Note 4 - Restructuring Activities

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

4.     Restructuring Activities

On January 18, 2019, the Company announced a planned suspension of its APC business operation in China. This action was part of Fuel Tech’s ongoing operational improvement initiatives designed to prioritize resource allocation, reduce costs, and drive profitability for the Company on a global basis. The transition associated with the suspension of the APC business which has taken place through March 31, 2022 includes staff rationalization and reduction, supplier and partner engagement, and the monetization of certain assets. The remaining transition activities include the execution of the activities to satisfy the requirements for the remaining APC projects in China (with a backlog totaling approximately $6) in addition to collection efforts for the remaining accounts receivable.

The following table presents our revenues and net income (loss) for 2022 and 2021 in China as follows:

	Three Months Ended
	March 31,
	2022			2021
Total revenues	$	1		$	11
Net (loss) income		(13	)		25

Total assets primarily consist of cash, accounts receivable, contract assets, prepaid expenses, and other current assets. Total liabilities consist of accounts payable and certain accrued liabilities.

The following table presents net assets in China as follows:

	As of
	March 31, 2022		December 31, 2021
Total assets	$	1,232	$	1,235
Total liabilities		98		92
Total net assets	$	1,134	$	1,143