Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current Assets:
Cash	$ 10,653	$ 7,405
Trade accounts receivable, net of allowance for doubtful accounts of $317 and $324, respectively	21,054	30,106
Inventories, net	28,193	29,759
Prepaid expenses and other current assets	4,596	3,103
Total current assets	64,496	70,373
Property, plant and equipment, net	22,850	22,525
Goodwill	27,018	26,753
Other intangible assets, net	9,209	9,721
Deferred income taxes, net	11,836	13,222
Other noncurrent assets	2,292	1,963
Total assets	137,701	144,557
Current Liabilities:
Accounts payable	10,839	9,388
Current portion of long-term debt, net	1,361	1,372
Accrued compensation and related benefits	1,748	1,655
Accrued expenses and other current liabilities	4,758	4,775
Total current liabilities	18,706	17,190
Long-term debt	0	15,780
Deferred income taxes	515	559
Other noncurrent liabilities	1,557	1,278
Total liabilities	20,778	34,807
Commitments and contingencies (Note 6)
Shareholders' Equity:
Preferred stock – par value $.10 per share; authorized 1,000,000 shares; none issued	0	0
Common stock – par value $.10 per share; authorized 40,000,000 shares; issued – 20,373,519 shares and 20,268,050 shares, respectively; outstanding – 15,959,984 shares and 15,866,868 shares, respectively	2,037	2,026
Capital in excess of par value	185,464	184,292
Accumulated deficit	(47,598)	(52,830)
Accumulated other comprehensive loss	(1,782)	(2,531)
Treasury stock - at cost; 4,413,535 shares and 4,401,182 shares, respectively	(21,321)	(21,231)
Total Ultralife Corporation equity	116,800	109,726
Non-controlling interest	123	24
Total shareholders’ equity	116,923	109,750
Total liabilities and shareholders' equity	$ 137,701	$ 144,557