Annual report pursuant to Section 13 and 15(d)

Business Segment Information

v2.4.1.9
Business Segment Information
 12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
Business Segment Information
BUSINESS SEGMENT INFORMATION
The Company reports results under ASC 280, Segment Reporting. The Company’s reportable segments for the year ended December 31, 2014 are U.S. Regions, U.S. Federal, Canada and Small-Scale Infrastructure. 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 products and services which include the construction of small-scale plants for customers that produce electricity, gas, heat or cooling from renewable sources of energy and O&M services. The Company’s Small-Scale Infrastructure segment sells electricity, processed LFG, heat or cooling, produced from renewable sources of energy, from small-scale plants that the Company owns. The “All Other” category offers enterprise energy management services, consulting services and the sale of solar PV energy products and systems (“integrated-PV”). These segments do not include results of other activities, such as corporate operating expenses not specifically allocated to the segments. For the years ended December 31, 2014, 2013 and 2012 unallocated corporate expenses were $28,087, $26,120 and $21,191, respectively. The accounting policies are the same as those described in the summary of significant accounting policies. See Note 2.
For the years ended December 31, 2014, 2013 and 2012 more than 80% 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 16.9%, 12.3% and 11.6% of the Company’s consolidated revenues for the years ended December 31, 2014, 2013 and 2012, 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
 
Small-Scale Infrastructure
 
All Other
 
Total Consolidated
2014
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
274,338

 
$
99,986

 
$
70,492

 
$
52,037

 
$
96,388

 
$
593,241

Interest income
—

 
—

 
1

 
43

 
1

 
45

Interest expense
—

 
—

 
1,369

 
3,188

 
—

 
4,557

Depreciation and intangible asset amortization
1,308

 
1,178

 
1,288

 
12,858

 
4,275

 
20,907

Unallocated corporate activity
—

 
—

 
—

 
—

 
—

 
(28,087
)
Income (loss) before taxes
25,846

 
10,489

 
(7,838
)
 
6,090

 
(208
)
 
34,379

2013
 
 
 
 
 
 
 
 
 
 
 
Revenues
314,339

 
70,452

 
68,797

 
40,388

 
80,195

 
574,171

Interest income
—

 
—

 
46

 
65

 
2

 
113

Interest expense
—

 
—

 
1,367

 
2,045

 
—

 
3,412

Depreciation and intangible asset amortization
2,071

 
1,053

 
1,687

 
10,478

 
3,145

 
18,434

Unallocated corporate activity
—

 
—

 
—

 
—

 
—

 
(26,120
)
Income (loss) before taxes
22,408

 
6,430

 
(3,043
)
 
4,365

 
(1,281
)
 
28,879

2012
 
 
 
 
 
 
 
 
 
 
 
Revenues
382,118

 
73,469

 
60,564

 
37,979

 
77,041

 
631,171

Interest income
—

 
122

 
8

 
1

 
—

 
131

Interest expense
—

 
—

 
719

 
3,429

 
36

 
4,184

Depreciation and intangible asset amortization
3,909

 
991

 
1,133

 
9,033

 
2,722

 
17,788

Unallocated corporate activity
—

 
—

 
—

 
—

 
—

 
(21,191
)
Income (loss) before taxes
44,361

 
2,263

 
(4,179
)
 
2,031

 
1,322

 
45,798


Information as to the Company’s revenues by service and product lines is as follows:
 
Year Ended December 31,
 
2014
 
2013
 
2012
Revenues:
 
 
 
 
 
Project(1)
$
388,327

 
$
388,142

 
$
462,555

Operating Assets(2)
52,168

 
42,265

 
40,455

O&M(3)
57,177

 
55,644

 
51,247

Integrated-PV(4)
52,508

 
48,869

 
45,261

Other Services
43,061

 
39,251

 
31,653

Total Revenues
$
593,241

 
$
574,171

 
$
631,171

(1) Project revenues consists of services related to the design, engineering and installation of, and the arranging of financing for, equipment and other measures to improve the efficiency and control the operation of a facility’s energy infrastructure. Project revenues also include the construction for customers of small-scale plants that produce electricity, gas, heat or cooling from renewable sources of energy.
(2) Operating Assets revenues includes the sale of electricity, processed LFG, heat or cooling from plants that the Company owns.
(3) O&M revenues includes operations and maintenance services for customers as well as measurement and verification services related to our ESPCs.
(4) Integrated-PV revenues includes the sale of solar PV energy products and systems.