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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 37,832 $ 54,779
Restricted cash 369 669
Accounts receivable, net of allowances of $8,863 and $6,460 159,572 112,733
Costs and estimated earnings in excess of billings on uncompleted contracts 69,889 66,574
Inventories, net 42,624 34,089
Prepaid expenses and other current assets 16,859 11,769
Prepaid income taxes 3,826 824
Total current assets 330,971 281,437
Property, plant and equipment, net 33,810 26,237
Right-of-use assets from operating leases 25,102 16,256
Goodwill 269,747 211,326
Intangible assets – finite life, net 74,050 50,461
Intangible assets – indefinite life 9,466 9,570
Deferred income tax assets 966 304
Deferred charges and other assets 15,587 4,700
Total assets 759,699 600,291
Current liabilities:    
Current portion of debt 1,650 10,488
Accounts payable 109,671 87,691
Accrued expenses 47,528 44,301
Billings in excess of costs and estimated earnings on uncompleted contracts 81,501 56,899
Notes payable 1,700 2,500
Income taxes payable 2,612 1,227
Total current liabilities 244,662 203,106
Other liabilities 14,362 12,644
Debt, less current portion 217,230 126,795
Deferred income tax liabilities 11,322 8,838
Operating lease liabilities 20,230 11,417
Total liabilities 507,806 362,800
Commitments and contingencies (See Note 12)
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, 34,978,009 and 34,835,293 shares issued and outstanding at December 31, 2024 and 2023, respectively 349 348
Capital in excess of par value 255,211 254,956
Retained earnings (accumulated loss) 6,570 (6,387)
Accumulated other comprehensive loss (14,441) (16,274)
Total CECO shareholders’ equity 247,689 232,643
Noncontrolling interest 4,204 4,848
Total shareholders' equity 251,893 237,491
Total liabilities and shareholders’ equity $ 759,699 $ 600,291