Note 4 - Restructuring Activities

9 Months Ended

Sep. 30, 2023

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 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, 2023 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 $3) and those related to subsidiary closure.

The following table presents our revenues and net loss for 2023 and 2022 in China as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2023			2022			2023			2022
Total revenues	$	—		$	1		$	2		$	2
Net loss		(17	)		(142	)		(36	)		(193	)

Total assets primarily consist of cash and other receivables. Total liabilities consist of accounts payable and certain accrued liabilities.

The following table presents net assets in China as follows:

	As of
	September 30, 2023		December 31, 2022
Total assets	$	842	$	929
Total liabilities		73		79
Total net assets	$	769	$	850