XML 34 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 4,154 $ 3,142
Short-term investments 21,562 49,211
Contracts receivable, including retainage 64,391 70,815
Costs and estimated earnings in excess of billings on uncompleted contracts 34,331 20,592
Inventories 5,375 3,731
Deferred tax asset, net 1,786 1,803
Receivables from and equity in construction joint ventures 9,450 11,005
Other current assets 8,194 4,459
Total current assets 149,243 164,758
Property and equipment, net 101,902 102,308
Goodwill 54,820 54,820
Long-term deferred tax asset, net 4,355 2,973
Other assets, net 5,827 6,651
Total assets 316,147 331,510
Current liabilities:    
Accounts payable 54,051 47,796
Billings in excess of costs and estimated earnings on uncompleted contracts 12,870 18,918
Current maturities of long-term debt 207 73
Accrued compensation 4,950 4,909
Current obligation for noncontrolling owners’ interest in subsidiaries and joint ventures 3,346 2,887
Other current liabilities 2,700 2,691
Total current liabilities 78,124 77,274
Long-term liabilities:    
Long-term debt, net of current maturities 11,892 24,201
Other long-term liabilities 2,625 2,728
Total long-term liabilities 14,517 26,929
Obligations for noncontrolling owners’ interests in subsidiaries and joint ventures 17,160 14,721
Equity:    
Common stock, par value $0.01 per share; 19,000,000 shares authorized, 16,612,254 and 16,495,216 shares issued 166 165
Additional paid in capital 197,353 197,067
Retained earnings 5,786 12,220
Accumulated other comprehensive income 417 696
Total Sterling common stockholders’ equity 203,722 210,148
Noncontrolling interests 2,624 2,438
Total equity 206,346 212,586
Total liabilities and equity $ 316,147 $ 331,510