XML 10 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 46,557 $ 54,779
Restricted cash 471 669
Accounts receivable, net allowances of $6,023 and $6,460 116,647 112,733
Costs and estimated earnings in excess of billings on uncompleted contracts 58,541 66,574
Inventories, net 38,032 34,089
Prepaid expenses and other current assets 10,620 11,769
Prepaid income taxes 741 824
Total current assets 271,609 281,437
Property, plant and equipment, net 27,743 26,237
Right-of-use assets from operating leases 15,095 16,256
Goodwill 211,479 211,326
Intangible assets – finite life, net 48,324 50,461
Intangible assets – indefinite life 9,558 9,570
Deferred income taxes 291 304
Deferred charges and other assets 4,921 4,700
Total assets 589,020 600,291
Current liabilities:    
Current portion of debt 10,580 10,488
Accounts payable 79,061 87,691
Accrued expenses 46,195 44,301
Billings in excess of costs and estimated earnings on uncompleted contracts 58,158 56,899
Notes payable 1,500 2,500
Income taxes payable 816 1,227
Total current liabilities 196,310 203,106
Other liabilities 11,479 12,644
Debt, less current portion 125,070 126,795
Deferred income tax liability, net 9,519 8,838
Operating lease liabilities 10,490 11,417
Total liabilities 352,868 362,800
Commitments and contingencies (See Note 14)
Shareholders’ equity:    
Preferred stock, $.01 par value; 10,000 shares authorized, none issued 0 0
Common stock, $.01 par value; 100,000,000 shares authorized, 34,908,330 and 34,835,293 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 349 348
Capital in excess of par value 251,673 254,956
Accumulated loss (4,879) (6,387)
Accumulated other comprehensive loss (15,620) (16,274)
Total CECO shareholders' equity 231,523 232,643
Non-controlling interest 4,629 4,848
Total shareholders' equity 236,152 237,491
Total liabilities and shareholders' equity $ 589,020 $ 600,291