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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash $ 8,283 $ 5,713
Trade accounts receivable, net of allowance for expected credit losses of $308 and $303, respectively 28,630 27,779
Inventories, net 46,063 41,192
Prepaid expenses and other current assets 4,850 4,304
Total current assets 87,826 78,988
Property, plant and equipment, net 21,122 21,716
Goodwill 37,501 37,428
Other intangible assets, net 15,552 15,921
Deferred income taxes, net 11,084 12,069
Other noncurrent assets 2,307 2,308
Total assets 175,392 168,430
Current liabilities:    
Accounts payable 18,541 16,074
Current portion of long-term debt 2,000 2,000
Accrued compensation and related benefits 2,320 2,890
Accrued expenses and other current liabilities 6,342 7,949
Total current liabilities 29,203 28,913
Long-term debt 22,642 19,310
Deferred income taxes 1,876 1,917
Other noncurrent liabilities 1,996 1,887
Total liabilities 55,717 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 2,059 2,057
Capital in excess of par value 187,758 187,405
Accumulated deficit (44,957) (47,951)
Accumulated other comprehensive loss (3,846) (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 119,530 116,277
Non-controlling interest 145 126
Total shareholders’ equity 119,675 116,403
Total liabilities and shareholders’ equity $ 175,392 $ 168,430