0001564590-20-050183 | 10-Q | XBRL Viewer

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	CECE
Entity Registrant Name	CECO ENVIRONMENTAL CORP
Entity Central Index Key	0000003197
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity File Number	0-07099
Entity Tax Identification Number	13-2566064
Entity Address, Address Line One	14651 North Dallas Parkway
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75254
City Area Code	214
Local Phone Number	357-6181
Entity Common Stock, Shares Outstanding		35,504,757
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	false
Document Transition Report	false
Document Quarterly Report	true
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 44,537	$ 35,602
Restricted cash	1,811	1,356
Accounts receivable, net	58,274	68,434
Costs and estimated earnings in excess of billings on uncompleted contracts	41,014	34,805
Inventories, net	18,550	20,578
Prepaid expenses and other current assets	12,773	9,899
Prepaid income taxes	6,664	8,231
Assets held for sale	467	593
Total current assets	184,090	179,498
Property, plant and equipment, net	15,774	15,274
Right-of-use assets from operating leases	12,053	13,607
Goodwill	161,352	152,020
Intangible assets – finite life, net	31,477	31,283
Intangible assets – indefinite life	13,694	14,291
Deferred charges and other assets	3,650	2,664
Total assets	422,090	408,637
Current liabilities:
Current portion of debt	2,812	2,500
Accounts payable and accrued expenses	82,550	78,319
Billings in excess of costs and estimated earnings on uncompleted contracts	24,673	34,369
Total current liabilities	110,035	115,188
Other liabilities	19,720	20,372
Debt, less current portion	73,626	63,001
Deferred income tax liability, net	7,268	5,943
Operating lease liabilities	9,845	11,116
Total liabilities	220,494	215,620
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $.01 par value; 10,000 shares authorized, none issued
Common stock, $.01 par value; 100,000,000 shares authorized, 35,504,757 and 35,275,465 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	355	353
Capital in excess of par value	254,771	253,869
Accumulated loss	(39,921)	(46,344)
Accumulated other comprehensive loss	(14,234)	(14,505)
Stockholders' equity before treasury stock	200,971	193,373
Less treasury stock, at cost, 137,920 shares at September 30, 2020 and December 31, 2019	(356)	(356)
Total CECO shareholders’ equity	200,615	193,017
Noncontrolling interest	981
Total shareholders' equity	201,596	193,017
Total liabilities and shareholders' equity	$ 422,090	$ 408,637

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	35,504,757	35,275,465
Common Stock, shares outstanding	35,504,757	35,275,465
Treasury stock, shares	137,920	137,920

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 77,425	$ 85,266	$ 233,081	$ 252,456
Cost of sales	52,615	56,489	154,176	168,400
Gross profit	24,810	28,777	78,905	84,056
Selling and administrative expenses	18,989	21,823	59,374	65,573
Amortization and earnout expenses	2,050	2,166	5,546	6,480
Restructuring expenses	871	729	1,753	968
Acquisition and integration expenses	368		1,067
Executive transition expenses	1,514		1,514
Loss on divestitures, net of selling costs				70
Income from operations	1,018	4,059	9,651	10,965
Other (expense) income, net	(290)	(73)	1,057	95
Interest expense	(772)	(1,316)	(2,739)	(4,319)
(Loss) income before income taxes	(44)	2,670	7,969	6,741
Income tax expense (benefit)	206	739	1,549	(2,569)
Net (loss) income	(250)	1,931	6,420	9,310
Noncontrolling interest	11		11
Net (loss) income attributable to CECO Environmental Corp.	$ (239)	$ 1,931	$ 6,431	$ 9,310
(Loss) earnings per share:
Basic	$ (0.01)	$ 0.06	$ 0.18	$ 0.27
Diluted	$ (0.01)	$ 0.05	$ 0.18	$ 0.26
Weighted average number of common shares outstanding:
Basic	35,358,913	35,070,449	35,263,688	34,944,056
Diluted	35,358,913	35,624,590	35,471,551	35,522,568

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net (loss) income	$ (250)	$ 1,931	$ 6,420	$ 9,310
Other comprehensive income (loss), net of tax:
Interest rate swap loss				(506)
Foreign currency translation gain (loss)	1,365	(1,169)	271	(935)
Comprehensive income	1,115	762	6,691	7,869
Noncontrolling interest	11		11
Comprehensive income attributable to CECO Environmental Corp.	$ 1,126	$ 762	$ 6,702	$ 7,869

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Capital in Excess of Par Value [Member]	Accumulated Loss [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]
Beginning Balance at Dec. 31, 2018	$ 178,560	$ 349	$ 251,409	$ (59,427)	$ (13,415)	$ (356)
Beginning Balance, Shares at Dec. 31, 2018		34,954				(138)
Net income	1,864			1,864
Cumulative effect adjustment \| ASU 2017-12 and ASU 2016-02 [Member]	(4,590)			(4,602)	12
Restricted stock units issued	(8)		(8)
Restricted stock units issued, Shares		12
Share based compensation earned	798		798
Share based compensation earned, Shares		14
Adjustment for interest rate swap	(213)				(213)
Translation gain (loss)	978				978
Ending Balance at Mar. 31, 2019	177,389	$ 349	252,199	(62,165)	(12,638)	$ (356)
Ending Balance, Shares at Mar. 31, 2019		34,980				(138)
Beginning Balance at Dec. 31, 2018	178,560	$ 349	251,409	(59,427)	(13,415)	$ (356)
Beginning Balance, Shares at Dec. 31, 2018		34,954				(138)
Net income	9,310
Translation gain (loss)	(935)
Ending Balance at Sep. 30, 2019	184,174	$ 353	253,757	(54,736)	(14,844)	$ (356)
Ending Balance, Shares at Sep. 30, 2019		35,244				(138)
Beginning Balance at Mar. 31, 2019	177,389	$ 349	252,199	(62,165)	(12,638)	$ (356)
Beginning Balance, Shares at Mar. 31, 2019		34,980				(138)
Net income	5,515			5,515
Restricted stock units issued	(329)	$ 3	(314)	(18)
Restricted stock units issued, Shares		200
Share based compensation earned	1,031		1,031
Adjustment for interest rate swap	(293)				(293)
Translation gain (loss)	(744)				(744)
Ending Balance at Jun. 30, 2019	182,569	$ 352	252,916	(56,668)	(13,675)	$ (356)
Ending Balance, Shares at Jun. 30, 2019		35,180				(138)
Net income	1,931			1,931
Restricted stock units issued	(101)	$ 1	(103)	1
Restricted stock units issued, Shares		35
Share based compensation earned	944		944
Share based compensation earned, Shares		29
Translation gain (loss)	(1,169)				(1,169)
Ending Balance at Sep. 30, 2019	184,174	$ 353	253,757	(54,736)	(14,844)	$ (356)
Ending Balance, Shares at Sep. 30, 2019		35,244				(138)
Beginning Balance at Dec. 31, 2019	193,017	$ 353	253,869	(46,344)	(14,505)	$ (356)
Beginning Balance, Shares at Dec. 31, 2019		35,275				(138)
Net income	3,412			3,412
Restricted stock units issued	(152)	$ 1	(153)
Restricted stock units issued, Shares		63
Share based compensation earned	597		597
Translation gain (loss)	(2,268)				(2,268)
Ending Balance at Mar. 31, 2020	194,606	$ 354	254,313	(42,932)	(16,773)	$ (356)
Ending Balance, Shares at Mar. 31, 2020		35,338				(138)
Beginning Balance at Dec. 31, 2019	193,017	$ 353	253,869	(46,344)	(14,505)	$ (356)
Beginning Balance, Shares at Dec. 31, 2019		35,275				(138)
Net income	6,420
Translation gain (loss)	271
Ending Balance at Sep. 30, 2020	201,596	$ 355	254,771	(39,921)	(14,234)	$ (356)	$ 981
Ending Balance, Shares at Sep. 30, 2020		35,505				(138)
Beginning Balance at Mar. 31, 2020	194,606	$ 354	254,313	(42,932)	(16,773)	$ (356)
Beginning Balance, Shares at Mar. 31, 2020		35,338				(138)
Net income	3,258			3,258
Restricted stock units issued	(151)	$ 1	(144)	(8)
Restricted stock units issued, Shares		155
Share based compensation earned	154		154
Translation gain (loss)	1,174				1,174
Ending Balance at Jun. 30, 2020	199,041	$ 355	254,323	(39,682)	(15,599)	$ (356)
Ending Balance, Shares at Jun. 30, 2020		35,493				(138)
Net income	(250)			(239)			(11)
Restricted stock units issued	(38)		(38)
Restricted stock units issued, Shares		12
Share based compensation earned	486		486
Translation gain (loss)	1,365				1,365
Non controlling interest	992						992
Ending Balance at Sep. 30, 2020	$ 201,596	$ 355	$ 254,771	$ (39,921)	$ (14,234)	$ (356)	$ 981
Ending Balance, Shares at Sep. 30, 2020		35,505				(138)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ (239)	$ 1,931	$ 6,431	$ 9,310
Adjustment to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	2,576	2,633	7,224	8,153
Unrealized foreign currency loss			302	496
Net gain on interest rate swaps				(248)
Loss on sale of property and equipment			104	58
Loss on divestitures, net of selling costs				70
Debt discount amortization			311	928
Share-based compensation expense			1,237	2,684
Bad debt expense	100	300	625	710
Inventory reserve expense			453	454
Deferred income tax benefit			13	(595)
Changes in operating assets and liabilities, net of acquisitions and divestitures:
Accounts receivable			12,705	(6,090)
Costs and estimated earnings in excess of billings on uncompleted contracts			(5,714)	(5,196)
Inventories			2,568	527
Prepaid expense and other current assets			(1,713)	(3,853)
Deferred charges and other assets			(2,858)	(1,628)
Accounts payable and accrued expenses			443	(4,217)
Billings in excess of costs and estimated earnings on uncompleted contracts			(13,504)	2,879
Income taxes payable			21	(1,679)
Other liabilities			467	(3,396)
Net cash provided by (used in) operating activities			9,115	(633)
Cash flows from investing activities:
Acquisitions of property and equipment			(2,875)	(3,746)
Net cash paid for acquisition			(5,895)
Proceeds from sale of property and equipment			605	509
Net cash used in by investing activities			(8,165)	(3,237)
Cash flows from financing activities:
Borrowings on revolving credit lines			87,000	38,300
Repayments on revolving credit lines			(74,500)	(44,447)
Repayments of long-term debt			(4,384)	(2,325)
Deferred financing fees paid				(1,117)
Payments on finance leases and financing liability			(333)	(368)
Proceeds from employee stock purchase plan and exercise of stock options				76
Net cash provided by (used in) financing activities			7,783	(9,881)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			657	(448)
Net increase (decrease) in cash, cash equivalents and restricted cash			9,390	(14,199)
Cash, cash equivalents and restricted cash at beginning of period			36,958	44,438	$ 44,438
Cash, cash equivalents and restricted cash at end of period	$ 46,348	$ 30,239	46,348	30,239	$ 36,958
Cash paid (received) during the period for:
Interest			2,450	2,651
Income taxes			$ (112)	$ 5,234

Basis of Reporting for Consolidated Financial Statements

9 Months Ended

Sep. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Reporting for Consolidated Financial Statements

1.	Basis of Reporting for Consolidated Financial Statements

The accompanying unaudited condensed consolidated financial statements of CECO Environmental Corp. and its subsidiaries (the “Company”, “we”, “us”, or “our”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. Certain information and footnote disclosures normally included in annual financial statements have been condensed or omitted pursuant to those rules and regulations. In the opinion of management, the accompanying unaudited condensed consolidated financial statements of the Company contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position as of September 30, 2020 and the results of operations, cash flows and shareholders’ equity for the three-month and nine-month periods ended September 30, 2020 and 2019. The results of operations for the three-month and nine-month periods ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year. The balance sheet as of December 31, 2019 has been derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”) as filed with the SEC.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

These financial statements and accompanying notes should be read in conjunction with the audited financial statements and the notes thereto included in the 2019 Form 10-K.

Unless otherwise indicated, all balances within tables are in thousands, except per share amounts.

COVID-19

On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus (“COVID-19”) originating in Wuhan, China and the risks to the international community as the virus spreads globally beyond its point of origin. On March 11, 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. As of September 30, 2020, the virus continues to spread and has had a significant impact on worldwide economic activity and on macroeconomic conditions and the end markets of our business. No vaccine is currently available. The Company has instituted some and may take additional temporary precautionary measures to comply with government directives and guidelines and minimize business disruption.

The outbreak and a continued spread of COVID-19 has resulted in a substantial curtailment of business activities worldwide and has caused weakened economic conditions, both in the United States and abroad. COVID-19 has had, and may continue to have, a negative impact on the Company's ongoing operations and the end markets in which it serves. However, the full impact of the COVID-19 pandemic continues to evolve as of the date of this filing, and as such, it is uncertain as to the full magnitude that the pandemic will have on the Company’s financial condition, liquidity, and future results of operations. Management is actively monitoring the impact of the pandemic on its financial condition, liquidity, operations, suppliers, industry, and workforce.

New Financial Accounting Pronouncements

9 Months Ended

Sep. 30, 2020

Accounting Changes And Error Corrections [Abstract]

New Financial Accounting Pronouncements

2.	New Financial Accounting Pronouncements

Accounting Standards Yet to be Adopted

In August 2018, the FASB issued ASU 2018-14, “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” that makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. The new guidance eliminates requirements for certain disclosures that are no longer considered cost beneficial and requires new ones that the FASB considers pertinent. ASU 2018-14 is effective for the Company January 1, 2021. The Company is evaluating the impact of the adoption of ASU 2018-14 on its consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Accounts Receivable

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Accounts Receivable

3. Accounts Receivable

(table only in thousands)	September 30, 2020			December 31, 2019
Contract receivables	$	49,826		$	58,881
Trade receivables		11,409			12,135
Allowance for doubtful accounts		(2,961	)		(2,582	)
Total accounts receivable	$	58,274		$	68,434

Balances billed but not paid by customers under retainage provisions in contracts within the Condensed Consolidated Balance Sheets amounted to approximately $1.4 million and $0.9 million at September 30, 2020 and December 31, 2019, respectively. Retainage receivables on contracts in progress are generally collected within a year after contract completion.

Bad debt expense was approximately $0.1 million and $0.3 million for the three-month periods ended September 30, 2020 and 2019, respectively, and $0.6 million and $0.7 million for the nine-month periods ended September 30, 2020 and 2019, respectively.

Inventories

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories

4.	Inventories

(table only in thousands)	September 30, 2020			December 31, 2019
Raw materials	$	14,544		$	15,218
Work in process		6,688			7,328
Finished goods		437			654
Obsolescence allowance		(3,119	)		(2,622	)
Total inventories	$	18,550		$	20,578

Amounts credited to the allowance for obsolete inventory and charged to cost of sales amounted to $0.2 million and $0.1 million for the three-month periods ended September 30, 2020 and 2019, respectively and $0.5 million for the nine-month periods ended September 30, 2020 and 2019.

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

5.	Goodwill and Intangible Assets

(table only in thousands)	Nine months ended September 30, 2020					Year ended December 31, 2019
Goodwill / Tradename	Goodwill		Tradename			Goodwill			Tradename
Beginning balance	$	152,020	$	14,291		$	152,156		$	18,258
Transfers to finite life classification		—		(700	)		—			(3,904	)
Acquisitions		9,017		—			—			—
Foreign currency translation		315		103			(136	)		(63	)
	$	161,352	$	13,694		$	152,020		$	14,291

(table only in thousands)	As of September 30, 2020						As of December 31, 2019
Intangible assets – finite life	Cost			Accum. Amort.			Cost			Accum. Amort.
Technology	$	14,457		$	12,425		$	14,457		$	10,686
Customer lists		73,199			47,754			68,943			44,484
Tradename		6,578			1,582			5,294			1,154
Foreign currency adjustments		(2,388	)		(1,392	)		(1,869	)		(782	)
	$	91,846		$	60,369		$	86,825		$	55,542

Activity for the nine-months ended September 30, 2020 and 2019 is as follows:

(table only in thousands)	2020			2019
Intangible assets – finite life, net at beginning of period	$	31,283		$	35,959
Amortization expense		(5,448	)		(6,479	)
Transfers from indefinite life classification		700			3,904
Acquisition		4,840			—
Foreign currency adjustments		102			(132	)
Intangible assets – finite life, net at end of period	$	31,477		$	33,252

Amortization expense of finite life intangible assets was $1.9 million and $2.2 million for the three-month periods ended September 30, 2020 and 2019, respectively and $5.4 million and $6.5 million for the nine-month periods ended September 30, 2020 and 2019, respectively. Amortization over the next five years for finite life intangibles is expected to be $2.0 million for the remainder of 2020, $6.4 million in 2021, $5.5 million in 2022, $4.6 million in 2023, and $3.9 million in 2024.

During the nine-month periods ended September 30, 2020 and 2019, the Company reassessed the useful lives of certain tradenames and determined that $0.7 million and $3.9 million, respectively of their tradenames would have useful lives of 10 years now versus indefinite.

The Company completes an annual (or more often if circumstances require) goodwill and indefinite life intangible asset impairment assessment on October 1. As a part of its impairment assessment, the Company first qualitatively assesses whether current events or changes in circumstances lead to a determination that it is more likely than not (defined as a likelihood of more than 50 percent) that the fair value of a reporting unit or indefinite life intangible asset is less than its carrying amount. If there is a qualitative determination that the fair value is more likely than not greater than carrying value, the Company does not need to quantitatively test for impairment. If this qualitative assessment indicates a more likely than not potential that the asset may be impaired, the estimated fair value is calculated. If the estimated fair value is less than carrying value, an impairment charge is recorded.

In 2019, we performed a quantitative assessment and concluded each of our reporting units and indefinite life intangible assets had excess fair value over their carrying value. We determined negative macroeconomic factors resulting from the COVID-19 pandemic constituted a triggering event as of March 31, 2020 and based on a qualitative assessment determined that our goodwill and indefinite life intangible assets were not impaired. The Company did not identify any triggering events during either of the three month periods ended June 30, 2020 and September 30, 2020 that would require an interim impairment assessment of goodwill or intangible assets. The Company’s assumptions about future conditions important to its assessment of potential impairment of its goodwill and indefinite life intangible assets, including the impacts of the COVID-19 pandemic, are subject to uncertainty, and the Company will continue to monitor these conditions in future periods as new information becomes available, and will update its analyses accordingly.

Accounts Payable and Accrued Expenses

9 Months Ended

Sep. 30, 2020

Payables And Accruals [Abstract]

Accounts Payable and Accrued Expenses

6.	Accounts Payable and Accrued Expenses

(table only in thousands)	September 30, 2020		December 31, 2019
Trade accounts payable, including amounts due to subcontractors	$	54,994	$	48,762
Compensation and related benefits		5,472		5,712
Accrued warranty		4,463		4,664
Contract liabilities		4,937		5,666
Short-term lease liability		2,471		2,610
Other		10,213		10,905
Total accounts payable and accrued expenses	$	82,550	$	78,319

Senior Debt

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Senior Debt

7.	Senior Debt

Debt consisted of the following:

(table only in thousands)	September 30, 2020			December 31, 2019
Outstanding borrowings under the Credit Facility (defined below). Term loan payable in quarterly principal installments of $0.6 million through June 2021, $0.9 million through June 2023, and $1.3 million thereafter with balance due upon maturity in June 2024.
- Term loan	$	46,875		$	48,750
- Revolving Credit Loan		31,000			18,500
- Unamortized debt discount		(1,437	)		(1,749	)
Total outstanding borrowings under the Credit Facility		76,438			65,501

Less: current portion		(2,812	)		(2,500	)
Total debt, less current portion	$	73,626		$	63,001

Scheduled principal payments under our Credit Facility are $0.6 million remaining in 2020, $3.1 million in 2021, $3.7 million in 2022, $4.4 million in 2023, and $66.1 million in 2024.

United States Debt

As of September 30, 2020 and December 31, 2019, $6.9 million and $11.0 million of letters of credit were outstanding, respectively. Total unused credit availability under the Company’s senior secured term loan and senior secured revolver loan with sub-facilities for letters of credit, swing-line loans and senior secured multi-currency loans (collectively, the “Credit Facility”) was $75.8 million and $82.3 million at September 30, 2020 and December 31, 2019, respectively. Revolving loans may be borrowed, repaid and reborrowed until June 11, 2024, at which time all outstanding balances of the Credit Facility must be repaid.

The weighted average stated interest rate on outstanding borrowings was 2.31% and 3.80% at September 30, 2020 and December 31, 2019, respectively.

Under the terms of the Credit Facility, the Company is required to maintain certain financial covenants, including the maintenance of a Consolidated Net Leverage Ratio. Through September 30, 2020, the maximum Consolidated Net Leverage Ratio is 3.75, after which time it will decrease to 3.50 through September 30, 2021. The Consolidated Net Leverage Ratio will then decrease to 3.25 until the end of the term of the Credit Facility.

As of September 30, 2020 and December 31, 2019, the Company was in compliance with all related financial and other restrictive covenants under the Credit Facility.

Foreign Debt

The Company has a number of bank guarantee facilities and bilateral lines in various countries currently supported by cash, letters of credit or pledged assets and collateral under the Credit Facility. The Credit Facility allows letters of credit and bank guarantee issuances of up to $50.0 million from the bilateral lines secured by pledged assets and collateral under the Credit Facility. As of September 30, 2020, $18.0 million in bank guarantees were outstanding. In addition, a subsidiary of the Company located in the Netherlands has a Euro-denominated bank guarantee agreement secured by local assets under which $3.1 million in bank guarantees were outstanding as of September 30, 2020. As of September 30, 2020, the borrowers of these facilities and agreements were in compliance with all related financial and other restrictive covenants.

Earnings per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings per Share

8.	Earnings per Share

The computational components of basic and diluted earnings per share for the three-month periods ended September 30, are below.

	2020			2019
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net (loss) income	$	(239	)	$	1,931

Denominator
Basic weighted-average shares outstanding		35,359			35,070
Common stock equivalents arising from stock options and restricted stock awards		—			555
Diluted weighted-average shares outstanding		35,359			35,625

The computational components of basic and diluted earnings per share for the nine-month periods ended September 30, are below.

	2020		2019
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net income	$	6,431	$	9,310

Denominator
Basic weighted-average shares outstanding		35,264		34,944
Common stock equivalents arising from stock options and restricted stock awards		208		579
Diluted weighted-average shares outstanding		35,472		35,523

Options and restricted stock units included in the computation of diluted earnings per share are calculated using the treasury stock method. For the three-month periods ended September 30, 2020 and 2019, zero and 0.4 million, respectively, and during each of the nine-month periods ended September 30, 2020 and 2019, 0.9 million and 0.5 million, respectively of outstanding options and restricted stock units were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect.

Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share.

Share-Based Compensation

9 Months Ended

Sep. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

9.	Share-Based Compensation

The Company accounts for share-based compensation in accordance with Accounting Standards Codification (“ASC”) Topic 718, “Compensation – Stock Compensation,” which requires the Company to recognize compensation expense for share-based awards, measured at the fair value of the awards at the grant date. The Company recognized $0.5 million and $1.0 million of share-based compensation related expense during the three-month periods ended September 30, 2020 and 2019, respectively, and $1.2 million and $2.8 million during the nine-month periods ended September 30, 2020 and 2019, respectively.

The Company granted approximately 1.2 million options during the three and nine month periods ended September 30, 2020 and zero options during the three and nine-month periods ended September 30, 2019.

The weighted-average fair value of stock options granted during the three and nine months ended September 30, 2020 was estimated at $1.98 per option, using the Black-Scholes option-pricing model based on the following assumptions:

Expected Volatility: The Company utilizes a volatility factor based on the Company’s historical stock prices for a period of time equal to the expected term of the stock option utilizing weekly price observations. For the three and nine months ended September 30, 2020, the Company utilized a weighted-average volatility factor of 52.5%.

Expected Term: For the three and nine months ended September 30, 2020, the Company utilized a weighted-average expected term factor of 5.0 years.

Risk-Free Interest Rate: The risk-free interest rate factor utilized is based upon the implied yields currently available on U.S. Treasury zero-coupon issues over the expected term of the stock options. For the three and nine months ended September 30, 2020, the Company utilized a weighted-average risk-free interest rate factor of 0.3%.

The Company granted approximately 144,000 and zero restricted stock units during the three-month periods ended September 30, 2020 and 2019, respectively, and approximately 648,000 and 464,000 restricted stock units during the nine-month periods ended September 30, 2020 and 2019, respectively. The weighted-average fair value of restricted stock units granted was estimated at $6.35 and $7.49 per unit during the nine-months ended September 30, 2020 and 2019, respectively. The fair value of time-based and 2019 performance-based restricted stock units was determined by using the value of stock in the open market on the date of grant. The fair value of 2020 performance-based restricted stock units was determined by using the Monte Carlo valuation model.

The fair value of the stock-based awards granted is recorded as compensation expense on a straight-line basis over the vesting periods of the awards.

There were zero and approximately 1,000 options exercised during the nine-months ended September 30, 2020 and 2019, respectively. The amount the Company received from employees exercising options and the intrinsic value of options exercised during the nine-months ended September 30, 2020 and 2019 was nominal.

Pension and Employee Benefit Plans

9 Months Ended

Sep. 30, 2020

Compensation And Retirement Disclosure [Abstract]

Pension and Employee Benefit Plans

10.	Pension and Employee Benefit Plans

We sponsor a non-contributory defined benefit pension plan for certain union employees. The plan is funded in accordance with the funding requirements of the Employee Retirement Income Security Act of 1974.

We also sponsor a postretirement health care plan for office employees retired before January 1, 1990. The plan allowed retirees who attained the age of 65 to elect the type of coverage desired.

We present the components of net periodic benefit cost (gain) within “Other income” on the Condensed Consolidated Statements of Operations.

Retirement and health care plan expense is based on valuations performed by plan actuaries as of the beginning of each fiscal year. The components of the expense consisted of the following:

	Three months ended September 30,						Nine months ended September 30,
(table only in thousands)	2020			2019			2020			2019
Pension plan:
Interest cost	$	259		$	326		$	775		$	977
Expected return on plan assets		(443	)		(313	)		(1,151	)		(940	)
Amortization of net actuarial loss		67			65			199			198
Net periodic benefit (gain) cost	$	(117	)	$	78		$	(177	)	$	235
Health care plan:
Interest cost	$	1		$	1		$	2		$	2
Amortization of loss		2			2			6			6
Net periodic benefit cost	$	3		$	3		$	8		$	8

We made contributions to our defined benefit plans of approximately $0.1 million and $0.4 million during the nine-months ended September 30, 2020 and 2019, respectively. For the remainder of 2020, we expect to make contributions totaling $1.8 million. The unfunded liability of the plans of $8.6 million and $8.9 million as of September 30, 2020 and December 31, 2019, respectively, is included in “Other liabilities” on our Condensed Consolidated Balance Sheets.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Income Taxes

9 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

11.	Income Taxes

We file income tax returns in various federal, state and local jurisdictions. Tax years from 2016 forward remain open for examination by federal authorities. Tax years from 2014 forward remain open for all significant state and foreign authorities.

We account for uncertain tax positions pursuant to ASC Topic 740, “Income Taxes.” As of September 30, 2020 and December 31, 2019, the liability for uncertain tax positions totaled approximately $0.1 million and $0.3 million, respectively, which is included in “Other liabilities” on our Condensed Consolidated Balance Sheets. We recognize accrued interest related to

uncertain tax positions and penalties, if any, in income tax expense within the Condensed Consolidated Statements of Operations.

Certain of the Company’s undistributed earnings of our foreign subsidiaries are not permanently reinvested. Since foreign earnings have already been subject to United States income tax in 2017 as a result of the 2017 Tax Cuts and Jobs Act, we intend to repatriate foreign-held cash as needed. We record deferred income tax attributable to foreign withholding taxes that would become payable should we decide to repatriate cash held in our foreign operations. As of September 30, 2020, and December 31, 2019, we have recorded deferred income taxes of approximately $0.5 million and $0.7 million, respectively, on the undistributed earnings of our foreign subsidiaries. A significant portion of the previously undistributed earnings to which the deferred income taxes were attributable were repatriated in 2019.

Income tax expense was $0.2 million for the third quarter of 2020 and $1.5 million for the first nine months of 2020 compared with income tax expense (benefit) of $0.7 million for the third quarter of 2019 and $(2.6) million for the first nine months of 2019. The effective income tax rate for the third quarter of 2020 was (468.2)% compared with 27.7% for the third quarter of 2019. The effective income tax rate for the first nine months of 2020 was 19.4% compared with (38.1%) for the first nine months of 2019. Our effective tax rate is affected by certain other permanent differences, including state income taxes, non-deductible incentive stock-based compensation, the Global Intangible Low-Taxed Income inclusion and Foreign-Derived Intangible Income deduction, tax credits, and differences in tax rates among the jurisdictions in which we operate. The effective income tax rate for the nine months ended September 30, 2019 was negative (i.e. income tax benefits), despite pre-tax income, due primarily to a tax benefit of $4.4 million from a tax position related to the 2018 divesture of Jiangyin Zhongli Industrial Technology Co. Ltd.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Financial Instruments

9 Months Ended

Sep. 30, 2020

Investments All Other Investments [Abstract]

Financial Instruments

12.	Financial Instruments

Our financial instruments consist primarily of investments in cash and cash equivalents, receivables and certain other assets, foreign debt and accounts payable, which approximate fair value at September 30, 2020 and December 31, 2019, due to their short-term nature or variable, market-driven interest rates.

The fair value of the debt issued under the Credit Facility was $77.9 million and $69.4 million at September 30, 2020 and December 31, 2019, respectively.

At September 30, 2020 and December 31, 2019, the Company had cash and cash equivalents of $44.5 million and $35.6 million, respectively, of which $34.1 million and $27.0 million, respectively, was held outside of the United States, principally in the Netherlands, United Kingdom, China, and Canada.

Commitments and Contingencies - Legal Matters

9 Months Ended

Sep. 30, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies - Legal Matters

13.	Commitments and Contingencies – Legal Matters

Asbestos cases

Our subsidiary, Met-Pro Technologies LLC (“Met-Pro”), beginning in 2002, began to be named in asbestos-related lawsuits filed against a large number of industrial companies including, in particular, those in the pump and fluid handling industries. In management’s opinion, the complaints typically have been vague, general and speculative, alleging that Met-Pro, along with the numerous other defendants, sold unidentified asbestos-containing products and engaged in other related actions which caused injuries (including death) and loss to the plaintiffs. Counsel has advised that more recent cases typically allege more serious claims of mesothelioma. The Company’s insurers have hired attorneys who, together with the Company, are vigorously defending these cases. Many cases have been dismissed after the plaintiff fails to produce evidence of exposure to Met-Pro’s products. In those cases, where evidence has been produced, the Company’s experience has been that the exposure levels are low and the Company’s position has been that its products were not a cause of death, injury or loss. The Company has been dismissed from or settled a large number of these cases. Cumulative settlement payments from 2002 through September 30, 2020 for cases involving asbestos-related claims were $3.1 million, of which, together with all legal fees other than corporate counsel expenses, $2.9 million has been paid by the Company’s insurers. The average cost per settled claim, excluding legal fees, was approximately $34,000.

Based upon the most recent information available to the Company regarding such claims, there were a total of 201 cases pending against the Company as of September 30, 2020 (with Illinois, New York, Pennsylvania and West Virginia having the largest number of cases), as compared with 209 cases that were pending as of December 31, 2019. During the nine-months ended September 30, 2020, 61 new cases were filed against the Company, and the Company was dismissed from 65 cases and settled four cases. Most of the pending cases have not advanced beyond the early stages of discovery, although a number of cases are on schedules leading to or scheduled for trial. The Company believes that its insurance coverage is adequate for the cases currently pending against the Company and for the foreseeable future, assuming a continuation of the current volume, nature of cases and settlement amounts. However, the Company has no control over the number and nature of cases that are

filed against it, nor as to the financial health of its insurers or their position as to coverage. The Company also presently believes that none of the pending cases will have a material adverse impact upon the Company’s results of operations, liquidity or financial condition.

Other

The Company is also a party to routine contract and employment-related litigation matters, warranty claims and routine audits of state and local tax returns arising in the ordinary course of its business.

The final outcome and impact of open matters, and related claims and investigations that may be brought in the future, are subject to many variables, and cannot be predicted. In accordance with ASC 450, “Contingencies”, and related guidance, we record accruals for estimated losses relating to claims and lawsuits when available information indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated. The Company expenses legal costs as they are incurred.

We are not aware of any pending claims or assessments, other than as described above, which may have a material adverse impact on our liquidity, financial position, results of operations, or cash flows.

Acquisition

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Acquisition

14. Acquisitions and Joint Ventures

Environmental Integrated Solutions

On June 4, 2020, the Company acquired 100% of the equity interests of Environmental Integrated Solutions (“EIS”) for $10.3 million in cash, which was financed with an additional draw on our revolving credit facility. As additional consideration, the former owners are entitled to earn-out payments based upon a multiple of specified financial results through December 31, 2021. Based on projections at the acquisition date, the Company estimated the fair value of the earn-out to be $0.6 million; the earn-out liability is recorded in “Accounts payable and accrued expenses” on the Condensed Consolidated Balance Sheets.

EIS engineers products that clean air through a variety of technologies including volatile organic compounds (“VOC”) abatement, odor control, regenerative thermal oxidizers, and other air pollution control solutions, which complements our Industrial Solutions Segment businesses. The following table summarizes the approximate fair values of the assets acquired and liabilities assumed at the date of closing.

(table only in thousands)
Current assets (including cash of $4,212)	$	6,416
Property and equipment		26
Other assets		44
Goodwill		7,022
Intangible - finite life		4,840
Total assets acquired		18,348
Current liabilities assumed		(6,514	)
Deferred income tax liability		(920	)
Net assets acquired	$	10,914

Goodwill recognized represents value the Company expects to be created by combining the various operations of the acquired businesses with the Company’s operations, including the expansion into markets within existing business segments, access to new customers and potential cost savings and synergies. Goodwill related to this acquisition is not deductible for tax purposes.

The Company acquired customer lists and tradename intangible assets valued at $4.2 million and $0.6 million, respectively. These assets were determined to have useful lives of 10 years.

Acquisition and integration expenses on the Condensed Consolidated Statements of Operations are related to acquisition activities, which include retention, legal, accounting, banking, and other expenses. For the three and nine months ended September 30, 2020, EIS accounted for $5.3 and $5.8 million in revenue, respectively and $0.4 million and $0.6 million of net income included in the Company’s results, respectively.

Mader

On July 31, 2020, the Company entered into a joint venture agreement (“JV Agreement”) with Mader Holdings L.P. (“Mader”) in which CECO contributed the net assets of its Effox-Flextor damper business and Mader contributed the net assets of their damper business. Under the terms of the JV Agreement, CECO will hold 70% of the equity in the joint venture, and 50% voting interest. We determined CECO was the primary beneficiary of this variable interest entity and therefore the 30% noncontrolling equity interest is in the Condensed Consolidated Balance Sheet. The results of the joint venture are included in our Energy Segment. The fair value of Mader’s net assets contributed was $1.0 million. As of September 30, 2020, there were $6.2 million in current assets, $8.7 million in long-lived assets, and $7.3 million in total liabilities related to the Effox-Mader joint venture included in our Condensed Consolidated Balance Sheets.

The following table summarizes the approximate fair values of the assets acquired and liabilities assumed at the JV agreement date.

(table only in thousands)
Current assets (including cash of $229)	$	2,040
Property and equipment		103
Goodwill		2,000
Deferred income tax asset		287
Total assets assumed		4,430
Current liabilities assumed		(430	)
Other liabilities		(500	)
Long term debt		(2,508	)
Fair value of 30% noncontrolling equity interest in Mader	$	992

The approximate fair values of the assets acquired and liabilities assumed related to the above acquisition and joint venture are based on preliminary estimates and assumptions. These preliminary estimates and assumptions could change significantly during the purchase price measurement period as we finalize the valuations of the assets acquired and liabilities assumed. Such changes could result in material variances between the Company’s future financial results, including variances in the estimated purchase price, fair values recorded and expenses associated with these items.

The following unaudited pro forma financial information represents the Company’s results of operations as if the EIS acquisition and the joint venture with Mader had occurred on January 1, 2019:

	Three months ended September 30,					Nine months ended September 30,
(table in thousands, except per share data)	2020			2019		2020		2019
Net Sales	$	77,943		$	91,099	$	246,550	$	269,982
Net (loss) income attributable to CECO Environmental Corp.		(222	)		2,468		7,975		10,788
(Loss) earnings per share:
Basic	$	(0.01	)	$	0.07	$	0.23	$	0.31
Diluted	$	(0.01	)	$	0.07	$	0.22	$	0.30

The pro forma results have been prepared for informational purposes only and include adjustments to amortize acquired intangible assets with finite life, reflect additional interest expense on debt used to fund the acquisition, and to record the income tax consequences of the pro forma adjustments. These pro forma results do not purport to be indicative of the results of operations that would have occurred had the purchase been made as of the beginning of the periods presented or of the results of operations that may occur in the future.

Business Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Business Segment Information

15.	Business Segment Information

The Company’s operations are organized and reviewed by management along its product lines or end market that the segment serves and are presented in three reportable segments. The results of the segments are reviewed through the “Income from operations” line on the Condensed Consolidated Statements of Operations.

The Company’s reportable segments are organized as groups of similar products and services, as described as follows:

Energy Solutions segment: Our Energy Solutions segment serves the Energy market, where we are a key part of helping meet the global demand for Clean Energy through our highly engineered and tailored emissions management, silencers and separation solutions and services. Our offerings improve air quality and solves fluid handling needs with market leading technologies, efficiently designed, and customized solutions for the power generation, oil & gas, and petrochemical industries.

Industrial Solutions segment: Our Industrial Solutions segment serves the Air Pollution Control market where our aim is to address the growing need to protect the air we breathe and help our customers’ desires for sustainability upgrades beyond carbon footprint issues. Our clean air pollution control, collection and ventilation technologies improve air quality with a compelling solution that enable our customers to reduce their carbon footprint, lower energy consumption, minimize waste and meet compliance targets for toxic emissions, fumes, volatile organic compounds, and industrial odors.

Fluid Handling Solutions segment: Our Fluid Handling Solutions segment offers unique pump and filtration solutions that maintain safe and clean operations in some of the most harsh and toxic environments. In this market, we provide solutions for mission-critical applications to a wide variety of industries including, but not limited to, plating and metal finishing, automotive, food and beverage, chemical, petrochemical, pharmaceutical, wastewater treatment, desalination and the aquarium & aquaculture markets.

The financial segment information is presented in the following tables:

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2020		2019		2020		2019
Net Sales (less intra-, inter-segment sales)
Energy Solutions Segment	$	49,709	$	48,847	$	149,429	$	154,606
Industrial Solutions Segment		18,716		26,983		55,736		65,920
Fluid Handling Solutions Segment		9,000		9,436		27,916		31,930
Net sales	$	77,425	$	85,266	$	233,081	$	252,456

	Three months ended September 30,						Nine months ended September 30,
(dollars in thousands)	2020			2019			2020			2019
Income from Operations
Energy Solutions Segment	$	7,276		$	7,633		$	24,479		$	23,275
Industrial Solutions Segment		101			2,794			1,593			3,911
Fluid Handling Solutions Segment		1,438			818			4,878			4,657
Corporate and Other⁽¹⁾		(7,797	)		(7,186	)		(21,299	)		(20,878	)
Income from operations	$	1,018		$	4,059		$	9,651		$	10,965

⁽¹⁾	Includes corporate compensation, professional services, information technology, and other general and administrative corporate expenses.

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2020		2019		2020		2019
Property and Equipment Additions
Energy Solutions Segment	$	148	$	57	$	446	$	218
Industrial Solutions Segment		—		59		215		222
Fluid Handling Solutions Segment		132		2,135		686		2,624
Corporate and Other		603		293		1,528		682
Property and equipment additions	$	883	$	2,544	$	2,875	$	3,746

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2020		2019		2020		2019
Depreciation and Amortization
Energy Solutions Segment	$	1,245	$	1,544	$	3,690	$	4,684
Industrial Solutions Segment		475		327		1,123		998
Fluid Handling Solutions Segment		679		668		1,942		2,140
Corporate and Other		177		94		469		331
Depreciation and amortization	$	2,576	$	2,633	$	7,224	$	8,153

(dollars in thousands)	September 30, 2020		December 31, 2019
Identifiable Assets
Energy Solutions Segment	$	265,858	$	254,752
Industrial Solutions Segment		72,931		64,725
Fluid Handling Solutions Segment		67,118		71,572
Corporate and Other⁽²⁾		16,183		17,588
Identifiable assets	$	422,090	$	408,637

⁽²⁾	Corporate and Other assets consist primarily of cash and income tax related assets.

(dollars in thousands)	September 30, 2020		December 31, 2019
Goodwill
Energy Solutions Segment	$	99,317	$	97,007
Industrial Solutions Segment		30,458		23,436
Fluid Handling Solutions Segment		31,577		31,577
Goodwill	$	161,352	$	152,020

Intra-segment and Inter-segment Revenues

The Company has multiple divisions that sell to each other within segments (intra-segment sales) and between segments (inter-segment sales) as indicated in the following tables:

	Three months ended September 30, 2020
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	51,203	$	(1,071	)	$	(217	)	$	—		$	(206	)	$	49,709
Industrial Solutions Segment		21,741		(2,914	)		—			(111	)		—			18,716
Fluid Handling Solutions Segment		9,203		(185	)		(18	)		—			—			9,000
Net Sales	$	82,147	$	(4,170	)	$	(235	)	$	(111	)	$	(206	)	$	77,425

	Three months ended September 30, 2019
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid		Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	51,083	$	(2,134	)	$	(102	)	$	—		$	—	$	48,847
Industrial Solutions Segment		29,269		(2,227	)		—			(59	)		—		26,983
Fluid Handling Solutions Segment		9,823		(362	)		(25	)		—			—		9,436
Net Sales	$	90,175	$	(4,723	)	$	(127	)	$	(59	)	$	—	$	85,266

	Nine months ended September 30, 2020
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	159,181	$	(8,861	)	$	(446	)	$	—		$	(445	)	$	149,429
Industrial Solutions Segment		66,691		(10,038	)		—			(902	)		(15	)		55,736
Fluid Handling Solutions Segment		28,581		(633	)		(32	)		—			—			27,916
Net Sales	$	254,453	$	(19,532	)	$	(478	)	$	(902	)	$	(460	)	$	233,081

	Nine months ended September 30, 2019
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	158,888	$	(3,998	)	$	(272	)	$	—		$	(12	)	$	154,606
Industrial Solutions Segment		73,794		(6,204	)		—			(1,617	)		(53	)		65,920
Fluid Handling Solutions Segment		33,189		(1,096	)		(163	)		—			—			31,930
Net Sales	$	265,871	$	(11,298	)	$	(435	)	$	(1,617	)	$	(65	)	$	252,456

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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+ Details

New Financial Accounting Pronouncements (Policies)

9 Months Ended

Sep. 30, 2020

Accounting Changes And Error Corrections [Abstract]

Accounting Standards Yet to be Adopted

Accounts Receivable (Tables)

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Summary of Accounts Receivable

(table only in thousands)	September 30, 2020			December 31, 2019
Contract receivables	$	49,826		$	58,881
Trade receivables		11,409			12,135
Allowance for doubtful accounts		(2,961	)		(2,582	)
Total accounts receivable	$	58,274		$	68,434

Inventories (Tables)

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Summary of Inventories

(table only in thousands)	September 30, 2020			December 31, 2019
Raw materials	$	14,544		$	15,218
Work in process		6,688			7,328
Finished goods		437			654
Obsolescence allowance		(3,119	)		(2,622	)
Total inventories	$	18,550		$	20,578

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill / Tradename

(table only in thousands)	Nine months ended September 30, 2020					Year ended December 31, 2019
Goodwill / Tradename	Goodwill		Tradename			Goodwill			Tradename
Beginning balance	$	152,020	$	14,291		$	152,156		$	18,258
Transfers to finite life classification		—		(700	)		—			(3,904	)
Acquisitions		9,017		—			—			—
Foreign currency translation		315		103			(136	)		(63	)
	$	161,352	$	13,694		$	152,020		$	14,291

Intangible Assets - Finite Life

(table only in thousands)	As of September 30, 2020						As of December 31, 2019
Intangible assets – finite life	Cost			Accum. Amort.			Cost			Accum. Amort.
Technology	$	14,457		$	12,425		$	14,457		$	10,686
Customer lists		73,199			47,754			68,943			44,484
Tradename		6,578			1,582			5,294			1,154
Foreign currency adjustments		(2,388	)		(1,392	)		(1,869	)		(782	)
	$	91,846		$	60,369		$	86,825		$	55,542

Summary of Finite Lived Intangible Assets Activities

Activity for the nine-months ended September 30, 2020 and 2019 is as follows:

(table only in thousands)	2020			2019
Intangible assets – finite life, net at beginning of period	$	31,283		$	35,959
Amortization expense		(5,448	)		(6,479	)
Transfers from indefinite life classification		700			3,904
Acquisition		4,840			—
Foreign currency adjustments		102			(132	)
Intangible assets – finite life, net at end of period	$	31,477		$	33,252

Accounts Payable and Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2020

Payables And Accruals [Abstract]

Summary of Accounts Payable and Accrued Expenses

(table only in thousands)	September 30, 2020		December 31, 2019
Trade accounts payable, including amounts due to subcontractors	$	54,994	$	48,762
Compensation and related benefits		5,472		5,712
Accrued warranty		4,463		4,664
Contract liabilities		4,937		5,666
Short-term lease liability		2,471		2,610
Other		10,213		10,905
Total accounts payable and accrued expenses	$	82,550	$	78,319

Senior Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Summary of Debt

Debt consisted of the following:

(table only in thousands)	September 30, 2020			December 31, 2019
Outstanding borrowings under the Credit Facility (defined below). Term loan payable in quarterly principal installments of $0.6 million through June 2021, $0.9 million through June 2023, and $1.3 million thereafter with balance due upon maturity in June 2024.
- Term loan	$	46,875		$	48,750
- Revolving Credit Loan		31,000			18,500
- Unamortized debt discount		(1,437	)		(1,749	)
Total outstanding borrowings under the Credit Facility		76,438			65,501

Less: current portion		(2,812	)		(2,500	)
Total debt, less current portion	$	73,626		$	63,001

Earnings and Dividends per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Number of Shares Outstanding for Calculation of Earnings Per Share

The computational components of basic and diluted earnings per share for the three-month periods ended September 30, are below.

	2020			2019
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net (loss) income	$	(239	)	$	1,931

Denominator
Basic weighted-average shares outstanding		35,359			35,070
Common stock equivalents arising from stock options and restricted stock awards		—			555
Diluted weighted-average shares outstanding		35,359			35,625

The computational components of basic and diluted earnings per share for the nine-month periods ended September 30, are below.

	2020		2019
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net income	$	6,431	$	9,310

Denominator
Basic weighted-average shares outstanding		35,264		34,944
Common stock equivalents arising from stock options and restricted stock awards		208		579
Diluted weighted-average shares outstanding		35,472		35,523

Pension and Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2020

Compensation And Retirement Disclosure [Abstract]

Components of Pension and Employee Benefit Expenses

The components of the expense consisted of the following:

	Three months ended September 30,						Nine months ended September 30,
(table only in thousands)	2020			2019			2020			2019
Pension plan:
Interest cost	$	259		$	326		$	775		$	977
Expected return on plan assets		(443	)		(313	)		(1,151	)		(940	)
Amortization of net actuarial loss		67			65			199			198
Net periodic benefit (gain) cost	$	(117	)	$	78		$	(177	)	$	235
Health care plan:
Interest cost	$	1		$	1		$	2		$	2
Amortization of loss		2			2			6			6
Net periodic benefit cost	$	3		$	3		$	8		$	8

Acquisition (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information represents the Company’s results of operations as if the EIS acquisition and the joint venture with Mader had occurred on January 1, 2019:

	Three months ended September 30,					Nine months ended September 30,
(table in thousands, except per share data)	2020			2019		2020		2019
Net Sales	$	77,943		$	91,099	$	246,550	$	269,982
Net (loss) income attributable to CECO Environmental Corp.		(222	)		2,468		7,975		10,788
(Loss) earnings per share:
Basic	$	(0.01	)	$	0.07	$	0.23	$	0.31
Diluted	$	(0.01	)	$	0.07	$	0.22	$	0.30

Environmental Integrated Solutions [Member]

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the approximate fair values of the assets acquired and liabilities assumed at the date of closing.

(table only in thousands)
Current assets (including cash of $4,212)	$	6,416
Property and equipment		26
Other assets		44
Goodwill		7,022
Intangible - finite life		4,840
Total assets acquired		18,348
Current liabilities assumed		(6,514	)
Deferred income tax liability		(920	)
Net assets acquired	$	10,914

Mader Holdings L.P. | Joint Venture Agreement

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the approximate fair values of the assets acquired and liabilities assumed at the JV agreement date.

(table only in thousands)
Current assets (including cash of $229)	$	2,040
Property and equipment		103
Goodwill		2,000
Deferred income tax asset		287
Total assets assumed		4,430
Current liabilities assumed		(430	)
Other liabilities		(500	)
Long term debt		(2,508	)
Fair value of 30% noncontrolling equity interest in Mader	$	992

Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Net Sales and Income from Operation by Business Segment

The financial segment information is presented in the following tables:

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2020		2019		2020		2019
Net Sales (less intra-, inter-segment sales)
Energy Solutions Segment	$	49,709	$	48,847	$	149,429	$	154,606
Industrial Solutions Segment		18,716		26,983		55,736		65,920
Fluid Handling Solutions Segment		9,000		9,436		27,916		31,930
Net sales	$	77,425	$	85,266	$	233,081	$	252,456

	Three months ended September 30,						Nine months ended September 30,
(dollars in thousands)	2020			2019			2020			2019
Income from Operations
Energy Solutions Segment	$	7,276		$	7,633		$	24,479		$	23,275
Industrial Solutions Segment		101			2,794			1,593			3,911
Fluid Handling Solutions Segment		1,438			818			4,878			4,657
Corporate and Other⁽¹⁾		(7,797	)		(7,186	)		(21,299	)		(20,878	)
Income from operations	$	1,018		$	4,059		$	9,651		$	10,965

⁽¹⁾	Includes corporate compensation, professional services, information technology, and other general and administrative corporate expenses.

Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2020		2019		2020		2019
Property and Equipment Additions
Energy Solutions Segment	$	148	$	57	$	446	$	218
Industrial Solutions Segment		—		59		215		222
Fluid Handling Solutions Segment		132		2,135		686		2,624
Corporate and Other		603		293		1,528		682
Property and equipment additions	$	883	$	2,544	$	2,875	$	3,746

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2020		2019		2020		2019
Depreciation and Amortization
Energy Solutions Segment	$	1,245	$	1,544	$	3,690	$	4,684
Industrial Solutions Segment		475		327		1,123		998
Fluid Handling Solutions Segment		679		668		1,942		2,140
Corporate and Other		177		94		469		331
Depreciation and amortization	$	2,576	$	2,633	$	7,224	$	8,153

(dollars in thousands)	September 30, 2020		December 31, 2019
Identifiable Assets
Energy Solutions Segment	$	265,858	$	254,752
Industrial Solutions Segment		72,931		64,725
Fluid Handling Solutions Segment		67,118		71,572
Corporate and Other⁽²⁾		16,183		17,588
Identifiable assets	$	422,090	$	408,637

⁽²⁾	Corporate and Other assets consist primarily of cash and income tax related assets.

Goodwill

(dollars in thousands)	September 30, 2020		December 31, 2019
Goodwill
Energy Solutions Segment	$	99,317	$	97,007
Industrial Solutions Segment		30,458		23,436
Fluid Handling Solutions Segment		31,577		31,577
Goodwill	$	161,352	$	152,020

Intra-Segment and Inter-Segment Revenues

The Company has multiple divisions that sell to each other within segments (intra-segment sales) and between segments (inter-segment sales) as indicated in the following tables:

	Three months ended September 30, 2020
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	51,203	$	(1,071	)	$	(217	)	$	—		$	(206	)	$	49,709
Industrial Solutions Segment		21,741		(2,914	)		—			(111	)		—			18,716
Fluid Handling Solutions Segment		9,203		(185	)		(18	)		—			—			9,000
Net Sales	$	82,147	$	(4,170	)	$	(235	)	$	(111	)	$	(206	)	$	77,425

	Three months ended September 30, 2019
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid		Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	51,083	$	(2,134	)	$	(102	)	$	—		$	—	$	48,847
Industrial Solutions Segment		29,269		(2,227	)		—			(59	)		—		26,983
Fluid Handling Solutions Segment		9,823		(362	)		(25	)		—			—		9,436
Net Sales	$	90,175	$	(4,723	)	$	(127	)	$	(59	)	$	—	$	85,266

	Nine months ended September 30, 2020
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	159,181	$	(8,861	)	$	(446	)	$	—		$	(445	)	$	149,429
Industrial Solutions Segment		66,691		(10,038	)		—			(902	)		(15	)		55,736
Fluid Handling Solutions Segment		28,581		(633	)		(32	)		—			—			27,916
Net Sales	$	254,453	$	(19,532	)	$	(478	)	$	(902	)	$	(460	)	$	233,081

	Nine months ended September 30, 2019
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	158,888	$	(3,998	)	$	(272	)	$	—		$	(12	)	$	154,606
Industrial Solutions Segment		73,794		(6,204	)		—			(1,617	)		(53	)		65,920
Fluid Handling Solutions Segment		33,189		(1,096	)		(163	)		—			—			31,930
Net Sales	$	265,871	$	(11,298	)	$	(435	)	$	(1,617	)	$	(65	)	$	252,456

Accounts Receivable - Summary of Accounts Receivable (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract receivables	$ 49,826	$ 58,881
Allowance for doubtful accounts	(2,961)	(2,582)
Total accounts receivable	58,274	68,434
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	$ 11,409	$ 12,135

Accounts Receivable - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Receivables [Abstract]
Amount billed but not received under retainage provisions in contracts	$ 1,400		$ 1,400		$ 900
Retainage receivables on contracts period			1 year
Bad debt expense	$ 100	$ 300	$ 625	$ 710

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventory Net [Abstract]
Raw materials	$ 14,544	$ 15,218
Work in process	6,688	7,328
Finished goods	437	654
Obsolescence allowance	(3,119)	(2,622)
Total inventories	$ 18,550	$ 20,578

Inventories - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Inventory Disclosure [Abstract]
Amounts credited to the allowance for obsolete inventory	$ 0.2	$ 0.1	$ 0.5	$ 0.5

Goodwill and Intangible Assets - Goodwill / Tradename (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill, beginning balance	$ 152,020	$ 152,156
Acquisitions	9,017
Goodwill, foreign currency translation	315	(136)
Goodwill, ending balance	161,352	152,020
Tradename, beginning balance	14,291	18,258
Tradename, transfers to finite life classification	(700)	(3,904)
Tradename, foreign currency translation	103	(63)
Tradename, ending balance	$ 13,694	$ 14,291

Goodwill and Intangible Assets - Intangible Assets - Finite Life (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Cost	$ 91,846	$ 86,825
Accumulated Amortization	60,369	55,542
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	14,457	14,457
Accumulated Amortization	12,425	10,686
Customer Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	73,199	68,943
Accumulated Amortization	47,754	44,484
Tradename [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	6,578	5,294
Accumulated Amortization	1,582	1,154
Foreign Currency Adjustments [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	(2,388)	(1,869)
Accumulated Amortization	$ (1,392)	$ (782)

Goodwill and Intangible Assets - Finite Lived Intangible Assets Amortization Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible assets – finite life, net at beginning of period			$ 31,283	$ 35,959
Amortization expense	$ (1,900)	$ (2,200)	(5,448)	(6,479)
Transfers from indefinite life classification			700	3,904
Acquisition			4,840
Foreign currency adjustments			102	(132)
Intangible assets – finite life, net at end of period	$ 31,477	$ 33,252	$ 31,477	$ 33,252

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Amortization expense of finite life intangible assets	$ 1,900	$ 2,200	$ 5,448	$ 6,479
Amortization expense of finite life intangibles for 2020	2,000		2,000
Amortization expense of finite life intangibles for 2021	6,400		6,400
Amortization expense of finite life intangibles for 2022	5,500		5,500
Amortization expense of finite life intangibles for 2023	4,600		4,600
Amortization expense of finite life intangibles for 2024	3,900		3,900
Certain Tradenames [Member]
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Finite-lived intangible asset, fair value	$ 700	$ 3,900	$ 700	$ 3,900
Intangible assets, Useful Life			10 years	10 years

Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Trade accounts payable, including amounts due to subcontractors	$ 54,994	$ 48,762
Compensation and related benefits	5,472	5,712
Accrued warranty	4,463	4,664
Contract liabilities	4,937	5,666
Short-term lease liability	2,471	2,610
Other	10,213	10,905
Total accounts payable and accrued expenses	$ 82,550	$ 78,319

Senior Debt - Summary of Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total outstanding borrowings under the Credit Facility	$ 76,438	$ 65,501
Less: current portion	(2,812)	(2,500)
Debt, less current portion	73,626	63,001
Term Loan [Member]
Debt Instrument [Line Items]
Total outstanding borrowings under the Credit Facility	46,875	48,750
Revolving Credit Loan [Member]
Debt Instrument [Line Items]
Revolving Credit Loan	31,000	18,500
Term Debt [Member]
Debt Instrument [Line Items]
Unamortized debt discount	$ (1,437)	$ (1,749)

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Senior Debt - Summary of Debt (Parenthetical) (Detail) - Term Loan [Member] $ in Millions	9 Months Ended
	Sep. 30, 2020 USD ($)
Debt Instrument [Line Items]
Frequency of periodic payment	quarterly
Term loans, year of maturity	Jun. 30, 2024
Debt Instrument, Redemption, Through June 2021 [Member]
Debt Instrument [Line Items]
Outstanding borrowings, quarterly principal installments payable amount	$ 0.6
Debt Instrument, Redemption, Through June 2023 [Member]
Debt Instrument [Line Items]
Outstanding borrowings, quarterly principal installments payable amount	0.9
Debt Instrument, Redemption, Thereafter [Member]
Debt Instrument [Line Items]
Outstanding borrowings, quarterly principal installments payable amount	$ 1.3

Senior Debt - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2019
Line Of Credit Facility [Line Items]
Credit facility principal payments 2020			$ 0.6
Credit facility principal payments 2021			3.1
Credit facility principal payments 2022			3.7
Credit facility principal payments 2023			4.4
Credit facility principal payments 2024			$ 66.1
Weighted average interest rate on outstanding borrowings			2.31%	3.80%
Maximum consolidated leverage ratio			3.75%
Scenario Forecast [Member]
Line Of Credit Facility [Line Items]
Maximum consolidated leverage ratio	3.25%	3.50%
Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Unused credit availability under credit facility			$ 75.8	$ 82.3
Letters of Credit [Member]
Line Of Credit Facility [Line Items]
Aggregate principal amount outstanding under the credit facilities			6.9	$ 11.0
Bank Guarantees [Member]
Line Of Credit Facility [Line Items]
Bank guarantee issuance under bilateral lines and collateral			50.0
Bank guarantee agreement outstanding amount			18.0
Netherlands Facility [Member] \| Euro-Denominated Bank Guarantee [Member]
Line Of Credit Facility [Line Items]
Bank guarantee agreement outstanding amount			$ 3.1

Earnings per Share - Number of Shares Outstanding for Calculation of Earnings Per Share (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator (for basic and diluted earnings (loss) per share)
Net (loss) income	$ (239)	$ 1,931	$ 6,431	$ 9,310
Denominator
Basic weighted-average shares outstanding	35,358,913	35,070,449	35,263,688	34,944,056
Common stock equivalents arising from stock options and restricted stock awards		555,000	208,000	579,000
Diluted weighted-average shares outstanding	35,358,913	35,624,590	35,471,551	35,522,568

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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-Name Accounting Standards Codification
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+ Details

Earnings per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings And Dividends Per Share [Abstract]
Anti-dilutive options and restricted stock units outstanding	0.0	0.4	0.5	0.5

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation awards	$ 0.5	$ 1.0	$ 1.2	$ 2.8
Share-based compensation arrangement options, grants	1,200,000	0	1,200,000	0
Estimated weighted average fair value of stock option granted	$ 1.98		$ 1.98
Expected volatility rate	52.50%		52.50%
Expected term period	5 years		5 years
Risk free interest rate	0.30%		0.30%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercised, Number of Shares			0	1,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock awards granted	144,000	0	648,000	464,000
Weighted-average fair value of restricted stock unit granted			$ 6.35	$ 7.49

Pension and Employee Benefit Plans - Components of Pension and Employee Benefit Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 259	$ 326	$ 775	$ 977
Expected return on plan assets	(443)	(313)	(1,151)	(940)
Amortization of net actuarial loss	67	65	199	198
Net periodic benefit (gain) cost	(117)	78	(177)	235
Health Care Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	1	1	2	2
Amortization of loss	2	2	6	6
Net periodic benefit (gain) cost	$ 3	$ 3	$ 8	$ 8

Pension and Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Defined benefit plan contributions	$ 1.8	$ 0.1	$ 0.4
Unfunded liability plans		$ 8.6		$ 8.9

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Income Taxes [Line Items]
Liability for uncertain tax positions	$ 100		$ 100		$ 300
Deferred income taxes on undistributed earnings			13	$ (595)
Income tax expense (benefit)	$ 206	$ 739	$ 1,549	$ (2,569)
Effective income tax rate	(468.20%)	27.70%	19.40%	(38.10%)
Zhongli [Member]
Income Taxes [Line Items]
Income tax expense (benefit)		$ (4,400)		$ (4,400)
Foreign Subsidiaries [Member]
Income Taxes [Line Items]
Deferred income taxes on undistributed earnings			$ (500)		$ (700)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Fair Value Of Financial Instruments [Line Items]
Cash and cash equivalents	$ 44,537	$ 35,602
Cash held outside United States, principally in Netherlands, United Kingdom, China, and Canada	34,100	27,000
Credit Facility [Member]
Fair Value Of Financial Instruments [Line Items]
Fair value of debt issued	$ 77,900	$ 69,400

Commitments and Contingencies - Legal Matters - Additional Information (Detail)	9 Months Ended	225 Months Ended
	Sep. 30, 2020 USD ($) Case	Sep. 30, 2020 USD ($) Case	Dec. 31, 2019 Case
Commitments And Contingencies Disclosure [Abstract]
Cumulative settlement payments for cases involving asbestos-related claims \| $		$ 3,100,000
Cumulative settlement payments made for cases involving asbestos-related claims with all legal fees other than corporate counsel expenses \| $		2,900,000
Average cost per settled claim excluding legal fees \| $	$ 34,000	$ 34,000
Number of claims pending	201	201	209
Number of new cases filed	61
Number of cases dismissed	65
Number of cases settled	4
Assessment regarding Loss contingency impact Description	We are not aware of any pending claims or assessments, other than as described above, which may have a material adverse impact on our liquidity, financial position, results of operations, or cash flows.

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Jun. 04, 2020	Sep. 30, 2020	Sep. 30, 2020	Jul. 31, 2020	Dec. 31, 2019
Business Acquisition Contingent Consideration [Line Items]
Acquisition of equity	100.00%
Contingent consideration	$ 10,300
Fair value	$ 600
EIS revenue		$ 5,300	$ 5,800
Net revenue		400	600
Assets Current		184,090	184,090		$ 179,498
Liabilities		220,494	220,494		$ 215,620
Joint Venture Agreement \| Joint Venture Agreement
Business Acquisition Contingent Consideration [Line Items]
Percentage of equity hold in joint venture				70.00%
Voting interest in joint venture				50.00%
Net assets acquired				$ 1,000
Assets Current		6,200	6,200
Long-Lived Assets		8,700	8,700
Liabilities		7,300	7,300
Customer Lists [Member]
Business Acquisition Contingent Consideration [Line Items]
Acquired intangible assets		4,200	4,200
Tradename [Member]
Business Acquisition Contingent Consideration [Line Items]
Acquired intangible assets		$ 600	$ 600
Customer Lists and Tradename [Member]
Business Acquisition Contingent Consideration [Line Items]
Intangible assets, Useful Life		10 years

Acquisition - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Jul. 31, 2020	Jun. 04, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 161,352			$ 152,020	$ 152,156
Mader Holdings L.P. \| Joint Venture Agreement
Business Acquisition [Line Items]
Current assets		$ 2,040
Property and equipment		103
Goodwill		2,000
Total assets acquired		4,430
Current liabilities assumed		(430)
Deferred income tax asset		287
Other liabilities		(500)
Long term debt		(2,508)
Fair value of 30% noncontrolling equity interest in Mader		$ 992
Environmental Integrated Solutions [Member]
Business Acquisition [Line Items]
Current assets			$ 6,416
Property and equipment			26
Other assets			44
Goodwill			7,022
Intangible - finite life			4,840
Total assets acquired			18,348
Current liabilities assumed			(6,514)
Deferred income tax liability			(920)
Net assets acquired			$ 10,914

Acquisition - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - USD ($) $ in Thousands	Jul. 31, 2020	Jun. 04, 2020
Mader Holdings L.P. \| Joint Venture Agreement
Business Acquisition [Line Items]
Cash, Current assets	$ 229
Environmental Integrated Solutions [Member]
Business Acquisition [Line Items]
Cash, Current assets		$ 4,212

Acquisition - Schedule of Unaudited Pro Forma Financial Information (Details) - Environmental Integrated Solutionsn and Mader Holdings L.P. [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Net Sales	$ 77,943	$ 91,099	$ 246,550	$ 269,982
Net (loss) income attributable to CECO Environmental Corp.	$ (222)	$ 2,468	$ 7,975	$ 10,788
(Loss) earnings per share:
Basic	$ (0.01)	$ 0.07	$ 0.23	$ 0.31
Diluted	$ (0.01)	$ 0.07	$ 0.22	$ 0.30

- Definition

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Business Segment Information - Net Sales and Income from Operation by Business Segment (Detail) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Segment Reporting Information [Line Items]

Net sales

$ 77,425

$ 85,266

$ 233,081

$ 252,456

Income from operations

1,018

4,059

9,651

10,965

Corporate and Other [Member]

Segment Reporting Information [Line Items]

Income from operations

^[1]

(7,797)

(7,186)

(21,299)

(20,878)

Energy Solutions Segment [Member]

Segment Reporting Information [Line Items]

Net sales

49,709

48,847

149,429

154,606

Income from operations

7,276

7,633

24,479

23,275

Industrial Solutions Segment [Member]

Segment Reporting Information [Line Items]

Net sales

18,716

26,983

55,736

65,920

Income from operations

101

2,794

1,593

3,911

Fluid Handling Solutions Segment [Member]

Segment Reporting Information [Line Items]

Net sales

9,000

9,436

27,916

31,930

Income from operations

$ 1,438

$ 818

$ 4,878

$ 4,657

[1]	Includes corporate compensation, professional services, information technology, and other general and administrative corporate expenses

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Business Segment Information - Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Property and equipment additions	$ 883	$ 2,544	$ 2,875	$ 3,746
Depreciation and amortization	2,576	2,633	7,224	8,153
Identifiable assets	422,090		422,090		$ 408,637
Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Property and equipment additions	148	57	446	218
Depreciation and amortization	1,245	1,544	3,690	4,684
Identifiable assets	265,858		265,858		254,752
Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Property and equipment additions		59	215	222
Depreciation and amortization	475	327	1,123	998
Identifiable assets	72,931		72,931		64,725
Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Property and equipment additions	132	2,135	686	2,624
Depreciation and amortization	679	668	1,942	2,140
Identifiable assets	67,118		67,118		71,572
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Property and equipment additions	603	293	1,528	682
Depreciation and amortization	177	$ 94	469	$ 331
Identifiable assets	$ 16,183		$ 16,183		$ 17,588

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=121559654&loc=d3e5710-111685

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

+ Details

Business Segment Information - Goodwill (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Goodwill	$ 161,352	$ 152,020	$ 152,156
Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Goodwill	99,317	97,007
Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Goodwill	30,458	23,436
Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Goodwill	$ 31,577	$ 31,577

Business Segment Information - Intra-Segment and Inter-Segment Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 77,425	$ 85,266	$ 233,081	$ 252,456
Energy Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales			(902)	(1,617)
Fluid Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales			(460)	(65)
Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	49,709	48,847	149,429	154,606
Energy Solutions Segment [Member] \| Fluid Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales			(445)	(12)
Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	18,716	26,983	55,736	65,920
Industrial Solutions Segment [Member] \| Energy Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales			(902)	(1,617)
Industrial Solutions Segment [Member] \| Fluid Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales			(15)	(53)
Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	9,000	9,436	27,916	31,930
Intra - Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(4,170)	(4,723)	(19,532)	(11,298)
Intra - Segment Sales [Member] \| Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	(1,071)	(2,134)	(8,861)	(3,998)
Intra - Segment Sales [Member] \| Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	(2,914)	(2,227)	(10,038)	(6,204)
Intra - Segment Sales [Member] \| Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	(185)	(362)	(633)	(1,096)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	82,147	90,175	254,453	265,871
Operating Segments [Member] \| Energy Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	51,203	51,083	159,181	158,888
Operating Segments [Member] \| Industrial Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	21,741	29,269	66,691	73,794
Operating Segments [Member] \| Fluid Handling Solutions Segment [Member]
Segment Reporting Information [Line Items]
Net sales	9,203	9,823	28,581	33,189
Inter-segment Elimination [Member] \| Industrial Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(235)	(127)	(478)	(435)
Inter-segment Elimination [Member] \| Energy Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(111)	(59)
Inter-segment Elimination [Member] \| Fluid Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(206)
Inter-segment Elimination [Member] \| Energy Solutions Segment [Member] \| Industrial Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(217)	(102)	(446)	(272)
Inter-segment Elimination [Member] \| Energy Solutions Segment [Member] \| Fluid Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(206)
Inter-segment Elimination [Member] \| Industrial Solutions Segment [Member] \| Energy Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	(111)	(59)
Inter-segment Elimination [Member] \| Fluid Handling Solutions Segment [Member] \| Industrial Inter-Segment Sales [Member]
Segment Reporting Information [Line Items]
Net sales	$ (18)	$ (25)	$ (32)	$ (163)