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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]    
Net sales $ 364,244,000 $ 295,518,000
Cost of goods sold 256,417,000 206,393,000
Gross profit 107,827,000 89,125,000
Operating expenses:    
Selling expenses 32,261,000 22,186,000
General and administrative expenses (including $2.5 million and $2.0 million associated with variable interest entity for the years ended December 31, 2021 and 2020, respectively) 52,421,000 39,242,000
Total operating expenses 84,682,000 61,428,000
Operating income 23,145,000 27,697,000
Other income (expenses)    
Rental income (including $0.9 million and $0.3 million associated with variable interest entity for the years ended December 31, 2021 and 2020, respectively) 931,000 322,000
Other income 259,000 72,000
Loss on foreign currency transactions (412,000) (688,000)
Gain on sale of asset 0 16,000
Interest expense, net (including $0.5 million and $2.9 million associated with variable interest entity for the years ended December 31, 2021 and 2020, respectively) (1,395,000) (5,492,000)
Gain on forgiveness of debt 5,000,000 0
Total other income (expenses) 4,383,000 (5,770,000)
Income before provision for income taxes 27,528,000 21,927,000
Provision for income taxes 5,089,000 5,259,000
Net income 22,439,000 16,668,000
Net income (loss) attributable to noncontrolling interest 1,661,000 (849,000)
Net income attributable to Karat Packaging Inc. $ 20,778,000 $ 17,517,000
Basic and diluted earnings per share:    
Basic (in dollars per share) $ 1.13 $ 1.15
Diluted (in dollars per share) $ 1.12 $ 1.13
Weighted average common shares outstanding, basic (in shares) 18,409,243 15,176,809
Weighted average common shares outstanding, diluted (in shares) 18,566,260 15,447,809