Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Mar. 04, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001061069 | |
Entity Registrant Name | AVALON HOLDINGS CORPORATION | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-K | |
Document Annual Report | true | |
Document Period End Date | Dec. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 1-14105 | |
Entity Incorporation, State or Country Code | OH | |
Entity Tax Identification Number | 34-1863889 | |
Entity Address, Address Line One | One American Way | |
Entity Address, City or Town | Warren | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 44484-5555 | |
City Area Code | 330 | |
Local Phone Number | 856-8800 | |
Title of 12(b) Security | Class A Common Stock, $.01 par value | |
Trading Symbol | AWX | |
Security Exchange Name | NYSE | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Public Float | $ 11,900,000 | |
Auditor Name | GRANT THORNTON LLP | |
Auditor Location | Cleveland, Ohio | |
Auditor Firm ID | 248 | |
Common Class B [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 611,784 | |
Common Class A [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 3,287,647 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and cash equivalents | $ 3,254 | $ 4,210 |
Accounts receivable, less allowance for credit losses of $265 at December 31, 2021 and 2020 | 9,933 | 8,744 |
Unbilled membership dues receivable | 578 | 585 |
Inventories | 1,105 | 910 |
Prepaid expenses | 996 | 730 |
Other current assets | 105 | 80 |
Total current assets | 15,971 | 15,259 |
Property and equipment, net | 53,338 | 51,299 |
Leased property under finace leases, net | 5,390 | 5,735 |
Operating lease right-of-use assets | 1,598 | 1,728 |
Restricted cash | 1,696 | 3,885 |
Noncurrent deferred tax asset | 8 | 8 |
Other assets, net | 36 | 36 |
Total assets | 78,037 | 77,950 |
Liabilities and Equity | ||
Current portion of long-term debt | 1,126 | 1,594 |
Current portion of obligations under finance leases | 167 | 333 |
Current portion of obligations under operating leases | 534 | 529 |
Accounts payable | 10,164 | 9,097 |
Accrued payroll and other compensation | 797 | 809 |
Accrued income taxes | 67 | 43 |
Other accrued taxes | 541 | 461 |
Deferred membership dues revenue | 3,363 | 3,196 |
Other liabilities and accrued expenses | 1,265 | 1,121 |
Total current liabilities | 18,024 | 17,183 |
Long-term debt, net of current portion | 19,376 | 21,941 |
Obligations under finance leases, net of current portion | 496 | 560 |
Obligations under operating leases, net of current portion | 1,064 | 1,199 |
Asset retirement obligation | 100 | 100 |
Equity: | ||
Paid-in capital | 59,201 | 59,196 |
Accumulated deficit | (20,171) | (22,142) |
Total Avalon Holdings Corporation Shareholders' Equity | 39,069 | 37,093 |
Non-controlling interest in subsidiaries | (92) | (126) |
Total equity | 38,977 | 36,967 |
Total liabilities and equity | 78,037 | 77,950 |
Common Class A [Member] | ||
Equity: | ||
Common stock | 33 | 33 |
Common Class B [Member] | ||
Equity: | ||
Common stock | $ 6 | $ 6 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) $ in Thousands | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares |
Accounts receivable, allowance for doubtful accounts | $ | $ 265 | $ 265 |
Common Class A [Member] | ||
Common stock, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 10,500,000 | 10,500,000 |
Common stock, shares issued (in shares) | 3,287,647 | 3,287,647 |
Common stock, shares outstanding (in shares) | 3,287,647 | 3,287,647 |
Common stock, votes per share | 1 | 1 |
Common Class B [Member] | ||
Common stock, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Common stock, shares issued (in shares) | 611,784 | 611,784 |
Common stock, shares outstanding (in shares) | 611,784 | 611,784 |
Common stock, votes per share | 10 | 10 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Net operating revenues: | ||
Operating revenues | $ 70,383 | $ 58,720 |
Costs and expenses: | ||
Depreciation and amortization expense | 3,112 | 2,909 |
Selling, general and administrative expenses | 9,878 | 8,672 |
Operating income | 561 | 124 |
Other income (expense): | ||
Interest expense | (1,158) | (1,210) |
Gain on debt extinguishment | 1,964 | 801 |
Other income, net | 369 | 337 |
Income before income taxes | 1,736 | 52 |
Provision for income taxes | 89 | 98 |
Net income (loss) | 1,647 | (46) |
Less net loss attributable to non-controlling interest in subsidiaries | (324) | (60) |
Net income attributable to Avalon Holdings Corporation common shareholders | $ 1,971 | $ 14 |
Basic net income per share (in dollars per share) | $ 0.51 | $ 0 |
Diluted net income per share (in dollars per share) | $ 0.50 | $ 0 |
Weighted average shares outstanding - basic (in shares) | 3,899,431 | 3,875,693 |
Weighted average shares outstanding - diluted (in shares) | 3,933,071 | 3,877,853 |
Waste Management Services [Member] | ||
Net operating revenues: | ||
Operating revenues | $ 42,710 | $ 40,371 |
Costs and expenses: | ||
Operating costs | 34,259 | 31,658 |
Golf and Related Operations [Member] | ||
Net operating revenues: | ||
Operating revenues | 27,673 | 18,349 |
Costs and expenses: | ||
Operating costs | 17,825 | 12,547 |
Golf and Related Operations [Member] | Food and Beverage [Member] | ||
Net operating revenues: | ||
Operating revenues | 11,045 | 6,416 |
Costs and expenses: | ||
Operating costs | 4,748 | 2,810 |
Golf and Related Operations [Member] | Product and Service, Other [Member] | ||
Net operating revenues: | ||
Operating revenues | $ 16,628 | $ 11,933 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 1,647,000 | $ (46,000) |
Reconciliation of net income (loss) to cash provided by operating activities: | ||
Depreciation and amortization expense | 3,112,000 | 2,909,000 |
Amortization of debt issuance costs | 42,000 | 42,000 |
Compensation costs - stock options | 5,000 | 6,000 |
Provision for doubtful accounts | 36,000 | 40,000 |
Gain from disposal of equipment | (10,000) | (38,000) |
Gain on debt extinguishment | (1,964,000) | (801,000) |
Change in operating assets and liabilities: | ||
Accounts receivable | (1,225,000) | 3,225,000 |
Unbilled membership dues receivable | 7,000 | 17,000 |
Inventories | (195,000) | (97,000) |
Prepaid expenses | (266,000) | (5,000) |
Other assets, net | (25,000) | (62,000) |
Accounts payable | 796,000 | (2,769,000) |
Accrued payroll and other compensation | (12,000) | (152,000) |
Accrued income taxes | 24,000 | (50,000) |
Other accrued taxes | 80,000 | 27,000 |
Deferred membership dues revenue | 167,000 | 43,000 |
Other liabilities and accrued expenses | 144,000 | 282,000 |
Net cash provided by operating activities | 2,363,000 | 2,571,000 |
Cash flows from investing activities: | ||
Capital expenditures | (4,424,000) | (4,549,000) |
Proceeds from disposal of equipment | 3,000 | 38,000 |
Net cash used in investing activities | (4,421,000) | (4,511,000) |
Cash flows from financing activities: | ||
Proceeds under Paycheck Protection Program loans | 0 | 2,765,000 |
Principal payments on term loan facilities | (1,111,000) | (1,056,000) |
Principal payments on finance lease obligations | (334,000) | (348,000) |
Proceeds from exercise of employee stock options | 0 | 43,000 |
Net cash (used in) provided by financing activities | (1,087,000) | 1,404,000 |
Decrease in cash, cash equivalents and restricted cash | (3,145,000) | (536,000) |
Cash, cash equivalents and restricted cash at beginning of year | 8,095,000 | 8,631,000 |
Cash, cash equivalents and restricted cash at end of year | 4,950,000 | 8,095,000 |
Significant non-cash operating and investing activities: | ||
Capital expenditures included in accounts payable | 271,000 | 147,000 |
Significant non-cash investing and financing activities: | ||
Operating lease right-of-use assets in exchange for lease obligations | 498,000 | 948,000 |
Finance lease obligations incurred | 104,000 | 391,000 |
Cash paid during the year for interest | 1,130,000 | 1,156,000 |
Cash paid during the year for income taxes | 65,000 | 148,000 |
Paycheck Protection Program CARES Act [Member] | ||
Significant non-cash operating and financing activities: | ||
Interest forgiven from Paycheck Protection Program Loans | 17,000 | 4,000 |
Subsidiaries [Member] | ||
Cash flows from financing activities: | ||
Proceeds from subsidiary private placement offering | $ 358,000 | $ 0 |
Consolidated Statement of Share
Consolidated Statement of Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member]Common Class A [Member] | Common Stock [Member]Common Class B [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 3,263,647 | 611,784 | |||||
Balance at Dec. 31, 2019 | $ 33 | $ 6 | $ 59,147 | $ (22,156) | $ 37,030 | $ (66) | $ 36,964 |
Stock options - compensation costs | 6 | 6 | $ 6 | ||||
Exercise of employee stock options (in shares) | 24,000 | 24,000 | |||||
Exercise of employee stock options | 43 | 43 | $ 43 | ||||
Net income (loss) | 14 | 14 | (60) | (46) | |||
Balance (in shares) at Dec. 31, 2020 | 3,287,647 | 611,784 | |||||
Balance at Dec. 31, 2020 | $ 33 | $ 6 | 59,196 | (22,142) | 37,093 | (126) | 36,967 |
Stock options - compensation costs | 5 | 5 | 5 | ||||
Net income (loss) | 1,971 | 1,971 | (324) | 1,647 | |||
Investment in subsidiary from accredited investors | 358 | 358 | |||||
Balance (in shares) at Dec. 31, 2021 | 3,287,647 | 611,784 | |||||
Balance at Dec. 31, 2021 | $ 33 | $ 6 | $ 59,201 | $ (20,171) | $ 39,069 | $ (92) | $ 38,977 |
Note 1 - Description of the Bus
Note 1 - Description of the Business | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Note 1. Avalon Holdings Corporation (“Avalon” or the “Company”) was formed on April 30, 1998 June 17, 1998, Avalon provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets, captive landfill management services and salt water injection well operations. Avalon also owns and operates a hotel and its associated resort amenities, four |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 2. The significant accounting policies of Avalon, which are summarized below, are consistent with accounting principles generally accepted in the United States and reflect practices appropriate to the businesses in which they operate. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The coronavirus/COVID- 19 19" December 31, 2020. 19 December 31, 2021. 19, may Principles of Consolidation The consolidated financial statements include the accounts of Avalon, its wholly owned subsidiaries and those companies in which Avalon has managerial control. All significant intercompany accounts and transactions have been eliminated in consolidation. Subsequent Events Avalon evaluated subsequent events for potential recognition and disclosure through the date the financial statements were issued. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three may, not not 5 Restricted Cash Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded in restricted cash on the Consolidated Balance Sheets. Restricted cash of $1.7 million and $3.9 million at December 31, 2021 2020, 5 10 Inventories Inventories are stated at the lower of cost or net realizable value. Cost of inventories is determined by the average cost method. If necessary, a provision for potentially obsolete or slow-moving inventory is made based on management’s analysis of inventory levels and future sales forecasts. Financial Instruments The Company follows the guidance included in the Financial Accounting Standard Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures December 31, 2021 2020 The fair value of the Company’s term loan approximates carrying value at December 31, 2021 2020, Property and Equipment Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful life of the asset which varies from 10 to 30 years for land improvements; 5 to 50 years in the case of buildings and improvements; and from 3 to 10 years for machinery and equipment, vehicles and office furniture and equipment (See Note 7 Major additions and improvements are charged to the property and equipment accounts while replacements, maintenance and repairs, which do not Debt Issuance Costs Debt issuance costs are capitalized and amortized over the life of the related debt. Amortization of deferred financing costs is included in interest expense in the Consolidated Statements of Operations. Debt issuance costs incurred related to the loan and security agreement is presented in the Consolidated Balance Sheets as a direct deduction from the carrying amount of the debt. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and to operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded against net deferred tax assets when management believes it is more likely than not not The provisions of ASC 740, Income Taxes 740” 740 not Revenue Recognition The Company recognizes revenue in accordance with FASB ASC 606, Revenue from Contracts with Customers 606” 606, 6 Accounts Receivable Receivables, net, include amounts billed and currently due from customers. The majority of Avalon’s accounts receivable is due from industrial and commercial customers. Credit is extended based on an evaluation of a customer’s financial condition and, generally, collateral is not not 6 Leases Avalon applies FASB Accounting Standards Update (“ASU”) 2016 02, Leases 12 8 Non-controlling Interest Under FASB ASC 810 10, Consolidations Overall 810 10” In accordance ASC 810 10 , 810 10 17 Share-Based Compensation Avalon recognizes share-based compensation expense related to stock options issued to employees and directors. Avalon estimates the fair value of the stock options granted using a Monte Carlo simulation. The Monte Carlo Simulation was selected to determine the fair value because it incorporates six 1 2 3 4 5 6 Avalon amortizes the grant date fair value of the stock options over the expected term which approximates the requisite service period. If accelerated vesting occurs based on the market performance of Avalon’s common stock, the compensation costs related to the vested stock options that have not Asset Retirement Obligation Avalon recorded an estimated asset retirement obligation of $0.1 million at December 31, 2021 2020, two third Asset Impairments Avalon reviews the carrying value of its long-lived assets whenever events or changes in circumstances indicate that its carrying amount may not not Avalon reviewed the carrying value of its long-lived assets in accordance with FASB ASC 360 10 35, Property, Plant and Equipment Overall Subsequent Measurement not 2021 2020 not Environmental Liabilities When Avalon concludes that it is probable that a liability has been incurred with respect to a site, a provision is made in Avalon’s financial statements for Avalon’s best estimate of the liability based on management’s judgment and experience, information available from regulatory agencies, and the number, financial resources and relative degree of responsibility of other potentially responsible parties who are jointly and severally liable for remediation of that site, as well as, the typical allocation of costs among such parties. If a range of possible outcomes is estimated and no not no not Basic and Diluted Net Income per Share Basic net income per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing the net income by the weighted average number of common shares outstanding. Diluted net income per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing net income by the weighted average number of common shares outstanding plus any weighted common equivalent shares determined to be outstanding during the period using the treasury method. The weighted common equivalent shares included in the calculation are related to stock options granted by Avalon where the weighted average market price of Avalon’s common stock for the period presented is greater than the option exercise price of the stock option. For periods in which Avalon is in a net loss position, the diluted per share amount reported is equal to the basic per share amount because such dilution would be considered anti-dilutive (See Note 9 |
Note 3 - Covid-19 Coronavirus P
Note 3 - Covid-19 Coronavirus Pandemic | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Covid-19 Coronavirus Pandemic [Text Block] | Note 3. 19 In December 2019, 19, March 11, 2020, 19 During the year ended December 31, 2020, 19 March 2020, 19 December 31, 2021. Although the various government mandates impacting our business operations have currently been lifted, we may 19 19 may |
Note 4 - Recent Accounting Pron
Note 4 - Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 4. In June 2016, 2016 13, Measurement of Credit Losses on Financial Instruments 2016 13” 2016 13, December 15, 2019, January 1, 2020. 2016 13 January 1, 2020. 2016 13 not 6 In March 2020, 2020 04, 848, Reference Rate Reform 2020 04” . 2020 04 2020 04 may not |
Note 5 - Cash, Cash Equivalents
Note 5 - Cash, Cash Equivalents and Restricted Cash | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 5. The Company considers all highly liquid investments with a maturity of three may, not not Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded in restricted cash on the Consolidated Balance Sheets. Restricted cash consists of loan proceeds deposited into a project fund account to fund costs associated with the renovation and expansion of The Grand Resort and Avalon Field Club at New Castle in accordance with the provisions of the loan and security agreement (See Note 10 The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows. Cash, cash equivalents and restricted cash consist of the following at December 31, 2021 2020 2021 2020 Cash and cash equivalents $ 3,254 $ 4,210 Restricted cash 1,696 3,885 Total cash, cash equivalents and restricted cash $ 4,950 $ 8,095 |
Note 6 - Revenues
Note 6 - Revenues | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 6. Revenue Recognition The Company identifies a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Revenue is recognized when obligations under the terms of the contract with our customer are satisfied; generally this occurs with the transfer of control of the good or service to the customer. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Sales and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. The Company does not not Waste Management Services Avalon’s waste management services provide hazardous and nonhazardous waste brokerage and management services, captive landfill management services and salt water injection well operations. Waste management services are provided to industrial, commercial, municipal and governmental customers primarily in selected northeastern and midwestern United States markets. Avalon’s waste brokerage and management business assists customers with managing and disposing of wastes at approved treatment and disposal sites based upon a customer’s needs. Avalon provides a service to its customers whereby Avalon, arranges for, and accepts responsibility for the removal, transportation and disposal of waste on behalf of the customer. Avalon’s landfill management business provides technical and operational services to customers owning captive disposal facilities. A captive disposal facility only disposes of waste generated by the owner of such facility. The Company provides turnkey services, including daily operations, facilities management and management reporting for its customers. Currently, Avalon manages one Avalon is a minority owner with managerial control over two 17 December 31, 2021 2020. For the years ended December 31, 2021 2020, December 31, 2021, one December 31, 2020, no one 10% For our waste management services contracts, the customer contracts with us to provide a series of distinct waste management services over time which integrates a set of tasks (i.e. removal, transportation and disposal of waste) into a single project. Avalon provides substantially the same service over time and the same method is used to measure the Company’s progress toward complete satisfaction of the performance obligation to transfer each distinct service in the series to the customer. The series of distinct waste management services, which are the same over time, meets the series provision criteria, and as such, the Company treats that series as a single performance obligation. The Company allocates the transaction price to the single performance obligation and recognizes revenue by applying a single measure of progress to that performance obligation. Avalon transfers control of the service over time and, therefore, satisfies the performance obligation and recognizes the revenue over time as the customer simultaneously receives and consumes the benefits provided by Avalon’s performance as we perform. In addition, as the promise to provide services qualifies as a series accounted for as a single performance obligation, the Company applied the practical expedient guidance that allows an entity that is recognizing revenue over time by using an output method to recognize revenue equal to the amount that the entity has the right to invoice if the invoiced amount corresponds directly to the value transferred to the customer. The Company applied the standard's practical expedient that permits the omission of disclosures relating to unsatisfied performance obligations as most of the Company’s waste management service contracts (i) have an original expected length of one Avalon evaluated whether we are the principal (i.e. report revenues on a gross basis) or agent (i.e. report revenues on a net basis). Avalon reports waste management services on a gross basis, that is, amounts billed to our customers are recorded as revenues, and amounts paid to vendors for providing those services are recorded as operating costs. As principal, Avalon is primarily responsible for fulfilling the promise to provide waste management services for the customer. Avalon accepts credit risk in the event of nonpayment by the customer and is obligated to pay vendors who provide the service regardless of whether the customer pays the Company. Avalon does have a level of discretion in establishing the pricing for its service. Our payment terms vary by the type and location of our customer and the service offered. Avalon does not not The Company assesses each contract amendment individually. Typically, amendments made to our contracts do not not Consideration promised in our waste management contracts do not no Golf and Related Operations Avalon’s golf and related operations include the operation and management of four first three 2021 2020. For the years ended December 31, 2021 2020, December 31, 2021 2020, no one 10% For Avalon’s golf and related operations, the Avalon Golf and Country Club offers membership packages for use of the country club facilities and its related amenities. Membership agreements are a one not Membership for the Avalon Golf and Country Club does not not no not Under the terms of the contract, Avalon will provide unlimited use and access to the country club facilities. Avalon’s performance obligation in the contract is the “stand ready obligation” to provide access to these facilities for the member for the entire membership term. Avalon providing the “stand ready obligation” for use of the facilities to the member over the entire term of the membership agreement represents a single performance obligation of which Avalon expects the member to receive and consume the benefits of its obligation throughout the membership term, and as such, the Company recognizes membership dues on a straight line basis over the term of the contract. The Company applied the standard's practical expedient that permits the omission of disclosures relating to unsatisfied performance obligations for contracts with an original expected length of one one For our hotel operations, Avalon’s performance obligation is to provide lodging facilities. The separate components of providing these services (hotel room, toiletry items, housekeeping, and amenities) are not For food, beverage, and merchandise sales, greens fees and associated cart rental, fitness activities, salon and spa services and other ancillary services, the transaction price is the set price charged by the Company for those goods or services. Upon purchase of the good or service, the Company transfers control of the good or service to the customer and the customer immediately consumes the benefits of the Company’s performance and, as such, we recognize revenue at the point of sale. Amounts paid in advance, such as deposits on overnight lodging or for banquet or conferences facilities, are recorded as a liability until the goods or services are provided to the customer (see Contract Liabilities below). The following table presents our net operating revenues disaggregated by revenue source for the years ended December 31, 2021 2020 2021 2020 Waste management and brokerage services $ 40,266 $ 38,049 Captive landfill management operations 2,444 2,322 Total waste management services revenues 42,710 40,371 Food, beverage and merchandise sales 11,045 6,416 Membership dues revenue 6,697 6,068 Room rental revenue 4,450 2,223 Greens fees and cart rental revenue 2,723 2,270 Salon and spa services 1,059 358 Fitness and tennis lesson revenue 448 336 Other revenue 1,251 678 Total golf and related operations revenue 27,673 18,349 Total net operating revenues $ 70,383 $ 58,720 Avalon does not not Receivables, Net Receivables, net, include amounts billed and currently due from customers. The amounts due are stated at their net realizable value. At December 31, 2021 2020, December 31, 2021, one December 31, 2020, no one 10% December 31, 2021 2020, No one 10% December 31, 2021 2020. The Company maintains an allowance for credit losses to provide for the estimated amount of receivables that will not December 31, 2021 2020. On January 1, 2020, 2016 13. 2016 13 not not January 1, 2020. The following table presents changes in our allowance for credit losses during the years ended at December 31, 2021 2020 Balance at Beginning of Period Provision for Credit Losses Write-offs less Recoveries Balance at End of Period Allowance for credit losses Year ended December 31, 2021 $ 265 $ 36 $ (36 ) $ 265 Year ended December 31, 2020 $ 275 $ 40 $ (50 ) $ 265 Contract Assets Contract assets include unbilled membership dues receivables related to the Avalon Golf and Country Club for the customers membership commitment which are billed on a monthly basis over the course of the annual agreement. Such amounts are stated at their net realizable value. Contract assets related to unbilled membership dues are classified as current as revenue related to such agreements is recognized within the annual membership period. Unbilled membership receivables in our Consolidated Balance Sheets were approximately $0.6 million at December 31, 2021 2020. The following table presents changes in our contract assets during the years ended December 31, 2021 2020 Balance at Beginning of Period Unbilled Membership Dues Billings Balance at End of Period Contract Assets: Unbilled membership dues receivable Year ended December 31, 2021 $ 585 $ 1,997 $ (2,004 ) $ 578 Year ended December 31, 2020 $ 602 $ 2,143 $ (2,160 ) $ 585 Contract Liabilities Contract liabilities include unrecognized or deferred revenues relating to membership dues and customer advance deposits. We record deferred revenue when cash payments are received in advance of satisfying our performance obligation. We classify deferred membership dues revenue as current based on the timing of when we expect to recognize revenue for the membership commitment based on the Company satisfying the stand ready performance obligation throughout the annual membership period. The unrecognized or deferred revenues related to membership dues in our Consolidated Balance Sheets were approximately $3.4 million at December 31, 2021 December 31, 2020. 12 December 31, 2021 December 31, 2020. The following table presents changes in our contract liabilities during the years ended December 31, 2021 2020 Balance at Beginning of Period Billings Revenue Recognized Balance at End of Period Contract Liabilities: Deferred membership dues revenue Year ended December 31, 2021 $ 3,196 $ 6,864 $ (6,697 ) $ 3,363 Year ended December 31, 2020 $ 3,153 $ 6,111 $ (6,068 ) $ 3,196 Customer advance deposits Year ended December 31, 2021 $ 674 $ 1,953 $ (1,832 ) $ 795 Year ended December 31, 2020 $ 553 $ 917 $ (796 ) $ 674 |
Note 7 - Property and Equipment
Note 7 - Property and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 7. Property and equipment at December 31, 2021 2020 2021 2020 Land and land improvements $ 15,588 $ 15,150 Buildings and improvements 48,603 47,026 Machinery and equipment 7,122 5,469 Office furniture and fixtures 8,773 8,000 Vehicles 791 677 Construction in progress 1,448 1,086 82,325 77,408 Less accumulated depreciation and amortization (28,987 ) (26,109 ) Property and equipment, net $ 53,338 $ 51,299 At December 31, 2021, not |
Note 8 - Leases
Note 8 - Leases | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating and Financing Leases [Text Block] | Note 8. Operating Leases Avalon leases golf carts, machinery and equipment for the landfill operations, furniture and fixtures for The Grand Resort and office copiers under operating leases. Our operating leases have remaining lease terms ranging from less than 1 year to 4.0 years. The weighted average remaining lease term on operating leases was approximately 3.5 years at December 31, 2021. During 2021, 2020, Leased property and associated obligations under operating leases at December 31, 2021 2020 2021 2020 Operating lease right-of-use assets $ 1,598 $ 1,728 Current portion of obligations under operating leases $ 534 $ 529 Long-term portion of obligations under operating leases 1,064 1,199 Total obligations under operating leases $ 1,598 $ 1,728 The weighted average discount rate on operating leases was 4.6% at December 31, 2021 December 31, 2020. Finance Leases In November 2003, ten four ten $150,000 December 31, 2021 In addition, the golf and related operations also entered into lease agreements for vehicles, golf course maintenance and restaurant equipment and the captive landfill operations entered into lease agreements for equipment which were determined to be finance leases. At December 31, 2021, December 31, 2021. Leased property and associated obligations under finance leases at December 31, 2021 2020 2021 2020 Leased property under finance leases $ 11,978 $ 12,112 Less accumulated amortization (6,588 ) (6,377 ) Leased property under finace leases, net $ 5,390 $ 5,735 Current portion of obligations under finance leases $ 167 $ 333 Long-term portion of obligations under finance leases 496 560 Total obligations under finance leases $ 663 $ 893 The weighted average discount rate on finance leases was 5.1% at December 31, 2021 December 31, 2020. For the years ended December 31, 2021 2020, 2021 2020 Operating lease cost: Rental expense $ 758 $ 643 Finance lease cost: Depreciation expense $ 545 $ 497 Interest expense 41 40 Total finance lease cost $ 586 $ 537 Avalon Holdings Corporation and Subsidiaries For the twelve December 31, Finance Operating Total 2022 $ 198 $ 597 $ 795 2023 139 491 630 2024 129 315 444 2025 64 253 317 2026 39 84 123 Thereafter 390 - 390 Total lease payments 959 1,740 2,699 Less imputed interest 296 142 438 Total 663 1,598 2,261 Less current portion of obligations under leases 167 534 701 Long-term portion of obligations under leases $ 496 $ 1,064 $ 1,560 |
Note 9 - Basic and Diluted Net
Note 9 - Basic and Diluted Net Income Per Share | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 9. Basic net income per share attributable to Avalon Holdings Corporation common shareholders for the years ended December 31, 2021 2020 2021 2020. Diluted net income per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing net income by the weighted average number of common shares outstanding plus any weighted common equivalent shares determined to be outstanding during the period using the treasury method. The weighted common equivalent shares included in the calculation are related to stock options granted by Avalon where the weighted average market price of Avalon’s common stock for the period presented is greater than the option exercise price of the stock option. For the years ended December 31, 2021 2020, The income per share calculations for the years ended December 31, 2021 2020 2021 2020 Net income attributable to Avalon Holdings Corporation common shareholders $ 1,971 $ 14 Shares used in computing basic income per share 3,899 3,876 Potentially dilutive shares from stock options 34 2 Shares used in computing diluted income per share 3,933 3,878 Income per share attributable to Avalon Holdings Corporation common shareholders Basic net income per share $ 0.51 $ 0.00 Diluted net income per share $ 0.50 $ 0.00 |
Note 10 - Term Loans and Line o
Note 10 - Term Loans and Line of Credit Agreements | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 10. New Term Loan Agreement On December 20, 2019, December 31, 2021 2020, The then existing term loan and commercial mortgage agreements were terminated in conjunction with the New Term Loan Agreement. The New Term Loan Agreement is payable in 119 equal monthly installments of principal and interest , fifteen January 20, 2020 one December 20, 2029. fifth 5.00% five two 2 3.60%, no 7.35% Avalon has the right to prepay the amount outstanding under the New Term Loan Agreement, in whole or in part, at any time upon payment of the principal amount of the loan to be prepaid plus accrued unpaid interest thereon to the prepayment date, plus an applicable prepayment penalty. The prepayment penalty, expressed as a percentage of the principal of the loan being prepaid, is five first five four sixth seventh three eighth ninth two tenth Borrowings under the New Term Loan Agreement are secured by certain real property and related business assets as defined in the agreement. The New Term Loan Agreement contains a Fixed Charge Coverage Ratio requirement of at least 1.20 tested on an annual basis on December 31 December 31, 2021 2020. The Company capitalized approximately $0.4 million of debt issuance costs in connection with the New Term Loan Agreement. The Company is amortizing these costs over the life of the New Term Loan Agreement. In accordance with ASU 2015 03, Simplifying the Presentation of Debt Issuance Costs Line of Credit Agreement On May 31, 2018, August 17, 2021, July 31, 2023. No amounts were drawn under the Line of Credit Agreement at December 31, 2021 2020. .25%. December 31, 2021, Borrowings under the Line of Credit Agreement are secured by certain business assets of the Company including accounts receivable, inventory and equipment. The Line of Credit Agreement contains a Fixed Charge Coverage Ratio requirement of at least 1.20 tested on an annual basis on December 31 December 31, 2021 2020. Paycheck Protection Program Loan The Coronavirus Aid, Relief, and Economic Security Act, or (“CARES”) Act, was signed into law on March 27, 2020, $2.0 19 100% $10 2.5 not Under the Program, the borrower is eligible for loan forgiveness up to the amount the borrower spends on certain eligible costs during, at the borrowers election, either an 8 24 25% not 1% 18 54 10 In the second 2020, 24 The Company accounted for the loans in accordance with ASC 470 Debt 470, 405 20, Liabilities: Extinguishments of Liabilities 2020, 2021, During the years ended December 31, 2021 2020, Obligations under the Company’s debt agreements at December 31, 2021 2020 2021 Gross Amount Debt Issuance Costs Net Amount Term Loan Agreement $ 20,833 $ (331 ) $ 20,502 Less current portion 1,168 (42 ) 1,126 Long-term debt $ 19,665 $ (289 ) $ 19,376 2020 Gross Amount Debt Issuance Costs Net Amount Term Loan Agreement $ 21,944 $ (373 ) $ 21,571 Paycheck Protection Program Loans 1,964 - 1,964 Total 23,908 (373 ) 23,535 Less current portion 1,636 (42 ) 1,594 Long-term debt $ 22,272 $ (331 ) $ 21,941 For the twelve December 31, 2022 $ 1,168 2023 1,227 2024 1,290 2025 1,356 2026 1,425 Thereafter 14,367 Total $ 20,833 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 11. Income before income taxes for each of the two December 31, 2021 2021 2020 Current: Federal $ (3 ) $ (2 ) State 92 100 Total current income taxes 89 98 Deferred: Federal - - State - - Total deferred income taxes - - Total provision for income taxes $ 89 $ 98 On March 27, 2020, 19 December 31, 2017, 100% January 1, 2021, 80% December 31, 2020. December 31, 2017, January 1, 2021, five not On December 27, 2020, 2021 19 December 31, 2025, December 31, 2021, not not The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31, 2021 2020 2021 2020 Deferred tax assets: Accounts receivable, allowance for doubtful accounts $ 66 $ 68 Reserves not deductible until paid 4 55 Net operating loss carryforwards Federal 2,168 2,170 State 883 816 Federal tax credit 877 733 Operating lease liabilities 402 416 Other 92 69 Gross deferred tax assets 4,492 4,327 Less valuation allowance (2,351 ) (2,269 ) Deferred tax assets net of valuation allowance $ 2,141 $ 2,058 Deferred tax liabilities: Property and equipment $ (1,731 ) $ (1,552 ) Operating lease right of use assets (402 ) (416 ) Other - (82 ) Gross deferred tax liabilities $ (2,133 ) $ (2,050 ) Net deferred tax asset $ 8 $ 8 The $2,133,000 of deferred tax liabilities will reverse in the same period and jurisdiction and is of the same character as the temporary differences giving rise to the $2,141,000 of deferred tax assets. Avalon has not not December 31, 2021, The provision for income taxes differs from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate to the income before income taxes as a result of the following differences (in thousands): 2021 2020 Income before income taxes $ 1,736 $ 52 Less net loss attributable to non-controlling interest in subsidiary (324 ) (60 ) Income before income taxes attributable to Avalon Holdings Corporation common shareholders 2,060 112 Federal statutory rate 21 % 21 % Computed Federal provision for income taxes 433 24 State income taxes, net of federal income tax benefits 71 79 Change in valuation allowance 82 226 Increase in available federal tax credit (144 ) (80 ) Other nondeductible expenses 38 16 Other nontaxable income (411 ) (168 ) Other, net 20 1 Total provision for income taxes $ 89 $ 98 Avalon is subject to income taxes in the U.S. federal and various states jurisdictions. With few exceptions, Avalon is no 2017. 2021 2020. Avalon made net income tax payments of approximately $65,000 and $148,000 in 2021 2020, December 31, 2021, 2018 2018 may 80% $10,306,000 80% 2018 2023 2037. December 31, 2021, 2040. not not |
Note 12 - Retirement Benefits
Note 12 - Retirement Benefits | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | Note 12. Avalon sponsors a defined contribution profit sharing plan that is a qualified tax deferred benefit plan under Section 401 five may not 2021 2020. |
Note 13 - Long-term Incentive P
Note 13 - Long-term Incentive Plan | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 13. On March 14, 2019, 2009 “2009 October 2019. 2009 422 The name of the plan was changed to the 2019 2009 2009 2009 not 2009 April 25, 2019, The purpose of the Avalon Holdings Corporation 2019 NQSO’s may not not ten not may, one may not no ten ten no five No one no not No may The stock options, vest ratably over a five ten three not The grant-date fair values of the stock option awards were estimated using the Monte Carlo Simulation. The Monte Carlo Simulation was selected to determine the fair value because it incorporates six 1 2 3 4 5 6 The grant date fair value of the underlying equity was determined to be equal to Avalon’s publicly traded stock price as of the grant dates times the sum of the Class A and Class B common shares outstanding. The expected term, or time until the option is exercised, is typically based on historical exercising behavior of previous option holders of a company’s stock. Due to the fact that the Company has had no 2018, five For stock option awards, the expected volatility was based on the observed historical volatility of Avalon common stock. There were no In March 2021, 2009 not ten In March 2020, 2009 not ten December 2020, 2009 At December 31, 2021, 2009 The following table is a summary of the stock option activity during 2021 2020: Weighted Weighted Number of Average Average Options Exercise Fair Value at Granted Price Grant Date Outstanding at January 1, 2020 688,000 $ 2.52 $ 1.00 Options granted - - - Options exercised (24,000 ) 1.83 0.43 Options expired (420,000 ) 2.48 1.02 Options cancelled or forfeited - - - Outstanding at December 31, 2020 244,000 2.66 1.03 Options granted - - - Options exercised - - - Options expired (190,000 ) 2.89 1.20 Options cancelled or forfeited - - - Outstanding at December 31, 2021 54,000 $ 1.83 $ 0.43 Options Vested 54,000 $ 1.83 $ 0.43 Exercisable at December 31, 2021 - $ - $ - The stock options vest and become exercisable based upon achieving two 1 Contract Vesting Term: The stock options vest ratably over a five 2 The Avalon common stock price traded on a public stock exchange (NYSE Amex) must reach the predetermined vesting price within three The table below represents the period and predetermined stock price needed for vesting. Begins Ends Predetermined Vesting Vesting Vesting Price Block 1 12 months after Grant Dates 48 months after Grant Dates $ 3.43 Block 2 24 months after Grant Dates 60 months after Grant Dates $ 4.69 Block 3 36 months after Grant Dates 72 months after Grant Dates $ 6.43 Block 4 48 months after Grant Dates 84 months after Grant Dates $ 8.81 Block 5 60 months after Grant Dates 96 months after Grant Dates $ 12.07 The total intrinsic value of the 24,000 option exercised during the year ended December 31, 2020 Compensation costs were approximately $5,000 for the year ended December 31, 2021 December 31, 2020 December 31, 2021, |
Note 14 - Shareholders' Equity
Note 14 - Shareholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 14. Equity Each share of Class A Common Stock is entitled to one vote and each share of Class B Common Stock is entitled to ten votes on all matters submitted to a vote of the shareholders. Except for the election of Avalon’s Board of Directors, the Class A Common Stock and the Class B Common Stock vote together as a single class on all matters presented for a vote to the shareholders. However, with regard to the election of directors, for as long as the outstanding Class B Common Stock has more than 50% 25% one ten not Each share of Class B Common Stock is convertible, at any time, at the option of the shareholder, into one share of Class A Common Stock. Shares of Class B Common Stock are also automatically converted into shares of Class A Common Stock on the transfer of such shares to any person other than Avalon, another holder of Class B Common Stock or a Permitted Transferee, as defined in Avalon’s Articles of Incorporation. The Class A Common Stock is not |
Note 15 - Legal Matters
Note 15 - Legal Matters | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | Note 15. In the ordinary course of conducting its business, Avalon becomes involved in lawsuits, administrative proceedings and governmental investigations, including those related to environmental matters. Some of these proceedings may may not 18 |
Note 16 - Business Segment Info
Note 16 - Business Segment Information | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 16. In determining the segment information, Avalon considered its operating and management structure and the types of information subject to regular review by its “chief operating decision maker.” Using the criteria of FASB ASC 280 Segment Reporting third Avalon’s primary business segment, the waste management services segment, provides hazardous and nonhazardous brokerage and management services to industrial, commercial, municipal and governmental customers, captive landfill management for an industrial customer and salt water injection well operations. Avalon’s golf and related operations segment consists of four Avalon does not not 2021, one 2020, 10% The accounting policies of the segments are consistent with those described for the consolidated financial statements in the summary of significant accounting policies (See Note 2 Business segment information including the reconciliation of segment income (loss) to consolidated income before income taxes is as follows (in thousands): Year Ended December 31, 2021 2020 Net operating revenues from: Waste management services: External customer revenues $ 42,710 $ 40,371 Intersegment revenues - - Total waste management services 42,710 40,371 Golf and related operations: External customer revenues 27,673 18,349 Intersegment revenues 47 41 Total golf and related operations 27,720 18,390 Segment operating revenues 70,430 58,761 Intersegment eliminations (47 ) (41 ) Total net operating revenues $ 70,383 $ 58,720 Income (loss) before income taxes: Waste management services $ 3,505 $ 4,588 Golf and related operations 2,775 (190 ) Segment income before taxes 6,280 4,398 Corporate interest expense (1,117 ) (1,170 ) Corporate gain on debt extinguishment 502 - Corporate other income, net 15 16 General corporate expenses (3,944 ) (3,192 ) Income before income taxes $ 1,736 $ 52 Depreciation and amortization expense: Waste management services $ 104 $ 89 Golf and related operations 2,838 2,671 Corporate 170 149 Total depreciation and amortization expense $ 3,112 $ 2,909 Interest expense: Waste management services $ 3 $ 6 Golf and related operations 38 34 Corporate 1,117 1,170 Total interest expense $ 1,158 $ 1,210 Gain on debt extinguishment: Waste management services $ - $ 553 Golf and related operations 1,462 248 Corporate 502 - Total gain on debt extinguishment $ 1,964 $ 801 Year Ended December 31, 2021 2020 Capital expenditures: Waste management services $ 165 $ 99 Golf and related operations 4,058 4,870 Corporate 576 118 Total capital expenditures $ 4,799 $ 5,087 December 31, 2021 2020 Total assets: Waste management services $ 34,203 $ 31,875 Golf and related operations 59,700 57,863 Corporate 55,027 59,425 Subtotal 148,930 149,163 Elimination of intersegment receivables (70,893 ) (71,213 ) Total assets $ 78,037 $ 77,950 In comparing total assets at December 31, 2021 December 31, 2020, |
Note 17 - Certain Relationships
Note 17 - Certain Relationships and Related Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 17. AWMS Holdings, LLC In August 2013, In 2014 2013, 2014 2013. As a result of a private placement offering, Avalon is not December 31, 2021 2020, 810 10 , 810 10 December 31, 2021 2020, Avalon Med Spa, LLC In March 2021, In 2021, August 2021. In accordance with ASC 810 10 , 810 10 December 31, 2021, |
Note 18 - Injection Wells Suspe
Note 18 - Injection Wells Suspension | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Suspended Injection Well Costs Disclosure [Text Block] | Note 18. As a result of a seismic event with a magnitude of 2.1 August 31, 2014, September 3, 2014 two two On September 5, 2014, #1 September 18, 2014. September 19, 2014, #2 not On October 2, 2014, #2 March 11, 2015, #2 On August 12, 2015, #2 Avalon appealed that decision to the Franklin County Court of Common Pleas (the “Court”), and on November 1, 2016 December 23, 2016, 26 not On February 21, 2017, #2 February 22, 2017, 10 th March 21, 2017. On September 14, 2017, 10 th July 31, 2018 On September 12, 2018, 10 th November 21, 2018, not 10 th February 21, 2017 #2 On April 5, 2019, August 13, 2019. April 2020, Concurrently with the filing of the appeal with the Franklin County Court of Common Pleas, the Company filed a writ of mandamus in the 10 th August 30, 2019 #2 October 6, 2020 In addition, on August 26, 2016, 11 th 19 163. On March 18, 2019, 11 th April 5, 2019. April 7, 2020. September 23, 2020, 11 th September October 2021. 11 th On May 24, 2021, September 3, 2014 #2 three 2.1 May 2021 February 2022. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | AVALON HOLDINGS CORPORATION AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS FOR THE YEARS ENDED DECEMBER 31, 2021 2020 (in thousands) Additions DESCRIPTION Balance at Beginning of Year Charged (Credited) to Costs and Expenses Charged to Other Accounts Deductions / (Recoveries) Balance at End of Year Year ended December 31, 2021 Allowance for credit losses $ 265 $ 36 $ - 36 (1) $ 265 Deferred tax asset valuation allowance $ 2,269 $ 82 (2) $ - - $ 2,351 Year ended December 31, 2020 Allowance for credit losses $ 275 $ 40 $ - 50 (1) $ 265 Deferred tax asset valuation allowance $ 2,043 $ 226 (2) $ - - $ 2,269 (1) (2) |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of Avalon, its wholly owned subsidiaries and those companies in which Avalon has managerial control. All significant intercompany accounts and transactions have been eliminated in consolidation. |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events Avalon evaluated subsequent events for potential recognition and disclosure through the date the financial statements were issued. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three may, not not 5 |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded in restricted cash on the Consolidated Balance Sheets. Restricted cash of $1.7 million and $3.9 million at December 31, 2021 2020, 5 10 |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or net realizable value. Cost of inventories is determined by the average cost method. If necessary, a provision for potentially obsolete or slow-moving inventory is made based on management’s analysis of inventory levels and future sales forecasts. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Financial Instruments The Company follows the guidance included in the Financial Accounting Standard Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures December 31, 2021 2020 The fair value of the Company’s term loan approximates carrying value at December 31, 2021 2020, |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful life of the asset which varies from 10 to 30 years for land improvements; 5 to 50 years in the case of buildings and improvements; and from 3 to 10 years for machinery and equipment, vehicles and office furniture and equipment (See Note 7 Major additions and improvements are charged to the property and equipment accounts while replacements, maintenance and repairs, which do not |
Debt, Policy [Policy Text Block] | Debt Issuance Costs Debt issuance costs are capitalized and amortized over the life of the related debt. Amortization of deferred financing costs is included in interest expense in the Consolidated Statements of Operations. Debt issuance costs incurred related to the loan and security agreement is presented in the Consolidated Balance Sheets as a direct deduction from the carrying amount of the debt. |
Income Tax, Policy [Policy Text Block] | Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and to operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded against net deferred tax assets when management believes it is more likely than not not The provisions of ASC 740, Income Taxes 740” 740 not |
Revenue [Policy Text Block] | Revenue Recognition The Company recognizes revenue in accordance with FASB ASC 606, Revenue from Contracts with Customers 606” 606, 6 |
Receivable [Policy Text Block] | Accounts Receivable Receivables, net, include amounts billed and currently due from customers. The majority of Avalon’s accounts receivable is due from industrial and commercial customers. Credit is extended based on an evaluation of a customer’s financial condition and, generally, collateral is not not 6 |
Lessee, Leases [Policy Text Block] | Leases Avalon applies FASB Accounting Standards Update (“ASU”) 2016 02, Leases 12 8 |
Equity Method Investments [Policy Text Block] | Non-controlling Interest Under FASB ASC 810 10, Consolidations Overall 810 10” In accordance ASC 810 10 , 810 10 17 |
Share-based Payment Arrangement [Policy Text Block] | Share-Based Compensation Avalon recognizes share-based compensation expense related to stock options issued to employees and directors. Avalon estimates the fair value of the stock options granted using a Monte Carlo simulation. The Monte Carlo Simulation was selected to determine the fair value because it incorporates six 1 2 3 4 5 6 Avalon amortizes the grant date fair value of the stock options over the expected term which approximates the requisite service period. If accelerated vesting occurs based on the market performance of Avalon’s common stock, the compensation costs related to the vested stock options that have not |
Asset Retirement Obligation [Policy Text Block] | Asset Retirement Obligation Avalon recorded an estimated asset retirement obligation of $0.1 million at December 31, 2021 2020, two third |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Asset Impairments Avalon reviews the carrying value of its long-lived assets whenever events or changes in circumstances indicate that its carrying amount may not not Avalon reviewed the carrying value of its long-lived assets in accordance with FASB ASC 360 10 35, Property, Plant and Equipment Overall Subsequent Measurement not 2021 2020 not |
Regulatory Environmental Costs, Policy [Policy Text Block] | Environmental Liabilities When Avalon concludes that it is probable that a liability has been incurred with respect to a site, a provision is made in Avalon’s financial statements for Avalon’s best estimate of the liability based on management’s judgment and experience, information available from regulatory agencies, and the number, financial resources and relative degree of responsibility of other potentially responsible parties who are jointly and severally liable for remediation of that site, as well as, the typical allocation of costs among such parties. If a range of possible outcomes is estimated and no not no not |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Net Income per Share Basic net income per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing the net income by the weighted average number of common shares outstanding. Diluted net income per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing net income by the weighted average number of common shares outstanding plus any weighted common equivalent shares determined to be outstanding during the period using the treasury method. The weighted common equivalent shares included in the calculation are related to stock options granted by Avalon where the weighted average market price of Avalon’s common stock for the period presented is greater than the option exercise price of the stock option. For periods in which Avalon is in a net loss position, the diluted per share amount reported is equal to the basic per share amount because such dilution would be considered anti-dilutive (See Note 9 |
Note 5 - Cash, Cash Equivalen_2
Note 5 - Cash, Cash Equivalents and Restricted Cash (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block] | 2021 2020 Cash and cash equivalents $ 3,254 $ 4,210 Restricted cash 1,696 3,885 Total cash, cash equivalents and restricted cash $ 4,950 $ 8,095 |
Note 6 - Revenues (Tables)
Note 6 - Revenues (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | 2021 2020 Waste management and brokerage services $ 40,266 $ 38,049 Captive landfill management operations 2,444 2,322 Total waste management services revenues 42,710 40,371 Food, beverage and merchandise sales 11,045 6,416 Membership dues revenue 6,697 6,068 Room rental revenue 4,450 2,223 Greens fees and cart rental revenue 2,723 2,270 Salon and spa services 1,059 358 Fitness and tennis lesson revenue 448 336 Other revenue 1,251 678 Total golf and related operations revenue 27,673 18,349 Total net operating revenues $ 70,383 $ 58,720 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Balance at Beginning of Period Provision for Credit Losses Write-offs less Recoveries Balance at End of Period Allowance for credit losses Year ended December 31, 2021 $ 265 $ 36 $ (36 ) $ 265 Year ended December 31, 2020 $ 275 $ 40 $ (50 ) $ 265 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Balance at Beginning of Period Unbilled Membership Dues Billings Balance at End of Period Contract Assets: Unbilled membership dues receivable Year ended December 31, 2021 $ 585 $ 1,997 $ (2,004 ) $ 578 Year ended December 31, 2020 $ 602 $ 2,143 $ (2,160 ) $ 585 Balance at Beginning of Period Billings Revenue Recognized Balance at End of Period Contract Liabilities: Deferred membership dues revenue Year ended December 31, 2021 $ 3,196 $ 6,864 $ (6,697 ) $ 3,363 Year ended December 31, 2020 $ 3,153 $ 6,111 $ (6,068 ) $ 3,196 Customer advance deposits Year ended December 31, 2021 $ 674 $ 1,953 $ (1,832 ) $ 795 Year ended December 31, 2020 $ 553 $ 917 $ (796 ) $ 674 |
Note 7 - Property and Equipme_2
Note 7 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2021 2020 Land and land improvements $ 15,588 $ 15,150 Buildings and improvements 48,603 47,026 Machinery and equipment 7,122 5,469 Office furniture and fixtures 8,773 8,000 Vehicles 791 677 Construction in progress 1,448 1,086 82,325 77,408 Less accumulated depreciation and amortization (28,987 ) (26,109 ) Property and equipment, net $ 53,338 $ 51,299 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Lessee, Operating Lease Assets and Liabilities [Table Text Block] | 2021 2020 Operating lease right-of-use assets $ 1,598 $ 1,728 Current portion of obligations under operating leases $ 534 $ 529 Long-term portion of obligations under operating leases 1,064 1,199 Total obligations under operating leases $ 1,598 $ 1,728 2021 2020 Leased property under finance leases $ 11,978 $ 12,112 Less accumulated amortization (6,588 ) (6,377 ) Leased property under finace leases, net $ 5,390 $ 5,735 Current portion of obligations under finance leases $ 167 $ 333 Long-term portion of obligations under finance leases 496 560 Total obligations under finance leases $ 663 $ 893 |
Lease, Cost [Table Text Block] | 2021 2020 Operating lease cost: Rental expense $ 758 $ 643 Finance lease cost: Depreciation expense $ 545 $ 497 Interest expense 41 40 Total finance lease cost $ 586 $ 537 |
Lease, Liability, Maturity [Table Text Block] | Finance Operating Total 2022 $ 198 $ 597 $ 795 2023 139 491 630 2024 129 315 444 2025 64 253 317 2026 39 84 123 Thereafter 390 - 390 Total lease payments 959 1,740 2,699 Less imputed interest 296 142 438 Total 663 1,598 2,261 Less current portion of obligations under leases 167 534 701 Long-term portion of obligations under leases $ 496 $ 1,064 $ 1,560 |
Note 9 - Basic and Diluted Ne_2
Note 9 - Basic and Diluted Net Income Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2021 2020 Net income attributable to Avalon Holdings Corporation common shareholders $ 1,971 $ 14 Shares used in computing basic income per share 3,899 3,876 Potentially dilutive shares from stock options 34 2 Shares used in computing diluted income per share 3,933 3,878 Income per share attributable to Avalon Holdings Corporation common shareholders Basic net income per share $ 0.51 $ 0.00 Diluted net income per share $ 0.50 $ 0.00 |
Note 10 - Term Loans and Line_2
Note 10 - Term Loans and Line of Credit Agreements (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | 2021 Gross Amount Debt Issuance Costs Net Amount Term Loan Agreement $ 20,833 $ (331 ) $ 20,502 Less current portion 1,168 (42 ) 1,126 Long-term debt $ 19,665 $ (289 ) $ 19,376 2020 Gross Amount Debt Issuance Costs Net Amount Term Loan Agreement $ 21,944 $ (373 ) $ 21,571 Paycheck Protection Program Loans 1,964 - 1,964 Total 23,908 (373 ) 23,535 Less current portion 1,636 (42 ) 1,594 Long-term debt $ 22,272 $ (331 ) $ 21,941 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2022 $ 1,168 2023 1,227 2024 1,290 2025 1,356 2026 1,425 Thereafter 14,367 Total $ 20,833 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2021 2020 Current: Federal $ (3 ) $ (2 ) State 92 100 Total current income taxes 89 98 Deferred: Federal - - State - - Total deferred income taxes - - Total provision for income taxes $ 89 $ 98 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2021 2020 Deferred tax assets: Accounts receivable, allowance for doubtful accounts $ 66 $ 68 Reserves not deductible until paid 4 55 Net operating loss carryforwards Federal 2,168 2,170 State 883 816 Federal tax credit 877 733 Operating lease liabilities 402 416 Other 92 69 Gross deferred tax assets 4,492 4,327 Less valuation allowance (2,351 ) (2,269 ) Deferred tax assets net of valuation allowance $ 2,141 $ 2,058 Deferred tax liabilities: Property and equipment $ (1,731 ) $ (1,552 ) Operating lease right of use assets (402 ) (416 ) Other - (82 ) Gross deferred tax liabilities $ (2,133 ) $ (2,050 ) Net deferred tax asset $ 8 $ 8 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2021 2020 Income before income taxes $ 1,736 $ 52 Less net loss attributable to non-controlling interest in subsidiary (324 ) (60 ) Income before income taxes attributable to Avalon Holdings Corporation common shareholders 2,060 112 Federal statutory rate 21 % 21 % Computed Federal provision for income taxes 433 24 State income taxes, net of federal income tax benefits 71 79 Change in valuation allowance 82 226 Increase in available federal tax credit (144 ) (80 ) Other nondeductible expenses 38 16 Other nontaxable income (411 ) (168 ) Other, net 20 1 Total provision for income taxes $ 89 $ 98 |
Note 13 - Long-term Incentive_2
Note 13 - Long-term Incentive Plan (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Number of Average Average Options Exercise Fair Value at Granted Price Grant Date Outstanding at January 1, 2020 688,000 $ 2.52 $ 1.00 Options granted - - - Options exercised (24,000 ) 1.83 0.43 Options expired (420,000 ) 2.48 1.02 Options cancelled or forfeited - - - Outstanding at December 31, 2020 244,000 2.66 1.03 Options granted - - - Options exercised - - - Options expired (190,000 ) 2.89 1.20 Options cancelled or forfeited - - - Outstanding at December 31, 2021 54,000 $ 1.83 $ 0.43 Options Vested 54,000 $ 1.83 $ 0.43 Exercisable at December 31, 2021 - $ - $ - |
Schedule Of Period And Predetermined Stock Price Needed For Vesting [Table Text Block] | Begins Ends Predetermined Vesting Vesting Vesting Price Block 1 12 months after Grant Dates 48 months after Grant Dates $ 3.43 Block 2 24 months after Grant Dates 60 months after Grant Dates $ 4.69 Block 3 36 months after Grant Dates 72 months after Grant Dates $ 6.43 Block 4 48 months after Grant Dates 84 months after Grant Dates $ 8.81 Block 5 60 months after Grant Dates 96 months after Grant Dates $ 12.07 |
Note 16 - Business Segment In_2
Note 16 - Business Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2021 2020 Net operating revenues from: Waste management services: External customer revenues $ 42,710 $ 40,371 Intersegment revenues - - Total waste management services 42,710 40,371 Golf and related operations: External customer revenues 27,673 18,349 Intersegment revenues 47 41 Total golf and related operations 27,720 18,390 Segment operating revenues 70,430 58,761 Intersegment eliminations (47 ) (41 ) Total net operating revenues $ 70,383 $ 58,720 Income (loss) before income taxes: Waste management services $ 3,505 $ 4,588 Golf and related operations 2,775 (190 ) Segment income before taxes 6,280 4,398 Corporate interest expense (1,117 ) (1,170 ) Corporate gain on debt extinguishment 502 - Corporate other income, net 15 16 General corporate expenses (3,944 ) (3,192 ) Income before income taxes $ 1,736 $ 52 Depreciation and amortization expense: Waste management services $ 104 $ 89 Golf and related operations 2,838 2,671 Corporate 170 149 Total depreciation and amortization expense $ 3,112 $ 2,909 Interest expense: Waste management services $ 3 $ 6 Golf and related operations 38 34 Corporate 1,117 1,170 Total interest expense $ 1,158 $ 1,210 Gain on debt extinguishment: Waste management services $ - $ 553 Golf and related operations 1,462 248 Corporate 502 - Total gain on debt extinguishment $ 1,964 $ 801 Year Ended December 31, 2021 2020 Capital expenditures: Waste management services $ 165 $ 99 Golf and related operations 4,058 4,870 Corporate 576 118 Total capital expenditures $ 4,799 $ 5,087 December 31, 2021 2020 Total assets: Waste management services $ 34,203 $ 31,875 Golf and related operations 59,700 57,863 Corporate 55,027 59,425 Subtotal 148,930 149,163 Elimination of intersegment receivables (70,893 ) (71,213 ) Total assets $ 78,037 $ 77,950 |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Valuation and Qualifying Accounts Disclosure [Table Text Block] | Additions DESCRIPTION Balance at Beginning of Year Charged (Credited) to Costs and Expenses Charged to Other Accounts Deductions / (Recoveries) Balance at End of Year Year ended December 31, 2021 Allowance for credit losses $ 265 $ 36 $ - 36 (1) $ 265 Deferred tax asset valuation allowance $ 2,269 $ 82 (2) $ - - $ 2,351 Year ended December 31, 2020 Allowance for credit losses $ 275 $ 40 $ - 50 (1) $ 265 Deferred tax asset valuation allowance $ 2,043 $ 226 (2) $ - - $ 2,269 (1) (2) |
Note 1 - Description of the B_2
Note 1 - Description of the Business (Details Textual) | 12 Months Ended |
Dec. 31, 2021 | |
Golf and Related Operations [Member] | |
Number of Golf Courses | 4 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Restricted Cash and Cash Equivalents, Noncurrent, Total | $ 1,696 | $ 3,885 |
Asset Retirement Obligation, Ending Balance | $ 100 | $ 100 |
Land and Land Improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 10 years | |
Land and Land Improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 30 years | |
Building and Building Improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |
Building and Building Improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 50 years | |
Machinery and Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 10 years |
Note 5 - Cash, Cash Equivalen_3
Note 5 - Cash, Cash Equivalents and Restricted Cash - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents | $ 3,254 | $ 4,210 | |
Restricted cash | 1,696 | 3,885 | |
Total cash, cash equivalents and restricted cash | $ 4,950 | $ 8,095 | $ 8,631 |
Note 6 - Revenues (Details Text
Note 6 - Revenues (Details Textual) $ in Thousands | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Sep. 03, 2014 | |
Number of Suspended Saltwater Injection Wells | 2 | 2 | |||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 70,383 | $ 58,720 | |||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 300 | 300 | |||
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 578 | 585 | $ 602 | ||
Contract with Customer, Liability, Total | $ 3,400 | $ 3,200 | |||
Sales Revenue, Net to External Customers [Member] | Customer Concentration Risk [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 13.00% | ||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | |||||
Number of Major Customers | 1 | 0 | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 8.00% | ||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 17.00% | ||||
Customer Advance Deposits [Member] | |||||
Contract with Customer, Liability, Total | $ 795 | $ 674 | $ 553 | ||
Waste Management Services [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 42,710 | $ 40,371 | |||
Revenue from Contract with Customer, Excluding Assessed Tax, Percentage | 61.00% | 69.00% | |||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 9,000 | $ 7,900 | |||
Waste Management Services [Member] | Maximum [Member] | |||||
Contract Term (Year) | 1 year | ||||
Waste Management Services [Member] | Sales Revenue, Net to External Customers [Member] | Customer Concentration Risk [Member] | |||||
Number of Major Customers | 1 | ||||
Waste Management Services [Member] | Sales Revenue, Net to External Customers [Member] | Customer Concentration Risk [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 13.00% | ||||
Waste Management Services [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 8.00% | ||||
Waste Management Services [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||
Number of Major Customers | 1 | ||||
Waste Management Services [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 19.00% | ||||
Waste Management Services [Member] | Salt Water Injection Operations [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 0 | 0 | |||
Golf and Related Operations [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 27,673 | $ 18,349 | |||
Revenue from Contract with Customer, Excluding Assessed Tax, Percentage | 39.00% | 31.00% | |||
Number of Golf Courses | 4 | ||||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 1,000 | $ 800 | |||
Golf and Related Operations [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | |||||
Membership Agreement, Term (Year) | 1 year |
Note 6 - Revenues - Disaggregat
Note 6 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 70,383 | $ 58,720 |
Waste Management Services [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 42,710 | 40,371 |
Waste Management Services [Member] | Waste Brokerage And Management Services Member | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 40,266 | 38,049 |
Waste Management Services [Member] | Captive Landfill Management Operations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 2,444 | 2,322 |
Golf and Related Operations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 27,673 | 18,349 |
Golf and Related Operations [Member] | Food and Beverage [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 11,045 | 6,416 |
Golf and Related Operations [Member] | Membership Dues [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 6,697 | 6,068 |
Golf and Related Operations [Member] | Room Rental [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 4,450 | 2,223 |
Golf and Related Operations [Member] | Green Fees and Cart Rental [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 2,723 | 2,270 |
Golf and Related Operations [Member] | Salon and Spa Services [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 1,059 | 358 |
Golf and Related Operations [Member] | Fitness and Tennis Lesson [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 448 | 336 |
Golf and Related Operations [Member] | Other Revenue [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 1,251 | $ 678 |
Note 6 - Revenues - Allowance f
Note 6 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Allowance for doubtful accounts, Balance | $ 265 | $ 275 |
Provision for doubtful accounts | 36 | 40 |
Allowance for Credit Loss, Writeoff | (36) | (50) |
Allowance for doubtful accounts, Balance | $ 265 | $ 265 |
Note 6 - Revenues - Contract As
Note 6 - Revenues - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Balance | $ 585 | $ 602 |
Unbilled | 1,997 | 2,143 |
Billings | (2,004) | (2,160) |
Balance | 578 | 585 |
Balance | 3,200 | |
Billings | 2,004 | 2,160 |
Balance | 3,400 | 3,200 |
Deferred Membership Dues [Member] | ||
Billings | (6,864) | (6,111) |
Balance | 3,196 | 3,153 |
Billings | 6,864 | 6,111 |
Revenue recognized | (6,697) | (6,068) |
Balance | 3,363 | 3,196 |
Customer Advance Deposits [Member] | ||
Billings | (1,953) | (917) |
Balance | 674 | 553 |
Billings | 1,953 | 917 |
Revenue recognized | (1,832) | (796) |
Balance | $ 795 | $ 674 |
Note 7 - Property and Equipme_3
Note 7 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property and equipment, gross | $ 82,325 | $ 77,408 |
Less accumulated depreciation and amortization | (28,987) | (26,109) |
Property and equipment, net | 53,338 | 51,299 |
Land and Land Improvements [Member] | ||
Property and equipment, gross | 15,588 | 15,150 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | 48,603 | 47,026 |
Machinery and Equipment [Member] | ||
Property and equipment, gross | 7,122 | 5,469 |
Office Equipment [Member] | ||
Property and equipment, gross | 8,773 | 8,000 |
Vehicles [Member] | ||
Property and equipment, gross | 791 | 677 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 1,448 | $ 1,086 |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) | 1 Months Ended | ||
Nov. 30, 2003 | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 3 years 6 months | ||
Operating Lease, Liability, Total | $ 1,598,000 | $ 1,728,000 | |
Operating Lease, Weighted Average Discount Rate, Percent | 4.60% | 4.70% | |
Lessee, Finance Lease, Term of Contract (Year) | 10 years | ||
Number of Consecutive Renewal Term Options | 4 | ||
Lessee, Finance Lease, Renewal Term (Year) | 10 years | ||
Lessee, Finance Lease, Annual Rent | $ 15,000 | ||
Leasehold Improvements Required to be Made Per Year | $ 150,000 | ||
Lessee, Finance Lease, Remaining Lease Term (Year) | 31 years 9 months 18 days | ||
Finance Lease, Weighted Average Remaining Lease Term (Year) | 3 years 3 months 18 days | ||
Finance Lease, Weighted Average Discount Rate, Percent | 5.10% | 4.50% | |
Lease for Golf Cart GPS Equipment [Member] | |||
Operating Lease, Liability, Total | $ 500,000 | ||
Operating Lease Agreement for Hotel furniture [Member] | |||
Operating Lease, Liability, Total | $ 900,000 | ||
Minimum [Member] | |||
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year | ||
Minimum [Member] | Golf and Related Operations [Member] | |||
Lessee, Finance Lease, Remaining Lease Term (Year) | 1 year | ||
Maximum [Member] | |||
Lessee, Operating Lease, Remaining Lease Term (Year) | 4 years | ||
Maximum [Member] | Golf and Related Operations [Member] | |||
Lessee, Finance Lease, Remaining Lease Term (Year) | 4 years 9 months 18 days |
Note 8 - Leases - Operating Lea
Note 8 - Leases - Operating Leases Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Operating lease right-of-use assets | $ 1,598 | $ 1,728 |
Current portion of obligations under operating leases | 534 | 529 |
Long-term portion of obligations under operating leases | 1,064 | 1,199 |
Total obligations under operating leases | 1,598 | 1,728 |
Leased property under finance leases | 11,978 | 12,112 |
Less accumulated amortization | (6,588) | (6,377) |
Leased property under finace leases, net | 5,390 | 5,735 |
Current portion of obligations under finance leases | 167 | 333 |
Long-term portion of obligations under finance leases | 496 | 560 |
Total obligations under finance leases | $ 663 | $ 893 |
Note 8 - Leases - Lease Cost (D
Note 8 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Rental expense | $ 758 | $ 643 |
Depreciation expense | 545 | 497 |
Interest expense | 41 | 40 |
Total finance lease cost | $ 586 | $ 537 |
Note 8 - Leases - Future Commit
Note 8 - Leases - Future Commitments Under Long-term Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
2022, finance | $ 198 | |
2022, operating | 597 | |
2022, total | 795 | |
2023, finance | 139 | |
2023, operating | 491 | |
2023, total | 630 | |
2024, finance | 129 | |
2024, operating | 315 | |
2024, total | 444 | |
2025, finance | 64 | |
2025, operating | 253 | |
2025, total | 317 | |
2026, finance | 39 | |
2026, operating | 84 | |
2026, total | 123 | |
Thereafter, finance | 390 | |
Thereafter, operating | 0 | |
Thereafter, total | 390 | |
Total lease payments, finance | 959 | |
Total lease payments, operating | 1,740 | |
Total lease payments, total | 2,699 | |
Less imputed interest, finance | 296 | |
Less imputed interest, operating | 142 | |
Less imputed interest, total | 438 | |
Total, finance | 663 | $ 893 |
Total, operating | 1,598 | 1,728 |
Total, total | 2,261 | |
Less: current portion of obligations under leases, finance | 167 | 333 |
Less: current portion of obligations under leases, operating | 534 | 529 |
Less: current portion of obligations under leases, total | 701 | |
Long-term portion of obligations under leases, finance | 496 | 560 |
Long-term portion of obligations under operating leases | 1,064 | $ 1,199 |
Long-term portion of obligations under leases, total | $ 1,560 |
Note 9 - Basic and Diluted Ne_3
Note 9 - Basic and Diluted Net Income Per Share (Details Textual) - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Weighted Average Number of Shares Outstanding, Basic, Total (in shares) | 3,899,431 | 3,875,693 |
Weighted Average Number of Shares Outstanding, Basic, Total (in shares) | 3,899,431 | 3,875,693 |
Weighted Average Number of Shares Outstanding, Diluted, Total (in shares) | 3,933,071 | 3,877,853 |
Note 9 - Basic and Diluted Ne_4
Note 9 - Basic and Diluted Net Income (Loss) Per Share - Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Net income attributable to Avalon Holdings Corporation common shareholders | $ 1,971 | $ 14 |
Weighted Average Number of Shares Outstanding, Basic, Total (in shares) | 3,899,431 | 3,875,693 |
Potentially dilutive shares from stock options (in shares) | 34,000 | 2,000 |
Shares used in computing diluted income per share (in shares) | 3,933,071 | 3,877,853 |
Basic net income per share (in dollars per share) | $ 0.51 | $ 0 |
Diluted net income per share (in dollars per share) | $ 0.50 | $ 0 |
Note 10 - Term Loans and Line_3
Note 10 - Term Loans and Line of Credit Agreements (Details Textual) | Dec. 20, 2019USD ($) | May 31, 2018USD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Long-term Debt, Gross | $ 23,908,000 | $ 20,833,000 | $ 23,908,000 | ||||
Debt Issuance Costs, Net, Total | 373,000 | $ 373,000 | |||||
Long-term Debt, Weighted Average Interest Rate, over Time | 4.93% | 4.73% | |||||
New Term Loan Agreement [Member] | Laurel Capital Corporation [Member] | |||||||
Long-term Debt, Gross | $ 23,000,000 | ||||||
Payments of Debt Issuance Costs | 300,000 | ||||||
Proceeds from Issuance of Debt | $ 7,200,000 | ||||||
Restricted Cash, Total | 3,900,000 | $ 1,700,000 | $ 3,900,000 | ||||
Debt Instrument, Periodic Payment, Number of Payments | 119 | ||||||
Debt Instrument, Maturity Schedule (Year) | 15 years | ||||||
Debt Instrument, Interest Rate, Stated Percentage, First Five Years | 5.00% | ||||||
Debt Instrument, Prepayment Penalty, Percentage, First Five Years | 5.00% | ||||||
Debt Instrument, Prepayment Penalty, Percentage, Years Six and Seven | 4.00% | ||||||
Debt Instrument, Prepayment Penalty, Percentage, Years Eight and Nine | 3.00% | ||||||
Debt Instrument, Prepayment Penalty, Percentage, Year Ten | 2.00% | ||||||
Debt Instrument, Covenant, Fixed Charge Coverage Ratio | 1.20 | ||||||
Debt Issuance Costs, Net, Total | $ 400,000 | ||||||
New Castle Country Club Commercial Mortgage [Member] | Mercer County State Bank [Member] | |||||||
Repayments of Debt | 13,800,000 | ||||||
The Line of Credit Agreement [Member] | Home Savings Bank [Member] | |||||||
Repayments of Lines of Credit | $ 1,700,000 | ||||||
Debt Instrument, Covenant, Fixed Charge Coverage Ratio | 1.20 | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | ||||||
Line of Credit Facility, Amounts in Excess of, Subject to Borrowing Base | $ 1,000,000 | ||||||
Proceeds from Lines of Credit, Total | $ 0 | ||||||
Line of Credit Facility, Interest Rate at Period End | 3.50% | ||||||
The Line of Credit Agreement [Member] | Home Savings Bank [Member] | Prime Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | ||||||
Paycheck Protection Program CARES Act [Member] | |||||||
Long-term Debt, Gross | 1,964,000 | 1,964,000 | |||||
Debt Issuance Costs, Net, Total | 0 | 0 | |||||
Proceeds from Issuance of Long-term Debt, Total | $ 2,800,000 | ||||||
Debt Instrument, Decrease, Forgiveness | 800,000 | $ 2,000,000 | |||||
Interest Forgiven | $ 4,000 | $ 17,000 | $ 4,000 |
Note 10 - Term Loans and Line_4
Note 10 - Term Loans and Line of Credit Agreements - Summary of Term Loan and Line of Credit Agreements (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Long-term debt, gross | $ 20,833 | $ 23,908 |
Debt issuance costs | (373) | |
Term Loan Agreement | 23,535 | |
Less current portion of long-term debt, gross | 1,168 | 1,636 |
Less current portion debt issuance costs | (42) | (42) |
Current portion of long-term debt | 1,126 | 1,594 |
Long-term debt, gross, net of current portion | 19,665 | 22,272 |
Debt issuance costs, net of current portion | (289) | (331) |
Long-term debt | 19,376 | 21,941 |
Term Loan Agreement [Member] | ||
Long-term debt, gross | 20,833 | 21,944 |
Debt issuance costs | (331) | (373) |
Term Loan Agreement | $ 20,502 | 21,571 |
Paycheck Protection Program CARES Act [Member] | ||
Long-term debt, gross | 1,964 | |
Debt issuance costs | 0 | |
Term Loan Agreement | $ 1,964 |
Note 10 - Term Loans and Line_5
Note 10 - Term Loans and Line of Credit Agreements - Future Maturities of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
2022 | $ 1,168 | |
2023 | 1,227 | |
2024 | 1,290 | |
2025 | 1,356 | |
2026 | 1,425 | |
Thereafter | 14,367 | |
Total | $ 20,833 | $ 23,908 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Deferred Tax Liabilities, Gross, Total | $ 2,133,000 | $ 2,050,000 |
Deferred Tax Assets, Net of Valuation Allowance, Total | 2,141,000 | 2,058,000 |
Deferred Tax Assets, Valuation Allowance, Total | $ 2,351,000 | 2,269,000 |
Open Tax Year | 2017 2018 2019 2020 2021 | |
Income Tax Examination, Penalties and Interest Accrued, Total | $ 0 | 0 |
Income Taxes Paid, Net, Total | 65,000 | $ 148,000 |
Operating Loss Carryforwards, Total | 10,306,000 | |
Domestic Tax Authority [Member] | Indefinite Tax Credit Carryforward [Member] | ||
Operating Loss Carryforwards, Total | 2,076,000 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | $ 11,180,000 |
Note 11 - Income Taxes - Income
Note 11 - Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Federal | $ (3) | $ (2) |
State | 92 | 100 |
Total current income taxes | 89 | 98 |
Federal | 0 | 0 |
State | 0 | 0 |
Total deferred income taxes | 0 | 0 |
Total provision for income taxes | $ 89 | $ 98 |
Note 11 - Income Taxes - Deferr
Note 11 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets: | ||
Accounts receivable, allowance for doubtful accounts | $ 66,000 | $ 68,000 |
Reserves not deductible until paid | 4,000 | 55,000 |
Net operating loss carryforwards | ||
Federal | 2,168,000 | 2,170,000 |
State | 883,000 | 816,000 |
Federal tax credit | 877,000 | 733,000 |
Operating lease liabilities | 402,000 | 416,000 |
Other | 92,000 | 69,000 |
Gross deferred tax assets | 4,492,000 | 4,327,000 |
Less valuation allowance | (2,351,000) | (2,269,000) |
Deferred tax assets net of valuation allowance | 2,141,000 | 2,058,000 |
Deferred tax liabilities: | ||
Property and equipment | (1,731,000) | (1,552,000) |
Operating lease right of use assets | (402,000) | (416,000) |
Other | 0 | (82,000) |
Gross deferred tax liabilities | (2,133,000) | (2,050,000) |
Net deferred tax asset | $ 8,000 | $ 8,000 |
Note 11 - Income Taxes - Inco_2
Note 11 - Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income before income taxes | $ 1,736 | $ 52 |
Less net loss attributable to non-controlling interest in subsidiary | (324) | (60) |
ncome (loss) before income taxes attributable to Avalon Holdings Corporation common shareholders | $ 2,060 | $ 112 |
Federal statutory rate | 21.00% | 21.00% |
Computed Federal provision for income taxes | $ 433 | $ 24 |
State income taxes, net of federal income tax benefits | 71 | 79 |
Change in valuation allowance | 82 | 226 |
Increase in available federal tax credit | (144) | (80) |
Other nondeductible expenses | 38 | 16 |
Other nontaxable income | (411) | (168) |
Other, net | 20 | 1 |
Total provision for income taxes | $ 89 | $ 98 |
Note 12 - Retirement Benefits (
Note 12 - Retirement Benefits (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 100.00% |
Defined Contribution Plan, Employers Matching Contribution, Requisite Service Period (Year) | 5 years |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 |
Note 13 - Long-term Incentive_3
Note 13 - Long-term Incentive Plan (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 25, 2019 | Oct. 06, 2009 | |
Minimum Percentage of Fair Market Value for Non-qualified Stock Option Price | 100.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period (in shares) | 190,000 | 420,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 24,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 54,000 | 244,000 | 688,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 64,000 | ||||||
Share-based Payment Arrangement, Expense | 5,000 | $ 6,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 7,000 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 5 months 1 day | ||||||
Ten Percent Shareholders [Member] | |||||||
Minimum Percentage of Fair Market Value for Incentive Stock Option Price | 110.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||
Other Employees [Member] | |||||||
Minimum Percentage of Fair Market Value for Incentive Stock Option Price | 100.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 5 years | ||||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | ||||||
Number Of Years After Options Vested, Stock Price Reach Predetermined Vesting Price (Year) | 3 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period (in shares) | 190,000 | 420,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 90,000 | 24,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 36,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 54,000 | ||||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (Year) | 1 year | ||||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (Year) | 6 months | ||||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan [Member] | Common Class A [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,300,000 | ||||||
The 2019 Long-Term Incentive Plan [Member] | Common Class A [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,300,000 | ||||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan And 2019 Long Term Incentive Plan [Member] | Common Class A [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,300,000 |
Note 13 - Long-term Incentive_4
Note 13 - Long-term Incentive Plan - Stock Option Activity (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Outstanding outstanding (in shares) | 244,000 | 688,000 |
Weighted average exercise price, options outstanding (in dollars per share) | $ 2.66 | $ 2.52 |
Weighted average fair value at grant date, options outstanding (in dollars per share) | $ 1.03 | $ 1 |
Options exercised (in shares) | (24,000) | |
Weighted average exercise price, options exercised (in dollars per share) | $ 1.83 | |
Weighted average fair value at grant date, options exercised (in dollars per share) | $ 0.43 | |
Options expired (in shares) | (190,000) | (420,000) |
Weighted average exercise price, options expired (in dollars per share) | $ 2.89 | $ 2.48 |
Weighted average fair value at grant date, options expired (in dollars per share) | $ 1.20 | $ 1.02 |
Outstanding outstanding (in shares) | 54,000 | 244,000 |
Weighted average exercise price, options outstanding (in dollars per share) | $ 1.83 | $ 2.66 |
Weighted average fair value at grant date, options outstanding (in dollars per share) | $ 0.43 | $ 1.03 |
Options Vested (in shares) | 54,000 | |
Weighted average exercise price, options vested (in dollars per share) | $ 1.83 | |
Weighted average fair value at grant date, options vested (in dollars per share) | $ 0.43 |
Note 13 - Long-term Incentive_5
Note 13 - Long-term Incentive Plan - Period and Predetermined Stock Price Needed for Vesting (Details) | 12 Months Ended |
Dec. 31, 2021$ / shares | |
Share-based Payment Arrangement, Tranche One [Member] | |
Begins Vesting | 12 months after Grant Dates |
Ends Vesting | 48 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 3.43 |
Share-based Payment Arrangement, Tranche Two [Member] | |
Begins Vesting | 24 months after Grant Dates |
Ends Vesting | 60 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 4.69 |
Share-based Payment Arrangement, Tranche Three [Member] | |
Begins Vesting | 36 months after Grant Dates |
Ends Vesting | 72 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 6.43 |
Share-Based Compensation Award Tranche Four [Member] | |
Begins Vesting | 48 months after Grant Dates |
Ends Vesting | 84 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 8.81 |
Share-Based Compensation Award Tranche Five [Member] | |
Begins Vesting | 60 months after Grant Dates |
Ends Vesting | 96 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 12.07 |
Note 14 - Shareholders' Equity
Note 14 - Shareholders' Equity (Details Textual) | 12 Months Ended | |
Dec. 31, 2021shares | Dec. 31, 2020 | |
Number of Class A Common Stock Convertible with Each Class B Common Stock (in shares) | 1 | |
Common Class A [Member] | ||
Common Stock, Votes Per Share | 1 | 1 |
Common Class B [Member] | ||
Common Stock, Votes Per Share | 10 | 10 |
Note 16 - Business Segment In_3
Note 16 - Business Segment Information (Details Textual) $ in Millions | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2021USD ($) | Dec. 31, 2020 | |
Waste Management Services [Member] | |||
Increase (Decrease) in Total Assets | $ 2.3 | ||
Golf and Related Operations [Member] | |||
Increase (Decrease) in Total Assets | 1.8 | ||
Corporate Segment [Member] | |||
Increase (Decrease) in Total Assets | $ (4.4) | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||
Number of Major Customers | 1 | 0 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member] | |||
Concentration Risk, Percentage | 8.00% | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member] | Waste Management Services [Member] | |||
Concentration Risk, Percentage | 8.00% | ||
Customer Concentration Risk [Member] | Sales Revenue, Net to External Customers [Member] | Waste Management Services [Member] | |||
Number of Major Customers | 1 | ||
Customer Concentration Risk [Member] | Sales Revenue, Net to External Customers [Member] | One Customer [Member] | |||
Concentration Risk, Percentage | 13.00% | ||
Customer Concentration Risk [Member] | Sales Revenue, Net to External Customers [Member] | One Customer [Member] | Waste Management Services [Member] | |||
Concentration Risk, Percentage | 13.00% |
Note 16 - Business Segment In_4
Note 16 - Business Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 70,383 | $ 58,720 |
Income before income taxes | 1,736 | 52 |
Interest expense | (1,158) | (1,210) |
Gain on debt extinguishment | 1,964 | 801 |
Other income, net | 369 | 337 |
Income before income taxes | 1,736 | 52 |
Depreciation and amortization expense | 3,112 | 2,909 |
Interest expense | 1,158 | 1,210 |
Capital expenditures | 4,799 | 5,087 |
Total Assets | 78,037 | 77,950 |
Waste Management Services [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 42,710 | 40,371 |
Golf and Related Operations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 27,673 | 18,349 |
Operating Segments [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 70,430 | 58,761 |
Income before income taxes | 6,280 | 4,398 |
Income before income taxes | 6,280 | 4,398 |
Total Assets | 148,930 | 149,163 |
Operating Segments [Member] | Waste Management Services [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 42,710 | 40,371 |
Income before income taxes | 3,505 | 4,588 |
Interest expense | (3) | (6) |
Gain on debt extinguishment | 0 | 553 |
Income before income taxes | 3,505 | 4,588 |
Depreciation and amortization expense | 104 | 89 |
Interest expense | 3 | 6 |
Capital expenditures | 165 | 99 |
Total Assets | 34,203 | 31,875 |
Operating Segments [Member] | Golf and Related Operations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 27,720 | 18,390 |
Income before income taxes | 2,775 | (190) |
Interest expense | (38) | (34) |
Gain on debt extinguishment | 1,462 | 248 |
Income before income taxes | 2,775 | (190) |
Depreciation and amortization expense | 2,838 | 2,671 |
Interest expense | 38 | 34 |
Capital expenditures | 4,058 | 4,870 |
Total Assets | 59,700 | 57,863 |
Intersegment Eliminations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | (47) | (41) |
Total Assets | (70,893) | (71,213) |
Intersegment Eliminations [Member] | Waste Management Services [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 0 | 0 |
Intersegment Eliminations [Member] | Golf and Related Operations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 47 | 41 |
Corporate, Non-Segment [Member] | ||
Interest expense | (1,117) | (1,170) |
Gain on debt extinguishment | 502 | 0 |
Other income, net | 15 | 16 |
General corporate expenses | (3,944) | (3,192) |
Depreciation and amortization expense | 170 | 149 |
Interest expense | 1,117 | 1,170 |
Capital expenditures | 576 | 118 |
Total Assets | $ 55,027 | $ 59,425 |
Note 17 - Certain Relationshi_2
Note 17 - Certain Relationships and Related Transactions (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | 24 Months Ended | |||
Aug. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | |
Net Income (Loss) Attributable to Noncontrolling Interest, Total | $ (324,000) | $ (60,000) | ||||
Avalon Med Spa [Member] | ||||||
Net Income (Loss) Attributable to Noncontrolling Interest, Total | $ 100,000 | |||||
Avalon Med Spa [Member] | ||||||
Noncontrolling Interest, Ownership Percentage by Parent | 50.10% | |||||
Investment in Subsidiary [Member] | Management and Accredited Investors [Member] | ||||||
Related Party Transaction, Amounts of Transaction | $ 1,000,000 | |||||
Investment in Subsidiary [Member] | Outside Director, Accredited Investor [Member] | Maximum [Member] | ||||||
Related Party Transaction, Percentage of Total Investment | 10.00% | |||||
AWMS Holdings, LLC [Member] | ||||||
Equity Method Investments | $ 3,400,000 | $ 3,400,000 | $ 3,400,000 | |||
Proceeds from Issuance of Private Placement | $ 3,800,000 | $ 3,800,000 | ||||
Equity Method Investment, Ownership Percentage | 47.00% | 47.00% | ||||
Net Income (Loss) Attributable to Noncontrolling Interest, Total | $ 200,000 | $ 100,000 | ||||
Avalon Med Spa [Member] | ||||||
Equity Method Investments | $ 359,000 | |||||
Proceeds from Issuance of Private Placement | $ 358,000 |
Note 18 - Injection Wells Sus_2
Note 18 - Injection Wells Suspension (Details Textual) | Dec. 31, 2021 | Sep. 03, 2014 |
Number of Suspended Saltwater Injection Wells | 2 | 2 |
Schedule II - Valuation and Q_3
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Balance at beginning of year | $ 265 | $ 275 | |
Additions charged (credited) to costs and expenses | 36 | 40 | |
Additions charged to other accounts | 0 | 0 | |
Deductions (recoveries) | [1] | 36 | 50 |
Balance at ending of year | 265 | 265 | |
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | |||
Balance at beginning of year | 2,269 | 2,043 | |
Additions charged (credited) to costs and expenses | [2] | 82 | 226 |
Additions charged to other accounts | 0 | 0 | |
Deductions (recoveries) | 0 | 0 | |
Balance at ending of year | $ 2,351 | $ 2,269 | |
[1] | Accounts receivable written-off as uncollectible, net of recoveries. | ||
[2] | Change in valuation allowance primarily for deferred tax assets when it is more likely than not that the deferred tax assets will not be realized. |