Page 32 - Shareholders Report 2023

FINANCIAL STATEMENTS

Consolidated Financial Statements

Balance Sheet Statement of Income

ASSETS 2023 2022 LIABILITIES & EQUITY 2023 2022 2023 2022
Current assets Current liabilities Amount % to Total Amount % to Total
Revenues
Revenues
Cash and cash $291,323,169 $157,269,888 Accounts payable $377,177,421 $338,477,422
equivalents Contract liabilities - Contract revenue $1,781,680,032 95.97% $1,743,133,604 96.04%
Investment securities 12,798,731 7,545,384 billings in excess of Design and 74,162,576 3.99 71,115,876 3.92
costs and estimated 283,883,712 248,984,293 management fees
Accounts and notes earnings on contracts
receivable, net 335,428,130 384,740,038 in process Other revenue 649,587 0.03 692,699 0.04
Contract assets Accrued liabilities 89,529,586 81,713,136 Total revenues 1,856,492,195 99.99 1,814,942,179 100.00
Costs and estimated Operating lease Cost of revenues 1,747,350,714 94.12 1,715,898,047 94.54
earnings in excess liabilities - current 5,205,982 5,226,013
of billings on 30,665,413 31,893,824 Gross profit 109,141,481 5.88 99,044,132 5.46
contracts in process Total current 755,796,701 674,400,864
liabilities General and administrative
Retainages expenses (63,291,537) (3.41) (58,881,730) (3.24)
receivable 94,152,485 102,716,038 Long-term liabilities Depreciation and
Inventories 2,602,550 2,880,027 Long-term debt - 20,000,000 amortization (11,646,303) (0.63) (10,843,450) (0.60)
Other current assets 37,732,929 25,824,482 Operating lease Operating lease right-of-
Total current assets 804,703,407 712,869,681 liabilities - long-term 39,144,045 44,814,376 use assets amortization (8,514,991) (0.46) (8,514,113) (0.47)
Other long-term Interest income, net 6,148,478 0.33 526,608 0.03
Property and 20,012,281 17,270,140 liabilities 19,780,824 16,022,142
equipment, net Foreign currency loss, net (3,351,357) (0.18) (4,965,386) (0.27)
Total long-term
Operating lease 43,405,940 49,427,115 liabilities 58,924,869 80,836,518 Other income, net 605,863 0.03 3,577,481 0.21
right-of use assets (80,049,847) (4.32) (79,100,590) (4.34)
Equity
Long-term assets Net income before
Long-term accounts 10,879,507 6,398,312 Total Haskell 97,121,179 69,097,639 provision for 29,091,634 1.56 19,943,542 1.12
stockholders’ equity
and notes receivable income taxes
Intangibles, net 2,252,028 3,327,331 Noncontrolling 300,226 253,444 Provision for income taxes 1,432,053 0.08 5,292,467 0.29
interests
Goodwill, net 15,944,201 21,703,233
Total equity 97,421,405 69,351,083 Net income 27,659,581 1.48 14,651,075 0.83
Other assets 14,945,611 13,592,653
Total long- 44,021,347 45,021,529 $912,142,975 $824,588,465 Net income attributable to
term assets noncontrolling interests 213,819 0.01 134,964 0.01
$912,142,975 $824,588,465 Net income
attributable to Haskell $27,445,762 1.47% $14,516,111 0.82

The financial information included on pages 30-32 represents Haskell’s condensed financial statements.
30 Haskell ◆ 2023 Annual Report to Shareholders The complete audited financial statements can be found on the myHaskell intranet under General Accounting/Reporting.