Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 24,453 $ 20,607
Restricted cash 14,758 12,299
Accounts receivable, net 55,098 85,354
Accounts receivable retainage, net 18,802 17,465
Costs and estimated earnings in excess of billings 50,055 56,914
Inventory, net 10,951 12,104
Prepaid expenses and other current assets 14,450 11,732
Income tax receivable 521 406
Project development costs 10,195 9,180
Total current assets 199,283 226,061
Federal ESPC receivable 188,162 158,209
Property and equipment, net 4,452 5,018
Project assets, net 339,930 319,758
Goodwill 55,439 57,976
Intangible assets, net 3,373 3,931
Other assets 24,611 26,328
Total assets 815,250 797,281
Current liabilities:    
Current portions of long-term debt and capital lease liabilities 20,319 19,292
Accounts payable 89,577 126,583
Accrued expenses and other current liabilities 20,425 22,763
Billings in excess of cost and estimated earnings 18,145 21,189
Income taxes payable 699 775
Total current liabilities 149,165 190,602
Long-term debt and capital lease liabilities, less current portions and net of deferred financing fees 173,322 140,593
Federal ESPC liabilities 163,704 133,003
Deferred income taxes, net 4,236 9,037
Deferred grant income 7,602 7,739
Other liabilities 15,129 15,154
Commitments and contingencies (Note 6)
Redeemable non-controlling interest 5,685 6,847
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding at March 31, 2017 and December 31, 2016 0 0
Additional paid-in capital 113,509 112,926
Retained earnings 197,709 194,353
Accumulated other comprehensive loss, net (6,380) (6,591)
Less - treasury stock, at cost, 1,686,232 shares at March 31, 2017 and 1,298,418 shares at December 31, 2016 (8,436) (6,387)
Total equity 296,407 294,306
Total liabilities, redeemable non-controlling interest and equity 815,250 797,281
Common Class A    
Stockholders’ equity:    
Common Stock 3 3
Common Class B    
Stockholders’ equity:    
Common Stock $ 2 $ 2