Note 11 - Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Notes Tables |
|
| Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
| |
|
Year ended December 31 |
|
| |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Current: |
|
|
|
|
|
|
|
|
|
|
|
|
| Federal |
|
$ |
18,176 |
|
|
$ |
(2,854 |
) |
|
$ |
10,515 |
|
| State |
|
|
2,606 |
|
|
|
804 |
|
|
|
1,505 |
|
| |
|
|
20,782 |
|
|
|
(2,050 |
) |
|
|
12,020 |
|
| Deferred: |
|
|
|
|
|
|
|
|
|
|
|
|
| Federal |
|
|
(2,617 |
) |
|
|
7,709 |
|
|
|
(2,187 |
) |
| State |
|
|
(425 |
) |
|
|
(148 |
) |
|
|
(1,081 |
) |
| |
|
|
(3,042 |
) |
|
|
7,561 |
|
|
|
(3,268 |
) |
| |
|
$ |
17,740 |
|
|
$ |
5,511 |
|
|
$ |
8,752 |
|
|
| Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
| |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Federal income tax expense at statutory rate |
|
$ |
15,517 |
|
|
$ |
6,139 |
|
|
$ |
9,946 |
|
| State taxes, net of federal benefit |
|
|
2,295 |
|
|
|
762 |
|
|
|
1,445 |
|
| Valuation allowance |
|
|
(495 |
) |
|
|
(67 |
) |
|
|
(1,202 |
) |
| Change in uncertain tax positions, net |
|
|
540 |
|
|
|
225 |
|
|
|
356 |
|
| Research and development credit |
|
|
(704 |
) |
|
|
(1,012 |
) |
|
|
(1,333 |
) |
| Investment tax credit |
|
|
- |
|
|
|
(682 |
) |
|
|
- |
|
| State rate change |
|
|
(165 |
) |
|
|
92 |
|
|
|
(168 |
) |
| Other |
|
|
752 |
|
|
|
54 |
|
|
|
(292 |
) |
| |
|
$ |
17,740 |
|
|
$ |
5,511 |
|
|
$ |
8,752 |
|
|
| Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
| |
|
December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| Deferred tax assets: |
|
|
|
|
|
|
|
|
| Allowance for doubtful accounts |
|
$ |
588 |
|
|
$ |
413 |
|
| Inventory reserves |
|
|
1,749 |
|
|
|
1,468 |
|
| Warranty liability |
|
|
1,343 |
|
|
|
1,690 |
|
| Deferred compensation |
|
|
2,237 |
|
|
|
2,124 |
|
| Pension and retiree health benefit obligations |
|
|
866 |
|
|
|
1,225 |
|
| Accrued vacation |
|
|
844 |
|
|
|
1,137 |
|
| Research expenditures |
|
|
6,723 |
|
|
|
5,842 |
|
| Operating lease liabilities |
|
|
17,625 |
|
|
|
4,730 |
|
| Net operating losses |
|
|
1,194 |
|
|
|
1,663 |
|
| Other accrued liabilities |
|
|
4,550 |
|
|
|
4,376 |
|
| State credit carryforwards |
|
|
1,060 |
|
|
|
1,032 |
|
| Other |
|
|
338 |
|
|
|
404 |
|
| Valuation allowance |
|
|
(1,510 |
) |
|
|
(2,005 |
) |
| Total deferred tax assets |
|
|
37,607 |
|
|
|
24,099 |
|
| Deferred tax liabilities: |
|
|
|
|
|
|
|
|
| Interest rate swaps |
|
|
(573 |
) |
|
|
(994 |
) |
| Tax deductible goodwill and other intangibles |
|
|
(37,125 |
) |
|
|
(35,974 |
) |
| Accelerated depreciation |
|
|
(6,754 |
) |
|
|
(9,924 |
) |
| Operating leases - right of use assets |
|
|
(17,289 |
) |
|
|
(4,430 |
) |
| Other |
|
|
(440 |
) |
|
|
(680 |
) |
| Total deferred tax liabilities |
|
|
(62,181 |
) |
|
|
(52,002 |
) |
| Net deferred tax liabilities |
|
$ |
(24,574 |
) |
|
$ |
(27,903 |
) |
|
| Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] |
| |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Balance at beginning of year |
|
$ |
1,701 |
|
|
$ |
1,519 |
|
|
$ |
1,214 |
|
| Increases for tax positions taken in the current year |
|
|
681 |
|
|
|
277 |
|
|
|
350 |
|
| Increases for tax positions taken in prior years |
|
|
951 |
|
|
|
- |
|
|
|
- |
|
| Decreases due to lapses in the statute of limitations |
|
|
(828 |
) |
|
|
(95 |
) |
|
|
(45 |
) |
| Balance at the end of year |
|
$ |
2,505 |
|
|
$ |
1,701 |
|
|
$ |
1,519 |
|
|