0001437749-20-017158 | 10-Q | XBRL Viewer

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Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2020	Aug. 01, 2020
Document Information [Line Items]
Entity Central Index Key	0000729580
Entity Registrant Name	BEL FUSE INC /NJ
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	0-11676
Entity Address, Address Line One	206 Van Vorst Street
Entity Address, City or Town	Jersey City
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07302
City Area Code	201
Local Phone Number	432-0463
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-1463699
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock ($0.10 par value)
Trading Symbol	BELFB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		10,232,602
Common Class A [Member]
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock ($0.10 par value)
Trading Symbol	BELFA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		2,144,912

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 75,288	$ 72,289
Accounts receivable, net of allowance for doubtful accounts of $1,218 and $1,171, respectively	78,346	76,092
Inventories	104,726	107,276
Unbilled receivables	15,334	16,318
Assets held for sale	2,454	0
Other current assets	9,224	11,206
Total current assets	285,372	283,181
Property, plant and equipment, net	37,334	41,943
Right-of-use assets	16,627	18,504
Intangible assets, net	68,466	72,364
Goodwill	22,252	21,993
Deferred income taxes	4,071	3,731
Other assets	27,021	27,201
Total assets	461,143	468,917
Current Liabilities:
Accounts payable	44,826	44,169
Accrued expenses	28,402	26,918
Current portion of long-term debt	2,305	5,489
Operating lease liability, current	6,467	7,377
Other current liabilities	6,179	6,265
Total current liabilities	88,179	90,218
Long-term Liabilities:
Long-term debt	132,937	138,215
Operating lease liability, long-term	10,469	11,751
Liability for uncertain tax positions	27,075	26,901
Minimum pension obligation and unfunded pension liability	21,944	21,545
Deferred income taxes	1,145	1,726
Other liabilities	11,466	10,510
Total liabilities	293,215	300,866
Commitments and contingencies
Stockholders' Equity:
Preferred stock, no par value, 1,000,000 shares authorized; none issued	0	0
Additional paid-in capital	35,036	33,826
Retained earnings	157,157	157,063
Accumulated other comprehensive loss	(25,502)	(24,065)
Total stockholders' equity	167,928	168,051
Total liabilities and stockholders' equity	461,143	468,917
Common Class A [Member]
Stockholders' Equity:
Common stock	214	214
Common Class B [Member]
Stockholders' Equity:
Common stock	$ 1,023	$ 1,013

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounts receivable, allowance for doubtful accounts	$ 1,218	$ 1,171
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	2,144,912
Common stock, treasury shares (in shares)	1,072,769	1,072,769
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares outstanding (in shares)	10,233,602	10,127,602
Common stock, treasury shares (in shares)	3,218,307	3,218,307

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue	$ 121,172	$ 127,416	$ 225,149	$ 252,805
Cost of sales	89,403	100,670	168,269	195,325
Gross profit	31,769	26,746	56,880	57,480
Research and development costs	6,116	6,862	12,175	14,036
Selling, general and administrative expenses	18,061	19,215	40,122	38,440
Restructuring charges	44	424	172	1,370
Gain on sale of property	0	(4,257)	0	(4,257)
Income from operations	7,548	4,502	4,411	7,891
Interest expense	(1,250)	(1,381)	(2,601)	(2,820)
Other (expense) income, net	(302)	267	(390)	(513)
Earnings before provision for (benefit from) income taxes	5,996	3,388	1,420	4,558
Provision for (benefit from) income taxes	423	421	(349)	460
Net earnings available to common stockholders	5,573	2,967	1,769	4,098
Common Class A [Member]
Net earnings available to common stockholders	$ 923	$ 494	$ 274	$ 673
Net earnings per common share:
Common shares - basic and diluted (in dollars per share)	$ 0.43	$ 0.23	$ 0.13	$ 0.31
Weighted-average number of shares outstanding:
Common shares - basic and diluted (in shares)	2,145	2,175	2,145	2,175
Common Class B [Member]
Net earnings available to common stockholders	$ 4,650	$ 2,473	$ 1,495	$ 3,425
Net earnings per common share:
Common shares - basic and diluted (in dollars per share)	$ 0.46	$ 0.24	$ 0.15	$ 0.34
Weighted-average number of shares outstanding:
Common shares - basic and diluted (in shares)	10,178	10,112	10,151	10,100

Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net earnings available to common stockholders	$ 5,573	$ 2,967	$ 1,769	$ 4,098
Other comprehensive income (loss):
Currency translation adjustment, net of taxes of ($3) in the three months ended June 30, 2020, $16 in the three months ended June 30, 2019, ($30) in the six months ended June 30, 2020 and ($1) in the six months ended June 30, 2019	676	(834)	(1,569)	(294)
Change in unfunded SERP liability, net of taxes of ($20) in the three months ended June 30, 2020, ($11) in the three months ended June 30, 2019, ($40) in the six months ended June 30, 2020 and ($22) in the six months ended June 30, 2019	66	37	132	74
Other comprehensive income (loss)	742	(797)	(1,437)	(220)
Comprehensive income	$ 6,315	$ 2,170	$ 332	$ 3,878

- Definition

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

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+ Details

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Class A [Member] Retained Earnings [Member]	Common Class A [Member] AOCI Attributable to Parent [Member]	Common Class A [Member] Common Stock, Common Class A [Member]	Common Class A [Member] Common Stock, Common Class B [Member]	Common Class A [Member] Additional Paid-in Capital [Member]	Common Class A [Member]	Common Class B [Member] Retained Earnings [Member]	Common Class B [Member] AOCI Attributable to Parent [Member]	Common Class B [Member] Common Stock, Common Class A [Member]	Common Class B [Member] Common Stock, Common Class B [Member]	Common Class B [Member] Additional Paid-in Capital [Member]	Common Class B [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock, Common Class A [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock, Common Class B [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [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, 2018													$ 463	$ (463)	$ 0	$ 0	$ 0	$ 0	$ 168,695	$ (24,838)	$ 217	$ 1,009	$ 31,387	$ 176,470
Net earnings (loss)																			1,131	0	0	0	0	1,131
Cash dividends declared on common stock	$ (130)	$ 0	$ 0	$ 0	$ 0	$ (130)	$ (708)	$ 0	$ 0	$ 0	$ 0	$ (708)
Forfeiture of restricted common stock																			0	0	0	(1)		0
Forfeiture of restricted common stock, APIC																							1
Foreign currency translation adjustment, net of taxes																			0	540	0	0	0	540
Stock-based compensation expense																			0	0	0	0	813	813
Change in unfunded SERP liability, net of taxes																			0	37	0	0	0	37
Balance at Mar. 31, 2019																			169,451	(24,724)	217	1,008	32,201	178,153
Balance at Dec. 31, 2018													$ 463	$ (463)	$ 0	$ 0	$ 0	$ 0	168,695	(24,838)	217	1,009	31,387	176,470
Net earnings (loss)						673						3,425												4,098
Cash dividends declared on common stock						(261)						(1,412)
Foreign currency translation adjustment, net of taxes																								(294)
Change in unfunded SERP liability, net of taxes																								74
Balance at Jun. 30, 2019																			171,583	(25,521)	217	1,014	32,983	180,276
Balance at Mar. 31, 2019																			169,451	(24,724)	217	1,008	32,201	178,153
Net earnings (loss)						494						2,473							2,967	0	0	0	0	2,967
Cash dividends declared on common stock	(131)	0	0	0	0	(131)	(704)	0	0	0	0	(704)
Forfeiture of restricted common stock																			0	0	0	(1)		0
Forfeiture of restricted common stock, APIC																							1
Foreign currency translation adjustment, net of taxes																			0	(834)	0	0	0	(834)
Stock-based compensation expense																			0	0				788
Change in unfunded SERP liability, net of taxes																			0	37	0	0	0	37
Issuance of restricted common stock																						7	(7)	0
Balance at Jun. 30, 2019																			171,583	(25,521)	217	1,014	32,983	180,276
Balance at Dec. 31, 2019																			157,063	(24,065)	214	1,013	33,826	168,051
Net earnings (loss)																			(3,804)	0	0	0	0	(3,804)
Cash dividends declared on common stock	(130)	0	0	0	0	(130)	(709)	0	0	0	0	(709)
Forfeiture of restricted common stock																			0	0	0	(1)		0
Forfeiture of restricted common stock, APIC																							1
Foreign currency translation adjustment, net of taxes																			0	(2,245)	0	0	0	(2,245)
Stock-based compensation expense																			0	0	0	0	603	603
Change in unfunded SERP liability, net of taxes																			0	66	0	0	0	66
Balance at Mar. 31, 2020																			152,420	(26,244)	214	1,012	34,430	161,832
Balance at Dec. 31, 2019																			157,063	(24,065)	214	1,013	33,826	168,051
Net earnings (loss)						274						1,495												1,769
Cash dividends declared on common stock						(259)						(1,416)
Foreign currency translation adjustment, net of taxes																								(1,569)
Change in unfunded SERP liability, net of taxes																								132
Balance at Jun. 30, 2020																			157,157	(25,502)	214	1,023	35,036	167,928
Balance at Mar. 31, 2020																			152,420	(26,244)	214	1,012	34,430	161,832
Net earnings (loss)						923						4,650							5,573	0	0	0	0	5,573
Cash dividends declared on common stock	$ (129)	$ 0	$ 0	$ 0	$ 0	$ (129)	$ (707)	$ 0	$ 0	$ 0	$ 0	$ (707)
Forfeiture of restricted common stock																			0	0	0	11		0
Forfeiture of restricted common stock, APIC																							(11)
Foreign currency translation adjustment, net of taxes																			0	676	0	0	0	676
Stock-based compensation expense																			0	0	0	0	617	617
Change in unfunded SERP liability, net of taxes																			0	66	0	0	0	66
Balance at Jun. 30, 2020																			$ 157,157	$ (25,502)	$ 214	$ 1,023	$ 35,036	$ 167,928

- Definition

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

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net earnings	$ 1,769	$ 4,098
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	8,234	8,216
Stock-based compensation	1,220	1,601
Amortization of deferred financing costs	316	232
Deferred income taxes	(1,030)	(1,002)
Net unrealized gains/losses on foreign currency revaluation	58	123
Gain on sale of property	0	(4,257)
Other, net	105	1,316
Changes in operating assets and liabilities:
Accounts receivable, net	(2,463)	7,734
Unbilled receivables	984	4,329
Inventories	1,906	1,799
Accounts payable	994	(13,350)
Accrued expenses	1,307	(2,052)
Other operating assets/liabilities, net	3,443	(1,032)
Net cash provided by operating activities	16,843	7,755
Cash flows from investing activities:
Purchases of property, plant and equipment	(2,980)	(5,329)
Proceeds from disposal/sale of property, plant and equipment	20	5,784
Net cash (used in) provided by investing activities	(2,960)	455
Cash flows from financing activities:
Dividends paid to common stockholders	(1,613)	(1,600)
Deferred financing costs	(600)	0
Borrowings under revolving credit line	0	12,000
Repayments of revolving credit line	0	(12,000)
Repayments of long-term debt	(8,179)	(1,487)
Net cash used in financing activities	(10,392)	(3,087)
Effect of exchange rate changes on cash and cash equivalents	(492)	(639)
Net increase in cash and cash equivalents	2,999	4,484
Cash and cash equivalents - beginning of period	72,289	53,911
Cash and cash equivalents - end of period	75,288	58,395
Supplementary information:
Income taxes, net of refunds received	1,473	2,805
Interest payments	$ 2,339	$ 2,533

Note 1 - Basis of Presentation and Accounting Policies

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Basis of Presentation and Significant Accounting Policies [Text Block]

1.	BASIS OF PRESENTATION AND ACCOUNTING POLICIES

The condensed consolidated balance sheets and statements of operations, comprehensive income, stockholders’ equity and cash flows for the periods presented herein have been prepared by the Company and are unaudited. In the opinion of management, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the consolidated financial position, results of operations and cash flows for all periods presented have been made. The results for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Bel Fuse Annual Report on Form 10-K for the year ended December 31, 2019.

Certain information and footnote disclosures required under accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted from these condensed consolidated financial statements pursuant to the rules and regulations, including the interim reporting requirements, of the U.S. Securities and Exchange Commission (“SEC”). The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates.

The Company’s significant accounting policies are summarized in Note 1 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. There were no significant changes to these accounting policies during the six months ended June 30, 2020, except as discussed in “Recently Adopted Accounting Standards” below.

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 $6.9 million and $14.0 million have been reclassified from cost of sales to a separate line item below gross profit in the accompanying condensed consolidated statement of operations for the three and six months ended June 30, 2019, 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 (losses) on foreign currency exchange in the amount of $0.5 million and ($0.1) million have been reclassified from selling, general and administrative expense and are now included within other (expense) income, net on the accompanying condensed consolidated statement of operations for the three and six months ended June 30, 2019, respectively. These changes in presentation are consistent with that of our peers. The Company also implemented a change to its reportable segments during the fourth quarter of 2019. In the past, the Company's reportable operating segments were geographic in nature: North America, Europe and Asia. In connection with the Company's migration to its new ERP system and with the acquisition of CUI, management is now assessing the business on a product group basis, and making decisions based on the profitability of three product segments, Cinch Connectivity Solutions, Power Solutions and Protection and Magnetic Solutions, in addition to a Corporate segment. The segment disclosures in Note 14 for the three and six months ended June 30, 2019 have been recast to reflect the new reportable operating segments.

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

Recently Adopted Accounting Standards

In August 2018, 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. The Company adopted the updated provisions effective January 1, 2020. The adoption did not have a material impact on the Company's consolidated financial position or consolidated results of operations.

In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other-Internal-Use Software (Subtopic 350-40): 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. The Company adopted this guidance effective January 1, 2020 and it did not have a material impact on its consolidated financial position or consolidated results of operations.

Accounting Standards Issued But Not Yet Adopted

In 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 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.

In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): 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 adds additional disclosures. The standard is effective for fiscal years ending after December 15, 2020. The amendments in ASU 2018-14 would need to be applied on a retrospective basis. The Company is currently assessing the impact the new guidance will have on the Company's disclosures.

In 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 2019-12 is effective for the Company for interim and annual reporting periods beginning after December 15, 2020. 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

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Business Combination Disclosure [Text Block]

2.	ACQUISITION

On December 3, 2019, the Company completed the acquisition of the majority of the power supply products business of CUI Inc. ("CUI") 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 the Company to better address all of its 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. The acquisition of CUI has also created the opportunity for expense reduction and the elimination of redundancies. The combination of these factors has given rise to $10.9 million of goodwill.

During the three and six months ended June 30, 2020, the Company expensed $0.2 million of acquisition-related costs. These costs are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations.

While the purchase price allocation related to CUI is substantially complete, the allocations are currently under review and are subject to change. The Company expects to finalize the purchase price allocation as soon as practicable, but no later than one year from the acquisition date.

CUI’s results of operations have been included in the Company’s condensed consolidated financial statements for the period subsequent to the acquisition date. CUI contributed revenues of $10.6 million and estimated net earnings of $2.3 million to the Company for the three months ended June 30, 2020 and revenues of $18.9 million and estimated net earnings of $3.1 million to the Company for the six months ended June 30, 2020. The following unaudited pro forma information presents the combined operating results of the Company and CUI. The following unaudited pro forma consolidated results of operations assume that the acquisition of CUI was completed as of January 1, 2019:

	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Revenue	$	135,847	$	270,504
Net earnings		3,383		5,069
Earnings per Class A common share - basic and diluted		0.26		0.39
Earnings per Class B common share - basic and diluted		0.28		0.42

Note 3 - Revenue

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

3.	REVENUE

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

	*Three Months Ended June 30, 2020*								*Six Months Ended June 30, 2020*
	Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated		Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated

*By Product Group:*
North America	$	27,608	$	29,029	$	7,097	$	63,734	$	57,310	$	51,752	$	14,204	$	123,266
Europe		8,356		8,965		1,717		19,038		16,118		18,279		2,918		37,315
Asia		2,944		7,118		28,338		38,400		4,579		11,258		48,731		64,568
	$	38,908	$	45,112	$	37,152	$	121,172	$	78,007	$	81,289	$	65,853	$	225,149

*By Sales Channel:*
Direct to customer	$	23,600	$	26,894	$	31,021	$	81,515	$	48,652	$	48,471	$	55,363	$	152,486
Through distribution		15,308		18,218		6,131		39,657		29,355		32,818		10,490		72,663
	$	38,908	$	45,112	$	37,152	$	121,172	$	78,007	$	81,289	$	65,853	$	225,149

	*Three Months Ended June 30, 2019*								*Six Months Ended June 30, 2019*
	Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated		Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated

*By Product Group:*
North America	$	31,297	$	26,131	$	9,638	$	67,066	$	63,418	$	49,652	$	18,583	$	131,653
Europe		8,212		10,768		2,046		21,026		16,977		23,307		4,267		44,551
Asia		3,027		7,129		29,168		39,324		6,502		13,841		56,258		76,601
	$	42,536	$	44,028	$	40,852	$	127,416	$	86,897	$	86,800	$	79,108	$	252,805

*By Sales Channel:*
Direct to customer	$	28,207	$	28,594	$	34,641	$	91,442	$	57,812	$	57,694	$	67,158	$	182,664
Through distribution		14,329		15,434		6,211		35,974		29,085		29,106		11,950		70,141
	$	42,536	$	44,028	$	40,852	$	127,416	$	86,897	$	86,800	$	79,108	$	252,805

The balances of the Company’s contract assets and contract liabilities at June 30, 2020 and December 31, 2019 are as follows:

	*June 30,*		*December 31,*
	*2020*		*2019*

Contract assets - current (unbilled receivable)	$	15,334	$	16,318
Contract liabilities - current (deferred revenue)	$	1,148	$	653

The change in balance of our unbilled receivables from December 31, 2019 to June 30, 2020 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).

The aggregate amount of transaction price allocated to remaining performance obligations that have not been satisfied as of June 30, 2020 related to contracts that exceed one year in duration amounted to $15.2 million, with expected contract expiration dates that range from 2021 - 2025. It is expected that 27% of this aggregate amount will be recognized in 2021, 70% will be recognized in 2022 and the remainder will be recognized in years beyond 2022.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 4 - Earnings Per Share

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

4.	EARNINGS PER SHARE

The following table sets forth the calculation of basic and diluted net earnings per common share under the two-class method for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019

Numerator:
Net earnings	$	5,573	$	2,967	$	1,769	$	4,098
Less dividends declared:
Class A		129		131		259		261
Class B		707		704		1,416		1,412
Undistributed earnings	$	4,737	$	2,132	$	94	$	2,425

Undistributed earnings allocation - basic and diluted:
Class A undistributed earnings	$	794	$	363	$	15	$	412
Class B undistributed earnings		3,943		1,769		79		2,013
Total undistributed earnings	$	4,737	$	2,132	$	94	$	2,425

Net earnings allocation - basic and diluted:
Class A net earnings	$	923	$	494	$	274	$	673
Class B net earnings		4,650		2,473		1,495		3,425
Net earnings	$	5,573	$	2,967	$	1,769	$	4,098

Denominator:
Weighted-average shares outstanding:
Class A - basic and diluted		2,145		2,175		2,145		2,175
Class B - basic and diluted		10,178		10,112		10,151		10,100

Net earnings per share:
Class A - basic and diluted	$	0.43	$	0.23	$	0.13	$	0.31
Class B - basic and diluted	$	0.46	$	0.24	$	0.15	$	0.34

Note 5 - Fair Value Measurements

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Fair Value Disclosures [Text Block]

5.	FAIR VALUE MEASUREMENTS

Fair value is defined as an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based upon the best use of the asset or liability at the measurement date. Entities are required to use a fair value hierarchy which maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value:

Level 1 – Observable inputs such as quoted market prices in active markets;

Level 2 – Inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3 – Unobservable inputs about which little or no market data exists, therefore requiring an entity to develop its own assumptions.

As of June 30, 2020 and December 31, 2019, 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 1 inputs) and amounted to $0.9 million at June 30, 2020 and $1.1 million at December 31, 2019. During the second quarter of 2020, the Company entered into foreign exchange forward contracts, the fair value of which was less than $0.1 million at June 30, 2020. The Company does not have any financial assets measured at fair value on a recurring basis categorized as Level 3, and there were no transfers in or out of Level 3 during the six months ended June 30, 2020 or June 30, 2019. There were no changes to the Company’s valuation techniques used to measure asset fair values on a recurring or nonrecurring basis during the six months ended June 30, 2020 or June 30, 2019.

There were no financial assets accounted for at fair value on a nonrecurring basis as of June 30, 2020 or December 31, 2019.

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 June 30, 2020 and December 31, 2019, the estimated fair value of total debt was $141.7 million and $146.4 million, respectively, compared to a carrying amount of $135.2 million and $143.7 million, respectively. The Company did not have any other financial liabilities within the scope of the fair value disclosure requirements as of June 30, 2020.

Nonfinancial assets and liabilities, such as goodwill, indefinite-lived intangible assets and long-lived assets, are accounted for at fair value on a nonrecurring basis. These items are tested for impairment upon the occurrence of a triggering event or in the case of goodwill, on at least an annual basis. The Company considered the impacts of COVID-19 on Bel's business and on general economic conditions when making its assessment on whether a triggering event had occurred during the six months ended June 30, 2020. Based on the Company's assessment, it was concluded that no triggering events occurred during the six months ended June 30, 2020 that would warrant interim impairment testing.

- 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 - Inventories

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Inventory Disclosure [Text Block]

6.	INVENTORIES

The components of inventories are as follows:

	June 30,		December 31,
	2020		2019
Raw materials	$	47,707	$	47,936
Work in progress		29,139		27,065
Finished goods		27,880		32,275
Inventories	$	104,726	$	107,276

Note 7 - Property, Plant and Equipment

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

7.	PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	June 30,			December 31,
	2020			2019
Land	$	1,428		$	1,431
Buildings and improvements		22,647			29,722
Machinery and equipment		124,192			132,134
Construction in progress		2,662			5,090
		150,929			168,377
Accumulated depreciation		(113,595	)		(126,434	)
Property, plant and equipment, net	$	37,334		$	41,943

Depreciation expense for the three months ended June 30, 2020 and 2019 was $2.3 million and $2.5 million, respectively. Depreciation expense for the six months ended June 30, 2020 and 2019 was $4.7 million and $5.0 million, respectively. Depreciation expense related to our manufacturing facilities and equipment is included in cost of sales and depreciation expense associated with administrative facilities and office equipment is included in selling, general and administrative expense within the accompanying condensed consolidated statements of operations.

Note 8 - Accrued Expenses

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

8.	ACCRUED EXPENSES

Accrued expenses consist of the following:

	June 30,		December 31,
	2020		2019
Sales commissions	$	2,685	$	2,542
Subcontracting labor		1,115		990
Salaries, bonuses and related benefits		15,301		14,715
Warranty accrual		1,368		1,576
Other		7,933		7,095
	$	28,402	$	26,918

The change in warranty accrual during the six months ended June 30, 2020 primarily related to repair costs incurred and adjustments to pre-existing warranties. There were no new material warranty charges incurred during the six months ended June 30, 2020.

Restructuring Activities

Included within other accrued expenses in the table above are costs accrued related to the Company’s restructuring activities. Activity and liability balances related to restructuring costs for the six months ended June 30, 2020 are as follows:

			Six Months Ended
			June 30, 2020
	Liability at					Cash Payments			Liability at
	December 31,		New			and Other			June 30,
	2019		Charges			Settlements			2020
Severance costs	$	-	$	216		$	(216	)	$	-
Other restructuring costs		44		(44	)		-			-
Total	$	44	$	172		$	(216	)	$	-

Note 9 - Debt

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Debt Disclosure [Text Block]

DEBT

The Company has a Credit and Security Agreement with KeyBank National Association (as amended, the "credit agreement" or the "CSA"). The CSA consists of (i) a term loan, with outstanding borrowings of $104.8 million and $113.0 million at June 30, 2020 and December 31, 2019, respectively, and (ii) a $75 million revolving credit facility (“Revolver”), with $32.0 million in outstanding borrowings at each of June 30, 2020 and December 31, 2019. The CSA has a maturity date of December 11, 2022. At June 30, 2020 and December 31, 2019, the carrying value of the debt on the condensed consolidated balance sheet is reflected net of $1.6 million and $1.3 million, respectively, of deferred financing costs.

On 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.

The weighted-average interest rate in effect was 3.44% at June 30, 2020 and 3.31% at December 31, 2019 and consisted of LIBOR plus the Company’s credit spread, as determined per the terms of the CSA. The Company incurred $1.3 million and $1.4 million of interest expense during the three months ended June 30, 2020 and June 30, 2019, respectively. The Company incurred $2.6 million and $2.8 million of interest expense during the six months ended June 30, 2020 and June 30, 2019, respectively.

The 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. At June 30, 2020, the Company was in compliance with its debt covenants, including its most restrictive covenant, the Fixed Charge Coverage Ratio.

Note 10 - Income Taxes

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Income Tax Disclosure [Text Block]

10.

INCOME TAXES

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (“CARES”) Act was enacted and signed into law. Certain provisions of the CARES Act impact the 2019 income tax provision computations of the Company and were reflected in the three months ended March 31, 2020, or the period of enactment. The CARES Act contains modifications on the limitation of business interest for tax years beginning in 2019 and 2020. The modifications to Section 163(j) increase the allowable business interest deduction from 30% of adjusted taxable income to 50% of adjusted taxable income. This modification would increase the allowable interest expense deduction of the Company and result in a net operating loss (“NOL”) for the year ended December 31, 2019. The Company intends to carry back the NOL to the tax year ended December 31, 2015 and has reflected this impact in the tax provision for the three months ended March 31, 2020. Due to the foregoing, and as a result of the difference in corporate tax rates in the NOL carryback period, the Company recognized a benefit associated with the enactment of the CARES Act in the three months ended March 31, 2020.

The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. The Company is no 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 no 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.

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 June 30, 2020. The Company’s liabilities for uncertain tax positions totaled $28.4 million and $29.1 million at June 30, 2020 and December 31, 2019, respectively, of which $1.3 million and $2.2 million is included in other current liabilities at June 30, 2020 and December 31, 2019, respectively and are expected to be resolved during 2020 by way of expiration of the related statute of limitations. These amounts, if recognized, would reduce the Company’s effective tax rate.

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 six months ended June 30, 2020 and 2019, the Company recognized $0.4 million in interest and penalties in the condensed consolidated statements of operations during each period. During the six months ended June 30, 2020, the Company recognized a benefit of $0.3 million for the reversal of such interest and penalties, relating to the settlement of the liability for uncertain tax positions. The Company has approximately $4.9 million accrued for the payment of interest and penalties at each of June 30, 2020 and December 31, 2019, which is included in both income taxes payable and liability for uncertain tax positions in the condensed consolidated balance sheets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Note 11 - Retirement Fund and Profit Sharing Plan

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Retirement Benefits [Text Block]

11.

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 expense for the three months ended June 30, 2020 and 2019 amounted to $0.3 million in both periods. The expense for the six months ended June 30, 2020 and 2019 amounted to $0.6 million in both periods. The Company’s matching contribution is made in the form of Bel Fuse Inc. Class A common stock. As of June 30, 2020, the plan owned 223,406 and 111,761 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. The expense for the three months ended June 30, 2020 and 2019 amounted to $0.1 million in both periods. The expense for the six months ended June 30, 2020 and 2019 amounted to $0.2 million in both periods. As of June 30, 2020, 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. As discussed in Note 5 above, the Company has investments in a rabbi trust which are intended to fund the obligations of the SERP.

The components of SERP expense are as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Service cost	$	150	$	144	$	300	$	288
Interest cost		159		185		318		370
Net amortization		86		48		172		96
Net periodic benefit cost	$	395	$	377	$	790	$	754

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

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

	June 30,		December 31,
	2020		2019
Prior service cost	$	662	$	738
Net loss		1,870		1,965
	$	2,532	$	2,703

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Note 12 - Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

12.

ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of accumulated other comprehensive loss at June 30, 2020 and December 31, 2019 are summarized below:

	June 30,			December 31,
	2020			2019

Foreign currency translation adjustment, net of taxes of ($711) at June 30, 2020 and ($742) at December 31, 2019	$	(21,600	)	$	(20,032	)
Unrealized holding gains on available-for-sale securities, net of taxes of $0 at June 30, 2020 and $0 at December 31, 2019		11			12
Unfunded SERP liability, net of taxes of ($599) at June 30, 2020 and ($639) at December 31, 2019		(3,913	)		(4,045	)

Accumulated other comprehensive loss	$	(25,502	)	$	(24,065	)

Changes in accumulated other comprehensive loss by component during the six months ended June 30, 2020 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 December 31, 2019	$	(20,032	)	$	12		$	(4,045	)		$	(24,065	)
Other comprehensive loss before reclassifications		(1,568	)		(1	)		(37	)			(1,606	)
Amount reclassified from accumulated other comprehensive loss		-			-			169		(a)		169
Net current period other comprehensive income (loss)		(1,568	)		(1	)		132				(1,437	)

Balance at June 30, 2020	$	(21,600	)	$	11		$	(3,913	)		$	(25,502	)

(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 13 - Commitments and Contingencies

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

13.

COMMITMENTS AND CONTINGENCIES

Legal Proceedings

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 to 2006. In 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. On 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 condensed 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 condensed consolidated balance sheets at June 30, 2020 and December 31, 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 results of operations.

Note 14 - Segments

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

14.

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 revenue and gross profit. The following is a summary of key financial data:

	Three Months Ended June 30, 2020
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment		Total
Revenue	$	38,908		$	45,112		$	37,152		$	-		121,172
Gross Profit		11,531			10,615			9,445			178		31,769
Gross Profit %		29.6	%		23.5	%		25.4	%		nm		26.2	%

	Three Months Ended June 30, 2019
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	42,536		$	44,028		$	40,852		$	-			127,416
Gross Profit		10,135			8,876			8,180			(445	)		26,746
Gross Profit %		23.8	%		20.2	%		20.0	%		nm			21.0	%

	Six Months Ended June 30, 2020
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	78,007		$	81,289		$	65,853		$	-			225,149
Gross Profit		22,698			19,523			15,438			(779	)		56,880
Gross Profit %		29.1	%		24.0	%		23.4	%		nm			25.3	%

	Six Months Ended June 30, 2019
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	86,897		$	86,800		$	79,108		$	-			252,805
Gross Profit		22,450			18,855			16,708			(533	)		57,480
Gross Profit %		25.8	%		21.7	%		21.1	%		nm			22.7	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Reclassification, Comparability Adjustment [Policy Text Block]	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 $6.9 million and $14.0 million have been reclassified from cost of sales to a separate line item below gross profit in the accompanying condensed consolidated statement of operations for the three and six months ended June 30, 2019, 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 (losses) on foreign currency exchange in the amount of $0.5 million and ($0.1) million have been reclassified from selling, general and administrative expense and are now included within other (expense) income, net on the accompanying condensed consolidated statement of operations for the three and six months ended June 30, 2019, respectively. These changes in presentation are consistent with that of our peers. The Company also implemented a change to its reportable segments during the fourth quarter of 2019. In the past, the Company's reportable operating segments were geographic in nature: North America, Europe and Asia. In connection with the Company's migration to its new ERP system and with the acquisition of CUI, management is now assessing the business on a product group basis, and making decisions based on the profitability of three product segments, Cinch Connectivity Solutions, Power Solutions and Protection and Magnetic Solutions, in addition to a Corporate segment. The segment disclosures in Note 14 for the three and six months ended June 30, 2019 have been recast to reflect the new reportable operating segments. All amounts included in the tables to these notes to condensed consolidated financial statements, except per share amounts, are in thousands.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In 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. The Company adopted the updated provisions effective January 1, 2020. The adoption did not have a material impact on the Company's consolidated financial position or consolidated results of operations. In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other-Internal-Use Software (Subtopic 350-40): 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. The Company adopted this guidance effective January 1, 2020 and it did not have a material impact on its consolidated financial position or consolidated results of operations. *Accounting Standards Issued But Not* Yet Adopted** In 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 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. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): 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 adds additional disclosures. The standard is effective for fiscal years ending after December 15, 2020. The amendments in ASU 2018-14 would need to be applied on a retrospective basis. The Company is currently assessing the impact the new guidance will have on the Company's disclosures. In 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 2019-12 is effective for the Company for interim and annual reporting periods beginning after December 15, 2020. 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 (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Business Acquisition, Pro Forma Information [Table Text Block]

	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Revenue	$	135,847	$	270,504
Net earnings		3,383		5,069
Earnings per Class A common share - basic and diluted		0.26		0.39
Earnings per Class B common share - basic and diluted		0.28		0.42

Note 3 - Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Disaggregation of Revenue [Table Text Block]

	*Three Months Ended June 30, 2020*								*Six Months Ended June 30, 2020*
	Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated		Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated

*By Product Group:*
North America	$	27,608	$	29,029	$	7,097	$	63,734	$	57,310	$	51,752	$	14,204	$	123,266
Europe		8,356		8,965		1,717		19,038		16,118		18,279		2,918		37,315
Asia		2,944		7,118		28,338		38,400		4,579		11,258		48,731		64,568
	$	38,908	$	45,112	$	37,152	$	121,172	$	78,007	$	81,289	$	65,853	$	225,149

*By Sales Channel:*
Direct to customer	$	23,600	$	26,894	$	31,021	$	81,515	$	48,652	$	48,471	$	55,363	$	152,486
Through distribution		15,308		18,218		6,131		39,657		29,355		32,818		10,490		72,663
	$	38,908	$	45,112	$	37,152	$	121,172	$	78,007	$	81,289	$	65,853	$	225,149

	*Three Months Ended June 30, 2019*								*Six Months Ended June 30, 2019*
	Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated		Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated

*By Product Group:*
North America	$	31,297	$	26,131	$	9,638	$	67,066	$	63,418	$	49,652	$	18,583	$	131,653
Europe		8,212		10,768		2,046		21,026		16,977		23,307		4,267		44,551
Asia		3,027		7,129		29,168		39,324		6,502		13,841		56,258		76,601
	$	42,536	$	44,028	$	40,852	$	127,416	$	86,897	$	86,800	$	79,108	$	252,805

*By Sales Channel:*
Direct to customer	$	28,207	$	28,594	$	34,641	$	91,442	$	57,812	$	57,694	$	67,158	$	182,664
Through distribution		14,329		15,434		6,211		35,974		29,085		29,106		11,950		70,141
	$	42,536	$	44,028	$	40,852	$	127,416	$	86,897	$	86,800	$	79,108	$	252,805

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

	*June 30,*		*December 31,*
	*2020*		*2019*

Contract assets - current (unbilled receivable)	$	15,334	$	16,318
Contract liabilities - current (deferred revenue)	$	1,148	$	653

Note 4 - Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019

Numerator:
Net earnings	$	5,573	$	2,967	$	1,769	$	4,098
Less dividends declared:
Class A		129		131		259		261
Class B		707		704		1,416		1,412
Undistributed earnings	$	4,737	$	2,132	$	94	$	2,425

Undistributed earnings allocation - basic and diluted:
Class A undistributed earnings	$	794	$	363	$	15	$	412
Class B undistributed earnings		3,943		1,769		79		2,013
Total undistributed earnings	$	4,737	$	2,132	$	94	$	2,425

Net earnings allocation - basic and diluted:
Class A net earnings	$	923	$	494	$	274	$	673
Class B net earnings		4,650		2,473		1,495		3,425
Net earnings	$	5,573	$	2,967	$	1,769	$	4,098

Denominator:
Weighted-average shares outstanding:
Class A - basic and diluted		2,145		2,175		2,145		2,175
Class B - basic and diluted		10,178		10,112		10,151		10,100

Net earnings per share:
Class A - basic and diluted	$	0.43	$	0.23	$	0.13	$	0.31
Class B - basic and diluted	$	0.46	$	0.24	$	0.15	$	0.34

Note 6 - Inventories (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	June 30,		December 31,
	2020		2019
Raw materials	$	47,707	$	47,936
Work in progress		29,139		27,065
Finished goods		27,880		32,275
Inventories	$	104,726	$	107,276

Note 7 - Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Property, Plant and Equipment [Table Text Block]

	June 30,			December 31,
	2020			2019
Land	$	1,428		$	1,431
Buildings and improvements		22,647			29,722
Machinery and equipment		124,192			132,134
Construction in progress		2,662			5,090
		150,929			168,377
Accumulated depreciation		(113,595	)		(126,434	)
Property, plant and equipment, net	$	37,334		$	41,943

Note 8 - Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of Accrued Liabilities [Table Text Block]

	June 30,		December 31,
	2020		2019
Sales commissions	$	2,685	$	2,542
Subcontracting labor		1,115		990
Salaries, bonuses and related benefits		15,301		14,715
Warranty accrual		1,368		1,576
Other		7,933		7,095
	$	28,402	$	26,918

Restructuring and Related Costs [Table Text Block]

			Six Months Ended
			June 30, 2020
	Liability at					Cash Payments			Liability at
	December 31,		New			and Other			June 30,
	2019		Charges			Settlements			2020
Severance costs	$	-	$	216		$	(216	)	$	-
Other restructuring costs		44		(44	)		-			-
Total	$	44	$	172		$	(216	)	$	-

Note 11 - Retirement Fund and Profit Sharing Plan (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of Net Benefit Costs [Table Text Block]

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Service cost	$	150	$	144	$	300	$	288
Interest cost		159		185		318		370
Net amortization		86		48		172		96
Net periodic benefit cost	$	395	$	377	$	790	$	754

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

	June 30,		December 31,
	2020		2019
Prior service cost	$	662	$	738
Net loss		1,870		1,965
	$	2,532	$	2,703

Note 12 - Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

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

	June 30,			December 31,
	2020			2019

Foreign currency translation adjustment, net of taxes of ($711) at June 30, 2020 and ($742) at December 31, 2019	$	(21,600	)	$	(20,032	)
Unrealized holding gains on available-for-sale securities, net of taxes of $0 at June 30, 2020 and $0 at December 31, 2019		11			12
Unfunded SERP liability, net of taxes of ($599) at June 30, 2020 and ($639) at December 31, 2019		(3,913	)		(4,045	)

Accumulated other comprehensive loss	$	(25,502	)	$	(24,065	)

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 December 31, 2019	$	(20,032	)	$	12		$	(4,045	)		$	(24,065	)
Other comprehensive loss before reclassifications		(1,568	)		(1	)		(37	)			(1,606	)
Amount reclassified from accumulated other comprehensive loss		-			-			169		(a)		169
Net current period other comprehensive income (loss)		(1,568	)		(1	)		132				(1,437	)

Balance at June 30, 2020	$	(21,600	)	$	11		$	(3,913	)		$	(25,502	)

Note 14 - Segments (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

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

	Three Months Ended June 30, 2020
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment		Total
Revenue	$	38,908		$	45,112		$	37,152		$	-		121,172
Gross Profit		11,531			10,615			9,445			178		31,769
Gross Profit %		29.6	%		23.5	%		25.4	%		nm		26.2	%

	Three Months Ended June 30, 2019
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	42,536		$	44,028		$	40,852		$	-			127,416
Gross Profit		10,135			8,876			8,180			(445	)		26,746
Gross Profit %		23.8	%		20.2	%		20.0	%		nm			21.0	%

	Six Months Ended June 30, 2020
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	78,007		$	81,289		$	65,853		$	-			225,149
Gross Profit		22,698			19,523			15,438			(779	)		56,880
Gross Profit %		29.1	%		24.0	%		23.4	%		nm			25.3	%

	Six Months Ended June 30, 2019
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	86,897		$	86,800		$	79,108		$	-			252,805
Gross Profit		22,450			18,855			16,708			(533	)		57,480
Gross Profit %		25.8	%		21.7	%		21.1	%		nm			22.7	%

Note 1 - Basis of Presentation and Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Cost of Goods and Services Sold, Total	$ 89,403	$ 100,670	$ 168,269	$ 195,325
Research and Development Expense, Total	6,116	6,862	12,175	14,036
Selling, General and Administrative Expense, Total	18,061	19,215	40,122	38,440
Interest Income and Other Expense	$ (302)	267	$ (390)	(513)
Revision of Prior Period, Adjustment [Member]
Cost of Goods and Services Sold, Total		(6,900)		(14,000)
Research and Development Expense, Total		6,900		14,000
Selling, General and Administrative Expense, Total		500		(100)
Interest Income and Other Expense		$ (500)		$ 100

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	6 Months Ended
	Dec. 03, 2019	Dec. 31, 2019	Jun. 30, 2020	Jun. 30, 2020
Goodwill, Ending Balance		$ 21,993	$ 22,252	$ 22,252
Business Combination, Acquisition Related Costs			200	200
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	$ 29,200
Goodwill, Ending Balance	$ 10,900
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			10,600	18,900
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			$ 2,300	$ 3,100

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 32
-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Note 2 - Acquisitions - Proforma Results (Details) - Majority Products Business of CUI Power [Member] - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Revenue	$ 135,847	$ 270,504
Net earnings	$ 3,383	$ 5,069
Common Class A [Member]
Earnings per common share - basic and diluted (in dollars per share)	$ 0.26	$ 0.39
Earnings per common share - basic and diluted (in dollars per share)	(0.26)	(0.39)
Common Class B [Member]
Earnings per common share - basic and diluted (in dollars per share)	(0.28)	(0.42)
Earnings per common share - basic and diluted (in dollars per share)	$ 0.28	$ 0.42

Note 3 - Revenue (Details Textual) $ in Millions	Jun. 30, 2020 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Amount	$ 15.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Percentage	27.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Percentage	70.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 3 - Revenue - Disaggregation of Revenue by Product Group and Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue	$ 121,172	$ 127,416	$ 225,149	$ 252,805
Sales Channel, Directly to Consumer [Member]
Revenue	81,515	91,442	152,486	182,664
Sales Channel, Through Intermediary [Member]
Revenue	39,657	35,974	72,663	70,141
Connectivity Solutions [Member]
Revenue	38,908	42,536	78,007	86,897
Connectivity Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Revenue	23,600	28,207	48,652	57,812
Connectivity Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Revenue	15,308	14,329	29,355	29,085
Power Solutions and Protection [Member]
Revenue	45,112	44,028	81,289	86,800
Power Solutions and Protection [Member] \| Sales Channel, Directly to Consumer [Member]
Revenue	26,894	28,594	48,471	57,694
Power Solutions and Protection [Member] \| Sales Channel, Through Intermediary [Member]
Revenue	18,218	15,434	32,818	29,106
Magnetic Solutions [Member]
Revenue	37,152	40,852	65,853	79,108
Magnetic Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Revenue	31,021	34,641	55,363	67,158
Magnetic Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Revenue	6,131	6,211	10,490	11,950
North America [Member]
Revenue	63,734	67,066	123,266	131,653
North America [Member] \| Connectivity Solutions [Member]
Revenue	27,608	31,297	57,310	63,418
North America [Member] \| Power Solutions and Protection [Member]
Revenue	29,029	26,131	51,752	49,652
North America [Member] \| Magnetic Solutions [Member]
Revenue	7,097	9,638	14,204	18,583
Europe [Member]
Revenue	19,038	21,026	37,315	44,551
Europe [Member] \| Connectivity Solutions [Member]
Revenue	8,356	8,212	16,118	16,977
Europe [Member] \| Power Solutions and Protection [Member]
Revenue	8,965	10,768	18,279	23,307
Europe [Member] \| Magnetic Solutions [Member]
Revenue	1,717	2,046	2,918	4,267
Asia [Member]
Revenue	38,400	39,324	64,568	76,601
Asia [Member] \| Connectivity Solutions [Member]
Revenue	2,944	3,027	4,579	6,502
Asia [Member] \| Power Solutions and Protection [Member]
Revenue	7,118	7,129	11,258	13,841
Asia [Member] \| Magnetic Solutions [Member]
Revenue	$ 28,338	$ 29,168	$ 48,731	$ 56,258

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
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-Section S99
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Note 3 - Revenue - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Contract assets - current (unbilled receivable)	$ 15,334	$ 16,318
Contract liabilities - current (deferred revenue)	$ 1,148	$ 653

Note 4 - Earnings Per Share - Basic and Diluted Net Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Net earnings	$ 5,573	$ (3,804)	$ 2,967	$ 1,131	$ 1,769	$ 4,098
Undistributed earnings	4,737		2,132		94	2,425
Common Class A [Member]
Net earnings	923		494		274	673
Less dividends declared	129	130	131	130	259	261
Undistributed earnings	$ 794		$ 363		$ 15	$ 412
Weighted-average shares outstanding, basic and diluted (in shares)	2,145		2,175		2,145	2,175
Common shares - basic and diluted (in dollars per share)	$ 0.43		$ 0.23		$ 0.13	$ 0.31
Common Class B [Member]
Net earnings	$ 4,650		$ 2,473		$ 1,495	$ 3,425
Less dividends declared	707	$ 709	704	$ 708	1,416	1,412
Undistributed earnings	$ 3,943		$ 1,769		$ 79	$ 2,013
Weighted-average shares outstanding, basic and diluted (in shares)	10,178		10,112		10,151	10,100
Common shares - basic and diluted (in dollars per share)	$ 0.46		$ 0.24		$ 0.15	$ 0.34

- Definition

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

+ References

+ Details

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Long-term Debt, Fair Value	$ 141,700	$ 146,400
Long-term Debt, Gross	135,200	143,700
Fair Value, Nonrecurring [Member]
Assets, Fair Value Disclosure	0	0
Foreign Exchange Forward [Member] \| Maximum [Member]
Derivative Asset, Total	100
Investments Held in Rabbi Trust [Member]
Debt Securities, Available-for-sale, Total	$ 900	$ 1,100

Note 6 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Raw materials	$ 47,707	$ 47,936
Work in progress	29,139	27,065
Finished goods	27,880	32,275
Inventories	$ 104,726	$ 107,276

Note 7 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Depreciation, Total	$ 2.3	$ 2.5	$ 4.7	$ 5.0

Note 7 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, plant and equipment, gross	$ 150,929	$ 168,377
Accumulated depreciation	(113,595)	(126,434)
Property, plant and equipment, net	37,334	41,943
Land [Member]
Property, plant and equipment, gross	1,428	1,431
Building and Building Improvements [Member]
Property, plant and equipment, gross	22,647	29,722
Machinery and Equipment [Member]
Property, plant and equipment, gross	124,192	132,134
Construction in Progress [Member]
Property, plant and equipment, gross	$ 2,662	$ 5,090

Note 8 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Sales commissions	$ 2,685	$ 2,542
Subcontracting labor	1,115	990
Salaries, bonuses and related benefits	15,301	14,715
Warranty accrual	1,368	1,576
Other	7,933	7,095
Accrued Liabilities, Current, Total	$ 28,402	$ 26,918

Note 8 - Accrued Expenses - Activity and Liability Balances Related to Restructuring Costs (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Liability, beginning balance	$ (0)	$ 44
New charges	172
Cash payment and other settlements	(216)
Liability, ending balance	0	(44)
Employee Severance [Member]
Liability, beginning balance	(0)	0
New charges	216
Cash payment and other settlements	(216)
Liability, ending balance	0	0
Other Restructuring [Member]
Liability, beginning balance	0	44
New charges	(44)
Cash payment and other settlements	0
Liability, ending balance	$ 0	$ (44)

Note 9 - Debt (Details Textual) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
Note 9 - Debt (Details Textual) - USD ($) $ in Thousands	Feb. 18, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Repayments of Long-term Debt, Total				$ 8,179	$ 1,487
Credit and Security Agreement with KeyBank [Member]
Debt Issuance Costs, Net, Total		$ 1,600		$ 1,600		$ 1,300
Debt, Weighted Average Interest Rate		3.44%		3.44%		3.31%
Interest Expense, Debt, Total		$ 1,300	$ 1,400	$ 2,600	$ 2,800
Credit and Security Agreement with KeyBank [Member] \| Term Loan [Member]
Repayments of Long-term Debt, Total	$ 8,200
Credit and Security Agreement with KeyBank [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		75,000		75,000		$ 75,000
Long-term Line of Credit, Total		32,000		32,000		32,000
Credit and Security Agreement with KeyBank [Member] \| Term Loan [Member]
Long-term Debt, Total		$ 104,800		$ 104,800		$ 113,000

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Unrecognized Tax Benefits, Ending Balance	$ 28.4	$ 29.1
Liability for Uncertainty in Income Taxes, Current	1.3	$ 2.2
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total	0.4
Tax Credit Carryforward, Amount	0.3
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	$ 4.9

Note 11 - Retirement Fund and Profit Sharing Plan (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Bel Fuse Inc. Employees' Savings Plan [Member]
Defined Contribution Plan, Cost	$ 0.3	$ 0.3	$ 0.6	$ 0.6
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class A [Member]
Shares Held in Plan (in shares)	223,406		223,406
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class B [Member]
Shares Held in Plan (in shares)	111,761		111,761
Retirement Fund Covering Hong Kong-based Employees [Member]
Defined Contribution Plan, Cost	$ 0.1	$ 0.1	$ 0.2	$ 0.2
Retirement Fund Covering Hong Kong-based Employees [Member] \| Common Class A [Member]
Shares Held in Plan (in shares)	3,323		3,323
Retirement Fund Covering Hong Kong-based Employees [Member] \| Common Class B [Member]
Shares Held in Plan (in shares)	17,342		17,342

Note 11 - Retirement Fund and Profit Sharing Plan - Components of SERP Expense (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Service cost	$ 150	$ 144	$ 300	$ 288
Interest cost	159	185	318	370
Net amortization	86	48	172	96
Net periodic benefit cost	$ 395	$ 377	$ 790	$ 754

Note 11 - Retirement Fund and Profit Sharing Plan - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Prior service cost	$ 662	$ 738
Net loss	1,870	1,965
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax, Total	$ 2,532	$ 2,703

Note 12 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Foreign currency translation adjustment, net of taxes of ($711) at June 30, 2020 and ($742) at December 31, 2019	$ (21,600)	$ (20,032)
Unrealized holding gains on available-for-sale securities, net of taxes of $0 at June 30, 2020 and $0 at December 31, 2019	11	12
Unfunded SERP liability, net of taxes of ($599) at June 30, 2020 and ($639) at December 31, 2019	(3,913)	(4,045)
Accumulated other comprehensive loss	$ (25,502)	$ (24,065)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Note 12 - Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Balance

$ 161,832

$ 178,153

$ 168,051

$ 176,470

Other comprehensive income (loss)

742

(797)

(1,437)

(220)

Balance

167,928

180,276

167,928

180,276

Accumulated Foreign Currency Adjustment Attributable to Parent [Member]

Balance

(20,032)

Other comprehensive loss before reclassifications

(1,568)

Amount reclassified from accumulated other comprehensive loss

Other comprehensive income (loss)

(1,568)

Balance

(21,600)

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

Balance

Other comprehensive loss before reclassifications

(1)

Amount reclassified from accumulated other comprehensive loss

Other comprehensive income (loss)

(1)

Balance

Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]

Balance

(4,045)

Other comprehensive loss before reclassifications

(37)

Amount reclassified from accumulated other comprehensive loss

^[1]

169

Other comprehensive income (loss)

132

Balance

(3,913)

AOCI Attributable to Parent [Member]

Balance

(26,244)

(24,724)

(24,065)

(24,838)

Other comprehensive loss before reclassifications

(1,606)

Amount reclassified from accumulated other comprehensive loss

169

Other comprehensive income (loss)

(1,437)

Balance

$ (25,502)

$ (25,521)

$ (25,502)

$ (25,521)

[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.

- Definition

+ References + Details

Note 13 - Commitments and Contingencies (Details Textual) $ in Millions	Jun. 30, 2020 USD ($)
Arezzo Revenue Agency [Member]
Loss Contingency, Estimate of Possible Loss	$ 12

Note 14 - Segments (Details Textual)	6 Months Ended
Note 14 - Segments (Details Textual)	Jun. 30, 2020
Number of Industry in which Entity Operates	1
Number of Operating Segments	3
Number of Reportable Segments	3

Note 14 - Segments - Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue	$ 121,172	$ 127,416	$ 225,149	$ 252,805
Gross Profit	$ 31,769	$ 26,746	$ 56,880	$ 57,480
Gross Profit %	26.20%	21.00%	25.30%	22.70%
Connectivity Solutions [Member]
Revenue	$ 38,908	$ 42,536	$ 78,007	$ 86,897
Gross Profit	$ 11,531	$ 10,135	$ 22,698	$ 22,450
Gross Profit %	29.60%	23.80%	29.10%	25.80%
Power Solutions and Protection Segment [Member]
Revenue	$ 45,112	$ 44,028	$ 81,289	$ 86,800
Gross Profit	$ 10,615	$ 8,876	$ 19,523	$ 18,855
Gross Profit %	23.50%	20.20%	24.00%	21.70%
Magnetic Solutions Segment [Member]
Revenue	$ 37,152	$ 40,852	$ 65,853	$ 79,108
Gross Profit	$ 9,445	$ 8,180	$ 15,438	$ 16,708
Gross Profit %	25.40%	20.00%	23.40%	21.10%
Corporate Segment [Member]
Revenue	$ 0	$ 0	$ 0	$ 0
Gross Profit	$ 178	$ (445)	$ (779)	$ (533)

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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