Note 4 - Periodic Pension Cost

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Retirement Benefits [Text Block]

NOTE 4 – Periodic Pension Cost:

The Company is the sponsor of an unfunded supplemental executive retirement plan ("SERP") which includes one active participant.

The following table details the net periodic pension cost under the Company’s SERP for the periods presented (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Service cost on benefits earned during the period	$	-	$	51	$	21	$	102
Interest cost on projected benefit obligation		159		100		318		200
Recognized actuarial loss		55		428		110		856
Net periodic pension cost	$	214	$	579	$	449	$	1,158

The service cost component is included in selling and administrative expenses in our statements of comprehensive income (loss) and the other components of net periodic pension cost are included in other periodic pension costs in our statements of comprehensive income (loss).