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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents ($24,325 and $25,014 related to variable interest entities (“VIEs”)) $ 471,563 $ 181,544
Accounts receivable ($1,771 and $0 related to VIEs) 252,435 262,646
Contract assets 88,600 109,803
Receivables from and equity in construction joint ventures 17,506 14,122
Other current assets 17,875 29,139
Total current assets 847,979 597,254
Property and equipment, net 243,648 215,482
Operating lease right-of-use assets, net 57,235 59,415
Goodwill 281,117 262,692
Other intangibles, net 328,397 299,123
Other non-current assets, net 18,808 7,654
Total assets 1,777,184 1,441,620
Current liabilities:    
Accounts payable ($2,973 and $2,540 related to VIEs) 145,968 121,887
Contract liabilities ($15,741 and $15,551 related to VIEs) 444,160 239,297
Current maturities of long-term debt 26,520 32,610
Current portion of long-term lease obligations 19,641 19,715
Accrued compensation 27,758 24,136
Other current liabilities 14,121 8,966
Total current liabilities 678,168 446,611
Long-term debt 314,996 398,735
Long-term lease obligations 37,722 40,103
Members’ interest subject to mandatory redemption and undistributed earnings 29,108 21,597
Deferred tax liability, net 76,764 51,659
Other long-term liabilities 16,573 5,116
Total liabilities 1,153,331 963,821
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Common stock, par value $0.01 per share; 58,000 and 38,000 shares authorized, 30,926 and 30,585 shares issued and outstanding 309 306
Additional paid in capital 293,570 287,914
Retained earnings 325,034 186,379
Total Sterling stockholders’ equity 618,913 474,599
Noncontrolling interests 4,940 3,200
Total stockholders’ equity 623,853 477,799
Total liabilities and stockholders’ equity $ 1,777,184 $ 1,441,620