Ameresco, Inc. AMRC Balance Sheet

Ameresco, inc. (AMRC)

Balance Sheet / Yearly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Dec'10
ASSETS
Current assets:
Cash and cash equivalents
40,351	33,223	34,104	38,343	25,487	61,397	64,539	27,952	34,125	24,262	29,559	27,131	24,453	20,607	18,357	15,277	17,102	21,645	21,256	19,319	17,662	23,762	23,486	16,408	20,740	17,171	18,790	17,629	20,963	63,347	26,176	28,909	38,435	26,277	31,734	59,782	44,691
Restricted cash
15,012	20,006	13,498	13,530	14,994	16,880	13,461	15,103	16,894	15,751	15,789	16,565	14,758	12,299	12,449	12,382	11,126	16,236	15,306	13,555	13,597	7,318	13,542	12,535	15,815	15,497	25,817	26,239	25,749	26,358	15,771	15,030	12,587	12,372	12,687	9,549	9,197
Accounts receivable, net of allowance of $2,587 and $2,765, respectively
110,742	95,863	91,755	109,332	81,896	85,985	90,378	115,596	93,622	85,121	64,230	67,679	55,098	85,354	80,737	80,445	69,113	73,372	75,649	68,605	65,644	71,661	92,728	74,940	76,420	82,008	79,043	76,760	88,298	84,124	103,092	96,645	84,952	109,296	143,856	81,902	68,584
Accounts receivable retainage, net
21,265	16,976	16,652	15,383	14,762	13,516	14,401	14,669	19,869	17,484	17,447	18,295	18,802	17,465	21,797	21,959	23,339	21,454	20,407	11,900	11,001	15,968	14,378	14,422	15,250	18,195	24,895	24,758	22,151	23,197	21,059	24,026	20,539	26,089	18,562	18,396	18,452
Costs and estimated earnings in excess of billings
189,566	202,243	124,652	120,686	92,264	86,842	66,471	64,656	-	104,852	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs and estimated earnings in excess of billings
-	-	-	-	-	-	-	-	64,064	-	82,647	53,313	50,055	56,914	60,085	69,797	58,426	88,334	76,650	68,905	63,147	66,325	53,318	56,003	49,754	71,204	64,020	52,564	43,528	62,096	63,136	57,044	51,524	69,251	55,093	46,589	35,556
Inventory, net
9,229	9,236	9,902	9,219	8,930	7,765	8,128	8,264	8,683	8,139	8,602	9,479	10,951	12,104	13,388	14,406	13,547	13,223	12,214	10,118	8,920	8,896	9,050	9,256	9,231	10,257	9,408	11,548	11,494	9,502	7,093	9,145	8,776	8,635	8,323	8,763	6,780
Prepaid expenses and other current assets
28,052	29,424	22,585	16,717	14,437	11,571	13,123	14,853	23,258	14,037	13,836	10,613	14,450	11,732	14,728	12,023	14,452	11,745	12,939	12,073	7,584	8,666	12,932	12,579	8,815	14,177	10,108	11,022	8,639	9,600	8,310	10,676	6,183	8,992	10,216	9,199	8,471
Income tax receivable
7,135	5,033	1,629	1,622	1,727	5,296	13,684	17,237	4,246	6,053	521	521	521	406	0	0	1,576	2,151	0	2,855	5,076	3,525	7,516	10,646	8,321	3,971	5,951	5,760	6,586	5,385	7,851	8,227	10,287	9,662	9,504	9,184	2,511
Project development costs
16,740	13,188	-	-	-	21,717	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,069	5,363	5,714	-	6,224	6,047	4,843	4,843	4,503	4,480	6,254	5,190	7,409	6,456	6,456	6,456	12,668	11,484	9,908
Project development costs
-	-	26,305	23,849	25,834	-	16,776	16,095	14,652	11,379	12,584	13,339	10,195	9,180	15,037	17,149	17,328	15,538	15,781	14,416	11,849	9,674	11,565	11,193	11,161	9,686	11,877	11,458	10,684	9,038	8,262	7,183	6,860	6,027	8,170	6,801	7,556
Total current assets
438,092	425,192	341,082	348,681	280,331	310,969	300,961	294,425	279,413	287,078	245,215	216,935	199,283	226,061	236,578	243,438	226,009	263,698	256,271	227,109	210,194	215,795	244,739	224,029	220,350	247,009	254,416	242,223	244,350	297,842	268,164	263,347	246,604	283,062	310,817	261,652	211,709
Federal ESPC receivable
239,156	230,616	182,012	133,850	310,922	293,998	272,953	246,918	254,349	248,917	210,472	221,680	188,162	158,209	124,888	131,738	104,449	125,804	103,589	82,659	84,316	79,167	65,335	50,488	47,345	44,297	27,616	60,900	92,979	91,854	138,557	135,987	124,282	110,212	236,595	214,684	193,551
Property, Plant, And Equipment And Finance Lease Right-Of-Use Asset, After Accumulated Depreciation And Amortization
-	-	-	-	-	6,985	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment, net
9,952	10,104	10,469	7,871	7,073	-	6,649	6,255	5,817	5,303	4,830	4,699	4,452	5,018	5,637	5,921	5,059	5,328	5,947	6,361	6,814	7,372	7,855	8,213	8,254	8,699	9,362	9,422	9,735	9,387	9,245	8,185	7,695	7,086	6,684	6,170	5,406
Energy assets, net
596,492	579,461	507,759	492,681	476,582	459,952	442,018	404,888	381,724	356,443	357,155	348,472	339,930	319,758	279,257	256,638	247,841	244,309	239,119	223,772	214,073	217,772	216,326	210,256	214,639	210,744	227,100	229,428	214,349	207,274	197,638	188,063	181,531	177,854	169,092	148,884	145,147
Deferred income taxes, net
2,470	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	-	-	-	-	-	-	3,570	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred financing fees, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,323	4,922	4,866	4,313	4,594	5,102	5,301	5,320	5,554	6,103	5,943	5,746	2,812	2,743	2,881	2,994	3,722	3,750	3,412
Goodwill
57,741	58,414	57,899	58,129	58,835	58,332	58,853	57,268	56,294	56,135	56,107	55,779	55,439	57,976	58,361	58,615	59,092	59,085	59,371	59,883	59,402	60,479	61,116	56,460	53,659	53,074	55,615	55,239	50,379	48,968	50,317	47,878	47,922	47,881	41,907	20,580	20,580
Intangible assets, net
1,408	1,614	1,810	2,052	2,310	2,004	2,315	2,414	2,231	2,440	2,801	3,113	3,373	3,931	4,615	5,282	6,085	6,770	7,983	9,197	9,920	11,238	13,014	9,852	8,483	10,253	10,236	11,490	9,423	9,742	10,390	9,756	11,071	12,727	13,221	-	0
Operating lease assets
32,444	32,791	32,540	32,051	30,350	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
35,828	35,821	36,786	34,579	32,273	29,394	30,706	31,927	28,377	27,635	27,065	25,204	24,611	26,328	24,758	22,791	21,643	18,446	17,178	23,194	23,052	25,727	21,386	22,583	23,066	26,907	7,255	5,140	3,731	4,654	4,573	4,712	3,989	3,778	6,390	4,854	4,598
Total Non Current Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	342,740	377,725	386,542	-	413,535	397,328	379,374	362,535	477,615	398,926	372,697
Total assets
1,413,583	1,374,013	1,170,357	1,109,894	1,198,676	1,161,634	1,114,455	1,044,095	1,011,775	983,951	903,645	875,882	815,250	797,281	734,094	724,423	670,178	723,440	694,781	637,097	612,637	621,863	634,365	586,983	581,097	606,303	597,156	619,949	630,892	675,472	681,699	660,675	625,978	645,597	788,433	660,579	584,407
LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portions of long-term debt and financing lease liabilities (including amounts in VIEs of $2,252 and $1,712, respectively)
-	-	-	-	-	26,890	-	-	-	22,375	-	-	-	19,292	-	-	-	13,427	-	-	-	12,255	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current portions of long-term debt and financing lease liabilities
69,282	69,969	54,958	54,351	55,731	-	24,397	27,451	26,253	-	24,155	22,270	20,319	-	15,246	14,883	13,571	-	12,391	12,246	12,649	-	13,623	13,498	13,734	12,974	15,653	13,921	10,742	12,452	11,363	12,268	12,370	11,563	11,115	11,037	4,722
Accounts payable
182,354	202,416	133,833	117,188	102,432	134,330	119,969	115,805	100,085	135,881	122,731	102,529	89,577	126,583	125,014	112,968	91,042	114,759	112,384	79,275	63,646	87,787	79,787	73,748	65,598	79,509	77,333	67,318	66,404	101,007	79,153	80,896	71,419	93,506	116,278	77,777	95,302
Accrued expenses and other current liabilities
32,528	31,356	28,700	29,259	28,491	35,947	28,067	22,800	23,818	23,260	23,203	21,146	20,425	22,763	22,403	21,724	21,590	21,983	31,785	26,155	26,646	23,789	23,501	19,978	12,243	23,257	11,847	10,667	9,540	13,157	12,827	11,970	10,755	8,917	12,260	7,029	12,517
Current portions of operating lease liabilities
5,360	5,802	5,935	5,807	5,082	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Billings in excess of cost and estimated earnings
25,350	26,618	23,234	24,380	25,354	24,363	32,516	19,907	-	19,871	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Book overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	7,297	-	-	-
Book overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0
Billings in excess of cost and estimated earnings
-	-	-	-	-	-	-	-	22,462	-	17,772	21,494	18,145	21,189	18,723	22,259	25,880	28,744	25,492	23,930	22,736	18,291	18,968	15,639	13,723	16,933	14,532	22,525	23,200	22,271	28,246	35,223	27,947	26,982	31,345	27,452	27,555
Income taxes payable
1,205	486	0	138	1,196	1,100	-	-	-	755	-	-	-	775	-	-	-	810	-	-	-	812	-	-	-	615	-	-	-	0	-	-	-	-	-	-	-
Income taxes payable
-	-	-	-	-	-	6,348	1,298	564	-	2,849	603	699	-	631	718	834	-	920	0	573	-	0	0	0	-	-	-	-	-	-	-	-	-	802	981	2,488
Total current liabilities
316,079	336,647	246,660	231,123	218,286	222,630	211,297	187,261	173,182	202,142	190,710	168,042	149,165	190,602	182,017	172,552	152,917	179,723	182,972	141,606	126,250	142,934	135,879	122,863	105,298	133,288	119,367	114,433	109,887	148,888	131,591	140,359	122,493	148,267	171,801	124,278	142,587
Long-term debt and financing lease liabilities, net current portions and deferred financing fees
285,553	266,181	223,766	224,025	197,014	219,162	-	-	-	173,237	-	-	-	140,593	-	-	-	100,490	-	-	-	90,037	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term debt and capital lease liabilities, less current portions and net of deferred financing fees
-	-	-	-	-	-	226,252	221,274	218,398	-	178,142	172,732	173,322	-	113,596	104,770	91,180	-	83,240	90,566	88,154	-	108,449	91,741	107,476	103,222	150,492	186,354	197,670	109,079	223,977	207,831	197,284	196,401	325,905	263,426	202,409
Federal ESPC liabilities
276,177	245,037	196,584	163,856	321,954	288,047	262,484	238,617	244,341	235,088	188,422	197,729	163,704	133,003	108,039	121,633	99,259	122,040	106,401	85,426	80,769	70,875	64,833	45,923	47,820	44,297	-	-	-	92,843	-	-	-	-	-	-	-
Deferred income taxes, net
0	115	3,242	3,677	4,066	4,352	3,453	8,505	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred grant income
-	-	-	-	-	6,637	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred grant income
6,682	6,885	6,223	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes, net
-	-	-	-	-	-	6,774	-	0	584	2,855	3,074	4,236	9,037	2,417	1,311	1,962	6,143	4,524	5,277	5,940	2,569	15,267	16,180	14,707	10,875	22,677	23,273	25,593	24,888	29,526	29,443	29,402	29,953	24,125	16,344	12,013
Deferred grant income
-	-	-	6,361	6,499	-	-	6,912	7,050	7,188	7,326	7,464	7,602	7,739	7,877	8,015	8,153	8,291	8,429	8,567	8,704	8,842	8,980	9,118	8,041	8,163	7,736	7,864	7,892	7,590	6,694	5,853	5,938	6,024	6,109	6,194	4,200
Long-term portions of operating lease liabilities, net of current portion
29,104	29,101	28,799	28,308	27,305	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
35,872	29,575	30,989	30,179	28,474	29,212	25,404	18,496	17,784	18,754	16,666	16,340	15,129	15,154	21,127	21,492	21,090	18,854	21,981	20,350	22,051	20,300	19,760	29,322	29,574	29,652	27,737	26,001	28,380	30,362	30,860	28,640	28,138	28,529	29,673	30,991	28,144
Commitments and contingencies (Note 9)
-	-	-	-	-	-	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Redeemable non-controlling interests
31,939	31,616	32,108	32,037	13,341	14,719	14,585	12,322	10,751	10,338	7,532	7,297	5,685	6,847	6,797	6,765	6,722	490	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stockholders’ equity:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding at March 31, 2020 and December 31, 2019
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Additional paid-in capital
136,591	133,688	131,111	126,693	125,685	124,651	121,660	119,257	117,242	116,196	115,461	114,653	113,509	112,926	112,366	111,539	111,004	110,311	109,417	109,015	108,504	107,445	108,625	104,899	103,625	102,587	97,360	96,024	94,806	93,141	93,987	91,192	89,115	86,067	86,725	83,567	74,069
Retained earnings
320,660	314,459	292,256	283,386	274,170	269,806	258,213	247,080	238,378	235,844	212,033	203,540	197,709	194,353	193,217	187,502	185,508	182,321	183,458	179,280	177,289	181,477	172,823	165,532	162,813	171,094	178,010	173,464	175,245	177,169	174,780	168,009	162,840	158,809	153,088	140,729	126,609
Accumulated other comprehensive loss, net
-13,291	-7,514	-9,609	-8,118	-6,485	-5,949	-4,101	-4,063	-3,786	-5,626	-6,091	-6,338	-6,380	-6,591	-8,913	-9,212	-7,622	-5,228	-5,646	-2,995	-5,028	-2,620	-257	1,389	1,726	3,112	2,949	1,697	685	713	-612	-1,549	-129	657	182	4,225	3,551
Treasury stock, at cost, 2,101,795 shares at March 31, 2020 and 2,101,340 shares at December 31, 2019
11,788	11,782	11,777	11,638	11,638	11,638	11,571	11,571	11,570	9,799	9,416	8,656	8,436	6,387	4,451	1,949	-	0	-	-	-	-	-	-	-	-	9,182	9,182	9,182	9,182	9,182	9,182	-9,182	9,182	-9,182	-9,182	-9,182
Total stockholders’ equity
432,177	428,856	401,986	390,328	381,737	-	364,206	350,708	340,269	336,620	311,992	303,204	296,407	294,306	292,224	287,885	288,895	287,409	287,234	285,305	280,769	286,306	281,197	271,836	268,181	276,806	269,145	262,021	261,467	261,819	259,049	248,546	242,720	236,421	230,817	219,344	195,051
Non-controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-1	-1	1	11	12	8	3	13	-92	-27	71	71	71	63	-	-	0
Total stockholder’s equity
-	-	-	-	-	376,875	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	286,307	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities, redeemable non-controlling interests and stockholders’ equity
1,413,583	1,374,013	1,170,357	1,109,894	1,198,676	1,161,634	1,114,455	1,044,095	1,011,775	983,951	903,645	875,882	815,250	797,281	734,094	724,423	670,178	723,440	694,781	637,097	612,637	621,863	634,365	586,983	581,097	606,303	597,156	619,949	630,892	675,472	681,699	660,675	625,978	645,597	788,433	660,579	584,407
Total Liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	208,643	243,493	259,537	-	291,058	271,769	-	260,908	-	-	-
Non-recourse liabilities of consolidated VIE
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	260,764	-	385,814	316,956	246,768
Variable Interest Entity, Primary Beneficiary
Costs and estimated earnings in excess of billings
-	-	758	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other current assets
-	-	190	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current assets
8,272	7,017	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property, Plant and Equipment, Other, Net
-	-	123,092	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Lease, Right-of-Use Asset
-	-	6,124	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-	-	1,624	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total assets
163,019	158,912	136,213	134,848	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-	-	169	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued expenses and other current liabilities
-	-	3,672	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Lease, Liability, Current
-	-	84	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current liabilities
6,633	6,563	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term Debt and Lease Obligation
-	-	26,104	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Lease, Liability, Noncurrent
-	-	6,271	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-	-	1,336	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-recourse liabilities of consolidated VIE
-	-	39,548	40,217	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Class A
Common stock
3	3	3	3	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Class B
Common stock
2	2	2	2	2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Class A Common Stock
Common stock
-	-	-	-	-	3	-	-	-	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Class B Common Stock
Common stock
-	-	-	-	-	2	-	-	-	2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-