0001437749-24-024020 | 10-Q | XBRL Viewer

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

9.	ACCRUED EXPENSES

Accrued expenses consist of the following:

	June 30,		December 31,
	2024		2023
Salaries, bonuses and related benefits	$	22,370	$	33,566
Deferred revenue		2,320		3,046
Accrued restructuring costs		4,054		5,498
Sales commissions		2,377		2,347
Warranty accrual		1,659		1,542
Other		6,136		8,658
	$	38,916	$	54,657

The change in warranty accrual during the six months ended June 30, 2024 primarily related to repair costs incurred and adjustments to pre-existing warranties. There were no new material warranty charges incurred during the six months ended June 30, 2024.

Restructuring Activities:

Activity and liability balances related to restructuring costs for the six months ended June 30, 2024 are as follows:

			Six Months Ended
			June 30, 2024
	Liability at				Cash Payments			Liability at
	December 31,		New		and Other			June 30,
	2023		Charges		Settlements			2024
Severance costs	$	1,551	$	703	$	(2,045	)	$	209
Other restructuring costs		3,947		-		(102	)		3,845
Total	$	5,498	$	703	$	(2,147	)	$	4,054

The new charges and ending liability balance noted above for severance costs largely relate to an initiative within our Connectivity segment related to the transition of certain manufacturing from our Glen Rock, Pennsylvania facility to other existing Bel sites. The balances in other restructuring costs in the table above as of December 31, 2023 and June 30, 2024 largely related to remaining liabilities associated with the Company's facility consolidation project in the PRC whereby two of our Magnetic Solutions manufacturing sites were consolidated into a single new site.

Note 10 - Derivative Instruments and Hedging Activities - (Losses) Gains Recognized on Derivatives Instruments Not Designated as Hedging (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative instruments gain (loss)	$ 103	$ 34	$ 262	$ 34
Foreign Exchange Forward [Member] \| Nonoperating Income (Expense) [Member]
Derivative instruments gain (loss)	$ 103	$ 34	$ 262	$ 34

Note 2 - Investment in Innolectric (Details Textual) $ in Thousands, € in Millions			3 Months Ended		6 Months Ended
	Feb. 01, 2023 USD ($)	Feb. 01, 2023 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures			$ 9,943		$ 9,943			$ 10,282
Innolectric AG [Member]
Loans and Leases Receivable, Related Parties, Additions \| €				€ 0.2		€ 0.7
Loans and Leases Receivable, Related Parties			2,800		2,800		€ 2.6	$ 2,100	€ 2.0
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			$ (300)		$ (100)
Innolectric AG [Member]
Subsidiary, Ownership Percentage, Noncontrolling Owner	33.33%
Payments to Acquire Interest in Subsidiaries and Affiliates	$ 8,800	€ 8.0
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

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 84,976	$ 89,371
Held to maturity U.S. Treasury securities	58,822	37,548
Accounts receivable, net of allowance of $1,305 and $1,388, respectively	81,153	84,129
Inventories	127,931	136,540
Unbilled receivables	5,906	12,793
Other current assets	17,233	21,097
Total current assets	376,021	381,478
Property, plant and equipment, net	35,082	36,533
Right-of-use assets	21,945	20,481
Equity method investment	9,943	10,282
Intangible assets, net	46,715	49,391
Goodwill, net	25,415	26,642
Deferred income taxes	14,525	11,553
Other assets	35,173	33,119
Total assets	567,604	571,631
Current Liabilities:
Accounts payable	36,415	40,441
Accrued expenses	38,916	54,657
Operating lease liabilities, current	5,992	6,350
Other current liabilities	8,432	9,161
Total current liabilities	89,755	110,609
Long-term Liabilities:
Long-term debt	60,000	60,000
Operating lease liabilities, long-term	16,131	14,212
Liability for uncertain tax positions	17,953	19,823
Minimum pension obligation and unfunded pension liability	20,307	19,876
Deferred income taxes	1,626	1,456
Other long-term liabilities	5,417	5,097
Total liabilities	211,189	231,073
Commitments and contingencies (see Note 15)
Stockholders' Equity:
Preferred stock, no par value, 1,000,000 shares authorized; none issued	0	0
Treasury stock (unrestricted, consisting of 23,923 Class A shares and 232,242 Class B shares)	(14,629)	(454)
Additional paid-in capital	46,054	44,260
Retained earnings	340,462	307,510
Accumulated other comprehensive loss	(16,732)	(12,037)
Total stockholders' equity	356,415	340,558
Total liabilities and stockholders' equity	567,604	571,631
Common Class A [Member]
Stockholders' Equity:
Common stock	212	214
Common Class B [Member]
Stockholders' Equity:
Common stock	1,048	1,065
Related Party [Member]
Current Assets:
Related party note receivable	$ 2,785	$ 2,152

Note 13 - Retirement, Savings and Deferred Compensation Plans (Details Textual) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Supplemental Employee Retirement Plan [Member]
Deferred Compensation Arrangement with Individual, Compensation Expense	$ 0.1	$ 0.3	$ 0.2	$ 0.9
Bel Fuse Inc. Employees' Savings Plan [Member]
Defined Contribution Plan, Cost	$ 0.3	0.3	$ 0.9	0.7
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class A [Member]
Shares Held in Plan (in shares) \| shares	271,013		271,013
Bel Fuse Inc. Employees' Savings Plan [Member] \| Common Class B [Member]
Shares Held in Plan (in shares) \| shares	59,080		59,080
Nonqualified Deferred Compensation Plan [Member]
Deferred Compensation Arrangement, Vesting Age	65		65
Deferred Compensation Plan Assets	$ 1.2		$ 1.2		$ 1.0
Nonqualified Deferred Compensation Plan [Member] \| Maximum [Member]
Deferred Compensation Arrangement with Individual, Compensation Expense	$ 0.1	$ 0.1	$ 0.1	$ 0.1

Note 11 - Debt

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 and December 31, 2023, outstanding borrowings under the revolver amounted to $60 million at each date. The unused credit available under the credit facility was $115 million at each of June 30, 2024 and December 31, 2023. The Company incurred $0.4 million and $0.9 million of interest expense during the three months ended June 30, 2024 and 2023, respectively, and $0.8 million and $1.9 million during the six months ended June 30, 2024 and June 30, 2023, respectively, in connection with interest due on its outstanding borrowings under the CSA during each period, including the effects of the 2021 Swaps 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 June 30, 2024 and December 31, 2023 was 2.47% at each date. Our full debt balance at each of June 30, 2024 and December 31, 2023 was covered by the 2021 Swaps, as further described in Note 10, "Derivative Instruments and Hedging Activities". No outstanding borrowings were subject to a variable interest rate at June 30, 2024 or December 31, 2023.

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 June 30, 2024, the Company was in compliance with its debt covenants, including its most restrictive covenant, the Fixed Charge Coverage Ratio.

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 15 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	12 Months Ended	252 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2024	Dec. 31, 1994
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

Note 1 - Basis of Presentation and Accounting Policies

6 Months Ended

Jun. 30, 2024

Basis of Presentation and Significant Accounting Policies [Text Block]

1.	BASIS OF PRESENTATION AND ACCOUNTING POLICIES

The condensed consolidated balance sheets and statements of operations, comprehensive income, stockholders’ equity and cash flows for the periods presented herein have been prepared by the Company and are unaudited. In the opinion of management, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the consolidated financial position, results of operations and cash flows for all periods presented have been made. The results for the three and six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Bel Fuse Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

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

The Company’s significant accounting policies are summarized in Note 1 to the consolidated financial statements of the Company included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. There were no significant changes to these accounting policies during the six months ended June 30, 2024, except as discussed in “Recently Adopted Accounting Standards” below and as follows:

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 June 30, 2024:

		Amortized Cost				Gross Unrealized Gain				Fair Value
Held to maturity U.S. Treasury securities		$	58,822			$	384			$	59,206

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 June 30, 2024.

Investments

We account for non-marketable investments using the equity method of accounting if the investment gives us the ability to exercise significant influence over, but not control, of an investee. Significant influence generally exists if we have an ownership interest representing between 20% and 50% of the voting stock of the investee. Under the equity method of accounting, investments are stated at initial cost and are adjusted for subsequent additional investments and our proportionate share of earnings or losses and distributions.

Equity in earnings of unconsolidated affiliates, in the consolidated statements of operations, reflects our proportionate share of the investee's net income, including any associated affiliate taxes. Our proportionate share of the investee’s other comprehensive income (loss), net of income taxes, is recorded in the consolidated statements of stockholders’ equity and consolidated statements of comprehensive income. In general, the equity investment in our unconsolidated affiliates is equal to our original equity investment plus our share of those entities' undistributed earnings subsequent to our investment.

We evaluate our equity method investments for impairment at least annually or whenever events or changes in circumstances indicate, in management’s judgment, that the carrying value of an investment may have experienced an other-than-temporary decline in value. When evidence of loss in value has occurred, management compares the estimated fair value of the investment to the carrying value of the investment to determine whether an impairment has occurred. If the estimated fair value is less than the carrying value and management considers the decline in value to be other than temporary, the excess of the carrying value over the estimated fair value is recognized in the financial statements as an impairment. See Note 2, "Investment in Innolectric", below, for our discussion on specific equity method investments.

Where we are unable to exercise significant influence over the investee, or when our investment balance is reduced to zero from our proportionate share of losses, the investments are accounted for under the cost method. Under the cost method, investments are carried at cost and adjusted only for other-than-temporary declines in fair value, distributions of earnings, additional investments, or in the case of an observable price change in an orderly transaction for an identical security.

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

Recently Adopted Accounting Standards

In 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"). 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 (“ASU 2016-13”), as amended. The new guidance broadens the information that an entity must consider in developing its expected credit loss estimates related to its financial instruments and adds to U.S. GAAP an impairment model that is based on expected losses rather than incurred losses. 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 periods presented. We expect this ASU to only impact our disclosures with no impacts to our results of operations, cash flows, and financial condition.

Note 13 - Retirement, Savings and Deferred Compensation Plans

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Text Block]

13.

RETIREMENT, SAVINGS AND DEFERRED COMPENSATION PLANS

The Company maintains the Bel Fuse Inc. Employees’ Savings Plan, a defined contribution plan that is intended to meet the applicable requirements for tax-qualification under sections 401(a) and (k) of the Internal Revenue Code of 1986, as amended. The expense for the three months ended June 30, 2024 and 2023 amounted to $0.3 million in each period. The expense for the six months ended June 30, 2024 and 2023 amounted to $0.9 million and $0.7 million, respectively. The Company’s matching contribution is made in the form of Bel Fuse Inc. Class A common stock. As of June 30, 2024, the plan owned 271,013and 59,080 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 three months ended June 30, 2024 and 2023 amounted to less than $0.1 million during each period. The expense for the six months ended June 30, 2024 and 2023 amounted to $0.1 million during each period. As the plan is fully funded, the assets and liabilities related to the DCP were in equal amounts of $1.2 million at June 30, 2024 and $1.0 million at December 31, 2023. These amounts are included in other assets and other liabilities, respectively, on the accompanying condensed 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. The expense for the three months ended June 30, 2024 and 2023 amounted to $0.1 million and $0.3 million, respectively. The expense for the six months ended June 30, 2024 and 2023 amounted to $0.2 million and $0.9 million, respectively.

The Company maintains a SERP, which is designed to provide a limited group of key management and other key employees of the Company with supplemental retirement and death benefits. As discussed in Note 6 above, the Company has investments in a rabbi trust which are intended to fund the obligations of the SERP.

The components of SERP expense are as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Service cost	$	99	$	92	$	198	$	185
Interest cost		226		221		452		443
Net amortization		20		18		40		35
Net periodic benefit cost	$	345	$	331	$	690	$	663

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

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

	June 30,			December 31,
	2024			2023
Prior service cost	$	172		$	212
Net gain		(1,336	)		(1,336	)
	$	(1,164	)	$	(1,124	)

The entire disclosure for retirement benefits.

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-SubTopic 20
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-SubTopic 60
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Note 14 - Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

$ 346,657

$ 278,063

$ 340,558

$ 262,346

(1,275)

(1,428)

(4,695)

(310)

Accumulated Foreign Currency Adjustment Attributable to Parent [Member]

356,415

304,490

356,415

304,490

Other comprehensive (loss) income before reclassifications

(16,423)

(5,126)

Amount reclassified from accumulated other comprehensive loss

^[1]

351

(4,775)

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

(21,198)

Other comprehensive (loss) income before reclassifications

3,960

1,286

Amount reclassified from accumulated other comprehensive loss

^[1]

(1,237)

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

4,009

Other comprehensive (loss) income before reclassifications

Amount reclassified from accumulated other comprehensive loss

^[1]

Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]

Other comprehensive (loss) income before reclassifications

407

Amount reclassified from accumulated other comprehensive loss

^[1]

(31)

AOCI Attributable to Parent [Member]

437

Other comprehensive (loss) income before reclassifications

(15,457)

(15,428)

(12,037)

(16,546)

(3,778)

Amount reclassified from accumulated other comprehensive loss

^[1]

(917)

(4,695)

$ (16,732)

$ (16,856)

$ (16,732)

$ (16,856)

[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 income/expense, net on the accompanying condensed consolidated statements of operations.

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

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Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ 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, 2022															$ 237,188	$ (16,546)	$ 214	$ 1,067	$ (349)	$ 40,772	$ 262,346
Balance (in shares) at Dec. 31, 2022																	2,142	10,643
Net earnings															14,572	0	$ 0	$ 0	0	0	14,572
Cash dividends declared on common stock	$ (128)	$ 0	$ 0	$ 0	$ 0	$ 0	$ (128)	$ (747)	$ 0	$ 0	$ 0	$ 0	$ 0	$ (747)
Forfeiture of restricted common stock															0	0	$ 0	$ (1)	0		0
Forfeiture of restricted common stock (in shares)																	0	(10)
Forfeiture of restricted common stock															0	0	$ 0	$ (1)	0		0
Foreign currency translation adjustment, net of taxes															0	1,998	0	0	0	0	1,998
Unrealized holding gains on interest rate swap cash flow hedge, net of taxes															0	(894)	0	0	0	0	(894)
Unrealized holding gains on marketable securities, net of taxes															0	1	0	0	0	0	1
Stock-based compensation expense															0	0	0	0	0	902	902
Change in unfunded SERP liability, net of taxes															0	13	0	0	0	0	13
Net earnings															14,572	0	0	0	0	0	14,572
Forfeiture of restricted common stock															(0)	(0)	$ (0)	$ 1	(0)		(0)
Forfeiture of restricted common stock (in shares)																	0	(10)
Forfeiture of restricted common stock																				(1)
Forfeiture of restricted common stock																				1
Stock-based compensation expense															0	0	$ 0	$ 0	0	902	902
Change in unfunded SERP liability, net of taxes															0	13	0	0	0	0	13
Balance at Mar. 31, 2023															250,885	(15,428)	$ 214	$ 1,066	(349)	41,675	278,063
Balance (in shares) at Mar. 31, 2023																	2,142	10,633
Balance at Dec. 31, 2022															237,188	(16,546)	$ 214	$ 1,067	(349)	40,772	262,346
Balance (in shares) at Dec. 31, 2022																	2,142	10,643
Net earnings							6,790							35,557							42,347
Cash dividends declared on common stock							(257)							(1,490)
Foreign currency translation adjustment, net of taxes																					(233)
Unrealized holding gains on marketable securities, net of taxes																					1
Change in unfunded SERP liability, net of taxes																					27
Net earnings							6,790							35,557							42,347
Change in unfunded SERP liability, net of taxes																					27
Balance at Jun. 30, 2023															277,790	(16,856)	$ 214	$ 1,064	(349)	42,627	304,490
Balance (in shares) at Jun. 30, 2023																	2,142	10,638
Balance at Mar. 31, 2023															250,885	(15,428)	$ 214	$ 1,066	(349)	41,675	278,063
Balance (in shares) at Mar. 31, 2023																	2,142	10,633
Net earnings							4,458							23,317	27,775	0	$ 0	$ 0	0	0	27,775
Cash dividends declared on common stock	(128)	0	0	0	0	0	(128)	(742)	0	0	0	0	0	(742)
Issuance of restricted common stock															0	0	$ 0	$ 1	0	(1)	0
Issuance of restricted common stock (in shares)																	0	10
Forfeiture of restricted common stock															0	0	$ 0	$ (3)	0		0
Forfeiture of restricted common stock (in shares)																	0	(5)
Forfeiture of restricted common stock															0	0	$ 0	$ (3)	0		0
Foreign currency translation adjustment, net of taxes															0	(2,231)	0	0	0	0	(2,231)
Unrealized holding gains on interest rate swap cash flow hedge, net of taxes															0	789	0	0	0	0	789
Unrealized holding gains on marketable securities, net of taxes																					0
Stock-based compensation expense															0	0	0	0	0	950	950
Change in unfunded SERP liability, net of taxes															0	14	0	0	0	0	14
Net earnings							4,458							23,317	27,775	0	0	0	0	0	27,775
Forfeiture of restricted common stock															(0)	(0)	$ (0)	$ 3	(0)		(0)
Forfeiture of restricted common stock (in shares)																	0	(5)
Forfeiture of restricted common stock																				(3)
Forfeiture of restricted common stock																				3
Stock-based compensation expense															0	0	$ 0	$ 0	0	950	950
Change in unfunded SERP liability, net of taxes															0	14	0	0	0	0	14
Balance at Jun. 30, 2023															277,790	(16,856)	$ 214	$ 1,064	(349)	42,627	304,490
Balance (in shares) at Jun. 30, 2023																	2,142	10,638
Balance at Dec. 31, 2023															307,510	(12,037)	$ 214	$ 1,065	(454)	44,260	340,558
Balance (in shares) at Dec. 31, 2023																	2,142	10,620
Net earnings															15,874	0	$ 0	$ 0	0	0	15,874
Cash dividends declared on common stock	(129)	0	0	0	0	0	(129)	(747)	0	0	0	0	0	(747)
Issuance of restricted common stock															0	0	$ 0	$ 6	$ 0	$ (6)	0
Issuance of restricted common stock (in shares)																	0	58
Forfeiture of restricted common stock															0	0	$ 0	$ (6)			0
Forfeiture of restricted common stock (in shares)																	0	0	0	0
Forfeiture of restricted common stock															0	0	$ 0	$ (6)			0
Purchases of common stock															0	0	$ (1)	$ (10)	$ (6,283)		(6,283)
Purchases of common stock (in shares)																	(11)	(98)
Purchases of common stock																				$ 11
Foreign currency translation adjustment, net of taxes															0	(3,776)	$ 0	$ 0	0	0	(3,776)
Unrealized holding gains on interest rate swap cash flow hedge, net of taxes															0	340	0	0	0	0	340
Unrealized holding gains on marketable securities, net of taxes															0	1	0	0	0	0	1
Stock-based compensation expense															0	0	0	0	0	804	804
Change in unfunded SERP liability, net of taxes															0	15	0	0	0	0	15
Net earnings															15,874	0	0	0	$ 0	$ 0	15,874
Forfeiture of restricted common stock															(0)	(0)	$ (0)	$ 6			(0)
Forfeiture of restricted common stock (in shares)																	0	0	0	0
Purchases of common stock (in shares)																	11	98
Stock-based compensation expense															0	0	$ 0	$ 0	$ 0	$ 804	804
Change in unfunded SERP liability, net of taxes															0	15	0	0	0	0	15
Balance at Mar. 31, 2024															322,508	(15,457)	$ 213	$ 1,061	(6,737)	45,069	346,657
Balance (in shares) at Mar. 31, 2024																	2,131	10,574
Balance at Dec. 31, 2023															307,510	(12,037)	$ 214	$ 1,065	(454)	44,260	340,558
Balance (in shares) at Dec. 31, 2023																	2,142	10,620
Net earnings							5,573							29,107							34,680
Cash dividends declared on common stock							(256)							(1,472)
Foreign currency translation adjustment, net of taxes																					(4,775)
Unrealized holding gains on marketable securities, net of taxes																					1
Change in unfunded SERP liability, net of taxes																					30
Net earnings							5,573							29,107							34,680
Change in unfunded SERP liability, net of taxes																					30
Balance at Jun. 30, 2024															340,462	(16,732)	$ 212	$ 1,048	(14,629)	46,054	356,415
Balance (in shares) at Jun. 30, 2024																	2,121	10,453
Balance at Mar. 31, 2024															322,508	(15,457)	$ 213	$ 1,061	(6,737)	45,069	346,657
Balance (in shares) at Mar. 31, 2024																	2,131	10,574
Net earnings							3,028							15,778	18,806	0	$ 0	$ 0	0	0	18,806
Cash dividends declared on common stock	$ (127)	$ 0	$ 0	$ 0	$ 0	$ 0	(127)	$ (725)	$ 0	$ 0	$ 0	$ 0	$ 0	(725)
Forfeiture of restricted common stock															0	0	$ 0	$ (1)	0		(1)
Forfeiture of restricted common stock (in shares)																	0	(4)
Forfeiture of restricted common stock															0	0	$ 0	$ (1)	0		(1)
Purchases of common stock															0	0	$ (1)	$ (12)	(7,892)		(7,893)
Purchases of common stock (in shares)																	(10)	117
Purchases of common stock																				12
Foreign currency translation adjustment, net of taxes															0	(999)	$ 0	$ 0	0	0	(999)
Unrealized holding gains on interest rate swap cash flow hedge, net of taxes															0	(291)	0	0	0	0	(291)
Unrealized holding gains on marketable securities, net of taxes																					0
Stock-based compensation expense															0	0	0	0	0	971	971
Change in unfunded SERP liability, net of taxes															0	15	0	0	0	0	15
Net earnings							$ 3,028							$ 15,778	18,806	0	0	0	0	0	18,806
Forfeiture of restricted common stock															(0)	(0)	$ (0)	$ 1	(0)		1
Forfeiture of restricted common stock (in shares)																	0	(4)
Forfeiture of restricted common stock																				2
Purchases of common stock (in shares)																	10	(117)
Forfeiture of restricted common stock																				(2)
Stock-based compensation expense															0	0	$ 0	$ 0	0	971	971
Change in unfunded SERP liability, net of taxes															0	15	0	0	0	0	15
Balance at Jun. 30, 2024															$ 340,462	$ (16,732)	$ 212	$ 1,048	$ (14,629)	$ 46,054	$ 356,415
Balance (in shares) at Jun. 30, 2024																	2,121	10,453

Note 9 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Salaries, bonuses and related benefits	$ 22,370	$ 33,566
Deferred revenue	2,320	3,046
Accrued restructuring costs	4,054	5,498
Sales commissions	2,377	2,347
Warranty accrual	1,659	1,542
Other	6,136	8,658
Accrued Liabilities, Current	$ 38,916	$ 54,657

Note 3 - Divestiture of Subsidiary

6 Months Ended

Jun. 30, 2024

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 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 Connectivity's 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 12 - Income Taxes (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Unrecognized Tax Benefits	$ 18.0		$ 19.8
Unrecognized Tax Benefits, Reduction From Lapse of Applicable Statue of Limitations	2.7
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	0.2	$ 0.3
Deferred Tax Assets, Valuation Allowance	$ 1.1		$ 2.0

Note 6 - Fair Value Measurements - Fair Value Assets by Investment Category (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Member]
Assets, fair value	$ 84,976	$ 89,371
Cash and Cash Equivalents [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	22,201	31,188
Cash and Cash Equivalents [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, fair value	1,454	639
Other Current Assets [Member]
Assets, fair value	3,099	3,293
Other Current Assets [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	0	303
Other Current Assets [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, fair value	3,099	2,990
Cash [Member] \| Cash and Cash Equivalents [Member]
Assets, fair value	61,321	57,544
Cash [Member] \| Other Current Assets [Member]
Assets, fair value	0	0
Money Market Funds [Member] \| Cash and Cash Equivalents [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	22,201	31,188
Money Market Funds [Member] \| Other Current Assets [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	0	0
Money Market Funds, Rabbi Trust [Member] \| Cash and Cash Equivalents [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	0	0
Money Market Funds, Rabbi Trust [Member] \| Other Current Assets [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	0	303
Certificates of Deposit [Member] \| Cash and Cash Equivalents [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, fair value	1,454	639
Certificates of Deposit [Member] \| Other Current Assets [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, fair value	3,099	2,990
Reported Value Measurement [Member]
Assets, fair value	88,879	92,664
Reported Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	23,005	31,491
Reported Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, fair value	4,553	3,629
Reported Value Measurement [Member] \| Cash [Member]
Assets, fair value	61,321	57,544
Reported Value Measurement [Member] \| Money Market Funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	22,201	31,188
Reported Value Measurement [Member] \| Money Market Funds, Rabbi Trust [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	804	303
Reported Value Measurement [Member] \| Certificates of Deposit [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, fair value	4,553	3,629
Estimate of Fair Value Measurement [Member]
Assets, fair value	89,194	92,961
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	23,005	31,491
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, fair value	4,868	3,926
Estimate of Fair Value Measurement [Member] \| Cash [Member]
Assets, fair value	61,321	57,544
Estimate of Fair Value Measurement [Member] \| Money Market Funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	22,201	31,188
Estimate of Fair Value Measurement [Member] \| Money Market Funds, Rabbi Trust [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets, fair value	804	303
Estimate of Fair Value Measurement [Member] \| Certificates of Deposit [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets, fair value	$ 4,868	$ 3,926

Note 13 - Retirement, Savings and Deferred Compensation Plans - Components of SERP Expense (Details) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Service cost	$ 99	$ 92	$ 198	$ 185
Interest cost	226	221	452	443
Net amortization	20	18	40	35
Net periodic benefit cost	$ 345	$ 331	$ 690	$ 663

Note 5 - Earnings Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Text Block]

5.	EARNINGS PER SHARE

The following table sets forth the calculation of basic and diluted net earnings per common share under the two-class method for the three and six months ended June 30, 2024 and 2023:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023

Numerator:
Net earnings	$	18,806	$	27,775	$	34,680	$	42,347
Less dividends declared:
Class A		127		128		256		257
Class B		725		742		1,472		1,490
Undistributed earnings	$	17,954	$	26,905	$	32,952	$	40,600

Undistributed earnings allocation:
Class A undistributed earnings	$	2,901	$	4,330	$	5,317	$	6,533
Class B undistributed earnings		15,053		22,575		27,635		34,067
Total undistributed earnings	$	17,954	$	26,905	$	32,952	$	40,600

Net earnings allocation:
Class A net earnings	$	3,028	$	4,458	$	5,573	$	6,790
Class B net earnings		15,778		23,317		29,107		35,557
Net earnings	$	18,806	$	27,775	$	34,680	$	42,347

Denominator:
Weighted-average shares outstanding:
Class A		2,124		2,142		2,131		2,142
Class B		10,492		10,634		10,551		10,636

Net earnings per share:
Class A	$	1.43	$	2.08	$	2.61	$	3.17
Class B	$	1.50	$	2.19	$	2.76	$	3.34

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2024	Jul. 26, 2024
Document Information [Line Items]
Entity Central Index Key	0000729580
Entity Registrant Name	BEL FUSE INC /NJ
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock ($0.10 par value)
Trading Symbol	BELFB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		10,432,548
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		2,115,677

Note 4 - Revenue - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Contract assets - current (unbilled receivables)	$ 5,906	$ 12,793
Contract liabilities - current (deferred revenue)	$ 2,320	$ 3,046

Note 8 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Depreciation	$ 2.3	$ 2.2	$ 4.6	$ 4.2
Zhongshan, PRC [Member]
Asset, Held-for-Sale, Not Part of Disposal Group	$ 2.1		$ 2.1		$ 1.3

Note 16 - Segments - Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue	$ 133,205	$ 168,777	$ 261,295	$ 341,121
Gross Profit	$ 53,396	$ 55,537	$ 101,474	$ 109,201
Gross Profit %	40.10%	32.90%	38.80%	32.00%
Power Solutions and Protection Segment [Member]
Revenue	$ 58,551	$ 87,091	$ 118,798	$ 170,272
Gross Profit	$ 26,736	$ 31,124	$ 53,252	$ 60,804
Gross Profit %	45.70%	35.70%	44.80%	35.70%
Connectivity Solutions [Member]
Revenue	$ 57,822	$ 54,843	$ 112,107	$ 108,239
Gross Profit	$ 22,512	$ 20,512	$ 42,129	$ 38,708
Gross Profit %	38.90%	37.40%	37.60%	35.80%
Magnetic Solutions Segment [Member]
Revenue	$ 16,832	$ 26,843	$ 30,390	$ 62,610
Gross Profit	$ 4,442	$ 6,595	$ 6,616	$ 14,763
Gross Profit %	26.40%	24.60%	21.80%	23.60%
Corporate Segment [Member]
Revenue	$ 0	$ 0	$ 0	$ 0
Gross Profit	$ (294)	$ (2,694)	$ (523)	$ (5,074)

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

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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.

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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net earnings available to common stockholders	$ 18,806	$ 27,775	$ 34,680	$ 42,347
Other comprehensive loss:
Currency translation adjustment, net of taxes of $0, ($105), $26, and ($96), respectively	(999)	(2,231)	(4,775)	(233)
Unrealized (losses) gains on interest rate swap cash flow hedge, net of taxes of $0 in all periods presented	(291)	789	49	(105)
Unrealized holding gains on marketable securities, net of taxes of $0 in all periods presented	0	0	1	1
Change in unfunded SERP liability, net of taxes of ($4), ($4), ($9), and ($8), respectively	15	14	30	27
Other comprehensive loss	(1,275)	(1,428)	(4,695)	(310)
Comprehensive income	$ 17,531	$ 26,347	$ 29,985	$ 42,037

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

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

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Note 14 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Foreign currency translation adjustment, tax	$ (302)	$ (276)
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	$ 727	$ 718

Insider Trading Arrangements	3 Months Ended	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2024	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		Item 5. Other Information Rule 10b5-1 Trading Arrangements and Non-Rule 10b5-1 Trading Arrangements During the fiscal quarter ended June 30, 2024, 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 10 - Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Text Block]

10.

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 $18.8 million and $25.8 million as of June 30, 2024 and December 31, 2023, 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 loss in the consolidated balance sheet and are reclassified into the statement of operations within cost of goods sold in the period in which the hedged transaction affects earnings.

Interest Rate Swap Agreements

To partially mitigate risks associated with the variable interest rates on the revolver borrowings under the Company's credit agreement (as defined and described in Note 11, "Debt", below), in November 2021, we executed a pay-fixed, receive-variable interest rate swap agreement with each of two multinational financial institutions under which we, prior to the January 2023 amendment described below which transitioned the reference rate from LIBOR to SOFR, (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 (as amended to date, 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 the 2021 Swaps to transition the related reference rates in these agreements from LIBOR to SOFR, effective January 31, 2023. Under the amended 2021 Swaps, the Company is required 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 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 June 30, 2024 and December 31, 2023.

Derivative Financial Instruments in Cash Flow Hedging Relationships

The effects of derivative financial instruments designated as cash flow hedges on accumulated other comprehensive loss (“AOCL”) and on the condensed consolidated statements of operations for the three and six months ended June 30, 2024 and 2023 were as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2024			2023			2024			2023
Net (losses) gains recognized in AOCL:
Foreign currency forward contracts	$	(77	)	$	(1,091	)	$	(188	)	$	(1,452	)
Interest rate swap agreements		331			1,351			1,286			943
	$	254		$	260		$	1,098		$	(509	)

Net gains (losses) reclassified from AOCL to the consolidated statement of operations:
Foreign currency forward contracts	$	(83	)	$	(37	)	$	(351	)	$	114
Interest rate swap agreements		622			562			1,237			1,048
	$	539		$	525		$	886		$	1,162

The losses related to the foreign currency forward contracts are included as a component of currency translation adjustment on the accompanying condensed consolidated statements of comprehensive income for the six months ended June 30, 2024 and 2023.

Derivative Financial Instruments Not Designated as Hedging Instruments

Gains recognized on derivative financial instruments not designated as hedging instruments in our condensed consolidated statements of operations for the three and six months ended June 30, 2024 and 2023 were as follows:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
	Classification in Consolidated Statements of Operations	2024		2023		2024		2023
Foreign currency forward contracts	Other (expense)/income, net	$	103	$	34		262	$	34
		$	103	$	34	$	262	$	34

Note 4 - Revenue (Tables)

6 Months Ended

Jun. 30, 2024

Disaggregation of Revenue [Table Text Block]

	*Three Months Ended June 30, 2024*								*Six Months Ended June 30, 2024*
	*Power Solutions and Protection*		*Connectivity Solutions*		*Magnetic Solutions*		*Consolidated*		*Power Solutions and Protection*		*Connectivity Solutions*		*Magnetic Solutions*		*Consolidated*

*By Geographic Region:*
North America	$	39,197	$	45,380	$	7,350	$	91,927	$	78,746	$	89,264	$	13,473	$	181,483
Europe		14,610		11,242		1,118		26,970		30,943		20,678		2,334		53,955
Asia		4,744		1,200		8,364		14,308		9,109		2,165		14,583		25,857
	$	58,551	$	57,822	$	16,832	$	133,205	$	118,798	$	112,107	$	30,390	$	261,295

*By Sales Channel:*
Direct to customer	$	37,572	$	36,428	$	11,793	$	85,793	$	76,397	$	70,498	$	21,579	$	168,474
Through distribution		20,979		21,394		5,039		47,412		42,401		41,609		8,811		92,821
	$	58,551	$	57,822	$	16,832	$	133,205	$	118,798	$	112,107	$	30,390	$	261,295

	*Three Months Ended June 30, 2023*								*Six Months Ended June 30, 2023*
	*Power Solutions and Protection*		*Connectivity Solutions*		*Magnetic Solutions*		*Consolidated*		*Power Solutions and Protection*		*Connectivity Solutions*		*Magnetic Solutions*		*Consolidated*

*By Geographic Region:*
North America	$	64,121	$	44,233	$	11,345	$	119,699	$	126,921	$	87,245	$	21,700	$	235,866
Europe		15,907		9,561		2,666		28,134		29,507		17,962		5,431		52,900
Asia		7,063		1,049		12,832		20,944		13,844		3,032		35,479		52,355
	$	87,091	$	54,843	$	26,843	$	168,777	$	170,272	$	108,239	$	62,610	$	341,121

*By Sales Channel:*
Direct to customer	$	62,022	$	35,970	$	18,268	$	116,260	$	121,636	$	69,694	$	45,679	$	237,009
Through distribution		25,069		18,873		8,575		52,517		48,636		38,545		16,931		104,112
	$	87,091	$	54,843	$	26,843	$	168,777	$	170,272	$	108,239	$	62,610	$	341,121

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

	*June 30,*		*December 31,*
	*2024*		*2023*

Contract assets - current (unbilled receivables)	$	5,906	$	12,793
Contract liabilities - current (deferred revenue)	$	2,320	$	3,046

Note 16 - Segments (Details Textual)	6 Months Ended
Note 16 - Segments (Details Textual)	Jun. 30, 2024
Number of Industry in which Entity Operates	1
Number of Operating Segments	3
Number of Reportable Segments	3

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash, Cash Equivalents and Investments

		Amortized Cost				Gross Unrealized Gain				Fair Value
Held to maturity U.S. Treasury securities		$	58,822			$	384			$	59,206

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 June 30, 2024.

Investment, Policy [Policy Text Block]

Investments

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

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Standards

Accounting Standards Issued But Not Yet Adopted

Disclosure of accounting policy for investment in financial asset.

+ References + Details

Note 13 - Retirement, Savings and Deferred Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Net Benefit Costs [Table Text Block]

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Service cost	$	99	$	92	$	198	$	185
Interest cost		226		221		452		443
Net amortization		20		18		40		35
Net periodic benefit cost	$	345	$	331	$	690	$	663

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

	June 30,			December 31,
	2024			2023
Prior service cost	$	172		$	212
Net gain		(1,336	)		(1,336	)
	$	(1,164	)	$	(1,124	)

Note 16 - Segments (Tables)

6 Months Ended

Jun. 30, 2024

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

	Three Months Ended June 30, 2024
	Power Solutions			Connectivity			Magnetic
	and Protection			Solutions			Solutions			Corporate			Total
Revenue	$	58,551		$	57,822		$	16,832		$	-		$	133,205
Gross Profit		26,736			22,512			4,442			(294	)		53,396
Gross Profit %		45.7	%		38.9	%		26.4	%		nm			40.1	%

	Three Months Ended June 30, 2023
	Power Solutions			Connectivity			Magnetic
	and Protection			Solutions			Solutions			Corporate			Total
Revenue	$	87,091		$	54,843		$	26,843		$	-		$	168,777
Gross Profit		31,124			20,512			6,595			(2,694	)		55,537
Gross Profit %		35.7	%		37.4	%		24.6	%		nm			32.9	%

	Six Months Ended June 30, 2024
	Power Solutions			Connectivity			Magnetic
	and Protection			Solutions			Solutions			Corporate			Total
Revenue	$	118,798		$	112,107		$	30,390		$	-		$	261,295
Gross Profit		53,252			42,129			6,616			(523	)		101,474
Gross Profit %		44.8	%		37.6	%		21.8	%		nm			38.8	%

	Six Months Ended June 30, 2023
	Power Solutions			Connectivity			Magnetic
	and Protection			Solutions			Solutions			Corporate			Total
Revenue	$	170,272		$	108,239		$	62,610		$	-		$	341,121
Gross Profit		60,804			38,708			14,763			(5,074	)		109,201
Gross Profit %		35.7	%		35.8	%		23.6	%		nm			32.0	%

Note 6 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

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

	June 30, 2024
	Carrying value		Fair value		Cash and cash equivalents		Other Current Assets
Cash	$	61,321	$	61,321	$	61,321	$	-
Level 1:
Money market funds		22,201		22,201		22,201		-
Money market funds (Rabbi Trust)		804		804		-		-
Subtotal		23,005		23,005		22,201		-
Level 2:
Certificates of deposit and time deposits		4,553		4,868		1,454		3,099
Subtotal		4,553		4,868		1,454		3,099
Total	$	88,879	$	89,194	$	84,976	$	3,099

	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

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

	Balance Sheet Classification	June 30, 2024		December 31, 2023
Derivative assets:
Foreign currency forward contracts:
Designated as cash flow hedges	Other current assets	$	-	$	-
Non designated as hedging instruments	Other current assets		-		486
Interest rate swap agreements:
Designated as a cash flow hedge	Other assets		4,012		3,960
Total derivative assets		$	4,012	$	4,446

Derivative liabilities:
Foreign currency forward contracts:
Designated as cash flow hedges	Other current liabilities	$	232	$	5
Not designated as hedging instruments	Other current liabilities		292		-
Total derivative liabilities		$	524	$	5

Note 7 - Inventories

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Text Block]

7.	INVENTORIES

The components of inventories are as follows:

	June 30,		December 31,
	2024		2023
Raw materials	$	54,903	$	63,647
Work in progress		44,000		42,038
Finished goods		29,028		30,855
Inventories	$	127,931	$	136,540

Note 9 - Accrued Expenses - Activity and Liability Balances Related to Restructuring Costs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Liability, beginning balance	$ 5,498
New charges	703
Cash payment and other settlements	(2,147)
Liability, ending balance	4,054
Employee Severance [Member]
Liability, beginning balance	1,551
New charges	703
Cash payment and other settlements	(2,045)
Liability, ending balance	209
Other Restructuring [Member]
Liability, beginning balance	3,947
New charges	0
Cash payment and other settlements	(102)
Liability, ending balance	$ 3,845

Note 14 - Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2024

Comprehensive Income (Loss) Note [Text Block]

14.

ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of accumulated other comprehensive loss at June 30, 2024 and December 31, 2023 are summarized below:

	June 30,			December 31,
	2024			2023

Foreign currency translation adjustment, net of taxes of ($302) at June 30, 2024 and ($276) at December 31, 2023	$	(21,198	)	$	(16,423	)
Unrealized gains on interest rate swap cash flow hedge, net of taxes of $0 at June 30, 2024 and $0 at December 31, 2023		4,009			3,960
Unrealized holding gains on marketable securities, net of taxes of ($7) at June 30, 2024 and ($7) at December 31, 2023		20			19
Unfunded SERP liability, net of taxes of $727 at June 30, 2024 and $718 at December 31, 2023		437			407

Accumulated other comprehensive loss	$	(16,732	)	$	(12,037	)

Changes in accumulated other comprehensive loss by component during the six months ended June 30, 2024 are as set forth below. All amounts are net of tax:


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

Balance at December 31, 2023	$	(16,423	)	$	3,960		$	19	$	407			$	(12,037	)
Other comprehensive (loss) income before reclassifications		(5,126	)		1,286			1		61				(3,778	)
Amount reclassified from accumulated other comprehensive loss		351			(1,237	)		-		(31	)	(a)		(917	)
Net current period other comprehensive (loss) income		(4,775	)		49			1		30				(4,695	)

Balance at June 30, 2024	$	(21,198	)	$	4,009		$	20	$	437			$	(16,732	)

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

Note 4 - Revenue (Details Textual) $ in Millions	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Amount	$ 18.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Amount	$ 10.1
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	$ 3.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 15 - Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Text Block]

15.

COMMITMENTS AND CONTINGENCIES

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 rendered a judgment against BPS China in March 2024. BPS China filed an appeal in July 2024. The estimated liability related to this matter is approximately $12.0 million and has been included as a liability for uncertain tax positions on the accompanying condensed consolidated balance sheets at June 30, 2024 and December 31, 2023. As Bel is entitled to be fully indemnified in this matter per the terms of the stock purchase agreement with ABB, a corresponding other asset for indemnification is also included in other assets on the accompanying condensed consolidated balance sheets at June 30, 2024 and December 31, 2023.

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 entitled to be 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 June 30, 2024.

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 10 - Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jan. 31, 2023
Foreign Exchange Forward [Member]
Derivative, Notional Amount	$ 18.8	$ 25.8
The 2021 Swaps One [Member]
Derivative, Notional Amount	$ 30.0
Derivative, Fixed Interest Rate	1.3055%		1.334%
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%

Note 14 - Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2024

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

	June 30,			December 31,
	2024			2023

Foreign currency translation adjustment, net of taxes of ($302) at June 30, 2024 and ($276) at December 31, 2023	$	(21,198	)	$	(16,423	)
Unrealized gains on interest rate swap cash flow hedge, net of taxes of $0 at June 30, 2024 and $0 at December 31, 2023		4,009			3,960
Unrealized holding gains on marketable securities, net of taxes of ($7) at June 30, 2024 and ($7) at December 31, 2023		20			19
Unfunded SERP liability, net of taxes of $727 at June 30, 2024 and $718 at December 31, 2023		437			407

Accumulated other comprehensive loss	$	(16,732	)	$	(12,037	)

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


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

Balance at December 31, 2023	$	(16,423	)	$	3,960		$	19	$	407			$	(12,037	)
Other comprehensive (loss) income before reclassifications		(5,126	)		1,286			1		61				(3,778	)
Amount reclassified from accumulated other comprehensive loss		351			(1,237	)		-		(31	)	(a)		(917	)
Net current period other comprehensive (loss) income		(4,775	)		49			1		30				(4,695	)

Balance at June 30, 2024	$	(21,198	)	$	4,009		$	20	$	437			$	(16,732	)

Note 4 - Revenue

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Text Block]

4.	REVENUE

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

	*Three Months Ended June 30, 2024*								*Six Months Ended June 30, 2024*
	*Power Solutions and Protection*		*Connectivity Solutions*		*Magnetic Solutions*		*Consolidated*		*Power Solutions and Protection*		*Connectivity Solutions*		*Magnetic Solutions*		*Consolidated*

*By Geographic Region:*
North America	$	39,197	$	45,380	$	7,350	$	91,927	$	78,746	$	89,264	$	13,473	$	181,483
Europe		14,610		11,242		1,118		26,970		30,943		20,678		2,334		53,955
Asia		4,744		1,200		8,364		14,308		9,109		2,165		14,583		25,857
	$	58,551	$	57,822	$	16,832	$	133,205	$	118,798	$	112,107	$	30,390	$	261,295

*By Sales Channel:*
Direct to customer	$	37,572	$	36,428	$	11,793	$	85,793	$	76,397	$	70,498	$	21,579	$	168,474
Through distribution		20,979		21,394		5,039		47,412		42,401		41,609		8,811		92,821
	$	58,551	$	57,822	$	16,832	$	133,205	$	118,798	$	112,107	$	30,390	$	261,295

	*Three Months Ended June 30, 2023*								*Six Months Ended June 30, 2023*
	*Power Solutions and Protection*		*Connectivity Solutions*		*Magnetic Solutions*		*Consolidated*		*Power Solutions and Protection*		*Connectivity Solutions*		*Magnetic Solutions*		*Consolidated*

*By Geographic Region:*
North America	$	64,121	$	44,233	$	11,345	$	119,699	$	126,921	$	87,245	$	21,700	$	235,866
Europe		15,907		9,561		2,666		28,134		29,507		17,962		5,431		52,900
Asia		7,063		1,049		12,832		20,944		13,844		3,032		35,479		52,355
	$	87,091	$	54,843	$	26,843	$	168,777	$	170,272	$	108,239	$	62,610	$	341,121

*By Sales Channel:*
Direct to customer	$	62,022	$	35,970	$	18,268	$	116,260	$	121,636	$	69,694	$	45,679	$	237,009
Through distribution		25,069		18,873		8,575		52,517		48,636		38,545		16,931		104,112
	$	87,091	$	54,843	$	26,843	$	168,777	$	170,272	$	108,239	$	62,610	$	341,121

The balances of the Company’s contract assets and contract liabilities at June 30, 2024 and December 31, 2023 are as follows:

	*June 30,*		*December 31,*
	*2024*		*2023*

Contract assets - current (unbilled receivables)	$	5,906	$	12,793
Contract liabilities - current (deferred revenue)	$	2,320	$	3,046

The change in balance of our unbilled receivables from December 31, 2023 to June 30, 2024 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). Our deferred revenue balance at December 31, 2023 and June 30, 2024 primarily relates to customer prepayments on invoices, which will be recorded as revenue in the period in which the related finished goods are shipped to the customer.

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 June 30, 2024 related to contracts that exceed one year in duration amounted to $18.4 million, with expected contract expiration dates that range largely from 2025 – 2026. It is expected that $10.1 million of this aggregate amount will be recognized in 2025, $3.8 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 June 30, 2024 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.

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Note 10 - Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2024

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2024			2023			2024			2023
Net (losses) gains recognized in AOCL:
Foreign currency forward contracts	$	(77	)	$	(1,091	)	$	(188	)	$	(1,452	)
Interest rate swap agreements		331			1,351			1,286			943
	$	254		$	260		$	1,098		$	(509	)

Net gains (losses) reclassified from AOCL to the consolidated statement of operations:
Foreign currency forward contracts	$	(83	)	$	(37	)	$	(351	)	$	114
Interest rate swap agreements		622			562			1,237			1,048
	$	539		$	525		$	886		$	1,162

Derivatives Not Designated as Hedging Instruments [Table Text Block]

		Three Months Ended				Six Months Ended
		June 30,				June 30,
	Classification in Consolidated Statements of Operations	2024		2023		2024		2023
Foreign currency forward contracts	Other (expense)/income, net	$	103	$	34		262	$	34
		$	103	$	34	$	262	$	34

Note 9 - Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Accrued Liabilities [Table Text Block]

	June 30,		December 31,
	2024		2023
Salaries, bonuses and related benefits	$	22,370	$	33,566
Deferred revenue		2,320		3,046
Accrued restructuring costs		4,054		5,498
Sales commissions		2,377		2,347
Warranty accrual		1,659		1,542
Other		6,136		8,658
	$	38,916	$	54,657

Restructuring and Related Costs [Table Text Block]

			Six Months Ended
			June 30, 2024
	Liability at				Cash Payments			Liability at
	December 31,		New		and Other			June 30,
	2023		Charges		Settlements			2024
Severance costs	$	1,551	$	703	$	(2,045	)	$	209
Other restructuring costs		3,947		-		(102	)		3,845
Total	$	5,498	$	703	$	(2,147	)	$	4,054

Note 5 - Earnings Per Share - Basic and Diluted Net Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Net earnings	$ 18,806	$ 15,874	$ 27,775	$ 14,572	$ 34,680	$ 42,347
Undistributed earnings	17,954		26,905		32,952	40,600
Common Class A [Member]
Net earnings	3,028		4,458		5,573	6,790
Less dividends declared	127	129	128	128	256	257
Undistributed earnings	$ 2,901		$ 4,330		$ 5,317	$ 6,533
Class A - basic and diluted (in shares)	2,124		2,142		2,131	2,142
Net earnings per common share - basic and diluted (in dollars per share)	$ 1.43		$ 2.08		$ 2.61	$ 3.17
Common Class B [Member]
Net earnings	$ 15,778		$ 23,317		$ 29,107	$ 35,557
Less dividends declared	725	$ 747	742	$ 747	1,472	1,490
Undistributed earnings	$ 15,053		$ 22,575		$ 27,635	$ 34,067
Class A - basic and diluted (in shares)	10,492		10,634		10,551	10,636
Net earnings per common share - basic and diluted (in dollars per share)	$ 1.5		$ 2.19		$ 2.76	$ 3.34

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

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

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance for doubtful accounts	$ 1,305	$ 1,388
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)	2,120,989	2,141,589
Common stock, treasury shares (in shares)	23,923	23,923
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)	10,453,469	10,620,260
Common stock, treasury shares (in shares)	232,242	232,242
Common Class B [Member] \| Restricted Stock [Member]
Common stock, treasury shares (in shares)	3,218,307	3,218,307

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Foreign currency translation adjustment, tax expense	$ 0	$ 26	$ (105)	$ 9	$ 26	$ (96)
Unrealized losses on interest rate swap cash flow hedge, tax	0	0	0	0	0	0
Unrealized holding losses on marketable securities arising during the period, tax	0	0	0	0	0	0
Change in unfunded SERP liability, tax	$ (4)	$ (4)	$ (4)	$ (4)	$ (9)	$ (8)

Note 2 - Investment in Innolectric

6 Months Ended

Jun. 30, 2024

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 condensed 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 Solutions and Protection segment and amounted to losses of $0.3 million and $0.1 during the three and six months ended June 30, 2024, respectively. 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 the three and six months ended June 30, 2024, the Company provided incremental loans to innolectric in the amount of €0.2 million and €0.7 million, respectively. As of June 30, 2024 and December 31, 2023, the Company had loans outstanding to innolectric in the aggregate amount of €2.6 million (approximately $2.8 million at the June 30, 2024 exchange rate) and €2.0 million (approximately $2.1 million at the December 31, 2023 exchange rate), respectively. These loans bear interest at a rate of 5% per annum. This balance is shown as a related-party note receivable on the accompanying condensed consolidated balance sheet at June 30, 2024 and December 31, 2023.

Note 16 - Segments

6 Months Ended

Jun. 30, 2024

Segment Reporting Disclosure [Text Block]

16.

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

	Three Months Ended June 30, 2024
	Power Solutions			Connectivity			Magnetic
	and Protection			Solutions			Solutions			Corporate			Total
Revenue	$	58,551		$	57,822		$	16,832		$	-		$	133,205
Gross Profit		26,736			22,512			4,442			(294	)		53,396
Gross Profit %		45.7	%		38.9	%		26.4	%		nm			40.1	%

	Three Months Ended June 30, 2023
	Power Solutions			Connectivity			Magnetic
	and Protection			Solutions			Solutions			Corporate			Total
Revenue	$	87,091		$	54,843		$	26,843		$	-		$	168,777
Gross Profit		31,124			20,512			6,595			(2,694	)		55,537
Gross Profit %		35.7	%		37.4	%		24.6	%		nm			32.9	%

	Six Months Ended June 30, 2024
	Power Solutions			Connectivity			Magnetic
	and Protection			Solutions			Solutions			Corporate			Total
Revenue	$	118,798		$	112,107		$	30,390		$	-		$	261,295
Gross Profit		53,252			42,129			6,616			(523	)		101,474
Gross Profit %		44.8	%		37.6	%		21.8	%		nm			38.8	%

	Six Months Ended June 30, 2023
	Power Solutions			Connectivity			Magnetic
	and Protection			Solutions			Solutions			Corporate			Total
Revenue	$	170,272		$	108,239		$	62,610		$	-		$	341,121
Gross Profit		60,804			38,708			14,763			(5,074	)		109,201
Gross Profit %		35.7	%		35.8	%		23.6	%		nm			32.0	%

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.

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Note 7 - Inventories (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Inventory, Current [Table Text Block]

	June 30,		December 31,
	2024		2023
Raw materials	$	54,903	$	63,647
Work in progress		44,000		42,038
Finished goods		29,028		30,855
Inventories	$	127,931	$	136,540

Note 3 - Divestiture of Subsidiary (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2024	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 6 - Fair Value Measurements

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Text Block]

6.	FAIR VALUE MEASUREMENTS

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

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

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

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

	June 30, 2024
	Carrying value		Fair value		Cash and cash equivalents		Other Current Assets
Cash	$	61,321	$	61,321	$	61,321	$	-
Level 1:
Money market funds		22,201		22,201		22,201		-
Money market funds (Rabbi Trust)		804		804		-		-
Subtotal		23,005		23,005		22,201		-
Level 2:
Certificates of deposit and time deposits		4,553		4,868		1,454		3,099
Subtotal		4,553		4,868		1,454		3,099
Total	$	88,879	$	89,194	$	84,976	$	3,099

	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

As of June 30, 2024 and December 31, 2023, 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 $0.8 million at June 30, 2024 and $0.3 million at December 31, 2023.

Throughout 2024 and 2023, the Company entered into a series of foreign currency forward contracts, the fair value of which was ($0.5) million at June 30, 2024 and $0.5 million at December 31, 2023. 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 10, "Derivative Instruments and Hedging Activities". The fair value of the interest rate swap agreements was $4.0 million at June 30, 2024 and $4.0 million at December 31, 2023, which was based on market data, 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 and their classifications in our condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023 were as follows:

	Balance Sheet Classification	June 30, 2024		December 31, 2023
Derivative assets:
Foreign currency forward contracts:
Designated as cash flow hedges	Other current assets	$	-	$	-
Non designated as hedging instruments	Other current assets		-		486
Interest rate swap agreements:
Designated as a cash flow hedge	Other assets		4,012		3,960
Total derivative assets		$	4,012	$	4,446

Derivative liabilities:
Foreign currency forward contracts:
Designated as cash flow hedges	Other current liabilities	$	232	$	5
Not designated as hedging instruments	Other current liabilities		292		-
Total derivative liabilities		$	524	$	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 the six months ended June 30, 2024 or June 30, 2023. There were no changes to the Company’s valuation techniques used to measure asset fair values on a recurring or nonrecurring basis during the six months ended June 30, 2024 or June 30, 2023.

There were no financial assets accounted for at fair value on a nonrecurring basis as of June 30, 2024 or December 31, 2023.

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 June 30, 2024 and December 31, 2023, the estimated fair value of total debt was $60.0 million at each date, compared to a carrying amount of $60.0 million at each date. The Company did not have any other financial liabilities within the scope of the fair value disclosure requirements as of June 30, 2024.

Nonfinancial assets and liabilities, such as goodwill, indefinite-lived intangible assets, long-lived assets and the net liability related to the put/call options pursuant to the innolectric investment agreement, 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. Based on the Company's assessment, it was concluded that no triggering events occurred during the six months ended June 30, 2024 or June 30, 2023.

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.

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Note 10 - Derivative Instruments and Hedging Activities - Derivative Financial Instruments Effects on Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net (losses) gains recognized in AOCL	$ 254	$ 260	$ 1,098	$ (509)
Net losses reclassified from AOCL to the consolidated statement of operations	539	525	886	1,162
Foreign Exchange Forward [Member]
Net (losses) gains recognized in AOCL	(77)	(1,091)	(188)	(1,452)
Net losses reclassified from AOCL to the consolidated statement of operations	(83)	(37)	(351)	114
Interest Rate Swap [Member]
Net (losses) gains recognized in AOCL	331	1,351	1,286	943
Net losses reclassified from AOCL to the consolidated statement of operations	$ 622	$ 562	$ 1,237	$ 1,048

Note 12 - Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Text Block]

12.

INCOME TAXES

The Company's estimated taxable income in future periods is not on a legal entity basis and therefore income tax expense for the interim period is not measured using the annual effective tax rate ("AETR") method. The Company 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.

As a result of the expiration of the statutes of limitations for specific jurisdictions, it is reasonably possible that the related unrecognized benefits for tax positions taken regarding previously filed tax returns may change materially from those recorded as liabilities for uncertain tax positions in the Company’s condensed consolidated financial statements at June 30, 2024. The Company’s liabilities for uncertain tax positions totaled $18.0 million at June 30, 2024 and $19.8 million at December 31, 2023, of which $2.7 million was resolved during the six months ended June 30, 2024 by way of expiration of the related statute of limitations. These remaining amounts, if recognized, would reduce the Company’s effective tax rate.

The Company’s policy is to recognize interest and penalties related to uncertain tax positions as a component of the current provision for income taxes. During the six months ended June 30, 2024 and 2023, the Company recognized $0.2 million and $0.3 million, in each period, of interest and penalties in the condensed consolidated statements of operations. The Company has approximately $1.1 million and $2.0 million accrued for the payment of interest and penalties at June 30, 2024 and December 31, 2023, respectively, which is included in liability for uncertain tax positions in the condensed consolidated balance sheets.

The entire disclosure for income tax.

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Note 7 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Raw materials	$ 54,903	$ 63,647
Work in progress	44,000	42,038
Finished goods	29,028	30,855
Inventories	$ 127,931	$ 136,540

Note 5 - Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2024

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023

Numerator:
Net earnings	$	18,806	$	27,775	$	34,680	$	42,347
Less dividends declared:
Class A		127		128		256		257
Class B		725		742		1,472		1,490
Undistributed earnings	$	17,954	$	26,905	$	32,952	$	40,600

Undistributed earnings allocation:
Class A undistributed earnings	$	2,901	$	4,330	$	5,317	$	6,533
Class B undistributed earnings		15,053		22,575		27,635		34,067
Total undistributed earnings	$	17,954	$	26,905	$	32,952	$	40,600

Net earnings allocation:
Class A net earnings	$	3,028	$	4,458	$	5,573	$	6,790
Class B net earnings		15,778		23,317		29,107		35,557
Net earnings	$	18,806	$	27,775	$	34,680	$	42,347

Denominator:
Weighted-average shares outstanding:
Class A		2,124		2,142		2,131		2,142
Class B		10,492		10,634		10,551		10,636

Net earnings per share:
Class A	$	1.43	$	2.08	$	2.61	$	3.17
Class B	$	1.50	$	2.19	$	2.76	$	3.34

Note 3 - Divestiture of Subsidiary - Assets and Liabilities Included in Sale (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 01, 2023
Gain on sale recognized	$ 0	$ 1,115	$ 0	$ 1,115
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] \| Bel Stewart s.r.o. [Member]
Cash and cash equivalents	2,072		2,072
Accounts receivable	1,030		1,030
Inventories	1,310		1,310
Property, plant and equipment	326		326
Other assets	48		48
Accounts payable	441		441
Accrued expenses	126		126
Income taxes payable	100		100
Other current liabilities	13		13
Other long-term liabilities	23		23
Total net assets transferred	4,083		4,083
Consideration received	$ 5,063		5,063		$ 5,100
Gain on sale recognized			$ 980

Note 3 - Divestiture of Subsidiary (Tables)

6 Months Ended

Jun. 30, 2024

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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Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Common Class A [Member]
Dividends declared (in dollars per share)	$ 0.06	$ 0.06	$ 0.06	$ 0.06
Common Class B [Member]
Dividends declared (in dollars per share)	$ 0.07	$ 0.07	$ 0.07	$ 0.07
Foreign currency translation adjustment, tax expense	$ 0	$ 26	$ (105)	$ 9
Unrealized losses on interest rate swap cash flow hedge, tax	0	0	0	0
Unrealized holding losses on marketable securities arising during the period, tax	0	0	0	0
Change in unfunded SERP liability, tax	$ (4)	$ (4)	$ (4)	$ (4)

Note 8 - Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Table Text Block]

	June 30,			December 31,
	2024			2023
Land	$	117		$	348
Buildings and improvements		12,945			15,286
Machinery and equipment		98,439			98,527
Construction in progress		1,507			1,567
		113,008			115,728
Accumulated depreciation		(77,926	)		(79,195	)
Property, plant and equipment, net	$	35,082		$	36,533

Note 8 - Property, Plant and Equipment

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment Disclosure [Text Block]

8.	PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	June 30,			December 31,
	2024			2023
Land	$	117		$	348
Buildings and improvements		12,945			15,286
Machinery and equipment		98,439			98,527
Construction in progress		1,507			1,567
		113,008			115,728
Accumulated depreciation		(77,926	)		(79,195	)
Property, plant and equipment, net	$	35,082		$	36,533

Depreciation expense was $2.3 million and $2.2 million, respectively, for the three months ended June 30, 2024 and 2023 and $4.6 million and $4.2 million, respectively, for the six months ended June 30, 2024 and 2023. Depreciation expense related to our manufacturing facilities and equipment is included in cost of sales and depreciation expense associated with administrative facilities and office equipment is included in selling, general and administrative expense within the accompanying condensed consolidated statements of operations.

At June 30, 2024, a total of $2.1 million of property was classified as assets held for sale within other current assets on the accompanying condensed consolidated balance sheets related to property in Glen Rock, Pennsylvania and several buildings in Zhongshan, PRC. 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 condensed consolidated balance sheets related solely to the buildings in Zhongshan, PRC.

Note 14 - Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Foreign currency translation adjustment, net of taxes of ($302) at June 30, 2024 and ($276) at December 31, 2023	$ (21,198)	$ (16,423)
Unrealized gains on interest rate swap cash flow hedge, net of taxes of $0 at June 30, 2024 and $0 at December 31, 2023	4,009	3,960
Unrealized holding gains on marketable securities, net of taxes of ($7) at June 30, 2024 and ($7) at December 31, 2023	20	19
Unfunded SERP liability, net of taxes of $727 at June 30, 2024 and $718 at December 31, 2023	437	407
Accumulated other comprehensive loss	$ (16,732)	$ (12,037)

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

+ References + Details

Note 11 - Debt (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		18 Months Ended
Note 11 - Debt (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Revolving Credit Facility [Member]
Long-Term Line of Credit	$ 60,000		$ 60,000		$ 60,000		$ 60,000
Credit and Security Agreement with KeyBank [Member]
Interest Expense, Debt	400	$ 900	800	$ 1,900
Debt, Weighted Average Interest Rate						2.47%
Long-Term Debt, Percentage Bearing Variable Interest, Amount						$ 0
Credit and Security Agreement with KeyBank [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	175,000		175,000		$ 175,000
Debt Instrument, Term (Year)					5 years
Line of Credit Facility, Maximum Letters of Credit Capacity	10,000		10,000		$ 10,000
Line of Credit Facility, Maximum Swing Line Loan Capacity	5,000		5,000		5,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 115,000		$ 115,000		$ 115,000		$ 115,000

Note 6 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative Asset	$ 4,012	$ 4,446
Long-Term Debt, Fair Value	60,000
Long-Term Debt, Gross		60,000
Fair Value, Nonrecurring [Member]
Assets, Fair Value Disclosure, Total	0	0
Foreign Exchange Forward [Member]
Derivative Assets (Liabilities), at Fair Value, Net	500	500
Interest Rate Swap [Member]
Derivative Asset	4,000	4,000
Investments Held in Rabbi Trust [Member]
Debt Securities, Available-for-Sale	$ 800	$ 300

Note 1 - Basis of Presentation and Accounting Policies - Held to Maturity Securities (Details) - US Treasury Securities [Member] $ in Thousands	Jun. 30, 2024 USD ($)
Held to maturity U.S. Treasury securities, amortized cost	$ 58,822
Held to maturity U.S. Treasury securities, gross unrealized gains	384
Held to maturity U.S. Treasury securities, fair value	$ 59,206

Note 1 - Basis of Presentation and Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

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

		Amortized Cost				Gross Unrealized Gain				Fair Value
Held to maturity U.S. Treasury securities		$	58,822			$	384			$	59,206

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

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Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net sales	$ 133,205	$ 168,777	$ 261,295	$ 341,121
Cost of sales	79,809	113,240	159,821	231,920
Gross profit	53,396	55,537	101,474	109,201
Research and development costs	5,994	6,006	11,209	11,229
Selling, general and administrative expenses	24,141	25,135	49,085	50,432
Restructuring charges	638	709	703	4,215
Gain on sale of property	0	(3,672)	0	(3,672)
Income from operations	22,623	27,359	40,477	46,997
Gain on sale of Czech Republic business	0	1,115	0	1,115
Interest expense	(415)	(908)	(849)	(1,890)
Interest income	1,146	0	2,261	0
Other (expense)/income, net	(471)	(270)	1,346	(190)
Earnings before provision for income taxes	22,883	27,296	43,235	46,032
Provision for (benefit from) income taxes	4,077	(479)	8,555	3,685
Net earnings available to common stockholders	18,806	27,775	34,680	42,347
Common Class A [Member]
Net earnings available to common stockholders	$ 3,028	$ 4,458	$ 5,573	$ 6,790
Net earnings per common share:
Net earnings per common share - basic and diluted (in dollars per share)	$ 1.43	$ 2.08	$ 2.61	$ 3.17
Weighted-average number of shares outstanding:
Weighted-average number of shares outstanding - basic and diluted (in shares)	2,124	2,142	2,131	2,142
Common Class B [Member]
Net earnings available to common stockholders	$ 15,778	$ 23,317	$ 29,107	$ 35,557
Net earnings per common share:
Net earnings per common share - basic and diluted (in dollars per share)	$ 1.5	$ 2.19	$ 2.76	$ 3.34
Weighted-average number of shares outstanding:
Weighted-average number of shares outstanding - basic and diluted (in shares)	10,492	10,634	10,551	10,636

Note 4 - Revenue - Disaggregation of Revenue by Product Group and Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net sales	$ 133,205	$ 168,777	$ 261,295	$ 341,121
Sales Channel, Directly to Consumer [Member]
Net sales	85,793	116,260	168,474	237,009
Sales Channel, Through Intermediary [Member]
Net sales	47,412	52,517	92,821	104,112
Power Solutions and Protection [Member]
Net sales	58,551	87,091	118,798	170,272
Power Solutions and Protection [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	37,572	62,022	76,397	121,636
Power Solutions and Protection [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	20,979	25,069	42,401	48,636
Connectivity Solutions [Member]
Net sales	57,822	54,843	112,107	108,239
Connectivity Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	36,428	35,970	70,498	69,694
Connectivity Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	21,394	18,873	41,609	38,545
Magnetic Solutions [Member]
Net sales	16,832	26,843	30,390	62,610
Magnetic Solutions [Member] \| Sales Channel, Directly to Consumer [Member]
Net sales	11,793	18,268	21,579	45,679
Magnetic Solutions [Member] \| Sales Channel, Through Intermediary [Member]
Net sales	5,039	8,575	8,811	16,931
North America [Member]
Net sales	91,927	119,699	181,483	235,866
North America [Member] \| Power Solutions and Protection [Member]
Net sales	39,197	64,121	78,746	126,921
North America [Member] \| Connectivity Solutions [Member]
Net sales	45,380	44,233	89,264	87,245
North America [Member] \| Magnetic Solutions [Member]
Net sales	7,350	11,345	13,473	21,700
Europe [Member]
Net sales	26,970	28,134	53,955	52,900
Europe [Member] \| Power Solutions and Protection [Member]
Net sales	14,610	15,907	30,943	29,507
Europe [Member] \| Connectivity Solutions [Member]
Net sales	11,242	9,561	20,678	17,962
Europe [Member] \| Magnetic Solutions [Member]
Net sales	1,118	2,666	2,334	5,431
Asia [Member]
Net sales	14,308	20,944	25,857	52,355
Asia [Member] \| Power Solutions and Protection [Member]
Net sales	4,744	7,063	9,109	13,844
Asia [Member] \| Connectivity Solutions [Member]
Net sales	1,200	1,049	2,165	3,032
Asia [Member] \| Magnetic Solutions [Member]
Net sales	$ 8,364	$ 12,832	$ 14,583	$ 35,479