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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents ($26,122 and $7,538 related to variable interest entities (“VIEs”)) $ 66,185 $ 45,733
Accounts receivable ($25,789 and $19,241 related to VIEs) 177,424 168,872
Contract assets ($8,370 and $12,257 related to VIEs) 84,975 94,679
Receivables from and equity in construction joint ventures ($9,708 and $7,406 related to VIEs) 16,653 9,196
Other current assets ($1,493 and $503 related to VIEs) 16,306 11,790
Total current assets 361,543 330,270
Property and equipment, net ($6,010 and $5,619 related to VIEs) 126,668 116,030
Operating lease right-of-use assets ($4,213 and $3,817 related to VIEs) 16,515 13,979
Goodwill ($1,501 and $1,501 related to VIEs) 192,014 191,892
Other intangibles, net 244,887 256,323
Deferred tax asset, net 7,817 26,012
Other non-current assets, net 3,250 183
Total assets 952,694 934,689
Current liabilities:    
Accounts payable ($19,505 and $18,213 related to VIEs) 95,201 137,593
Contract liabilities ($17,678 and $8,177 related to VIEs) 114,019 57,760
Current maturities of long-term debt ($6,793 and $39 related to VIEs) 77,434 42,473
Current portion of long-term lease obligations ($1,801 and $1,838 related to VIEs) 7,588 7,095
Income taxes payable 0 1,212
Accrued compensation ($2,141 and $1,521 related to VIEs) 18,013 13,727
Other current liabilities ($1,374 and $1,429 related to VIEs) 9,629 6,393
Total current liabilities 321,884 266,253
Long-term debt ($53 and $2 related to VIEs) 291,249 390,627
Long-term lease obligations ($2,412 and $1,979 related to VIEs) 8,958 6,976
Members’ interest subject to mandatory redemption and undistributed earnings 51,290 49,003
Other long-term liabilities ($722 and $0 related to VIE’s) 10,584 619
Total liabilities 683,965 713,478
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Common stock, par value $0.01 per share; 38,000 shares authorized, 28,279 and 28,290 shares issued, 28,184 and 27,772 shares outstanding 283 283
Additional paid in capital 256,423 251,019
Treasury stock, at cost: 95 and 518 shares (1,445) (6,142)
Retained earnings (deficit) 17,273 (25,033)
Accumulated other comprehensive loss (5,264) (209)
Total Sterling stockholders’ equity 267,270 219,918
Noncontrolling interests 1,459 1,293
Total stockholders’ equity 268,729 221,211
Total liabilities and stockholders’ equity $ 952,694 $ 934,689