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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Jun. 30, 2019
Current assets:    
Cash and cash equivalents $ 139,889 $ 89,715
Accounts receivable, less allowances (September 30, 2019— $1,091 and June 30, 2019—$923) 214,614 218,432
Costs and estimated earnings in excess of billings on uncompleted contracts 65,996 96,083
Inventories 7,561 8,017
Income taxes receivable 1,337 29
Other current assets 9,969 5,034
Total current assets 439,366 417,310
Property, plant and equipment at cost:    
Land and buildings 41,057 41,179
Construction equipment 92,142 91,793
Transportation equipment 55,179 52,526
Office equipment and software 44,164 43,632
Construction in progress 7,563 7,619
Property, plant and equipment at cost, gross 240,105 236,749
Accumulated depreciation (158,589) (157,414)
Property, plant and equipment at cost, net 81,516 79,335
Operating lease right-of-use assets 23,595 0
Goodwill 93,300 93,368
Other intangible assets 18,516 19,472
Deferred income taxes 2,719 2,683
Other assets 13,742 21,226
Total assets 672,754 633,394
Current liabilities:    
Accounts payable 96,984 114,647
Billings on uncompleted contracts in excess of costs and estimated earnings 130,191 105,626
Accrued wages and benefits 34,214 38,357
Accrued insurance 9,539 9,021
Operating lease liabilities 8,660 0
Income taxes payable 0 2,517
Other accrued expenses 5,721 5,331
Total current liabilities 285,309 275,499
Deferred income taxes 2,346 298
Operating lease liabilities 15,998 0
Borrowings under senior secured revolving credit facility 11,366 5,347
Other liabilities 308 293
Total liabilities 315,327 281,437
Commitments and contingencies
Matrix Service Company stockholders' equity:    
Common stock—$.01 par value; 60,000,000 shares authorized; 27,888,217 shares issued as of September 30, 2019 and June 30, 2019; 27,131,446 and 26,807,203 shares outstanding as of September 30, 2019 and June 30, 2019 279 279
Additional paid-in capital 132,936 137,712
Retained earnings 245,627 239,476
Accumulated other comprehensive loss (8,145) (7,751)
Matrix Service Company stockholders' equity 370,697 369,716
Less: Treasury stock, at cost — 756,771 shares as of September 30, 2019, and 1,081,014 shares as of June 30, 2019 (13,270) (17,759)
Total stockholders' equity 357,427 351,957
Total liabilities and stockholders’ equity $ 672,754 $ 633,394