Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 87,503	$ 89,715
Accounts receivable, less allowances (March 31, 2020—$1,821 and June 30, 2019—$923)	209,195	218,432
Costs and estimated earnings in excess of billings on uncompleted contracts	56,859	96,083
Inventories	7,738	8,017
Income taxes receivable	1,924	29
Other current assets	8,429	5,034
Total current assets	371,648	417,310
Property, plant and equipment at cost:
Land and buildings	43,162	41,179
Construction equipment	94,064	91,793
Transportation equipment	55,793	52,526
Office equipment and software	38,122	43,632
Construction in progress	7,320	7,619
Property, plant and equipment at cost, gross	238,461	236,749
Accumulated depreciation	(154,493)	(157,414)
Property, plant and equipment at cost, net	83,968	79,335
Operating lease right-of-use assets	25,840	0
Goodwill	60,277	93,368
Other intangible assets, net of accumulated amortization	11,114	19,472
Deferred income taxes	5,462	2,683
Other assets	9,038	21,226
Total assets	567,347	633,394
Current liabilities:
Accounts payable	77,246	114,647
Billings on uncompleted contracts in excess of costs and estimated earnings	100,566	105,626
Accrued wages and benefits	23,013	38,357
Accrued insurance	9,065	9,021
Operating lease liabilities	8,639	0
Income taxes payable	0	2,517
Other accrued expenses	5,548	5,331
Total current liabilities	224,077	275,499
Deferred income taxes	0	298
Operating lease liabilities	22,660	0
Borrowings under senior secured revolving credit facility	8,888	5,347
Other liabilities	296	293
Total liabilities	255,921	281,437
Commitments and contingencies
Matrix Service Company stockholders' equity:
Common stock—$.01 par value; 60,000,000 shares authorized; 27,888,217 shares issued as of March 31, 2020 and June 30, 2019; 26,131,355 and 26,807,203 shares outstanding as of March 31, 2020 and June 30, 2019	279	279
Additional paid-in capital	137,306	137,712
Retained earnings	212,124	239,476
Accumulated other comprehensive loss	(8,726)	(7,751)
Matrix Service Company stockholders' equity	340,983	369,716
Less: Treasury stock, at cost — 1,756,862 shares as of March 31, 2020, and 1,081,014 shares as of June 30, 2019	(29,557)	(17,759)
Total stockholders' equity	311,426	351,957
Total liabilities and stockholders’ equity	$ 567,347	$ 633,394