Note 3 - Recent Accounting Pronouncements

9 Months Ended

Oct. 01, 2023

Notes to Financial Statements

Accounting Standards Update and Change in Accounting Principle [Text Block]

(3) Recent Accounting Pronouncements

In June 2016, the FASB issued ASU 2016-13, Credit Losses – Measurement of Credit Losses on Financial Instruments, new guidance for the accounting for credit losses on certain financial instruments. This guidance introduces a new approach to estimating credit losses on certain types of financial instruments and modifies the impairment model for available-for-sale debt securities. The Company adopted this guidance on January 1, 2023, which had no material impact on our consolidated financial statements.