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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents ($35,378 and $26,122 related to variable interest entities (“VIEs”)) $ 81,840 $ 66,185
Accounts receivable ($26,176 and $25,789 related to VIEs) 232,153 177,424
Contract assets ($10,249 and $8,370 related to VIEs) 83,310 84,975
Receivables from and equity in construction joint ventures ($7,058 and $9,708 related to VIEs) 16,896 16,653
Other current assets ($1,087 and $1,493 related to VIEs) 20,492 16,306
Total current assets 434,691 361,543
Property and equipment, net ($10,420 and $6,010 related to VIEs) 204,316 126,668
Operating lease right-of-use assets, net ($5,097 and $4,213 related to VIEs) 24,520 16,515
Goodwill ($1,501 and $1,501 related to VIEs) 259,791 192,014
Other intangibles, net 303,223 244,887
Other non-current assets, net 4,455 11,067
Total assets 1,230,996 952,694
Current liabilities:    
Accounts payable ($23,611 and $19,505 related to VIEs) 144,982 95,201
Contract liabilities ($22,583 and $17,678 related to VIEs) 127,932 114,019
Current maturities of long-term debt ($4,857 and $6,793 related to VIEs) 28,230 77,434
Current portion of long-term lease obligations ($2,334 and $1,801 related to VIEs) 8,841 7,588
Accrued compensation ($2,388 and $2,141 related to VIEs) 22,803 18,013
Other current liabilities ($889 and $1,374 related to VIEs) 18,972 9,629
Total current liabilities 351,760 321,884
Long-term debt ($81 and $53 related to VIEs) 428,588 291,249
Long-term lease obligations ($2,763 and $2,412 related to VIEs) 15,831 8,958
Members’ interest subject to mandatory redemption and undistributed earnings 55,115 51,290
Deferred tax liability, net 14,656 0
Other long-term liabilities ($0 and $722 related to VIE’s) 4,819 10,584
Total liabilities 870,769 683,965
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Common stock, par value $0.01 per share; 38,000 shares authorized, 29,838 and 28,279 shares issued, 29,838 and 28,184 shares outstanding 298 283
Additional paid in capital 280,274 256,423
Treasury stock, at cost: 0 and 95 shares 0 (1,445)
Retained earnings 79,918 17,273
Accumulated other comprehensive loss (1,723) (5,264)
Total Sterling stockholders’ equity 358,767 267,270
Noncontrolling interests 1,460 1,459
Total stockholders’ equity 360,227 268,729
Total liabilities and stockholders’ equity $ 1,230,996 $ 952,694