Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Mar. 31, 2018
Dec. 31, 2017
Mar. 31, 2017
Statement of Cash Flows [Abstract]            
Net income (loss) $ 7,504 $ (1,744)        
Adjustments to reconcile net income (loss) to cash flows from operating activities:            
Depreciation of energy assets 6,312 5,109        
Depreciation of property and equipment 542 693        
Amortization of deferred financing fees 419 397        
Amortization of intangible assets 253 380        
Provision for bad debts 64 0        
Gain on sale of assets 0 (104)        
Unrealized gain (loss) on ineffectiveness of interest rate swaps (102) (123)        
Stock-based compensation expense 355 343        
Deferred income taxes (2,920) (859)        
Unrealized foreign exchange gain (loss) 492 (185)        
Changes in operating assets and liabilities:            
Accounts receivable (1,837) 30,478        
Accounts receivable retainage (2,453) (1,333)        
Federal ESPC receivable (37,967) (34,418)        
Inventory, net (544) 1,154        
Costs and estimated earnings in excess of billings 30,363 7,193        
Prepaid expenses and other current assets (4,578) (2,686)        
Project development costs (2,325) (1,155)        
Other assets (281) (23)        
Accounts payable, accrued expenses and other current liabilities (33,309) (31,939)        
Billings in excess of cost and estimated earnings 1,190 (3,053)        
Other liabilities 135 65        
Income taxes payable 1,617 (201)        
Cash flows from operating activities (37,070) (32,011)        
Cash flows from investing activities:            
Purchases of property and equipment (1,015) (387)        
Purchases of energy assets (12,818) (29,121)        
Proceeds from sale of assets of a business 0 2,777        
Acquisitions, net of cash received (21,343) (2,409)        
Cash flows from investing activities (35,176) (29,140)        
Cash flows from financing activities:            
Payments of financing fees (575) (338)        
Proceeds from exercises of options 691 240        
Repurchase of common stock (1,771) (2,049)        
Proceeds from senior secured credit facility, net 17,404 18,000        
Proceeds from long-term debt financings 33,501 12,878        
Proceeds from Federal ESPC projects 36,581 35,167        
Proceeds from sale of Federal ESPC energy assets 717 0        
Proceeds from sale-leaseback financings 0 8,783        
Distributions to redeemable non-controlling interests, net (103) (62)        
Payments on long-term debt (2,322) (8,010)        
Cash flows from financing activities 84,123 64,609        
Effect of exchange rate changes on cash (185) 51        
Net increase in cash, cash equivalents, and restricted cash 11,692 3,509        
Cash, cash equivalents, and restricted cash, beginning of period 60,105 52,826 $ 52,826      
Cash, cash equivalents, and restricted cash, end of period 71,797 56,335 60,105      
Supplemental disclosures of cash flow information:            
Cash paid for interest 1,402 2,384        
Cash paid for income taxes 442 211        
Non-cash Federal ESPC settlement 28,367 4,466        
Accrued purchases of energy assets 4,482 11,987        
Reconciliation of cash, cash equivalents and restricted cash            
Cash and cash equivalents       $ 34,125 $ 24,262 $ 24,453
Short-term restricted cash       16,894 15,751 14,758
Long-term restricted cash included in other assets       20,778 20,092 17,124
Total cash and cash equivalents, and restricted cash $ 60,105 $ 52,826 $ 52,826 $ 71,797 $ 60,105 $ 56,335