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Document And Entity Information - USD ($) $ in Millions	12 Months Ended
Document And Entity Information - USD ($) $ in Millions	Dec. 31, 2019	Mar. 01, 2020	Jun. 30, 2019
Document Information [Line Items]
Entity Registrant Name	BEL FUSE INC /NJ
Entity Central Index Key	0000729580
Trading Symbol	belfa
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Public Float			$ 196.8
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Title of 12(b) Security	Class A Common Stock ($0.10 par value), Class B Common Stock ($0.10 par value)
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		10,123,602
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		2,144,912

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 72,289	$ 53,911
Accounts receivable, net of allowance for doubtful accounts of $1,171 and $1,638 at December 31, 2019 and 2018, respectively	76,092	91,939
Inventories	107,276	120,068
Unbilled receivables	16,318	15,799
Other current assets	11,206	8,792
Total current assets	283,181	290,509
Property, plant and equipment, net	41,943	43,932
Right-of-use assets	18,504
Intangible assets, net	72,364	62,689
Goodwill	21,993	19,817
Deferred income taxes	3,731	496
Other assets	27,201	26,081
Total assets	468,917	443,524
Current liabilities:
Accounts payable	44,169	56,171
Accrued expenses	26,918	32,290
Current maturities of long-term debt	5,489	2,508
Operating lease liability, current	7,377
Other current liabilities	6,265	15,061
Total current liabilities	90,218	106,030
Long-term liabilities:
Long-term debt	138,215	111,705
Operating lease liability, long-term	11,751
Liability for uncertain tax positions	26,901	27,553
Minimum pension obligation and unfunded pension liability	21,545	18,683
Deferred income taxes	1,726	1,161
Other long-term liabilities	10,510	1,922
Total liabilities	300,866	267,054
Commitments and contingencies
Stockholders' equity:
Preferred stock, no par value, 1,000,000 shares authorized; none issued
Additional paid-in capital	33,826	31,387
Retained earnings	157,063	168,695
Accumulated other comprehensive loss	(24,065)	(24,838)
Total stockholders' equity	168,051	176,470
Total liabilities and stockholders' equity	468,917	443,524
Common Class A [Member]
Stockholders' equity:
Common stock	214	217
Common Class B [Member]
Stockholders' equity:
Common stock	$ 1,013	$ 1,009

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accounts receivable, allowance for doubtful accounts	$ 1,171	$ 1,638
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares outstanding (in shares)	2,144,912	2,174,912
Common stock, treasury shares (in shares)	1,072,769	1,072,769
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares outstanding (in shares)	10,127,602	10,092,352
Common stock, treasury shares (in shares)	3,218,307	3,218,307

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net sales	$ 492,412	$ 548,184
Cost of sales	381,715	408,927
Gross profit	110,697	139,257
Research and development costs	26,925	29,487
Selling, general and administrative expenses	76,062	82,600
Impairment of goodwill	8,891
Restructuring expenses	2,593	222
Gain on sale of property	(4,257)
Income from operations	483	26,948
Interest expense	(5,448)	(5,317)
Other (expense) income, net	(2,337)	1,985
(Loss) earnings before provision for income taxes	(7,302)	23,616
Provision for income taxes	1,441	2,907
Net (loss) earnings available to common shareholders	(8,743)	20,709
Common Class A [Member]
Net (loss) earnings available to common shareholders	$ (1,531)	$ 3,521
Net (loss) earnings per common share:
Net earnings per share, basic and diluted (in dollars per share)	$ (0.71)	$ 1.62
Weighted-average shares outstanding:
Common shares - basic and diluted (in shares)	2,167	2,175
Common Class B [Member]
Net (loss) earnings available to common shareholders	$ (7,212)	$ 17,188
Net (loss) earnings per common share:
Net earnings per share, basic and diluted (in dollars per share)	$ (0.71)	$ 1.73
Weighted-average shares outstanding:
Common shares - basic and diluted (in shares)	10,117	9,939

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net (loss) earnings	$ (8,743)	$ 20,709
Other comprehensive income (loss):
Currency translation adjustment, net of taxes of $9 and $51	2,603	(6,098)
Unrealized holding losses on marketable securities arising during the period, net of taxes of ($0) and ($85)		(133)
Change in unfunded SERP liability, net of taxes of ($422) and $954	(1,367)	1,018
Other comprehensive income (loss):	1,236	(5,213)
Comprehensive (loss) income	$ (7,507)	$ 15,496

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Comprehensive (Loss) Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Currency translation adjustment, tax	$ 9	$ 51
Unrealized loss on marketable securities arising during the period, tax	0	(85)
Change in unfunded SERP liability, tax	$ (422)	$ 954

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Class A [Member] Retained Earnings [Member]	Common Class A [Member]	Common Class B [Member] Retained Earnings [Member]	Common Class B [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Common Stock, Common Class A [Member]	Common Stock, Common Class B [Member]	Additional Paid-in Capital [Member]	Total
Balance at Dec. 31, 2017					$ 147,807	$ (19,625)	$ 217	$ 986	$ 28,575	$ 157,960
Net (loss) earnings		$ 3,521		$ 17,188	20,709					20,709
Cash dividends declared on common stock	$ (522)	(522)	$ (2,796)	(2,796)
Issuance of restricted common stock								26	(26)
Forfeiture of restricted common stock								(3)
Forfeiture of restricted common stock, APIC									3
Foreign currency translation adjustment, net of taxes						(6,098)				(6,098)
Unrealized holding losses on marketable securities arising during the period, net of taxes of ($0) and ($85)						(133)				(133)
Stock-based compensation expense									2,835	2,835
Change in unfunded SERP liability, net of taxes						1,018				1,018
Balance at Dec. 31, 2018					168,695	(24,838)	217	1,009	31,387	176,470
Effect of adoption of ASU					3,497					3,497
Net (loss) earnings		(1,531)		(7,212)	(8,743)					(8,743)
Cash dividends declared on common stock	$ (518)	$ (518)	$ (2,834)	$ (2,834)
Forfeiture of restricted common stock								(3)
Forfeiture of restricted common stock, APIC									3
Foreign currency translation adjustment, net of taxes						2,603				2,603
Unrealized holding losses on marketable securities arising during the period, net of taxes of ($0) and ($85)
Stock-based compensation expense									2,888	2,888
Change in unfunded SERP liability, net of taxes						(1,367)				(1,367)
Issuance of stock awards								7
Issuance of stock awards, APIC									(7)
Repurchase of Class A common stock							(3)		(445)	(448)
Balance at Dec. 31, 2019					157,063	(24,065)	214	1,013	33,826	168,051
Effect of adoption of ASU					$ 463	$ (463)

Consolidated Statements of Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Common Class A [Member]
Dividends declared (in dollars per share)	$ 0.06	$ 0.06
Common Class B [Member]
Dividends declared (in dollars per share)	$ 0.07	$ 0.07
Foreign currency translation adjustment, tax expense	$ 9	$ 51
Unrealized holding losses on marketable securities arising during the period, tax	0	(85)
Change in unfunded SERP liability, tax	$ (422)	$ 954

Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
Consolidated Statements of Cash Flows $ in Thousands	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Cash flows from operating activities:
Net (loss) earnings	$ (8,743)	$ 20,709
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Impairment of goodwill	8,891
Depreciation and amortization	16,471	18,207
Stock based compensation	2,888	2,835
Amortization of deferred financing costs	466	531
Deferred income taxes	(2,172)	2,490
Unrealized gain on foreign currency revaluation	(110)	(2,663)
(Gain) loss on disposal of property, plant and equipment	(4,194)	141
Other, net	1,522	795
Changes in operating assets and liabilities:
Accounts receivable	19,298	(13,004)
Unbilled receivables	(519)	(1,263)
Inventories	17,087	(24,735)
Other current assets	(2,292)	966
Other assets	(1,392)	922
Accounts payable	(15,105)	8,995
Accrued expenses	(5,875)	1,911
Other liabilities	8,178	(15,708)
Income taxes payable	(9,949)	8,968
Net cash provided by operating activities	24,450	10,097
Cash flows from investing activities:
Purchase of property, plant and equipment	(9,891)	(11,594)
Payment for acquisitions, net of cash acquired	(29,003)	(2,177)
Proceeds from surrender of company owned life insurance		433
Purchase of company owned life insurance		(433)
Proceeds from sale of marketable securities within rabbi trust		1,348
Purchase of marketable securities within rabbi trust		(1,348)
Proceeds from disposal/sale of property, plant and equipment	5,807	77
Net cash used in investing activities	(33,087)	(13,694)
Cash flows from financing activities:
Dividends paid to common shareholders	(3,352)	(3,295)
Borrowings under revolving credit line	44,000	7,500
Repayments under revolving credit line	(12,000)	(7,500)
Reduction in notes payable	(2,974)	(9,012)
Purchase and retirement of Class A common stock	(448)
Net cash provided by (used in) financing activities	25,226	(12,307)
Effect of exchange rate changes on cash and cash equivalents	1,789	461
Net increase (decrease) in cash and cash equivalents	18,378	(15,443)
Cash and cash equivalents - beginning of year	53,911	69,354
Cash and cash equivalents - end of year	72,289	53,911
Supplemental cash flow information:
Income taxes, net of refunds received	4,686	7,483
Interest payments	4,850	4,775
Goodwill	21,993	19,817
Cash paid for acquisitions, net of cash acquired	29,003	2,177
BCMZ Precision Engineering Limited [Member]
Cash flows from investing activities:
Payment for acquisitions, net of cash acquired	(29,003)	(2,177)
Supplemental cash flow information:
Fair value of identifiable net assets acquired	18,909	1,298
Goodwill	10,287	1,290
Fair value of net assets acquired	29,196	2,588
Fair value of consideration transferred	29,196	2,588
Less: Cash acquired in acquisitions	(193)	(411)
Cash paid for acquisitions, net of cash acquired	$ 29,003	$ 2,177

Note 1 - Description of Business and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Basis of Presentation and Significant Accounting Policies [Text Block]

1.	DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Bel Fuse Inc. and subsidiaries ("Bel," the "Company," "we," "us," and "our") design, manufacture and sell a broad array of products that power, protect and connect electronic circuits. These products are used in the networking, telecommunication, high-speed data transmission, commercial aerospace, military, broadcasting, transportation and consumer electronic industries around the world. We manage our operations by product group through our reportable operating segments, Cinch Connectivity Solutions, Power Solutions and Protection and Magnetic Solutions, in addition to a Corporate segment.

All amounts included in the tables to these notes to consolidated financial statements, except per share amounts, are in thousands.

Principles of Consolidation

- The consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

Reclassifications

- During the

fourth

quarter of

2019,

the Company changed its financial statement presentation of research and development costs. These costs were previously included within cost of sales and were a factor in arriving at gross profit. Research and development costs in the amount of

$26.9

million and

$29.5

million have been reclassified from cost of sales to a separate line item below gross profit in the accompanying statements of operations for the years ended

December 31, 2019

and

2018,

respectively. Also during the

fourth

quarter of

2019,

the Company changed its financial statement presentation related to gain/loss on foreign currency exchange. These gains/losses were previously included within selling, general and administrative expense. Gains on foreign currency exchange in the amount of

$0.1

million and

$2.7

million have been reclassified from selling, general and administrative expense and are now included within other (expense) income, net on the accompanying statements of operations for the years ended

December 31, 2019

and

2018,

respectively. These changes in presentation are consistent with that of our peers.

Use of Estimates

- The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including but

not

limited to those related to product returns, provisions for bad debt, inventories, goodwill, intangible assets, investments, Supplemental Executive Retirement Plan ("SERP") expense, income taxes, contingencies, litigation and the impact related to tax reform. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are

not

readily apparent from other sources. Actual results

may

differ from these estimates under different assumptions or conditions.

Cash Equivalents

- Cash equivalents include short-term investments in money market funds and certificates of deposit with an original maturity of

three

months or less when purchased. Accounts at each U.S. institution are insured by the Federal Deposit Insurance Corporation ("FDIC") up to

$250,000.

Some of our balances are in excess of the FDIC insured limit.

Allowance for Doubtful Accounts

- We maintain an allowance for doubtful accounts for estimated losses from the inability of our customers to make required payments. We determine our allowance by both specific identification of customer accounts where appropriate and the application of historical loss experience to non-specific accounts.

Effects of Foreign Currency

– In non-U.S. locations that are

not

considered highly inflationary, we translate the non-equity components of our foreign balance sheets at the end of period exchange rates with translation adjustments accumulated within stockholders' equity on our consolidated balance sheets. We translate the statements of operations at the average exchange rates during the applicable period. In connection with foreign currency denominated transactions, including multi-currency intercompany payable and receivable transactions and loans, the Company incurred net realized and unrealized currency exchange gains of

$0.1

million and

$2.7

million for the years ended

December 31, 2019

and

2018

, respectively, which were included in other (expense) income, net on the consolidated statements of operations.

Concentration of Credit Risk

- Financial instruments which potentially subject us to concentrations of credit risk consist principally of accounts receivable and temporary cash investments. We grant credit to customers that are primarily original equipment manufacturers and to subcontractors of original equipment manufacturers based on an evaluation of the customer's financial condition, without requiring collateral. Exposure to losses on receivables is principally dependent on each customer's financial condition. We control our exposure to credit risk through credit approvals, credit limits and monitoring procedures and establish allowances for anticipated losses. See Note

12,

"Segments," for disclosures regarding significant customers.

We place temporary cash investments with quality financial institutions and commercial issuers of short-term paper and, by policy, limit the amount of credit exposure in any

one

financial instrument.

Inventories

- Inventories are stated at the lower of weighted-average cost or market. Costs related to inventories include raw materials, direct labor and manufacturing overhead which are included in cost of sales on the consolidated statements of operations. The Company utilizes the average cost method in determining amounts to be removed from inventory.

Revenue Recognition

– On

January 1, 2018,

the Company adopted ASC

606

using the modified retrospective method applied to those contracts which were

not

completed as of

January 1, 2018.

The adoption of ASC

606

represents a change in accounting principle that more closely aligns revenue recognition with the transfer of control of the Company's goods and services and provides financial statement readers with enhanced disclosures related to the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers.

In accordance with ASC

606,

revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these goods and services.

Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales.

Product Warranties

– Warranties vary by product line and are competitive for the markets in which the Company operates. Warranties generally extend for

one

three

years from the date of sale, providing customers with assurance that the related product will function as intended. The Company reviews its warranty liability quarterly based on an analysis of actual expenses and failure rates accompanied with estimated future costs and projected failure rate trends. Factors taken into consideration when evaluating our warranty reserve are (i) historical claims for each product, (ii) volume increases, (iii) life of warranty, (iv) historical warranty repair costs and (v) other factors. To the extent that actual experience differs from our estimate, the provision for product warranties will be adjusted in future periods. Actual warranty repair costs are charged against the reserve balance as incurred. See Note

11,

"Accrued Expenses."

Product Returns

– We estimate product returns, including product exchanges under warranty, based on historical experience. In general, the Company is

not

contractually obligated to accept returns except for defective product or in instances where the product does

not

meet the Company's product specifications. However, the Company

may

permit its customers to return product for other reasons. In certain instances, the Company would generally require a significant cancellation penalty payment by the customer. The Company estimates such returns, where applicable, based upon management's evaluation of historical experience, market acceptance of products produced and known negotiations with customers. Such estimates are deducted from sales and provided for at the time revenue is recognized. Distribution customers often receive what is referred to as "ship and debit" arrangements, whereby Bel will invoice them at an agreed upon unit price upon shipment of product and a price reduction

may

be granted if the market price of the product declines after shipment. Distributors

may

also be entitled to special pricing discount credits, and certain customers are entitled to return allowances based on previous sales volumes. Bel deducts estimates for anticipated credits, refunds and returns from sales each quarter based on historical experience.

Goodwill and Identifiable Intangible Assets

– Goodwill represents the excess of the aggregate of the following (

) consideration transferred, (

) the fair value of any noncontrolling interest in the acquiree and, (

) if the business combination is achieved in stages, the acquisition-date fair value of our previously held equity interest in the acquiree over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed.

Identifiable intangible assets consist primarily of patents, licenses, trademarks, trade names, customer lists and relationships, non-compete agreements and technology-based intangibles and other contractual agreements. We amortize finite lived identifiable intangible assets over the shorter of their stated or statutory duration or their estimated useful lives, ranging from

years, on a straight-line basis to their estimated residual values and periodically review them for impairment. Total identifiable intangible assets comprise

15.4%

and

14.1%

2019

and

2018

, respectively, of our consolidated total assets.

We use the acquisition method of accounting for all business combinations and do

not

amortize goodwill or intangible assets with indefinite useful lives. Goodwill and intangible assets with indefinite useful lives are tested for possible impairment annually during the

fourth

quarter of each fiscal year or more frequently if events or changes in circumstances indicate that the asset might be impaired.

Impairment and Disposal of Long-Lived Assets

– For definite-lived intangible assets, such as customer relationships, contracts, intellectual property, and for other long-lived assets, such as property, plant and equipment, whenever impairment indicators are present, we perform a review for impairment. We calculate the undiscounted value of the projected cash flows associated with the asset, or asset group, and compare this estimated amount to the carrying amount. If the carrying amount is found to be greater, we record an impairment loss for the excess of book value over the fair value. In addition, in all cases of an impairment review, we re-evaluate the remaining useful lives of the assets and modify them, as appropriate.

For indefinite-lived intangible assets, such as trademarks and trade names, each year and whenever impairment indicators are present, we determine the fair value of the asset and record an impairment loss for the excess of book value over the fair value, if any. In addition, in all cases of an impairment review we re-evaluate whether continuing to characterize the asset as indefinite-lived is appropriate. See Note

"Goodwill and Other Intangible Assets," for additional details.

Depreciation

- Property, plant and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are calculated primarily using the straight-line method over the estimated useful life of the asset. The estimated useful lives primarily range f

rom

years for buildings and leasehold improvements, and from

ars for machinery and equipment.

Income Taxes

- We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. See Note

“Income Taxes”.

We record net deferred tax assets to the extent we believe these assets will more-likely-than-

not

be realized. In making such determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. We have established valuation allowances for deferred tax assets that are

not

likely to be realized. In the event we were to determine that we would be able to realize our deferred income tax assets in the future in excess of our net recorded amount, we would adjust the valuation allowance, which would reduce the provision for income taxes.

We establish liabilities for tax contingencies when, despite the belief that our tax return positions are fully supported, it is more likely than

not

that certain positions

may

be challenged and

may

not

be fully sustained. The tax contingency liabilities are analyzed on a quarterly basis and adjusted based upon changes in facts and circumstances, such as the conclusion of federal and state audits, expiration of the statute of limitations for the assessment of tax, case law and emerging legislation. Our effective tax rate includes the effect of tax contingency liabilities and changes to the liabilities as considered appropriate by management.

(Loss) Earnings per Share

– We utilize the

two

-class method to report our (loss) earnings per share. The

two

-class method is a (loss) earnings allocation formula that determines (loss) earnings per share for each class of common stock according to dividends declared and participation rights in undistributed (losses) earnings. The Company's Certificate of Incorporation, as amended, states that Class B common shares are entitled to dividends at least

greater than dividends paid to Class A common shares, resulting in the

two

-class method of computing (loss) earnings per share. In computing (loss) earnings per share, the Company has allocated dividends declared to Class A and Class B based on amounts actually declared for each class of stock and

more of the undistributed (losses) earnings have been allocated to Class B shares than to the Class A shares on a per share basis. Basic (loss) earnings per common share are computed by dividing net (loss) earnings by the weighted-average number of common shares outstanding during the period. Diluted (loss) earnings per common share, for each class of common stock, are computed by dividing net (loss) earnings by the weighted-average number of common shares and potential common shares outstanding during the period. There were

potential common shares outstanding during the years ended

December 31, 2019

and

2018

which would have had a dilutive effect on (loss) earnings per share.

The (loss) earnings and weighted average shares outstanding used in the computation of basic and diluted (loss) earnings per share are as follows:

	Year Ended December 31,
	2019			2018
Numerator:
Net (loss) earnings	$	(8,743	)	$	20,709
Less dividends declared:
Class A		518			522
Class B		2,834			2,796
Undistributed (loss) earnings	$	(12,095	)	$	17,391

Undistributed (loss) earnings allocation - basic and diluted:
Class A undistributed (loss) earnings	$	(2,049	)	$	2,999
Class B undistributed (loss) earnings		(10,046	)		14,392
Total undistributed (loss) earnings	$	(12,095	)	$	17,391

Net (loss) earnings allocation - basic and diluted:
Class A net (loss) earnings	$	(1,531	)	$	3,521
Class B net (loss) earnings		(7,212	)		17,188
Net (loss) earnings	$	(8,743	)	$	20,709

Denominator:
Weighted average shares outstanding:
Class A - basic and diluted		2,167			2,175
Class B - basic and diluted		10,117			9,939

Net (loss) earnings per share:
Class A - basic and diluted	$	(0.71	)	$	1.62
Class B - basic and diluted	$	(0.71	)	$	1.73

Research and Development ("R&D")

- Our engineering groups are strategically located around the world to facilitate communication with and access to customers' engineering personnel. This collaborative approach enables partnerships with customers for technical development efforts. On occasion, we execute non-disclosure agreements with our customers to help develop proprietary, next generation products destined for rapid deployment. R&D costs are expensed as incurred, and are shown as a separate line within operating expenses on the consolidated statements of operations. Generally, R&D is performed internally for the benefit of the Company. R&D costs include salaries, building maintenance and utilities, rents, materials, administration costs and miscellaneous other items. R&D expenses for the years ended

December 31, 2019

and

2018

amounted to

$26.9

million and

$29.5

million, respectively.

Fair Value Measurements

- We utilize the accounting guidance for fair value measurements and disclosures for all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis or on a nonrecurring basis during the reporting period. The fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based upon the best use of the asset or liability at the measurement date. The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability. We classify our fair value measurements based on the lowest level of input included in the established

three

-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers are defined as follows:

Level

- Observable inputs such as quoted market prices in active markets

Level

- Inputs other than quoted prices in active markets that are either directly or indirectly observable

Level

- Unobservable inputs about which little or

market data exists, therefore requiring an entity to develop its own assumptions

For financial instruments such as cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, the carrying amount approximates fair value because of the short maturities of such instruments. See Note

"Fair Value Measurements," for additional disclosures related to fair value measurements.

Recently Issued Accounting Standards

Recently Adopted Accounting Standards

February 2016,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)

2016

02,

Leases (Topic

842

) (“ASU

2016

02”

)

, to provide a new comprehensive model for lease accounting. Under this guidance, lessees and lessors should apply a “right-of-use” model in accounting for all leases (including subleases) and eliminate the concept of operating leases and off-balance sheet leases. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. Similar modifications have been made to lessor accounting in-line with revenue recognition guidance. This guidance was effective for annual periods and interim periods within those annual periods beginning after

December 15, 2018.

The amendments also require certain quantitative and qualitative disclosures about leasing arrangements.

The Company adopted ASU

2016

02,

as amended, effective

January 1, 2019

using the modified retrospective approach. In connection with the adoption, we elected to utilize the Comparatives Under

840

Option whereby the Company will continue to present prior period financial statements and disclosures under ASC

840.

In addition, we elected the transition package of

three

practical expedients permitted within the standard, which eliminates the requirements to reassess prior conclusions about lease identification, lease classification and initial direct costs. Further, we elected a short-term lease exception policy, permitting us to

not

apply the recognition requirements of this standard to short-term leases (i.e. leases with terms of

months or less) and an accounting policy to account for lease and non-lease components as a single component for certain classes of assets. We implemented a new lease system to facilitate the requirements of the new standard and completed the necessary changes to our accounting policies, processes, disclosures and internal control over financial reporting.

Adoption of the new standard resulted in the recording of right-of-use assets in the amount of

$20.7

million and lease liabilities related to our operating leases in the amount of

$21.0

million on our consolidated balance sheet as of

January 1, 2019.

The standard did

not

materially affect the Company’s consolidated net earnings or have any impact on cash flows. See Note

16,

Leases

, for Topic

842

disclosures in connection with the adoption of ASU

2016

02.

February 2018,

the FASB issued ASU

2018

02,

Income Statement – Reporting Comprehensive Income (Topic

220

): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

. This guidance allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act, which was enacted on

December 22, 2017.

This guidance is effective for all entities for fiscal years beginning after

December 15, 2018,

and interim periods within those fiscal years and should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the U.S. Tax Cuts and Jobs Act is recognized. This guidance was adopted by the Company effective

January 1, 2019.

In accordance with this guidance, the Company reclassified

$0.5

million of stranded tax effects from accumulated other comprehensive income to retained earnings within the equity section of the consolidated balance sheet as of

January 1, 2019.

The adoption of this guidance did

not

have a material impact on the Company’s consolidated financial statements.

May 2018,

the FASB issued ASU

2018

07,

Compensation – Stock Compensation (Topic

718

): Improvements to Nonemployee Share-Based Payment Accounting

, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. This guidance will better align the treatment of share-based payments to nonemployees with the requirements for such share-based payments granted to employees. This guidance is effective for all public entities for fiscal years beginning after

December 15, 2018,

including interim periods within that year. This guidance was adopted by the Company effective

January 1, 2019

and did

not

have a material impact on the Company’s consolidated financial statements.

January 2017,

the FASB issued ASU

2017

04,

Intangibles-Goodwill and Other (Topic

350

): Simplifying the Test for Goodwill Impairment

(“ASU

2017

04”

). ASU

2017

simplifies how an entity is required to test goodwill for impairment by eliminating Step

from the goodwill impairment test. Early adoption is permitted for interim and annual goodwill impairment tests performed on testing dates after

January 1, 2017.

The Company elected to early adopt ASU

2017

effective

July 1, 2019,

and accounted for the goodwill impairment charge discussed in

Note

under this guidance.

May 2014,

the FASB issued ASU

No.

2014

09,

Revenue from Contracts with Customers (Topic

606

)

("ASU

2014

09"

), which amends the existing accounting standards for revenue recognition. ASU

2014

is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. Subsequently, the FASB issued several other updates related to revenue recognition (collectively with ASU

2014

09,

the "new revenue standards" or "ASC

606"

). We adopted the guidance under the new revenue standards effective

January 1, 2018

using the modified retrospective approach by recognizing the cumulative effect of initially applying the new standard as an increase to the opening balance of retained earnings.

Upon adoption, the new revenue standards replaced most existing revenue recognition guidance in U.S. GAAP. Based on our review of representative samples of contracts and other forms of agreements with customers globally and our evaluation of the provisions under the

five

-step model specified by the new revenue standards, the Company has implemented changes with respect to timing of revenue recognition primarily related to arrangements for which the customer takes the Company's products from a facility holding consignment inventory.

In connection with the modified retrospective application of the new revenue standards, we recorded an adjustment to increase retained earnings by

$3.4

million upon the

January 1, 2018

adoption date. Apart from this adjustment and the inclusion of additional required disclosures in Note

the adoption of the new revenue standards did

not

have a material impact on the Company's consolidated financial statements.

January 2016,

the FASB issued ASU

2016

01,

Financial Instruments-Overall (Subtopic

825

): Recognition and Measurement of Financial Assets and Financial Liabilities

. This guidance primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. Under the new guidance, entities will be required to measure certain equity investments at fair value and recognize any changes in fair value in net earnings, unless the investments qualify for the new practicability exception. The new standard was effective for fiscal years, including interim periods within those fiscal years, beginning after

December 15, 2017.

We adopted this guidance on

January 1, 2018.

The adoption of this guidance did

not

have a material impact on the Company's consolidated financial statements.

August 2016,

the FASB issued ASU

2016

15,

Statement of Cash Flows (Topic

230

): Classification of Certain Cash Receipts and Cash Payments

. This guidance addresses diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This accounting guidance was effective for annual reporting periods beginning after

December 31, 2018

, including interim reporting periods within those annual reporting periods, and should be applied retrospectively to all periods presented. This guidance was adopted by the Company effective

January 1, 2018

and it did

not

have any impact on the Company's consolidated statement of cash flows in the periods presented.

October 2016,

the FASB issued ASU

2016

16,

Income Taxes (Topic

740

): Intra-Entity Transfers of Assets Other Than Inventory

. Prior U.S. GAAP prohibited the recognition of current and deferred income taxes for intra-entity asset transfer until the asset has been sold to an outside party. The new guidance eliminates the exception and requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This accounting guidance was effective for annual reporting periods beginning after

December 15, 2017,

including interim reporting periods within those annual reporting periods, and should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. This guidance was adopted by the Company effective

January 1, 2018

and it did

not

have a material impact on the Company's consolidated financial position or consolidated results of operations.

January 2017,

the FASB issued ASU

2017

01,

Business Combinations (Topic

805

): Clarifying the Definition of a Business

("ASU

2017

01"

), to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill and consolidation. ASU

2017

provides a framework that gives entities a basis for making reasonable judgments about whether a transaction involves an asset or a business. The Company adopted ASU

2017

January 1, 2018.

March 2017,

the FASB issued ASU

2017

07,

Compensation – Retirement Benefits (Topic

715

): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

("ASU

2017

07"

). This guidance requires that an employer disaggregate the service cost component from the other components of net benefit cost. ASU

2017

requires employers to present the service cost component of the net periodic benefit cost in the same income statement line as other employee compensation costs arising from services rendered during the period. The other components of net benefit cost, including interest cost, expected return on plan assets, amortization of prior service costs and actuarial gains/losses, and settlement and curtailment effects, are to be presented outside of any subtotal of operating income. The guidance also specifies that the amount of costs that can be capitalized will be limited to service cost only. The Company adopted the guidance of ASU

2017

January 1, 2018

and elected to apply the practical expedient and use the amounts disclosed in Note

to the financial statements included in the Company's Annual Report on Form

-K for the year ended

December 31, 2018

as the basis for applying the retrospective application required by the standard. The amounts reclassified within the statement of operations for the year ended

December 31, 2018

were

not

material.

May 2017,

the FASB issued ASU

2017

09,

Compensation – Stock Compensation (Topic

718

): Scope of Modification Accounting ("ASU

2017

09"

)

. This update provides guidance about which changes to the terms or conditions of a share-based payment require an entity to apply modification accounting in Topic

718.

This guidance is effective for annual periods, and interim periods within those annual periods, beginning after

December 15, 2017.

The Company adopted ASU

2017

January 1, 2018,

and the guidance within this update will be applied to any future award modifications.

Accounting Standards Issued But

Not

Yet Adopted

June 2016,

the FASB issued ASU

No.

2016

13,

Financial Instruments – Credit Losses (Topic

326

): Measurement of Credit Losses on Financial Instruments (“ASU

2016

13”

as amended. The new guidance will broaden the information that an entity must consider in developing its expected credit loss estimates related to its financial instruments and adds to U.S. GAAP an impairment model that is based on expected losses rather than incurred losses. The amendment is currently effective for the Company for annual reporting periods beginning after

December 15, 2022,

with early adoption permitted. Management is currently assessing the impact of ASU

2016

13,

but it is

not

expected to have a material impact on the Company’s consolidated financial statements.

August 2018,

the FASB issued ASU

2018

13,

Fair Value Measurement (Topic

820

): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

. The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2019.

Early adoption is permitted for any removed or modified disclosures. The Company is currently assessing the impact of adopting the updated provisions, but it is

not

expected to have a material impact on the Company's consolidated financial statements.

August 2018,

the FASB issued ASU

2018

14,

Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic

715

): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans ("ASU

2018

14"

)

. This guidance removes certain disclosures that are

not

considered cost beneficial, clarifies certain required disclosures and added additional disclosures. The standard is effective for fiscal years ending after

December 15, 2020.

The amendments in ASU

2018

would need to be applied on a retrospective basis. The Company is currently assessing the impact the new guidance will have on our disclosures.

August 2018,

the FASB issued ASU

2018

15,

Intangibles – Goodwill and Other-Internal-Use Software (Subtopic

350

): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Cost

. This guidance aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This guidance is effective for interim and annual reporting periods beginning after

December 15, 2019,

and early adoption is permitted. The Company is currently evaluating the impacts that adoption of this ASU will have on its consolidated financial statements.

December 2019,

the FASB issued ASU

2019

12,

Simplifying the Accounting for Income Taxes ("ASU

2019

12"

)

, which modifies ASC

740

to reduce complexity while maintaining or improving the usefulness of the information provided to users of financial statements. ASU

2019

is effective for the Company for interim and annual reporting periods beginning after

December 15, 2021.

The Company is currently assessing the impact of ASU

2019

12,

but it is

not

expected to have a material impact on the Company’s consolidated financial statements.

Note 2 - Acquisitions

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Business Combination Disclosure [Text Block]

2.	ACQUISITIONS

December 3, 2019,

the Company completed the acquisition of the majority of the power supply products business of CUI Inc. (the "CUI power business") through an asset purchase agreement with CUI Global Inc. for

$29.2

million (after a working capital adjustment), plus the assumption of certain liabilities. The CUI power business designs and markets a broad portfolio of AC/DC and DC/DC power supplies and board level components. The CUI power business is headquartered in Tualatin, Oregon and had sales of

$32.0

million for the year ended

December 31, 2019.

The acquisition of the CUI power business enhances Bel's existing offering of power products, allowing us to better address all of our customer power needs. It also introduces an alternative business model to Bel's,

one

which carries a higher gross margin profile and lower manufacturing risk.

October 1, 2018,

the Company completed the acquisition of BCMZ Precision Engineering Limited ("BCMZ"), a U.K. manufacturer of precision machined components, for approximately

$2.6

million in cash. The transaction was funded with cash on hand. BCMZ has a diversified portfolio of customers in the automotive, aerospace, defense, telecommunication, fiber-optic and medical industrial sectors and has been a long-term key supplier of precision machined components for our Cinch Connectivity Solutions U.K. business. BCMZ is additionally expected to give Cinch the capability to continue to support key defense and industrial customers across Europe with localized in-house machining ability.

The results of operations of the CUI Power business and BCMZ have been included in the Company's consolidated financial statements for the period subsequent to their respective acquisition dates. During the year ended

December 31, 2019,

the CUI power business contributed revenue of

$2.2

million and an operating loss of $

0.4

million. During the years ended

December 31, 2019

and

December 31, 2018,

BCMZ contributed revenue of

$1.0

million and

$0.5

million, respectively, and operating income (loss) of less than

$0.1

million and less than (

$0.1

) million, respectively, to the Company's consolidated financial results. During the years ended

December 31, 2019

and

December 31, 2018,

the Company incurred

$0.2

million and less than

$0.1

million, respectively, in acquisition-related costs relating the previously-mentioned acquisitions. These costs are included in selling, general and administrative expense in the accompanying consolidated statement of operations.

Due to the proximity of the acquisition date to the filing date of this Annual Report on Form

-K, the initial accounting related to the acquisition of the CUI power business is still under review as of the filing date of this Annual Report on Form

-K. The following table depicts the Company’s estimated acquisition date fair values of the combined consideration transferred and identifiable net assets acquired in this transaction:

				Measurement			Acquisition-Date
	Acquisition-Date			Period			Fair Values
	Fair Values			Adjustments			(As adjusted)
Cash and cash equivalents	$	193		$	-		$	193
Accounts receivable		3,404			-			3,404
Inventories		4,686			-			4,686
Other current assets		101			-			101
Property, plant and equipment		81			-			81
Right-of-use asset		1,299			-			1,299
Intangible assets		-			16,000			16,000
Total identifiable assets		9,764			16,000			25,764

Accounts payable		(3,599	)		-			(3,599	)
Accrued expenses		(879	)		-			(879	)
Refund liability		(1,078	)		-			(1,078	)
Operating lease liability, current		(230	)		-			(230	)
Operating lease liability, long-term		(1,069	)		-			(1,069	)
Total liabilities assumed		(6,855	)		-			(6,855	)
Net identifiable assets acquired		2,909			16,000			18,909
Goodwill		29,091			(18,804	)		10,287
Net assets acquired	$	32,000		$	(2,804	)	$	29,196


Cash paid		32,000			(2,804	)		29,196
Fair value of consideration transferred	$	32,000		$	(2,804	)	$	29,196

The identifiable assets acquired included

$11.0

million assigned to customer relationships, which will be amortized over its estimated future life of

years utilizing the straight-line method, and

$5.0

million assigned to the CUI tradename, which is concluded to have an indefinite life.

The final determination of the assets acquired and liabilities assumed will be based on the established fair value of the assets acquired and the liabilities assumed as of the acquisition date. The excess of the purchase price over the fair value of net assets acquired is allocated to goodwill. The goodwill noted above related to the CUI acquisition was allocated to the Company's Power Solutions and Protection operating segment at the time of acquisition. The Company has determined that all of the goodwill and intangible assets associated with the CUI acquisition will be deductible for tax purposes.

The following unaudited pro forma information presents a summary of the combined results of operations of the Company and the results of CUI for the periods presented as if the acquisition had occurred on

January 1, 2018,

along with certain pro forma adjustments. These pro forma adjustments give effect to the amortization of certain definite-lived intangible assets, interest expense related to the financing of the business combination, and related tax effects. The pro forma results do

not

reflect the realization of any potential cost savings, or any related integration costs. Certain cost savings

may

result from the acquisition; however, there can be

assurance that these cost savings will be achieved. The unaudited pro forma results are presented for illustrative purposes only and are

not

necessarily indicative of the results that would have actually been obtained if the acquisition had occurred on the assumed date, nor is the pro forma data intended to be a projection of results that

may

be obtained in the future:

	Year Ended
	December 31,
	2019			2018
Revenue	$	522,128		$	588,425
Net earnings		(7,715	)		25,232
Earnings per Class A common share - basic and diluted		(0.63	)		1.98
Earnings per Class B common share - basic and diluted		(0.63	)		2.11

Note 3 - Revenue

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

REVENUE

Nature of Goods and Services

Our revenues are substantially derived from sales of our products.

In our Cinch Connectivity Solutions product group, we provide connectors and cable assemblies to the aerospace, military/defense, commercial, rugged harsh environment and communication markets. This group also includes passive jacks, plugs and cable assemblies that provide connectivity in networking equipment, as well as modular plugs and cable assemblies used within the structured cabling system, known as premise wiring.

In our Power Solutions and Protection group, we provide AC-DC and DC-DC power conversion devices and circuit protection products. Applications range from board-mount power to system-level architectures for servers, storage, networking, industrial and transportation.

In our Magnetic Solutions group, we provide an extensive line of integrated connector modules (ICM), where an Ethernet magnetic solution is integrated into a connector package. Products within the Company's magnetic solutions group are primarily used in networking and industrial applications.

The Company also provides incremental services to our customers in the form of training, technical support, special tooling, and other support as deemed necessary from time to time. For purposes of ASC

606,

all such incremental services were concluded to be immaterial in the context of the contracts.

Types of Contracts

Substantially all of the Company's revenue is derived from contracts with its customers under

one

of the following types of contracts:

•

Direct with customer:

This includes contracts with original equipment manufacturers (OEMs), original design manufacturers (ODMs), and contract manufacturers (CMs). The nature of Bel's products are such that they represent components which are installed in various end applications (

e.g.,

servers, aircraft, missiles and rail applications). The OEMs, ODMs or CMs that purchase our product for further installation are our end customers. Contracts with these customers are broad-based and cover general terms and conditions. Details such as order volume and pricing are typically contained in individual purchase orders, and as a result, we view each product on each purchase order as an individual performance obligation. Incremental services included in the contracts, such as training, tooling and other customer support are determined to be immaterial in the context of the contract, both individually and in the aggregate. Revenue under these contracts is generally recognized at a point in time, generally upon shipping or delivery, which closely mirrors the shipping terms dictated by the applicable contract.

•

Distributor:

Distribution customers buy product directly from Bel and sell it in the marketplace to end customers. Bel contracts directly with the distributor. These contracts are typically global in nature and cover a variety of our product groups. Similar to contracts with OEMs, ODMs and CMs, each product on each purchase order is considered an individual performance obligation. Revenue is recognized at a point in time, generally upon shipping or delivery, which closely mirrors the shipping terms dictated by the applicable contract.

•

Consignment:

These customers operate under a type of concession agreement whereby the Company ships goods to a warehouse or hub, where they will be pulled by the customer at a later date. The terms specified in the consignment contracts specify that the Company will

not

invoice the customer for product until it is pulled from the warehouse or hub. Once product arrives at the hub, it is generally

not

returned to Bel unless there is a warranty issue (see "Warranties" section below). Similar to the contracts described above, each product on each purchase order is considered an individual performance obligation. Under ASC

606,

it was determined that the majority of these hubs are customer-controlled, and therefore control transfers to the customer upon either delivery from Bel's warehouse, or arrival at the customer-controlled hub, depending upon the applicable shipping terms. Effective

January 1, 2018,

revenue is recognized as control of the product is transferred to the customer (for customer-controlled hubs, this is at the time product is shipped to the hub). This gave rise to an unbilled receivable balance, as we do

not

have the right to invoice the customer until product is pulled from the hub.

•

Licensing Agreements:

License agreements are only applicable to our Power Solutions and Protection product group, and include provisions for Bel to receive sales-based royalty income related to the licensing of Bel's patents or other intellectual property (IP) utilized by a

third

-party entity. Income related to these agreements is tracked by the licensee throughout the year based on their sales of product that utilize Bel's IP, and that data is reported to Bel either on a quarterly or annual basis, with payment generally received within

days of the reporting date. Our performance obligation is satisfied upon delivery of the IP at the beginning of the license period, as the licenses are functional in nature. However, the recognition of revenue associated with these licenses is subject to the sales- or usage-based constraint on variable consideration. As such, the Company records a constrained estimate of this variable consideration as royalty income in the period of the underlying customers' product sales, with adjustments made as actual licensee sales data becomes available.

Significant Payment Terms

Contracts with customers indicate the general terms and conditions in which business will be conducted for a set period of time. Individual purchase orders state the description, quantity and price of each product purchased. Payment for products sold under direct contracts with customers or contracts with distributors is typically due in full within

days from the transfer of title to customer. Payment for products sold under consignment contracts is typically due within

days of the customer pulling the product from the hub. Payment due related to our licensing agreements is generally within

days of receiving the licensee sales data, which is either on a quarterly or annual basis.

Since the customer agrees to a stated price for each product on each purchase order, the majority of contracts are

not

subject to variable consideration. However, the "ship and debit" arrangements with distributors, royalty income associated with our licensing agreements, and the product returns described above are each deemed to be variable consideration which requires the Company to make constrained estimates based on historical data.

Disaggregation of Revenue

The following table provides information about disaggregated revenue by product group and sales channel, and includes a reconciliation of the disaggregated revenue to our reportable segments:

	Year Ended December 31, 2019
	Cinch Connectivity		Power Solutions		Magnetic
	Solutions		and Protection		Solutions		Consolidated

By Product Group:
North America	$	128,096	$	93,540	$	34,408	$	256,044
Europe		33,099		41,016		7,507		81,622
Asia		11,153		28,972		114,621		154,746
	$	172,348	$	163,528	$	156,536	$	492,412

By Sales Channel:
Direct to customer	$	113,115	$	110,587	$	132,911	$	356,613
Through distribution		59,233		52,941		23,625		135,799
	$	172,348	$	163,528	$	156,536	$	492,412

	Year Ended December 31, 2018
	Cinch Connectivity		Power Solutions		Magnetic
	Solutions		and Protection		Solutions		Consolidated

By Product Group:
North America	$	135,454	$	98,432	$	37,805	$	271,691
Europe		34,130		45,556		9,604		89,290
Asia		17,140		32,065		137,998		187,203
	$	186,724	$	176,053	$	185,407	$	548,184

By Sales Channel:
Direct to customer	$	120,333	$	120,787	$	157,539	$	398,659
Through distribution		66,391		55,266		27,868		149,525
	$	186,724	$	176,053	$	185,407	$	548,184

Contract Assets and Contract Liabilities

A contract asset results when goods or services have been transferred to the customer but payment is contingent upon a future event, other than passage of time. In the case of our consignment arrangements, we are unable to invoice the customer until product is pulled from the hub by the customer, which generates an unbilled receivable (a contract asset) when revenue is initially recognized.

A contract liability results when cash payments are received or due in advance of our performance obligation being met. We have certain customers who provide payment in advance of product being shipped, which results in deferred revenue (a contract liability).

The balances of the Company's contract assets and contract liabilities at

December 31, 2019

and

January 1, 2019

are as follows:

	December 31,		January 1,
	2019		2019

Contract assets - current (unbilled receivable)	$	16,318	$	15,799
Contract liabilities - current (deferred revenue)	$	653	$	1,036

The change in balance of our unbilled receivables from

January 1, 2019

December 31, 2019

primarily relates to a timing difference between the Company's performance (i.e. when our product is shipped to a customer-controlled hub) and the point at which the Company can invoice the customer per the terms of the customer contract (i.e. when the customer pulls our product from the customer-controlled hub).

A tabular presentation of the activity within the deferred revenue account for the year ended

December 31, 2019

is presented below:

	Year Ended
	December 31, 2019
Balance, January 1	$	1,036
New advance payments received		3,204
Recognized as revenue during period		(3,598	)
Currency translation		11
Balance, December 31	$	653

Transaction Price Allocated to Future Obligations

The aggregate amount of transaction price allocated to remaining performance obligations that have

not

been satisfied as of

December 31, 2019

related to contracts that exceed

one

year in duration amounted to

$16.9

million, with expected contract expiration dates that range from

2021

2025.

It is expected that

76%

of this aggregate amount will be recognized in

2021,

20%

will be recognized in

2022

and the remainder will be recognized in years beyond

2022.

The majority of the Company's total backlog of orders at

December 31, 2019

is related to contracts that have an original expected duration of

one

year or less, for which the Company is electing to utilize the practical expedient available within the guidance, and are excluded from the transaction price related to these future obligations. The Company will generally satisfy the remaining performance obligations as we transfer control of the products ordered to our customers. The transaction price related to these future obligations also excludes variable consideration consisting of sales or usage-based royalties earned on licensing agreements. The variability related to these sales or usage-based royalties will be resolved in the periods when the licensee generates sales related to the licensed intellectual property.

Other Practical Expedients:

In the application of the recognition and measurement principles of ASC

606,

the Company elected to utilize the following additional practical expedients which are provided for within the guidance:

	•	Financing Components : Bel has elected the practical expedient which enables management to disregard the effects of a financing component if the time difference between delivery of goods or services and payment for the goods or services is within one year.

	•	Costs to Obtain a Contract : As part of negotiations, Bel may incur incremental costs to obtain a contract. Incremental costs are only those costs that would not have been incurred if the contract had not been obtained (e.g. sales commissions). Bel has elected the practical expedient that allows incremental costs to obtain a contract to be expensed as incurred when the expected amortization period is one year or less.

Note 4 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Goodwill Disclosure [Text Block]

4.	GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Goodwill represents the excess of the purchase price and related acquisition costs over the fair value assigned to the net tangible and other intangible assets acquired in a business acquisition.

Throughout

2018

and until

September 30, 2019,

the Company operated under

three

reportable operating segments which were geographic in nature: North America, Asia and Europe. In connection with the transition in ERP systems, and resulting discussions around how management would like to view the results of the Company on a go-forward basis, management determined that viewing the Company by product group for purposes of managing the business and asset allocation decisions was most appropriate. This change in management's view resulted in a reorganization of the Company's reportable operating segments effective

October 1, 2019.

The new reportable operating segments are:

	•	Cinch Connectivity Solutions : includes the 2010 acquisition of Cinch Connectors, the 2012 acquisitions of Fibreco Limited and GigaCom Interconnect, the 2013 acquisition of Array Connector, the 2014 acquisition of Emerson Network Power Connectivity Solutions, in addition to sales and an estimated allocation of expenses related to connectivity products manufactured at Bel sites that are not product group specific.

	•	Power Solutions and Protection : includes the 2012 acquisition of Powerbox Italia, the 2014 acquisition of Power-One's Power Solutions business, the 2019 acquisition of the majority of CUI Inc.'s power products business, in addition to sales and an estimated allocation of expenses related to power products manufactured at Bel sites that are not product group specific.

	•	Magnetic Solutions: includes the 2013 acquisition of TE Connectivity's Coil Wound Magnetics business, our Signal Transformer business, in addition to sales and an estimated allocation of expenses related to Bel's ICM and discrete magnetic products that are manufactured at Bel sites that are not product group specific.

As of the

October 1, 2019

segment reorganization date, the remaining goodwill under the former segment structure was reassigned to the new reporting units identified within the

three

product group reportable operating segments using a relative fair value allocation approach.

The changes in the carrying value of goodwill classified by our segment reporting structure for the years ended

December 31, 2019

and

2018

are as noted in the table below.

	Segment Structure Prior to October 1, 2019
	Total			North America			Asia			Europe

Balance at January 1, 2018:
Goodwill, gross	$	148,768		$	63,364		$	54,508		$	30,896
Accumulated impairment charges		(128,591	)		(54,474	)		(54,508	)		(19,609	)
Goodwill, net		20,177			8,890			-			11,287

Goodwill allocation related to acquisition		1,290			-			-			1,290
Foreign currency translation		(1,650	)		-			-			(1,650	)

Balance at December 31, 2018:
Goodwill, gross		148,408			63,364			54,508			30,536
Accumulated impairment charges		(128,591	)		(54,473	)		(54,508	)		(19,610	)
Goodwill, net		19,817			8,891			-			10,926

Impairment charge		(8,891	)		(8,891	)		-			-
Foreign currency translation		(122	)		-			-			(122	)
Measurement period adjustment		(26	)		-			-			(26	)

Balance at September 30, 2019:
Goodwill, gross		148,260			63,364			54,508			30,388
Accumulated impairment charges		(137,482	)		(63,364	)		(54,508	)		(19,610	)
Goodwill, net	$	10,778		$	-		$	-		$	10,778

	Segment Structure Effective October 1, 2019
	Total		Cinch Connectivity Solutions		Power Solutions & Protection		Magnetic Solutions
Balance at October 1, 2019:
Goodwill, gross (reallocation)	$	10,778	$	6,467	$	4,311	$	-
Goodwill, net		10,778		6,467		4,311		-

Goodwill allocation related to acquisition		10,287		-		10,287		-
Foreign currency translation		928		712		216		-

Balance at December 31, 2019:
Goodwill, gross		21,993		7,179		14,814		-
Goodwill, net	$	21,993	$	7,179	$	14,814	$	-

The Company has

not

reallocated the historical accumulated impairment charges to its new segment structure due to impracticability.

As discussed in Note

Fair Value Measurements, goodwill is reviewed for impairment on a reporting unit basis annually during the

fourth

quarter of each year and whenever events or changes in circumstances indicate the carrying value of goodwill

may

not

be recoverable. We estimated the fair value of these reporting units using a weighting of fair values derived from income and market approaches. Under the income approach, we determine the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management's estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on a weighted average cost of capital adjusted for the relevant risk associated with the characteristics of the business and the projected cash flows. The market approach estimates fair value based on market multiples of revenue and earnings derived from comparable publicly traded companies with similar operating and investment characteristics as the reporting unit.

2019

Interim Impairment Test

As weakened market conditions from earlier in

2019

continued into the

third

quarter without a visible rebound in incoming orders, the Company’s actual revenue and margin levels in

2019

were significantly lower than the financial projections utilized in the annual goodwill impairment analysis (performed as of

October 1, 2018),

and were

not

projected to rebound to those levels in

2019.

The Company determined that current business conditions, and the resulting decrease in the Company’s projected undiscounted and discounted cash flows, together with the accompanying stock price decline, constituted a triggering event, which required the Company to perform interim impairment tests related to its long-lived assets and goodwill during the

third

quarter of

2019.

This resulted in a full impairment of the Company's North America operating segment, and the Company recorded a resulting goodwill impairment charge of

$8.9

million in the

third

quarter of

2019.

impairment existed as of the

July 31, 2019

interim test date related to the Company's Europe operating segment. As of the interim test date, the estimated fair value of the Company's Europe operating segment exceeded its carrying value by

17.3%.

2019

Annual Impairment Test

October 1, 2019,

the Company completed step

one

of our annual goodwill impairment test for our reporting units. We concluded that the fair value of the Company's Europe reporting unit (the only remaining reporting unit with goodwill) exceeded the carrying value and that there was

indication of impairment. As described above, the Company reorganized its segment structure effective

October 1, 2019.

In connection with the segment reorganization, the Company also completed step

one

of our annual goodwill impairment test for our new reporting units. We concluded that the fair value each of the Company's reporting units exceeded the respective carrying values and that there was

indication of impairment on that date.

The excess of estimated fair values over carrying value, including goodwill for each of our reporting units that had goodwill as of the

2019

annual impairment test were as follows:

Reporting Unit	% by Which Estimated Fair Value Exceeds Carrying Value
Connectivity Europe	138.8		%
Power Europe		16.4	%

As noted above, the fair value determined in connection with the goodwill impairment test completed in the

fourth

quarter of

2019

exceeded the carrying value for each reporting unit. Therefore, there was

impairment of goodwill. However, if the fair value decreases in future periods, the Company

may

need to complete an interim goodwill impairment test and any potential goodwill impairment charge would be dependent upon the estimated fair value of the reporting unit at that time and the outcome of the impairment test. The fair values of the assets and liabilities of the reporting unit, including the intangible assets, could vary depending on various factors.

The future occurrence of a potential indicator of impairment, such as a decrease in expected net earnings, adverse equity market conditions, a decline in current market multiples, a decline in our common stock price, a significant adverse change in legal factors or business climates, an adverse action or assessment by a regulator, unanticipated competition, strategic decisions made in response to economic or competitive conditions, or a more-likely-than-

not

expectation that a reporting unit or a significant portion of a reporting unit will be sold or disposed of, could require an interim assessment for some or all of the reporting units before the next required annual assessment. In the event of significant adverse changes of the nature described above, it

may

be necessary for us to recognize an additional non-cash impairment of goodwill, which could have a material adverse effect on our consolidated financial condition and consolidated results of operations.

2018

Annual Impairment Test

Based on annual impairment tests performed in the prior year, there was

indication of goodwill impairment at the

October 1, 2018

testing date.

Other Intangible Assets

Other identifiable intangible assets include patents, technology, license agreements, non-compete agreements and trademarks. Amounts assigned to these intangible assets have been determined by management. Management considered a number of factors in determining the allocations, including valuations and independent appraisals. Trademarks have indefinite lives and are reviewed for impairment on an annual basis. Other intangible assets, excluding trademarks, are being amortized over

years.

The Company tests indefinite-lived intangible assets for impairment using a fair value approach, the relief-from-royalty method (a form of the income approach). At

December 31, 2019

, the Company's indefinite-lived intangible assets related to the trademarks acquired in the CUI, Power Solutions, Connectivity Solutions, Cinch and Fibreco acquisitions.

The components of definite and indefinite-lived intangible assets are as follows:

	December 31, 2019						December 31, 2018
	Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount

Patents, licenses and technology	$	38,885	$	21,757	$	17,128	$	38,845	$	18,281	$	20,564
Customer relationships		55,656		17,231		38,425		44,588		14,193		30,395
Non-compete agreements		2,701		2,701		-		2,683		2,683		-
Trademarks		16,852		40		16,812		11,770		40		11,730

	$	114,094	$	41,729	$	72,365	$	97,886	$	35,197	$	62,689

Amortization expense was

$6.4

million and

$6.4

million in

2019

and

2018

, respectively.

Estimated amortization expense for intangible assets for the next

five

years is as follows:

Year Ended December 31,	Amortization Expense

2020	$	7,112
2021		7,108
2022		5,735
2023		4,473
2024		4,412

2019

Impairment Tests

Due to weakened market conditions discussed above, the Company completed an interim impairment test related to its indefinite-lived intangible assets as of

July 31, 2019,

noting

impairment. The Company also completed its annual indefinite-lived intangible assets impairment test during the

fourth

quarter of

2019

, noting

impairment. Management has concluded that the fair value of these trademarks exceeded the related carrying values at

December 31, 2019

and that there was

indication of impairment.

Note 5 - Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Fair Value Disclosures [Text Block]

5.	FAIR VALUE MEASUREMENTS

As of

December 31, 2019

and

December 31, 2018,

our available-for-sale securities primarily consisted of investments held in a rabbi trust which are intended to fund the Company’s Supplemental Executive Retirement Plan (“SERP”) obligations. These securities are measured at fair value using quoted prices in active markets for identical assets (Level

) inputs and amounted to

$1.1

million at

December 31, 2019

and

$1.4

million at

December 31, 2018.

The Company does

not

have any financial assets measured at fair value on a recurring basis categorized as Level

and there were

transfers in or out of Level

Level

or Level

during

2019

2018.

There were

changes to the Company’s valuation techniques used to measure asset fair values on a recurring or nonrecurring basis during

2019.

There were

financial assets accounted for at fair value on a nonrecurring basis as of

December 31, 2019

December 31, 2018.

The Company has other financial instruments, such as cash and cash equivalents, accounts receivable, restricted cash, accounts payable and accrued expenses, which are

not

measured at fair value on a recurring basis but are recorded at amounts that approximate fair value due to their liquid or short-term nature. The fair value of the Company’s long-term debt is estimated using a discounted cash flow method based on interest rates that are currently available for debt issuances with similar terms and maturities. At

December 31, 2019

and

2018,

the estimated fair value of total debt was

$146.4

million and

$117.9

million, respectively, compared to a carrying amount of

$143.7

million and

$114.2

million, respectively. The Company did

not

have any other financial liabilities within the scope of the fair value disclosure requirements as of

December 31, 2019.

Nonfinancial assets and liabilities, such as goodwill, indefinite-lived intangible assets and long-lived assets, are accounted for at fair value on a nonrecurring basis. These items are tested for impairment upon the occurrence of a triggering event. We review goodwill for impairment on a reporting unit basis annually during the

fourth

quarter of each year and whenever events or changes in circumstances indicate the carrying value of goodwill

may

not

be recoverable. As weakened market conditions from earlier in

2019

continued into the

third

quarter without a visible rebound in incoming orders, the Company’s actual revenue and margin levels in

2019

were significantly lower than the financial projections utilized in the annual goodwill impairment analysis (performed as of

October 1, 2018),

and were

not

projected to rebound to those levels in

2019.

third

quarter of

2019.

The Company’s interim test on its long-lived assets indicated that the carrying value of its long-lived assets was recoverable and that

impairment existed as of the

July 31, 2019

testing date.

The Company’s Level

fair value analysis related to the interim test for goodwill impairment was supported by a weighting of

two

generally accepted valuation approaches, the income approach and the market approach, as further described in Note

"Goodwill and Other Intangible Assets". These approaches include numerous assumptions with respect to future circumstances, such as industry and/or local market conditions, which might directly impact each of the reporting units’ operations in the future, and are therefore uncertain. These approaches are utilized to develop a range of fair values and a weighted average of these approaches is utilized to determine the best fair value estimate within that range.

The

July 31, 2019

interim impairment test related to the Company's goodwill was performed by reporting unit (North America and Europe). The valuation test, which heavily weights future discounted cash flow projections, indicated impairment of the goodwill associated with the Company’s North America reporting unit. As a result, the Company recorded a non-cash goodwill impairment charge of

$8.9

million (

$8.5

million after-tax) during the

third

quarter of

2019.

The Company’s goodwill associated with its North America reporting unit originated from several of Bel’s prior acquisitions, primarily Power Solutions and Connectivity Solutions. The carrying value of the Company's goodwill was

$19.8

million at

December 31, 2018.

The remaining goodwill as of

September 30, 2019

had a carrying value of

$10.8

million related solely to the Company's Europe rep

orting unit. Effective

October 1, 2019,

in connection with a change in how management views the business as a result of our ongoing transition in ERP systems and the recent acquisition of CUI, the Company reorganized its segment reporting structure. The Company's new reportable operating segments are Cinch Connectivity Solutions, Power Solutions and Protection, and Magnetic Solutions. At our

October 1, 2019

annual goodwill impairment test date, an analysis was performed on both the former segments and the new segments to ensure

impairment existed under either structure as of the reorganization date. See

Not

"Goodwill and Other Intangible Assets".

In connection with the fair value estimate calculation for the interim test performed as of

July 31, 2019,

detailed below is a table of key underlying assumptions utilized in the interim test as compared to those assumptions utilized during the annual valuation performed as of

October 1, 2018.

The table below shows the assumptions utilized for the North America reporting unit.

	Goodwill Impairment Analysis
	Key Assumptions
	2019 - Interim			2018 - Annual

Income Approach - Discounted Cash Flows:
Revenue 5-year compound annual growth rate (CAGR)		1.5	%		2.6	%
EBITDA margins (next 12 month forecast)		3.9	%		7.6	%
Cost of equity capital		15.4	%		14.2	%
Cost of debt capital		4.0	%		3.7	%
Weighted average cost of capital		14.0	%		13.0	%

Market Approach - Multiples of Guideline Companies:
Net operating revenue multiples used		0.3			0.4
Operating EBITDA multiples used		7.0 - 8.0			5.1 - 5.7
Invested capital control premium		25	%		25	%

Weighting of Valuation Methods:
Income Approach - Discounted Cash Flows		75	%		75	%
Market Approach - Multiples of Guideline Companies		25	%		25	%

The Company had also performed an interim impairment analysis of its indefinite-lived intangible assets as of

July 31, 2019.

The Company tests indefinite-lived intangible assets for impairment using a fair value approach, the relief-from-royalty method (a form of the income approach). At

December 31, 2018,

the Company’s indefinite-lived intangible assets related to the trademarks acquired in the Power Solutions, Connectivity Solutions, Cinch and Fibreco acquisitions. The Company's interim test on its indefinite-lived intangible assets indicated that the carrying value of its long-lived assets was recoverable and that

impairment existed as of the

July 31, 2019

testing date. Based on an additional analysis performed as of the

October 1, 2019

annual test date (see Note

), management concluded that

impairment existed as of that date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 6 - Other Assets

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Other Assets Disclosure [Text Block]

6.	OTHER ASSETS

December 31, 2019

and

2018

, the Company has obligations of

$21.5

million and

$18.7

million, respectively, associated with its SERP. As a means of informally funding these obligations, the Company has invested in life insurance policies related to certain employees and marketable securities held in a rabbi trust. At

December 31, 2019

and

2018

, these assets had a combined value of

$14.7

million and

$13.0

million, respectively.

Company-Owned Life Insurance

Investments in company-owned life insurance policies ("COLI") were made with the intention of utilizing them as a long-term funding source for the Company's SERP obligations. However, the cash surrender value of the COLI does

not

represent a committed funding source for these obligations. Any proceeds from these policies are subject to claims from creditors. The cash surrender value of the COLI of

$13.7

million and

$11.6

million at

December 31, 2019

and

2018

, respectively, is included in other assets in the accompanying consolidated balance sheets. The volatility in global equity markets in recent years has also had an effect on the cash surrender value of the COLI policies. The Company recorded income (expense) to account for the increase (decrease) in cash surrender value in the amount of

$2.4

million and (

$0.4

) million during the years ended

December 31, 2019

and

2018

, respectively. These fluctuations in the cash surrender value were allocated between cost of sales and selling, general and administrative expenses on the consolidated statements of operations for the years ended

December 31, 2019

and

2018

. The allocation is consistent with the costs associated with the long-term employee benefit obligations that the COLI is intended to fund.

Other Investments

December 31, 2019

and

2018

, the Company held, in the aforementioned rabbi trust, available-for-sale investments at a cost of

$1.1

million and

$1.4

million, respectively. Together with the COLI described above, these investments are intended to fund the Company's SERP obligations and are classified as other assets in the accompanying consolidated balance sheets. The Company monitors these investments for impairment on an ongoing basis. At

December 31, 2019

and

2018

, the fair market value of these investments was

$1.1

million and

$1.4

million, respectively.

Note 7 - Inventories

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Inventory Disclosure [Text Block]

7.	INVENTORIES

The components of inventories are as follows:

	December 31,
	2019		2018
Raw materials	$	47,936	$	63,348
Work in progress		27,065		21,441
Finished goods		32,275		35,279
Inventories	$	107,276	$	120,068

Note 8 - Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

8.	PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consist of the following:

	December 31,
	2019			2018
Land	$	1,431		$	2,251
Buildings and improvements		29,722			30,119
Machinery and equipment		132,134			126,747
Construction in progress		5,090			4,687
		168,377			163,804
Accumulated depreciation		(126,434	)		(119,872	)
Property, plant and equipment, net	$	41,943		$	43,932

Depreciation expense for the years ended

December 31, 2019

and

2018

was

$10.0

million and

$11.8

million, respectively.

Note 9 - Income Taxes

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Income Tax Disclosure [Text Block]

9.	INCOME TAXES

The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. The Company is

longer subject to U.S. federal examinations by tax authorities for years before

2016

and for state examinations before

2013.

Regarding foreign subsidiaries, the Company is

longer subject to examination by tax authorities for years before

2009

in Asia and generally

2011

in Europe. The Company is currently under examination by the taxing authorities in Slovakia for the tax year

2014

and has accrued tax based on preliminary findings.

December 31, 2019

and

2018,

the Company has approximately

$29.1

million and

$28.9

million, respectively, of liabilities for uncertain tax positions (

$2.2

million and

$1.4

million, respectively, is included in other current liabilities on the consolidated balance sheets and

$26.9

million and

$27.5

million, respectively, is included in liability for uncertain tax positions on the consolidated balance sheets). These amounts, if recognized, would reduce the Company’s effective tax rate. As of

December 31, 2019,

approximately

$2.2

million of the Company’s liabilities for uncertain tax positions are expected to be resolved during the next

twelve

months by way of expiration of the related statute of limitations.

As a result of the expiration of the statutes of limitations for specific jurisdictions, it is reasonably possible that the related unrecognized benefits for tax positions taken regarding previously filed tax returns

may

change materially from those recorded as liabilities for uncertain tax positions in the Company’s consolidated financial statements at

December 31, 2019.

A total of

$2.2

million of the liability for uncertain tax positions, of which

$0.9

million related to the

2009

tax year is scheduled to expire on

June 1, 2020.

The remaining

$1.3

million relates to the

2016

tax year and is scheduled to expire on

September 15, 2020.

Of the

$1.4

million of liability for uncertain tax positions that expired in

2019,

$1.0

million of liability relates to the

2008

tax year,

$0.1

million relates to the

2015

tax year and the remaining

$0.3

million relates to the interest on the

2017

transition tax that was settled during the tax year ended

December 31, 2019.

A reconciliation of the beginning and ending amount of the liability for uncertain tax positions, including the portion included in income taxes payable, is as follows:

	Year Ended December 31,
	2019			2018
Liability for uncertain tax positions - January 1	$	28,951		$	30,430
Additions based on tax positions related to the current year		1,738			1,703
Translation adjustment		(211	)		(657	)
Settlement/expiration of statutes of limitations		(1,417	)		(2,525	)
Liability for uncertain tax positions - December 31	$	29,061		$	28,951

The Company’s policy is to recognize interest and penalties related to uncertain tax positions as a component of the current provision for income taxes. During the years ended

December 31, 2019

and

2018,

the Company recognized

$0.7

million and

$1.3

million, respectively, in interest and penalties in the consolidated statements of operations. During the years ended

December 31, 2019

and

2018,

the Company recognized a benefit of

$0.7

million and

$0.3

million, respectively, for the reversal of such interest and penalties, relating to the expiration of statues of limitations and settlement of the acquired liability for uncertain tax positions, respectively. The Company has approximately

$4.9

million and

$3.8

million accrued for the payment of interest and penalties at

December 31, 2019

and

2018,

respectively, which is included in both income taxes payable and liability for uncertain tax positions in the consolidated balance sheets.

The Company’s total (loss) earnings before provision for income taxes included (loss) earnings from domestic operations of (

$17.1

) million and

$0.3

million for

2019

and

2018,

respectively, and earnings before provision for income taxes from foreign operations of

$9.8

million and

$23.3

million for

2019

and

2018,

respectively.

The provision (benefit) for income taxes consists of the following:

	Year Ended December 31,
	2019			2018
Current:
Federal	$	(215	)	$	(3,517	)
State		141			152
Foreign		3,687			3,782
		3,613			417
Deferred:
Federal		(2,222	)		2,895
State		(135	)		196
Foreign		185			(601	)
		(2,172	)		2,490

	$	1,441		$	2,907

A reconciliation of taxes on income computed at the U.S. federal statutory rate to amounts provided is as follows:

	Year Ended December 31,
	2019						2018
	$			%			$			%
Tax (benefit) provision computed at the federal statutory rate	$	(1,534	)		21	%	$	4,959			21	%
Increase (decrease) in taxes resulting from:
Different tax rates applicable to foreign operations		2,978			(41	%)		1,231			5	%
Increase in (reversal of) liability for uncertain tax positions - net		320			(4	%)		(822	)		(3	%)
Impact of U.S. Tax Reform		-			0	%		(2,628	)		(11	%)
Research and experimentation and foreign tax credits		(907	)		12	%		(300	)		(1	%)
State taxes, net of federal benefit		(54	)		1	%		322			1	%
SERP/COLI and restricted stock income		(547	)		7	%		195			1	%
Impairment of goodwill		1,522			(21	%)		-			0	%
Other, including under/(over) accruals, unrealized foreign exchange gains and amortization of purchase accounting intangibles		(337	)		5	%		(50	)		0	%
Tax provision computed at the Company's effective tax rate	$	1,441			(20	%)	$	2,907			12	%

The Company holds an offshore business license from the government of Macao. With this license, a Macao offshore company named Bel Fuse (Macao Commercial Offshore) Limited has been established to handle the Company’s sales to

third

-party customers in Asia. Sales by this company consist of products manufactured in the PRC. This company is

not

subject to Macao corporate profit taxes which are imposed at a tax rate of

12%.

September 21, 2018,

the Executive Council of the Macao SAR Government has proposed to abolish the existing Offshore Law. It is proposed that the existing law and the relevant regulations related to the offshore business will be abolished, and that the operating permit to carry on offshore business will be terminated on

January 1, 2021.

The Company is keeping the operations in Macao and will be subject to a

12%

tax on its income from this operation.

As of

December 31, 2019,

the Company has gross foreign income tax net operating losses (“NOL”) of

$29.6

million, foreign tax credits of

$0.3

million and capital loss carryforwards of

$0.2

million which amount to a total of

$7.1

million of deferred tax assets. The Company has established valuation allowances totaling

$7.1

million against these deferred tax assets. In addition, the Company has gross federal and state income tax NOLs of

$1.5

million, including

$0.8

million of NOLs acquired from Array, which amount to

$0.2

million of deferred tax assets and tax credit carryforwards of

$2.1

million. The Company has established valuation allowances of

$1.1

million against these deferred tax assets. The foreign NOL's can be carried forward indefinitely, the NOL acquired from Array expires at various times during

2026

–

2027,

the state NOL's expire at various times during

2020

–

2033

and the tax credit carryforwards expire at various times during

2026

2035.

Management has

specific plans to indefinitely reinvest the unremitted earnings of our foreign subsidiaries as of

December 31, 2019.

Applicable income and dividend withholding taxes of

$0.2

million have been reflected in the accompanying consolidated statements of operations for the year ended

December 31, 2019.

Due to the practicality of determining the deferred taxes on outside basis differences in our investments in our foreign subsidiaries, we have

not

provided for deferred taxes on outside basis differences and deemed that these basis differences will be indefinitely reinvested.

During the

fourth

quarter of

2018,

the Company completed the analysis of the impacts of the U.S. tax reform and recognized the tax consequences of all unremitted foreign earnings. At

December 31, 2017,

we had made a reasonable estimate of the effects on our existing deferred tax balances and the

one

-time transition tax in which we recognized a provisional amount of

$18.1

million, which was included as a component of income tax expense from continuing operations. On the basis of revised earnings and profit computations that were completed during the year ended

December 31, 2018,

the Company recognized a measurement-period adjustment reducing the deemed repatriation tax by

$2.6

million, resulting in the reduction of the Company’s provisional estimate from

$18.1

million to

$15.5

million. After payments made during

2018,

the remaining deemed repatriation taxes payable of

$10.8

million is included in other current liabilities on the Company’s consolidated balance sheet at

December 31, 2018.

December 31, 2019,

the majority of the deemed repatriation tax is included in other long-term liabilities on the Company’s consolidated balance sheet due to clarification on an Internal Revenue Service notice received in

December 2018.

Components of deferred income tax assets are as follows:

	December 31,
	2019		2018
	Tax Effect		Tax Effect

Deferred tax assets:
State tax credits	$	1,046	$	1,000
Unfunded pension liability		1,102		605
Reserves and accruals		2,721		2,483
Federal, state and foreign net operating loss and credit carryforwards		8,042		8,370
Depreciation		686		850
Amortization		698		-
Lease accounting		3,961		-
Other accruals		5,079		5,641
Total deferred tax assets		23,335		18,949
Deferred tax liabilities:
Depreciation		1,901		1,666
Amortization		6,973		7,930
Lease accounting		3,871		-
Other accruals		370		893
Total deferred tax liabilities		13,115		10,489
Valuation allowance		8,216		9,200
Net deferred tax assets/(liabilities)	$	2,004	$	(740	)

The Company continues to monitor proposed legislation affecting the taxation of transfers of U.S. intangible property and other potential tax law changes.

Note 10 - Debt

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Debt Disclosure [Text Block]

10.

DEBT

December 31, 2019

and

2018

, borrowings outstanding related to the respective term loans described below were

$113.0

million and

$116.0

million, respectively, with

$32.0

million and

borrowings outstanding under the revolver, respectively. The unused credit available under the applicable credit facility was

$43.0

million at

December 31, 2019

and

$75.0

million at

December 31, 2018

. At

December 31, 2019

and

2018

, the carrying value of the debt on the consolidated balance sheets is reflected net of

$1.3

million and

$1.8

million, respectively, of deferred financing costs.

The interest rate in effect at

December 31, 2019

was

3.31%,

which consisted of LIBOR of

1.81

% plus the Company's margin of

1.50%.

The interest rate in effect at

December 31, 2018

was

4.31%,

which consisted of LIBOR of

2.56%

plus the Company's margin of

1.75%.

In connection with its outstanding borrowings and amortization of the deferred financing costs described below, the Company incurred

$5.4

million and

$5.3

million of interest expense during the years ended

December 31, 2019

and

2018

, respectively.

2014

Credit and Security Agreement

June 19, 2014,

the Company entered into a senior Credit and Security Agreement with KeyBank National Association ("KeyBank"), as administrative agent and lender, which was amended on

June 30, 2014

principally to add a syndicate of additional lenders (as so amended, the

"2014

CSA"). The

2014

CSA consisted of (i) a

$50

million revolving credit facility ("Revolver"), (ii) a

$145

million term loan facility ("Term Loan") and (iii) a

$70

million delayed draw term loan ("DDTL"). The maturity date of the

2014

CSA was

June 18, 2019.

The Company recorded

$5.8

million of deferred financing costs associated with the

2014

CSA, to be amortized through interest expense over the

-year term of the agreement.

2016

Amendment

March 2016,

the Company amended the terms of the

2014

CSA to modify (i) the date by which the Company was obligated to make excess cash flow prepayments in

2016

on account of excess cash flow achieved for fiscal year

2015,

(ii) the method of application of mandatory and voluntary prepayments related to the Company's loans, and (iii) the maximum Leverage Ratio of the Company allowed under the

2014

CSA for the period from the effective date of the amendment through

September 2016.

In connection with this amendment to the

2014

CSA, the Company paid

$0.7

million of deferred financing costs, and the modification to the amortization schedule resulted in

$0.5

million of existing deferred financing costs to be accelerated and recorded as interest expense during the

first

quarter of

2016.

2017

Amendment and Refinancing

December 11, 2017,

the Company refinanced the borrowings under the

2014

CSA and further amended its terms as follows: (i) extended the maturity date to

December 11, 2022, (

ii) revised the amount of the Term Loan to

$125.0

million, (iii) increased the amount available under the Revolver to

$75.0

million, (iv) reduced mandatory amortization payments over the

first

four

years of the new

-year term; and (v) reduced the pricing grid related to interest expense, among other items (the

"2017

CSA"). Concurrent with its entry into the

2017

CSA, the Company's outstanding balances due under the DDTL and Revolver were paid in full. In connection with

2017

CSA and related refinancing, the Company paid

$1.8

million of deferred financing costs. Due to the magnitude of the modifications to the

2014

CSA, including a reduction in the number of lenders within the syndicate, this modification was deemed an extinguishment of the balances outstanding related to the Term Loan and DDTL that originated under the

2014

CSA. As a result,

$1.0

million of existing deferred financing costs were accelerated and recorded as interest expense during the

fourth

quarter of

2017.

Under the terms of the

2017

CSA, the Company is entitled, subject to the satisfaction of certain conditions, to request additional commitments under the revolving credit facility or term loans in the aggregate principal amount of up to

$75

million to the extent that existing or new lenders agree to provide such additional commitments and/or term loans.

The obligations of the Company under the

2017

CSA are guaranteed by certain of the Company's material U.S. subsidiaries (together with the Company, the "Loan Parties") and are secured by a

first

priority security interest in substantially all of the existing and future personal property of the Loan Parties, certain material real property of the Loan Parties and certain of the Loan Parties' material U.S. subsidiaries, including

65%

of the voting capital stock of certain of the Loan Parties' direct foreign subsidiaries.

The borrowings under the

2017

CSA bear interest at a rate equal to, at the Company's option, either (

) LIBOR, plus a margin ranging from

1.375%

per annum to

2.75%

per annum depending on the Company's leverage ratio, or (

)(a) an "Alternate Base Rate," which is the highest of (i) the federal funds rate plus

0.50%,

(ii) KeyBank's prime rate and (iii) the LIBOR rate with a maturity of

one

month plus

1.00%,

plus (b) a margin ranging from

0.375%

per annum to

1.75%

per annum, depending on the Company's leverage ratio.

The

2017

CSA contains customary representations and warranties, covenants and events of default and financial covenants that measure (i) the ratio of the Company's total funded indebtedness, on a consolidated basis, to the amount of the Company's consolidated EBITDA, as defined, ("Leverage Ratio") and (ii) the ratio of the amount of the Company's consolidated EBITDA to the Company's consolidated fixed charges ("Fixed Charge Coverage Ratio"). If an event of default occurs, the lenders under the CSA would be entitled to take various actions, including the acceleration of amounts due thereunder and all actions permitted to be taken by a secured creditor.

2020

Amendment

February 18, 2020,

the Company further amended its credit agreement whereby the Company voluntarily prepaid a portion of its term loan under the Credit Agreement in the amount of

$8.2

million. The Amendment also served to modify the interest rate and fees applicable to the loans under the credit agreement and change certain covenants related to matters including acquisitions, share repurchases and financial ratios.

December 31, 2019

, the Company was in compliance with its debt covenants, including its most restrictive covenant, the Fixed Charge Coverage Ratio.

Scheduled principal payments of the total debt outstanding at

December 31, 2019

are as follows (in thousands):

2020	$	5,948	(1)
2021		5,948
2022		133,118
Total long-term debt		145,014
Less: Current maturities of long-term debt		(5,948	)
Noncurrent portion of long-term debt	$	139,066

(

)

The

$5.9

million of scheduled principal payments for

2020

noted in the table above was paid in full on

February 18, 2020,

as part of the above-mentioned

$8.2

million voluntary prepayment made in connection with the amendment to the Credit Agreement.

Note 11 - Accrued Expenses

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

11.	ACCRUED EXPENSES

Accrued expenses consist of the following:

	December 31,
	2019		2018
Sales commissions	$	2,542	$	2,609
Subcontracting labor		990		1,550
Salaries, bonuses and related benefits		14,715		18,275
Warranty accrual		1,576		1,078
Other		7,095		8,778
	$	26,918	$	32,290

The change in warranty accrual during

2019

primarily related to repair costs incurred and adjustments to pre-existing warranties.

There were

new material warranty charges incurred during

2019

Note 12 - Segments

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

12.

SEGMENTS

The Company operates in

one

industry with

three

reportable operating segments, which represent the Company's

three

product groups and a corporate segment. The segments consist of Cinch Connectivity Solutions, Power Solutions and Protection, Magnetic Solutions and a Corporate segment. The primary criteria by which financial performance is evaluated and resources are allocated are net sales and income from operations. The following is a summary of key financial data:

	Year Ended December 31, 2019
	Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Net sales	$	172,348		$	163,528		$	156,536		$	-		$	492,412
Gross Profit		44,417			32,846			34,350			(916	)		110,697
Gross Profit %		25.8	%		20.1	%		21.9	%		nm			22.5	%
Total Assets		145,344			168,422			89,463			65,688			468,917
Capital Expenditures		2,934			4,570			2,387			-			9,891
Depreciation and Amortization Expense		6,021			7,858			2,592			-			16,471

	Year Ended December 31, 2018
	Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Net sales	$	186,724		$	176,053		$	185,407		$	-		$	548,184
Gross Profit		55,092			39,976			46,467			(2,278	)		139,257
Gross Profit %		29.5	%		22.7	%		25.1	%		nm			25.4	%
Total Assets		140,240			171,165			119,573			12,546			443,524
Capital Expenditures		5,004			3,661			2,929			-			11,594
Depreciation and Amortization Expense		6,269			9,225			2,713			-			18,207

Entity-Wide Information

The following is a summary of entity-wide information related to the Company's net sales to external customers by geographic area and by major product line.

	Year Ended December 31,
	2019		2018
Net Sales by Geographic Location:

United States	$	256,044	$	271,691
Macao		154,745		187,204
United Kingdom		24,877		26,340
Slovakia		22,705		24,123
Germany		14,855		15,298
Switzerland		10,654		13,279
All other foreign countries		8,532		10,249
Consolidated net sales	$	492,412	$	548,184

Net Sales by Major Product Line:

Connectivity solutions	$	172,348	$	186,724
Magnetic solutions		156,536		185,407
Power solutions and protection		163,528		176,053
Consolidated net sales	$	492,412	$	548,184

The following is a summary of long-lived assets by geographic area as of

December 31, 2019

and

2018

	December 31,
	2019		2018
Long-lived Assets by Geographic Location:

United States	$	27,377	$	27,505
People's Republic of China (PRC)		30,245		29,563
Slovakia		5,726		6,475
Switzerland		2,339		3,023
United Kingdom		2,053		2,330
All other foreign countries		1,123		1,117
Consolidated long-lived assets	$	68,863	$	70,013

Long-lived assets consist of property, plant and equipment, net and other assets of the Company that are identified with the operations of each geographic area.

The territory of Hong Kong became a Special Administrative Region ("SAR") of the PRC in the middle of

1997.

The territory of Macao became a SAR of the PRC at the end of

1999.

Management cannot presently predict what future impact this will have on the Company, if any, or how the political climate in the PRC will affect the Company's contractual arrangements in the PRC. A significant portion of the Company's manufacturing operations and approximately

30.5%

of its identifiable assets are located in Asia.

Net Sales to Major Customers

The Company had net sales to

one

customer in excess of

ten

percent of consolidated net sales in each of

2019

and

2018

. The net sales associated with this customer was

$50.2

million in

2019

(

10.2%

of sales) and

$67.7

million in

2018

(

12.3%

of sales). Net sales related to this significant customer were primarily reflected in the Magnetic Solutions operating segment during each of the

two

years discussed.

Note 13 - Retirement Fund and Profit Sharing Plan

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

13.	RETIREMENT FUND AND PROFIT SHARING PLAN

The Company maintains the Bel Fuse Inc. Employees' Savings Plan, a defined contribution plan that is intended to meet the applicable requirements for tax-qualification under sections

401

(a) and (k) of the Internal Revenue Code of

1986,

as amended (the "Code"). The Employees' Savings Plan allows eligible employees to voluntarily contribute a percentage of their eligible compensation, subject to Code limitations, which contributions are matched by the Company in an amount equal to

100%

of the

first

of compensation contributed by participants, and

50%

of the next

of compensation contributed by participants. The Company's matching contribution is made in the form of Bel Fuse Inc. Class A common stock. Prior to

January 1, 2012,

the Company's matching and profit sharing contributions were made in the form of shares of Bel Fuse Inc. Class A and Class B common stock. The expense for the years ended

December 31, 2019

and

2018

amounted to

$1.1

million and

$1.3

million, respectively. As of

December 31, 2019

, the plan owned

166,004

and

108,868

shares of Bel Fuse Inc. Class A and Class B common stock, respectively.

The Company's subsidiaries in Asia have a retirement fund covering substantially all of their Hong Kong based full-time employees. Eligible employees contribute up to

of salary to the fund. In addition, the Company must contribute a minimum of

of eligible salary, as determined by Hong Kong government regulations. The Company currently contributes

of eligible salary in cash or Company stock. The expense for the years ended

December 31, 2019

and

2018

amounted to approximately

0.3

million in each year. As of

December 31, 2019

, the plan owned

3,323

and

17,342

shares of Bel Fuse Inc. Class A and Class B common stock, respectively.

The Company maintains a SERP, which is designed to provide a limited group of key management and other key employees of the Company with supplemental retirement and death benefits. Participants in the SERP are selected by the Compensation Committee of the Board of Directors. The SERP initially became effective in

2002

and was amended and restated in

April 2007

to conform with applicable requirements of Section

409A

of the Internal Revenue Code and to modify the provisions regarding benefits payable in connection with a change in control of the Company. The Plan is unfunded. Benefits under the SERP are payable from the general assets of the Company, but the Company has established a rabbi trust which includes certain life insurance policies in effect on participants as well as other investments to partially cover the Company's obligations under the Plan. See Note

"Other Assets," for further information on these assets.

The benefits available under the SERP vary according to when and how the participant terminates employment with the Company. If a participant retires (with the prior written consent of the Company) on his normal retirement date (

years old,

years of service, and

years of Plan participation), his normal retirement benefit under the Plan would be annual payments equal to

40%

of his average base compensation (calculated using compensation from the highest

five

consecutive calendar years of Plan participation), payable in monthly installments for the remainder of his life. If a participant retires early from the Company (

years old,

years of service, and

five

years of Plan participation), his early retirement benefit under the Plan would be an amount (i) calculated as if his early retirement date were in fact his normal retirement date, (ii) multiplied by a fraction, with the numerator being the actual years of service the participant has with the Company and the denominator being the years of service the participant would have had if he had retired at age

65,

and (iii) actuarially reduced to reflect the early retirement date. If a participant dies prior to receiving

120

monthly payments under the Plan, his beneficiary would be entitled to continue receiving benefits for the shorter of (i) the time necessary to complete

120

monthly payments or (ii)

months. If a participant dies while employed by the Company, his beneficiary would receive, as a survivor benefit, an annual amount equal to (i)

100%

of the participant's annual base salary at date of death for

one

year, and (ii)

50%

of the participant's annual base salary at date of death for each of the following

four

years, each payable in monthly installments. The Plan also provides for disability benefits, and a forfeiture of benefits if a participant terminates employment for reasons other than those contemplated under the Plan. The expense related to the Plan for the years ended

December 31, 2019

and

2018

amounted to

$1.5

million and

$1.8

million, respectively.

Net Periodic Benefit Cost

The net periodic benefit cost related to the SERP consisted of the following components during the years ended

December 31, 2019

and

2018

	Year Ended December 31,
	2019		2018

Service Cost	$	576	$	732
Interest Cost		739		664
Net amortization		192		443
Net periodic benefit cost	$	1,507	$	1,839

The service cost component of net benefit cost is presented within cost of sales or selling, general and administrative expense on the accompanying consolidated statements of operations, in accordance with where compensation cost for the related associate is reported. All other components of net benefit cost, including interest cost and net amortization noted above, are presented within other (expense) income, net in the accompanying consolidated statements of operations.

Obligations and Funded Status

Summarized information about the changes in plan assets and benefit obligation, the funded status and the amounts recorded at

December 31, 2019

and

2018

are as follows:

	Year Ended December 31,
	2019			2018
Fair value of plan assets, January 1	$	-		$	-
Company contributions		430			325
Benefits paid		(430	)		(325	)
Fair value of plan assets, December 31	$	-		$	-
Benefit obligation, January 1	$	18,676		$	19,134
Service cost		576			732
Interest cost		739			664
Benefits paid		(430	)		(325	)
Plan amendments		-			39
Actuarial (gains) losses		1,980			(1,568	)
Benefit obligation, December 31		21,541			18,676
Underfunded status, December 31	$	(21,541	)	$	(18,676	)

The Company has recorded the

2019

and

2018

underfunded status as a long-term liability on the consolidated balance sheets. The accumulated benefit obligation for the SERP was

$18.5

million as of

December 31, 2019

and

$16.5

million as of

December 31, 2018

. The aforementioned company-owned life insurance policies and marketable securities held in a rabbi trust had a combined value of

$14.7

million and

$13.0

million at

December 31, 2019

and

2018

, respectively. See Note

"Other Assets," for additional information on these investments.

The estimated net loss and prior service cost for the SERP that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year is

$0.3

million. The Company expects to make contributions of

$0.4

million to the SERP in

2020.

The Company had

net transition assets or obligations recognized as an adjustment to other comprehensive income and does

not

anticipate any plan assets being returned to the Company during

2020,

as the plan has

assets.

The following benefit payments, which reflect expected future service, are expected to be paid:

Year Ending
December 31,

2020	$	662
2021		890
2022		893
2023		932
2024		968
2025 - 2029		5,432

The following gross amounts are recognized net of tax in accumulated other comprehensive loss:

	December 31,
	2019		2018
Prior service cost	$	738	$	918
Net loss		1,965		1,977
	$	2,703	$	2,895

Actuarial Assumptions

The weighted average assumptions used in determining the periodic net cost and benefit obligation information related to the SERP are as follows:

	Year Ended December 31,
	2019			2018
Net periodic benefit cost:
Discount rate		4.00	%		3.50	%
Rate of compensation increase		2.50	%		3.00	%
Benefit obligation:
Discount rate		3.00	%		4.00	%
Rate of compensation increase		2.50	%		2.50	%

Note 14 - Share-based Compensation

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

14.	SHARE-BASED COMPENSATION

The Company has an equity compensation program (the "Program") which provides for the granting of "Incentive Stock Options" within the meaning of Section

422

of the Internal Revenue Code of

1986,

as amended, non-qualified stock options and restricted stock awards. The Company believes that such awards better align the interest of its employees with those of its shareholders. The

2011

Equity Compensation Plan provides for the issuance of

1.4

million shares of the Company's Class B common stock. At

December 31, 2019

323,850

shares remained available for future issuance under the

2011

Equity Compensation Plan.

The Company records compensation expense in its consolidated statements of operations related to employee stock-based options and awards. The aggregate pretax compensation cost recognized for stock-based compensation amounted to approximately

$2.9

million and

$2.8

million for

2019

and

2018

, respectively, and related solely to restricted stock awards. The Company did

not

use any cash to settle any equity instruments granted under share-based arrangements during

2019

and

2018

. At

December 31, 2019

and

2018

, the only instruments issued and outstanding under the Program related to restricted stock awards.

Restricted Stock Awards

The Company provides common stock awards to certain officers, directors and key employees. The Company grants these awards, at its discretion, from the shares available under the Program. Unless otherwise provided at the date of grant or unless subsequently accelerated, the shares awarded are typically earned in

25%

increments on the second, third,

fourth

and

fifth

anniversaries of the award and are distributed provided the employee has remained employed by the Company through such anniversary dates; otherwise the unearned shares are forfeited. The market value of these shares at the date of award is recorded as compensation expense on the straight-line method over the applicable vesting period from the respective award dates, as adjusted for forfeitures of unvested awards. During

2019

and

2018

, the Company issued

70,000

shares and

262,000

shares of the Company's Class B common stock, respectively, under a restricted stock plan to various officers, directors and employees.

A summary of the restricted stock activity under the Program for the year ended

December 31, 2019

is presented below:

					Weighted Average
Restricted Stock			Weighted Average		Remaining
Awards	Shares		Award Price		Contractual Term (Years)

Outstanding at January 1, 2019		527,900	$	24.37		3.5 years
Granted		70,000		20.80
Vested		117,850		23.58
Forfeited		34,750		25.06
Outstanding at December 31, 2019		445,300	$	23.96		3.4 years

As of

December 31, 2019

, there was

$6.8

million of total pretax unrecognized compensation cost related to non-vested stock-based compensation arrangements granted under the restricted stock award plan. That cost is expected to be recognized over a period of

4.4

years. This expense is recorded in cost of sales and SG&A expense based upon the employment classification of the award recipients.

The Company's policy is to issue new shares to satisfy restricted stock awards. Currently the Company believes that the majority of its restricted stock awards will vest.

Note 15 - Common Stock

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

15.	COMMON STOCK

As of

December 31, 2019

, according to regulatory filings, there was

one

shareholder of the Company's common stock (other than shareholders subject to specific exceptions) with ownership in excess of

10%

of Class A outstanding shares with

ownership of the Company's Class B common stock. In accordance with the Company's certificate of incorporation, the Class B Protection clause is triggered if a shareholder owns

10%

or more of the outstanding Class A common stock and does

not

own an equal or greater percentage of all then outstanding shares of both Class A and Class B common stock (all of which common stock must have been acquired after the date of the

1998

recapitalization). In such a circumstance, such shareholder must, within

days of the trigger date, purchase Class B common shares, in an amount and at a price determined in accordance with a formula described in the Company's certificate of incorporation, or forfeit its right to vote its Class A common shares. As of

December 31, 2019

, to the Company's knowledge, this shareholder had

not

purchased any Class B shares to comply with these requirements. In order to vote its shares at Bel's next shareholders' meeting, this shareholder must either purchase the required number of Class B common shares or sell or otherwise transfer Class A common shares until its Class A holdings are under

10%.

As of

December 31, 2019

, to the Company's knowledge, this shareholder owned

21.5%

of the Company's Class A common stock in the aggregate and had

not

taken steps to either purchase the required number of Class B common shares or sell or otherwise transfer Class A common shares until its Class A holdings fall below

10%.

Unless and until this situation is satisfied in a manner permitted by the Company's Restated Certificate of Incorporation, the subject shareholder will

not

be permitted to vote its shares of common stock.

Throughout

2019

and

2018

, the Company declared cash dividends on a quarterly basis at a rate of

0.06

per Class A (voting) share of common stock and

0.07

per Class B (non-voting) share of common stock. The Company declared and paid cash dividends totaling

$3.4

million and

$3.3

million in

2019

and

2018

, respectively. There are

contractual restrictions on the Company's ability to pay dividends, provided that the Company is

not

in default under its credit agreements immediately before such payment and after giving effect to such payment.

Note 16 - Leases

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

16.

LEASES

The Company has operating leases for its facilities used for manufacturing, research and development, sales and administration. There are also operating and finance leases related to manufacturing equipment, office equipment and vehicles. These leases have remaining lease terms ranging from

year to

years. Certain of the leases contain options to extend the term of the lease and certain of the leases contain options to terminate the lease within a specified period of time. These options to extend or terminate a lease are included in the lease term only when it is reasonably likely that the Company will elect that option. The Company is

not

a party to any material sublease arrangements.

The components of lease expense, which are included in cost of sales and selling, general and administrative expense, based on the underlying use of the ROU asset, were as follows:

	Year Ended
	December 31, 2019
Amortization of ROU assets - finance leases	$	134
Interest on lease liabilities - finance leases		48
Operating lease cost (cost resulting from lease payments)		7,897
Short-term lease cost		102
Variable lease cost (cost excluded from lease payments)		256
Sublease income		-
Total lease cost	$	8,437

Supplemental cash flow information related to leases are as follows:

	Year Ended
	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,840
Operating cash flows from finance leases		48
Finance cash flows from finance leases		117
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		24,494
Finance leases		9

Supplemental balance sheet information related to leases was as follows:

	December 31, 2019
Operating Leases:
Operating lease right-of-use assets	$	18,504
Operating lease liability, current		7,377
Operating lease liability, long-term		11,751
Total operating lease liabilities		19,128

Finance Leases:
Property, plant and equipment, gross	$	882
Accumulated depreciation		(262	)
Property, plant and equipment, net		620
Other current liabilities		121
Other long-term liabilities		512
Total finance lease liabilities	$	633

	December 31, 2019
Weighted-Average Remaining Lease Term:
Operating leases (in years)		3.36
Finance leases (in years)		4.86

Weighted-Average Discount Rate:
Operating leases		6.0	%
Finance leases		6.4	%

Our discount rate is based on our incremental borrowing rate, as adjusted based on the geographic regions in which our leases assets are located.

Maturities of lease liabilities were as follows as of

December 31, 2019:

Year Ending	Operating			Finance
December 31,	Leases			Leases
2020	$	7,217		$	232
2021		6,126			232
2022		4,190			232
2023		2,145			232
2024		578			218
Thereafter		544			141
Total undiscounted cash flows		20,800			1,287
Less imputed interest		(1,672	)		(654	)
Present value of lease liabilities	$	19,128		$	633

Maturities of lease liabilities were as follows as of

December 31, 2018:

Year Ending	Operating
December 31,	Leases
2019	$	7,363
2020		6,017
2021		4,967
2022		3,338
2023		1,194
Thereafter		442
	$	23,321

Note 17 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

17.	COMMITMENTS AND CONTINGENCIES

Other Commitments

The Company submits purchase orders for raw materials to various vendors throughout the year for current production requirements, as well as forecasted requirements. Certain of these purchase orders relate to special purpose material and, as such, the Company

may

incur penalties if an order is cancelled. The Company had outstanding purchase orders related to raw materials in the amount of $

42.5

million and

$58.9

million at

December 31, 2019

and

December 31, 2018

, respectively. The Company also had outstanding purchase orders related to capital expenditures in the amount of $

2.8

million and

$5.2

million at

December 31, 2019

and

December 31, 2018

, respectively.

Legal Proceedings

The Company is party to a number of legal actions and claims,

none

of which individually or in the aggregate, in the opinion of management, are expected to have a material adverse effect on the Company's consolidated results of operations or consolidated financial position.

In connection with the acquisition of Power Solutions, there is an ongoing claim by the Arezzo Revenue Agency in Italy concerning certain tax matters related to what was then Power-One Asia Pacific Electronics Shenzhen Co. Ltd. (now Bel Power Solutions Asia Pacific Electronics Shenzhen Co. Ltd, or "BPS China") for the years

2004

2006.

September 2012,

the Tax Court of Arezzo ruled in favor of BPS China and cancelled the claim. In

February 2013,

the Arezzo Revenue Agency filed an appeal of the Tax Court's ruling. The hearing of the appeal was held on

October 2, 2014.

October 13, 2014,

BPS China was informed of the Regional Tax Commission of Florence ruling which was in favor of the Arezzo Revenue Agency and against BPS China. An appeal was filed on

July 18, 2015

before the Regional Tax Commission of Florence and rejected. On

December 5, 2016,

the Arezzo Revenue Agency filed an appeal with the Supreme Court and BPS China filed a counter-appeal on

January 4, 2017.

The Supreme Court has yet to render its judgment. The estimated liability related to this matter is approximately

$12.0

million and has been included as a liability for uncertain tax positions on the accompanying consolidated balance sheets. As Bel is fully indemnified in this matter per the terms of the stock purchase agreement with ABB, a corresponding other asset for indemnification is also included in other assets on the accompanying consolidated balance sheets at

December 31, 2019

and

December 31, 2018

2015,

the Company was provided notice of a potential patent infringement claim by Setec Netzwerke AG ("Setec"), a German company for the alleged infringement of their patent EP

306

934

B1.

Setec subsequently filed a lawsuit against the Company and

three

of its subsidiaries in the Regional Court of Dusseldorf, Germany on

January 29, 2016

for patent infringement. The Company filed its defense to Setec's Complaint and a nullity lawsuit against Setec's patent on

August 31, 2016.

The Court hearing on infringement took place on

March 23, 2017.

Upon hearing argument from both parties, the Court issued a decision on

April 6, 2017

staying final judgment in the infringement case pending resolution of the nullity lawsuit in the Federal Patents Courts in Munich, Germany. The Federal Patents Courts issued its preliminary opinion regarding the patent-in-suit on

March 29, 2018,

stating that it considers the patent-in-suit to

not

be novel over the prior art documents presented in the case. The parties agreed to withdraw from the pending infringement and nullity proceedings and entered into a settlement agreement on

June 29, 2018.

The Company paid Setec

75,000

Euro in exchange for a perpetual, worldwide royalty-free license to the patent-in-suit and all its counterparts.

2015,

one

of the Company's subsidiaries in the PRC, Dongguan Transpower Electric Products Co., Ltd. ("Dongguan Transpower"), was provided notice of a claim by DG Yu Shing Industrial Development Company Limited against Dongguan Transpower and

three

other defendants for past due construction costs of approximately

$3.2

million. In

April 2018,

the

People Court of Dongguan ruled and provided an unfavorable judgment against Dongguan Transpower and

two

of the other defendants requiring payment of the aforementioned amount. The defendants were held to be jointly and severally liable for approximately

$3.2

million in costs. Due to the fact that

none

of the other defendants had sufficient funds to pay the damages amount, the Court ordered the entire amount (CNY

20,133,174

) to be paid by Dongguan Transpower. On

May 25, 2018,

the Court enforced its order and withdrew the damages amount from Dongguan Transpower's bank accounts. On

May 31, 2018,

Dongguan Transpower filed an action against the other defendants in CP Court to recoup the damages amount paid pursuant to an indemnification letter dated

October 16, 2015.

The Court heard arguments on

July 2, 2018

and rendered a verdict on

July 9, 2018

ordering the Jinmei entities (defendants) to pay CNY

20,133,174

back to Dongguan Transpower together with the incurred interest. On

August 27, 2018,

Dongguan Transpower received payment of CNY

20,430,203

(approximately

$3.2

million) from the defendants and this case was closed.

June 1, 2018,

the Company filed an action against Unipower, LLC in the United States District Court for the Southern District of New York for breach of contract. Specifically, the Company alleges in its Complaint that Unipower has willfully violated the Master Services Agreement ("MSA") entered into by the parties on

January 23, 2015

by failing to make payment for the products it contracted for under the MSA. The parties entered into a settlement agreement on

December 17, 2018

resolving all outstanding claims and a Stipulation of Dismissal was filed and entered on

January 10, 2019.

The Company is

not

a party to any other legal proceeding, the adverse outcome of which is likely to have a material adverse effect on the Company's consolidated financial condition or consolidated results of operations.

Note 18 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

18.	ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of accumulated other comprehensive loss as of

December 31, 2019

and

2018

are summarized below:

	December 31,
	2019			2018

Foreign currency translation adjustment	$	(20,032	)	$	(22,635	)
Unrealized holding gain on available-for-sale securities, net of taxes of $0 and $0 as of December 31, 2019 and 2018		12			12
Unfunded SERP liability, net of taxes of ($639) and ($680) as of December 31, 2019 and 2018		(4,045	)		(2,215	)

Accumulated other comprehensive loss	$	(24,065	)	$	(24,838	)

Changes in accumulated other comprehensive (loss) income by component during the years ended

December 31, 2019

and

2018

are as follows. All amounts are net of tax.

			Unrealized Holding
	Foreign Currency		Gains on
	Translation		Available-for-		Unfunded
	Adjustment		Sale Securities		SERP Liability			Total

Balance at January 1, 2018	$	(16,537)	$	145	$	(3,233)		$	(19,625)
Other comprehensive income (loss) before reclassifications		(6,098)		37		679			(5,382)
Amounts reclassified from accumulated other comprehensive income (loss)		-		(170)		339	(a)		169
Net current period other comprehensive income (loss)		(6,098)		(133)		1,018			(5,213)

Balance at December 31, 2018		(22,635)		12		(2,215)			(24,838)

Other comprehensive income (loss) before reclassifications		2,603		-		(1,492)			1,111
Amounts reclassified from accumulated other comprehensive income (loss)		-		-		125	(a)		125
Effect of adoption of ASU 2018-02 (Topic 220)		-		-		(463)			(463)
Net current period other comprehensive income (loss)		2,603		-		(1,830)			773

Balance at December 31, 2019	$	(20,032)	$	12	$	(4,045)		$	(24,065)

(a)

This reclassification relates to the amortization of prior service costs and gains/losses associated with the Company's SERP plan. This expense is allocated between cost of sales and selling, general and administrative expense based upon the employment classification of the plan participants.

Note 19 - Subsequent Events

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Subsequent Events [Text Block]

19.	SUBSEQUENT EVENTS

Credit Agreement Amendment

February 18, 2020,

the Company further amended its credit agreement whereby the Company voluntarily prepaid a portion of its term loan under the Credit Agreement in the amount of

$8.2

Coronavirus Outbreak

January 2020,

the recent outbreak of a novel strain of coronavirus was

first

identified and had an unfavorable impact on our

four

largest manufacturing facilities, which are located in China, throughout the

first

quarter of

2020.

Travel restrictions imposed by the local governmental authorities to control the spread of the virus resulted in an extended closure of our facilities in China over the Lunar New Year holiday, with the return of workers delayed until following the holiday break. By

March 9, 2020,

our overall worker return rate at our China facilities was approximately

85%.

Our suppliers, customers and our customers’ contract manufacturers have been similarly impacted, and many are also currently operating at less than full capacity. As the coronavirus continues to spread across Europe and the U.S., additional Bel facilities

may

be negatively impacted. In addition, the coronavirus has started to adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could affect demand for our end customers’ products. The extent to which the coronavirus will impact our business and our consolidated financial results will depend on future developments which are highly uncertain and cannot presently be predicted or estimated.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Principles of Consolidation

- The consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

Reclassification, Policy [Policy Text Block]

Reclassifications

- During the

fourth

quarter of

2019,

$26.9

million and

$29.5

million have been reclassified from cost of sales to a separate line item below gross profit in the accompanying statements of operations for the years ended

December 31, 2019

and

2018,

respectively. Also during the

fourth

quarter of

2019,

$0.1

million and

$2.7

December 31, 2019

and

2018,

respectively. These changes in presentation are consistent with that of our peers.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

not

readily apparent from other sources. Actual results

may

differ from these estimates under different assumptions or conditions.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash Equivalents

- Cash equivalents include short-term investments in money market funds and certificates of deposit with an original maturity of

three

months or less when purchased. Accounts at each U.S. institution are insured by the Federal Deposit Insurance Corporation ("FDIC") up to

$250,000.

Some of our balances are in excess of the FDIC insured limit.

Receivable [Policy Text Block]

Allowance for Doubtful Accounts

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Effects of Foreign Currency

– In non-U.S. locations that are

not

$0.1

million and

$2.7

million for the years ended

December 31, 2019

and

2018

, respectively, which were included in other (expense) income, net on the consolidated statements of operations.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentration of Credit Risk

12,

"Segments," for disclosures regarding significant customers.

We place temporary cash investments with quality financial institutions and commercial issuers of short-term paper and, by policy, limit the amount of credit exposure in any

one

financial instrument.

Inventory, Policy [Policy Text Block]

Inventories

Revenue from Contract with Customer [Policy Text Block]

Revenue Recognition

– On

January 1, 2018,

the Company adopted ASC

606

using the modified retrospective method applied to those contracts which were

not

completed as of

January 1, 2018.

The adoption of ASC

606

In accordance with ASC

606,

Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales.

Standard Product Warranty, Policy [Policy Text Block]

Product Warranties

– Warranties vary by product line and are competitive for the markets in which the Company operates. Warranties generally extend for

one

three

11,

"Accrued Expenses."

Product Returns [Policy Text Block]

Product Returns

– We estimate product returns, including product exchanges under warranty, based on historical experience. In general, the Company is

not

contractually obligated to accept returns except for defective product or in instances where the product does

not

meet the Company's product specifications. However, the Company

may

be granted if the market price of the product declines after shipment. Distributors

may

Goodwill and Intangible Assets, Intangible Assets, Indefinite-Lived, Policy [Policy Text Block]

Goodwill and Identifiable Intangible Assets

– Goodwill represents the excess of the aggregate of the following (

) consideration transferred, (

) the fair value of any noncontrolling interest in the acquiree and, (

years, on a straight-line basis to their estimated residual values and periodically review them for impairment. Total identifiable intangible assets comprise

15.4%

and

14.1%

2019

and

2018

, respectively, of our consolidated total assets.

We use the acquisition method of accounting for all business combinations and do

not

amortize goodwill or intangible assets with indefinite useful lives. Goodwill and intangible assets with indefinite useful lives are tested for possible impairment annually during the

fourth

quarter of each fiscal year or more frequently if events or changes in circumstances indicate that the asset might be impaired.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Impairment and Disposal of Long-Lived Assets

"Goodwill and Other Intangible Assets," for additional details.

Depreciation, Depletion, and Amortization [Policy Text Block]

Depreciation

rom

years for buildings and leasehold improvements, and from

ars for machinery and equipment.

Income Tax, Policy [Policy Text Block]

Income Taxes

“Income Taxes”.

We record net deferred tax assets to the extent we believe these assets will more-likely-than-

not

We establish liabilities for tax contingencies when, despite the belief that our tax return positions are fully supported, it is more likely than

not

that certain positions

may

be challenged and

may

not

Earnings Per Share, Policy [Policy Text Block]

(Loss) Earnings per Share

– We utilize the

two

-class method to report our (loss) earnings per share. The

two

greater than dividends paid to Class A common shares, resulting in the

two

potential common shares outstanding during the years ended

December 31, 2019

and

2018

which would have had a dilutive effect on (loss) earnings per share.

The (loss) earnings and weighted average shares outstanding used in the computation of basic and diluted (loss) earnings per share are as follows:

	Year Ended December 31,
	2019			2018
Numerator:
Net (loss) earnings	$	(8,743	)	$	20,709
Less dividends declared:
Class A		518			522
Class B		2,834			2,796
Undistributed (loss) earnings	$	(12,095	)	$	17,391

Undistributed (loss) earnings allocation - basic and diluted:
Class A undistributed (loss) earnings	$	(2,049	)	$	2,999
Class B undistributed (loss) earnings		(10,046	)		14,392
Total undistributed (loss) earnings	$	(12,095	)	$	17,391

Net (loss) earnings allocation - basic and diluted:
Class A net (loss) earnings	$	(1,531	)	$	3,521
Class B net (loss) earnings		(7,212	)		17,188
Net (loss) earnings	$	(8,743	)	$	20,709

Denominator:
Weighted average shares outstanding:
Class A - basic and diluted		2,167			2,175
Class B - basic and diluted		10,117			9,939

Net (loss) earnings per share:
Class A - basic and diluted	$	(0.71	)	$	1.62
Class B - basic and diluted	$	(0.71	)	$	1.73

Research and Development Expense, Policy [Policy Text Block]

Research and Development ("R&D")

December 31, 2019

and

2018

amounted to

$26.9

million and

$29.5

million, respectively.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value Measurements

three

-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers are defined as follows:

Level

- Observable inputs such as quoted market prices in active markets

Level

- Inputs other than quoted prices in active markets that are either directly or indirectly observable

Level

- Unobservable inputs about which little or

market data exists, therefore requiring an entity to develop its own assumptions

"Fair Value Measurements," for additional disclosures related to fair value measurements.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards

Recently Adopted Accounting Standards

February 2016,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)

2016

02,

Leases (Topic

842

) (“ASU

2016

02”

)

December 15, 2018.

The amendments also require certain quantitative and qualitative disclosures about leasing arrangements.

The Company adopted ASU

2016

02,

as amended, effective

January 1, 2019

using the modified retrospective approach. In connection with the adoption, we elected to utilize the Comparatives Under

840

Option whereby the Company will continue to present prior period financial statements and disclosures under ASC

840.

In addition, we elected the transition package of

three

not

apply the recognition requirements of this standard to short-term leases (i.e. leases with terms of

Adoption of the new standard resulted in the recording of right-of-use assets in the amount of

$20.7

million and lease liabilities related to our operating leases in the amount of

$21.0

million on our consolidated balance sheet as of

January 1, 2019.

The standard did

not

materially affect the Company’s consolidated net earnings or have any impact on cash flows. See Note

16,

Leases

, for Topic

842

disclosures in connection with the adoption of ASU

2016

02.

February 2018,

the FASB issued ASU

2018

02,

Income Statement – Reporting Comprehensive Income (Topic

220

): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

. This guidance allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act, which was enacted on

December 22, 2017.

This guidance is effective for all entities for fiscal years beginning after

December 15, 2018,

January 1, 2019.

In accordance with this guidance, the Company reclassified

$0.5

million of stranded tax effects from accumulated other comprehensive income to retained earnings within the equity section of the consolidated balance sheet as of

January 1, 2019.

The adoption of this guidance did

not

have a material impact on the Company’s consolidated financial statements.

May 2018,

the FASB issued ASU

2018

07,

Compensation – Stock Compensation (Topic

718

): Improvements to Nonemployee Share-Based Payment Accounting

December 15, 2018,

including interim periods within that year. This guidance was adopted by the Company effective

January 1, 2019

and did

not

have a material impact on the Company’s consolidated financial statements.

January 2017,

the FASB issued ASU

2017

04,

Intangibles-Goodwill and Other (Topic

350

): Simplifying the Test for Goodwill Impairment

(“ASU

2017

04”

). ASU

2017

simplifies how an entity is required to test goodwill for impairment by eliminating Step

from the goodwill impairment test. Early adoption is permitted for interim and annual goodwill impairment tests performed on testing dates after

January 1, 2017.

The Company elected to early adopt ASU

2017

effective

July 1, 2019,

and accounted for the goodwill impairment charge discussed in

Note

under this guidance.

May 2014,

the FASB issued ASU

No.

2014

09,

Revenue from Contracts with Customers (Topic

606

)

("ASU

2014

09"

), which amends the existing accounting standards for revenue recognition. ASU

2014

09,

the "new revenue standards" or "ASC

606"

). We adopted the guidance under the new revenue standards effective

January 1, 2018

using the modified retrospective approach by recognizing the cumulative effect of initially applying the new standard as an increase to the opening balance of retained earnings.

five

In connection with the modified retrospective application of the new revenue standards, we recorded an adjustment to increase retained earnings by

$3.4

million upon the

January 1, 2018

adoption date. Apart from this adjustment and the inclusion of additional required disclosures in Note

the adoption of the new revenue standards did

not

have a material impact on the Company's consolidated financial statements.

January 2016,

the FASB issued ASU

2016

01,

Financial Instruments-Overall (Subtopic

825

): Recognition and Measurement of Financial Assets and Financial Liabilities

December 15, 2017.

We adopted this guidance on

January 1, 2018.

The adoption of this guidance did

not

have a material impact on the Company's consolidated financial statements.

August 2016,

the FASB issued ASU

2016

15,

Statement of Cash Flows (Topic

230

): Classification of Certain Cash Receipts and Cash Payments

December 31, 2018

, including interim reporting periods within those annual reporting periods, and should be applied retrospectively to all periods presented. This guidance was adopted by the Company effective

January 1, 2018

and it did

not

have any impact on the Company's consolidated statement of cash flows in the periods presented.

October 2016,

the FASB issued ASU

2016

16,

Income Taxes (Topic

740

): Intra-Entity Transfers of Assets Other Than Inventory

December 15, 2017,

January 1, 2018

and it did

not

have a material impact on the Company's consolidated financial position or consolidated results of operations.

January 2017,

the FASB issued ASU

2017

01,

Business Combinations (Topic

805

): Clarifying the Definition of a Business

("ASU

2017

01"

2017

provides a framework that gives entities a basis for making reasonable judgments about whether a transaction involves an asset or a business. The Company adopted ASU

2017

January 1, 2018.

March 2017,

the FASB issued ASU

2017

07,

Compensation – Retirement Benefits (Topic

715

): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

("ASU

2017

07"

). This guidance requires that an employer disaggregate the service cost component from the other components of net benefit cost. ASU

2017

January 1, 2018

and elected to apply the practical expedient and use the amounts disclosed in Note

to the financial statements included in the Company's Annual Report on Form

-K for the year ended

December 31, 2018

as the basis for applying the retrospective application required by the standard. The amounts reclassified within the statement of operations for the year ended

December 31, 2018

were

not

material.

May 2017,

the FASB issued ASU

2017

09,

Compensation – Stock Compensation (Topic

718

): Scope of Modification Accounting ("ASU

2017

09"

)

. This update provides guidance about which changes to the terms or conditions of a share-based payment require an entity to apply modification accounting in Topic

718.

This guidance is effective for annual periods, and interim periods within those annual periods, beginning after

December 15, 2017.

The Company adopted ASU

2017

January 1, 2018,

and the guidance within this update will be applied to any future award modifications.

Accounting Standards Issued But

Not

Yet Adopted

June 2016,

the FASB issued ASU

No.

2016

13,

Financial Instruments – Credit Losses (Topic

326

): Measurement of Credit Losses on Financial Instruments (“ASU

2016

13”

December 15, 2022,

with early adoption permitted. Management is currently assessing the impact of ASU

2016

13,

but it is

not

expected to have a material impact on the Company’s consolidated financial statements.

August 2018,

the FASB issued ASU

2018

13,

Fair Value Measurement (Topic

820

): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

December 15, 2019.

Early adoption is permitted for any removed or modified disclosures. The Company is currently assessing the impact of adopting the updated provisions, but it is

not

expected to have a material impact on the Company's consolidated financial statements.

August 2018,

the FASB issued ASU

2018

14,

Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic

715

): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans ("ASU

2018

14"

)

. This guidance removes certain disclosures that are

not

considered cost beneficial, clarifies certain required disclosures and added additional disclosures. The standard is effective for fiscal years ending after

December 15, 2020.

The amendments in ASU

2018

would need to be applied on a retrospective basis. The Company is currently assessing the impact the new guidance will have on our disclosures.

August 2018,

the FASB issued ASU

2018

15,

Intangibles – Goodwill and Other-Internal-Use Software (Subtopic

350

): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Cost

December 15, 2019,

and early adoption is permitted. The Company is currently evaluating the impacts that adoption of this ASU will have on its consolidated financial statements.

December 2019,

the FASB issued ASU

2019

12,

Simplifying the Accounting for Income Taxes ("ASU

2019

12"

)

, which modifies ASC

740

to reduce complexity while maintaining or improving the usefulness of the information provided to users of financial statements. ASU

2019

is effective for the Company for interim and annual reporting periods beginning after

December 15, 2021.

The Company is currently assessing the impact of ASU

2019

12,

but it is

not

expected to have a material impact on the Company’s consolidated financial statements.

Note 1 - Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Year Ended December 31,
	2019			2018
Numerator:
Net (loss) earnings	$	(8,743	)	$	20,709
Less dividends declared:
Class A		518			522
Class B		2,834			2,796
Undistributed (loss) earnings	$	(12,095	)	$	17,391

Undistributed (loss) earnings allocation - basic and diluted:
Class A undistributed (loss) earnings	$	(2,049	)	$	2,999
Class B undistributed (loss) earnings		(10,046	)		14,392
Total undistributed (loss) earnings	$	(12,095	)	$	17,391

Net (loss) earnings allocation - basic and diluted:
Class A net (loss) earnings	$	(1,531	)	$	3,521
Class B net (loss) earnings		(7,212	)		17,188
Net (loss) earnings	$	(8,743	)	$	20,709

Denominator:
Weighted average shares outstanding:
Class A - basic and diluted		2,167			2,175
Class B - basic and diluted		10,117			9,939

Net (loss) earnings per share:
Class A - basic and diluted	$	(0.71	)	$	1.62
Class B - basic and diluted	$	(0.71	)	$	1.73

Note 2 - Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

				Measurement			Acquisition-Date
	Acquisition-Date			Period			Fair Values
	Fair Values			Adjustments			(As adjusted)
Cash and cash equivalents	$	193		$	-		$	193
Accounts receivable		3,404			-			3,404
Inventories		4,686			-			4,686
Other current assets		101			-			101
Property, plant and equipment		81			-			81
Right-of-use asset		1,299			-			1,299
Intangible assets		-			16,000			16,000
Total identifiable assets		9,764			16,000			25,764

Accounts payable		(3,599	)		-			(3,599	)
Accrued expenses		(879	)		-			(879	)
Refund liability		(1,078	)		-			(1,078	)
Operating lease liability, current		(230	)		-			(230	)
Operating lease liability, long-term		(1,069	)		-			(1,069	)
Total liabilities assumed		(6,855	)		-			(6,855	)
Net identifiable assets acquired		2,909			16,000			18,909
Goodwill		29,091			(18,804	)		10,287
Net assets acquired	$	32,000		$	(2,804	)	$	29,196


Cash paid		32,000			(2,804	)		29,196
Fair value of consideration transferred	$	32,000		$	(2,804	)	$	29,196

Business Acquisition, Pro Forma Information [Table Text Block]

	Year Ended
	December 31,
	2019			2018
Revenue	$	522,128		$	588,425
Net earnings		(7,715	)		25,232
Earnings per Class A common share - basic and diluted		(0.63	)		1.98
Earnings per Class B common share - basic and diluted		(0.63	)		2.11

Note 3 - Revenue (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Disaggregation of Revenue [Table Text Block]

	Year Ended December 31, 2019
	Cinch Connectivity		Power Solutions		Magnetic
	Solutions		and Protection		Solutions		Consolidated

By Product Group:
North America	$	128,096	$	93,540	$	34,408	$	256,044
Europe		33,099		41,016		7,507		81,622
Asia		11,153		28,972		114,621		154,746
	$	172,348	$	163,528	$	156,536	$	492,412

By Sales Channel:
Direct to customer	$	113,115	$	110,587	$	132,911	$	356,613
Through distribution		59,233		52,941		23,625		135,799
	$	172,348	$	163,528	$	156,536	$	492,412

	Year Ended December 31, 2018
	Cinch Connectivity		Power Solutions		Magnetic
	Solutions		and Protection		Solutions		Consolidated

By Product Group:
North America	$	135,454	$	98,432	$	37,805	$	271,691
Europe		34,130		45,556		9,604		89,290
Asia		17,140		32,065		137,998		187,203
	$	186,724	$	176,053	$	185,407	$	548,184

By Sales Channel:
Direct to customer	$	120,333	$	120,787	$	157,539	$	398,659
Through distribution		66,391		55,266		27,868		149,525
	$	186,724	$	176,053	$	185,407	$	548,184

Contract with Customer, Asset and Liability [Table Text Block]

	December 31,		January 1,
	2019		2019

Contract assets - current (unbilled receivable)	$	16,318	$	15,799
Contract liabilities - current (deferred revenue)	$	653	$	1,036

	Year Ended
	December 31, 2019
Balance, January 1	$	1,036
New advance payments received		3,204
Recognized as revenue during period		(3,598	)
Currency translation		11
Balance, December 31	$	653

Note 4 - Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Goodwill [Table Text Block]

	Segment Structure Prior to October 1, 2019
	Total			North America			Asia			Europe

Balance at January 1, 2018:
Goodwill, gross	$	148,768		$	63,364		$	54,508		$	30,896
Accumulated impairment charges		(128,591	)		(54,474	)		(54,508	)		(19,609	)
Goodwill, net		20,177			8,890			-			11,287

Goodwill allocation related to acquisition		1,290			-			-			1,290
Foreign currency translation		(1,650	)		-			-			(1,650	)

Balance at December 31, 2018:
Goodwill, gross		148,408			63,364			54,508			30,536
Accumulated impairment charges		(128,591	)		(54,473	)		(54,508	)		(19,610	)
Goodwill, net		19,817			8,891			-			10,926

Impairment charge		(8,891	)		(8,891	)		-			-
Foreign currency translation		(122	)		-			-			(122	)
Measurement period adjustment		(26	)		-			-			(26	)

Balance at September 30, 2019:
Goodwill, gross		148,260			63,364			54,508			30,388
Accumulated impairment charges		(137,482	)		(63,364	)		(54,508	)		(19,610	)
Goodwill, net	$	10,778		$	-		$	-		$	10,778

	Segment Structure Effective October 1, 2019
	Total		Cinch Connectivity Solutions		Power Solutions & Protection		Magnetic Solutions
Balance at October 1, 2019:
Goodwill, gross (reallocation)	$	10,778	$	6,467	$	4,311	$	-
Goodwill, net		10,778		6,467		4,311		-

Goodwill allocation related to acquisition		10,287		-		10,287		-
Foreign currency translation		928		712		216		-

Balance at December 31, 2019:
Goodwill, gross		21,993		7,179		14,814		-
Goodwill, net	$	21,993	$	7,179	$	14,814	$	-

Schedule of Excess of Estimated Fair Values Over Carrying Value, Including Goodwill [Table Text Block]

Reporting Unit	% by Which Estimated Fair Value Exceeds Carrying Value
Connectivity Europe	138.8		%
Power Europe		16.4	%

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	December 31, 2019						December 31, 2018
	Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount

Patents, licenses and technology	$	38,885	$	21,757	$	17,128	$	38,845	$	18,281	$	20,564
Customer relationships		55,656		17,231		38,425		44,588		14,193		30,395
Non-compete agreements		2,701		2,701		-		2,683		2,683		-
Trademarks		16,852		40		16,812		11,770		40		11,730

	$	114,094	$	41,729	$	72,365	$	97,886	$	35,197	$	62,689

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Year Ended December 31,	Amortization Expense

2020	$	7,112
2021		7,108
2022		5,735
2023		4,473
2024		4,412

Note 5 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill [Member]

Notes Tables

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	Goodwill Impairment Analysis
	Key Assumptions
	2019 - Interim			2018 - Annual

Income Approach - Discounted Cash Flows:
Revenue 5-year compound annual growth rate (CAGR)		1.5	%		2.6	%
EBITDA margins (next 12 month forecast)		3.9	%		7.6	%
Cost of equity capital		15.4	%		14.2	%
Cost of debt capital		4.0	%		3.7	%
Weighted average cost of capital		14.0	%		13.0	%

Market Approach - Multiples of Guideline Companies:
Net operating revenue multiples used		0.3			0.4
Operating EBITDA multiples used		7.0 - 8.0			5.1 - 5.7
Invested capital control premium		25	%		25	%

Weighting of Valuation Methods:
Income Approach - Discounted Cash Flows		75	%		75	%
Market Approach - Multiples of Guideline Companies		25	%		25	%

Note 7 - Inventories (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	December 31,
	2019		2018
Raw materials	$	47,936	$	63,348
Work in progress		27,065		21,441
Finished goods		32,275		35,279
Inventories	$	107,276	$	120,068

Note 8 - Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Property, Plant and Equipment [Table Text Block]

	December 31,
	2019			2018
Land	$	1,431		$	2,251
Buildings and improvements		29,722			30,119
Machinery and equipment		132,134			126,747
Construction in progress		5,090			4,687
		168,377			163,804
Accumulated depreciation		(126,434	)		(119,872	)
Property, plant and equipment, net	$	41,943		$	43,932

Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	Year Ended December 31,
	2019			2018
Liability for uncertain tax positions - January 1	$	28,951		$	30,430
Additions based on tax positions related to the current year		1,738			1,703
Translation adjustment		(211	)		(657	)
Settlement/expiration of statutes of limitations		(1,417	)		(2,525	)
Liability for uncertain tax positions - December 31	$	29,061		$	28,951

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2019			2018
Current:
Federal	$	(215	)	$	(3,517	)
State		141			152
Foreign		3,687			3,782
		3,613			417
Deferred:
Federal		(2,222	)		2,895
State		(135	)		196
Foreign		185			(601	)
		(2,172	)		2,490

	$	1,441		$	2,907

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2019						2018
	$			%			$			%
Tax (benefit) provision computed at the federal statutory rate	$	(1,534	)		21	%	$	4,959			21	%
Increase (decrease) in taxes resulting from:
Different tax rates applicable to foreign operations		2,978			(41	%)		1,231			5	%
Increase in (reversal of) liability for uncertain tax positions - net		320			(4	%)		(822	)		(3	%)
Impact of U.S. Tax Reform		-			0	%		(2,628	)		(11	%)
Research and experimentation and foreign tax credits		(907	)		12	%		(300	)		(1	%)
State taxes, net of federal benefit		(54	)		1	%		322			1	%
SERP/COLI and restricted stock income		(547	)		7	%		195			1	%
Impairment of goodwill		1,522			(21	%)		-			0	%
Other, including under/(over) accruals, unrealized foreign exchange gains and amortization of purchase accounting intangibles		(337	)		5	%		(50	)		0	%
Tax provision computed at the Company's effective tax rate	$	1,441			(20	%)	$	2,907			12	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2019		2018
	Tax Effect		Tax Effect

Deferred tax assets:
State tax credits	$	1,046	$	1,000
Unfunded pension liability		1,102		605
Reserves and accruals		2,721		2,483
Federal, state and foreign net operating loss and credit carryforwards		8,042		8,370
Depreciation		686		850
Amortization		698		-
Lease accounting		3,961		-
Other accruals		5,079		5,641
Total deferred tax assets		23,335		18,949
Deferred tax liabilities:
Depreciation		1,901		1,666
Amortization		6,973		7,930
Lease accounting		3,871		-
Other accruals		370		893
Total deferred tax liabilities		13,115		10,489
Valuation allowance		8,216		9,200
Net deferred tax assets/(liabilities)	$	2,004	$	(740	)

Note 10 - Debt (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Maturities of Long-term Debt [Table Text Block]

2020	$	5,948	(1)
2021		5,948
2022		133,118
Total long-term debt		145,014
Less: Current maturities of long-term debt		(5,948	)
Noncurrent portion of long-term debt	$	139,066

Note 11 - Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Accrued Liabilities [Table Text Block]

	December 31,
	2019		2018
Sales commissions	$	2,542	$	2,609
Subcontracting labor		990		1,550
Salaries, bonuses and related benefits		14,715		18,275
Warranty accrual		1,576		1,078
Other		7,095		8,778
	$	26,918	$	32,290

Note 12 - Segments (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Year Ended December 31, 2019
	Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Net sales	$	172,348		$	163,528		$	156,536		$	-		$	492,412
Gross Profit		44,417			32,846			34,350			(916	)		110,697
Gross Profit %		25.8	%		20.1	%		21.9	%		nm			22.5	%
Total Assets		145,344			168,422			89,463			65,688			468,917
Capital Expenditures		2,934			4,570			2,387			-			9,891
Depreciation and Amortization Expense		6,021			7,858			2,592			-			16,471

	Year Ended December 31, 2018
	Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Net sales	$	186,724		$	176,053		$	185,407		$	-		$	548,184
Gross Profit		55,092			39,976			46,467			(2,278	)		139,257
Gross Profit %		29.5	%		22.7	%		25.1	%		nm			25.4	%
Total Assets		140,240			171,165			119,573			12,546			443,524
Capital Expenditures		5,004			3,661			2,929			-			11,594
Depreciation and Amortization Expense		6,269			9,225			2,713			-			18,207

Revenue from External Customers by Geographic Areas [Table Text Block]

	Year Ended December 31,
	2019		2018
Net Sales by Geographic Location:

United States	$	256,044	$	271,691
Macao		154,745		187,204
United Kingdom		24,877		26,340
Slovakia		22,705		24,123
Germany		14,855		15,298
Switzerland		10,654		13,279
All other foreign countries		8,532		10,249
Consolidated net sales	$	492,412	$	548,184

Net Sales by Major Product Line:

Connectivity solutions	$	172,348	$	186,724
Magnetic solutions		156,536		185,407
Power solutions and protection		163,528		176,053
Consolidated net sales	$	492,412	$	548,184

Long-lived Assets by Geographic Areas [Table Text Block]

	December 31,
	2019		2018
Long-lived Assets by Geographic Location:

United States	$	27,377	$	27,505
People's Republic of China (PRC)		30,245		29,563
Slovakia		5,726		6,475
Switzerland		2,339		3,023
United Kingdom		2,053		2,330
All other foreign countries		1,123		1,117
Consolidated long-lived assets	$	68,863	$	70,013

Note 13 - Retirement Fund and Profit Sharing Plan (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Net Benefit Costs [Table Text Block]

	Year Ended December 31,
	2019		2018

Service Cost	$	576	$	732
Interest Cost		739		664
Net amortization		192		443
Net periodic benefit cost	$	1,507	$	1,839

Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]

	Year Ended December 31,
	2019			2018
Fair value of plan assets, January 1	$	-		$	-
Company contributions		430			325
Benefits paid		(430	)		(325	)
Fair value of plan assets, December 31	$	-		$	-
Benefit obligation, January 1	$	18,676		$	19,134
Service cost		576			732
Interest cost		739			664
Benefits paid		(430	)		(325	)
Plan amendments		-			39
Actuarial (gains) losses		1,980			(1,568	)
Benefit obligation, December 31		21,541			18,676
Underfunded status, December 31	$	(21,541	)	$	(18,676	)

Schedule of Expected Benefit Payments [Table Text Block]

Year Ending
December 31,

2020	$	662
2021		890
2022		893
2023		932
2024		968
2025 - 2029		5,432

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

	December 31,
	2019		2018
Prior service cost	$	738	$	918
Net loss		1,965		1,977
	$	2,703	$	2,895

Defined Benefit Plan, Assumptions [Table Text Block]

	Year Ended December 31,
	2019			2018
Net periodic benefit cost:
Discount rate		4.00	%		3.50	%
Rate of compensation increase		2.50	%		3.00	%
Benefit obligation:
Discount rate		3.00	%		4.00	%
Rate of compensation increase		2.50	%		2.50	%

Note 14 - Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

					Weighted Average
Restricted Stock			Weighted Average		Remaining
Awards	Shares		Award Price		Contractual Term (Years)

Outstanding at January 1, 2019		527,900	$	24.37		3.5 years
Granted		70,000		20.80
Vested		117,850		23.58
Forfeited		34,750		25.06
Outstanding at December 31, 2019		445,300	$	23.96		3.4 years

Note 16 - Leases (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Lease, Cost [Table Text Block]

	Year Ended
	December 31, 2019
Amortization of ROU assets - finance leases	$	134
Interest on lease liabilities - finance leases		48
Operating lease cost (cost resulting from lease payments)		7,897
Short-term lease cost		102
Variable lease cost (cost excluded from lease payments)		256
Sublease income		-
Total lease cost	$	8,437

	December 31, 2019
Weighted-Average Remaining Lease Term:
Operating leases (in years)		3.36
Finance leases (in years)		4.86

Weighted-Average Discount Rate:
Operating leases		6.0	%
Finance leases		6.4	%

Leases, Supplemental Cash Flow Information [Table Text Block]

	Year Ended
	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,840
Operating cash flows from finance leases		48
Finance cash flows from finance leases		117
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		24,494
Finance leases		9

Lease, Supplemental Balance Sheet Information [Table Text Block]

	December 31, 2019
Operating Leases:
Operating lease right-of-use assets	$	18,504
Operating lease liability, current		7,377
Operating lease liability, long-term		11,751
Total operating lease liabilities		19,128

Finance Leases:
Property, plant and equipment, gross	$	882
Accumulated depreciation		(262	)
Property, plant and equipment, net		620
Other current liabilities		121
Other long-term liabilities		512
Total finance lease liabilities	$	633

Lessee, Operating and Financing Lease Liability Maturity [Table Text Block]

Year Ending	Operating			Finance
December 31,	Leases			Leases
2020	$	7,217		$	232
2021		6,126			232
2022		4,190			232
2023		2,145			232
2024		578			218
Thereafter		544			141
Total undiscounted cash flows		20,800			1,287
Less imputed interest		(1,672	)		(654	)
Present value of lease liabilities	$	19,128		$	633

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Year Ending	Operating
December 31,	Leases
2019	$	7,363
2020		6,017
2021		4,967
2022		3,338
2023		1,194
Thereafter		442
	$	23,321

Note 18 - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	December 31,
	2019			2018

Foreign currency translation adjustment	$	(20,032	)	$	(22,635	)
Unrealized holding gain on available-for-sale securities, net of taxes of $0 and $0 as of December 31, 2019 and 2018		12			12
Unfunded SERP liability, net of taxes of ($639) and ($680) as of December 31, 2019 and 2018		(4,045	)		(2,215	)

Accumulated other comprehensive loss	$	(24,065	)	$	(24,838	)

Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component [Table Text Block]

			Unrealized Holding
	Foreign Currency		Gains on
	Translation		Available-for-		Unfunded
	Adjustment		Sale Securities		SERP Liability			Total

Balance at January 1, 2018	$	(16,537)	$	145	$	(3,233)		$	(19,625)
Other comprehensive income (loss) before reclassifications		(6,098)		37		679			(5,382)
Amounts reclassified from accumulated other comprehensive income (loss)		-		(170)		339	(a)		169
Net current period other comprehensive income (loss)		(6,098)		(133)		1,018			(5,213)

Balance at December 31, 2018		(22,635)		12		(2,215)			(24,838)

Other comprehensive income (loss) before reclassifications		2,603		-		(1,492)			1,111
Amounts reclassified from accumulated other comprehensive income (loss)		-		-		125	(a)		125
Effect of adoption of ASU 2018-02 (Topic 220)		-		-		(463)			(463)
Net current period other comprehensive income (loss)		2,603		-		(1,830)			773

Balance at December 31, 2019	$	(20,032)	$	12	$	(4,045)		$	(24,065)

Note 1 - Description of Business and Summary of Significant Accounting Policies (Details Textual) - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
	Jan. 01, 2019	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Research and Development Expense, Total		$ 26,925	$ 29,487
Foreign Currency Transaction Gain (Loss), before Tax, Total		$ 110	$ 2,663
Intangible Assets, Percent of Total Assets		15.40%	14.10%
Excessive Dividend Rate of Class B Over Class A		5.00%
Excessive Undistributed Earnings Allocation Rate of Class B Over Class A		5.00%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		0	0
Operating Lease, Right-of-Use Asset		$ 18,504
Operating Lease, Liability, Total		19,128
Cumulative Effect of New Accounting Principle in Period of Adoption			3,497
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 463	$ 3,497
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset	$ 20,700
Operating Lease, Liability, Total	21,000
Accounting Standards Update 2018-02 [Member]
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect	$ 500
Accounting Standards Update 2014-09 [Member] \| Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption				$ 3,400
Minimum [Member]
Standard Product Warranty, Period		1 year
Finite-Lived Intangible Asset, Useful Life		1 year
Minimum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life		2 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life		3 years
Maximum [Member]
Standard Product Warranty, Period		3 years
Finite-Lived Intangible Asset, Useful Life		16 years
Maximum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life		33 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life		15 years

Note 1 - Description of Business and Summary of Significant Accounting Policies - Basic and Diluted Net Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net (loss) earnings	$ (8,743)	$ 20,709
Undistributed (loss) earnings	(12,095)	17,391
Common Class A [Member]
Net (loss) earnings	(1,531)	3,521
Less dividends declared	518	522
Undistributed (loss) earnings	$ (2,049)	$ 2,999
Weighted-average shares outstanding, basic and diluted (in shares)	2,167	2,175
Net earnings per share, basic and diluted (in dollars per share)	$ (0.71)	$ 1.62
Common Class B [Member]
Net (loss) earnings	$ (7,212)	$ 17,188
Less dividends declared	2,834	2,796
Undistributed (loss) earnings	$ (10,046)	$ 14,392
Weighted-average shares outstanding, basic and diluted (in shares)	10,117	9,939
Net earnings per share, basic and diluted (in dollars per share)	$ (0.71)	$ 1.73

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands			1 Months Ended	12 Months Ended
	Dec. 03, 2019	Oct. 01, 2018	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Business Combination, Acquisition Related Costs				$ 200	$ 100
CUI Power [Member]
Revenue from Contract with Customer, Including Assessed Tax			$ 32,000
Majority Products Business of CUI Power [Member]
Payments to Acquire Businesses, Gross	$ 32,000		$ 29,196
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				2,200
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual				400
Majority Products Business of CUI Power [Member] \| Trade Names [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	5,000
Majority Products Business of CUI Power [Member] \| Customer Relationships [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 11,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	13 years
BCMZ Precision Engineering Limited [Member]
Payments to Acquire Businesses, Gross		$ 2,600
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				1,000	500
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual				$ 100	$ 100

Note 2 - Acquisitions - Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		1 Months Ended	9 Months Ended
	Dec. 03, 2019	Dec. 31, 2019	Sep. 30, 2019	Oct. 01, 2019	Dec. 31, 2018	Jan. 01, 2018
Goodwill, Ending Balance		$ 21,993	$ 10,778	$ 10,778	$ 19,817	$ 20,177
Goodwill			$ (26)
Majority Products Business of CUI Power [Member]
Cash and cash equivalents	$ 193	193
Accounts receivable	3,404	3,404
Inventories	4,686	4,686
Other current assets	101	101
Property, plant and equipment	81	81
Right-of-use asset	1,299	1,299
Intangible assets		16,000
Intangible assets		16,000
Total identifiable assets	9,764	25,764
Total identifiable assets		16,000
Accounts payable	(3,599)	(3,599)
Accrued expenses	(879)	(879)
Refund liability	(1,078)	(1,078)
Operating lease liability, current	(230)	(230)
Operating lease liability, long-term	(1,069)	(1,069)
Total liabilities assumed	(6,855)	(6,855)
Net identifiable assets acquired	2,909	18,909
Net identifiable assets acquired		16,000
Goodwill, Ending Balance	29,091	10,287
Goodwill		(18,804)
Net assets acquired	32,000	29,196
Net assets acquired		(2,804)
Payments to Acquire Businesses, Gross	32,000	29,196
Cash paid		(2,804)
Fair value of consideration transferred	$ 32,000	29,196
Fair value of consideration transferred		$ (2,804)

Note 2 - Acquisitions - Proforma Results (Details) - Majority Products Business of CUI Power [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 522,128	$ 588,425
Net earnings	$ (7,715)	$ 25,232
Common Class A [Member]
Earnings per common share - basic and diluted (in dollars per share)	$ (0.63)	$ 1.98
Common Class B [Member]
Earnings per common share - basic and diluted (in dollars per share)	$ (0.63)	$ 2.11

Note 3 - Revenue (Details Textual) $ in Millions	Dec. 31, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Amount	$ 16.9
Revenue, Remaining Performance Obligation, Percentage	76.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Percentage	20.00%

Note 3 - Revenue - Disaggregation of Revenue by Product Group and Sales Channel (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net sales	$ 492,412	$ 548,184
Sales Channel, Directly to Consumer [Member]
Net sales	356,613	398,659
Sales Channel, Through Intermediary [Member]
Net sales	135,799	149,525
North America [Member]
Net sales	256,044	271,691
Europe [Member]
Net sales	81,622	89,290
Asia [Member]
Net sales	154,746	187,203
Connectivity Solutions [Member]
Net sales	172,348	186,724
Connectivity Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	113,115	120,333
Connectivity Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	59,233	66,391
Connectivity Solutions [Member] \| North America [Member]
Net sales	128,096	135,454
Connectivity Solutions [Member] \| Europe [Member]
Net sales	33,099	34,130
Connectivity Solutions [Member] \| Asia [Member]
Net sales	11,153	17,140
Power Solutions and Protection [Member]
Net sales	163,528	176,053
Power Solutions and Protection [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	110,587	120,787
Power Solutions and Protection [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	52,941	55,266
Power Solutions and Protection [Member] \| North America [Member]
Net sales	93,540	98,432
Power Solutions and Protection [Member] \| Europe [Member]
Net sales	41,016	45,556
Power Solutions and Protection [Member] \| Asia [Member]
Net sales	28,972	32,065
Magnetic Solutions [Member]
Net sales	156,536	185,407
Magnetic Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	132,911	157,539
Magnetic Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	23,625	27,868
Magnetic Solutions [Member] \| North America [Member]
Net sales	34,408	37,805
Magnetic Solutions [Member] \| Europe [Member]
Net sales	7,507	9,604
Magnetic Solutions [Member] \| Asia [Member]
Net sales	$ 114,621	$ 137,998

Note 3 - Revenue - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Contract assets - current (unbilled receivable)	$ 16,318	$ 15,799	$ 15,799
Contract liabilities - current (deferred revenue)	653	$ 1,036
Balance	1,036
New advance payments received	3,204
Recognized as revenue during period	(3,598)
Currency translation	11
Balance	$ 653

Note 4 - Goodwill and Other Intangible Assets (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Number of Reportable Segments				3
Goodwill, Impairment Loss			$ 8,891	$ 0	$ 0
Amortization of Intangible Assets, Total				6,400	$ 6,400
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)				$ 0
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life				1 year
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life				16 years
North America [Member]
Goodwill, Impairment Loss		$ 8,900	8,891
Europe [Member]
Goodwill, Impairment Loss	$ 0
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount		17.30%	17.30%

Note 4 - Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Oct. 01, 2019	Jan. 01, 2018
Goodwill, gross	$ 21,993	$ 148,260	$ 148,260	$ 21,993	$ 148,408	$ 10,778	$ 148,768
Accumulated impairment charges		(137,482)	(137,482)		(128,591)		(128,591)
Goodwill	21,993	10,778	10,778	21,993	19,817	10,778	20,177
Goodwill allocation related to acquisition	10,287				1,290
Foreign currency translation	928		(122)		(1,650)
Impairment charge			(8,891)	0	0
Measurement period adjustment			(26)
Goodwill, gross (reallocation)	21,993	148,260	148,260	21,993	148,408	10,778	148,768
Cinch Connectivity Solutions Segment [Member]
Goodwill, gross	7,179			7,179		6,467
Goodwill	7,179			7,179		6,467
Goodwill allocation related to acquisition
Foreign currency translation	712
Goodwill, gross (reallocation)	7,179			7,179		6,467
Power Solutions and Protection Segment [Member]
Goodwill, gross	14,814			14,814		4,311
Goodwill	14,814			14,814		4,311
Goodwill allocation related to acquisition	10,287
Foreign currency translation	216
Goodwill, gross (reallocation)	14,814			14,814		4,311
Magnetic Solutions Segment [Member]
Goodwill, gross
Goodwill
Goodwill allocation related to acquisition
Foreign currency translation
Goodwill, gross (reallocation)
North America [Member]
Goodwill, gross		63,364	63,364		63,364		63,364
Accumulated impairment charges		(63,364)	(63,364)		(54,473)		(54,474)
Goodwill					8,891		8,890
Goodwill allocation related to acquisition
Foreign currency translation
Impairment charge		(8,900)	(8,891)
Measurement period adjustment
Goodwill, gross (reallocation)		63,364	63,364		63,364		63,364
Asia [Member]
Goodwill, gross		54,508	54,508		54,508		54,508
Accumulated impairment charges		(54,508)	(54,508)		(54,508)		(54,508)
Goodwill
Goodwill allocation related to acquisition
Foreign currency translation
Impairment charge
Measurement period adjustment
Goodwill, gross (reallocation)		54,508	54,508		54,508		54,508
Europe [Member]
Goodwill, gross		30,388	30,388		30,536		30,896
Accumulated impairment charges		(19,610)	(19,610)		(19,610)		(19,609)
Goodwill		10,778	10,778		10,926		11,287
Goodwill allocation related to acquisition					1,290
Foreign currency translation			(122)		(1,650)
Impairment charge	$ 0
Measurement period adjustment			(26)
Goodwill, gross (reallocation)		$ 30,388	$ 30,388		$ 30,536		$ 30,896

Note 4 - Goodwill and Other Intangible Assets - Estimated Fair Values Over Carrying Value, Including Goodwill (Details) - Europe [Member]	Dec. 31, 2019	Sep. 30, 2019
% by Which Estimated Fair Value Exceeds Carrying Value		17.30%
Cinch Connectivity Solutions Segment [Member]
% by Which Estimated Fair Value Exceeds Carrying Value	138.80%
Power Solutions and Protection Segment [Member]
% by Which Estimated Fair Value Exceeds Carrying Value	16.40%

Note 4 - Goodwill and Other Intangible Assets - Components of Definite and Indefinite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Gross carrying amount	$ 114,094	$ 97,886
Accumulated amortization	41,729	35,197
Net carrying amount	72,365	62,689
Trademarks [Member]
Trademarks, gross	16,852	11,770
Trademarks, Accumulated amortization	40	40
Trademarks, Net carrying amount	16,812	11,730
Patents, Licenses and Technology [Member]
Gross carrying amount	38,885	38,845
Accumulated amortization	21,757	18,281
Net carrying amount	17,128	20,564
Customer Relationships [Member]
Gross carrying amount	55,656	44,588
Accumulated amortization	17,231	14,193
Net carrying amount	38,425	30,395
Noncompete Agreements [Member]
Gross carrying amount	2,701	2,683
Accumulated amortization	2,701	2,683
Net carrying amount

Note 4 - Goodwill and Other Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2019 USD ($)
2020	$ 7,112
2021	7,108
2022	5,735
2023	4,473
2024	$ 4,412

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Oct. 01, 2019	Jan. 01, 2018
Long-term Debt, Fair Value			$ 146,400	$ 117,900
Long-term Debt, Gross			143,700	114,200
Goodwill, Impairment Loss		$ 8,891	0	0
Goodwill, Ending Balance	$ 10,778	10,778	21,993	19,817	$ 10,778	$ 20,177
North America Reporting Unit [Member]
Goodwill, Impairment Loss	8,900
Goodwill, Impairment Loss, Net of Tax	8,500
Europe Reporting Unit [Member]
Goodwill, Ending Balance	$ 10,800	$ 10,800
Fair Value, Nonrecurring [Member]
Assets, Fair Value Disclosure			0	0
Investments Held in Rabbi Trust [Member]
Debt Securities, Available-for-sale, Total			$ 1,100	$ 1,400

Note 5 - Fair Value Measurements - Fair Value Estimate Calculation (Details) - North America Reporting Unit [Member]	Dec. 31, 2019	Dec. 31, 2018
Valuation Technique, Discounted Cash Flow [Member]
Valuation Method Allocation Of Use Percentage	75.00%	75.00%
Valuation Technique, Discounted Cash Flow [Member] \| Measurement Input, Long-term Revenue Growth Rate [Member]
Goodwill Impairment, Measurement Input	0.015	0.026
Valuation Technique, Discounted Cash Flow [Member] \| Measurement Input, EBITDA Margins [Member]
Goodwill Impairment, Measurement Input	0.039	0.076
Valuation Technique, Discounted Cash Flow [Member] \| Measurement Input, Cost of Equity Capital [Member]
Goodwill Impairment, Measurement Input	0.154	0.142
Valuation Technique, Discounted Cash Flow [Member] \| Measurement Input, Cost of Debt [Member]
Goodwill Impairment, Measurement Input	0.04	0.037
Valuation Technique, Discounted Cash Flow [Member] \| Measurement Input, Weighted Average Cost of Capital [Member]
Goodwill Impairment, Measurement Input	0.14	0.13
Valuation, Market Approach [Member]
Valuation Method Allocation Of Use Percentage	25.00%	25.00%
Valuation, Market Approach [Member] \| Measurement Input, Revenue Multiple [Member]
Goodwill Impairment, Measurement Input	0.3	0.4
Valuation, Market Approach [Member] \| Measurement Input, EBITDA Multiple [Member] \| Minimum [Member]
Goodwill Impairment, Measurement Input	7	5.1
Valuation, Market Approach [Member] \| Measurement Input, EBITDA Multiple [Member] \| Maximum [Member]
Goodwill Impairment, Measurement Input	8	5.7
Valuation, Market Approach [Member] \| Measurement Input, Invested Capital Control Premium [Member]
Goodwill Impairment, Measurement Input	0.25	0.25

Note 6 - Other Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Surrender Value, Fair Value Disclosure	$ 13,700	$ 11,600
Increase (Decrease) in Cash Surrender Value	2,400	(400)
Investments Held in Rabbi Trust [Member]
Debt Securities, Available-for-sale, Amortized Cost, Total	1,100	1,400
Debt Securities, Available-for-sale, Total	1,100	1,400
Supplemental Employee Retirement Plan [Member]
Defined Benefit Plan, Benefit Obligation, Ending Balance	21,541	18,676	$ 19,134
Investments, Fair Value Disclosure, Total	$ 14,700	$ 13,000

Note 7 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Raw materials	$ 47,936	$ 63,348
Work in progress	27,065	21,441
Finished goods	32,275	35,279
Inventories	$ 107,276	$ 120,068

Note 8 - Property, Plant and Equipment, Net (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Depreciation, Total	$ 10.0	$ 11.8

Note 8 - Property, Plant and Equipment, Net - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, plant and equipment, gross	$ 168,377	$ 163,804
Accumulated depreciation	(126,434)	(119,872)
Property, plant and equipment, net	41,943	43,932
Land [Member]
Property, plant and equipment, gross	1,431	2,251
Building and Building Improvements [Member]
Property, plant and equipment, gross	29,722	30,119
Machinery and Equipment [Member]
Property, plant and equipment, gross	132,134	126,747
Construction in Progress [Member]
Property, plant and equipment, gross	$ 5,090	$ 4,687

Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Unrecognized Tax Benefits, Ending Balance		$ 29,061	$ 28,951	$ 30,430
Liability for Uncertainty in Income Taxes, Current		2,200	1,400
Liability for Uncertainty in Income Taxes, Noncurrent		26,901	27,553
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations		1,400
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total		700	1,300
Income Tax Expense (Benefit) on Reversal of Interest and Penalties		700	300
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total		4,900	3,800
Income (Loss) from Continuing Operations before Income Taxes, Domestic		17,100	300
Income (Loss) from Continuing Operations before Income Taxes, Foreign		$ 9,800	$ 23,300
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%	21.00%
Deferred Tax Assets, Gross, Total		$ 23,335	$ 18,949
Deferred Tax Assets, Valuation Allowance, Total		8,216	9,200
Deferred Tax Assets, Operating Loss Carryforwards, Total		8,042	8,370
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount		200
Tax Cuts and Jobs Act, Incomplete Accounting, Transition Tax for Accumulated Foreign Earnings, Provisional Income Tax Expense				$ 18,100
Tax Cuts and Jobs Act, Measurement Period Adjustment, Income Tax Expense (Benefit)			(2,600)
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Income Tax Expense			15,500
Other Current Liabilities [Member]
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability, Total			$ 10,800
Foreign Tax Authority [Member]
Operating Loss Carryforwards, Total		29,600
Tax Credit Carryforward, Amount		300
Deferred Tax Assets, Gross, Total		7,100
Deferred Tax Assets, Valuation Allowance, Total		7,100
Foreign Tax Authority [Member] \| Capital Loss Carryforward [Member]
Tax Credit Carryforward, Amount		200
Federal and State and Local Authority [Member]
Operating Loss Carryforwards, Total		1,500
Deferred Tax Assets, Valuation Allowance, Total		$ 1,100
Bel Fuse Limited [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		12.00%
Array [Member] \| Federal and State and Local Authority [Member]
Operating Loss Carryforwards, Total		$ 800
Tax Credit Carryforward, Amount		2,100
Deferred Tax Assets, Operating Loss Carryforwards, Total		200
Tax Year 2008 [Member]
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations		1,000
Tax Year 2015 [Member]
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations		100
Tax Year 2017 [Member]
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations		$ 300
Forecast [Member]
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	$ 2,200
Forecast [Member] \| Tax Year 2009 [Member]
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	900
Forecast [Member] \| Tax Year 2016 [Member]
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	$ 1,300

Note 9 - Income Taxes - Liability for Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Liability for uncertain tax positions	$ 28,951	$ 30,430
Additions based on tax positions related to the current year	1,738	1,703
Translation adjustment	211	657
Settlement/expiration of statutes of limitations	(1,417)	(2,525)
Liability for uncertain tax positions	$ 29,061	$ 28,951

Note 9 - Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Federal, current	$ (215)	$ (3,517)
State, current	141	152
Foreign, current	3,687	3,782
Current	3,613	417
Federal, deferred	(2,222)	2,895
State, deferred	(135)	196
Foreign, deferred	185	(601)
Deferred	(2,172)	2,490
	$ 1,441	$ 2,907

Note 9 - Income Taxes - Reconciliation of Taxes on Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Tax provision computed at the federal statutory rate, amount	$ (1,534)	$ 4,959
Tax provision computed at the federal statutory rate, percent	21.00%	21.00%
Different tax rates applicable to foreign operations, amount	$ 2,978	$ 1,231
Different tax rates applicable to foreign operations, percent	(41.00%)	5.00%
Increase in (reversal of) liability for uncertain tax positions - net	$ 320	$ (822)
Increase in (reversal of) liability for uncertain tax positions - net, percent	(4.00%)	(3.00%)
Impact of U.S. Tax Reform, amount		$ (2,628)
Impact of U.S. Tax Reform, percent	0.00%	(11.00%)
Research and experimentation and foreign tax credits	$ (907)	$ (300)
Research and experimentation and foreign tax credits	12.00%	(1.00%)
State taxes, net of federal benefit, amount	$ (54)	$ 322
State taxes, net of federal benefit, percent	1.00%	1.00%
SERP/COLI and restricted stock income	$ (547)	$ 195
SERP/COLI and restricted stock income	7.00%	1.00%
Impairment of goodwill	$ 1,522
Impairment of goodwill	(21.00%)	0.00%
Other, including under/(over) accruals, unrealized foreign exchange gains and amortization of purchase accounting intangibles	$ (337)	$ (50)
Other, including under/(over) accruals, unrealized foreign exchange gains and amortization of purchase accounting intangibles	5.00%	0.00%
Tax provision computed at the Company's effective tax rate, amount	$ 1,441	$ 2,907
Tax provision computed at the Company's effective tax rate, percent	(20.00%)	12.00%

Note 9 - Income Taxes - Components of Deferred Income Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
State tax credits	$ 1,046	$ 1,000
Unfunded pension liability	1,102	605
Reserves and accruals	2,721	2,483
Federal, state and foreign net operating loss and credit carryforwards	8,042	8,370
Depreciation	686	850
Amortization	698
Lease accounting	3,961
Other accruals	5,079	5,641
Total deferred tax assets	23,335	18,949
Depreciation	1,901	1,666
Amortization	6,973	7,930
Lease accounting	3,871
Other accruals	370	893
Total deferred tax liabilities	13,115	10,489
Valuation allowance	8,216	9,200
Net deferred tax liabilities	$ 2,004
Net deferred tax assets		$ (740)

Note 10 - Debt (Details Textual) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Feb. 18, 2020

Dec. 11, 2017

Jun. 19, 2014

Mar. 31, 2016

Dec. 31, 2017

Dec. 31, 2019

Dec. 31, 2018

Long-term Debt, Total

$ 145,014

Amortization of Debt Issuance Costs

466

$ 531

Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months

^[1]

5,948

Credit and Security Agreement with KeyBank [Member]

Debt Issuance Costs, Net, Total

$ 5,800

$ 1,300

$ 1,800

Line of Credit Facility, Interest Rate at Period End

3.31%

4.31%

Effective LIBOR Rate

1.81%

2.56%

Interest Expense, Debt, Total

$ 5,400

$ 5,300

Debt Instrument, Term

5 years

Payments of Debt Issuance Costs

$ 1,800

$ 700

Amortization of Debt Issuance Costs

$ 500

$ 1,000

Line of Credit Facility, Percentage of Capital Stock of Foreign Subsidiaries Collateralized Security

65.00%

LIBOR Additional Rate

1.00%

Credit and Security Agreement with KeyBank [Member] | Term Loan [Member]

Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months

$ 5,900

Credit and Security Agreement with KeyBank [Member] | Subsequent Event [Member] | Term Loan [Member]

Repayments of Long-term Debt, Total

$ 8,200

Credit and Security Agreement with KeyBank [Member] | London Interbank Offered Rate (LIBOR) [Member]

Debt Instrument, Basis Spread on Variable Rate

1.50%

1.75%

Credit and Security Agreement with KeyBank [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]

Debt Instrument, Basis Spread on Variable Rate

1.375%

Credit and Security Agreement with KeyBank [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]

Debt Instrument, Basis Spread on Variable Rate

2.75%

Credit and Security Agreement with KeyBank [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]

Debt Instrument, Basis Spread on Variable Rate

0.50%

Credit and Security Agreement with KeyBank [Member] | LIBOR With Maturity of One Month [Member] | Minimum [Member]

Debt Instrument, Basis Spread on Variable Rate

0.375%

Credit and Security Agreement with KeyBank [Member] | LIBOR With Maturity of One Month [Member] | Maximum [Member]

Debt Instrument, Basis Spread on Variable Rate

1.75%

Credit and Security Agreement with KeyBank [Member] | Revolving Credit Facility [Member]

Line of Credit Facility, Remaining Borrowing Capacity

$ 43,000

$ 75,000

Line of Credit Facility, Maximum Borrowing Capacity

$ 75,000

$ 50,000

Credit and Security Agreement with KeyBank [Member] | Term Loan [Member]

Long-term Debt, Total

113,000

116,000

Long-term Line of Credit, Total

$ 32,000

$ 0

Debt Instrument, Face Amount

$ 125,000

145,000

Credit and Security Agreement with KeyBank [Member] | Delayed Draw Term Loan ("DDTL") [Member]

Debt Instrument, Face Amount

$ 70,000

[1]	The $5.9 million of scheduled principal payments for 2020 noted in the table above was paid in full on February 18, 2020, as part of the above-mentioned $8.2 million voluntary prepayment made in connection with the amendment to the Credit Agreement.

Note 10 - Debt - Scheduled Principal Payments (Details)
$ in Thousands

Dec. 31, 2019

USD ($)

Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months

$ 5,948

^[1]

2021

5,948

2022

133,118

Total long-term debt

145,014

Less: Current maturities of long-term debt

(5,948)

Noncurrent portion of long-term debt

$ 139,066

[1]	The $5.9 million of scheduled principal payments for 2020 noted in the table above was paid in full on February 18, 2020, as part of the above-mentioned $8.2 million voluntary prepayment made in connection with the amendment to the Credit Agreement.

Note 11 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Sales commissions	$ 2,542	$ 2,609
Subcontracting labor	990	1,550
Salaries, bonuses and related benefits	14,715	18,275
Warranty accrual	1,576	1,078
Other	7,095	8,778
	$ 26,918	$ 32,290

Note 12 - Segments (Details Textual) $ in Thousands	12 Months Ended
Note 12 - Segments (Details Textual) $ in Thousands	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Number of Industry in which Entity Operates	1
Number of Operating Segments	3
Number of Reportable Segments	3
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 492,412	$ 548,184
Asia [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 154,746	$ 187,203
Assets, Total [Member] \| Geographic Concentration Risk [Member] \| Asia [Member]
Concentration Risk, Percentage	30.50%
Revenue Benchmark [Member] \| Customer Concentration Risk [Member]
Concentration Risk, Percentage	10.20%	12.30%
Number of Customers	1	1
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 50,200	$ 67,700

Note 12 - Segments - Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net sales	$ 492,412	$ 548,184
Gross Profit	$ 110,697	$ 139,257
Gross Profit %	22.50%	25.40%
Total Assets	$ 468,917	$ 443,524
Capital Expenditures	9,891	11,594
Depreciation and amortization	16,471	18,207
Connectivity Solutions [Member]
Net sales	172,348	186,724
Gross Profit	$ 44,417	$ 55,092
Gross Profit %	25.80%	29.50%
Total Assets	$ 145,344	$ 140,240
Capital Expenditures	2,934	5,004
Depreciation and amortization	6,021	6,269
Power Solutions and Protection Segment [Member]
Net sales	163,528	176,053
Gross Profit	$ 32,846	$ 39,976
Gross Profit %	20.10%	22.70%
Total Assets	$ 168,422	$ 171,165
Capital Expenditures	4,570	3,661
Depreciation and amortization	7,858	9,225
Magnetic Solutions Segment [Member]
Net sales	156,536	185,407
Gross Profit	$ 34,350	$ 46,467
Gross Profit %	21.90%	25.10%
Total Assets	$ 89,463	$ 119,573
Capital Expenditures	2,387	2,929
Depreciation and amortization	2,592	2,713
Corporate Segment [Member]
Net sales
Gross Profit	(916)	(2,278)
Total Assets	65,688	12,546
Capital Expenditures
Depreciation and amortization

Note 12 - Segments - Net Sales to External Customers by Geographic Area and by Major Product Line (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net sales	$ 492,412	$ 548,184
Connectivity Solutions [Member]
Net sales	172,348	186,724
Magnetic Solutions [Member]
Net sales	156,536	185,407
Power Solutions and Protection [Member]
Net sales	163,528	176,053
UNITED STATES
Net sales	256,044	271,691
MACAU
Net sales	154,745	187,204
UNITED KINGDOM
Net sales	24,877	26,340
SLOVAKIA
Net sales	22,705	24,123
GERMANY
Net sales	14,855	15,298
SWITZERLAND
Net sales	10,654	13,279
All Other Foreign Countries [Member]
Net sales	$ 8,532	$ 10,249

Note 12 - Segments - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Long-lived assets	$ 68,863	$ 70,013
UNITED STATES
Long-lived assets	27,377	27,505
CHINA
Long-lived assets	30,245	29,563
SLOVAKIA
Long-lived assets	5,726	6,475
SWITZERLAND
Long-lived assets	2,339	3,023
UNITED KINGDOM
Long-lived assets	2,053	2,330
All Other Foreign Countries [Member]
Long-lived assets	$ 1,123	$ 1,117

Note 13 - Retirement Fund and Profit Sharing Plan (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Supplemental Employee Retirement Plan [Member]
Defined Benefit Plan, Percentage of Average Base Compensation Five Consecutive Years, Normal Retirement	40.00%
Defined Benefit Plan, Number of Monthly Payments	120
Percentage of Participant's Annual Base Salary Received by Beneficiary, One Year From Date of Death	100.00%
Percentage of Participant's Annual Base Salary Received by Beneficiary, Following Four Years From Date of Death	50.00%
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	$ 1,507	$ 1,839
Defined Benefit Plan, Accumulated Benefit Obligation	18,500	16,500
Investments, Fair Value Disclosure, Total	14,700	13,000
Defined Benefit Plan, Expected Amortization, Next Fiscal Year, Total	300
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	400
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 0
Bel Fuse Inc. Employees' Savings Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent Of Match, First 1% Employee Contribution	100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match, Next 5% Employee Contribution	50.00%
Defined Contribution Plan, Cost	$ 1,100	1,300
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class A [Member]
Shares Held in Plan \| shares	166,004
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class B [Member]
Shares Held in Plan \| shares	108,868
Retirement Fund Covering Hong Kong-based Employees [Member]
Defined Contribution Plan, Cost	$ 300	$ 300
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	5.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	7.00%
Retirement Fund Covering Hong Kong-based Employees [Member] \| Minimum [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	5.00%
Retirement Fund Covering Hong Kong-based Employees [Member] \| Common Class A [Member]
Shares Held in Plan \| shares	3,323
Retirement Fund Covering Hong Kong-based Employees [Member] \| Common Class B [Member]
Shares Held in Plan \| shares	17,342

Note 13 - Retirement Fund and Profit Sharing Plan - Components of SERP Expense (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Service cost	$ 576	$ 732
Interest cost	739	664
Net amortization	192	443
Net periodic benefit cost	$ 1,507	$ 1,839

Note 13 - Retirement Fund and Profit Sharing Plan - Changes in Plan Assets and Benefit Obligation (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair value of plan assets
Company contributions	430	325
Benefits paid	(430)	(325)
Fair value of plan assets	0
Benefit obligation	18,676	19,134
Service cost	576	732
Interest cost	739	664
Benefits paid	(430)	(325)
Plan amendments		39
Actuarial (gains) losses	1,980	(1,568)
Benefit obligation	21,541	18,676
Underfunded status, December 31	$ (21,541)	$ (18,676)

Note 13 - Retirement Fund and Profit Sharing Plan - Benefit Payments Expected to be Paid (Details) - Supplemental Employee Retirement Plan [Member] $ in Thousands	Dec. 31, 2019 USD ($)
2019	$ 662
2020	890
2021	893
2022	932
2023	968
2024 - 2028	$ 5,432

Note 13 - Retirement Fund and Profit Sharing Plan - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Prior service cost	$ 738	$ 918
Net loss	1,965	1,977
	$ 2,703	$ 2,895

Note 13 - Retirement Fund and Profit Sharing Plan - Weighted Average Assumptions Used in Determining the Periodic Net Cost and Benefit Obligation (Details) - Supplemental Employee Retirement Plan [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Discount rate, net periodic benefit cost	4.00%	3.50%
Rate of compensation increase, net periodic benefit cost	2.50%	3.00%
Discount rate, benefit obligation	3.00%	4.00%
Rate of compensation increase, benefit obligation	2.50%	2.50%

Note 14 - Share-based Compensation (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Restricted Stock [Member]
Share-based Payment Arrangement, Expense	$ 2.9	$ 2.8
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	$ 6.8
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	4 years 146 days
Restricted Stock [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Restricted Stock [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Restricted Stock [Member] \| Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Restricted Stock [Member] \| Share Based Compensation Award, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Common Class B [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	70,000	262,000
The 2011 Equity Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	323,850
The 2011 Equity Compensation Plan [Member] \| Common Class B [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	1,400,000

Note 14 - Share-based Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Outstanding, shares (in shares)	527,900
Outstanding, weighted average award price (in dollars per share)	$ 24.37
Outstanding, weighted average remaining contractual term (Year)	3 years 146 days	3 years 182 days
Granted, shares (in shares)	70,000
Granted, weighted average award price (in dollars per share)	$ 20.80
Vested, shares (in shares)	117,850
Vested, weighted average award price (in dollars per share)	$ 23.58
Forfeited, shares (in shares)	34,750
Forfeited, weighted average award price (in dollars per share)	$ 25.06
Outstanding, shares (in shares)	445,300	527,900
Outstanding, weighted average award price (in dollars per share)	$ 23.96	$ 24.37

Note 15 - Common Stock (Details Textual) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Percentage of Common Stock A Held By One Shareholder Without Any Common Stock B	21.50%
Dividends, Common Stock, Total	$ 3.4	$ 3.3
Common Class A [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.06	$ 0.06
Common Class B [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.07	$ 0.07

Note 16 - Leases (Details Textual)	12 Months Ended
Note 16 - Leases (Details Textual)	Dec. 31, 2019
Minimum [Member]
Operating and Finance Leases, Remaining Lease Term	1 year
Maximum [Member]
Operating and Finance Leases, Remaining Lease Term	8 years

Note 16 - Leases - Components of Lease Expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Amortization of ROU assets - finance leases	$ 134
Interest on lease liabilities - finance leases	48
Operating lease cost (cost resulting from lease payments)	7,897
Short-term lease cost	102
Variable lease cost (cost excluded from lease payments)	256
Sublease income
Total lease cost	$ 8,437
Operating leases (in years) (Year)	3 years 131 days
Finance leases (in years) (Year)	4 years 313 days
Operating leases	6.00%
Finance leases	6.40%

Note 16 - Leases - Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Operating cash flows from operating leases	$ 7,840
Operating cash flows from finance leases	48
Finance cash flows from finance leases	117
Operating leases	24,494
Finance leases	$ 9

Note 16 - Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Operating Lease, Right-of-Use Asset	$ 18,504
Operating lease liability, current	7,377
Operating lease liability, long-term	11,751
Total operating lease liabilities	19,128
Property, plant and equipment, gross	168,377	163,804
Accumulated depreciation	(126,434)	(119,872)
Property, plant and equipment, net	41,943	$ 43,932
Other current liabilities	121
Other long-term liabilities	512
Total finance lease liabilities	633
Assets under Finance Lease [Member]
Property, plant and equipment, gross	882
Accumulated depreciation	(262)
Property, plant and equipment, net	$ 620

Note 16 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Operating leases, 2020	$ 7,217
Finance leases, 2020	232
Operating leases, 2021	6,126
Finance leases, 2021	232
Operating leases, 2022	4,190
Finance leases, 2022	232
Operating leases, 2023	2,145
Finance leases, 2023	232
Operating leases, 2024	578
Finance leases, 2024	218
Operating leases, Thereafter	544
Finance leases, Thereafter	141
Operating leases, Total undiscounted cash flows	20,800
Finance leases, Total undiscounted cash flows	1,287
Operating leases, Less imputed interest	(1,672)
Finance leases, Less imputed interest	(654)
Operating Lease, Liability, Total	19,128
Finance leases, Present value of lease liabilities	633
Other Liabilities [Member]
Operating Lease, Liability, Total	$ 19,128

Note 16 - Leases - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2018 USD ($)
2019	$ 7,363
2020	6,017
2021	4,967
2022	3,338
2023	1,194
Thereafter	442
	$ 23,321

Note 17 - Commitments and Contingencies (Details Textual) $ in Millions					1 Months Ended		12 Months Ended
	Aug. 27, 2018 USD ($)	Aug. 27, 2018 CNY (¥)	Jul. 09, 2018 CNY (¥)	Jun. 29, 2018 EUR (€)	Apr. 30, 2018 USD ($)	Apr. 30, 2018 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2015 USD ($)
Purchase Commitment, Remaining Minimum Amount Committed							$ 42.5	$ 58.9
Arezzo Revenue Agency [Member]
Loss Contingency, Estimate of Possible Loss								12.0
Claim by Setec Netzwerke AG [Member]
Litigation Settlement, Amount Awarded to Other Party \| €				€ 75,000
Claim by DG Yu Shing Industrial Development Company Limited [Member] \| Donugguan Transpower Electric Products Co., Ltd. [Member]
Loss Contingency, Number of Defendants									3
Loss Contingency, Damages Sought, Value									$ 3.2
Loss Contingency, Damages Awarded, Value					$ 3.2	¥ 20,133,174
Claim Against Jimmei Entities [Member] \| Donugguan Transpower Electric Products Co., Ltd. [Member]
Litigation Settlement, Amount Awarded from Other Party	$ 3.2	¥ 20,430,203	¥ 20,133,174
Capital Addition Purchase Commitments [Member]
Long-term Purchase Commitment, Amount							$ 2.8	$ 5.2

Note 18 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Foreign currency translation adjustment	$ (20,032)	$ (22,635)
Unrealized holding gain on available-for-sale securities, net of taxes of $0 and $0 as of December 31, 2019 and 2018	12	12
Unfunded SERP liability, net of taxes of ($639) and ($680) as of December 31, 2019 and 2018	(4,045)	(2,215)
Accumulated other comprehensive loss	$ (24,065)	$ (24,838)

- Definition

Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.

+ References + Details

Note 18 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Unrealized loss on marketable securities arising during the period, tax	$ 0	$ 0
Change in unfunded SERP liability, tax	$ (639)	$ (680)

Note 18 - Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Balance

$ 176,470

$ 157,960

Other comprehensive income (loss):

1,236

(5,213)

Balance

168,051

176,470

Accumulated Foreign Currency Adjustment Attributable to Parent [Member]

Balance

(22,635)

(16,537)

Other comprehensive income (loss) before reclassifications

2,603

(6,098)

Amounts reclassified from accumulated other comprehensive income (loss)

Other comprehensive income (loss):

2,603

(6,098)

Effect of adoption of ASU 2018-02 (Topic 220)

Balance

(20,032)

(22,635)

AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]

Balance

145

Other comprehensive income (loss) before reclassifications

Amounts reclassified from accumulated other comprehensive income (loss)

(170)

Other comprehensive income (loss):

(133)

Effect of adoption of ASU 2018-02 (Topic 220)

Balance

Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]

Balance

(2,215)

(3,233)

Other comprehensive income (loss) before reclassifications

(1,492)

679

Amounts reclassified from accumulated other comprehensive income (loss)

^[1]

125

339

Other comprehensive income (loss):

(1,830)

1,018

Effect of adoption of ASU 2018-02 (Topic 220)

(463)

Balance

(4,045)

(2,215)

AOCI Attributable to Parent [Member]

Balance

(24,838)

(19,625)

Other comprehensive income (loss) before reclassifications

1,111

(5,382)

Amounts reclassified from accumulated other comprehensive income (loss)

125

169

Other comprehensive income (loss):

773

(5,213)

Effect of adoption of ASU 2018-02 (Topic 220)

(463)

Balance

$ (24,065)

$ (24,838)

[1]	This reclassification relates to the amortization of prior service costs and gains/losses associated with the Company's SERP plan. This expense is allocated between cost of sales and selling, general and administrative expense based upon the employment classification of the plan participants.

Note 19 - Subsequent Events (Details Textual) $ in Millions	Feb. 18, 2020 USD ($)
Subsequent Event [Member] \| Term Loan [Member] \| Term Loan [Member]
Repayments of Long-term Debt, Total	$ 8.2