Annual report pursuant to Section 13 and 15(d)

Geographic Information

v3.24.0.1
Geographic Information
 12 Months Ended
Dec. 31, 2023
Segments, Geographical Areas [Abstract]  
Geographic Information GEOGRAPHIC INFORMATION
The following table presents our long-lived assets related to our operations by geographic area:
As of December 31,
  2023 2022
Long-lived Tangible Assets      
United States $ 1,670,322  $ 1,162,705 
Canada 23,549   24,590
Europe 12,948  9,937 
Total long-lived assets $ 1,706,819    $ 1,197,232 
We attribute revenues to customers based on the location of the customer. The following table presents revenues by geographic region:
Year Ended December 31,
2023 2022 2021
Revenues  
United States $ 1,161,775  $ 1,712,326  $ 1,126,141 
Canada 63,367 53,461 45,782
Europe 149,491  58,635  43,774 
Total revenues $ 1,374,633  $ 1,824,422  $ 1,215,697 
BUSINESS SEGMENT INFORMATION
Our reportable segments for the year ended December 31, 2023 were U.S. Regions, U.S. Federal, Canada, Alternative Fuels, and Europe. The remaining amounts are included in “All Other”. Europe was formerly included in “All Other” but was disaggregated due to growth in the segment in 2023. As a result, previously reported amounts have been reclassified for comparative purposes.
Our U.S. Regions, U.S. Federal, Canada, and Europe 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 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, processed renewable gas fuel, heat or cooling, produced from renewable sources of energy, other than solar, and generated by small-scale plants that we own and O&M services for customer owned small-scale plants. Our U.S. Regions segment also includes certain small-scale solar grid-tie plants developed for customers. The “All Other” category offers 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, 2023, 2022, and 2021, 71.8%, 46.0%, and 67.0%, respectively, of our revenues have been derived from federal, state, provincial, or local government entities, including public housing authorities, public universities and municipal utilities. The U.S. federal government, which is considered a single customer for reporting purposes, constituted 29.3%, 21.5%, and 32.3% of our consolidated revenues for the years ended December 31, 2023, 2022, and 2021, respectively. Revenues from the U.S. federal government are included in our U.S. Federal segment. Other than the U.S. federal government, one customer represented 39.6% of our revenues during the year ended December 31, 2022. Revenues from this customer is included in our U.S. Regions segment.
The reports of our chief operating decision maker do not include assets at the operating segment level.
The table below presents our business segment information and reconciliation to our consolidated financial statements:
  U.S. Regions U.S. Federal Canada Alternative Fuels Europe All Other Total
2023
Revenues $ 557,122  $ 402,884  $ 70,110  $ 117,075  $ 152,842  $ 74,600  $ 1,374,633 
Earnings from unconsolidated entities —  1,758  —  —  —  —  1,758 
(Gain) loss on derivatives (2,326) 857  (136) 497  —  —  (1,108)
Net interest expense (income) 6,169  1,429  834  16,019  2,477  (6) 26,922 
Depreciation and intangible asset amortization 27,060  5,343  1,626  26,160  2,290  1,650  64,129 
Unallocated corporate activity —  —  —  —  —  —  (68,372)
Income before taxes, excluding unallocated corporate activity 38,746  49,237  3,813  6,215  4,188  4,442  106,641 
2022
Revenues 1,123,343  391,891  58,558  114,459  61,645  74,526  1,824,422 
Earnings from unconsolidated entities —  1,647  —  —  —  —  1,647 
(Gain) loss on derivatives (354) —  (152) 294  —  —  (212)
Net interest expense (income) 6,948  1,231  917  8,657  25  (3) 17,775 
Depreciation and intangible asset amortization 21,463  4,905  1,702  23,354  575  433  52,432 
Unallocated corporate activity —  —  —  —  —  —  (71,180)
Income before taxes, excluding unallocated corporate activity 88,531  50,866  2,554  22,989  5,589  6,370  176,899 
2021
Revenues 551,118  392,948  49,483  111,223  46,164  64,761  1,215,697 
Loss from unconsolidated entities (56) —  —  —  (62) —  (118)
(Gain) loss on derivatives (1,017) —  (73) 1,330  —  —  240 
Net interest expense 6,255  1,294  879  5,793  378  —  14,599 
Depreciation and intangible asset amortization 15,699  4,666  1,872  21,080  716  724  44,757 
Unallocated corporate activity —  —  —  —  —  —  (47,361)
Income before taxes, excluding unallocated corporate activity 38,285  52,388  1,581  27,774  2,997  2,480  125,505 
See Note 3 for additional information about our revenues by product line.