Document And Entity Information
Document And Entity Information $ in Millions | 12 Months Ended |
Dec. 31, 2023 USD ($) shares | |
Document Information [Line Items] | |
Document Type | 10-K |
Document Annual Report | true |
Document Period End Date | Dec. 31, 2023 |
Document Transition Report | false |
Entity File Number | 1-14105 |
Entity Registrant Name | AVALON HOLDINGS CORPORATION |
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 |
Security Exchange Name | NYSE |
Trading Symbol | AWX |
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 |
ICFR Auditor Attestation Flag | false |
Document Financial Statement Error Correction [Flag] | false |
Entity Shell Company | false |
Entity Public Float | $ | $ 7.5 |
Entity Central Index Key | 0001061069 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Auditor Firm ID | 248 |
Auditor Name | GRANT THORNTON LLP |
Auditor Location | Cleveland, Ohio |
Common Class A [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding (in shares) | 3,287,647 |
Common Class B [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding (in shares) | 611,784 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | $ 1,187 | $ 1,624 |
Accounts receivable, less allowance for credit losses of $260 at December 31, 2023 and December 31, 2022, respectively | 9,499 | 11,127 |
Unbilled membership dues receivable | 567 | 599 |
Inventories | 1,662 | 1,461 |
Prepaid expenses | 1,116 | 1,172 |
Other current assets | 14 | 105 |
Total current assets | 14,045 | 16,088 |
Property and equipment, net | 56,630 | 56,805 |
Property and equipment under finance leases, net | 5,711 | 5,001 |
Operating lease right-of-use assets | 1,270 | 1,386 |
Restricted cash | 10,265 | 10,426 |
Noncurrent deferred tax asset | 8 | 8 |
Other assets, net | 36 | 36 |
Total assets | 87,965 | 89,750 |
Liabilities and Equity | ||
Current portion of long-term debt | 538 | 503 |
Current portion of obligations under finance leases | 198 | 115 |
Current portion of obligations under operating leases | 432 | 424 |
Accounts payable | 9,657 | 10,995 |
Accrued payroll and other compensation | 1,277 | 989 |
Accrued taxes | 539 | 643 |
Deferred membership dues revenue | 3,443 | 3,643 |
Other liabilities and accrued expenses | 1,825 | 1,544 |
Total current liabilities | 17,909 | 18,856 |
Long-term debt, net of current portion | 29,220 | 29,758 |
Line of credit | 3,200 | 1,550 |
Obligations under finance leases, net of current portion | 598 | 381 |
Obligations under operating leases, net of current portion | 838 | 962 |
Asset retirement obligation | 100 | 100 |
Commitments and Contingencies | ||
Equity: | ||
Paid-in capital | 59,206 | 59,205 |
Accumulated deficit | (22,529) | (20,754) |
Total Avalon Holdings Corporation Shareholders' Equity | 36,716 | 38,490 |
Non-controlling interest in subsidiaries | (616) | (347) |
Total equity | 36,100 | 38,143 |
Total liabilities and equity | 87,965 | 89,750 |
Common Class A [Member] | ||
Equity: | ||
Class A Common Stock, $.01 par value, one vote per share: authorized 10,500,000 shares; issued and outstanding 3,287,647 shares at December 31, 2023 and 2022 | 33 | 33 |
Common Class B [Member] | ||
Equity: | ||
Class A Common Stock, $.01 par value, one vote per share: authorized 10,500,000 shares; issued and outstanding 3,287,647 shares at December 31, 2023 and 2022 | $ 6 | $ 6 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) $ in Thousands | Dec. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares |
Accounts Receivable, Allowance for Credit Loss, Current | $ | $ 260 | $ 260 |
Common Class A [Member] | ||
Common stock, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 |
Common Stock, Votes Per Share | 1 | |
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 Class B [Member] | ||
Common stock, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 |
Common Stock, Votes Per Share | 10 | |
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 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net operating revenues: | ||
Revenues | $ 80,515 | $ 81,180 |
Costs and expenses: | ||
Depreciation and amortization expense | 3,826 | 3,483 |
Selling, general and administrative expenses | 10,227 | 10,133 |
Operating (loss) income | (273) | 347 |
Other income (expense): | ||
Interest expense | 2,098 | 1,464 |
Other income, net | 384 | 231 |
Loss before income taxes | (1,987) | (886) |
Provision for income taxes | 57 | 94 |
Net loss | (2,044) | (980) |
Less net loss attributable to non-controlling interest in subsidiaries | (269) | (397) |
Net loss attributable to Avalon Holdings Corporation common shareholders | $ (1,775) | $ (583) |
Basic net loss per share (in dollars per share) | $ (0.46) | $ (0.15) |
Weighted average shares outstanding - basic (in shares) | 3,899,431 | 3,899,431 |
Operating Segments [Member] | ||
Net operating revenues: | ||
Revenues | $ 80,595 | $ 81,260 |
Other income (expense): | ||
Loss before income taxes | 3,829 | 4,524 |
Waste Management Services [Member] | ||
Net operating revenues: | ||
Revenues | 44,611 | 49,763 |
Costs and expenses: | ||
Operating costs | 35,642 | 40,380 |
Waste Management Services [Member] | Operating Segments [Member] | ||
Net operating revenues: | ||
Revenues | 44,611 | 49,763 |
Costs and expenses: | ||
Depreciation and amortization expense | 109 | 118 |
Other income (expense): | ||
Interest expense | 0 | 1 |
Loss before income taxes | 4,013 | 4,373 |
Golf and Related Operations [Member] | ||
Net operating revenues: | ||
Revenues | 35,984 | 31,497 |
Costs and expenses: | ||
Operating costs | 24,775 | 21,337 |
Golf and Related Operations [Member] | Operating Segments [Member] | ||
Net operating revenues: | ||
Revenues | 35,904 | 31,417 |
Costs and expenses: | ||
Depreciation and amortization expense | 3,464 | 3,169 |
Other income (expense): | ||
Interest expense | 30 | 27 |
Loss before income taxes | (184) | 151 |
Golf and Related Operations [Member] | Food and Beverage [Member] | ||
Net operating revenues: | ||
Revenues | 13,491 | 12,137 |
Costs and expenses: | ||
Operating costs | 6,318 | 5,500 |
Golf and Related Operations [Member] | Product and Service, Other [Member] | ||
Net operating revenues: | ||
Revenues | $ 22,413 | $ 19,280 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (2,044) | $ (980) |
Reconciliation of net loss to cash provided by operating activities: | ||
Depreciation and amortization expense | 3,826 | 3,483 |
Amortization of debt issuance costs | 60 | 50 |
Compensation costs - stock options | 1 | 4 |
Provision for losses on accounts receivable | 56 | 32 |
Change in operating assets and liabilities: | ||
Accounts receivable | 1,572 | (1,226) |
Unbilled membership dues receivable | 32 | (21) |
Inventories | (201) | (356) |
Prepaid expenses | 56 | (176) |
Other assets, net | 91 | 0 |
Accounts payable | (1,359) | 663 |
Accrued payroll and other compensation | 288 | 192 |
Accrued taxes | (104) | 35 |
Deferred membership dues revenue | (200) | 280 |
Other liabilities and accrued expenses | 281 | 279 |
Net cash provided by operating activities | 2,355 | 2,259 |
Cash flows from investing activities: | ||
Capital expenditures | 3,897 | 6,393 |
Net cash used in investing activities | (3,897) | (6,393) |
Cash flows from financing activities: | ||
Proceeds under New Term Loam facility | 0 | 31,000 |
Principal payments on term loan facilities | (563) | (21,014) |
Principal payments on finance lease obligations | (143) | (167) |
Borrowings under line of credit facility | 1,650 | 1,550 |
Payments of debt issuance costs | 0 | (277) |
Net cash used in financing activities | 944 | 11,234 |
Increase (decrease) in cash, cash equivalents and restricted cash | (598) | 7,100 |
Cash, cash equivalents and restricted cash at beginning of year | 12,050 | 4,950 |
Cash, cash equivalents and restricted cash at end of year | 11,452 | 12,050 |
Significant non-cash operating and investing activities: | ||
Capital expenditures included in accounts payable | 21 | 168 |
Significant non-cash investing and financing activities: | ||
Operating lease right-of-use assets in exchange for lease obligations | 323 | 427 |
Finance lease obligations incurred | 443 | 0 |
Cash paid during the year for interest | 2,009 | 1,313 |
Cash paid during the year for income taxes | 162 | 58 |
Subsidiaries [Member] | ||
Cash flows from financing activities: | ||
Proceeds from subsidiary private placement offering | $ 0 | $ 142 |
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, 2021 | 3,287,647 | 611,784 | |||||
Balance at Dec. 31, 2021 | $ 33 | $ 6 | $ 59,201 | $ (20,171) | $ 39,069 | $ (92) | $ 38,977 |
Stock options - compensation costs | 0 | 0 | 4 | 0 | 4 | 0 | 4 |
Investment in subsidiary from accredited investors | 0 | 0 | 0 | 0 | 0 | 142 | 142 |
Net loss | $ 0 | $ 0 | 0 | (583) | (583) | (397) | (980) |
Balance (in shares) at Dec. 31, 2022 | 3,287,647 | 611,784 | |||||
Balance at Dec. 31, 2022 | $ 33 | $ 6 | 59,205 | (20,754) | 38,490 | (347) | 38,143 |
Stock options - compensation costs | $ 0 | $ 0 | 1 | 0 | 1 | 0 | 1 |
Net loss | 0 | (1,775) | (1,775) | (269) | (2,044) | ||
Balance (in shares) at Dec. 31, 2023 | 3,287,647 | 611,784 | |||||
Balance at Dec. 31, 2023 | $ 33 | $ 6 | $ 59,206 | $ (22,529) | $ 36,716 | $ (616) | $ 36,100 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2023 | |
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, 2023 AND 2022 (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, 2023 Allowance for credit losses $ 260 $ 56 $ - $ 56 (1) $ 260 Deferred tax asset valuation allowance $ 2,488 $ 477 (2) $ - $ - $ 2,965 Year ended December 31, 2022 Allowance for credit losses $ 265 $ 32 $ - $ 37 (1) $ 260 Deferred tax asset valuation allowance $ 2,351 $ 137 (2) $ - $ - $ 2,488 (1) (2) |
Note 1 - Description of Busines
Note 1 - Description of Business | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Note 1. Description of the Business Avalon Holdings Corporation (“Avalon” or the “Company”) was formed on April 30, 1998 as a subsidiary of American Waste Services, Inc. (“AWS”). On June 17, 1998, AWS distributed, as a special dividend, all of the outstanding shares of capital stock of Avalon to the holders of AWS common stock on a pro rata and corresponding basis. 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, 2023 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 2. Summary of Significant Accounting Policies 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. 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. Reclassifications Accrued income taxes on the consolidated balance sheets and consolidated statement of cash flows for 2022 have been reclassified to conform to the presentation for 2023. Such reclassifications had no effect on changes in operations. 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 months or less when purchased to be cash equivalents for purposes of the Consolidated Statements of Cash Flows and Consolidated Balance Sheets. Avalon maintains its cash balances in various financial institutions. These balances may, at times, exceed federal insured limits. Avalon has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk relating to its cash and cash equivalents (See Note 4). 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 $10.3 million and $10.4 million at December 31, 2023 and 2022, respectively, consists of loan proceeds deposited into a project fund account to fund costs associated with the renovation and expansion of The Grand Resort and the Avalon Field Club at New Castle in accordance with the provisions of the loan and security agreement (See Notes 4 and 9). 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 The fair value of the Company’s term loan approximates carrying value at December 31, 2023 and 2022, as neither the Company’s credit rating nor credit conditions have changed substantially since the debt was refinanced. 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. Leasehold improvements are included in building improvements and amortized on a straight-line basis over the shorter of their estimated useful lives or the term of the lease (See Note 6). Major additions and improvements are charged to the property and equipment accounts while replacements, maintenance and repairs, which do not improve or extend the life of the respective asset, are expensed as incurred. The cost of assets retired or otherwise disposed of and the related accumulated depreciation is eliminated from the accounts in the year of disposal. Gains or losses resulting from disposals of property and equipment are recorded in “Other income, net” in our Consolidated Statements of Operations. 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 (See Note 9). 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 that such deferred tax assets will not be realized. Avalon recognizes any interest and penalty assessed by taxing authorities as a component of interest expense and other expense, respectively (see Note 10). The provisions of ASC 740, Income Taxes Revenue Recognition The Company recognizes revenue in accordance with FASB ASC 606, Revenue from Contracts with Customers 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 required. The amounts due are stated at their net realizable value. The Company maintains an allowance for credit losses to provide for the estimated amount of receivables that will not be collected. Customer accounts that are outstanding longer than the contractual payment terms are considered past due. Avalon determines its allowance by considering a number of factors, including the length of time trade accounts receivable are past due, Avalon’s previous accounts receivable loss history, the customer’s current ability to pay its obligation to Avalon and the condition of the general economy and the industry as a whole. Avalon writes off accounts receivable when they become uncollectible. Payments subsequently received on such receivables are credited to the allowance for credit losses, or to income, as appropriate under the circumstances (See Note 5). Leases Avalon applies FASB Accounting Standards Update (“ASU”) 2016-02, Leases Non-controlling Interest Under FASB ASC 810-10, Consolidations Overall In accordance with ASC 810-10 , 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 minimum considerations; 1) the exercise price of the option, 2) the expected term of the option, taking into account both the contractual term of the option, the effects of employees’ expected exercise and post-vesting employment termination behavior, as well as the possibility of change in control events during the contractual term of the option agreements, 3) the current fair value of the underlying equity, 4) the expected volatility of the value of the underlying share for the expected term of the option, 5) the expected dividends on the underlying share for the expected term of the option and 6) the risk-free interest rate(s) for the expected term of the option. 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 previously been amortized are recognized upon vesting (See Note 12). Asset Retirement Obligation Avalon recorded an estimated asset retirement obligation of $0.1 million at December 31, 2023 and 2022, respectively, to plug and abandon the two salt water injection wells based upon an estimate from an experienced and qualified third party. 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 be recoverable. If indicators of impairment exist, Avalon would determine whether the estimated undiscounted sum of the future cash flows of such assets and their eventual disposition is less than its carrying amount. If less, an impairment loss would be recognized if, and to the extent that the carrying amount of such assets exceeds their respective fair value. Avalon would determine the fair value by using quoted market prices, if available, for such assets; or if quoted market prices are not available, Avalon would discount the expected estimated future cash flows. 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 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 amount within the range appears to be a better estimate than any other, Avalon provides for the minimum amount within the range, in accordance with generally accepted accounting principles. The liability is recognized on an undiscounted basis. Avalon’s estimates are revised, as deemed necessary, as additional information becomes known. Although Avalon is not currently aware of any environmental liability, there can be no assurance that in the future an environmental liability will not occur. Basic and Diluted Net Loss per Share Basic net loss per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing the net loss attributable to Avalon Holdings Corporation common shareholders by the weighted average number of common shares outstanding. Diluted net loss per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing net loss attributable to Avalon Holdings Corporation shareholders 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. Any 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 8). |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 3. Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures, In December 2023, The FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, |
Note 4 - Cash, Cash Equivalents
Note 4 - Cash, Cash Equivalents and Restricted Cash | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 4. Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents for purposes of the Consolidated Balance Sheets. Avalon maintains its cash balances in various financial institutions. These balances may, at times, exceed federal insured limits. Avalon has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk relating to its cash and cash equivalents. 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 the Avalon Field Club at New Castle in accordance with the provisions of the loan and security agreement (See Note 9). 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, 2023 and 2022 (in thousands): 2023 2022 Cash and cash equivalents $ 1,187 $ 1,624 Restricted cash 10,265 10,426 Total cash, cash equivalents and restricted cash $ 11,452 $ 12,050 |
Note 5 - Revenues
Note 5 - Revenues | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 5. Revenues 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 as the Company is a pass-through conduit for collecting and remitting sales taxes. The Company does not incur incremental costs to obtain contracts or costs to fulfill contracts that meet the criteria for capitalization. In addition, the Company does not have material significant payment terms as payment is received at or shortly after the point of sale. 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 captive disposal facility located in Ohio. The net operating revenues of the captive landfill operations are almost entirely dependent upon the volume of waste generated by the owner of the landfill for whom Avalon manages the facility. Avalon is a minority owner with managerial control over two no For the years ended December 31, 2023 and 2022, the net operating revenues related to waste management services represented approximately 55% and 61%, respectively, of Avalon’s total consolidated net operating revenues. For the year ended December 31, 2023, one two 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 have any financing arrangements with its customers. The term between invoicing and when payment is due is not significant. The Company assesses each contract amendment individually. Typically, amendments made to our contracts do not materially change the terms of the agreement or performance obligation of the Company. The Company accounts for such contract amendments as if it were part of the existing contract as the material terms contained in the contract do not change. In cases where Avalon views there is a material change in the terms of the agreement, the Company will reevaluate and determine if the contract should be viewed as an entirely new contract, replacement contract or a continuation of the existing contract. Consideration promised in our waste management contracts do not typically include material variable amounts such as discounts, rebates, refunds, credits, price concessions, incentives, penalties or other such items, and, as such, no estimate is made by the Company for such items. Golf and Related Operations Avalon’s golf and related operations include the operation and management of four For the years ended December 31, 2023 and 2022, the net operating revenues related to the golf and related operations represented approximately 45% and 39%, respectively, of Avalon’s total consolidated net operating revenues. For both the years ended December 31, 2023 and 2022, no one customer individually accounted for 10% or more of Avalon’s golf and related operations segment revenues. 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 Membership for the Avalon Golf and Country Club does not contain up-front initiation fees or require monthly minimum spending at the facilities. Annual membership dues do not cover the cost of food, beverage or any other ancillary paid services which are made available to the member nor do they typically provide for discounts on these goods or services. Members have no obligation to purchase or utilize any of these additional goods or services. Avalon is not required to provide such goods or services unless requested and paid for at the point of sale by the member. 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 year or less as Avalon Golf and Country Club membership agreements are one year in length. 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 distinct within the context of the contract as they are all highly dependent and interrelated as part of the obligation to provide the lodging facility. Room sales are driven by a fixed fee charged to a hotel guest to stay at The Grand Resort for an agreed upon period. The Company agrees to provide a room to the hotel guest for a specified time period for that agreed-upon rate. Our hotel room reservations are performance obligations satisfied over time as the hotel guest simultaneously receives and consumes the benefits provided by the hotel. For performance obligations satisfied over time, our hotel operations measure the progress toward complete satisfaction of the performance obligation and recognize revenue proportionately over the course of the customer’s stay. 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, 2023 and 2022 (in thousands). Sales and other taxes are excluded from revenues. 2023 2022 Waste management and brokerage services $ 41,578 $ 47,138 Captive landfill management operations 3,033 2,625 Total waste management services revenues 44,611 49,763 Food, beverage and merchandise sales 13,491 12,137 Membership dues revenue 7,341 7,092 Room rental revenue 6,435 5,507 Greens fees and cart rental revenue 3,300 2,871 Salon and spa services 2,989 1,830 Fitness and tennis lesson revenue 394 435 Other revenue 1,954 1,545 Total golf and related operations revenue 35,904 31,417 Total net operating revenues $ 80,515 $ 81,180 Avalon does not have operations located outside the United States and, accordingly, geographical revenue information is not presented. 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, 2023 and 2022, accounts receivable, net, related to our waste management services segment were approximately $8.4 million and $10.0 million, respectively. At December 31, 2023 no one customer accounted for 10% or more of the waste management service’s segment or consolidated net receivables. At December 31, 2022, one The Company maintains an allowance for credit losses to provide for the estimated amount of receivables that will not be collected. Customer accounts that are outstanding longer than the contractual payment terms are considered past due. Avalon determines its allowance by considering a number of factors, including the length of time trade accounts receivable are past due, Avalon’s previous accounts receivable loss history, the customer’s current ability to pay its obligation to Avalon and the condition of the general economy and the industry as a whole. Avalon writes off accounts receivable when they become uncollectible. Payments subsequently received on such receivables are credited to the allowance for credit losses, or to income, as appropriate under the circumstances. Allowance for credit losses was approximately $0.3 million at both December 31, 2023 and 2022. The following table presents changes in our allowance for credit losses during the years ended at December 31, 2023 and 2022 (in thousands): Provision Write-offs Balance at for Credit less Balance at Beginning of Period Losses Recoveries End of Period Allowance for credit losses Year ended December 31, 2023 $ 260 $ 56 $ (56 ) $ 260 Year ended December 31, 2022 $ 265 $ 32 $ (37 ) $ 260 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, 2023 and 2022, respectively. The following table presents changes in our contract assets during the years ended December 31, 2023 and 2022 (in thousands): Unbilled Balance at Membership Balance at Beginning of Period Dues Billings End of Period Contract Assets: Unbilled membership dues receivable Year ended December 31, 2023 $ 599 $ 1,892 $ (1,924 ) $ 567 Year ended December 31, 2022 $ 578 $ 2,060 $ (2,039 ) $ 599 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 and $3.6 million at December 31, 2023 and 2022, respectively. Customer advance deposits are recorded as a liability until the goods or services are provided to the customer. Generally, customer advances, and corresponding performance obligation are satisfied within 12 months of the date of receipt of advance payment. The unrecognized revenues related to customer advance deposits are recorded in “Other liabilities and accrued expenses” in our Consolidated Balance Sheets. Customer advance deposits were approximately $1.2 million and $1.0 million at December 31, 2023 and 2022, respectively. The following table presents changes in our contract liabilities during the years ended December 31, 2023 and 2022 (in thousands): Balance at Revenue Balance at Beginning of Period Billings Recognized End of Period Contract Liabilities: Deferred membership dues revenue Year ended December 31, 2023 $ 3,643 $ 7,141 $ (7,341 ) $ 3,443 Year ended December 31, 2022 $ 3,363 $ 7,372 $ (7,092 ) $ 3,643 Customer advance deposits Year ended December 31, 2023 $ 965 $ 3,030 $ (2,772 ) $ 1,223 Year ended December 31, 2022 $ 795 $ 3,038 $ (2,868 ) $ 965 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6. Property and Equipment Property and equipment at December 31, 2023 and 2022 consists of the following (in thousands): 2023 2022 Land and land improvements $ 17,052 $ 16,764 Buildings and improvements 54,171 52,974 Machinery and equipment 9,490 8,567 Office furniture and fixtures 10,346 9,638 Vehicles 976 865 Construction in progress 10 11 92,045 88,819 Less accumulated depreciation and amortization (35,415 ) (32,014 ) Property and equipment, net $ 56,630 $ 56,805 At December 31, 2023, the Company did not have any significant fixed contractual commitments for construction projects. |
Note 7 - Leases
Note 7 - Leases | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Lessee, Operating and Financing Leases [Text Block] | Note 7. Leases Operating Leases Avalon leases golf carts and associated GPS equipment, 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 5.0 years. The weighted average remaining lease term on operating leases was approximately 3.4 years at December 31, 2023. During 2023, the Company entered into new operating lease agreements for golf carts, GPS equipment and office printers. The Company recorded operating lease right-of-use assets and corresponding obligations under the operating leases of approximately $0.3 million. During 2022, the Company entered into new operating lease agreements for a facility, vehicle, golf carts and associated GPS equipment. The Company recorded operating lease right-of-use assets and corresponding obligations under the operating leases of approximately $0.4 million. Leased property and associated obligations under operating leases at December 31, 2023 and 2022 consists of the following (in thousands): 2023 2022 Operating lease right-of-use assets $ 1,270 $ 1,386 Current portion of obligations under operating leases $ 432 $ 424 Long-term portion of obligations under operating leases 838 962 Total obligations under operating leases $ 1,270 $ 1,386 The weighted average discount rate on operating leases was 5.9% at December 31, 2023 and 5.0% at December 31, 2022. Finance Leases In November 2003, Avalon entered into a long-term agreement with Squaw Creek Country Club to lease and operate its golf course and related facilities. The lease has an initial term of ten four ten In addition, the Company also entered into lease agreements for vehicles, golf course maintenance and restaurant equipment which were determined to be finance leases. At December 31, 2023, the vehicles, golf course maintenance and restaurant equipment have remaining lease terms ranging from less than one Leased property and associated obligations under finance leases at December 31, 2023 and 2022 consist of the following (in thousands): 2023 2022 Leased property under finance leases $ 13,131 $ 12,004 Less accumulated amortization (7,420 ) (7,003 ) Leased property under finace leases, net $ 5,711 $ 5,001 Current portion of obligations under finance leases $ 198 $ 115 Long-term portion of obligations under finance leases 598 381 Total obligations under finance leases $ 796 $ 496 The weighted average discount rate on finance leases was 6.3% at December 31, 2023 and 5.2% at December 31, 2022. For the years ended December 31, 2023 and 2022, components of lease expense were as follows (in thousands): 2023 2022 Operating lease cost: Rental expense $ 736 $ 766 Finance lease cost: Depreciation expense $ 498 $ 511 Interest expense 33 28 Total finance lease cost $ 531 $ 539 For the twelve months ending December 31, future commitments under long-term, operating and finance leases are as follows (in thousands): Finance Operating Total 2024 $ 246 $ 502 $ 748 2025 181 440 621 2026 156 262 418 2027 106 165 271 2028 69 61 130 Thereafter 359 - 359 Total lease payments 1,117 1,430 2,547 Less imputed interest 321 160 481 Total 796 1,270 2,066 Less current portion of obligations under leases 198 432 630 Long-term portion of obligations under leases $ 598 $ 838 $ 1,436 |
Note 8 - Basic and Diluted Net
Note 8 - Basic and Diluted Net Income Per Share | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 8. Basic and Diluted Net Loss per Share Basic net loss per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing the net loss attributable to Avalon Holdings Corporation common shareholders by the weighted average number of common shares outstanding. For both the years ended December 31, 2023 and 2022, the weighted average number of common shares outstanding was 3,899,431. Diluted net loss per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing net loss attributable to Avalon Holdings Corporation common shareholders 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. Any 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 year ended December 31, 2023 there was no outstanding options, therefore, no The loss per share calculations for the years ended December 31, 2023 and 2022 are as follows (in thousands, except per share amounts): 2023 2022 Net loss attributable to Avalon Holdings Corporation common shareholders $ (1,775 ) $ (583 ) Shares used in computing basic loss per share 3,899 3,899 Loss per share attributable to Avalon Holdings Corporation common shareholders Basic net loss per share $ (0.46 ) $ (0.15 ) |
Note 9 - Term Loans and Line of
Note 9 - Term Loans and Line of Credit Agreements | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 9. Term Loans and Line of Credit Agreements 2022 Term Loan Agreement On August 5, 2022, Avalon and certain direct and indirect wholly owned subsidiaries entered into a loan and security agreement (the “2022 Term Loan Agreement”) with Laurel Capital Corporation which provided for a $31.0 million term loan. At closing, $20.2 million of the proceeds were used to pay off and refinance amounts outstanding and associated interest under our 2019 Term Loan Agreement with Laurel Capital Corporation and $0.4 million of the proceeds were utilized to pay transaction costs. The remaining proceeds of approximately $10.4 million were deposited into a project fund account for which those proceeds are to fund future costs of renovating and expanding both The Grand Resort and the Avalon Field Club at New Castle. At December 31, 2023 and 2022 the balance of “Restricted Cash” is $10.3 million and $10.4 million, respectively, and presented in the Consolidated Balance Sheets. The monies are earning nominal interest. The 2019 Term Loan Agreement was terminated in conjunction with the 2022 Term Loan Agreement. The 2022 Term Loan Agreement is payable in 119 equal monthly installments of principal and interest , twenty-five Avalon has the right to prepay the amount outstanding under the 2022 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 six percent ( 6 4 3 2 Borrowings under the 2022 Term Loan Agreement are secured by certain real property and related business assets as defined in the agreement. The 2022 Term Loan Agreement contains a Fixed Charge Coverage Ratio requirement of at least 1.20 tested on an annual basis on December 31 of each year, commencing December 31, 2023. The 2022 Term Loan also contains other nonfinancial covenants, customary representations, warranties and events of default. Avalon was in compliance with the 2022 Term Loan Agreement covenants at December 31, 2023. The Company capitalized approximately $0.6 million of debt issuance costs in connection with the 2022 Term Loan Agreement in accordance with ASC Subtopic 470-50, Debt-Modifications and Extinguishments Simplifying the Presentation of Debt Issuance Costs Line of Credit Agreement On May 31, 2018, Avalon entered into a business loan agreement with Premier Bank (formerly Home Savings Bank), (the “Line of Credit Agreement”) which provides for a line of credit of up to $5.0 million. On September 18, 2023, the Company amended the Line of Credit Agreement to extend the maturity date to July 31, 2025. Under the Line of Credit Agreement, borrowings in excess of $1.0 million are subject to a borrowing base which is calculated based off a specific level of eligible accounts receivable of the waste management business as defined in the agreement. At December 31, 2023 and 2022, approximately $3.2 million and $1.6 million, respectively, were outstanding on the line of credit. At December 31, 2023 and 2022, approximately $1.8 million and $3.4 million, respectively, were available under the Line of Credit Agreement. Outstanding borrowings under the Line of Credit Agreement bear interest at Prime Rate plus .25 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 of each year. The Line of Credit Agreement also contains other nonfinancial covenants, customary representations, warranties and events of default. Avalon was in compliance with the Line of Credit Agreements covenants at December 31, 2023 and 2022. During the years ended December 31, 2023 and 2022, the weighted average interest rate on outstanding borrowings was 6.17% and 5.50%, respectively. Obligations under the Company’s term loan agreements at December 31, 2023 and 2022 consist of the following (in thousands): December 31, 2023 Gross Amount Debt Issuance Costs Net Amount 2022 Term Loan Agreement $ 30,257 $ (499 ) $ 29,758 Less current portion 598 (60 ) 538 Long-term debt $ 29,659 $ (439 ) $ 29,220 December 31, 2022 Gross Amount Debt Issuance Costs Net Amount 2022 Term Loan Agreement $ 30,820 $ (559 ) $ 30,261 Less current portion 563 (60 ) 503 Long-term debt $ 30,257 $ (499 ) $ 29,758 Obligations under the Company’s Line of Credit agreement at December 31, 2023 and 2022 were approximately $3.2 million and $1.6 million, respectively, which matures on July 31, 2025. For the twelve months ending December 31, future maturities under the Company’s 2023 Term Loan and Line of Credit Agreements are as follows (in thousands): 2024 $ 598 2025 3,835 2026 674 2027 715 2028 759 Thereafter 26,876 Total $ 33,457 |
Note 10 - Income Taxes
Note 10 - Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 10. Income Taxes Income before income taxes for each of the two years in the period ended December 31, 2023 was subject to taxation under United States jurisdictions only. The provision for income taxes consists of the following (in thousands): 2023 2022 Current: Federal $ (3 ) $ (2 ) State 60 96 Total current income taxes 57 94 Deferred: Federal - - State - - Total deferred income taxes - - Total provision for income taxes $ 57 $ 94 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31, 2023 and 2022 are as follows (in thousands): 2023 2022 Deferred tax assets: Accounts receivable, allowance for doubtful accounts $ 63 $ 65 Reserves not deductible until paid 6 7 Net operating loss carryforwards Federal 2,030 2,081 State 579 494 Federal tax credit 1,261 1,041 Operating lease liabilities 337 345 Section 163(j) business interest expense carryforward 682 269 Other 22 37 Gross deferred tax assets 4,980 4,339 Less valuation allowance (2,965 ) (2,488 ) Deferred tax assets net of valuation allowance $ 2,015 $ 1,851 Deferred tax liabilities: Property and equipment $ (1,670 ) $ (1,498 ) Operating lease right of use assets (337 ) (345 ) Gross deferred tax liabilities $ (2,007 ) $ (1,843 ) Net deferred tax asset $ 8 $ 8 The $2.0 million 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 $2.0 million of deferred tax assets. Avalon has not provided a valuation allowance on the amount of deferred tax assets that it estimates will be utilized. If future taxable income is less than the amount that has been assumed in assessing the recoverability of the deferred tax assets, then an increase in the valuation allowance will be required, with a corresponding increase to income tax expense. Likewise, should Avalon ascertain in the future that it is more likely than not that deferred tax assets will be realized in excess of the net deferred tax assets, all or a portion of the $3.0 million valuation allowance as of December 31, 2023, would be reversed as a benefit to the provision for income taxes in the period such determination was made. 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 for each of the two years ended December 31, 2023 and 2022 (in thousands): 2023 2022 Loss before income taxes $ (1,987 ) $ (886 ) Less net loss attributable to non-controlling interest in subsidiary (269 ) (397 ) Loss before income taxes attributable to Avalon Holdings Corporation common shareholders (1,718 ) (489 ) Federal statutory rate 21 % 21 % Computed Federal provision (benefit) for income taxes (361 ) (103 ) State income taxes, net of federal income tax benefits 47 76 Change in valuation allowance 477 137 Increase in available federal tax credit (185 ) (164 ) Other nondeductible expenses 41 39 Adjustment to deferred tax balances 38 109 Total provision for income taxes $ 57 $ 94 Avalon is subject to income taxes in the U.S. federal and various states jurisdictions. With few exceptions, Avalon is no longer subject to U.S. federal, state and local income tax examinations by taxing authorities for the years before 2020 no Avalon made net income tax payments of approximately $0.2 million and $0.1 million in 2023 and 2022, respectively. At December 31, 2023, Avalon has taxable loss carryforwards for federal income tax purposes aggregating approximately $9.7 million which are available to offset future federal taxable income. Legislation under the Tax Act allows for corporations to carryforward net operating losses generated beginning in 2018 indefinitely. Net operating losses generated in 2018 may offset 80% of future taxable income. Of the $9.7 million taxable loss carryforwards, $2.1 million is carryforward indefinitely to offset 80% of future taxable income. Net operating losses generated prior to 2018 expire in 2024 through 2037. In addition, at December 31, 2023, certain subsidiaries of Avalon have net operating loss carryforwards for state purposes of approximately $14.7 million which are available to offset future state taxable income. These carryforwards expire at various dates through 2042. A valuation allowance has been provided because it is more likely than not that the deferred tax assets relating to certain federal and state loss carryforwards will not be realized. |
Note 11 - Retirement Benefits
Note 11 - Retirement Benefits | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | Note 11. Retirement Benefits Avalon sponsors a defined contribution profit sharing plan that is a qualified tax deferred benefit plan under Section 401(k) of the Internal Revenue Code (the “Plan”). Substantially all employees are eligible to participate in the Plan. The Plan provides for employer discretionary cash contributions as determined by Avalon’s Board of Directors. Discretionary contributions vest on a graduated basis and become 100% vested after five not |
Note 12 - Long-term Incentive P
Note 12 - Long-term Incentive Plan | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 12. Long-Term Incentive Plan On April 25, 2019, at the Annual Meeting of Shareholders, the shareholders approved the Long-term Incentive Plan “The Plan.” The Plan provides for the granting of options which are intended to be non-qualified stock options (“NQSO’s”) for federal income tax purposes except for those options designated as incentive stock options (“ISO’s”) which qualify under Section 422 of the Internal Revenue Code. The Plan has 1,300,000 shares of Class A Common Stock available for stock options to employees and non-employee directors. Shares of stock covered by options granted pursuant to The Plan which terminate or expire prior to exercise or have been surrendered or canceled shall be available for further option grants under the Option Plan. The purpose of The Plan is (a) to improve individual employee performance by providing long-term incentives and rewards to employees of Avalon, (b) to assist Avalon in attracting, retaining and motivating employees and non-employee directors with experience and ability, and (c) to associate the interests of such employees and directors with those of the Avalon shareholders. NQSO’s may be granted with an exercise price which is not less than 100% of the fair market value of the Class A Common Stock on the date of grant. Options designated as ISO’s shall not be less than 110% of fair market value for employees who are ten percent shareholders and not less than 100% of fair market value for other employees. The Board of Directors may, from time to time in its discretion, grant options to one or more outside directors, subject to such terms and conditions as the Board of Directors may determine, provided that such terms and conditions are not inconsistent with other applicable provisions of the Option Plan. Options shall have a term of no longer than ten five No option shall be exercisable prior to one The stock options, vest ratably over a five ten three 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 minimum considerations; 1) the exercise price of the option, 2) the expected term of the option, taking into account both the contractual term of the option, the effects of employees’ expected exercise and post-vesting employment termination behavior, as well as the possibility of change in control events during the contractual term of the option agreements, 3) the current fair value of the underlying equity, 4) the expected volatility of the value of the underlying share for the expected term of the option, 5) the expected dividends on the underlying share for the expected term of the option and 6) the risk-free interest rate(s) for the expected term of the option. 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 based on historical exercising behavior of previous option holders of a company’s stock. Because of the nature of the vesting described above, the options are separated into five blocks, with each block having its own vesting period and expected term. For stock option awards, the expected volatility is based on the observed historical volatility of Avalon common stock. There were no In March 2023, options to purchase 36,000 shares previously granted were cancelled as the options did not meet the predetermined stock price within the three years following the contractual vesting period. Additionally, in May 2023, the remaining 18,000 shares previously granted expired. The following table is a summary of the stock option activity during 2023 and 2022: Weighted Weighted Number of Average Average Options Exercise Fair Value at Granted Price Grant Date Outstanding at January 1, 2022 54,000 $ 1.83 $ 0.43 Options granted - - - Options exercised - - - Options expired - - - Options cancelled or forfeited - - - Outstanding at December 31, 2022 54,000 1.83 0.43 Options granted - - - Options exercised - - - Options expired - - - Options cancelled or forfeited (54,000 ) 1.83 0.43 Outstanding at December 31, 2023 - $ - $ - The stock options vest and become exercisable based upon achieving two critical metrics as follows: 1) Contract Vesting Term: The stock options vest ratably over a five year period. 2) The Avalon common stock price traded on a public stock exchange (NYSE Amex) must reach the predetermined vesting price within three years after the options become vested under the contractual vesting term. 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 Compensation costs were approximately $1,000 and $4,000 for the years ended December 31, 2023 and 2022, respectively, based upon the estimated grant date fair value calculations. As of December 31, 2023, there were no |
Note 13 - Shareholders' Equity
Note 13 - Shareholders' Equity | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 13. Shareholders Equity Each share of Class A Common Stock is entitled to one ten Each share of Class B Common Stock is convertible, at any time, at the option of the shareholder, into one |
Note 14 - Legal Matters
Note 14 - Legal Matters | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | Note 14. Legal Matters 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 result in fines, penalties or judgments being assessed against Avalon which, from time to time, may have an impact on its business and financial condition. Although the outcome of such lawsuits or other proceedings cannot be predicted with certainty, Avalon does not believe that any uninsured ultimate liabilities, fines or penalties resulting from such pending proceedings, individually or in the aggregate, would have a material adverse effect on its liquidity, financial position or results of operations (See Note 17). |
Note 15 - Business Segment Info
Note 15 - Business Segment Information | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 15. Business Segment Information 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 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 golf courses and associated clubhouses which provide dining and banquet facilities, a hotel which provides lodging and resort related amenities including dining, banquet and conference facilities, and a multipurpose recreation center. Revenue for the golf and related operations segment consists primarily of membership dues, greens fees, cart rentals, room rentals, merchandise sales, tennis and fitness activities, salon and spa services and food and beverage sales. Avalon does not have operations located outside the United States and, accordingly, geographical segment information is not presented. In 2023, one two 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). Avalon measures segment profit for internal reporting purposes as income (loss) before taxes. Business segment information including the reconciliation of segment loss to consolidated income before income taxes is as follows (in thousands): Year Ended December 31, 2023 2022 Net operating revenues from: Waste management services: External customer revenues $ 44,611 $ 49,763 Total waste management services 44,611 49,763 Golf and related operations: External customer revenues 35,904 31,417 Intersegment revenues 80 80 Total golf and related operations 35,984 31,497 Segment operating revenues 80,595 81,260 Intersegment eliminations (80 ) (80 ) Total net operating revenues $ 80,515 $ 81,180 Income (loss) before income taxes: Waste management services $ 4,013 $ 4,373 Golf and related operations (184 ) 151 Segment income before taxes 3,829 4,524 Corporate interest expense (2,068 ) (1,436 ) Corporate other income, net 9 13 General corporate expenses (3,757 ) (3,987 ) Loss before income taxes $ (1,987 ) $ (886 ) Depreciation and amortization expense: Waste management services $ 109 $ 118 Golf and related operations 3,464 3,169 Corporate 253 196 Total depreciation and amortization expense $ 3,826 $ 3,483 Interest expense: Waste management services $ - $ 1 Golf and related operations 30 27 Corporate 2,068 1,436 Total interest expense $ 2,098 $ 1,464 Year Ended December 31, 2023 2022 Capital expenditures: Waste management services $ 205 $ 94 Golf and related operations 3,620 6,333 Corporate 93 134 Total capital expenditures $ 3,918 $ 6,561 Total assets: Waste management services $ 35,839 $ 35,198 Golf and related operations 63,670 63,355 Corporate 65,453 65,630 Subtotal 164,962 164,183 Elimination of intersegment receivables (76,997 ) (74,433 ) Total assets $ 87,965 $ 89,750 In comparing total assets at December 31, 2023 with those at December 31, 2022, the increase in the total assets of the waste management services segment of approximately $0.6 million was primarily a result of an increase in intersegment accounts receivable. The increase in total assets of the golf and related operations segment of $0.3 million was primarily due to an increase in capital expenditures associated with The Grand Resort and the Avalon Field Club at New Castle partially offset by current year depreciation on property and equipment. The decrease in corporate total assets of approximately $0.2 million was primarily due to a decrease in restricted cash received in conjunction with our 2022 Term Loan Agreement. |
Note 16 - Certain Relationships
Note 16 - Certain Relationships and Related Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 16. Certain Relationships and Related Transactions AWMS Holdings, LLC In August 2013, Avalon created a new Ohio limited liability company, AWMS Holdings, LLC, to act as a holding company to form and own a series of wholly owned subsidiaries that will own and operate Class II salt water injection wells and facilities (together the “facilities”). AWMS Holdings, LLC, offers investment opportunities to accredited investors by selling membership units of AWMS Holdings, LLC through private placement offerings. The monies received from these offerings, along with internally contributed capital, are used to construct the facilities necessary for the operation of salt water injection wells. AWMS Water Solutions, LLC, a wholly owned subsidiary of Avalon, manages all the salt water injection well operations, including the marketing and sales function and all decisions regarding the well operations for a percentage of the gross revenues. In 2014 and 2013, Avalon, through a wholly owned subsidiary made capital contributions totaling approximately $3.4 million, which included cash and certain well assets, including the permits, in exchange for membership units of AWMS Holdings, LLC. Through a private placement offering for the purchase of membership units, AWMS Holdings, LLC raised approximately $3.8 million from accredited investors in 2014 and 2013. Management and outside directors of Avalon, who qualified as accredited investors, invested approximately $1.0 million in AWMS Holdings, LLC. As a result of a private placement offering, Avalon is not the majority owner of AWMS Holdings, LLC. At December 31, 2023 and 2022, respectively, Avalon owns approximately 47% of AWMS Holdings, LLC. In accordance with ASC 810-10 and related amendment , Avalon Med Spa, LLC In March 2021, Avalon created a new Ohio limited liability company, Avalon Med Spa, LLC. Avalon Med Spa, LLC provides elective appearance improving nonsurgical aesthetic services under the supervision of a licensed physician. Avalon Med Spa, LLC, offers investment opportunities to accredited investors by selling membership units through private placement offerings. The monies received from these offerings, along with internally contributed capital, are used to purchase medical spa equipment and construct the facilities necessary for operation. Avalon operates and manages all decisions regarding the medical spa operations for a percentage of the gross revenues. In 2021, Avalon made a capital contribution totaling $359,000, which included cash and certain equipment, in exchange for membership units of Avalon Med Spa, LLC. Through a private placement offering for the purchase of membership units, Avalon Med Spa, LLC raised $358,000 from accredited investors in August 2021. In March 2022, Avalon and accredited investors made additional capital contributions of $143,000 and $142,000, respectively. An outside director of Avalon, who qualified as an accredited investor, invested less than 10% of the total investment in Avalon Med Spa, LLC. Avalon is the majority owner of Avalon Med Spa, LLC owning 50.1% of the company at both December 31, 2023 and 2022, respectively. In accordance with ASC 810-10 and related amendment , |
Note 17 - Injection Wells Suspe
Note 17 - Injection Wells Suspension | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Suspended Injection Well Costs Disclosure [Text Block] | Note 17. Injection Wells Suspension As a result of a seismic event with a magnitude of 2.1 occurring on August 31, 2014, the Chief of the Division of Oil and Gas Resources Management (“Chief” or “Division”) issued Orders on September 3, 2014 to immediately suspend all operations of Avalon’s two On September 5, 2014, Avalon submitted the information required by the Chief’s Order in regards to its AWMS #1 injection well, and the Chief lifted the suspension for that well on September 18, 2014. On September 19, 2014, Avalon submitted information and a written plan required by the Chief’s Order proposing the establishment of certain operations and management controls on injections for the AWMS #2 injection well. To date, the Division has not responded to that plan despite Avalon’s requests for feedback. On October 2, 2014, Avalon filed an appeal with the Ohio Oil and Gas Commission (the “Commission”) disputing the basis for suspending operations of AWMS #2 and also the authority of the Chief to immediately suspend such operations. On March 11, 2015, an appeal hearing was held. The Chief stated during the hearing that the suspension order is temporary, and he expects that AWMS #2 will be allowed to resume operations once the state’s final policymaking is complete. On August 12, 2015, the Commission upheld the temporary suspension of injection operations of AWMS #2 stating that the temporary suspension would allow the Chief more time to fully evaluate the facts in anticipation of the Division’s implementation of a comprehensive regulatory plan that will specifically address injection-induced seismicity. Avalon appealed that decision to the Franklin County Court of Common Pleas (the “Court”), and on November 1, 2016 an appeal hearing was held in that Court. On December 23, 2016, the Court issued its Decision and Order in Avalon’s favor, and vacated the Commission’s decision. The Court found that the Division’s suspension and refusal to work with the Company over the 26 month period was arbitrary and not in accordance with reason. Subsequent to the ruling, and in accordance with the Court’s Decision and Order, both Avalon and the Division submitted their proposed restart plans to the Court. Avalon’s plan sets forth both the initial volumes and pressures and increases in volume and pressure while continuously monitoring seismicity and addressing the concerns of public health and safety. On February 21, 2017, the Court issued its Final Decision and Order. The Court’s Final Decision and Order set forth conditions for restarting the AWMS #2 salt water injection well in accordance with the proposed restart plans filed by Avalon with minor revisions. On February 22, 2017, the Division appealed the Final Decision and Order and filed a Motion to Stay the Court Order. The Motion to Stay was granted by the Ohio 10 th On September 14, 2017, an appeal hearing was held in the Ohio 10 th On September 12, 2018, the Company appealed the Ohio 10 th th On April 5, 2019, Avalon filed with the Oil and Gas Commission a motion to vacate its prior decisions in this matter. The Oil and Gas Commission scheduled a hearing on this motion for August 13, 2019. Before the hearing began, and in response to the Division’s motion to dismiss the Company’s motion to vacate, the Commission dismissed the matter. The Company appealed that decision to the Franklin County Court of Common Pleas. In April 2020, the Division’s motion to dismiss and the Company’s opposition were reviewed by the Court. Following the restart orders received on May 24, 2021, and discussed below, the Court dismissed the complaint. 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 In addition, on August 26, 2016, Avalon filed a complaint in the 11 th On March 18, 2019, Avalon received notice that the 11 th th th On May 24, 2021, the Company received Chief’s Orders from the Division vacating the September 3, 2014 suspension orders for AWMS #2 and setting conditions for restart of that well. Among these conditions was a limit placed on the seismicity within three miles of the well. Under the Order, if a seismic event with a magnitude 2.1 or above occurs, the well must cease operations for an indefinite period of time until concurrence for subsequent restart is received from the Division. The Company appealed the May 2021 Chief’s Order to the Ohio Oil and Gas Commission, seeking reasonable operating conditions that will allow the facility to operate profitably while protecting human health and property. A hearing in this matter occurred in February 2022. On June 30, 2022, the Oil and Gas Commission rendered their decision for the Division in this matter, once again deferring to the Division in their decision. The Company appealed the decision to the Franklin County Ohio Court of Common Pleas on August 3, 2022. The company awaits a decision by the Court. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
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. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Accrued income taxes on the consolidated balance sheets and consolidated statement of cash flows for 2022 have been reclassified to conform to the presentation for 2023. Such reclassifications had no effect on changes in operations. |
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 months or less when purchased to be cash equivalents for purposes of the Consolidated Statements of Cash Flows and Consolidated Balance Sheets. Avalon maintains its cash balances in various financial institutions. These balances may, at times, exceed federal insured limits. Avalon has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk relating to its cash and cash equivalents (See Note 4). |
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 $10.3 million and $10.4 million at December 31, 2023 and 2022, respectively, consists of loan proceeds deposited into a project fund account to fund costs associated with the renovation and expansion of The Grand Resort and the Avalon Field Club at New Castle in accordance with the provisions of the loan and security agreement (See Notes 4 and 9). |
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 The fair value of the Company’s term loan approximates carrying value at December 31, 2023 and 2022, as neither the Company’s credit rating nor credit conditions have changed substantially since the debt was refinanced. |
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. Leasehold improvements are included in building improvements and amortized on a straight-line basis over the shorter of their estimated useful lives or the term of the lease (See Note 6). Major additions and improvements are charged to the property and equipment accounts while replacements, maintenance and repairs, which do not improve or extend the life of the respective asset, are expensed as incurred. The cost of assets retired or otherwise disposed of and the related accumulated depreciation is eliminated from the accounts in the year of disposal. Gains or losses resulting from disposals of property and equipment are recorded in “Other income, net” in our Consolidated Statements of Operations. |
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 (See Note 9). |
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 that such deferred tax assets will not be realized. Avalon recognizes any interest and penalty assessed by taxing authorities as a component of interest expense and other expense, respectively (see Note 10). The provisions of ASC 740, Income Taxes |
Revenue [Policy Text Block] | Revenue Recognition The Company recognizes revenue in accordance with FASB ASC 606, Revenue from Contracts with Customers |
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 required. The amounts due are stated at their net realizable value. The Company maintains an allowance for credit losses to provide for the estimated amount of receivables that will not be collected. Customer accounts that are outstanding longer than the contractual payment terms are considered past due. Avalon determines its allowance by considering a number of factors, including the length of time trade accounts receivable are past due, Avalon’s previous accounts receivable loss history, the customer’s current ability to pay its obligation to Avalon and the condition of the general economy and the industry as a whole. Avalon writes off accounts receivable when they become uncollectible. Payments subsequently received on such receivables are credited to the allowance for credit losses, or to income, as appropriate under the circumstances (See Note 5). |
Lessee, Leases [Policy Text Block] | Leases Avalon applies FASB Accounting Standards Update (“ASU”) 2016-02, Leases |
Equity Method Investments [Policy Text Block] | Non-controlling Interest Under FASB ASC 810-10, Consolidations Overall In accordance with ASC 810-10 , |
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 minimum considerations; 1) the exercise price of the option, 2) the expected term of the option, taking into account both the contractual term of the option, the effects of employees’ expected exercise and post-vesting employment termination behavior, as well as the possibility of change in control events during the contractual term of the option agreements, 3) the current fair value of the underlying equity, 4) the expected volatility of the value of the underlying share for the expected term of the option, 5) the expected dividends on the underlying share for the expected term of the option and 6) the risk-free interest rate(s) for the expected term of the option. 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 previously been amortized are recognized upon vesting (See Note 12). |
Asset Retirement Obligation [Policy Text Block] | Asset Retirement Obligation Avalon recorded an estimated asset retirement obligation of $0.1 million at December 31, 2023 and 2022, respectively, to plug and abandon the two salt water injection wells based upon an estimate from an experienced and qualified third party. |
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 be recoverable. If indicators of impairment exist, Avalon would determine whether the estimated undiscounted sum of the future cash flows of such assets and their eventual disposition is less than its carrying amount. If less, an impairment loss would be recognized if, and to the extent that the carrying amount of such assets exceeds their respective fair value. Avalon would determine the fair value by using quoted market prices, if available, for such assets; or if quoted market prices are not available, Avalon would discount the expected estimated future cash flows. 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 |
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 amount within the range appears to be a better estimate than any other, Avalon provides for the minimum amount within the range, in accordance with generally accepted accounting principles. The liability is recognized on an undiscounted basis. Avalon’s estimates are revised, as deemed necessary, as additional information becomes known. Although Avalon is not currently aware of any environmental liability, there can be no assurance that in the future an environmental liability will not occur. |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Net Loss per Share Basic net loss per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing the net loss attributable to Avalon Holdings Corporation common shareholders by the weighted average number of common shares outstanding. Diluted net loss per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing net loss attributable to Avalon Holdings Corporation shareholders 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. Any 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 8). |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
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, 2023 Allowance for credit losses $ 260 $ 56 $ - $ 56 (1) $ 260 Deferred tax asset valuation allowance $ 2,488 $ 477 (2) $ - $ - $ 2,965 Year ended December 31, 2022 Allowance for credit losses $ 265 $ 32 $ - $ 37 (1) $ 260 Deferred tax asset valuation allowance $ 2,351 $ 137 (2) $ - $ - $ 2,488 |
Note 4 - Cash, Cash Equivalen_2
Note 4 - Cash, Cash Equivalents and Restricted Cash (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block] | 2023 2022 Cash and cash equivalents $ 1,187 $ 1,624 Restricted cash 10,265 10,426 Total cash, cash equivalents and restricted cash $ 11,452 $ 12,050 |
Note 5 - Revenues (Tables)
Note 5 - Revenues (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | 2023 2022 Waste management and brokerage services $ 41,578 $ 47,138 Captive landfill management operations 3,033 2,625 Total waste management services revenues 44,611 49,763 Food, beverage and merchandise sales 13,491 12,137 Membership dues revenue 7,341 7,092 Room rental revenue 6,435 5,507 Greens fees and cart rental revenue 3,300 2,871 Salon and spa services 2,989 1,830 Fitness and tennis lesson revenue 394 435 Other revenue 1,954 1,545 Total golf and related operations revenue 35,904 31,417 Total net operating revenues $ 80,515 $ 81,180 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Provision Write-offs Balance at for Credit less Balance at Beginning of Period Losses Recoveries End of Period Allowance for credit losses Year ended December 31, 2023 $ 260 $ 56 $ (56 ) $ 260 Year ended December 31, 2022 $ 265 $ 32 $ (37 ) $ 260 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Unbilled Balance at Membership Balance at Beginning of Period Dues Billings End of Period Contract Assets: Unbilled membership dues receivable Year ended December 31, 2023 $ 599 $ 1,892 $ (1,924 ) $ 567 Year ended December 31, 2022 $ 578 $ 2,060 $ (2,039 ) $ 599 Balance at Revenue Balance at Beginning of Period Billings Recognized End of Period Contract Liabilities: Deferred membership dues revenue Year ended December 31, 2023 $ 3,643 $ 7,141 $ (7,341 ) $ 3,443 Year ended December 31, 2022 $ 3,363 $ 7,372 $ (7,092 ) $ 3,643 Customer advance deposits Year ended December 31, 2023 $ 965 $ 3,030 $ (2,772 ) $ 1,223 Year ended December 31, 2022 $ 795 $ 3,038 $ (2,868 ) $ 965 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2023 2022 Land and land improvements $ 17,052 $ 16,764 Buildings and improvements 54,171 52,974 Machinery and equipment 9,490 8,567 Office furniture and fixtures 10,346 9,638 Vehicles 976 865 Construction in progress 10 11 92,045 88,819 Less accumulated depreciation and amortization (35,415 ) (32,014 ) Property and equipment, net $ 56,630 $ 56,805 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Lessee, Operating Lease Assets and Liabilities [Table Text Block] | 2023 2022 Operating lease right-of-use assets $ 1,270 $ 1,386 Current portion of obligations under operating leases $ 432 $ 424 Long-term portion of obligations under operating leases 838 962 Total obligations under operating leases $ 1,270 $ 1,386 2023 2022 Leased property under finance leases $ 13,131 $ 12,004 Less accumulated amortization (7,420 ) (7,003 ) Leased property under finace leases, net $ 5,711 $ 5,001 Current portion of obligations under finance leases $ 198 $ 115 Long-term portion of obligations under finance leases 598 381 Total obligations under finance leases $ 796 $ 496 |
Lease, Cost [Table Text Block] | 2023 2022 Operating lease cost: Rental expense $ 736 $ 766 Finance lease cost: Depreciation expense $ 498 $ 511 Interest expense 33 28 Total finance lease cost $ 531 $ 539 |
Lease, Liability, Maturity [Table Text Block] | Finance Operating Total 2024 $ 246 $ 502 $ 748 2025 181 440 621 2026 156 262 418 2027 106 165 271 2028 69 61 130 Thereafter 359 - 359 Total lease payments 1,117 1,430 2,547 Less imputed interest 321 160 481 Total 796 1,270 2,066 Less current portion of obligations under leases 198 432 630 Long-term portion of obligations under leases $ 598 $ 838 $ 1,436 |
Note 8 - Basic and Diluted Ne_2
Note 8 - Basic and Diluted Net Income Per Share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2023 2022 Net loss attributable to Avalon Holdings Corporation common shareholders $ (1,775 ) $ (583 ) Shares used in computing basic loss per share 3,899 3,899 Loss per share attributable to Avalon Holdings Corporation common shareholders Basic net loss per share $ (0.46 ) $ (0.15 ) |
Note 9 - Term Loans and Line _2
Note 9 - Term Loans and Line of Credit Agreements (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | December 31, 2023 Gross Amount Debt Issuance Costs Net Amount 2022 Term Loan Agreement $ 30,257 $ (499 ) $ 29,758 Less current portion 598 (60 ) 538 Long-term debt $ 29,659 $ (439 ) $ 29,220 December 31, 2022 Gross Amount Debt Issuance Costs Net Amount 2022 Term Loan Agreement $ 30,820 $ (559 ) $ 30,261 Less current portion 563 (60 ) 503 Long-term debt $ 30,257 $ (499 ) $ 29,758 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | 2024 $ 598 2025 3,835 2026 674 2027 715 2028 759 Thereafter 26,876 Total $ 33,457 |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2023 2022 Current: Federal $ (3 ) $ (2 ) State 60 96 Total current income taxes 57 94 Deferred: Federal - - State - - Total deferred income taxes - - Total provision for income taxes $ 57 $ 94 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2023 2022 Deferred tax assets: Accounts receivable, allowance for doubtful accounts $ 63 $ 65 Reserves not deductible until paid 6 7 Net operating loss carryforwards Federal 2,030 2,081 State 579 494 Federal tax credit 1,261 1,041 Operating lease liabilities 337 345 Section 163(j) business interest expense carryforward 682 269 Other 22 37 Gross deferred tax assets 4,980 4,339 Less valuation allowance (2,965 ) (2,488 ) Deferred tax assets net of valuation allowance $ 2,015 $ 1,851 Deferred tax liabilities: Property and equipment $ (1,670 ) $ (1,498 ) Operating lease right of use assets (337 ) (345 ) Gross deferred tax liabilities $ (2,007 ) $ (1,843 ) Net deferred tax asset $ 8 $ 8 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2023 2022 Loss before income taxes $ (1,987 ) $ (886 ) Less net loss attributable to non-controlling interest in subsidiary (269 ) (397 ) Loss before income taxes attributable to Avalon Holdings Corporation common shareholders (1,718 ) (489 ) Federal statutory rate 21 % 21 % Computed Federal provision (benefit) for income taxes (361 ) (103 ) State income taxes, net of federal income tax benefits 47 76 Change in valuation allowance 477 137 Increase in available federal tax credit (185 ) (164 ) Other nondeductible expenses 41 39 Adjustment to deferred tax balances 38 109 Total provision for income taxes $ 57 $ 94 |
Note 12 - Long-term Incentive_2
Note 12 - Long-term Incentive Plan (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
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, 2022 54,000 $ 1.83 $ 0.43 Options granted - - - Options exercised - - - Options expired - - - Options cancelled or forfeited - - - Outstanding at December 31, 2022 54,000 1.83 0.43 Options granted - - - Options exercised - - - Options expired - - - Options cancelled or forfeited (54,000 ) 1.83 0.43 Outstanding at December 31, 2023 - $ - $ - |
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 15 - Business Segment In_2
Note 15 - Business Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2023 2022 Net operating revenues from: Waste management services: External customer revenues $ 44,611 $ 49,763 Total waste management services 44,611 49,763 Golf and related operations: External customer revenues 35,904 31,417 Intersegment revenues 80 80 Total golf and related operations 35,984 31,497 Segment operating revenues 80,595 81,260 Intersegment eliminations (80 ) (80 ) Total net operating revenues $ 80,515 $ 81,180 Income (loss) before income taxes: Waste management services $ 4,013 $ 4,373 Golf and related operations (184 ) 151 Segment income before taxes 3,829 4,524 Corporate interest expense (2,068 ) (1,436 ) Corporate other income, net 9 13 General corporate expenses (3,757 ) (3,987 ) Loss before income taxes $ (1,987 ) $ (886 ) Depreciation and amortization expense: Waste management services $ 109 $ 118 Golf and related operations 3,464 3,169 Corporate 253 196 Total depreciation and amortization expense $ 3,826 $ 3,483 Interest expense: Waste management services $ - $ 1 Golf and related operations 30 27 Corporate 2,068 1,436 Total interest expense $ 2,098 $ 1,464 Year Ended December 31, 2023 2022 Capital expenditures: Waste management services $ 205 $ 94 Golf and related operations 3,620 6,333 Corporate 93 134 Total capital expenditures $ 3,918 $ 6,561 Total assets: Waste management services $ 35,839 $ 35,198 Golf and related operations 63,670 63,355 Corporate 65,453 65,630 Subtotal 164,962 164,183 Elimination of intersegment receivables (76,997 ) (74,433 ) Total assets $ 87,965 $ 89,750 |
Schedule II - Valuation and Q_3
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Balance at Beginning of Year | $ 260 | $ 265 | |
Charged (Credited) to Costs and Expenses | 56 | 32 | |
Charged to Other Accounts | 0 | 0 | |
Deductions (Recoveries) | [1] | 56 | 37 |
Balance at End of Year | 260 | 260 | |
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | |||
Balance at Beginning of Year | 2,488 | 2,351 | |
Charged (Credited) to Costs and Expenses | [2] | 477 | 137 |
Charged to Other Accounts | 0 | 0 | |
Deductions (Recoveries) | 0 | 0 | |
Balance at End of Year | $ 2,965 | $ 2,488 | |
[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. |
Note 1 - Description of Busin_2
Note 1 - Description of Business (Details Textual) | 12 Months Ended |
Dec. 31, 2023 | |
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 | Dec. 31, 2023 | Dec. 31, 2022 |
Restricted Cash and Cash Equivalents, Noncurrent | $ 10,265 | $ 10,426 |
Asset Retirement Obligation | $ 100 | $ 100 |
Minimum [Member] | Land Improvements [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 10 years | |
Minimum [Member] | Building and Building Improvements [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |
Minimum [Member] | Furniture and Fixtures [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |
Maximum [Member] | Land Improvements [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 30 years | |
Maximum [Member] | Building and Building Improvements [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 50 years | |
Maximum [Member] | Furniture and Fixtures [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 10 years |
Note 4 - Cash, Cash Equivalen_3
Note 4 - Cash, Cash Equivalents and Restricted Cash - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents | $ 1,187 | $ 1,624 | |
Restricted cash | 10,265 | 10,426 | |
Cash, cash equivalents and restricted cash | $ 11,452 | $ 12,050 | $ 4,950 |
Note 5 - Revenues (Details Text
Note 5 - Revenues (Details Textual) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Sep. 03, 2014 | |
Number of Suspended Saltwater Injection Wells | 2 | 2 | ||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 80,515 | $ 81,180 | ||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 300 | 300 | ||
Contract with Customer, Asset, after Allowance for Credit Loss | 567 | 599 | $ 578 | |
Contract with Customer, Liability | $ 3,400 | $ 3,600 | ||
Customer Concentration Risk [Member] | Sales Revenue, Net to External Customers [Member] | Two Customers [Member] | ||||
Concentration Risk, Percentage | 12% | 22% | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Number of Major Customers | 2 | 1 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Customers [Member] | ||||
Concentration Risk, Percentage | 6% | 14% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member] | ||||
Concentration Risk, Percentage | 16% | |||
Waste Management Services [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 44,611 | $ 49,763 | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Percentage | 55% | 61% | ||
Accounts Receivable, after Allowance for Credit Loss | $ 8,400 | $ 10,000 | ||
Waste Management Services [Member] | Maximum [Member] | ||||
Contract Term (Year) | 1 year | |||
Waste Management Services [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net to External Customers [Member] | ||||
Number of Major Customers | 2 | 1 | ||
Waste Management Services [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net to External Customers [Member] | Two Customers [Member] | ||||
Concentration Risk, Percentage | 12% | |||
Waste Management Services [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net to External Customers [Member] | One Customer [Member] | ||||
Concentration Risk, Percentage | 22% | |||
Waste Management Services [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Customers [Member] | ||||
Concentration Risk, Percentage | 6% | |||
Waste Management Services [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member] | ||||
Concentration Risk, Percentage | 14% | |||
Waste Management Services [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||
Number of Major Customers | 1 | |||
Waste Management Services [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member] | ||||
Concentration Risk, Percentage | 18% | |||
Golf and Related Operations [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 35,984 | $ 31,497 | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Percentage | 45% | 39% | ||
Number of Golf Courses | 4 | |||
Accounts Receivable, after Allowance for Credit Loss | $ 1,100 | $ 1,100 | ||
Golf and Related Operations [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Membership Agreement, Term | 1 year | |||
Salt Water Injection Wells [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 0 | 0 | ||
Customer Advance Deposits [Member] | ||||
Contract with Customer, Liability | $ 1,223 | $ 965 | $ 795 |
Note 5 - Revenues - Disaggregat
Note 5 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 80,515 | $ 81,180 |
Operating Segments [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 80,595 | 81,260 |
Waste Management Services [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 44,611 | 49,763 |
Waste Management Services [Member] | Operating Segments [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 44,611 | 49,763 |
Waste Management Services [Member] | Waste Brokerage And Management Services Member | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 41,578 | 47,138 |
Waste Management Services [Member] | Captive Landfill Management Operations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,033 | 2,625 |
Golf and Related Operations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 35,984 | 31,497 |
Golf and Related Operations [Member] | Operating Segments [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 35,904 | 31,417 |
Golf and Related Operations [Member] | Food and Beverage [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 13,491 | 12,137 |
Golf and Related Operations [Member] | Membership Dues [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 7,341 | 7,092 |
Golf and Related Operations [Member] | Room Rental [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 6,435 | 5,507 |
Golf and Related Operations [Member] | Green Fees and Cart Rental [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,300 | 2,871 |
Golf and Related Operations [Member] | Salon and Spa Services [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,989 | 1,830 |
Golf and Related Operations [Member] | Fitness and Tennis Lesson [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 394 | 435 |
Golf and Related Operations [Member] | Other Revenue [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,954 | $ 1,545 |
Note 5 - Revenues - Allowance f
Note 5 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Balance | $ 260 | $ 265 |
Provision for losses on accounts receivable | 56 | 32 |
Write-offs | (56) | (37) |
Balance | $ 260 | $ 260 |
Note 5 - Revenues - Contract As
Note 5 - Revenues - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Balance | $ 599 | $ 578 |
Balance | 3,600 | |
Unbilled membership dues | 1,892 | 2,060 |
Billings | (1,924) | (2,039) |
Balance | 567 | 599 |
Balance | 3,400 | 3,600 |
Deferred Membership Dues [Member] | ||
Balance | 3,643 | 3,363 |
Billings | 7,141 | 7,372 |
Revenue Recognized | (7,341) | (7,092) |
Balance | 3,443 | 3,643 |
Customer Advance Deposits [Member] | ||
Balance | 965 | 795 |
Billings | 3,030 | 3,038 |
Revenue Recognized | (2,772) | (2,868) |
Balance | $ 1,223 | $ 965 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Property and equipment, gross | $ 92,045 | $ 88,819 |
Less accumulated depreciation and amortization | (35,415) | (32,014) |
Property and equipment, net | 56,630 | 56,805 |
Land and Land Improvements [Member] | ||
Property and equipment, gross | 17,052 | 16,764 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | 54,171 | 52,974 |
Machinery and Equipment [Member] | ||
Property and equipment, gross | 9,490 | 8,567 |
Office Equipment [Member] | ||
Property and equipment, gross | 10,346 | 9,638 |
Vehicles [Member] | ||
Property and equipment, gross | 976 | 865 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 10 | $ 11 |
Note 7 - Leases (Details Textua
Note 7 - Leases (Details Textual) | 1 Months Ended | ||
Nov. 30, 2003 | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Operating Lease, Weighted Average Remaining Lease Term | 3 years 4 months 24 days | ||
Operating Lease, Liability | $ 1,270,000 | $ 1,386,000 | |
Operating Lease, Weighted Average Discount Rate, Percent | 5.90% | 5% | |
Lessee, Finance Lease, Term of Contract | 10 years | ||
Number of Consecutive Renewal Term Options | 4 | ||
Lessee, Finance Lease, Renewal Term | 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 | 29 years 9 months 18 days | ||
Finance Lease, Weighted Average Remaining Lease Term | 3 years 4 months 24 days | ||
Finance Lease, Weighted Average Discount Rate, Percent | 6.30% | 5.20% | |
Lease for Golf Cart GPS Equipment [Member] | |||
Operating Lease, Liability | $ 300,000 | $ 400,000 | |
Minimum [Member] | |||
Lessee, Operating Lease, Remaining Lease Term | 1 year | ||
Minimum [Member] | Golf and Related Operations [Member] | |||
Lessee, Finance Lease, Remaining Lease Term | 1 year | ||
Maximum [Member] | |||
Lessee, Operating Lease, Remaining Lease Term | 5 years | ||
Maximum [Member] | Golf and Related Operations [Member] | |||
Lessee, Finance Lease, Remaining Lease Term | 4 years 8 months 12 days |
Note 7 - Leases - Operating Lea
Note 7 - Leases - Operating Leases Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Operating lease right-of-use assets | $ 1,270 | $ 1,386 |
Leased property under finance leases | 13,131 | 12,004 |
Current portion of obligations under operating leases | 432 | 424 |
Less accumulated amortization | (7,420) | (7,003) |
Long-term portion of obligations under operating leases | 838 | 962 |
Leased property under finace leases, net | 5,711 | 5,001 |
Total obligations under operating leases | 1,270 | 1,386 |
Current portion of obligations under finance leases | 198 | 115 |
Long-term portion of obligations under finance leases | 598 | 381 |
Total obligations under finance leases | $ 796 | $ 496 |
Note 7 - Leases - Lease Cost (D
Note 7 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Rental expense | $ 736 | $ 766 |
Depreciation expense | 498 | 511 |
Interest expense | 33 | 28 |
Total finance lease cost | $ 531 | $ 539 |
Note 7 - Leases - Future Commit
Note 7 - Leases - Future Commitments Under Long-term Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
2024, finance lease | $ 246 | |
2024, operating lease | 502 | |
2024 | 748 | |
2025, finance lease | 181 | |
2025, operating lease | 440 | |
2025 | 621 | |
2026, finance lease | 156 | |
2026, operating lease | 262 | |
2026 | 418 | |
2027, finance lease | 106 | |
2027, operating lease | 165 | |
2027 | 271 | |
2028, finance lease | 69 | |
2028, operating lease | 61 | |
2028 | 130 | |
Thereafter, finance lease | 359 | |
Thereafter, operating lease | 0 | |
Thereafter | 359 | |
Total lease payments, finance lease | 1,117 | |
Total lease payments, operating lease | 1,430 | |
Total lease payments | 2,547 | |
Less: imputed interest, finance lease | 321 | |
Less: imputed interest, operating lease | 160 | |
Less: imputed interest | 481 | |
Total, finance lease | 796 | $ 496 |
Operating Lease, Liability | 1,270 | 1,386 |
Total | 2,066 | |
Less: current portion of obligations under leases, finance lease | 198 | 115 |
Less: current portion of obligations under leases, operating lease | 432 | 424 |
Less: current portion of obligations under leases | 630 | |
Long-term portion of obligations under leases, finance lease | 598 | 381 |
Long-term portion of obligations under operating leases | 838 | $ 962 |
Long-term portion of obligations under leases | $ 1,436 |
Note 8 - Basic and Diluted Ne_3
Note 8 - Basic and Diluted Net Income Per Share (Details Textual) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Weighted Average Number of Shares Outstanding, Basic, Total (in shares) | 3,899,431 | 3,899,431 |
Weighted Average Number of Shares Outstanding, Assuming Dilution | 0 |
Note 8 - Basic and Diluted Ne_4
Note 8 - Basic and Diluted Net Income (Loss) Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net loss attributable to Avalon Holdings Corporation common shareholders | $ (1,775) | $ (583) |
Weighted average shares outstanding - basic (in shares) | 3,899,431 | 3,899,431 |
Loss per share attributable to Avalon Holdings Corporation common shareholders | ||
Basic net loss per share (in dollars per share) | $ (0.46) | $ (0.15) |
Note 9 - Term Loans and Line _3
Note 9 - Term Loans and Line of Credit Agreements (Details Textual) $ in Thousands | 12 Months Ended | ||||
Aug. 05, 2022 USD ($) | May 31, 2018 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jun. 30, 2023 USD ($) | |
Long-Term Debt, Gross | $ 33,457 | ||||
Payments of Debt Issuance Costs | $ 0 | $ 277 | |||
Long-Term Debt, Weighted Average Interest Rate, over Time | 6.17% | 5.50% | |||
New Term Loan Agreement [Member] | Laurel Capital Corporation [Member] | |||||
Long-Term Debt, Gross | $ 31,000 | ||||
Payments of Debt Issuance Costs | 400 | ||||
Proceeds from Issuance of Debt | $ 10,400 | ||||
Restricted Cash | $ 10,300 | ||||
Debt Instrument, Periodic Payment, Number of Payments | 119 | ||||
Debt Instrument, Maturity Schedule | 15 years | ||||
Debt Instrument, Interest Rate, Stated Percentage, First Five Years | 6% | ||||
Debt Instrument, Interest Rate, Minimum Stated Percentage, After Seven Years | 6% | ||||
Debt Instrument, Interest Rate, Maximum Stated Percentage, After Year Seven | 8.50% | ||||
Debt Instrument, Prepayment Penalty, Percentage, First Five Years | 6% | ||||
Debt Instrument, Prepayment Penalty, Percentage, Years Six and Seven | 4% | ||||
Debt Instrument, Prepayment Penalty, Percentage, Years Eight and Nine | 3% | ||||
Debt Instrument, Prepayment Penalty, Percentage, Year Ten | 2% | ||||
Debt Instrument, Covenant, Fixed Charge Coverage Ratio | 1.2 | ||||
Debt Issuance Costs, Net | $ 600 | ||||
New Term Loan Agreement [Member] | Laurel Capital Corporation [Member] | Three Day Treasury Rate Two Days Prior to Reset [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 3.40% | ||||
The 2019 Term Loan Agreement [Member] | Mercer County State Bank [Member] | |||||
Repayments of Debt | $ 20,200 | ||||
The Line of Credit Agreement [Member] | Home Savings Bank [Member] | |||||
Debt Instrument, Covenant, Fixed Charge Coverage Ratio | 1.2 | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000 | ||||
Line of Credit Facility, Amounts in Excess of, Subject to Borrowing Base | $ 1,000 | ||||
Proceeds from Lines of Credit, Total | $ 3,200 | 1,600 | $ 3,200 | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 1,800 | $ 3,400 | |||
Line of Credit Facility, Interest Rate at Period End | 8.75% | ||||
The Line of Credit Agreement [Member] | Home Savings Bank [Member] | Prime Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | 0.25% |
Note 9 - Term Loans and Line _4
Note 9 - Term Loans and Line of Credit Agreements - Summary of Term Loan and Line of Credit Agreements (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Long-term debt, gross | $ 33,457 | |
Less current portion of long-term debt, gross | 598 | $ 563 |
Less current portion debt issuance costs | (60) | (60) |
Current portion of long-term debt | 538 | 503 |
Long-term debt, gross, net of current portion | 29,659 | 30,257 |
Debt issuance costs, net of current portion | (439) | (499) |
Long-term debt | 29,220 | 29,758 |
Term Loan Agreement [Member] | ||
Long-term debt, gross | 30,257 | 30,820 |
Debt issuance costs | (499) | (559) |
Term Loan Agreement | $ 29,758 | $ 30,261 |
Note 9 - Term Loans and Line _5
Note 9 - Term Loans and Line of Credit Agreements - Future Maturities of Long-term Debt (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
2024 | $ 598 |
2025 | 3,835 |
2026 | 674 |
2027 | 715 |
2028 | 759 |
Thereafter | 26,876 |
Total | $ 33,457 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Deferred Tax Liabilities, Gross | $ 2,007 | $ 1,843 |
Deferred Tax Assets, Net of Valuation Allowance | 2,015 | 1,851 |
Deferred Tax Assets, Valuation Allowance | $ 2,965 | 2,488 |
Open Tax Year | 2020 2021 2022 2023 | |
Income Tax Examination, Penalties and Interest Accrued | $ 0 | 0 |
Income Taxes Paid, Net | 200 | $ 100 |
Operating Loss Carryforwards | 9,700 | |
Operating Loss Carryforwards, Not Subject to Expiration | 2,100 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards | $ 14,700 |
Note 10 - Income Taxes - Provis
Note 10 - Income Taxes - Provision For Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Current: | ||
Federal | $ (3) | $ (2) |
State | 60 | 96 |
Total current income taxes | 57 | 94 |
Deferred: | ||
Federal | 0 | 0 |
State | 0 | 0 |
Total deferred income taxes | 0 | 0 |
Total provision for income taxes | $ 57 | $ 94 |
Note 10 - Income Taxes - Deferr
Note 10 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Deferred tax assets: | ||
Accounts receivable, allowance for doubtful accounts | $ 63 | $ 65 |
Reserves not deductible until paid | 6 | 7 |
Federal | 2,030 | 2,081 |
State | 579 | 494 |
Federal tax credit | 1,261 | 1,041 |
Operating lease liabilities | 337 | 345 |
Section 163(j) business interest expense carryforward | 682 | 269 |
Other | 22 | 37 |
Gross deferred tax assets | 4,980 | 4,339 |
Less valuation allowance | (2,965) | (2,488) |
Deferred tax assets net of valuation allowance | 2,015 | 1,851 |
Deferred tax liabilities: | ||
Property and equipment | (1,670) | (1,498) |
Operating lease right of use assets | (337) | (345) |
Gross deferred tax liabilities | (2,007) | (1,843) |
Net deferred tax asset | $ 8 | $ 8 |
Noe 10 - Income Taxes - Provisi
Noe 10 - Income Taxes - Provision For Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Loss before income taxes | $ (1,987) | $ (886) |
Less net loss attributable to non-controlling interest in subsidiary | (269) | (397) |
Avalon Holdings Corporation common shareholders | $ (1,718) | $ (489) |
Federal statutory rate | 21% | 21% |
Computed Federal provision (benefit) for income taxes | $ (361) | $ (103) |
State income taxes, net of federal income tax benefits | 47 | 76 |
Change in valuation allowance | 477 | 137 |
Increase in available federal tax credit | (185) | (164) |
Other nondeductible expenses | 41 | 39 |
Adjustment to deferred tax balances | 38 | 109 |
Total provision for income taxes | $ 57 | $ 94 |
Note 11 - Retirement Benefits (
Note 11 - Retirement Benefits (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 100% | |
Defined Contribution Plan, Employers Matching Contribution, Requisite Service Period (Year) | 5 years | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | $ 0 |
Note 12 - Long-term Incentive_3
Note 12 - Long-term Incentive Plan (Details Textual) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | [1] | Oct. 06, 2009 | |
Minimum Percentage of Fair Market Value for Non-qualified Stock Option Price | 100% | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 0 | 54,000 | 54,000 | ||
Share-Based Payment Arrangement, Expense | $ 1,000 | $ 4,000 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 0 | ||||
Ten Percent Shareholders [Member] | |||||
Minimum Percentage of Fair Market Value for Incentive Stock Option Price | 110% | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period | 10 years | ||||
Other Employees [Member] | |||||
Minimum Percentage of Fair Market Value for Incentive Stock Option Price | 100% | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period | 5 years | ||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period | 10 years | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period | 5 years | ||||
Number Of Years After Options Vested, Stock Price Reach Predetermined Vesting Price | 3 years | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0% | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 36,000 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 18,000 | ||||
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 | 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 | 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 | 1,300,000 | ||||
[1]Contract Vesting Term: The stock options vest ratably over a five year period. |
Note 12 - Long-term Incentive_4
Note 12 - Long-term Incentive Plan - Stock Option Activity (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Outstanding balance, shares (in shares) | 54,000 | 54,000 | [1] |
Outstanding balance, weighted average exercise price (in dollars per share) | $ 1.83 | $ 1.83 | [1] |
Outstanding balance, weighted average fair value at grant date (in dollars per share) | $ 0.43 | $ 0.43 | [1] |
Options granted, shares (in shares) | 0 | 0 | |
Options granted, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | |
Options exercised, shares (in shares) | 0 | 0 | |
Options exercised, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | |
Options exercised, weighted average fair value at grant date (in dollars per share) | $ 0 | $ 0 | |
Options expired, shares (in shares) | 0 | 0 | |
Options expired, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | |
Options expired, weighted average fair value at grant date (in dollars per share) | $ 0 | $ 0 | |
Options cancelled or forfeited, shares (in shares) | (54,000) | 0 | |
Options cancelled or forfeited, weighted average exercise price (in dollars per share) | $ 1.83 | $ 0 | |
Options cancelled or forfeited, weighted average fair value at grant date (in dollars per share) | $ 0.43 | $ 0 | |
Outstanding balance, shares (in shares) | 0 | 54,000 | |
Outstanding balance, weighted average exercise price (in dollars per share) | $ 0 | $ 1.83 | |
Outstanding balance, weighted average fair value at grant date (in dollars per share) | $ 0 | $ 0.43 | |
[1]Contract Vesting Term: The stock options vest ratably over a five year period. |
Note 12 - Long-term Incentive_5
Note 12 - Long-term Incentive Plan - Period and Predetermined Stock Price Needed for Vesting (Details) | 12 Months Ended |
Dec. 31, 2023 $ / 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 13 - Shareholders' Equity
Note 13 - Shareholders' Equity (Details Textual) | 12 Months Ended |
Dec. 31, 2023 shares | |
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 |
Common Class B [Member] | |
Common Stock, Votes Per Share | 10 |
Note 15 - Business Segment In_3
Note 15 - Business Segment Information (Details Textual) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 USD ($) | Dec. 31, 2022 | |
Waste Management Services [Member] | ||
Increase (Decrease) in Total Assets | $ 0.6 | |
Golf and Related Operations [Member] | ||
Increase (Decrease) in Total Assets | $ 0.3 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||
Number of Major Customers | 2 | 1 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Customers [Member] | ||
Concentration Risk, Percentage | 6% | 14% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Customers [Member] | Waste Management Services [Member] | ||
Concentration Risk, Percentage | 6% | |
Customer Concentration Risk [Member] | Sales Revenue, Net to External Customers [Member] | Waste Management Services [Member] | ||
Number of Major Customers | 2 | 1 |
Customer Concentration Risk [Member] | Sales Revenue, Net to External Customers [Member] | Two Customers [Member] | ||
Concentration Risk, Percentage | 12% | 22% |
Customer Concentration Risk [Member] | Sales Revenue, Net to External Customers [Member] | Two Customers [Member] | Waste Management Services [Member] | ||
Concentration Risk, Percentage | 12% |
Note 15 - Business Segment In_4
Note 15 - Business Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 80,515 | $ 81,180 |
Capital expenditures | 3,918 | 6,561 |
Assets | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 80,515 | 81,180 |
Assets | 87,965 | 89,750 |
Income (loss) before income taxes | ||
Assets | 87,965 | 89,750 |
Income (loss) before income taxes | (1,987) | (886) |
Interest expense | 2,098 | 1,464 |
Other income, net | 384 | 231 |
Loss before income taxes | (1,987) | (886) |
Depreciation and amortization expense: | ||
Depreciation and amortization expense | 3,826 | 3,483 |
Interest Expense [Abstract] | ||
Interest Expense | 2,098 | 1,464 |
Waste Management Services [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 44,611 | 49,763 |
Assets | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 44,611 | 49,763 |
Golf and Related Operations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 35,984 | 31,497 |
Assets | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 35,984 | 31,497 |
Corporate Segment [Member] | ||
Income (loss) before income taxes | ||
Interest expense | 2,068 | 1,436 |
Depreciation and amortization expense: | ||
Depreciation and amortization expense | 253 | 196 |
Interest Expense [Abstract] | ||
Interest Expense | 2,068 | 1,436 |
Operating Segments [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 80,595 | 81,260 |
Assets | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 80,595 | 81,260 |
Income (loss) before income taxes | ||
Income (loss) before income taxes | 3,829 | 4,524 |
Loss before income taxes | 3,829 | 4,524 |
Operating Segments [Member] | Waste Management Services [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 44,611 | 49,763 |
Capital expenditures | 205 | 94 |
Assets | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 44,611 | 49,763 |
Assets | 35,839 | 35,198 |
Income (loss) before income taxes | ||
Assets | 35,839 | 35,198 |
Income (loss) before income taxes | 4,013 | 4,373 |
Interest expense | 0 | 1 |
Loss before income taxes | 4,013 | 4,373 |
Depreciation and amortization expense: | ||
Depreciation and amortization expense | 109 | 118 |
Interest Expense [Abstract] | ||
Interest Expense | 0 | 1 |
Operating Segments [Member] | Golf and Related Operations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 35,904 | 31,417 |
Capital expenditures | 3,620 | 6,333 |
Assets | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 35,904 | 31,417 |
Assets | 63,670 | 63,355 |
Income (loss) before income taxes | ||
Assets | 63,670 | 63,355 |
Income (loss) before income taxes | (184) | 151 |
Interest expense | 30 | 27 |
Loss before income taxes | (184) | 151 |
Depreciation and amortization expense: | ||
Depreciation and amortization expense | 3,464 | 3,169 |
Interest Expense [Abstract] | ||
Interest Expense | 30 | 27 |
Corporate, Non-Segment [Member] | ||
Capital expenditures | 93 | 134 |
Assets | ||
Assets | 65,453 | 65,630 |
Income (loss) before income taxes | ||
Assets | 65,453 | 65,630 |
Interest expense | (2,068) | (1,436) |
Other income, net | 9 | 13 |
General corporate expenses | (3,757) | (3,987) |
Interest Expense [Abstract] | ||
Interest Expense | (2,068) | (1,436) |
Intersegment Eliminations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | (80) | (80) |
Assets | ||
Revenue from Contract with Customer, Excluding Assessed Tax | (80) | (80) |
Assets | (76,997) | (74,433) |
Income (loss) before income taxes | ||
Assets | (76,997) | (74,433) |
Intersegment Eliminations [Member] | Golf and Related Operations [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 80 | 80 |
Assets | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 80 | 80 |
Segment Reconciling Items [Member] | ||
Assets | ||
Assets | 164,962 | 164,183 |
Income (loss) before income taxes | ||
Assets | $ 164,962 | $ 164,183 |
Note 16 - Certain Relationshi_2
Note 16 - Certain Relationships and Related Transactions (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | 24 Months Ended | ||||
Aug. 31, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2022 | Dec. 31, 2021 | |
Net Income (Loss) Attributable to Noncontrolling Interest | $ 269,000 | $ 397,000 | |||||
Avalon Med Spa [Member] | |||||||
Noncontrolling Interest, Ownership Percentage by Parent | 50.10% | 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% | ||||||
AWMS Holdings, LLC [Member] | |||||||
Equity Method Investments | $ 3,400,000 | $ 3,400,000 | |||||
Proceeds from Issuance of Private Placement | $ 3,800,000 | ||||||
Equity Method Investment, Ownership Percentage | 47% | 47% | |||||
Net Income (Loss) Attributable to Noncontrolling Interest | $ 100,000 | $ 100,000 | |||||
Avalon Med Spa [Member] | |||||||
Equity Method Investments | $ 359,000 | ||||||
Net Income (Loss) Attributable to Noncontrolling Interest | $ 100,000 | $ 300,000 | |||||
Equity Method Investments, Additional | $ 143,000 | ||||||
Avalon Med Spa [Member] | Accredited Investors [Member] | |||||||
Proceeds from Issuance of Private Placement | $ 358,000 | ||||||
Equity Method Investments, Additional | $ 142,000 |
Note 17 - Injection Wells Sus_2
Note 17 - Injection Wells Suspension (Details Textual) | Dec. 31, 2023 | Sep. 03, 2014 |
Number of Suspended Saltwater Injection Wells | 2 | 2 |