Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v3.23.3
Business Segment Information
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
Our reportable segments for the three and nine months ended September 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 September 30, 2023
Revenues $ 143,239  $ 87,341  $ 17,534  $ 27,319  $ 59,716  $ 335,149 
Gain on derivatives (1,658) (792) (107) (490) —  (3,047)
Interest expense, net of interest income 1,583  278  175  4,762  766  7,564 
Depreciation and amortization of intangible assets 7,031  1,229  408  6,668  1,277  16,613 
Unallocated corporate activity —  —  —  —  —  (20,380)
Income before taxes, excluding unallocated corporate activity 15,161  12,128  1,106  820  1,953  31,168 
U.S. Regions U.S. Federal Canada Alternative Fuels All Other Total Consolidated
Three Months Ended September 30, 2022
Revenues $ 271,206  $ 99,124  $ 12,366  $ 29,421  $ 29,179  $ 441,296 
Gain on derivatives (329) —  (121) (330) —  (780)
Interest expense, net of interest income 1,694  306  196  2,589  (48) 4,737 
Depreciation and amortization of intangible assets 5,300  1,219  420  6,391  199  13,529 
Unallocated corporate activity —  —  —  —  —  (18,971)
Income before taxes, excluding unallocated corporate activity 26,349  15,726  191  4,993  3,104  50,363 
U.S. Regions U.S. Federal Canada Alternative Fuels All Other Total Consolidated
Nine months ended September 30, 2023
Revenues $ 406,593  $ 226,916  $ 51,140  $ 85,974  $ 162,642  $ 933,265 
Gain on derivatives (2,086) (788) (60) (374) —  (3,308)
Interest expense, net of interest income 4,701  864  539  10,549  1,515  18,168 
Depreciation and amortization of intangible assets 19,784  3,688  1,222  18,741  2,618  46,053 
Unallocated corporate activity —  —  —  —  —  (56,354)
Income before taxes, excluding unallocated corporate activity 33,401  26,227  3,027  7,445  6,514  76,614 
U.S. Regions U.S. Federal Canada Alternative Fuels All Other Total Consolidated
Nine Months Ended September 30, 2022
Revenues $ 983,111  $ 276,198  $ 43,999  $ 87,874  $ 101,513  $ 1,492,695 
(Gain) loss on derivatives (363) —  (25) 163  —  (225)
Interest expense, net of interest income 5,219  927  731  6,572  (73) 13,376 
Depreciation and amortization of intangible assets 15,876  3,677  1,297  17,458  729  39,037 
Unallocated corporate activity —  —  —  —  —  (52,553)
Income before taxes, excluding unallocated corporate activity 77,407  36,623  1,482  18,891  8,952  143,355 
See Note 3 for additional information about our revenues by product line.