Gulf island fabrication inc (GIFI)
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'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
ASSETS
Current assets:
Cash and cash equivalents

48,562

49,703

45,911

30,192

49,898

70,457

45,020

32,004

6,492

8,983

17,792

22,283

34,663

51,167

55,642

50,065

39,202

34,828

45,301

53,384

50,115

36,085

26,707

31,367

23,178

36,569

21,791

29,718

12,254

24,888

26,366

30,590

42,697

55,287

61,192

32,073

88,072

Short-term investments

19,993

19,918

25,457

45,791

20,341

8,720

9,494

7,481

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contract retainage

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

117

111

111

95

1,478

1,467

1,298

1,144

2,120

6,107

4,313

4,712

2,827

11,000

Contracts receivable and retainage, net

16,178

26,095

30,268

23,343

21,658

22,505

28,933

31,928

27,359

28,466

25,513

38,080

21,061

20,169

26,619

40,501

45,306

47,060

35,347

37,402

50,312

80,448

82,287

64,476

92,504

98,579

75,130

73,196

134,191

60,535

91,748

81,157

52,391

72,474

54,355

86,254

13,042

Contract assets

64,905

52,128

50,855

51,334

38,707

29,982

-

-

-

28,373

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Insurance receivable

-

-

-

-

-

-

-

7,197

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

Prepaid subcontractor costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

34,972

31,837

33,145

-

-

-

9,731

-

-

-

Prepaid expenses and other assets

2,005

3,948

3,437

3,987

2,558

3,268

3,456

4,357

3,311

3,833

4,158

2,982

2,369

3,222

4,034

4,814

2,768

3,418

2,438

3,563

3,613

4,510

2,988

4,116

3,586

4,862

3,616

4,721

3,614

4,457

31,354

21,859

13,532

3,344

2,340

3,075

3,674

Contracts in progress

-

-

-

-

-

-

40,187

36,471

37,509

-

42,810

31,643

30,380

26,829

18,679

11,272

13,891

12,822

27,226

25,358

26,194

26,989

21,803

17,564

20,692

24,727

71,789

36,882

24,867

26,317

16,752

25,795

20,602

12,982

20,280

16,252

6,513

Inventory

2,723

2,676

4,358

4,543

5,568

6,088

6,568

5,557

5,053

4,933

12,325

11,871

11,798

11,973

18,281

18,932

17,823

12,936

13,346

9,895

10,145

10,140

10,460

10,787

11,195

11,329

5,135

5,134

5,120

5,024

5,331

5,292

5,740

6,278

5,874

5,692

4,265

Assets held for sale

8,082

9,006

18,518

18,737

18,636

18,935

42,670

43,797

98,386

104,576

107,010

107,262

110,545

0

0

0

0

4,805

0

10,327

10,327

10,327

13,527

13,527

13,527

14,527

13,527

13,527

-

0

-

-

-

-

-

-

-

Deferred tax assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,260

1,155

1,422

-

1,472

3,695

6,885

9,927

7,400

7,488

11,247

13,039

7,454

2,974

6,880

10,157

6,083

7,859

1,301

Income tax receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,349

0

1,161

1,350

723

1,559

1,448

1,365

4,040

4,731

4,796

4,901

4,817

4,164

1,891

3,347

3,123

1,283

2,755

Total current assets

162,448

163,474

178,804

177,927

157,366

159,955

176,328

168,792

178,110

179,164

209,608

214,121

210,816

113,360

123,255

125,584

118,990

115,869

127,267

141,084

153,289

169,849

159,967

147,208

173,126

201,996

188,996

198,320

229,393

173,604

184,966

173,951

149,840

177,913

157,959

155,315

130,622

Property, plant and equipment, net

69,651

70,484

74,770

75,862

77,660

79,930

80,707

81,819

86,006

88,899

90,989

90,698

91,014

206,222

211,215

213,689

217,403

200,384

211,355

215,790

220,379

224,777

230,574

231,930

234,660

223,555

222,970

224,251

227,296

229,216

226,155

222,915

225,866

216,722

214,063

208,132

197,652

Intangible assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,069

2,086

2,105

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term contracts receivable, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

663

-

-

625

2,455

4,218

-

Other receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

5,907

Other noncurrent assets

18,930

18,819

23,591

23,802

23,689

18,405

5,922

6,078

5,006

2,777

2,783

2,767

2,830

2,826

673

672

670

670

674

672

671

671

666

676

673

683

683

681

675

675

674

672

673

675

674

673

675

Total assets

251,029

252,777

277,165

277,591

258,715

258,290

262,957

256,689

269,122

270,840

303,380

307,586

304,660

322,408

337,212

342,031

339,168

316,923

339,296

357,546

374,339

395,297

391,207

379,814

408,459

426,234

426,176

436,779

457,364

403,495

412,458

397,538

376,379

395,935

375,151

368,338

334,856

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable

70,542

61,542

58,781

55,238

36,511

28,969

20,166

15,965

18,869

18,375

21,457

19,329

8,501

9,021

8,654

12,079

8,922

13,604

14,870

15,779

25,803

40,272

34,275

32,623

54,585

66,054

52,917

67,900

83,351

49,485

58,924

29,170

17,742

20,502

17,484

20,000

5,262

Advance billings on contracts

-

-

-

-

-

-

14,930

4,165

4,301

-

4,367

8,642

4,762

3,977

7,154

7,328

7,685

7,081

5,272

9,228

13,208

18,766

19,820

19,561

28,617

35,006

42,299

39,973

39,419

28,498

13,881

27,217

23,075

49,363

36,785

30,544

7,215

Contract liabilities

11,571

26,271

15,682

13,823

9,234

16,845

829

928

2,312

4,676

4,148

5,406

6,577

11,881

14,178

16,466

20,179

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued contract losses

-

-

-

-

-

-

6,033

5,999

6,320

-

1,982

3,514

152

387

1,494

3,521

5,859

9,495

2,184

213

167

817

-

-

-

-

1,538

2,508

1,820

3,790

9,484

-

-

-

-

-

-

Accrued employee costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,493

8,127

7,618

-

8,066

7,217

6,791

7,723

8,563

7,281

6,574

7,516

7,818

7,569

5,727

5,340

7,023

7,805

7,237

3,512

3,917

3,936

4,506

Accrued expenses and other liabilities

8,077

10,031

10,359

9,719

9,605

10,287

10,339

9,062

9,006

12,860

13,685

9,236

7,541

10,032

3,510

2,474

1,629

7,608

2,817

2,384

5,512

5,187

4,247

3,107

3,588

3,699

4,298

4,403

4,165

5,161

4,312

3,195

2,832

2,610

3,806

2,667

1,528

Income tax payable

-

-

-

-

-

-

-

0

232

-

0

257

347

50

-

-

-

113

-

100

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total current liabilities

90,190

97,844

84,822

78,780

55,350

56,101

52,297

36,119

41,040

48,665

45,639

46,384

27,880

35,348

43,483

49,995

51,892

37,901

33,209

34,921

51,481

72,765

66,905

62,572

93,364

112,275

108,870

122,353

134,482

92,274

93,624

67,387

50,886

75,987

61,992

57,147

18,511

Deferred revenue, noncurrent

-

-

-

-

-

-

2,489

2,489

1,674

769

0

0

80

489

2,029

1,408

6,284

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net deferred tax liabilities

-

-

-

-

-

-

-

-

-

-

12,999

14,450

20,199

23,234

25,476

25,724

22,369

21,825

33,530

37,174

38,007

36,734

36,887

36,211

37,179

38,397

37,483

36,493

37,912

37,721

36,167

35,881

37,296

37,149

31,410

30,431

29,153

Outstanding borrowings under our Credit Agreement

-

-

-

-

-

-

-

-

10,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other noncurrent liabilities

2,228

2,248

5,299

5,369

5,461

1,089

3,035

2,691

2,322

1,913

895

698

501

305

109

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable, revolver

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,000

-

-

-

-

-

-

-

-

Total liabilities

92,418

100,092

90,121

84,149

60,811

57,190

57,821

41,299

55,036

51,347

59,533

61,532

48,660

59,376

71,097

77,127

80,545

59,726

66,739

72,095

89,488

109,499

103,792

98,783

130,543

150,672

146,353

158,846

182,394

129,995

129,791

103,268

88,182

113,136

93,402

87,578

47,664

Shareholders’ equity:
Preferred stock, no par value, 5,000 shares authorized, no shares issued and 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

0

0

0

0

0

0

0

Common stock, no par value, 30,000 shares authorized, 15,290 shares issued and outstanding at March 31, 2020 and 15,263 at December 31, 2019

11,121

11,119

11,123

11,085

11,006

11,021

10,957

10,888

10,813

10,823

10,817

10,711

10,598

10,641

10,579

10,499

10,411

10,352

10,275

10,204

10,133

10,090

10,094

10,067

10,040

10,012

9,992

9,985

9,971

9,956

9,944

9,922

9,928

9,921

9,917

9,889

9,846

Additional paid-in capital

103,143

103,124

103,154

102,811

102,104

102,243

101,661

101,035

100,355

100,456

100,388

99,442

98,427

98,813

98,256

97,520

96,718

96,194

95,496

94,857

94,220

93,828

93,864

93,625

93,382

93,125

92,836

92,769

92,640

92,512

92,147

91,945

92,002

91,933

91,781

91,508

91,112

Retained earnings

44,347

38,442

72,767

79,546

84,794

87,836

92,518

103,467

102,918

108,214

132,642

135,901

146,975

153,578

157,280

156,885

151,494

150,651

166,786

180,390

180,498

181,880

183,457

177,339

174,494

172,425

176,995

175,179

172,359

171,032

180,576

192,403

186,267

180,945

180,051

179,363

186,234

Total shareholders’ equity

158,611

152,685

187,044

193,442

197,904

201,100

205,136

215,390

214,086

219,493

243,847

246,054

256,000

263,032

266,115

264,904

258,623

257,197

272,557

285,451

284,851

285,798

287,415

281,031

277,916

275,562

279,823

277,933

274,970

273,500

282,667

294,270

288,197

282,799

281,749

280,760

287,192

Total liabilities and shareholders’ equity

251,029

252,777

277,165

277,591

258,715

258,290

262,957

256,689

269,122

270,840

303,380

307,586

304,660

322,408

337,212

342,031

339,168

316,923

339,296

357,546

374,339

395,297

391,207

379,814

408,459

426,234

426,176

436,779

457,364

403,495

412,458

397,538

376,379

395,935

375,151

368,338

334,856