XML 14 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 14,919 $ 4,426
Contracts receivable, including retainage 94,758 82,112
Costs and estimated earnings in excess of billings on uncompleted contracts 28,188 26,905
Inventories 2,930 2,535
Sterling’s receivables from and equity in construction joint ventures 8,316 12,930
Other current assets 4,627 6,013
Total current assets 153,738 134,921
Property and equipment, net 72,481 73,475
Goodwill 54,820 54,820
Other assets, net 2,968 2,949
Total assets 284,007 266,165
Current liabilities:    
Accounts payable 63,389 58,959
Billings in excess of costs and estimated earnings on uncompleted contracts 39,083 30,556
Current maturities of long-term debt 4,857 4,856
Income taxes payable 67 67
Accrued compensation 9,395 5,977
Other current liabilities 4,572 3,896
Total current liabilities 121,363 104,311
Long-term liabilities:    
Long-term debt, net of current maturities 27,273 15,324
Member’s interest subject to mandatory redemption and undistributed earnings 46,211 50,438
Other long-term liabilities 355 338
Total long-term liabilities $ 73,839 $ 66,100
Sterling stockholders’ equity:    
Preferred stock, par value $0.01 per share; 1,000,000 shares authorized, none issued
Common stock, par value $0.01 per share; 28,000,000 shares authorized, 19,768,724 and 19,753,170 shares issued $ 198 $ 198
Additional paid in capital 188,534 188,147
Retained deficit (99,828) (92,500)
Total Sterling common stockholders’ equity 88,904 95,845
Noncontrolling interests (99) (91)
Total equity 88,805 95,754
Total liabilities and equity $ 284,007 $ 266,165