Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 34,125 $ 24,262
Restricted cash 16,894 15,751
Accounts receivable, net 93,622 85,121
Accounts receivable retainage, net 19,869 17,484
Costs and estimated earnings in excess of billings 64,064 104,852
Inventory, net 8,683 8,139
Prepaid expenses and other current assets 23,258 14,037
Income tax receivable 4,246 6,053
Project development costs 14,652 11,379
Total current assets 279,413 287,078
Federal ESPC receivable 254,349 248,917
Property and equipment, net 5,817 5,303
Energy assets, net 381,724 356,443
Deferred income taxes 3,570 0
Goodwill 56,294 56,135
Intangible assets, net 2,231 2,440
Other assets 28,377 27,635
Total assets 1,011,775 983,951
Current liabilities:    
Current portions of long-term debt and capital lease liabilities 26,253 22,375
Accounts payable 100,085 135,881
Accrued expenses and other current liabilities 23,818 23,260
Billings in excess of cost and estimated earnings 22,462 19,871
Income taxes payable 564 755
Total current liabilities 173,182 202,142
Long-term debt and capital lease liabilities, less current portions and net of deferred financing fees 218,398 173,237
Federal ESPC liabilities 244,341 235,088
Deferred income taxes, net 0 584
Deferred grant income 7,050 7,188
Other liabilities 17,784 18,754
Commitments and contingencies (Note 7)
Redeemable non-controlling interests 10,751 10,338
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding at March 31, 2018 and December 31, 2017 0 0
Additional paid-in capital 117,242 116,196
Retained earnings 238,378 235,844
Accumulated other comprehensive loss, net (3,786) (5,626)
Less - treasury stock, at cost, 2,085,397 shares at March 31, 2018 and 1,873,266 shares at December 31, 2017 (11,570) (9,799)
Total stockholders’ equity 340,269 336,620
Total liabilities, redeemable non-controlling interests and stockholders’ equity 1,011,775 983,951
Common Class A    
Stockholders’ equity:    
Common Stock 3 3
Common Class B    
Stockholders’ equity:    
Common Stock $ 2 $ 2