Restructuring Activities

On January 18, 2019, the Company announced a planned suspension of its Air Pollution Control (“APC”) business operation in China. This action is part of Fuel Tech’s ongoing operational improvement initiatives designed to prioritize resource allocation, reduce costs, and drive profitability for the Company on a global basis. The transition associated with the suspension of the APC business which has taken place through March 31, 2020 includes staff rationalization and reduction, supplier and partner engagement, and the monetization of certain assets. The remaining transition activities include the execution of the remaining activities to satisfy the requirements for the remaining APC projects in China (with a backlog totaling approximately $32) in addition to collection efforts for the remaining accounts receivable.

The following table presents our revenues and net loss (which includes the Restructuring charge line item within the Condensed Statements of Operations for 2019 in China as follows:

Total assets primarily consist of cash, accounts receivable, contract assets, prepaid expenses and other current assets. Total liabilities consist of accounts payable and certain accrued liabilities.

The following table presents net assets in China as follows:



	As of
	March 31, 2020		December 31, 2019
Total assets	$	3,332	$	4,249
Total liabilities	316		399
Total net assets	$	3,016	$	3,850

The Company has incurred $0 and $532 during the three months ending March 31, 2020 and 2019 for severance costs related to the suspension of the APC business in China.

On January 23, 2019, the Company notified the landlord of our intention to early terminate the lease on July 22, 2019. The Company incurred an early termination penalty of $63 during the first quarter of 2019.

There is no liability for the three months ending March 31, 2020. The following is a reconciliation of the accrual for the workforce reduction that is included within the "Accrued Liabilities - Employee Compensation" line of the consolidated balance sheets for the three months ending March 31, 2020 and 2019:



	Three Months Ended March 31,
	2020		2019
Restructuring liability at beginning of period	$	—	$	65
Amounts expensed	—		595
Amounts paid	—		(287		)
Restructuring liability at end of period	$	—	$	373

Three Months Ended
March 31,

Total revenues

Net income (loss)