Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v2.4.0.6
Business Segment Information
9 Months Ended
Sep. 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 September 30, 2011 and 2012, unallocated corporate expenses were $10,259,457 and $11,244,873, respectively. Income before taxes and unallocated corporate expenses for all other for the three months ended September 30, 2011 and 2012, was $194,499 and $6,370,389, respectively. For the nine months ended September 30, 2011 and 2012, unallocated corporate expenses were $28,636,642 and $33,899,622, respectively. Income before taxes and unallocated corporate expenses for all other for the nine months ended September 30, 2011 and 2012, was $7,564,040 and $15,261,663, 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 September 30, 2012 and 2011:
Ameresco, Inc. and Subsidiaries
Segment Reporting
Three Months Ending September 30, 2012 
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
16,193,420

 
$
23,954,729

 
$
67,335,319

 
$
16,141,540

 
$
40,281,197

 
$
163,906,205

Interest income
$

 
$

 
$

 
$

 
$
4,392

 
$
4,392

Interest expense
$

 
$

 
$

 
$
264,254

 
$
898,689

 
$
1,162,943

Depreciation and amortization of intangible assets
$
85,664

 
$
4,955

 
$

 
$
149,753

 
$
4,497,892

 
$
4,738,264

Income (loss) before taxes
$
2,319,011

 
$
2,822,955

 
$
9,040,364

 
$
147,273

 
$
(4,874,485
)
 
$
9,455,118

Total assets
$
157,420,358

 
$
21,676,637

 
$
278,036,272

 
$
69,962,338

 
$
154,603,893

 
$
681,699,498

Capital expenditures
$
244,672

 
$

 
$
1,455,735

 
$
1,281,673

 
$
9,943,289

 
$
12,925,369

 


Ameresco, Inc. and Subsidiaries
Segment Reporting
Three Months Ending September 30, 2011
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
28,525,581

 
$
32,206,277

 
$
96,496,756

 
$
37,235,830

 
$
33,339,124

 
$
227,803,568

Interest income
$

 
$

 
$

 
$
2

 
$
90,650

 
$
90,652

Interest expense
$

 
$

 
$

 
$
172

 
$
1,343,612

 
$
1,343,784

Depreciation and amortization of intangible assets
$
47,112

 
$
(2,231
)
 
$

 
$
416,104

 
$
3,561,966

 
$
4,022,951

Income (loss) before taxes
$
2,393,199

 
$
4,326,876

 
$
17,116,611

 
$
1,277,048

 
$
(10,064,958
)
 
$
15,048,776

Total assets
$
250,568,886

 
$
20,482,833

 
$
309,664,125

 
$
73,491,855

 
$
134,225,914

 
$
788,433,613

Capital expenditures
$
95,389

 
$
3,469

 
$
1,226,426

 
$
833,666

 
$
15,541,724

 
$
17,700,674

 
 
 
 
 
 
 
 
 
 
 
 


The Company's business segments had the following operational results for the nine months ended September 30, 2012 and 2011:
Ameresco, Inc. and Subsidiaries
Segment Reporting
Nine Months Ending September 30, 20121

 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
59,382,736

 
$
66,675,906

 
$
183,083,818

 
$
44,407,228

 
$
121,029,791

 
$
474,579,479

Interest income
$

 
$

 
$

 
$
2,754

 
$
10,715

 
$
13,469

Interest expense
$

 
$

 
$

 
$
503,979

 
$
2,797,294

 
$
3,301,273

Depreciation and amortization of intangible assets
$
220,721

 
$
14,996

 
$

 
$
350,534

 
$
13,860,516

 
$
14,446,767

Income (loss) before taxes
$
5,577,321

 
$
7,319,844

 
$
28,213,926

 
$
(3,735,331
)
 
$
(18,637,959
)
 
$
18,737,801

Total assets
$
157,420,358

 
$
21,676,637

 
$
278,036,272

 
$
69,962,338

 
$
154,603,893

 
$
681,699,498

Capital expenditures
$
945,626

 
$

 
$
2,654,946

 
$
3,587,951

 
$
23,978,291

 
$
31,166,814


Ameresco, Inc. and Subsidiaries
Segment Reporting
Nine Months Ending September 30, 2011

 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
109,090,632

 
$
71,466,960

 
$
185,531,536

 
$
88,735,802

 
$
84,880,350

 
$
539,705,280

Interest income
$

 
$

 
$

 
$
5,028

 
$
268,857

 
$
273,885

Interest expense
$

 


 
$

 
$
2,097

 
$
3,208,271

 
$
3,210,368

Depreciation and amortization of intangible assets
$
160,624

 
$
13,590

 
$

 
$
727,148

 
$
8,653,924

 
$
9,555,286

Income (loss) before taxes
$
16,379,811

 
$
5,016,384

 
$
31,824,515

 
$
2,672,615

 
$
(21,072,602
)
 
$
34,820,723

Total assets
$
250,568,886

 
$
20,482,833

 
$
309,664,125

 
$
73,491,855

 
$
134,225,914

 
$
788,433,613

Capital expenditures
$
160,441

 
$
17,939

 
$
2,493,579

 
$
2,749,326

 
$
28,806,914

 
$
34,228,199