Goodwill and Intangible Assets (Tables)
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12 Months Ended |
Dec. 31, 2015 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of Goodwill |
The changes in the carrying value of goodwill attributable to each reportable segment are as follows:
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U.S. Regions |
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U.S. Federal |
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Canada |
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Other |
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Total |
Balance, December 31, 2013 |
$ |
24,759 |
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|
$ |
3,375 |
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|
$ |
4,124 |
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|
$ |
20,816 |
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|
$ |
53,074 |
|
Goodwill acquired during the year |
— |
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|
— |
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|
7,590 |
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|
7,590 |
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Fair value adjustments(1) |
— |
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— |
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— |
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|
641 |
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|
641 |
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Currency effects |
— |
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|
— |
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(343 |
) |
|
(483 |
) |
|
(826 |
) |
Balance, December 31, 2014 |
24,759 |
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|
3,375 |
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|
3,781 |
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|
28,564 |
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|
60,479 |
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Goodwill acquired during the year |
— |
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— |
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— |
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— |
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— |
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Fair value adjustments(2) |
— |
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— |
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— |
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|
(403 |
) |
|
(403 |
) |
Currency effects |
— |
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— |
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|
(619 |
) |
|
(372 |
) |
|
(991 |
) |
Balance, December 31, 2015 |
$ |
24,759 |
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|
$ |
3,375 |
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$ |
3,162 |
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$ |
27,789 |
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$ |
59,085 |
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Accumulated Goodwill Impairment Balance, December 31, 2014 |
$ |
— |
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|
$ |
— |
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|
$ |
(1,016 |
) |
|
$ |
— |
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|
$ |
(1,016 |
) |
Accumulated Goodwill Impairment Balance, December 31, 2015 |
$ |
— |
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|
$ |
— |
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|
$ |
(1,016 |
) |
|
$ |
— |
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|
$ |
(1,016 |
) |
(1) Fair value adjustment represents a final purchase accounting adjustment to decrease the recorded fair value of certain acquired intangible assets totaling $801, net of a $160 deferred tax liability adjustment, related to the Company’s prior year acquisition of ESP (now known as Ameresco Limited).
(2) Fair value adjustment represents the final net working capital adjustment for purchase accounting related to the Company’s prior year acquisition of Energyexcel LLP (“EEX”).
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| Schedule of Intangible Assets, Net |
Amortization expense for the years ended December 31, 2015, 2014 and 2013 is as follows:
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Year Ended December 31, |
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2015 |
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2014 |
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2013 |
Customer contracts |
$ |
932 |
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$ |
1,673 |
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$ |
1,550 |
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Customer relationships |
2,139 |
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|
1,688 |
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1,643 |
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Non-compete agreements |
494 |
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|
805 |
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|
968 |
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Technology |
528 |
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|
490 |
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|
517 |
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Trade names |
57 |
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|
82 |
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|
124 |
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Total intangible amortization expense |
$ |
4,150 |
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$ |
4,738 |
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$ |
4,802 |
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The gross carrying amount and accumulated amortization of intangible assets are as follows:
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As of December 31, |
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2015 |
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2014 |
Gross Carrying Amount |
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Customer contracts |
$ |
7,898 |
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$ |
8,103 |
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Customer relationships |
12,496 |
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|
12,792 |
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Non-compete agreements |
3,324 |
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|
3,402 |
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Technology |
2,701 |
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|
2,794 |
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Trade names |
540 |
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|
551 |
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26,959 |
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|
27,642 |
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Accumulated Amortization |
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Customer contracts |
7,683 |
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|
6,911 |
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Customer relationships |
6,621 |
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|
4,562 |
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Non-compete agreements |
3,149 |
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|
2,725 |
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Technology |
2,241 |
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|
1,767 |
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Trade names |
495 |
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|
439 |
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20,189 |
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|
16,404 |
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Intangible assets, net |
$ |
6,770 |
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$ |
11,238 |
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Estimated amortization expense for existing intangible assets for the next five succeeding fiscal years is as follows:
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Estimated Amortization |
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Included in Cost of Revenues |
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Included in Selling, General and Administrative Expenses |
2016 |
$ |
192 |
|
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$ |
2,273 |
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2017 |
35 |
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|
1,617 |
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2018 |
3 |
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|
1,101 |
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2019 |
3 |
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|
779 |
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2020 |
2 |
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|
544 |
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