Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v2.4.0.8
Business Segment Information
 6 Months Ended
Jun. 30, 2013
Segment Reporting [Abstract]  
Business Segment Information
BUSINESS SEGMENT INFORMATION
The Company reports four segments: U.S. federal, central U.S. region, other U.S. regions and Canada. Each segment provides customers with energy efficiency and renewable energy solutions. The other U.S. regions segment is an aggregation of four regions: northeast U.S., southeast U.S., southwest U.S. and northwest U.S. These regions have similar economic characteristics — in particular, expected and actual gross profit margins. In addition, they sell products and services of a similar nature, serve similar types of customers and use similar methods to distribute their products and services. Accordingly, these four regions meet the aggregation criteria set forth in ASC 280, Segment Reporting. The “all other” category includes activities, such as certain O&M and sales of renewable energy and certain other renewable energy products, that are managed centrally at the Company’s corporate headquarters. It also includes all amortization of intangible assets and all corporate operating expenses — salaries and benefits, project development costs, and general, administrative and other — not specifically allocated to the segments. The Company does not allocate any indirect expenses to the segments. For the three months ended June 30, 2013 and 2012, unallocated corporate expenses were $11,890,808 and $9,996,615, respectively. Income before taxes and unallocated corporate expenses for all other for the three months ended June 30, 2013 and 2012 was $5,448,485 and $4,525,291, respectively. For the six months ended June 30, 2013 and 2012, unallocated corporate expenses were $23,310,753 and $22,654,749, respectively. Income before taxes and unallocated corporate expenses for all other for the six months ended June 30, 2013 and 2012 was $10,663,030 and $8,771,523, respectively. The accounting policies are the same as those described in the summary of significant accounting policies (see Note 2).
The Company’s business segments had the following operational results for the three months ended June 30, 2013 and 2012:
Ameresco, Inc. and Subsidiaries
Segment Reporting
Three Months Ending June 30, 2013
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
12,832,574

 
$
19,648,513

 
$
40,722,038

 
$
16,125,048

 
$
36,924,521

 
$
126,252,694

Interest income
$
—

 
$
—

 
$
—

 
$
11,629

 
$
23,283

 
$
34,912

Interest expense
$
—

 
$
—

 
$
—

 
$
514,793

 
$
584,509

 
$
1,099,302

Depreciation and amortization of intangible assets
$
112,921

 
$
10,283

 
$
—

 
$
192,508

 
$
4,264,750

 
$
4,580,462

Income (loss) before taxes
$
(780,354
)
 
$
1,524,693

 
$
4,544,167

 
$
(1,203,935
)
 
$
(6,442,323
)
 
$
(2,357,752
)
Total assets
$
72,251,324

 
$
23,685,122

 
$
255,268,359

 
$
50,336,156

 
$
218,408,114

 
$
619,949,075

Capital expenditures
$
116,772

 
$
9,400

 
$
212,436

 
$
225,021

 
$
18,356,442

 
$
18,920,071

Ameresco, Inc. and Subsidiaries
Segment Reporting
Three Months Ending June 30, 2012
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
 
 
 
 
 
 
 
 
 
(Restated)
 
(Restated)
Total revenue
$
21,454,484

 
$
27,273,433

 
$
65,182,293

 
$
10,630,056

 
$
39,559,639

 
$
164,099,905

Interest income
$
—

 
$
—

 
$
—

 
$
2,754

 
$
1,388

 
$
4,142

Interest expense
$
—

 
$
—

 
$
—

 
$
118,234

 
$
811,383

 
$
929,617

Depreciation and amortization of intangible assets
$
32,487

 
$
4,966

 
$
—

 
$
93,652

 
$
4,638,151

 
$
4,769,256

Income (loss) before taxes
$
1,969,949

 
$
3,706,625

 
$
10,642,416

 
$
(4,001,786
)
 
$
(5,471,324
)
 
$
6,845,880

Total assets
$
153,902,746

 
$
30,522,323

 
$
266,603,024

 
$
58,479,009

 
$
151,168,687

 
$
660,675,789

Capital expenditures
$
10,816

 
$
—

 
$
744,435

 
$
924,008

 
$
9,121,473

 
$
10,800,732


The Company’s business segments had the following operational results for the six months ended June 30, 2013 and 2012:
Ameresco, Inc. and Subsidiaries
Segment Reporting
Six Months Ending June 30, 2013
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
25,936,975

 
$
30,558,447

 
$
76,821,589

 
$
29,785,472

 
$
73,285,734

 
$
236,388,217

Interest income
$
—

 
$
—

 
$
—

 
$
25,575

 
$
165,918

 
$
191,493

Interest expense
$
—

 
$
—

 
$
—

 
$
672,427

 
$
1,352,708

 
$
2,025,135

Depreciation and amortization of intangible assets
$
222,956

 
$
15,019

 
$
—

 
$
385,631

 
$
9,654,874

 
$
10,278,480

Income (loss) before taxes
$
(119,592
)
 
$
1,357,540

 
$
8,439,204

 
$
(1,933,991
)
 
$
(12,647,723
)
 
$
(4,904,562
)
Total assets
$
72,251,324

 
$
23,685,122

 
$
255,268,359

 
$
50,336,156

 
$
218,408,114

 
$
619,949,075

Capital expenditures
$
366,802

 
$
72,297

 
$
821,870

 
$
386,695

 
$
29,931,639

 
$
31,579,303

Ameresco, Inc. and Subsidiaries
Segment Reporting
Six Months Ending June 30, 2012
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
 
 
 
 
 
 
 
 
 
(Restated)
 
(Restated)
Total revenue
$
43,189,316

 
$
42,721,177

 
$
115,748,499

 
$
28,265,688

 
$
80,748,594

 
$
310,673,274

Interest income
$
—

 
$
—

 
$
—

 
$
2,754

 
$
6,323

 
$
9,077

Interest expense
$
—

 
$
—

 
$
—

 
$
239,725

 
$
1,898,605

 
$
2,138,330

Depreciation and amortization of intangible assets
$
135,057

 
$
10,041

 
$
—

 
$
200,781

 
$
9,362,624

 
$
9,708,503

Income (loss) before taxes
$
3,258,310

 
$
4,496,889

 
$
19,173,562

 
$
(3,882,604
)
 
$
(13,883,226
)
 
$
9,162,931

Total assets
$
153,902,746

 
$
30,522,323

 
$
266,603,024

 
$
58,479,009

 
$
151,168,687

 
$
660,675,789

Capital expenditures
$
700,954

 
$
—

 
$
1,199,211

 
$
2,306,278

 
$
14,035,002

 
$
18,241,445