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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 56,764 $ 94,095
Receivables, including retainage 147,001 145,026
Costs and estimated earnings in excess of billings on uncompleted contracts 44,133 41,542
Inventories 2,699 3,159
Receivables from and equity in construction joint ventures 11,625 10,720
Other current assets 6,696 8,074
Total current assets 268,918 302,616
Property and equipment, net 52,011 51,999
Operating lease right-of-use assets 15,290  
Goodwill 85,231 85,231
Intangibles, net 41,818 42,418
Other assets, net 246 309
Total assets 463,514 482,573
Current liabilities:    
Accounts payable 81,870 99,426
Billings in excess of costs and estimated earnings on uncompleted contracts 55,598 62,407
Current maturities of long-term debt 393 2,899
Current portion of long-term lease obligations 7,009  
Income taxes payable 340 318
Accrued compensation 10,500 9,448
Other current liabilities 6,300 4,676
Total current liabilities 162,010 179,174
Long-term debt, net of current maturities 76,923 79,117
Long-term lease obligations 8,466  
Members’ interest subject to mandatory redemption and undistributed earnings 47,132 49,343
Deferred taxes 1,591 1,450
Other long-term liabilities 1,115 1,229
Total liabilities 297,237 310,313
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock, par value $0.01 per share; 1,000 shares authorized, none issued 0 0
Common stock, par value $0.01 per share; 38,000 shares authorized, 27,056 and 27,064 shares issued, 26,424 and 26,597 shares outstanding 271 271
Additional paid in capital 233,502 233,795
Treasury Stock, at cost: 632 and 467 shares (7,182) (4,731)
Retained deficit (63,119) (64,934)
Total Sterling stockholders’ equity 163,472 164,401
Noncontrolling interests 2,805 7,859
Total stockholders’ equity 166,277 172,260
Total liabilities and stockholders’ equity $ 463,514 $ 482,573