Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Mar. 02, 2023 | Jun. 30, 2022 | |
Document Information [Line Items] | ||||
Entity Central Index Key | 0000095574 | |||
Entity Registrant Name | SUPERIOR GROUP OF COMPANIES, INC. | |||
Amendment Flag | false | |||
Current Fiscal Year End Date | --12-31 | |||
Document Fiscal Period Focus | FY | |||
Document Fiscal Year Focus | 2022 | |||
Document Type | 10-K | |||
Document Annual Report | true | |||
Document Period End Date | Dec. 31, 2022 | |||
Document Transition Report | false | |||
Entity File Number | 001-05869 | |||
Entity Incorporation, State or Country Code | FL | |||
Entity Tax Identification Number | 11-1385670 | |||
Entity Address, Address Line One | 10055 Seminole Blvd. | |||
Entity Address, City or Town | Seminole | |||
Entity Address, State or Province | FL | |||
Entity Address, Postal Zip Code | 33772 | |||
City Area Code | 727 | |||
Local Phone Number | 397-9611 | |||
Title of 12(b) Security | Common Stock, par value $0.001 per share | |||
Trading Symbol | SGC | |||
Security Exchange Name | NASDAQ | |||
Entity Well-known Seasoned Issuer | No | |||
Entity Voluntary Filers | No | |||
Entity Current Reporting Status | Yes | |||
Entity Interactive Data Current | Yes | |||
Entity Filer Category | Accelerated Filer | |||
Entity Small Business | true | |||
Entity Emerging Growth Company | false | |||
ICFR Auditor Attestation Flag | true | |||
Entity Shell Company | false | |||
Entity Public Float | $ 189,000,000 | |||
Entity Common Stock, Shares Outstanding | 16,495,730 | |||
Auditor Firm ID | 248 | 199 | ||
Auditor Name | GRANT THORNTON LLP | Mayer Hoffman McCann P.C. | ||
Auditor Location | Tampa, Florida | St. Petersburg, Florida |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Net sales | $ 578,831 | $ 536,986 |
Costs and expenses: | ||
Cost of goods sold | 385,472 | 350,972 |
Selling and administrative expenses | 176,320 | 142,060 |
Goodwill impairment charge | 45,918 | 0 |
Intangible assets impairment charge | 5,581 | 0 |
Other periodic pension costs | 2,116 | 1,786 |
Pension plan termination charge | 0 | 7,821 |
Interest expense | 4,894 | 1,220 |
Costs and Expenses, Excluding Gain on Sale of Property Plant and Equipment | 620,301 | 503,859 |
Gain on sale of property, plant and equipment | 3,435 | 0 |
Income (loss) before taxes on income | (38,035) | 33,127 |
Income tax expense (benefit) | (6,065) | 3,687 |
Net income (loss) | $ (31,970) | $ 29,440 |
Net income (loss) per share: | ||
Net income per share, basic (in dollars per share) | $ (2.03) | $ 1.91 |
Net income per share, diluted (in dollars per share) | $ (2.03) | $ 1.83 |
Weighted average shares outstanding during the period: | ||
Weighted average number of shares outstanding during the period, basic (in shares) | 15,764,859 | 15,438,849 |
Weighted average number of shares outstanding during the period, diluted (in shares) | 15,764,859 | 16,091,070 |
Other comprehensive income (loss), net of tax: | ||
Recognition of net losses included in net periodic pension costs | $ 1,276 | $ 1,662 |
Recognition of settlement loss included in net periodic pension costs | 0 | 0 |
Recognition of net losses included in pension plan termination charges | 0 | 5,230 |
Current period gain (loss) | 2,188 | (571) |
Loss on cash flow hedging activities | (47) | (23) |
Foreign currency translation adjustment | (215) | (310) |
Other comprehensive income (loss) | 3,202 | 5,988 |
Comprehensive income (loss) | $ (28,768) | $ 35,428 |
Cash dividends per common share (in dollars per share) | $ 0.54 | $ 0.46 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 17,722 | $ 8,935 |
Accounts receivable, less allowance for doubtful accounts of $7,622 and $6,393, respectively | 104,813 | 107,053 |
Accounts receivable - other | 3,326 | 5,546 |
Inventories | 124,976 | 120,555 |
Contract assets | 52,980 | 38,018 |
Prepaid expenses and other current assets | 14,166 | 19,162 |
Total current assets | 317,983 | 299,269 |
Property, plant and equipment, net | 51,392 | 49,690 |
Operating lease right-of-use assets | 9,113 | 8,246 |
Deferred tax asset | 10,718 | 0 |
Intangible assets, net | 55,753 | 60,420 |
Goodwill | 0 | 39,434 |
Other assets | 11,982 | 13,186 |
Total assets | 456,941 | 470,245 |
Current liabilities: | ||
Accounts payable | 42,060 | 52,340 |
Other current liabilities | 38,646 | 38,989 |
Current portion of long-term debt | 3,750 | 15,286 |
Current portion of acquisition-related contingent liabilities | 736 | 4,507 |
Total current liabilities | 85,192 | 111,122 |
Long-term debt | 151,567 | 100,845 |
Long-term pension liability | 12,864 | 15,420 |
Long-term acquisition-related contingent liabilities | 2,245 | 2,569 |
Long-term operating lease liabilities | 3,936 | 3,729 |
Deferred tax liability | 0 | 359 |
Other long-term liabilities | 8,538 | 9,211 |
Commitments and contingencies (Note 12) | ||
Shareholders’ equity: | ||
Preferred stock, $.001 par value - authorized 300,000 shares (none issued) | 0 | 0 |
Common stock, $.001 par value - authorized 50,000,000 shares, issued and outstanding - 16,376,683 and 16,127,505 shares, respectively | 16 | 16 |
Additional paid-in capital | 72,615 | 69,351 |
Retained earnings | 122,979 | 163,836 |
Accumulated other comprehensive income (loss), net of tax: | ||
Pensions | (1,113) | (4,577) |
Cash flow hedges | 0 | 47 |
Foreign currency translation adjustment | (1,898) | (1,683) |
Total shareholders’ equity | 192,599 | 226,990 |
Total liabilities and shareholders’ equity | $ 456,941 | $ 470,245 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Accounts receivable, allowance for doubtful accounts | $ 7,622 | $ 6,393 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 300,000 | 300,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 16,376,683 | 16,127,505 |
Common stock, shares outstanding (in shares) | 16,376,683 | 16,127,505 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Restricted Stock [Member] Common Stock [Member] | Restricted Stock [Member] Additional Paid-in Capital [Member] | Restricted Stock [Member] | Stock Appreciation Rights (SARs) [Member] Additional Paid-in Capital [Member] | Stock Appreciation Rights (SARs) [Member] | Performance Shares [Member] Common Stock [Member] | Performance Shares [Member] Additional Paid-in Capital [Member] | Performance Shares [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 15,391,660 | ||||||||||||||
Balance at Dec. 31, 2020 | $ 15 | $ 61,844 | $ 141,972 | $ (12,201) | $ 191,630 | ||||||||||
Common shares issued upon exercise of options and SARs, net (in shares) | 308,550 | ||||||||||||||
Common shares issued upon exercise of options and SARs, net | $ 1 | 3,041 | (339) | 2,703 | |||||||||||
Performance based shares issued (in shares) | 42,823 | ||||||||||||||
Performance based shares issued | 0 | ||||||||||||||
Restricted shares issued (in shares) | 338,852 | ||||||||||||||
Restricted shares issued | 0 | ||||||||||||||
Restricted shares issued in conjunction with acquisition of business (in shares) | 45,620 | ||||||||||||||
Restricted shares issued in conjunction with acquisition of business | $ 869 | $ 869 | |||||||||||||
Share-based compensation expense | 4,010 | 4,010 | |||||||||||||
Tax withheld on exercise of share-based compensation | $ (179) | $ (179) | $ (405) | $ (405) | |||||||||||
Tax benefit from vesting of acquisition-related restricted stock | 171 | 171 | |||||||||||||
Cash dividends declared | (7,237) | (7,237) | |||||||||||||
Net earnings (loss) | 29,440 | 29,440 | |||||||||||||
Cash flow hedges, net of taxes | (23) | (23) | |||||||||||||
Pensions, net of taxes | 6,321 | 6,321 | |||||||||||||
Change in currency translation adjustment, net of taxes | (310) | (310) | |||||||||||||
Common shares issued upon exercise of options and SARs, net | $ 1 | 3,041 | (339) | 2,703 | |||||||||||
Restricted shares issued, net of forfeitures | $ 0 | ||||||||||||||
Balance (in shares) at Dec. 31, 2021 | 16,127,505 | 16,127,505 | |||||||||||||
Balance at Dec. 31, 2021 | $ (76) | $ (76) | $ 16 | 69,351 | 163,836 | (6,213) | $ 226,990 | ||||||||
Common shares issued upon exercise of options and SARs, net | 886 | (158) | 728 | ||||||||||||
Performance based shares issued (in shares) | 48,044 | 11,707 | |||||||||||||
Performance based shares issued | $ 0 | ||||||||||||||
Restricted shares issued | 0 | ||||||||||||||
Restricted shares issued in conjunction with acquisition of business (in shares) | 116,550 | ||||||||||||||
Restricted shares issued in conjunction with acquisition of business | $ 2,000 | 2,000 | |||||||||||||
Share-based compensation expense | 4,289 | 4,289 | |||||||||||||
Tax withheld on exercise of share-based compensation | (314) | (314) | |||||||||||||
Cash dividends declared | (8,653) | (8,653) | |||||||||||||
Net earnings (loss) | (31,970) | (31,970) | |||||||||||||
Cash flow hedges, net of taxes | (47) | (47) | |||||||||||||
Pensions, net of taxes | 3,464 | 3,464 | |||||||||||||
Change in currency translation adjustment, net of taxes | (215) | $ (215) | |||||||||||||
Common shares issued upon exercise of options and SARs, net (in shares) | 80,434 | 85,840 | |||||||||||||
Common shares issued upon exercise of options and SARs, net | 886 | (158) | $ 728 | ||||||||||||
Restricted shares issued, net of forfeitures | $ 0 | ||||||||||||||
Tax withheld on vesting of restricted shares and performance based shares (in shares) | (7,557) | ||||||||||||||
Written put options | (3,597) | $ (3,597) | |||||||||||||
Balance (in shares) at Dec. 31, 2022 | 16,376,683 | 16,376,683 | |||||||||||||
Balance at Dec. 31, 2022 | $ 16 | $ 72,615 | $ 122,979 | $ (3,011) | $ 192,599 |
Consolidated Statements of Sh_2
Consolidated Statements of Shareholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cash dividends declared, per share (in dollars per share) | $ 0.54 | $ 0.46 |
Cash flow hedges, tax | $ 6 | $ 3 |
Pensions, tax | 1,281 | 2,636 |
Change in currency translation adjustment, tax | $ 0 | $ 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) | $ (31,970) | $ 29,440 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 13,004 | 9,291 |
Goodwill impairment charge | 45,918 | 0 |
Intangible assets impairment charge | 5,581 | 0 |
Inventory write-downs | 13,569 | 2,771 |
Provision for bad debts - accounts receivable | 2,891 | 2,260 |
Share-based compensation expense | 4,289 | 4,010 |
Deferred income tax benefit | (12,352) | (2,724) |
Gain on sale of property, plant and equipment | (3,435) | 0 |
Change in fair value of acquisition-related contingent liabilities | (450) | 2,936 |
Change in fair value of written put options | (1,565) | 0 |
Defined Benefit Plan, Termination Charge | 0 | 7,821 |
Changes in assets and liabilities, net of acquisition of businesses: | ||
Accounts receivable | 680 | (2,575) |
Accounts receivable - other | 1,347 | (4,189) |
Contract assets | (15,092) | 1,212 |
Inventories | (15,898) | (24,524) |
Prepaid expenses and other current assets | 5,225 | (7,852) |
Other assets | 1,858 | (2,325) |
Accounts payable and other current liabilities | (14,614) | 1,007 |
Payment of acquisition-related contingent liabilities | (3,346) | (4,221) |
Long-term pension liability | 2,190 | 1,951 |
Other long-term liabilities | (434) | 2,791 |
Net cash provided by operating activities | (2,604) | 17,080 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Additions to property, plant and equipment | (11,018) | (17,696) |
Proceeds from disposals of property, plant and equipment | 4,795 | 0 |
Acquisition of businesses | (11,202) | (16,434) |
Net cash used in investing activities | (17,425) | (34,130) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from borrowings of debt | 332,143 | 250,608 |
Repayment of debt | (292,773) | (223,025) |
Debt issuance costs | (869) | 0 |
Payment of cash dividends | (8,653) | (7,237) |
Payment of acquisition-related contingent liabilities | (1,416) | (1,641) |
Proceeds received on exercise of stock options | 728 | 2,703 |
Tax withholdings on vesting of restricted shares and performance based shares and on exercise of stock rights | (314) | (584) |
Tax benefit from vesting of acquisition-related restricted stock | 0 | 171 |
Common stock reacquired and retired | 0 | 0 |
Net cash provided by (used in) financing activities | 28,846 | 20,995 |
Effect of currency exchange rates on cash | (30) | (182) |
Net increase (decrease) in cash and cash equivalents | 8,787 | 3,763 |
Cash and cash equivalents balance, beginning of year | 8,935 | 5,172 |
Cash and cash equivalents balance, end of year | 17,722 | 8,935 |
Supplemental disclosure of cash flow information: | ||
Income taxes paid | 1,348 | 14,632 |
Interest paid | $ 4,767 | $ 1,298 |
Note 1 - Description of Busines
Note 1 - Description of Business, Basis of Presentation and Summary of Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1 Description of business Superior Group of Companies, Inc. (together with its subsidiaries, “the Company,” “Superior,” “we,” “our,” or “us”) was organized in 1920 1922 1998, May 3, 2018, Superior’s Branded Products segment, primarily through its signature marketing brands BAMKO® and HPI®, produces and sells customized merchandising solutions, promotional products and branded uniform programs. Branded products are manufactured through third Superior’s Healthcare Apparel segment, primarily through its signature marketing brands Fashion Seal Healthcare® and WonderWink® (also referred to as “Wink”), manufactures (through third Superior’s Contact Centers segment, through multiple The Office Gurus® entities, including subsidiaries in El Salvador, Belize, Jamaica, Dominican Republic and the United States (collectively, “TOG”), provides outsourced, nearshore business process outsourcing, contact and call-center support services to North American customers. Basis of presentation The accompanying consolidated financial statements of Superior included herein have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) (“U.S.” or “United States”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The Company refers to the consolidated financial statements collectively as “financial statements,” and individually as “statements of comprehensive income (loss),” “balance sheets,” “statements of shareholders’ equity,” and “statements of cash flows” herein. Change in Reportable Segments Beginning in the second 2022, not no Note 17 Note 6 Reclassifications The accompanying financial statements for the previous year contain certain reclassifications to conform to the presentation used in the current period. Reclassifications only impact items within net cash provided by operating activities and Note 6 no Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenue and expenses, as well as the disclosures of contingent assets and liabilities. Because of the inherent uncertainties in this process, actual future results could differ from those expected at the reporting date. Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three Revenue recognition Revenue is recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. See Note 15 Accounts receivable and allowance for doubtful accounts Judgments and estimates are used in determining the collectability of accounts receivable and in establishing allowances for doubtful accounts. The Company analyzes specific accounts receivable and historical bad debt experience, customer credit worthiness, current economic trends and the age of outstanding balances when evaluating the adequacy of the allowance for doubtful accounts. Changes in estimates are reflected in the period they become known. Charge-offs of accounts receivable are made once all collection efforts have been exhausted. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may Cost of goods sold and shipping and handling fees and costs Cost of goods sold for our Branded Products segment and our Healthcare Apparel segment consist primarily of direct costs of acquiring inventory, including cost of merchandise, inbound freight charges, purchasing, receiving and inspection costs. Cost of goods sold for our Contact Centers segment includes salaries and payroll related benefits for agents. The Company includes shipping and handling fees billed to customers in net sales. Shipping and handling costs associated with out-bound freight are recorded in cost of goods sold. The cost of occupancy and operating the Company’s distribution centers are included in selling and administrative expenses. Inventories Inventories are stated at the lower of cost ( first first may Property, plant and equipment Property, plant and equipment are stated at cost, less accumulated depreciation. Major renewals and improvements are capitalized, while replacements, maintenance and repairs which do not 31, 2022, Property, plant and equipment is recorded at cost and depreciated using the straight-line method over its estimated useful life as follows: Buildings (in years) 20 to 40 Improvements (in years) 5 to 40 Machinery, equipment and fixtures (in years) 3 to 10 Leasehold improvements are depreciated over the terms of the leases to the extent that such improvements have useful lives of at least the terms of the respective leases. Impairment of long-lived assets Long-lived assets, such as property and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not no December 31, 2022 2021 Goodwill and indefinite-lived intangible assets The Company has made acquisitions in the past that included goodwill and indefinite-lived intangible assets. Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Goodwill and indefinite-lived intangible assets such as trade names are not fourth may not • macroeconomic conditions such as deterioration in general economic conditions, limitations on accessing capital, or other developments in equity and credit markets; • industry and market considerations such as a deterioration in the environment in which the Company operates, an increased competitive environment, a decline in market-dependent multiples or metrics (considered in both absolute terms and relative to peers), a change in the market for the Company’s products or services, or a regulatory or political development; • cost factors such as increases in raw materials, labor, or other costs that have a negative effect on earnings and cash flows; • overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods; and • other relevant entity-specific events such as changes in management, key personnel, strategy, or customers. An entity has the option to first not 50% not not three For the year ended December 31, 2021, In conjunction with the re-segmentation during the second 2022, third 2022, December 31, 2022. December 31, 2022, no In conjunction with the Company’s realignment of its reportable segments during the second 2022, no December 31, 2022. December 31, 2022, Contingent Consideration Contingent consideration relating to consideration transferred in exchange for an acquired business is recognized at its estimated fair value at the acquisition date. The contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved. Any changes in fair value are recognized each reporting period in non-cash changes in fair value of estimated contingent consideration in the accompanying statements of comprehensive income (loss). SERP The Company is the sponsor of an unfunded supplemental executive retirement plan (“SERP”) in which several of its current and former employees are participants. In calculating our obligations and related expense, we make various assumptions and estimates, after consulting with outside actuaries and advisors. The annual determination of expense involves calculating the estimated total benefits ultimately payable to plan participants. Significant assumptions related to the calculation of our obligations include the discount rates used to calculate the present value of benefit obligations to be paid in the future. We review these assumptions annually based upon currently available information, including information provided by our actuaries. Insurance The Company self-insures for certain obligations related to employee health programs. The Company also purchases stop-loss insurance policies to protect it from catastrophic losses. Judgments and estimates are used in determining the potential value associated with reported claims and for losses that have occurred, but have not may Taxes on income Income taxes are provided for under the liability method, whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not Note 9 Share-based compensation The Company awards share-based compensation as an incentive for employees to contribute to the Company’s long-term success. The Company grants options, stock-settled stock appreciation rights, restricted stock and performance shares. The Company recognizes share-based compensation expense for all awards granted to employees, which is based on the fair value of the award on the date of grant. Determining the appropriate fair value model and calculating the fair value of stock compensation awards requires the input of certain highly complex and subjective assumptions, including the expected life of the stock compensation awards and the Company’s common stock price volatility, risk free interest rate and dividend rate. The assumptions used in calculating the fair value of stock compensation awards represent management’s best estimates, but these estimates involve inherent uncertainties and the application of judgment. As a result, if factors change and the Company deems it necessary to use different assumptions, stock compensation expense could be materially different from what has been recorded in the current period. Other comprehensive income (loss) Comprehensive income (loss) includes net income (loss) and all other changes in equity during a period except those resulting from investments by or distributions to shareholders. Other comprehensive income (loss) consists of defined benefit pension plans activities, cash flow hedging activities and foreign currency translation adjustment. The related tax effects of these items are recorded in income tax expense (benefit) within the statements of operations, upon reclassification from accumulated other comprehensive income (loss), net of tax. Foreign Currency Translations and Transactions Assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the current rate of exchange on the last day of the reporting period. Changes in the carrying values of these assets and liabilities attributable to fluctuations in spot rates are recognized in net foreign currency translation adjustment, a component of accumulated other comprehensive income (loss), net of tax. Monetary assets and liabilities denominated in a currency that is different from a reporting entity’s functional currency are remeasured from the applicable currency to the reporting entity’s functional currency. Gains or losses resulting from transactions denominated in other currencies are recognized in net income (loss) each period. The majority of the Company’s transactions are settled in U.S. dollars. Risks and concentrations Financial instruments that potentially subject the Company to concentrations of credit risk include cash in banks in excess of federally insured amounts. The Company manages this risk by maintaining all deposits in high quality financial institutions and periodically performing evaluations of the relative credit standing of the financial institutions. When assessing credit risk the Company considers whether the credit risk exists at both the individual and group level. Consideration is given to the activity, region and economic characteristics when assessing if there exists a group concentration risk. At December 31, 2022 2021 no 10 December 31, 2022 2021 five none 10% 2022 No 10% 2022 12% 2022 Principal raw materials used in the manufacture of the Company’s finished goods include cotton, polyester, cotton-synthetic, poly-synthetic blends, textiles, plastic, glass, fabric and metal. The majority of such fabrics are sourced in China, either directly by us or our suppliers. If we are unable to continue to obtain our raw materials and finished products from China or if our suppliers are unable to source raw materials from China, it could significantly disrupt our business. Further, the Company and the Company’s suppliers generally source or manufacture finished goods in parts of the world that may Written Put Options During the second 2022, twenty-four 480, December 31, 2022 December 31, 2022 December 31, 2022 Fair value of financial instruments The carrying amounts of cash and cash equivalents, receivables and accounts payable approximated fair value as of December 31, 2022 2021 Recent Accounting Pronouncements We consider the applicability and impact of all Accounting Standard Updates (“ASUs”). ASUs not not Recently Adopted Accounting Pronouncements In June 2016, 2016 13, Financial Instruments—Credit Losses (Topic 326 January 1, 2022 not In March 2020, 2020 04, Reference Rate Reform (Topic 848 may not no August 23, 2022 Note 8 not Recently Issued Accounting Pronouncements Not The Company has considered all recent accounting pronouncements issued, but not not |
Note 2 - Allowance for Doubtful
Note 2 - Allowance for Doubtful Accounts Receivable | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 2 The activity in the allowance for doubtful accounts receivable was as follows (in thousands): Years Ended December 31, 2022 2021 Balance at the beginning of year $ 6,393 $ 7,667 Provision for bad debts 2,891 2,260 Charge-offs (1,686 ) (3,653 ) Recoveries 24 119 Balance at the end of year $ 7,622 $ 6,393 |
Note 3 - Reserve for Sales Retu
Note 3 - Reserve for Sales Returns and Allowances | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Reserve For Sales Returns And Allowances Disclosure [Text Block] | NOTE 3 The activity in the reserve for sales returns and allowances was as follows (in thousands): Years Ended December 31, 2022 2021 Balance at the beginning of year $ 2,636 $ 3,365 Provision for returns and allowances 4,512 4,911 Actual returns and allowances paid to customers (5,058 ) (5,640 ) Balance at the end of year $ 2,090 $ 2,636 |
Note 4 - Inventories
Note 4 - Inventories | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4 Inventories consisted of the following amounts (in thousands): December 31, 2022 2021 Finished goods $ 94,228 $ 90,395 Work in process 401 1,351 Raw materials 30,347 28,809 Inventories $ 124,976 $ 120,555 |
Note 5 - Property, Plant and Eq
Note 5 - Property, Plant and Equipment, Net | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5 Property, plant and equipment, net, consisted of the following (in thousands): December 31, 2022 2021 Land $ 2,494 $ 3,085 Buildings, improvements and leaseholds 18,652 19,558 Machinery, equipment and fixtures 101,419 91,351 122,565 113,994 Accumulated depreciation (71,173 ) (64,304 ) Property, plant and equipment, net $ 51,392 $ 49,690 Depreciation expense was $7.9 million and $5.1 million in 2022 2021 |
Note 6 - Goodwill and Intangibl
Note 6 - Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 6 Goodwill Beginning in the second 2022, Note 17 350, During the third 2022, The fair value of goodwill in each impairment test was determined using a combination of an income approach, which estimates fair value based upon projections of future revenues, expenses, and cash flows discounted to their respective present values, and a market approach. The valuation methodology and underlying financial information included in the Company’s determination of fair value required significant judgments by management. The principal assumptions used in the Company’s discounted cash flow analysis consisted of (a) long-term projections of financial performance and (b) the weighted-average cost of capital of market participants, adjusted for the risk attributable to the Company and the industry in which it operates. Under the market approach, the principal assumption included an estimate of a control premium. Based on the goodwill impairment analysis performed, the Company determined that the estimated fair values of the previous Uniforms and Related Products segment and current Branded Products segment were lower than their carrying value primarily as the result of current market conditions, decline in expected cash flows and/or decrease in the Company’s stock price. Consequently, the Company recorded a non-cash goodwill impairment charge of $45.9 million during the year ended December 31, 2022 We have reclassified prior period goodwill disclosures to conform to the current period presentation. The following table presents the carrying amounts of goodwill attributable to each of the Company’s reportable segments (dollars in thousands): Branded Products Healthcare Apparel Total As of January 1, 2021: Gross goodwill $ 15,793 $ 20,323 $ 36,116 Accumulated impairment losses - - - Net goodwill $ 15,793 $ 20,323 $ 36,116 Additions $ 3,363 $ - $ 3,363 Foreign currency translation (45 ) - (45 ) Net goodwill, December 31, 2021 $ 19,111 $ 20,323 $ 39,434 As of December 31, 2021: Gross goodwill $ 19,111 $ 20,323 $ 39,434 Accumulated impairment losses - - - Net goodwill $ 19,111 $ 20,323 $ 39,434 Additions $ 6,463 $ - $ 6,463 Impairment charge (25,595 ) (20,323 ) (45,918 ) Foreign currency translation 21 - 21 Net goodwill, December 31, 2022 $ - $ - $ - As of December 31, 2022: Gross goodwill $ 25,595 $ 20,323 $ 45,918 Accumulated impairment losses (25,595 ) (20,323 ) (45,918 ) Net goodwill $ - $ - $ - Intangible Assets In conjunction with the Company’s realignment of its reportable segments during the second 2022, no December 31, 2022 December 31, 2021 December 31, 2022 Indefinite-lived Intangible Assets Segment Carrying Amount, December 31, 2021 Impairment Charges Carrying Amount, December 31, 2022 Trade names: HPI Branded Products $ 4,700 $ - $ 4,700 BAMKO Branded Products 8,900 - 8,900 Public Identity Branded Products 470 (470 ) - Tangerine Branded Products 3,200 (3,200 ) - Gifts By Design Branded Products 1,170 (1,170 ) - Sutter’s Mill Branded Products 741 (741 ) - CID Resources Healthcare Apparel 14,160 - 14,160 Total $ 33,341 $ (5,581 ) $ 27,760 Intangible assets as of December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Item Weighted Average Life (In years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Definite-lived intangible assets: Customer relationships (7-15 year life) 11.7 $ 50,198 $ (23,330 ) $ 45,198 $ (18,772 ) Non-compete agreements (3-7 year life) 5.4 1,712 (1,367 ) 1,536 (1,121 ) Trademarks 10.0 379 (72 ) 275 (37 ) Trade names 2.0 710 (237 ) - - Total $ 52,999 $ (25,006 ) $ 47,009 $ (19,930 ) Indefinite-lived intangible assets: Trade names $ 27,760 $ 33,341 Total intangible assets $ 80,759 $ (25,006 ) $ 80,350 $ (19,930 ) Amortization expense for intangible assets for the years ended December 31, 2022 2021 Estimated future intangible amortization expense is as follows (in thousands): 2023 $ 4,616 2024 3,716 2025 3,066 2026 3,058 2027 3,017 Thereafter 10,520 Total $ 27,993 |
Note 7 - Other Current Liabilit
Note 7 - Other Current Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 7 Other current liabilities consisted of the following (in thousands) December 31, 2022 2021 Salaries, wages, commissions and compensated absences $ 14,316 $ 17,374 Contract liabilities 2,213 8,804 Accrued rebates 2,090 2,526 Current operating lease liabilities 3,135 2,088 Written put options 2,032 - 401K profit sharing accrual - 880 Other accrued expenses 14,860 7,317 Other current liabilities $ 38,646 $ 38,989 |
Note 8 - Long-term Debt
Note 8 - Long-term Debt | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | 8 Debt consisted of the following (in thousands): December 31, 2022 2021 Credit Facilities: Revolving credit facility due August 2027 $ 83,000 $ - Term loan due August 2027 73,125 - Revolving credit facility due February 2026 - 61,517 Term loan due February 2024 - 15,000 Term loan due January 2026 - 40,238 $ 156,125 $ 116,755 Less: Payments due within one year included in current liabilities 3,750 15,286 Debt issuance costs 808 624 Long-term debt less current maturities $ 151,567 $ 100,845 On August 23, 2022, August 2027 On August 23, 2022, February 8, 2021 not third 2022, Obligations outstanding under the Credit Facilities accrue interest at a variable rate equal to the secured overnight financing rate (“SOFR”) plus an adjustment of between 0.10% and 0.25% (depending on the applicable interest period) plus a margin of between 1.0% and 2.0% (depending on the Company’s net leverage ratio). The interest rate on outstanding borrowings under the Credit Facilities was 6.2% at December 31, 2022 December 31, 2022 no Contractual principal payments for the term loan are as follows: 2023 2024 2025 2026 2027 not The Credit Facilities are secured by substantially all of the operating assets of the Company, and the Company’s obligations under the Credit Facilities are guaranteed by all of its domestic subsidiaries. The Company’s obligations under the Credit Facilities are subject to acceleration upon the occurrence of an event of default as defined in the Credit Agreement. The Credit Agreement contains customary events of default and negative covenants, including but not 1.0 not 1.0. four December 31, 2022 1.0 3.85 1.0, not 2023. The Company was previously a party to an interest rate swap pursuant to which it made fixed payments and received floating payments. In connection with entering into the Credit Agreement, the Company terminated the interest rate swap. During the years ended December 31, 2022 2021, Debt Maturity Schedule Contractual maturities of debt (excluding interest to be accrued thereon) at December 31, 2022 2023 $ 3,750 2024 4,688 2025 5,625 2026 6,562 2027 135,500 Thereafter - Total debt $ 156,125 |
Note 9 - Income Tax Expense (Be
Note 9 - Income Tax Expense (Benefit) | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9 The components of income (loss) before taxes on income were as follows (in thousands): Years Ended December 31, 2022 2021 Domestic $ (59,407 ) $ 16,639 Foreign 21,372 16,488 Income (loss) before taxes on income $ (38,035 ) $ 33,127 Aggregate income tax provisions consist of the following (in thousands): Years Ended December 31, 2022 2021 Current: Federal $ 3,580 $ 4,035 State and local 1,314 777 Foreign 1,399 2,033 6,293 6,845 Deferred Taxes: Deferred tax benefit (12,358 ) (3,158 ) Income tax expense (benefit) $ (6,065 ) $ 3,687 The significant components of the deferred income tax asset (liability) are as follows (in thousands): December 31, 2022 2021 Deferred income tax assets: Pension accruals $ 3,513 $ 4,023 Operating reserves and other accruals 7,962 5,520 Book carrying value in excess of tax basis of intangibles 2,321 - Capitalized research expenses 1,704 - Tax credits - 527 Deferred income tax liabilities: Book carrying value in excess of tax basis of property (4,183 ) (4,814 ) Book carrying value in excess of tax basis of intangibles - (5,076 ) Deferred expenses (599 ) (539 ) Net deferred income tax asset (liability) $ 10,718 $ (359 ) The difference between the total statutory Federal income tax rate and the actual effective income tax rate is accounted for as follows: Years Ended December 31, 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % State and local income taxes, net of federal income tax benefit 3.4 % 1.4 % Rate impacts due to foreign operations 4.3 % (6.7 %) Changes in uncertain tax positions - (0.5 %) Compensation related (0.8 %) (1.6 %) Pension termination (0.3 %) (1.8 %) R&D tax credits 0.7 % (0.4 %) Impairment charge (11.7 %) - Other (0.7 %) (0.3 %) Effective income tax rate 15.9 % 11.1 % The Tax Cuts and Jobs Act enacted on December 22, 2017 no not December 31, 2022 Only tax positions that meet the more-likely-than- not December 31, 2022 2021 not twelve December 31, 2022 Changes in the Company’s gross liability for unrecognized tax benefits, excluding interest and penalties, were as follows (in thousands): December 31, 2022 2021 Balance at the beginning of year $ 801 $ 993 Additions based on tax positions related to the current year - 94 Additions for tax positions of prior years 129 23 Reductions due to lapse of statute of limitations (123 ) (309 ) Balance at the end of year $ 807 $ 801 We accrue interest and penalties related to unrecognized tax benefits in income tax expense, and the related liability is included in other long-term liabilities in our balance sheet. During the years ended December 31, 2022 2021 2022 no 2021 December 31, 2022 2021 We anticipate that it is reasonably possible that the total amount of unrecognized tax benefits could decrease by approximately $0.2 twelve 2019 2016. |
Note 10 - Benefit Plans
Note 10 - Benefit Plans | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 10 Defined Benefit Plans The Company had previously sponsored two noncontributory qualified defined benefit pension plans, providing for normal retirement at age 65, June 30, 2013, no December 31, 2014, no December 31, 2021, two December 31, 2021, not The Company is also the sponsor of an unfunded supplemental executive retirement plan (“SERP”) in which several employees participate. The Company’s projected benefit obligation under the unfunded SERP was $13.0 million. Contributions to the plan are made in accordance with statutory funding requirements and any additional funding that may The following tables present the changes in the benefit obligations and the various plan assets, the funded status of the plans, and the amounts recognized in the Company’s balance sheets December 31, 2022 2021 December 31, 2022 2021 SERP Pension Plans SERP Total Changes in benefit obligation: Benefit obligation at beginning of year $ 15,523 $ 18,778 $ 14,337 $ 33,115 Service cost 203 - 185 185 Interest cost 401 171 337 508 Actuarial (gain) loss (3,031 ) 11 767 778 Benefits paid (103 ) (127 ) (103 ) (230 ) Lump sum benefits paid - (17,430 ) - (17,430 ) Amendments - 711 - 711 Effect of settlement/curtailment - (1,983 ) - (1,983 ) Benefit obligation at end of year 12,993 131 15,523 15,654 Changes in plan assets: Fair value of plan assets at beginning of year - 18,754 - 18,754 Actual return on assets - (637 ) - (637 ) Employer contributions 103 (14 ) 103 89 Benefits paid (103 ) (127 ) (103 ) (230 ) Lump sum benefits paid - (17,430 ) - (17,430 ) Fair value of plan assets at end of year - 546 - 546 Funded status at end of year $ (12,993 ) $ 415 $ (15,523 ) $ (15,108 ) Amounts recognized in balance sheets: Other assets $ - $ 415 $ - $ 415 Other current liabilities (129 ) - (103 ) (103 ) Long-term pension liability (12,864 ) - (15,420 ) (15,420 ) Net amount recognized $ (12,993 ) $ 415 $ (15,523 ) $ (15,108 ) Amounts recognized in accumulated other comprehensive loss consist of: Net actuarial loss $ 1,953 $ - $ 6,698 $ 6,698 Information for benefit plans with projected benefit obligation in excess of plan assets depicted as follows (in thousands): December 31, 2022 2021 SERP Pension Plans SERP Total Projected benefit obligation $ 12,993 $ 131 $ 15,523 $ 15,654 Fair value of plan assets - (546 ) - (546 ) Underfunded (Overfunded) $ 12,993 $ (415 ) $ 15,523 $ 15,108 Components of net periodic benefit cost related to pension plans were as follows (in thousands): Years Ended December 31, 2022 2021 Interest cost on projected benefit obligation $ - $ 171 Expected return on plan assets - (597 ) Recognized actuarial loss - 376 Settlement loss - - Pension plan termination charge - 7,821 Net periodic pension cost after settlements $ - $ 7,771 The termination of the Company’s two 2021 December 31, 2021. not Components of net periodic benefit cost related to the SERP were as follows (in thousands): Years Ended December 31, 2022 2021 Service cost on benefits earned during the period $ 203 $ 185 Interest cost on projected benefit obligation 401 337 Recognized actuarial loss 1,715 1,499 Net periodic pension cost after settlements $ 2,319 $ 2,021 The service cost component is included in selling and administrative expenses in our statements of comprehensive income (loss) and the other components of net periodic pension cost are included in other periodic pension costs in our statements of comprehensive income (loss). The estimated net actuarial loss for the SERP that will be amortized from accumulated other comprehensive income (loss) into net periodic benefit cost over the next fiscal year is $0.2 million. The following table presents the weighted-average assumptions used to determine benefit obligations as of December 31, 2022 2021 Discount Rate Long Term Rate of Return Salary Scale SERP SERP SERP 2021 2.59 % N/A 3.00 % 2022 4.93 % N/A 3.00 % The following table presents the weighted-average assumptions used to determine net periodic benefit cost for years ended December 31, 2021 and 2022: Discount Rate Long Term Rate of Return Salary Scale Pension Plans Pension Plans Pension Plans Corporate Plants SERP Corporate Plants SERP Corporate Plants SERP 2021 2.36 % 2.21 % 2.36 % 8.00 % 8.00 % N/A N/A N/A 3.00 % 2022 N/A N/A 2.59 % N/A N/A N/A N/A N/A 3.00 % The following table includes projected benefit payments for the years indicated (in thousands): Projected Benefit Payments Year SERP 2023 $ 132 2024 1,280 2025 673 2026 695 2027 706 2028-2032 4,916 Rabbi Trust December 31, 2022 2021 December 31, 2022 2021 In 2013, December 31, 2022 2021 December 31, 2022 2021 Defined Contribution Plan The Company provides a defined contribution plan covering qualified employees. The plan includes a provision that allows employees to make pre-tax contributions under Section 401 December 31, 2022 2021, |
Note 11 - Leases
Note 11 - Leases | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 11 The Company primarily leases factories, warehouses, call centers, office space and equipment for various terms under long-term, non-cancelable operating lease agreements. A right-of-use asset represents the Company’s right to use an underlying asset for the lease term and a lease liability represents the Company’s obligation to make lease payments arising from the lease. The Company’s leases generally have expected lease terms of one eight not December 31, 2022 December 31, 2021 not The components of lease cost were as follows (in thousands): Years Ended December 31, 2022 2021 Operating lease costs $ 4,027 $ 2,074 Short-term lease costs 889 602 Total lease costs $ 4,916 $ 2,676 Cash flow and noncash information related to our operating leases were as follows (in thousands): Years Ended December 31, 2022 2021 Operating cash flows – cash paid for operating lease liabilities $ 2,996 $ 1,732 Non-cash – Operating lease right-of-use assets obtained in exchange for new lease liabilities $ 4,089 $ 4,945 Other supplemental information related to our operating leases was as follows: Years Ended December 31, 2022 2021 Weighted-average remaining lease term (in years) 2.5 3.1 Weighted average discount rate 5.66 % 4.74 % Maturities of operating lease liabilities as of December 31, 2022 Operating Leases 2023 $ 3,207 2024 2,105 2025 1,464 2026 830 2027 250 Thereafter - Total lease payments 7,856 Less imputed interest 785 Present value of lease liabilities $ 7,071 |
Note 12 - Contingencies
Note 12 - Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 12 The purchase price to acquire substantially all of the assets of Sutter’s Mill Specialties, Inc. (“Sutter’s Mill”) in December 2021 2022 2024. December 31, 2022 none twelve May 2022 April 2025. December 31, 2022 third 2023. may may The Company is involved in various legal actions and claims arising from the normal course of business. In the opinion of management, the ultimate outcome of these matters is not |
Note 13 - Share-based Compensat
Note 13 - Share-based Compensation | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 13 In May 2013, 2013 “2013 May 2022, 2022 “2022 2022 December 31, 2022 2022 2022 2013 No 2013 2013 Share-based compensation is recorded in selling and administrative expense in the statements of comprehensive income (loss). The following table details the share-based compensation expense by type of award and the total related tax benefit for the periods presented (in thousands): Years Ended December 31, 2022 2021 Stock options and SARs $ 1,472 $ 1,420 Restricted stock 2,598 2,241 Performance shares 219 349 Total share-based compensation expense $ 4,289 $ 4,010 Related income tax benefit $ 804 $ 760 Stock Options and Stock Appreciation Rights (“SARs”) The Company grants stock options and stock-settled SARs to employees that allow them to purchase shares of the Company’s common stock. Stock options are also granted to outside members of the Board of Directors of the Company. The Company determines the fair value of stock options and SARs at the date of grant using the Black-Scholes valuation model. Assumptions regarding volatility, risk-free interest rate, expected term and dividend yield are required for the Black-Scholes model. The risk-free interest rate is based on the yield of a U.S. treasury bond with a similar maturity to the award’s expected life. The expected life for awards granted is based on the historical exercise patterns experienced by the Company when the award is made. The determination of expected stock price volatility for awards is based on historical Superior common stock prices over a period commensurate with the expected life. The dividend yield assumption is based on the history and expectation of the Company’s dividend payouts. The following table summarizes significant assumptions utilized to determine the fair value of stock options and SARs: Years Ended December 31, 2022 2021 Stock Options: Risk free interest rate 1.6% -3.8 % 0.2% -1.6 % Expected award life (years) 3-10 3-10 Expected volatility 46.8% -65.0 % 46.9% -65.0 % Expected dividend yield 2.4% -5.6 % 1.6% -2.2 % Weighted average fair value per share at grant date $ 5.39 $ 9.91 SARs: Risk free interest rate 1.6% -3.8 % 0.2 % Expected award life (years) 3-4 3 Expected volatility 61.6% -64.8 % 64.3 % Expected dividend yield 2.4% -5.6 % 1.6 % Weighted average fair value per share at grant date $ 6.34 $ 10.09 August 3, 2018 one three five ten 2013 2022 A summary of stock option transactions during the year ended December 31, 2022 Weighted Average Aggregate No. of Weighted Average Remaining Life Intrinsic Value Shares Exercise Price (in years) (in thousands) Outstanding, January 1, 2022 779,938 $ 16.12 3.27 $ 5,097 Granted 324,091 14.41 Exercised (85,840 ) 10.17 Lapsed or cancelled (55,414) 19.34 Outstanding, December 31, 2022 962,775 15.89 3.26 301 Exercisable, December 31, 2022 512,161 14.48 2.19 282 Intrinsic value is the difference between the market value of our common stock and the exercise price of each stock option multiplied by the number of stock options outstanding for those stock options where the market value exceeds their exercise price. Options exercised during the years ended December 31, 2022 2021 December 31, 2022 2021 December 31, 2021 No December 31, 2022. December 31, 2022 2021 December 31, 2022 A summary of stock-settled SARs transactions during the year ended December 31, 2022 Weighted Average Aggregate No. of Weighted Average Remaining Life Intrinsic Value Shares Exercise Price (in years) (in thousands) Outstanding, January 1, 2022 291,059 $ 14.99 2.65 $ 2,205 Granted 57,120 16.60 Exercised (24,836 ) 15.16 Lapsed or cancelled (2,958 ) 18.84 Outstanding, December 31, 2022 320,385 15.23 2.23 69 Exercisable, December 31, 2022 232,228 13.48 1.60 67 SARs exercised during the years ended December 31, 2022 2021 December 31, 2021. No December 31, 2022. December 31, 2022 Restricted Stock three five 2013 2022 A summary of restricted stock transactions during the year ended December 31, 2022 Weighted Average No. of Grant Date Shares Fair Value Outstanding, January 1, 2022 458,166 $ 19.51 Granted 66,544 14.82 Vested (133,740 ) 15.24 Forfeited (18,500 ) 14.68 Outstanding, December 31, 2022 372,470 20.45 As of December 31, 2022 Performance Shares The Company has granted performance shares, which either contain only service-based vesting conditions or service-based and performance-based vesting conditions. The service-based awards vest after the service period is met, which is generally three five five 2013 2022 A summary of performance share transactions during the year ended December 31, 2022 Weighted Average No. of Grant Date Shares Fair Value Outstanding, January 1, 2022 193,523 $ 21.50 Granted 68,978 18.15 Vested (15,750 ) 16.97 Forfeited (47,300 ) 22.04 Outstanding, December 31, 2022 199,451 20.57 As of December 31, 2022 |
Note 14 - Net Income (Loss) Per
Note 14 - Net Income (Loss) Per Share | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 14 The Company’s basic net income per share is computed based on the weighted average number of shares of common stock outstanding for the period. Diluted net income per share includes the effect of the Company’s outstanding stock options, stock appreciation rights, unvested shares of restricted stock and unvested performance shares, if the inclusion of these items is dilutive. The following table presents a reconciliation of basic and diluted net income per share for the years ended December 31, 2022 2021 Years Ended December 31, 2022 2021 Net income used in the computation of basic and diluted net income per share (in thousands) $ (31,970 ) $ 29,440 Weighted average shares outstanding - basic 15,764,859 15,438,849 Dilutive common stock equivalents - 652,221 Weighted average shares outstanding - diluted 15,764,859 16,091,070 Net income per share: Basic $ (2.03 ) $ 1.91 Diluted $ (2.03 ) $ 1.83 Diluted weighted average shares outstanding excludes shares of common stock of 400,381 for the year ended December 31, 2022 Awards to purchase 687,117 and 171,522 shares of common stock with weighted average exercise prices of $21.06 and $25.42, were outstanding during the years ended December 31, 2022 2021 not |
Note 15 - Net Sales
Note 15 - Net Sales | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 15 For our Branded Products and Healthcare Apparel segments, revenue is primarily generated from the sale of finished products to customers. Revenues for our Branded Products and Healthcare Apparel segments are recognized when the performance obligations under the contract terms are satisfied. For certain contracts with customers in which the Company has an enforceable right to payment for goods with no not 19 For our Contact Centers segment, revenue is generated from providing our customers with contact center services. Revenue for our Contact Centers segment is recognized as services are delivered. Revenue is measured at the amount of consideration we expect to receive in exchange for the goods or services. Variable consideration for estimated returns, allowances and other price variances is recorded based upon historical experience and current allowance programs. Contract terms may not not one one Consistent with the Company’s change in reportable segments described in Note 17 Years Ended December 31, 2022 2021 Branded Products Segment: Branded products $ 381,363 $ 309,906 Personal protective equipment 6,568 30,581 Total Branded Products Segment $ 387,931 $ 340,487 Healthcare Apparel Segment: Healthcare apparel $ 110,505 $ 131,267 Personal protective equipment 2,816 8,021 Total Healthcare Apparel Segment $ 113,321 $ 139,288 Contact Centers Segment: Contact centers services $ 84,218 $ 64,312 Net intersegment eliminations (6,639 ) (7,101 ) Total Contact Centers Segment $ 77,579 $ 57,211 Consolidated Net Sales $ 578,831 $ 536,986 Contract Assets and Contract Liabilities The following table provides information about accounts receivable, contract assets and contract liabilities from contracts with customers (in thousands): December 31, 2022 2021 Accounts receivable $ 104,813 $ 107,053 Current contract assets 52,980 38,018 Current contract liabilities 2,213 8,804 Contract assets relate to goods produced without an alternative use for which the Company has an enforceable right to payment but which has not December 31, 2021 December 31, 2022 December 31, 2022 December 31, 2021 |
Note 16 - Stock Repurchase Plan
Note 16 - Stock Repurchase Plan | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 16 – Stock Repurchase Plan: On May 2, 2019, no not December 31, 2022 2021 December 31, 2022 |
Note 17 - Operating Segment Inf
Note 17 - Operating Segment Information | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 17 As described in Note 1 second 2022, Branded Products segment: Healthcare Apparel segment: third Contact Centers: Intersegment eliminations include the elimination of revenues and costs from services provided by the Contact Centers segment to the Company’s two not The Company evaluates the performance of each operating segment based on several factors of which the primary financial measures are net sales and income before taxes on income. No 10% 2022 2021 The following tables set forth financial information related to the Company’s operating segments (in thousands): Branded Products Healthcare Apparel Contact Centers Intersegment Eliminations Other Total As of and For the Year Ended December 31, 2022: Net sales $ 387,931 $ 113,321 $ 84,218 $ (6,639 ) $ - $ 578,831 Cost of goods sold 273,134 80,719 34,439 (2,820 ) - 385,472 Gross margin 114,797 32,602 49,779 (3,819 ) - 193,359 Selling and administrative expenses 90,118 39,295 33,631 (3,819 ) 17,095 176,320 Goodwill impairment charge 25,595 20,323 - - - 45,918 Intangible assets impairment charge 5,581 - - - - 5,581 Other periodic pension cost - - - - 2,116 2,116 Gain on sale of property, plant and equipment - - - - 3,435 3,435 Interest expense 288 118 - - 4,488 4,894 Income (loss) before taxes on income $ (6,785 ) $ (27,134 ) $ 16,148 $ - $ (20,264 ) $ (38,035 ) Depreciation and amortization $ 6,465 $ 3,946 $ 2,373 $ - $ 220 $ 13,004 Capital expenditures $ 4,643 $ 1,169 $ 4,876 $ - $ 330 $ 11,018 Total assets $ 224,116 $ 150,335 $ 43,368 $ - $ 39,122 $ 456,941 Branded Products Healthcare Apparel Contact Centers Intersegment Eliminations Other Total As of and For the Year Ended December 31, 2021: Net sales $ 340,487 $ 139,288 $ 64,312 $ (7,101 ) $ - $ 536,986 Cost of goods sold 240,331 87,142 26,671 (3,172 ) - 350,972 Gross margin 100,156 52,146 37,641 (3,929 ) - 186,014 Selling and administrative expenses 70,035 35,733 23,756 (3,929 ) 16,465 142,060 Other periodic pension cost - - - - 1,786 1,786 Pension plan termination charge - - - - 7,821 7,821 Interest expense 73 154 - - 993 1,220 Income before taxes on income $ 30,048 $ 16,259 $ 13,885 $ - $ (27,065 ) $ 33,127 Depreciation and amortization $ 4,327 $ 3,372 $ 1,483 $ - $ 109 $ 9,291 Capital expenditures $ 9,415 $ 4,860 $ 3,421 $ - $ - $ 17,696 Total assets $ 244,410 $ 170,582 $ 29,315 $ - $ 25,938 $ 470,245 |
Note 18 - Acquisition of Busine
Note 18 - Acquisition of Businesses | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 18 : Gifts By Design, Inc. January 29, 2021, Assets Acquired and Liabilities Assumed Accounts receivable $ 251 Prepaid expenses and other current assets 196 Property, plant and equipment 60 Intangible assets 3,673 Goodwill 2,417 Total assets $ 6,597 Accounts payable 199 Other current liabilities 372 Total liabilities $ 571 The Company recorded $3.7 million in identifiable intangibles at fair value, consisting of $2.5 million in acquired customer relationships and $1.2 million for the brand name. The intangible assets associated with the customer relationships are being amortized for seven December 31, 2022 2021, December 31, 2022 second 2022. Note 6 December 31, 2022 third 2022, Note 6 Sutter s Mill Specialties, Inc. On December 2, 2021, The purchase price of the acquisition consisted of the following: (a) $10.5 million in cash, (b) the issuance of 45,620 restricted shares of Superior’s common stock that vest ratably over a three 2022 2024 Fair Value of Consideration Transferred A summary of the purchase price is as follows (in thousands): Cash consideration $ 10,533 Restricted shares of Superior common stock issued 869 Contingent consideration 2,520 Total Consideration $ 13,922 Assets Acquired and Liabilities Assumed The following table presents the allocation of the total fair value of consideration transferred, as shown above, to the acquired tangible and intangible assets and liabilities of Sutter’s Mill based on their estimated fair values as of the effective date of the transaction (in thousands): Accounts receivable $ 4,701 Inventories 9,149 Prepaid expenses and other current assets 135 Property, plant and equipment 1,043 Operating lease right-of-use assets 648 Intangible assets 2,031 Goodwill 1,019 Other assets 41 Total assets $ 18,767 Accounts payable 3,209 Other current liabilities 389 Long-term debt 758 Long-term operating lease liabilities 489 Total liabilities $ 4,845 In the first 2022, The Company recorded $2.0 million in identifiable intangibles at fair value, consisting of $1.2 million in acquired customer relationships, $0.1 million for a non-compete agreement and $0.7 million for the Sutter’s Mill Specialties trade name. The intangible assets associated with the customer relationships are being amortized for seven five December 31, 2022 December 31, 2022 second 2022. Note 6 December 31, 2022 third 2022, Note 6 Guardian Products, Inc. On May 1, 2022, one three April 2025. three Fair Value of Consideration Transferred A summary of the purchase price is as follows (in thousands): Cash consideration $ 11,077 Restricted shares of Superior common stock issued 2,000 Contingent consideration 1,119 Total Consideration $ 14,196 Assets Acquired and Liabilities Assumed The following table presents the allocation of the total fair value of consideration transferred, as shown above, to the acquired tangible and intangible assets and liabilities of Guardian based on their estimated fair values as of the effective date of the transaction (in thousands): Accounts receivable $ 1,656 Inventories 621 Prepaid expenses and other current assets 272 Property, plant and equipment 15 Intangible assets 5,886 Goodwill 6,463 Total assets $ 14,913 Accounts payable 533 Other current liabilities 184 Total liabilities $ 717 The Company recorded $5.9 million in identifiable intangibles at fair value, consisting of $5.0 million in acquired customer relationships, $0.2 million for a non-compete agreement and $0.7 million for the Guardian Products trade name. The intangible assets associated with the customer relationships are being amortized for seven five two December 31, 2022 December 31, 2022 third 2022, Note 6 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation The accompanying consolidated financial statements of Superior included herein have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) (“U.S.” or “United States”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The Company refers to the consolidated financial statements collectively as “financial statements,” and individually as “statements of comprehensive income (loss),” “balance sheets,” “statements of shareholders’ equity,” and “statements of cash flows” herein. |
Segment Reporting, Policy [Policy Text Block] | Change in Reportable Segments Beginning in the second 2022, not no Note 17 Note 6 |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications The accompanying financial statements for the previous year contain certain reclassifications to conform to the presentation used in the current period. Reclassifications only impact items within net cash provided by operating activities and Note 6 no |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenue and expenses, as well as the disclosures of contingent assets and liabilities. Because of the inherent uncertainties in this process, actual future results could differ from those expected at the reporting date. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three |
Revenue [Policy Text Block] | Revenue recognition Revenue is recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. See Note 15 |
Accounts Receivable [Policy Text Block] | Accounts receivable and allowance for doubtful accounts Judgments and estimates are used in determining the collectability of accounts receivable and in establishing allowances for doubtful accounts. The Company analyzes specific accounts receivable and historical bad debt experience, customer credit worthiness, current economic trends and the age of outstanding balances when evaluating the adequacy of the allowance for doubtful accounts. Changes in estimates are reflected in the period they become known. Charge-offs of accounts receivable are made once all collection efforts have been exhausted. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may |
Cost Of Goods Sold And Shipping And Handling Fees And Costs, Policy [Policy Text Block] | Cost of goods sold and shipping and handling fees and costs Cost of goods sold for our Branded Products segment and our Healthcare Apparel segment consist primarily of direct costs of acquiring inventory, including cost of merchandise, inbound freight charges, purchasing, receiving and inspection costs. Cost of goods sold for our Contact Centers segment includes salaries and payroll related benefits for agents. The Company includes shipping and handling fees billed to customers in net sales. Shipping and handling costs associated with out-bound freight are recorded in cost of goods sold. The cost of occupancy and operating the Company’s distribution centers are included in selling and administrative expenses. |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost ( first first may |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, plant and equipment Property, plant and equipment are stated at cost, less accumulated depreciation. Major renewals and improvements are capitalized, while replacements, maintenance and repairs which do not 31, 2022, Property, plant and equipment is recorded at cost and depreciated using the straight-line method over its estimated useful life as follows: Buildings (in years) 20 to 40 Improvements (in years) 5 to 40 Machinery, equipment and fixtures (in years) 3 to 10 Leasehold improvements are depreciated over the terms of the leases to the extent that such improvements have useful lives of at least the terms of the respective leases. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of long-lived assets Long-lived assets, such as property and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not no December 31, 2022 2021 |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and indefinite-lived intangible assets The Company has made acquisitions in the past that included goodwill and indefinite-lived intangible assets. Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Goodwill and indefinite-lived intangible assets such as trade names are not fourth may not • macroeconomic conditions such as deterioration in general economic conditions, limitations on accessing capital, or other developments in equity and credit markets; • industry and market considerations such as a deterioration in the environment in which the Company operates, an increased competitive environment, a decline in market-dependent multiples or metrics (considered in both absolute terms and relative to peers), a change in the market for the Company’s products or services, or a regulatory or political development; • cost factors such as increases in raw materials, labor, or other costs that have a negative effect on earnings and cash flows; • overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods; and • other relevant entity-specific events such as changes in management, key personnel, strategy, or customers. An entity has the option to first not 50% not not three For the year ended December 31, 2021, In conjunction with the re-segmentation during the second 2022, third 2022, December 31, 2022. December 31, 2022, no In conjunction with the Company’s realignment of its reportable segments during the second 2022, no December 31, 2022. December 31, 2022, |
Business Combinations Policy [Policy Text Block] | Contingent Consideration Contingent consideration relating to consideration transferred in exchange for an acquired business is recognized at its estimated fair value at the acquisition date. The contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved. Any changes in fair value are recognized each reporting period in non-cash changes in fair value of estimated contingent consideration in the accompanying statements of comprehensive income (loss). |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | SERP The Company is the sponsor of an unfunded supplemental executive retirement plan (“SERP”) in which several of its current and former employees are participants. In calculating our obligations and related expense, we make various assumptions and estimates, after consulting with outside actuaries and advisors. The annual determination of expense involves calculating the estimated total benefits ultimately payable to plan participants. Significant assumptions related to the calculation of our obligations include the discount rates used to calculate the present value of benefit obligations to be paid in the future. We review these assumptions annually based upon currently available information, including information provided by our actuaries. |
Insurance [Policy Text Block] | Insurance The Company self-insures for certain obligations related to employee health programs. The Company also purchases stop-loss insurance policies to protect it from catastrophic losses. Judgments and estimates are used in determining the potential value associated with reported claims and for losses that have occurred, but have not may |
Income Tax, Policy [Policy Text Block] | Taxes on income Income taxes are provided for under the liability method, whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not Note 9 |
Share-Based Payment Arrangement [Policy Text Block] | Share-based compensation The Company awards share-based compensation as an incentive for employees to contribute to the Company’s long-term success. The Company grants options, stock-settled stock appreciation rights, restricted stock and performance shares. The Company recognizes share-based compensation expense for all awards granted to employees, which is based on the fair value of the award on the date of grant. Determining the appropriate fair value model and calculating the fair value of stock compensation awards requires the input of certain highly complex and subjective assumptions, including the expected life of the stock compensation awards and the Company’s common stock price volatility, risk free interest rate and dividend rate. The assumptions used in calculating the fair value of stock compensation awards represent management’s best estimates, but these estimates involve inherent uncertainties and the application of judgment. As a result, if factors change and the Company deems it necessary to use different assumptions, stock compensation expense could be materially different from what has been recorded in the current period. |
Comprehensive Income, Policy [Policy Text Block] | Other comprehensive income (loss) Comprehensive income (loss) includes net income (loss) and all other changes in equity during a period except those resulting from investments by or distributions to shareholders. Other comprehensive income (loss) consists of defined benefit pension plans activities, cash flow hedging activities and foreign currency translation adjustment. The related tax effects of these items are recorded in income tax expense (benefit) within the statements of operations, upon reclassification from accumulated other comprehensive income (loss), net of tax. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translations and Transactions Assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the current rate of exchange on the last day of the reporting period. Changes in the carrying values of these assets and liabilities attributable to fluctuations in spot rates are recognized in net foreign currency translation adjustment, a component of accumulated other comprehensive income (loss), net of tax. Monetary assets and liabilities denominated in a currency that is different from a reporting entity’s functional currency are remeasured from the applicable currency to the reporting entity’s functional currency. Gains or losses resulting from transactions denominated in other currencies are recognized in net income (loss) each period. The majority of the Company’s transactions are settled in U.S. dollars. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Risks and concentrations Financial instruments that potentially subject the Company to concentrations of credit risk include cash in banks in excess of federally insured amounts. The Company manages this risk by maintaining all deposits in high quality financial institutions and periodically performing evaluations of the relative credit standing of the financial institutions. When assessing credit risk the Company considers whether the credit risk exists at both the individual and group level. Consideration is given to the activity, region and economic characteristics when assessing if there exists a group concentration risk. At December 31, 2022 2021 no 10 December 31, 2022 2021 five none 10% 2022 No 10% 2022 12% 2022 Principal raw materials used in the manufacture of the Company’s finished goods include cotton, polyester, cotton-synthetic, poly-synthetic blends, textiles, plastic, glass, fabric and metal. The majority of such fabrics are sourced in China, either directly by us or our suppliers. If we are unable to continue to obtain our raw materials and finished products from China or if our suppliers are unable to source raw materials from China, it could significantly disrupt our business. Further, the Company and the Company’s suppliers generally source or manufacture finished goods in parts of the world that may |
Derivatives, Reporting of Derivative Activity [Policy Text Block] | Written Put Options During the second 2022, twenty-four 480, December 31, 2022 December 31, 2022 December 31, 2022 |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value of financial instruments The carrying amounts of cash and cash equivalents, receivables and accounts payable approximated fair value as of December 31, 2022 2021 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements We consider the applicability and impact of all Accounting Standard Updates (“ASUs”). ASUs not not Recently Adopted Accounting Pronouncements In June 2016, 2016 13, Financial Instruments—Credit Losses (Topic 326 January 1, 2022 not In March 2020, 2020 04, Reference Rate Reform (Topic 848 may not no August 23, 2022 Note 8 not Recently Issued Accounting Pronouncements Not The Company has considered all recent accounting pronouncements issued, but not not |
Note 1 - Description of Busin_2
Note 1 - Description of Business, Basis of Presentation and Summary of Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Property, Plant and Equipment, Useful Life [Table Text Block] | Buildings (in years) 20 to 40 Improvements (in years) 5 to 40 Machinery, equipment and fixtures (in years) 3 to 10 |
Note 2 - Allowance for Doubtf_2
Note 2 - Allowance for Doubtful Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Years Ended December 31, 2022 2021 Balance at the beginning of year $ 6,393 $ 7,667 Provision for bad debts 2,891 2,260 Charge-offs (1,686 ) (3,653 ) Recoveries 24 119 Balance at the end of year $ 7,622 $ 6,393 |
Note 3 - Reserve for Sales Re_2
Note 3 - Reserve for Sales Returns and Allowances (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Reserve for Sales Returns and Allowances [Table Text Block] | Years Ended December 31, 2022 2021 Balance at the beginning of year $ 2,636 $ 3,365 Provision for returns and allowances 4,512 4,911 Actual returns and allowances paid to customers (5,058 ) (5,640 ) Balance at the end of year $ 2,090 $ 2,636 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2022 2021 Finished goods $ 94,228 $ 90,395 Work in process 401 1,351 Raw materials 30,347 28,809 Inventories $ 124,976 $ 120,555 |
Note 5 - Property, Plant and _2
Note 5 - Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2022 2021 Land $ 2,494 $ 3,085 Buildings, improvements and leaseholds 18,652 19,558 Machinery, equipment and fixtures 101,419 91,351 122,565 113,994 Accumulated depreciation (71,173 ) (64,304 ) Property, plant and equipment, net $ 51,392 $ 49,690 |
Note 6 - Goodwill and Intangi_2
Note 6 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Branded Products Healthcare Apparel Total As of January 1, 2021: Gross goodwill $ 15,793 $ 20,323 $ 36,116 Accumulated impairment losses - - - Net goodwill $ 15,793 $ 20,323 $ 36,116 Additions $ 3,363 $ - $ 3,363 Foreign currency translation (45 ) - (45 ) Net goodwill, December 31, 2021 $ 19,111 $ 20,323 $ 39,434 As of December 31, 2021: Gross goodwill $ 19,111 $ 20,323 $ 39,434 Accumulated impairment losses - - - Net goodwill $ 19,111 $ 20,323 $ 39,434 Additions $ 6,463 $ - $ 6,463 Impairment charge (25,595 ) (20,323 ) (45,918 ) Foreign currency translation 21 - 21 Net goodwill, December 31, 2022 $ - $ - $ - As of December 31, 2022: Gross goodwill $ 25,595 $ 20,323 $ 45,918 Accumulated impairment losses (25,595 ) (20,323 ) (45,918 ) Net goodwill $ - $ - $ - |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | Indefinite-lived Intangible Assets Segment Carrying Amount, December 31, 2021 Impairment Charges Carrying Amount, December 31, 2022 Trade names: HPI Branded Products $ 4,700 $ - $ 4,700 BAMKO Branded Products 8,900 - 8,900 Public Identity Branded Products 470 (470 ) - Tangerine Branded Products 3,200 (3,200 ) - Gifts By Design Branded Products 1,170 (1,170 ) - Sutter’s Mill Branded Products 741 (741 ) - CID Resources Healthcare Apparel 14,160 - 14,160 Total $ 33,341 $ (5,581 ) $ 27,760 |
Schedule of Finite-lived and Indefinite-Lived Intangible Assets [Table Text Block] | December 31, 2022 December 31, 2021 Item Weighted Average Life (In years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Definite-lived intangible assets: Customer relationships (7-15 year life) 11.7 $ 50,198 $ (23,330 ) $ 45,198 $ (18,772 ) Non-compete agreements (3-7 year life) 5.4 1,712 (1,367 ) 1,536 (1,121 ) Trademarks 10.0 379 (72 ) 275 (37 ) Trade names 2.0 710 (237 ) - - Total $ 52,999 $ (25,006 ) $ 47,009 $ (19,930 ) Indefinite-lived intangible assets: Trade names $ 27,760 $ 33,341 Total intangible assets $ 80,759 $ (25,006 ) $ 80,350 $ (19,930 ) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2023 $ 4,616 2024 3,716 2025 3,066 2026 3,058 2027 3,017 Thereafter 10,520 Total $ 27,993 |
Note 7 - Other Current Liabil_2
Note 7 - Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | December 31, 2022 2021 Salaries, wages, commissions and compensated absences $ 14,316 $ 17,374 Contract liabilities 2,213 8,804 Accrued rebates 2,090 2,526 Current operating lease liabilities 3,135 2,088 Written put options 2,032 - 401K profit sharing accrual - 880 Other accrued expenses 14,860 7,317 Other current liabilities $ 38,646 $ 38,989 |
Note 8 - Long-term Debt (Tables
Note 8 - Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | December 31, 2022 2021 Credit Facilities: Revolving credit facility due August 2027 $ 83,000 $ - Term loan due August 2027 73,125 - Revolving credit facility due February 2026 - 61,517 Term loan due February 2024 - 15,000 Term loan due January 2026 - 40,238 $ 156,125 $ 116,755 Less: Payments due within one year included in current liabilities 3,750 15,286 Debt issuance costs 808 624 Long-term debt less current maturities $ 151,567 $ 100,845 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | 2023 $ 3,750 2024 4,688 2025 5,625 2026 6,562 2027 135,500 Thereafter - Total debt $ 156,125 |
Note 9 - Income Tax Expense (_2
Note 9 - Income Tax Expense (Benefit) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Years Ended December 31, 2022 2021 Domestic $ (59,407 ) $ 16,639 Foreign 21,372 16,488 Income (loss) before taxes on income $ (38,035 ) $ 33,127 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended December 31, 2022 2021 Current: Federal $ 3,580 $ 4,035 State and local 1,314 777 Foreign 1,399 2,033 6,293 6,845 Deferred Taxes: Deferred tax benefit (12,358 ) (3,158 ) Income tax expense (benefit) $ (6,065 ) $ 3,687 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2022 2021 Deferred income tax assets: Pension accruals $ 3,513 $ 4,023 Operating reserves and other accruals 7,962 5,520 Book carrying value in excess of tax basis of intangibles 2,321 - Capitalized research expenses 1,704 - Tax credits - 527 Deferred income tax liabilities: Book carrying value in excess of tax basis of property (4,183 ) (4,814 ) Book carrying value in excess of tax basis of intangibles - (5,076 ) Deferred expenses (599 ) (539 ) Net deferred income tax asset (liability) $ 10,718 $ (359 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended December 31, 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % State and local income taxes, net of federal income tax benefit 3.4 % 1.4 % Rate impacts due to foreign operations 4.3 % (6.7 %) Changes in uncertain tax positions - (0.5 %) Compensation related (0.8 %) (1.6 %) Pension termination (0.3 %) (1.8 %) R&D tax credits 0.7 % (0.4 %) Impairment charge (11.7 %) - Other (0.7 %) (0.3 %) Effective income tax rate 15.9 % 11.1 % |
Summary of Income Tax Contingencies [Table Text Block] | December 31, 2022 2021 Balance at the beginning of year $ 801 $ 993 Additions based on tax positions related to the current year - 94 Additions for tax positions of prior years 129 23 Reductions due to lapse of statute of limitations (123 ) (309 ) Balance at the end of year $ 807 $ 801 |
Note 10 - Benefit Plans (Tables
Note 10 - Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | December 31, 2022 2021 SERP Pension Plans SERP Total Changes in benefit obligation: Benefit obligation at beginning of year $ 15,523 $ 18,778 $ 14,337 $ 33,115 Service cost 203 - 185 185 Interest cost 401 171 337 508 Actuarial (gain) loss (3,031 ) 11 767 778 Benefits paid (103 ) (127 ) (103 ) (230 ) Lump sum benefits paid - (17,430 ) - (17,430 ) Amendments - 711 - 711 Effect of settlement/curtailment - (1,983 ) - (1,983 ) Benefit obligation at end of year 12,993 131 15,523 15,654 Changes in plan assets: Fair value of plan assets at beginning of year - 18,754 - 18,754 Actual return on assets - (637 ) - (637 ) Employer contributions 103 (14 ) 103 89 Benefits paid (103 ) (127 ) (103 ) (230 ) Lump sum benefits paid - (17,430 ) - (17,430 ) Fair value of plan assets at end of year - 546 - 546 Funded status at end of year $ (12,993 ) $ 415 $ (15,523 ) $ (15,108 ) Amounts recognized in balance sheets: Other assets $ - $ 415 $ - $ 415 Other current liabilities (129 ) - (103 ) (103 ) Long-term pension liability (12,864 ) - (15,420 ) (15,420 ) Net amount recognized $ (12,993 ) $ 415 $ (15,523 ) $ (15,108 ) Amounts recognized in accumulated other comprehensive loss consist of: Net actuarial loss $ 1,953 $ - $ 6,698 $ 6,698 |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block] | December 31, 2022 2021 SERP Pension Plans SERP Total Projected benefit obligation $ 12,993 $ 131 $ 15,523 $ 15,654 Fair value of plan assets - (546 ) - (546 ) Underfunded (Overfunded) $ 12,993 $ (415 ) $ 15,523 $ 15,108 |
Schedule of Net Benefit Costs [Table Text Block] | Years Ended December 31, 2022 2021 Interest cost on projected benefit obligation $ - $ 171 Expected return on plan assets - (597 ) Recognized actuarial loss - 376 Settlement loss - - Pension plan termination charge - 7,821 Net periodic pension cost after settlements $ - $ 7,771 Years Ended December 31, 2022 2021 Service cost on benefits earned during the period $ 203 $ 185 Interest cost on projected benefit obligation 401 337 Recognized actuarial loss 1,715 1,499 Net periodic pension cost after settlements $ 2,319 $ 2,021 |
Defined Benefit Plan, Assumptions [Table Text Block] | Discount Rate Long Term Rate of Return Salary Scale SERP SERP SERP 2021 2.59 % N/A 3.00 % 2022 4.93 % N/A 3.00 % Discount Rate Long Term Rate of Return Salary Scale Pension Plans Pension Plans Pension Plans Corporate Plants SERP Corporate Plants SERP Corporate Plants SERP 2021 2.36 % 2.21 % 2.36 % 8.00 % 8.00 % N/A N/A N/A 3.00 % 2022 N/A N/A 2.59 % N/A N/A N/A N/A N/A 3.00 % |
Schedule of Expected Benefit Payments [Table Text Block] | Projected Benefit Payments Year SERP 2023 $ 132 2024 1,280 2025 673 2026 695 2027 706 2028-2032 4,916 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Years Ended December 31, 2022 2021 Operating lease costs $ 4,027 $ 2,074 Short-term lease costs 889 602 Total lease costs $ 4,916 $ 2,676 Years Ended December 31, 2022 2021 Operating cash flows – cash paid for operating lease liabilities $ 2,996 $ 1,732 Non-cash – Operating lease right-of-use assets obtained in exchange for new lease liabilities $ 4,089 $ 4,945 Years Ended December 31, 2022 2021 Weighted-average remaining lease term (in years) 2.5 3.1 Weighted average discount rate 5.66 % 4.74 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Operating Leases 2023 $ 3,207 2024 2,105 2025 1,464 2026 830 2027 250 Thereafter - Total lease payments 7,856 Less imputed interest 785 Present value of lease liabilities $ 7,071 |
Note 13 - Share-based Compens_2
Note 13 - Share-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Years Ended December 31, 2022 2021 Stock options and SARs $ 1,472 $ 1,420 Restricted stock 2,598 2,241 Performance shares 219 349 Total share-based compensation expense $ 4,289 $ 4,010 Related income tax benefit $ 804 $ 760 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Years Ended December 31, 2022 2021 Stock Options: Risk free interest rate 1.6% -3.8 % 0.2% -1.6 % Expected award life (years) 3-10 3-10 Expected volatility 46.8% -65.0 % 46.9% -65.0 % Expected dividend yield 2.4% -5.6 % 1.6% -2.2 % Weighted average fair value per share at grant date $ 5.39 $ 9.91 SARs: Risk free interest rate 1.6% -3.8 % 0.2 % Expected award life (years) 3-4 3 Expected volatility 61.6% -64.8 % 64.3 % Expected dividend yield 2.4% -5.6 % 1.6 % Weighted average fair value per share at grant date $ 6.34 $ 10.09 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Aggregate No. of Weighted Average Remaining Life Intrinsic Value Shares Exercise Price (in years) (in thousands) Outstanding, January 1, 2022 779,938 $ 16.12 3.27 $ 5,097 Granted 324,091 14.41 Exercised (85,840 ) 10.17 Lapsed or cancelled (55,414) 19.34 Outstanding, December 31, 2022 962,775 15.89 3.26 301 Exercisable, December 31, 2022 512,161 14.48 2.19 282 |
Share-Based Payment Arrangement, Stock Appreciation Right, Activity [Table Text Block] | Weighted Average Aggregate No. of Weighted Average Remaining Life Intrinsic Value Shares Exercise Price (in years) (in thousands) Outstanding, January 1, 2022 291,059 $ 14.99 2.65 $ 2,205 Granted 57,120 16.60 Exercised (24,836 ) 15.16 Lapsed or cancelled (2,958 ) 18.84 Outstanding, December 31, 2022 320,385 15.23 2.23 69 Exercisable, December 31, 2022 232,228 13.48 1.60 67 |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Weighted Average No. of Grant Date Shares Fair Value Outstanding, January 1, 2022 458,166 $ 19.51 Granted 66,544 14.82 Vested (133,740 ) 15.24 Forfeited (18,500 ) 14.68 Outstanding, December 31, 2022 372,470 20.45 |
Schedule of Nonvested Performance-Based Units Activity [Table Text Block] | Weighted Average No. of Grant Date Shares Fair Value Outstanding, January 1, 2022 193,523 $ 21.50 Granted 68,978 18.15 Vested (15,750 ) 16.97 Forfeited (47,300 ) 22.04 Outstanding, December 31, 2022 199,451 20.57 |
Note 14 - Net Income (Loss) P_2
Note 14 - Net Income (Loss) Per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended December 31, 2022 2021 Net income used in the computation of basic and diluted net income per share (in thousands) $ (31,970 ) $ 29,440 Weighted average shares outstanding - basic 15,764,859 15,438,849 Dilutive common stock equivalents - 652,221 Weighted average shares outstanding - diluted 15,764,859 16,091,070 Net income per share: Basic $ (2.03 ) $ 1.91 Diluted $ (2.03 ) $ 1.83 |
Note 15 - Net Sales (Tables)
Note 15 - Net Sales (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Years Ended December 31, 2022 2021 Branded Products Segment: Branded products $ 381,363 $ 309,906 Personal protective equipment 6,568 30,581 Total Branded Products Segment $ 387,931 $ 340,487 Healthcare Apparel Segment: Healthcare apparel $ 110,505 $ 131,267 Personal protective equipment 2,816 8,021 Total Healthcare Apparel Segment $ 113,321 $ 139,288 Contact Centers Segment: Contact centers services $ 84,218 $ 64,312 Net intersegment eliminations (6,639 ) (7,101 ) Total Contact Centers Segment $ 77,579 $ 57,211 Consolidated Net Sales $ 578,831 $ 536,986 |
Schedule of Accounts Receivables and Contract Assets [Table Text Block] | December 31, 2022 2021 Accounts receivable $ 104,813 $ 107,053 Current contract assets 52,980 38,018 Current contract liabilities 2,213 8,804 |
Note 17 - Operating Segment I_2
Note 17 - Operating Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Branded Products Healthcare Apparel Contact Centers Intersegment Eliminations Other Total As of and For the Year Ended December 31, 2022: Net sales $ 387,931 $ 113,321 $ 84,218 $ (6,639 ) $ - $ 578,831 Cost of goods sold 273,134 80,719 34,439 (2,820 ) - 385,472 Gross margin 114,797 32,602 49,779 (3,819 ) - 193,359 Selling and administrative expenses 90,118 39,295 33,631 (3,819 ) 17,095 176,320 Goodwill impairment charge 25,595 20,323 - - - 45,918 Intangible assets impairment charge 5,581 - - - - 5,581 Other periodic pension cost - - - - 2,116 2,116 Gain on sale of property, plant and equipment - - - - 3,435 3,435 Interest expense 288 118 - - 4,488 4,894 Income (loss) before taxes on income $ (6,785 ) $ (27,134 ) $ 16,148 $ - $ (20,264 ) $ (38,035 ) Depreciation and amortization $ 6,465 $ 3,946 $ 2,373 $ - $ 220 $ 13,004 Capital expenditures $ 4,643 $ 1,169 $ 4,876 $ - $ 330 $ 11,018 Total assets $ 224,116 $ 150,335 $ 43,368 $ - $ 39,122 $ 456,941 Branded Products Healthcare Apparel Contact Centers Intersegment Eliminations Other Total As of and For the Year Ended December 31, 2021: Net sales $ 340,487 $ 139,288 $ 64,312 $ (7,101 ) $ - $ 536,986 Cost of goods sold 240,331 87,142 26,671 (3,172 ) - 350,972 Gross margin 100,156 52,146 37,641 (3,929 ) - 186,014 Selling and administrative expenses 70,035 35,733 23,756 (3,929 ) 16,465 142,060 Other periodic pension cost - - - - 1,786 1,786 Pension plan termination charge - - - - 7,821 7,821 Interest expense 73 154 - - 993 1,220 Income before taxes on income $ 30,048 $ 16,259 $ 13,885 $ - $ (27,065 ) $ 33,127 Depreciation and amortization $ 4,327 $ 3,372 $ 1,483 $ - $ 109 $ 9,291 Capital expenditures $ 9,415 $ 4,860 $ 3,421 $ - $ - $ 17,696 Total assets $ 244,410 $ 170,582 $ 29,315 $ - $ 25,938 $ 470,245 |
Note 18 - Acquisition of Busi_2
Note 18 - Acquisition of Businesses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Accounts receivable $ 251 Prepaid expenses and other current assets 196 Property, plant and equipment 60 Intangible assets 3,673 Goodwill 2,417 Total assets $ 6,597 Accounts payable 199 Other current liabilities 372 Total liabilities $ 571 Accounts receivable $ 4,701 Inventories 9,149 Prepaid expenses and other current assets 135 Property, plant and equipment 1,043 Operating lease right-of-use assets 648 Intangible assets 2,031 Goodwill 1,019 Other assets 41 Total assets $ 18,767 Accounts payable 3,209 Other current liabilities 389 Long-term debt 758 Long-term operating lease liabilities 489 Total liabilities $ 4,845 Accounts receivable $ 1,656 Inventories 621 Prepaid expenses and other current assets 272 Property, plant and equipment 15 Intangible assets 5,886 Goodwill 6,463 Total assets $ 14,913 Accounts payable 533 Other current liabilities 184 Total liabilities $ 717 |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cash consideration $ 10,533 Restricted shares of Superior common stock issued 869 Contingent consideration 2,520 Total Consideration $ 13,922 Cash consideration $ 11,077 Restricted shares of Superior common stock issued 2,000 Contingent consideration 1,119 Total Consideration $ 14,196 |
Note 1 - Description of Busin_3
Note 1 - Description of Business, Basis of Presentation and Summary of Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jun. 30, 2022 USD ($) | |
Proceeds from Sale of Property, Plant, and Equipment, Total | $ 4,795 | $ 0 | |
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 3,435 | 0 | |
Goodwill, Impairment Loss | 45,918 | 0 | |
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | 5,581 | 0 | |
Open Option Contracts Written, at Fair Value | 2,032 | 0 | |
Unrealized Gain (Loss) on Derivatives | 1,565 | 0 | |
Retained Earnings (Accumulated Deficit), Total | 122,979 | 163,836 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Retained Earnings (Accumulated Deficit), Total | $ (100) | ||
Put Option [Member] | |||
Open Option Contracts Written, Number of Shares | 207,970 | 207,970 | |
Open Option Contracts, Expiration Period (Month) | 24 months | ||
Open Option Contracts Written, at Fair Value | $ 2,000 | $ 3,600 | |
Unrealized Gain (Loss) on Derivatives | 1,600 | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Five Largest [Member] | |||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 21,400 | $ 29,600 | |
Concentration Risk, Percentage | 20% | 28% | |
Branded Products Segment [Member] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill), Ending Balance | $ 13,600 | ||
Healthcare Apparel Segment [Member] | |||
Indefinite-Lived Intangible Assets (Excluding Goodwill), Ending Balance | $ 14,200 |
Note 1 - Description of Busin_4
Note 1 - Description of Business, Basis of Presentation and Summary of Accounting Policies - Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Building [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 20 years |
Building [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 40 years |
Building Improvements [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Building Improvements [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 40 years |
Machinery, Equipment and Fixtures [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 3 years |
Machinery, Equipment and Fixtures [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 10 years |
Note 2 - Allowance for Doubtf_3
Note 2 - Allowance for Doubtful Accounts Receivable - Allowance for Doubtful Accounts Receivable (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Balance at the beginning of year | $ 6,393 | $ 7,667 |
Provision for bad debts - accounts receivable | 2,891 | 2,260 |
Charge-offs | (1,686) | (3,653) |
Recoveries | 24 | 119 |
Balance at the end of year | $ 7,622 | $ 6,393 |
Note 3 - Reserve for Sales Re_3
Note 3 - Reserve for Sales Returns and Allowance - Reserve for Sales Returns and Allowances (Details) - Allowance For Sales Returns 1 [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Balance at the beginning of year | $ 2,636 | $ 3,365 |
Provision for returns and allowances | 4,512 | 4,911 |
Actual returns and allowances paid to customers | (5,058) | (5,640) |
Balance at the end of year | $ 2,090 | $ 2,636 |
Note 4 - Inventories - Inventor
Note 4 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Finished goods | $ 94,228 | $ 90,395 |
Work in process | 401 | 1,351 |
Raw materials | 30,347 | 28,809 |
Inventories | $ 124,976 | $ 120,555 |
Note 5 - Property, Plant and _3
Note 5 - Property, Plant and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 13,004 | $ 9,291 |
Property, Plant and Equipment [Member] | ||
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 7,900 | $ 5,100 |
Note 5 - Property, Plant and _4
Note 5 - Property, Plant and Equipment, Net - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Property, plant and equipment, gross | $ 122,565 | $ 113,994 |
Accumulated depreciation | (71,173) | (64,304) |
Property, plant and equipment, net | 51,392 | 49,690 |
Land [Member] | ||
Property, plant and equipment, gross | 2,494 | 3,085 |
Buildings Improvements and Leaseholds [Member] | ||
Property, plant and equipment, gross | 18,652 | 19,558 |
Machinery, Equipment and Fixtures [Member] | ||
Property, plant and equipment, gross | $ 101,419 | $ 91,351 |
Note 6 - Goodwill and Intangi_3
Note 6 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Goodwill, Impairment Loss | $ 45,918 | $ 0 |
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | 5,581 | 0 |
Amortization of Intangible Assets | 5,100 | $ 4,200 |
Trade Names [Member] | ||
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | $ 5,600 |
Note 6 - Goodwill and Intangi_4
Note 6 - Goodwill and Intangible Assets - Summary of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Gross goodwill | $ 39,434 | $ 36,116 |
Accumulated impairment losses | 0 | 0 |
Net goodwill | 39,434 | 36,116 |
Additions | 6,463 | 3,363 |
Foreign currency translation | 21 | (45) |
Net goodwill | 0 | 39,434 |
Impairment charge | (45,918) | 0 |
Gross goodwill | 45,918 | 39,434 |
Accumulated impairment losses | (45,918) | 0 |
Branded Products [Member] | ||
Gross goodwill | 19,111 | 15,793 |
Accumulated impairment losses | 0 | 0 |
Net goodwill | 19,111 | 15,793 |
Additions | 6,463 | 3,363 |
Foreign currency translation | 21 | (45) |
Net goodwill | 0 | 19,111 |
Impairment charge | (25,595) | |
Gross goodwill | 25,595 | 19,111 |
Accumulated impairment losses | (25,595) | 0 |
Healthcare Apparel [Member] | ||
Gross goodwill | 20,323 | 20,323 |
Accumulated impairment losses | 0 | 0 |
Net goodwill | 20,323 | 20,323 |
Additions | 0 | 0 |
Foreign currency translation | 0 | 0 |
Net goodwill | 0 | 20,323 |
Impairment charge | (20,323) | |
Gross goodwill | 20,323 | 20,323 |
Accumulated impairment losses | $ (20,323) | $ 0 |
Note 6 - Goodwill and Intangi_5
Note 6 - Goodwill and Intangible Assets - Summary of Indefinite-lived Trade Names (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Indefinite-lived Intangible Assets, impairment charges | $ (5,581) | $ 0 |
HPI Trade Name [Member] | Branded Products [Member] | ||
Indefinite-lived Intangible Assets, carrying amount | 4,700 | |
Indefinite-lived Intangible Assets, impairment charges | 0 | |
Indefinite-lived Intangible Assets, carrying amount | 4,700 | 4,700 |
BAMKO Trade Name [Member] | Branded Products [Member] | ||
Indefinite-lived Intangible Assets, carrying amount | 8,900 | |
Indefinite-lived Intangible Assets, impairment charges | 0 | |
Indefinite-lived Intangible Assets, carrying amount | 8,900 | 8,900 |
Public Identity Trade Name [Member] | Branded Products [Member] | ||
Indefinite-lived Intangible Assets, carrying amount | 470 | |
Indefinite-lived Intangible Assets, impairment charges | (470) | |
Indefinite-lived Intangible Assets, carrying amount | 0 | 470 |
Tangerine Trade Name [Member] | Branded Products [Member] | ||
Indefinite-lived Intangible Assets, carrying amount | 3,200 | |
Indefinite-lived Intangible Assets, impairment charges | (3,200) | |
Indefinite-lived Intangible Assets, carrying amount | 0 | 3,200 |
Gifts By Design Trade Name [Member] | Branded Products [Member] | ||
Indefinite-lived Intangible Assets, carrying amount | 1,170 | |
Indefinite-lived Intangible Assets, impairment charges | (1,170) | |
Indefinite-lived Intangible Assets, carrying amount | 0 | 1,170 |
Sutter's Mill Trade Name [Member] | Branded Products [Member] | ||
Indefinite-lived Intangible Assets, carrying amount | 741 | |
Indefinite-lived Intangible Assets, impairment charges | (741) | |
Indefinite-lived Intangible Assets, carrying amount | 0 | 741 |
CID Resources Trade Name [Member] | Healthcare Apparel [Member] | ||
Indefinite-lived Intangible Assets, carrying amount | 14,160 | |
Indefinite-lived Intangible Assets, impairment charges | 0 | |
Indefinite-lived Intangible Assets, carrying amount | 14,160 | 14,160 |
Trade Names 1 [Member] | ||
Indefinite-lived Intangible Assets, carrying amount | 33,341 | |
Indefinite-lived Intangible Assets, impairment charges | (5,581) | |
Indefinite-lived Intangible Assets, carrying amount | $ 27,760 | $ 33,341 |
Note 6 - Goodwill and Intangi_6
Note 6 - Goodwill and Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Definite-lived intangible assets, gross | $ 52,999 | $ 47,009 |
Definite-lived intangible assets, accumulated amortization | (25,006) | (19,930) |
Total intangible assets, gross | 80,759 | 80,350 |
Trade Names 1 [Member] | ||
Trade names | $ 27,760 | 33,341 |
Customer Relationships [Member] | ||
Weighted average life (Year) | 11 years 8 months 12 days | |
Definite-lived intangible assets, gross | $ 50,198 | 45,198 |
Definite-lived intangible assets, accumulated amortization | $ (23,330) | (18,772) |
Noncompete Agreements [Member] | ||
Weighted average life (Year) | 5 years 4 months 24 days | |
Definite-lived intangible assets, gross | $ 1,712 | 1,536 |
Definite-lived intangible assets, accumulated amortization | $ (1,367) | (1,121) |
Trademarks [Member] | ||
Weighted average life (Year) | 10 years | |
Definite-lived intangible assets, gross | $ 379 | 275 |
Definite-lived intangible assets, accumulated amortization | $ (72) | (37) |
Trade Names [Member] | ||
Weighted average life (Year) | 2 years | |
Definite-lived intangible assets, gross | $ 710 | 0 |
Definite-lived intangible assets, accumulated amortization | $ (237) | $ 0 |
Note 6 - Goodwill and Intangi_7
Note 6 - Goodwill and Intangible Assets - Schedule of Estimated Future Intangible Amortization Expense (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
2023 | $ 4,616 |
2024 | 3,716 |
2025 | 3,066 |
2026 | 3,058 |
2027 | 3,017 |
Thereafter | 10,520 |
Total | $ 27,993 |
Note 7 - Other Current Liabil_3
Note 7 - Other Current Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Salaries, wages, commissions and compensated absences | $ 14,316 | $ 17,374 |
Contract liabilities | 2,213 | 8,804 |
Accrued rebates | 2,090 | 2,526 |
Written put options | 2,032 | 0 |
401K profit sharing accrual | 0 | 880 |
Other accrued expenses | 14,860 | 7,317 |
Other current liabilities | 38,646 | 38,989 |
Other Current Liabilities [Member] | ||
Current operating lease liabilities | $ 3,135 | $ 2,088 |
Note 8 - Long-term Debt (Detail
Note 8 - Long-term Debt (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Aug. 23, 2022 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Debt Issuance Costs, Net | $ 808 | $ 624 | ||
Long-Term Debt, Maturity, Year One | 3,750 | |||
Long-Term Debt, Maturity, Year Two | 4,688 | |||
Long-Term Debt, Maturity, Year Three | 5,625 | |||
Long-Term Debt, Maturity, Year Four | 6,562 | |||
Long-Term Debt, Maturity, Year Five | $ 135,500 | |||
Debt Instrument Covenant Fixed Charge Coverage Ratio | 1.73 | |||
Debt Instrument Covenant, Net Leverage Ratio | 3.85 | |||
Interest Rate Swap [Member] | Interest Expense [Member] | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | $ 200 | $ 100 | ||
Credit Agreement [Member] | ||||
Debt Instrument Covenant Fixed Charge Coverage Ratio | 1.25 | |||
Debt Instrument Covenant, Net Leverage Ratio | 4 | |||
Credit Agreement [Member] | PNC Bank [Member] | ||||
Line of Credit Facility, Additional Capacity Available | $ 75,000 | |||
Debt Issuance Costs, Net | $ 900 | |||
Debt Instrument, Interest Rate During Period | 6.20% | |||
Credit Agreement [Member] | PNC Bank [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Minimum [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.10% | |||
Credit Agreement [Member] | PNC Bank [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Maximum [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | |||
Credit Agreement [Member] | PNC Bank [Member] | Adjusted Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Minimum [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1% | |||
Credit Agreement [Member] | PNC Bank [Member] | Adjusted Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Maximum [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2% | |||
Credit Agreement [Member] | Truist Bank [Member] | ||||
Gain (Loss) on Extinguishment of Debt, Total | $ 500 | |||
Credit Agreement [Member] | Revolving Credit Facility [Member] | PNC Bank [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 125,000 | |||
Credit Agreement [Member] | Revolving Credit Facility [Member] | PNC Bank [Member] | Minimum [Member] | ||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.125% | |||
Credit Agreement [Member] | Revolving Credit Facility [Member] | PNC Bank [Member] | Maximum [Member] | ||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | |||
Credit Agreement [Member] | Revolving Credit Facility [Member] | Truist Bank [Member] | ||||
Repayments of Lines of Credit | $ 118,500 | |||
Credit Agreement [Member] | Term Loan [Member] | PNC Bank [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 75,000 | |||
Long-Term Debt, Maturity, Year One | $ 3,700 | |||
Long-Term Debt, Maturity, Year Two | 4,700 | |||
Long-Term Debt, Maturity, Year Three | 5,600 | |||
Long-Term Debt, Maturity, Year Four | 6,600 | |||
Long-Term Debt, Maturity, Year Five | $ 52,500 | |||
Credit Agreement [Member] | Term Loan [Member] | Truist Bank [Member] | ||||
Repayments of Lines of Credit | $ 45,500 |
Note 8 - Long-term Debt - Long-
Note 8 - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Long-term debt, gross | $ 156,125 | $ 116,755 |
Payments due within one year included in current liabilities | 3,750 | 15,286 |
Debt Issuance Costs, Net | 808 | 624 |
Long-term debt less current maturities | 151,567 | 100,845 |
PNC Bank [Member] | Term Loan Maturing January 2026 [Member] | ||
Long-term debt, gross | 0 | 40,238 |
PNC Bank [Member] | Revolving Credit Facility [Member] | ||
Long-term debt, gross | 83,000 | 0 |
BB&T [Member] | Term Loan Maturing May 2020 [Member] | ||
Long-term debt, gross | 73,125 | 0 |
BB&T [Member] | Term Loan Maturing February 26, 2024 [Member] | ||
Long-term debt, gross | 0 | 15,000 |
Truist Bank [Member] | Revolving Credit Facility [Member] | ||
Long-term debt, gross | $ 0 | $ 61,517 |
Note 8 - Long-term Debt - Contr
Note 8 - Long-term Debt - Contractual Maturities of Debt (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Long-Term Debt, Maturity, Year One | $ 3,750 |
Long-Term Debt, Maturity, Year Two | 4,688 |
Long-Term Debt, Maturity, Year Three | 5,625 |
Long-Term Debt, Maturity, Year Four | 6,562 |
Long-Term Debt, Maturity, Year Five | 135,500 |
Thereafter | 0 |
Total debt | $ 156,125 |
Note 9 - Income Tax Expense (_3
Note 9 - Income Tax Expense (Benefit) (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0.2 | $ 0.1 | |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | 0.2 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0.2 | ||
Other Noncurrent Liabilities [Member] | |||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 0.8 | $ 0.8 | $ 0.8 |
Note 9 - Income Tax Expense (_4
Note 9 - Income Tax Expense (Benefit) - Schedule of Components of Income (Loss) Before Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Domestic | $ (59,407) | $ 16,639 |
Foreign | 21,372 | 16,488 |
Income (loss) before taxes on income | $ (38,035) | $ 33,127 |
Note 9 - Income Tax Expense (_5
Note 9 - Income Tax Expense (Benefit)- Income Tax Provisions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Federal | $ 3,580 | $ 4,035 |
State and local | 1,314 | 777 |
Foreign | 1,399 | 2,033 |
Current Income Tax Expense (Benefit), Total | 6,293 | 6,845 |
Deferred tax benefit | (12,358) | (3,158) |
Income tax expense (benefit) | $ (6,065) | $ 3,687 |
Note 9 - Income Tax Expense (_6
Note 9 - Income Tax Expense (Benefit) - Deferred Income Tax Asset (Liability) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Pension accruals | $ 3,513 | $ 4,023 |
Operating reserves and other accruals | 7,962 | 5,520 |
Book carrying value in excess of tax basis of intangibles | 2,321 | 0 |
Capitalized research expenses | (1,704) | 0 |
Tax credits | 0 | 527 |
Book carrying value in excess of tax basis of property | (4,183) | (4,814) |
Book carrying value in excess of tax basis of intangibles | 0 | (5,076) |
Deferred expenses | (599) | (539) |
Net deferred income tax asset | 10,718 | 359 |
Net deferred income tax liability | $ (10,718) | $ (359) |
Note 9 - Income Tax Expense (_7
Note 9 - Income Tax Expense (Benefit) - Income Tax Rate Reconciliation (Details) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Statutory federal income tax rate | 21% | 21% |
State and local income taxes, net of federal income tax benefit | 3.40% | 1.40% |
Rate impacts due to foreign operations | 4.30% | (6.70%) |
Changes in uncertain tax positions | 0% | (0.50%) |
Compensation related | (0.80%) | (1.60%) |
Pension termination | (0.30%) | (1.80%) |
R&D tax credits | 0.70% | (0.40%) |
Impairment charge | (11.70%) | 0% |
Other | (0.70%) | (0.30%) |
Effective income tax rate | 15.90% | 11.10% |
Note 9 - Income Tax Expense (_8
Note 9 - Income Tax Expense (Benefit) - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Reductions due to lapse of statute of limitations | $ (200) | |
Excluding Interest and Penalties [Member] | ||
Balance at the beginning of year | 801 | $ 993 |
Additions based on tax positions related to the current year | 0 | 94 |
Additions for tax positions of prior years | 129 | 23 |
Reductions due to lapse of statute of limitations | (123) | (309) |
Balance at the end of year | $ 807 | $ 801 |
Note 10 - Benefit Plans (Detail
Note 10 - Benefit Plans (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 USD ($) yr | Dec. 31, 2021 USD ($) | |
Defined Benefit Plans Number of Plans | 2 | |
Defined Benefit Plans Retirement Age (Year) | yr | 65 | |
Defined Benefit Plan, Termination Charge | $ 0 | $ 7,821 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan, Total | (15,108) | |
Other Assets [Member] | Nonqualified Plan [Member] | ||
Cash Surrender Value of Life Insurance | 7,700 | 7,900 |
Other Noncurrent Liabilities [Member] | Nonqualified Plan [Member] | ||
Deferred Compensation Liability, Classified, Noncurrent, Total | 7,700 | 7,800 |
Noncontributory Qualified Defined Pension Plans [Member] | ||
Defined Benefit Plan, Benefit Obligation, Payment for Settlement | 14,300 | |
Defined Benefit Plan, Termination Charge | 7,800 | |
Noncontributory Qualified Defined Pension Plans [Member] | Annuitization Benefit [Member] | ||
Guaranteed Benefit Liability, Net, Ending Balance | 3,100 | |
Supplemental Employee Retirement Plan [Member] | ||
Defined Benefit Plan, Funded (Unfunded) Status of Plan, Total | (12,993) | (15,523) |
Defined Benefit Plan, Expected Amortization, Next Fiscal Year, Total | 200 | |
Postretirement Life Insurance [Member] | ||
Cash Surrender Value of Life Insurance | 3,900 | 4,600 |
Postretirement Life Insurance [Member] | Life Insurance Contracts [Member] | ||
Gain (Loss) on Investments, Total | (800) | $ 600 |
401(K) Plan [Member} | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 25% | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 600 | $ 1,600 |
Note 10 - Benefit Plans - Defin
Note 10 - Benefit Plans - Defined Benefit Plans Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Benefit obligation at beginning of year | $ 15,654 | $ 33,115 |
Service cost on benefits earned during the period | 185 | |
Interest cost on projected benefit obligation | 508 | |
Actuarial (gain) loss | 778 | |
Benefits paid | (230) | |
Lump sum benefits paid | (17,430) | |
Amendments | 711 | |
Effect of settlement/curtailment | (1,983) | |
Benefit obligation at end of year | 15,654 | |
Fair value of plan assets at beginning of year | 546 | 18,754 |
Actual return on assets | (637) | |
Employer contributions | (89) | |
Employer contributions | 89 | |
Benefits paid | (230) | |
Lump sum benefits paid | (17,430) | |
Fair value of plan assets at end of year | 546 | |
Funded status at end of year | (15,108) | |
Other assets | 415 | |
Other current liabilities | (103) | |
Long-term pension liability | (15,420) | |
Net amount recognized | (15,108) | |
Net actuarial loss | 6,698 | |
Supplemental Employee Retirement Plan [Member] | ||
Benefit obligation at beginning of year | 15,523 | 14,337 |
Service cost on benefits earned during the period | 203 | 185 |
Interest cost on projected benefit obligation | 401 | 337 |
Actuarial (gain) loss | (3,031) | 767 |
Benefits paid | (103) | (103) |
Lump sum benefits paid | 0 | 0 |
Amendments | 0 | 0 |
Effect of settlement/curtailment | 0 | 0 |
Benefit obligation at end of year | 12,993 | 15,523 |
Fair value of plan assets at beginning of year | 0 | 0 |
Actual return on assets | 0 | 0 |
Employer contributions | (103) | (103) |
Employer contributions | 103 | 103 |
Benefits paid | (103) | (103) |
Lump sum benefits paid | 0 | 0 |
Fair value of plan assets at end of year | 0 | 0 |
Funded status at end of year | (12,993) | (15,523) |
Other assets | 0 | 0 |
Other current liabilities | (129) | (103) |
Long-term pension liability | (12,864) | (15,420) |
Net amount recognized | (12,993) | (15,523) |
Net actuarial loss | 1,953 | 6,698 |
Pension Plan [Member] | ||
Benefit obligation at beginning of year | 131 | 18,778 |
Service cost on benefits earned during the period | 0 | |
Interest cost on projected benefit obligation | 0 | 171 |
Actuarial (gain) loss | 11 | |
Benefits paid | (127) | |
Lump sum benefits paid | (17,430) | |
Amendments | 711 | |
Effect of settlement/curtailment | (1,983) | |
Benefit obligation at end of year | 131 | |
Fair value of plan assets at beginning of year | $ 546 | 18,754 |
Actual return on assets | (637) | |
Employer contributions | (14) | |
Employer contributions | 14 | |
Benefits paid | (127) | |
Lump sum benefits paid | (17,430) | |
Fair value of plan assets at end of year | 546 | |
Funded status at end of year | 415 | |
Other assets | 415 | |
Other current liabilities | 0 | |
Long-term pension liability | 0 | |
Net amount recognized | 415 | |
Net actuarial loss | $ 0 |
Note 10 - Benefit Plans - Pensi
Note 10 - Benefit Plans - Pension Plans With Projected Benefit Obligation in Excess of Plan Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Projected benefit obligation | $ 15,523 | |
Fair value of plan assets | 0 | |
Underfunded (Overfunded) | 15,523 | |
Pension Plan [Member] | ||
Projected benefit obligation | $ 12,993 | 15,654 |
Fair value of plan assets | 0 | (546) |
Underfunded (Overfunded) | $ 12,993 | 15,108 |
Supplemental Employee Retirement Plan [Member] | ||
Projected benefit obligation | 131 | |
Fair value of plan assets | (546) | |
Underfunded (Overfunded) | $ (415) |
Note 10 - Benefit Plans - Net P
Note 10 - Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Interest cost on projected benefit obligation | $ 508 | |
Service cost on benefits earned during the period | 185 | |
Pension Plan [Member] | ||
Interest cost on projected benefit obligation | $ 0 | 171 |
Expected return on plan assets | 0 | (597) |
Recognized actuarial loss | 0 | 376 |
Settlement loss | 0 | 0 |
Pension plan termination charge | 0 | 7,821 |
Net periodic pension cost after settlements | 0 | 7,771 |
Service cost on benefits earned during the period | 0 | |
Supplemental Employee Retirement Plan [Member] | ||
Interest cost on projected benefit obligation | 401 | 337 |
Recognized actuarial loss | 1,715 | 1,499 |
Net periodic pension cost after settlements | 2,319 | 2,021 |
Service cost on benefits earned during the period | $ 203 | $ 185 |
Note 10 - Benefit Plans - Assum
Note 10 - Benefit Plans - Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit (Details) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Benefit obligations, discount rate | 4.93% | 2.59% |
Benefit obligations, salary scale | 3% | |
Benefit cost, long term rate of return | 2.59% | |
Benefit cost, salary scale | 3% | |
Supplemental Employee Retirement Plan [Member] | ||
Benefit obligations, discount rate | 3% | |
Benefit cost, discount rate | 2.36% | |
Benefit cost, salary scale | 3% | |
Pension Plan [Member] | Corporate Segment [Member] | ||
Benefit cost, discount rate | 2.36% | |
Benefit cost, long term rate of return | 8% | |
Pension Plan [Member] | Plants [Member] | ||
Benefit cost, discount rate | 2.21% | |
Benefit cost, long term rate of return | 8% |
Note 10 - Benefit Plans - Proje
Note 10 - Benefit Plans - Projected Benefit Payments (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
2027 | $ 706 |
2028-2032 | 4,916 |
Pension Plan [Member] | |
2023 | 132 |
2024 | 1,280 |
2025 | 673 |
2026 | $ 695 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Operating Lease, Liability, Total | $ 7,071 | $ 5,800 |
Operating Lease, Liability, Noncurrent | 3,936 | 3,729 |
Operating Lease, Right-of-Use Asset | 9,113 | 8,246 |
Prepaid Rent | 2,000 | 2,400 |
Other Current Liabilities [Member] | ||
Operating Lease, Liability, Current | $ 3,135 | $ 2,088 |
Minimum [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 1 year | |
Maximum [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 8 years |
Note 11 - Leases - Lease Cost (
Note 11 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Operating lease costs | $ 4,027 | $ 2,074 |
Short-term lease costs | 889 | 602 |
Total lease costs | 4,916 | 2,676 |
Operating cash flows – cash paid for operating lease liabilities | 2,996 | 1,732 |
Non-cash – Operating lease right-of-use assets obtained in exchange for new lease liabilities | $ 4,089 | $ 4,945 |
Weighted-average remaining lease term (in years) (Year) | 2 years 6 months | 3 years 1 month 6 days |
Weighted average discount rate | 5.66% | 4.74% |
Note 11 - Leases - Maturities o
Note 11 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
2023 | $ 3,207 | |
2024 | 2,105 | |
2025 | 1,464 | |
2026 | 830 | |
2027 | 250 | |
Thereafter | 0 | |
Total lease payments | 7,856 | |
Less imputed interest | 785 | |
Present value of lease liabilities | $ 7,071 | $ 5,800 |
Note 12 - Contingencies (Detail
Note 12 - Contingencies (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Business Combination, Contingent Consideration, Liability, Current | $ 736 | $ 4,507 |
Sutter's Mill [Member] | ||
Business Combination, Contingent Consideration, Liability, Total | 1,500 | |
Sutter's Mill [Member] | Minimum [Member] | ||
Business Combination, Contingent Consideration, Liability, Current | 1,400 | |
Sutter's Mill [Member] | Maximum [Member] | ||
Business Combination, Contingent Consideration, Liability, Current | 3,000 | |
Guardian Products, Inc [Member] | ||
Business Combination, Contingent Consideration, Liability, Total | 1,500 | |
Business Combination, Contingent Consideration, Liability, Current | 700 | |
Guardian Products, Inc [Member] | Minimum [Member] | ||
Business Combination, Contingent Consideration, Liability, Current | 1,800 | |
Guardian Products, Inc [Member] | Maximum [Member] | ||
Business Combination, Contingent Consideration, Liability, Current | $ 2,500 |
Note 13 - Share-based Compens_3
Note 13 - Share-based Compensation (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 2,000,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 1,712,378 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 5 years | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 500 | $ 4,500 | |
Proceeds from Stock Options Exercised | 728 | 2,703 | |
Share-based Payment Arrangement, Exercise of Option, Tax Benefit | 900 | ||
Share-Based Payment Arrangement, Option [Member] | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,400 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 24 days | ||
Stock Appreciation Rights (SARs) [Member] | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 100 | 800 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 6 days | ||
Employee Service Share-based Compensation, Tax Benefit from Exercise of Equity Instruments Other than Options | $ 100 | ||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 200 | ||
Restricted Stock [Member] | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 7 months 6 days | ||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 4,600 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||
Restricted Stock [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | ||
Performance Shares [Member] | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 7 months 6 days | ||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 2,400 | ||
Performance Shares [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | ||
Performance Shares [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||
Common Stock [Member] | |||
Shares Received from Stock Options Exercised (in shares) | 9,738 | 17,365 | |
Stock Issued During Period, Shares, New Issues (in shares) | 11,784 | 24,591 | |
Outside Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years |
Note 13 - Share-based Compens_4
Note 13 - Share-based Compensation - Shared-based Compensation Expense and the Related Tax Benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based compensation expense | $ 4,289 | $ 4,010 |
Related income tax benefit | 804 | 760 |
Stock Options and SARs [Member] | ||
Share-based compensation expense | 1,472 | 1,420 |
Restricted Stock [Member] | ||
Share-based compensation expense | 2,598 | 2,241 |
Performance Shares [Member] | ||
Share-based compensation expense | $ 219 | $ 349 |
Note 13 - Share-based Compens_5
Note 13 - Share-based Compensation - Summary of Significant Assumptions for Share-based Compensation Awards (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-Based Payment Arrangement, Option [Member] | ||
Weighted average fair value per share at grant date (in dollars per share) | $ 5.39 | $ 9.91 |
Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | ||
Expected award life (years) (Year) | 3 years | 3 years |
Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | ||
Expected award life (years) (Year) | 10 years | 10 years |
Stock Appreciation Rights (SARs) [Member] | ||
Risk free interest rate | 0.20% | |
Expected award life (years) (Year) | 3 years | |
Expected volatility | 64.30% | |
Expected dividend yield | 1.60% | |
Weighted average fair value per share at grant date (in dollars per share) | $ 6.34 | $ 10.09 |
Stock Appreciation Rights (SARs) [Member] | Minimum [Member] | ||
Expected award life (years) (Year) | 3 years | |
Stock Appreciation Rights (SARs) [Member] | Maximum [Member] | ||
Expected award life (years) (Year) | 4 years |
Note 13 - Share-based Compens_6
Note 13 - Share-based Compensation - Stock Option Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Outstanding, options (in shares) | 779,938 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 16.12 | |
Outstanding, weighted average remaining life (Year) | 3 years 3 months 3 days | 3 years 3 months 7 days |
Outstanding, aggregate intrinsic value | $ 301 | $ 5,097 |
Granted (in shares) | 324,091 | |
Granted, weighted average exercise price (in dollars per share) | $ 14.41 | |
Exercised (in shares) | (85,840) | |
Exercised, weighted average exercise price (in dollars per share) | $ 10.17 | |
Lapsed or cancelled (in shares) | (55,414) | |
Lapsed or cancelled, weighted average exercise price (in dollars per share) | $ 19.34 | |
Outstanding, options (in shares) | 962,775 | 779,938 |
Outstanding, weighted average exercise price (in dollars per share) | $ 15.89 | $ 16.12 |
Exercisable, options (in shares) | 512,161 | |
Exercisable, weighted average exercise price, options (in dollars per share) | $ 14.48 | |
Exercisable, weighted average remaining life (Year) | 2 years 2 months 8 days | |
Exercisable, aggregate intrinsic value, options | $ 282 |
Note 13 - Share-based Compens_7
Note 13 - Share-based Compensation - Stock-settled Stock Appreciation Rights Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Lapsed or cancelled (in shares) | (55,414) | |
Lapsed or cancelled, weighted average exercise price (in dollars per share) | $ 19.34 | |
Stock Appreciation Rights (SARs) [Member] | ||
Outstanding SARS (in shares) | 291,059 | |
Outstanding (in dollars per share) | $ 14.99 | |
Outstanding SARS, weighted average remaining life (Year) | 2 years 2 months 23 days | 2 years 7 months 24 days |
Outstanding SARS, aggregate intrinsic value | $ 2,205 | |
Granted SARs (in shares) | 57,120 | |
Granted SARS, weighted average exercise price (in dollars per share) | $ 16.60 | |
Exercised SARs (in shares) | (24,836) | |
Exercised SARS, weighted average exercise price (in dollars per share) | $ 15.16 | |
Lapsed or cancelled (in shares) | (2,958) | |
Lapsed or cancelled, weighted average exercise price (in dollars per share) | $ 18.84 | |
Outstanding SARS (in shares) | 320,385 | 291,059 |
Outstanding SARS, weighted average exercise price (in dollars per share) | $ 15.23 | $ 14.99 |
Outstanding SARS, aggregate intrinsic value | $ 69 | $ 2,205 |
Exercisable (in shares) | 232,228 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 13.48 | |
Exercisable SARS, weighted average remaining life (Year) | 1 year 7 months 6 days | |
Exercisable, aggregate intrinsic value | $ 67 |
Note 13 - Share-based Compens_8
Note 13 - Share-based Compensation - Restricted Stock Transactions (Details) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Outstanding (in shares) | shares | 458,166 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 19.51 |
Granted (in shares) | shares | 66,544 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 14.82 |
Vested (in shares) | shares | (133,740) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 15.24 |
Forfeited (in shares) | shares | (18,500) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 14.68 |
Outstanding (in shares) | shares | 372,470 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 20.45 |
Note 13 - Share-based Compens_9
Note 13 - Share-based Compensation - Performance Share Transactions (Details) - Performance Shares [Member] | 12 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Outstanding (in shares) | shares | 193,523 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 21.50 |
Granted (in shares) | shares | 68,978 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 18.15 |
Vested (in shares) | shares | (15,750) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 16.97 |
Forfeited (in shares) | shares | (47,300) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 22.04 |
Outstanding (in shares) | shares | 199,451 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 20.57 |
Note 14 - Net Income (Loss) P_3
Note 14 - Net Income (Loss) Per Share (Details Textual) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Antidilutive Securities Excluded From Computation Of Earnings Weighted Average Shares Outstanding (in shares) | 400,381 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 687,117 | 171,522 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Weight Average Exercise Price (in dollars per share) | $ 21.06 | $ 25.42 |
Note 14 - Net Income (Loss) P_4
Note 14 - Net Income (Loss) Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Net income (loss) | $ (31,970) | $ 29,440 |
Weighted average shares outstanding - basic (in shares) | 15,764,859 | 15,438,849 |
Dilutive common stock equivalents (in shares) | 0 | 652,221 |
Weighted average number of shares outstanding during the period, diluted (in shares) | 15,764,859 | 16,091,070 |
Basic (in dollars per share) | $ (2.03) | $ 1.91 |
Diluted (in dollars per share) | $ (2.03) | $ 1.83 |
Note 15 - Net Sales (Details Te
Note 15 - Net Sales (Details Textual) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Contract with Customer, Liability, Revenue Recognized | $ 7.7 |
Note 15 - Net Sales - Disaggreg
Note 15 - Net Sales - Disaggregated Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Net sales | $ 578,831 | $ 536,986 |
Intersegment Eliminations [Member] | ||
Net sales | (6,639) | (7,101) |
Branded Products Segment [Member] | ||
Net sales | 387,931 | 340,487 |
Branded Products Segment [Member] | Branded Products [Member] | ||
Net sales | 381,363 | 309,906 |
Branded Products Segment [Member] | Protective Equipment [Member] | ||
Net sales | 6,568 | 30,581 |
Healthcare Apparel Segment [Member] | ||
Net sales | 113,321 | 139,288 |
Healthcare Apparel Segment [Member] | Protective Equipment [Member] | ||
Net sales | 2,816 | 8,021 |
Healthcare Apparel Segment [Member] | Healthcare Apparel [Member] | ||
Net sales | 110,505 | 131,267 |
Contact Centers Segment [Member] | ||
Net sales | 77,579 | 57,211 |
Contact Centers Segment [Member] | Intersegment Eliminations [Member] | ||
Net sales | (6,639) | (7,101) |
Contact Centers Segment [Member] | Contact Centers [Member] | ||
Net sales | $ 84,218 | $ 64,312 |
Note 15 - Net Sales - Accounts
Note 15 - Net Sales - Accounts Receivable and Contract Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Accounts receivable | $ 104,813 | $ 107,053 |
Current contract assets | 52,980 | 38,018 |
Current contract liabilities | $ 2,213 | $ 8,804 |
Note 16 - Stock Repurchase Pl_2
Note 16 - Stock Repurchase Plan (Details Textual) - shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | May 02, 2019 | |
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | 657,451 | 750,000 | |
Stock Repurchased and Retired During Period, Shares (in shares) | 0 | 0 |
Note 17 - Operating Segment I_3
Note 17 - Operating Segment Information - Information Related to the Operations of the Company's Operating Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Net sales | $ 578,831 | $ 536,986 |
Cost of goods sold | 385,472 | 350,972 |
Gross margin | 193,359 | 186,014 |
Selling and administrative expenses | 176,320 | 142,060 |
Goodwill, Impairment Loss | 45,918 | 0 |
Intangible assets impairment charge | 5,581 | 0 |
Other periodic pension cost | 2,116 | 1,786 |
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 3,435 | 0 |
Interest expense | 4,894 | 1,220 |
Income (loss) before taxes on income | (38,035) | 33,127 |
Depreciation and amortization | 13,004 | 9,291 |
Capital expenditures | 11,018 | 17,696 |
Total assets | 456,941 | 470,245 |
Pension plan termination charge | 0 | 7,821 |
Branded Products [Member] | ||
Goodwill, Impairment Loss | 25,595 | |
Healthcare Apparel [Member] | ||
Goodwill, Impairment Loss | 20,323 | |
Operating Segments [Member] | Branded Products [Member] | ||
Net sales | 387,931 | 340,487 |
Cost of goods sold | 273,134 | 240,331 |
Gross margin | 114,797 | 100,156 |
Selling and administrative expenses | 90,118 | 70,035 |
Goodwill, Impairment Loss | 25,595 | |
Intangible assets impairment charge | 5,581 | |
Other periodic pension cost | 0 | 0 |
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 0 | |
Interest expense | 288 | 73 |
Income (loss) before taxes on income | (6,785) | 30,048 |
Depreciation and amortization | 6,465 | 4,327 |
Capital expenditures | 4,643 | 9,415 |
Total assets | 224,116 | 244,410 |
Pension plan termination charge | 0 | |
Operating Segments [Member] | Healthcare Apparel [Member] | ||
Net sales | 113,321 | 139,288 |
Cost of goods sold | 80,719 | 87,142 |
Gross margin | 32,602 | 52,146 |
Selling and administrative expenses | 39,295 | 35,733 |
Goodwill, Impairment Loss | 20,323 | |
Intangible assets impairment charge | 0 | |
Other periodic pension cost | 0 | 0 |
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 0 | |
Interest expense | 118 | 154 |
Income (loss) before taxes on income | (27,134) | 16,259 |
Depreciation and amortization | 3,946 | 3,372 |
Capital expenditures | 1,169 | 4,860 |
Total assets | 150,335 | 170,582 |
Pension plan termination charge | 0 | |
Operating Segments [Member] | Contact Centers [Member] | ||
Net sales | 84,218 | 64,312 |
Cost of goods sold | 34,439 | 26,671 |
Gross margin | 49,779 | 37,641 |
Selling and administrative expenses | 33,631 | 23,756 |
Goodwill, Impairment Loss | 0 | |
Intangible assets impairment charge | 0 | |
Other periodic pension cost | 0 | 0 |
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 0 | |
Interest expense | 0 | 0 |
Income (loss) before taxes on income | 16,148 | 13,885 |
Depreciation and amortization | 2,373 | 1,483 |
Capital expenditures | 4,876 | 3,421 |
Total assets | 43,368 | 29,315 |
Pension plan termination charge | 0 | |
Intersegment Eliminations [Member] | ||
Net sales | (6,639) | (7,101) |
Cost of goods sold | (2,820) | (3,172) |
Gross margin | (3,819) | (3,929) |
Selling and administrative expenses | (3,819) | (3,929) |
Goodwill, Impairment Loss | 0 | |
Intangible assets impairment charge | 0 | |
Other periodic pension cost | 0 | 0 |
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 0 | |
Interest expense | 0 | 0 |
Income (loss) before taxes on income | 0 | 0 |
Depreciation and amortization | 0 | 0 |
Capital expenditures | 0 | 0 |
Total assets | 0 | 0 |
Pension plan termination charge | 0 | |
Segment Reconciling Items [Member] | ||
Net sales | 0 | 0 |
Cost of goods sold | 0 | 0 |
Gross margin | 0 | 0 |
Selling and administrative expenses | 17,095 | 16,465 |
Goodwill, Impairment Loss | 0 | |
Intangible assets impairment charge | 0 | |
Other periodic pension cost | 2,116 | 1,786 |
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 3,435 | |
Interest expense | 4,488 | 993 |
Income (loss) before taxes on income | (20,264) | (27,065) |
Depreciation and amortization | 220 | 109 |
Capital expenditures | 330 | 0 |
Total assets | $ 39,122 | 25,938 |
Pension plan termination charge | $ 7,821 |
Note 18 - Acquisition of Busi_3
Note 18 - Acquisition of Businesses (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
May 01, 2022 | Dec. 02, 2021 | Jan. 29, 2021 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Amortization of Intangible Assets | $ 5,100 | $ 4,200 | ||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||
Customer Relationships [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 11 years 8 months 12 days | |||||
Noncompete Agreements [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years 4 months 24 days | |||||
Trade Names [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 2 years | |||||
Gifts By Design [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 6,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 3,673 | |||||
Amortization of Intangible Assets | $ 400 | $ 300 | ||||
Gifts By Design [Member] | Trade Names 1 [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 1,200 | |||||
Gifts By Design [Member] | Customer Relationships [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 2,500 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years | |||||
Sutter's Mill [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 10,533 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 2,031 | |||||
Amortization of Intangible Assets | 200 | |||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 4,500 | |||||
Goodwill, Purchase Accounting Adjustments | $ 100 | |||||
Sutter's Mill [Member] | Restricted Stock [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 45,620 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||
Sutter's Mill [Member] | Trade Names 1 [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 700 | |||||
Sutter's Mill [Member] | Customer Relationships [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 1,200 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years | |||||
Sutter's Mill [Member] | Noncompete Agreements [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 100 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | |||||
Guardian Products, Inc [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 11,077 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 5,886 | |||||
Amortization of Intangible Assets | $ 700 | |||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 2,300 | |||||
Guardian Products, Inc [Member] | Restricted Stock [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 116,550 | |||||
Guardian Products, Inc [Member] | Customer Relationships [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 5,000 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years | |||||
Guardian Products, Inc [Member] | Noncompete Agreements [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 200 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | |||||
Guardian Products, Inc [Member] | Trade Names [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 700 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 2 years |
Note 18 - Acquisition of Busi_4
Note 18 - Acquisition of Businesses - Aggregate Consideration (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | May 01, 2022 | Dec. 31, 2021 | Dec. 02, 2021 | Jan. 29, 2021 | Dec. 31, 2020 |
Goodwill | $ 0 | $ 39,434 | $ 36,116 | |||
Gifts By Design [Member] | ||||||
Accounts receivable | $ 251 | |||||
Prepaid expenses and other current assets | 196 | |||||
Property, plant and equipment | 60 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 3,673 | |||||
Goodwill | 2,417 | |||||
Total assets | 6,597 | |||||
Accounts payable | 199 | |||||
Other current liabilities | 372 | |||||
Total liabilities | $ 571 | |||||
Sutter's Mill [Member] | ||||||
Accounts receivable | $ 4,701 | |||||
Prepaid expenses and other current assets | 135 | |||||
Property, plant and equipment | 1,043 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 2,031 | |||||
Goodwill | 1,019 | |||||
Total assets | 18,767 | |||||
Accounts payable | 3,209 | |||||
Other current liabilities | 389 | |||||
Total liabilities | 4,845 | |||||
Inventories | 9,149 | |||||
Operating lease right-of-use assets | 648 | |||||
Other assets | 41 | |||||
Long-term debt | 758 | |||||
Long-term operating lease liabilities | 489 | |||||
Inventories | $ 9,149 | |||||
Guardian Products, Inc [Member] | ||||||
Accounts receivable | $ 1,656 | |||||
Prepaid expenses and other current assets | 272 | |||||
Property, plant and equipment | 15 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 5,886 | |||||
Goodwill | 6,463 | |||||
Total assets | 14,913 | |||||
Accounts payable | 533 | |||||
Other current liabilities | 184 | |||||
Total liabilities | 717 | |||||
Inventories | 621 | |||||
Inventories | $ 621 |
Note 18 - Acquisition of Busi_5
Note 18 - Acquisition of Businesses - Purchase Price (Details) - USD ($) $ in Thousands | May 01, 2022 | Dec. 02, 2021 |
Sutter's Mill [Member] | ||
Payments to Acquire Businesses, Gross | $ 10,533 | |
Restricted shares of Superior common stock issued | 869 | |
Contingent consideration | 2,520 | |
Total Consideration | $ 13,922 | |
Guardian Products, Inc [Member] | ||
Payments to Acquire Businesses, Gross | $ 11,077 | |
Restricted shares of Superior common stock issued | 2,000 | |
Contingent consideration | 1,119 | |
Total Consideration | $ 14,196 |