Ameresco, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Geographic Information

Geographic Information

12 Months Ended

Dec. 31, 2018

Segments, Geographical Areas [Abstract]

GEOGRAPHIC INFORMATION

The Company attributes revenues to customers based on the location of the customer. Information as to the Company’s operations in different geographical areas is as follows:



	December 31,
	2018		2017
Long-lived assets:
United States	$	443,385	$	343,344
Canada	22,107		17,082
Other	1,445		1,320
Total long-lived assets	$	466,937	$	361,746



	Year Ended December 31,
	2018		2017		2016
Revenues:
United States	$	734,748	$	665,793	$	588,791
Canada	36,728		42,186		49,706
Other	15,662		9,173		12,730
Total revenues	$	787,138	$	717,152	$	651,227

BUSINESS SEGMENT INFORMATION

The Company reports results under ASC 280, Segment Reporting. The Company’s reportable segments for the year ended December 31, 2018 are U.S. Regions, U.S. Federal, Canada and Non-Solar Distributed Generation (“DG”). The Company’s U.S. Regions, U.S. Federal and Canada segments offer energy efficiency products and services which include the design, engineering and installation of equipment and other measures to improve the efficiency and control the operation of a facility’s energy infrastructure, renewable energy solutions and services which include the construction of small-scale plants that the Company owns or develops for customers that produce electricity, gas, heat or cooling from renewable sources of energy and O&M services. The Company’s Non-solar DG segment sells electricity, processed renewable gas fuel, heat or cooling, produced from renewable sources of energy, other than solar, and generated by small-scale plants that the Company owns and O&M services for customer owned small-scale plants. The Company’s U.S. Regions segment also, as of 2017, includes certain small-scale solar grid-tie plants developed for customers previously included in our Non-solar DG segment. Previously reported amounts have been restated for comparative purposes. The “All Other” category offers enterprise energy management services, consulting services and the sale of solar PV energy products and systems which we refer to as integrated-PV. These segments do not include results of other activities, such as corporate operating expenses not specifically allocated to the segments. Certain reportable segments are an aggregation of operating segments. For the years ended December 31, 2018, 2017 and 2016 unallocated corporate expenses were $30,415, $27,195 and $32,225, respectively. During the year ended December 31, 2016, the Company reserved for certain assets in its Canada segment totaling $1,934 due to collectability concerns as a result of its previously disclosed restructuring efforts. During the year ended December 31, 2016, the Company included in unallocated corporate activity $2,870 as a reserve for amounts payable from a customer who declared bankruptcy.

For the years ended December 31, 2018, 2017 and 2016 more than 77% of the Company’s revenues have been derived from federal, state, provincial or local government entities, including public housing authorities and public universities. The U.S. federal government, which is considered a single customer for reporting purposes, constituted 31.3%, 32.0% and 27.3% of the Company’s consolidated revenues for the years ended December 31, 2018, 2017 and 2016, respectively. Revenues from the U.S. federal government are included in the Company’s U.S. Federal segment.

The reports of the Company’s chief operating decision maker do not include assets at the operating segment level.

An analysis of the Company’s business segment information and reconciliation to the consolidated financial statements is as follows:



	U.S. Regions		U.S. Federal		Canada			Non-solar DG		All Other			Total Consolidated
2018
Revenues	$	334,344	$	246,309	$	38,982		$	82,655	$	84,848		$	787,138
Interest income	9		126		—			147		—			282
Interest expense	6,188		1,045		1,917			6,172		22			15,344
Depreciation and intangible asset amortization	5,578		2,772		1,155			18,101		1,542			29,148
Unallocated corporate activity	—		—		—			—		—			(30,415		)
Income before taxes, excluding unallocated corporate activity	20,543		36,332		(2,746		)	13,412		5,264			72,805
2017
Revenues	290,196		229,146		43,803			79,220		74,787			717,152
Interest income	2		44		1			83		—			130
Interest expense	2,672		1,056		1,927			3,389		38			9,082
Depreciation and intangible asset amortization	2,974		2,623		1,178			15,259		1,881			23,915
Unallocated corporate activity	—		—		—			—		—			(27,195		)
Income (loss) before taxes, excluding unallocated corporate activity	13,865		29,261		1,751			8,115		2,920			55,912
2016
Revenues	276,766		178,005		50,448			74,395		71,613			651,227
Interest income	1		11		—			38		—			50
Interest expense	1,055		942		1,737			3,319		23			7,076
Depreciation and intangible asset amortization	1,901		2,588		1,090			14,557		2,628			22,764
Unallocated corporate activity	—		—		—			—		—			(32,225		)
Income (loss) before taxes, excluding unallocated corporate activity	19,802		22,246		(2,330		)	9,301		(427		)	48,592

Information as to the Company’s revenues by service and product lines is as follows:



	Year Ended December 31,
	2018		2017		2016
Revenues:
Project	$	545,053	$	506,550	$	454,200
Energy Assets	95,776		69,241		64,882
O&M	65,236		60,574		63,082
Integrated-PV	41,349		38,796		29,325
Other Services	39,724		41,991		39,738
Total Revenues	$	787,138	$	717,152	$	651,227