XML 44 R31.htm IDEA: XBRL DOCUMENT
v3.21.2

Acquisitions and Joint Ventures (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Schedule of Unaudited Pro Forma Financial Information | The following unaudited pro forma financial information represents the Company’s results of operations as if the EIS acquisition and the joint venture with Mader had occurred on January 1, 2020:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
(table in thousands, except per share data) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Net sales |  | $ | 79,979 |  |  | $ | 77,943 |  |  | $ | 230,551 |  |  | $ | 246,550 |
Net (loss) income attributable to CECO Environmental Corp. |  |  | (1,249 | ) |  |  | (222 | ) |  |  | 224 |  |  |  | 7,975 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.04 | ) |  | $ | (0.01 | ) |  | $ | 0.01 |  |  | $ | 0.23 |
Diluted |  | $ | (0.04 | ) |  | $ | (0.01 | ) |  | $ | 0.01 |  |  | $ | 0.22 |
Environmental Integrated Solutions [Member] |
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of closing.
(table only in thousands) |  |  |
Current assets (including cash of $4,212) |  | $ | 6,416 |
Property and equipment |  |  | 26 |
Other assets |  |  | 44 |
Goodwill |  |  | 7,022 |
Intangible - finite life |  |  | 4,840 |
Total assets acquired |  |  | 18,348 |
Current liabilities assumed |  |  | (6,514 | )
Deferred income tax liability |  |  | (920 | )
Net assets acquired |  | $ | 10,914 |
Mader Holdings L.P. [Member] | Joint Venture Agreement [Member] |
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed at the JV Agreement date.
(table only in thousands) |  |  |
Current assets (including cash of $229) |  | $ | 2,040 |
Property and equipment |  |  | 103 |
Goodwill |  |  | 2,085 |
Deferred income tax asset |  |  | 287 |
Total assets acquired |  |  | 4,515 |
Current liabilities assumed |  |  | (515 | )
Other liabilities |  |  | (500 | )
Long term debt |  |  | (2,508 | )
Net assets acquired |  | $ | 992 |

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=cece_EnvironmentalIntegratedSolutionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=cece_MaderHoldingsLPMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_TypeOfArrangementAxis=cece_JointVentureAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |