Note 13 - Restructuring Activities

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

13.     RESTRUCTURING ACTIVITIES

On January 18, 2019, the Company announced a planned suspension of its APC business operation in China (Beijing Fuel Tech). 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 includes staff rationalization, 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 $6) in addition to collection efforts for the remaining accounts receivable.

The following table presents our revenues and net loss in China for the years ended December 31, 2021 and 2020:

	2021			2020
Total revenues	$	22		$	25
Net loss		(114	)		(281	)

The following table presents net assets in China for the years ended December 31, 2021 and 2020:

	2021		2020
Total assets	$	1,235	$	2,463
Total liabilities		92		396
Total net assets	$	1,143	$	2,067

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 Company recorded no restructuring charges for the years ended December 31, 2021 and 2020.