Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v3.22.2.2
Business Segment Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Business Segment Information BUSINESS SEGMENT INFORMATION
Our reportable segments for the three and nine months ended September 30, 2022 were U.S. Regions, U.S. Federal, Canada, Alternative Fuels (formerly Non-Solar Distributed Generation (“Non-Solar DG”)) and All Other. On January 1, 2022, we changed the structure of our internal organization and our “All Other” segment now includes our U.S.-based enterprise energy management services previously included in our U.S Regions segment and our U.S. Regions segment now includes U.S. project revenue and associated costs previously included in our former Non-Solar DG segment. As a result, previously reported amounts have been reclassified for comparative purposes.
Our 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 and the development and construction of small-scale plants that Ameresco owns or develops for customers that produce electricity, gas, heat or cooling from renewable sources of energy and O&M services.
Our Alternative Fuels segment sells electricity and processed renewable natural gas (“RNG”) derived from biomethane from small-scale plants that we own and operate, and provides O&M services for customer-owned small-scale RNG plants.
The “All Other” category includes enterprise energy management services, other than the U.S.-based portion; consulting services, energy efficiency products and services outside of the U.S. and Canada; 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.
The tables below present our business segment information recast for the prior-year period and a reconciliation to the condensed consolidated financial statements:
U.S. Regions U.S. Federal Canada Alternative Fuels All Other Total Consolidated
Three Months Ended September 30, 2022
Revenues $ 271,206  $ 99,124  $ 12,366  $ 29,421  $ 29,179  $ 441,296 
Gain on derivatives (329) —  (121) (330) —  (780)
Interest expense, net of interest income 1,694  306  196  2,589  (48) 4,737 
Depreciation and amortization of intangible assets 5,300  1,219  420  6,391  199  13,529 
Unallocated corporate activity —  —  —  —  —  (18,971)
Income before taxes, excluding unallocated corporate activity 26,349  15,726  191  4,993  3,104  50,363 
Three Months Ended September 30, 2021
Revenues $ 107,711  $ 96,656  $ 11,658  $ 28,238  $ 29,419  $ 273,682 
(Gain) loss on derivatives (1,392) —  (286) 2,345  —  667 
Interest expense, net of interest income 1,621  324  233  1,834  92  4,104 
Depreciation and amortization of intangible assets 3,947  1,237  493  5,669  357  11,703 
Unallocated corporate activity —  —  —  —  —  (11,547)
Income before taxes, excluding unallocated corporate activity 10,499  15,150  270  3,595  1,121  30,635 

U.S. Regions U.S. Federal Canada Alternative Fuels All Other Total Consolidated
Nine Months Ended September 30, 2022
Revenues $ 983,111  $ 276,198  $ 43,999  $ 87,874  $ 101,513  $ 1,492,695 
(Gain) loss on derivatives (363) —  (25) 163  —  (225)
Interest expense, net of interest income 5,219  927  731  6,572  (73) 13,376 
Depreciation and amortization of intangible assets 15,876  3,677  1,297  17,458  729  39,037 
Unallocated corporate activity —  —  —  —  —  (52,553)
Income before taxes, excluding unallocated corporate activity 77,407  36,623  1,482  18,891  8,952  143,355 
Nine Months Ended September 30, 2021
Revenues $ 314,978  $ 289,068  $ 34,176  $ 80,031  $ 81,551  $ 799,804 
(Gain) loss on derivatives (1,021) —  (152) 3,065  —  1,892 
Interest expense, net of interest income 4,517  971  653  3,651  328  10,120 
Depreciation and amortization of intangible assets 11,375  3,386  1,393  15,467  1,097  32,718 
Unallocated corporate activity —  —  —  —  —  (32,666)
Income before taxes, excluding unallocated corporate activity 21,456  38,262  1,005  17,083  4,574  82,380 
See Note 3 for additional information about our revenues by product line.