Note 13 - Retirement, Savings and Deferred Compensation Plans |
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| Retirement Benefits [Text Block] |
The Company maintains the Bel Fuse Inc. Employees’ Savings Plan, a defined contribution plan that is intended to meet the applicable requirements for tax-qualification under sections 401(a) and (k) of the Internal Revenue Code. The expense for the three months ended September 30, 2026 and 2025 amounted to $0.4 million and $0.3 million, respectively. The expense for the nine months ended September 30, 2026 and 2025 amounted to $1.5 million and $1.2 million, respectively. The Company’s matching contribution is made in the form of Bel Class A common stock. As of September 30, 2026, the plan owned 201,813 and 41,039 shares of Bel Class A and Class B common stock, respectively.
The Company also maintains a Nonqualified Deferred Compensation Plan (the "DCP"). With certain exceptions, the Company's contributions to the DCP are discretionary and become fully vested by the participants upon reaching age 65. The expense for the three months ended September 30, 2026 and 2025 amounted to less than $0.1 million during each period. The expense for the nine months ended September 30, 2026 and 2025 amounted to $0.2 million and $0.1 million, respectively. As the plan is fully funded, the assets and liabilities related to the DCP were in equal amounts of $1.9 million at September 30, 2026 and $1.7 million at December 31, 2025. These amounts are included in other assets and other liabilities, respectively, on the accompanying condensed consolidated balance sheets as of each date.
The Company’s subsidiaries in Asia maintain a retirement fund that covers substantially all Hong Kong-based full-time employees. Retirement fund expense for the three months ended September 30, 2026 amounted to less than $0.1 million, compared million for the three months ended September 30, 2025. The expense for the nine months ended September 30, 2026 and 2025 amounted to $0.2 million and $0.3 million, respectively.
The Company maintains a SERP, which is designed to provide a limited group of key management and other key employees of the Company with supplemental retirement and death benefits. As discussed in Note 5, "Fair Value Measurements", above, the Company has investments in a rabbi trust which are intended to fund the obligations of the SERP.
The components of SERP expense are as follows:
The service cost component of net benefit cost is presented within cost of sales, research and development costs or selling, general and administrative expense on the accompanying condensed consolidated statements of operations, in accordance with where compensation cost for the related associate is reported. All other components of net benefit cost, including interest cost and net amortization noted above, are presented within other income (expense), net in the accompanying condensed consolidated statements of operations.
The following amounts are recognized net of tax in accumulated other comprehensive loss:
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