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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash $ 9,301 $ 5,713
Trade accounts receivable, net of allowance for expected credit losses of $XX and $303, respectively 27,189 27,779
Inventories, net 46,634 41,192
Prepaid expenses and other current assets 6,429 4,304
Total current assets 89,553 78,988
Property, plant and equipment, net 21,166 21,716
Goodwill 37,357 37,428
Other intangible assets, net 15,270 15,921
Deferred income taxes, net 10,728 12,069
Other noncurrent assets 2,035 2,308
Total assets 176,109 168,430
Current liabilities:    
Accounts payable 13,470 16,074
Current portion of long-term debt 2,000 2,000
Accrued compensation and related benefits 2,467 2,890
Accrued expenses and other current liabilities 8,449 7,949
Total current liabilities 26,386 28,913
Long-term debt 24,108 19,310
Deferred income taxes 1,825 1,917
Other noncurrent liabilities 2,032 1,887
Total liabilities 54,351 52,027
Commitments and Contingencies  
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 – 20,746,546 shares at September 30, 2023 and 20,570,710 shares at December 31, 2022; outstanding – 16,311,194 shares at September 30, 2023 and 16,135,358 shares at December 31, 2022 2,075 2,057
Capital in excess of par value 188,852 187,405
Accumulated deficit (43,627) (47,951)
Accumulated other comprehensive loss (4,176) (3,750)
Treasury stock - at cost; 4,435,352 shares at September 30, 2023 and 4,435,352 shares at December 31, 2022 (21,484) (21,484)
Total Ultralife Corporation equity 121,640 116,277
Non-controlling interest 118 126
Total shareholders’ equity 121,758 116,403
Total liabilities and shareholders’ equity $ 176,109 $ 168,430