0001437749-24-007265 | 10-K | XBRL Viewer

Property, Plant and Equipment [Table Text Block]

	December 31,
	2023			2022
Land	$	348		$	1,098
Buildings and improvements		15,286			21,529
Machinery and equipment		98,527			118,358
Construction in progress		1,567			4,239
		115,728			145,224
Accumulated depreciation		(79,195	)		(108,391	)
Property, plant and equipment, net	$	36,533		$	36,833

Note 14 - Segments - Net Sales to External Customers by Geographic Area and by Major Product Line (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net sales	$ 639,813	$ 654,233
Power Solutions and Protection [Member]
Net sales	314,105	288,366
Connectivity Solutions [Member]
Net sales	210,572	187,085
Magnetic Solutions [Member]
Net sales	115,136	178,782
UNITED STATES
Net sales	447,793	409,199
CHINA
Net sales	43,109	77,061
MACAO
Net sales	35,026	61,744
UNITED KINGDOM
Net sales	25,648	21,903
SLOVAKIA
Net sales	35,555	22,120
GERMANY
Net sales	17,327	24,112
INDIA
Net sales	15,365	17,608
SWITZERLAND
Net sales	11,237	9,893
All Other Foreign Countries [Member]
Net sales	$ 8,753	$ 10,593

Note 10 - Income Taxes - Liability for Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Liability for uncertain tax positions	$ 24,798	$ 28,434
Additions based on tax positions related to the current year	973	1,284
Translation adjustment	(249)	(1,121)
Settlement/expiration of statutes of limitations	(5,699)	(3,799)
Liability for uncertain tax positions	$ 19,823	$ 24,798

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net earnings	$ 73,831	$ 52,689
Other comprehensive income:
Currency translation adjustment, net of taxes of ($93) and ($47)	6,684	(8,196)
Unrealized (losses) gains on interest rate swap cash flow hedge, net of taxes of $0 in both periods	(1,579)	5,655
Unrealized holding gains (losses) on marketable securities arising during the period, net of taxes of $0 in both periods	1	(11)
Change in unfunded SERP liability, net of taxes of ($161) and ($1,381)	(597)	4,869
Net current period other comprehensive income (loss)	4,509	2,317
Comprehensive income	$ 78,340	$ 55,006

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

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Note 5 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill Disclosure [Text Block]

5.	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, 2023 and 2022, the Company's reportable operating segments were as follows:

	•	Power Solutions and Protection: includes the 2012 acquisition of Powerbox Italia, the 2014 acquisition of ABB's Power Solutions business, the 2019 acquisition of the majority of CUI Inc.'s power products business, the 2021 acquisition of EOS, the 2023 equity method investment in innolectric, in addition to sales and an estimated allocation of expenses related to power products manufactured at Bel sites that are not product group specific.

	•	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.

	•	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, 2023 are as noted in the table below.


	Total		Power Solutions & Protection		Connectivity Solutions		Magnetic Solutions
Balance at January 1, 2023:
Goodwill, gross	$	25,099	$	18,152	$	6,947	$	-
Goodwill, net	$	25,099	$	18,152	$	6,947	$	-

Foreign currency translation		1,543		471		1,072		-

Balance at December 31, 2023:
Goodwill, gross	$	26,642	$	18,623	$	8,019	$	-
Goodwill, net	$	26,642	$	18,623	$	8,019	$	-

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 6, "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.

2023 Annual Impairment Test

On October 1, 2023, the Company completed a quantitative assessment of our annual goodwill impairment test for our four existing reporting units. We concluded that the fair value of the Company's Connectivity Europe, Power Europe, EOS and CUI reporting units exceeded the carrying value and that there was no indication of impairment. Effective October 1, 2023, in connection with a recent shift in how management views and manages the business in light of the consolidation or our ERP systems, recent facility consolidations and other streamlining initiatives at the product group level, the Company changed its reporting unit structure. The Company's new reporting units are Power Solutions and Protection (excluding CUI), CUI, Connectivity Solutions and Magnetic Solutions. The Company performed a qualitative analysis (Step 0) on the new reporting units as of the October 1, 2023 testing date and concluded no impairment existed for the new reporting units at that time.

The excess of estimated fair values over carrying value, including goodwill for each of our former reporting units that had goodwill as of the 2023 annual impairment test were as follows:

Reporting Unit		% by Which Estimated Fair Value Exceeds Carrying Value
Power Europe		89.1%
Connectivity Europe		79.9%
EOS		71.2%
CUI		169.4%

2022 Impairment Tests

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 no indicators of impairment were present as of the October 1, 2022 assessment date.

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.

As noted above, the fair value determined in connection with the goodwill impairment test completed in the fourth quarter of 2023 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 12 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, 2023, 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, 2023						December 31, 2022
	Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount

Patents, licenses and technology	$	19,176	$	11,386	$	7,790	$	38,607	$	30,156	$	8,451
Customer relationships		56,711		32,099		24,612		56,917		28,096		28,821
Non-compete agreements		-		-		-		2,662		2,662		-
Trademarks (indefinite-lived)		17,148		159		16,989		16,999		160		16,839
	$	93,035	$	43,644	$	49,391	$	115,185	$	61,074	$	54,111

Amortization expense was $4.7 million and $6.0 million during each of 2023 and 2022, respectively.

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

December 31,	Amortization Expense

2024	$	4,563
2025		4,551
2026		4,551
2027		4,551
2028		4,551

2023 and 2022 Impairment Tests

The Company completed its annual indefinite-lived intangible assets impairment test as of October 1, 2023 and October 1, 2022. Management has concluded that the fair value of these trademarks exceeded the related carrying values at both December 31, 2023 and December 31, 2022, with no indication of impairment at either date.

Note 14 - Segments - Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net sales	$ 639,813	$ 654,233
Gross Profit	$ 215,849	$ 183,453
Gross Profit %	33.70%	28.00%
Total Assets	$ 571,631	$ 560,466
Capital Expenditures	12,126	8,832
Depreciation and amortization	13,312	14,863
Power Solutions and Protection Segment [Member]
Net sales	314,105	288,366
Gross Profit	$ 119,741	$ 87,840
Gross Profit %	38.10%	30.50%
Total Assets	$ 222,068	$ 234,095
Capital Expenditures	4,563	3,916
Depreciation and amortization	5,280	6,470
Connectivity Solutions [Member]
Net sales	210,572	187,085
Gross Profit	$ 72,031	$ 48,488
Gross Profit %	34.20%	25.90%
Total Assets	$ 197,045	$ 170,895
Capital Expenditures	7,384	4,566
Depreciation and amortization	6,152	6,145
Magnetic Solutions Segment [Member]
Net sales	115,136	178,782
Gross Profit	$ 25,314	$ 49,290
Gross Profit %	22.00%	27.60%
Total Assets	$ 47,900	$ 107,891
Capital Expenditures	160	350
Depreciation and amortization	1,094	2,133
Corporate Segment [Member]
Net sales	0	0
Gross Profit	(1,237)	(2,165)
Total Assets	104,618	47,585
Capital Expenditures	19	0
Depreciation and amortization	$ 786	$ 115

Note 15 - Retirement Fund and Profit Sharing Plan - Benefit Payments Expected to be Paid (Details) - Supplemental Employee Retirement Plan [Member] $ in Thousands	Dec. 31, 2023 USD ($)
2024	$ 972
2025	1,015
2026	1,033
2027	1,150
2028	1,321
2029-2033	$ 7,218

Note 16 - Share-based Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Outstanding, shares (in shares)	636,500
Outstanding, weighted average award price (in dollars per share)	$ 26.31
Outstanding, weighted average remaining contractual term (Year)	3 years 8 months 12 days	4 years 4 months 24 days
Granted, shares (in shares)	10,000
Granted, weighted average award price (in dollars per share)	$ 49.19
Vested, shares (in shares)	(119,250)
Vested, weighted average award price (in dollars per share)	$ 17.96
Forfeited, shares (in shares)	(30,500)
Forfeited, weighted average award price (in dollars per share)	$ 21.3
Outstanding, shares (in shares)	496,750	636,500
Outstanding, weighted average award price (in dollars per share)	$ 29.09	$ 26.31

Note 13 - Derivative Instruments and Hedging Activities - (Losses) Gains Recognized on Derivatives Instruments Not Designated as Hedging (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivative instruments gain (loss)	$ 150	$ 58
Foreign Exchange Forward [Member] \| Nonoperating Income (Expense) [Member]
Derivative instruments gain (loss)	$ 150	$ 58

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

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

Use of Estimates, Policy [Policy Text Block]

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 and Cash Equivalents, Policy [Policy Text Block]

Cash, Cash Equivalents and Investments - 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. Substantially all of our U.S. cash and cash equivalents balances are in excess of the FDIC insured limit. The Company periodically invests its excess cash in money market funds and U.S. Treasury Bills. The Company's cash and cash equivalents are placed with high credit quality financial institutions.

The Company has held to maturity securities comprised of U.S. Treasury Bills. These investments are classified as held to maturity as the Company has the intent and ability to hold these investments until they mature. The held to maturity securities mature within the next 12 months. The table below shows the amortized costs, associated gross unrealized gains and associated fair value of the held to maturity securities at December 31, 2023:

		Amortized Cost				Gross Unrealized Gain				Fair Value
Held to maturity U.S. Treasury securities		$	37,548			$	103			$	37,651

In determining the fair value of the Company's held to maturity U.S. Treasury securities, the Company utilized Level 1 inputs of the market price for comparable securities as of December 31 2023.

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

Allowance for Credit Losses - The Company currently measures the expected credit losses based on our historical credit loss experience. The Company has not experienced significant recent or historical credit losses and is not forecasting any significant credit losses which would require adjustments to our methodology. If current conditions and supportable forecasts indicate that our historical loss experience is not reasonable and no longer supportable, the Company may adjust its historical credit loss experience and to reflect these conditions and forecasts. The Company regularly analyzes its significant customer accounts and, when the Company becomes aware of a customer’s inability to meet its financial obligations, the Company records a specific reserve for bad debt to reduce the related receivable to the amount the Company reasonably believes is collectible. There were no significant impairment losses related to our receivables in 2023 or 2022.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

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 loss of $1.4 million for the year ended December 31, 2023 and a gain of $0.3 million for the year ended December 31, 2022, which were included in other expense, net on the consolidated statements of operations.

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

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, subcontractors of original equipment manufacturers and distributors 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 14, "Segments," for disclosures regarding significant customers.

Inventory, Policy [Policy Text Block]

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 upon sale.

Revenue from Contract with Customer [Policy Text Block]

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.

Standard Product Warranty, Policy [Policy Text Block]

Product Warranties – Warranties vary by product line and are competitive for the markets in which the Company operates. Warranties generally extend for one 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 12, "Accrued Expenses."

Product Returns [Policy Text Block]

Product Returns – We estimate product returns, including product exchanges under warranty, based on historical experience. In general, the Company is not contractually obligated to accept returns except for defective product or in instances where the product does not meet the Company's product specifications. However, the Company may 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 Intangible Assets, Intangible Assets, Indefinite-Lived, Policy [Policy Text Block]

Goodwill and Identifiable Intangible Assets – Goodwill represents the excess of the aggregate of the following: (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 8.6% and 9.7% at December 31, 2023 and 2022, 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 or Disposal of Long-Lived Assets, Policy [Policy Text Block]

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. At December 31, 2023, a total of $1.3 million of property was classified as assets held for sale (within other current assets) on the accompanying consolidated balance sheet related to properties in the PRC that have been exited in connection with our recent restructuring initiatives related to facility consolidation efforts in China. These assets have been evaluated for impairment and it was determined that no impairment existed as of December 31, 2023.

For indefinite-lived intangible assets, such as goodwill, 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 5, "Goodwill and Other Intangible Assets," for additional details.

Depreciation, Depletion, and Amortization [Policy Text Block]

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.

Derivatives, Policy [Policy Text Block]

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 13, "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 Tax, Policy [Policy Text Block]

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 10, “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. The Company's policy for releasing disproportionate income tax effects from accumulated other comprehensive loss ("AOCL") is to utilize the item-by-item approach.

Earnings Per Share, Policy [Policy Text Block]

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 Restated Certificate of Incorporation, as amended, states that the Company's Class B common shares, par value $0.10 per share (the "Class B common stock," "Class B common shares" or "Class B shares"), are entitled to dividends at least 5% greater than dividends paid to Class A common shares, par value $0.10 per share (the "Class A common stock," "Class A common shares" or "Class A shares," and collectively with the Class B common stock, the "common stock" or the "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, 2023 and 2022 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:

	Years Ended December 31,
	2023		2022
Numerator:
Net earnings	$	73,831	$	52,689
Less dividends declared:
Class A		512		514
Class B		2,997		2,922
Undistributed earnings	$	70,322	$	49,253

Undistributed earnings allocation:
Class A undistributed earnings	$	11,318	$	8,084
Class B undistributed earnings		59,004		41,169
Total undistributed earnings	$	70,322	$	49,253

Net earnings allocation:
Class A net earnings	$	11,830	$	8,598
Class B net earnings		62,001		44,091
Net earnings	$	73,831	$	52,689

Denominator:
Weighted average shares outstanding:
Class A		2,142		2,143
Class B		10,634		10,394

Net earnings per share:
Class A	$	5.52	$	4.01
Class B	$	5.83	$	4.24

Research and Development Expense, Policy [Policy Text Block]

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, 2023 and 2022 amounted to $22.5 million and $20.2 million, respectively.

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

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

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards

Recently Adopted Accounting Standards

In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 provides temporary optional guidance on contract modifications and hedging accounting to ease the financial reporting burdens of the 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 extended 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 adopted ASU 2020-04 in the first quarter of 2023 and elected to apply the relevant practical expedients within the guidance. The adoption of this guidance did not have a material impact on the Company's consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, 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. On January 1, 2023, the Company adopted ASU 2016-13. The adoption of this standard did not have a material impact on the Company's consolidated financial statements.

Accounting Standards Issued But Not Yet Adopted

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, it requires a public entity to disclose the title and position of the Chief Operating Decision Maker (CODM). The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. A public entity should apply the amendments in this ASU retrospectively to all prior periods presented in the financial statements. We expect this ASU to only impact our disclosures with no impacts to our results of operations, cash flows and financial condition.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. ASU 2023-09 requires a public business entity (PBE) to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. For PBEs, the new standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. An entity may apply the amendments in this ASU prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU disclosures for the prior periods, or may apply the amendments retrospectively by providing the revised disclosures for all period presented. We expect this ASU to only impact our disclosures with no impacts to our results of operations, cash flows, and financial condition.

Note 15 - Retirement, Savings and Deferred Compensation Plans - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prior service cost	$ 212	$ 334
Net loss	(1,336)	(2,216)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax	$ (1,124)	$ (1,882)

Note 5 - Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
Goodwill, gross	$ 26,642	$ 25,099
Goodwill, net	26,642	25,099	$ 25,099
Foreign currency translation	1,543
Power Solutions and Protection Segment [Member]
Goodwill, gross	18,623	18,152
Goodwill, net	18,623	18,152
Foreign currency translation	471
Connectivity Solutions [Member]
Goodwill, gross	8,019	6,947
Goodwill, net	8,019	6,947
Foreign currency translation	1,072
Magnetic Solutions Segment [Member]
Goodwill, gross	0	0
Goodwill, net	0	$ 0
Foreign currency translation	$ 0

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

Note 15 - Retirement Fund and Profit Sharing Plan (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Net Benefit Costs [Table Text Block]

	Years Ended December 31,
	2023		2022

Service Cost	$	369	$	503
Interest Cost		886		636
Net amortization		71		312
Net periodic benefit cost	$	1,326	$	1,451

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

	Years Ended December 31,
	2023			2022
Fair value of plan assets, January 1	$	-		$	-
Company contributions		775			606
Benefits paid		(775	)		(606	)
Fair value of plan assets, December 31	$	-		$	-
Benefit obligation, January 1	$	18,175		$	23,580
Service cost		370			503
Interest cost		886			636
Benefits paid		(775	)		(606	)
Actuarial loss (gain)		828			(5,938	)
Benefit obligation, December 31	$	19,484		$	18,175
Underfunded status, December 31	$	(19,484	)	$	(18,175	)

Schedule of Expected Benefit Payments [Table Text Block]

Years Ending
December 31,

2024	$	972
2025		1,015
2026		1,033
2027		1,150
2028		1,321
2029 - 2033		7,218

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

	December 31,
	2023			2022
Prior service cost	$	212		$	334
Net loss		(1,336	)		(2,216	)
	$	(1,124	)	$	(1,882	)

Defined Benefit Plan, Assumptions [Table Text Block]

	Years Ended December 31,
	2023			2022
Net periodic benefit cost:
Discount rate		5.00	%		2.75	%
Rate of compensation increase		2.50	%		2.50	%
Benefit obligation:
Discount rate		4.75	%		5.00	%
Rate of compensation increase		2.50	%		2.50	%

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, 2023	Dec. 31, 2022
Net earnings	$ 73,831	$ 52,689
Undistributed earnings	70,322	49,253
Common Class A [Member]
Net earnings	11,830	8,598
Less dividends declared	512	514
Undistributed earnings	$ 11,318	$ 8,084
Weighted-average shares outstanding, basic and diluted (in shares)	2,142	2,143
Net earnings per share, basic and diluted (in dollars per share)	$ 5.52	$ 4.01
Common Class B [Member]
Net earnings	$ 62,001	$ 44,091
Less dividends declared	2,997	2,922
Undistributed earnings	$ 59,004	$ 41,169
Weighted-average shares outstanding, basic and diluted (in shares)	10,634	10,394
Net earnings per share, basic and diluted (in dollars per share)	$ 5.83	$ 4.24

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
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

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

Note 15 - Retirement, Savings and Deferred Compensation Plans - Components of SERP Expense (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Service Cost	$ 369	$ 503
Interest Cost	886	636
Net amortization	71	312
Net periodic benefit cost	$ 1,326	$ 1,451

Note 20 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Foreign currency translation adjustment, tax	$ (276)	$ (369)
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	$ 718	$ 879

Note 4 - Revenue - Disaggregation of Revenue by Product Group and Sales Channel (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net sales	$ 639,813	$ 654,233
Sales Channel, Directly to Consumer [Member]
Net sales	439,329	433,814
Sales Channel, Through Intermediary [Member]
Net sales	200,484	220,419
Power Solutions and Protection [Member]
Net sales	314,105	288,366
Power Solutions and Protection [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	221,828	186,439
Power Solutions and Protection [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	92,277	101,927
Connectivity Solutions [Member]
Net sales	210,572	187,085
Connectivity Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	130,893	112,128
Connectivity Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	79,679	74,957
Magnetic Solutions [Member]
Net sales	115,136	178,782
Magnetic Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	86,608	135,247
Magnetic Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	28,528	43,535
North America [Member]
Net sales	447,793	409,200
North America [Member] \| Power Solutions and Protection [Member]
Net sales	233,016	217,381
North America [Member] \| Connectivity Solutions [Member]
Net sales	172,518	141,585
North America [Member] \| Magnetic Solutions [Member]
Net sales	42,259	50,234
Europe [Member]
Net sales	98,519	88,620
Europe [Member] \| Power Solutions and Protection [Member]
Net sales	57,567	42,121
Europe [Member] \| Connectivity Solutions [Member]
Net sales	32,689	35,596
Europe [Member] \| Magnetic Solutions [Member]
Net sales	8,263	10,903
Asia [Member]
Net sales	93,501	156,413
Asia [Member] \| Power Solutions and Protection [Member]
Net sales	23,522	28,864
Asia [Member] \| Connectivity Solutions [Member]
Net sales	5,365	9,904
Asia [Member] \| Magnetic Solutions [Member]
Net sales	$ 64,614	$ 117,645

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
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

Note 15 - 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, 2023	Dec. 31, 2022
Discount rate, net periodic benefit cost	5.00%	2.75%
Rate of compensation increase, net periodic benefit cost	2.50%	2.50%
Discount rate, benefit obligation	4.75%	5.00%
Rate of compensation increase, benefit obligation	2.50%	2.50%

Note 10 - Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Federal, current	$ 11,403	$ 9,175
State, current	975	787
Foreign, current	963	1,002
Current	13,341	10,964
Federal, deferred	(3,128)	(4,064)
State, deferred	(139)	(255)
Foreign, deferred	(605)	(275)
Deferred	(3,872)	(4,594)
Income Tax Expense (Benefit)	$ 9,469	$ 6,370

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

Note 18 - Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating lease right-of-use assets	$ 20,481	$ 21,551
Operating lease liability, current	6,350	5,870
Operating lease liability, long-term	14,212	15,742
Total operating lease liabilities	20,562	21,612
Property, plant and equipment, gross	115,728	145,224
Accumulated depreciation	(79,195)	(108,391)
Property, plant and equipment, net	36,533	36,833
Total finance lease liabilities	1,912
Other Liabilities [Member]
Total operating lease liabilities	20,562
Other current liabilities	485	446
Other long-term liabilities	1,539	1,608
Total finance lease liabilities	2,024	2,054
Assets under Finance Lease [Member]
Property, plant and equipment, gross	3,484	3,096
Accumulated depreciation	(1,613)	(1,089)
Property, plant and equipment, net	$ 1,871	$ 2,007

Note 17 - Common Stock (Details Textual) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Dividends, Common Stock	$ 3.5	$ 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	16.70%
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

Note 6 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]

	December 31, 2023
	Carrying value		Fair value		Cash and cash equivalents		Other Current Assets
Cash	$	57,544	$	57,544	$	57,544	$	-
Level 1:
Money market funds		31,188		31,188		31,188		-
Money market funds (Rabbi Trust)		303		303		-		303
Subtotal		31,491		31,491		31,188		303
Level 2:
Certificates of deposit and time deposits		3,629		3,926		639		2,990
Subtotal		3,629		3,926		639		2,990
Total	$	92,664	$	92,961	$	89,371	$	3,293

	December 31, 2022
	Carrying value		Fair value		Cash and cash equivalents		Other Current Assets
Cash	$	70,266	$	70,266	$	70,266	$	-
Level 1:
Money market funds (Rabbi Trust)		101		101		-		101
Subtotal		101		101		-		101
Total	$	70,367	$	70,367	$	70,266	$	101

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

	Balance Sheet Classification	December 31, 2023		December 31, 2022
Derivative assets:
Foreign currency forward contracts:
Designated as cash flow hedges	Other current assets	$	-	$	359
Not designated as hedging instruments	Other current assets		486		-
Interest rate swap agreements:
Designated as a cash flow hedge	Other assets		3,960		5,539
Total derivative assets		$	4,446	$	5,898

Derivative liabilities:
Foreign currency forward contracts:
Designated as cash flow hedges	Other current liabilities	$	5	$	-
Total derivative liabilities		$	5	$	-

Note 5 - Goodwill and Other Intangible Assets - Components of Definite and Indefinite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Gross carrying amount	$ 93,035	$ 115,185
Accumulated amortization	43,644	61,074
Net carrying amount	49,391	54,111
Trademarks [Member]
Trademarks (indefinite-lived)	17,148	16,999
Trademarks (indefinite-lived)	159	160
Trademarks (indefinite-lived)	16,989	16,839
Patents, Licenses and Technology [Member]
Gross carrying amount	19,176	38,607
Accumulated amortization	11,386	30,156
Net carrying amount	7,790	8,451
Customer Relationships [Member]
Gross carrying amount	56,711	56,917
Accumulated amortization	32,099	28,096
Net carrying amount	24,612	28,821
Noncompete Agreements [Member]
Gross carrying amount	0	2,662
Accumulated amortization	0	2,662
Net carrying amount	$ 0	$ 0

Note 5 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Oct. 01, 2019
Goodwill, Impaired, Accumulated Impairment Loss				$ 137,500
Goodwill, Impairment Loss	$ 0
Amortization of Intangible Assets		$ 4,700	$ 6,000
Trademarks [Member]
Impairment of Intangible Assets, Finite-Lived		$ 0	$ 0
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	1 year	1 year
Minimum [Member] \| Intangible Assets Excluding Trademarks [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	1 year	1 year
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	16 years	16 years
Maximum [Member] \| Intangible Assets Excluding Trademarks [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	12 years	12 years

Note 3 - Divestiture of Subsidiary - Assets and Liabilities Included in Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 01, 2023
Gain on sale recognized	$ 980	$ 0
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] \| Bel Stewart s.r.o. [Member]
Cash and cash equivalents	2,072
Accounts receivable	1,030
Inventories	1,310
Property, plant and equipment	326
Other assets	48
Accounts payable	441
Accrued expenses	126
Income taxes payable	100
Other current liabilities	13
Other long-term liabilities	23
Total net assets transferred	4,083
Consideration received	5,063		$ 5,100
Gain on sale recognized	$ 980

Note 6 - Fair Value Measurements

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Text Block]

6.	FAIR VALUE MEASUREMENTS

The following tables show the Company's cash, cash equivalents and other marketable and held to maturity securities by significant investment category as of December 31, 2023 and 2022:

	December 31, 2023
	Carrying value		Fair value		Cash and cash equivalents		Other Current Assets
Cash	$	57,544	$	57,544	$	57,544	$	-
Level 1:
Money market funds		31,188		31,188		31,188		-
Money market funds (Rabbi Trust)		303		303		-		303
Subtotal		31,491		31,491		31,188		303
Level 2:
Certificates of deposit and time deposits		3,629		3,926		639		2,990
Subtotal		3,629		3,926		639		2,990
Total	$	92,664	$	92,961	$	89,371	$	3,293

	December 31, 2022
	Carrying value		Fair value		Cash and cash equivalents		Other Current Assets
Cash	$	70,266	$	70,266	$	70,266	$	-
Level 1:
Money market funds (Rabbi Trust)		101		101		-		101
Subtotal		101		101		-		101
Total	$	70,367	$	70,367	$	70,266	$	101

As of December 31, 2023 and 2022, 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 $0.3 million at December 31, 2023 and $0.1 million at December 31, 2022.

Throughout 2023 and 2022, the Company entered into a series of foreign currency forward contracts, the fair value of which was $0.5 million at December 31, 2023 and $0.4 million at December 31, 2022. 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).

The Company is a party to two interest rate swap agreements as further described in Note 13, "Derivative Instruments and Hedging Activities". The fair value of the interest rate swap agreements was $4.0 million and $5.5 million at December 31, 2023 and 2022, 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 fair values of our derivative financial instruments (which are measured using Level 2 fair value inputs) and their classifications in our consolidated balance sheets as of December 31, 2023 were as follows:

	Balance Sheet Classification	December 31, 2023		December 31, 2022
Derivative assets:
Foreign currency forward contracts:
Designated as cash flow hedges	Other current assets	$	-	$	359
Not designated as hedging instruments	Other current assets		486		-
Interest rate swap agreements:
Designated as a cash flow hedge	Other assets		3,960		5,539
Total derivative assets		$	4,446	$	5,898

Derivative liabilities:
Foreign currency forward contracts:
Designated as cash flow hedges	Other current liabilities	$	5	$	-
Total derivative liabilities		$	5	$	-

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 2023 or 2022. There were no changes to the Company’s valuation techniques used to measure asset fair values on a recurring or nonrecurring basis during 2023.

There were no financial assets accounted for at fair value on a nonrecurring basis as of December 31, 2023 or December 31, 2022.

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, 2023 and 2022, the estimated fair value of total debt was $60 million and $95.0 million, respectively, compared to a carrying amount of $60 million and $95.0 million, respectively. The Company did not have any other financial liabilities within the scope of the fair value disclosure requirements as of December 31, 2023.

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 5, "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 14 - Segments (Tables)

12 Months Ended

Dec. 31, 2023

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

	Year Ended December 31, 2023
	Power Solutions and Protection			Connectivity Solutions			Magnetic Solutions			Corporate/ Other				Total
	Power Solutions and Protection			Connectivity Solutions			Magnetic Solutions			Corporate/ Other				Total
Net sales	$	314,105		$	210,572		$	115,136		$	-		$	639,813
Gross Profit		119,741			72,031			25,314			(1,237	)		215,849
Gross Profit %		38.1	%		34.2	%		22.0	%		nm			33.7	%
Total Assets		222,068			197,045			47,900			104,618			571,631
Capital Expenditures		4,563			7,384			160			19			12,126
Depreciation and Amortization Expense		5,280			6,152			1,094			786			13,312

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

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

	Years Ended December 31,
	2023		2022
*Net Sales by Geographic Location:*

United States	$	447,793	$	409,199
People's Republic of China		43,109		77,061
Macao		35,026		61,744
United Kingdom		25,648		21,903
Slovakia		35,555		22,120
Germany		17,327		24,112
India		15,365		17,608
Switzerland		11,237		9,893
All other foreign countries		8,753		10,593
Consolidated net sales	$	639,813	$	654,233

*Net Sales by Major Product Line:*

Power solutions and protection	$	314,105	$	288,366
Connectivity solutions		210,572		187,085
Magnetic solutions		115,136		178,782
Consolidated net sales	$	639,813	$	654,233

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

	December 31,
	2023		2022
*Long-lived Assets by Geographic Location:*

United States	$	34,990	$	33,875
People's Republic of China (PRC)		23,621		28,222
Slovakia		7,468		6,738
United Kingdom		3,024		1,109
All other foreign countries		549		1,072
Consolidated long-lived assets	$	69,652	$	71,016

Note 13 - Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Text Block]

13.

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 $25.8 million and $25.7 million as of December 31, 2023 and 2022, 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 its credit agreement, the Company is a party to a pay-fixed, receive-variable interest rate swap agreement with each of two multinational financial institutions under which we, for periods prior to January 31, 2023, (i) paid interest at a fixed rate of 1.3055% and received variable interest of one-month LIBOR on a notional amount of $30.0 million and (ii) paid interest at a fixed rate of 1.3180% and received 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 will 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. Effective January 31, 2023, the 2021 Swaps require the Company to pay interest on the notional amount at the rate of 1.334% and 1.348%, respectively, in exchange for the daily SOFR rate plus 10 basis points.

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

See Note 6, "Fair Value Measurements" for the gross fair values of the Company's derivative assets and liabilities as of December 31, 2023 and 2022.

Derivative Financial Instruments in Cash Flow Hedging Relationships

The effects of derivative financial instruments designated as cash flow hedges on AOCL and on the consolidated statements of operations for the years ended December 31, 2023 and 2022 were as follows:

	Years Ended December 31,
	2023			2022
Net (losses) gains recognized in AOCL:
Foreign currency forward contracts	$	(1,470	)	$	(119	)
Interest rate swap agreements		689			5,886
	$	(781	)	$	5,767

Net (losses) gains reclassified from AOCL to the consolidated statement of operations:
Foreign currency forward contracts	$	(537	)	$	(805	)
Interest rate swap agreements		2,268			230
	$	1,731		$	(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, 2023 and 2022.

Derivative Financial Instruments Not Designated as Hedging Instruments

Gains recognized on derivative financial instruments not designated as hedging instruments in our consolidated statements of operations for the years ended December 31, 2023 and 2022 were as follows:

		Years Ended December 31,
	Classification in Consolidated Statements of Operations	2023		2022
Foreign currency forward contracts	Other expense, net		150		58
		$	150	$	58

Consolidated Statements of Stockholders' Equity (Parentheticals) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares
Common Class A [Member]
Dividends declared (in dollars per share) \| $ / shares	$ 0.24
Common Class B [Member]
Dividends declared (in dollars per share) \| $ / shares	$ 0.28
Foreign currency translation adjustment, tax expense	$ (93)
Unrealized losses on interest rate swap cash flow hedge, tax	0
Unrealized holding losses on marketable securities arising during the period, tax	0
Change in unfunded SERP liability, tax	(161)
Foreign currency translation adjustment, liquidation of subsidiary	$ 2,724

Note 2 - Investment in Innolectric (Details Textual) $ in Thousands, € in Millions			12 Months Ended
	Feb. 01, 2023 USD ($)	Feb. 01, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures			$ 10,282		$ 0
Innolectric AG [Member]
Loans and Leases Receivable, Related Parties			$ 2,100	€ 2
Loans and Leases Receivable, Interest Rate			5.00%	5.00%
Innolectric AG [Member] \| Power Solutions and Protection Segment [Member]
Net Income (Loss) Attributable to Noncontrolling Interest			$ 800
Innolectric AG [Member]
Subsidiary, Ownership Percentage, Noncontrolling Owner	33.33%
Payments to Acquire Interest in Subsidiaries and Affiliates	$ 8,800	€ 8
Business Acquisition, Transaction Costs	1,300
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	11,000
Business Combination, Consideration Transferred, Liabilities Incurred	$ 1,000

Note 3 - Divestiture of Subsidiary (Tables)

12 Months Ended

Dec. 31, 2023

Disposal Groups, Including Discontinued Operations [Table Text Block]

	Total
Cash and cash equivalents	$	2,072
Accounts receivable		1,030
Inventories		1,310
Property, plant and equipment		326
Other assets		48
Accounts payable		(441	)
Accrued expenses		(126	)
Income taxes payable		(100	)
Other current liabilities		(13	)
Other long-term liabilities		(23	)
Total net assets transferred		4,083
Consideration received		5,063
Gain on sale recognized	$	980

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Note 10 - Income Taxes - Reconciliation of Taxes on Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Tax provision computed at the federal statutory rate, amount	$ 17,493	$ 12,402
Tax provision computed at the federal statutory rate, percent	21.00%	21.00%
Different tax rates applicable to foreign operations, amount	$ (1,697)	$ (1,677)
Different tax rates applicable to foreign operations, percent	(2.00%)	(3.00%)
Reversal of liability for uncertain tax positions - net, amount	$ (4,726)	$ (2,515)
Reversal of liability for uncertain tax positions - net, percent	(6.00%)	(4.00%)
Research and experimentation and foreign tax credits, amount	$ (75)	$ (139)
Research and experimentation and foreign tax credits, percent	(0.00%)	(0.00%)
State taxes, net of federal benefit, amount	$ (433)	$ 292
State taxes, net of federal benefit, percent	(1.00%)	0.00%
SERP/COLI and restricted stock income, amount	$ (756)	$ 733
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	$ (337)	$ (2,726)
Other, net, percent	(0.00%)	(5.00%)
Income Tax Expense (Benefit)	$ 9,469	$ 6,370
Tax provision (benefit) computed at the Company's effective tax rate, percent	11.00%	11.00%

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net earnings	$ 73,831	$ 52,689
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	13,312	14,863
Stock-based compensation	3,486	2,382
Amortization of deferred financing costs	33	34
Deferred income taxes	(3,872)	(4,594)
Unrealized losses (gains) on foreign currency revaluation	1,356	(278)
Gains on sale/disposal of property, plant and equipment	(2,117)	(1,596)
Gain on sale of Czech Republic business	(980)	0
Other, net	(1,037)	1,195
Changes in operating assets and liabilities:
Accounts receivable	22,500	(20,702)
Unbilled receivables	5,451	10,031
Inventories	33,613	(36,592)
Other current assets	(217)	(1,210)
Other assets	2,971	7,000
Accounts payable	(22,745)	1,522
Accrued expenses	5,356	10,933
Accrued restructuring costs	(1,228)	6,784
Other liabilities	(16,388)	(4,162)
Income taxes payable	(4,976)	1,958
Net cash provided by operating activities	108,349	40,257
Cash flows from investing activities:
Purchase of property, plant and equipment	(12,126)	(8,832)
Purchases of held to maturity and marketable securities	(59,992)	0
Proceeds from held to maturity securities	19,918	0
Payment for equity method investment	(10,282)	0
Investment in related party notes receivable	(2,152)	0
Proceeds from disposal/sale of property, plant and equipment	6,036	1,833
Proceeds from sale of business	5,063	0
Net cash used in investing activities	(53,535)	(6,999)
Cash flows from financing activities:
Dividends paid to common shareholders	(3,492)	(3,413)
Purchase of treasury stock	(105)	(349)
Borrowings under revolving credit line	5,000	0
Repayments under revolving credit line	(40,000)	(17,500)
Net cash used in financing activities	(38,597)	(21,262)
Effect of exchange rate changes on cash	2,888	(3,486)
Net increase in cash and cash equivalents	19,105	8,510
Cash and cash equivalents - beginning of year	70,266	61,756
Cash and cash equivalents - end of year	89,371	70,266
Supplemental cash flow information:
Income taxes, net of refunds received	25,056	14,618
Interest payments	4,729	3,371
ROU assets obtained in exchange for lease obligations	$ 5,999	$ 8,052

Note 18 - Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Amortization of ROU assets - finance leases	$ 491	$ 448
Interest on lease liabilities - finance leases	121	137
Operating lease cost (cost resulting from lease payments)	8,127	8,426
Short-term lease cost	207	201
Variable lease cost (cost excluded from lease payments)	397	410
Total lease cost	$ 9,343	$ 9,622
Operating leases (in years) (Year)	4 years 3 months 18 days	5 years 1 month 6 days
Finance leases (in years) (Year)	4 years 3 months 18 days	4 years 10 months 24 days
Operating leases	6.00%	6.00%
Finance leases	6.00%	6.10%

Note 2 - Investment in Innolectric

12 Months Ended

Dec. 31, 2023

Investment [Text Block]

2.	INVESTMENT IN INNOLECTRIC

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 as of the February 2023 closing). Transaction costs associated with the Company's investment in innolectric amounted to $1.3 million and these costs have been recorded as part of the carrying value of the investment. Under the terms of the investment agreement, if innolectric achieves certain EBITDA thresholds within a specified timeframe, the Company would be committed to acquiring the remaining shares of innolectric at that time. The accompanying consolidated balance sheet reflects the fair value as of the February 2023 closing of the initial one-third equity method investment, inclusive of transaction costs, of $11.0 million, and a separate liability of $1.0 million associated with the net fair value of the put and call options related to the remaining shares pursuant to the agreement in the event certain profitability thresholds are met.

This passive investment creates a strategic alliance that is focused on Electric Vehicles (“EV”) on-board power electronics, and in particular next generation fast-charging technology. With no product overlap, this relationship expands the Bel eMobility Power portfolio, further enhancing Bel's competitive position in this emerging field. Our investment in innolectric is accounted for using the equity method and we have determined that the innolectric investment is not a variable interest entity (VIE). Results from this investment have been included in Bel's Power Solution and Protection segment and amounted to a loss of $0.8 million during the year ended December 31, 2023. The Company adopted a policy to record its share of innolectric's results on a one-month lag on a consistent basis to allow time for innolectric to provide its financial statements to Bel.

Related Party Transactions

From time to time, the Company provides cash loans to innolectric to fund working capital needs and further business development. During 2023, the Company provided loans to innolectric in the aggregate amount of €2.0 million (approximately $2.1 million at the December 31, 2023 exchange rate). These loans bear interest at a rate of 5% per annum. This balance is shown as a related-party note receivable on the accompanying consolidated balance sheet at December 31, 2023.

Note 21 - Subsequent Events (Details Textual) - Subsequent Event [Member] - USD ($) $ in Millions	Feb. 29, 2024	Jan. 31, 2024
Stock Repurchase Program, Authorized Amount	$ 25.0
Glen Rock, Pennsylvania Property [Member]
Real Estate, Held-for-Sale		$ 0.8
Common Class A [Member]
Stock Repurchase Program, Authorized Amount	4.0
Common Class B [Member]
Stock Repurchase Program, Authorized Amount	$ 21.0

Note 19 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	12 Months Ended			252 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 1994
Purchase Commitment, Remaining Minimum Amount Committed	$ 57.7	$ 113.4
Arezzo Revenue Agency [Member]
Loss Contingency, Estimate of Possible Loss		12.0
EOS Claim From Principal Commissioner of Customs [Member] \| EOS Power Panama Inc. [Member]
Customs Duties and Imposed Fines			$ 0.9		$ 1.4
Payment for Customs Duties and Imposed Fines and Penalties				$ 0.5
Indemnification Period (Year)			7 years
Capital Addition Purchase Commitments [Member]
Long-Term Purchase Commitment, Amount	$ 5.8	$ 7.8

Note 17 - Common Stock

12 Months Ended

Dec. 31, 2023

Equity [Text Block]

17.

COMMON STOCK

As of December 31, 2023, 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 Restated Certificate of Incorporation, as amended, 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 Restated Certificate of Incorporation, as amended, or forfeit its right to vote its Class A common shares. As of December 31, 2023, 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, 2023, to the Company's knowledge, this shareholder owned 16.7% 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, as amended, the subject shareholder will not be permitted to vote its shares of common stock.

Throughout 2023 and 2022, 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 $3.5 million in 2023 and $3.4 million in 2022. 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 equity.

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

12 Months Ended

Dec. 31, 2023

Debt Securities, Held-to-Maturity [Table Text Block]

		Amortized Cost				Gross Unrealized Gain				Fair Value
Held to maturity U.S. Treasury securities		$	37,548			$	103			$	37,651

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

	Years Ended December 31,
	2023		2022
Numerator:
Net earnings	$	73,831	$	52,689
Less dividends declared:
Class A		512		514
Class B		2,997		2,922
Undistributed earnings	$	70,322	$	49,253

Undistributed earnings allocation:
Class A undistributed earnings	$	11,318	$	8,084
Class B undistributed earnings		59,004		41,169
Total undistributed earnings	$	70,322	$	49,253

Net earnings allocation:
Class A net earnings	$	11,830	$	8,598
Class B net earnings		62,001		44,091
Net earnings	$	73,831	$	52,689

Denominator:
Weighted average shares outstanding:
Class A		2,142		2,143
Class B		10,634		10,394

Net earnings per share:
Class A	$	5.52	$	4.01
Class B	$	5.83	$	4.24

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

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Note 20 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Foreign currency translation adjustment, net of taxes of ($276) at December 31, 2023 and ($369) at December 31, 2022	$ (16,423)	$ (23,107)
Unrealized holding gains on interest rate swap cash flow hedge, net of taxes of $0 at December 31, 2023 and $0 at December 31, 2022	3,960	5,539
Unrealized holding gains on marketable securities, net of taxes of ($7) at December 31, 2023 and ($7) at December 31, 2022	19	18
Unfunded SERP liability, net of taxes of $718 at December 31, 2023 and $879 at December 31, 2022	407	1,004
Accumulated other comprehensive loss	$ (12,037)	$ (16,546)

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

Note 12 - Accrued Expenses (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring Charges	$ 10,114
Restructuring Reserve	$ 5,498	$ 6,796

Note 16 - Share-based Compensation (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock [Member]
Share-Based Payment Arrangement, Expense	$ 3.5	$ 2.4
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, ForfeitureRate	5.00%
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	$ 9.8
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)	10,000	322,500
The 2020 Equity Compensation Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	517,000
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

Note 13 - Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments, Gain (Loss) [Table Text Block]

	Years Ended December 31,
	2023			2022
Net (losses) gains recognized in AOCL:
Foreign currency forward contracts	$	(1,470	)	$	(119	)
Interest rate swap agreements		689			5,886
	$	(781	)	$	5,767

Net (losses) gains reclassified from AOCL to the consolidated statement of operations:
Foreign currency forward contracts	$	(537	)	$	(805	)
Interest rate swap agreements		2,268			230
	$	1,731		$	(575	)

Derivatives Not Designated as Hedging Instruments [Table Text Block]

		Years Ended December 31,
	Classification in Consolidated Statements of Operations	2023		2022
Foreign currency forward contracts	Other expense, net		150		58
		$	150	$	58

Note 8 - Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Text Block]

8.	INVENTORIES

The components of inventories are as follows:

	December 31,
	2023		2022
Raw materials	$	63,647	$	74,572
Work in progress		42,038		44,397
Finished goods		30,855		53,496
Inventories	$	136,540	$	172,465

Note 14 - Segments - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Long-lived assets	$ 69,652	$ 71,016
UNITED STATES
Long-lived assets	34,990	33,875
CHINA
Long-lived assets	23,621	28,222
SLOVAKIA
Long-lived assets	7,468	6,738
UNITED KINGDOM
Long-lived assets	3,024	1,109
All Other Foreign Countries [Member]
Long-lived assets	$ 549	$ 1,072

Note 12 - Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Accrued Liabilities [Table Text Block]

	December 31,
	2023		2022
Salaries, bonuses and related benefits	$	33,566	$	27,422
Deferred revenue		3,046		8,847
Accrued restructuring costs		5,498		6,796
Sales commissions		2,347		2,521
Subcontracting labor		1,622		1,875
Warranty accrual		1,542		1,287
Other		7,036		2,125
	$	54,657	$	50,873

Restructuring and Related Costs [Table Text Block]

			Year Ended
			December 31, 2023
	Liability at				Cash Payments			Liability at
	December 31,		New		and Other			December 31,
	2022		Charges		Settlements			2023
Severance costs	$	3,390	$	7,590	$	(9,429	)	$	1,551
Disposal of equipment in connection with restructuring		-		1,320		(1,320	)		-
Other restructuring costs		3,406		1,204		(663	)		3,947
Total	$	6,796	$	10,114	$	(11,412	)	$	5,498

Note 5 - Goodwill and Other Intangible Assets - Estimated Fair Values Over Carrying Value, Including Goodwill (Details) - Europe [Member]	Dec. 31, 2023
Power Solutions and Protection Segment [Member]
% by Which Estimated Fair Value Exceeds Carrying Value	89.10%
Cinch Connectivity Solutions Segment [Member]
% by Which Estimated Fair Value Exceeds Carrying Value	79.90%
EOS Power Panama Inc. [Member]
% by Which Estimated Fair Value Exceeds Carrying Value	71.20%
CUI Power [Member]
% by Which Estimated Fair Value Exceeds Carrying Value	169.40%

Note 10 - Income Taxes - Components of Deferred Income Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
State tax credits	$ 424	$ 571
Unfunded pension liability	(255)	(416)
Reserves and accruals	4,504	4,947
Federal, state and foreign net operating loss and credit carryforwards	4,303	4,316
Depreciation	435	437
Amortization	6,004	2,968
Lease accounting	4,605	4,816
Other accruals	5,997	6,486
Total deferred tax assets	26,017	24,125
Depreciation	2,331	2,227
Amortization	6,359	6,178
Lease accounting	4,659	4,889
Other accruals	562	780
Total deferred tax liabilities	13,911	14,074
Valuation allowance	2,009	4,027
Net deferred tax assets	$ 10,097	$ 6,024

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 89,371	$ 70,266
Held to maturity U.S. Treasury securities	37,548	0
Accounts receivable, net of allowance of $1,388 and $1,552, at December 31, 2023 and 2022, respectively	84,129	107,274
Inventories	136,540	172,465
Unbilled receivables	12,793	18,244
Other current assets	21,097	13,159
Total current assets	381,478	381,408
Property, plant and equipment, net	36,533	36,833
Right-of-use assets	20,481	21,551
Equity method investment	10,282	0
Intangible assets, net	49,391	54,111
Goodwill, net	26,642	25,099
Deferred income taxes	11,553	7,281
Other assets	33,119	34,183
Total assets	571,631	560,466
Current liabilities:
Accounts payable	40,441	64,589
Accrued expenses	54,657	50,873
Operating lease liability, current	6,350	5,870
Other current liabilities	9,161	14,972
Total current liabilities	110,609	136,304
Long-term liabilities:
Long-term debt	60,000	95,000
Operating lease liability, long-term	14,212	15,742
Liability for uncertain tax positions	19,823	24,798
Minimum pension obligation and unfunded pension liability	19,876	18,522
Deferred income taxes	1,456	1,257
Other long-term liabilities	5,097	6,497
Total liabilities	231,073	298,120
Commitments and contingencies (see Note 19)
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)	(454)	(349)
Additional paid-in capital	44,260	40,772
Retained earnings	307,510	237,188
Accumulated other comprehensive loss	(12,037)	(16,546)
Total stockholders' equity	340,558	262,346
Total liabilities and stockholders' equity	571,631	560,466
Common Class A [Member]
Stockholders' equity:
Common Stock	214	214
Common Class B [Member]
Stockholders' equity:
Common Stock	1,065	1,067
Related Party [Member]
Current assets:
Related-party note receivable	$ 2,152	$ 0

Note 9 - Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment Disclosure [Text Block]

9.	PROPERTY, PLANT AND EQUIPMENT, NET

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

	December 31,
	2023			2022
Land	$	348		$	1,098
Buildings and improvements		15,286			21,529
Machinery and equipment		98,527			118,358
Construction in progress		1,567			4,239
		115,728			145,224
Accumulated depreciation		(79,195	)		(108,391	)
Property, plant and equipment, net	$	36,533		$	36,833

Depreciation expense for the years ended December 31, 2023 and 2022 was $8.6 million and $8.9 million, respectively. At December 31, 2023 and December 31, 2022, a total of $1.3 million and $1.5 million, respectively, of property was classified as assets held for sale on the accompanying consolidated balance sheet related to several buildings in Zhongshan, PRC.

Note 12 - Accrued Expenses - Activity and Liability Balances Related to Restructuring Costs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Liability, beginning balance	$ 6,796
New charges	10,114
Cash payment and other settlements	(11,412)
Liability, ending balance	5,498
Employee Severance [Member]
Liability, beginning balance	3,390
New charges	7,590
Cash payment and other settlements	(9,429)
Liability, ending balance	1,551
Disposal Of Equipment [Member]
Liability, beginning balance	0
New charges	1,320
Cash payment and other settlements	(1,320)
Liability, ending balance	0
Other Restructuring [Member]
Liability, beginning balance	3,406
New charges	1,204
Cash payment and other settlements	(663)
Liability, ending balance	$ 3,947

Note 7 - Other Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Liability, Defined Benefit Plan, Noncurrent	$ 19,876	$ 18,522
Cash Surrender Value, Fair Value Disclosure	15,100	13,900
Increase (Decrease) in Cash Surrender Value	1,300	(2,200)
Investments Held in Rabbi Trust [Member]
Debt Securities, Available-for-Sale, Amortized Cost	300	100
Debt Securities, Available-for-Sale	300	100
Supplemental Employee Retirement Plan [Member]
Liability, Defined Benefit Plan, Noncurrent	19,500	18,200
Investments, Fair Value Disclosure	$ 15,400	$ 14,000

Note 18 - Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating cash flows from operating leases	$ 8,090	$ 8,970
Operating cash flows from finance leases	121	137
Finance cash flows from finance leases	527	423
Operating leases	5,999	8,052
Finance leases	$ 199	$ 207

Note 15 - Retirement Fund and Profit Sharing Plan (Details Textual) $ in Thousands	12 Months Ended		24 Months Ended
	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2023 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)	$ 1,326	$ 1,451
Defined Benefit Plan, Accumulated Benefit Obligation	18,100	17,000	18,100
Investments, Fair Value Disclosure	15,400	14,000	15,400
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	800		800
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 0		$ 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	1,300
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class A [Member]
Shares Held in Plan (in shares) \| shares	287,777		287,777
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class B [Member]
Shares Held in Plan (in shares) \| shares	65,089		65,089
Nonqualified Deferred Compensation Plan [Member]
Deferred Compensation Arrangement, Vesting Age	65		65
Deferred Compensation Plan Assets	$ 1,000	700	$ 1,000
Nonqualified Deferred Compensation Plan [Member] \| Maximum [Member]
Deferred Compensation Arrangement with Individual, Compensation Expense	200	100
Retirement Fund Covering Hong Kong-based Employees [Member]
Defined Contribution Plan, Cost	$ 1,500	$ 1,800
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	0
Retirement Fund Covering Hong Kong-based Employees [Member] \| Common Class B [Member]
Shares Held in Plan (in shares) \| shares		17,342

Note 16 - Share-based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Text Block]

16.

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 interests 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, 2023, 517,000 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 $3.5 million and $2.4 million for 2023 and 2022, 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 2023 and 2022. At December 31, 2023 and 2022, 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 utilizing an estimated annual forfeiture rate of 5%. During 2023 and 2022, the Company issued 10,000 shares and 322,500 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, 2023 is presented below:

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

Outstanding at January 1, 2023		636,500		$	26.31		4.4
Granted		10,000			49.19
Vested		(119,250	)		17.96
Forfeited		(30,500	)		21.30
Outstanding at December 31, 2023		496,750		$	29.09		3.7

As of December 31, 2023, there was $9.8 million of total pretax unrecognized compensation cost related to non-vested stock-based compensation arrangements granted under the restricted stock award plan. That cost is expected to be recognized over a period of 4.4 years. This expense is recorded in cost of sales, R&D and SG&A expense based upon the employment classification of the award recipients.

The Company's policy in 2023 was to issue new shares to satisfy restricted stock awards. Currently the Company believes that the majority of its restricted stock awards will vest.

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Foreign currency translation adjustment, tax expense	$ 93	$ 47
Unrealized gains (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	$ (161)	$ (1,381)

Note 8 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Raw materials	$ 63,647	$ 74,572
Work in progress	42,038	44,397
Finished goods	30,855	53,496
Inventories	$ 136,540	$ 172,465

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net sales	$ 639,813	$ 654,233
Cost of sales	423,964	470,780
Gross profit	215,849	183,453
Research and development costs	22,487	20,238
Selling, general and administrative expenses	99,091	92,342
Restructuring charges	10,114	7,322
Gain on sale of properties	(3,819)	(1,596)
Income from operations	87,976	65,147
Gain on sale of Czech Republic business	980	0
Interest expense	(2,850)	(3,379)
Other income/expense, net	(2,806)	(2,709)
Earnings before provision for income taxes	83,300	59,059
Provision for income taxes	9,469	6,370
Net earnings available to common shareholders	73,831	52,689
Common Class A [Member]
Net earnings available to common shareholders	$ 11,830	$ 8,598
Net earnings per common share:
Net earnings per common share - basic and diluted (in dollars per share)	$ 5.52	$ 4.01
Weighted-average shares outstanding:
Weighted-average number of shares outstanding - basic and diluted (in shares)	2,142	2,143
Common Class B [Member]
Net earnings available to common shareholders	$ 62,001	$ 44,091
Net earnings per common share:
Net earnings per common share - basic and diluted (in dollars per share)	$ 5.83	$ 4.24
Weighted-average shares outstanding:
Weighted-average number of shares outstanding - basic and diluted (in shares)	10,634	10,394

Note 4 - Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Disaggregation of Revenue [Table Text Block]

	Year Ended December 31, 2023
	Power Solutions		Connectivity		Magnetic
	and Protection		Solutions		Solutions		Consolidated

*By Geographic Region:*
North America	$	233,016	$	172,518	$	42,259	$	447,793
Europe		57,567		32,689		8,263		98,519
Asia		23,522		5,365		64,614		93,501
	$	314,105	$	210,572	$	115,136	$	639,813

*By Sales Channel:*
Direct to customer	$	221,828	$	130,893	$	86,608	$	439,329
Through distribution		92,277		79,679		28,528		200,484
	$	314,105	$	210,572	$	115,136	$	639,813

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

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

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

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

	December 31,		December 31,
	2023		2022

Contract assets - current (unbilled receivables)	$	12,793	$	18,244
Contract liabilities - current (deferred revenue)	$	3,046	$	8,847

	Year Ended
	December 31, 2023
Balance, January 1	$	8,847
New advance payments received		4,121
Recognized as revenue during period		(9,930	)
Currency translation		8
Balance, December 31	$	3,046

Note 12 - Accrued Expenses

12 Months Ended

Dec. 31, 2023

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

12.

ACCRUED EXPENSES

Accrued expenses consist of the following:

	December 31,
	2023		2022
Salaries, bonuses and related benefits	$	33,566	$	27,422
Deferred revenue		3,046		8,847
Accrued restructuring costs		5,498		6,796
Sales commissions		2,347		2,521
Subcontracting labor		1,622		1,875
Warranty accrual		1,542		1,287
Other		7,036		2,125
	$	54,657	$	50,873

The change in warranty accrual during 2023 primarily related to repair costs incurred and adjustments to pre-existing warranties. There were no new material warranty charges incurred during 2023.

Restructuring Activities:

Activity and liability balances related to restructuring costs for the year ended December 31, 2023 are as follows:

			Year Ended
			December 31, 2023
	Liability at				Cash Payments			Liability at
	December 31,		New		and Other			December 31,
	2022		Charges		Settlements			2023
Severance costs	$	3,390	$	7,590	$	(9,429	)	$	1,551
Disposal of equipment in connection with restructuring		-		1,320		(1,320	)		-
Other restructuring costs		3,406		1,204		(663	)		3,947
Total	$	6,796	$	10,114	$	(11,412	)	$	5,498

During the third quarter of 2022, a series of initiatives were launched to streamline our operational footprint. In a project completed during the fourth quarter of 2023, two of our Magnetic Solutions manufacturing facilities in Zhongshan and Pingguo, China, were largely consolidated into a single centralized site in the Binyang county of Southwestern China (the new Bel Guangxi facility). Further, during the first half of 2023, we completed the transition out of our Tempe, Arizona and Sudbury, UK facilities (both within our Connectivity Solutions segment) into other existing Bel sites. As of December 31, 2023, our Connectivity Solutions Melbourne, Florida site was substantially complete in transitioning its manufacturing operations into our existing site in Waseca, Minnesota. The $10.1 million of restructuring charges incurred the year ended December 31, 2023, and the accrued restructuring costs of $5.5 million at December 31, 2023, are associated with these collective initiatives.

Note 9 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Depreciation	$ 8.6	$ 8.9
Jersey City [Member]
Asset, Held-for-Sale, Not Part of Disposal Group	$ 1.3	$ 1.5

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

12 Months Ended

Dec. 31, 2023

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 around the world, primarily in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation and eMobility industries. Bel's portfolio of products also finds application in the automotive, medical, broadcasting and consumer electronics markets. We manage our operations by product group through our reportable operating segments, Power Solutions and Protection, Connectivity Solutions and Magnetic Solutions.

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

		Amortized Cost				Gross Unrealized Gain				Fair Value
Held to maturity U.S. Treasury securities		$	37,548			$	103			$	37,651

In determining the fair value of the Company's held to maturity U.S. Treasury securities, the Company utilized Level 1 inputs of the market price for comparable securities as of December 31 2023.

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

	Years Ended December 31,
	2023		2022
Numerator:
Net earnings	$	73,831	$	52,689
Less dividends declared:
Class A		512		514
Class B		2,997		2,922
Undistributed earnings	$	70,322	$	49,253

Undistributed earnings allocation:
Class A undistributed earnings	$	11,318	$	8,084
Class B undistributed earnings		59,004		41,169
Total undistributed earnings	$	70,322	$	49,253

Net earnings allocation:
Class A net earnings	$	11,830	$	8,598
Class B net earnings		62,001		44,091
Net earnings	$	73,831	$	52,689

Denominator:
Weighted average shares outstanding:
Class A		2,142		2,143
Class B		10,634		10,394

Net earnings per share:
Class A	$	5.52	$	4.01
Class B	$	5.83	$	4.24

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

Recently Issued Accounting Standards

Recently Adopted Accounting Standards

Accounting Standards Issued But Not Yet Adopted

Note 13 - Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions	Dec. 31, 2023	Jan. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
Foreign Exchange Forward [Member]
Derivative, Notional Amount	$ 25.8			$ 25.7
The 2021 Swaps One [Member]
Derivative, Notional Amount	$ 30.0
Derivative, Fixed Interest Rate	1.3055%	1.334%	1.334%
The 2021 Swaps One [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Derivative, Basis Spread on Variable Rate		0.10%
The 2021 Swaps Two [Member]
Derivative, Notional Amount	$ 30.0
Derivative, Fixed Interest Rate	1.318%	1.348%	1.348%

Note 10 - Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Text Block]

10.

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 2020 and for state examinations before 2017. Regarding foreign subsidiaries, the Company is no longer subject to examination by tax authorities for years before 2013 in Asia and generally 2015 in Europe.

At December 31, 2023 and 2022, the Company has approximately $19.8 million and $24.8 million, respectively, of liabilities for uncertain tax positions. These amounts, if recognized, would reduce the Company’s effective tax rate. As of December 31, 2023, approximately $3.5 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:

	Years Ended December 31,
	2023			2022
Liability for uncertain tax positions - January 1	$	24,798		$	28,434
Additions based on tax positions related to the current year		973			1,284
Translation adjustment		(249	)		(1,121	)
Settlement/expiration of statutes of limitations		(5,699	)		(3,799	)
Liability for uncertain tax positions - December 31	$	19,823		$	24,798

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, 2023 and 2022, the Company recognized $0.4 million and $0.6 million, respectively, in interest and penalties in the consolidated statements of operations. During the years ended December 31, 2023 and 2022, the Company recognized a benefit of $2.3 million and $1.6 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 $2.0 million and $4.0 million accrued for the payment of interest and penalties at December 31, 2023 and 2022, 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 $51.5 million and $14.2 million for 2023 and 2022, respectively, and earnings before provision for income taxes from foreign operations of $31.7 million and $44.8 million for 2023 and 2022, respectively.

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

	Years Ended December 31,
	2023			2022
Current:
Federal	$	11,403		$	9,175
State		975			787
Foreign		963			1,002
		13,341			10,964
Deferred:
Federal		(3,128	)		(4,064	)
State		(139	)		(255	)
Foreign		(605	)		(275	)
		(3,872	)		(4,594	)

	$	9,469		$	6,370

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

	Years Ended December 31,
	2023						2022
	$			%			$			%
Tax provision computed at the federal statutory rate	$	17,493			21	%	$	12,402			21	%
(Decrease) increase in taxes resulting from:
Different tax rates applicable to foreign operations		(1,697	)		(2	%)		(1,677	)		(3	%)
Reversal of liability for uncertain tax positions - net		(4,726	)		(6	%)		(2,515	)		(4	%)
Research and experimentation and foreign tax credits		(75	)		(0	%)		(139	)		(0	%)
State taxes, net of federal benefit		(433	)		(1	%)		292			0	%
SERP/COLI and restricted stock income		(756	)		(1	%)		733			1	%
Other, net		(337	)		(0	%)		(2,726	)		(5	%)
Tax provision computed at the Company's effective tax rate	$	9,469			11	%	$	6,370			11	%

As of December 31, 2023, the Company has $26.0 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 $4.0 million of deferred tax assets. In addition, the Company has $0.6 million of credit carryforwards and acquired deferred tax assets of $0.6 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 $2.0 million on these deferred tax assets. The federal and certain foreign NOLs can be carried forward indefinitely, the state and certain foreign NOLs expire at various times during 2027 – 2042 and the tax credit carryforwards expire at various times during 2030 - 2042.

Management has no specific plans to indefinitely reinvest the unremitted earnings of our foreign subsidiaries as of December 31, 2023. 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, 2023. 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,
	2023			2022
	Tax Effect			Tax Effect

Deferred tax assets:
State tax credits	$	424		$	571
Unfunded pension liability		(255	)		(416	)
Reserves and accruals		4,504			4,947
Federal, state and foreign net operating loss and credit carryforwards		4,303			4,316
Depreciation		435			437
Amortization		6,004			2,968
Lease accounting		4,605			4,816
Other accruals		5,997			6,486
Total deferred tax assets		26,017			24,125
Deferred tax liabilities:
Depreciation		2,331			2,227
Amortization		6,359			6,178
Lease accounting		4,659			4,889
Other accruals		562			780
Total deferred tax liabilities		13,911			14,074
Valuation allowance		2,009			4,027
Net deferred tax assets	$	10,097		$	6,024

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
-Topic 946
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Note 15 - Retirement Fund and Profit Sharing Plan

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Text Block]

15.

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 each of the years ended December 31, 2023 and 2022 amounted to $1.3 million. As of December 31, 2023, the plan owned approximately 287,777 shares and65,089 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, 2023 and 2022 amounted to $0.2 million and $0.1 million, respectively. As the plan is fully funded, the assets and liabilities related to the DCP were in equal amounts of $1.0 million at December 31, 2023 and $0.7 million at December 31, 2022. 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, 2023 and 2022 amounted to approximately $1.5 million and $1.8 million, respectively. As of December 31, 2022, 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, 2023.

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 7, "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, 2023 and 2022 amounted to $1.3 million and $1.5 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, 2023 and 2022:

	Years Ended December 31,
	2023		2022

Service Cost	$	369	$	503
Interest Cost		886		636
Net amortization		71		312
Net periodic benefit cost	$	1,326	$	1,451

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 income/expense, net in the accompanying consolidated statements of operations.

Obligations and Funded Status

Summarized information related to the SERP about the changes in plan assets and benefit obligation, the funded status and the amounts recorded at December 31, 2023 and 2022 are as follows:

	Years Ended December 31,
	2023			2022
Fair value of plan assets, January 1	$	-		$	-
Company contributions		775			606
Benefits paid		(775	)		(606	)
Fair value of plan assets, December 31	$	-		$	-
Benefit obligation, January 1	$	18,175		$	23,580
Service cost		370			503
Interest cost		886			636
Benefits paid		(775	)		(606	)
Actuarial loss (gain)		828			(5,938	)
Benefit obligation, December 31	$	19,484		$	18,175
Underfunded status, December 31	$	(19,484	)	$	(18,175	)

The Company has recorded the 2023 and 2022 underfunded status as a long-term liability on the consolidated balance sheets. The accumulated benefit obligation for the SERP was $18.1 million as of December 31, 2023 and $17.0 million as of December 31, 2022. The aforementioned company-owned life insurance policies and marketable securities held in a rabbi trust had a combined value of $15.4 million and $14.0 million at December 31, 2023 and 2022, respectively. See Note 7, "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 2024. 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 2024, as the plan has no assets.

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

Years Ending
December 31,

2024	$	972
2025		1,015
2026		1,033
2027		1,150
2028		1,321
2029 - 2033		7,218

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

	December 31,
	2023			2022
Prior service cost	$	212		$	334
Net loss		(1,336	)		(2,216	)
	$	(1,124	)	$	(1,882	)

Actuarial Assumptions

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

	Years Ended December 31,
	2023			2022
Net periodic benefit cost:
Discount rate		5.00	%		2.75	%
Rate of compensation increase		2.50	%		2.50	%
Benefit obligation:
Discount rate		4.75	%		5.00	%
Rate of compensation increase		2.50	%		2.50	%

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

Note 16 - Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023		636,500		$	26.31		4.4
Granted		10,000			49.19
Vested		(119,250	)		17.96
Forfeited		(30,500	)		21.30
Outstanding at December 31, 2023		496,750		$	29.09		3.7

Note 5 - Goodwill and Other Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2023 USD ($)
2024	$ 4,563
2025	4,551
2026	4,551
2027	4,551
2028	$ 4,551

Note 7 - Other Assets

12 Months Ended

Dec. 31, 2023

Other Assets Disclosure [Text Block]

7.	OTHER ASSETS

At December 31, 2023 and 2022, the Company had obligations of $19.5 million and $18.2 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, 2023 and 2022, these assets had a combined value of $15.4 million and $14.0 million, respectively.

Company-Owned Life Insurance

Investments in company-owned life insurance policies ("COLI") were made with the intention of utilizing them as a long-term funding source for the Company's SERP obligations. However, the cash surrender value of the COLI does not represent a committed funding source for these obligations. Any proceeds from these policies are subject to claims from creditors. The cash surrender value of the COLI of $15.1 million and $13.9 million at December 31, 2023 and 2022, respectively, is included in other assets in the accompanying consolidated balance sheets. The volatility in global equity markets in recent years has also had an effect on the cash surrender value of the COLI policies. The Company recorded income (expense) to account for the increase (decrease) in cash surrender value in the amount of $1.3 million and ($2.2) million during the years ended December 31, 2023 and 2022, 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, 2023 and 2022, the Company held, in the aforementioned rabbi trust, available-for-sale investments at a cost of $0.3 million and $0.1 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, 2023 and 2022, the fair market value of these investments was $0.3 million and $0.1 million, respectively.

Note 11 - Debt - Scheduled Principal Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
2024	$ 0
2025	0
2026	60,000
2027	0
2028	0
Total long-term debt	60,000
Less: Current maturities of long-term debt	0
Noncurrent portion of long-term debt	$ 60,000

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

Note 4 - Revenue - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Contract assets - current (unbilled receivables)	$ 12,793	$ 18,244
Contract liabilities - current (deferred revenue)	3,046	$ 8,847
Balance, January 1	8,847
New advance payments received	4,121
Recognized as revenue during period	(9,930)
Currency translation	8
Balance, December 31	$ 3,046

Note 8 - Property, Plant and Equipment, Net - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, plant and equipment, gross	$ 115,728	$ 145,224
Accumulated depreciation	(79,195)	(108,391)
Property, plant and equipment, net	36,533	36,833
Land [Member]
Property, plant and equipment, gross	348	1,098
Building and Building Improvements [Member]
Property, plant and equipment, gross	15,286	21,529
Machinery and Equipment [Member]
Property, plant and equipment, gross	98,527	118,358
Construction in Progress [Member]
Property, plant and equipment, gross	$ 1,567	$ 4,239

Note 12 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Salaries, bonuses and related benefits	$ 33,566	$ 27,422
Deferred revenue	3,046	8,847
Accrued restructuring costs	5,498	6,796
Sales commissions	2,347	2,521
Subcontracting labor	1,622	1,875
Warranty accrual	1,542	1,287
Other	7,036	2,125
Accrued Liabilities, Current	$ 54,657	$ 50,873

Note 5 - Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Goodwill [Table Text Block]


	Total		Power Solutions & Protection		Connectivity Solutions		Magnetic Solutions
Balance at January 1, 2023:
Goodwill, gross	$	25,099	$	18,152	$	6,947	$	-
Goodwill, net	$	25,099	$	18,152	$	6,947	$	-

Foreign currency translation		1,543		471		1,072		-

Balance at December 31, 2023:
Goodwill, gross	$	26,642	$	18,623	$	8,019	$	-
Goodwill, net	$	26,642	$	18,623	$	8,019	$	-

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
Power Europe		89.1%
Connectivity Europe		79.9%
EOS		71.2%
CUI		169.4%

Schedule of Finite Lived and Indefinite Lived Intangible Assets [Table Text Block]

	December 31, 2023						December 31, 2022
	Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount

Patents, licenses and technology	$	19,176	$	11,386	$	7,790	$	38,607	$	30,156	$	8,451
Customer relationships		56,711		32,099		24,612		56,917		28,096		28,821
Non-compete agreements		-		-		-		2,662		2,662		-
Trademarks (indefinite-lived)		17,148		159		16,989		16,999		160		16,839
	$	93,035	$	43,644	$	49,391	$	115,185	$	61,074	$	54,111

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

December 31,	Amortization Expense

2024	$	4,563
2025		4,551
2026		4,551
2027		4,551
2028		4,551

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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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Note 4 - Revenue (Details Textual) $ in Millions	Dec. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Amount	$ 2.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Amount	$ 4.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Amount	$ 1.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 14 - Segments

12 Months Ended

Dec. 31, 2023

Segment Reporting Disclosure [Text Block]

14.

SEGMENTS

The Company operates in one industry with three reportable operating segments, which represent the Company's three product groups, consisting of Power Solutions and Protection, Connectivity Solutions and Magnetic Solutions. 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, 2023
	Power Solutions and Protection			Connectivity Solutions			Magnetic Solutions			Corporate/ Other				Total
	Power Solutions and Protection			Connectivity Solutions			Magnetic Solutions			Corporate/ Other				Total
Net sales	$	314,105		$	210,572		$	115,136		$	-		$	639,813
Gross Profit		119,741			72,031			25,314			(1,237	)		215,849
Gross Profit %		38.1	%		34.2	%		22.0	%		nm			33.7	%
Total Assets		222,068			197,045			47,900			104,618			571,631
Capital Expenditures		4,563			7,384			160			19			12,126
Depreciation and Amortization Expense		5,280			6,152			1,094			786			13,312

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

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.

	Years Ended December 31,
	2023		2022
*Net Sales by Geographic Location:*

United States	$	447,793	$	409,199
People's Republic of China		43,109		77,061
Macao		35,026		61,744
United Kingdom		25,648		21,903
Slovakia		35,555		22,120
Germany		17,327		24,112
India		15,365		17,608
Switzerland		11,237		9,893
All other foreign countries		8,753		10,593
Consolidated net sales	$	639,813	$	654,233

*Net Sales by Major Product Line:*

Power solutions and protection	$	314,105	$	288,366
Connectivity solutions		210,572		187,085
Magnetic solutions		115,136		178,782
Consolidated net sales	$	639,813	$	654,233

The following is a summary of long-lived assets by geographic area as of December 31, 2023 and 2022:

	December 31,
	2023		2022
*Long-lived Assets by Geographic Location:*

United States	$	34,990	$	33,875
People's Republic of China (PRC)		23,621		28,222
Slovakia		7,468		6,738
United Kingdom		3,024		1,109
All other foreign countries		549		1,072
Consolidated long-lived assets	$	69,652	$	71,016

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 21.6% of its identifiable assets are located in Asia.

Net Sales to Major Customers

The Company had no direct customers whose net sales represented in excess of ten percent of the Company's consolidated net sales in 2023. In 2022, the Company had one direct customer with net sales of $83.9 million (12.8% of sales). 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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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Note 15 - Retirement Fund and Profit Sharing Plan - Changes in Plan Assets and Benefit Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Actuarial loss (gain)	$ 828	$ (5,938)
Supplemental Employee Retirement Plan [Member]
Company contributions	775	606
Benefits paid	(775)	(606)
Benefit obligation	18,175	23,580
Service Cost	369	503
Interest Cost	886	636
Benefits paid	(775)	(606)
Benefit obligation	19,484	18,175
Underfunded status, December 31	$ (19,484)	$ (18,175)

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts receivable, allowance for doubtful accounts	$ 1,388	$ 1,552
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)	$ 0.1	$ 0.1
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares outstanding (in shares)	2,141,589	2,141,589
Common stock, treasury shares (in shares)	3,323	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)	$ 0.1	$ 0.1
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares outstanding (in shares)	10,620,260	10,642,760
Common stock, treasury shares (in shares)	17,342	17,342
Common Class B [Member] \| Restricted Stock [Member]
Common stock, treasury shares (in shares)	3,218,307	3,218,307

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2023	Mar. 01, 2024	Jun. 30, 2023
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	2023
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	000-11676
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-1463699
Entity Address, Address Line One	300 Executive Drive, Suite 300
Entity Address, City or Town	West Orange
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07052
City Area Code	201
Local Phone Number	432-0463
Entity Well-known Seasoned Issuer	Yes
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
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 696,100,000
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		10,615,662
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		2,141,011

Note 8 - Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Inventory, Current [Table Text Block]

	December 31,
	2023		2022
Raw materials	$	63,647	$	74,572
Work in progress		42,038		44,397
Finished goods		30,855		53,496
Inventories	$	136,540	$	172,465

Note 14 - Segments (Details Textual) $ in Thousands	12 Months Ended
Note 14 - Segments (Details Textual) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
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	$ 639,813	$ 654,233
Asia [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 93,501	$ 156,413
Assets, Total [Member] \| Geographic Concentration Risk [Member] \| Asia [Member]
Concentration Risk, Percentage	21.60%
Revenue, Segment Benchmark [Member] \| Customer Concentration Risk [Member]
Number of Customers	1
Revenue from Contract with Customer, Excluding Assessed Tax	$ 83,900
Revenue, Segment Benchmark [Member] \| Customer Concentration Risk [Member] \| One Customer [Member]
Concentration Risk, Percentage	12.80%

Note 20 - Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Net current period other comprehensive income (loss)

$ 262,346

$ 208,743

4,509

2,317

Accumulated Foreign Currency Adjustment Attributable to Parent [Member]

340,558

262,346

Other comprehensive income (loss) before reclassifications

(23,107)

(14,911)

7,221

(7,391)

Amounts reclassified from accumulated other comprehensive income (loss)

(537)

(805)

Net current period other comprehensive income (loss)

6,684

(8,196)

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

(16,423)

(23,107)

Other comprehensive income (loss) before reclassifications

5,539

(116)

(1,579)

5,655

Amounts reclassified from accumulated other comprehensive income (loss)

Net current period other comprehensive income (loss)

(1,579)

5,655

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

3,960

5,539

Other comprehensive income (loss) before reclassifications

(11)

Amounts reclassified from accumulated other comprehensive income (loss)

^[1]

Net current period other comprehensive income (loss)

(11)

Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]

Other comprehensive income (loss) before reclassifications

1,004

(3,865)

(542)

5,119

Amounts reclassified from accumulated other comprehensive income (loss)

(55)

(250)

Net current period other comprehensive income (loss)

(597)

4,869

AOCI Attributable to Parent [Member]

407

1,004

Other comprehensive income (loss) before reclassifications

(16,546)

(18,863)

5,101

3,372

Amounts reclassified from accumulated other comprehensive income (loss)

(592)

(1,055)

Net current period other comprehensive income (loss)

4,509

2,317

$ (12,037)

$ (16,546)

[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.

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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Note 4 - Revenue

12 Months Ended

Dec. 31, 2023

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 Power Solutions and Protection product 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 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 Magnetic Solutions product 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, 2023
	Power Solutions		Connectivity		Magnetic
	and Protection		Solutions		Solutions		Consolidated

*By Geographic Region:*
North America	$	233,016	$	172,518	$	42,259	$	447,793
Europe		57,567		32,689		8,263		98,519
Asia		23,522		5,365		64,614		93,501
	$	314,105	$	210,572	$	115,136	$	639,813

*By Sales Channel:*
Direct to customer	$	221,828	$	130,893	$	86,608	$	439,329
Through distribution		92,277		79,679		28,528		200,484
	$	314,105	$	210,572	$	115,136	$	639,813

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

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

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

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, 2023 and December 31, 2022 are as follows:

	December 31,		December 31,
	2023		2022

Contract assets - current (unbilled receivables)	$	12,793	$	18,244
Contract liabilities - current (deferred revenue)	$	3,046	$	8,847

The change in balance of our unbilled receivables from December 31, 2022 to December 31, 2023 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, 2023 is presented below:

	Year Ended
	December 31, 2023
Balance, January 1	$	8,847
New advance payments received		4,121
Recognized as revenue during period		(9,930	)
Currency translation		8
Balance, December 31	$	3,046

Transaction Price Allocated to Future Obligations:

The aggregate amount of transaction price allocated to remaining performance obligations that have not been fully satisfied as of December 31, 2023 related to contracts that exceed one year in duration amounted to $4.4 million, with expected contract expiration dates that range largely from 2025 – 2026. It is expected that $2.4 million of this aggregate amount will be recognized in 2025, $1.9 million will be recognized in 2026 and the remainder will be recognized in years beyond 2026. The majority of the Company's orders received (but not yet shipped) at December 31, 2023 is related to contracts that have an original expected duration of one year or less, for which the Company is electing to utilize the practical expedient available within the guidance, and are excluded from the transaction price related to these future obligations. The Company will generally satisfy the remaining performance obligations as we transfer control of the products ordered to our customers.

The 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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Note 3 - Divestiture of Subsidiary (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 01, 2023
Bel Stewart s.r.o. [Member] \| Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Disposal Group, Including Discontinued Operation, Consideration	$ 5,063	$ 5,100

Note 19 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Text Block]

19.

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 $57.7 million and $113.4 million at December 31, 2023 and December 31, 2022, respectively. The Company also had outstanding purchase orders related to capital expenditures in the amount of $5.8 million and $7.8 million at December 31, 2023 and December 31, 2022, 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. On July 27, 2023, the Western District of Texas court filed an Order granting MPS’s motion for summary judgment of non-infringement. The Court’s memorandum and opinion is forthcoming. The Company is evaluating its options for appeal.

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, 2023 and 2022. 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, 2023 and 2022.

In connection with the Company's 2021 acquisition of EOS Power ("EOS"), there is an ongoing claim asserted with respect to EOS by the Principal Commissioner of Customs (Preventive), Mumbai related to customs duties and imposed fines and penalties dating back to 1994. The original demand was in the amount of approximately $1.4 million, of which EOS has paid $0.5 million. EOS filed an Appeal in 2016 which is pending with the Customs, Excise and Service Tax Appellate Tribunal in Mumbai related to the $0.9 million balance of the original demand net of EOS' payment. As part of the EOS acquisition agreement entered into in March 2021, the Company is indemnified for this matter for a period of 7 years from the acquisition date. The Company is unable to determine at this time what amount, if any, may ultimately be due in connection with this claim. As such, no estimate was accrued as of December 31, 2023.

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 13 - Derivative Instruments and Hedging Activities - Derivative Financial Instruments Effects on Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net (losses) gains recognized in AOCL	$ 1,731	$ (575)
Foreign Exchange Forward [Member]
Net (losses) gains recognized in AOCL	(1,470)	(119)
Net losses reclassified from AOCL to the consolidated statement of operations	(537)	(805)
Interest Rate Swap [Member]
Net (losses) gains recognized in AOCL	689	5,886
Net losses reclassified from AOCL to the consolidated statement of operations	$ 2,268	$ 230

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, Common [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, Common [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, Common [Member]	Additional Paid-in Capital [Member]	Total
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		0
Forfeiture of restricted common stock, APIC																				4
Repurchase of treasury stock															0	0	0	0	(349)	0	(349)
Foreign currency translation adjustment, net of taxes															0	(8,196)	0	0	0	0	(8,196)
Unrealized gains on interest rate swap cash flow hedge, net of taxes of $0															0	5,655	0	0	0	0	5,655
Unrealized holding losses on marketable securities, net of taxes of $0															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
Balance at Dec. 31, 2022															237,188	(16,546)	214	1,067	(349)	40,772	262,346
Net earnings							11,830							62,001	73,831	0	0	0	0	0	73,831
Cash dividends declared on common stock	$ (512)	$ 0	$ 0	$ 0	$ 0	$ 0	$ (512)	$ (2,997)	$ 0	$ 0	$ 0	$ 0	$ 0	$ (2,997)
Issuance of restricted common stock															0	0	0	1	0	(1)	0
Forfeiture of restricted common stock															0	0	0	(3)	0		0
Forfeiture of restricted common stock, APIC																				3
Repurchase of treasury stock															0	0	0	0	(105)	0	(105)
Foreign currency translation adjustment, net of taxes															0	6,684	0	0	0	0	6,684
Unrealized gains on interest rate swap cash flow hedge, net of taxes of $0															0	(1,579)	0	0	0	0	(1,579)
Unrealized holding losses on marketable securities, net of taxes of $0															0	1	0	0	0	0	1
Stock-based compensation expense															0	0	0	0	0	3,486	3,486
Change in unfunded SERP liability, net of taxes															0	(597)	0	0	0	0	(597)
Balance at Dec. 31, 2023															$ 307,510	$ (12,037)	$ 214	$ 1,065	$ (454)	$ 44,260	$ 340,558

Note 3 - Divestiture of Subsidiary

12 Months Ended

Dec. 31, 2023

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

3.	DIVESTITURE OF SUBSIDIARY

On June 1, 2023, the Company completed its divestment of Bel Stewart s.r.o., a former subsidiary in the Czech Republic which has historically been reported within Bel’s Connectivity Solutions segment. The business was sold to PEI Genesis (“PEI”) for total consideration of $5.1 million, subject to working capital adjustments. The divestment of this non-core business was a strategic decision which allows the Connectivity Solutions segment to focus on its main product categories serving customer end markets such as commercial air, defense, industrial and networking which better align with its long-term growth objectives.

The carrying amounts of the major classes of assets and liabilities included as part of the sale were as follows:

	Total
Cash and cash equivalents	$	2,072
Accounts receivable		1,030
Inventories		1,310
Property, plant and equipment		326
Other assets		48
Accounts payable		(441	)
Accrued expenses		(126	)
Income taxes payable		(100	)
Other current liabilities		(13	)
Other long-term liabilities		(23	)
Total net assets transferred		4,083
Consideration received		5,063
Gain on sale recognized	$	980

Note 18 - Leases

12 Months Ended

Dec. 31, 2023

Lessee, Operating Leases [Text Block]

18.

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:

	Years Ended December 31,
	2023		2022
Amortization of ROU assets - finance leases	$	491	$	448
Interest on lease liabilities - finance leases		121		137
Operating lease cost (cost resulting from lease payments)		8,127		8,426
Short-term lease cost		207		201
Variable lease cost (cost excluded from lease payments)		397		410
Total lease cost	$	9,343	$	9,622

Supplemental cash flow information related to leases is as follows:

	Years Ended December 31,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,090	$	8,970
Operating cash flows from finance leases		121		137
Finance cash flows from finance leases		527		423
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		5,999		8,052
Finance leases		199		207

Supplemental balance sheet information related to leases was as follows:

	2023			2022
Operating Leases:
Operating lease right-of-use assets	$	20,481		$	21,551
Operating lease liability, current		6,350			5,870
Operating lease liability, long-term		14,212			15,742
Total operating lease liabilities	$	20,562		$	21,612

Finance Leases:
Property, plant and equipment, gross	$	3,484		$	3,096
Accumulated depreciation		(1,613	)		(1,089	)
Property, plant and equipment, net	$	1,871		$	2,007
Other current liabilities	$	485		$	446
Other long-term liabilities		1,539			1,608
Total finance lease liabilities	$	2,024		$	2,054

	2023			2022
Weighted-Average Remaining Lease Term:
Operating leases (in years)		4.3			5.1
Finance leases (in years)		4.3			4.9

Weighted-Average Discount Rate:
Operating leases		6.0	%		6.0	%
Finance leases		6.0	%		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, 2023:

Year Ending	Operating			Finance
December 31,	Leases			Leases
2024	$	6,658		$	705
2025		5,954			439
2026		4,381			411
2027		2,342			324
2028		1,240			263
Thereafter		1,976			4
Total undiscounted cash flows		22,551			2,146
Less imputed interest		(1,989	)		(234	)
Present value of lease liabilities	$	20,562		$	1,912

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unrecognized Tax Benefits	$ 19,823	$ 24,798	$ 28,434
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	3,500
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	400	600
Income Tax Expense (Benefit) on Reversal of Interest and Penalties	2,300	1,600
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	2,000	4,000
Income (Loss) from Continuing Operations before Income Taxes, Domestic	51,500	14,200
Income (Loss) from Continuing Operations before Income Taxes, Foreign	31,700	44,800
Deferred Tax Assets, Gross	26,017	24,125
Deferred Tax Assets, Operating Loss Carryforwards	4,303	4,316
Tax Credit Carryforward, Amount	600
Deferred Tax Assets, Tax Credit Carryforwards	600
Deferred Tax Assets, Valuation Allowance	2,009	$ 4,027
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	$ 4,000

Note 6 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative Asset	$ 4,446	$ 5,898
Long-Term Debt, Fair Value	60,000	95,000
Long-Term Debt, Gross	60,000	95,000
Fair Value, Nonrecurring [Member]
Assets, Fair Value Disclosure, Total	0	0
Foreign Exchange Forward [Member]
Derivative Assets (Liabilities), at Fair Value, Net	500	400
Interest Rate Swap [Member]
Derivative Asset	4,000	5,500
Investments Held in Rabbi Trust [Member]
Debt Securities, Available-for-Sale	$ 300	$ 100

Note 18 - Leases (Tables)

12 Months Ended

Dec. 31, 2023

Lease, Cost [Table Text Block]

	Years Ended December 31,
	2023		2022
Amortization of ROU assets - finance leases	$	491	$	448
Interest on lease liabilities - finance leases		121		137
Operating lease cost (cost resulting from lease payments)		8,127		8,426
Short-term lease cost		207		201
Variable lease cost (cost excluded from lease payments)		397		410
Total lease cost	$	9,343	$	9,622

	2023			2022
Weighted-Average Remaining Lease Term:
Operating leases (in years)		4.3			5.1
Finance leases (in years)		4.3			4.9

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

Leases, Supplemental Cash Flow Information [Table Text Block]

	Years Ended December 31,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,090	$	8,970
Operating cash flows from finance leases		121		137
Finance cash flows from finance leases		527		423
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		5,999		8,052
Finance leases		199		207

Lease, Supplemental Balance Sheet Information [Table Text Block]

	2023			2022
Operating Leases:
Operating lease right-of-use assets	$	20,481		$	21,551
Operating lease liability, current		6,350			5,870
Operating lease liability, long-term		14,212			15,742
Total operating lease liabilities	$	20,562		$	21,612

Finance Leases:
Property, plant and equipment, gross	$	3,484		$	3,096
Accumulated depreciation		(1,613	)		(1,089	)
Property, plant and equipment, net	$	1,871		$	2,007
Other current liabilities	$	485		$	446
Other long-term liabilities		1,539			1,608
Total finance lease liabilities	$	2,024		$	2,054

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

Year Ending	Operating			Finance
December 31,	Leases			Leases
2024	$	6,658		$	705
2025		5,954			439
2026		4,381			411
2027		2,342			324
2028		1,240			263
Thereafter		1,976			4
Total undiscounted cash flows		22,551			2,146
Less imputed interest		(1,989	)		(234	)
Present value of lease liabilities	$	20,562		$	1,912

Note 20 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2023

Comprehensive Income (Loss) Note [Text Block]

20.

ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of accumulated other comprehensive loss as of December 31, 2023 and 2022 are summarized below:

	December 31,
	2023			2022

Foreign currency translation adjustment, net of taxes of ($276) at December 31, 2023 and ($369) at December 31, 2022	$	(16,423	)	$	(23,107	)
Unrealized holding gains on interest rate swap cash flow hedge, net of taxes of $0 at December 31, 2023 and $0 at December 31, 2022		3,960			5,539
Unrealized holding gains on marketable securities, net of taxes of ($7) at December 31, 2023 and ($7) at December 31, 2022		19			18
Unfunded SERP liability, net of taxes of $718 at December 31, 2023 and $879 at December 31, 2022		407			1,004

Accumulated other comprehensive loss	$	(12,037	)	$	(16,546	)

Changes in accumulated other comprehensive (loss) income by component during the years ended December 31, 2023 and 2022 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, 2022	$	(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	)

Other comprehensive income (loss) before reclassifications		7,221			(1,579	)		1			(542	)			5,101
Amounts reclassified from accumulated other comprehensive income (loss)		(537	)		-			-			(55	)	(a)		(592	)
Net current period other comprehensive income (loss)		6,684			(1,579	)		1			(597	)			4,509

Balance at December 31, 2023	$	(16,423	)	$	3,960		$	19		$	407			$	(12,037	)

(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.

Note 11 - Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Text Block]

11.

DEBT

The Company has a Credit and Security Agreement with KeyBank National Association (as amended, the "credit agreement" or the "CSA"). The CSA provides a $175 million 5-year senior secured revolving credit facility ("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. Revolving loans borrowed under the CSA mature on September 1, 2026. At December 31, 2023 and 2022, outstanding borrowings under the revolver amounted to $60 million and $95.0 million, respectively. The unused credit available under the credit facility was $115 million at December 31, 2023 and $80.0 million at December 31, 2022. The Company incurred $2.9 million and $3.4 million of interest expense during the years ended December 31, 2023 and 2022, respectively, in connection with interest due on its outstanding borrowings under the CSA during each period, including the effects of the 2021 Swaps (as hereinafter defined) and amortization of deferred financing costs. During January 2023, the Company amended its CSA and related 2021 Swaps to transition the reference rate from LIBOR to SOFR effective January 31, 2023.

The interest rate in effect at December 31, 2023 was 2.47%. The weighted-average interest rate in effect for the variable-rate portion of our outstanding borrowings ($35.0 million at December 31, 2022) was 5.51% at December 31, 2022 and consisted of LIBOR plus the Company’s credit spread at December 31, 2022, as determined per the terms of the CSA. No outstanding borrowings were subject to a variable interest rate at December 31, 2023. In order to manage our interest rate exposure on the remaining borrowings, and as further described in Note 13, "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 SOFR portion (or, for periods prior to January 31, 2023, the LIBOR portion) of the interest rate on a portion of our outstanding debt on our Revolver (or such portion thereof up to the aggregate $60 million notional amount of the 2021 Swaps). In periods prior to January 31, 2023, the 2021 Swaps required 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. Effective January 31, 2023, in connection with the Company's transition of its reference rate from LIBOR to SOFR as further described in Recently Adopted Accounting Standards in Note 1, "Description of Business and Summary of Significant Accounting Policies", the 2021 Swaps require the Company to pay interest on the notional amount at the rate of 1.334% and 1.348%, respectively, in exchange for the daily SOFR rate plus 10 basis points. The effective rate of interest for our outstanding borrowings, including the impact of the 2021 Swaps, was 2.47% and 3.57%, respectively, as of December 31, 2023 and December 31, 2022.

Under the terms of its credit agreement, the Company is entitled, subject to the satisfaction of certain conditions, to request additional commitments under the 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 credit agreement provides that up to a U.S. Dollar equivalent principal amount of $15 million of the 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 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, guaranty of payment. As a result, the obligations of the Company under the 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 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 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 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 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 credit agreement for the purpose of transitioning its reference rate related to interest from LIBOR to SOFR.

Revolving loans borrowed under the credit agreement mature on September 1, 2026, and the commitments with respect to the revolver will automatically terminate on such date.

The credit agreement contains customary representations and warranties, covenants and events of default. In addition, the 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 credit agreement would be entitled to take various actions, including the acceleration of amounts due thereunder and all actions permitted to be taken by a secured creditor.

At December 31, 2023, the Company was in compliance with its debt covenants, including its most restrictive covenant, the Fixed Charge Coverage Ratio.

Scheduled principal payments of the total debt outstanding at December 31, 2023 are as follows (in thousands):

2024	$	-
2025		-
2026		60,000
2027		-
2028		-
Total long-term debt		60,000
Less: Current maturities of long-term debt		-
Noncurrent portion of long-term debt	$	60,000

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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Note 20 - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2023

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

	December 31,
	2023			2022

Foreign currency translation adjustment, net of taxes of ($276) at December 31, 2023 and ($369) at December 31, 2022	$	(16,423	)	$	(23,107	)
Unrealized holding gains on interest rate swap cash flow hedge, net of taxes of $0 at December 31, 2023 and $0 at December 31, 2022		3,960			5,539
Unrealized holding gains on marketable securities, net of taxes of ($7) at December 31, 2023 and ($7) at December 31, 2022		19			18
Unfunded SERP liability, net of taxes of $718 at December 31, 2023 and $879 at December 31, 2022		407			1,004

Accumulated other comprehensive loss	$	(12,037	)	$	(16,546	)

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, 2022	$	(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	)

Other comprehensive income (loss) before reclassifications		7,221			(1,579	)		1			(542	)			5,101
Amounts reclassified from accumulated other comprehensive income (loss)		(537	)		-			-			(55	)	(a)		(592	)
Net current period other comprehensive income (loss)		6,684			(1,579	)		1			(597	)			4,509

Balance at December 31, 2023	$	(16,423	)	$	3,960		$	19		$	407			$	(12,037	)

Note 1 - Description of Business and Summary of Significant Accounting Policies - Held to Maturity Securities (Details) - US Treasury Securities [Member] $ in Thousands	Dec. 31, 2023 USD ($)
Held to maturity U.S. Treasury securities, amortized cost	$ 37,548
Held to maturity U.S. Treasury securities, gross unrealized gains	103
Held to maturity U.S. Treasury securities, fair value	$ 37,651

Note 21 - Subsequent Events

12 Months Ended

Dec. 31, 2023

Subsequent Events [Text Block]

21.

SUBSEQUENT EVENTS

Share Repurchase Program Authorization

In February 2024, Bel's Board of Directors authorized the repurchase of up to $25.0 million in shares of the Company’s outstanding Class A common stock and Class B common stock (the "Repurchase Program"). The aggregate $25.0 million available for repurchases under the Repurchase Program has been suballocated for purchases of Class A shares and Class B shares in portions of $4.0 million and $21.0 million, respectively, prorated to take into account the number of outstanding shares of each respective class. Shares of common stock may be repurchased pursuant to the Repurchase Program in open market, privately negotiated or block transactions or otherwise from time to time, depending upon market conditions and other factors, and in accordance with applicable law and regulations of the Securities and Exchange Commission, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The exact number of shares to be repurchased by the Company, if any, is not guaranteed. Depending on market conditions and other factors, these repurchases may be commenced or suspended at any time or periodically without prior notice. The Company initiated its Share Repurchase program on March 1, 2024 and began making repurchases of both Class A and Class B common stock in the open market on that date.

Property Held for Sale

In January 2024, the Company began actively marketing its property located in Glen Rock, Pennsylvania. The net book value of this property was $0.8 million as of December 31, 2023.

Note 11 - Debt (Tables)

12 Months Ended

Dec. 31, 2023

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

2024	$	-
2025		-
2026		60,000
2027		-
2028		-
Total long-term debt		60,000
Less: Current maturities of long-term debt		-
Noncurrent portion of long-term debt	$	60,000

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	Item 9B. Other Information Other Information – Restructuring The discussion captioned “Overview – Key Factors Affecting our Business – Restructuring,” as set forth in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” above, is hereby incorporated by reference into this Part II, Item 9B, of this Annual Report on Form 10-K. Rule 10b5-1 Trading Arrangements and Non-Rule 10b5-1 Trading Arrangements During the fiscal quarter ended December 31, 2023, none of our officers or directors, as those terms are defined in Rule 16a-1(f), adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Item 408 of Regulation S-K.
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 1 - Description of Business and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Gain (Loss), Foreign Currency Transaction, before Tax	$ (1,356)	$ 278
Intangible Assets, Percent of Total Assets	8.60%	9.70%
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	0
Research and Development Expense	$ 22,487	$ 20,238
Common Class B [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.1	$ 0.1
Common Class A [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.1	$ 0.1
Other Current Assets [Member]
Asset, Held-for-Sale, Not Part of Disposal Group, Current	$ 1,300
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
Maximum [Member]
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

Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023