Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.10.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents (including amounts in VIEs of $1,255 and $444, respectively) $ 61,397 $ 24,262
Restricted cash (including amounts in VIEs of $156 and $155, respectively) 16,880 15,751
Accounts receivable, net (including amounts in VIEs of $374 and $328, respectively) 85,985 85,121
Accounts receivable retainage, net 13,516 17,484
Costs and estimated earnings in excess of billings (including amounts in VIEs of $498 and $360, respectively) 86,842 104,852
Inventory, net 7,765 8,139
Prepaid expenses and other current assets (including amounts in VIEs of $190 and $8, respectively) 11,571 14,037
Income tax receivable 5,296 6,053
Project development costs 21,717 11,379
Total current assets 310,969 287,078
Federal ESPC receivable 293,998 248,917
Property and equipment, net 6,985 5,303
Energy assets, net (including amounts in VIEs of $122,641 and $55,712, respectively) 459,952 356,443
Goodwill 58,332 56,135
Intangible assets, net 2,004 2,440
Other assets (including amounts in VIEs of $1,613 and $1,398, respectively) 29,394 27,635
Total assets 1,161,634 983,951
Current liabilities:    
Current portions of long-term debt and capital lease liabilities (including amounts in VIEs of $1,712 and $0, respectively) 26,890 22,375
Accounts payable (including amounts in VIEs of $234 and $764, respectively) 134,330 135,881
Accrued expenses and other current liabilities (including amounts in VIEs of $4,233 and $149, respectively) 35,947 23,260
Billings in excess of cost and estimated earnings 24,363 19,871
Income taxes payable 1,100 755
Total current liabilities 222,630 202,142
Long-term debt and capital lease liabilities, less current portions and net of deferred financing fees (including amounts in VIEs of $26,461 and $0, respectively) 219,162 173,237
Federal ESPC liabilities 288,047 235,088
Deferred income taxes, net 4,352 584
Deferred grant income 6,637 7,188
Other liabilities (including amounts in VIEs of $2,131 and $0, respectively) 29,212 18,754
Commitments and contingencies (Note 14)
Redeemable non-controlling interests 14,719 10,338
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding at December 31, 2018 and 2017 0 0
Additional paid-in capital 124,651 116,196
Retained earnings 269,806 235,844
Accumulated other comprehensive loss, net of income taxes (5,949) (5,626)
Less - treasury stock, at cost, 2,091,040 shares at December 31, 2018, and 1,873,266 shares at December 31, 2017 (11,638) (9,799)
Total stockholders’ equity 376,875 336,620
Total liabilities, redeemable non-controlling interests and stockholders’ equity 1,161,634 983,951
Class A Common Stock    
Stockholders’ equity:    
Common stock 3 3
Class B Common Stock    
Stockholders’ equity:    
Common stock $ 2 $ 2