Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of basic and diluted per share results

	For the Three Months Ended				For the Nine Months Ended
	Sep. 30, 2021		Sep. 30, 2020		Sep. 30, 2021		Sep. 30, 2020
Net loss	$	(3,547)	$	(657)	$	(5,466)	$	(1,637)
Weighted average shares outstanding for computation of basic per share results		7,724,000		5,352,000		7,231,000		5,190,000
Incremental shares from assumed exercise of stock options and warrants (a)		—		—		—		—
Adjusted weighted average shares for computation of diluted per share results		7,724,000		5,352,000		7,231,000		5,190,000

(a) Incremental shares from the assumed exercise of INDUS stock options are not included in periods where the inclusion of such shares would be anti-dilutive. The incremental shares from the assumed exercise of stock options and the Warrant for the 2021 third quarter and 2020 third quarter would have been 175,000 and 72,000, respectively. The incremental shares from the assumed exercise of the Warrant and stock options for the 2021 nine month period and 2020 nine month period would have been 150,000 and 62,000, respectively.

Schedule of options granted by INDUS under the Stock Option Plan to non-employee directors

		Fair Value per
	Number of	Option at
	Shares	Grant Date
Non-employee directors	111,258	$	11.00 - 14.17

Number of option holders at September 30, 2021 18

Schedule of unrecognized compensation expense related to nonvested stock options

Balance of 2021	$	99
2022	$	372
2023	$	231
2024	$	111
2025	$	15

Summary of the activity under the INDUS Stock Option Plan

	For the Nine Months Ended
	Sep. 30, 2021			Sep. 30, 2020
	Number of		Weighted Avg.	Number of		Weighted Avg.
	Shares		Exercise Price	Shares		Exercise Price
Outstanding at beginning of period	246,150	$	36.06	189,822	$	28.23
Adjustment for stock dividend	5,413	$	34.29	—	$	—
Granted	—	$	—	111,258	$	45.72
Exercised	(15,422)	$	26.37	(44,900)	$	28.73
Forfeited	(1,067)	$	37.49	—	$	—
Outstanding at end of period	235,074	$	35.85	256,180	$	35.74

Schedule of options by range of exercise prices

				Weighted Avg.
				Remaining
Range of Exercise Prices for	Outstanding at	Weighted Avg.		Contractual Life	Total Intrinsic
Outstanding Options	Sep. 30, 2021	Exercise Price		(in years)	Value
$23.00 - $28.00	96,124	$	26.24	4.5	$	4,216
$28.00 - $32.00	14,073	$	29.84	3.8		567
$32.00 - $47.00	124,877	$	43.93	8.2		3,267
	235,074	$	35.85	6.4	$	8,050
Vested options	125,395	$	27.92	4.7	$	5,289

Schedule of accumulated other comprehensive income (loss)

	For the Nine Months Ended
	Sep. 30, 2021			Sep. 30, 2020
Balance at beginning of period	$	(7,855)	$	(2,540)
Other comprehensive gain (loss) before reclassifications		2,083		(6,100)
Amounts reclassified		1,504		837
Net activity for other comprehensive gain (loss)		3,587		(5,263)
Balance at end of period	$	(4,268)	$	(7,803)

Schedule of components of accumulated other comprehensive income (loss)

	For the Three Months Ended
	Sep. 30, 2021						Sep. 30, 2020
			Tax						Tax
			(Expense)		Net-of				(Expense)		Net-of
	Pre-Tax		Benefit		Tax		Pre-Tax		Benefit		Tax
Reclassification included in net loss:
Loss on cash flow hedges (interest expense)	$	510	$	—	$	510	$	509	$	(106)	$	403
Change in other comprehensive income:
Increase (decrease) in fair value of cash flow hedges		114		—		114		(25)		4		(21)
Other comprehensive income	$	624	$	—	$	624	$	484	$	(102)	$	382

	For the Nine Months Ended
	Sep. 30, 2021						Sep. 30, 2020
			Tax						Tax
			(Expense)		Net-of				(Expense)		Net-of
	Pre-Tax		Benefit		Tax		Pre-Tax		Benefit		Tax
Reclassification included in net loss:
Loss on cash flow hedges (interest expense)	$	1,504	$	—	$	1,504	$	1,058	$	(221)	$	837
Change in other comprehensive income (loss):
Increase (decrease) in fair value of cash flow hedges		2,083		—		2,083		(7,665)		1,565		(6,100)
Other comprehensive income (loss)	$	3,587	$	—	$	3,587	$	(6,607)	$	1,344	$	(5,263)

Restricted Stock Units (RSUs) [Member]

Schedule of options granted under RSU

	Time-based vesting			Performance-based vesting
		Fair Value per			Fair Value per
	Number of	Unit at		Number of	Unit at
	Units	Grant Date		Shares	Grant Date
Employees	8,508	$	63.15	8,508	$	79.33
Non-employee directors	4,682	$	67.28	-
	13,190			8,508

Schedule of unrecognized compensation expense related to nonvested stock options

Balance of 2021	$	206
2022	$	503
2023	$	270
2024	$	22

Schedule of compensation expense and related tax benefits for stock options

	For the Three Months Ended				For the Nine Months Ended
	Sep. 30, 2021		Sep. 30, 2020		Sep. 30, 2021		Sep. 30, 2020
Compensation expense	$	305	$	125	$	810	$	407
Related tax benefit	$	—	$	26	$	—	$	88