Note 5 - Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

Maturity date (Dollar amounts in thousands of U.S. dollars)	Notional amount of U.S. dollars		Weighted average exchange rate of U.S. dollars		Fair value Asset / (Liability)
October - December 2021		12,959		1.2455		(209	)
January - March 2022		7,930		1.2452		(129	)
	$	20,889		1.2454	$	(338	)

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

Derivatives (Dollar amounts in thousands of U.S. dollars)	Balance Sheet Location	As of September 30, 2021 Fair Value Asset (Liability)			As of December 31, 2020 Fair Value Asset (Liability)
Foreign Currency forward contracts designated as cash flow hedges (net)	Derivative instruments	$	(338	)	$	3,254
Interest rate swap contract designated as a cash flow hedge (net)	Derivative instruments		(37	)	$	(213	)
Foreign Currency forward contracts not designated as cash flow hedges (net)	Derivative instruments		-			606
Total foreign currency and interest swap forward contracts (net)	Derivative instruments	$	(375	)	$	3,647

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

	Gains and losses on cash flow hedges			Tax impact			Total AOCI
Opening AOCI balance - June 30, 2021	$	1,424		$	(327	)	$	1,097
Other comprehensive income (loss) before reclassifications		(654	)		153			(501	)
Amount reclassified from AOCI		(1,150	)		266			(884	)
Other comprehensive income (loss) for the three months ended September 30, 2021		(1,804	)		419			(1,385	)
Ending AOCI Balance - September 30, 2021	$	(380	)	$	92		$	(288	)

	Gains and losses on cash flow hedges			Tax impact			Total AOCI
Opening AOCI balance - December 31, 2020	$	3,038		$	(702	)	$	2,336
Other comprehensive income (loss) before reclassifications		148			(33	)		115
Amount reclassified from AOCI		(3,566	)		827			(2,739	)
Other comprehensive income (loss) for the nine months ended September 30, 2021		(3,418	)		794			(2,624	)
Ending AOCI Balance - September 30, 2021	$	(380	)	$	92		$	(288	)

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

Derivatives in Cash Flow Hedging Relationship	Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative			Location of Gain or (Loss) Reclassified from AOCI into Income	Amount of Gain or (Loss) Reclassified from AOCI into Income
				Operating expenses	$	967
Foreign currency forward contracts for the three months ended September 30, 2021	$	(466	)	Cost of revenues	$	219
Interest rate swap contract for the three months ended September 30, 2021	$	(35	)	Interest expense, net	$	(36	)
				Operating expenses	$	(43	)
Foreign currency forward contracts for the three months ended September 30, 2020	$	762		Cost of revenues	$	(12	)
Interest rate swap contract for the three months ended September 30, 2020	$	13		Interest expense, net	$	(4	)

Derivatives in Cash Flow Hedging Relationship	Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative			Location of Gain or (Loss) Reclassified from AOCI into Income	Amount of Gain or (Loss) Reclassified from AOCI into Income
				Operating expenses	$	3,004
Foreign currency forward contracts for the nine months ended September 30, 2021	$	42		Cost of revenues	$	643
Interest rate swap contract for the nine months ended September 30, 2021	$	73		Interest expense, net	$	(81	)
				Operating expenses	$	(290	)
Foreign currency forward contracts for the nine months ended September 30, 2020	$	1,039		Cost of revenues	$	(82	)
Interest rate swap contract for the nine months ended September 30, 2020	$	(141	)	Interest expense, net	$	(4	)

Derivatives Not Designated as Hedging Instruments [Table Text Block]

	Three Months Ended September 30,						Nine Months Ended September 30,
Forward currency contracts not designated as hedges:	2021			2020			2021			2020
Gain (loss) on settlement	$	336		$	(18	)	$	883		$	(162	)
Gain (loss) on change in fair value	$	(249	)	$	177		$	(606	)	$	261