XML 22 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 66,541 $ 42,785
Contracts receivable, including retainage 149,052 84,132
Costs and estimated earnings in excess of billings on uncompleted contracts 43,384 32,705
Inventories 2,093 3,708
Receivables from and equity in construction joint ventures 9,069 7,130
Other current assets 9,654 5,448
Total current assets 279,793 175,908
Property and equipment, net 59,464 68,127
Goodwill 85,277 54,820
Intangibles 45,200 0
Other assets, net 3,301 2,968
Total assets 473,035 301,823
Current liabilities:    
Accounts payable 100,565 67,097
Billings in excess of costs and estimated earnings on uncompleted contracts 63,368 64,100
Current maturities of long-term debt 986 3,845
Income taxes payable 280 78
Accrued compensation 14,566 5,322
Other current liabilities 15,188 6,150
Total current liabilities 194,953 146,592
Long-term liabilities:    
Long-term debt, net of current maturities 88,619 1,549
Members' interest subject to mandatory redemption and undistributed earnings 46,329 45,230
Other long-term liabilities 595 362
Total long-term liabilities 135,543 47,141
Commitments and contingencies (Note 9)
Sterling stockholders’ equity:    
Preferred stock, par value $0.01 per share; 1,000,000 shares authorized, none issued 0 0
Common stock, par value $0.01 per share; 38,000,000 shares authorized, 27,023,143 and 24,987,306 shares issued 270 250
Additional paid in capital 231,848 208,922
Retained deficit (93,201) (101,738)
Total Sterling common stockholders’ equity 138,917 107,434
Noncontrolling interests 3,622 656
Total equity 142,539 108,090
Total liabilities and equity $ 473,035 $ 301,823