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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 28, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 138,469 $ 68,035
Accounts receivable, net 432,185 442,180
Prepaid expenses and other current assets 45,676 43,549
Total current assets 616,330 553,764
Property and equipment, net 26,841 30,404
Deferred income taxes, net 12,017 3,212
Investments 17,848 17,925
Goodwill 409,588 409,588
Intangible assets, net 164,370 180,464
Operating lease right-of-use assets, net 154,375 162,184
Other noncurrent assets 9,663 13,758
Total assets 1,411,032 1,371,299
Current liabilities:    
Accounts payable 107,154 124,661
Accrued expenses 128,992 102,315
Customer advances and billings in excess of costs 70,695 51,439
Salaries, benefits and payroll taxes 135,177 130,633
Accrued taxes 14,614 18,488
Current portion of long-term debt, net 22,969 22,007
Operating lease liabilities, current portion 38,946 36,997
Other current liabilities 31,457 30,893
Total current liabilities 550,004 517,433
Long-term debt, net 589,828 727,930
Long-term operating lease liabilities 118,452 129,244
Other long-term liabilities 7,415 8,601
Total liabilities 1,265,699 1,383,208
Stockholders’ equity:    
Preferred stock, $0.0001 par value per share, 1,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, $0.0001 par value per share: 210,000,000 shares authorized; 92,040,654 and 21,127,823 shares issued and outstanding as of June 28, 2020 and December 31, 2019, respectively 9 2
Additional paid-in capital 245,815 101,743
Accumulated deficit (134,293) (145,371)
Accumulated other comprehensive loss (628) (134)
Total PAE Incorporated stockholders' equity 110,903 (43,760)
Noncontrolling interests 34,430 31,851
Total liabilities and equity $ 1,411,032 $ 1,371,299