Note J - Line of Credit |
3 Months Ended |
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Apr. 05, 2026 | |
| Notes to Financial Statements | |
| Debt Disclosure [Text Block] |
NOTE J – LINE OF CREDIT
The Company has maintained an unsecured line of credit for short term operating cash needs of $50,000,000 as of April 5, 2026 and December 31, 2025, respectively. The line of credit expires on September 30, 2026. The outstanding balance as of April 5, 2026 and December 31, 2025 was $0 and $23,624,000, respectively. The interest rate on the current line of credit resets monthly to the 30-day Secured Overnight Financing Rate (SOFR) plus one-and-one-quarter percent. In addition, the Company had one issued commercial letter of credit for $1,500,000 as of April 5, 2026 and December 31, 2025, respectively. As of April 5, 2026, the entire balance of the issued letter of credit had not been drawn upon.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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