Note 4 - Restructuring Activities

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

4.     Restructuring Activities

On January 18, 2019, the Company announced a planned suspension of its Air Pollution Control (“APC”) business operation in China. This action was 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 September 30, 2021 includes staff rationalization and reduction, supplier and partner engagement, and the monetization of certain assets. The remaining transition activities include the execution of the activities to satisfy the requirements for the remaining APC projects in China (with a backlog totaling approximately $10) in addition to collection efforts for the remaining accounts receivable.

The following table presents our revenues and net income (loss) which includes the Restructuring charge line item within the Condensed Statements of Operations for 2021 and 2020 in China as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2021			2020			2021			2020
Total revenues	$	2		$	6		$	17		$	11
Net loss		(47	)		(73	)		(85	)		(31	)

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
	September 30, 2021		December 31, 2020
Total assets	$	1,444	$	2,463
Total liabilities		290		396
Total net assets	$	1,154	$	2,067