Rocky Brands (RCKY) 10-Q 9 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 31, 2021
Document Information [Line Items]
Entity Central Index Key	0000895456
Entity Registrant Name	ROCKY BRANDS, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-34382
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-1364046
Entity Address, Address Line One	39 East Canal Street
Entity Address, City or Town	Nelsonville
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45764
City Area Code	740
Local Phone Number	753‑9100
Title of 12(b) Security	Common Stock – No Par Value
Trading Symbol	RCKY
Security Exchange Name	NASDAQ
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
Entity Common Stock, Shares Outstanding		7,288,935

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 8,358	$ 28,353	$ 25,832
Trade receivables – net	79,963	48,010	35,362
Contract receivables	2,017	5,170	1,254
Other receivables	235	364	402
Inventories – net	143,516	77,576	74,546
Income tax receivable	2,290	0	0
Prepaid expenses	4,772	3,713	3,358
Total current assets	241,151	163,186	140,754
LEASED ASSETS	2,626	1,572	1,554
PROPERTY, PLANT & EQUIPMENT – net	55,956	33,750	28,450
Goodwill (3)	48,375	0	0
IDENTIFIED INTANGIBLES – net	127,904	30,209	30,224
OTHER ASSETS	879	374	348
TOTAL ASSETS	476,891	229,091	201,330
CURRENT LIABILITIES:
Accounts payable	67,224	20,090	15,962
Contract liabilities	2,017	5,582	1,254
Current Portion of Long-Term Debt	3,250	0	0
Accrued expenses:
Salaries and wages	4,363	4,463	1,304
Taxes - other	536	893	778
Accrued freight	2,670	911	417
Commissions	1,068	712	392
Accrued duty	6,534	4,270	3,954
Accrued interest	2,197	0	0
Income tax payable	0	1,019	578
Other	5,115	2,043	1,598
Total current liabilities	94,974	39,983	26,237
Long-term debt	184,121	0	0
LONG-TERM TAXES PAYABLE	169	169	169
LONG-TERM LEASE	1,867	944	967
DEFERRED INCOME TAXES	8,272	8,271	8,108
DEFERRED LIABILITIES	392	219	219
TOTAL LIABILITIES	289,795	49,586	35,700
SHAREHOLDERS' EQUITY:
Common stock, no par value; 25,000,000 shares authorized; issued and outstanding June 30, 2021 - 7,283,434; December 31, 2020 - 7,247,631; June 30, 2020 - 7,312,217	67,210	65,971	67,390
Retained earnings	119,886	113,534	98,240
Total shareholders' equity	187,096	179,505	165,630
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 476,891	$ 229,091	$ 201,330

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Common stock, par value (in dollars per share)	$ 0	$ 0	$ 0
Common stock, shares authorized (in shares)	25,000,000	25,000,000	25,000,000
Common stock, shares issued (in shares)	7,283,434	7,247,631	7,312,217
Common stock, shares outstanding (in shares)	7,283,434	7,247,631	7,312,217

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
NET SALES	$ 131,602	$ 56,186	$ 219,268	$ 111,905
COST OF GOODS SOLD	82,448	36,724	134,976	73,124
GROSS MARGIN	49,154	19,462	84,292	38,781
OPERATING EXPENSES	40,717	16,363	69,275	34,169
INCOME FROM OPERATIONS	8,437	3,099	15,017	4,612
OTHER (EXPENSES) INCOME	(3,378)	(48)	(4,125)	(57)
INCOME BEFORE INCOME TAXES	5,059	3,051	10,892	4,555
INCOME TAX EXPENSE	1,164	609	2,506	925
NET INCOME	$ 3,895	$ 2,442	$ 8,386	$ 3,630
INCOME PER SHARE
Basic (in dollars per share)	$ 0.53	$ 0.33	$ 1.15	$ 0.50
Diluted (in dollars per share)	$ 0.52	$ 0.33	$ 1.13	$ 0.49
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
Basic (in shares)	7,283	7,312	7,271	7,332
Diluted (in shares)	7,439	7,334	7,402	7,360

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock Including Additional Paid in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Net income			$ 2,442	$ 2,442
Dividends paid on common stock			(1,023)	(1,023)
Repurchase of common stock (in shares)	0
Repurchase of common stock				0
Stock issued for options exercised, including tax benefits (in shares)	0
Stock issued for options exercised, including tax benefits				0
Stock compensation expense (in shares)	3
Stock compensation expense	$ 195			195
BALANCE (in shares) at Mar. 31, 2020	7,309
BALANCE at Mar. 31, 2020	$ 67,195	$ 0	96,821	164,016
BALANCE (in shares) at Jun. 30, 2020	7,312
BALANCE at Jun. 30, 2020	$ 67,390	0	98,240	165,630
Net income			4,492	4,492
Dividends paid on common stock			(1,015)	(1,015)
Repurchase of common stock (in shares)	0
Repurchase of common stock				0
Stock issued for options exercised, including tax benefits (in shares)	31
Stock issued for options exercised, including tax benefits	$ 607			607
Stock compensation expense (in shares)	2
Stock compensation expense	$ 278			278
BALANCE (in shares) at Dec. 31, 2020	7,248
BALANCE at Dec. 31, 2020	$ 65,971	0	113,534	179,505
BALANCE (in shares) at Mar. 31, 2021	7,281
BALANCE at Mar. 31, 2021	$ 66,856	0	117,011	183,867
Net income				8,386
BALANCE (in shares) at Dec. 31, 2020	7,248
BALANCE at Dec. 31, 2020	$ 65,971	0	113,534	179,505
BALANCE (in shares) at Jun. 30, 2021	7,283
BALANCE at Jun. 30, 2021	$ 67,210	0	119,886	187,096
Net income			3,895	3,895
Dividends paid on common stock			(1,020)	(1,020)
Repurchase of common stock (in shares)	0
Repurchase of common stock				0
Stock issued for options exercised, including tax benefits (in shares)	1
Stock issued for options exercised, including tax benefits	$ 24			24
Stock compensation expense (in shares)	1
Stock compensation expense	$ 330			330
BALANCE (in shares) at Mar. 31, 2021	7,281
BALANCE at Mar. 31, 2021	$ 66,856	0	117,011	183,867
BALANCE (in shares) at Jun. 30, 2021	7,283
BALANCE at Jun. 30, 2021	$ 67,210	$ 0	$ 119,886	$ 187,096

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020
Dividends paid on common stock, per share (in dollars per share)	$ 0.14	$ 0.14	$ 0.14	$ 0.14

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 8,386	$ 3,630
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,557	2,538
Amortization of debt issuance costs	249	0
Deferred income taxes	1	0
Loss on disposal of fixed assets	13	0
Stock compensation expense	608	397
Change in assets and liabilities:
Receivables	2,620	10,337
Contract receivables	3,153	3,492
Inventories	(23,487)	2,185
Other current assets	(1,254)	(1,558)
Other assets	(430)	(54)
Accounts payable	19,547	2,184
Accrued and other liabilities	(1,019)	(1,322)
Income taxes payable	636	578
Contract liabilities	(3,565)	(3,492)
Net cash provided by operating activities	11,015	18,915
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(9,757)	(5,548)
Acquisition of business, net of cash acquired	(206,970)	0
Net cash used in investing activities	(216,727)	(5,548)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facility	92,700	20,000
Repayments on revolving credit facility	(30,500)	(20,000)
Proceeds from term loan	130,000	0
Repayments on term loan	(813)	0
Debt issuance costs	(4,266)	0
Proceeds from stock options	631	0
Repurchase of common stock	0	(1,000)
Dividends paid on common stock	(2,035)	(2,053)
Net cash provided by (used in) financing activities	185,717	(3,053)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(19,995)	10,314
CASH AND CASH EQUIVALENTS:
BEGINNING OF PERIOD	28,353	15,518
END OF PERIOD	$ 8,358	$ 25,832

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. We are a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky, Georgia Boot, Durango, Lehigh, The Original Muck Boot Company, XTRATUF, Servus, NEOS and Ranger. Our brands have a long history of representing high quality, comfortable, functional and durable footwear and our products are organized around six In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments that are necessary for a fair presentation of the financial results. All such adjustments reflected in the unaudited condensed consolidated financial statements are considered to be of a normal and recurring nature. The results of operations for the three six June 30, 2021 2020 not December 31, 2020 not 10 10 December 31, 2020 We report our segment information in accordance with provisions of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 280, Segment Reporting During the three June 30, 2021, 10 December 31, 2020, There has been no no December 31, 2020 March 31, 2021. Note 14

Note 2 - Accounting Standards U

Note 2 - Accounting Standards Updates	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	2. Recently Issued Accounting Pronouncements Rocky Brands, Inc. is currently evaluating the impact of certain Accounting Standards Updates (“ASU”) on its Unaudited Condensed Consolidated Financial Statements or Notes to the Unaudited Condensed Consolidated Financial Statements: Standard Description Anticipated Adoption Period Effect on the financial statements or other significant matters ASU 2016 13, The pronouncement seeks to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date by replacing the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Q1 2023 We are evaluating the impacts of the new standard on our existing financial instruments, including trade receivables. Accounting Standards Adopted in the Current Year Standard Description Effect on the financial statements or other significant matters ASU 2018 13 820 This pronouncement changes the fair value measurement disclosure requirements of ASC 820. 8: We adopted the new standard in Q1 2020 not ASU 2019 12, 740 This pronouncement is intended to simplify various aspects related to accounting for income taxes. ASU 2019 12 740 We adopted the new standard in Q1 2021 not

Note 3 - Fair Value

Note 3 - Fair Value	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	3. Generally accepted accounting standards establish a framework for measuring fair value. The fair value accounting standard defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. This standard clarifies how to measure fair value as permitted under other accounting pronouncements. The fair value accounting standard defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. This standard also establishes a three three ● Level 1 ● Level 2 1, not ● Level 3 no The fair values of cash and cash equivalents, receivables, and payables approximated their carrying values because of the short-term nature of these instruments. Receivables consist primarily of amounts due from our customers, net of allowances, amounts due from employees (sales persons’ advances in excess of commissions earned and employee travel advances), other customer receivables, net of allowances, and expected insurance recoveries. The carrying amounts of our long-term credit facility and other short-term financing obligations also approximate fair value, as they are comparable to the available financing in the marketplace during the year. The fair value of our credit facilities are categorized as Level 2. We hold assets and liabilities in a separate trust in connection with deferred compensation plans. The fair value of these assets are based on unadjusted quoted market prices for the funds in active markets with sufficient volume and frequency (Level 1

Note 4 - Acquisition

Note 4 - Acquisition	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Business Combinations Policy [Policy Text Block]	4. The Performance and Lifestyle Footwear Business of Honeywell International, Inc. On January 24, 2021, On March 15, 2021 ( two Note 10 two The Acquisition expanded our brand portfolio to include The Original Muck Boot Company, XTRATUF, Servus, NEOS and Ranger brands (the "Acquired Brands"). We acquired 100% of the voting interests of certain subsidiaries and additional assets comprising the performance and lifestyle footwear business of Honeywell with the Acquisition. With the acquisition of the Acquired Brands, we will greatly enhance our powerful portfolio of footwear brands and significantly increase our sales and profitability. We acquired a well-run business with a corporate culture and a customer base similar to ours, which provides meaningful growth opportunities within our existing product categories as well as an entry into new market segments. Its innovative and authentic product collections complement our existing offering with minimal overlap, which will allow us to strengthen our wholesale relationships and serve a wider consumer audience. At the same time, we plan to leverage our existing advanced fulfillment capabilities to improve distribution of the Acquired Brands to wholesale customers and accelerate direct-to-consumer penetration. In connection with the Acquisition, we also entered into employment agreements with seven seven In connection with the Acquisition, Honeywell will provide certain services to us under the Transition Service Agreement ("TSA"). The costs associated with the TSA are both fixed and variable. We expect these costs to decline over time as we integrate the businesses. The Acquisition contributed net sales of $50.7 million and $57.2 million, respectively, to the unaudited condensed consolidated operating results for the three six June 30, 2021 ncome of $0.1 million and $0.7 million, respectively, to the unaudited condensed consolidated operating results for the three six June 30, 2021 . Acquisition-related costs Costs incurred to complete and integrate the Acquisition are expensed as incurred and included in "operating expenses" in the accompanying condensed consolidated statements of operations. During the three six June 30, 2021 Preliminary Purchase Price Allocation The Acquisition has been accounted for under the business combinations accounting guidance. As a result, we have applied acquisition accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date. The aggregate preliminary closing price noted above was allocated to the major categories of assets acquired and liabilities assumed based on their fair values at the Acquisition Date using primarily Level 2 3 2 3 The allocation of the purchase price to the assets acquired and liabilities assumed, including the residual amount allocated to goodwill, is based upon preliminary information and subject to change within the measurement period ( up to 165 The following table summarizes the consideration paid for the Acquisition and the amounts of the assets acquired and liabilities assumed as of the Acquisition Date, which have been allocated on a preliminary basis and are subject to change based on the final working capital true-up. ($ in thousands) Fair Value Cash $ 2,655 Accounts receivable (1) 36,734 Inventories (2) 42,453 Property, plant and equipment 16,240 Goodwill (3) 48,375 Intangible assets 98,620 Other assets 933 Accounts payable (17,743 ) Accrued expenses (12,807 ) Total identifiable net assets 215,460 Cash acquired (2,655 ) Payable to Seller (4) (5,835 ) Total cash paid, net of cash acquired $ 206,970 ( 1 $0.2 ( 2 ly $2 .3 three six June 30, 2021 ( 3 Goodwill consists ( 4 Represents the preliminary amount owed to the seller, Honeywell, based on the preliminary working capital true-up and is included in "Accounts Payable" in the accompanying unaudited condensed consolidated balance sheet. Unaudited Pro Forma Financial Information The following unaudited pro forma results of operations assume that the Acquisition occurred at the beginning of the periods presented. These unaudited pro forma results are presented for information purposes only and are not approximately $2.3 million and $7.5 million for t three six June 30, 2021 three six June 30, 2020 Three Months Ended June 30, Six Months Ended June 30, ($ in thousands, expect per share amount) 2021 2020 2021 2020 Net sales $ 131,602 $ 90,255 $ 257,947 $ 184,885 Net income $ 6,154 $ 3,081 $ 20,103 $ 5,581 Diluted earnings per share $ 0.83 $ 0.42 $ 2.72 $ 0.76

Note 5 - Revenue

Note 5 - Revenue	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	5. Nature of Performance Obligations Our products are distributed through three distinct channels, which represent our business segments: Wholesale, Retail, and Contract Manufacturing. In our Wholesale business, we distribute our products through a wide range of distribution channels representing over ten thousand Significant Accounting Policies and Judgements Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; this generally occurs upon shipment of our product to our customer, which is when the transfer of control of our products passes to the customer. The duration of our arrangements with our customers are typically one Revenues from sales are recorded at the net sales price, which includes estimates of variable consideration for which reserves are established. Components of variable consideration include prompt payment discounts, volume rebates, and product returns. These reserves, as detailed below, are based on the amounts earned, or to be claimed on the related sales, and are classified as reductions of accounts receivable (if the amount is payable to the customer) or a current liability (if the amount is payable to a party other than a customer). The amount of variable consideration which is included in the transaction price may not not June 30, 2021 may When a customer has a right to a prompt payment discount, we estimate the likelihood that the customer will earn the discount using historical data and adjust our estimate when the estimate of the likelihood that a customer will earn the discount changes or the consideration becomes fixed, whichever occurs earlier. The estimated amount of variable consideration is recognized as a credit to trade receivables and a reduction in revenue until the uncertainty of the variable consideration is alleviated. Because most of our customers have payment terms of less than six not When a customer is offered a rebate on purchases retroactively this is accounted for as variable consideration because the consideration for the current and past purchases is not When a right of return is part of the arrangement with the customer, we estimate the expected returns based on an analysis using historical data. We adjust our estimate either when the most likely amount of consideration we expect to receive changes or when the consideration becomes fixed, whichever occurs earlier. See Note 6 Note 7 Trade receivables represent our right to unconditional payment that only relies on the passage of time. Contract receivables represent contractual minimum payments required under non-cancellable contracts with the U.S. Military and other customers with a duration of one Contract liabilities are performance obligations that we expect to satisfy or relieve within the next twelve Items considered immaterial within the context of the contract are recognized as an expense. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue producing transaction, that are collected from customers, are excluded from revenue. Costs associated with our manufacturer’s warranty continue to be recognized as expense when the products are sold in accordance with guidance surrounding product warranties. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are in included in operating expenses. Costs associated with obtaining a contract are expensed as incurred in accordance with the practical expedient in ASC 340 40 one Contract Balances The following table provides information about contract liabilities from contracts with our customers. June 30, December 31, June 30, ($ in thousands) 2021 2020 2020 Contract liabilities $ 2,017 $ 5,582 $ 1,254 Significant changes in the contract liabilities balance during the period are as follows: ($ in thousands) Contract liabilities Balance, December 31, 2020 $ 5,582 Non-cancelable contracts with customers entered into during the period 2,017 Revenue recognized related to non-cancelable contracts with customers during the period (5,582 ) Balance, June 30, 2021 $ 2,017 Disaggregation of Revenue All revenues are recognized at a point in time when control of our products pass to the customer at point of shipment. Because all revenues are recognized at a point in time and are disaggregated by channel, our segment disclosures are consistent with ASC 606 Note 14

Note 6 - Trade Receivables

Note 6 - Trade Receivables	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	6. Trade receivables are presented net of the related allowance for uncollectible accounts of approximately $1,062,000, $242,000 and $278,000 at June 30, 2021 December 31, 2020 June 30, 2020 may In accordance with ASC 606, June 30, 2021 December 31, 2020 June 30, 2020

Note 7 - Inventory

Note 7 - Inventory	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	7. Inventories are comprised of the following: June 30, December 31, June 30, ($ in thousands) 2021 2020 2020 Raw materials $ 22,105 $ 12,875 $ 14,130 Work-in-process 1,668 1,128 1,189 Finished goods 119,743 63,573 59,227 Total $ 143,516 $ 77,576 $ 74,546 In accordance with ASC 606, June 30, 2021 December 31, 2020 June 30, 2020

Note 8 - Goodwill

Note 8 - Goodwill	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Goodwill Disclosure [Text Block]	8. Goodwill represents the excess of the purchase price over the fair value of net tangible and identifiable intangible assets of acquired businesses. Goodwill arose from the Acquisition and largely consists of the workforce acquired, expected cost synergies and economies of scale resulting from the business combination . We are evaluating goodwill for taxes purposes and a detailed analysis of the domestic and international goodwill tax treatment will occur in subsequent quarters. GAAP has established guidance for reporting information about a company's operating segments, including disclosures related to a company's products and services, geographic areas and major customer. We monitor and review our segment reporting structure in accordance with authoritative guidance to determine whether any changes have occurred that would impact our reportable segments, as well as our reporting units. As previously stated, our operations represent three reporting segments, Wholesale, Retail and Contract Manufacturing. Goodwill impairment analysis will be performed for our Wholesale and Retail reporting segments. There is no goodwill allocated to our Contract Manufacturing segment. The amount of goodwill allocated to our wholesale and retail reporting segments will be determined upon completion of our working capital-true up. Goodwill is subject to impairment tests at least annually. We review the carrying amounts of goodwill by reporting unit at least annually, or when indicators of impairment are present, to determine if goodwill may not We may first not not not fourth December 31, 2021.

Note 9 - Identified Intangible

Note 9 - Identified Intangible Assets	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	9. A schedule of identified intangible assets is as follows: Gross Accumulated Carrying ($ in thousands) Amount Amortization Amount June 30, 2021 Trademarks Wholesale (1) $ 72,592 - $ 72,592 Retail (2) 9,220 - 9,220 Patents 895 $ 791 104 Customer relationships (3) 46,900 $ 912 45,988 Total Intangibles $ 129,607 $ 1,703 $ 127,904 ( 1 March 15, 2021. ( 2 March 15, 2021. ( 3 March 15, 2021. Gross Accumulated Carrying ($ in thousands) Amount Amortization Amount December 31, 2020 Trademarks Wholesale $ 27,192 $ - $ 27,192 Retail 2,900 - 2,900 Patents 895 778 117 Total Intangibles $ 30,987 $ 778 $ 30,209 Gross Accumulated Carrying ($ in thousands) Amount Amortization Amount June 30, 2020 Trademarks Wholesale $ 27,192 - $ 27,192 Retail 2,900 - 2,900 Patents 895 $ 763 132 Total Intangibles $ 30,987 $ 763 $ 30,224 The weighted average life for our patents is 3.2 years. A schedule of approximate amortization expense related to finite-lived intangible assets for the three six June 30, 2021 2020 Three Months Ended Six Months Ended June 30, June 30, ($ in thousands) 2021 2020 2021 2020 Amortization expense $ 918 $ 8 $ 925 $ 16 Updated to include the amortization of our acquired intangible assets, a schedule of approximate expected remaining amortization expense related to finite-lived intangible assets for the years ending December 31, Amortization ($ in thousands) Expense 2021 $ 1,576 2022 3,149 2023 3,147 2024 3,143 2025 3,139 2026+ 31,938

Note 10 - Long-term Debt

Note 10 - Long-term Debt	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	10. LONG-TERM DEBT On March 15, 2021, June 30, 2021. 3.25, 3.25, Our Term Facility is collateralized by a second first March 15, 2026. On March 15, 2021, may first June 30, 2021 The ABL Facility is collateralized by first second March 15, 2026. Average Availability as a Revolver Pricing Level (1) Percentage of Commitments Base Rate LIBOR Rate Base Rate for FILO LIBOR Rate for FILO I > 66.7% 0.00 % 1.25 % 0.50 % 1.75 % II >33.3% and < or equal to 66.7% 0.00 % 1.50 % 0.50 % 2.00 % III < or equal to 33.3% 0.25 % 1.75 % 0.75 % 2.25 % ( 1 June 30, 2021, In connection with the Term Facility and ABL Facility, we had to pay certain fees that were capitalized and will be amortized over the life of each respective loan. In addition, the ABL Facility requires us to pay an annual collateral management fee in the amount of $75,000 due on each anniversary of the ABL Facility issuance date, until it matures. Current and long-term debt consisted of the following: June 30, ($ in thousands) 2021 Term Facility that matures in 2026 with an effective interest rate of 8.00% $ 129,188 ABL Facility that matures in 2026: LIBOR borrowings with an effective interest rate of 1.63% 40,000 Prime borrowings with an effective interest rate of 3.25% 22,200 Total debt 191,388 Less: Unamortized debt issuance costs (4,017 ) Total debt, net of debt issuance costs 187,371 Less: Debt maturing within one year (3,250 ) Long-term debt $ 184,121 Credit Facility Covenants The Term Facility contains restrictive covenants which requires us to maintain a maximum total leverage ratio and a minimum fixed charge coverage ratio, as defined in the agreement. We believe we are in compliance with all credit facility covenants as of June 30, 2021 Our ABL Facility contains a restrictive covenant which requires us to maintain a fixed charge coverage ratio upon a triggering event taking place (as defined in the ABL Facility agreement). During the three six June 30, 2021 no not Both the Term Facility and the ABL Facility contain restrictions on the amount of dividend payments. Huntington Credit Facility On February 13, 2019, Applicable Spread Rates for Applicable Spread Rates Domestic Rate Average Excess Revolver Availability for Eurodollar Rate Revolving Revolver Pricing Level for Previous Quarter Revolving Advances Advances I $25,000,000+ 1.00 % 0.50 % II $17,500,000 to < 25,000,000 1.25 % 0.50 % III $10,000,000 to < 17,500,000 1.50 % 2.50 % IV $< 10,000,000 1.75 % 0.00 % The total amount available under the Huntington Credit Facility was subject to a borrowing base calculation based on various percentages of accounts receivable and inventory. As of December 31, 2020 June 30, 2020, Credit Facility Covenants The Huntington Credit Facility contained restrictive covenants which required us to maintain a fixed charge coverage ratio. These restrictive covenants were only in effect upon a triggering event taking place. The Huntington Credit Facility contained restrictions on the amount of dividends that may three six June 30, 2020, no not

Note 11 - Taxes

Note 11 - Taxes	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11. We are subject to tax examinations in various taxing jurisdictions. The earliest years open for examination are as follows: Earliest Exam Year Taxing Authority Jurisdiction: U.S. Federal 2017 China 2017 Various U.S. States 2016 Puerto Rico (U.S. Territory) 2015 Canada 2015 Our policy is to accrue interest and penalties on any uncertain tax position as a component of income tax expense. No such expenses were recognized during the three six June 30, 2021 2020 not 12 Accounting for uncertainty in income taxes requires financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprise’s financial statements. Under this guidance, income tax positions must meet a more-likely-than- not not no Our estimated tax rates for the three six June 30, 2021 2020 Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Effective Tax Rate 23.0 % 20.0 % 23.0 % 20.3 %

Note 12 - Earnings Per Share

Note 12 - Earnings Per Share	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	12. Basic earnings per share (“EPS”) is computed by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding during each period. The diluted earnings per share computation includes common share equivalents, when dilutive. A reconciliation of the shares used in the basic and diluted income per common share computation for the three six June 30, 2021 2020 Three Months Ended Six Months Ended June 30, June 30, (shares in thousands) 2021 2020 2021 2020 Basic - weighted average shares outstanding 7,283 7,312 7,271 7,332 Dilutive stock options 156 22 132 28 Diluted - weighted average shares outstanding 7,439 7,334 7,402 7,360 Anti-dilutive securities 25 188 25 187

Note 13 - Supplemental Cash Flo

Note 13 - Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	13. Supplemental cash flow information for the three six June 30, 2021 2020 ($ in thousands) 2021 2020 Interest paid $ 1,625 $ 118 Federal, state, and local income taxes paid, net $ 5,771 $ 7 Change in contract receivables, net $ 3,153 $ 3,492 Change in contract liabilities, net $ (3,565 ) $ (3,492 ) Property, plant, and equipment purchases in accounts payable $ 855 $ 462 Preliminary working capital true-up related to acquired business $ 5,835 $ -

Note 14 - Segment Information

Note 14 - Segment Information	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	14. During the three June 30, 2021, 10 December 31, 2020, There has been no no December 31, 2020 March 31, 2021. We have identified three reportable segments: Wholesale, Retail and Contract Manufacturing. Wholesale includes sales of footwear and accessories to several classifications of retailers, including sporting goods stores, outdoor specialty stores, online retailers, marine stores, independent retailers, mass merchants, retail uniform stores, and specialty safety shoe stores. Our Retail business includes direct sales of our products to consumers through our e-commerce websites, marketplaces, our Rocky outlet store, and Lehigh businesses. Contract Manufacturing includes sales to the U.S. Military, private label sales and any sales to customers in which we are contracted to manufacture or source a specific footwear product for a customer. The following is a summary of segment results for the Wholesale, Retail, and Contract Manufacturing segments for the three six June 30, 2021 2020 Three Months Ended Six Months Ended June 30, June 30, ($ in thousands) 2021 2020 2021 2020 NET SALES: Wholesale $ 101,142 $ 34,281 $ 160,261 $ 69,267 Retail 22,344 16,329 46,328 33,218 Contract Manufacturing 8,116 5,576 12,679 9,420 Total Net Sales $ 131,602 $ 56,186 $ 219,268 $ 111,905 GROSS MARGIN: Wholesale $ 36,291 $ 10,776 $ 58,530 $ 22,017 Retail 11,094 7,853 22,643 15,307 Contract Manufacturing 1,769 833 3,119 1,457 Total Gross Margin $ 49,154 $ 19,462 $ 84,292 $ 38,781

Note 4 - Acquisition (Tables)

Note 4 - Acquisition (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	($ in thousands) Fair Value Cash $ 2,655 Accounts receivable (1) 36,734 Inventories (2) 42,453 Property, plant and equipment 16,240 Goodwill (3) 48,375 Intangible assets 98,620 Other assets 933 Accounts payable (17,743 ) Accrued expenses (12,807 ) Total identifiable net assets 215,460 Cash acquired (2,655 ) Payable to Seller (4) (5,835 ) Total cash paid, net of cash acquired $ 206,970
Business Acquisition, Pro Forma Information [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, ($ in thousands, expect per share amount) 2021 2020 2021 2020 Net sales $ 131,602 $ 90,255 $ 257,947 $ 184,885 Net income $ 6,154 $ 3,081 $ 20,103 $ 5,581 Diluted earnings per share $ 0.83 $ 0.42 $ 2.72 $ 0.76

Note 5 - Revenue (Tables)

Note 5 - Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	June 30, December 31, June 30, ($ in thousands) 2021 2020 2020 Contract liabilities $ 2,017 $ 5,582 $ 1,254
Revenue, Initial Application Period, Cumulative Effect Transition [Table Text Block]	($ in thousands) Contract liabilities Balance, December 31, 2020 $ 5,582 Non-cancelable contracts with customers entered into during the period 2,017 Revenue recognized related to non-cancelable contracts with customers during the period (5,582 ) Balance, June 30, 2021 $ 2,017

Note 7 - Inventory (Tables)

Note 7 - Inventory (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, June 30, ($ in thousands) 2021 2020 2020 Raw materials $ 22,105 $ 12,875 $ 14,130 Work-in-process 1,668 1,128 1,189 Finished goods 119,743 63,573 59,227 Total $ 143,516 $ 77,576 $ 74,546

Note 9 - Identified Intangibl_2

Note 9 - Identified Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Gross Accumulated Carrying ($ in thousands) Amount Amortization Amount June 30, 2021 Trademarks Wholesale (1) $ 72,592 - $ 72,592 Retail (2) 9,220 - 9,220 Patents 895 $ 791 104 Customer relationships (3) 46,900 $ 912 45,988 Total Intangibles $ 129,607 $ 1,703 $ 127,904 Gross Accumulated Carrying ($ in thousands) Amount Amortization Amount December 31, 2020 Trademarks Wholesale $ 27,192 $ - $ 27,192 Retail 2,900 - 2,900 Patents 895 778 117 Total Intangibles $ 30,987 $ 778 $ 30,209 Gross Accumulated Carrying ($ in thousands) Amount Amortization Amount June 30, 2020 Trademarks Wholesale $ 27,192 - $ 27,192 Retail 2,900 - 2,900 Patents 895 $ 763 132 Total Intangibles $ 30,987 $ 763 $ 30,224
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, ($ in thousands) 2021 2020 2021 2020 Amortization expense $ 918 $ 8 $ 925 $ 16
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Amortization ($ in thousands) Expense 2021 $ 1,576 2022 3,149 2023 3,147 2024 3,143 2025 3,139 2026+ 31,938

Note 10 - Long-term Debt (Table

Note 10 - Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Qualitative Measure of Debt Facility [Table Text Block]	Average Availability as a Revolver Pricing Level (1) Percentage of Commitments Base Rate LIBOR Rate Base Rate for FILO LIBOR Rate for FILO I > 66.7% 0.00 % 1.25 % 0.50 % 1.75 % II >33.3% and < or equal to 66.7% 0.00 % 1.50 % 0.50 % 2.00 % III < or equal to 33.3% 0.25 % 1.75 % 0.75 % 2.25 %
Schedule of Debt [Table Text Block]	June 30, ($ in thousands) 2021 Term Facility that matures in 2026 with an effective interest rate of 8.00% $ 129,188 ABL Facility that matures in 2026: LIBOR borrowings with an effective interest rate of 1.63% 40,000 Prime borrowings with an effective interest rate of 3.25% 22,200 Total debt 191,388 Less: Unamortized debt issuance costs (4,017 ) Total debt, net of debt issuance costs 187,371 Less: Debt maturing within one year (3,250 ) Long-term debt $ 184,121
Schedule of Revolving Advances [Table Text Block]	Applicable Spread Rates for Applicable Spread Rates Domestic Rate Average Excess Revolver Availability for Eurodollar Rate Revolving Revolver Pricing Level for Previous Quarter Revolving Advances Advances I $25,000,000+ 1.00 % 0.50 % II $17,500,000 to < 25,000,000 1.25 % 0.50 % III $10,000,000 to < 17,500,000 1.50 % 2.50 % IV $< 10,000,000 1.75 % 0.00 %

Note 11 - Taxes (Tables)

Note 11 - Taxes (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Summary of Income Tax Examinations [Table Text Block]	Earliest Exam Year Taxing Authority Jurisdiction: U.S. Federal 2017 China 2017 Various U.S. States 2016 Puerto Rico (U.S. Territory) 2015 Canada 2015
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Effective Tax Rate 23.0 % 20.0 % 23.0 % 20.3 %

Note 12 - Earnings Per Share (T

Note 12 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, (shares in thousands) 2021 2020 2021 2020 Basic - weighted average shares outstanding 7,283 7,312 7,271 7,332 Dilutive stock options 156 22 132 28 Diluted - weighted average shares outstanding 7,439 7,334 7,402 7,360 Anti-dilutive securities 25 188 25 187

Note 13 - Supplemental Cash F_2

Note 13 - Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	($ in thousands) 2021 2020 Interest paid $ 1,625 $ 118 Federal, state, and local income taxes paid, net $ 5,771 $ 7 Change in contract receivables, net $ 3,153 $ 3,492 Change in contract liabilities, net $ (3,565 ) $ (3,492 ) Property, plant, and equipment purchases in accounts payable $ 855 $ 462 Preliminary working capital true-up related to acquired business $ 5,835 $ -

Note 14 - Segment Information (

Note 14 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, ($ in thousands) 2021 2020 2021 2020 NET SALES: Wholesale $ 101,142 $ 34,281 $ 160,261 $ 69,267 Retail 22,344 16,329 46,328 33,218 Contract Manufacturing 8,116 5,576 12,679 9,420 Total Net Sales $ 131,602 $ 56,186 $ 219,268 $ 111,905 GROSS MARGIN: Wholesale $ 36,291 $ 10,776 $ 58,530 $ 22,017 Retail 11,094 7,853 22,643 15,307 Contract Manufacturing 1,769 833 3,119 1,457 Total Gross Margin $ 49,154 $ 19,462 $ 84,292 $ 38,781

Note 1 - Nature of Operations_2

Note 1 - Nature of Operations and Basis of Presentation (Details Textual)	6 Months Ended
	Jun. 30, 2021
Number of Reportable Segments	3

Note 4 - Acquisition (Details T

Note 4 - Acquisition (Details Textual) - Honeywell International, Inc. [Member] - USD ($) $ in Thousands	Mar. 15, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Business Combination, Consideration Transferred, Total	$ 230,000
Payments to Acquire Businesses, Gross	$ 207,000
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)	25,000
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		$ 50,700		$ 57,200
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual		100		700
Business Combination, Acquisition Related Costs		2,300	$ 0	7,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables, Allowance for Doubtful Accounts	$ 200
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory	$ 3,500
Expense Related to Step Up Value of Acquired Inventory		$ 2,300		$ 2,600

Note 4 - Acquisition - Consider

Note 4 - Acquisition - Consideration Paid for the Acquisition (Details) - USD ($) $ in Thousands		Mar. 15, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Goodwill (3)			$ 48,375	$ 0	$ 0
Total cash paid, net of cash acquired			$ 206,970	$ 0
Honeywell International, Inc. [Member]
Cash		$ 2,655
Accounts receivable (1)	[1]	36,734
Inventories (2)	[2]	42,453
Property, plant and equipment		16,240
Goodwill (3)	[3]	48,375
Intangible assets		98,620
Other assets		933
Accounts payable		(17,743)
Accrued expenses		(12,807)
Total identifiable net assets		215,460
Cash acquired		(2,655)
Payable to Seller (4)	[4]	(5,835)
Total cash paid, net of cash acquired		$ 206,970
[1]	The recorded amount for accounts receivable considers expected uncollectible amounts of approximately $0.2 million in its determination of fair value.
[2]	Fair value of finished goods inventories included a preliminary step up value of approximately $3.5 million, of which approximately $2.3 and $2.6 million was expensed during the three and six months ended June 30, 2021, respectively, and is included in "Cost of Goods Sold" in the accompanying unaudited condensed consolidated statements of operations.
[3]	Goodwill consists largely consists of the acquired workforce, expected cost synergies and economies of scale resulting from the Acquisition.
[4]	Represents the preliminary amount owed to the seller, Honeywell, based on the preliminary working capital true-up and is included in "Accounts Payable" in the accompanying unaudited condensed consolidated balance sheet.

Note 4 - Acquisition - Unaudite

Note 4 - Acquisition - Unaudited Pro Forma Financial Information (Details) - Honeywell International, Inc. [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021		Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net sales	$ 131,602		$ 90,255	$ 257,947	$ 184,885
Net income	$ 6,154	[1]	$ 3,081	$ 20,103	$ 5,581
Diluted earnings per share (in dollars per share)	$ 0.83		$ 0.42	$ 2.72	$ 0.76
[1]	The Acquisition-related costs mentioned above are excluded from the unaudited pro forma net income.

Note 5 - Revenue (Details Textu

Note 5 - Revenue (Details Textual)	6 Months Ended
	Jun. 30, 2021
Number of Operating Segments	3
Maximum [Member]
Contract with Customer, Period (Year)	1 year
Capitalized Contract Cost, Amortization Period (Year)	1 year

Note 5 - Revenue - Contract Lia

Note 5 - Revenue - Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Contract liabilities	$ 2,017	$ 5,582	$ 1,254

Note 5 - Revenue - Changes in C

Note 5 - Revenue - Changes in Contract Liabilities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Balance	$ 5,582
Non-cancelable contracts with customers entered into during the period	2,017
Revenue recognized related to non-cancelable contracts with customers during the period	(5,582)
Balance	$ 2,017

Note 6 - Trade Receivables (Det

Note 6 - Trade Receivables (Details Textual) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Accounts Receivable, Allowance for Credit Loss, Current	$ 1,062,000	$ 242,000	$ 278,000
Contract with Customer, Refund Liability, Current	$ 2,057,000	$ 1,348,000	$ 805,000

Note 7 - Inventory (Details Tex

Note 7 - Inventory (Details Textual) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Contract with Customer, Returns Reserve Asset	$ 955,000	$ 744,000	$ 473,000

Note 7 - Inventory - Schedule o

Note 7 - Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Raw materials	$ 22,105	$ 12,875	$ 14,130
Work-in-process	1,668	1,128	1,189
Finished goods	119,743	63,573	59,227
Total	$ 143,516	$ 77,576	$ 74,546

Note 8 - Goodwill (Details Text

Note 8 - Goodwill (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)
Number of Reportable Segments	3
Goodwill, Ending Balance	$ 48,375	$ 0	$ 0
Contract Manufacturing [Member]
Goodwill, Ending Balance	$ 0

Note 9 - Identified Intangibl_3

Note 9 - Identified Intangible Assets (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021		Mar. 15, 2021
Patents [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	3 years 2 months 12 days
Trademarks [Member] | Wholesale [Member]
Indefinite-lived Intangible Assets (Excluding Goodwill), Ending Balance	$ 72,592	[1]	$ 45,400
Trademarks [Member] | Retail [Member]
Indefinite-lived Intangible Assets (Excluding Goodwill), Ending Balance	$ 9,220	[2]	$ 6,300
[1]	$45.4 million of the total resulted from our Acquisition that occurred on March 15, 2021.
[2]	$6.3 million of the total resulted from our Acquisition that occurred on March 15, 2021.

Note 9 - Identified Intangibl_4

Note 9 - Identified Intangible Assets - Identified Intangible Assets (Details) - USD ($) $ in Thousands		Jun. 30, 2021		Mar. 15, 2021	Dec. 31, 2020	Jun. 30, 2020
Accumulated amortization		$ 1,703			$ 778	$ 763
Total Intangibles		129,607
Carrying amount		127,904			30,209	30,224
Gross amount					30,987	30,987
Carrying amount		127,904			30,209	30,224
Patents [Member]
Gross amount, finite-lived intangible assets		895
Accumulated amortization		791			778	763
Carrying amount, finite-lived intangible assets		104
Gross amount					895	895
Carrying amount					117	132
Customer Relationships [Member]
Gross amount, finite-lived intangible assets	[1]	46,900
Accumulated amortization	[1]	912
Carrying amount, finite-lived intangible assets	[1]	45,988
Trademarks [Member] | Wholesale [Member]
Indefinite-lived Intangible Assets (Excluding Goodwill), Ending Balance		72,592	[2]	$ 45,400
Accumulated amortization					0	0
Gross amount					27,192	27,192
Carrying amount					27,192	27,192
Trademarks [Member] | Retail [Member]
Indefinite-lived Intangible Assets (Excluding Goodwill), Ending Balance		$ 9,220	[3]	$ 6,300
Accumulated amortization					0	0
Gross amount					2,900	2,900
Carrying amount					$ 2,900	$ 2,900
[1]	Resulted from our Acquisition that occurred on March 15, 2021.
[2]	$45.4 million of the total resulted from our Acquisition that occurred on March 15, 2021.
[3]	$6.3 million of the total resulted from our Acquisition that occurred on March 15, 2021.

Note 9 - Identified Intangibl_5

Note 9 - Identified Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Amortization expense	$ 918	$ 8	$ 925	$ 16

Note 9 - Identified Intangibl_6

Note 9 - Identified Intangible Assets - Expected Amortization Expense (Details) $ in Thousands	Jun. 30, 2021USD ($)
2021	$ 1,576
2022	3,149
2023	3,147
2024	3,143
2025	3,139
2026+	$ 31,938

Note 10 - Long-term Debt (Detai

Note 10 - Long-term Debt (Details Textual) - USD ($)	Jul. 01, 2021	Mar. 15, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Feb. 13, 2019
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 75,000,000
Line of Credit Facility, Additional Increase in Maximum Borrowing Capacity						25,000,000
Long-term Line of Credit, Total				$ 0	$ 0
Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 7,500,000
Term Facility [Member]
Debt Instrument, Face Amount		$ 130,000,000
Debt Instrument, LIBOR Floor		1.00%
Term Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		7.00%
Term Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Forecast [Member]
Debt Instrument, Basis Spread on Variable Rate if Total Average Leverage Ratio is Greater or Equal to 3.25	7.00%
Debt Instrument, Basis Spread on Variable Rate if Total Average Leverage Ratio is Less Than 3.25	6.50%
Term Facility [Member] | Prime Rate [Member] | Forecast [Member]
Debt Instrument, Basis Spread on Variable Rate if Total Average Leverage Ratio is Greater or Equal to 3.25	6.00%
Debt Instrument, Basis Spread on Variable Rate if Total Average Leverage Ratio is Less Than 3.25	5.50%
The ABL Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 150,000,000
Line of Credit Facility, Additional Borrowing Capacity upon Request		50,000,000
Line of Credit Facility, Remaining Borrowing Capacity			$ 71,100,000
Debt Instrument, Collateral Fee		75,000
The ABL Facility [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 5,000,000
The ABL Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			1.63%
The ABL Facility [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			3.25%

Note 10 - Long-term Debt - Debt

Note 10 - Long-term Debt - Debt Facility Information (Details)		Mar. 15, 2021	Jun. 30, 2021
London Interbank Offered Rate (LIBOR) [Member] | The ABL Facility [Member]
Variable rate			1.63%
Commitments Above 66.7% [Member] | Base Rate [Member] | The ABL Facility [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	0.00%
Commitments Above 66.7% [Member] | Base Rate [Member] | The ABL Facility FILO Borrowings [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	0.50%
Commitments Above 66.7% [Member] | London Interbank Offered Rate (LIBOR) [Member] | The ABL Facility [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	1.25%
Commitments Above 66.7% [Member] | London Interbank Offered Rate (LIBOR) [Member] | The ABL Facility FILO Borrowings [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	1.75%
Commitmeents Between 33.3% and 66.7% [Member] | Base Rate [Member] | The ABL Facility [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	0.00%
Commitmeents Between 33.3% and 66.7% [Member] | Base Rate [Member] | The ABL Facility FILO Borrowings [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	0.50%
Commitmeents Between 33.3% and 66.7% [Member] | London Interbank Offered Rate (LIBOR) [Member] | The ABL Facility [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	1.50%
Commitmeents Between 33.3% and 66.7% [Member] | London Interbank Offered Rate (LIBOR) [Member] | The ABL Facility FILO Borrowings [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	2.00%
Commitments Below 33.3% [Member] | Base Rate [Member] | The ABL Facility [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	0.25%
Commitments Below 33.3% [Member] | Base Rate [Member] | The ABL Facility FILO Borrowings [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	0.75%
Commitments Below 33.3% [Member] | London Interbank Offered Rate (LIBOR) [Member] | The ABL Facility [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	1.75%
Commitments Below 33.3% [Member] | London Interbank Offered Rate (LIBOR) [Member] | The ABL Facility FILO Borrowings [Member] | Revolving Credit Facility [Member]
Variable rate	[1]	2.25%
[1]	Until June 30, 2021, Tier II shall apply.

Note 10 - Long-term Debt - Curr

Note 10 - Long-term Debt - Current and Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Debt	$ 191,388
Less: Unamortized debt issuance costs	(4,017)
Total debt, net of debt issuance costs	187,371
Less: Debt maturing within one year	(3,250)	$ 0	$ 0
Long-term debt	184,121	$ 0	$ 0
Term Facility [Member]
Debt	129,188
The ABL Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt	40,000
The ABL Facility [Member] | Prime Rate [Member]
Debt	$ 22,200

Note 10 - Long-term Debt - Cu_2

Note 10 - Long-term Debt - Current and Long-term Debt (Details) (Parentheticals)	Mar. 15, 2021	Jun. 30, 2021
Term Facility [Member]
Interest rate		8.00%
Term Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Variable rate	7.00%
The ABL Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Variable rate		1.63%
The ABL Facility [Member] | Prime Rate [Member]
Variable rate		3.25%

Note 10 - Long-term Debt - Cred

Note 10 - Long-term Debt - Credit Agreement (Details) - Revolving Credit Facility [Member]	6 Months Ended
	Jun. 30, 2021
Average Excess Revolver Availability of $25,000,000 or More [Member] | Eurodollar [Member]
Variable rate	1.00%
Average Excess Revolver Availability of $25,000,000 or More [Member] | Domestic Rate [Member]
Variable rate	0.50%
Average Excess Revolver Availability of $17,500,000 to Less Than 25,000,000 [Member] | Eurodollar [Member]
Variable rate	1.25%
Average Excess Revolver Availability of $17,500,000 to Less Than 25,000,000 [Member] | Domestic Rate [Member]
Variable rate	0.50%
Average Excess Revolver Availability of $10,000,000 to Less Than 17,500,000 [Member] | Eurodollar [Member]
Variable rate	1.50%
Average Excess Revolver Availability of $10,000,000 to Less Than 17,500,000 [Member] | Domestic Rate [Member]
Variable rate	2.50%
Average Excess Revolver Availability of Less Than $10,000,000 [Member] | Eurodollar [Member]
Variable rate	1.75%
Average Excess Revolver Availability of Less Than $10,000,000 [Member] | Domestic Rate [Member]
Variable rate	0.00%

Note 11 - Taxes (Details Textua

Note 11 - Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total	$ 0	$ 0	$ 0	$ 0
Unrecognized Tax Benefits, Ending Balance	$ 0		$ 0

Note 11 - Taxes - Tax Examinati

Note 11 - Taxes - Tax Examinations (Details)	6 Months Ended
	Jun. 30, 2021
Domestic Tax Authority [Member]
Open tax year	2017
Foreign Tax Authority [Member] | State Administration of Taxation, China [Member]
Open tax year	2017
Foreign Tax Authority [Member] | Departamento de Hacienda de Puerto Rico [Member]
Open tax year	2015
Foreign Tax Authority [Member] | Canada Revenue Agency [Member]
Open tax year	2015
State and Local Jurisdiction [Member]
Open tax year	2016

Note 11 - Taxes - Effective Tax

Note 11 - Taxes - Effective Tax Rate (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Effective Tax Rate	23.00%	20.00%	23.00%	20.30%

Note 12 - Earnings Per Share -

Note 12 - Earnings Per Share - Basic and Diluted Income Per Common Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Basic (in shares)	7,283	7,312	7,271	7,332
Dilutive stock options (in shares)	156	22	132	28
Diluted - weighted average shares outstanding (in shares)	7,439	7,334	7,402	7,360
Anti-dilutive securities (in shares)	25	188	25	187

Note 13 - Supplemental Cash F_3

Note 13 - Supplemental Cash Flow Information - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest paid	$ 1,625	$ 118
Federal, state, and local income taxes paid, net	5,771	7
Change in contract receivables, net	3,153	3,492	$ 3,153	$ 3,492
Change in contract liabilities, net	(3,565)	(3,492)	$ (3,565)	$ (3,492)
Property, plant, and equipment purchases in accounts payable	855	462
Preliminary working capital true-up related to acquired business	$ 5,835	$ 0

Note 14 - Segment Information_2

Note 14 - Segment Information (Details Textual)	6 Months Ended
	Jun. 30, 2021
Number of Reportable Segments	3

Note 14 - Segment Information -

Note 14 - Segment Information - Summary of Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
NET SALES	$ 131,602	$ 56,186	$ 219,268	$ 111,905
GROSS MARGIN	49,154	19,462	84,292	38,781
Wholesale [Member]
NET SALES	101,142	34,281	160,261	69,267
GROSS MARGIN	36,291	10,776	58,530	22,017
Retail [Member]
NET SALES	22,344	16,329	46,328	33,218
GROSS MARGIN	11,094	7,853	22,643	15,307
Contract Manufacturing [Member]
NET SALES	8,116	5,576	12,679	9,420
GROSS MARGIN	$ 1,769	$ 833	$ 3,119	$ 1,457

Uncategorized Items - rcky20210

Label	Element	Value
us-gaap_StockRepurchasedDuringPeriodValue	us-gaap_StockRepurchasedDuringPeriodValue	$ 1,000,000
Stock compensation expense	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	202,000
Stock issued for options exercised, including tax benefits	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense	0
us-gaap_DividendsCommonStockCash	us-gaap_DividendsCommonStockCash	1,030,000
Retained Earnings [Member]
Net income	us-gaap_NetIncomeLoss	1,188,000
us-gaap_DividendsCommonStockCash	us-gaap_DividendsCommonStockCash	1,030,000
Common Stock Including Additional Paid in Capital [Member]
us-gaap_StockRepurchasedDuringPeriodValue	us-gaap_StockRepurchasedDuringPeriodValue	$ 1,000,000
Stock issued for options exercised, including tax benefits (in shares)	us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised	0
Stock compensation expense	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	$ 202,000
Stock compensation expense (in shares)	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	4,000
us-gaap_StockRepurchasedDuringPeriodShares	us-gaap_StockRepurchasedDuringPeriodShares	50,000