Note 5 - Supplemental Balance Sheet Information

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Supplemental Balance Sheet Disclosures [Text Block]

5.    SUPPLEMENTAL BALANCE SHEET INFORMATION

Allowance for Doubtful Accounts

Activity in the allowance for doubtful accounts is summarized as follows (in thousands):

	Years Ended December 31,
	2019			2018			2017
Balance, beginning of year	$	9,695		$	5,775		$	6,098
Bad debt expense (1)		(1,259	)		8,188			3,155
Write-offs and adjustments		(1,212	)		(4,268	)		(3,478	)
Balance, end of year	$	7,224		$	9,695		$	5,775

⁽¹⁾ The Company recorded bad debt expense (reversals) of less than ($0.1) million, $5.3 million and $0.4 million in 2019, 2018 and 2017, respectively, as part of the restructuring efforts (see Note 4) and was primarily due to the exiting of certain low-return businesses mainly in foreign locations.

Inventories

Inventories are summarized as follows (in thousands):

	December 31,
	2019		2018 (1)
Raw materials and supplies	$	27,415	$	29,343
Work-in-process		5,739		2,510
Finished products		14,937		15,205
Construction materials		9,102		9,379
Total	$	57,193	$	56,437

⁽¹⁾ During 2018, the Company incurred non-cash charges of $2.8 million related to estimates for inventory obsolescence within its cathodic protection operations. The charges were recorded to cost of revenues in the Consolidated Statement of Operations.

Property, Plant and Equipment

Property, plant and equipment consisted of the following (in thousands):

	Estimated Useful Lives			December 31,
	(Years)			2019			2018
Land and land improvements				$	5,359		$	10,521
Buildings and improvements	5	—	40		50,589			47,430
Machinery and equipment	4	—	10		143,128			147,918
Furniture and fixtures	3	—	10		35,440			37,471
Autos and trucks	3	—	10		47,197			51,129
Construction in progress					7,475			14,626
					289,188			309,095
Less – Accumulated depreciation					(188,097	)		(202,036	)
Property, plant & equipment, less accumulated depreciation				$	101,091		$	107,059

Depreciation expense was $22.2 million, $23.9 million and $29.3 million for the years ended December 31, 2019, 2018 and 2017, respectively. The decrease in 2018 was primarily due to the held for sale classification, and subsequent sale thereof, of Bayou’s assets and a partial year classification for Australia’s assets during 2018.

Accrued Expenses

Accrued expenses consisted of the following (in thousands):

	December 31,
	2019		2018
Vendor and other accrued expenses	$	30,730	$	35,450
Estimated casualty and healthcare liabilities		13,138		17,419
Job costs		12,041		9,878
Accrued compensation		23,089		23,882
Operating lease liabilities		15,828		—
Income taxes payable		1,751		1,391
Total	$	96,577	$	88,020