Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v3.23.2
Business Segment Information
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Business Segment Information BUSINESS SEGMENT INFORMATION
Our reportable segments for the three and six months ended June 30, 2023 were U.S. Regions, U.S. Federal, Canada, Alternative Fuels and All Other.
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, 2023
Revenues $ 138,985  $ 80,019  $ 15,195  $ 30,316  $ 62,559  $ 327,074 
(Gain) loss on derivatives (125) 66  39  (404) —  (424)
Interest expense, net of interest income 1,715  288  182  3,436  630  6,251 
Depreciation and amortization of intangible assets 6,704  1,234  409  6,205  1,037  15,589 
Unallocated corporate activity —  —  —  —  —  (17,131)
Income before taxes, excluding unallocated corporate activity 10,284  8,887  1,189  3,110  2,079  25,549 
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 
U.S. Regions U.S. Federal Canada Alternative Fuels All Other Total Consolidated
Six months ended June 30, 2023
Revenues $ 263,354  $ 139,575  $ 33,606  $ 58,655  $ 102,926  $ 598,116 
(Gain) loss on derivatives (428) 4  47  116  —  (261)
Interest expense, net of interest income 3,118  586  364  5,787  749  10,604 
Depreciation and amortization of intangible assets 12,753  2,459  814  12,073  1,341  29,440 
Unallocated corporate activity —  —  —  —  —  (35,974)
Income before taxes, excluding unallocated corporate activity 18,240  14,099  1,921  6,625  4,561  45,446 
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 
See Note 3 for additional information about our revenues by product line.