Target hospitality corp. (TH)
Balance Sheet / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17
Assets
Current assets:
Cash and cash equivalents

6,787

3,539

10,393

23,120

12,194

476

639

696

0

Accounts receivable, less allowance for doubtful accounts of $989 and $39, respectively

48,483

48,558

51,679

55,132

57,106

-

-

-

-

Prepaid expenses and other assets

4,649

3,237

3,443

4,387

3,965

-

-

-

-

Related party receivable

876

645

588

-

-

-

-

-

-

Notes due from affiliates

-

-

-

-

638

-

-

-

-

Notes due from officers

-

-

-

-

1,083

-

-

-

-

Prepaid expenses

-

-

-

-

-

97

122

146

0

Total current assets

60,795

55,979

66,103

82,639

74,986

574

762

843

0

Restricted cash

52

167

257

257

257

-

-

-

-

Specialty rental assets, net

353,695

354,056

339,302

305,458

293,559

-

-

-

-

Other property, plant and equipment, net

11,541

19,065

19,372

18,678

18,882

-

-

-

-

Goodwill

41,038

41,038

41,171

34,180

34,180

-

-

-

-

Other intangible assets, net

117,866

121,444

125,328

123,857

127,383

-

-

-

-

Deferred tax asset

6,427

8,010

10,921

14,457

12,420

-

-

-

-

Deferred financing costs revolver, net

4,688

5,006

5,471

5,782

2,865

-

-

-

-

Notes due from officers

-

-

-

-

500

-

-

-

-

Other non-current assets

4,690

2,978

804

78

-

-

-

-

-

Deferred offering costs

-

-

-

-

-

0

0

0

242

Cash and investments held in Trust Account

-

-

-

-

-

328,850

327,246

325,900

0

Total assets

600,792

607,743

608,729

585,386

565,032

329,425

328,008

326,743

242

Liabilities
Current liabilities:
Accounts payable

7,793

19,812

19,156

40,940

21,597

-

-

-

-

Accrued liabilities

35,330

22,234

28,072

21,591

23,300

-

-

-

-

Deferred revenue and customer deposits

16,809

16,679

17,148

16,852

17,805

-

-

-

-

Current portion of capital lease and other financing obligations (Note 11)

989

374

570

971

2,446

-

-

-

-

Accounts payable and accrued expenses

-

-

-

-

-

167

206

111

225

Total current liabilities

60,921

59,099

64,946

80,354

65,148

167

206

111

225

Other liabilities:
Long-term debt (Note 11):
Principal amount

340,000

340,000

340,000

340,000

-

-

-

-

-

Less: unamortized original issue discount

2,876

3,014

3,154

3,281

-

-

-

-

-

Less: unamortized term loan deferred financing costs

13,866

14,533

15,607

16,232

-

-

-

-

-

Long-term debt, net

421,985

410,490

410,570

380,971

-

-

-

-

-

Long-term capital lease and other financing obligations (Note 11)

996

116

-

-

14

-

-

-

-

Note due to affiliates

-

-

-

-

108,047

-

-

-

-

Deferred revenue and customer deposits

9,390

12,823

14,003

16,699

19,571

-

-

-

-

Asset retirement obligations

2,825

2,769

2,713

2,664

2,600

-

-

-

-

Other non-current liabilities

-

-

-

-

101

-

-

-

-

Deferred underwriting compensation

-

-

-

-

-

11,375

11,375

11,375

0

Total liabilities

477,390

467,260

472,901

460,204

216,041

11,542

11,581

11,486

225

Class A ordinary shares subject to possible redemption; 31,351,920 shares at approximately $10.00 per share at December 31, 2018

-

-

-

-

-

312,882

311,426

310,257

0

Stockholders' equity:
Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding

-

-

-

-

-

0

0

0

0

Common stock, $0.0001 par, 380,000,000 authorized, 105,254,929 issued and 100,840,162 outstanding as of December 31, 2019 and 74,786,327 issued and outstanding as of December 31, 2018.

10

10

10

10

7

-

-

-

-

Common stock held in treasury at cost, 4,414,767 and 0 shares as of December 31, 2019 and December 31, 2018, respectively.

23,559

5,591

-

-

-

-

-

-

-

Additional paid-in-capital

111,794

110,942

110,345

110,135

319,968

1,633

3,088

4,257

24

Accumulated other comprehensive loss

-2,558

-2,527

-2,607

-2,463

-2,463

-

-

-

-

Accumulated earnings

37,715

37,649

28,080

17,500

31,479

3,366

1,910

741

-8

Total stockholders' equity

123,402

140,483

135,828

125,182

348,991

5,000

5,000

5,000

16

Total liabilities and stockholders' equity

600,792

607,743

608,729

585,386

565,032

329,425

328,008

326,743

242

Senior Secured Notes 2024
Principal amount

340,000

340,000

340,000

340,000

-

-

-

-

-

Less: unamortized original issue discount

2,900

3,000

3,200

3,281

-

-

-

-

-

Less: unamortized term loan deferred financing costs

13,866

14,533

15,607

16,232

-

-

-

-

-

Long-term debt, net

323,258

322,453

321,239

320,487

-

-

-

-

-

New ABL Facility
Less: unamortized term loan deferred financing costs

4,100

4,100

4,100

4,100

-

-

-

-

-

Long-term debt, net

80,000

70,000

70,000

40,000

20,550

-

-

-

-

Revolving credit facility (Note 11)

80,000

70,000

70,000

40,000

20,550

-

-

-

-

Common Class A [Member]
Common Stock, Value

-

-

-

-

-

-

-

-

0

Common Class B [Member]
Common Stock, Value

-

-

-

-

-

-

-

-

0