|
| | | | | | | | | | | | | | | | | | |
| ENGlobal Corporate Services, Inc. |
| Consolidating Balance Sheet |
| For the Twelve Months Ending December 31, 2010 |
| | | | | | | |
| | | | ENGINEERING & | | FIELD | |
| | CONSOLIDATED | CORPORATE | CONSTRUCTION | AUTOMATION | SOLUTIONS | ELIM |
| ASSETS | | | | | | |
| CURRENT ASSETS | | | | | | |
| CASH | $ | 48,860.14 |
| $ | 41,037.88 |
| $ | 5,867.06 |
| | $ | 1,955.20 |
| |
| TOTAL CASH | 48,860.14 |
| 41,037.88 |
| 5,867.06 |
| — |
| 1,955.20 |
| — |
|
| ACCOUNTS RECEIVABLE - TRADE | 43,178,798.63 |
| (106,328.1 | ) | 24,405,348.56 |
| 9,610,067.72 |
| 9,269,710.45 |
| |
| CLAIMS RECEIVABLE | 713,902.14 |
| | 372,002.19 |
| 321,434.03 |
| 20,465.92 |
| |
| RETENTION RECEIVABLE | 1,802,632.35 |
| | 890,360.49 |
| 912,271.86 |
| | |
| ALLOWANCE FOR DOUBTFUL ACCOUNTS | (1,416,588.85 | ) | | (1,023,764.66 | ) | (290,732.34 | ) | (102,091.85 | ) | |
| ALLOWANCE FOR CLAIMS RECEIVABLE | (713,902.14 | ) | | (372,002.19 | ) | (321,434.03 | ) | (20,465.92 | ) | |
| UNBILLED RECEIVABLES - TRADE | 12,499,313.73 |
| | 6,377,193.03 |
| 1,747,744.05 |
| 4,374,376.65 |
| |
| TOTAL ACCOUNTS RECEIVABLE | 56,064,155.86 |
| (106,328.1 | ) | 30,649,137.42 |
| 11,979,351.29 |
| 13,541,995.25 |
| — |
|
| NOTE RECEIVABLE - ALON | 2,579,045.57 |
| | 2,579,045.57 |
| | | |
| COSTS IN EXCESS OF BILLINGS | 5,129,267.00 |
| | 747,915.82 |
| 4,381,351.18 |
| | |
| ACCOUNTS RECEIVABLE - OTHER | 300,843.18 |
| 4,200.00 |
| 88,417.86 |
| 197,344.55 |
| 10,880.77 |
| |
| PREPAID EXPENSES | 1,500,142.06 |
| 1,144,767.13 |
| 338,090.47 |
| | 17,284.46 |
| |
| TOTAL PREPAID AND OTHER | 1,800,985.24 |
| 1,148,967.13 |
| 426,508.33 |
| 197,344.55 |
| 28,165.23 |
| — |
|
| FEDERAL INCOME TAXES RECEIVABLE | 7,299,334.42 |
| 7,294,295.91 |
| | 5,038.51 |
| | |
| STATE INCOME TAXES RECEIVABLE | (458,369.36 | ) | (700,129.7 | ) | 203,769.84 |
| 14,733.08 |
| 23,257.42 |
| |
| DEFERRED TAX ASSET | 2,618,454.11 |
| 2,618,454.11 |
| | | | |
| TOTAL CURRENT ASSETS | 75,081,732.98 |
| 10,296,297.23 |
| 34,612,244.04 |
| 16,577,818.61 |
| 13,595,373.10 |
| — |
|
| PROPERTY & EQUIPMENT | | | | | | |
| MACHINERY & EQUIPMENT | 1,777,084.62 |
| 92,308.91 |
| 709,993.06 |
| 708,157.27 |
| 266,625.38 |
| |
| FURNITURE & FIXTURES | 1,484,688.74 |
| 187,025.43 |
| 1,068,014.00 |
| 148,497.14 |
| 81,152.17 |
| |
| AUTOS & TRUCKS | 736,185.11 |
| | 311,105.55 |
| 425,079.56 |
| | |
| COMPUTER EQUIPMENT | 4,534,419.57 |
| 1,060,799.61 |
| 2,911,546.50 |
| 474,962.15 |
| 87,111.31 |
| |
| SOFTWARE | 4,582,182.09 |
| 1,164,797.12 |
| 3,166,519.67 |
| 106,800.97 |
| 144,064.33 |
| |
| LEASEHOLD IMPROVEMENTS | 2,792,768.32 |
| 67,538.08 |
| 1,152,583.13 |
| 1,551,600.10 |
| 21,047.01 |
| |
| CONSTRUCTION IN PROGRESS | 194,645.77 |
| 3,825.66 |
| 168,185.41 |
| | 22,634.70 |
| |
| TOTAL PROPERTY & EQUIPMENT | 16,101,974.22 |
| 2,576,294.81 |
| 9,487,947.32 |
| 3,415,097.19 |
| 622,634.90 |
| — |
|
| LESS ACCUM DEPRECIATION | (11,598,653.09 | ) | (1,998,595.64 | ) | (7,936,225.24 | ) | (1,243,940.43 | ) | (419,891.78 | ) | |
| PROPERTY & EQUIPMENT, NET | 4,503,321.13 |
| 577,699.17 |
| 1,551,722.08 |
| 2,171,156.76 |
| 202,743.12 |
| — |
|
| GOODWILL | 22,614,395.89 |
| | 15,288,117.46 |
| 2,085,742.71 |
| 5,240,535.72 |
| |
| NOTE RECEIVABLE - SLE | 1,360,891.21 |
| | 1,360,891.21 |
| | | |
| NET LONG TERM NOTE RECEIVABLE | 1,360,891.21 |
| — |
| 1,360,891.21 |
| — |
| — |
| — |
|
| OTHER ASSETS | | | | | | |
| DEFERRED TAX NON-CURRENT | 1,423,489.29 |
| 1,423,489.29 |
| | | | |
| DEFERRED FINANCING COSTS | 55,302.62 |
| 55,302.62 |
| | | | |
| DEPOSITS | 309,358.20 |
| 52,958.00 |
| 121,852.28 |
| 70,264.23 |
| 64,283.69 |
| |
| OTHER INTANGIBLES | 4,975,229.59 |
| | 397,818.00 |
| 3,978,338.63 |
| 599,072.96 |
| |
| INVESTMENT - US SYNGAS | 412,890.00 |
| | 412,890.00 |
| | | |
| RESERVE - US SYNGAS | (412,890 | ) | | (412,890 | ) | | | |
| INVESTMENTS IN SUBSIDIARIES | — |
| 69,882,607.92 |
| | (4,242,001.35 | ) | 233,922.18 |
| (65,874,528.75 | ) |
| DUE TO/FROM AFFILIATE | — |
| (6,615,639.69 | ) | 31,492,989.87 |
| (19,318,100.6 | ) | (5,559,249.58 | ) | |
| TOTAL OTHER ASSETS | 6,763,379.70 |
| 64,798,718.14 |
| 32,012,660.15 |
| (19,511,499.09 | ) | (4,661,970.75 | ) | (65,874,528.75 | ) |
| ACCOUNTS RECEIVABLE - AFFILIATE | 10,085,889.73 |
| | 9,068,353.57 |
| 315,194.09 |
| 702,342.07 |
| |
| UNBILLED RECEIVABLES - AFFILIATE | 37,240.16 |
| | | 37,240.16 |
| | |
| ACCOUNTS PAYABLE - AFFILIATE | (9,962,884.4 | ) | | (9,962,884.4 | ) | | | |
| ACCRUED PAYABLE - AFFILIATE | (160,245.49 | ) | | (59,473.66 | ) | (99,130.14 | ) | (1,641.69 | ) | |
| | — |
| — |
| (954,004.49 | ) | 253,304.11 |
| 700,700.38 |
| — |
|
| TOTAL ASSETS | $ | 110,323,720.91 |
| $ | 75,672,714.54 |
| $ | 83,871,630.45 |
| $ | 1,576,523.10 |
| $ | 15,077,381.57 |
| $ | (65,874,528.75 | ) |
| | | | | | | |
| LIABILITIES AND EQUITY | | | | | | |
| CURRENT LIABILITIES | | | | | | |
| ACCOUNTS PAYABLE-TRADE | $ | 3,991,752.60 |
| $ | 429,025.91 |
| $ | 2,301,026.44 |
| $ | 1,183,094.46 |
| $ | 78,605.79 |
| |
| BANK OVERDRAFT | 1,858,277.73 |
| 1,327,903.90 |
| 180,851.48 |
| 165,622.56 |
| 183,899.79 |
| |
| ACCRUED PAYABLE-TRADE | 3,579,536.64 |
| 501,055.57 |
| 1,769,537.60 |
| 1,270,742.75 |
| 38,200.72 |
| |
| TOTAL ACCOUNTS PAYABLE | 9,429,566.97 |
| 2,257,985.38 |
| 4,251,415.52 |
| 2,619,459.77 |
| 300,706.30 |
| — |
|
| ACCRUED SALARIES | 4,352,560.74 |
| 119,725.34 |
| 1,761,624.72 |
| 370,860.83 |
| 2,100,349.85 |
| |
| ACCRUED CAR ALLOWANCES | (692.32 | ) | | (692.32 | ) | | | |
| ACCRUED COMPENSATED ABSENSES | 4,020,552.13 |
| 316,315.97 |
| 2,872,108.42 |
| 705,835.54 |
| 126,292.20 |
| |
| ACCRUED BONUS | 595,764.01 |
| 26,689.33 |
| 68,396.42 |
| 500,678.26 |
| | |
| SELF-INSURED HEALTH PLAN | 1,200,443.05 |
| 1,200,443.05 |
| | | | |
| PAYROLL TAXES | 699,675.49 |
| 57,497.18 |
| 534,205.27 |
| 155,581.22 |
| (47,608.18 | ) | |
| OTHER PAYROLL DEDUCTIONS | 339,521.54 |
| 124,362.11 |
| 125,456.64 |
| 55,905.12 |
| 33,797.67 |
| |
| ACCRUED WORKER'S COMPENSATION | 13,311.91 |
| (9,008.78 | ) | (90,812.69 | ) | 6,036.79 |
| 107,096.59 |
| |
| ACCRUED SALARIES & BENEFITS | 11,221,136.55 |
| 1,836,024.20 |
| 5,270,286.46 |
| 1,794,897.76 |
| 2,319,928.13 |
| — |
|
| INSURANCE NOTE PAYABLE | 579,046.92 |
| 579,046.92 |
| | | | |
| ACCRUED RENT PAYABLE | 628,615.60 |
| | 388,177.16 |
| 193,367.75 |
| 47,070.69 |
| |
| WESTECH ENGINEERING | 1,490,768.68 |
| | 1,490,768.68 |
| | | |
| TOTAL NOTES PAYABLE | 2,698,431.20 |
| 579,046.92 |
| 1,878,945.84 |
| 193,367.75 |
| 47,070.69 |
| — |
|
| CURRENT PORTION OF LONG TERM | 19,041,696.40 |
| 18,698,320.85 |
| 93,956.55 |
| 249,419.00 |
| | |
| CURRENT PORTION OF LEASES | 50,748.26 |
| 50,748.26 |
| | | | |
| BILLINGS IN EXCESS OF COSTS | 1,233,422.49 |
| | 187,955.97 |
| 1,045,466.52 |
| | |
| ACCRUED INTEREST | 72,909.10 |
| 53,723.35 |
| | 19,185.75 |
| | |
| PROJECT RESERVES | 344,555.81 |
| | 248,681.89 |
| | 95,873.92 |
| |
| ACCOUNTS PAYABLE-OTHER | 795,611.57 |
| | 308,695.60 |
| 486,915.97 |
| | |
| ACCRUED SALES TAXES | 3,819.91 |
| | 1,809.70 |
| 2,010.21 |
| | |
| ACCRUED PROPERTY TAX | 11,914.06 |
| 6,361.74 |
| 2,567.60 |
| 1,057.16 |
| 1,927.56 |
| |
| ACCRUED GEN LIABILITY INSURANCE | (21,022.62 | ) | 6,352.74 |
| (59,375.74 | ) | 23,017.21 |
| 8,983.17 |
| |
| WARRANTY RESERVE | 86,409.83 |
| | | 86,409.83 |
| | |
| TOTAL OTHER LIABILITIES | 1,294,197.66 |
| 66,437.83 |
| 502,379.05 |
| 618,596.13 |
| 106,784.65 |
| — |
|
| TOTAL CURRENT LIABILITIES | 44,969,199.53 |
| 23,488,563.44 |
| 12,184,939.39 |
| 6,521,206.93 |
| 2,774,489.77 |
| — |
|
| LONG TERM LIABILITIES | | | | | | |
| LINE OF CREDIT | 18,698,320.85 |
| 18,698,320.85 |
| | | | |
| DISCOUNT ON NOTES PAYABLE | (3,997.85 | ) | | (3,997.85 | ) | | | |
| ICP TRANSCO INC | 100,000.00 |
| | 100,000.00 |
| | | |
| CDI, LP | 500,000.00 |
| | | 500,000.00 |
| | |
| LONG TERM NOTES PAYABLE | 19,294,323.00 |
| 18,698,320.85 |
| 96,002.15 |
| 500,000.00 |
| — |
| — |
|
| LESS CURRENT PORTION | (19,041,696.4 | ) | (18,698,320.85 | ) | (93,956.55 | ) | (249,419 | ) | | |
| NET LONG TERM NOTES | 252,626.60 |
| — |
| 2,045.60 |
| 250,581.00 |
| — |
| — |
|
| LONG TERM LEASES | | | | | | |
| DELL FINANCIAL SERVICES | 50,748.26 |
| 50,748.26 |
| | | | |
| LONG TERM LEASES | 50,748.26 |
| 50,748.26 |
| — |
| — |
| — |
| — |
|
| CURRENT PORTION OF LEASES | (50,748.26 | ) | (50,748.26 | ) | | | | |
| TOTAL LONG TERM LIABILITIES | 252,626.60 |
| — |
| 2,045.60 |
| 250,581.00 |
| — |
| — |
|
| TOTAL LIABILITIES | 45,221,826.13 |
| 23,488,563.44 |
| 12,186,984.99 |
| 6,771,787.93 |
| 2,774,489.77 |
| — |
|
| STOCKHOLDERS' EQUITY | | | | | | |
| COMMON STOCK | $ | 27,657.38 |
| $ | 28,657.38 |
| $ | 3,000.00 |
| $ | 2,000.01 |
| $ | 1,000.01 |
| $ | (7,000.02 | ) |
| PAID IN CAPITAL | 37,608,559.80 |
| 35,103,963.00 |
| 36,201,777.42 |
| 5,411,086.58 |
| 6,599,878.54 |
| (45,708,145.74 | ) |
| RETAINED EARNINGS | 41,672,568.82 |
| 15,349,542.84 |
| 46,126,714.64 |
| (6,183,211.47 | ) | 6,538,905.80 |
| (20,159,382.99 | ) |
| YEAR-TO-DATE EARNINGS (LOSS) | (11,751,914.33 | ) | 4,064,482.77 |
| (10,646,846.6 | ) | (4,355,290.58 | ) | (814,259.92 | ) | |
| CUMULATIVE TRANSLATION ADJUSTMENTS | (92,482 | ) | | | (69,849.37 | ) | (22,632.63 | ) | |
| TREASURY STOCK | (2,362,494.89 | ) | (2,362,494.89 | ) | | | | |
| TOTAL STOCKHOLDER'S EQUITY | 65,101,894.78 |
| 52,184,151.10 |
| 71,684,645.46 |
| (5,195,264.83 | ) | 12,302,891.80 |
| (65,874,528.75 | ) |
| TOTAL LIABILITIES & EQUITY | $ | 110,323,720.91 |
| $ | 75,672,714.54 |
| $ | 83,871,630.45 |
| $ | 1,576,523.10 |
| $ | 15,077,381.57 |
| $ | (65,874,528.75 | ) |
