Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents (including $1,843 and $1,745 from VIEs in 2019 and 2018, respectively) [1] $ 107,736 $ 50,753
Receivables:    
Trade, operating, net of allowance for doubtful accounts of $176 and $261 in 2019 and 2018, respectively (including $6,177 and $5,565 from VIEs in 2019 and 2018, respectively) 31,312 33,306
Trade, dry-leasing 5,864 3,803
Tax receivables (including $2,705 and $3,187 from VIEs in 2019 and 2018, respectively) 2,705 3,187
Other (including $21 and $340 from VIEs in 2019 and 2018, respectively) 11,567 2,343
Inventories, net (including $42 and $40 from VIEs in 2019 and 2018, respectively) 20,826 20,673
Prepaid expenses (including $72 and $10 from VIEs in 2019 and 2018, respectively) 2,851 1,807
Total current assets 182,861 115,872
Property and equipment (including $1,468 and $1,375 from VIEs in 2019 and 2018, respectively) 901,580 917,161
Accumulated depreciation (including $584 and $485 from VIEs in 2019 and 2018, respectively) (334,730) (317,967)
Property and equipment, net 566,850 599,194
Operating lease right-of-use (including $1,812 from VIEs in 2019) 9,907  
Equity investments and advances 0 27,112
Intangible assets 1,094 1,107
Other assets (including $403 and $96 from VIEs in 2019 and 2018, respectively) 6,363 21,578
Total assets 767,075 764,863
Current liabilities:    
Accounts payable and accrued expenses (including $1,433 and $1,522 from VIEs in 2019 and 2018, respectively) 11,940 13,161
Accrued wages and benefits (including $1,654 and $1,429 from VIEs in 2019 and 2018, respectively) 8,960 9,267
Accrued interest 3,321 569
Accrued income taxes 2,945 973
Accrued other taxes (including $270 and $500 from VIEs in 2019 and 2018, respectively) 1,986 1,268
Accrued contingencies (including $548 and $630 from VIEs in 2019 and 2018, respectively) 548 630
Current portion of long-term debt (including $182 and $395 from VIEs in 2019 and 2018, respectively) 1,845 2,058
Other current liabilities (including $378 and $0 from VIEs in 2019 and 2018, respectively) 2,851 878
Total current liabilities 34,396 28,804
Long-term debt 158,731 160,217
Deferred income taxes 105,440 108,357
Operating lease liabilities (including $1,434 from VIEs in 2019) 8,166  
Other liabilities 850 747
Total liabilities 307,583 298,125
Commitments and contingencies
Redeemable noncontrolling interest 2,945 3,302
Equity:    
Common stock, $0.01 par value, 60,000,000 shares authorized; 21,288,619 and 21,765,404 outstanding in 2019 and 2018, respectively, exclusive of treasury shares 224 219
Additional paid-in capital 451,103 447,298
Retained earnings 15,372 18,285
Treasury shares, at cost; 1,149,820 and 156,737 shares in 2019 and 2018, respectively (10,152) (2,476)
Accumulated other comprehensive income, net of tax 0 110
Total equity 456,547 463,436
Total liabilities, redeemable noncontrolling interest and stockholders’ equity $ 767,075 $ 764,863
[1] Refer to footnote 5 for more detail on variable interest entities (“VIE”)