Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Jun. 30, 2021
Dec. 31, 2020
Current assets:      
Cash and cash equivalents $ 39,581   $ 22,478
Accounts receivable, net of allowance for doubtful accounts of $987 and $1,044 as of September 30, 2021 and December 31, 2020, respectively 97,107   28,896
Inventories [1] 64,792   58,784
Income tax receivable     11,457
Prepaid expenses and other current assets 7,973   11,406
Total current assets 209,453   133,021
Property, plant, and equipment—net 48,496   48,235
Goodwill 486,375   482,041
Customer lists—net 271,390   304,308
Existing technology and patents—net 126,967   135,928
Other intangible assets—net 33,232   33,464
Other assets 863   1,209
Total assets 1,176,776   1,138,206
Current liabilities:      
Current portion of long-term debt, net of unamortized debt issuance costs 5,610   6,723
Accounts payable 22,840   9,869
Deferred revenue 1,117   286
Accrued expenses and other current liabilities 21,296   16,045
Total current liabilities 50,863   32,923
Long-term debt, less current portion, net of unamortized debt issuance costs 679,540   680,548
Deferred income taxes 106,792   112,162
Other liabilities 20,951   21,151
Total liabilities 858,146   846,784
Commitments and contingencies (Note 12)  
Shareholders equity:      
Common stock, $1 par value per share; 53,045,510 shares authorized as of September 30, 2021 and December 31, 2020; 53,045,510 shares issued and outstanding as of September 30, 2021 and December 31, 2020 53,046   53,046
Additional paid-in capital 289,344   289,344
Accumulated other comprehensive loss (5,598)   (3,174)
Accumulated deficit (18,162)   (47,794)
Total shareholders' equity 318,630 $ 268,641 291,422
Total liabilities and shareholders' equity 1,176,776   $ 1,138,206
Perimeter Solutions S A      
Current assets:      
Cash 36  
Total assets 36  
Current liabilities:      
Total liabilities 0 0  
Shareholders equity:      
Note receivable from EverArc Holdings Ltd. (40)  
Common stock, $1 par value per share; 53,045,510 shares authorized as of September 30, 2021 and December 31, 2020; 53,045,510 shares issued and outstanding as of September 30, 2021 and December 31, 2020 40 40  
Accumulated deficit (4)  
Total shareholders' equity 36  
Total liabilities and shareholders' equity $ 36  
[1] Amounts include $542 and $2,505 of inventory purchased from the former owners of the original Invictus business as of September 30, 2021 and December 31, 2020, respectively. Please also read Note 15—Related Parties to our condensed consolidated financial statements.