Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash	$ 6,109	$ 7,405
Trade accounts receivable, net of allowance for doubtful accounts of $311 and $324, respectively	35,750	30,106
Inventories, net	28,979	29,759
Prepaid expenses and other current assets	2,730	3,103
Total current assets	73,568	70,373
Property, plant and equipment, net	22,039	22,525
Goodwill	26,468	26,753
Other intangible assets, net	9,405	9,721
Deferred income taxes, net	12,887	13,222
Other noncurrent assets	1,783	1,963
Total Assets	146,150	144,557
Current Liabilities:
Accounts payable	11,731	9,388
Current portion of long-term debt	1,467	1,372
Accrued compensation and related benefits	1,597	1,655
Accrued expenses and other current liabilities	4,133	4,775
Total current liabilities	18,928	17,190
Long-term debt	15,354	15,780
Deferred income taxes	496	559
Other noncurrent liabilities	1,103	1,278
Total liabilities	35,881	34,807
Commitments and contingencies (Note 10)
Shareholders' equity:
Preferred stock – par value $.10 per share; authorized 1,000,000 shares; none issued
Common stock – par value $.10 per share; authorized 40,000,000 shares; issued – 20,281,516 shares at March 31, 2020 and 20,268,050 shares at December 31, 2019; outstanding – 15,879,284 shares at March 31, 2020 and 15,866,868 shares at December 31, 2019	2,028	2,026
Capital in excess of par value	184,550	184,292
Accumulated deficit	(51,771)	(52,830)
Accumulated other comprehensive loss	(3,338)	(2,531)
Treasury stock - at cost; 4,402,232 shares at March 31, 2020 and 4,401,182 shares at December 31, 2019	(21,239)	(21,231)
Total Ultralife Corporation equity	110,230	109,726
Non-controlling interest	39	24
Total shareholders’ equity	110,269	109,750
Total liabilities and shareholders' equity	$ 146,150	$ 144,557