Note 4 - Restructuring Activities

9 Months Ended

Sep. 30, 2024

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 September 30, 2024 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 $3) and those related to subsidiary closure.

The following table presents our revenues and net loss for the three and nine months ended September 30, 2024 and 2023 in China as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Total revenues	$	—		$	—		$	—		$	2
Net loss		(13	)		(17	)		(41	)		(36	)

The following table presents net assets in China as of  September 30, 2024 and December 31, 2023:

	As of
	September 30, 2024		December 31, 2023
Total assets	$	829	$	846
Total liabilities		92		67
Total net assets	$	737	$	779

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