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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 36,523 $ 54,779
Restricted cash 391 669
Accounts receivable, net allowances of $6,582 and $6,460 126,974 112,733
Costs and estimated earnings in excess of billings on uncompleted contracts 55,378 66,574
Inventories, net 38,475 34,089
Prepaid expenses and other current assets 20,414 11,769
Prepaid income taxes 3,215 824
Total current assets 281,370 281,437
Property, plant and equipment, net 30,290 26,237
Right-of-use assets from operating leases 14,137 16,256
Goodwill 211,144 211,326
Intangible assets – finite life, net 46,086 50,461
Intangible assets – indefinite life 9,522 9,570
Deferred income taxes 263 304
Deferred charges and other assets 5,321 4,700
Total assets 598,133 600,291
Current liabilities:    
Current portion of debt 10,580 10,488
Accounts payable 90,944 87,691
Accrued expenses 44,736 44,301
Billings in excess of costs and estimated earnings on uncompleted contracts 59,851 56,899
Notes payable 0 2,500
Income taxes payable 1,212 1,227
Total current liabilities 207,323 203,106
Other liabilities 11,196 12,644
Debt, less current portion 120,246 126,795
Deferred income tax liability, net 9,949 8,838
Operating lease liabilities 9,607 11,417
Total liabilities 358,321 362,800
Commitments and contingencies (See Note 14)
Shareholders’ equity:    
Preferred stock, $.01 par value; 10,000 shares authorized, none issued 0 0
Common stock, $.01 par value; 100,000,000 shares authorized, 34,923,701 and 34,835,293 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 349 348
Capital in excess of par value 251,560 254,956
Accumulated loss (394) (6,387)
Accumulated other comprehensive loss (16,476) (16,274)
Total CECO shareholders' equity 235,039 232,643
Non-controlling interest 4,773 4,848
Total shareholders' equity 239,812 237,491
Total liabilities and shareholders' equity $ 598,133 $ 600,291