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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents ($30,006 and $26,122 related to variable interest entities (“VIEs”)) $ 93,630 $ 66,185
Accounts receivable ($26,778 and $25,789 related to VIEs) 211,529 177,424
Contract assets ($11,704 and $8,370 related to VIEs) 86,184 84,975
Receivables from and equity in construction joint ventures ($6,027 and $9,708 related to VIEs) 18,011 16,653
Other current assets ($3,188 and $1,493 related to VIEs) 24,738 16,306
Total current assets 434,092 361,543
Property and equipment, net ($9,539 and $6,010 related to VIEs) 142,015 126,668
Operating lease right-of-use assets, net ($4,279 and $4,213 related to VIEs) 16,609 16,515
Goodwill ($1,501 and $1,501 related to VIEs) 192,014 192,014
Other intangibles, net 239,155 244,887
Deferred tax asset, net 0 7,817
Other non-current assets, net 3,305 3,250
Total assets 1,027,190 952,694
Current liabilities:    
Accounts payable ($26,209 and $19,505 related to VIEs) 137,934 95,201
Contract liabilities ($17,953 and $17,678 related to VIEs) 141,236 114,019
Current maturities of long-term debt ($6,793 and $6,793 related to VIEs) 23,186 77,434
Current portion of long-term lease obligations ($2,011 and $1,801 related to VIEs) 7,942 7,588
Accrued compensation ($3,608 and $2,141 related to VIEs) 27,134 18,013
Other current liabilities ($1,472 and $1,374 related to VIEs) 8,810 9,629
Total current liabilities 346,242 321,884
Long-term debt ($79 and $53 related to VIEs) 303,531 291,249
Long-term lease obligations ($2,268 and $2,412 related to VIEs) 8,783 8,958
Members’ interest subject to mandatory redemption and undistributed earnings 56,488 51,290
Deferred tax liability, net 3,956 0
Other long-term liabilities ($722 and $722 related to VIEs) 9,420 10,584
Total liabilities 728,420 683,965
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Common stock, par value $0.01 per share; 38,000 shares authorized, 28,638 and 28,279 shares issued, 28,638 and 28,184 shares outstanding 286 283
Additional paid in capital 253,467 256,423
Treasury stock, at cost: 0 and 95 shares 0 (1,445)
Retained earnings 47,884 17,273
Accumulated other comprehensive loss (3,641) (5,264)
Total Sterling stockholders’ equity 297,996 267,270
Noncontrolling interests 774 1,459
Total stockholders’ equity 298,770 268,729
Total liabilities and stockholders’ equity $ 1,027,190 $ 952,694