Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Changes in the Allowance for Doubtful Accounts

The following table presents our allowance for doubtful accounts activity for the periods indicated (in thousands):


	December 31,
	2021		2020		2019

Balance at beginning of period	$	114	$	141	$	153
Charges to costs and expenses	—		—		26
Deductions	(6)		(27)		(38)
Balance at end of period	$	108	$	114	$	141

Summary of Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the consolidated balance sheets that totals to the amounts shown in the consolidated statements of cash flows at the dates indicated (in thousands):


	December 31,
	2021		2020

Cash and cash equivalents	$	97,825	$	39,293
Restricted cash:
Collateral for outstanding letters of credit (1)	—		5,144
Captive insurance subsidiary (2)	9,492		7,628
Total cash, cash equivalents and restricted cash shown in the
consolidated statements of cash flows	$	107,317	$	52,065

_______________

(1)Represents amounts that were previously held in a segregated bank account by Wells Fargo as collateral for outstanding letters of credit. Effective with our entry into the credit agreement (see Note 12), letters of credit are now secured under the credit agreement.

(2)$1.5 million of the restricted cash balance relates to the initial capitalization of our captive insurance company formed in late 2020, and the remainder represents amounts paid to our captive insurance company for insurance premiums.

Schedule of Common Stock

The following table reconciles our outstanding common stock for the periods indicated:


						Common
						shares

Balance, January 1, 2019						4,217,596
Issuance of shares in acquisition (see Note 6)						11,145
Vesting of restricted stock unit awards (see Note 15)						7,604
Shares withheld to cover taxes upon vesting of restricted stock unit awards						(883)
Other						71
Balance, December 31, 2019						4,235,533
Vesting of restricted stock unit awards (see Note 15)						10,290
Shares withheld to cover taxes upon vesting of restricted stock unit awards						(2,107)
Balance, December 31, 2020						4,243,716
Vesting of restricted stock unit awards (see Note 15)						14,244
Vesting of performance share unit awards (see Note 15)						2,461
Shares withheld to cover taxes upon vesting of equity awards						(3,043)
Shares sold under at-the-market offering program						97,623
Balance, December 31, 2021						4,355,001

Schedule of Earnings per Share, Basic and Diluted

A reconciliation of the calculation of basic and diluted earnings per share was as follows for the periods indicated (in thousands, except per share data):


	Year Ended December 31,
	2021		2020		2019
Earnings per share – numerator:
Net earnings	$	11,888	$	995	$	8,207

Denominator:
Basic weighted average number of shares outstanding	4,283		4,240		4,228
Basic earnings per share	$	2.78	$	0.23	$	1.94

Diluted earnings per share:

Diluted weighted average number of shares outstanding:
Common shares	4,283		4,240		4,228
Restricted stock unit awards	23		11		5
Performance share unit awards (1)	17		3		—
Total	4,323		4,254		4,233

Diluted earnings per share	$	2.75	$	0.23	$	1.94

_______________

(1)The dilutive effect of performance share awards are included in the calculation of diluted earnings per share when the performance share award performance conditions have been achieved. The performance conditions for the performance share unit awards granted in 2019, 2020 and 2021 were achieved as of December 31, 2019, 2020 and 2021, respectively. For the year ended December 31, 2019, the effects of the performance share awards on earning per share were anti-dilutive.

Schedule of Cost of Retirement Plans

Our 401(k) plan contributory expenses were as follows for the periods indicated (in thousands):


	Year Ended December 31,
	2021		2020		2019

Contributory expenses	$	1,159	$	1,100	$	1,117