Ameresco, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2013

Restatement to on the company's consolidated statements of income

The following table sets forth selected restated unaudited condensed consolidated statement of income data for the quarter ended March 31, 2012:



	For the Three Months Ended March 31, 2012
	As Reported		Restatement			As Restated
Net revenue	$	146,573,369	$	—		$	146,573,369
Direct expenses	117,349,559		—			117,349,559
Operating expenses	25,799,020		—			25,799,020
Total expenses	143,148,579		—			143,148,579
Operating income	3,424,790		—			3,424,790
Other expenses, net	1,337,605		(229,866		)	1,107,739
Income before provision for income taxes	2,087,185		229,866			2,317,051
Income tax provision	581,887		—			581,887
Net income	$	1,505,298	$	229,866		$	1,735,164
Net income per share attributable to common shareholders:
Basic	$	0.03	0.01			0.04
Diluted	$	0.03	0.01			0.04
Weighted average common shares outstanding:
Basic	44,145,093		44,145,093			44,145,093
Diluted	46,128,417		46,128,417			46,128,417

Changes in Allowance for Doubtful Accounts

Changes in the allowance for doubtful accounts for the three months ended March 31, 2013 and 2012 are as follows:



	Three Months Ended March 31,
	2013		2012
Allowance for doubtful accounts, beginning of period	$	1,174,458	$	1,135,391
Charges to costs and expenses	42,339		53,636
Account write-offs and other	7,309		45,246
Allowance for doubtful accounts, end of period	$	1,224,106	$	1,234,273

Estimated Useful Lives of Property and Equipment

Depreciation and amortization of property and equipment are computed on a straight-line basis over the following estimated useful lives:



Asset Classification		Estimated Useful Life
Furniture and office equipment		Five years
Computer equipment and software costs		Five years
Leasehold improvements		Lesser of term of lease or five years
Automobiles		Five years
Land		Unlimited

Basic and Diluted Earnings Per Share Calculation, Numerator and Denominator



	Three Months Ended March 31,
	2013			2012
				(Restated)
Basic and diluted net (loss) income	$	(1,924,072	)	$	1,735,164
Basic weighted-average shares outstanding	45,327,237			44,145,093
Effect of dilutive securities:
Preferred stock	—			—
Stock options	893,511			1,983,324
Diluted weighted-average shares outstanding	46,220,748			46,128,417

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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- Definition

Tabular disclosure of the nature and effects of a restatement to correct an error in the reported results of operations of prior periods. When prior period adjustments are recorded, the resulting effects (both gross and net of applicable income tax) on the net income of prior periods are disclosed in the annual report for the year in which the adjustments are made, and amended filings of previously issued reports are typically issued.

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