Annual report pursuant to Section 13 and 15(d)

Business Segment Information

v2.4.0.8
Business Segment Information
 12 Months Ended
Dec. 31, 2013
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, 2013 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 and installation of solar PV energy products and systems. 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, 2013, 2012 and 2011 unallocated corporate expenses were $26,119,511, $21,190,884 and $18,788,406, 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, 2013, 2012 and 2011 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 12.3%, 11.6% and 19.9% of the Company’s consolidated revenues for the years ended December 31, 2013, 2012 and 2011, 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
2013
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
314,339,385

 
$
70,451,614

 
$
68,797,187

 
$
40,388,023

 
$
80,195,040

 
$
574,171,249

Interest income
—

 
—

 
45,837

 
65,334

 
2,343

 
113,514

Interest expense
—

 
—

 
1,366,774

 
2,044,647

 
58

 
3,411,479

Depreciation and amortization of intangible assets
2,071,345

 
1,053,387

 
1,687,232

 
10,478,221

 
3,145,154

 
18,435,339

Unallocated corporate activity
—

 
—

 
—

 
—

 
—

 
(26,119,511
)
Income (loss) before taxes
22,407,888

 
6,430,448

 
(3,042,971
)
 
4,364,975

 
(1,281,961
)
 
28,878,379

2012
 
 
 
 
 
 
 
 
 
 
 
Revenues
382,118,235

 
73,469,139

 
60,563,724

 
37,978,732

 
77,040,735

 
631,170,565

Interest income
309

 
121,747

 
7,898

 
1,410

 
323

 
131,687

Interest expense
—

 
—

 
719,155

 
3,429,362

 
36,120

 
4,184,637

Depreciation and amortization of intangible assets
3,908,734

 
991,083

 
1,133,356

 
9,033,370

 
2,721,956

 
17,788,499

Unallocated corporate activity
—

 
—

 
—

 
—

 
—

 
(21,190,884
)
Income (loss) before taxes
44,361,239

 
2,263,079

 
(4,178,699
)
 
2,030,936

 
1,321,215

 
45,797,770

2011
 
 
 
 
 
 
 
 
 
 
 
Revenues
379,528,898

 
145,198,723

 
110,210,632

 
35,440,522

 
57,821,543

 
728,200,318

Interest income
—

 
—

 
15,785

 
2,106

 
—

 
17,891

Interest expense
—

 
—

 
128,483

 
3,248,415

 
107

 
3,377,005

Depreciation and amortization of intangible assets
1,788,806

 
225,620

 
835,739

 
9,096,725

 
720,781

 
12,667,671

Unallocated corporate activity
—

 
—

 
—

 
—

 
—

 
(18,788,406
)
Income (loss) before taxes
42,028,808

 
19,251,539

 
1,976,421

 
424,351

 
(712,608
)
 
62,968,511


Information as to the Company's revenues by service and product lines is as follows:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Revenues:
 
 
 
 
 
Energy efficiency projects(1)
$
369,510,858

 
$
448,983,992

 
$
551,323,840

Renewable energy(2)
204,660,391

 
182,186,573

 
176,876,478

Total Revenues
$
574,171,249

 
$
631,170,565

 
$
728,200,318

(1) Includes products and services related to the design, engineering and installation of equipment and other measures to improve the efficiency and control the operation of a facility’s energy infrastructure.
(2) Includes the construction of small-scale plants that produce electricity, gas, heat or cooling from renewable sources of energy, the sale of such electricity, processed LFG, heat or cooling from plants that the Company owns and the sale and installation of PV solar energy products and systems, or integrated-PV.