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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents ($20,270 and $26,122 related to variable interest entities (“VIEs”)) $ 61,402 $ 66,185
Accounts receivable ($19,567 and $25,789 related to VIEs) 170,186 177,424
Contract assets ($10,404 and $8,370 related to VIEs) 90,109 84,975
Receivables from and equity in construction joint ventures ($9,312 and $9,708 related to VIEs) 18,166 16,653
Other current assets ($2,829 and $1,493 related to VIEs) 15,366 16,306
Total current assets 355,229 361,543
Property and equipment, net ($8,999 and $6,010 related to VIEs) 135,428 126,668
Operating lease right-of-use assets, net ($4,060 and $4,213 related to VIEs) 15,804 16,515
Goodwill ($1,501 and $1,501 related to VIEs) 192,014 192,014
Other intangibles, net 242,021 244,887
Deferred tax asset, net 3,410 7,817
Other non-current assets, net 3,310 3,250
Total assets 947,216 952,694
Current liabilities:    
Accounts payable ($17,608 and $19,505 related to VIEs) 111,131 95,201
Contract liabilities ($13,287 and $17,678 related to VIEs) 111,232 114,019
Current maturities of long-term debt ($6,793 and $6,793 related to VIEs) 59,962 77,434
Current portion of long-term lease obligations ($1,929 and $1,801 related to VIEs) 7,627 7,588
Income taxes payable 260 0
Accrued compensation ($2,817 and $2,141 related to VIEs) 22,124 18,013
Other current liabilities ($1,295 and $1,374 related to VIEs) 9,910 9,629
Total current liabilities 322,246 321,884
Long-term debt ($62 and $53 related to VIEs) 279,175 291,249
Long-term lease obligations ($2,131 and $2,412 related to VIEs) 8,202 8,958
Members’ interest subject to mandatory redemption and undistributed earnings 51,615 51,290
Other long-term liabilities ($1,063 and $722 related to VIEs) 10,285 10,584
Total liabilities 671,523 683,965
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Common stock, par value $0.01 per share; 38,000 shares authorized, 28,606 and 28,279 shares issued, 28,606 and 28,184 shares outstanding 286 283
Additional paid in capital 251,335 256,423
Treasury stock, at cost: 0 and 95 shares 0 (1,445)
Retained earnings 27,828 17,273
Accumulated other comprehensive loss (4,369) (5,264)
Total Sterling stockholders’ equity 275,080 267,270
Noncontrolling interests 613 1,459
Total stockholders’ equity 275,693 268,729
Total liabilities and stockholders’ equity $ 947,216 $ 952,694