Ameresco, Inc. AMRC Cash Flow

Ameresco, inc. (AMRC)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Cash flows from operating activities:
Net income
40,301	37,577	33,508	11,997	-4,684	-	-	-	-	-	19,907
Net income
-	-	-	-	-	10,383	2,414	18,360	33,412	27,513	-
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation of energy assets
35,543	27,305	21,648	19,377	16,911	15,047	12,595	11,229	9,701	9,634	-
Depreciation of property and equipment
2,987	2,167	2,394	3,020	3,263	3,044	3,078	2,829	2,554	-	-
Depreciation of energy assets
-	-	-	-	-	-	-	-	-	-	5,260
Depreciation of property and equipment
-	-	-	-	-	-	-	-	-	1,784	1,372
Amortization of debt discount and deferred financing fees
2,229	2,193	1,620	1,503	1,139	1,353	1,091	456	1,061	566	254
Amortization of intangible assets
909	1,057	1,451	2,358	4,150	4,738	4,802	5,282	1,752	0	0
Accretion of ARO and contingent consideration
137	0	0	-	-	-	-	-	-	-	-
Provision for bad debts
-216	610	77	5,392	4,102	1,988	502	-	-	-	-
Gain on contingent liability
-	-	-	-	-	-	-1,075	0	0	-	-
Loss on disposal / sale of assets
2,160	-298	103	0	17	0	632	800	514	0	691
Impairment of goodwill
-	-	-	-	-	-	-	1,016	0	0	-
Provision for bad debts
-	-	-	-	-	-	-	149	24	126	552
Write-down of long-term receivable
-	-	-	-	-	-	-	-	-	2,111	0
Net gain from derivatives
1,068	121	271	279	368	1,418	1,459	-98	-1,313	-1,346	2,263
Stock-based compensation expense
1,620	1,258	1,293	1,462	1,769	2,493	2,799	3,351	2,865	2,498	3,168
Deferred income taxes
-3,346	5,517	-4,527	2,867	4,086	-2,749	-15,261	-3,850	19,842	-253	-
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	3,400
Excess tax benefits from stock-based compensation arrangements
-	-	-	99	-50	918	5,264	260	2,725	2,010	0
Unrealized foreign exchange loss
130	-1,816	1,406	-167	-2,083	-1,054	-93	-	-	-	-
Changes in operating assets and liabilities:
Changes in operating assets and liabilities:
Restricted cash
-	-	-	-	-3,108	-300	1,526	11,089	428	-151,022	-33,051
Accounts receivable
8,499	-9,772	-1,870	12,002	4,472	-8,611	-1,391	-25,624	22,861	305	11,033
Accounts receivable retainage
3,370	-3,774	-1,279	-3,875	3,825	-3,289	-5,246	-3,055	7,786	8,319	-5,029
Federal ESPC receivable
188,060	155,539	157,538	116,753	73,243	59,457	40,998	28,651	99,781	160,455	52,900
Inventory, net
1,471	-373	-3,966	-1,118	4,327	-1,308	94	859	1,808	2,542	-3,222
Costs and estimated earnings in excess of billings
106,696	-8,015	46,730	-31,170	22,904	-4,587	8,740	-7,225	22,452	19,311	3,651
Prepaid expenses and other current assets
18,397	-6,763	2,471	98	3,369	-5,526	-371	447	542	321	1,591
Project development costs
8,120	-8,659	-3,007	4,162	-4,581	482	-652	-3,010	1,816	925	1,987
Other assets
-1,056	3,499	-111	509	4,083	1,907	14,001	791	-569	-5,975	-3,846
Accounts payable, accrued expenses and other current liabilities
43,531	2,938	19,652	-2,798	26,273	9,496	-13,281	10,679	-13,480	3,925	27,280
Billings in excess of cost and estimated earnings
2,662	2,866	-2,168	-6,974	-	-	-	-	-	-	-
Other liabilities
-1,625	-783	-540	-	-	-	-	-	-	-	-
Billings in excess of cost and estimated earnings
-	-	-	-	10,674	811	-4,310	-4,943	-452	-1,258	6,819
Other liabilities
-	-	-	-3,578	-2,444	-7,414	5,370	2,978	-3,537	8,476	8
Income taxes payable, net
-350	1,101	-5,678	1,988	1,171	661	7,025	4,578	-7,311	-280	2,264
Cash flows from operating activities
-196,293	-53,201	-135,570	-52,634	-49,538	1,308	-60,516	42,209	-108,767	20,849	45,296
Cash flows from investing activities:
Purchases of property and equipment
6,674	3,943	2,851	2,807	1,343	1,745	2,331	5,061	3,449	2,613	1,797
Purchases of energy assets
133,954	125,673	85,559	-	-	-	-	-	-	-	-
Purchases of energy assets
-	-	-	73,234	51,340	26,679	24,541	47,191	48,457	37,825	32,706
Proceeds from sale of assets of a business
0	0	2,777	0	0	-	-	-	-	-	-
Grant awards and rebates received on project assets
-	-	-	-	-	3,727	3,262	7,311	6,695	812	-
Proceeds from sales of assets
-	-	-	-	854	0	3,511	0	7,800	0	0
Acquisitions, net of cash received
1,294	3,590	2,409	3,575	0	13,903	9,838	4,012	66,232	6,303	674
Contributions to equity investment
301	0	0	-	-	-	-	-	-	-	-
Additional purchase price paid on 2010 acquisition (Note 3)
-	-	-	-	-	-	-	-	1,956	0	-
Grants awards received on project assets
-	-	-	-	-	-	-	-	-	-	-12,864
Additional purchase price paid on 2010 acquisition (Note 3)
-	-	-	-	-	-	-	-	-	-	0
Cash flows from investing activities
-142,223	-133,206	-88,042	-79,616	-51,829	-38,600	-29,937	-48,953	-105,601	-45,929	-22,313
Cash flows from financing activities:
Excess tax benefits from stock-based compensation arrangements
-	-	-	99	-50	918	5,264	260	2,725	2,010	0
Book overdraft
-	-	-	-	-	-	-	-7,297	7,297	0	-
Book overdraft
-	-	-	-	-	-	-	-	-	-	0
Payments of financing fees
1,666	4,073	2,877	1,908	2,748	374	511	3,208	644	1,373	2,804
Proceeds from exercises of options and ESPP
7,417	7,197	1,977	1,054	1,153	1,447	2,073	3,463	6,407	-	-
Proceeds from exercises of options, warrants and issuance of stock
-	-	-	-	-	-	-	-	-	-60,073	-
Proceeds from exercises of options and warrants, and issuance of stock
-	-	-	-	-	-	-	-	-	-	874
Repurchase of common stock
144	1,839	3,412	6,387	0	0	-	-	-	768	874
Proceeds (payments) from senior secured credit facility, net
73,347	-900	12,547	3,822	6,300	5,000	0	-9,286	42,142	-	-
Proceeds from senior secured credit facility, net
-	-	-	-	-	-	-	-	-	-19,915	-14,578
Proceeds from long-term debt financings
43,883	88,115	48,483	38,004	17,747	0	9,434	37,713	12,981	747	28,196
Proceeds from Federal ESPC projects
199,358	158,237	165,013	-	-	-	-	-	-	-	-
Proceeds from Federal ESPC projects
-	-	-	90,039	77,971	51,165	40,010	30,203	133,776	-	-
Proceeds for energy assets from Federal ESPC
2,277	4,236	3,993	0	0	-	-	-	-	-	-
Proceeds from sale-leaseback financings
0	5,145	51,204	-	-	-	-	-	-	-	-
Proceeds from sale-leaseback financings
-	-	-	17,045	12,506	0	0	-	-	-	-
Distributions to redeemable non-controlling interests, net
-	-	-	-	-116	-9	35	-	-	-	-
Contributions from redeemable non-controlling interests, net
21,372	4,788	7,473	6,392	6,018	0	0	-91	63	0	-
Minority interest
-	-	-	-	-	-	-	-	-	-	0
Restricted cash
-	-	-	-	-5,684	3,021	1,554	-2,684	-2,686	-6,298	-3,092
Repayment of subordinated debt
-	-	-	-	-	-	-	-	-	2,998	0
Payments on long-term debt
28,425	36,395	54,164	14,014	12,392	18,392	14,669	5,587	5,074	10,970	3,592
Cash flows from financing activities
317,419	224,511	230,237	134,146	100,705	42,776	43,190	43,486	196,989	20,504	4,128
Effect of exchange rate changes on cash
-	-	-	-422	-1,455	1,107	1,086	328	-1,034	1,338	2,667
Net increase in cash and cash equivalents
-	-	-	1,474	-2,117	6,591	-46,177	37,070	-18,413	-3,236	29,778
Effect of exchange rate changes on cash
447	-295	654	-	-	-	-	-	-	-	-
Net increase (decrease) in cash, cash equivalents, and restricted cash
-20,650	37,809	7,279	-	-	-	-	-	-	-	-
Supplemental disclosures of cash flow information:
Cash paid for interest
17,467	15,563	11,675	7,220	-	-	-	-	-	-	-
Cash paid for interest
-	-	-	-	5,537	6,583	7,185	6,171	-	-	2,904
Cash paid for income taxes
3,897	2,257	5,782	3,475	1,437	3,125	3,831	1,562	-	-	2,145
Non-cash Federal ESPC settlement
242,519	101,557	66,921	79,075	26,606	24,587	88,556	47,008	-	-	-
Accrued purchases of energy assets
34,871	15,005	7,335	19,506	5,065	3,229	2,080	3,385	-	-	-
Conversion of revolver to term loan
25,000	25,000	0	0	-	-	-	-	-	-	-
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect [Abstract]