (20,845

)

 

Changes in each component of accumulated other comprehensive loss consisted of the following:

 

   

Foreign

Currency

Translation

    

Defined

Benefit Plans

    

Accum. Other

Comp Loss

  
                         

Balance at January 1, 2022

   $ (11,440

)

   $ (11,554

)

   $ (22,994

)

Currency translation adjustments, net of tax

     982       0       982  

Net actuarial loss for the year, net of tax

     0       607       607  

Amortization for the year, net of tax

     0       560       560  

Balance at December 31, 2022

   $ (10,458

)

   $ (10,387

)

   $ (20,845

)

Currency translation adjustments, net of tax

     2,589       0       2,589  

Net actuarial loss for the year, net of tax

     0       663       663  

Amortization for the year, net of tax

     0       526       526  

Balance at December 31, 2023

   $ (7,869

)

   $ (9,198

)

   $ (17,067

)