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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents ($15,877 and $7,538 related to variable interest entities (“VIEs”)) $ 70,612 $ 45,733
Accounts receivable, including retainage ($39,085 and $24,642 related to VIEs) 269,406 248,247
Costs and estimated earnings in excess of billings ($5,012 and $8,328 related to VIEs) 52,068 42,555
Receivables from and equity in construction joint ventures ($8,302 and $7,406 related to VIEs) 12,396 9,196
Other current assets ($110 and $503 related to VIEs) 11,965 11,790
Total current assets 416,447 357,521
Property and equipment, net ($6,000 and $5,619 related to VIEs) 119,596 116,030
Operating lease right-of-use assets ($3,951 and $3,817 related to VIEs) 17,076 13,979
Goodwill ($1,501 and $1,501 related to VIEs) 192,014 191,892
Other intangibles, net 250,620 256,323
Deferred tax asset, net 21,604 26,012
Other non-current assets, net 153 183
Total assets 1,017,510 961,940
Current liabilities:    
Accounts payable ($21,943 and $18,213 related to VIEs) 131,098 137,593
Billings in excess of costs and estimated earnings ($15,514 and $9,649 related to VIEs) 110,934 85,011
Current maturities of long-term debt ($6,793 and $39 related to VIEs) 54,979 42,473
Current portion of long-term lease obligations ($1,792 and $1,838 related to VIEs) 7,423 7,095
Income taxes payable 3,594 1,212
Accrued compensation ($2,965 and $1,521 related to VIEs) 19,075 13,727
Other current liabilities ($1,587 and $1,429 related to VIEs) 10,589 6,393
Total current liabilities 337,692 293,504
Long-term debt ($9 and $2 related to VIEs) 367,028 390,627
Long-term lease obligations ($2,159 and $1,979 related to VIEs) 9,733 6,976
Members’ interest subject to mandatory redemption and undistributed earnings 53,751 49,003
Other long-term liabilities ($509 and $0 related to VIEs) 8,221 619
Total liabilities 776,425 740,729
Commitments and contingencies (Note 12)  
Stockholders’ equity:    
Common stock, par value $0.01 per share; 38,000 shares authorized, 28,280 and 28,290 shares issued, 28,034 and 27,772 shares outstanding 283 283
Additional paid in capital 253,820 251,019
Treasury Stock, at cost: 246 and 518 shares (3,435) (6,142)
Retained deficit (3,708) (25,033)
Accumulated other comprehensive loss (7,323) (209)
Total Sterling stockholders’ equity 239,637 219,918
Noncontrolling interests 1,448 1,293
Total stockholders’ equity 241,085 221,211
Total liabilities and stockholders’ equity $ 1,017,510 $ 961,940