Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v3.19.3
Business Segment Information
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Business Segment Information
BUSINESS SEGMENT INFORMATION
The Company reports results under ASC 280, Segment Reporting. The Company’s reportable segments are U.S. Regions, U.S. Federal, Canada and Non-Solar Distributed Generation (“DG”). 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 solutions and services, which include the construction of small-scale plants that the company owns or develops for customers that produce electricity, gas, heat or cooling from renewable sources of energy and O&M services. The Company’s Non-Solar DG 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 the Company owns and O&M services for customer owned small-scale plants. The “All Other” category offers enterprise energy management services, 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 reports of the Company’s chief operating decision maker do not include assets at the operating segment level. The accounting policies are the same as those described in the summary of significant accounting policies in Note 2 included in the Company’s annual report on Form 10-K for the year ended December 31, 2018 filed with the Securities and Exchange Commission on March 8, 2019.
An analysis of the Company’s business segment information and reconciliation to the condensed consolidated financial statements is as follows:
 
U.S. Regions
 
U.S. Federal
 
Canada
 
Non-Solar DG
 
All Other
 
Total Consolidated
Three Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
84,079

 
$
71,258

 
$
12,665

 
$
21,875

 
$
22,149

 
$
212,026

Interest income
69

 
92

 

 
21

 

 
182

Interest expense
1,548

 
209

 
179

 
1,213

 

 
3,149

Depreciation and amortization of intangible assets
2,538

 
901

 
396

 
5,149

 
429

 
9,413

Unallocated corporate activity

 

 

 

 

 
(8,482
)
Income before taxes, excluding unallocated corporate activity
3,350

 
10,967

 
1,577

 
977

 
881

 
17,752

Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
86,402

 
$
62,378


$
11,604

 
$
22,138

 
$
22,853

 
$
205,375

Interest income
2

 
36

 

 
38

 

 
76

Interest expense
1,403

 
225

 
480

 
1,681

 
(13
)
 
3,776

Depreciation and amortization of intangible assets
1,341

 
671

 
294

 
4,530

 
378

 
7,214

Unallocated corporate activity

 

 

 

 

 
(8,648
)
Income before taxes, excluding unallocated corporate activity
5,256

 
10,969

 
664

 
3,851

 
1,959

 
22,699

Nine Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
227,896

 
$
169,337

 
$
27,696

 
$
66,370

 
$
69,022

 
$
560,321

Interest income
132

 
160

 

 
65

 
39

 
396

Interest expense
4,118

 
627

 
517

 
4,075

 

 
9,337

Depreciation and amortization of intangible assets
7,184

 
2,524

 
986

 
16,051

 
1,153

 
27,898

Unallocated corporate activity

 

 

 

 

 
(25,331
)
Income before taxes, excluding unallocated corporate activity
5,530

 
26,631

 
1,529

 
5,758

 
7,592

 
47,040

Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Revenues
$
249,871

 
$
168,377

 
$
28,466

 
$
60,176

 
$
62,877

 
$
569,767

Interest income
5

 
84

 

 
120

 

 
209

Interest expense
3,911

 
771

 
1,464

 
4,575

 

 
10,721

Depreciation and amortization of intangible assets
4,048

 
2,004

 
873

 
12,942

 
1,134

 
21,001

Unallocated corporate activity

 

 

 

 

 
(23,269
)
Income (loss) before taxes, excluding unallocated corporate activity
14,606

 
26,864

 
(1,983
)
 
8,796

 
3,771

 
52,054