AVALON HOLDINGS CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheets (Unaudited)

(in thousands)










June 30,


December 31,


2021


2020

Assets




Current Assets:




Cash and cash equivalents

$              4,451


$              4,210

Accounts receivable, net

9,038


8,744

Unbilled membership dues receivable

1,102


585

Inventories

1,234


910

Prepaid expenses

766


730

Other current assets

51


80

Total current assets

16,642


15,259





Property and equipment, net

51,856


51,299

Property and equipment under finance leases, net

5,734


5,735

Operating lease right-of-use assets

1,588


1,728

Restricted cash

2,856


3,885

Noncurrent deferred tax asset

8


8

Other assets, net

36


36

Total assets

$             78,720


$             77,950





Liabilities and Equity




Current liabilities:




Current portion of long term debt

$              1,097


$              1,594

Current portion of obligations under finance leases

271


333

Current portion of obligations under operating leases

552


529

Accounts payable

8,581


9,097

Accrued payroll and other compensation

1,324


809

Accrued income taxes

59


43

Other accrued taxes

376


461

Deferred membership dues revenue

5,376


3,196

Other liabilities and accrued expenses

1,118


1,121

Total current liabilities

18,754


17,183





Long term debt, net of current portion

19,946


21,941

Obligations under finance leases, net of current portion

502


560

Obligations under operating leases, net of current portion

1,036


1,199

Asset retirement obligation

100


100





Equity:




Total Avalon Holdings Corporation Shareholders’ Equity

38,554


37,093

Non-controlling interest in subsidiary

(172)


(126)

Total shareholders’ equity

38,382


36,967

Total liabilities and equity

$             78,720


$             77,950





Author

Florio Fonseca is a science and travel editor for Press Daily who writes about travel, archaeology, paleontology, space and other types of interesting research.