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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 71,730 $ 94,095
Accounts receivable, including retainage 157,813 145,026
Costs and estimated earnings in excess of billings on uncompleted contracts 53,896 41,542
Inventory 3,252 3,159
Receivables from and equity in construction joint ventures 14,381 10,720
Other current assets 7,951 8,074
Total current assets 309,023 302,616
Property and equipment, net 49,217 51,999
Operating lease right-of-use assets 14,995  
Goodwill 85,231 85,231
Other intangibles, net 41,218 42,418
Other non-current assets, net 211 309
Total assets 499,895 482,573
Current liabilities:    
Accounts payable 101,342 99,426
Billings in excess of costs and estimated earnings 60,571 62,407
Current maturities of long-term debt 12,128 2,899
Current portion of long-term lease obligations 7,059  
Income taxes payable 101 318
Accrued compensation 12,148 9,448
Other current liabilities 5,183 4,676
Total current liabilities 198,532 179,174
Long-term debt 66,497 79,117
Long-term lease obligations 8,030  
Members’ interest subject to mandatory redemption and undistributed earnings 48,831 49,343
Deferred taxes 2,211 1,450
Other long-term liabilities 1,101 1,229
Total liabilities 325,202 310,313
Commitments and contingencies
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, 27,049 and 27,064 shares issued, 26,466 and 26,597 shares outstanding 271 271
Additional paid in capital 233,559 233,795
Treasury Stock, at cost: 583 and 467 shares (6,688) (4,731)
Retained deficit (55,291) (64,934)
Total Sterling stockholders’ equity 171,851 164,401
Noncontrolling interests 2,842 7,859
Total stockholders’ equity 174,693 172,260
Total liabilities and stockholders’ equity $ 499,895 $ 482,573