Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v2.4.0.8
Business Segment Information
 9 Months Ended
Sep. 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 September 30, 2013 and 2012, unallocated corporate expenses were $10,429,443 and $11,244,873, respectively. Income before taxes and unallocated corporate expenses for all other for the three months ended September 30, 2013 and 2012 was $3,353,990 and $6,311,328, respectively. For the nine months ended September 30, 2013 and 2012, unallocated corporate expenses were $33,740,196 and $33,899,622, respectively. Income before taxes and unallocated corporate expenses for all other for the nine months ended September 30, 2013 and 2012 was $14,017,019 and $15,082,850, 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 September 30, 2013 and 2012:
Ameresco, Inc. and Subsidiaries
Segment Reporting
Three Months Ending September 30, 2013
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
19,259,566

 
$
23,735,134

 
$
60,673,050

 
$
20,059,253

 
$
37,921,810

 
$
161,648,813

Interest income
$
—

 
$
—

 
$
—

 
$
8,657

 
$
595

 
$
9,252

Interest expense
$
—

 
$
—

 
$
—

 
$
335,326

 
$
870,015

 
$
1,205,341

Depreciation and amortization of intangible assets
$
117,480

 
$
161,300

 
$
—

 
$
198,981

 
$
4,748,553

 
$
5,226,314

Income (loss) before taxes
$
1,970,868

 
$
2,320,240

 
$
8,904,325

 
$
(127,377
)
 
$
(7,075,453
)
 
$
5,992,603

Total assets
$
41,593,748

 
$
19,921,894

 
$
269,954,505

 
$
52,726,154

 
$
212,960,144

 
$
597,156,445

Capital expenditures
$
31,956

 
$
—

 
$
424,235

 
$
831,617

 
$
3,639,057

 
$
4,926,865

Ameresco, Inc. and Subsidiaries
Segment Reporting
Three Months Ending September 30, 2012
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
 
 
 
 
 
 
 
 
 
(Restated)
 
(Restated)
Total revenue
$
16,193,420

 
$
23,954,729

 
$
67,335,319

 
$
16,141,540

 
$
40,281,197

 
$
163,906,205

Interest income
$
—

 
$
—

 
$
—

 
$
—

 
$
4,392

 
$
4,392

Interest expense
$
—

 
$
—

 
$
—

 
$
264,254

 
$
898,689

 
$
1,162,943

Depreciation and amortization of intangible assets
$
85,664

 
$
4,955

 
$
—

 
$
149,753

 
$
4,497,892

 
$
4,738,264

Income (loss) before taxes
$
2,319,011

 
$
2,822,955

 
$
9,040,364

 
$
147,273

 
$
(4,933,546
)
 
$
9,396,057

Total assets
$
157,420,358

 
$
21,676,637

 
$
278,036,272

 
$
69,962,338

 
$
154,603,893

 
$
681,699,498

Capital expenditures
$
244,672

 
$
—

 
$
1,455,735

 
$
1,281,673

 
$
9,943,289

 
$
12,925,369


The Company’s business segments had the following operational results for the nine months ended September 30, 2013 and 2012:
Ameresco, Inc. and Subsidiaries
Segment Reporting
Nine Months Ending September 30, 2013
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
Total revenue
$
45,196,541

 
$
54,293,581

 
$
137,494,639

 
$
49,844,725

 
$
111,207,544

 
$
398,037,030

Interest income
$
—

 
$
—

 
$
—

 
$
34,232

 
$
166,512

 
$
200,744

Interest expense
$
—

 
$
—

 
$
—

 
$
1,007,753

 
$
2,222,722

 
$
3,230,475

Depreciation and amortization of intangible assets
$
340,436

 
$
176,319

 
$
—

 
$
584,612

 
$
14,403,427

 
$
15,504,794

Income (loss) before taxes
$
1,851,276

 
$
3,677,780

 
$
17,343,529

 
$
(2,061,367
)
 
$
(19,723,177
)
 
$
1,088,041

Total assets
$
41,593,748

 
$
19,921,894

 
$
269,954,505

 
$
52,726,154

 
$
212,960,144

 
$
597,156,445

Capital expenditures
$
398,757

 
$
72,297

 
$
1,246,105

 
$
1,218,312

 
$
33,570,696

 
$
36,506,167

Ameresco, Inc. and Subsidiaries
Segment Reporting
Nine Months Ending September 30, 2012
 
U.S. Federal
 
Central U.S. Region
 
Other U.S. Regions
 
Canada
 
All Other
 
Total
 
 
 
 
 
 
 
 
 
(Restated)
 
(Restated)
Total revenue
$
59,382,736

 
$
66,675,906

 
$
183,083,818

 
$
44,407,228

 
$
121,029,791

 
$
474,579,479

Interest income
$
—

 
$
—

 
$
—

 
$
2,754

 
$
10,715

 
$
13,469

Interest expense
$
—

 
$
—

 
$
—

 
$
503,979

 
$
2,797,294

 
$
3,301,273

Depreciation and amortization of intangible assets
$
220,721

 
$
14,996

 
$
—

 
$
350,534

 
$
13,860,516

 
$
14,446,767

Income (loss) before taxes
$
5,577,321

 
$
7,319,844

 
$
28,213,926

 
$
(3,735,331
)
 
$
(18,816,772
)
 
$
18,558,988

Total assets
$
157,420,358

 
$
21,676,637

 
$
278,036,272

 
$
69,962,338

 
$
154,603,893

 
$
681,699,498

Capital expenditures
$
945,626

 
$
—

 
$
2,654,946

 
$
3,587,951

 
$
23,978,291

 
$
31,166,814