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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash $ 5,605 $ 5,713
Trade accounts receivable, net of allowance for expected credit losses of $308 and $303, respectively 24,463 27,779
Inventories, net 47,311 41,192
Prepaid expenses and other current assets 3,973 4,304
Total current assets 81,352 78,988
Property, plant and equipment, net 21,412 21,716
Goodwill 37,518 37,428
Other intangible assets, net 15,747 15,921
Deferred income taxes, net 12,965 12,069
Other noncurrent assets 2,160 2,308
Total assets 171,154 168,430
Current liabilities:    
Accounts payable 18,988 16,074
Current portion of long-term debt 2,000 2,000
Accrued compensation and related benefits 2,321 2,890
Accrued expenses and other current liabilities 5,890 7,949
Total current liabilities 29,199 28,913
Long-term debt 21,126 19,310
Deferred income taxes 2,456 1,917
Other noncurrent liabilities 1,969 1,887
Total liabilities 54,750 52,027
Shareholders’ equity:    
Preferred stock – par value $.10 per share; authorized 1,000,000 shares; none issued 0 0
Common stock – par value $.10 per share; authorized 40,000,000 shares; issued – 20,570,710shares at March 31, 2023 and 20,570,710 shares at December 31, 2022; outstanding – 16,135,358 shares at March 31, 2023 and 16,135,358shares at December 31, 2022 2,057 2,057
Capital in excess of par value 187,544 187,405
Accumulated deficit (48,297) (47,951)
Accumulated other comprehensive loss (3,553) (3,750)
Treasury stock - at cost; 4,435,352 shares at March 31, 2023 and 4,435,352 shares at December 31, 2022 (21,484) (21,484)
Total Ultralife Corporation equity 116,267 116,277
Non-controlling interest 137 126
Total shareholders’ equity 116,404 116,403
Total liabilities and shareholders’ equity $ 171,154 $ 168,430