Page 32 - 2022 Shareholders Report

FINANCIAL STATEMENTS

Consolidated Financial Statements

Balance Sheet Statement of Income

ASSETS LIABILITIES AND EQUITY % to total
Amount revenues
Current assets Current liabilities
Contract revenue $1,743,133,604 96.04%
Cash and cash equivalents $157,269,888 Accounts payable $338,477,422
Investment securities 7,545,384 Contract liabilities - billings in Design and management fees 71,115,876 3.92
Accounts and notes receivable, net 384,740,038 excess of costs and estimated Other revenue 692,699 0.04
earnings on contracts in process 248,984,293 Total revenues 1,814,942,179 100.00
Contract assets
Accrued liabilities 81,713,136
Costs and estimated earnings in excess Cost of revenues 1,715,898,047 94.54
of billings on contracts in process 31,893,824 Operating lease liabilities - current 5,226,013
Retainages receivable 102,716,038 Total current liabilities 674,400,864
Gross profit 99,044,132 5.46
Inventories 2,880,027
Long-term liabilities
Other current assets 25,824,482 General and administrative expenses (58,881,730) (3.24)
Long-term debt, net 20,000,000
Total current assets 712,869,681 Depreciation and amortization (10,843,450) (0.60)
Operational lease liabilities - long-term 44,814,376
Operating lease right-of-
Property and equipment, net 17,270,140 Other long-term liabilities 16,022,142 use assets amortization (8,514,113) (0.47)
Operating lease right-of-use assets 49,427,115 Total long-term liabilities 80,836,518 Interest income, net 526,608 0.03
66,697,255 Other expense, net (1,387,905) (0.08)
Equity
(79,100,590) (4.35)
Long-term assets Total Haskell stockholders' equity 69,097,639
Long-term accounts and notes receivable 6,398,312 Noncontrolling interests 253,444 Net income before provision
Intangibles, net 3,327,331 Total equity 69,351,083 for income taxes 19,943,542 1.11
Goodwill, net 21,703,233
$824,588,465 Provision for income taxes 5,292,467 0.29
Other assets 13,592,653
Total long-term assets 45,021,529 Net income 14,651,075 0.82

$824,588,465 Net income attributable to
noncontrolling interests 134,964 0.01

Net income attributable to Haskell $14,516,111 0.81
The financial information included on pages 30-32 represents Haskell’s condensed financial statements.
The complete audited financial statements can be found on the MyHaskell intranet under General Accounting/Reporting.

30 Haskell ◆ 2022 Annual Report to Shareholders