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)

6 Months Ended

Jun. 30, 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 and year-to-date periods ended June 30, 2012:



	Three Months Ended June 30, 2012							Six Months Ended June 30, 2012
	As Reported		Restatement			As Restated		As Reported		Restatement			As Restated
Net revenue	$	164,099,905	$	—		$	164,099,905	$	310,673,274	$	—		$	310,673,274
Direct expenses	132,942,044		—			132,942,044		250,291,603		—			250,291,603
Operating expenses	22,899,237		—			22,899,237		48,698,257		—			48,698,257
Total expenses	155,841,281		—			155,841,281		298,989,860		—			298,989,860
Operating income	8,258,624		—			8,258,624		11,683,414		—			11,683,414
Other expenses, net	1,063,126		349,618			1,412,744		2,400,731		119,752			2,520,483
Income before provision for income taxes	7,195,498		(349,618		)	6,845,880		9,282,683		(119,752		)	9,162,931
Income tax provision	2,026,630		—			2,026,630		2,608,517		—			2,608,517
Net income	$	5,168,868	$	(349,618	)	$	4,819,250	$	6,674,166	$	(119,752	)	$	6,554,414
Net income per share attributable to common shareholders:
Basic	$	0.12	(0.01		)	0.11		0.15		—			0.15
Diluted	$	0.11	(0.01		)	0.10		0.14		—			0.14
Weighted average common shares outstanding:
Basic	44,541,025		44,541,025			44,541,025		44,343,059		44,343,059			44,343,059
Diluted	46,359,323		46,359,323			46,359,323		46,143,932		46,143,932			46,143,932

Changes in Allowance for Doubtful Accounts

Changes in the allowance for doubtful accounts for the six months ended June 30, 2013 and 2012 are as follows:



	Six Months Ended June 30,
	2013			2012
Allowance for doubtful accounts, beginning of period	$	1,174,458		$	1,135,391
Charges to costs and expenses	371,308			77,743
Account write-offs and other	(25,134		)	(111,721		)
Allowance for doubtful accounts, end of period	$	1,520,632		$	1,101,413

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 June 30,					Six Months Ended June 30,
	2013			2012		2013			2012
				(Restated)					(Restated)
Basic and diluted net (loss) income	$	(1,780,751	)	$	4,819,250	$	(3,704,823	)	$	6,554,414
Basic weighted-average shares outstanding	45,465,529			44,541,025		45,396,765			44,343,059
Effect of dilutive securities:
Preferred stock	—			—		—			—
Stock options	—			1,818,298		—			1,800,873
Diluted weighted-average shares outstanding	45,465,529			46,359,323		45,396,765			46,143,932

- 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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