Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v2.4.0.6
Business Segment Information
 6 Months Ended
Jun. 30, 2012
Segment Reporting [Abstract]  
Business Segment Information
BUSINESS SEGMENT INFORMATION
The Company reports four segments: U.S. federal, central U.S. region, other U.S. regions and Canada. Each segment provides customers with energy efficiency and renewable energy solutions. The other U.S. regions segment is an aggregation of four regions: northeast U.S., southeast U.S., southwest U.S. and northwest U.S. These regions have similar economic characteristics — in particular, expected and actual gross profit margins. In addition, they sell products and services of a similar nature, serve similar types of customers and use similar methods to distribute their products and services. Accordingly, these four regions meet the aggregation criteria set forth in ASC 280, Segment Reporting. The "all other" category includes activities, such as certain O&M and sales of renewable energy and certain other renewable energy products, that are managed centrally at the Company's corporate headquarters. It also includes all amortization of intangible assets and all corporate operating expenses — salaries and benefits, project development costs, and general, administrative and other — not specifically allocated to the segments. The Company does not allocate any indirect expenses to the segments. For the three months ended June 30, 2011 and 2012, unallocated corporate expenses were $8,681,007 and $9,996,615, respectively. Income before taxes and unallocated corporate expenses for all other for the three months ended June 30, 2011 and 2012, was $3,298,358 and $4,874,909, respectively. For the six months ended June 30, 2011 and 2012, unallocated corporate expenses were $18,377,185 and $22,654,749, respectively. Income before taxes and unallocated corporate expenses for all other for the six months ended June 30, 2011 and 2012, was $7,369,541 and $8,891,275, respectively. The accounting policies are the same as those described in the summary of significant accounting policies (see Note 2).
The Company's business segments had the following operational results for the three months ended June 30, 2012 and 2011:
Ameresco, Inc. and Subsidiaries
Segment Reporting
Three Months Ending June 30, 2012 
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
21,454,484

 
$
27,273,433

 
$
65,182,293

 
$
10,630,056

 
$
39,559,639

 
$
164,099,905

Interest income
$
—

 
$
—

 
$
—

 
$
2,754

 
$
1,388

 
$
4,142

Interest expense
$
—

 
$
—

 
$
—

 
$
118,234

 
$
811,383

 
$
929,617

Depreciation and amortization of intangible assets
$
32,487

 
$
4,966

 
$
—

 
$
93,652

 
$
4,638,151

 
$
4,769,256

Income (loss) before taxes
$
1,969,949

 
$
3,706,625

 
$
10,642,416

 
$
(4,001,786
)
 
$
(5,121,706
)
 
$
7,195,498

Total assets
$
153,902,746

 
$
30,522,323

 
$
266,603,024

 
$
58,479,009

 
$
151,168,687

 
$
660,675,789

Capital expenditures
$
10,816

 
$
—

 
$
744,435

 
$
924,008

 
$
9,121,473

 
$
10,800,732

 






Ameresco, Inc. and Subsidiaries
Segment Reporting
Three Months Ending June 30, 2011
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
38,495,552

 
$
21,782,922

 
$
52,042,053

 
$
26,955,522

 
$
26,205,894

 
$
165,481,943

Interest income
$
—

 
$
—

 
$
—

 
$
(10,171
)
 
$
75,970

 
$
65,799

Interest expense
$
—

 
$
—

 
$
—

 
$
(10,156
)
 
$
969,702

 
$
959,546

Depreciation
$
57,301

 
$
9,242

 
$
—

 
$
211,650

 
$
2,571,741

 
$
2,849,934

Income (loss) before taxes
$
7,438,809

 
$
1,080,845

 
$
8,826,309

 
$
405,680

 
$
(5,382,649
)
 
$
12,368,994

Total assets
$
227,473,184

 
$
16,479,677

 
$
191,757,215

 
$
68,345,751

 
$
156,523,190

 
$
660,579,017

Capital expenditures
$
29,510

 
$
4,164

 
$
676,994

 
$
1,013,260

 
$
7,317,164

 
$
9,041,092

 
 
 
 
 
 
 
 
 
 
 
 


The Company's business segments had the following operational results for the six months ended June 30, 2012 and 2011:

Ameresco, Inc. and Subsidiaries
Segment Reporting
Six Months Ending June 30, 20121

 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
43,189,316

 
$
42,721,177

 
$
115,748,499

 
$
28,265,688

 
$
80,748,594

 
$
310,673,274

Interest income
$
—

 
$
—

 
$
—

 
$
2,754

 
$
6,323

 
$
9,077

Interest expense
$
—

 
$
—

 
$
—

 
$
239,725

 
$
1,898,605

 
$
2,138,330

Depreciation and amortization of intangible assets
$
135,057

 
$
10,041

 
$
—

 
$
200,781

 
$
9,362,624

 
$
9,708,503

Income (loss) before taxes
$
3,258,310

 
$
4,496,889

 
$
19,173,562

 
$
(3,882,604
)
 
$
(13,763,474
)
 
$
9,282,683

Total assets
$
153,902,746

 
$
30,522,323

 
$
266,603,024

 
$
58,479,009

 
$
151,168,687

 
$
660,675,789

Capital expenditures
$
700,954

 
$
—

 
$
1,199,211

 
$
2,306,278

 
$
14,035,002

 
$
18,241,445


Ameresco, Inc. and Subsidiaries
Segment Reporting
Six Months Ending June 30, 2011

 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
80,565,051

 
$
39,260,683

 
$
89,034,780

 
$
51,499,972

 
$
51,541,226

 
$
311,901,712

Interest income
$
—

 
$
—

 
$
—

 
$
5,026

 
$
178,207

 
$
183,233

Interest expense
$
—

 
$
—

 
$
—

 
$
1,925

 
$
1,864,659

 
$
1,866,584

Depreciation
$
113,512

 
$
15,821

 
$
—

 
$
311,044

 
$
5,091,958

 
$
5,532,335

Income (loss) before taxes
$
13,986,612

 
$
689,508

 
$
14,707,904

 
$
1,395,567

 
$
(11,007,644
)
 
$
19,771,947

Total assets
$
227,473,184

 
$
16,479,677

 
$
191,757,215

 
$
68,345,751

 
$
156,523,190

 
$
660,579,017

Capital expenditures
$
65,052

 
$
14,470

 
$
1,267,153

 
$
1,915,660

 
$
13,265,190

 
$
16,527,525