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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 41,233 $ 45,522
Restricted cash 971 1,063
Accounts receivable, net 109,889 83,086
Costs and estimated earnings in excess of billings on uncompleted contracts 79,817 71,016
Inventories, net 30,298 26,526
Prepaid expenses and other current assets 11,995 12,174
Prepaid income taxes 1,249 1,271
Total current assets 275,452 240,658
Property, plant and equipment, net 23,879 20,828
Right-of-use assets from operating leases 11,719 11,373
Goodwill 207,788 183,197
Intangible assets – finite life, net 35,414 35,251
Intangible assets – indefinite life 9,536 9,508
Deferred income taxes 821 829
Deferred charges and other assets 2,959 3,077
Total assets 567,568 504,721
Current liabilities:    
Current portion of debt 3,854 3,579
Accounts payable and accrued expenses 111,586 107,198
Billings in excess of costs and estimated earnings on uncompleted contracts 51,923 32,716
Notes Payable Current 1,000 0
Income taxes payable 3,190 3,207
Total current liabilities 171,553 146,700
Other liabilities 15,186 15,129
Debt, less current portion 141,415 107,625
Deferred income tax liability, net 8,711 8,666
Operating lease liabilities 8,521 8,453
Total liabilities 345,386 286,573
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, 34,556,620 and 34,381,668 shares issued and outstanding at March 31, 2023 andDecember 31, 2022, respectively 346 344
Capital in excess of par value 250,971 250,174
Accumulated loss (17,320) (19,298)
Accumulated other comprehensive loss (17,230) (17,996)
Total CECO shareholders' equity 216,767 213,224
Non-controlling interest 5,415 4,924
Total shareholders' equity 222,182 218,148
Total liabilities and shareholders' equity $ 567,568 $ 504,721