XML 35 R23.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Note 2 - Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Notes Tables |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] |
BASIC |  | 2015 |  |  | 2014 |  |  | 2013 |
Net income |  | $ | 6,402,405 |  |  | $ | 7,706,921 |  |  | $ | 7,265,717 |
Weighted average common shares outstanding |  |  | 10,077,506 |  |  |  | 10,203,063 |  |  |  | 10,176,492 |
Earnings per share – basic |  | $ | 0.64 |  |  | $ | 0.76 |  |  | $ | 0.71 |
DILUTED |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 6,402,405 |  |  | $ | 7,706,921 |  |  | $ | 7,265,717 |
Weighted average common shares outstanding |  |  | 10,077,506 |  |  |  | 10,203,063 |  |  |  | 10,176,492 |
Effect of restricted stock awards and assumed exercise of stock options |  |  | 25,254 |  |  |  | 38,058 |  |  |  | 39,946 |
Weighted average common shares outstanding, assuming dilution |  |  | 10,102,760 |  |  |  | 10,241,121 |  |  |  | 10,216,438 |
Earnings per share - diluted |  | $ | 0.63 |  |  | $ | 0.75 |  |  | $ | 0.71 |
Outstanding options and restricted stock awards excluded as anti-dilutive |  |  | 60,433 |  |  |  | - |  |  |  | - |
Schedule of Goodwill [Table Text Block] |
|  | Leather Factory |  |  | Tandy Leather |  |  | Total |
Balance, January 1, 2014 |  | $ | 598,579 |  |  | $ | 383,406 |  |  | $ | 981,985 |
Acquisitions and adjustments |  |  | - |  |  |  | - |  |  |  | - |
Foreign exchange gain/loss |  |  | (10,199 | ) |  |  | - |  |  |  | (10,199 | )
Impairments |  |  | - |  |  |  | - |  |  |  | - |
Balance, December 31, 2014 |  | $ | 588,380 |  |  | $ | 383,406 |  |  | $ | 971,786 |
Acquisitions and adjustments |  |  | - |  |  |  | - |  |  |  | - |
Foreign exchange gain/loss |  |  | (18,430 | ) |  |  | - |  |  |  | (18,430 | )
Impairments |  |  | - |  |  |  | - |  |  |  | - |
Balance, December 31, 2015 |  | $ | 569,950 |  |  | $ | 383,406 |  |  | $ | 953,356 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] |
|  | As of December 31, 20 15 |
|  | Gross |  |  | Accumulated Amortization |  |  | Net |
Trademarks, Copyrights |  | $ | 554,369 |  |  | $ | 544,504 |  |  | $ | 9,865 |
Non-Compete Agreements |  |  | 174,665 |  |  |  | 157,248 |  |  |  | 17,417 |
|  | $ | 729,034 |  |  | $ | 701,752 |  |  | $ | 27,282 |
|  | As of December 31, 20 14 |
|  | Gross |  |  | Accumulated Amortization |  |  | Net |
Trademarks, Copyrights |  | $ | 544,369 |  |  | $ | 518,426 |  |  | $ | 25,943 |
Non-Compete Agreements |  |  | 178,882 |  |  |  | 146,799 |  |  |  | 32,083 |
|  | $ | 723,251 |  |  | $ | 665,225 |  |  | $ | 58,026 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] |
|  | Leather Factory |  |  | Tandy Leather |  |  | Total |
2016 |  |  | 108 |  |  |  | 6,335 |  |  |  | 6,443 |
2017 |  |  | 90 |  |  |  | 1,667 |  |  |  | 1,757 |
2018 |  |  | - |  |  |  | 1,417 |  |  |  | 1,417 |
2019 |  |  | - |  |  |  | 666 |  |  |  | 666 |
2020 |  |  | - |  |  |  | 666 |  |  |  | 666 |
Thereafter |  |  | - |  |  |  | 6,333 |  |  |  | 6,333 |

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration