Annual report pursuant to Section 13 and 15(d)

Business Segment Information

v3.19.3.a.u2
Business Segment Information
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Business Segment Information
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