v3.23.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 47,583 $ 45,522
Restricted cash 753 1,063
Accounts receivable, net 112,433 83,086
Costs and estimated earnings in excess of billings on uncompleted contracts 64,856 71,016
Inventories, net 37,911 26,526
Prepaid expenses and other current assets 15,266 12,174
Prepaid income taxes 6,583 1,271
Total current assets 285,385 240,658
Property, plant and equipment, net 25,010 20,828
Right-of-use assets from operating leases 13,849 11,373
Goodwill 209,825 183,197
Intangible assets – finite life, net 52,340 35,251
Intangible assets – indefinite life 9,514 9,508
Deferred income taxes 801 829
Deferred charges and other assets 3,333 3,077
Total assets 600,057 504,721
Current liabilities:    
Current portion of debt 4,726 3,579
Accounts payable 94,236 73,407
Accrued expenses 44,154 33,791
Billings in excess of costs and estimated earnings on uncompleted contracts 54,209 32,716
Notes Payable 2,500 0
Income taxes payable 3,473 3,207
Total current liabilities 203,298 146,700
Other liabilities 14,652 15,129
Debt, less current portion 135,273 107,625
Deferred income tax liability, net 7,591 8,666
Operating lease liabilities 9,101 8,453
Total liabilities 369,915 286,573
Commitments and contingencies
Shareholders’ equity:    
Preferred stock, $.01 par value; 10,000 shares authorized, none issued 0 0
Common stock, $.01 par value; 100,000,000 shares authorized, 34,811,077 and 34,381,668 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 347 344
Capital in excess of par value 253,613 250,174
Accumulated loss (10,266) (19,298)
Accumulated other comprehensive loss (18,251) (17,996)
Total CECO shareholders' equity 225,443 213,224
Non-controlling interest 4,699 4,924
Total shareholders' equity 230,142 218,148
Total liabilities and shareholders' equity $ 600,057 $ 504,721