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Note F - Long-term Debt | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Long-Term Debt [Text Block] | Note F — Long-Term Debt Credit Facility As of September 30, 2023 and December 31, 2022, we had no outstanding borrowings under the Credit Facility (as defined below). As of September 30, 2023 and December 31, 2022, we had letters of credit outstanding in the amount of $0.8 million. No amounts were drawn against these letters of credit at September 30, 2023. These letters of credit exist to support insurance programs relating to worker’s compensation, automobile, and general liability. As of September 30, 2023, we had the ability to borrow $24.2 million under the New Credit Facility. On December 21, 2021, the Company entered into a three-year, $25.0 million asset-based revolving credit facility (the "Credit Facility") with Texas Capital Bank. The Company’s obligations under the Credit Facility are guaranteed on a joint and several basis by the Company’s material subsidiaries (the “Guarantors”). The Credit Facility is secured by substantially all of the assets of the Company and the Guarantors pursuant to a Pledge and Security Agreement, dated as of December 21, 2021, among the Company, Texas Capital Bank and the other grantors party thereto (the "Security Agreement"). The Credit Facility is subject to certain covenants restricting the Company's and its subsidiaries' ability to create, incur, assume or become liable for indebtedness; make certain investments; pay dividends or repurchase the Company's stock; create, incur or assume liens; consummate mergers or acquisitions; liquidate, dissolve, suspend or cease operations; or modify accounting or tax reporting methods (other than as required by U.S. GAAP). The Company was in compliance with all of the requirements as of September 30, 2023. The loans under the Credit Facility accrue interest at a variable rate equal to the Bloomberg Short-Term Bank Yield Index Rate plus a margin of 2.25% per annum. The interest rate was 7.62% as of September 30, 2023. The outstanding amounts advanced under the Credit Facility are due and payable in full on December 21, 2024. Unused commitment balances accrue fees at a rate of 0.25%. Cash payments for interest were $34 thousand and $52 thousand for the three months ended September 30, 2023 and 2022, respectively. Cash payments for interest were $198 thousand and $137 thousand for the nine months ended September 30, 2023 and 2022, respectively.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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