Bel Fuse (BELFB) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 01, 2022
Document Information [Line Items]
Entity Central Index Key	0000729580
Entity Registrant Name	BEL FUSE INC /NJ
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	000-11676
Entity Address, Address Line One	206 Van Vorst Street
Entity Address, City or Town	Jersey City
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07302
City Area Code	201
Local Phone Number	432-0463
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-1463699
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock ($0.10 par value)
Trading Symbol	BELFB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		10,371,602
Common Class A [Member]
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock ($0.10 par value)
Trading Symbol	BELFA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		2,144,912

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 51,235	$ 61,756
Accounts receivable, net of allowance for doubtful accounts of $1,347 and $1,536, respectively	93,683	87,135
Inventories	155,341	139,383
Unbilled receivables	20,556	28,275
Assets held for sale	1,626	1,626
Other current assets	11,649	10,841
Total current assets	334,090	329,016
Property, plant and equipment, net	37,569	38,210
Right-of-use assets	25,126	21,252
Intangible assets, net	58,878	60,995
Goodwill	26,272	26,651
Deferred income taxes	5,294	4,461
Other assets	33,052	31,261
Total assets	520,281	511,846
Current Liabilities:
Accounts payable	64,615	65,960
Accrued expenses	30,116	34,453
Operating lease liabilities, current	7,063	6,880
Other current liabilities	7,646	4,719
Total current liabilities	109,440	112,012
Long-term Liabilities:
Long-term debt	112,500	112,500
Operating lease liabilities, long-term	18,290	14,668
Liability for uncertain tax positions	28,740	28,434
Minimum pension obligation and unfunded pension liability	24,051	23,909
Deferred income taxes	1,583	1,487
Other liabilities	10,321	10,093
Total liabilities	304,925	303,103
Commitments and contingencies (see Note 14)
Stockholders' Equity:
Preferred stock, no par value, 1,000,000 shares authorized; none issued	0	0
Additional paid-in capital	38,996	38,419
Retained earnings	192,143	187,935
Accumulated other comprehensive loss	(17,034)	(18,863)
Total stockholders' equity	215,356	208,743
Total liabilities and stockholders' equity	520,281	511,846
Common Class A [Member]
Stockholders' Equity:
Common stock	214	214
Common Class B [Member]
Stockholders' Equity:
Common stock	$ 1,037	$ 1,038

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounts receivable, allowance for doubtful accounts	$ 1,347	$ 1,536
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, par value (in shares)	10,000,000	10,000,000
Common stock, shares outstanding (in shares)	2,144,912	2,144,912
Common stock, treasury shares (in shares)	1,072,769	1,072,769
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, par value (in shares)	30,000,000	30,000,000
Common stock, shares outstanding (in shares)	10,372,602	10,377,102
Common stock, treasury shares (in shares)	3,218,307	3,218,307

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue	$ 136,718	$ 110,643
Cost of sales	102,594	86,384
Gross profit	34,124	24,259
Research and development costs	5,009	4,986
Selling, general and administrative expenses	21,026	20,995
Gain on sale of property	0	(6,175)
Income from operations	8,089	4,453
Interest expense	(688)	(801)
Other (expense) income, net	(773)	546
Earnings before provision for income taxes	6,628	4,198
Provision for income taxes	1,564	999
Net earnings available to common stockholders	5,064	3,199
Common Class A [Member]
Net earnings available to common stockholders	$ 821	$ 522
Net earnings per common share:
Common shares - basic and diluted (in dollars per share)	$ 0.38	$ 0.24
Weighted-average number of shares outstanding:
Common shares - basic and diluted (in shares)	2,145	2,145
Common Class B [Member]
Net earnings available to common stockholders	$ 4,243	$ 2,677
Net earnings per common share:
Common shares - basic and diluted (in dollars per share)	$ 0.41	$ 0.26
Weighted-average number of shares outstanding:
Common shares - basic and diluted (in shares)	10,374	10,203

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net earnings available to common stockholders	$ 5,064	$ 3,199
Other comprehensive income (loss):
Currency translation adjustment, net of taxes of ($12) and $9, respectively	(1,216)	(2,529)
Unrealized gains (losses) on interest rate swap cash flow hedge, net of taxes of $0 in all periods presented	2,984	(1)
Change in unfunded SERP liability, net of taxes of ($17) and ($28), respectively	61	99
Other comprehensive income (loss)	1,829	(2,431)
Comprehensive income	$ 6,893	$ 768

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Foreign currency translation adjustment, tax expense	$ (12)	$ 9
Unrealized loss on marketable securities arising during the period, tax	0	0
Change in unfunded SERP liability, tax	$ (17)	$ (28)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Class A [Member]Retained Earnings [Member]	Common Class A [Member]AOCI Attributable to Parent [Member]	Common Class A [Member]Common Stock, Common Class A [Member]	Common Class A [Member]Common Stock, Common Class B [Member]	Common Class A [Member]Additional Paid-in Capital [Member]	Common Class A [Member]	Common Class B [Member]Retained Earnings [Member]	Common Class B [Member]AOCI Attributable to Parent [Member]	Common Class B [Member]Common Stock, Common Class A [Member]	Common Class B [Member]Common Stock, Common Class B [Member]	Common Class B [Member]Additional Paid-in Capital [Member]	Common Class B [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Common Stock, Common Class A [Member]	Common Stock, Common Class B [Member]	Additional Paid-in Capital [Member]	Total
Balance at Dec. 31, 2020													$ 166,491	$ (18,063)	$ 214	$ 1,021	$ 36,136	$ 185,799
Net earnings						$ 522						$ 2,677	3,199	0	0	0	0	3,199
Cash dividends declared on common stock						(128)	$ (716)	$ 0	$ 0	$ 0	$ 0	(716)
Forfeiture of restricted common stock													0	0	0	(1)		0
Forfeiture of restricted common stock, APIC																	1
Foreign currency translation adjustment, net of taxes													0	(2,529)	0	0	0	(2,529)
Stock-based compensation expense													0	0	0	0	600	600
Change in unfunded SERP liability, net of taxes													0	99	0	0	0	99
Unrealized gains (losses) on interest rate swap cash flow hedge, net of taxes of $0 in all periods presented													0	(1)	0	0	0	(1)
Balance at Mar. 31, 2021													168,846	(20,494)	214	1,020	36,737	186,323
Balance at Dec. 31, 2021													187,935	(18,863)	214	1,038	38,419	208,743
Net earnings						821						4,243	5,064	0	0	0	0	5,064
Cash dividends declared on common stock	$ (129)	$ 0	$ 0	$ 0	$ 0	$ (129)	$ (727)	$ 0	$ 0	$ 0	$ 0	$ (727)
Forfeiture of restricted common stock													0	0	0	(1)		0
Forfeiture of restricted common stock, APIC																	1
Foreign currency translation adjustment, net of taxes													0	(1,216)	0	0	0	(1,216)
Unrealized gains on interest rate swap cash flow hedge													0	2,984	0	0	0	2,984
Stock-based compensation expense													0	0	0	0	576	576
Change in unfunded SERP liability, net of taxes													0	61	0	0	0	61
Unrealized gains (losses) on interest rate swap cash flow hedge, net of taxes of $0 in all periods presented																		2,984
Balance at Mar. 31, 2022													$ 192,143	$ (17,034)	$ 214	$ 1,037	$ 38,996	$ 215,356

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Common Class A [Member]
Dividends declared (in dollars per share)	$ 0.06	$ 0.06
Common Class B [Member]
Dividends declared (in dollars per share)	$ 0.07	$ 0.07
Foreign currency translation adjustment, tax expense	$ (12)	$ 9
Change in unfunded SERP liability, tax	$ 17	$ 28

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net earnings	$ 5,064	$ 3,199
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:
Depreciation and amortization	4,301	4,145
Stock-based compensation	576	600
Amortization of deferred financing costs	34	165
Deferred income taxes	(451)	48
Net unrealized gains on foreign currency revaluation	(289)	(361)
Gains on sale of property	0	(6,175)
Other, net	131	(941)
Changes in operating assets and liabilities:
Accounts receivable, net	(6,694)	174
Unbilled receivables	7,719	1,267
Inventories	(16,344)	(1,293)
Accounts payable	(1,194)	804
Accrued expenses	(3,564)	(263)
Other operating assets/liabilities, net	2,963	397
Net cash (used in) provided by operating activities	(7,748)	1,766
Cash flows from investing activities:
Purchases of property, plant and equipment	(2,040)	(1,203)
Payments for acquisitions, net of cash acquired	0	(14,759)
Proceeds from sale of property, plant and equipment	87	6,724
Net cash used in investing activities	(1,953)	(9,238)
Cash flows from financing activities:
Dividends paid to common stockholders	(823)	(815)
Repayments of long-term debt	0	(1,487)
Net cash used in financing activities	(823)	(2,302)
Effect of exchange rate changes on cash and cash equivalents	3	(1,125)
Net decrease in cash and cash equivalents	(10,521)	(10,899)
Cash and cash equivalents - beginning of period	61,756	84,939
Cash and cash equivalents - end of period	51,235	74,040
Supplementary information:
Income taxes, net of refunds received	1,152	578
Interest payments	461	627
Goodwill	26,272
Less: Deferred consideration	0	(1,278)
Cash paid for acquisitions, net of cash acquired	0	14,759
RMS and EOS Acquisitions [Member]
Supplementary information:
Fair value of identifiable net assets acquired	0	18,215
Goodwill	0	2,499
Fair value of net assets acquired	0	20,714
Fair value of consideration transferred	0	20,714
Less: Cash acquired in acquisitions	$ 0	$ (4,677)

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Accounting Policies	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. BASIS OF PRESENTATION AND ACCOUNTING POLICIES The condensed consolidated balance sheets and statements of operations, comprehensive income, stockholders’ equity and cash flows for the periods presented herein have been prepared by the Company and are unaudited. In the opinion of management, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the consolidated financial position, results of operations and cash flows for all periods presented have been made. The results for the three March 31, 2022 not 10 December 31, 2021 Certain information and footnote disclosures required under accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted from these condensed consolidated financial statements pursuant to the rules and regulations, including the interim reporting requirements, of the U.S. Securities and Exchange Commission (“SEC”). The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates. The Company’s significant accounting policies are summarized in Note 1 10 December 31, 2021 no three March 31, 2022 All amounts included in the tables to these notes to condensed consolidated financial statements, except per share amounts, are in thousands. Recently Adopted Accounting Standards In August 2018, 2018 14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715 20 Changes to the Disclosure Requirements for Defined Benefit Plans 2018 14" not 2018 14 January 1, 2021. not In December 2019, 2019 12, Simplifying the Accounting for Income Taxes 2019 12" 740 January 1, 2021 not Accounting Standards Issued But Not In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 2016 13” , December 15, 2022, 2016 13, not In March 2020, 2020 04, Reference Rate Reform (Topic 848 2020 04" 2020 04 January 2021, 2021 01, 848 December 31, 2022.

Note 2 - Acquisitions

Note 2 - Acquisitions	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2. ACQUISITIONS rms Connectors On January 8, 2021, 30 second 2021, EOS Power On March 31, 2021, December 31, 2020. The acquisitions of rms Connectors and EOS may "2021 "2021 three March 31, 2021 2021 March 31, 2021. three March 31, 2021, 2021 No first 2022. The results of operations of the 2021 three March 31, 2021, $0.4 March 31, 2021, not first 2021. 2021 2021 January 1, 2021. not not 2021 January 1, 2021, may The following unaudited pro forma consolidated results of operations assume that the acquisition of the 2021 January 1, 2021: Three Months Ended March 31, 2021 Revenue, net $ 113,665 Net earnings 3,429 Earnings per Class A common share - basic and diluted 0.26 Earnings per Class B common share - basic and diluted 0.28

Note 3 - Revenue

Note 3 - Revenue	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. REVENUE The following table provides information about disaggregated revenue by geographic region and sales channel, and includes a reconciliation of the disaggregated revenue to our reportable segments: Three Months Ended March 31, 2022 Connectivity Solutions Power Solutions and Protection Magnetic Solutions Consolidated By Geographic Region: North America $ 32,532 $ 42,349 $ 10,878 $ 85,759 Europe 9,214 9,385 2,471 21,070 Asia 1,967 7,056 20,866 29,889 $ 43,713 $ 58,790 $ 34,215 $ 136,718 By Sales Channel: Direct to customer $ 26,053 $ 35,844 $ 25,738 $ 87,635 Through distribution 17,660 22,946 8,477 49,083 $ 43,713 $ 58,790 $ 34,215 $ 136,718 Three Months Ended March 31, 2021 Connectivity Solutions Power Solutions and Protection Magnetic Solutions Consolidated By Geographic Region: North America $ 29,542 $ 29,777 $ 7,077 $ 66,396 Europe 6,747 9,959 1,248 17,954 Asia 1,767 3,905 20,621 26,293 $ 38,056 $ 43,641 $ 28,946 $ 110,643 By Sales Channel: Direct to customer $ 23,637 $ 26,489 $ 24,335 $ 74,461 Through distribution 14,419 17,152 4,611 36,182 $ 38,056 $ 43,641 $ 28,946 $ 110,643 March 31, 2022 December 31, 2021 March 31, December 31, 2022 2021 Contract assets - current (unbilled receivables) $ 20,556 $ 28,275 Contract liabilities - current (deferred revenue) $ 3,977 $ 2,224 The change in balance of our unbilled receivables from December 31, 2021 March 31, 2022 The aggregate amount of transaction price allocated to remaining performance obligations that have not March 31, 2022 one $61.5 2023 2025. 88% of 2023, 7% 2024 2024.

Note 4 - Earnings Per Share

Note 4 - Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	4. EARNINGS PER SHARE The following table sets forth the calculation of basic and diluted net earnings per common share under the two three March 31, 2022 2021 Three Months Ended March 31, 2022 2021 Numerator: Net earnings $ 5,064 $ 3,199 Less dividends declared: Class A 129 128 Class B 727 716 Undistributed earnings $ 4,208 $ 2,355 Undistributed earnings allocation - basic and diluted: Class A undistributed earnings $ 692 $ 394 Class B undistributed earnings 3,516 1,961 Total undistributed earnings $ 4,208 $ 2,355 Net earnings allocation - basic and diluted: Class A net earnings $ 821 $ 522 Class B net earnings 4,243 2,677 Net earnings $ 5,064 $ 3,199 Denominator: Weighted-average shares outstanding: Class A - basic and diluted 2,145 2,145 Class B - basic and diluted 10,374 10,203 Net earnings per share: Class A - basic and diluted $ 0.38 $ 0.24 Class B - basic and diluted $ 0.41 $ 0.26

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5. FAIR VALUE MEASUREMENTS Fair value is defined as an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based upon the best use of the asset or liability at the measurement date. Entities are required to use a fair value hierarchy which maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. There are three may Level 1 Level 2 Level 3 no As of March 31, 2022 December 31, 2021 1 March 31, 2022 December 31, 2021 Throughout 2022 2021 0.1 March 31, 2022 December 31, 2021 2 During the fourth 2021, two 9, $2.9 March 31, 2022 December 31, 2021 The Company does not 3, no 1, 2 3 three March 31, 2022 March 31, 2021 no three March 31, 2022 March 31, 2021 There were no financial assets accounted for at fair value on a nonrecurring basis as of March 31, 2022 December 31, 2021 The Company has other financial instruments, such as cash and cash equivalents, accounts receivable, restricted cash, accounts payable and accrued expenses, which are not March 31, 2022 December 31, 2021 not March 31, 2022 Nonfinancial assets and liabilities, such as goodwill, indefinite-lived intangible assets and long-lived assets, are accounted for at fair value on a nonrecurring basis. These items are tested for impairment upon the occurrence of a triggering event or in the case of goodwill, on at least an annual basis. Based on the Company's assessment, it was concluded that no three March 31, 2022 March 31, 2021

Note 6 - Inventories

Note 6 - Inventories	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Inventory Disclosure [Text Block]	6. INVENTORIES The components of inventories are as follows: March 31, December 31, 2022 2021 Raw materials $ 69,239 $ 67,127 Work in progress 44,117 31,103 Finished goods 41,985 41,153 Inventories $ 155,341 $ 139,383

Note 7 - Property, Plant and Eq

Note 7 - Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	7. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: March 31, December 31, 2022 2021 Land $ 1,105 $ 1,105 Buildings and improvements 21,469 20,915 Machinery and equipment 122,051 120,961 Construction in progress 4,462 5,081 149,087 148,062 Accumulated depreciation (111,518 ) (109,852 ) Property, plant and equipment, net $ 37,569 $ 38,210 Depreciation expense was $2.4 million for each of the three March 31, 2022 2021 At March 31, 2022

Note 8 - Accrued Expenses

Note 8 - Accrued Expenses	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8. ACCRUED EXPENSES Accrued expenses consist of the following: March 31, December 31, 2022 2021 Sales commissions $ 2,012 $ 2,049 Subcontracting labor 1,977 1,622 Salaries, bonuses and related benefits 17,065 21,342 Warranty accrual 1,038 1,056 Other 8,024 8,384 $ 30,116 $ 34,453 The change in warranty accrual during the three March 31, 2022 no three March 31, 2022

Note 9 - Derivative Instruments

Note 9 - Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	9. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Our primary objective for holding derivative financial instruments is to manage foreign currency exchange rate risk and interest rate risk, when deemed appropriate. We enter into these contracts in the normal course of business to mitigate risks and not Foreign Currency Forward Contracts Under our risk management strategy, we periodically use foreign currency forward contracts to manage our short-term exposures to fluctuations in operational cash flows resulting from changes in foreign currency exchange rates. These cash flow exposures result from portions of our forecasted operating expenses, primarily compensation and related expenses, which are transacted in currencies other than the U.S. dollar, most notably the Chinese Renminbi and the Mexican Peso. These foreign currency forward contracts generally have maturities of no twelve twelve We held outstanding foreign currency forward contracts with notional amounts of $17.3 March 31, 2022 December 31, 2021, Interest Rate Swap Agreements To partially mitigate risks associated with the variable interest rates on the revolver borrowings under the credit agreement (further described in Note 10, December 2021, two one one $30.0 “2021 2021 December 31, 2021, January 31, 2022 2021 August 31, 2026. The 2021 Fair Values of Derivative Financial Instruments The fair values of our derivative financial instruments and their classifications in our condensed consolidated balance sheets as of March 31, 2022 December 31, 2021 Balance Sheet Classification March 31, 2022 December 31, 2021 Derivative assets: Foreign currency forward contracts: Designated as cash flow hedges Other current assets $ 67 $ 57 Not designated as hedging instruments Other current assets 43 - Interest rate swap agreements: Designated as a cash flow hedge Other assets 2,868 Total derivative assets $ 2,978 $ 57 Derivative liabilities: Foreign currency forward contracts: Designated as cash flow hedges Other current liabilities $ - $ - Not designated as hedging instruments Other current liabilities - 19 Interest rate swap agreements: Designated as a cash flow hedge Other long-term liabilities - 116 Total derivative liabilities $ - $ 135 Derivative Financial Instruments in Cash Flow Hedging Relationships The effects of derivative financial instruments designated as cash flow hedges on accumulated other comprehensive loss (“AOCL”) and on the condensed consolidated statements of operations for the three March 31, 2022 March 31, 2021 Three Months Ended March 31, 2022 2021 Net gains recognized in AOCL: Foreign currency forward contracts $ 154 $ - Interest rate swap agreements 2,809 - $ 2,963 $ - Net gains (losses) reclassified from AOCL to the condensed consolidated statements of operations: Foreign currency forward contracts $ 67 $ - Interest rate swap agreements (176 ) - $ (109 ) $ - The gain related to the foreign currency forward contracts is included as a component of currency translation adjustment on the accompanying condensed consolidated statements of comprehensive income at March 31, 2022 December 31, 2021. March 31, 2022 December 31, 2021 no three March 31, 2021. Derivative Financial Instruments Not Gains recognized on derivative financial instruments not three March 31, 2022 March 31, 2021 Three Months Ended March 31, Classification in Consolidated Statements of Operations 2022 2021 Foreign currency forward contracts Other (expense) income, net $ (7 ) $ 10 $ (7 ) $ 10

Note 10 - Debt

Note 10 - Debt	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	10. DEBT The Company has a Credit and Security Agreement with KeyBank National Association (as amended, the "credit agreement" or the "CSA"). The CSA provides a $175 million 5-year senior secured revolving credit facility ("Revolver"), with a sublimit of up to $10 million available for letters of credit and a sublimit of up to $5 million available for swing line loans. The Company had $112.5 million in outstanding borrowings under the Revolver at each of March 31, 2022 December 31, 2021 September 1, 2026. The weighted-average interest rate in effect for the variable-rate portion of our outstanding borrowings ($52.5 million at each date) was 1.96% at March 31, 2022 December 31, 2021 9, 2021 2021 one 2021 first 2022. 2021 three March 31, 2022 March 31, 2021 The CSA contains customary representations and warranties, covenants and events of default. In addition, the CSA contains financial covenants that measure (i) the ratio of the Company’s total funded indebtedness, on a consolidated basis, less the aggregate amount of all unencumbered cash and cash equivalents, to the amount of the Company’s consolidated EBITDA (“Leverage Ratio”) and (ii) the ratio of the amount of the Company’s consolidated EBITDA to the Company’s consolidated fixed charges (“Fixed Charge Coverage Ratio”). If an event of default occurs, the lenders under the CSA would be entitled to take various actions, including the acceleration of amounts due thereunder and all actions permitted to be taken by a secured creditor. At March 31, 2022 the Leverage Ratio.

Note 11 - Income Taxes

Note 11 - Income Taxes	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11. INCOME TAXES The Company's estimated taxable income in future periods is not not no 2018 2015. no 2011 2013 As a result of the expiration of the statutes of limitations for specific jurisdictions, it is reasonably possible that the related unrecognized benefits for tax positions taken regarding previously filed tax returns may March 31, 2022. March 31, 2022 December 31, 2021, 2022 The Company’s policy is to recognize interest and penalties related to uncertain tax positions as a component of the current provision for income taxes. During the three March 31, 2022 2021, March 31, 2022 December 31, 2021,

Note 12 - Retirement Fund and P

Note 12 - Retirement Fund and Profit Sharing Plan	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Retirement Benefits [Text Block]	12. RETIREMENT FUND AND PROFIT SHARING PLAN The Company maintains the Bel Fuse Inc. Employees’ Savings Plan, a defined contribution plan that is intended to meet the applicable requirements for tax-qualification under sections 401 1986, three March 31, 2022 2021 $0.4 million and $0.3 March 31, 2022 321,707 and 99,858 The Company also maintains a Nonqualified Deferred Compensation Plan (the "DCP"). With certain exception, the Company's contributions to the DCP are discretionary and become fully vested by the participants upon reaching age 65. The expense for the three March 31, 2022 2021 March 31, 2022 December 31, 2021. The Company's subsidiaries in Asia have a retirement fund covering substantially all of their Hong Kong based full-time employees. The expense for the three March 31, 2022 2021 $0.8 $0.1 March 31, 2022 The Company maintains a SERP, which is designed to provide a limited group of key management and other key employees of the Company with supplemental retirement and death benefits. As discussed in Note 5 The components of SERP expense are as follows: Three Months Ended March 31, 2022 2021 Service cost $ 126 $ 169 Interest cost 159 135 Net amortization 78 127 Net periodic benefit cost $ 363 $ 431 The service cost component of net benefit cost is presented within cost of sales or selling, general and administrative expense on the accompanying condensed consolidated statements of operations, in accordance with where compensation cost for the related associate is reported. All other components of net benefit cost, including interest cost and net amortization noted above, are presented within other (expense) income, net in the accompanying condensed consolidated statements of operations. The following amounts are recognized net of tax in accumulated other comprehensive loss: March 31, December 31, 2022 2021 Prior service cost $ 428 $ 460 Net loss 1,345 1,391 $ 1,773 $ 1,851

Note 13 - Accumulated Other Com

Note 13 - Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	13. ACCUMULATED OTHER COMPREHENSIVE LOSS The components of accumulated other comprehensive loss at March 31, 2022 December 31, 2021 March 31, December 31, 2022 2021 Foreign currency translation adjustment, net of taxes of ($404) ($417) $ (16,127 ) $ (14,911 ) Unrealized gains (losses) on interest rate swap cash flow hedge, net of taxes of ($7) ($7) 2,897 (87 ) Unfunded SERP liability, net of taxes of ($485) ($502) (3,804 ) (3,865 ) Accumulated other comprehensive loss $ (17,034 ) $ (18,863 ) Changes in accumulated other comprehensive loss by component during the three March 31, 2022 Unrealized Foreign Currency Gains (Losses) on Translation Interest Rate Swap Unfunded Adjustment Cash Flow Hedge SERP Liability Total Balance at December 31, 2021 $ (14,911 ) $ (87 ) $ (3,865 ) $ (18,863 ) Other comprehensive (loss) income before reclassifications (1,216 ) 2,984 (6 ) 1,762 Amount reclassified from accumulated other comprehensive loss - - 67 (a) 67 Net current period other comprehensive (loss) income (1,216 ) 2,984 61 1,829 Balance at March 31, 2022 $ (16,127 ) $ 2,897 $ (3,804 ) $ (17,034 ) (a) This reclassification relates to the amortization of prior service costs and gains/losses associated with the Company's SERP Plan. This expense is reflected in other (expense) income, net on the accompanying condensed consolidated statements of operations.

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	14. COMMITMENTS AND CONTINGENCIES Legal Proceedings On June 23, 2021, Bel Power Solutions, Inc. v. Monolithic Power Systems, Inc. 6:21cv00655, September 2021. May 5, 2022, In connection with the Company's 2014 2004 2006. September 2012, February 2013, October 2, 2014. October 13, 2014, July 18, 2015 December 5, 2016, January 4, 2017. March 31, 2022 December 31, 2021 The Company is not

Note 15 - Segments

Note 15 - Segments	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	15. SEGMENTS The Company operates in one industry with three reportable operating segments, which represent the Company's three product groups and a corporate segment. The segments consist of Connectivity Solutions, Power Solutions and Protection, Magnetic Solutions and a Corporate segment. The primary criteria by which financial performance is evaluated and resources are allocated are revenue and gross profit. The following is a summary of key financial data: Three Months Ended March 31, 2022 Connectivity Power Solutions Magnetic Corporate Solutions and Protection Solutions Segment Total Revenue $ 43,713 $ 58,790 $ 34,215 $ - $ 136,718 Gross Profit 11,596 15,938 6,890 (300 ) 34,124 Gross Profit % 26.5 % 27.1 % 20.1 % nm 25.0 % Three Months Ended March 31, 2021 Connectivity Power Solutions Magnetic Corporate Solutions and Protection Solutions Segment Total Revenue $ 38,056 $ 43,641 $ 28,946 $ - $ 110,643 Gross Profit 9,773 10,782 3,961 (257 ) 24,259 Gross Profit % 25.7 % 24.7 % 13.7 % nm 21.9 %

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In August 2018, 2018 14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715 20 Changes to the Disclosure Requirements for Defined Benefit Plans 2018 14" not 2018 14 January 1, 2021. not In December 2019, 2019 12, Simplifying the Accounting for Income Taxes 2019 12" 740 January 1, 2021 not Accounting Standards Issued But Not In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 2016 13” , December 15, 2022, 2016 13, not In March 2020, 2020 04, Reference Rate Reform (Topic 848 2020 04" 2020 04 January 2021, 2021 01, 848 December 31, 2022.

Note 2 - Acquisitions (Tables)

Note 2 - Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Business Acquisition, Pro Forma Information [Table Text Block]	Three Months Ended March 31, 2021 Revenue, net $ 113,665 Net earnings 3,429 Earnings per Class A common share - basic and diluted 0.26 Earnings per Class B common share - basic and diluted 0.28

Note 3 - Revenue (Tables)

Note 3 - Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended March 31, 2022 Connectivity Solutions Power Solutions and Protection Magnetic Solutions Consolidated By Geographic Region: North America $ 32,532 $ 42,349 $ 10,878 $ 85,759 Europe 9,214 9,385 2,471 21,070 Asia 1,967 7,056 20,866 29,889 $ 43,713 $ 58,790 $ 34,215 $ 136,718 By Sales Channel: Direct to customer $ 26,053 $ 35,844 $ 25,738 $ 87,635 Through distribution 17,660 22,946 8,477 49,083 $ 43,713 $ 58,790 $ 34,215 $ 136,718 Three Months Ended March 31, 2021 Connectivity Solutions Power Solutions and Protection Magnetic Solutions Consolidated By Geographic Region: North America $ 29,542 $ 29,777 $ 7,077 $ 66,396 Europe 6,747 9,959 1,248 17,954 Asia 1,767 3,905 20,621 26,293 $ 38,056 $ 43,641 $ 28,946 $ 110,643 By Sales Channel: Direct to customer $ 23,637 $ 26,489 $ 24,335 $ 74,461 Through distribution 14,419 17,152 4,611 36,182 $ 38,056 $ 43,641 $ 28,946 $ 110,643
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	March 31, December 31, 2022 2021 Contract assets - current (unbilled receivables) $ 20,556 $ 28,275 Contract liabilities - current (deferred revenue) $ 3,977 $ 2,224

Note 4 - Earnings Per Share (Ta

Note 4 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2022 2021 Numerator: Net earnings $ 5,064 $ 3,199 Less dividends declared: Class A 129 128 Class B 727 716 Undistributed earnings $ 4,208 $ 2,355 Undistributed earnings allocation - basic and diluted: Class A undistributed earnings $ 692 $ 394 Class B undistributed earnings 3,516 1,961 Total undistributed earnings $ 4,208 $ 2,355 Net earnings allocation - basic and diluted: Class A net earnings $ 821 $ 522 Class B net earnings 4,243 2,677 Net earnings $ 5,064 $ 3,199 Denominator: Weighted-average shares outstanding: Class A - basic and diluted 2,145 2,145 Class B - basic and diluted 10,374 10,203 Net earnings per share: Class A - basic and diluted $ 0.38 $ 0.24 Class B - basic and diluted $ 0.41 $ 0.26

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2022 2021 Raw materials $ 69,239 $ 67,127 Work in progress 44,117 31,103 Finished goods 41,985 41,153 Inventories $ 155,341 $ 139,383

Note 7 - Property, Plant and _2

Note 7 - Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, December 31, 2022 2021 Land $ 1,105 $ 1,105 Buildings and improvements 21,469 20,915 Machinery and equipment 122,051 120,961 Construction in progress 4,462 5,081 149,087 148,062 Accumulated depreciation (111,518 ) (109,852 ) Property, plant and equipment, net $ 37,569 $ 38,210

Note 8 - Accrued Expenses (Tabl

Note 8 - Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, December 31, 2022 2021 Sales commissions $ 2,012 $ 2,049 Subcontracting labor 1,977 1,622 Salaries, bonuses and related benefits 17,065 21,342 Warranty accrual 1,038 1,056 Other 8,024 8,384 $ 30,116 $ 34,453

Note 9 - Derivative Instrumen_2

Note 9 - Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Balance Sheet Classification March 31, 2022 December 31, 2021 Derivative assets: Foreign currency forward contracts: Designated as cash flow hedges Other current assets $ 67 $ 57 Not designated as hedging instruments Other current assets 43 - Interest rate swap agreements: Designated as a cash flow hedge Other assets 2,868 Total derivative assets $ 2,978 $ 57 Derivative liabilities: Foreign currency forward contracts: Designated as cash flow hedges Other current liabilities $ - $ - Not designated as hedging instruments Other current liabilities - 19 Interest rate swap agreements: Designated as a cash flow hedge Other long-term liabilities - 116 Total derivative liabilities $ - $ 135
Derivative Instruments, Gain (Loss) [Table Text Block]	Three Months Ended March 31, 2022 2021 Net gains recognized in AOCL: Foreign currency forward contracts $ 154 $ - Interest rate swap agreements 2,809 - $ 2,963 $ - Net gains (losses) reclassified from AOCL to the condensed consolidated statements of operations: Foreign currency forward contracts $ 67 $ - Interest rate swap agreements (176 ) - $ (109 ) $ -
Derivatives Not Designated as Hedging Instruments [Table Text Block]	Three Months Ended March 31, Classification in Consolidated Statements of Operations 2022 2021 Foreign currency forward contracts Other (expense) income, net $ (7 ) $ 10 $ (7 ) $ 10

Note 12 - Retirement Fund and_2

Note 12 - Retirement Fund and Profit Sharing Plan (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended March 31, 2022 2021 Service cost $ 126 $ 169 Interest cost 159 135 Net amortization 78 127 Net periodic benefit cost $ 363 $ 431
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	March 31, December 31, 2022 2021 Prior service cost $ 428 $ 460 Net loss 1,345 1,391 $ 1,773 $ 1,851

Note 13 - Accumulated Other C_2

Note 13 - Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	March 31, December 31, 2022 2021 Foreign currency translation adjustment, net of taxes of ($404) ($417) $ (16,127 ) $ (14,911 ) Unrealized gains (losses) on interest rate swap cash flow hedge, net of taxes of ($7) ($7) 2,897 (87 ) Unfunded SERP liability, net of taxes of ($485) ($502) (3,804 ) (3,865 ) Accumulated other comprehensive loss $ (17,034 ) $ (18,863 )
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component [Table Text Block]	Unrealized Foreign Currency Gains (Losses) on Translation Interest Rate Swap Unfunded Adjustment Cash Flow Hedge SERP Liability Total Balance at December 31, 2021 $ (14,911 ) $ (87 ) $ (3,865 ) $ (18,863 ) Other comprehensive (loss) income before reclassifications (1,216 ) 2,984 (6 ) 1,762 Amount reclassified from accumulated other comprehensive loss - - 67 (a) 67 Net current period other comprehensive (loss) income (1,216 ) 2,984 61 1,829 Balance at March 31, 2022 $ (16,127 ) $ 2,897 $ (3,804 ) $ (17,034 )

Note 15 - Segments (Tables)

Note 15 - Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, 2022 Connectivity Power Solutions Magnetic Corporate Solutions and Protection Solutions Segment Total Revenue $ 43,713 $ 58,790 $ 34,215 $ - $ 136,718 Gross Profit 11,596 15,938 6,890 (300 ) 34,124 Gross Profit % 26.5 % 27.1 % 20.1 % nm 25.0 % Three Months Ended March 31, 2021 Connectivity Power Solutions Magnetic Corporate Solutions and Protection Solutions Segment Total Revenue $ 38,056 $ 43,641 $ 28,946 $ - $ 110,643 Gross Profit 9,773 10,782 3,961 (257 ) 24,259 Gross Profit % 25.7 % 24.7 % 13.7 % nm 21.9 %

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2021	Jan. 08, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2020
Payments to Acquire Businesses, Net of Cash Acquired, Total			$ 0	$ 14,759
EOS Power Panama Inc. [Member]
Revenues, Total					$ 12,000
Business Combination, Acquisition Related Costs				200
rms Connectors, Inc. [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total		$ 9,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred	$ (7,800)
Revenues, Total				2,100
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual				$ 400

Note 2 - Acquisitions - Proform

Note 2 - Acquisitions - Proforma Results (Details) - The 2021 Acquisitions [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / shares
Revenue, net | $	$ 113,665
Net earnings | $	$ 3,429
Common Class A [Member]
Earnings per common share - basic and diluted (in dollars per share) | $ / shares	$ 0.26
Common Class B [Member]
Earnings per common share - basic and diluted (in dollars per share) | $ / shares	$ 0.28

Note 3 - Revenue 1 (Details Tex

Note 3 - Revenue 1 (Details Textual) $ in Millions	Mar. 31, 2022USD ($)
Revenue, Remaining Performance Obligation, Amount	$ 61.5

Note 3 - Revenue 2 (Details Tex

Note 3 - Revenue 2 (Details Textual)	Mar. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Percentage	88.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)		1 year
Revenue, Remaining Performance Obligation, Percentage	7.00%

Note 3 - Revenue - Disaggregati

Note 3 - Revenue - Disaggregation of Revenue by Product Group and Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue	$ 136,718	$ 110,643
Sales Channel, Directly to Consumer [Member]
Revenue	87,635	74,461
Sales Channel, Through Intermediary [Member]
Revenue	49,083	36,182
Connectivity Solutions [Member]
Revenue	43,713	38,056
Connectivity Solutions [Member] | Sales Channel, Directly to Consumer [Member]
Revenue	26,053	23,637
Connectivity Solutions [Member] | Sales Channel, Through Intermediary [Member]
Revenue	17,660	14,419
Power Solutions and Protection [Member]
Revenue	58,790	43,641
Power Solutions and Protection [Member] | Sales Channel, Directly to Consumer [Member]
Revenue	35,844	26,489
Power Solutions and Protection [Member] | Sales Channel, Through Intermediary [Member]
Revenue	22,946	17,152
Magnetic Solutions [Member]
Revenue	34,215	28,946
Magnetic Solutions [Member] | Sales Channel, Directly to Consumer [Member]
Revenue	25,738	24,335
Magnetic Solutions [Member] | Sales Channel, Through Intermediary [Member]
Revenue	8,477	4,611
North America [Member]
Revenue	85,759	66,396
North America [Member] | Connectivity Solutions [Member]
Revenue	32,532	29,542
North America [Member] | Power Solutions and Protection [Member]
Revenue	42,349	29,777
North America [Member] | Magnetic Solutions [Member]
Revenue	10,878	7,077
Europe [Member]
Revenue	21,070	17,954
Europe [Member] | Connectivity Solutions [Member]
Revenue	9,214	6,747
Europe [Member] | Power Solutions and Protection [Member]
Revenue	9,385	9,959
Europe [Member] | Magnetic Solutions [Member]
Revenue	2,471	1,248
Asia [Member]
Revenue	29,889	26,293
Asia [Member] | Connectivity Solutions [Member]
Revenue	1,967	1,767
Asia [Member] | Power Solutions and Protection [Member]
Revenue	7,056	3,905
Asia [Member] | Magnetic Solutions [Member]
Revenue	$ 20,866	$ 20,621

Note 3 - Revenue - Contract Ass

Note 3 - Revenue - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Contract assets - current (unbilled receivables)	$ 20,556	$ 28,275
Contract liabilities - current (deferred revenue)	$ 3,977	$ 2,224

Note 4 - Earnings Per Share - B

Note 4 - Earnings Per Share - Basic and Diluted Net Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		15 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2021
Net earnings	$ 5,064	$ 3,199
Undistributed earnings	4,208	2,355
Common Class A [Member]
Net earnings	821	522
Less dividends declared	129	128	$ 128
Undistributed earnings	$ 692	$ 394
Class A - basic and diluted (in shares)	2,145	2,145
Common shares - basic and diluted (in dollars per share)	$ 0.38	$ 0.24
Common Class B [Member]
Net earnings	$ 4,243	$ 2,677
Less dividends declared	727	716
Undistributed earnings	$ 3,516	$ 1,961
Class A - basic and diluted (in shares)	10,374	10,203
Common shares - basic and diluted (in dollars per share)	$ 0.41	$ 0.26

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative Asset, Total	$ 2,978	$ 57
Long-Term Debt, Fair Value	112,500	112,500
Long-Term Debt, Gross	112,500	112,500
Fair Value, Nonrecurring [Member]
Assets, Fair Value Disclosure		0
Foreign Exchange Forward [Member] | Maximum [Member]
Derivative Asset, Total	100	100
Interest Rate Swap [Member]
Derivative Asset, Total	2,900	100
Investments Held in Rabbi Trust [Member]
Debt Securities, Available-for-Sale, Total	$ 200	$ 300

Note 6 - Inventories - Componen

Note 6 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Raw materials	$ 69,239	$ 67,127
Work in progress	44,117	31,103
Finished goods	41,985	41,153
Inventories	$ 155,341	$ 139,383

Note 7 - Property, Plant and _3

Note 7 - Property, Plant and Equipment, Net (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Depreciation, Total	$ 2.4	$ 2.4
Assets Held-for-sale, Not Part of Disposal Group, Total	$ 1.6

Note 7 - Property, Plant and _4

Note 7 - Property, Plant and Equipment, Net - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, plant and equipment, gross	$ 149,087	$ 148,062
Accumulated depreciation	(111,518)	(109,852)
Property, plant and equipment, net	37,569	38,210
Land [Member]
Property, plant and equipment, gross	1,105	1,105
Building and Building Improvements [Member]
Property, plant and equipment, gross	21,469	20,915
Machinery and Equipment [Member]
Property, plant and equipment, gross	122,051	120,961
Construction in Progress [Member]
Property, plant and equipment, gross	$ 4,462	$ 5,081

Note 8 - Accrued Expenses - Acc

Note 8 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Sales commissions	$ 2,012	$ 2,049
Subcontracting labor	1,977	1,622
Salaries, bonuses and related benefits	17,065	21,342
Warranty accrual	1,038	1,056
Other	8,024	8,384
Accrued Liabilities, Current, Total	$ 30,116	$ 34,453

Note 9 - Derivative Instrumen_3

Note 9 - Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Foreign Exchange Forward [Member]
Derivative, Notional Amount	$ 17.3	$ 17.1
The 2021 Swaps One [Member]
Derivative, Notional Amount	$ 30
Derivative, Fixed Interest Rate	1.3055%	1.3055%
The 2021 Swaps Two [Member]
Derivative, Notional Amount	$ 30
Derivative, Fixed Interest Rate	1.318%	1.318%

Note 9 - Derivative Instrumen_4

Note 9 - Derivative Instruments and Hedging Activities - Fair Value of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Total derivative assets	$ 2,978	$ 57
Total derivative liabilities	0	135
Interest Rate Swap [Member]
Total derivative assets	2,900	100
Other Current Assets [Member] | Foreign Exchange Forward [Member]
Designated as cash flow hedges	67	57
Not designated as hedging instruments	43	0
Designated as a cash flow hedge	43	0
Other Noncurrent Assets [Member] | Interest Rate Swap [Member]
Not designated as hedging instruments	2,868
Designated as a cash flow hedge	2,868
Other Current Liabilities [Member] | Foreign Exchange Forward [Member]
Not designated as hedging instruments	0	19
Designated as a cash flow hedge	0	19
Other Noncurrent Liabilities [Member] | Interest Rate Swap [Member]
Not designated as hedging instruments	0	116
Designated as a cash flow hedge	$ 0	$ 116

Note 9 - Derivative Instrumen_5

Note 9 - Derivative Instruments and Hedging Activities - Derivative Financial Instruments Effects on Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative net gains (losses) recognized in AOCL	$ 2,963	$ 0
Derivative net gains (losses) reclassified from AOCL	(109)	0
Foreign Exchange Forward [Member]
Derivative net gains (losses) recognized in AOCL	154	0
Derivative net gains (losses) reclassified from AOCL	67	0
Interest Rate Swap [Member]
Derivative net gains (losses) recognized in AOCL	2,809	0
Derivative net gains (losses) reclassified from AOCL	$ (176)	$ 0

Note 9 - Derivative Instrumen_6

Note 9 - Derivative Instruments and Hedging Activities - (Losses) Gains Recognized on Derivatives Instruments Not Designated as Hedging (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative instruments	$ (7)	$ 10
Foreign Exchange Forward [Member] | Nonoperating Income (Expense) [Member]
Derivative instruments	$ (7)	$ 10

Note 10 - Debt (Details Textual

Note 10 - Debt (Details Textual) - USD ($) $ in Millions	Sep. 02, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Interest Rate Swap [Member]
Derivative, Notional Amount				$ 30
The 2021 Swaps [Member]
Derivative, Notional Amount				$ 60
The 2021 Swaps One [Member]
Derivative, Notional Amount		$ 30
Derivative, Fixed Interest Rate		1.3055%		1.3055%
The 2021 Swaps Two [Member]
Derivative, Notional Amount		$ 30
Derivative, Fixed Interest Rate		1.318%		1.318%
Credit and Security Agreement with KeyBank [Member]
Long-Term Debt, Percentage Bearing Variable Interest, Amount		$ 52.5		$ 52.5
Debt, Weighted Average Interest Rate		1.96%		1.60%
Debt Instrument, Interest Rate, Effective Percentage		2.41%
Interest Expense, Debt, Total		$ 0.7	$ 0.8
Credit and Security Agreement with KeyBank [Member] | Term Loan [Member]
Long-Term Debt, Total		$ 112.5		$ 112.5
Credit and Security Agreement with KeyBank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 175
Debt Instrument, Term (Year)	5 years
Line of Credit Facility, Maximum Letters of Credit Capacity	$ 10
Line of Credit Facility, Maximum Swing Line Loan Capacity	$ 5

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Unrecognized Tax Benefits, Ending Balance	$ 28.7		$ 28.4
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	4.1
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total	0.2	$ 0.2
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	$ 5.2		$ 5

Note 12 - Retirement Fund and_3

Note 12 - Retirement Fund and Profit Sharing Plan (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)shares	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Bel Fuse Inc. Employees' Savings Plan [Member]
Defined Contribution Plan, Cost	$ 0.4	$ 0.3
Bel Fuse Inc. Employees' Savings Plan [Member] | Common Class A [Member]
Shares Held in Plan (in shares) | shares	321,707
Bel Fuse Inc. Employees' Savings Plan [Member] | Common Class B [Member]
Shares Held in Plan (in shares) | shares	99,858
Nonqualified Deferred Compensation Plan [Member]
Deferred Compensation Arrangement, Vesting Age	65
Deferred Compensation Plan Assets	$ 0.7		$ 0.8
Deferred Compensation Liability, Current and Noncurrent, Total	0.7		$ 0.8
Nonqualified Deferred Compensation Plan [Member] | Maximum [Member]
Deferred Compensation Arrangement with Individual, Compensation Expense	0.1	0.1
Retirement Fund Covering Hong Kong-based Employees [Member]
Defined Contribution Plan, Cost	$ 0.8	$ 0.1
Retirement Fund Covering Hong Kong-based Employees [Member] | Common Class A [Member]
Shares Held in Plan (in shares) | shares	3,323
Retirement Fund Covering Hong Kong-based Employees [Member] | Common Class B [Member]
Shares Held in Plan (in shares) | shares	17,342

Note 12 - Retirement Fund and_4

Note 12 - Retirement Fund and Profit Sharing Plan - Components of SERP Expense (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Service cost	$ 126	$ 169
Interest cost	159	135
Net amortization	78	127
Net periodic benefit cost	$ 363	$ 431

Note 12 - Retirement Fund and_5

Note 12 - Retirement Fund and Profit Sharing Plan - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Prior service cost	$ 428	$ 460
Net loss	1,345	1,391
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax, Total	$ 1,773	$ 1,851

Note 13 - Accumulated Other C_3

Note 13 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Foreign currency translation adjustment, net of taxes of ($404) at March 31, 2022 and ($417) at December 31, 2021	$ (16,127)	$ (14,911)
Unrealized gains (losses) on interest rate swap cash flow hedge, net of taxes of ($7) at March 31, 2022 and ($7) at December 31, 2021	2,897	(87)
Unfunded SERP liability, net of taxes of ($485) at March 31, 2022 and ($502) at December 31, 2021	(3,804)	(3,865)
Accumulated other comprehensive loss	$ (17,034)	$ (18,863)

Note 13 - Accumulated Other C_4

Note 13 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Foreign currency translation adjustment, tax	$ (404)	$ (417)
Unrealized holding gains on available-for-sale securities, tax	(7)	(7)
Change in unfunded SERP liabilityChange in unfunded SERP liability, tax, tax	$ (485)	$ (502)

Note 13 - Accumulated Other C_5

Note 13 - Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Balance		$ 208,743	$ 185,799
Other comprehensive income (loss)		1,829	(2,431)
Balance		215,356	186,323
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance		(14,911)
Other comprehensive (loss) income before reclassifications		(1,216)
Amount reclassified from accumulated other comprehensive loss		0
Other comprehensive income (loss)		(1,216)
Balance		(16,127)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Balance		(87)
Other comprehensive (loss) income before reclassifications		2,984
Amount reclassified from accumulated other comprehensive loss		0
Other comprehensive income (loss)		2,984
Balance		2,897
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance		(3,865)
Other comprehensive (loss) income before reclassifications		(6)
Amount reclassified from accumulated other comprehensive loss	[1]	67
Other comprehensive income (loss)		61
Balance		(3,804)
AOCI Attributable to Parent [Member]
Balance		(18,863)	(18,063)
Other comprehensive (loss) income before reclassifications		1,762
Amount reclassified from accumulated other comprehensive loss		67
Other comprehensive income (loss)		1,829
Balance		$ (17,034)	$ (20,494)
[1]	This reclassification relates to the amortization of prior service costs and gains/losses associated with the Company's SERP Plan. This expense is reflected in other (expense) income, net on the accompanying condensed consolidated statements of operations.

Note 14 - Commitments and Con_2

Note 14 - Commitments and Contingencies (Details Textual) $ in Millions	Mar. 31, 2022USD ($)
Arezzo Revenue Agency [Member]
Loss Contingency, Estimate of Possible Loss	$ 12

Note 15 - Segments (Details Tex

Note 15 - Segments (Details Textual)	3 Months Ended
	Mar. 31, 2022
Number of Industry in which Entity Operates	1
Number of Operating Segments	3
Number of Reportable Segments	3

Note 15 - Segments - Segments (

Note 15 - Segments - Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue	$ 136,718	$ 110,643
Gross Profit	$ 34,124	$ 24,259
Gross Profit %	25.00%	21.90%
Connectivity Solutions [Member]
Revenue	$ 43,713	$ 38,056
Gross Profit	$ 11,596	$ 9,773
Gross Profit %	26.50%	25.70%
Power Solutions and Protection Segment [Member]
Revenue	$ 58,790	$ 43,641
Gross Profit	$ 15,938	$ 10,782
Gross Profit %	27.10%	24.70%
Magnetic Solutions Segment [Member]
Revenue	$ 34,215	$ 28,946
Gross Profit	$ 6,890	$ 3,961
Gross Profit %	20.10%	13.70%
Corporate Segment [Member]
Revenue	$ 0	$ 0
Gross Profit	$ (300)	$ (257)

Uncategorized Items - belfb2022

Label	Element	Value
Common Class A [Member] | Additional Paid-in Capital [Member]
Less dividends declared	us-gaap_DividendsCommonStockCash	$ 0
Common Class A [Member] | Retained Earnings [Member]
Less dividends declared	us-gaap_DividendsCommonStockCash	128,000
Common Class A [Member] | AOCI Attributable to Parent [Member]
Less dividends declared	us-gaap_DividendsCommonStockCash	0
Common Class A [Member] | Common Stock, Common Class B [Member]
Less dividends declared	us-gaap_DividendsCommonStockCash	0
Common Class A [Member] | Common Stock, Common Class A [Member]
Less dividends declared	us-gaap_DividendsCommonStockCash	$ 0