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, 2019

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,
	2019		2018
Long-lived assets:
United States	$	564,047	$	443,385
Canada	24,684		22,107
Other	834		1,445
Total long-lived assets	$	589,565	$	466,937



	Year Ended December 31,
	2019		2018		2017
Revenues:
United States	$	815,405	$	734,748	$	665,793
Canada	35,031		36,728		42,186
Other	16,497		15,662		9,173
Total revenues	$	866,933	$	787,138	$	717,152

BUSINESS SEGMENT INFORMATION

The Company reports results under ASC 280, Segment Reporting. The Company’s reportable segments for the year ended December 31, 2019 are U.S. Regions, U.S. Federal, Canada and Non-Solar Distributed Generation (“Non-Solar 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 includes certain small-scale solar grid-tie plants developed for customers. 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, 2019, 2018 and 2017 unallocated corporate expenses were $34,156, $30,415 and $27,195, respectively.

For the years ended December 31, 2019, 2018 and 2017 more than 75% 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 33.2%, 31.3% and 32.0% of the Company’s consolidated revenues for the years ended December 31, 2019, 2018 and 2017, 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
2019
Revenues	$	365,060	$	287,426	$	37,910		$	84,683	$	91,854	$	866,933
Interest income	166		208		—			82		68		524
Interest expense	5,858		831		691			5,242		—		12,622
Depreciation and intangible asset amortization	9,934		3,427		1,386			21,359		1,603		37,709
Unallocated corporate activity	—		—		—			—		—		(34,156		)
Income before taxes, excluding unallocated corporate activity	15,925		40,553		1,771			3,813		8,647		70,709
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 (loss) 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 before taxes, excluding unallocated corporate activity	13,865		29,261		1,751			8,115		2,920		55,912

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



	Year Ended December 31,
	2019		2018		2017
Project	$	611,064	$	545,053	$	506,550
Energy Assets	98,042		95,776		69,241
O&M	66,709		65,236		60,574
Integrated-PV	47,953		41,349		38,796
Other Services	43,165		39,724		41,991
Total Revenues	$	866,933	$	787,138	$	717,152