Weyco (WEYS) 10-K11 Mar 222020 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2021	Mar. 01, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	000-09068
Entity Registrant Name	WEYCO GROUP, INC.
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0702200
Entity Address, Address Line One	333 W. Estabrook Boulevard
Entity Address, Address Line Two	P. O. Box 1188
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53201
City Area Code	414
Local Phone Number	908-1600
Title of 12(b) Security	Common Stock - $1.00 par value per share
Trading Symbol	WEYS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,664,756
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0000106532
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$ 131,643,000
ICFR Auditor Attestation Flag	true
Auditor Name	Baker Tilly US, LLP
Auditor Firm ID	23
Auditor Location	Milwaukee, Wisconsin

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF EARNINGS
Net sales	$ 267,641	$ 195,375
Cost of sales	160,194	116,817
Gross earnings	107,447	78,558
Selling and administrative expenses	81,745	86,156
Earnings (loss) from operations	25,702	(7,598)
Interest income	641	527
Interest expense	(81)	(79)
Other income, net	1,083	96
Earnings (loss) before provision for income taxes	27,345	(7,054)
Provision for income taxes	6,790	1,431
Net earnings (loss)	$ 20,555	$ (8,485)
Basic earnings (loss) per share (in dollars per share)	$ 2.13	$ (0.87)
Diluted earnings (loss) per share (in dollars per share)	$ 2.12	$ (0.87)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net earnings (loss)	$ 20,555	$ (8,485)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(733)	983
Pension liability adjustments	3,944	(4,452)
Other comprehensive income (loss)	3,211	(3,469)
Comprehensive income (loss)	$ 23,766	$ (11,954)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS:
Cash and cash equivalents	$ 19,711	$ 32,476
Investments, at fair value	8,122
Marketable securities, at amortized cost	219	2,215
Accounts receivable, less allowances of $2,067 and $2,666, respectively	53,287	34,631
Income tax receivable	495	1,374
Inventories	71,026	59,025
Prepaid expenses and other current assets	4,317	4,610
Total current assets	157,177	134,331
Marketable securities, at amortized cost	9,996	12,800
Deferred income tax benefits	1,063	1,235
Property, plant and equipment, net	29,202	30,759
Operating lease right-of-use assets	9,543	9,613
Goodwill	12,317	11,112
Trademarks	34,768	32,868
Other assets	23,601	24,001
Total assets	277,667	256,719
LIABILITIES AND EQUITY:
Accounts payable	19,234	8,444
Operating lease liabilities	3,593	4,245
Accrued liabilities:
Accrued compensation and employee benefits	5,948	4,019
Sales and advertising allowances	1,934	2,477
Taxes other than income taxes	991	1,123
Other	2,808	4,037
Total current liabilities	34,508	24,345
Deferred income tax liabilities	5,026	2,914
Long-term pension liability	27,776	33,534
Operating lease liabilities	7,520	7,734
Other long-term liabilities	1,442	267
Total liabilities	76,272	68,794
Commitments and contingencies (Note 15)
Common stock, $1.00 par value, authorized 24,000,000 shares in 2021 and 2020, issued and outstanding 9,708,730 shares in 2021 and 9,797,204 shares in 2020	9,709	9,797
Capital in excess of par value	68,718	67,178
Reinvested earnings	147,762	138,955
Accumulated other comprehensive loss	(24,794)	(28,005)
Total equity	201,395	187,925
Total liabilities and equity	$ 277,667	$ 256,719

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED BALANCE SHEETS
Accounts receivable, reserves (in dollars)	$ 2,067	$ 2,666
Common stock, par value (in dollars per share)	$ 1	$ 1
Common Stock, Shares Authorized	24,000,000	24,000,000
Common Stock, Shares, Issued	9,708,730
Common Stock, Shares, Outstanding	9,708,730	9,797,204

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Common Stock	Capital in Excess of Par Value	Reinvested Earnings	Accumulated Other Comprehensive Loss	Total
Balance at Dec. 31, 2019	$ 9,873	$ 65,832	$ 158,825	$ (24,536)
Net earnings (loss)	0	0	(8,485)	0	$ (8,485)
Foreign currency translation adjustments	0	0	0	983	983
Pension liability adjustment (net of tax)	0	0	0	(4,452)	(4,452)
Cash dividends declared ($0.96 per share)	0	0	(9,429)	0
Net stock options exercised					0
Issuance of restricted stock	31	(31)	0	0
Share-based compensation expense	0	1,377	0	0
Shares purchased and retired	(107)	0	(1,956)	0
Balance at Dec. 31, 2020	9,797	67,178	138,955	(28,005)	187,925
Net earnings (loss)	0	0	20,555	0	20,555
Foreign currency translation adjustments	0	0	0	(733)	(733)
Pension liability adjustment (net of tax)	0	0	0	3,944	3,944
Cash dividends declared ($0.96 per share)	0	0	(9,348)	0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	(1)	(1)	0	0
Net stock options exercised					(2)
Issuance of restricted stock	36	(36)	0	0
Share-based compensation expense	0	1,575	0	0
Shares purchased and retired	(125)	0	(2,400)	0
Balance at Dec. 31, 2021	$ 9,709	$ 68,718	$ 147,762	$ (24,794)	$ 201,395

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF EQUITY
Pension liability adjustment, net of tax (in dollars)	$ 1,387	$ 1,564
Cash dividends declared (in dollars per share)	$ 0.96	$ 0.96

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings (loss)	$ 20,555	$ (8,485)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities -
Depreciation	2,490	2,901
Amortization	307	316
Bad debt expense	198	5,289
Deferred income taxes	910	2,755
Net foreign currency transaction (gains) losses	(233)	98
Share-based compensation expense	1,575	1,377
Pension (benefit) expense	(26)	397
Impairment of long-lived assets	1,131	3,055
Loss on disposal of fixed assets	44	111
Increase in cash surrender value of life insurance	(636)	(611)
Changes in operating assets and liabilities, net of effects from acquisition
Accounts receivable	(18,717)	11,397
Inventories	(11,349)	27,520
Prepaid expenses and other assets	71	1,281
Accounts payable	10,755	(4,149)
Accrued liabilities and other	(1,567)	(1,773)
Accrued income taxes	884	(1,498)
Net cash provided by operating activities	6,392	39,981
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of business	(2,550)	0
Proceeds from maturities of marketable securities	4,791	6,680
Purchases of investment securities	(35,000)	0
Proceeds from sale of investment securities	26,878	0
Life insurance premiums paid	(111)	(155)
Purchases of property, plant and equipment	(1,007)	(3,368)
Net cash (used for) provided by investing activities	(6,999)	3,157
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid	(9,345)	(11,776)
Shares purchased and retired	(2,525)	(2,063)
Net proceeds from stock options exercised	2	0
Proceeds from bank borrowings	0	33,947
Repayments of bank borrowings	0	(40,996)
Net cash used for financing activities	(11,868)	(20,888)
Effect of exchange rate changes on cash and cash equivalents	(290)	427
Net (decrease) increase in cash and cash equivalents	(12,765)	22,677
CASH AND CASH EQUIVALENTS at beginning of year	32,476	9,799
CASH AND CASH EQUIVALENTS at end of year	19,711	32,476
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net of refunds	5,806	914
Interest paid	$ 80	$ 72

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
NATURE OF OPERATIONS	Dec. 31, 2021
Financial Statements
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS Weyco Group, Inc. (the “Company”) designs and markets quality and innovative footwear principally for men, but also for women and children, under a portfolio of well-recognized brand names including: Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake. Inventory is purchased from third-party overseas manufacturers. The majority of foreign-sourced purchases are denominated in U.S. dollars. The Company has two reportable segments, North American wholesale operations (“Wholesale”) and North American retail operations (“Retail”). In the wholesale segment, the Company’s products are sold to leading footwear, department, and specialty stores, as well as e-commerce retailers, primarily in the United States and Canada. The Company also has licensing agreements with third parties who sell its branded apparel, accessories and specialty footwear in the United States, as well as its footwear in Mexico and certain markets overseas. Licensing revenues are included in the Company’s wholesale segment. The Company’s retail segment consisted of e-commerce businesses and four brick and mortar retail stores in the United States as of December 31, 2021. Retail sales are made directly to consumers on the Company’s websites, or by Company employees. The Company’s “other” operations include the Company’s wholesale and retail businesses in Australia, South Africa, Asia Pacific (collectively, “Florsheim Australia”) and Europe (“Florsheim Europe”). In late 2020, the Company decided to close Florsheim Europe and management is in the final stages of winding down this business. The majority of the Company’s operations are in the United States and its results are primarily driven by the economic conditions and retail environment in the United States.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation Use of Estimates Cash and Cash Equivalents Investments Investments – Debt and Equity Securities, Accounts Receivable – Two of the Company’s large customers filed for bankruptcy during 2020. J.C. Penney Company, Inc. and affiliated entities (“JCP”) filed for bankruptcy in May 2020, and Tailored Brands, Inc. (“TB”) filed for bankruptcy in August 2020. The Company wrote off $4.3 million (net) in connection with these bankruptcy filings during 2020. Inventories Property, Plant and Equipment and Depreciation Impairment of Long-Lived Assets Leases - ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date for leases exceeding 12 months. Minimum lease payments include only the fixed lease component of the agreement, as well as any variable rate payments that depend on an index, initially measured using the index at the lease commencement date. Lease terms may include options to renew when it is reasonably certain that the Company will exercise that option. As the Company’s leases generally do not provide an implicit rate, the Company used its incremental borrowing rate in determining the present value of lease payments. The incremental borrowing rate was a hypothetical rate based on an understanding of what the Company could borrow from a third-party lender, on a collateralized basis, over a similar term, and in an amount that approximates the value of the Company’s future lease payments. The Company used a portfolio approach and applied a single discount rate to all of its leases. Operating lease costs are recognized on a straight-line basis over the lease term and are included in selling and administrative expenses. Variable lease payments that do not depend on a rate or index, payments associated with non-lease components, and short-term rentals (leases with terms less than 12 months) are expensed as incurred. See Note 8. Goodwill - Intangible Assets (excluding Goodwill) Life Insurance – Income Taxes - Revenue Recognition transfers to the customer are treated as fulfillment activities, not as a separate performance obligation. Retail revenue is generated primarily from the sale of footwear to customers through the Company’s websites and at retail locations. For sales made through the Company’s websites, revenue is recognized upon shipment to the customer. For in-store sales, the Company recognizes revenue at the point of sale. Sales taxes collected from website or retail sales are excluded from the Company’s reported net sales. Revenue from third-party licensing agreements is recognized in the period earned. Licensing revenues were $1.7 million in 2021 and $1.2 million in 2020. All revenue is recorded net of estimated allowances for returns and discounts; these revenue offsets are accrued for at the time of sale. The Company’s estimates of allowances for returns and discounts are based on such factors as specific customer situations, historical experience, and current and expected economic conditions. The Company evaluates the reserves and the estimation process and makes adjustments when appropriate. Generally, payments from customers are received within 90 days following the sale. The Company’s contracts with customers do not have significant financing components or significant prepayments from customers, and there is no non-cash consideration. The Company does not have unbilled revenue, and there are no contract assets and liabilities. Shipping and Handling Fees Selling and Administrative Expenses Cost of Sales Selling and Administrative Expenses - Advertising Costs - Foreign Currency Translations Foreign Currency Matters Foreign Currency Transactions - Financial Instruments – Realized gains and losses on foreign exchange contracts are related to the purchase and sale of inventory and therefore are included in the Company’s net sales or cost of sales. In 2021 and 2020, realized gains and losses on foreign exchange contracts were not material to the Company’s financial statements. Earnings Per Share Comprehensive Income (Loss) – Share-Based Compensation - Compensation – Stock Compensation Concentration of Credit Risk New Accounting Pronouncements Recently Adopted On January 1, 2021, the Company adopted Accounting Standards Update ("ASU") 2019-12 Simplifying the Accounting for Income Taxes In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurements of Credit Losses on Financial Instruments

ACQUISITION

ACQUISITION	12 Months Ended
ACQUISITION	Dec. 31, 2021
ACQUISITION
ACQUISITION	3. ACQUISITION On June 7, 2021, the Company acquired substantially all of the operating assets and certain liabilities of Forsake, Inc. (“Forsake”) a distributor of outdoor footwear, under the brand name “Forsake.” The principal assets acquired were inventory, accounts receivable, and intellectual property, including the Forsake brand name. The aggregate purchase price was approximately $2.6 million, plus contingent payments to be paid annually over a period of five years, depending on Forsake achieving certain performance measures. The Company’s estimate of the discounted fair value of the contingent payments was approximately $1.3 million in total. The $2.6 million purchase price was funded with the Company’s available cash. The establishment of the contingent consideration liability as of the acquisition date is considered a non-cash investing activity. Transaction costs incurred in connection with the acquisition were not material to the Company's financial statements. The Company’s final allocation of the purchase price as of December 31, 2021 was as follows: (Dollars in thousands) Accounts receivable, net $ 143 Inventories 619 Prepaid expenses and other current assets 72 Property, plant and equipment, net 17 Goodwill 1,205 Trademark 1,900 Accrued Liabilities (48) Total $ 3,908 The Company recorded $3.1 million of intangible assets, including $1.2 million of goodwill, which has been allocated to the wholesale and retail segments, as of the acquisition date. Goodwill reflects the excess purchase price over the fair value of net assets. All of this goodwill is deductible for tax purposes.The fair value of the trademark was determined using a discounted cash flow methodology. The trademark will not be amortized, but instead tested for impairment on an annual basis. The accompanying consolidated financial statements include the results of Forsake from the date of acquisition through December 31, 2021. During this period, Forsake's net sales totaled approximately $2.1 million, of which $1.2 million was recognized in the wholesale segment and $0.9 million was recognized in the retail segment. Pro forma financial information is not presented as the effects of this acquisition were not material to the Company's results of operations or financial position.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Dec. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	4. FAIR VALUE OF FINANCIAL INSTRUMENTS ASC 820, Fair Value Measurements and Disclosures, ● Level 1 - unadjusted quoted market prices in active markets for identical assets or liabilities that are publicly accessible. ● Level 2 - quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and inputs (other than quoted prices) that are observable for the asset or liability, either directly or indirectly. ● Level 3 - unobservable inputs that reflect the Company’s assumptions, consistent with reasonably available assumptions made by other market participants. The carrying amounts of all short-term financial instruments, except marketable securities and foreign exchange contracts, approximate fair value due to the short-term nature of those instruments. Marketable securities are carried at amortized cost. The fair value disclosures of marketable securities are Level 2 valuations as defined by ASC 820, consisting of quoted prices for identical or similar assets in markets that are not active. See Note 5. Foreign exchange contracts are carried at fair value. The fair value measurements of foreign exchange contracts are based on observable market transactions of spot and forward rates, and thus represent Level 2 valuations as defined by ASC 820.

INVESTMENTS

INVESTMENTS	12 Months Ended
INVESTMENTS	Dec. 31, 2021
INVESTMENTS
INVESTMENTS	5. INVESTMENTS Investments, at fair value During 2021, the Company invested $8.1 million of cash in highly liquid fixed income funds. The Company classified these investments as trading securities and reported them at fair value. There were no significant unrealized gains or losses on these investments in 2021. The fair value measurements of these investments are based on quoted market prices in active markets, and thus represent a level 1 valuation as defined by ASC 820. Marketable securities, at amortized cost The Company also invests in marketable securities. All the Company’s marketable securities are classified as held-to-maturity securities and reported at amortized cost pursuant to ASC Topic 320, Investments – Debt and Equity Securities Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of December 31, 2021 and 2020. The estimated market values provided are Level 2 valuations as defined by ASC 820. 2021 2020 Amortized Cost Market Value Amortized Cost Market Value (Dollars in thousands) Municipal bonds: Current $ 219 $ 223 $ 2,215 $ 2,249 Due from one through five years 6,503 6,805 7,420 7,830 Due from six through ten years 2,479 2,790 3,057 3,608 Due from eleven through twenty years 1,014 1,102 2,323 2,547 Total $ 10,215 $ 10,920 $ 15,015 $ 16,234 The unrealized gains and losses on marketable securities at December 31, 2021 and 2020 were as follows: 2021 2020 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 705 $ — $ 1,219 $ — At each reporting date, the Company reviews its investments to determine whether a decline in fair value below the amortized cost basis is other-than-temporary. To determine whether a decline in value is other-than-temporary, the Company considers all available evidence, including the issuer’s financial condition, the severity and duration of the decline in fair value, and the Company’s intent and ability to hold the investment for a reasonable period of time sufficient for any forecasted recovery. If a decline in value is deemed other-than-temporary, the Company records a reduction in the carrying value to the estimated fair value. The Company determined that no other-than-temporary impairment exists for the years ended December 31, 2021 and 2020.

INVENTORIES

INVENTORIES	12 Months Ended
INVENTORIES	Dec. 31, 2021
INVENTORIES
INVENTORIES	6. INVENTORIES At December 31, 2021 and 2020, inventories consisted of: 2021 2020 (Dollars in thousands) Finished shoes $ 99,244 $ 78,158 LIFO reserve (28,218) (19,133) Total inventories $ 71,026 $ 59,025 Finished shoes included inventory in-transit of $52.6 million and $7.1 million at December 31, 2021 and 2020, respectively. At December 31, 2021 and 2020, approximately 90% and 91% of the Company’s inventories were valued by the LIFO method of accounting while approximately 10% and 9% were valued by the FIFO method of accounting. During 2021, there were liquidations of LIFO inventory quantities carried at lower costs prevailing in prior years compared to the cost of fiscal 2021 purchases; the effect of the liquidations decreased cost of sales by $181,000. During 2020, there were liquidations of LIFO inventory quantities carried at lower costs prevailing in prior years compared to the cost of fiscal 2020 purchases; the effect of the liquidations decreased cost of sales by $261,000

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT, NET	Dec. 31, 2021
PROPERTY, PLANT AND EQUIPMENT, NET.
PROPERTY, PLANT AND EQUIPMENT, NET	7. PROPERTY, PLANT AND EQUIPMENT, NET At December 31, 2021 and 2020, property, plant and equipment consisted of: 2021 2020 (Dollars in thousands) Land and land improvements $ 3,793 $ 3,793 Buildings and improvements 32,191 32,154 Machinery and equipment 36,031 36,380 Retail fixtures and leasehold improvements 3,732 3,830 Construction in progress 701 637 Property, plant and equipment 76,448 76,794 Less: Accumulated depreciation (47,246) (46,035) Property, plant and equipment, net $ 29,202 $ 30,759 In early 2020, the Company completed a project to expand its office space within its corporate headquarters.

LEASES

LEASES	12 Months Ended
LEASES	Dec. 31, 2021
LEASES
LEASES	8. LEASES The Company leases retail shoe stores, as well as several office and distribution facilities worldwide. The leases have original lease periods expiring between 2022 and 2029. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of the Company’s operating lease costs were as follows: Twelve Months Ended December 31, 2021 2020 (Dollars in thousands) Operating lease costs $ 5,045 $ 6,714 Variable lease costs (1) 82 30 Total lease costs $ 5,127 $ 6,744 (1) Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts. Short-term lease costs, which were excluded from the above table, are not material to the Company’s financial statements. The following is a schedule of maturities of operating lease liabilities as of December 31, 2021: Operating Leases (Dollars in thousands) 2022 $ 3,906 2023 2,963 2024 2,073 2025 1,358 2026 1,009 Thereafter 719 Total lease payments 12,028 Less imputed interest (915) Present value of lease liabilities $ 11,113 The operating lease liabilities are classified in the consolidated balance sheets as follows: December 31, December 31, 2021 2020 (Dollars in thousands) Operating lease liabilities - current $ 3,593 $ 4,245 Operating lease liabilities - non-current 7,520 7,734 Total $ 11,113 $ 11,979 The Company determined the present value of its lease liabilities using a weighted-average discount rate of 4.25%. As of December 31, 2021, the Company’s leases have a weighted-average remaining lease term of 3.5 years. Supplemental cash flow information related to the Company’s operating leases is as follows: Twelve Months Ended December 31, 2021 2020 (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 4,888 $ 6,746 Right-of-use assets obtained in exchange for new lease liabilities (noncash) $ 5,334 $ 216

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
INTANGIBLE ASSETS	Dec. 31, 2021
INTANGIBLE ASSETS
INTANGIBLE ASSETS	9. INTANGIBLE ASSETS The Company’s indefinite-lived intangible assets as recorded in the Consolidated Balance Sheets were as follows: December 31, 2021 December 31, 2020 (Dollars in thousands) Indefinite-lived intangibles: Goodwill $ 12,317 $ 11,112 Trademarks 34,768 32,868 Total $ 47,085 $ 43,980 The additional goodwill and trademarks in 2021 resulted from the Forsake acquisition. Goodwill resulting from the Forsake acquisition has been allocated to the Company’s wholesale and retail segments as of the acquisition date. Changes in the carrying amount of the Company’s goodwill by reportable segment for the year ended December 31, 2021, were as follows: Wholesale Retail Total (Dollars in thousands) Balance, December 31, 2020 $ 11,112 $ — $ 11,112 Acquisition of business 361 844 1,205 Balance, December 31, 2021 $ 11,473 $ 844 $ 12,317 The Company evaluates goodwill for impairment annually as of December 31 or more frequently when an event occurs or circumstances change that indicates the carrying value may not be recoverable. In 2021, the Company completed a qualitative assessment noting no indicators of impairment. In 2020, the Company performed a quantitative analysis which indicated a premium compared to the carrying value of net assets, including goodwill, at the reporting unit level. The impairment assessment included comparing the carrying amount of net assets, including goodwill, of each reporting unit to its respective fair value as of the date of the assessment. Fair value was estimated based upon an evaluation of the reporting unit’s estimated future discounted cash flows as well as the valuation multiples for comparable companies. The Company did not record impairment charges for any of its reporting units in 2021 or 2020. In evaluating trademarks, the Company completed a qualitative assessment in 2021 noting no indicators of impairment. In 2020, a quantitative analysis was used, in which estimated fair values were determined using discounted cash flows and implied royalty rates. Based on the results of the trademark assessments, the Company concluded that the fair values of the trademarks substantially exceeded their respective carrying values. Therefore, no impairment was recorded on the Company’s trademarks in 2021 or 2020. The Company’s amortizable intangible assets as recorded in the Consolidated Balance Sheets consisted of the following: December 31, 2021 December 31, 2020 Weighted Gross Gross Average Carrying Accumulated Carrying Accumulated Life (Years) Amount Amortization Net Amount Amortization Net (Dollars in thousands) (Dollars in thousands) Amortizable intangible assets Customer relationships 15 $ 3,500 $ (2,528) $ 972 $ 3,500 $ (2,294) $ 1,206 Total amortizable intangible assets $ 3,500 $ (2,528) $ 972 $ 3,500 $ (2,294) $ 1,206 The amortizable intangible assets are included within other assets in the Consolidated Balance Sheets. See Note 10. The Company recorded amortization expense for intangible assets of approximately $233,000 in 2021 and in 2020, respectively. Excluding the impact of any future acquisitions, the Company anticipates future amortization expense will be approximately $233,000 in each 2022 2025

OTHER ASSETS

OTHER ASSETS	12 Months Ended
OTHER ASSETS	Dec. 31, 2021
OTHER ASSETS
OTHER ASSETS	10. OTHER ASSETS Other assets included the following amounts at December 31, 2021 and 2020: 2021 2020 (Dollars in thousands) Cash surrender value of life insurance $ 19,194 $ 18,447 Amortizable intangible assets, net (See Note 9) 972 1,206 Investment in real estate 2,118 2,173 Other 1,317 2,175 Total other assets $ 23,601 $ 24,001 The Company has five life insurance policies on current and former executives. Upon death of the insured executives, the approximate death benefit the Company would receive is $18.6 million in aggregate as of December 31, 2021. The decrease in "other" in 2021 was primarily due to a $1.1 million impairment to write-off certain assets in connection with the closing of Florsheim Europe upon determination that the assets would no longer be recoverable. On May 1, 2013, the Company purchased a 50% interest in a building in Montreal, Canada for approximately $3.2 million. The building, which is classified as an investment in real estate in the above table, serves as the Company’s Canadian office and distribution center. The purchase was accounted for as an equity-method investment under ASC 323, Investments – Equity Method and Joint Ventures

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS	12 Months Ended
SHORT-TERM BORROWINGS	Dec. 31, 2021
SHORT-TERM BORROWINGS
SHORT-TERM BORROWINGS	11. SHORT-TERM BORROWINGS At December 31, 2021, the Company had a $40 million revolving line of credit with a bank that is secured by a lien against the Company’s general corporate assets. The line of credit bears interest at LIBOR plus 1.35% and expires on November 4, 2022. The related credit agreement contains customary representations, warranties, and covenants (including a minimum tangible net worth financial covenant) for a facility of this type. At December 31, 2021 and 2020, there were no amounts outstanding on the Company’s line of credit. There were also no amounts outstanding on the line of credit during 2021.

EMPLOYEE RETIREMENT PLANS

EMPLOYEE RETIREMENT PLANS	12 Months Ended
EMPLOYEE RETIREMENT PLANS	Dec. 31, 2021
EMPLOYEE RETIREMENT PLANS
EMPLOYEE RETIREMENT PLANS	12. EMPLOYEE RETIREMENT PLANS The Company has a defined benefit pension plan which was frozen effective December 31, 2016. No benefits have been accrued under the plan subsequent to that date. The Company also has an unfunded supplemental pension plan for key executives. Retirement benefits are provided based on employees’ years of credited service and average earnings or stated amounts for years of service. Normal retirement age is 65 with provisions for earlier retirement. The plan also has provisions for disability and death benefits. The Company’s funding policy for the defined benefit pension plan is to make contributions to the plan such that all employees’ benefits will be fully provided by the time they retire. Plan assets are stated at fair value and consist primarily of equity securities and fixed income securities, mainly U.S. government and corporate obligations. The Company follows ASC 715, Compensation – Retirement Benefits, The Company’s pension plan’s weighted average asset allocation at December 31, 2021 and 2020, by asset category, was as follows: Plan Assets at December 31, 2021 2020 Asset Category: Equity Securities 60 % 59 % Fixed Income Securities 30 % 32 % Other 10 % 9 % Total 100 % 100 % The Company has a Retirement Plan Committee, consisting of the Chief Executive Officer, Chief Operating Officer and Chief Financial Officer, to manage the operations and administration of all benefit plans and related trusts. The committee has an investment policy for the pension plan assets that establishes target asset allocation ranges for the above listed asset classes as follows: equity securities: 20% - 80%; fixed income securities: 20% - 80%; and other, principally cash: 0% - 20%. On a semi-annual basis, the committee reviews progress towards achieving the pension plan’s performance objectives. To develop the expected long-term rate of return on assets assumption, the Company considered the historical returns and the future expectations for returns for each asset class, as well as the target asset allocation of the pension portfolio. This resulted in the selection of the 7.00%long-term rate of return on assets assumption for both 2021 and 2020. The following discount rates were used to determine the funded status of the pension plans as of December 31, 2021 and 2020: Defined Benefit Pension Plan Supplemental Pension Plan 2021 2020 2021 2020 Discount rate for determining funded status 2.83 % 2.47 % 2.86 % 2.51 % The following is a reconciliation of the change in benefit obligation and plan assets of both the defined benefit pension plan and the unfunded supplemental pension plan for the years ended December 31, 2021 and 2020: Defined Benefit Pension Plan Supplemental Pension Plan 2021 2020 2021 2020 (Dollars in thousands) Change in projected benefit obligation Projected benefit obligation, beginning of year $ 56,026 $ 50,552 $ 21,125 $ 18,460 Service cost 382 383 — — Interest cost 1,047 1,450 440 562 Actuarial (gain) loss (2,366) 6,067 (840) 2,485 Benefits paid (2,582) (2,426) (382) (382) Projected benefit obligation, end of year $ 52,507 $ 56,026 $ 20,343 $ 21,125 Change in plan assets Fair value of plan assets, beginning of year $ 43,144 $ 41,036 $ — $ — Actual return on plan assets 4,402 4,917 — — Administrative expenses (382) (383) — — Contributions — — 382 382 Benefits paid (2,582) (2,426) (382) (382) Fair value of plan assets, end of year $ 44,582 $ 43,144 $ — $ — Funded status of plan $ (7,925) $ (12,882) $ (20,343) $ (21,125) Amounts recognized in the consolidated balance sheets consist of: Accrued liabilities - other $ — $ — $ (492) $ (473) Long-term pension liability (7,925) (12,882) (19,851) (20,652) Net amount recognized $ (7,925) $ (12,882) $ (20,343) $ (21,125) Amounts recognized in accumulated other comprehensive loss consist of: Accumulated loss, net of income tax benefit of $4,331, $5,435, $1,976, and $2,275, respectively $ 12,328 $ 15,468 $ 5,624 $ 6,475 Prior service cost net of income tax benefit of $0, $0, $20 and $4, respectively — — 59 12 Net amount recognized $ 12,328 $ 15,468 $ 5,683 $ 6,487 As noted above, benefit accruals under the pension plan were frozen, effective December 31, 2016. Therefore, the accumulated benefit obligation of the defined benefit pension plan and supplemental pension plan were equal to the respective plans’ projected benefit obligations, as shown in the above table, at December 31, 2021 and 2020. The decrease in the projected benefit obligations in 2021 was primarily due to an increase in the discount rates. Assumptions used in determining pension expense for the years ended December 31, 2021 and 2020 were: Defined Benefit Pension Plan Supplemental Pension Plan 2021 2020 2021 2020 Discount rate for projected benefit obligation 2.47 % 3.35 % 2.51 % 3.38 % Discount rate for determining interest cost 1.91 % 2.92 % 2.10 % 3.07 % Long-term rate of return on plan assets 7.00 % 7.00 % — — The components of pension (benefit) expense for the years ended December 31, 2021 and 2020, were: 2021 2020 (Dollars in thousands) Service cost $ 382 $ 383 Interest cost 1,487 2,012 Expected return on plan assets (2,907) (2,761) Net amortization and deferral 1,012 763 Pension (benefit) expense $ (26) $ 397 The components of pension (benefit) expense other than the service cost component were included in “other income, net” in the Consolidated Statements of Earnings. It is the Company’s intention to satisfy the minimum funding requirements and maintain at least an 80% funding percentage in its defined benefit retirement plan in future years. At this time, the Company expects that any cash contributions necessary to satisfy these requirements in 2022 would not be material. Projected benefit payments for the plans at December 31, 2021, were estimated as follows: Defined Benefit Supplemental Pension Plan Pension Plan (Dollars in thousands) 2022 $ 2,843 $ 492 2023 $ 2,900 $ 679 2024 $ 2,911 $ 757 2025 $ 2,905 $ 899 2026 $ 2,899 $ 965 2027 - 2031 $ 14,369 $ 5,925 The following table summarizes the fair value of the Company’s pension plan assets at December 31, 2021, by asset category within the fair value hierarchy (for further level information, see Note 4): December 31, 2021 Quoted Prices Significant Significant in Active Markets Observable Inputs Unobservable Inputs Level 1 Level 2 Level 3 Total (Dollars in thousands) Common stocks $ 18,493 $ 1,934 $ — $ 20,427 Preferred stocks 247 31 — 278 Exchange traded funds 6,324 — — 6,324 Corporate obligations — 4,795 — 4,795 State and municipal obligations — 512 — 512 Pooled fixed income funds 6,953 — — 6,953 U.S. government securities — 659 — 659 Cash and cash equivalents 4,573 — — 4,573 Subtotal $ 36,590 $ 7,931 $ — $ 44,521 Other assets (1) 61 Total $ 44,582 (1) The following table summarizes the fair value of the Company’s pension plan assets at December 31, 2020, by asset category within the fair value hierarchy (for further level information, see Note 4): December 31, 2020 Quoted Prices Significant Significant in Active Markets Observable Inputs Unobservable Inputs Level 1 Level 2 Level 3 Total (Dollars in thousands) Common stocks $ 17,194 $ 2,196 $ — $ 19,390 Preferred stocks 245 27 — 272 Exchange traded funds 6,033 — — 6,033 Corporate obligations — 4,349 — 4,349 State and municipal obligations — 821 — 821 Pooled fixed income funds 7,117 — — 7,117 U.S. government securities — 763 — 763 Marketable CD’s — 513 — 513 Cash and cash equivalents 3,817 — — 3,817 Subtotal $ 34,406 $ 8,669 $ — $ 43,075 Other assets (1) 69 Total $ 43,144 The Company also has a defined contribution plan covering substantially all employees. The Company contributed $850,000 and $875,000 to the plan in 2021 and 2020, respectively.

Comprehensive Income (Loss)

Comprehensive Income (Loss)	12 Months Ended
Comprehensive Income (Loss)	Dec. 31, 2021
Comprehensive Income (Loss)
Comprehensive Income (Loss)	13. Comprehensive Income (Loss) The components of accumulated other comprehensive loss as recorded on the accompanying Consolidated Balance Sheets were as follows: 2021 2020 (Dollars in thousands) Foreign currency translation adjustments $ (6,783) $ (6,050) Pension liability, net of tax (18,011) (21,955) Total accumulated other comprehensive loss $ (24,794) $ (28,005) The following presents a tabular disclosure about changes in accumulated other comprehensive loss (dollars in thousands): Foreign Currency Translation Defined Benefit Adjustments Pension Items Total Balance, December 31, 2019 $ (7,033) $ (17,503) $ (24,536) Other comprehensive income (loss) before reclassifications 983 (5,017) (4,034) Amounts reclassified from accumulated other comprehensive loss — 565 565 Net current period other comprehensive income (loss) 983 (4,452) (3,469) Balance, December 31, 2020 $ (6,050) $ (21,955) $ (28,005) Other comprehensive (loss) income before reclassifications (733) 3,196 2,463 Amounts reclassified from accumulated other comprehensive loss — 748 748 Net current period other comprehensive (loss) income (733) 3,944 3,211 Balance, December 31, 2021 $ (6,783) $ (18,011) $ (24,794) The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the years ended December 31, 2021 and 2020 (dollars in thousands): Amounts reclassified from accumulated other comprehensive loss for the year Affected line item in the ended December 31, statement where net income 2021 2020 is presented Amortization of defined benefit pension items Prior service cost $ (62) (1) $ (63) (1) Other income, net Actuarial losses 1,074 (1) 826 (1) Other income, net Total before tax 1,012 763 Tax benefit (264) (198) Net of tax $ 748 $ 565 (1) These amounts were included in the computation of pension (benefit) expense. See Note 12 for additional details.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2021
INCOME TAXES
INCOME TAXES	14. INCOME TAXES The provision for income taxes included the following components for the years ended December 31, 2021 and 2020: 2021 2020 (Dollars in thousands) Current: Federal $ 3,656 $ (1,954) State 1,235 (154) Foreign 989 784 Total 5,880 (1,324) Deferred 910 2,755 Total provision $ 6,790 $ 1,431 The differences between the U.S. federal statutory income tax rate and the Company’s effective tax rate were as follows for the years ended December 31, 2021 and 2020: 2021 2020 U.S. federal statutory income tax rate 21.0 % 21.0 % State income taxes, net of federal tax benefit 3.3 1.8 Non-taxable municipal bond interest (0.3) 1.3 Net Operating Loss Carryback Under the CARES Act — 10.4 Foreign income tax rate differences 1.6 (24.3) Reversal of deferred tax assets on foreign net operating losses — (28.4) Share-based compensation 0.5 (1.0) Other (1.3) (1.1) Effective tax rate 24.8 % (20.3) % The foreign component of pretax net earnings was earnings of $3.5 million and losses of $5.5 million for 2021 and 2020, respectively. The Company's foreign subsidiaries, Florsheim Australia and Florsheim Europe, had net operating losses in 2020, and the Company determined it was more likely than not that current year tax benefits would not be realized, and recorded no current year tax provision for these entities, causing the majority of 2020’s negative foreign income tax rate differences noted above. The Company also determined it was more likely than not that $2.0 million of deferred tax assets related to foreign tax carryforwards will not be realized, and reversed them in 2020. The components of deferred taxes at December 31, 2021, and 2020 were as follows: 2021 2020 (Dollars in thousands) Deferred income tax assets: Accounts receivable reserves $ 269 $ 269 Pension liability 7,350 8,842 Accrued liabilities 1,578 1,720 Operating lease liabilities 2,848 2,716 Foreign currency losses on intercompany loans 57 58 12,102 13,605 Deferred income tax liabilities: Inventory and related reserves (3,011) (3,149) Cash value of life insurance (545) (485) Property, plant and equipment (1,199) (1,285) Intangible assets (8,539) (7,913) Operating lease right-of-use assets (356) (2,087) Prepaid expenses and other assets (2,415) (365) (16,065) (15,284) Net deferred income tax liabilities $ (3,963) $ (1,679) The net deferred tax liabilities are classified in the Consolidated Balance Sheets as follows: 2021 2020 (Dollars in thousands) Non-current deferred income tax benefits $ 1,063 $ 1,235 Non-current deferred income tax liabilities (5,026) (2,914) Net deferred income tax liabilities $ (3,963) $ (1,679) Uncertain Tax Positions The Company accounts for its uncertain tax positions in accordance with ASC 740, Income Taxes . The following table summarizes the activity related to the Company’s unrecognized tax benefits: 2021 2020 (Dollars in thousands) Unrecognized tax benefits balance at January 1, $ 833 $ 636 Increases related to current year tax positions 8 257 Decreases due to settlements of tax positions (250) — Decreases due to lapsing of statute of limitations (436) (60) Unrecognized tax benefits balance at December 31, $ 155 $ 833 The unrecognized tax benefits at December 31, 2021 and 2020, include $26,000 and $155,000, respectively, of interest related to such positions. The unrecognized tax benefits, if ultimately recognized, would reduce the Company’s annual effective tax rate. The liabilities for potential interest are included in the Consolidated Balance Sheets at December 31, 2021 and 2020. The Company files a U.S. federal income tax return, various U.S. state income tax returns and several foreign returns. In general, the 2018 through 2020 tax years remain subject to examination by those taxing authorities.

COMMITMENTS

COMMITMENTS	12 Months Ended
COMMITMENTS	Dec. 31, 2021
COMMITMENTS
COMMITMENTS	15. COMMITMENTS At December 31, 2021, the Company had purchase commitments of $171.5 million to purchase inventory, all of which were due in less than one year.

SHARE REPURCHASE PROGRAM

SHARE REPURCHASE PROGRAM	12 Months Ended
SHARE REPURCHASE PROGRAM	Dec. 31, 2021
SHARE REPURCHASE PROGRAM
SHARE REPURCHASE PROGRAM	16. SHARE REPURCHASE PROGRAM In 1998, the Company’s share repurchase program was established. On several occasions since the program’s inception, the Board of Directors has extended the number of shares authorized for repurchase under the program. In total, 7.5 million shares have been authorized for repurchase. In 2021, the Company purchased 125,204 shares at a total cost of $2.5 million through its share repurchase program. In 2020, the Company purchased 106,490 shares at a total cost of $2.1 million through its share repurchase program. As of December 31, 2021, there were 210,576 authorized shares remaining under the program.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
EARNINGS PER SHARE	Dec. 31, 2021
EARNINGS PER SHARE
EARNINGS PER SHARE	17. EARNINGS PER SHARE The following table sets forth the computations of basic and diluted earnings per share for the years ended December 31, 2021 and 2020: 2021 2020 (In thousands, except per share amounts) Numerator: Net earnings (loss) $ 20,555 $ (8,485) Denominator: Basic weighted average shares outstanding 9,662 9,757 Effect of dilutive securities: Employee share-based awards 31 — Diluted weighted average shares outstanding 9,693 9,757 Basic earnings (loss) per share $ 2.13 $ (0.87) Diluted earnings (loss) per share $ 2.12 $ (0.87) Diluted weighted average shares outstanding for 2021 exclude anti-dilutive share-based awards totaling 1,109,000 shares at a weighted average price of $26.49. The year ended December 31,2020, resulted in a net loss, therefore there was no difference in the weighted average number of common shares for basic and diluted loss per share as the effect of all potentially dilutive shares outstanding was anti-dilutive. Diluted weighted average shares outstanding for 2020 exclude anti-dilutive share-based awards totaling 1,232,000 shares at a weighted average price of $25.35. Unvested restricted stock awards provide holders with dividend rights prior to vesting, however, such rights are forfeitable if the awards do not vest. As a result, unvested restricted stock awards are not participating securities and are excluded from the computation of earnings per share.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
SEGMENT INFORMATION	Dec. 31, 2021
SEGMENT INFORMATION
SEGMENT INFORMATION	18. SEGMENT INFORMATION The Company has two reportable segments: North American wholesale operations (“Wholesale”) and North American retail operations (“Retail”). The Company’s Chief Executive Officer, evaluates the performance of the Company’s segments based on earnings (loss) from operations. Therefore, interest income or expense, other income or expense, and income taxes are not allocated to the segments. The “other” category in the table below includes the Company’s wholesale and retail operations in Australia, South Africa, Asia Pacific and Europe, which do not meet the criteria for separate reportable segment classification. In the wholesale segment, shoes are marketed through more than 10,000 footwear, department and specialty stores, primarily in the United States and Canada. Licensing revenues are also included in the Company’s wholesale segment. The Company has licensing agreements with third parties who sell its branded apparel, accessories and specialty footwear in the United States, as well as its footwear in Mexico and certain markets overseas. In 2021 and 2020, there was no single customer with sales of 10% or more of the Company’s total sales. In the retail segment, the Company operated e-commerce businesses and four brick and mortar retail stores in the United States at December 31, 2021. Retail sales are made directly to consumers on the Company's websites, or by Company employees. Retail stores sell the Company’s branded footwear, primarily Florsheim, and accessories. The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies. Summarized segment data for the years ended December 31, 2021 and 2020 was as follows: Wholesale Retail Other Total (Dollars in thousands) 2021 Product sales $ 203,649 $ 31,595 $ 30,660 $ 265,904 Licensing revenues 1,737 — — 1,737 Net sales 205,386 31,595 30,660 267,641 Depreciation 1,995 4 491 2,490 Earnings (loss) from operations 19,455 6,651 (404) 25,702 Total assets 246,983 6,263 24,421 277,667 Capital expenditures 453 17 537 1,007 2020 Product sales $ 151,012 $ 21,499 $ 21,690 $ 194,201 Licensing revenues 1,174 — — 1,174 Net sales 152,186 21,499 21,690 195,375 Depreciation 1,973 211 717 2,901 Earnings (loss) from operations 975 (1,073) (7,500) (7,598) Total assets 222,255 7,374 27,090 256,719 Capital expenditures 3,095 30 243 3,368 All North American corporate office assets are included in the wholesale segment. Transactions between segments primarily consist of sales between the wholesale and retail segments. Intersegment sales are valued at the cost of inventory plus an estimated cost to ship the products. Intersegment sales have been eliminated and are excluded from net sales in the above table. Geographic Segments Financial information relating to the Company’s business by geographic area was as follows for the years ended December 31, 2021 and 2020: 2021 2020 (Dollars in thousands) Net Sales United States $ 215,754 $ 155,955 Canada 21,227 17,730 Europe 2,309 2,600 Australia 21,218 15,252 Asia 3,198 1,969 South Africa 3,935 1,869 Total $ 267,641 $ 195,375 Long-Lived Assets United States $ 79,486 $ 77,975 Other 9,434 9,756 $ 88,920 $ 87,731 Net sales attributed to geographic locations are based on the location of the assets producing the sales. Long-lived assets by geographic location consist of property, plant and equipment (net), operating lease ROU assets, goodwill, trademarks, investment in real estate and amortizable intangible assets.

SHARE-BASED COMPENSATION PLANS

SHARE-BASED COMPENSATION PLANS	12 Months Ended
SHARE-BASED COMPENSATION PLANS	Dec. 31, 2021
SHARE-BASED COMPENSATION PLANS
SHARE-BASED COMPENSATION PLANS	19. SHARE-BASED COMPENSATION PLANS At December 31, 2021, the Company had two share-based compensation plans: the 2014 Incentive Plan and the 2017 Incentive Plan (collectively, “the Plans”). Awards are no longer granted under the 2014 Incentive Plan; however, awards previously granted under such plan continue in accordance with their terms. Options to purchase common stock were granted to officers and key employees at exercise prices not less than the fair market value of the Company’s common stock on the date of the grant, and the Company also grants restricted stock awards. The Company issues new common stock to satisfy stock option exercises as well as the issuance of restricted stock awards. Stock options and restricted stock awards were granted in both 2021 and 2020. Stock options and restricted stock awards are valued at fair market value based on the Company’s closing stock price on the date of grant. Stock options granted in 2021 and 2020 vest ratably over five years and expire 10 years from the grant date. Restricted stock granted in 2021 and 2020 vests ratably over four years. As of December 31, 2021, there were approximately 440,000 shares remaining available for share-based awards under the 2017 Incentive Plan. Stock option exercises can be net share settled such that the Company withholds shares with value equivalent to the exercise price of the stock option awards plus the employees’ minimum statutory obligation for the applicable income and other employment taxes. The net share settlement has the effect of share repurchases by the Company as they reduce the number of shares that would have otherwise been issued. In 2021, approximately 1,000 shares were withheld , and were based on the value of the stock on the exercise dates. Total payments made by the Company for the employees’ tax obligations to the taxing authorities were insignificant In accordance with ASC 718, share-based compensation expense of approximately $1.6 million and $1.4 million was recognized in 2021 and 2020, respectively, for stock options and restricted stock awards granted since 2015. An estimate of forfeitures, based on historical data, was included in the calculation of share-based compensation. During 2021, the Company's Board of Directors approved extending the expiration date of stock options granted in years 2015 and 2016. The original expiration date of the stock options granted in 2015 was August 25, 2021, and was extended by two years to August 25, 2023. The original expiration date of the stock options granted in 2016 was August 25, 2022, and was extended by one year to August 25, 2023. The Company recorded an additional $232,000 of compensation expense in 2021 due to the extension of the exercise periods. At December 31, 2021, there was $1.8 million of total unrecognized compensation cost related to non-vested stock options granted in the years 2017 through 2021 which is expected to be recognized over the weighted-average remaining vesting period of 3.5 years. At December 31, 2020, there was $1.5 million of total unrecognized compensation cost related to non-vested stock options granted in the years 2017 through 2020 which is expected to be recognized over the weighted-average remaining vesting period of 3.2 years. The following weighted-average assumptions were used to determine compensation expense related to stock options in 2021 and 2020: 2021 2020 Risk-free interest rate 1.13 % 0.54 % Expected dividend yield 4.00 % 5.33 % Expected term 8.0 8.0 Expected volatility 28.5 % 26.4 % The risk-free interest rate is based on U.S. Treasury bonds with a remaining term equal to the expected term of the award. The expected dividend yield is based on the Company’s expected annual dividend as a percentage of the market value of the Company’s common stock in the year of grant. The expected term of the stock options is determined using historical experience. The expected volatility is based upon historical stock prices over the most recent period equal to the expected term of the award. The following tables summarize stock option activity under the Company’s plans: Stock Options Years ended December 31, 2021 2020 Weighted Average Weighted Average Stock Options Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 1,125,383 $ 25.62 1,176,770 $ 27.14 Granted 186,900 24.00 188,600 18.00 Exercised (1,300) 18.00 — — Forfeited or expired (31,150) 24.06 (239,987) 27.09 Outstanding at end of year 1,279,833 $ 25.44 1,125,383 $ 25.62 Exercisable at end of year 768,522 $ 26.58 640,012 $ 26.77 Weighted average fair market value of options granted $ 4.16 $ 2.01 Weighted Average Remaining Contractual Life (in Years) Aggregate Intrinsic Value Outstanding - December 31, 2021 5.6 $ 1,147,000 Exercisable - December 31, 2021 3.8 $ 257,000 The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company’s stock on December 31, 2021 of $23.94 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options. Non-vested Stock Options Weighted Average Weighted Average Number of Options Exercise Price Fair Value Non-vested - December 31, 2019 473,740 $ 27.77 $ 4.26 Granted 188,600 18.00 2.01 Vested (165,824) 27.48 3.99 Forfeited (11,145) 27.54 4.27 Non-vested - December 31, 2020 485,371 $ 24.08 $ 3.48 Granted 186,900 24.00 4.16 Vested (137,180) 25.65 3.83 Forfeited (23,780) 23.97 3.48 Non-vested - December 31, 2021 511,311 $ 23.63 $ 3.64 The following table summarizes information about outstanding and exercisable stock options at December 31, 2021: Options Outstanding Options Exercisable Weighted Average Number of Remaining Weighted Number of Weighted Options Contractual Life Average Options Average Range of Exercise Prices Outstanding (in Years) Exercise Price Exercisable Exercise Price $18.00 176,800 8.7 $ 18.00 36,480 $ 18.00 $23.38 to $25.86 796,500 4.8 $ 24.73 509,844 $ 25.27 $27.94 to $37.22 306,533 6.0 $ 31.56 222,198 $ 30.99 1,279,833 5.6 $ 25.44 768,522 $ 26.58 The following table summarizes stock option activity for the years ended December 31: 2021 2020 (Dollars in thousands) Total intrinsic value of stock options exercised $ 8 $ — Net proceeds from stock option exercises $ 2 $ — Income tax benefit from the exercise of stock options $ 2 $ — Total fair value of stock options vested $ 525 $ 661 Restricted Stock The following table summarizes restricted stock award activity during the years ended December 31, 2020 and 2021: Shares of Restricted Weighted Average Stock Grant Date Fair Value Non-vested - December 31, 2019 68,735 $ 28.04 Issued 30,800 18.00 Vested (27,045) 28.04 Forfeited — — Non-vested - December 31, 2020 72,490 $ 23.77 Issued 36,325 24.00 Vested (30,345) 25.75 Forfeited — — Non-vested - December 31, 2021 78,470 $ 23.11 At December 31, 2021, the Company expected 78,470 shares of restricted stock to vest over a weighted-average remaining contractual term of 2.8 years. These shares had an aggregate intrinsic value of $1.0 million at December 31, 2021. The aggregate intrinsic value was calculated using the market value of the Company’s stock on December 31, 2021 of $23.94 multiplied by the number of non-vested restricted shares outstanding. The income tax benefit from the vesting of restricted stock for the years ended December 31 was $184,000 in 2021 and $127,000 in 2020.

VALUATION AND QUALIFYING ACCOUN

VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
VALUATION AND QUALIFYING ACCOUNTS	Dec. 31, 2021
VALUATION AND QUALIFYING ACCOUNTS
VALUATION AND QUALIFYING ACCOUNTS	20. VALUATION AND QUALIFYING ACCOUNTS Deducted from Assets Doubtful Returns and Accounts Allowances Total (Dollars in thousands) BALANCE, DECEMBER 31, 2019 $ 986 $ 1,423 $ 2,409 Add - Additions charged to earnings 5,289 3,380 8,669 Deduct - Charges for purposes for which reserves were established (4,850) (3,562) (8,412) BALANCE, DECEMBER 31, 2020 $ 1,425 $ 1,241 $ 2,666 Add - Additions charged to earnings 198 2,997 3,195 Deduct - Charges for purposes for which reserves were established (316) (3,478) (3,794) BALANCE, DECEMBER 31, 2021 $ 1,307 $ 760 $ 2,067

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation	Principles of Consolidation
Use of Estimates	Use of Estimates
Cash and Cash Equivalents	Cash and Cash Equivalents
Investments	Investments Investments – Debt and Equity Securities,
Accounts Receivable	Accounts Receivable – Two of the Company’s large customers filed for bankruptcy during 2020. J.C. Penney Company, Inc. and affiliated entities (“JCP”) filed for bankruptcy in May 2020, and Tailored Brands, Inc. (“TB”) filed for bankruptcy in August 2020. The Company wrote off $4.3 million (net) in connection with these bankruptcy filings during 2020.
Inventories	Inventories
Property, Plant and Equipment and Depreciation	Property, Plant and Equipment and Depreciation
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets
Leases	Leases - ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date for leases exceeding 12 months. Minimum lease payments include only the fixed lease component of the agreement, as well as any variable rate payments that depend on an index, initially measured using the index at the lease commencement date. Lease terms may include options to renew when it is reasonably certain that the Company will exercise that option. As the Company’s leases generally do not provide an implicit rate, the Company used its incremental borrowing rate in determining the present value of lease payments. The incremental borrowing rate was a hypothetical rate based on an understanding of what the Company could borrow from a third-party lender, on a collateralized basis, over a similar term, and in an amount that approximates the value of the Company’s future lease payments. The Company used a portfolio approach and applied a single discount rate to all of its leases. Operating lease costs are recognized on a straight-line basis over the lease term and are included in selling and administrative expenses. Variable lease payments that do not depend on a rate or index, payments associated with non-lease components, and short-term rentals (leases with terms less than 12 months) are expensed as incurred. See Note 8.
Goodwill	Goodwill -
Intangible Assets (excluding Goodwill)	Intangible Assets (excluding Goodwill)
Life Insurance	Life Insurance –
Income Taxes	Income Taxes -
Revenue Recognition	Revenue Recognition transfers to the customer are treated as fulfillment activities, not as a separate performance obligation. Retail revenue is generated primarily from the sale of footwear to customers through the Company’s websites and at retail locations. For sales made through the Company’s websites, revenue is recognized upon shipment to the customer. For in-store sales, the Company recognizes revenue at the point of sale. Sales taxes collected from website or retail sales are excluded from the Company’s reported net sales. Revenue from third-party licensing agreements is recognized in the period earned. Licensing revenues were $1.7 million in 2021 and $1.2 million in 2020. All revenue is recorded net of estimated allowances for returns and discounts; these revenue offsets are accrued for at the time of sale. The Company’s estimates of allowances for returns and discounts are based on such factors as specific customer situations, historical experience, and current and expected economic conditions. The Company evaluates the reserves and the estimation process and makes adjustments when appropriate. Generally, payments from customers are received within 90 days following the sale. The Company’s contracts with customers do not have significant financing components or significant prepayments from customers, and there is no non-cash consideration. The Company does not have unbilled revenue, and there are no contract assets and liabilities.
Shipping and Handling Fees	Shipping and Handling Fees Selling and Administrative Expenses
Cost of Sales	Cost of Sales
Selling and Administrative Expenses	Selling and Administrative Expenses -
Advertising Costs	Advertising Costs -
Foreign Currency Translations	Foreign Currency Translations Foreign Currency Matters
Foreign Currency Transactions	Foreign Currency Transactions -
Financial Instruments	Financial Instruments – Realized gains and losses on foreign exchange contracts are related to the purchase and sale of inventory and therefore are included in the Company’s net sales or cost of sales. In 2021 and 2020, realized gains and losses on foreign exchange contracts were not material to the Company’s financial statements.
Earnings Per Share	Earnings Per Share
Comprehensive Income (Loss)	Comprehensive Income (Loss) –
Share-Based Compensation	Share-Based Compensation - Compensation – Stock Compensation
Concentration of Credit Risk	Concentration of Credit Risk
New Accounting Pronouncements -	New Accounting Pronouncements Recently Adopted On January 1, 2021, the Company adopted Accounting Standards Update ("ASU") 2019-12 Simplifying the Accounting for Income Taxes In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurements of Credit Losses on Financial Instruments

ACQUISITION (Tables)

ACQUISITION (Tables)	12 Months Ended
ACQUISITION (Tables)	Dec. 31, 2021
ACQUISITION
Schedule of fair values assigned to the assets acquired and liabilities assumed as of the acquisition date	(Dollars in thousands) Accounts receivable, net $ 143 Inventories 619 Prepaid expenses and other current assets 72 Property, plant and equipment, net 17 Goodwill 1,205 Trademark 1,900 Accrued Liabilities (48) Total $ 3,908

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
INVESTMENTS (Tables)	Dec. 31, 2021
INVESTMENTS
Schedule of Marketable securities	Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of December 31, 2021 and 2020. The estimated market values provided are Level 2 valuations as defined by ASC 820. 2021 2020 Amortized Cost Market Value Amortized Cost Market Value (Dollars in thousands) Municipal bonds: Current $ 219 $ 223 $ 2,215 $ 2,249 Due from one through five years 6,503 6,805 7,420 7,830 Due from six through ten years 2,479 2,790 3,057 3,608 Due from eleven through twenty years 1,014 1,102 2,323 2,547 Total $ 10,215 $ 10,920 $ 15,015 $ 16,234
Schedule of Unrealized gains and losses on marketable securities	The unrealized gains and losses on marketable securities at December 31, 2021 and 2020 were as follows: 2021 2020 Unrealized Unrealized Unrealized Unrealized Gains Losses Gains Losses (Dollars in thousands) Municipal bonds $ 705 $ — $ 1,219 $ —

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
INVENTORIES (Tables)	Dec. 31, 2021
INVENTORIES
Schedule of Inventory	At December 31, 2021 and 2020, inventories consisted of: 2021 2020 (Dollars in thousands) Finished shoes $ 99,244 $ 78,158 LIFO reserve (28,218) (19,133) Total inventories $ 71,026 $ 59,025

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	Dec. 31, 2021
PROPERTY, PLANT AND EQUIPMENT, NET.
Schedule of Property, Plant and Equipment	At December 31, 2021 and 2020, property, plant and equipment consisted of: 2021 2020 (Dollars in thousands) Land and land improvements $ 3,793 $ 3,793 Buildings and improvements 32,191 32,154 Machinery and equipment 36,031 36,380 Retail fixtures and leasehold improvements 3,732 3,830 Construction in progress 701 637 Property, plant and equipment 76,448 76,794 Less: Accumulated depreciation (47,246) (46,035) Property, plant and equipment, net $ 29,202 $ 30,759

LEASES (Tables)

LEASES (Tables)	12 Months Ended
LEASES (Tables)	Dec. 31, 2021
LEASES
Schedule of operating lease costs	The components of the Company’s operating lease costs were as follows: Twelve Months Ended December 31, 2021 2020 (Dollars in thousands) Operating lease costs $ 5,045 $ 6,714 Variable lease costs (1) 82 30 Total lease costs $ 5,127 $ 6,744 (1) Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts.
Schedule of maturities of operating lease liabilities	The following is a schedule of maturities of operating lease liabilities as of December 31, 2021: Operating Leases (Dollars in thousands) 2022 $ 3,906 2023 2,963 2024 2,073 2025 1,358 2026 1,009 Thereafter 719 Total lease payments 12,028 Less imputed interest (915) Present value of lease liabilities $ 11,113 The operating lease liabilities are classified in the consolidated balance sheets as follows: December 31, December 31, 2021 2020 (Dollars in thousands) Operating lease liabilities - current $ 3,593 $ 4,245 Operating lease liabilities - non-current 7,520 7,734 Total $ 11,113 $ 11,979
Schedule of supplemental cash flow information	Supplemental cash flow information related to the Company’s operating leases is as follows: Twelve Months Ended December 31, 2021 2020 (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 4,888 $ 6,746 Right-of-use assets obtained in exchange for new lease liabilities (noncash) $ 5,334 $ 216

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
INTANGIBLE ASSETS (Tables)	Dec. 31, 2021
INTANGIBLE ASSETS
Schedule of indefinite-lived intangible assets	The Company’s indefinite-lived intangible assets as recorded in the Consolidated Balance Sheets were as follows: December 31, 2021 December 31, 2020 (Dollars in thousands) Indefinite-lived intangibles: Goodwill $ 12,317 $ 11,112 Trademarks 34,768 32,868 Total $ 47,085 $ 43,980
Schedule of Changes in the carrying amount of the Company's goodwill by reportable segment	The additional goodwill and trademarks in 2021 resulted from the Forsake acquisition. Goodwill resulting from the Forsake acquisition has been allocated to the Company’s wholesale and retail segments as of the acquisition date. Changes in the carrying amount of the Company’s goodwill by reportable segment for the year ended December 31, 2021, were as follows: Wholesale Retail Total (Dollars in thousands) Balance, December 31, 2020 $ 11,112 $ — $ 11,112 Acquisition of business 361 844 1,205 Balance, December 31, 2021 $ 11,473 $ 844 $ 12,317
Schedule of Company's amortizable intangible assets	The Company’s amortizable intangible assets as recorded in the Consolidated Balance Sheets consisted of the following: December 31, 2021 December 31, 2020 Weighted Gross Gross Average Carrying Accumulated Carrying Accumulated Life (Years) Amount Amortization Net Amount Amortization Net (Dollars in thousands) (Dollars in thousands) Amortizable intangible assets Customer relationships 15 $ 3,500 $ (2,528) $ 972 $ 3,500 $ (2,294) $ 1,206 Total amortizable intangible assets $ 3,500 $ (2,528) $ 972 $ 3,500 $ (2,294) $ 1,206

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
OTHER ASSETS (Tables)	Dec. 31, 2021
OTHER ASSETS
Schedule of Other Assets	Other assets included the following amounts at December 31, 2021 and 2020: 2021 2020 (Dollars in thousands) Cash surrender value of life insurance $ 19,194 $ 18,447 Amortizable intangible assets, net (See Note 9) 972 1,206 Investment in real estate 2,118 2,173 Other 1,317 2,175 Total other assets $ 23,601 $ 24,001

EMPLOYEE RETIREMENT PLANS (Tabl

EMPLOYEE RETIREMENT PLANS (Tables)	12 Months Ended
EMPLOYEE RETIREMENT PLANS (Tables)	Dec. 31, 2021
EMPLOYEE RETIREMENT PLANS
Schedule of pension plan weighted average assets allocation	The Company’s pension plan’s weighted average asset allocation at December 31, 2021 and 2020, by asset category, was as follows: Plan Assets at December 31, 2021 2020 Asset Category: Equity Securities 60 % 59 % Fixed Income Securities 30 % 32 % Other 10 % 9 % Total 100 % 100 %
Schedule of funded status of pension plans	The following discount rates were used to determine the funded status of the pension plans as of December 31, 2021 and 2020: Defined Benefit Pension Plan Supplemental Pension Plan 2021 2020 2021 2020 Discount rate for determining funded status 2.83 % 2.47 % 2.86 % 2.51 %
Schedule of change in benefit obligation and plan assets	The following is a reconciliation of the change in benefit obligation and plan assets of both the defined benefit pension plan and the unfunded supplemental pension plan for the years ended December 31, 2021 and 2020: Defined Benefit Pension Plan Supplemental Pension Plan 2021 2020 2021 2020 (Dollars in thousands) Change in projected benefit obligation Projected benefit obligation, beginning of year $ 56,026 $ 50,552 $ 21,125 $ 18,460 Service cost 382 383 — — Interest cost 1,047 1,450 440 562 Actuarial (gain) loss (2,366) 6,067 (840) 2,485 Benefits paid (2,582) (2,426) (382) (382) Projected benefit obligation, end of year $ 52,507 $ 56,026 $ 20,343 $ 21,125 Change in plan assets Fair value of plan assets, beginning of year $ 43,144 $ 41,036 $ — $ — Actual return on plan assets 4,402 4,917 — — Administrative expenses (382) (383) — — Contributions — — 382 382 Benefits paid (2,582) (2,426) (382) (382) Fair value of plan assets, end of year $ 44,582 $ 43,144 $ — $ — Funded status of plan $ (7,925) $ (12,882) $ (20,343) $ (21,125) Amounts recognized in the consolidated balance sheets consist of: Accrued liabilities - other $ — $ — $ (492) $ (473) Long-term pension liability (7,925) (12,882) (19,851) (20,652) Net amount recognized $ (7,925) $ (12,882) $ (20,343) $ (21,125) Amounts recognized in accumulated other comprehensive loss consist of: Accumulated loss, net of income tax benefit of $4,331, $5,435, $1,976, and $2,275, respectively $ 12,328 $ 15,468 $ 5,624 $ 6,475 Prior service cost net of income tax benefit of $0, $0, $20 and $4, respectively — — 59 12 Net amount recognized $ 12,328 $ 15,468 $ 5,683 $ 6,487
Schedule of net periodic pension cost	Assumptions used in determining pension expense for the years ended December 31, 2021 and 2020 were: Defined Benefit Pension Plan Supplemental Pension Plan 2021 2020 2021 2020 Discount rate for projected benefit obligation 2.47 % 3.35 % 2.51 % 3.38 % Discount rate for determining interest cost 1.91 % 2.92 % 2.10 % 3.07 % Long-term rate of return on plan assets 7.00 % 7.00 % — —
Schedule of Company's pension (benefit) expense	The components of pension (benefit) expense for the years ended December 31, 2021 and 2020, were: 2021 2020 (Dollars in thousands) Service cost $ 382 $ 383 Interest cost 1,487 2,012 Expected return on plan assets (2,907) (2,761) Net amortization and deferral 1,012 763 Pension (benefit) expense $ (26) $ 397
Schedule of projected benefit payments for the plans	Projected benefit payments for the plans at December 31, 2021, were estimated as follows: Defined Benefit Supplemental Pension Plan Pension Plan (Dollars in thousands) 2022 $ 2,843 $ 492 2023 $ 2,900 $ 679 2024 $ 2,911 $ 757 2025 $ 2,905 $ 899 2026 $ 2,899 $ 965 2027 - 2031 $ 14,369 $ 5,925
Schedule of fair value hierarchy	The following table summarizes the fair value of the Company’s pension plan assets at December 31, 2021, by asset category within the fair value hierarchy (for further level information, see Note 4): December 31, 2021 Quoted Prices Significant Significant in Active Markets Observable Inputs Unobservable Inputs Level 1 Level 2 Level 3 Total (Dollars in thousands) Common stocks $ 18,493 $ 1,934 $ — $ 20,427 Preferred stocks 247 31 — 278 Exchange traded funds 6,324 — — 6,324 Corporate obligations — 4,795 — 4,795 State and municipal obligations — 512 — 512 Pooled fixed income funds 6,953 — — 6,953 U.S. government securities — 659 — 659 Cash and cash equivalents 4,573 — — 4,573 Subtotal $ 36,590 $ 7,931 $ — $ 44,521 Other assets (1) 61 Total $ 44,582 (1) The following table summarizes the fair value of the Company’s pension plan assets at December 31, 2020, by asset category within the fair value hierarchy (for further level information, see Note 4): December 31, 2020 Quoted Prices Significant Significant in Active Markets Observable Inputs Unobservable Inputs Level 1 Level 2 Level 3 Total (Dollars in thousands) Common stocks $ 17,194 $ 2,196 $ — $ 19,390 Preferred stocks 245 27 — 272 Exchange traded funds 6,033 — — 6,033 Corporate obligations — 4,349 — 4,349 State and municipal obligations — 821 — 821 Pooled fixed income funds 7,117 — — 7,117 U.S. government securities — 763 — 763 Marketable CD’s — 513 — 513 Cash and cash equivalents 3,817 — — 3,817 Subtotal $ 34,406 $ 8,669 $ — $ 43,075 Other assets (1) 69 Total $ 43,144

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	12 Months Ended
Comprehensive Income (Loss) (Tables)	Dec. 31, 2021
Comprehensive Income (Loss)
Schedule of accumulated other comprehensive loss	The components of accumulated other comprehensive loss as recorded on the accompanying Consolidated Balance Sheets were as follows: 2021 2020 (Dollars in thousands) Foreign currency translation adjustments $ (6,783) $ (6,050) Pension liability, net of tax (18,011) (21,955) Total accumulated other comprehensive loss $ (24,794) $ (28,005)
Schedule of changes in accumulated other comprehensive loss	The following presents a tabular disclosure about changes in accumulated other comprehensive loss (dollars in thousands): Foreign Currency Translation Defined Benefit Adjustments Pension Items Total Balance, December 31, 2019 $ (7,033) $ (17,503) $ (24,536) Other comprehensive income (loss) before reclassifications 983 (5,017) (4,034) Amounts reclassified from accumulated other comprehensive loss — 565 565 Net current period other comprehensive income (loss) 983 (4,452) (3,469) Balance, December 31, 2020 $ (6,050) $ (21,955) $ (28,005) Other comprehensive (loss) income before reclassifications (733) 3,196 2,463 Amounts reclassified from accumulated other comprehensive loss — 748 748 Net current period other comprehensive (loss) income (733) 3,944 3,211 Balance, December 31, 2021 $ (6,783) $ (18,011) $ (24,794)
Schedule of reclassification adjustments out of accumulated other comprehensive loss	The following presents a tabular disclosure about reclassification adjustments out of accumulated other comprehensive loss during the years ended December 31, 2021 and 2020 (dollars in thousands): Amounts reclassified from accumulated other comprehensive loss for the year Affected line item in the ended December 31, statement where net income 2021 2020 is presented Amortization of defined benefit pension items Prior service cost $ (62) (1) $ (63) (1) Other income, net Actuarial losses 1,074 (1) 826 (1) Other income, net Total before tax 1,012 763 Tax benefit (264) (198) Net of tax $ 748 $ 565 (1) These amounts were included in the computation of pension (benefit) expense. See Note 12 for additional details.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2021
INCOME TAXES
Schedule of provision for Income Tax	The provision for income taxes included the following components for the years ended December 31, 2021 and 2020: 2021 2020 (Dollars in thousands) Current: Federal $ 3,656 $ (1,954) State 1,235 (154) Foreign 989 784 Total 5,880 (1,324) Deferred 910 2,755 Total provision $ 6,790 $ 1,431
Schedule of effective tax rate	The differences between the U.S. federal statutory income tax rate and the Company’s effective tax rate were as follows for the years ended December 31, 2021 and 2020: 2021 2020 U.S. federal statutory income tax rate 21.0 % 21.0 % State income taxes, net of federal tax benefit 3.3 1.8 Non-taxable municipal bond interest (0.3) 1.3 Net Operating Loss Carryback Under the CARES Act — 10.4 Foreign income tax rate differences 1.6 (24.3) Reversal of deferred tax assets on foreign net operating losses — (28.4) Share-based compensation 0.5 (1.0) Other (1.3) (1.1) Effective tax rate 24.8 % (20.3) %
Schedule of components of deferred taxes	The components of deferred taxes at December 31, 2021, and 2020 were as follows: 2021 2020 (Dollars in thousands) Deferred income tax assets: Accounts receivable reserves $ 269 $ 269 Pension liability 7,350 8,842 Accrued liabilities 1,578 1,720 Operating lease liabilities 2,848 2,716 Foreign currency losses on intercompany loans 57 58 12,102 13,605 Deferred income tax liabilities: Inventory and related reserves (3,011) (3,149) Cash value of life insurance (545) (485) Property, plant and equipment (1,199) (1,285) Intangible assets (8,539) (7,913) Operating lease right-of-use assets (356) (2,087) Prepaid expenses and other assets (2,415) (365) (16,065) (15,284) Net deferred income tax liabilities $ (3,963) $ (1,679)
Schedule of net deferred tax liabilities	The net deferred tax liabilities are classified in the Consolidated Balance Sheets as follows: 2021 2020 (Dollars in thousands) Non-current deferred income tax benefits $ 1,063 $ 1,235 Non-current deferred income tax liabilities (5,026) (2,914) Net deferred income tax liabilities $ (3,963) $ (1,679)
Schedule of unrecognized tax benefits	The following table summarizes the activity related to the Company’s unrecognized tax benefits: 2021 2020 (Dollars in thousands) Unrecognized tax benefits balance at January 1, $ 833 $ 636 Increases related to current year tax positions 8 257 Decreases due to settlements of tax positions (250) — Decreases due to lapsing of statute of limitations (436) (60) Unrecognized tax benefits balance at December 31, $ 155 $ 833

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
EARNINGS PER SHARE (Tables)	Dec. 31, 2021
EARNINGS PER SHARE
Schedule of computation of basic and diluted earnings per share	The following table sets forth the computations of basic and diluted earnings per share for the years ended December 31, 2021 and 2020: 2021 2020 (In thousands, except per share amounts) Numerator: Net earnings (loss) $ 20,555 $ (8,485) Denominator: Basic weighted average shares outstanding 9,662 9,757 Effect of dilutive securities: Employee share-based awards 31 — Diluted weighted average shares outstanding 9,693 9,757 Basic earnings (loss) per share $ 2.13 $ (0.87) Diluted earnings (loss) per share $ 2.12 $ (0.87)

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
SEGMENT INFORMATION (Tables)	Dec. 31, 2021
SEGMENT INFORMATION
Schedule of Segment Reporting Information	The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies. Summarized segment data for the years ended December 31, 2021 and 2020 was as follows: Wholesale Retail Other Total (Dollars in thousands) 2021 Product sales $ 203,649 $ 31,595 $ 30,660 $ 265,904 Licensing revenues 1,737 — — 1,737 Net sales 205,386 31,595 30,660 267,641 Depreciation 1,995 4 491 2,490 Earnings (loss) from operations 19,455 6,651 (404) 25,702 Total assets 246,983 6,263 24,421 277,667 Capital expenditures 453 17 537 1,007 2020 Product sales $ 151,012 $ 21,499 $ 21,690 $ 194,201 Licensing revenues 1,174 — — 1,174 Net sales 152,186 21,499 21,690 195,375 Depreciation 1,973 211 717 2,901 Earnings (loss) from operations 975 (1,073) (7,500) (7,598) Total assets 222,255 7,374 27,090 256,719 Capital expenditures 3,095 30 243 3,368
Schedule of Company's business by geographic area	Financial information relating to the Company’s business by geographic area was as follows for the years ended December 31, 2021 and 2020: 2021 2020 (Dollars in thousands) Net Sales United States $ 215,754 $ 155,955 Canada 21,227 17,730 Europe 2,309 2,600 Australia 21,218 15,252 Asia 3,198 1,969 South Africa 3,935 1,869 Total $ 267,641 $ 195,375 Long-Lived Assets United States $ 79,486 $ 77,975 Other 9,434 9,756 $ 88,920 $ 87,731

SHARE-BASED COMPENSATION PLANS

SHARE-BASED COMPENSATION PLANS (Tables)	12 Months Ended
SHARE-BASED COMPENSATION PLANS (Tables)	Dec. 31, 2021
SHARE-BASED COMPENSATION PLANS
Schedule of Weighted average stock options assumptions	The following weighted-average assumptions were used to determine compensation expense related to stock options in 2021 and 2020: 2021 2020 Risk-free interest rate 1.13 % 0.54 % Expected dividend yield 4.00 % 5.33 % Expected term 8.0 8.0 Expected volatility 28.5 % 26.4 %
Schedule of Company's stock option activity	The following tables summarize stock option activity under the Company’s plans: Stock Options Years ended December 31, 2021 2020 Weighted Average Weighted Average Stock Options Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 1,125,383 $ 25.62 1,176,770 $ 27.14 Granted 186,900 24.00 188,600 18.00 Exercised (1,300) 18.00 — — Forfeited or expired (31,150) 24.06 (239,987) 27.09 Outstanding at end of year 1,279,833 $ 25.44 1,125,383 $ 25.62 Exercisable at end of year 768,522 $ 26.58 640,012 $ 26.77 Weighted average fair market value of options granted $ 4.16 $ 2.01 Weighted Average Remaining Contractual Life (in Years) Aggregate Intrinsic Value Outstanding - December 31, 2021 5.6 $ 1,147,000 Exercisable - December 31, 2021 3.8 $ 257,000
Schedule of Non-vested stock options	Weighted Average Weighted Average Number of Options Exercise Price Fair Value Non-vested - December 31, 2019 473,740 $ 27.77 $ 4.26 Granted 188,600 18.00 2.01 Vested (165,824) 27.48 3.99 Forfeited (11,145) 27.54 4.27 Non-vested - December 31, 2020 485,371 $ 24.08 $ 3.48 Granted 186,900 24.00 4.16 Vested (137,180) 25.65 3.83 Forfeited (23,780) 23.97 3.48 Non-vested - December 31, 2021 511,311 $ 23.63 $ 3.64
Summary of Outstanding and exercisable stock options	The following table summarizes information about outstanding and exercisable stock options at December 31, 2021: Options Outstanding Options Exercisable Weighted Average Number of Remaining Weighted Number of Weighted Options Contractual Life Average Options Average Range of Exercise Prices Outstanding (in Years) Exercise Price Exercisable Exercise Price $18.00 176,800 8.7 $ 18.00 36,480 $ 18.00 $23.38 to $25.86 796,500 4.8 $ 24.73 509,844 $ 25.27 $27.94 to $37.22 306,533 6.0 $ 31.56 222,198 $ 30.99 1,279,833 5.6 $ 25.44 768,522 $ 26.58
Schedule of Company's stock option exercise activity	The following table summarizes stock option activity for the years ended December 31: 2021 2020 (Dollars in thousands) Total intrinsic value of stock options exercised $ 8 $ — Net proceeds from stock option exercises $ 2 $ — Income tax benefit from the exercise of stock options $ 2 $ — Total fair value of stock options vested $ 525 $ 661
Schedule of Company's restricted stock award	The following table summarizes restricted stock award activity during the years ended December 31, 2020 and 2021: Shares of Restricted Weighted Average Stock Grant Date Fair Value Non-vested - December 31, 2019 68,735 $ 28.04 Issued 30,800 18.00 Vested (27,045) 28.04 Forfeited — — Non-vested - December 31, 2020 72,490 $ 23.77 Issued 36,325 24.00 Vested (30,345) 25.75 Forfeited — — Non-vested - December 31, 2021 78,470 $ 23.11

VALUATION AND QUALIFYING ACCO_2

VALUATION AND QUALIFYING ACCOUNTS (Tables)	12 Months Ended
VALUATION AND QUALIFYING ACCOUNTS (Tables)	Dec. 31, 2021
VALUATION AND QUALIFYING ACCOUNTS
Schedule Of Valuation And Qualifying Accounts	Deducted from Assets Doubtful Returns and Accounts Allowances Total (Dollars in thousands) BALANCE, DECEMBER 31, 2019 $ 986 $ 1,423 $ 2,409 Add - Additions charged to earnings 5,289 3,380 8,669 Deduct - Charges for purposes for which reserves were established (4,850) (3,562) (8,412) BALANCE, DECEMBER 31, 2020 $ 1,425 $ 1,241 $ 2,666 Add - Additions charged to earnings 198 2,997 3,195 Deduct - Charges for purposes for which reserves were established (316) (3,478) (3,794) BALANCE, DECEMBER 31, 2021 $ 1,307 $ 760 $ 2,067

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
NATURE OF OPERATIONS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financial Statements
Net sales	$ 267,641	$ 195,375

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)customer	Dec. 31, 2021AUD ($)
Accounting Policies [Line Items]
Accounts receivable, less allowances of $2,067 and $2,666, respectively	$ 53,287	$ 34,631
Impairment of retail store fixed assets		1,900
Impairment of operating lease right-of-use assets		1,200
Asset Impairment Charges	1,100
Selling Expense	15,500	14,800
Advertising Expense	9,700	7,600
Bankruptcy amount of claims		$ 4,300
J.C. Penney Company, Inc
Accounting Policies [Line Items]
Number of customers files for bankruptcy \| customer		2
Florsheim Australia Pty Ltd [Member]
Accounting Policies [Line Items]
Foreign exchange contracts outstanding	3,500		$ 4.7
Royalty [Member]
Accounting Policies [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 1,700	$ 1,200
Accounts Receivable [Member]
Accounting Policies [Line Items]
Concentration Risk, Customer	There was one individual customer accounts receivable balance outstanding that represented 13% of the Company’s gross accounts receivable balance at December 31, 2021. There was one individual customer accounts receivable balance outstanding that was 15% of the Company’s gross accounts receivable balance at December 31, 2020.
Building and Building Improvements [Member] \| Minimum [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Building and Building Improvements [Member] \| Maximum [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	39 years
Machinery and Equipment [Member] \| Minimum [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Furniture and Fixtures [Member] \| Minimum [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Furniture and Fixtures [Member] \| Maximum [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	15 years

ACQUISITION (Details)

ACQUISITION (Details) - USD ($) $ in Thousands	Jun. 07, 2021	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 12,317	$ 11,112
Sales Revenue Net		2,100
Wholesale
Business Acquisition [Line Items]
Goodwill		11,473	11,112
Sales Revenue Net		1,200
Retail
Business Acquisition [Line Items]
Goodwill		844	$ 0
Sales Revenue Net		900
Forsake
Business Acquisition [Line Items]
Aggregate purchase price	$ 2,600
Period for payments of contingent consideration	5 years
Preliminary estimate of the discounted fair value of the contingent payments	$ 1,300
Recorded intangible assets	3,100
Goodwill	$ 1,200	$ 1,205

ACQUISITION - Accrued liabiliti

ACQUISITION - Accrued liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 07, 2021	Dec. 31, 2020
Fair values assigned to the assets acquired and liabilities assumed as of the acquisition date
Goodwill	$ 12,317		$ 11,112
Forsake
Fair values assigned to the assets acquired and liabilities assumed as of the acquisition date
Accounts receivable, net	143
Inventories	619
Prepaid expenses and other current assets	72
Property, plant and equipment, net	17
Goodwill	1,205	$ 1,200
Trademark	1,900
Accrued liabilities	(48)
Total	$ 3,908

INVESTMENTS - Marketable Securi

INVESTMENTS - Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	$ 219	$ 2,215
Municipal bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost, Current	219	2,215
Amortized Cost, Due from one through five years	6,503	7,420
Amortized Cost, Due from six through ten years	2,479	3,057
Amortized Cost, Due from eleven through twenty years	1,014	2,323
Amortized Cost, Total	10,215	15,015
Market Value, Current	223	2,249
Market Value, Due from one through five years	6,805	7,830
Market Value, Due from six through ten years	2,790	3,608
Market Value, Due from eleven through twenty years	1,102	2,547
Market Value, Total	$ 10,920	$ 16,234

INVESTMENTS - Unrealized gains

INVESTMENTS - Unrealized gains and losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Municipal bonds
Net Investment Income [Line Items]
Unrealized Gains	$ 705	$ 1,219

INVESTMENTS - Investments, at f

INVESTMENTS - Investments, at fair value (Details)	12 Months Ended
INVESTMENTS - Investments, at fair value (Details)	Dec. 31, 2021USD ($)
INVESTMENTS
Investments, at fair value	$ 8,122,000
Unrealized Gain (Loss) on Investments	$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
INVENTORIES
Finished shoes	$ 99,244	$ 78,158
LIFO reserve	(28,218)	(19,133)
Total inventories	$ 71,026	$ 59,025

INVENTORIES - Additional Inform

INVENTORIES - Additional Information (Details) - USD ($)	12 Months Ended
INVENTORIES - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
INVENTORIES
Other Inventory, in Transit, Gross	$ 52,600,000	$ 7,100,000
Percentage of LIFO Inventory	90.00%	91.00%
Percentage of FIFO Inventory	10.00%	9.00%
Decrease In Cost Of Goods Sold	$ 181,000	$ 261,000

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
PROPERTY, PLANT AND EQUIPMENT, NET.
Land and land improvements	$ 3,793	$ 3,793
Buildings and improvements	32,191	32,154
Machinery and equipment	36,031	36,380
Retail fixtures and leasehold improvements	3,732	3,830
Construction in progress	701	637
Property, plant and equipment	76,448	76,794
Less: Accumulated depreciation	(47,246)	(46,035)
Property, plant and equipment, net	$ 29,202	$ 30,759

LEASES - Operating lease costs

LEASES - Operating lease costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
LEASES
Operating lease costs	$ 5,045	$ 6,714
Variable lease costs	82	30
Total lease costs	$ 5,127	$ 6,744

LEASES - Maturities of operatin

LEASES - Maturities of operating lease liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
LEASES
2022	$ 3,906
2023	2,963
2024	2,073
2025	1,358
2026	1,009
Thereafter	719
Total lease payments	12,028
Less imputed interest	(915)
Present value of lease liabilities	$ 11,113	$ 11,979

LEASES - Operating lease liabil

LEASES - Operating lease liabilities classification (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
LEASES
Operating lease liabilities - current	$ 3,593	$ 4,245
Operating lease liabilities - non-current	7,520	7,734
Total	$ 11,113	$ 11,979

LEASES - Supplemental cash flow

LEASES - Supplemental cash flow information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
LEASES
Cash paid for amounts included in the measurement of lease liabilities	$ 4,888	$ 6,746
Right-of-use assets obtained in exchange for new lease liabilities (noncash)	$ 5,334	$ 216

LEASES - Additional Information

LEASES - Additional Information (Details)	Dec. 31, 2021
LEASES
Operating Lease, Weighted Average Discount Rate, Percent	4.25%
Operating Lease, Weighted Average Remaining Lease Term	3 years 6 months

INTANGIBLE ASSETS - Company's i

INTANGIBLE ASSETS - Company's indefinite-lived intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Indefinite-lived intangibles:
Gross Carrying Amount	$ 47,085	$ 43,980
Amortizable intangible assets:
Gross Carrying Amount	3,500	3,500
Accumulated Amortization	(2,528)	(2,294)
Net	972	1,206
Goodwill.
Indefinite-lived intangibles:
Gross Carrying Amount	12,317	11,112
Trademarks
Indefinite-lived intangibles:
Gross Carrying Amount	$ 34,768	32,868
Customer relationships
Amortizable intangible assets:
Weighted Average Life (Years)	15 years
Gross Carrying Amount	$ 3,500	3,500
Accumulated Amortization	(2,528)	(2,294)
Net	$ 972	$ 1,206

INTANGIBLE ASSETS - Additional

INTANGIBLE ASSETS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
INTANGIBLE ASSETS
Amortization of Intangible Assets	$ 233,000	$ 233,000
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	0
2022	233,000
2023	233,000
2024	233,000
2025	233,000
Thereafter	$ 40,000

INTANGIBLE ASSETS - Company's g

INTANGIBLE ASSETS - Company's goodwill by reportable segment (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Balance, December 31, 2020	$ 11,112
Acquisition of business	1,205
Balance, December 31, 2021	12,317
Wholesale
Balance, December 31, 2020	11,112
Acquisition of business	361
Balance, December 31, 2021	11,473
Retail
Balance, December 31, 2020	0
Acquisition of business	844
Balance, December 31, 2021	$ 844

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
OTHER ASSETS
Cash surrender value of life insurance	$ 19,194	$ 18,447
Amortizable intangible assets, net (See Note 9)	972	1,206
Investment in real estate	2,118	2,173
Other	1,317	2,175
Total other assets	$ 23,601	$ 24,001

OTHER ASSETS - Additional Infor

OTHER ASSETS - Additional Information (Details) - USD ($) $ in Millions	May 01, 2013	Dec. 31, 2021
Other Assets Noncurrent [Line Items]
Approximate Death Benefit Receive From Life Insurance Policies		$ 18.6
Asset Purchase Interest Percentage	50.00%
Payments to Acquire Buildings	$ 3.2
Asset Impairment Charges		1.1
Florsheim Europe
Other Assets Noncurrent [Line Items]
Asset Impairment Charges		$ 1.1

SHORT-TERM BORROWINGS (Details)

SHORT-TERM BORROWINGS (Details) - Revolving Credit Facility - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Line of Credit Facility, Amount, Total	$ 40
Line of Credit Facility, Expiration Date	Nov. 4, 2022
Line of credit current	$ 0	$ 0
London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.35%

EMPLOYEE RETIREMENT PLANS - Sch

EMPLOYEE RETIREMENT PLANS - Schedule of weighted average asset allocation (Details)	Dec. 31, 2021	Dec. 31, 2020
Asset Category:
Weighted Average Asset Allocation	100.00%	100.00%
Equity Securities [Member]
Asset Category:
Weighted Average Asset Allocation	60.00%	59.00%
Fixed Income Securities [Member]
Asset Category:
Weighted Average Asset Allocation	30.00%	32.00%
Other securities
Asset Category:
Weighted Average Asset Allocation	10.00%	9.00%

EMPLOYEE RETIREMENT PLANS - S_2

EMPLOYEE RETIREMENT PLANS - Schedule of funded status (Details)	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate for determining funded status	2.83%	2.47%
Supplemental Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate for determining funded status	2.86%	2.51%

EMPLOYEE RETIREMENT PLANS - S_3

EMPLOYEE RETIREMENT PLANS - Schedule of change in benefit obligation and plan assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in projected benefit obligation
Service cost	$ 382	$ 383
Interest cost	1,487	2,012
Amounts recognized in the consolidated balance sheets consist of:
Long-term pension liability	(27,776)	(33,534)
Amounts recognized in accumulated other comprehensive loss consist of:
Net amount recognized	18,011	21,955	$ 17,503
Plan Assets [Member]
Change in plan assets
Fair value of plan assets, beginning of year	43,144
Fair value of plan assets, end of year	44,582	43,144
Defined Benefit Pension Plan [Member]
Change in projected benefit obligation
Projected benefit obligation, beginning of year	56,026	50,552
Service cost	382	383
Interest cost	1,047	1,450
Actuarial (gain) loss	(2,366)	6,067
Benefits paid	(2,582)	(2,426)
Projected benefit obligation, end of year	52,507	56,026
Change in plan assets
Actual return on plan assets	4,402	4,917
Administrative expenses	(382)	(383)
Contributions	0	0
Benefits paid	(2,582)	(2,426)
Funded status of plan	(7,925)	(12,882)
Amounts recognized in the consolidated balance sheets consist of:
Accrued liabilities - other	0	0
Long-term pension liability	(7,925)	(12,882)
Net amount recognized	(7,925)	(12,882)
Amounts recognized in accumulated other comprehensive loss consist of:
Accumulated loss, net of income tax benefit of $4,331, $5,435, $1,976, and $2,275, respectively	12,328	15,468
Prior service cost net of income tax benefit of $0, $0, $20 and $4, respectively	0	0
Net amount recognized	12,328	15,468
Defined Benefit Pension Plan [Member] \| Plan Assets [Member]
Change in plan assets
Fair value of plan assets, beginning of year	43,144	41,036
Fair value of plan assets, end of year	44,582	43,144
Supplemental Pension Plan [Member]
Change in projected benefit obligation
Projected benefit obligation, beginning of year	21,125	18,460
Service cost	0	0
Interest cost	440	562
Actuarial (gain) loss	(840)	2,485
Benefits paid	(382)	(382)
Projected benefit obligation, end of year	20,343	21,125
Change in plan assets
Actual return on plan assets	0	0
Administrative expenses	0	0
Contributions	382	382
Benefits paid	(382)	(382)
Funded status of plan	(20,343)	(21,125)
Amounts recognized in the consolidated balance sheets consist of:
Accrued liabilities - other	(492)	(473)
Long-term pension liability	(19,851)	(20,652)
Net amount recognized	(20,343)	(21,125)
Amounts recognized in accumulated other comprehensive loss consist of:
Accumulated loss, net of income tax benefit of $4,331, $5,435, $1,976, and $2,275, respectively	5,624	6,475
Prior service cost net of income tax benefit of $0, $0, $20 and $4, respectively	59	12
Net amount recognized	5,683	6,487
Supplemental Pension Plan [Member] \| Plan Assets [Member]
Change in plan assets
Fair value of plan assets, beginning of year	0	0
Fair value of plan assets, end of year	$ 0	$ 0

EMPLOYEE RETIREMENT PLANS - S_4

EMPLOYEE RETIREMENT PLANS - Schedule of net periodic pension cost (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Long-term rate of return on plan assets	7.00%	7.00%
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate for projected benefit obligation	2.47%	3.35%
Discount rate for determining interest cost	1.91%	2.92%
Long-term rate of return on plan assets	7.00%	7.00%
Supplemental Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate for projected benefit obligation	2.51%	3.38%
Discount rate for determining interest cost	2.10%	3.07%
Long-term rate of return on plan assets	0.00%	0.00%

EMPLOYEE RETIREMENT PLANS (Deta

EMPLOYEE RETIREMENT PLANS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
EMPLOYEE RETIREMENT PLANS
Service cost	$ 382	$ 383
Interest cost	1,487	2,012
Expected return on plan assets	(2,907)	(2,761)
Net amortization and deferral	1,012	763
Pension (benefit) expense	$ (26)	$ 397

EMPLOYEE RETIREMENT PLANS - S_5

EMPLOYEE RETIREMENT PLANS - Schedule of Projected benefit payments for the plans (Details) $ in Thousands	Dec. 31, 2021USD ($)
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2022	$ 2,843
2023	2,900
2024	2,911
2025	2,905
2026	2,899
2027 - 2031	14,369
Supplemental Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2022	492
2023	679
2024	757
2025	899
2026	965
2027 - 2031	$ 5,925

EMPLOYEE RETIREMENT PLANS - S_6

EMPLOYEE RETIREMENT PLANS - Schedule of fair value hierarchy (Details) - Plan Assets [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	$ 44,582	$ 43,144
Subtotal [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	44,521	43,075
Common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	20,427	19,390
Preferred stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	278	272
Exchange traded funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	6,324	6,033
Corporate obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	4,795	4,349
State and municipal obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	512	821
Pooled fixed income funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	6,953	7,117
U.S. government securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	659	763
Marketable CD's [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total		513
Cash and cash equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	4,573	3,817
Other assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	61	69
Fair Value, Inputs, Level 1 [Member] \| Subtotal [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	36,590	34,406
Fair Value, Inputs, Level 1 [Member] \| Common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	18,493	17,194
Fair Value, Inputs, Level 1 [Member] \| Preferred stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	247	245
Fair Value, Inputs, Level 1 [Member] \| Exchange traded funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	6,324	6,033
Fair Value, Inputs, Level 1 [Member] \| Corporate obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 1 [Member] \| State and municipal obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 1 [Member] \| Pooled fixed income funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	6,953	7,117
Fair Value, Inputs, Level 1 [Member] \| U.S. government securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 1 [Member] \| Marketable CD's [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total		0
Fair Value, Inputs, Level 1 [Member] \| Cash and cash equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	4,573	3,817
Fair Value, Inputs, Level 2 [Member] \| Subtotal [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	7,931	8,669
Fair Value, Inputs, Level 2 [Member] \| Common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	1,934	2,196
Fair Value, Inputs, Level 2 [Member] \| Preferred stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	31	27
Fair Value, Inputs, Level 2 [Member] \| Exchange traded funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 2 [Member] \| Corporate obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	4,795	4,349
Fair Value, Inputs, Level 2 [Member] \| State and municipal obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	512	821
Fair Value, Inputs, Level 2 [Member] \| Pooled fixed income funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 2 [Member] \| U.S. government securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	659	763
Fair Value, Inputs, Level 2 [Member] \| Marketable CD's [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total		513
Fair Value, Inputs, Level 2 [Member] \| Cash and cash equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 3 [Member] \| Subtotal [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 3 [Member] \| Common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 3 [Member] \| Preferred stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 3 [Member] \| Exchange traded funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 3 [Member] \| Corporate obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 3 [Member] \| State and municipal obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 3 [Member] \| Pooled fixed income funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 3 [Member] \| U.S. government securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	0	0
Fair Value, Inputs, Level 3 [Member] \| Marketable CD's [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total		0
Fair Value, Inputs, Level 3 [Member] \| Cash and cash equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets, Total	$ 0	$ 0

EMPLOYEE RETIREMENT PLANS - Add

EMPLOYEE RETIREMENT PLANS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	100.00%	100.00%
Defined Benefit Plan Percentage Of Minimum Fund Maintenance	80.00%
Defined Contribution Plan Employer Contribution Amount	$ 850,000	$ 875,000
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	7.00%	7.00%
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax	$ 4,331,000	$ 5,435,000
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax	0	0
Supplemental Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax	1,976,000	2,275,000
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax	$ 20,000	$ 4,000
Minimum [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	20.00%
Minimum [Member] \| Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	20.00%
Minimum [Member] \| Other securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	0.00%
Maximum [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	80.00%
Maximum [Member] \| Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	80.00%
Maximum [Member] \| Other securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	20.00%

Comprehensive Income (Loss) - A

Comprehensive Income (Loss) - Accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Comprehensive Income (Loss)
Foreign currency translation adjustments	$ (6,783)	$ (6,050)	$ (7,033)
Pension liability, net of tax	(18,011)	(21,955)	(17,503)
Total accumulated other comprehensive loss	$ (24,794)	$ (28,005)	$ (24,536)

Comprehensive Income (Loss) - C

Comprehensive Income (Loss) - Changes in accumulated comprehensive loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Comprehensive Income (Loss)
Foreign Currency Translation Adjustments, Beginning balance	$ (6,050)	$ (7,033)
Foreign Currency Translation Adjustments, Other comprehensive (loss) income before reclassifications	(733)	983
Foreign Currency Translation Adjustments, Net current period other comprehensive (loss) income	(733)	983
Foreign Currency Translation Adjustments, Ending balance	(6,783)	(6,050)
Defined Benefit Pension Items, Beginning balance	(21,955)	(17,503)
Defined Benefit Pension Items, Other comprehensive (loss) income before reclassifications	3,196	(5,017)
Defined Benefit Pension Items, Amounts reclassified from accumulated other comprehensive loss	748	565
Defined Benefit Pension Items, Net current period other comprehensive (loss) income	3,944	(4,452)
Defined Benefit Pension Items, Ending balance	(18,011)	(21,955)
Beginning balance	(28,005)	(24,536)
Other comprehensive (loss) income before reclassifications	2,463	(4,034)
Amounts reclassified from accumulated other comprehensive loss	748	565
Net current period other comprehensive (loss) income	3,211	(3,469)
Ending balance	$ (24,794)	$ (28,005)

Comprehensive Income (Loss) - R

Comprehensive Income (Loss) - Reclassification adjustments out of accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Amortization of defined benefit pension items
Prior service cost	$ (62)	$ (63)
Actuarial losses	1,074	826
Total before tax	1,012	763
Tax benefit	(264)	(198)
Net of tax	$ 748	$ 565

INCOME TAXES - Schedule of prov

INCOME TAXES - Schedule of provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal	$ 3,656	$ (1,954)
State	1,235	(154)
Foreign	989	784
Total	5,880	(1,324)
Deferred	910	2,755
Total provision	$ 6,790	$ 1,431

INCOME TAXES - Schedule of effe

INCOME TAXES - Schedule of effective tax rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Statutory federal tax rate	21.00%	21.00%
State income taxes, net of federal tax benefit	3.30%	1.80%
Non-taxable municipal bond interest	(0.30%)	1.30%
Net Operating Loss Carryback Under the CARES Act		10.40%
Foreign income tax rate differences	1.60%	(24.30%)
Reversal of deferred tax assets on foreign net operating losses		(28.40%)
Share-based compensation	0.50%	(1.00%)
Other	(1.30%)	(1.10%)
Earnings (loss) before provision (benefit) for income taxes	$ 27,345	$ (7,054)
Provision (benefit) for income taxes	$ 6,790	$ 1,431
Effective tax rate	24.80%	(20.30%)

INCOME TAXES - Schedule of comp

INCOME TAXES - Schedule of components of deferred taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred income tax assets:
Accounts receivable reserves	$ 269	$ 269
Pension liability	7,350	8,842
Accrued liabilities	1,578	1,720
Operating lease liabilities	2,848	2,716
Foreign currency losses on intercompany loans	57	58
Deferred Tax Assets, Net of Valuation Allowance, Total	12,102	13,605
Deferred income tax liabilities:
Inventory and related reserves	(3,011)	(3,149)
Cash value of life insurance	(545)	(485)
Property, plant and equipment	(1,199)	(1,285)
Intangible assets	(8,539)	(7,913)
Operating lease right-of-use assets	(356)	(2,087)
Prepaid expenses and other assets	(2,415)	(365)
Deferred Tax Liabilities, Gross	(16,065)	(15,284)
Net deferred income tax liabilities	$ (3,963)	$ (1,679)

INCOME TAXES - Schedule of net

INCOME TAXES - Schedule of net deferred tax liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Non-current deferred income tax benefits	$ 1,063	$ 1,235
Non-current deferred income tax liabilities	(5,026)	(2,914)
Net deferred income tax liabilities	$ (3,963)	$ (1,679)

INCOME TAXES - Schedule of unre

INCOME TAXES - Schedule of unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Unrecognized tax benefits balance at January 1,	$ 833	$ 636
Increases related to current year tax positions	8	257
Decreases due to settlements of tax positions	(250)	0
Decreases due to lapsing of statute of limitations	(436)	(60)
Unrecognized tax benefits balance at December 31,	$ 155	$ 833

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
INCOME TAXES - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Income (Loss) from Continuing Operations before Income Taxes, Foreign	$ 3,500,000	$ 5,500,000
Current year tax provision on foreign subsidiaries	0
Deferred tax assets on foreign tax carryforwards, reversal		2,000,000
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	$ 26,000	$ 155,000

COMMITMENTS (Details)

COMMITMENTS (Details) $ in Millions	Dec. 31, 2021USD ($)
COMMITMENTS
Purchase Obligation, Due in Next Twelve Months	$ 171.5

SHARE REPURCHASE PROGRAM (Detai

SHARE REPURCHASE PROGRAM (Details) - USD ($) $ in Thousands	12 Months Ended
SHARE REPURCHASE PROGRAM (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
SHARE REPURCHASE PROGRAM
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	7,500,000
Stock Repurchased and Retired During Period, Shares	125,204	106,490
Payments for Repurchase of Common Stock	$ 2,525	$ 2,063
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	210,576

EARNINGS PER SHARE - Earnings p

EARNINGS PER SHARE - Earnings per share basic and diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net earnings (loss)	$ 20,555	$ (8,485)
Denominator:
Basic weighted average shares outstanding (in shares)	9,662	9,757
Effect of dilutive securities:
Employee share-based awards (in shares)	31
Diluted weighted average shares outstanding (in shares)	9,693	9,757
Basic earnings (loss) per share (in dollars per share)	$ 2.13	$ (0.87)
Diluted earnings (loss) per share (in dollars per share)	$ 2.12	$ (0.87)

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
EARNINGS PER SHARE
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1,109,000	1,232,000
Weighted Average Price of Antidilutive Securities Excluded from Computation of Earnings Per Share (in dollars per share)	$ 26.49	$ 25.35

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Details)	12 Months Ended
SEGMENT INFORMATION - Additional Information (Details)	Dec. 31, 2021segment
Segment Information
Number of Reportable Segments	2
Revenue from Contract with Customer Benchmark [Member]
Segment Information
Segment Reporting, Disclosure of Major Customers	In 2021 and 2020, there was no single customer with sales of 10% or more of the Company’s total sales.
United States [Member]
Segment Information
Number Of Stores Description	the Company operated e-commerce businesses and four brick and mortar retail stores

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of segment data (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments \| segment	2
Net sales	$ 267,641	$ 195,375
Depreciation	2,490	2,901
Earnings (loss) from operations	25,702	(7,598)
Total assets	277,667	256,719
Capital expenditures	1,007	3,368
Product sales
Segment Reporting Information [Line Items]
Net sales	265,904	194,201
Licensing revenues
Segment Reporting Information [Line Items]
Net sales	1,737	1,174
Wholesale
Segment Reporting Information [Line Items]
Net sales	205,386	152,186
Depreciation	1,995	1,973
Earnings (loss) from operations	19,455	975
Total assets	246,983	222,255
Capital expenditures	453	3,095
Wholesale \| Product sales
Segment Reporting Information [Line Items]
Net sales	203,649	151,012
Wholesale \| Licensing revenues
Segment Reporting Information [Line Items]
Net sales	1,737	1,174
Retail
Segment Reporting Information [Line Items]
Net sales	31,595	21,499
Depreciation	4	211
Earnings (loss) from operations	6,651	(1,073)
Total assets	6,263	7,374
Capital expenditures	17	30
Retail \| Product sales
Segment Reporting Information [Line Items]
Net sales	31,595	21,499
Other Segment
Segment Reporting Information [Line Items]
Net sales	30,660	21,690
Depreciation	491	717
Earnings (loss) from operations	(404)	(7,500)
Total assets	24,421	27,090
Capital expenditures	537	243
Other Segment \| Product sales
Segment Reporting Information [Line Items]
Net sales	$ 30,660	$ 21,690

SEGMENT INFORMATION - Geographi

SEGMENT INFORMATION - Geographic Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 267,641	$ 195,375
Long-Lived Assets	88,920	87,731
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	215,754	155,955
Long-Lived Assets	79,486	77,975
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	21,227	17,730
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	2,309	2,600
Australia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	21,218	15,252
Asia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	3,198	1,969
South Africa [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	3,935	1,869
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 9,434	$ 9,756

SHARE-BASED COMPENSATION PLAN_2

SHARE-BASED COMPENSATION PLANS - Stock options weighted-average assumptions (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
SHARE-BASED COMPENSATION PLANS
Risk-free interest rate	1.13%	0.54%
Expected dividend yield	4.00%	5.33%
Expected term	8 years	8 years
Expected volatility	28.50%	26.40%

SHARE-BASED COMPENSATION PLAN_3

SHARE-BASED COMPENSATION PLANS - Company's stock option activity (Details) - Employee Stock Option - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at beginning of period	1,125,383	1,176,770
Shares, Granted	186,900	188,600
Shares, Exercised	(1,300)
Shares, Forfeited or expired	(31,150)	(239,987)
Shares, Outstanding at end of period	1,279,833	1,125,383
Shares, Exercisable at end of period	768,522	640,012
Weighted Average Exercise Price, Outstanding at beginning of period (in dollars per share)	$ 25.62	$ 27.14
Weighted Average Exercise Price, Granted (in dollars per share)	24	18
Weighted Average Exercise Price, Exercised (in dollars per share)	18
Weighted Average Exercise Price, Forfeited or expired (in dollars per share)	24.06	27.09
Weighted Average Exercise Price, Outstanding at end of period (in dollars per share)	25.44	25.62
Weighted Average Exercise Price, Exercisable at end of period (in dollars per share)	$ 26.58	$ 26.77
Weighted Average Remaining Contractual Term (Years), Outstanding - September 30, 2021	5 years 7 months 6 days
Weighted Average Remaining Contractual Term (Years), Exercisable, Outstanding - September 30, 2021	3 years 9 months 18 days
Aggregate Intrinsic Value, Outstanding at December 31, 2021	$ 1,147,000
Aggregate Intrinsic Value, Exercisable at December 31, 2021	$ 257,000

SHARE-BASED COMPENSATION PLAN_4

SHARE-BASED COMPENSATION PLANS - Non-vested stock options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Non Vested Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Outstanding at beginning of year	485,371	473,740
Number of Options, Granted	186,900	188,600
Number of Options, Vested	(137,180)	(165,824)
Number of Options, Forfeited	(23,780)	(11,145)
Number of Options, Outstanding at end of year	511,311	485,371
Weighted Average Exercise Price, Outstanding at beginning of year (in dollars per share)	$ 24.08	$ 27.77
Weighted Average Exercise Price, Granted (in dollars per share)	24	18
Weighted Average Exercise Price, Vested (in dollars per share)	25.65	27.48
Weighted Average Exercise Price, Forfeited (in dollars per share)	23.97	27.54
Weighted Average Exercise Price, Outstanding at end of year (in dollars per share)	23.63	24.08
Weighted Average Fair Value, Outstanding at beginning of year (in dollars per share)	3.48	4.26
Weighted Average Fair Value, Granted (in dollars per share)	4.16	2.01
Weighted Average Fair Value, Vested (in dollars per share)	3.83	3.99
Weighted Average Fair Value, Forfeited (in dollars per share)	3.48	4.27
Weighted Average Fair Value, Outstanding at end of the year (in dollars per share)	$ 3.64	$ 3.48
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Granted	186,900	188,600
Weighted Average Exercise Price, Granted (in dollars per share)	$ 24	$ 18
Weighted Average Fair Value, Granted (in dollars per share)	$ 4.16	$ 2.01

SHARE-BASED COMPENSATION PLAN_5

SHARE-BASED COMPENSATION PLANS - Summary of outstanding and exercisable stock options (Details)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding \| shares	1,279,833
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	5 years 7 months 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 25.44
Options Exercisable, Number Of Options Exercisable \| shares	768,522
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 26.58
$18.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Prices, Lower Range Limit (in dollars per share)	$ 18
Options Outstanding, Number of Options Outstanding \| shares	176,800
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	8 years 8 months 12 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 18
Options Exercisable, Number Of Options Exercisable \| shares	36,480
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 18
Exercise Price Range From $23.38 to $25.86 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Prices, Lower Range Limit (in dollars per share)	23.38
Exercise Prices, Upper Range Limit (in dollars per share)	$ 25.86
Options Outstanding, Number of Options Outstanding \| shares	796,500
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	4 years 9 months 18 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 24.73
Options Exercisable, Number Of Options Exercisable \| shares	509,844
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 25.27
Exercise Price Range From $27.94 to $37.22 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Prices, Lower Range Limit (in dollars per share)	27.94
Exercise Prices, Upper Range Limit (in dollars per share)	$ 37.22
Options Outstanding, Number of Options Outstanding \| shares	306,533
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	6 years
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 31.56
Options Exercisable, Number Of Options Exercisable \| shares	222,198
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 30.99

SHARE-BASED COMPENSATION PLANS-

SHARE-BASED COMPENSATION PLANS- Company's stock option exercise activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$ 8,000
Net proceeds from stock options exercised	2,000	$ 0
Income tax benefit from the exercise of stock options	2,000
Total fair value of stock options vested	525,000	661,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefit from the exercise of stock options	$ 184,000	$ 127,000

SHARE-BASED COMPENSATION PLAN_6

SHARE-BASED COMPENSATION PLANS - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Paid for Tax Withholding for Share Based Compensation	1,000
Payments Related to Tax Withholding for Share-based Compensation	$ 0	$ 0
Allocated Share-based Compensation Expense	1,600,000	$ 1,400,000
Additional share based compensation expense	$ 232,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share	$ 23.94
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 9 months 18 days
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years	10 years
Share Price	$ 23.94
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 1,800,000	$ 1,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	3 years 6 months	3 years 2 months 12 days
Incentive plan 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	440,000

SHARE-BASED COMPENSATION PLAN_7

SHARE-BASED COMPENSATION PLANS - Company's restricted stock award activities (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Restricted Stock, Non-vested beginning of period	72,490	68,735
Shares of Restricted Stock, Issued	36,325	30,800
Shares of Restricted Stock, Vested	(30,345)	(27,045)
Shares of Restricted Stock, Non-vested end of period	78,470	72,490
Weighted Average Grant Date Fair Value, Non-vested beginning of period (in dollars per share)	$ 23.77	$ 28.04
Weighted Average Grant Date Fair Value, Issued (in dollars per share)	24	18
Weighted Average Grant Date Fair Value, Vested (in dollars per share)	25.75	28.04
Weighted Average Grant Date Fair Value, Non-vested end of period (in dollars per share)	$ 23.11	23.77
Aggregate Intrinsic Value	$ 1
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair market value of options granted (in dollars per share)	$ 4.16	$ 2.01

VALUATION AND QUALIFYING ACCO_3

VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
BEGINNING BALANCE	$ 2,666	$ 2,409
Add - Additions charged to earnings	3,195	8,669
Deduct - Charges for purposes for which reserves were established	(3,794)	(8,412)
ENDING BALANCE	2,067	2,666
Sales Returns and Allowances [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
BEGINNING BALANCE	1,425	986
Add - Additions charged to earnings	198	5,289
Deduct - Charges for purposes for which reserves were established	(316)	(4,850)
ENDING BALANCE	1,307	1,425
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
BEGINNING BALANCE	1,241	1,423
Add - Additions charged to earnings	2,997	3,380
Deduct - Charges for purposes for which reserves were established	(3,478)	(3,562)
ENDING BALANCE	$ 760	$ 1,241