Advanced emissions solutions, inc. (ADES)
Balance Sheet / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Dec'13Sep'13Jun'13Mar'13Dec'12
ASSETS
Current assets:
Cash, cash equivalents and restricted cash

-

-

-

-

-

18,577

-

-

-

30,693

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash and cash equivalents

12,188

12,080

15,155

15,420

20,670

-

31,914

32,179

34,757

-

26,823

26,373

28,442

13,208

7,603

2,221

5,469

9,265

8,585

10,413

11,738

25,181

37,890

6,388

7,926

11,514

9,737

Investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

105

105

105

105

1,641

Restricted cash

-

-

-

-

-

-

-

-

-

-

0

3,000

8,536

13,736

4,019

4,469

1,414

728

727

2,527

2,527

2,527

0

-

-

-

-

Receivables, net

-

-

-

-

-

-

-

-

-

1,113

-

-

-

8,648

-

-

-

-

-

-

-

-

-

-

-

-

11,025

Accounts Receivable, after Allowance for Credit Loss, Current

5,641

7,430

6,771

5,606

7,772

9,554

817

1,087

1,522

-

1,631

1,958

1,954

-

12,008

8,950

7,354

8,361

9,196

9,218

16,999

16,594

12,943

19,480

6,032

6,692

-

Receivables, related parties

3,045

4,246

4,382

4,189

4,220

4,284

4,104

3,523

3,230

3,247

2,803

1,866

1,755

1,934

1,376

444

794

1,918

2,191

1,665

1,463

1,439

630

722

894

1,125

-

Inventories, net

13,595

15,460

16,917

17,798

18,053

21,791

-

-

-

74

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment securities, restricted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

406

406

406

406

-

Costs in excess of billings on uncompleted contracts

-

-

-

-

-

-

-

-

-

-

0

0

0

-

1,050

1,254

701

2,137

2,402

6,830

4,674

6,153

2,700

3,277

1,550

594

-

Prepaid expenses and other assets

7,605

7,832

6,070

5,598

5,504

5,570

2,631

2,211

1,650

1,761

1,759

1,736

1,736

1,382

1,548

1,781

1,810

2,306

3,358

2,709

2,582

2,535

681

922

963

645

2,888

Total current assets

42,074

47,048

49,295

48,611

56,219

59,776

39,466

39,000

41,159

36,888

33,016

34,933

42,423

38,908

27,604

19,119

17,542

24,715

26,459

33,362

39,983

54,429

55,355

31,300

17,876

21,081

25,291

Restricted Cash, Noncurrent

5,000

5,000

5,000

5,000

5,195

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash, long-term

-

-

-

-

-

5,195

-

-

-

0

-

-

-

-

4,750

6,700

10,359

10,980

10,980

10,680

9,971

8,771

7,667

2,004

-

-

-

Property and Equipment, at cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

53,542

Less accumulated depreciation and amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,931

Property, plant and equipment, net of accumulated depreciation of $9,039 and $7,444, respectively

45,525

44,001

44,168

44,825

42,423

42,697

229

269

337

410

443

468

504

735

1,062

1,218

1,894

2,040

3,411

4,076

4,398

4,808

5,799

5,719

5,979

5,518

44,611

Intangible assets, net

3,973

4,169

4,300

4,501

4,608

4,830

-

-

-

805

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment securities, restricted, long-term

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

336

336

336

336

336

332

1,134

2,637

2,634

-

Cost method investment

-

-

-

-

-

-

-

-

-

-

-

1,016

1,016

-

2,776

2,776

2,776

2,776

2,776

2,776

2,776

2,776

0

-

-

-

-

Equity Method Investments

30,312

39,155

44,111

48,403

46,068

6,634

5,383

5,043

3,154

4,351

3,070

2,739

3,097

3,959

3,091

3,081

5,203

17,232

18,546

20,238

20,266

19,584

3,034

2,494

1,947

1,672

-

Deferred tax assets, net

13,307

14,095

13,491

19,179

24,802

32,539

36,008

38,517

36,186

38,661

-

-

-

61,396

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax assets

-

-

-

-

-

-

-

-

-

-

50,310

53,290

56,010

-

-

-

-

0

-

-

-

-

-

-

-

-

-

Other long-term assets, net

19,992

20,331

18,363

16,553

14,496

7,993

2,070

2,043

2,006

1,503

2,292

1,711

1,725

-

-

-

-

-

-

-

-

-

-

-

-

-

5,847

Investment in unconsolidated entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,850

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

2,298

1,260

3,714

3,809

2,696

2,797

5,029

5,139

2,995

1,337

1,471

1,419

1,292

3,997

Total Assets

160,183

173,799

178,728

187,072

193,811

159,664

83,156

84,872

82,842

82,618

89,131

94,157

104,775

107,296

40,543

36,608

41,583

60,775

65,305

76,497

82,869

93,699

73,524

44,122

29,858

32,197

75,749

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable

8,458

8,046

6,838

6,631

4,785

6,235

660

1,323

1,297

1,000

1,317

1,617

1,202

1,920

2,337

3,263

5,923

6,174

8,929

10,227

7,398

7,514

5,186

6,911

4,910

2,126

6,615

Accounts payable to related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,082

Accrued payroll and related liabilities

2,051

3,024

3,893

3,450

3,779

8,279

1,970

1,536

763

1,384

1,296

1,135

984

2,121

2,763

3,413

5,367

5,800

6,859

7,329

5,027

5,158

5,101

3,147

4,338

3,415

2,569

Billings in excess of costs on uncompleted contracts

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,000

Current portion of long-term debt

24,192

23,932

24,072

24,025

24,166

24,067

-

-

-

0

-

-

-

-

0

0

0

1,837

1,668

1,612

1,499

1,479

0

-

-

-

559

Billings in excess of costs on uncompleted contracts

-

-

-

-

-

-

-

0

0

-

1,863

1,884

4,200

4,947

4,726

5,112

5,864

9,708

16,130

16,038

19,592

22,518

-

-

-

-

-

Short-term borrowings, net of discount and deferred loan costs, related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

10,921

12,676

-

-

-

-

-

-

-

-

-

Deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21,200

Billings in excess of costs on uncompleted contracts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,269

15,285

5,363

5,983

4,489

Legal settlements and accruals

-

-

-

-

-

-

-

-

-

-

4,482

4,327

4,591

10,706

12,448

11,470

5,452

6,502

5,275

4,268

4,068

3,749

4,622

4,352

4,509

4,632

-

Other Liabilities, Current

4,275

4,311

4,287

5,552

7,095

2,138

627

1,100

3,212

4,494

3,318

8,208

3,965

4,017

6,703

7,012

6,324

7,395

8,814

8,540

6,814

6,739

7,381

6,406

2,747

2,580

5,883

Total current liabilities

38,976

39,313

39,090

39,658

39,825

40,719

3,257

3,959

5,272

6,878

12,276

17,171

14,942

23,711

28,977

30,270

39,851

50,092

47,675

48,014

44,398

47,157

42,559

36,101

21,867

18,736

49,397

Long-term debt, net of current portion

-

-

-

-

-

50,058

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term debt, net of current portion

14,189

20,434

26,276

34,204

43,999

-

-

-

-

-

-

-

-

-

0

0

0

13,512

14,022

13,716

13,660

14,431

0

-

-

-

2,305

Legal settlements and accruals, long-term

-

-

-

-

-

-

-

-

-

-

-

-

-

5,382

-

-

-

13,797

-

-

-

-

-

-

-

-

-

Legal settlements and accruals, long-term

-

-

-

-

-

-

-

-

-

-

0

1,076

2,371

-

9,305

11,596

13,619

-

16,218

18,282

19,210

20,273

24,021

24,729

25,248

28,304

-

Advance deposit, related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,362

2,584

-

3,938

5,028

5,797

6,524

8,659

8,907

9,150

9,269

-

Other Liabilities, Noncurrent

5,238

5,760

6,062

5,449

4,071

940

295

293

265

2,285

2,247

2,234

2,181

2,038

2,552

2,871

5,590

8,352

6,098

6,053

5,894

6,011

4,452

4,440

4,372

4,280

-

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

875

Accrued warranty and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,309

Total long-term liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,489

Total Liabilities

58,403

65,507

71,428

79,311

87,895

91,717

3,552

4,252

5,537

9,163

14,523

20,481

19,494

31,131

40,834

47,099

61,644

85,753

87,951

91,093

88,959

94,396

79,691

74,177

60,637

60,589

55,886

Commitments and contingencies (Note 8)

-

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Temporary EquityNon-controlling Interest Subject to Possible Redemption

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60,000

Stockholders’ equity:
Preferred stock: par value of $.001 per share, 50,000,000 shares authorized, none outstanding

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Common stock: par value of $.001 per share, 100,000,000 shares authorized, 23,114,218 and 22,960,157 shares issued, and 18,496,072 and 18,362,624 shares outstanding at March 31, 2020 and December 31, 2019, respectively

23

23

23

23

23

23

23

23

23

22

22

22

22

22

22

22

22

22

22

22

22

22

22

20

20

20

-

Treasury stock, at cost: 4,618,146 and 4,597,533 shares as of March 31, 2020 and December 31, 2019, respectively

47,692

47,533

44,666

44,571

42,433

41,740

27,566

25,508

18,039

16,397

13,024

12,973

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Additional paid-in capital

98,596

98,466

97,706

97,354

96,822

96,750

96,251

95,680

100,187

105,308

110,073

114,882

119,922

119,494

118,868

118,280

116,570

116,029

115,453

114,849

110,908

110,169

106,086

76,323

75,954

75,341

63,724

Retained Earnings (Accumulated Deficit)

50,853

57,336

54,237

54,955

51,504

12,914

10,896

10,425

-4,866

-15,478

-22,463

-28,255

-34,663

-43,351

-119,181

-128,793

-136,653

-141,029

-138,121

-129,467

-117,020

-110,888

-112,275

-106,398

-106,753

-103,753

-79,765

Total stockholders’ equity

101,780

108,292

107,300

107,761

105,916

67,947

79,604

80,620

77,305

73,455

74,608

73,676

85,281

76,165

-291

-10,491

-20,061

-24,978

-22,646

-14,596

-6,090

-697

-6,167

-30,055

-30,779

-28,392

-16,041

Non-controlling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-24,096

Total Stockholders Deficit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-40,137

Total Liabilities and Stockholders’ Equity

160,183

173,799

178,728

187,072

193,811

159,664

83,156

84,872

82,842

82,618

89,131

94,157

104,775

107,296

40,543

36,608

41,583

60,775

65,305

76,497

82,869

93,699

73,524

44,122

29,858

32,197

75,749