0001437749-23-006172 | 10-K | XBRL Viewer

Basis of Presentation and Significant Accounting Policies [Text Block]

1.	DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

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

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

Certain amounts in the consolidated financial statements as of and for the year ended December 31, 2021 have been reclassified to conform to current year presentation for comparative purposes.

Estimates and Uncertainties - The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including but not limited to those related to product returns, provisions for bad debt, inventories, goodwill, intangible assets, investments, Supplemental Executive Retirement Plan ("SERP") expense, income taxes, contingencies and litigation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Cash Equivalents - Cash equivalents include short-term investments in money market funds and certificates of deposit with an original maturity of three months or less when purchased. Accounts at each U.S. institution are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000. Some of our balances are in excess of the FDIC insured limit.

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

Effects of Foreign Currency – In non-U.S. locations that are not considered highly inflationary, we translate the non-equity components of our foreign balance sheets at the end of period exchange rates with translation adjustments accumulated within stockholders' equity on our consolidated balance sheets. We translate the statements of operations at the average exchange rates during the applicable period. In connection with foreign currency denominated transactions, including multi-currency intercompany payable and receivable transactions and loans, the Company incurred a net realized and unrealized currency exchange gain of $0.3 million for the year ended December 31, 2022 and a loss of less than $0.1 million for the year ended December 31, 2021, which were included in other expense, net on the consolidated statements of operations.

Concentration of Credit Risk - Financial instruments which potentially subject us to concentrations of credit risk consist principally of accounts receivable and temporary cash investments. We grant credit to customers that are primarily original equipment manufacturers and to subcontractors of original equipment manufacturers based on an evaluation of the customer's financial condition, without requiring collateral. Exposure to losses on receivables is principally dependent on each customer's financial condition. We control our exposure to credit risk through credit approvals, credit limits and monitoring procedures and establish allowances for anticipated losses. See Note 13, "Segments," for disclosures regarding significant customers.

Inventories - Inventories are stated at the lower of cost or net realizable value. Material costs are determined by standard costs or weighted average cost, both of which approximate actual costs. Costs related to inventories include raw materials, direct labor and manufacturing overhead which are included in cost of sales on the consolidated statements of operations.

Revenue Recognition – Revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these goods and services. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales.

Product Warranties – Warranties vary by product line and are competitive for the markets in which the Company operates. Warranties generally extend for one to three years from the date of sale, providing customers with assurance that the related product will function as intended. The Company reviews its warranty liability quarterly based on an analysis of actual expenses and failure rates accompanied with estimated future costs and projected failure rate trends. Factors taken into consideration when evaluating our warranty reserve are (i) historical claims for each product, (ii) volume increases, (iii) life of warranty, (iv) historical warranty repair costs and (v) other factors. To the extent that actual experience differs from our estimate, the provision for product warranties will be adjusted in future periods. Actual warranty repair costs are charged against the reserve balance as incurred. See Note 11, "Accrued Expenses."

Product Returns – We estimate product returns, including product exchanges under warranty, based on historical experience. In general, the Company is not contractually obligated to accept returns except for defective product or in instances where the product does not meet the Company's product specifications. However, the Company may permit its customers to return product for other reasons. In certain instances, the Company would generally require a significant cancellation penalty payment by the customer. The Company estimates such returns, where applicable, based upon management's evaluation of historical experience, market acceptance of products produced and known negotiations with customers. Such estimates are deducted from sales and provided for at the time revenue is recognized. Distribution customers often receive what is referred to as "ship and debit" arrangements, whereby Bel will invoice them at an agreed upon unit price upon shipment of product and a price reduction may be granted if the market price of the product declines after shipment. Distributors may also be entitled to special pricing discount credits, and certain customers are entitled to return allowances based on previous sales volumes. Bel deducts estimates for anticipated credits, refunds and returns from sales each quarter based on historical experience.

Goodwill and Identifiable Intangible Assets – Goodwill represents the excess of the aggregate of the following: (1) consideration transferred, (2) the fair value of any noncontrolling interest in the acquiree and, (3) if the business combination is achieved in stages, the acquisition-date fair value of our previously held equity interest in the acquiree over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed.

Identifiable intangible assets consist primarily of patents, licenses, trademarks, trade names, customer lists and relationships, non-compete agreements and technology-based intangibles and other contractual agreements. We amortize finite-lived identifiable intangible assets over the shorter of their stated or statutory duration or their estimated useful lives, ranging from 1 to 16 years, on a straight-line basis to their estimated residual values and periodically review them for impairment. Total identifiable intangible assets comprise 9.7% and 11.9% at December 31, 2022 and 2021, respectively, of our consolidated total assets.

We use the acquisition method of accounting for those business combinations in which we acquire 100% of the equity. We do not amortize goodwill or intangible assets with indefinite useful lives. Goodwill and intangible assets with indefinite useful lives are tested for possible impairment annually during the fourth quarter of each fiscal year or more frequently if events or changes in circumstances indicate that the asset might be impaired.

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

For indefinite-lived intangible assets, such as trademarks and trade names, each year and whenever impairment indicators are present, we determine the fair value of the asset and record an impairment loss for the excess of book value over the fair value, if any. In addition, in all cases of an impairment review we re-evaluate whether continuing to characterize the asset as indefinite-lived is appropriate. See Note 4, "Goodwill and Other Intangible Assets," for additional details.

Depreciation - Property, plant and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are calculated primarily using the straight-line method over the estimated useful life of the asset. The estimated useful lives primarily range from 1 to 33 years for buildings and leasehold improvements, and from 3 to 14 years for machinery and equipment.

Derivative Financial Instruments - As part of our risk management strategy, when considered appropriate, the Company uses derivative financial instruments including foreign currency forward contracts and interest rate swap agreements to hedge against certain foreign currency and interest rate exposures. The intent is to mitigate gains and losses caused by the underlying exposures with offsetting gains and losses on the derivative contracts. By policy, Bel does not enter into speculative positions with derivative instruments.

The Company records all derivatives as assets or liabilities on our consolidated balance sheets at their fair values. Gains and losses from the changes in values of these derivatives are accounted for based on the use of the derivative and whether it qualifies for hedge accounting. The Company's interest rate swaps and foreign currency forward contracts related to the Chinese renminbi (both further described in Note 12, "Derivative Instruments and Hedging Activities") have been designated as cash flow hedges and as such, gains/losses are recorded in accumulated other comprehensive income until such time the hedged item affects earnings.

The counterparties to our derivative financial instruments consist of several major international financial institutions. We regularly monitor the financial strength of these institutions. While the counterparties to these contracts expose us to the potential risk of credit-related losses in the event of a counterparty’s non-performance, the risk would be limited to the unrealized gains on such affected contracts.

Income Taxes - We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. See Note 9, “Income Taxes”.

We record net deferred tax assets to the extent we believe these assets will more-likely-than-not be realized. In making such determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. We have established valuation allowances for deferred tax assets that are not likely to be realized. In the event we were to determine that we would be able to realize our deferred income tax assets in the future in excess of our net recorded amount, we would adjust the valuation allowance, which would reduce the provision for income taxes.

We establish liabilities for tax contingencies when, despite the belief that our tax return positions are fully supported, it is more likely than not that certain positions may be challenged and may not be fully sustained. The tax contingency liabilities are analyzed on a quarterly basis and adjusted based upon changes in facts and circumstances, such as the conclusion of federal and state audits, expiration of the statute of limitations for the assessment of tax, case law and emerging legislation. Our effective tax rate includes the effect of tax contingency liabilities and changes to the liabilities as considered appropriate by management.

Earnings per Share – We utilize the two-class method to report our earnings per share. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock according to dividends declared and participation rights in undistributed earnings. The Company's Certificate of Incorporation, as amended, states that Class B common shares are entitled to dividends at least 5% greater than dividends paid to Class A common shares, resulting in the two-class method of computing earnings per share. In computing earnings per share, the Company has allocated dividends declared to Class A and Class B shares based on amounts actually declared for each class of stock and 5% more of the undistributed earnings have been allocated to Class B shares than to the Class A shares on a per share basis. Basic earnings per common share are computed by dividing net earnings by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share, for each class of common stock, are computed by dividing net earnings by the weighted-average number of common shares and potential common shares outstanding during the period. There were no potential common shares outstanding during the years ended December 31, 2022 and 2021 which would have had a dilutive effect on earnings per share.

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

	Year Ended December 31,
	2022		2021
Numerator:
Net earnings	$	52,689	$	24,821
Less dividends declared:
Class A		514		515
Class B		2,922		2,862
Undistributed earnings	$	49,253	$	21,444

Undistributed earnings allocation:
Class A undistributed earnings	$	8,084	$	3,561
Class B undistributed earnings		41,169		17,883
Total undistributed earnings	$	49,253	$	21,444

Net earnings allocation:
Class A net earnings	$	8,598	$	4,076
Class B net earnings		44,091		20,745
Net earnings	$	52,689	$	24,821

Denominator:
Weighted average shares outstanding:
Class A		2,143		2,145
Class B		10,394		10,258

Net earnings per share:
Class A	$	4.01	$	1.90
Class B	$	4.24	$	2.02

Research and Development ("R&D") - Our engineering groups are strategically located around the world to facilitate communication with and access to customers' engineering personnel. This collaborative approach enables partnerships with customers for technical development efforts. On occasion, we execute non-disclosure agreements with our customers to help develop proprietary, next generation products destined for rapid deployment. R&D costs are expensed as incurred, and are shown as a separate line within operating expenses on the consolidated statements of operations. Generally, R&D is performed internally for the benefit of the Company. R&D costs include salaries, building maintenance and utilities, rents, materials, administration costs and miscellaneous other items. R&D expenses for the years ended December 31, 2022 and 2021 amounted to $20.2 million and $21.9 million, respectively.

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

Level 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

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

For financial instruments such as cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, the carrying amount approximates fair value because of the short maturities of such instruments. See Note 5, "Fair Value Measurements," for additional disclosures related to fair value measurements.

Recently Issued Accounting Standards

Recently Adopted Accounting Standards

In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("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 modified the Company's annual disclosures for its defined benefit plan, but did not have a material 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 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), as amended. The new guidance broadens 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 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 refined the scope of Topic 848 and clarified some of its guidance as part of the FASB’s monitoring of global reference rate activities. This updated guidance was effective upon issuance, and the Company was initially allowed to elect to apply the amendments prospectively through December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848, which extends the date by which companies could elect to apply the amendments to December 31, 2024. During January 2023, the Company amended its credit agreement and related interest rate swap agreements to transition the reference rate from LIBOR to a Secured Overnight Financing Rate ("SOFR") effective January 31, 2023. In connection with these amendments, the Company will be adopting ASU 2020-04 in the first quarter of 2023 and will be electing to apply the relevant practical expedients within the guidance. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements.

Note 8 - Property, Plant and Equipment, Net - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, plant and equipment, gross	$ 145,224	$ 148,062
Accumulated depreciation	(108,391)	(109,852)
Property, plant and equipment, net	36,833	38,210
Land [Member]
Property, plant and equipment, gross	1,098	1,105
Building and Building Improvements [Member]
Property, plant and equipment, gross	21,529	20,915
Machinery and Equipment [Member]
Property, plant and equipment, gross	118,358	120,961
Construction in Progress [Member]
Property, plant and equipment, gross	$ 4,239	$ 5,081

Note 10 - Debt - Scheduled Principal Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023	$ 0
2024	0
2025	0
2026	95,000
2027	0
Total long-term debt	95,000
Less: Current maturities of long-term debt	0
Noncurrent portion of long-term debt	$ 95,000

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Note 12 - Derivative Instruments and Hedging Activities - Derivative Financial Instruments Effects on Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net (losses) gains recognized in AOCL	$ 5,767	$ (59)
Net losses reclassified from AOCL to the consolidated statement of operations	(575)	0
Foreign Exchange Forward [Member]
Net (losses) gains recognized in AOCL	(119)	57
Net losses reclassified from AOCL to the consolidated statement of operations	(805)	0
Interest Rate Swap [Member]
Net (losses) gains recognized in AOCL	5,886	(116)
Net losses reclassified from AOCL to the consolidated statement of operations	$ 230	$ 0

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2022	Mar. 01, 2023	Jun. 30, 2022
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	FY
Document Fiscal Year Focus	2022
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 194,800,000
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Iselin, New Jersey
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		10,642,760
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		2,141,589

Note 4 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill Disclosure [Text Block]

4.	GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Goodwill represents the excess of the purchase price and related acquisition costs over the fair value assigned to the net tangible and other intangible assets acquired in a business acquisition. At December 31, 2022 and 2021, the Company's reportable operating segments were as follows:

	•	Connectivity Solutions: includes the 2010 acquisition of Cinch Connectors, the 2012 acquisitions of Fibreco Limited and GigaCom Interconnect, the 2013 acquisition of Array Connector, the 2014 acquisition of Emerson Network Power Connectivity Solutions, the 2021 acquisition of rms Connectors, in addition to sales and an estimated allocation of expenses related to connectivity products manufactured at Bel sites that are not product group specific.

	•	Power Solutions and Protection: includes the 2012 acquisition of Powerbox Italia, the 2014 acquisition of Power-One's Power Solutions business, the 2019 acquisition of the majority of CUI Inc.'s power products business, the 2021 acquisition of EOS, in addition to sales and an estimated allocation of expenses related to power products manufactured at Bel sites that are not product group specific.

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

The changes in the carrying value of goodwill classified by our segment reporting structure for the year ended December 31, 2022 are as noted in the table below.


	Total			Connectivity Solutions			Power Solutions & Protection			Magnetic Solutions
Balance at January 1, 2022:
Goodwill, gross	$	26,651		$	7,735		$	18,916		$	-
Goodwill, net	$	26,651		$	7,735		$	18,916		$	-

Goodwill allocation related to acquisition		-			-			-			-
Foreign currency translation		(1,552	)		(788	)		(764	)		-

Balance at December 31, 2022:
Goodwill, gross	$	25,099		$	6,947		$	18,152		$	-
Goodwill, net	$	25,099		$	6,947		$	18,152		$	-

The Company has accumulated impairment charges totaling $137.5 million, which were incurred under a former segment and reporting unit structure which was in place prior to October 1, 2019.

As discussed in Note 5, Fair Value Measurements, goodwill is reviewed for impairment on a reporting unit basis annually during the fourth quarter of each year and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. In testing goodwill for impairment, we may perform both a qualitative assessment and quantitative assessment. For the qualitative test, the assessment is based on a review of general macroeconomic conditions, industry and market conditions, changes in cost factors, overall financial performance (both actual and expected performance) and other reporting unit-specific events such as significant changes in management, customers, litigation or a change in the carrying amount of net assets. If it is determined that a potential impairment may exist, we would proceed with a quantitative assessment. In cases where we elect to perform a quantitative assessment, we estimate the fair value of these reporting units using a weighting of fair values derived from income and market approaches. Under the income approach, we determine the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management's estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on a weighted average cost of capital adjusted for the relevant risk associated with the characteristics of the business and the projected cash flows. The market approach estimates fair value based on market multiples of revenue and earnings derived from comparable publicly traded companies with similar operating and investment characteristics as the reporting unit.

2022 Annual Impairment Test

The Company performed a qualitative assessment as of October 1, 2022 related to its EOS reporting unit, as the estimated fair value of this reporting unit significantly exceeded the carrying amount based on our baseline quantitative assessment, which was performed as of March 31, 2021. Our qualitative assessment determined that indicators that the fair value of this reporting unit was less than the carrying amount were not present.

On October 1, 2022, the Company completed a quantitative assessment of our annual goodwill impairment test for three of our reporting units. We concluded that the fair value of the Company's Connectivity Europe, Power Europe and CUI reporting units exceeded the carrying value and that there was no indication of impairment.

The excess of estimated fair values over carrying value, including goodwill for each of our reporting units that had goodwill as of the 2022 annual impairment test were as follows:

Reporting Unit	% by Which Estimated Fair Value Exceeds Carrying Value
Connectivity Europe	69.0	%
Power Europe	84.4	%
CUI	172.9	%

2021 Impairment Tests

On October 1, 2021, the Company completed a quantitative assessment of our annual goodwill impairment test for our reporting units. We concluded that the fair value of the Company's Connectivity Europe, Power Europe and CUI reporting units (the only reporting units with goodwill other than the 2021 acquisitions) exceeded the carrying value and that there was no indication of impairment.

As noted above, the fair value determined in connection with the goodwill impairment test completed in the fourth quarter of 2022 exceeded the carrying value for each reporting unit. Therefore, there was no impairment of goodwill. However, if the fair value decreases in future periods, the Company may need to complete an interim goodwill impairment test and any potential goodwill impairment charge would be dependent upon the estimated fair value of the reporting unit at that time and the outcome of the impairment test. The fair values of the assets and liabilities of the reporting unit, including the intangible assets, could vary depending on various factors.

The future occurrence of a potential indicator of impairment, such as a decrease in expected net earnings, adverse equity market conditions, a decline in current market multiples, a sustained decrease in the price of our common stock, a significant adverse change in legal factors or business climates, an adverse action or assessment by a regulator, unanticipated competition, strategic decisions made in response to economic or competitive conditions, or a more-likely-than-not expectation that a reporting unit or a significant portion of a reporting unit will be sold or disposed of, could require an interim assessment for some or all of the reporting units before the next required annual assessment. In the event of significant adverse changes of the nature described above, it may be necessary for us to recognize an additional non-cash impairment of goodwill, which could have a material adverse effect on our consolidated financial condition and consolidated results of operations.

Other Intangible Assets

Other identifiable intangible assets include patents, technology, license agreements, non-compete agreements and trademarks. Amounts assigned to these intangible assets have been determined by management. Management considered a number of factors in determining the allocations, including valuations and independent appraisals. Trademarks have indefinite lives and are reviewed for impairment on an annual basis, or when there is a triggering event. Other intangible assets, excluding trademarks, are being amortized over 1 to 16 years.

The Company tests indefinite-lived intangible assets for impairment using a fair value approach, the relief-from-royalty method (a form of the income approach). At December 31, 2022, the Company's indefinite-lived intangible assets related to the trademarks acquired in the CUI, Power Solutions, Connectivity Solutions, Cinch and Fibreco acquisitions.

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

	December 31, 2022						December 31, 2021
	Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount

Patents, licenses and technology	$	38,607	$	30,156	$	8,451	$	38,957	$	28,353	$	10,604
Customer relationships		56,917		28,096		28,821		58,008		24,766		33,242
Non-compete agreements		2,662		2,662		-		2,711		2,711		-
Trademarks		16,999		160		16,839		17,189		40		17,149

	$	115,185	$	61,074	$	54,111	$	116,865	$	55,870	$	60,995

Amortization expense was $6.0 million and $7.1 million during each of 2022 and 2021, respectively.

Estimated amortization expense for intangible assets for the next five years is as follows:

December 31,	Amortization Expense

2023	$	4,637
2024		4,557
2025		4,557
2026		4,432
2027		4,432

2022 and 2021 Impairment Tests

The Company completed its annual indefinite-lived intangible assets impairment test as of October 1, 2022 and October 1, 2021. Management has concluded that the fair value of these trademarks exceeded the related carrying values at both December 31, 2022 and December 31, 2021, with no indication of impairment at either date.

Note 1 - Description of Business and Summary of Significant Accounting Policies - Basic and Diluted Net Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net earnings	$ 52,689	$ 24,821
Undistributed earnings	49,253	21,444
Common Class A [Member]
Net earnings	8,598	4,076
Less dividends declared	514	515
Undistributed earnings	$ 8,084	$ 3,561
Weighted-average shares outstanding, basic and diluted (in shares)	2,143	2,145
Net earnings per share, basic and diluted (in dollars per share)	$ 4.01	$ 1.90
Common Class B [Member]
Net earnings	$ 44,091	$ 20,745
Less dividends declared	2,922	2,862
Undistributed earnings	$ 41,169	$ 17,883
Weighted-average shares outstanding, basic and diluted (in shares)	10,394	10,258
Net earnings per share, basic and diluted (in dollars per share)	$ 4.24	$ 2.02

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Note 6 - Other Assets

12 Months Ended

Dec. 31, 2022

Other Assets Disclosure [Text Block]

6.	OTHER ASSETS

At December 31, 2022 and 2021, the Company had obligations of $18.2 million and $23.6 million, respectively, associated with its SERP. As a means of informally funding these obligations, the Company has invested in life insurance policies related to certain employees and marketable securities held in a rabbi trust. At December 31, 2022 and 2021, these assets had a combined value of $14.0 million and $16.4 million, respectively.

Company-Owned Life Insurance

Investments in company-owned life insurance policies ("COLI") were made with the intention of utilizing them as a long-term funding source for the Company's SERP obligations. However, the cash surrender value of the COLI does not represent a committed funding source for these obligations. Any proceeds from these policies are subject to claims from creditors. The cash surrender value of the COLI of $13.9 million and $16.1 million at December 31, 2022 and 2021, respectively, is included in other assets in the accompanying consolidated balance sheets. The volatility in global equity markets in recent years has also had an effect on the cash surrender value of the COLI policies. The Company recorded income (expense) to account for the (decrease) increase in cash surrender value in the amount of ($2.2) million and $1.3 million during the years ended December 31, 2022 and 2021, respectively. These fluctuations are classified as other income (expense), net on the consolidated statements of operations for all periods presented. This classification is consistent with the costs associated with the long-term employee benefit obligations that the COLI is intended to fund.

Other Investments

At December 31, 2022 and 2021, the Company held, in the aforementioned rabbi trust, available-for-sale investments at a cost of $0.1 million and $0.3 million, respectively. Together with the COLI described above, these investments are intended to fund the Company's SERP obligations and are classified as other assets in the accompanying consolidated balance sheets. The Company monitors these investments for impairment on an ongoing basis. At December 31, 2022 and 2021, the fair market value of these investments was $0.1 million and $0.3 million, respectively.

Note 14 - Retirement, Savings and Deferred Compensation Plans - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Prior service cost	$ 334	$ 460
Net (gain) loss	(2,216)	3,907
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax, Total	$ (1,882)	$ 4,367

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

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Table Text Block]

	December 31,
	2022			2021
Land	$	1,098		$	1,105
Buildings and improvements		21,529			20,915
Machinery and equipment		118,358			120,961
Construction in progress		4,239			5,081
		145,224			148,062
Accumulated depreciation		(108,391	)		(109,852	)
Property, plant and equipment, net	$	36,833		$	38,210

Note 14 - Retirement Fund and Profit Sharing Plan - Benefit Payments Expected to be Paid (Details) - Supplemental Employee Retirement Plan [Member] $ in Thousands	Dec. 31, 2022 USD ($)
2023	$ 927
2024	932
2025	961
2026	963
2027	1,075
2028-2032	$ 6,552

Note 13 - Segments (Details Textual) $ in Thousands	12 Months Ended
Note 13 - Segments (Details Textual) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Number of Industry in which Entity Operates	1
Number of Operating Segments	3
Number of Reportable Segments	3
Revenue from Contract with Customer, Excluding Assessed Tax	$ 654,233	$ 543,494
Asia [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 156,413	149,496
Assets, Total [Member] \| Geographic Concentration Risk [Member] \| Asia [Member]
Concentration Risk, Percentage	35.20%
Revenue, Segment Benchmark [Member] \| Customer Concentration Risk [Member]
Number of Customers	1
Revenue from Contract with Customer, Excluding Assessed Tax	$ 83,900	$ 57,800
Revenue, Segment Benchmark [Member] \| Customer Concentration Risk [Member] \| One Customer [Member]
Concentration Risk, Percentage	12.80%	10.60%

Note 19 - Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

$ 208,743

$ 185,799

2,317

(800)

Accumulated Foreign Currency Adjustment Attributable to Parent [Member]

262,346

208,743

Other comprehensive income (loss) before reclassifications

(14,911)

(13,142)

(7,391)

(1,769)

Amounts reclassified from accumulated other comprehensive income (loss)

(805)

(8,196)

(1,769)

Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]

(23,107)

(14,911)

Other comprehensive income (loss) before reclassifications

(116)

5,655

(116)

Amounts reclassified from accumulated other comprehensive income (loss)

5,655

(116)

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

5,539

(116)

Other comprehensive income (loss) before reclassifications

(11)

Amounts reclassified from accumulated other comprehensive income (loss)

^[1]

(11)

Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]

Other comprehensive income (loss) before reclassifications

(3,865)

(4,940)

5,119

1,431

Amounts reclassified from accumulated other comprehensive income (loss)

(250)

(356)

4,869

1,075

AOCI Attributable to Parent [Member]

1,004

(3,865)

Other comprehensive income (loss) before reclassifications

(18,863)

(18,063)

3,372

(444)

Amounts reclassified from accumulated other comprehensive income (loss)

(1,055)

(356)

2,317

(800)

$ (16,546)

$ (18,863)

[1]	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, net on the accompanying consolidated statement of operations.

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.

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Note 20 - Subsequent Events (Details Textual) $ in Thousands, € in Millions			1 Months Ended	12 Months Ended
	Feb. 01, 2023 USD ($)	Feb. 01, 2023 EUR (€)	Jan. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Proceeds from Lines of Credit, Total				$ 0	$ 115,000
Subsequent Event [Member] \| Credit and Security Agreement with KeyBank [Member] \| Revolving Credit Facility [Member]
Proceeds from Lines of Credit, Total			$ 5,000
Innolectric AG [Member] \| Subsequent Event [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	33.33%	33.33%
Payments to Acquire Interest in Subsidiaries and Affiliates, Total	$ 8,800	€ 8

Consolidated Statements of Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Common Class A [Member]
Dividends declared (in dollars per share)	$ 0.24	$ 0.24
Common Class B [Member]
Dividends declared (in dollars per share)	$ 0.28	$ 0.28
Foreign currency translation adjustment, tax expense	$ (47)	$ (334)
Unrealized losses on interest rate swap cash flow hedge, tax	0	0
Unrealized holding losses on marketable securities arising during the period, tax	0	0
Change in unfunded SERP liability, tax	$ (1,381)	$ (875)

Note 11 - Accrued Expenses

12 Months Ended

Dec. 31, 2022

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

11.

ACCRUED EXPENSES

Accrued expenses consist of the following:

	December 31,
	2022		2021
Salaries, bonuses and related benefits	$	27,422	$	21,342
Deferred revenue		8,847		2,224
Accrued restructuring costs		6,796		9
Sales commissions		2,521		2,049
Subcontracting labor		1,875		1,622
Warranty accrual		1,287		1,056
Other		2,125		6,151
	$	50,873	$	34,453

The change in warranty accrual during 2022 primarily related to repair costs incurred and adjustments to pre-existing warranties. There were no new material warranty charges incurred during 2022.

Restructuring Activities:

Activity and liability balances related to restructuring costs for the year ended December 31, 2022 are as follows:

			Year Ended
			December 31, 2022
	Liability at				Cash Payments			Liability at
	December 31,		New		and Other			December 31,
	2021		Charges		Settlements			2022
Severance costs	$	9	$	3,916	$	(535	)	$	3,390
Other restructuring costs		-		3,406		-			3,406
Total	$	9	$	7,322	$	(535	)	$	6,796

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts receivable, allowance for doubtful accounts	$ 1,552	$ 1,536
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares outstanding (in shares)	2,141,589	2,144,912
Common stock, treasury shares (in shares)	3,323
Common Class A [Member] \| Restricted Stock [Member]
Common stock, treasury shares (in shares)	1,072,769	1,072,769
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares outstanding (in shares)	10,642,760	10,377,102
Common stock, treasury shares (in shares)	17,342
Common Class B [Member] \| Restricted Stock [Member]
Common stock, treasury shares (in shares)	3,218,307	3,218,307

Note 17 - Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Amortization of ROU assets - finance leases	$ 448	$ 270
Interest on lease liabilities - finance leases	137	77
Operating lease cost (cost resulting from lease payments)	8,426	8,229
Short-term lease cost	201	183
Variable lease cost (cost excluded from lease payments)	410	297
Sublease income	0	0
Total lease cost	$ 9,622	$ 9,056
Operating leases (in years) (Year)	5 years 1 month 6 days	4 years 3 months 18 days
Finance leases (in years) (Year)	4 years 10 months 24 days	5 years 10 months 24 days
Operating leases	6.00%	6.00%
Finance leases	6.10%	6.10%

Note 2 - Acquisitions - Proforma Results (Details) - The 2021 Acquisitions [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue, net	$ 654,233	$ 546,516
Net earnings	$ 52,689	$ 25,051
Common Class A [Member]
Earnings per Class A common share - basic and diluted (in dollars per share)	$ 4.01	$ 1.92
Common Class B [Member]
Earnings per Class A common share - basic and diluted (in dollars per share)	$ 4.24	$ 2.04

Note 7 - Inventories (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Inventory, Current [Table Text Block]

	December 31,
	2022		2021
Raw materials	$	74,572	$	67,127
Work in progress		44,397		31,103
Finished goods		53,496		41,153
Inventories	$	172,465	$	139,383

Note 18 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Text Block]

18.

COMMITMENTS AND CONTINGENCIES

Other Commitments

The Company submits purchase orders for raw materials to various vendors throughout the year for current production requirements, as well as forecasted requirements. Certain of these purchase orders relate to special purpose material and, as such, the Company may incur penalties if an order is cancelled. The Company had outstanding purchase orders related to raw materials in the amount of $113.4 million and $119.6 million at December 31, 2022 and December 31, 2021, respectively. The Company also had outstanding purchase orders related to capital expenditures in the amount of $7.8 million and $5.1 million at December 31, 2022 and December 31, 2021, respectively.

Legal Proceedings

The Company is party to a number of legal actions and claims, none of which individually or in the aggregate, in the opinion of management, are expected to have a material adverse effect on the Company's consolidated results of operations or consolidated financial position.

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. ("MPS") 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. MPS filed a Motion to Dismiss and a Motion to Transfer Venue to the Northern District of California in September 2021. On May 5, 2022, the Western District of Texas court denied MPS’s motion to dismiss and its efforts to challenge venue. As such, the suit shall remain and continue in the Western District of Texas. The Company has made a demand for a jury trial.

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 consolidated balance sheets at December 31, 2022 and 2021. As Bel is fully indemnified in this matter per the terms of the stock purchase agreement with ABB, a corresponding other asset for indemnification is also included in other assets on the accompanying consolidated balance sheets at December 31, 2022 and 2021.

The Company is not a party to any other legal proceeding, the adverse outcome of which is likely to have a material adverse effect on the Company's consolidated financial condition or consolidated results of operations.

Note 9 - Income Taxes - Components of Deferred Income Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
State tax credits	$ 571	$ 812
(Decrease) increase in unfunded pension liability	(416)	965
Reserves and accruals	4,947	4,124
Federal, state and foreign net operating loss and credit carryforwards	4,316	7,586
Depreciation	437	488
Amortization	2,968	130
Lease accounting	4,816	4,592
Other accruals	6,486	6,364
Total deferred tax assets	24,125	25,061
Depreciation	2,227	2,450
Amortization	6,178	6,483
Lease accounting	4,889	4,522
Other accruals	780	573
Total deferred tax liabilities	14,074	14,028
Valuation allowance	4,027	8,059
Net deferred tax assets	$ 6,024	$ 2,974

Note 8 - Property, Plant and Equipment, Net (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Depreciation, Total	$ 8.9	$ 9.7
Jersey City [Member]
Assets Held-for-sale, Not Part of Disposal Group, Total	$ 1.5	$ 1.6

Note 7 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Raw materials	$ 74,572	$ 67,127
Work in progress	44,397	31,103
Finished goods	53,496	41,153
Inventories	$ 172,465	$ 139,383

Note 16 - Common Stock (Details Textual) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Dividends, Common Stock, Total	$ 3.4	$ 3.4
Common Class A [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.24	$ 0.24
Common Class A [Member] \| Quarterly Dividends [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.06
Common Class A [Member] \| One Shareholder [Member]
Common Stock, Ownership, Percent	18.20%
Common Class B [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.28	$ 0.28
Common Class B [Member] \| Quarterly Dividends [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.07

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Foreign currency translation adjustment, tax expense	$ (47)	$ (334)
Unrealized gains (losses) on interest rate swap cash flow hedge, tax	0	0
Unrealized loss on marketable securities arising during the period, tax	0	0
Change in unfunded SERP liability, tax	$ (1,381)	$ (875)

Note 4 - Goodwill and Other Intangible Assets - Components of Definite and Indefinite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Gross carrying amount	$ 115,185	$ 116,865
Accumulated amortization	61,074	55,870
Net carrying amount	54,111	60,995
Trademarks [Member]
Trademarks, gross	16,999	17,189
Trademarks, Accumulated amortization	160	40
Trademarks, Net carrying amount	16,839	17,149
Patents, Licenses and Technology [Member]
Gross carrying amount	38,607	38,957
Accumulated amortization	30,156	28,353
Net carrying amount	8,451	10,604
Customer Relationships [Member]
Gross carrying amount	56,917	58,008
Accumulated amortization	28,096	24,766
Net carrying amount	28,821	33,242
Noncompete Agreements [Member]
Gross carrying amount	2,662	2,711
Accumulated amortization	2,662	2,711
Net carrying amount	$ 0	$ 0

Note 19 - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2022

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

	December 31,
	2022			2021

Foreign currency translation adjustment, net of taxes of ($369) at December 31, 2022 and ($417) at December 31, 2021	$	(23,107	)	$	(14,911	)
Unrealized holding gains (losses) on interest rate swap cash flow hedge, net of taxes of $0 at December 31, 2022 and $0 at December 31, 2021		5,539			(116	)
Unrealized holding gains on marketable securities, net of taxes of ($7) at December 31, 2022 and ($7) at December 31, 2021		18			29
Unfunded SERP liability, net of taxes of $879 at December 31, 2022 and ($502) at December 31, 2021		1,004			(3,865	)

Accumulated other comprehensive loss	$	(16,546	)	$	(18,863	)

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

	Foreign Currency Translation Adjustment			Unrealized Gains (Losses) on Interest Rate Swap Cash Flow Hedge			Unrealized Holding Gains (Losses) on Marketable Securities			Unfunded SERP Liability				Total

Balance at January 1, 2021	$	(13,142	)	$	-		$	19		$	(4,940	)		$	(18,063	)

Other comprehensive income (loss) before reclassifications		(1,769	)		(116	)		10			1,431				(444	)
Amounts reclassified from accumulated other comprehensive income (loss)		-			-						(356	)	(a)		(356	)
Net current period other comprehensive income (loss)		(1,769	)		(116	)		10			1,075				(800	)

Balance at December 31, 2021		(14,911	)		(116	)		29			(3,865	)			(18,863	)

Other comprehensive income (loss) before reclassifications		(7,391	)		5,655			(11	)		5,119				3,372
Amounts reclassified from accumulated other comprehensive income (loss)		(805	)		-						(250	)	(a)		(1,055	)
Net current period other comprehensive income (loss)		(8,196	)		5,655			(11	)		4,869				2,317

Balance at December 31, 2022	$	(23,107	)	$	5,539		$	18		$	1,004			$	(16,546	)

Note 18 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Purchase Commitment, Remaining Minimum Amount Committed	$ 113.4	$ 119.6
Arezzo Revenue Agency [Member]
Loss Contingency, Estimate of Possible Loss	12.0	12.0
Capital Addition Purchase Commitments [Member]
Long-Term Purchase Commitment, Amount	$ 7.8	$ 5.1

Note 10 - Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Text Block]

10.

DEBT

At December 31, 2022 and 2021, outstanding borrowings under the revolver amounted to $95.0 million and $112.5 million, respectively. The unused credit available under the credit facility was $80.0 million at December 31, 2022 and $62.5 million at December 31, 2021. The Company incurred $3.4 million and $3.5 million of interest expense during the years ended December 31, 2022 and 2021, respectively, in connection with interest due on its outstanding borrowings under the below-described credit agreements during each period, the effects of the 2021 Swaps and amortization of deferred financing costs. The interest expense for the year ended December 31, 2021 also included $0.8 million of deferred financing costs amortized in connection with the extinguishment of debt under the Prior Credit Agreement (as defined below) as further described under "2021 Refinancing" below.

The interest rate in effect at December 31, 2022 was 5.51%, which consisted of LIBOR of 4.38% plus the Company's margin of 1.125%. The interest rate in effect at December 31, 2021 was 1.60%, which consisted of LIBOR of 0.10% plus the Company's margin of 1.50%. In order to manage our interest rate exposure on our borrowings, and as further described in Note 12, "Derivative Instruments and Hedging Activities", the Company is party to the 2021 Swaps, each with an aggregate notional amount of $30 million, or $60 million in the aggregate, the effect of which is to fix the LIBOR portion of the interest rate on a portion of our outstanding debt on our Revolver. The 2021 Swaps require the Company to pay interest on the notional amount at the rate of 1.3055% and 1.3180%, respectively, in exchange for the one-month LIBOR rate. The effective rate of interest for our outstanding borrowings, including the impact of the 2021 Swaps, was 3.57% and 1.60%, respectively, during the years ended December 31, 2022 and 2021.

Prior Credit Agreement

Prior to September 2, 2021, the Company's credit agreement in effect included a Term Loan of $125.0 million and an available Revolver of $75.0 million. The borrowings under the Prior Credit Agreement bore interest at a rate equal to, at the Company's option, either (1) LIBOR, plus a margin ranging from 1.375% per annum to 2.75% per annum depending on the Company's leverage ratio, or (2)(a) an "Alternate Base Rate," which was the highest of (i) the federal funds rate plus 0.50%, (ii) KeyBank's prime rate and (iii) the LIBOR rate with a maturity of one month plus 1.00%, plus (b) a margin ranging from 0.375% per annum to 1.75% per annum, depending on the Company's leverage ratio. The Prior Credit Agreement was due to expire on December 11, 2022.

2021 Refinancing

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 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. On January 12, 2023, the Company amended its New Credit Agreement for the purpose of transitioning its reference rate related to interest from LIBOR to SOFR.

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.

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 consolidated balance sheet at December 31, 2021 and are being amortized to interest expense over the five-year term of the New Credit Agreement.

At December 31, 2022, the Company was in compliance with its debt covenants, including its most restrictive covenant, the Fixed Charge Coverage Ratio.

Interest Rate Swaps

In December 2021, the Company purchased two interest rate swaps (the "2021 Swaps"), each with an aggregate notional amount of $30 million, or $60 million in the aggregate, the effect of which is to fix the LIBOR portion of the interest rate on a portion of our outstanding debt on our New Revolver. The 2021 Swaps were effective December 31, 2021 and continue through August 31, 2026, the original termination date of the New Credit Agreement. The 2021 Swaps require the Company to pay interest on the notional amount at the rate of 1.3055% and 1.3180%, respectively, in exchange for the one-month LIBOR rate. See Note 12, "Derivative Instruments and Hedging Activities" for further information on these interest rate derivative instruments entered into in connection with the New Credit Agreement. In connection with the above-noted related change to its credit agreement, on January 18, 2023, the Company amended its two interest rate swap agreements to transition the related reference rates in these agreements from LIBOR to SOFR, effective January 31, 2023.

Scheduled principal payments of the total debt outstanding at December 31, 2022 are as follows (in thousands):

2023	$	-
2024		-
2025		-
2026		95,000
2027		-
Total long-term debt		95,000
Less: Current maturities of long-term debt		-
Noncurrent portion of long-term debt	$	95,000

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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-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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

	Year Ended December 31,
	2022			2021
Liability for uncertain tax positions - January 1	$	28,434		$	28,516
Additions based on tax positions related to the current year		1,284			2,054
Translation adjustment		(1,121	)		331
Settlement/expiration of statutes of limitations		(3,799	)		(2,467	)
Liability for uncertain tax positions - December 31	$	24,798		$	28,434

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

	Year Ended December 31,
	2022			2021
Current:
Federal	$	9,175		$	520
State		787			126
Foreign		1,002			1,419
		10,964			2,065
Deferred:
Federal		(4,064	)		863
State		(255	)		(54	)
Foreign		(275	)		(368	)
		(4,594	)		441

	$	6,370		$	2,506

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

	Year Ended December 31,
	2022						2021
	$			%			$			%
Tax provision computed at the federal statutory rate	$	12,402			21	%	$	5,739			21	%
(Decrease) increase in taxes resulting from:
Different tax rates applicable to foreign operations		(1,677	)		(3	%)		(1,641	)		(6	%)
Reversal of liability for uncertain tax positions - net		(2,515	)		(4	%)		(413	)		(2	%)
Research and experimentation and foreign tax credits		(139	)		(0	%)		343			1	%
State taxes, net of federal benefit		292			0	%		42			0	%
SERP/COLI and restricted stock income		733			1	%		(172	)		(1	%)
Other, net		(2,726	)		(5	%)		(1,392	)		(5	%)
Tax provision computed at the Company's effective tax rate	$	6,370			11	%	$	2,506			9	%

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

	December 31,
	2022			2021
	Tax Effect			Tax Effect

Deferred tax assets:
State tax credits	$	571		$	812
(Decrease) increase in unfunded pension liability		(416	)		965
Reserves and accruals		4,947			4,124
Federal, state and foreign net operating loss and credit carryforwards		4,316			7,586
Depreciation		437			488
Amortization		2,968			130
Lease accounting		4,816			4,592
Other accruals		6,486			6,364
Total deferred tax assets		24,125			25,061
Deferred tax liabilities:
Depreciation		2,227			2,450
Amortization		6,178			6,483
Lease accounting		4,889			4,522
Other accruals		780			573
Total deferred tax liabilities		14,074			14,028
Valuation allowance		4,027			8,059
Net deferred tax assets	$	6,024		$	2,974

Note 4 - Goodwill and Other Intangible Assets - Estimated Fair Values Over Carrying Value, Including Goodwill (Details) - Europe [Member]	Dec. 31, 2022
Cinch Connectivity Solutions Segment [Member]
% by Which Estimated Fair Value Exceeds Carrying Value	69.00%
Power Solutions and Protection Segment [Member]
% by Which Estimated Fair Value Exceeds Carrying Value	84.40%
CUI Power [Member]
% by Which Estimated Fair Value Exceeds Carrying Value	172.90%

Note 14 - Retirement Fund and Profit Sharing Plan - Weighted Average Assumptions Used in Determining the Periodic Net Cost and Benefit Obligation (Details) - Supplemental Employee Retirement Plan [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Discount rate, net periodic benefit cost	2.75%	2.25%
Rate of compensation increase, net periodic benefit cost	2.50%	2.50%
Discount rate, benefit obligation	5.00%	2.75%
Rate of compensation increase, benefit obligation	2.50%	2.50%

Note 14 - Retirement, Savings and Deferred Compensation Plans - Components of SERP Expense (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Service Cost	$ 503	$ 677
Interest Cost	636	540
Net amortization	312	509
Net periodic benefit cost	$ 1,451	$ 1,726

Consolidated Statements of Stockholders' Equity - 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] Treasury Stock [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] Treasury Stock [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]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Total
Balance at Dec. 31, 2020															$ 166,491	$ (18,063)	$ 214	$ 1,021	$ 0	$ 36,136	$ 185,799
Net earnings							$ 4,076							$ 20,745	24,821	0	0	0	0	0	24,821
Cash dividends declared on common stock	$ (515)	$ 0	$ 0	$ 0	$ 0	$ 0	(515)	$ (2,862)	$ 0	$ 0	$ 0	$ 0	$ 0	(2,862)
Issuance of restricted common stock															0	0	0	21	0	(21)	0
Forfeiture of restricted common stock															0	0	0	(4)			0
Forfeiture of restricted common stock, APIC																			0	4
Foreign currency translation adjustment, net of taxes															0	(1,769)	0	0	0	0	(1,769)
Unrealized losses on interest rate swap cash flow hedge, net of taxes															0	(116)	0	0	0	0	(116)
Unrealized holding gains on marketable securities, net of taxes															0	10	0	0	0	0	10
Stock-based compensation expense															0	0	0	0	0	2,300	2,300
Change in unfunded SERP liability, net of taxes															0	1,075	0	0	0	0	1,075
Balance at Dec. 31, 2021															187,935	(18,863)	214	1,038	0	38,419	208,743
Net earnings							8,598							44,091	52,689	0	0	0	0	0	52,689
Cash dividends declared on common stock	$ (514)	$ 0	$ 0	$ 0	$ 0	$ 0	$ (514)	$ (2,922)	$ 0	$ 0	$ 0	$ 0	$ 0	$ (2,922)
Issuance of restricted common stock															0	0	0	33	0	(33)	0
Forfeiture of restricted common stock															0	0	0	(4)			0
Forfeiture of restricted common stock, APIC																			0	4
Foreign currency translation adjustment, net of taxes															0	(8,196)	0	0	0	0	(8,196)
Unrealized losses on interest rate swap cash flow hedge, net of taxes															0	5,655	0	0	0	0	5,655
Unrealized holding gains on marketable securities, net of taxes															0	(11)	0	0	0	0	(11)
Stock-based compensation expense															0	0	0	0	0	2,382	2,382
Change in unfunded SERP liability, net of taxes															0	4,869	0	0	0	0	4,869
Repurchase of treasury stock																			(349)		(349)
Balance at Dec. 31, 2022															$ 237,188	$ (16,546)	$ 214	$ 1,067	$ (349)	$ 40,772	$ 262,346

Note 17 - Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating cash flows from operating leases	$ 8,970	$ 8,250
Operating cash flows from finance leases	137	77
Finance cash flows from finance leases	423	253
Operating leases	8,052	12,595
Finance leases	$ 207	$ 1,862

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 654,233	$ 543,494
Cost of sales	470,780	409,111
Gross profit	183,453	134,383
Research and development costs	20,238	21,891
Selling, general and administrative expenses	92,342	86,612
Restructuring charges	7,322	1,201
Gain on sale of property	(1,596)	(6,578)
Income from operations	65,147	31,257
Interest expense	(3,379)	(3,542)
Other expense, net	(2,709)	(388)
Earnings before provision for income taxes	59,059	27,327
Provision for income taxes	6,370	2,506
Net earnings available to common shareholders	52,689	24,821
Common Class A [Member]
Net earnings available to common shareholders	$ 8,598	$ 4,076
Net earnings per common share:
common shares - basic and diluted (in dollars per share)	$ 4.01	$ 1.90
Weighted-average shares outstanding:
common shares - basic and diluted (in shares)	2,143	2,145
Common Class B [Member]
Net earnings available to common shareholders	$ 44,091	$ 20,745
Net earnings per common share:
common shares - basic and diluted (in dollars per share)	$ 4.24	$ 2.02
Weighted-average shares outstanding:
common shares - basic and diluted (in shares)	10,394	10,258

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net earnings	$ 52,689	$ 24,821
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	14,863	16,861
Stock-based compensation	2,382	2,300
Amortization of deferred financing costs	34	1,302
Deferred income taxes	(4,594)	441
Unrealized (gains) losses on foreign currency revaluation	(278)	44
Gain on sale of property, plant and equipment	(1,596)	(6,440)
Other, net	1,195	1,276
Changes in operating assets and liabilities:
Accounts receivable	(20,702)	(12,982)
Unbilled receivables	10,031	(14,140)
Inventories	(36,592)	(34,005)
Other current assets	(1,210)	(2,240)
Other assets	7,000	(1,182)
Accounts payable	1,522	23,961
Accrued expenses	10,933	4,684
Accrued restructuring costs	6,784	(119)
Other liabilities	(4,162)	1,560
Income taxes payable	1,958	(1,510)
Net cash provided by operating activities	40,257	4,632
Cash flows from investing activities:
Purchase of property, plant and equipment	(8,832)	(9,397)
Payment for acquisitions, net of cash acquired	0	(16,811)
Proceeds from disposal/sale of property, plant and equipment	1,833	7,330
Net cash used in investing activities	(6,999)	(18,878)
Cash flows from financing activities:
Dividends paid to common shareholders	(3,413)	(3,379)
Purchase of treasury stock	(349)	0
Deferred financing costs	0	(675)
Borrowings under revolving credit line	0	115,000
Repayments under revolving credit line	(17,500)	(14,500)
Repayments of long-term debt	0	(104,846)
Net cash used in financing activities	(21,262)	(8,400)
Effect of exchange rate changes on cash	(3,486)	(537)
Net increase (decrease) in cash and cash equivalents	8,510	(23,183)
Cash and cash equivalents - beginning of year	61,756	84,939
Cash and cash equivalents - end of year	70,266	61,756
Supplemental cash flow information:
Income taxes, net of refunds received	14,618	2,872
Interest payments	3,371	2,140
Goodwill	25,099	26,651
Cash paid for acquisitions, net of cash acquired	(0)	16,811
RMS and EOS Acquisitions [Member]
Supplemental cash flow information:
Fair value of identifiable net assets acquired	0	18,215
Goodwill	0	2,499
Fair value of net assets acquired	0	20,714
Fair value of consideration transferred	0	20,714
Less: Cash acquired in acquisitions	$ 0	$ (3,903)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 70,266	$ 61,756
Accounts receivable, net of allowance for doubtful accounts of $1,552 and $1,536, at December 31, 2022 and 2021, respectively	107,274	87,135
Inventories	172,465	139,383
Unbilled receivables	18,244	28,275
Other current assets	13,159	12,467
Total current assets	381,408	329,016
Property, plant and equipment, net	36,833	38,210
Right-of-use assets	21,551	21,252
Intangible assets, net	54,111	60,995
Goodwill, net	25,099	26,651
Deferred income taxes	7,281	4,461
Other assets	34,183	31,261
Total assets	560,466	511,846
Current liabilities:
Accounts payable	64,589	65,960
Accrued expenses	50,873	34,453
Operating lease liability, current	5,870	6,880
Other current liabilities	14,972	4,719
Total current liabilities	136,304	112,012
Long-term liabilities:
Long-term debt	95,000	112,500
Operating lease liability, long-term	15,742	14,668
Liability for uncertain tax positions	24,798	28,434
Minimum pension obligation and unfunded pension liability	18,522	23,909
Deferred income taxes	1,257	1,487
Other long-term liabilities	6,497	10,093
Total liabilities	298,120	303,103
Commitments and contingencies (see Note 18)
Stockholders' equity:
Preferred stock, no par value, 1,000,000 shares authorized; none issued	0	0
Treasury stock (unrestricted, consisting of 3,323 Class A shares and 17,342 Class B shares)	(349)	0
Additional paid-in capital	40,772	38,419
Retained earnings	237,188	187,935
Accumulated other comprehensive loss	(16,546)	(18,863)
Total stockholders' equity	262,346	208,743
Total liabilities and stockholders' equity	560,466	511,846
Common Class A [Member]
Stockholders' equity:
Common stock	214	214
Common Class B [Member]
Stockholders' equity:
Common stock	$ 1,067	$ 1,038

Note 14 - Retirement Fund and Profit Sharing Plan

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Text Block]

14.

RETIREMENT FUND AND PROFIT SHARING PLAN

The Company maintains the Bel Fuse Inc. Employees' Savings Plan, a defined contribution plan that is intended to meet the applicable requirements for tax-qualification under sections 401(a) and (k) of the Internal Revenue Code of 1986, as amended (the "Code"). The Employees' Savings Plan allows eligible employees to voluntarily contribute a percentage of their eligible compensation, subject to Code limitations, which contributions are matched by the Company in an amount equal to 100% of the first 1% of compensation contributed by participants, and 50% of the next 5% of compensation contributed by participants. The Company's matching contribution is made in the form of Bel Fuse Inc. Class A common stock. Prior to January 1, 2012, the Company's matching and profit sharing contributions were made in the form of shares of Bel Fuse Inc. Class A and Class B common stock. The expense for the years ended December 31, 2022 and 2021 amounted to $1.3 million and $1.2 million, respectively. As of December 31, 2022, the plan owned approximately 311,417 shares and 92,809 shares of Bel Fuse Inc. Class A and Class B common stock, respectively.

The Company also maintains a Nonqualified Deferred Compensation Plan (the "DCP"). With certain exceptions, the Company's contributions to the DCP are discretionary and become fully vested by the participants upon reaching age 65. The expense for the years ended December 31, 2022 and 2021 amounted to $0.1 million during each period. As the plan is fully funded, the assets and liabilities related to the DCP were in equal amounts of $0.7 million at December 31, 2022 and $0.8 million at December 31, 2021. These amounts are included in other assets and other liabilities, respectively, on the accompanying consolidated balance sheets as of each date.

The Company's subsidiaries in Asia have a retirement fund covering substantially all of their Hong Kong based full-time employees. Eligible employees contribute up to 5% of salary to the fund. In addition, the Company must contribute a minimum of 5% of eligible salary, as determined by Hong Kong government regulations. The Company currently contributes 7% of eligible salary in cash. The expense for the years ended December 31, 2022 and 2021 amounted to approximately $1.8 million and $2.7 million, respectively. As of December 31, 2021, the plan owned 3,323 and 17,342 shares of Bel Fuse Inc. Class A and Class B common stock, respectively. During the second quarter of 2022, the Company repurchased all shares back from the Asia retirement plan and no shares were owned by the plan as of December 31, 2022.

The Company maintains a SERP, which is designed to provide a limited group of key management and other key employees of the Company with supplemental retirement and death benefits. Participants in the SERP are selected by the Compensation Committee of the Board of Directors. The SERP initially became effective in 2002 and was amended and restated in April 2007 to conform with applicable requirements of Section 409A of the Internal Revenue Code and to modify the provisions regarding benefits payable in connection with a change in control of the Company. The Plan is unfunded. Benefits under the SERP are payable from the general assets of the Company, but the Company has established a rabbi trust which includes certain life insurance policies in effect on participants as well as other investments to partially cover the Company's obligations under the Plan. See Note 6, "Other Assets," for further information on these assets.

The benefits available under the SERP vary according to when and how the participant terminates employment with the Company. If a participant retires (with the prior written consent of the Company) on his normal retirement date (65 years old, 20 years of service, and 5 years of Plan participation), his normal retirement benefit under the Plan would be annual payments equal to 40% of his average base compensation (calculated using compensation from the highest five consecutive calendar years of Plan participation), payable in monthly installments for the remainder of his life. If a participant retires early from the Company (55 years old, 20 years of service, and five years of Plan participation), his early retirement benefit under the Plan would be an amount (i) calculated as if his early retirement date were in fact his normal retirement date, (ii) multiplied by a fraction, with the numerator being the actual years of service the participant has with the Company and the denominator being the years of service the participant would have had if he had retired at age 65, and (iii) actuarially reduced to reflect the early retirement date. If a participant dies prior to receiving 120 monthly payments under the Plan, his beneficiary would be entitled to continue receiving benefits for the shorter of (i) the time necessary to complete 120 monthly payments or (ii) 60 months. If a participant dies while employed by the Company, his beneficiary would receive, as a survivor benefit, an annual amount equal to (i) 100% of the participant's annual base salary at date of death for one year, and (ii) 50% of the participant's annual base salary at date of death for each of the following four years, each payable in monthly installments. The Plan also provides for disability benefits, and a forfeiture of benefits if a participant terminates employment for reasons other than those contemplated under the Plan. The expense related to the Plan for the years ended December 31, 2022 and 2021 amounted to $1.5 million and $1.7 million, respectively.

Net Periodic Benefit Cost

The net periodic benefit cost related to the SERP consisted of the following components during the years ended December 31, 2022 and 2021:

	Year Ended December 31,
	2022		2021

Service Cost	$	503	$	677
Interest Cost		636		540
Net amortization		312		509
Net periodic benefit cost	$	1,451	$	1,726

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

Obligations and Funded Status

Summarized information about the changes in plan assets and benefit obligation, the funded status and the amounts recorded at December 31, 2022 and 2021 are as follows:

	Year Ended December 31,
	2022			2021
Fair value of plan assets, January 1	$	-		$	-
Company contributions		606			504
Benefits paid		(606	)		(504	)
Fair value of plan assets, December 31	$	-		$	-
Benefit obligation, January 1	$	23,580		$	24,308
Service cost		503			677
Interest cost		636			540
Benefits paid		(606	)		(504	)
Actuarial gains		(5,938	)		(1,441	)
Benefit obligation, December 31	$	18,175		$	23,580
Underfunded status, December 31	$	(18,175	)	$	(23,580	)

The Company has recorded the 2022 and 2021 underfunded status as a long-term liability on the consolidated balance sheets. The accumulated benefit obligation for the SERP was $17.0 million as of December 31, 2022 and $21.8 million as of December 31, 2021. The aforementioned company-owned life insurance policies and marketable securities held in a rabbi trust had a combined value of $14.0 million and $16.4 million at December 31, 2022 and 2021, respectively. See Note 6, "Other Assets," for additional information on these investments.

The estimated net loss and prior service cost for the SERP that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year is $0.1 million. The Company expects to make contributions of $0.8 million to the SERP in 2023. The Company had no net transition assets or obligations recognized as an adjustment to other comprehensive income and does not anticipate any plan assets being returned to the Company during 2023, as the plan has no assets.

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

Years Ending
December 31,

2023	$	927
2024		932
2025		961
2026		963
2027		1,075
2028 - 2032		6,552

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

	December 31,
	2022			2021
Prior service cost	$	334		$	460
Net (gain) loss		(2,216	)		3,907
	$	(1,882	)	$	4,367

Actuarial Assumptions

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

	Year Ended December 31,
	2022			2021
Net periodic benefit cost:
Discount rate		2.75	%		2.25	%
Rate of compensation increase		2.50	%		2.50	%
Benefit obligation:
Discount rate		5.00	%		2.75	%
Rate of compensation increase		2.50	%		2.50	%

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Note 9 - Income Taxes - Reconciliation of Taxes on Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Tax provision computed at the federal statutory rate, amount	$ 12,402	$ 5,739
Tax provision computed at the federal statutory rate, percent	21.00%	21.00%
Different tax rates applicable to foreign operations, amount	$ (1,677)	$ (1,641)
Different tax rates applicable to foreign operations, percent	(3.00%)	(6.00%)
Reversal of liability for uncertain tax positions - net, amount	$ (2,515)	$ (413)
Reversal of liability for uncertain tax positions - net, percent	(4.00%)	(2.00%)
Research and experimentation and foreign tax credits, amount	$ (139)	$ (343)
Research and experimentation and foreign tax credits, percent	(0.00%)	1.00%
Research and experimentation and foreign tax credits, amount	$ 139	$ 343
State taxes, net of federal benefit, amount	$ 292	$ 42
State taxes, net of federal benefit, percent	0.00%	0.00%
SERP/COLI and restricted stock income, amount	$ 733	$ (172)
SERP/COLI and restricted stock income, percent	1.00%	1.00%
SERP/COLI and restricted stock income, percent	(1.00%)	(1.00%)
Other, net, amount	$ (2,726)	$ (1,392)
Other, net, percent	(5.00%)	(5.00%)
Income Tax Expense (Benefit), Total	$ 6,370	$ 2,506
Tax provision (benefit) computed at the Company's effective tax rate, percent	11.00%	9.00%

Note 15 - Share-based Compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Text Block]

15.

SHARE-BASED COMPENSATION

The Company has an equity compensation program (the "Program") which provides for the granting of "Incentive Stock Options" within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended, non-qualified stock options and restricted stock awards. The Company believes that such awards better align the interest of its employees with those of its shareholders. The 2020 Equity Compensation Plan provides for the issuance of 1.0 million shares of the Company's Class B common stock. At December 31, 2022, 502,500 shares remained available for future issuance under the 2020 Equity Compensation Plan.

The Company records compensation expense in its consolidated statements of operations related to employee stock-based options and awards. The aggregate pretax compensation cost recognized for stock-based compensation amounted to approximately $2.4 million and $2.3 million for 2022 and 2021, respectively, and related solely to restricted stock awards. The Company did not use any cash to settle any equity instruments granted under share-based arrangements during 2022 and 2021. At December 31, 2022 and 2021, the only instruments issued and outstanding under the Program related to restricted stock awards.

Restricted Stock Awards

The Company provides common stock awards to certain officers, directors and key employees. The Company grants these awards, at its discretion, from the shares available under the Program. Unless otherwise provided at the date of grant or unless subsequently accelerated, the shares awarded are typically earned in 25% increments on the second, third, fourth and fifth anniversaries of the award and are distributed provided the employee has remained employed by the Company through such anniversary dates; otherwise the unearned shares are forfeited. The market value of these shares at the date of award is recorded as compensation expense on the straight-line method over the applicable vesting period from the respective award dates, as adjusted for forfeitures of unvested awards. During 2022 and 2021, the Company issued 322,500 shares and 209,000 shares of the Company's Class B common stock, respectively, under a restricted stock plan to various officers, directors and employees.

A summary of the restricted stock activity under the Program for the year ended December 31, 2022 is presented below:

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

Outstanding at January 1, 2022		461,850		$	16.94		3.2
Granted		322,500			36.87
Vested		(108,350	)		21.28
Forfeited		(39,500	)		16.66
Outstanding at December 31, 2022		636,500		$	26.31		4.4

As of December 31, 2022, there was $12.7 million of total pretax unrecognized compensation cost related to non-vested stock-based compensation arrangements granted under the restricted stock award plan. That cost is expected to be recognized over a period of 4.4 years. This expense is recorded in cost of sales, R&D and SG&A expense based upon the employment classification of the award recipients.

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

Note 9 - Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Federal, current	$ 9,175	$ 520
State, current	787	126
Foreign, current	1,002	1,419
Current	10,964	2,065
Federal, deferred	(4,064)	863
State, deferred	(255)	(54)
Foreign, deferred	(275)	(368)
Deferred	(4,594)	441
Income Tax Expense (Benefit), Total	$ 6,370	$ 2,506

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Note 8 - Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment Disclosure [Text Block]

8.	PROPERTY, PLANT AND EQUIPMENT, NET

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

	December 31,
	2022			2021
Land	$	1,098		$	1,105
Buildings and improvements		21,529			20,915
Machinery and equipment		118,358			120,961
Construction in progress		4,239			5,081
		145,224			148,062
Accumulated depreciation		(108,391	)		(109,852	)
Property, plant and equipment, net	$	36,833		$	38,210

Depreciation expense for the years ended December 31, 2022 and 2021 was $8.9 million and $9.7 million, respectively. At December 31, 2022 and December 31, 2021, a total of $1.5 million and $1.6 million, respectively, of property was classified as assets held for sale on the accompanying consolidated balance sheet related to our corporate headquarters in Jersey City, New Jersey.

Note 17 - Leases (Tables)

12 Months Ended

Dec. 31, 2022

Lease, Cost [Table Text Block]

	Year Ended December 31,
	2022		2021
Amortization of ROU assets - finance leases	$	448	$	270
Interest on lease liabilities - finance leases		137		77
Operating lease cost (cost resulting from lease payments)		8,426		8,229
Short-term lease cost		201		183
Variable lease cost (cost excluded from lease payments)		410		297
Sublease income		-		-
Total lease cost	$	9,622	$	9,056

	2022			2021
Weighted-Average Remaining Lease Term:
Operating leases (in years)		5.1			4.3
Finance leases (in years)		4.9			5.9

Weighted-Average Discount Rate:
Operating leases		6.0	%		6.0	%
Finance leases		6.1	%		6.1	%

Leases, Supplemental Cash Flow Information [Table Text Block]

	Year Ended December 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,970	$	8,250
Operating cash flows from finance leases		137		77
Finance cash flows from finance leases		423		253
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		8,052		12,595
Finance leases		207		1,862

Lease, Supplemental Balance Sheet Information [Table Text Block]

	2022			2021
Operating Leases:
Operating lease right-of-use assets	$	21,551		$	21,252
Operating lease liability, current		5,870			6,880
Operating lease liability, long-term		15,742			14,668
Total operating lease liabilities	$	21,612		$	21,548

Finance Leases:
Property, plant and equipment, gross	$	3,096		$	2,719
Accumulated depreciation		(1,089	)		(690	)
Property, plant and equipment, net	$	2,007		$	2,029
Other current liabilities	$	446		$	363
Other long-term liabilities		1,608			1,650
Total finance lease liabilities	$	2,054		$	2,013

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

Year Ending	Operating			Finance
December 31,	Leases			Leases
2023	$	6,766		$	587
2024		4,937			574
2025		4,154			404
2026		3,836			380
2027		2,239			312
Thereafter		3,176			259
Total undiscounted cash flows		25,108			2,516
Less imputed interest		(3,496	)		(462	)
Present value of lease liabilities	$	21,612		$	2,054

Note 3 - Revenue - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Contract assets - current (unbilled receivables)	$ 18,244	$ 28,275
Contract liabilities - current (deferred revenue)	8,847	$ 2,224
Balance	2,224
New advance payments received	10,624
Recognized as revenue during period	(3,944)
Other adjustments	5
Currency translation	(62)
Balance	$ 8,847

Note 13 - Segments - Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 654,233	$ 543,494
Gross Profit	$ 183,453	$ 134,383
Gross Profit %	28.00%	24.70%
Total Assets	$ 560,466	$ 511,846
Capital Expenditures	8,832	9,397
Depreciation and amortization	14,863	16,861
Connectivity Solutions [Member]
Net sales	187,085	165,027
Gross Profit	$ 48,488	$ 43,501
Gross Profit %	25.90%	26.40%
Total Assets	$ 170,895	$ 147,813
Capital Expenditures	4,566	1,768
Depreciation and amortization	6,145	6,683
Power Solutions and Protection Segment [Member]
Net sales	288,366	218,035
Gross Profit	$ 87,840	$ 58,823
Gross Profit %	30.50%	27.00%
Total Assets	$ 234,095	$ 206,719
Capital Expenditures	3,916	4,718
Depreciation and amortization	6,470	8,022
Magnetic Solutions Segment [Member]
Net sales	178,782	160,432
Gross Profit	$ 49,290	$ 34,106
Gross Profit %	27.60%	21.30%
Total Assets	$ 107,891	$ 104,845
Capital Expenditures	350	2,911
Depreciation and amortization	2,133	2,126
Corporate Segment [Member]
Net sales	0	0
Gross Profit	(2,165)	(2,047)
Total Assets	47,585	52,469
Capital Expenditures	0	0
Depreciation and amortization	$ 115	$ 30

Note 4 - Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021
Goodwill, gross	$ 25,099	$ 26,651
Goodwill	25,099	26,651	$ 26,651
Goodwill allocation related to acquisition	0
Foreign currency translation	(1,552)
North America [Member] \| Cinch Connectivity Solutions Segment [Member]
Goodwill, gross	6,947	7,735
Goodwill	6,947	7,735
Goodwill allocation related to acquisition	0
Foreign currency translation	(788)
Asia [Member] \| Power Solutions and Protection Segment [Member]
Goodwill, gross	18,152	18,916
Goodwill	18,152	18,916
Goodwill allocation related to acquisition	0
Foreign currency translation	(764)
Europe [Member] \| Magnetic Solutions Segment [Member]
Goodwill, gross	0	0
Goodwill	0	$ 0
Goodwill allocation related to acquisition	0
Foreign currency translation	$ 0

Note 12 - Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Text Block]

12.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Our primary objective for holding derivative financial instruments is to manage foreign currency exchange rate risk and interest rate risk, when deemed appropriate. We enter into these contracts in the normal course of business to mitigate risks and not for speculative purposes.

Foreign Currency Forward Contracts

Under our risk management strategy, we periodically use foreign currency forward contracts to manage our short-term exposures to fluctuations in operational cash flows resulting from changes in foreign currency exchange rates. These cash flow exposures result from portions of our forecasted operating expenses, primarily compensation and related expenses, which are transacted in currencies other than the U.S. dollar, most notably the Chinese renminbi and the Mexican peso. These foreign currency forward contracts generally have maturities of no longer than twelve months, although occasionally we will execute a contract that extends beyond twelve months, depending upon the nature of the underlying risk.

We held outstanding foreign currency forward contracts with notional amounts of $25.7 million and $17.1 million as of December 31, 2022 and 2021, respectively. The Company's foreign currency forward contracts related to the Chinese renminbi are designated as cash flow hedges for accounting purposes and as such, changes in their fair value are recognized in accumulated other comprehensive income (loss) in the consolidated balance sheet and are reclassified into the statement of operations within cost of goods sold in the period in which the hedged transaction affects earnings.

Interest Rate Swap Agreements

To partially mitigate risks associated with the variable interest rates on the revolver borrowings under the New Credit Agreement, in November 2021, we executed a pay-fixed, receive-variable interest rate swap agreement with each of two multinational financial institutions under which we (i) pay interest at a fixed rate of 1.3055% and receive variable interest of one-month LIBOR on a notional amount of $30.0 million and (ii) pay interest at a fixed rate of 1.3180% and receive variable interest of one-month LIBOR on a notional amount of $30.0 million (the “2021 Swaps”). The effective date of the 2021 Swaps was December 31, 2021, and settlements with the counterparties began on January 31, 2022 and occur on a monthly basis. The 2021 Swaps swill terminate on August 31, 2026. In January 2023, and in connection with related changes to its credit agreement, the Company amended its two interest rate swap agreements to transition the related reference rates in these agreements from LIBOR to SOFR, effective January 31, 2023.

The 2021 Swaps are designated as cash flow hedges for accounting purposes and as such, changes in their fair value are recognized in accumulated other comprehensive income (loss) in the consolidated balance sheet and are reclassified into the statement of operations within interest expense in the period in which the hedged transaction affects earnings.

Fair Values of Derivative Financial Instruments

The fair values of our derivative financial instruments and their classifications in our consolidated balance sheets as of December 31, 2022 were as follows:

	Balance Sheet Classification	December 31, 2022		December 31, 2021
Derivative assets:
Foreign currency forward contracts:
Designated as cash flow hedges	Other current assets	$	359	$	57
Interest rate swap agreements:
Designated as a cash flow hedge	Other assets		5,539		-
Total derivative assets		$	5,898	$	57

Derivative liabilities:
Foreign currency forward contracts:
Not designated as hedging instruments	Other current liabilities	$	-	$	19
Interest rate swap agreements:
Designated as a cash flow hedge	Other long-term liabilities		-		116
Total derivative liabilities		$	-	$	135

Derivative Financial Instruments in Cash Flow Hedging Relationships

The effects of derivative financial instruments designated as cash flow hedges on accumulated other comprehensive loss (“AOCL”) and on the consolidated statements of operations for the years ended December 31, 2022 and 2021 were as follows:

	Year Ended December 31,
	2022			2021
Net (losses) gains recognized in AOCL:
Foreign currency forward contracts	$	(119	)	$	57
Interest rate swap agreements		5,886			(116	)
	$	5,767		$	(59	)

Net (losses) gains reclassified from AOCL to the consolidated statement of operations:
Foreign currency forward contracts	$	(805	)	$	-
Interest rate swap agreements		230			-
	$	(575	)	$	-

The losses related to the foreign currency forward contracts are included as a component of currency translation adjustment on the accompanying consolidated statements of comprehensive income at December 31, 2022 and 2021.

Derivative Financial Instruments Not Designated as Hedging Instruments

(Losses) gains recognized on derivative financial instruments not designated as hedging instruments in our consolidated statements of operations for the years ended December 31, 2022 and 2021 were as follows:

		Year Ended December 31,
	Classification in Consolidated Statements of Operations	2022		2021
Foreign currency forward contracts	Other expense, net		58		62
		$	58	$	62

Note 10 - Debt (Details Textual) - USD ($) $ in Millions			12 Months Ended
Note 10 - Debt (Details Textual) - USD ($) $ in Millions	Sep. 02, 2021	Dec. 11, 2017	Dec. 31, 2022	Dec. 31, 2021
Long-term Debt, Total			$ 95.0
Interest Rate Swap [Member]
Derivative, Notional Amount				$ 30.0
The 2021 Swaps [Member]
Derivative, Notional Amount				$ 60.0
The 2021 Swaps One [Member]
Derivative, Notional Amount			$ 30.0
Derivative, Fixed Interest Rate			1.3055%	1.3055%
The 2021 Swaps Two [Member]
Derivative, Notional Amount			$ 30.0
Derivative, Fixed Interest Rate			1.318%	1.318%
Credit and Security Agreement with KeyBank [Member]
Interest Expense, Debt, Total			$ 3.4	$ 3.5
Write off of Deferred Debt Issuance Cost				$ 0.8
Line of Credit Facility, Interest Rate at Period End			5.51%	1.60%
Effective LIBOR Rate			4.38%	0.10%
Debt Instrument, Interest Rate During Period			3.57%	1.60%
LIBOR Additional Rate	1.00%	1.00%
Long-term Debt, Total				$ 115.0
Line of Credit Facility, Percentage of Capital Stock of Foreign Subsidiaries Collateralized Security	65.00%
Debt Issuance Costs, Net, Total				0.7
Credit and Security Agreement with KeyBank [Member] \| Minimum [Member]
Line of Credit Facility, Commitment Fee Percentage	0.20%
Credit and Security Agreement with KeyBank [Member] \| Maximum [Member]
Line of Credit Facility, Commitment Fee Percentage	0.30%
Credit and Security Agreement with KeyBank [Member] \| Term Loan [Member]
Debt Instrument, Face Amount		$ 125.0		125.0
Long-term Debt, Total				$ 101.9
Credit and Security Agreement with KeyBank [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		0.50%	1.125%	1.50%
Credit and Security Agreement with KeyBank [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.125%	1.375%
Credit and Security Agreement with KeyBank [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.125%	2.75%
Credit and Security Agreement with KeyBank [Member] \| LIBOR With Maturity of One Month [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.125%	0.375%
Credit and Security Agreement with KeyBank [Member] \| LIBOR With Maturity of One Month [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.125%	1.75%
Credit and Security Agreement with KeyBank [Member] \| Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member]
Long-Term Line of Credit, Total			$ 95.0	$ 112.5
Revolving Credit Facility [Member] \| Credit and Security Agreement with KeyBank [Member]
Long-Term Line of Credit, Total				12.0
Line of Credit Facility, Remaining Borrowing Capacity			$ 80.0	62.5
Line of Credit Facility, Maximum Borrowing Capacity	$ 175.0	$ 75.0		$ 75.0
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

Note 10 - Debt (Tables)

12 Months Ended

Dec. 31, 2022

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

2023	$	-
2024		-
2025		-
2026		95,000
2027		-
Total long-term debt		95,000
Less: Current maturities of long-term debt		-
Noncurrent portion of long-term debt	$	95,000

Note 19 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Foreign currency translation adjustment, tax	$ (369)	$ (417)
Unrealized gains (losses) on interest rate swap cash flow hedge, tax	0	0
Unrealized holding gains on available-for-sale securities, tax	(7)	(7)
Change in unfunded SERP liabilityChange in unfunded SERP liability, tax, tax	$ 879	$ (502)

Note 3 - Revenue - Disaggregation of Revenue by Product Group and Sales Channel (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 654,233	$ 543,494
Sales Channel, Directly to Consumer [Member]
Net sales	433,814	365,156
Sales Channel, Through Intermediary [Member]
Net sales	220,419	178,338
Connectivity Solutions [Member]
Net sales	187,085	165,027
Connectivity Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	112,128	99,221
Connectivity Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	74,957	65,806
Power Solutions and Protection [Member]
Net sales	288,366	218,035
Power Solutions and Protection [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	186,439	134,635
Power Solutions and Protection [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	101,927	83,400
Magnetic Solutions [Member]
Net sales	178,782	160,432
Magnetic Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	135,247	131,300
Magnetic Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	43,535	29,132
North America [Member]
Net sales	409,200	317,437
North America [Member] \| Connectivity Solutions [Member]
Net sales	141,585	126,303
North America [Member] \| Power Solutions and Protection [Member]
Net sales	217,381	152,799
North America [Member] \| Magnetic Solutions [Member]
Net sales	50,234	38,335
Europe [Member]
Net sales	88,620	76,561
Europe [Member] \| Connectivity Solutions [Member]
Net sales	35,596	30,241
Europe [Member] \| Power Solutions and Protection [Member]
Net sales	42,121	38,068
Europe [Member] \| Magnetic Solutions [Member]
Net sales	10,903	8,252
Asia [Member]
Net sales	156,413	149,496
Asia [Member] \| Connectivity Solutions [Member]
Net sales	9,904	8,483
Asia [Member] \| Power Solutions and Protection [Member]
Net sales	28,864	27,168
Asia [Member] \| Magnetic Solutions [Member]
Net sales	$ 117,645	$ 113,845

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Note 14 - Retirement Fund and Profit Sharing Plan - Changes in Plan Assets and Benefit Obligation (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Company contributions	$ 606	$ 504
Benefits paid	(606)	(504)
Benefit obligation	23,580	24,308
Service Cost	503	677
Interest Cost	636	540
Benefits paid	(606)	(504)
Actuarial gains	(5,938)	(1,441)
Benefit obligation	18,175	23,580
Underfunded status, December 31	$ (18,175)	$ (23,580)

Amount of contribution received by defined benefit plan from employer which increases plan assets.

Note 7 - Inventories

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Text Block]

7.	INVENTORIES

The components of inventories are as follows:

	December 31,
	2022		2021
Raw materials	$	74,572	$	67,127
Work in progress		44,397		31,103
Finished goods		53,496		41,153
Inventories	$	172,465	$	139,383

Note 15 - Share-based Compensation (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock [Member]
Share-Based Payment Arrangement, Expense	$ 2.4	$ 2.3
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	$ 12.7
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	4 years 4 months 24 days
Restricted Stock [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Common Class B [Member] \| Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares)	322,500	209,000
The 2020 Equity Compensation Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	502,500
The 2020 Equity Compensation Plan [Member] \| Common Class B [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	1,000,000.0

Note 5 - Fair Value Measurements

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Text Block]

5.	FAIR VALUE MEASUREMENTS

As of December 31, 2022 and 2021, our available-for-sale securities primarily consisted of investments held in a rabbi trust which are intended to fund the Company’s Supplemental Executive Retirement Plan (“SERP”) obligations. These securities are measured at fair value using quoted prices in active markets for identical assets (Level 1) inputs and amounted to $0.1 million at December 31, 2022 and $0.3 million at December 31, 2021.

Throughout 2021 and 2022, the Company entered into a series of foreign currency forward contracts, the fair value of which was $0.4 million at December 31, 2022 and less than $0.1 million at December 31, 2021. The estimated fair value of foreign currency forward contracts is based on quotes received from the applicable counterparty, and represents the estimated amount we would receive or pay to settle the contracts, taking into consideration current exchange rates which can be validated through readily observable data from external sources (Level 2).

During the fourth quarter of 2021, the Company entered into two interest rate swap agreements as further described in Note 12, "Derivative Instruments and Hedging Activities". The fair value of the interest rate swap agreements was $5.5 million and $0.1 million at December 31, 2022 and 2021, respectively, which was based on data received from the counterparty, and represents the estimated amount we would receive or pay to settle the agreements, taking into consideration current and projected future interest rates as well as the creditworthiness of the parties, all of which can be validated through readily observable data from external sources.

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 1, Level 2 or Level 3 during 2022 or 2021. There were no changes to the Company’s valuation techniques used to measure asset fair values on a recurring or nonrecurring basis during 2022.

There were no financial assets accounted for at fair value on a nonrecurring basis as of December 31, 2022 or December 31, 2021.

The Company has other financial instruments, such as cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, which are not measured at fair value on a recurring basis but are recorded at amounts that approximate fair value due to their liquid or short-term nature. The fair value of the Company’s long-term debt is estimated using a discounted cash flow method based on interest rates that are currently available for debt issuances with similar terms and maturities. At December 31, 2022 and 2021, the estimated fair value of total debt was $95.0 million and $112.5 million, respectively, compared to a carrying amount of $95.0 million and $112.5 million, respectively. The Company did not have any other financial liabilities within the scope of the fair value disclosure requirements as of December 31, 2022.

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. See Note 4, "Goodwill and Other Intangible Assets," for further information about goodwill and other indefinite-lived intangible assets.

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.

Note 17 - Leases

12 Months Ended

Dec. 31, 2022

Lessee, Operating Leases [Text Block]

17.

LEASES

The Company has operating leases for its facilities used for manufacturing, research and development, sales and administration. There are also operating and finance leases related to manufacturing equipment, office equipment and vehicles. These leases have remaining lease terms ranging from 1 year to 8 years. Certain of the leases contain options to extend the term of the lease and certain of the leases contain options to terminate the lease within a specified period of time. These options to extend or terminate a lease are included in the lease term only when it is reasonably likely that the Company will elect that option. The Company is not a party to any material sublease arrangements.

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

	Year Ended December 31,
	2022		2021
Amortization of ROU assets - finance leases	$	448	$	270
Interest on lease liabilities - finance leases		137		77
Operating lease cost (cost resulting from lease payments)		8,426		8,229
Short-term lease cost		201		183
Variable lease cost (cost excluded from lease payments)		410		297
Sublease income		-		-
Total lease cost	$	9,622	$	9,056

Supplemental cash flow information related to leases is as follows:

	Year Ended December 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,970	$	8,250
Operating cash flows from finance leases		137		77
Finance cash flows from finance leases		423		253
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		8,052		12,595
Finance leases		207		1,862

Supplemental balance sheet information related to leases was as follows:

	2022			2021
Operating Leases:
Operating lease right-of-use assets	$	21,551		$	21,252
Operating lease liability, current		5,870			6,880
Operating lease liability, long-term		15,742			14,668
Total operating lease liabilities	$	21,612		$	21,548

Finance Leases:
Property, plant and equipment, gross	$	3,096		$	2,719
Accumulated depreciation		(1,089	)		(690	)
Property, plant and equipment, net	$	2,007		$	2,029
Other current liabilities	$	446		$	363
Other long-term liabilities		1,608			1,650
Total finance lease liabilities	$	2,054		$	2,013

	2022			2021
Weighted-Average Remaining Lease Term:
Operating leases (in years)		5.1			4.3
Finance leases (in years)		4.9			5.9

Weighted-Average Discount Rate:
Operating leases		6.0	%		6.0	%
Finance leases		6.1	%		6.1	%

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

Maturities of lease liabilities were as follows as of December 31, 2022:

Year Ending	Operating			Finance
December 31,	Leases			Leases
2023	$	6,766		$	587
2024		4,937			574
2025		4,154			404
2026		3,836			380
2027		2,239			312
Thereafter		3,176			259
Total undiscounted cash flows		25,108			2,516
Less imputed interest		(3,496	)		(462	)
Present value of lease liabilities	$	21,612		$	2,054

Note 19 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Foreign currency translation adjustment, net of taxes of ($369) at December 31, 2022 and ($417) at December 31, 2021	$ (23,107)	$ (14,911)
Unrealized holding gains (losses) on interest rate swap cash flow hedge, net of taxes of $0 at December 31, 2022 and $0 at December 31, 2021	5,539	(116)
Unrealized holding gains on marketable securities, net of taxes of ($7) at December 31, 2022 and ($7) at December 31, 2021	18	29
Unfunded SERP liability, net of taxes of $879 at December 31, 2022 and ($502) at December 31, 2021	1,004	(3,865)
Accumulated other comprehensive loss	$ (16,546)	$ (18,863)

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.

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

12 Months Ended

Dec. 31, 2022

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

	Year Ended December 31,
	2022		2021
Numerator:
Net earnings	$	52,689	$	24,821
Less dividends declared:
Class A		514		515
Class B		2,922		2,862
Undistributed earnings	$	49,253	$	21,444

Undistributed earnings allocation:
Class A undistributed earnings	$	8,084	$	3,561
Class B undistributed earnings		41,169		17,883
Total undistributed earnings	$	49,253	$	21,444

Net earnings allocation:
Class A net earnings	$	8,598	$	4,076
Class B net earnings		44,091		20,745
Net earnings	$	52,689	$	24,821

Denominator:
Weighted average shares outstanding:
Class A		2,143		2,145
Class B		10,394		10,258

Net earnings per share:
Class A	$	4.01	$	1.90
Class B	$	4.24	$	2.02

Note 4 - Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Goodwill [Table Text Block]


	Total			Connectivity Solutions			Power Solutions & Protection			Magnetic Solutions
Balance at January 1, 2022:
Goodwill, gross	$	26,651		$	7,735		$	18,916		$	-
Goodwill, net	$	26,651		$	7,735		$	18,916		$	-

Goodwill allocation related to acquisition		-			-			-			-
Foreign currency translation		(1,552	)		(788	)		(764	)		-

Balance at December 31, 2022:
Goodwill, gross	$	25,099		$	6,947		$	18,152		$	-
Goodwill, net	$	25,099		$	6,947		$	18,152		$	-

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

Reporting Unit	% by Which Estimated Fair Value Exceeds Carrying Value
Connectivity Europe	69.0	%
Power Europe	84.4	%
CUI	172.9	%

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

	December 31, 2022						December 31, 2021
	Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount

Patents, licenses and technology	$	38,607	$	30,156	$	8,451	$	38,957	$	28,353	$	10,604
Customer relationships		56,917		28,096		28,821		58,008		24,766		33,242
Non-compete agreements		2,662		2,662		-		2,711		2,711		-
Trademarks		16,999		160		16,839		17,189		40		17,149

	$	115,185	$	61,074	$	54,111	$	116,865	$	55,870	$	60,995

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

December 31,	Amortization Expense

2023	$	4,637
2024		4,557
2025		4,557
2026		4,432
2027		4,432

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Note 3 - Revenue

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Text Block]

REVENUE

Nature of Goods and Services

Our revenues are substantially derived from sales of our products.

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

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

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

The Company also provides incremental services to our customers in the form of training, technical support, special tooling, and other support as deemed necessary from time to time. For purposes of ASC 606, all such incremental services were concluded to be immaterial in the context of the contracts.

Types of Contracts

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

•

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

•

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

•

Customer-Designated Hub Arrangements: These customers operate under a type of concession agreement whereby the Company ships goods to a warehouse or hub, where they will be pulled by the customer at a later date. The terms specified in the customer-designated hub contracts specify that the Company will not invoice the customer for product until it is pulled from the warehouse or hub. Once product arrives at the hub, it is generally not returned to Bel unless there is a warranty issue (see Note 1, "Description of Business and Summary of Significant Accounting Policies - Product Warranties" above). Similar to the contracts described above, each product on each purchase order is considered an individual performance obligation. Under ASC 606, it was determined that the majority of these hubs are customer-controlled, and therefore control transfers to the customer upon either delivery from Bel's warehouse, or arrival at the customer-controlled hub, depending upon the applicable shipping terms. Revenue is therefore recognized as control of the product is transferred to the customer (for customer-controlled hubs, this is at the time product is shipped to the hub). The accompanying consolidated balance sheet reflects a corresponding unbilled receivable balance, as we do not have the right to invoice the customer until product is pulled from the hub.

•

Licensing Agreements: License agreements are only applicable to our Power Solutions and Protection product group, and include provisions for Bel to receive sales-based royalty income related to the licensing of Bel's patents or other intellectual property (IP) utilized by a third-party entity. Income related to these agreements is tracked by the licensee throughout the year based on their sales of product that utilize Bel's IP, and that data is reported to Bel either on a quarterly or annual basis, with payment generally received within 30 days of the reporting date. Our performance obligation is satisfied upon delivery of the IP at the beginning of the license period, as the licenses are functional in nature. However, the recognition of revenue associated with these licenses is subject to the sales- or usage-based constraint on variable consideration. As such, the Company records a constrained estimate of this variable consideration as royalty income in the period of the underlying customers' product sales, with adjustments made as actual licensee sales data becomes available.

Significant Payment Terms

Contracts with customers indicate the general terms and conditions in which business will be conducted for a set period of time. Individual purchase orders state the description, quantity and price of each product purchased. Payment for products sold under direct contracts with customers or contracts with distributors is typically due in full within 30-90 days from the transfer of title to the customer. Payment for products sold under our customer-designated hub arrangements is typically due within 60 days of the customer pulling the product from the hub. Payment due related to our licensing agreements is generally within 30 days of receiving the licensee sales data, which is either on a quarterly or annual basis.

Since the customer agrees to a stated price for each product on each purchase order, the majority of contracts are not subject to variable consideration. However, the "ship and debit" arrangements with distributors, royalty income associated with our licensing agreements, and the product returns described above are each deemed to be variable consideration which requires the Company to make constrained estimates based on historical data.

Disaggregation of Revenue

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

	Year Ended December 31, 2022
	Connectivity		Power Solutions		Magnetic
	Solutions		and Protection		Solutions		Consolidated

*By Geographic Region:*
North America	$	141,585	$	217,381	$	50,234	$	409,200
Europe		35,596		42,121		10,903		88,620
Asia		9,904		28,864		117,645		156,413
	$	187,085	$	288,366	$	178,782	$	654,233

*By Sales Channel:*
Direct to customer	$	112,128	$	186,439	$	135,247	$	433,814
Through distribution		74,957		101,927		43,535		220,419
	$	187,085	$	288,366	$	178,782	$	654,233

	Year Ended December 31, 2021
	Connectivity		Power Solutions		Magnetic
	Solutions		and Protection		Solutions		Consolidated

*By Geographic Region:*
North America	$	126,303	$	152,799	$	38,335	$	317,437
Europe		30,241		38,068		8,252		76,561
Asia		8,483		27,168		113,845		149,496
	$	165,027	$	218,035	$	160,432	$	543,494

*By Sales Channel:*
Direct to customer	$	99,221	$	134,635	$	131,300	$	365,156
Through distribution		65,806		83,400		29,132		178,338
	$	165,027	$	218,035	$	160,432	$	543,494

Contract Assets and Contract Liabilities:

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

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

The balances of the Company's contract assets and contract liabilities at December 31, 2022 and December 31, 2021 are as follows:

	December 31,		December 31,
	2022		2021

Contract assets - current (unbilled receivables)	$	18,244	$	28,275
Contract liabilities - current (deferred revenue)	$	8,847	$	2,224

The change in balance of our unbilled receivables from December 31, 2021 to December 31, 2022 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 deferred revenue balance is included within other current liabilities on the accompanying balance sheets.

A tabular presentation of the activity within the deferred revenue account for the year ended December 31, 2022 is presented below:

	Year Ended
	December 31, 2022
Balance, January 1	$	2,224
New advance payments received		10,624
Recognized as revenue during period		(3,944	)
Other adjustments		5
Currency translation		(62	)
Balance, December 31	$	8,847

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.

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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

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Note 11 - Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Accrued Liabilities [Table Text Block]

	December 31,
	2022		2021
Salaries, bonuses and related benefits	$	27,422	$	21,342
Deferred revenue		8,847		2,224
Accrued restructuring costs		6,796		9
Sales commissions		2,521		2,049
Subcontracting labor		1,875		1,622
Warranty accrual		1,287		1,056
Other		2,125		6,151
	$	50,873	$	34,453

Restructuring and Related Costs [Table Text Block]

			Year Ended
			December 31, 2022
	Liability at				Cash Payments			Liability at
	December 31,		New		and Other			December 31,
	2021		Charges		Settlements			2022
Severance costs	$	9	$	3,916	$	(535	)	$	3,390
Other restructuring costs		-		3,406		-			3,406
Total	$	9	$	7,322	$	(535	)	$	6,796

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative Asset, Total	$ 5,898	$ 57
Long-Term Debt, Fair Value	95,000	112,500
Long-Term Debt, Gross	95,000	112,500
Fair Value, Nonrecurring [Member]
Assets, Fair Value Disclosure, Total	0	0
Foreign Exchange Forward [Member]
Derivative Asset, Total	400
Foreign Exchange Forward [Member] \| Maximum [Member]
Derivative Asset, Total		100
Interest Rate Swap [Member]
Derivative Asset, Total	5,500	100
Investments Held in Rabbi Trust [Member]
Debt Securities, Available-for-Sale, Total	$ 100	$ 300

Note 13 - Segments

12 Months Ended

Dec. 31, 2022

Segment Reporting Disclosure [Text Block]

13.

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 Connectivity Solutions, Power Solutions and Protection, Magnetic Solutions and a Corporate segment. The primary criteria by which financial performance is evaluated and resources are allocated are net sales and gross profit. The following is a summary of key financial data:

	Year Ended December 31, 2022
	Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Net sales	$	187,085		$	288,366		$	178,782		$	-		$	654,233
Gross Profit		48,488			87,840			49,290			(2,165	)		183,453
Gross Profit %		25.9	%		30.5	%		27.6	%		nm			28.0	%
Total Assets		170,895			234,095			107,891			47,585			560,466
Capital Expenditures		4,566			3,916			350			-			8,832
Depreciation and Amortization Expense		6,145			6,470			2,133			115			14,863

	Year Ended December 31, 2021
	Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Net sales	$	165,027		$	218,035		$	160,432		$	-		$	543,494
Gross Profit		43,501			58,823			34,106			(2,047	)		134,383
Gross Profit %		26.4	%		27.0	%		21.3	%		nm			24.7	%
Total Assets		147,813			206,719			104,845			52,469			511,846
Capital Expenditures		1,768			4,718			2,911			-			9,397
Depreciation and Amortization Expense		6,683			8,022			2,126			30			16,861

Entity-Wide Information

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

	Year Ended December 31,
	2022		2021
*Net Sales by Geographic Location:*

United States	$	409,199	$	317,436
People's Republic of China		77,061		83,263
Macao		61,744		53,802
United Kingdom		21,903		20,000
Slovakia		22,120		19,407
Germany		24,112		17,856
India		17,608		12,430
Switzerland		9,893		8,315
All other foreign countries		10,593		10,985
Consolidated net sales	$	654,233	$	543,494

*Net Sales by Major Product Line:*

Connectivity solutions	$	187,085	$	165,027
Magnetic solutions		178,782		160,432
Power solutions and protection		288,366		218,035
Consolidated net sales	$	654,233	$	543,494

The following is a summary of long-lived assets by geographic area as of December 31, 2022 and 2021:

	December 31,
	2022		2021
*Long-lived Assets by Geographic Location:*

United States	$	33,875	$	30,438
People's Republic of China (PRC)		28,222		29,904
Slovakia		6,738		6,675
United Kingdom		1,109		1,264
All other foreign countries		1,072		1,190
Consolidated long-lived assets	$	71,016	$	69,471

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

The territory of Hong Kong became a Special Administrative Region ("SAR") of the PRC in the middle of 1997. The territory of Macao became a SAR of the PRC at the end of 1999. Management cannot presently predict what future impact this will have on the Company, if any, or how the political climate in the PRC will affect the Company's contractual arrangements in the PRC. A significant portion of the Company's manufacturing operations and approximately 35.2% of its identifiable assets are located in Asia.

Net Sales to Major Customers

The Company had net sales to one customer in excess of ten percent of consolidated net sales in 2022 and 2021. The net sales associated with this customer were $83.9 million (12.8% of sales) in 2022 and $57.8 million (10.6% of sales) in 2021. Net sales related to this significant customer were primarily reflected in the Magnetic Solutions operating segment.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Note 1 - Description of Business and Summary of Significant Accounting Policies (Details Textual) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Foreign Currency Transaction Gain (Loss), before Tax, Total	$ 278	$ (44)
Intangible Assets, Percent of Total Assets	9.70%	11.90%
Excessive Dividend Rate of Class B Over Class A	5.00%
Excessive Undistributed Earnings Allocation Rate of Class B Over Class A	5.00%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0
Research and Development Expense, Total	$ 20,238	$ 21,891
Maximum [Member]
Foreign Currency Transaction Gain (Loss), before Tax, Total		$ (100)
Standard Product Warranty, Period (Year)	3 years
Finite-Lived Intangible Asset, Useful Life (Year)	16 years
Maximum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	33 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	14 years
Minimum [Member]
Standard Product Warranty, Period (Year)	1 year
Finite-Lived Intangible Asset, Useful Life (Year)	1 year
Minimum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	1 year
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years

Note 6 - Other Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Liability, Defined Benefit Plan, Noncurrent, Total	$ 18,522	$ 23,909
Liability, Defined Benefit Plan, Noncurrent, Total	18,522	23,909
Cash Surrender Value, Fair Value Disclosure	13,900	16,100
Increase (Decrease) in Cash Surrender Value	(2,200)	1,300
Investments Held in Rabbi Trust [Member]
Debt Securities, Available-for-Sale, Amortized Cost, Total	100	300
Debt Securities, Available-for-Sale, Total	100	300
Supplemental Employee Retirement Plan [Member]
Liability, Defined Benefit Plan, Noncurrent, Total	18,200	23,600
Liability, Defined Benefit Plan, Noncurrent, Total	18,200	23,600
Investments, Fair Value Disclosure, Total	$ 14,000	$ 16,400

Note 9 - Income Taxes - Liability for Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Liability for uncertain tax positions	$ 28,434	$ 28,516
Additions based on tax positions related to the current year	1,284	2,054
Translation adjustment	(1,121)
Translation adjustment		331
Settlement/expiration of statutes of limitations	(3,799)	(2,467)
Liability for uncertain tax positions	$ 24,798	$ 28,434

Note 2 - Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

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		-			2,160			2,160
Other assets		-			60			60
Total identifiable assets		9,273			11,867			21,140

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			9,213			18,215
Goodwill		-			2,499			2,499
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]

	Year Ended
	December 31,
	2022		2021
Revenue, net	$	654,233	$	546,516
Net earnings		52,689		25,051
Earnings per Class A common share - basic and diluted		4.01		1.92
Earnings per Class B common share - basic and diluted		4.24		2.04

Note 2 - Acquisitions

12 Months Ended

Dec. 31, 2022

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 complemented Bel's existing military and aerospace product portfolio and enabled 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 part 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 enhances Bel's position related to certain industrial and medical markets historically 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 diversified Bel's manufacturing footprint in Asia. The EOS business is part 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 fair values and the Company's consolidated results of operations for the year ended December 31, 2021 include the operating results of the 2021 Acquired Companies from their respective acquisition dates through December 31, 2021. During the year ended December 31, 2021, the Company incurred $0.5 million of acquisition-related costs related to the 2021 Acquisitions. No acquisition-related costs were incurred during 2022. These costs are included in selling, general and administrative expenses in the accompanying consolidated statements of operations.

The final accounting related to the 2021 Acquisitions was completed as of the filing date of this Annual Report on Form 10-K. The following table depicts the Company's final 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		-			2,160			2,160
Other assets		-			60			60
Total identifiable assets		9,273			11,867			21,140

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			9,213			18,215
Goodwill		-			2,499			2,499
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 2021 on the EOS acquisition related to finalization of EOS' pre-acquisition balance sheet and the Company's completion of its preliminary valuation of EOS whereby $2.2 million of intangible assets were identified and recorded on the consolidated balance sheet as of the acquisition date. These intangible assets are comprised of customer relationships valued at $1.9 million (to be amortized over an estimated life of 16 years) and the tradename, valued at $0.3 million (to be amortized over an estimated life of 2 years).

Based upon the purchase price allocation above, there is no goodwill associated with the rms acquisition. The goodwill recognized in connection with the EOS acquisition as noted above has been allocated to the Company's Power Solutions and Protection segment and is not deductible for tax purposes.

The results of operations of the 2021 Acquired Companies have been included in the Company’s consolidated financial statements for the periods subsequent to their respective acquisition dates. During the year ended December 31, 2021, the 2021 Acquired Companies together contributed aggregate revenues of $17.1 million and total estimated net earnings of $1.9 million to the Company since their respective acquisition dates. 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, 2021. 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, 2021, 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, 2021:

	Year Ended
	December 31,
	2022		2021
Revenue, net	$	654,233	$	546,516
Net earnings		52,689		25,051
Earnings per Class A common share - basic and diluted		4.01		1.92
Earnings per Class B common share - basic and diluted		4.24		2.04

Note 11 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Salaries, bonuses and related benefits	$ 27,422	$ 21,342
Deferred revenue	8,847	2,224
Accrued restructuring costs	6,796	9
Sales commissions	2,521	2,049
Subcontracting labor	1,875	1,622
Warranty accrual	1,287	1,056
Other	2,125	6,151
Accrued Liabilities, Current, Total	$ 50,873	$ 34,453

Note 12 - Derivative Instruments and Hedging Activities - (Losses) Gains Recognized on Derivatives Instruments Not Designated as Hedging (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Derivative instruments gain (loss)	$ 58	$ 62
Foreign Exchange Forward [Member] \| Nonoperating Income (Expense) [Member]
Derivative instruments gain (loss)	$ 58	$ 62

Note 15 - Share-based Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Outstanding, shares (in shares)	461,850
Outstanding, weighted average award price (in dollars per share)	$ 16.94
Outstanding, weighted average remaining contractual term (Year)	4 years 4 months 24 days	3 years 2 months 12 days
Granted, shares (in shares)	322,500
Granted, weighted average award price (in dollars per share)	$ 36.87
Vested, shares (in shares)	(108,350)
Vested, weighted average award price (in dollars per share)	$ 21.28
Forfeited, shares (in shares)	(39,500)
Forfeited, weighted average award price (in dollars per share)	$ 16.66
Outstanding, shares (in shares)	636,500	461,850
Outstanding, weighted average award price (in dollars per share)	$ 26.31	$ 16.94

Note 19 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2022

Comprehensive Income (Loss) Note [Text Block]

19.

ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of accumulated other comprehensive loss as of December 31, 2022 and 2021 are summarized below:

	December 31,
	2022			2021

Foreign currency translation adjustment, net of taxes of ($369) at December 31, 2022 and ($417) at December 31, 2021	$	(23,107	)	$	(14,911	)
Unrealized holding gains (losses) on interest rate swap cash flow hedge, net of taxes of $0 at December 31, 2022 and $0 at December 31, 2021		5,539			(116	)
Unrealized holding gains on marketable securities, net of taxes of ($7) at December 31, 2022 and ($7) at December 31, 2021		18			29
Unfunded SERP liability, net of taxes of $879 at December 31, 2022 and ($502) at December 31, 2021		1,004			(3,865	)

Accumulated other comprehensive loss	$	(16,546	)	$	(18,863	)

Changes in accumulated other comprehensive (loss) income by component during the years ended December 31, 2022 and 2021 are as follows. All amounts are net of tax.

	Foreign Currency Translation Adjustment			Unrealized Gains (Losses) on Interest Rate Swap Cash Flow Hedge			Unrealized Holding Gains (Losses) on Marketable Securities			Unfunded SERP Liability				Total

Balance at January 1, 2021	$	(13,142	)	$	-		$	19		$	(4,940	)		$	(18,063	)

Other comprehensive income (loss) before reclassifications		(1,769	)		(116	)		10			1,431				(444	)
Amounts reclassified from accumulated other comprehensive income (loss)		-			-						(356	)	(a)		(356	)
Net current period other comprehensive income (loss)		(1,769	)		(116	)		10			1,075				(800	)

Balance at December 31, 2021		(14,911	)		(116	)		29			(3,865	)			(18,863	)

Other comprehensive income (loss) before reclassifications		(7,391	)		5,655			(11	)		5,119				3,372
Amounts reclassified from accumulated other comprehensive income (loss)		(805	)		-						(250	)	(a)		(1,055	)
Net current period other comprehensive income (loss)		(8,196	)		5,655			(11	)		4,869				2,317

Balance at December 31, 2022	$	(23,107	)	$	5,539		$	18		$	1,004			$	(16,546	)

(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, net on the accompanying consolidated statement of operations.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Certain amounts in the consolidated financial statements as of and for the year ended December 31, 2021 have been reclassified to conform to current year presentation for comparative purposes.

Use of Estimates, Policy [Policy Text Block]

Cash and Cash Equivalents, Policy [Policy Text Block]

Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]

Foreign Currency Transactions and Translations Policy [Policy Text Block]

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

Inventory, Policy [Policy Text Block]

Revenue from Contract with Customer [Policy Text Block]

Standard Product Warranty, Policy [Policy Text Block]

Product Returns [Policy Text Block]

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

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

Depreciation, Depletion, and Amortization [Policy Text Block]

Derivatives, Policy [Policy Text Block]

Income Tax, Policy [Policy Text Block]

Earnings Per Share, Policy [Policy Text Block]

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

	Year Ended December 31,
	2022		2021
Numerator:
Net earnings	$	52,689	$	24,821
Less dividends declared:
Class A		514		515
Class B		2,922		2,862
Undistributed earnings	$	49,253	$	21,444

Undistributed earnings allocation:
Class A undistributed earnings	$	8,084	$	3,561
Class B undistributed earnings		41,169		17,883
Total undistributed earnings	$	49,253	$	21,444

Net earnings allocation:
Class A net earnings	$	8,598	$	4,076
Class B net earnings		44,091		20,745
Net earnings	$	52,689	$	24,821

Denominator:
Weighted average shares outstanding:
Class A		2,143		2,145
Class B		10,394		10,258

Net earnings per share:
Class A	$	4.01	$	1.90
Class B	$	4.24	$	2.02

Research and Development Expense, Policy [Policy Text Block]

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

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

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

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards

Recently Adopted Accounting Standards

Accounting Standards Issued But Not Yet Adopted

Note 9 - Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Text Block]

9.	INCOME TAXES

The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. The Company is no longer subject to U.S. federal examinations by tax authorities for years before 2019 and for state examinations before 2016. Regarding foreign subsidiaries, the Company is no longer subject to examination by tax authorities for years before 2012 in Asia and generally 2014 in Europe.

At December 31, 2022 and 2021, the Company has approximately $24.8 million and $28.4 million, respectively, of liabilities for uncertain tax positions. These amounts, if recognized, would reduce the Company’s effective tax rate. As of December 31, 2022, approximately $5.6 million of the Company’s liabilities for uncertain tax positions are expected to be resolved during the next twelve months by way of expiration of the related statute of limitations.

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

	Year Ended December 31,
	2022			2021
Liability for uncertain tax positions - January 1	$	28,434		$	28,516
Additions based on tax positions related to the current year		1,284			2,054
Translation adjustment		(1,121	)		331
Settlement/expiration of statutes of limitations		(3,799	)		(2,467	)
Liability for uncertain tax positions - December 31	$	24,798		$	28,434

The Company’s policy is to recognize interest and penalties related to uncertain tax positions as a component of the current provision for income taxes. During the years ended December 31, 2022 and 2021, the Company recognized $0.6 million and $0.7 million, respectively, in interest and penalties in the consolidated statements of operations. During the years ended December 31, 2022 and 2021, the Company recognized a benefit of $1.6 million and $1.0 million, respectively, for the reversal of such interest and penalties, relating to the expiration of statues of limitations and settlement of the acquired liability for uncertain tax positions, respectively. The Company has approximately $4.0 million and $5.0 million accrued for the payment of interest and penalties at December 31, 2022 and 2021, respectively, which is included in both income taxes payable and liability for uncertain tax positions in the consolidated balance sheets.

The Company’s total earnings before provision for income taxes included losses from domestic operations of $14.2 million and $7.3 million for 2022 and 2021, respectively, and earnings before provision for income taxes from foreign operations of $44.8 million and $20.0 million for 2022 and 2021, respectively.

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

	Year Ended December 31,
	2022			2021
Current:
Federal	$	9,175		$	520
State		787			126
Foreign		1,002			1,419
		10,964			2,065
Deferred:
Federal		(4,064	)		863
State		(255	)		(54	)
Foreign		(275	)		(368	)
		(4,594	)		441

	$	6,370		$	2,506

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

	Year Ended December 31,
	2022						2021
	$			%			$			%
Tax provision computed at the federal statutory rate	$	12,402			21	%	$	5,739			21	%
(Decrease) increase in taxes resulting from:
Different tax rates applicable to foreign operations		(1,677	)		(3	%)		(1,641	)		(6	%)
Reversal of liability for uncertain tax positions - net		(2,515	)		(4	%)		(413	)		(2	%)
Research and experimentation and foreign tax credits		(139	)		(0	%)		343			1	%
State taxes, net of federal benefit		292			0	%		42			0	%
SERP/COLI and restricted stock income		733			1	%		(172	)		(1	%)
Other, net		(2,726	)		(5	%)		(1,392	)		(5	%)
Tax provision computed at the Company's effective tax rate	$	6,370			11	%	$	2,506			9	%

As of December 31, 2022, the Company has $24.1 million of deferred tax assets, which the Company evaluates for utilization on an annual basis. The Company has gross federal, state and foreign net operating losses (“NOL”) of $15.1 million which amount to $3.3 million of deferred tax assets. In addition, the Company has $1.3 million of credit carryforwards and acquired deferred tax assets of $0.9 million. The Company believes that it is more likely than not that the benefit arising from certain NOL, credit carryforwards and acquisition assets will not be realized. In recognition of this risk, the Company has provided a valuation allowance of $4.0 million on these deferred tax assets. The federal and certain foreign NOL's can be carried forward indefinitely, the state and certain foreign NOL's expire at various times during 2026 – 2041 and the tax credit carryforwards expire at various times during 2029 - 2041.

Management has no specific plans to indefinitely reinvest the unremitted earnings of our foreign subsidiaries as of December 31, 2022. Applicable income and dividend withholding taxes of $0.2 million have been reflected in the accompanying consolidated statements of operations for the year ended December 31, 2022. Due to the practicality of determining the deferred taxes on outside basis differences in our investments in our foreign subsidiaries, we have not provided for deferred taxes on outside basis differences and deemed that these basis differences will be indefinitely reinvested.

Components of deferred income tax assets and liabilities are as follows:

	December 31,
	2022			2021
	Tax Effect			Tax Effect

Deferred tax assets:
State tax credits	$	571		$	812
(Decrease) increase in unfunded pension liability		(416	)		965
Reserves and accruals		4,947			4,124
Federal, state and foreign net operating loss and credit carryforwards		4,316			7,586
Depreciation		437			488
Amortization		2,968			130
Lease accounting		4,816			4,592
Other accruals		6,486			6,364
Total deferred tax assets		24,125			25,061
Deferred tax liabilities:
Depreciation		2,227			2,450
Amortization		6,178			6,483
Lease accounting		4,889			4,522
Other accruals		780			573
Total deferred tax liabilities		14,074			14,028
Valuation allowance		4,027			8,059
Net deferred tax assets	$	6,024		$	2,974

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

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Note 14 - Retirement Fund and Profit Sharing Plan (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
Supplemental Employee Retirement Plan [Member]
Deferred Compensation Arrangement with Individual, Compensation Expense	$ 100
Defined Benefit Plan, Percentage of Average Base Compensation Five Consecutive Years, Normal Retirement	40.00%
Defined Benefit Plan, Number of Monthly Payments	120
Percentage of Participant's Annual Base Salary Received by Beneficiary, One Year From Date of Death	100.00%
Percentage of Participant's Annual Base Salary Received by Beneficiary, Following Four Years From Date of Death	50.00%
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	$ 1,451	$ 1,726
Defined Benefit Plan, Accumulated Benefit Obligation	17,000	21,800
Investments, Fair Value Disclosure, Total	14,000	16,400
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	800
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 0
Bel Fuse Inc. Employees' Savings Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent Of Match, First 1% Employee Contribution	100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match, Next 5% Employee Contribution	50.00%
Defined Contribution Plan, Cost	$ 1,300	1,200
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class A [Member]
Shares Held in Plan (in shares) \| shares	311,417
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class B [Member]
Shares Held in Plan (in shares) \| shares	92,809
Nonqualified Deferred Compensation Plan [Member]
Deferred Compensation Arrangement, Vesting Age	65
Deferred Compensation Plan Assets	$ 700	800
Nonqualified Deferred Compensation Plan [Member] \| Maximum [Member]
Deferred Compensation Arrangement with Individual, Compensation Expense	100	100
Retirement Fund Covering Hong Kong-based Employees [Member]
Defined Contribution Plan, Cost	$ 1,800	$ 2,700
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	5.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	7.00%
Retirement Fund Covering Hong Kong-based Employees [Member] \| Minimum [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	5.00%
Retirement Fund Covering Hong Kong-based Employees [Member] \| Common Class A [Member]
Shares Held in Plan (in shares) \| shares	0	3,323
Retirement Fund Covering Hong Kong-based Employees [Member] \| Common Class B [Member]
Shares Held in Plan (in shares) \| shares		17,342

Note 17 - Leases (Details Textual)	12 Months Ended
Note 17 - Leases (Details Textual)	Dec. 31, 2022
Minimum [Member]
Operating and Finance Leases, Remaining Lease Term (Year)	1 year
Maximum [Member]
Operating and Finance Leases, Remaining Lease Term (Year)	8 years

Note 13 - Segments - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Long-lived assets	$ 71,016	$ 69,471
UNITED STATES
Long-lived assets	33,875	30,438
CHINA
Long-lived assets	28,222	29,904
SLOVAKIA
Long-lived assets	6,738	6,675
UNITED KINGDOM
Long-lived assets	1,109	1,264
All Other Foreign Countries [Member]
Long-lived assets	$ 1,072	$ 1,190

Note 20 - Subsequent Events

12 Months Ended

Dec. 31, 2022

Subsequent Events [Text Block]

20.

SUBSEQUENT EVENTS

Investment in innolectric AG

On February 1, 2023, the Company closed on a noncontrolling (one-third) investment in Germany-based innolectric AG ("innolectric") for consideration of €8.0 million (approximately $8.8 million). Under the terms of the investment agreement, if innolectric achieves certain profitability thresholds within a specified timeframe, the Company would be committed to acquiring the remaining shares of innolectric at that time.

Credit Agreement Items

On January 12, 2023, the Company amended its New Credit Agreement for the purpose of transitioning its reference rate related to interest from LIBOR to SOFR. In connection with this change to its credit agreement, on January 18, 2023, the Company amended its two interest rate swap agreements, further described in Note 12, "Derivative Instruments and Hedging Activities" to also transition the related reference rates in these agreements from LIBOR to SOFR, effective January 31, 2023.

In January 2023, the Company borrowed an additional $5.0 million from its revolving credit facility.

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net earnings	$ 52,689	$ 24,821
Other comprehensive income (loss):
Currency translation adjustment, net of taxes of ($47) and ($334)	(8,196)	(1,769)
Unrealized gains (losses) on interest rate swap cash flow hedge, net of taxes of $0 in both periods	5,655	(116)
Unrealized holding (losses) gains on marketable securities arising during the period, net of taxes of $0 in both periods	(11)	10
Change in unfunded SERP liability, net of taxes of ($1,381) and ($875)	4,869	1,075
Other comprehensive income (loss)	2,317	(800)
Comprehensive income	$ 55,006	$ 24,021

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

Note 11 - Accrued Expenses - Activity and Liability Balances Related to Restructuring Costs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Liability, beginning balance	$ 9
New charges	7,322
Cash payment and other settlements	(535)
Liability, ending balance	6,796
Employee Severance [Member]
Liability, beginning balance	9
New charges	3,916
Cash payment and other settlements	(535)
Liability, ending balance	3,390
Other Restructuring [Member]
Liability, beginning balance	0
New charges	3,406
Cash payment and other settlements	0
Liability, ending balance	$ 3,406

Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Unrecognized Tax Benefits, Ending Balance	$ 24,798	$ 28,434	$ 28,516
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	5,600
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total	600	700
Income Tax Expense (Benefit) on Reversal of Interest and Penalties	1,600	1,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	4,000	5,000
Income (Loss) from Continuing Operations before Income Taxes, Domestic	14,200	7,300
Income (Loss) from Continuing Operations before Income Taxes, Foreign	44,800	20,000
Deferred Tax Assets, Gross, Total	24,125	25,061
Deferred Tax Assets, Operating Loss Carryforwards, Total	4,316	7,586
Tax Credit Carryforward, Amount	1,300
Deferred Tax Assets, Tax Credit Carryforwards, Total	900
Deferred Tax Assets, Valuation Allowance	4,027	$ 8,059
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	200
Federal and State and Local Authority [Member]
Operating Loss Carryforwards	15,100
Deferred Tax Assets, Operating Loss Carryforwards, Total	$ 3,300

Note 2 - Acquisitions - Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands			12 Months Ended
	Mar. 31, 2021	Jan. 08, 2021	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021
Goodwill, Ending Balance			$ 25,099	$ 26,651	$ 26,651
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
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	2,160				$ 2,200
Other assets	60
Total identifiable assets	11,867
Accounts payable	(2,148)
Accrued expenses	(506)
Total liabilities assumed	(2,654)
Net identifiable assets acquired	9,213
Goodwill, Ending Balance	2,499
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			2,160
Other assets			60
Total identifiable assets			21,140
Accounts payable			(2,210)
Accrued expenses			(715)
Total liabilities assumed			(2,925)
Net identifiable assets acquired			18,215
Goodwill, Ending Balance			2,499
Net assets acquired			20,714
Cash paid			20,714
Fair value of consideration transferred			$ 20,714

Note 13 - Segments (Tables)

12 Months Ended

Dec. 31, 2022

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

	Year Ended December 31, 2022
	Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Net sales	$	187,085		$	288,366		$	178,782		$	-		$	654,233
Gross Profit		48,488			87,840			49,290			(2,165	)		183,453
Gross Profit %		25.9	%		30.5	%		27.6	%		nm			28.0	%
Total Assets		170,895			234,095			107,891			47,585			560,466
Capital Expenditures		4,566			3,916			350			-			8,832
Depreciation and Amortization Expense		6,145			6,470			2,133			115			14,863

	Year Ended December 31, 2021
	Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Net sales	$	165,027		$	218,035		$	160,432		$	-		$	543,494
Gross Profit		43,501			58,823			34,106			(2,047	)		134,383
Gross Profit %		26.4	%		27.0	%		21.3	%		nm			24.7	%
Total Assets		147,813			206,719			104,845			52,469			511,846
Capital Expenditures		1,768			4,718			2,911			-			9,397
Depreciation and Amortization Expense		6,683			8,022			2,126			30			16,861

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

	Year Ended December 31,
	2022		2021
*Net Sales by Geographic Location:*

United States	$	409,199	$	317,436
People's Republic of China		77,061		83,263
Macao		61,744		53,802
United Kingdom		21,903		20,000
Slovakia		22,120		19,407
Germany		24,112		17,856
India		17,608		12,430
Switzerland		9,893		8,315
All other foreign countries		10,593		10,985
Consolidated net sales	$	654,233	$	543,494

*Net Sales by Major Product Line:*

Connectivity solutions	$	187,085	$	165,027
Magnetic solutions		178,782		160,432
Power solutions and protection		288,366		218,035
Consolidated net sales	$	654,233	$	543,494

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

	December 31,
	2022		2021
*Long-lived Assets by Geographic Location:*

United States	$	33,875	$	30,438
People's Republic of China (PRC)		28,222		29,904
Slovakia		6,738		6,675
United Kingdom		1,109		1,264
All other foreign countries		1,072		1,190
Consolidated long-lived assets	$	71,016	$	69,471

Note 13 - Segments - Net Sales to External Customers by Geographic Area and by Major Product Line (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 654,233	$ 543,494
Connectivity Solutions [Member]
Net sales	187,085	165,027
Magnetic Solutions [Member]
Net sales	178,782	160,432
Power Solutions and Protection [Member]
Net sales	288,366	218,035
UNITED STATES
Net sales	409,199	317,436
CHINA
Net sales	77,061	83,263
MACAO
Net sales	61,744	53,802
UNITED KINGDOM
Net sales	21,903	20,000
SLOVAKIA
Net sales	22,120	19,407
GERMANY
Net sales	24,112	17,856
INDIA
Net sales	17,608	12,430
SWITZERLAND
Net sales	9,893	8,315
All Other Foreign Countries [Member]
Net sales	$ 10,593	$ 10,985

Note 3 - Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Disaggregation of Revenue [Table Text Block]

	Year Ended December 31, 2022
	Connectivity		Power Solutions		Magnetic
	Solutions		and Protection		Solutions		Consolidated

*By Geographic Region:*
North America	$	141,585	$	217,381	$	50,234	$	409,200
Europe		35,596		42,121		10,903		88,620
Asia		9,904		28,864		117,645		156,413
	$	187,085	$	288,366	$	178,782	$	654,233

*By Sales Channel:*
Direct to customer	$	112,128	$	186,439	$	135,247	$	433,814
Through distribution		74,957		101,927		43,535		220,419
	$	187,085	$	288,366	$	178,782	$	654,233

	Year Ended December 31, 2021
	Connectivity		Power Solutions		Magnetic
	Solutions		and Protection		Solutions		Consolidated

*By Geographic Region:*
North America	$	126,303	$	152,799	$	38,335	$	317,437
Europe		30,241		38,068		8,252		76,561
Asia		8,483		27,168		113,845		149,496
	$	165,027	$	218,035	$	160,432	$	543,494

*By Sales Channel:*
Direct to customer	$	99,221	$	134,635	$	131,300	$	365,156
Through distribution		65,806		83,400		29,132		178,338
	$	165,027	$	218,035	$	160,432	$	543,494

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

	December 31,		December 31,
	2022		2021

Contract assets - current (unbilled receivables)	$	18,244	$	28,275
Contract liabilities - current (deferred revenue)	$	8,847	$	2,224

	Year Ended
	December 31, 2022
Balance, January 1	$	2,224
New advance payments received		10,624
Recognized as revenue during period		(3,944	)
Other adjustments		5
Currency translation		(62	)
Balance, December 31	$	8,847

Note 16 - Common Stock

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note Disclosure [Text Block]

16.

COMMON STOCK

As of December 31, 2022, according to regulatory filings, there was one shareholder of the Company's common stock (other than shareholders subject to specific exceptions) with ownership in excess of 10% of Class A outstanding shares with no ownership of the Company's Class B common stock. In accordance with the Company's certificate of incorporation, the Class B Protection clause is triggered if a shareholder owns 10% or more of the outstanding Class A common stock and does not own an equal or greater percentage of all then outstanding shares of both Class A and Class B common stock (all of which common stock must have been acquired after the date of the 1998 recapitalization). In such a circumstance, such shareholder must, within 90 days of the trigger date, purchase Class B common shares, in an amount and at a price determined in accordance with a formula described in the Company's certificate of incorporation, or forfeit its right to vote its Class A common shares. As of December 31, 2022, to the Company's knowledge, this shareholder had not purchased any Class B shares to comply with these requirements. In order to vote its shares at Bel's next shareholders' meeting, this shareholder must either purchase the required number of Class B common shares or sell or otherwise transfer Class A common shares until its Class A holdings are under 10%. As of December 31, 2022, to the Company's knowledge, this shareholder owned18.2% of the Company's Class A common stock in the aggregate and had not taken steps to either purchase the required number of Class B common shares or sell or otherwise transfer Class A common shares until its Class A holdings fall below 10%. Unless and until this situation is satisfied in a manner permitted by the Company's Restated Certificate of Incorporation, the subject shareholder will not be permitted to vote its shares of common stock.

Throughout 2022 and 2021, the Company declared cash dividends on a quarterly basis at a rate of $0.06 per Class A (voting) share of common stock and $0.07 per Class B (non-voting) share of common stock. The Company declared and paid cash dividends totaling $3.4 million in each of 2022 and 2021. There are no contractual restrictions on the Company's ability to pay dividends, provided that the Company is not in default under its credit agreement immediately before such payment and after giving effect to such payment.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands			12 Months Ended
	Mar. 31, 2021	Jan. 08, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2022
Payments to Acquire Businesses, Net of Cash Acquired, Total			$ (0)	$ 16,811
Goodwill, Ending Balance			25,099	26,651	$ 26,651		$ 26,651
EOS Power Panama Inc. [Member]
Revenues, Total						$ 12,000
rms Connectors, Inc. [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total		$ 9,000
Goodwill, Ending Balance		$ 0
EOS Power Panama Inc. [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 7,800
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	2,160			2,200	2,200
Goodwill, Ending Balance	$ 2,499
EOS Power Panama Inc. [Member] \| Customer Relationships [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles				$ 1,900	1,900
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				$ 300	300
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)				2 years
The 2021 Acquisitions [Member]
Business Combination, Acquisition Related Costs			0	$ 500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			2,160
Goodwill, Ending Balance			$ 2,499
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual					17,100
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual					$ 1,900

Note 12 - Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Foreign Exchange Forward [Member]
Derivative, Notional Amount	$ 25.7	$ 17.1
The 2021 Swaps One [Member]
Derivative, Notional Amount	$ 30.0
Derivative, Fixed Interest Rate	1.3055%	1.3055%
The 2021 Swaps Two [Member]
Derivative, Notional Amount	$ 30.0
Derivative, Fixed Interest Rate	1.318%	1.318%

Note 4 - Goodwill and Other Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023	$ 4,637
2024	4,557
2025	4,557
2026	4,432
2027	$ 4,432

Note 4 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Oct. 01, 2019
Goodwill, Impaired, Accumulated Impairment Loss				$ 137,500
Goodwill, Impairment Loss	$ 0
Amortization of Intangible Assets		$ 6,000	$ 7,100
Trademarks [Member]
Impairment of Intangible Assets, Finite-Lived		$ 0	$ 0
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		1 year
Minimum [Member] \| Intangible Assets Excluding Trademarks [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		1 year
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		16 years
Maximum [Member] \| Intangible Assets Excluding Trademarks [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		16 years

Note 12 - Derivative Instruments and Hedging Activities - Fair Value of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Total derivative assets	$ 5,898	$ 57
Total derivative liabilities	0	135
Foreign Exchange Forward [Member]
Total derivative assets	400
Interest Rate Swap [Member]
Total derivative assets	5,500	100
Other Current Assets [Member] \| Foreign Exchange Forward [Member]
Designated as cash flow hedges	359	57
Other Noncurrent Assets [Member] \| Interest Rate Swap [Member]
Designated as a cash flow hedge	5,539	0
Other Current Liabilities [Member] \| Foreign Exchange Forward [Member]
Not designated as hedging instruments	0	19
Other Noncurrent Liabilities [Member] \| Interest Rate Swap [Member]
Designated as a cash flow hedge	$ 0	$ 116

Note 15 - Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

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

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

Outstanding at January 1, 2022		461,850		$	16.94		3.2
Granted		322,500			36.87
Vested		(108,350	)		21.28
Forfeited		(39,500	)		16.66
Outstanding at December 31, 2022		636,500		$	26.31		4.4

Note 14 - Retirement Fund and Profit Sharing Plan (Tables)

12 Months Ended

Dec. 31, 2022