Consolidated Balance Sheets (In thousands, except share and per share data) December 31, 2000 1999 Assets Current assets: Cash and cash equivalents $ 137,685 $ 58,552 Accounts receivable, less allowance for doubtful accounts of $36,917 and $31,083, respectively 825,803 713,593 Costs and estimated earnings in excess of billings on uncompleted contracts 158,073 142,000 Inventories 6,909 9,776 Prepaid expenses and other 10,290 9,018 Total current assets 1,138,760 932,939 Investments, notes and other long-term receivables 10,364 8,216 Property, plant and equipment, net 38,959 36,509 Goodwill, less accumulated amortization of $8,822 and $4,204, respectively 67,625 68,009 Other assets 6,156 6,573 Total assets $ 1,261,864 $ 1,052,246 Liabilities and Stockholders’ Equity Current liabilities: Current maturities of long-term debt and capital lease obligations $ 751 $ 2,235 Accounts payable 365,139 342,917 Billings in excess of costs and estimated earnings on uncompleted contracts 314,929 216,152 Accrued payroll and benefits 103,897 84,496 Other accrued expenses and liabilities 67,671 67,539 Total current liabilities 852,387 713,339 Long-term debt and capital lease obligations 115,878 116,003 Other long-term obligations 60,096 52,655 Total liabilities 1,028,361 881,997 Stockholders’ equity: Preferred Stock, $0.10 par value, 1,000,000 shares authorized,  zero issued and outstanding – – Common Stock, $0.01 par value, 30,000,000 shares authorized,  10,470,624 and 10,427,690 shares issued and outstanding, respectively 117 117 Capital surplus 167,742 142,894 Accumulated other comprehensive loss (3,906) (2,223) Retained earnings 86,386 46,297 Treasury stock, at cost, 1,131,990 and 1,131,995 shares, respectively (16,836) (16,836) Total stockholders’ equity 233,503 170,249 Total liabilities and stockholders’ equity $ 1,261,864 $ 1,052,246 The accompanying notes to consolidated financial statements are an integral part of these statements. 23 EMCOR, 2000 Annual Report