0001437749-21-025485 | 10-Q | XBRL Viewer

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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2021	Nov. 01, 2021
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	Q3
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	000-11676
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 Filer Category	Accelerated Filer
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		10,260,602
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	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 61,961	$ 84,939
Accounts receivable, net of allowance for doubtful accounts of $1,003 and $1,036, respectively	86,031	71,372
Inventories	128,179	100,133
Unbilled receivables	28,093	14,135
Assets held for sale	1,626	0
Other current assets	9,655	9,637
Total current assets	315,545	280,216
Property, plant and equipment, net	35,553	34,501
Right-of-use assets	11,314	14,217
Intangible assets, net	62,698	65,789
Goodwill	25,846	23,966
Deferred income taxes	5,671	5,705
Other assets	30,956	29,472
Total assets	487,583	453,866
Current Liabilities:
Accounts payable	57,610	39,774
Accrued expenses	38,249	28,476
Current portion of long-term debt	0	5,286
Operating lease liabilities, current	5,623	6,591
Other current liabilities	4,754	7,409
Total current liabilities	106,236	87,536
Long-term Liabilities:
Long-term debt	112,500	110,294
Operating lease liabilities, long-term	5,944	8,064
Liability for uncertain tax positions	27,565	26,089
Minimum pension obligation and unfunded pension liability	25,193	24,620
Deferred income taxes	938	1,030
Other liabilities	9,005	10,434
Total liabilities	287,381	268,067
Commitments and contingencies (see Note 13)
Stockholders' Equity:
Preferred stock, no par value, 1,000,000 shares authorized; none issued	0	0
Additional paid-in capital	37,883	36,136
Retained earnings	180,769	166,491
Accumulated other comprehensive loss	(19,690)	(18,063)
Total stockholders' equity	200,202	185,799
Total liabilities and stockholders' equity	487,583	453,866
Common Class A [Member]
Stockholders' Equity:
Common stock	214	214
Common Class B [Member]
Stockholders' Equity:
Common stock	$ 1,026	$ 1,021

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounts receivable, allowance for doubtful accounts	$ 1,003	$ 1,036
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, par value (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, par value (in shares)	30,000,000	30,000,000
Common stock, shares outstanding (in shares)	10,263,102	10,208,602
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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 146,966	$ 124,492	$ 396,351	$ 349,642
Cost of sales	110,992	91,183	301,234	259,286
Gross profit	35,974	33,309	95,117	90,356
Research and development costs	5,918	5,713	16,301	17,889
Selling, general and administrative expenses	21,188	19,368	64,757	59,140
Restructuring charges	398	111	675	283
Gain on sale of property	(403)	0	(6,578)	0
Income from operations	8,873	8,117	19,962	13,044
Interest expense	(1,491)	(1,242)	(3,014)	(3,843)
Other (expense) income, net	(201)	(483)	458	(1,390)
Earnings before provision for (benefit from) income taxes	7,181	6,392	17,406	7,811
Provision for (benefit from) income taxes	1,447	(1,083)	593	(1,433)
Net earnings available to common stockholders	5,734	7,475	16,813	9,244
Common Class A [Member]
Net earnings available to common stockholders	$ 940	$ 1,233	$ 2,761	$ 1,512
Net earnings per common share:
Common shares - basic and diluted (in dollars per share)	$ 0.44	$ 0.57	$ 1.29	$ 0.70
Weighted-average number of shares outstanding:
Common shares - basic and diluted (in shares)	2,145	2,145	2,145	2,145
Common Class B [Member]
Net earnings available to common stockholders	$ 4,794	$ 6,242	$ 14,052	$ 7,732
Net earnings per common share:
Common shares - basic and diluted (in dollars per share)	$ 0.47	$ 0.61	$ 1.37	$ 0.76
Weighted-average number of shares outstanding:
Common shares - basic and diluted (in shares)	10,269	10,223	10,237	10,176

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net earnings available to common stockholders	$ 5,734	$ 7,475	$ 16,813	$ 9,244
Other comprehensive (loss) income:
Currency translation adjustment, net of taxes of ($12), $17, ($336) and ($14), respectively	(1,982)	3,588	(1,971)	2,020
Unrealized gains (losses) on marketable securities arising during the period, net of taxes of $0 in all periods presented	46	0	45	(1)
Change in unfunded SERP liability, net of taxes of ($28), ($20), ($83) and ($59), respectively	100	66	299	198
Other comprehensive (loss) income	(1,836)	3,654	(1,627)	2,217
Comprehensive income	$ 3,898	$ 11,129	$ 15,186	$ 11,461

- 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 Comprehensive Income (Loss) (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Foreign currency translation adjustment, tax expense	$ (12)	$ 17	$ (336)	$ (14)
Unrealized loss on marketable securities arising during the period, tax	0	0	0	0
Change in unfunded SERP liability, tax	$ (28)	$ (20)	$ (83)	$ (59)

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]	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, 2019													$ 157,063	$ (24,065)	$ 214	$ 1,013	$ 33,826	$ 168,051
Net earnings													(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						1,512						7,732						9,244
Cash dividends declared on common stock						(388)						(2,133)
Foreign currency translation adjustment, net of taxes																		2,020
Unrealized holding losses on marketable securities																		(1)
Change in unfunded SERP liability, net of taxes																		198
Balance at Sep. 30, 2020													163,786	(21,848)	214	1,022	35,597	178,771
Balance at Mar. 31, 2020													152,420	(26,244)	214	1,012	34,430	161,832
Net earnings													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
Net earnings						1,233						6,242	7,475	0	0	0	0	7,475
Cash dividends declared on common stock	(129)	0	0	0	0	(129)	(717)	0	0	0	0	(717)
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	3,588	0	0	0	3,588
Unrealized holding losses on marketable securities																		0
Stock-based compensation expense													0	0	0	0	560	560
Change in unfunded SERP liability, net of taxes													0	66	0	0	0	66
Balance at Sep. 30, 2020													163,786	(21,848)	214	1,022	35,597	178,771
Balance at Dec. 31, 2020													166,491	(18,063)	214	1,021	36,136	185,799
Net earnings													3,199	0	0	0	0	3,199
Cash dividends declared on common stock	(128)	0	0	0	0	(128)	(716)	0	0	0	0	(716)
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	(2,529)	0	0	0	(2,529)
Unrealized holding losses on marketable securities													0	(1)	0	0	0	(1)
Stock-based compensation expense													0	0	0	0	600	600
Change in unfunded SERP liability, net of taxes													0	99	0	0	0	99
Balance at Mar. 31, 2021													168,846	(20,494)	214	1,020	36,737	186,323
Balance at Dec. 31, 2020													166,491	(18,063)	214	1,021	36,136	185,799
Net earnings						2,761						14,052						16,813
Cash dividends declared on common stock						(386)						(2,149)
Foreign currency translation adjustment, net of taxes																		(1,971)
Unrealized holding losses on marketable securities																		45
Change in unfunded SERP liability, net of taxes																		299
Balance at Sep. 30, 2021													180,769	(19,690)	214	1,026	37,883	200,202
Balance at Mar. 31, 2021													168,846	(20,494)	214	1,020	36,737	186,323
Net earnings													7,880	0	0	0	0	7,880
Cash dividends declared on common stock	(129)	0	0	0	0	(129)	(714)	0	0	0	0	(714)
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	2,540	0	0	0	2,540
Stock-based compensation expense													0	0	0	0	598	598
Change in unfunded SERP liability, net of taxes													0	100	0	0	0	100
Issuance of restricted common stock													0	0	0	8	(8)	0
Balance at Jun. 30, 2021													175,883	(17,854)	214	1,027	37,328	196,598
Net earnings						940						4,794	5,734	0	0	0	0	5,734
Cash dividends declared on common stock	$ (129)	$ 0	$ 0	$ 0	$ 0	$ (129)	$ (719)	$ 0	$ 0	$ 0	$ 0	$ (719)
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	(1,982)	0	0	0	(1,982)
Unrealized holding losses on marketable securities													0	46	0	0	0	46
Stock-based compensation expense													0	0	0	0	554	554
Change in unfunded SERP liability, net of taxes													0	100	0	0	0	100
Repurchase of Class A common stock													0	0	0	0	0	0
Balance at Sep. 30, 2021													$ 180,769	$ (19,690)	$ 214	$ 1,026	$ 37,883	$ 200,202

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Common Class A [Member]
Dividends declared (in dollars per share)	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06
Common Class B [Member]
Dividends declared (in dollars per share)	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07
Foreign currency translation adjustment, tax expense	$ (12)	$ (333)	$ 9	$ 17	$ (3)	$ (27)
Change in unfunded SERP liability, tax	$ (28)	$ (28)	$ (28)	$ (20)	$ (20)	$ (20)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net earnings	$ 16,813	$ 9,244
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:
Depreciation and amortization	12,514	12,322
Stock-based compensation	1,752	1,780
Amortization of deferred financing costs	1,267	485
Deferred income taxes	(124)	(1,821)
Net unrealized (gains) losses on foreign currency revaluation	(373)	1,066
Gains on sale of property	(6,578)	(32)
Other, net	1,355	735
Changes in operating assets and liabilities:
Accounts receivable, net	(11,893)	6,517
Unbilled receivables	(13,958)	(3,065)
Inventories	(22,831)	4,419
Accounts payable	15,800	(4,597)
Accrued expenses	9,066	3,694
Other operating assets/liabilities, net	(4,524)	4,022
Net cash (used in) provided by operating activities	(1,714)	34,769
Cash flows from investing activities:
Purchases of property, plant and equipment	(4,154)	(4,501)
Payments for acquisitions, net of cash acquired	(16,811)	0
Proceeds from disposal/sale of property, plant and equipment	7,249	54
Net cash used in investing activities	(13,716)	(4,447)
Cash flows from financing activities:
Dividends paid to common stockholders	(2,447)	(2,422)
Deferred financing costs	(675)	(600)
Borrowings under revolving credit line	115,000	0
Repayments of revolving credit line	(14,500)	(10,000)
Repayments of long-term debt	(104,846)	(8,179)
Net cash used in financing activities	(7,468)	(21,201)
Effect of exchange rate changes on cash and cash equivalents	(80)	(281)
Net (decrease) increase in cash and cash equivalents	(22,978)	8,840
Cash and cash equivalents - beginning of period	84,939	72,289
Cash and cash equivalents - end of period	61,961	81,129
Supplementary information:
Income taxes, net of refunds received	2,024	1,571
Interest payments	1,683	3,408
Goodwill	25,846
Cash paid for acquisitions, net of cash acquired	16,811	(0)
RMS and EOS Acquisitions [Member]
Supplementary information:
Fair value of identifiable net assets acquired	18,055	0
Goodwill	2,659	0
Fair value of net assets acquired	20,714	0
Fair value of consideration transferred	20,714	0
Less: Cash acquired in acquisitions	$ (3,903)	$ 0

Note 1 - Basis of Presentation and Accounting Policies

9 Months Ended

Sep. 30, 2021

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 nine months ended September 30, 2021 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 fiscal year ended December 31, 2020.

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 fiscal year ended December 31, 2020. There were no significant changes to these accounting policies during the nine months ended September 30, 2021, except as discussed in “Recently Adopted Accounting Standards” below.

Reclassifications - During the fourth quarter of 2020, the Company changed its financial statement presentation related to gain/loss on its Supplemental Executive Retirement Plan ("SERP") investments. These gains/losses were previously included within cost of sales and selling, general and administrative expense. A gain on SERP investment in the amount of $0.7 million has been reclassified from cost of sales ($0.2 million) and selling, general and administrative expenses ($0.5 million), to other (expense) income, net on the accompanying condensed consolidated statement of operations for the three months ended September 30, 2020. A gain on SERP investment in the amount of $0.2 million has been reclassified from cost of sales ($0.1 million) and selling, general and administrative expense ($0.1 million), to other (expense) income, net on the accompanying condensed consolidated statement of operations for the nine months ended September 30, 2020.

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 2018-14, 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 Company adopted amendments in ASU 2018-14 on a retrospective basis effective January 1, 2021. The adoption of this guidance will modify the Company's annual disclosures for its defined benefit plan, but did not have any impact on the Company's consolidated financial statements.

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. This guidance was adopted by the Company effective January 1, 2021 and did not have a material impact on the Company’s consolidated financial statements.

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 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.

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). ASU 2020-04 provides temporary optional guidance on contract modifications and hedging accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) to alternative reference rates. In January 2021, the FASB issued ASU 2021-01, which refines the scope of Topic 848 and clarifies some of its guidance as part of the FASB’s monitoring of global reference rate activities. The new guidance was effective upon issuance, and the Company is allowed to elect to apply the amendments prospectively through December 31, 2022. Management is currently evaluating the impact of this accounting standard update on the Company's consolidated financial statements and related disclosures.

Note 2 - Acquisitions

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Business Combination Disclosure [Text Block]

2.	ACQUISITIONS

rms Connectors

On January 8, 2021, the Company acquired rms Connectors, Inc. (“rms Connectors” or "rms"), from rms Company Inc., a division of Cretex Companies, Inc., for $9.0 million in cash, including a working capital adjustment. rms Connectors is a highly regarded connector manufacturer with over 30 years of experience producing harsh environment circular connectors used in a variety of military and aerospace applications. This acquisition complements Bel's existing military and aerospace product portfolio and we anticipate will allow us to expand key customer relationships within these end markets and leverage the combined manufacturing resources to improve our operational efficiency. Originally based in Coon Rapids, Minnesota, the rms Connectors business was relocated into Bel's existing facilities during the second quarter of 2021, and is a component of Bel's Connectivity Solutions group. The transaction was funded with cash on hand.

EOS Power

On March 31, 2021, the Company completed the acquisition of EOS Power ("EOS") through a stock purchase agreement for $7.8 million, net of cash acquired, including a working capital adjustment. EOS, located in Mumbai, India, had sales of $12.0 million for the year ended December 31, 2020. EOS is expected to play a key role in Bel’s penetration of certain industrial and medical markets currently being served by EOS, with a strong line of high-power density and low-profile products with high convection ratings. In addition to new products and customers acquired, this acquisition has diversified Bel's manufacturing footprint in Asia. The EOS business is a component of Bel’s Power Solutions and Protection group. The transaction was funded with cash on hand.

The acquisitions of rms Connectors and EOS may hereafter be referred to collectively as either the "2021 Acquisitions" or the "2021 Acquired Companies". As of the respective acquisition dates, all of the assets acquired and liabilities assumed were recorded at their preliminary fair values and the Company's condensed consolidated results of operations for the nine months ended September 30, 2021 include the operating results of the 2021 Acquired Companies from their respective acquisition dates through September 30, 2021. During the nine months ended September 30, 2021, the Company incurred $0.5 million of acquisition-related costs related to the 2021 Acquisitions. No acquisition-related costs were incurred during the third quarter of 2021. These costs are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations.

While the final accounting related to the 2021 Acquisitions is not complete as of the filing date of this Quarterly Report on Form 10-Q, the following table depicts the Company's preliminary acquisition date fair values of the consideration transferred and identifiable net assets acquired in these transactions:

	Acquisition Date Fair Values
	rms			EOS			Total
Cash and cash equivalents	$	-		$	3,903		$	3,903
Accounts receivable		1,283			1,805			3,088
Inventories		3,946			1,878			5,824
Other current assets		9			1,340			1,349
Property, plant and equipment		4,035			721			4,756
Intangible assets		-			2,000			2,000
Other assets		-			60			60
Total identifiable assets		9,273			11,707			20,980

Accounts payable		(62	)		(2,148	)		(2,210	)
Accrued expenses		(209	)		(506	)		(715	)
Total liabilities assumed		(271	)		(2,654	)		(2,925	)
Net identifiable assets acquired		9,002			9,053			18,055
Goodwill		-			2,659			2,659
Net assets acquired	$	9,002		$	11,712		$	20,714


Cash paid	$	9,002		$	11,712		$	20,714
Fair value of consideration transferred	$	9,002		$	11,712		$	20,714

Measurement period adjustments recorded during the second quarter of 2021 on the EOS acquisition related to finalization of EOS' pre-acquisition balance sheet. During the third quarter of 2021, the Company completed its preliminary valuation of EOS whereby $2.0 million of intangible assets were identified and recorded on the condensed consolidated balance sheet as of the acquisition date. These intangible assets are comprised of customer relationships valued at $1.8 million (to be amortized over an estimated life of 16 years) and the tradename, valued at $0.2 million (to be amortized over an estimated life of 2 years). The preliminary valuations of the 2021 Acquisitions are still under review and subject to change. The Company expects to finalize these valuations and complete the purchase price allocations as soon as practicable but no later than one year from the respective acquisition dates.

Based upon the preliminary purchase price allocation above, there is currently no goodwill associated with the rms acquisition. Any goodwill recognized in connection with the EOS acquisition would be allocated to the Company's Power Solutions and Protection segment and would not be deductible for tax purposes.

The results of operations of the 2021 Acquired Companies have been included in the Company’s condensed consolidated financial statements for the periods subsequent to their respective acquisition dates. During the three and nine months ended September 30, 2021, the 2021 Acquired Companies contributed revenues of $4.3 million and $12.4 million, respectively, and estimated net earnings of $0.2 million and $1.6 million, respectively, to the Company since their respective acquisition dates. As EOS was acquired on March 31, 2021, this acquisition did not have any contribution to revenue or net earnings during the first quarter of 2021. The unaudited pro forma information below presents the combined operating results of the Company and the 2021 Acquired Companies assuming that the acquisition of the 2021 Acquired Companies had occurred as of January 1, 2020. The unaudited pro forma results are presented for illustrative purposes only. They do not reflect the realization of any potential cost savings, or any related integration costs. This unaudited pro forma information does not purport to be indicative of the results that would have actually been obtained if the 2021 Acquisitions had occurred as of January 1, 2020, nor is the pro forma data intended to be a projection of results that may be achieved in the future.

The following unaudited pro forma consolidated results of operations assume that the acquisition of the 2021 Acquired Companies was completed as of January 1, 2020:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Revenue, net	$	146,966	$	129,782	$	399,372	$	362,918
Net earnings		5,734		7,814		17,043		9,538
Earnings per Class A common share - basic and diluted		0.44		0.60		1.31		0.72
Earnings per Class B common share - basic and diluted		0.47		0.64		1.39		0.78

Note 3 - Revenue

9 Months Ended

Sep. 30, 2021

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 September 30, 2021*								*Nine Months Ended September 30, 2021*
	*Cinch Connectivity Solutions*		*Power Solutions and Protection*		*Magnetic Solutions*		*Consolidated*		*Cinch Connectivity Solutions*		*Power Solutions and Protection*		*Magnetic Solutions*		*Consolidated*

*By Geographic Region:*
North America	$	30,144	$	42,064	$	11,338	$	83,546	$	92,868	$	109,708	$	28,009	$	230,585
Europe		7,916		9,679		2,635		20,230		22,220		29,306		6,126		57,652
Asia		2,284		8,538		32,368		43,190		6,358		20,298		81,458		108,114
	$	40,344	$	60,281	$	46,341	$	146,966	$	121,446	$	159,312	$	115,593	$	396,351

*By Sales Channel:*
Direct to customer	$	23,476	$	36,154	$	38,022	$	97,652	$	72,898	$	96,759	$	95,104	$	264,761
Through distribution		16,868		24,127		8,319		49,314		48,548		62,553		20,489		131,590
	$	40,344	$	60,281	$	46,341	$	146,966	$	121,446	$	159,312	$	115,593	$	396,351

	*Three Months Ended September 30, 2020*								*Nine Months Ended September 30, 2020*
	*Cinch Connectivity Solutions*		*Power Solutions and Protection*		*Magnetic Solutions*		*Consolidated*		*Cinch Connectivity Solutions*		*Power Solutions and Protection*		*Magnetic Solutions*		*Consolidated*

*By Geographic Region:*
North America	$	28,933	$	31,770	$	8,111	$	68,814	$	86,244	$	83,522	$	22,315	$	192,081
Europe		7,458		8,714		1,972		18,144		23,576		26,993		4,890		55,459
Asia		2,144		7,309		28,081		37,534		6,723		18,567		76,812		102,102
	$	38,535	$	47,793	$	38,164	$	124,492	$	116,543	$	129,082	$	104,017	$	349,642

*By Sales Channel:*
Direct to customer	$	24,806	$	29,648	$	29,927	$	84,381	$	73,459	$	78,119	$	85,290	$	236,868
Through distribution		13,729		18,145		8,237		40,111		43,084		50,963		18,727		112,774
	$	38,535	$	47,793	$	38,164	$	124,492	$	116,543	$	129,082	$	104,017	$	349,642

The balances of the Company’s contract assets and contract liabilities at September 30, 2021 and December 31, 2020 are as follows:

	*September 30,*		*December 31,*
	*2021*		*2020*

Contract assets - current (unbilled receivables)	$	28,093	$	14,135
Contract liabilities - current (deferred revenue)	$	1,131	$	2,077

The change in balance of our unbilled receivables from December 31, 2020 to September 30, 2021 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 September 30, 2021 related to contracts that exceed one year in duration amounted to $28.5 million, with expected contract expiration dates that range from 2022 - 2025. It is expected that 59% of this aggregate amount will be recognized in 2022, 32% will be recognized in 2023 and the remainder will be recognized in years beyond 2023.

- 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
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Note 4 - Earnings Per Share

9 Months Ended

Sep. 30, 2021

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 nine months ended September 30, 2021 and 2020:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020

Numerator:
Net earnings	$	5,734	$	7,475	$	16,813	$	9,244
Less dividends declared:
Class A		129		129		386		388
Class B		719		717		2,149		2,133
Undistributed earnings	$	4,886	$	6,629	$	14,278	$	6,723

Undistributed earnings allocation - basic and diluted:
Class A undistributed earnings	$	811	$	1,104	$	2,375	$	1,124
Class B undistributed earnings		4,075		5,525		11,903		5,599
Total undistributed earnings	$	4,886	$	6,629	$	14,278	$	6,723

Net earnings allocation - basic and diluted:
Class A net earnings	$	940	$	1,233	$	2,761	$	1,512
Class B net earnings		4,794		6,242		14,052		7,732
Net earnings	$	5,734	$	7,475	$	16,813	$	9,244

Denominator:
Weighted-average shares outstanding:
Class A - basic and diluted		2,145		2,145		2,145		2,145
Class B - basic and diluted		10,269		10,223		10,237		10,176

Net earnings per share:
Class A - basic and diluted	$	0.44	$	0.57	$	1.29	$	0.70
Class B - basic and diluted	$	0.47	$	0.61	$	1.37	$	0.76

Note 5 - Fair Value Measurements

9 Months Ended

Sep. 30, 2021

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 September 30, 2021 and December 31, 2020, our available-for-sale securities primarily consisted of investments held in a rabbi trust which are intended to fund the Company’s SERP obligations. These securities are measured at fair value using quoted prices in active markets for identical assets (Level 1 inputs) and amounted to $0.4 million at September 30, 2021 and $0.7 million at December 31, 2020. During the first quarter of 2021, the Company entered into foreign exchange forward contracts, the fair value of which was less than $0.1 million at September 30, 2021. 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 nine months ended September 30, 2021 or September 30, 2020. There were no changes to the Company’s valuation techniques used to measure asset fair values on a recurring or nonrecurring basis during the nine months ended September 30, 2021 or September 30, 2020.

There were no financial assets accounted for at fair value on a nonrecurring basis as of September 30, 2021 or December 31, 2020.

The Company has other financial instruments, such as cash and cash equivalents, accounts receivable, unbilled receivables, 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 September 30, 2021 and December 31, 2020, the estimated fair value of total debt was $112.5 million and $118.4 million, respectively, compared to a carrying amount of $112.0 million and $115.6 million, respectively. The Company did not have any other financial liabilities within the scope of the fair value disclosure requirements as of September 30, 2021.

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 nine months ended September 30, 2021. Based on the Company's assessment, it was concluded that no triggering events occurred during the nine months ended September 30, 2021 or 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

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Inventory Disclosure [Text Block]

6.	INVENTORIES

The components of inventories are as follows:

	September 30,		December 31,
	2021		2020
Raw materials	$	61,481	$	40,846
Work in progress		31,010		25,916
Finished goods		35,688		33,371
Inventories	$	128,179	$	100,133

Note 7 - Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

7.	PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	September 30,			December 31,
	2021			2020
Land	$	1,108		$	1,115
Buildings and improvements		20,919			19,917
Machinery and equipment		125,895			124,114
Construction in progress		2,261			1,603
		150,183			146,749
Accumulated depreciation		(114,630	)		(112,248	)
Property, plant and equipment, net	$	35,553		$	34,501

Depreciation expense was $2.3 million for each of the three month periods ended September 30, 2021 and 2020 and $7.2 million and $7.0 million, respectively, for the nine months ended September 30, 2021 and 2020. 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.

At September 30, 2021, a total of $1.6 million of property was classified as assets held for sale on the accompanying condensed consolidated balance sheet related to our corporate headquarters in Jersey City, New Jersey.

Note 8 - Accrued Expenses

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

8.	ACCRUED EXPENSES

Accrued expenses consist of the following:

	September 30,		December 31,
	2021		2020
Sales commissions	$	2,526	$	2,574
Subcontracting labor		1,622		758
Salaries, bonuses and related benefits		20,355		17,165
Warranty accrual		1,129		1,010
Other		12,617		6,969
	$	38,249	$	28,476

The change in warranty accrual during the nine months ended September 30, 2021 primarily related to repair costs incurred and adjustments to pre-existing warranties. There were no new material warranty charges incurred during the nine months ended September 30, 2021.

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 nine months ended September 30, 2021 are as follows:

			Nine Months Ended
			September 30, 2021
	Liability at				Cash Payments			Liability at
	December 31,		New		and Other			September 30,
	2020		Charges		Settlements			2021
Severance costs	$	124	$	675	$	(550	)	$	249
Other restructuring costs		-		-		-			-
Total	$	124	$	675	$	(550	)	$	249

Note 9 - Debt

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Debt Disclosure [Text Block]

DEBT

At December 31, 2020, the Company had a Credit and Security Agreement with KeyBank National Association and the other lenders party thereto dated as of June 19, 2014 and amended and restated as of June 30, 2014 (as amended, the "Prior Credit Agreement" or the "Prior CSA"). The Prior CSA consisted of a term loan, with outstanding borrowings of $104.8 million, and a $75 million revolving credit facility, with $12.0 million in outstanding borrowings at December 31, 2020. The carrying value of the debt on the condensed consolidated balance sheet at December 31, 2020 is reflected net of $1.3 million of deferred financing costs.

On September 2, 2021, the Company entered into an Amended and Restated Credit and Security Agreement (the “New Credit Agreement”), by and among the Company, as the borrower, KeyBank National Association (“KeyBank”), as administrative agent, swing line lender and issuing lender, and the other lenders identified therein. The New Credit Agreement amends, restates and supersedes Bel’s Prior Credit Agreement. The New Credit Agreement provides Bel with a $175 million 5-year senior secured revolving credit facility (the “New Revolver”), with a sublimit of up to $10 million available for letters of credit and a sublimit of up to $5 million available for swing line loans. The New Revolver replaces and refinances the $75 million revolving credit facility and the $125 million term loan facility that had existed under the Prior Credit Agreement.

Concurrent with its entry into the New Credit Agreement, the Company borrowed $115 million under the New Revolver facility, of which approximately $101.9 million and $12.0 million, respectively, was applied to discharge and satisfy in full the remaining obligations outstanding under the former term loan and the previous revolving credit facility that had existed under the Prior Credit Agreement.

Under the terms of the New Credit Agreement, the Company is entitled, subject to the satisfaction of certain conditions, to request additional commitments under the New Revolver or the addition of a term loan facility in the aggregate principal amount of up to $100 million for all such increases (revolver and term) to the extent that existing or new lenders agree to provide such additional commitments and/or term loans. In addition to requesting loans denominated in U.S. dollars, the New Credit Agreement provides that up to a U.S. Dollar equivalent principal amount of $15 million of the New Revolver may be borrowed by Bel in alternate foreign currencies including Euros, Pounds Sterling, Japanese Yen and such other currency as requested by Bel and consented to by KeyBank and each lender.

In connection with the effectiveness of the New Credit Agreement, the Company and certain of the Company’s material U.S. subsidiaries (together with the Company, the “Loan Parties”) provided to the administrative agent, for the benefit of the lenders, confirmation of the continuing use and effectiveness of each guaranty of payment and each security document executed and delivered by the Loan Parties in connection with the Prior Credit Agreement. As a result, consistent with the Prior Credit Agreement, the obligations of the Company under the New Credit Agreement are guaranteed by the Loan Parties’ material U.S. subsidiaries, and 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 New Credit Agreement will bear interest, generally payable quarterly, at a rate equal to, at the Company's option, either (1) LIBOR, plus a margin ranging from 1.125% per annum to 2.125% per annum depending on the Company’s leverage ratio, or (2)(a) an alternate “Base Rate,” which is the highest of (i) KeyBank’s prime rate, (ii) the federal funds rate plus 0.50% and (iii) the LIBOR rate with a maturity of one month plus 1%, plus (b) a margin ranging from 0.125% per annum to 1.125% per annum, depending on the Company’s leverage ratio. Additionally, the New Credit agreement contains standard provisions and procedures for transition to a benchmark other than the Eurodollar Rate to determine the applicable interest rate (including reference to the secured overnight financing rate (SOFR) published by the Federal Reserve Bank of New York), with provisions applying that alternate benchmark where applicable following the replacement of LIBOR. Pursuant to the terms of the New Credit Agreement, the Company has agreed to pay to KeyBank, as administrative agent for the ratable account of the revolving lenders in consideration for their commitments in respect of the New Revolver, a commitment fee due quarterly in arrears and calculated based on the average unused amount of the facility (exclusive of swing line exposure), at a rate ranging from 0.2% per annum to 0.3% per annum, depending on the Company’s leverage ratio.

Revolving loans borrowed under the New Credit Agreement mature on September 1, 2026, and the commitments with respect to the New Revolver will automatically terminate on such date.

The New Credit Agreement contains customary representations and warranties, covenants and events of default. In addition, the New Credit Agreement contains financial covenants that measure (i) the ratio of the Company’s total funded indebtedness, on a consolidated basis, less the aggregate amount of all unencumbered cash and cash equivalents, to the amount of the Company’s consolidated EBITDA (“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 New Credit Agreement 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 September 30, 2021, the Company was in compliance with its debt covenants, including its most restrictive covenant, the Leverage Ratio.

The weighted-average interest rate in effect was 1.58% at September 30, 2021 and 2.19% at December 31, 2020 and consisted of LIBOR plus the Company’s credit spread, as determined per the terms of the CSA. The Company incurred $1.5 million and $1.2 million of interest expense during the three months ended September 30, 2021 and September 30, 2020, respectively, and $3.0 million and $3.8 million of interest expense during the nine months ended September 30, 2021 and September 30, 2020, respectively. The interest expense for the three months ended September 30, 2021 included the remaining $0.8 million of deferred financing costs associated with the extinguishment of debt under the Prior Credit Agreement. The Company recorded $0.7 million of deferred financing costs associated with the New Credit Agreement, which are included in other current assets and other assets on the accompanying condensed consolidated balance sheet at September 30, 2021 and will be amortized to interest expense over the five year term of the New Credit Agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Note 10 - Income Taxes

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Income Tax Disclosure [Text Block]

10.

INCOME TAXES

The Company's estimated taxable income in future periods is not on a legal entity basis and therefore income tax expense for the interim period is not measured using the annual effective tax rate ("AETR") method. The Company is working on developing reliable estimates for future periods. 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 2017 and for state examinations before 2014. Regarding foreign subsidiaries, the Company is no longer subject to examination by tax authorities for years before 2010 in Asia and generally 2012 in Europe.

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 condensed consolidated financial statements at September 30, 2021. The Company’s liabilities for uncertain tax positions totaled $27.6 million and $28.5 million at September 30, 2021 and December 31, 2020, respectively, of which $2.4 million is included in other current liabilities at December 31, 2020 and was resolved during 2021 by way of expiration of the related statutes 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 nine months ended September 30, 2021 and 2020, the Company recognized $0.5 million and $0.4 million, respectively, in interest and penalties in the condensed consolidated statements of operations during each period. The Company has approximately $4.7 million and $5.2 million, respectively, accrued for the payment of interest and penalties at September 30, 2021 and December 31, 2020, 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.

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+ Details

Note 11 - Retirement Fund and Profit Sharing Plan

9 Months Ended

Sep. 30, 2021

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 expense for the three months ended September 30, 2021 and 2020 amounted to $0.3 million in both periods. The expense for the nine months ended September 30, 2021 and 2020 amounted to $0.9 million and $0.8 million, respectively. The Company’s matching contribution is made in the form of Bel Fuse Inc. Class A common stock. As of September 30, 2021, the plan owned 292,569 and 103,511 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 September 30, 2021 and 2020 amounted to $0.6 million and $0.1 million, respectively, and the expense for the nine months ended September 30, 2021 and 2020 amounted to $1.9 million and $0.2 million, respectively. As of September 30, 2021, 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				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Service cost	$	169	$	150	$	508	$	450
Interest cost		135		159		405		477
Net amortization		127		86		382		258
Net periodic benefit cost	$	431	$	395	$	1,295	$	1,185

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:

	September 30,		December 31,
	2021		2020
Prior service cost	$	492	$	586
Net loss		1,487		1,773
	$	1,979	$	2,359

- Definition

The entire disclosure for retirement benefits.

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+ Details

Note 12 - Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

12.

ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of accumulated other comprehensive loss at September 30, 2021 and December 31, 2020 are summarized below:

	September 30,			December 31,
	2021			2020

Foreign currency translation adjustment, net of taxes of ($414) at September 30, 2021 and ($750) at December 31, 2020	$	(15,113	)	$	(13,142	)
Unrealized holding gains on available-for-sale securities, net of taxes of ($7) at September 30, 2021 and $0 at December 31, 2020		64			19
Unfunded SERP liability, net of taxes of ($1,294) at September 30, 2021 and ($1,377) at December 31, 2020		(4,641	)		(4,940	)

Accumulated other comprehensive loss	$	(19,690	)	$	(18,063	)

Changes in accumulated other comprehensive loss by component during the nine months ended September 30, 2021 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, 2020	$	(13,142	)	$	19	$	(4,940	)		$	(18,063	)
Other comprehensive (loss) income before reclassifications		(1,971	)		45		43				(1,883	)
Amount reclassified from accumulated other comprehensive loss		-			-		256		(a)		256
Net current period other comprehensive (loss) income		(1,971	)		45		299				(1,627	)

Balance at September 30, 2021	$	(15,113	)	$	64	$	(4,641	)		$	(19,690	)

(a) This reclassification relates to the amortization of prior service costs and gains/losses associated with the Company's SERP Plan. This expense is reflected in other (expense) income, net on the accompanying condensed consolidated statement of operations.

Note 13 - Commitments and Contingencies

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

13.

COMMITMENTS AND CONTINGENCIES

Legal Proceedings

On June 23, 2021, a patent infringement lawsuit styled Bel Power Solutions, Inc. v. Monolithic Power Systems, Inc., Case Number 6:21cv00655, was filed in the United States District Court for the Western District of Texas (Waco Division) by Bel Power Solutions, Inc. against Monolithic Power Systems, Inc. for infringement of various patents directed towards systems, methods and articles of manufacture that provide a substantial improvement in power control for circuits, including novel and unique point-of-load regulators. A parallel Complaint asserting the same patents against Monolithic Power Systems, Inc. was also filed in the United States District Court for the District of Delaware in order to safeguard against potential venue challenges. The Company has made a demand for a jury trial in both Complaints.

In connection with the Company's 2014 acquisition of the Power-One Power Solutions business ("Power Solutions") of ABB Ltd., 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 September 30, 2021 and December 31, 2020.

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

9 Months Ended

Sep. 30, 2021

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 September 30, 2021
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	40,344		$	60,281		$	46,341		$	-		$	146,966
Gross Profit		10,003			15,762			10,722			(513	)		35,974
Gross Profit %		24.8	%		26.1	%		23.1	%		nm			24.5	%

	Three Months Ended September 30, 2020
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	38,535		$	47,793		$	38,164		$	-		$	124,492
Gross Profit		11,219			11,552			10,793			(255	)		33,309
Gross Profit %		29.1	%		24.2	%		28.3	%		nm			26.8	%

	Nine Months Ended September 30, 2021
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	121,446		$	159,312		$	115,593		$	-		$	396,351
Gross Profit		32,826			40,917			24,026			(2,652	)		95,117
Gross Profit %		27.0	%		25.7	%		20.8	%		nm			24.0	%

	Nine Months Ended September 30, 2020
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	116,543		$	129,082		$	104,017		$	-		$	349,642
Gross Profit		33,950			31,085			26,198			(877	)		90,356
Gross Profit %		29.1	%		24.1	%		25.2	%		nm			25.8	%

- 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

Note 15 - Subsequent Event

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Subsequent Events [Text Block]

15.

SUBSEQUENT EVENT

In the second quarter of 2021, the Board of Directors approved the Company to enter into a hedging program related to its exposure to foreign exchange fluctuations between the Chinese Renminbi (CNY) and the U.S. Dollar (USD). On October 26, 2021, the Company entered into multiple forward contracts to hedge a portion of its CNY exposure related to intercompany product purchases. Under these foreign exchange forward contracts, the Company is committed to purchasing CNY 119,812,500 for $18.6 million. These contracts mature at various dates through November 30, 2022.

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2021
Accounting Policies [Abstract]
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications - During the fourth quarter of 2020, the Company changed its financial statement presentation related to gain/loss on its Supplemental Executive Retirement Plan ("SERP") investments. These gains/losses were previously included within cost of sales and selling, general and administrative expense. A gain on SERP investment in the amount of $0.7 million has been reclassified from cost of sales ($0.2 million) and selling, general and administrative expenses ($0.5 million), to other (expense) income, net on the accompanying condensed consolidated statement of operations for the three months ended September 30, 2020. A gain on SERP investment in the amount of $0.2 million has been reclassified from cost of sales ($0.1 million) and selling, general and administrative expense ($0.1 million), to other (expense) income, net on the accompanying condensed consolidated statement of operations for the nine months ended September 30, 2020. 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 2018-14, 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 Company adopted amendments in ASU 2018-14 on a retrospective basis effective January 1, 2021. The adoption of this guidance will modify the Company's annual disclosures for its defined benefit plan, but did not have any impact on the Company's consolidated financial statements. 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. This guidance was adopted by the Company effective January 1, 2021 and did not have a material impact on the Company’s consolidated financial statements. *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 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. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). ASU 2020-04 provides temporary optional guidance on contract modifications and hedging accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) to alternative reference rates. In January 2021, the FASB issued ASU 2021-01, which refines the scope of Topic 848 and clarifies some of its guidance as part of the FASB’s monitoring of global reference rate activities. The new guidance was effective upon issuance, and the Company is allowed to elect to apply the amendments prospectively through December 31, 2022. Management is currently evaluating the impact of this accounting standard update on the Company's consolidated financial statements and related disclosures.

Note 2 - Acquisitions (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

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

	Acquisition Date Fair Values
	rms			EOS			Total
Cash and cash equivalents	$	-		$	3,903		$	3,903
Accounts receivable		1,283			1,805			3,088
Inventories		3,946			1,878			5,824
Other current assets		9			1,340			1,349
Property, plant and equipment		4,035			721			4,756
Intangible assets		-			2,000			2,000
Other assets		-			60			60
Total identifiable assets		9,273			11,707			20,980

Accounts payable		(62	)		(2,148	)		(2,210	)
Accrued expenses		(209	)		(506	)		(715	)
Total liabilities assumed		(271	)		(2,654	)		(2,925	)
Net identifiable assets acquired		9,002			9,053			18,055
Goodwill		-			2,659			2,659
Net assets acquired	$	9,002		$	11,712		$	20,714


Cash paid	$	9,002		$	11,712		$	20,714
Fair value of consideration transferred	$	9,002		$	11,712		$	20,714

Business Acquisition, Pro Forma Information [Table Text Block]

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Revenue, net	$	146,966	$	129,782	$	399,372	$	362,918
Net earnings		5,734		7,814		17,043		9,538
Earnings per Class A common share - basic and diluted		0.44		0.60		1.31		0.72
Earnings per Class B common share - basic and diluted		0.47		0.64		1.39		0.78

Note 3 - Revenue (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Disaggregation of Revenue [Table Text Block]

	*Three Months Ended September 30, 2021*								*Nine Months Ended September 30, 2021*
	*Cinch Connectivity Solutions*		*Power Solutions and Protection*		*Magnetic Solutions*		*Consolidated*		*Cinch Connectivity Solutions*		*Power Solutions and Protection*		*Magnetic Solutions*		*Consolidated*

*By Geographic Region:*
North America	$	30,144	$	42,064	$	11,338	$	83,546	$	92,868	$	109,708	$	28,009	$	230,585
Europe		7,916		9,679		2,635		20,230		22,220		29,306		6,126		57,652
Asia		2,284		8,538		32,368		43,190		6,358		20,298		81,458		108,114
	$	40,344	$	60,281	$	46,341	$	146,966	$	121,446	$	159,312	$	115,593	$	396,351

*By Sales Channel:*
Direct to customer	$	23,476	$	36,154	$	38,022	$	97,652	$	72,898	$	96,759	$	95,104	$	264,761
Through distribution		16,868		24,127		8,319		49,314		48,548		62,553		20,489		131,590
	$	40,344	$	60,281	$	46,341	$	146,966	$	121,446	$	159,312	$	115,593	$	396,351

	*Three Months Ended September 30, 2020*								*Nine Months Ended September 30, 2020*
	*Cinch Connectivity Solutions*		*Power Solutions and Protection*		*Magnetic Solutions*		*Consolidated*		*Cinch Connectivity Solutions*		*Power Solutions and Protection*		*Magnetic Solutions*		*Consolidated*

*By Geographic Region:*
North America	$	28,933	$	31,770	$	8,111	$	68,814	$	86,244	$	83,522	$	22,315	$	192,081
Europe		7,458		8,714		1,972		18,144		23,576		26,993		4,890		55,459
Asia		2,144		7,309		28,081		37,534		6,723		18,567		76,812		102,102
	$	38,535	$	47,793	$	38,164	$	124,492	$	116,543	$	129,082	$	104,017	$	349,642

*By Sales Channel:*
Direct to customer	$	24,806	$	29,648	$	29,927	$	84,381	$	73,459	$	78,119	$	85,290	$	236,868
Through distribution		13,729		18,145		8,237		40,111		43,084		50,963		18,727		112,774
	$	38,535	$	47,793	$	38,164	$	124,492	$	116,543	$	129,082	$	104,017	$	349,642

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

	*September 30,*		*December 31,*
	*2021*		*2020*

Contract assets - current (unbilled receivables)	$	28,093	$	14,135
Contract liabilities - current (deferred revenue)	$	1,131	$	2,077

Note 4 - Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020

Numerator:
Net earnings	$	5,734	$	7,475	$	16,813	$	9,244
Less dividends declared:
Class A		129		129		386		388
Class B		719		717		2,149		2,133
Undistributed earnings	$	4,886	$	6,629	$	14,278	$	6,723

Undistributed earnings allocation - basic and diluted:
Class A undistributed earnings	$	811	$	1,104	$	2,375	$	1,124
Class B undistributed earnings		4,075		5,525		11,903		5,599
Total undistributed earnings	$	4,886	$	6,629	$	14,278	$	6,723

Net earnings allocation - basic and diluted:
Class A net earnings	$	940	$	1,233	$	2,761	$	1,512
Class B net earnings		4,794		6,242		14,052		7,732
Net earnings	$	5,734	$	7,475	$	16,813	$	9,244

Denominator:
Weighted-average shares outstanding:
Class A - basic and diluted		2,145		2,145		2,145		2,145
Class B - basic and diluted		10,269		10,223		10,237		10,176

Net earnings per share:
Class A - basic and diluted	$	0.44	$	0.57	$	1.29	$	0.70
Class B - basic and diluted	$	0.47	$	0.61	$	1.37	$	0.76

Note 6 - Inventories (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	September 30,		December 31,
	2021		2020
Raw materials	$	61,481	$	40,846
Work in progress		31,010		25,916
Finished goods		35,688		33,371
Inventories	$	128,179	$	100,133

Note 7 - Property, Plant and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Property, Plant and Equipment [Table Text Block]

	September 30,			December 31,
	2021			2020
Land	$	1,108		$	1,115
Buildings and improvements		20,919			19,917
Machinery and equipment		125,895			124,114
Construction in progress		2,261			1,603
		150,183			146,749
Accumulated depreciation		(114,630	)		(112,248	)
Property, plant and equipment, net	$	35,553		$	34,501

Note 8 - Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Schedule of Accrued Liabilities [Table Text Block]

	September 30,		December 31,
	2021		2020
Sales commissions	$	2,526	$	2,574
Subcontracting labor		1,622		758
Salaries, bonuses and related benefits		20,355		17,165
Warranty accrual		1,129		1,010
Other		12,617		6,969
	$	38,249	$	28,476

Restructuring and Related Costs [Table Text Block]

			Nine Months Ended
			September 30, 2021
	Liability at				Cash Payments			Liability at
	December 31,		New		and Other			September 30,
	2020		Charges		Settlements			2021
Severance costs	$	124	$	675	$	(550	)	$	249
Other restructuring costs		-		-		-			-
Total	$	124	$	675	$	(550	)	$	249

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

9 Months Ended

Sep. 30, 2021

Notes Tables

Schedule of Net Benefit Costs [Table Text Block]

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Service cost	$	169	$	150	$	508	$	450
Interest cost		135		159		405		477
Net amortization		127		86		382		258
Net periodic benefit cost	$	431	$	395	$	1,295	$	1,185

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

	September 30,		December 31,
	2021		2020
Prior service cost	$	492	$	586
Net loss		1,487		1,773
	$	1,979	$	2,359

Note 12 - Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

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

	September 30,			December 31,
	2021			2020

Foreign currency translation adjustment, net of taxes of ($414) at September 30, 2021 and ($750) at December 31, 2020	$	(15,113	)	$	(13,142	)
Unrealized holding gains on available-for-sale securities, net of taxes of ($7) at September 30, 2021 and $0 at December 31, 2020		64			19
Unfunded SERP liability, net of taxes of ($1,294) at September 30, 2021 and ($1,377) at December 31, 2020		(4,641	)		(4,940	)

Accumulated other comprehensive loss	$	(19,690	)	$	(18,063	)

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, 2020	$	(13,142	)	$	19	$	(4,940	)		$	(18,063	)
Other comprehensive (loss) income before reclassifications		(1,971	)		45		43				(1,883	)
Amount reclassified from accumulated other comprehensive loss		-			-		256		(a)		256
Net current period other comprehensive (loss) income		(1,971	)		45		299				(1,627	)

Balance at September 30, 2021	$	(15,113	)	$	64	$	(4,641	)		$	(19,690	)

Note 14 - Segments (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

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

	Three Months Ended September 30, 2021
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	40,344		$	60,281		$	46,341		$	-		$	146,966
Gross Profit		10,003			15,762			10,722			(513	)		35,974
Gross Profit %		24.8	%		26.1	%		23.1	%		nm			24.5	%

	Three Months Ended September 30, 2020
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	38,535		$	47,793		$	38,164		$	-		$	124,492
Gross Profit		11,219			11,552			10,793			(255	)		33,309
Gross Profit %		29.1	%		24.2	%		28.3	%		nm			26.8	%

	Nine Months Ended September 30, 2021
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	121,446		$	159,312		$	115,593		$	-		$	396,351
Gross Profit		32,826			40,917			24,026			(2,652	)		95,117
Gross Profit %		27.0	%		25.7	%		20.8	%		nm			24.0	%

	Nine Months Ended September 30, 2020
	Cinch Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Revenue	$	116,543		$	129,082		$	104,017		$	-		$	349,642
Gross Profit		33,950			31,085			26,198			(877	)		90,356
Gross Profit %		29.1	%		24.1	%		25.2	%		nm			25.8	%

Note 1 - Basis of Presentation and Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Cost of Goods and Services Sold, Total	$ 110,992	$ 91,183	$ 301,234	$ 259,286
Nonoperating Income (Expense), Total	(201)	(483)	458	(1,390)
Supplemental Employee Retirement Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	$ 431	395	$ 1,295	1,185
Revision of Prior Period, Adjustment [Member] \| Cost of Sales Reclassified to Other (Expense) Income, Net [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total				200
Cost of Goods and Services Sold, Total		200
Nonoperating Income (Expense), Total				100
Revision of Prior Period, Adjustment [Member] \| Selling, General and Administrative Expenses Reclassified to Other (Expense) Income, Net [Member]
Cost of Goods and Services Sold, Total		500
Nonoperating Income (Expense), Total				$ 100
Revision of Prior Period, Adjustment [Member] \| Supplemental Employee Retirement Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total		$ (700)

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands			3 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2021	Jan. 08, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Payments to Acquire Businesses, Net of Cash Acquired, Total				$ 16,811	$ (0)
Goodwill, Ending Balance			$ 25,846	25,846		$ 23,966
EOS Power Panama Inc. [Member]
Revenues, Total						$ 12,000
Business Combination, Acquisition Related Costs			0	500
rms Connectors, Inc. [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total		$ 9,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred	$ (7,800)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		0
Goodwill, Ending Balance		$ 0
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			4,300	12,400
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			200	1,600
EOS Power Panama Inc. [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	2,000		2,000	2,000
Goodwill, Ending Balance	$ 2,659
EOS Power Panama Inc. [Member] \| Customer Relationships [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 1,800	1,800
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)			16 years
EOS Power Panama Inc. [Member] \| Trade Names [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 200	$ 200
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)			2 years

Note 2 - Acquisitions - Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands			9 Months Ended
	Mar. 31, 2021	Jan. 08, 2021	Sep. 30, 2021	Dec. 31, 2020
Goodwill, Ending Balance			$ 25,846	$ 23,966
rms Connectors, Inc. [Member]
Cash and cash equivalents		$ 0
Accounts receivable		1,283
Inventories		3,946
Other current assets		9
Property, plant and equipment		4,035
Intangible assets		0
Other assets		0
Total identifiable assets		9,273
Accounts payable		(62)
Accrued expenses		(209)
Total liabilities assumed		(271)
Net identifiable assets acquired		9,002
Goodwill, Ending Balance		0
Net assets acquired		9,002
Cash paid		9,002
Fair value of consideration transferred		$ 9,002
EOS Power Panama Inc. [Member]
Cash and cash equivalents	$ 3,903
Accounts receivable	1,805
Inventories	1,878
Other current assets	1,340
Property, plant and equipment	721
Intangible assets	2,000		2,000
Other assets	60
Total identifiable assets	11,707
Accounts payable	(2,148)
Accrued expenses	(506)
Total liabilities assumed	(2,654)
Net identifiable assets acquired	9,053
Goodwill, Ending Balance	2,659
Net assets acquired	11,712
Cash paid	11,712
Fair value of consideration transferred	$ 11,712
The 2021 Acquisitions [Member]
Cash and cash equivalents			3,903
Accounts receivable			3,088
Inventories			5,824
Other current assets			1,349
Property, plant and equipment			4,756
Intangible assets			2,000
Other assets			60
Total identifiable assets			20,980
Accounts payable			(2,210)
Accrued expenses			(715)
Total liabilities assumed			(2,925)
Net identifiable assets acquired			18,055
Goodwill, Ending Balance			2,659
Net assets acquired			20,714
Cash paid			20,714
Fair value of consideration transferred			$ 20,714

Note 2 - Acquisitions - Proforma Results (Details) - The 2021 Acquisitions [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue, net	$ 146,966	$ 129,782	$ 399,372	$ 362,918
Net earnings	$ 5,734	$ 7,814	$ 17,043	$ 9,538
Common Class A [Member]
Earnings per common share - basic and diluted (in dollars per share)	$ 0.44	$ 0.60	$ 1.31	$ 0.72
Common Class B [Member]
Earnings per common share - basic and diluted (in dollars per share)	$ 0.47	$ 0.64	$ 1.39	$ 0.78

Note 3 - Revenue 1 (Details Textual) $ in Millions	Sep. 30, 2021 USD ($)
Revenue, Remaining Performance Obligation, Amount	$ 28.5

Note 3 - Revenue 2 (Details Textual)	Sep. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Percentage	59.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Percentage	32.00%

Note 3 - Revenue - Disaggregation of Revenue by Product Group and Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 146,966	$ 124,492	$ 396,351	$ 349,642
Sales Channel, Directly to Consumer [Member]
Revenue	97,652	84,381	264,761	236,868
Sales Channel, Through Intermediary [Member]
Revenue	49,314	40,111	131,590	112,774
Connectivity Solutions [Member]
Revenue	40,344	38,535	121,446	116,543
Connectivity Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Revenue	23,476	24,806	72,898	73,459
Connectivity Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Revenue	16,868	13,729	48,548	43,084
Power Solutions and Protection [Member]
Revenue	60,281	47,793	159,312	129,082
Power Solutions and Protection [Member] \| Sales Channel, Directly to Consumer [Member]
Revenue	36,154	29,648	96,759	78,119
Power Solutions and Protection [Member] \| Sales Channel, Through Intermediary [Member]
Revenue	24,127	18,145	62,553	50,963
Magnetic Solutions [Member]
Revenue	46,341	38,164	115,593	104,017
Magnetic Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Revenue	38,022	29,927	95,104	85,290
Magnetic Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Revenue	8,319	8,237	20,489	18,727
North America [Member]
Revenue	83,546	68,814	230,585	192,081
North America [Member] \| Connectivity Solutions [Member]
Revenue	30,144	28,933	92,868	86,244
North America [Member] \| Power Solutions and Protection [Member]
Revenue	42,064	31,770	109,708	83,522
North America [Member] \| Magnetic Solutions [Member]
Revenue	11,338	8,111	28,009	22,315
Europe [Member]
Revenue	20,230	18,144	57,652	55,459
Europe [Member] \| Connectivity Solutions [Member]
Revenue	7,916	7,458	22,220	23,576
Europe [Member] \| Power Solutions and Protection [Member]
Revenue	9,679	8,714	29,306	26,993
Europe [Member] \| Magnetic Solutions [Member]
Revenue	2,635	1,972	6,126	4,890
Asia [Member]
Revenue	43,190	37,534	108,114	102,102
Asia [Member] \| Connectivity Solutions [Member]
Revenue	2,284	2,144	6,358	6,723
Asia [Member] \| Power Solutions and Protection [Member]
Revenue	8,538	7,309	20,298	18,567
Asia [Member] \| Magnetic Solutions [Member]
Revenue	$ 32,368	$ 28,081	$ 81,458	$ 76,812

- 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=123359005&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=123359005&loc=d3e9031-108599

Reference 3: 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=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: 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=123351226&loc=SL49130545-203045

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 3 - Revenue - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Contract assets - current (unbilled receivables)	$ 28,093	$ 14,135
Contract liabilities - current (deferred revenue)	$ 1,131	$ 2,077

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						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Net earnings	$ 5,734	$ 7,880	$ 3,199	$ 7,475	$ 5,573	$ (3,804)	$ 16,813	$ 9,244
Undistributed earnings	4,886			6,629			14,278	6,723
Common Class A [Member]
Net earnings	940			1,233			2,761	1,512
Less dividends declared	129	129	128	129	129	130	386	388
Undistributed earnings	$ 811			$ 1,104			$ 2,375	$ 1,124
Weighted-average shares outstanding, basic and diluted (in shares)	2,145			2,145			2,145	2,145
Common shares - basic and diluted (in dollars per share)	$ 0.44			$ 0.57			$ 1.29	$ 0.70
Common Class B [Member]
Net earnings	$ 4,794			$ 6,242			$ 14,052	$ 7,732
Less dividends declared	719	$ 714	$ 716	717	$ 707	$ 709	2,149	2,133
Undistributed earnings	$ 4,075			$ 5,525			$ 11,903	$ 5,599
Weighted-average shares outstanding, basic and diluted (in shares)	10,269			10,223			10,237	10,176
Common shares - basic and diluted (in dollars per share)	$ 0.47			$ 0.61			$ 1.37	$ 0.76

- 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	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Long-term Debt, Fair Value	$ 112,500		$ 118,400
Long-term Debt, Gross	112,000		115,600
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	$ 400		$ 700

Note 6 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Raw materials	$ 61,481	$ 40,846
Work in progress	31,010	25,916
Finished goods	35,688	33,371
Inventories	$ 128,179	$ 100,133

Note 7 - Property, Plant and Equipment, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Depreciation, Total	$ 2,300	$ 2,300	$ 7,200	$ 7,000
Assets Held-for-sale, Not Part of Disposal Group, Current, Total	$ 1,626		$ 1,626		$ 0

Note 7 - Property, Plant and Equipment, Net - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property, plant and equipment, gross	$ 150,183	$ 146,749
Accumulated depreciation	(114,630)	(112,248)
Property, plant and equipment, net	35,553	34,501
Land [Member]
Property, plant and equipment, gross	1,108	1,115
Building and Building Improvements [Member]
Property, plant and equipment, gross	20,919	19,917
Machinery and Equipment [Member]
Property, plant and equipment, gross	125,895	124,114
Construction in Progress [Member]
Property, plant and equipment, gross	$ 2,261	$ 1,603

Note 8 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Sales commissions	$ 2,526	$ 2,574
Subcontracting labor	1,622	758
Salaries, bonuses and related benefits	20,355	17,165
Warranty accrual	1,129	1,010
Other	12,617	6,969
Accrued Liabilities, Current, Total	$ 38,249	$ 28,476

Note 8 - Accrued Expenses - Activity and Liability Balances Related to Restructuring Costs (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021 USD ($)
Liability, beginning balance	$ 124
New charges	675
Cash payment and other settlements	(550)
Liability, ending balance	249
Employee Severance [Member]
Liability, beginning balance	124
New charges	675
Cash payment and other settlements	(550)
Liability, ending balance	249
Other Restructuring [Member]
Liability, beginning balance	0
New charges	0
Cash payment and other settlements	0
Liability, ending balance	$ 0

Note 9 - Debt (Details Textual) - Credit and Security Agreement with KeyBank [Member] - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Sep. 02, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Long-term Debt, Total		$ 115.0		$ 115.0
Debt Issuance Costs, Net, Total		$ 0.7		$ 0.7		$ 1.3
Line of Credit Facility, Percentage of Capital Stock of Foreign Subsidiaries Collateralized Security	65.00%
LIBOR Additional Rate	1.00%
Debt, Weighted Average Interest Rate		1.58%		1.58%		2.19%
Interest Expense, Debt, Total		$ 1.5	$ 1.2	$ 3.0	$ 3.8
Write off of Deferred Debt Issuance Cost		0.8
Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Minimum [Member]
Line of Credit Facility, Commitment Fee Percentage	0.20%
Minimum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.125%
Minimum [Member] \| LIBOR With Maturity of One Month [Member]
Debt Instrument, Basis Spread on Variable Rate	0.125%
Maximum [Member]
Line of Credit Facility, Commitment Fee Percentage	0.30%
Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.125%
Maximum [Member] \| LIBOR With Maturity of One Month [Member]
Debt Instrument, Basis Spread on Variable Rate	1.125%
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 175.0					$ 75.0
Long-term Line of Credit, Total		12.0		12.0		12.0
Debt Instrument, Term (Year)	5 years
Line of Credit Facility, Maximum Letters of Credit Capacity	$ 10.0
Line of Credit Facility, Maximum Swing Line Loan Capacity	5.0
Debt Instrument, Additional Borrowing Capacity	100.0
Debt Instrument, Maximum Principal Borrowing Capacity in Foreign Currencies	$ 15.0
Term Loan [Member]
Long-term Debt, Total		$ 101.9		$ 101.9		104.8
Debt Instrument, Face Amount						$ 125.0

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Unrecognized Tax Benefits, Ending Balance	$ 27.6		$ 28.5
Liability for Uncertainty in Income Taxes, Current			2.4
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total	0.5	$ 0.4
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	$ 4.7		$ 5.2
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member]
Open Tax Year	2017 2018 2019 2020
State and Local Jurisdiction [Member]
Open Tax Year	2014 2015 2016 2017 2018 2019 2020
Foreign Tax Authority [Member] \| Asia [Member]
Open Tax Year	2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Foreign Tax Authority [Member] \| Europe [Member]
Open Tax Year	2012 2013 2014 2015 2016 2017 2018 2019 2020

Note 11 - Retirement Fund and Profit Sharing Plan (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Bel Fuse Inc. Employees' Savings Plan [Member]
Defined Contribution Plan, Cost	$ 0.3	$ 0.3	$ 0.9	$ 0.8
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class A [Member]
Shares Held in Plan (in shares)	292,569		292,569
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class B [Member]
Shares Held in Plan (in shares)	103,511		103,511
Retirement Fund Covering Hong Kong-based Employees [Member]
Defined Contribution Plan, Cost	$ 0.6	$ 0.1	$ 1.9	$ 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Service cost	$ 169	$ 150	$ 508	$ 450
Interest cost	135	159	405	477
Net amortization	127	86	382	258
Net periodic benefit cost	$ 431	$ 395	$ 1,295	$ 1,185

Note 11 - Retirement Fund and Profit Sharing Plan - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Prior service cost	$ 492	$ 586
Net loss	1,487	1,773
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax, Total	$ 1,979	$ 2,359

Note 12 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Foreign currency translation adjustment, net of taxes of ($414) at September 30, 2021 and ($750) at December 31, 2020	$ (15,113)	$ (13,142)
Unrealized holding gains on available-for-sale securities, net of taxes of ($7) at September 30, 2021 and $0 at December 31, 2020	64	19
Unfunded SERP liability, net of taxes of ($1,294) at September 30, 2021 and ($1,377) at December 31, 2020	(4,641)	(4,940)
Accumulated other comprehensive loss	$ (19,690)	$ (18,063)

- 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 - Accumulated Other Comprehensive Loss (Details) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Foreign currency translation adjustment, tax	$ (414)	$ (750)
Unrealized holding gains on available-for-sale securities, tax	(7)	0
Change in unfunded SERP liabilityChange in unfunded SERP liability, tax, tax	$ (1,294)	$ (1,377)

Note 12 - Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Balance	$ 196,598	$ 167,928	$ 185,799	$ 168,051
Other comprehensive (loss) income	(1,836)	3,654	(1,627)	2,217
Balance	200,202	178,771	200,202	178,771
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance			(13,142)
Other comprehensive (loss) income before reclassifications			(1,971)
Amount reclassified from accumulated other comprehensive loss			0
Other comprehensive (loss) income			(1,971)
Balance	(15,113)		(15,113)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Balance			19
Other comprehensive (loss) income before reclassifications			45
Amount reclassified from accumulated other comprehensive loss			0
Other comprehensive (loss) income			45
Balance	64		64
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance			(4,940)
Other comprehensive (loss) income before reclassifications			43
Amount reclassified from accumulated other comprehensive loss			256
Other comprehensive (loss) income			299
Balance	(4,641)		(4,641)
AOCI Attributable to Parent [Member]
Balance	(17,854)	(25,502)	(18,063)	(24,065)
Other comprehensive (loss) income before reclassifications			(1,883)
Amount reclassified from accumulated other comprehensive loss			256
Other comprehensive (loss) income			(1,627)
Balance	$ (19,690)	$ (21,848)	$ (19,690)	$ (21,848)

- 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

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+ Details

Note 13 - Commitments and Contingencies (Details Textual) $ in Millions	Sep. 30, 2021 USD ($)
Arezzo Revenue Agency [Member]
Loss Contingency, Estimate of Possible Loss	$ 12

Note 14 - Segments (Details Textual)	9 Months Ended
Note 14 - Segments (Details Textual)	Sep. 30, 2021
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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 146,966	$ 124,492	$ 396,351	$ 349,642
Gross Profit	$ 35,974	$ 33,309	$ 95,117	$ 90,356
Gross Profit %	24.50%	26.80%	24.00%	25.80%
Connectivity Solutions [Member]
Revenue	$ 40,344	$ 38,535	$ 121,446	$ 116,543
Gross Profit	$ 10,003	$ 11,219	$ 32,826	$ 33,950
Gross Profit %	24.80%	29.10%	27.00%	29.10%
Power Solutions and Protection Segment [Member]
Revenue	$ 60,281	$ 47,793	$ 159,312	$ 129,082
Gross Profit	$ 15,762	$ 11,552	$ 40,917	$ 31,085
Gross Profit %	26.10%	24.20%	25.70%	24.10%
Magnetic Solutions Segment [Member]
Revenue	$ 46,341	$ 38,164	$ 115,593	$ 104,017
Gross Profit	$ 10,722	$ 10,793	$ 24,026	$ 26,198
Gross Profit %	23.10%	28.30%	20.80%	25.20%
Corporate Segment [Member]
Revenue	$ 0	$ 0	$ 0	$ 0
Gross Profit	$ (513)	$ (255)	$ (2,652)	$ (877)

- Definition

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

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Note 15 - Subsequent Event (Details Textual) - Oct. 26, 2021 $ in Millions	USD ($)	CNY (¥)
Foreign Exchange Contract [Member] \| Subsequent Event [Member]
Derivative, Amount of Hedged Item	$ 18.6	¥ 119,812,500