Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

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Business Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
Our reportable segments for the three and six months ended June 30, 2024 were North America Regions, U.S. Federal, Europe, Alternative Fuels and All Other. On January 1, 2024, we changed the structure of our internal organization, and our U.S. Regions and Canada are now included in North America Regions. Additionally, our Asset Sustainability Group was formerly included in Canada, but is now included in “All Other”. As a result, previously reported amounts have been reclassified for comparative purposes.
Our North America Regions, U.S. Federal 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 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, thermal, renewable fuel, or biomethane using biogas as a feedstock from small-scale plants that we own and operate, and provides O&M services for customer-owned small-scale plants.
The “All Other” category includes 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.
The tables below present our business segment information recast for the prior-year period and a reconciliation to the condensed consolidated financial statements:
North America Regions U.S. Federal Europe Alternative Fuels All Other Total Consolidated
Three Months Ended June 30, 2024
Revenues $ 208,131  $ 86,737  $ 73,059  $ 45,852  $ 24,203  $ 437,982 
(Gain) loss on derivatives (1,381) (231) —  3  —  (1,609)
Interest expense, net of interest income 2,514  1,416  858  5,749  —  10,537 
Depreciation and amortization of intangible assets 8,796  2,859  514  7,019  716  19,904 
Unallocated corporate activity —  —  —  —  —  (22,632)
Income before taxes, excluding unallocated corporate activity 8,843  9,384  1,833  4,846  2,920  27,826 
North America Regions U.S. Federal Europe Alternative Fuels All Other Total Consolidated
Three Months Ended June 30, 2023
Revenues $ 151,771  $ 80,019  $ 43,525  $ 30,316  $ 21,443  $ 327,074 
(Gain) loss on derivatives (86) 66  —  (404) —  (424)
Interest expense, net of interest income 1,897  288  630  3,436  —  6,251 
Depreciation and amortization of intangible assets 7,112  1,235  611  6,204  427  15,589 
Unallocated corporate activity —  —  —  —  —  (17,131)
Income before taxes, excluding unallocated corporate activity 11,019  8,887  1,080  3,111  1,452  25,549 
North America Regions U.S. Federal Europe Alternative Fuels All Other Total Consolidated
Six months ended June 30, 2024
Revenues $ 346,416  $ 147,627  $ 117,181  $ 78,711  $ 46,453  $ 736,388 
Gain on derivatives (2,637) (1,026) —  (305) —  (3,968)
Interest expense, net of interest income 4,211  2,191  1,776  11,431  —  19,609 
Depreciation and amortization of intangible assets 16,870  4,875  1,010  14,215  1,312  38,282 
Unallocated corporate activity —  —  —  —  —  (44,775)
Income before taxes, excluding unallocated corporate activity 14,436  16,741  1,241  6,022  5,351  43,791 
North America Regions U.S. Federal Europe Alternative Fuels All Other Total Consolidated
Six Months Ended June 30, 2023
Revenues $ 292,313  $ 139,575  $ 62,621  $ 58,655  $ 44,952  $ 598,116 
(Gain) loss on derivatives (381) 4  —  116  —  (261)
Interest expense, net of interest income 3,482  586  751  5,787  (2) 10,604 
Depreciation and amortization of intangible assets 13,565  2,460  785  12,072  558  29,440 
Unallocated corporate activity —  —  —  —  —  (35,974)
Income before taxes, excluding unallocated corporate activity 19,269  14,099  1,203  6,626  4,249  45,446 
See Note 3 for additional information about our revenues by product line.