Note 6 - Accrued Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

	2021			2020
	(in thousands)
Defined benefit pension plan	$	5,932		$	8,790
Non-qualified retirement plan		2,147			2,301
Total		8,079			11,091
Less current portion		(142	)		(165	)
Non-current portion of accrued retirement benefits	$	7,937		$	10,926

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]

	2021					2020
	(in thousands)
Change in benefit obligations:
Benefit obligations at beginning of year	$	54,655				$	54,128
Interest cost		1,237					1,633
Actuarial (gain) loss		(1,160			)		3,588
Benefits paid		(14,550			)		(4,694			)
Benefit obligations at end of year		40,182					54,655
Change in plan assets:
Fair value of plan assets at beginning of year		43,587					44,284
Actual return on plan assets		1,384					3,869
Employer contributions		1,682					128
Benefits paid		(14,550			)		(4,694			)
Fair value of plan assets at end of year		32,103					43,587
Funded status	$	(8,079			)	$	(11,068			)
Accumulated benefit obligations	$	40,182				$	54,655
Weighted average assumptions to determine benefit obligations:
Discount rate		2.69	-	2.74%			2.28	-	2.35%
Expected long-term return on plan assets			4.00%					4.50%
Rate of compensation increase			n/a					n/a

Schedule of Net Benefit Costs [Table Text Block]

	2021			2020
	(in thousands)
Pension and other benefits:
Interest cost	$	1,237		$	1,633
Expected return on plan assets		(1,680	)		(2,020	)
Recognized net actuarial loss		933			839
Settlement expense		4,252			-
Pension expense	$	4,742		$	452
Other changes in plan assets and benefit obligations recognized in comprehensive income:
Net loss (gain)	$	(865	)	$	1,739
Amortization of recognized loss		(5,185	)		(839	)
Total recognized (gain) loss in comprehensive income	$	(6,050	)	$	900

Defined Benefit Plan, Assumptions [Table Text Block]

Weighted average assumptions used to determine net periodic benefit cost:	2021				2020
Discount rate		2.28	-	2.35%		3.10	-	3.14%
Expected long-term return on plan assets			4.50%				4.75%
Rate of compensation increase			n/a				n/a

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

	2021 Fair Value Measurements (in thousands)
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Measured at NAV as a practical expedient		Total
ACIT equity funds	$	-	$	6,385		1,425	$	7,810
ACIT fixed income funds		-		21,114		1,746		22,860
Cash management funds		-		1,433		-		1,433
	$	-	$	28,932		3,171	$	32,103

	2020 Fair Value Measurements (in thousands)
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Measured at NAV as a practical expedient		Total
ACIT equity funds	$	-	$	9,406		1,152	$	10,558
ACIT fixed income funds		-		29,958		2,108		32,066
Cash management funds		-		963		-		963
	$	-	$	40,327		3,260	$	43,587

Schedule of Expected Benefit Payments [Table Text Block]

Years ending December 31,
2022	$	3,087
2023	$	2,994
2024	$	2,905
2025	$	2,822
2026	$	2,732
2027 - 2031	$	12,234