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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents ($7,538 and $8,750 related to variable interest entities (“VIEs”)) $ 45,733 $ 94,095
Accounts receivable, including retainage ($24,642 and $24,108 related to VIEs) 248,247 145,026
Costs and estimated earnings in excess of billings ($8,328 and $8,180 related to VIEs) 42,555 41,542
Receivables from and equity in construction joint ventures ($7,406 and $6,984 related to VIEs) 9,196 10,720
Other current assets ($503 and $32 related to VIEs) 11,790 11,233
Total current assets 357,521 302,616
Property and equipment, net ($5,619 and $7,219 related to VIEs) 116,030 51,999
Operating lease right-of-use assets ($3,817 and $0 related to VIEs) 13,979  
Goodwill ($1,501 and $1,501 related to VIEs) 191,892 85,231
Other intangibles, net 256,323 42,418
Deferred tax asset, net 26,012 0
Other non-current assets, net 183 309
Total assets 961,940 482,573
Current liabilities:    
Accounts payable ($18,213 and $22,859 related to VIEs) 137,593 99,426
Billings in excess of costs and estimated earnings ($9,649 and $6,585 related to VIEs) 85,011 62,407
Current maturities of long-term debt ($39 and $174 related to VIEs) 42,473 2,899
Current portion of long-term lease obligations ($1,838 and $0 related to VIEs) 7,095  
Income taxes payable 1,212 318
Accrued compensation ($1,521 and $1,566 related to VIEs) 13,727 9,448
Other current liabilities ($1,429 and $1,485 related to VIEs) 6,393 4,676
Total current liabilities 293,504 179,174
Other current liabilities ($1,429 and $1,485 related to VIEs)    
Long-term debt ($2 and $1,976 related to VIEs) 390,627 79,117
Long-term lease obligations ($1,979 and $0 related to VIEs) 6,976  
Members’ interest subject to mandatory redemption and undistributed earnings 49,003 49,343
Deferred taxes 0 1,450
Other long-term liabilities 619 1,229
Total liabilities 740,729 310,313
Commitments and Contingencies
Stockholders’ equity:    
Common stock, par value $0.01 per share; 38,000 shares authorized, 28,290 and 27,064 shares issued, 27,772 and 26,597 shares outstanding 283 271
Additional paid in capital 251,019 233,795
Treasury Stock, at cost: 518 and 467 shares (6,142) (4,731)
Retained deficit (25,033) (64,934)
Accumulated other comprehensive loss (209)  
Total Sterling stockholders’ equity 219,918 164,401
Noncontrolling interests 1,293 7,859
Total stockholders’ equity 221,211 172,260
Total liabilities and stockholders’ equity $ 961,940 $ 482,573