Note 13 - Restructuring Activities

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

13.     RESTRUCTURING ACTIVITIES

On January 18, 2019, the Company announced a planned suspension of its APC business operation in China (Beijing Fuel Tech). 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 includes staff rationalization, supplier and partner engagement, and the monetization of certain assets. The remaining transition activities include the execution of the remaining activities to satisfy the requirements for the remaining APC projects in China (with a backlog totaling approximately $5) in addition to collection efforts for the remaining accounts receivable.

The following table presents our revenues and net loss in China for the years ended December 31, 2022 and 2021:

	2022			2021
Total revenues	$	3		$	22
Net loss		(209	)		(114	)

The following table presents net assets in China for the years ended December 31, 2022 and 2021:

	2022		2021
Total assets	$	929	$	1,235
Total liabilities		79		92
Total net assets	$	850	$	1,143

Total assets primarily consist of cash and accounts receivable. Total liabilities consist of accounts payable and certain accrued liabilities.

The Company recorded no restructuring charges for the years ended December 31, 2022 and 2021.