Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v3.22.2
Business Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Business Segment Information BUSINESS SEGMENT INFORMATION
Our reportable segments for the three and six months ended June 30, 2022 were U.S. Regions, U.S. Federal, Canada, Alternative Fuels (formerly Non-Solar Distributed Generation (“Non-Solar DG”)) and All Other. On January 1, 2022, we changed the structure of our internal organization and our “All Other” segment now includes our U.S.-based enterprise energy management services previously included in our U.S Regions segment and our U.S. Regions segment now includes U.S. project revenue and associated costs previously included in our former Non-Solar DG segment. As a result, previously reported amounts have been reclassified for comparative purposes.
Our 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 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 and processed renewable natural gas (“RNG”) derived from biomethane from small-scale plants that we own and operate, and provides O&M services for customer-owned small-scale RNG plants.
The “All Other” category includes enterprise energy management services, other than the U.S.-based portion; consulting services, energy efficiency products and services outside of the U.S. and Canada; 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:
U.S. Regions U.S. Federal Canada Alternative Fuels All Other Total Consolidated
Three Months Ended June 30, 2022
Revenues $ 397,385  $ 101,428  $ 14,461  $ 29,192  $ 34,931  $ 577,397 
(Gain) loss on derivatives (261) —  45  (851) —  (1,067)
Interest expense, net of interest income 1,883  315  313  2,193  (18) 4,686 
Depreciation and amortization of intangible assets 5,298  1,213  430  5,651  259  12,851 
Unallocated corporate activity —  —  —  —  —  (17,673)
Income before taxes, excluding unallocated corporate activity 32,840  12,011  1,012  6,476  3,139  55,478 
Three Months Ended June 30, 2021
Revenues $ 118,023  $ 90,198  $ 10,875  $ 26,213  $ 28,611  $ 273,920 
(Gain) loss on derivatives (161) —  26  1,793  —  1,658 
Interest expense, net of interest income 1,453  326  213  1,207  77  3,276 
Depreciation and amortization of intangible assets 3,942  1,139  485  4,936  363  10,865 
Unallocated corporate activity —  —  —  —  —  (10,092)
Income before taxes, excluding unallocated corporate activity 7,718  11,082  749  4,716  1,817  26,082 

U.S. Regions U.S. Federal Canada Alternative Fuels All Other Total Consolidated
Six Months Ended June 30, 2022
Revenues $ 711,905  $ 177,074  $ 31,633  $ 58,453  $ 72,334  $ 1,051,399 
(Gain) loss on derivatives (34) —  96  493  —  555 
Interest expense, net of interest income 3,525  621  535  3,983  (25) 8,639 
Depreciation and amortization of intangible assets 10,576  2,458  877  11,067  530  25,508 
Unallocated corporate activity —  —  —  —  —  (33,582)
Income before taxes, excluding unallocated corporate activity 51,058  20,897  1,291  13,898  5,848  92,992 
Six Months Ended June 30, 2021
Revenues $ 207,267  $ 192,412  $ 22,518  $ 51,793  $ 52,132  $ 526,122 
Loss on derivatives 371  —  205  719  —  1,295 
Interest expense, net of interest income 2,896  647  420  1,817  236  6,016 
Depreciation and amortization of intangible assets 7,428  2,149  900  9,798  740  21,015 
Unallocated corporate activity —  —  —  —  —  (21,057)
Income before taxes, excluding unallocated corporate activity 10,957  23,112  664  13,488  3,462  51,683 
See Note 3 for additional information about our revenues by product line.