Note 14 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	As of December 31,
(in thousands)	2019			2018		2017
Current:
Federal	$	1,747		$	9,188	$	7,695
International		107			-		-
State and local		22			1,797		666
		1,876			10,985		8,361
Deferred		(443	)		1,320		(10,974	)
Income tax provision (benefit)	$	1,433		$	12,305	$	(2,613	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(in thousands)	2019			2018
Deferred tax assets:
Inventory (excluding LIFO reserve)	$	1,353		$	1,622
Net operating loss and tax credit carryforwards		3,198			2,498
Allowance for doubtful accounts		513			504
Accrued expenses		5,486			6,087
Lease liabilities		6,718			-
Interest rate hedge		760			-
Other		237			232
Deferred tax assets before valuation allowance		18,265			10,943
Valuation allowance		(2,215	)		(2,055	)
Total deferred tax assets		16,050			8,888
Deferred tax liabilities:
LIFO reserve		(3,646	)		(3,870	)
Property and equipment		(13,250	)		(13,625	)
Lease right of use assets		(6,718	)		-
Intangibles		(4,698	)		(4,858	)
Total deferred tax liabilities		(28,312	)		(22,353	)
Deferred tax liabilities, net	$	(12,262	)	$	(13,465	)

Schedule of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns Roll Forward [Table Text Block]

(in thousands)	2019			2018			2017
Balance as of January 1	$	27		$	40		$	38
Change in tax due to tax law		-			(12	)		-
Increases related to current year tax positions		10			9			15
Decreases related to lapsing of statute of limitations		(9	)		(10	)		(13	)
Balance as of December 31	$	28		$	27		$	40

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2019			2018			2017
U.S. federal statutory rate in effect		21.0	%		21.0	%		35.0	%
State and local taxes, net of federal benefit		3.7	%		4.6	%		3.6	%
Sec. 199 manufacturing deduction		-			-			(3.8	%)
Meals and entertainment		5.8	%		0.6	%		1.8	%
Tax credits		(4.2	%)		(0.6	%)		(1.3	%)
Change in valuation allowance		-			-			0.6	%
Change in U.S. federal statutory rate		-			-			(37.7	%)
Change in tax affect of SERP		-			-			(11.4	%)
All other, net		0.8	%		1.1	%		(2.8	%)
Effective income tax rate		27.1	%		26.7	%		(16.0	%)