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Table of Contents
<br />AMERESCO, INC.
<br />CONSOLIDATED STATEMENTS OF CHANGES IN REDEEMABLE NON -CONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY
<br />(In thousands, except share amounts)
<br />Redeemable
<br />Non-
<br />Accumulated
<br />Non -
<br />controlling
<br />Class A Common
<br />Stock
<br />Class B Common Stock
<br />Additional
<br />Treasury Stock
<br />Other
<br />controlling
<br />Total
<br />Interests
<br />Paid -in
<br />Retained
<br />Comprehensive
<br />Interest
<br />Stockholders'
<br />("RNCI")
<br />Shares
<br />Amount
<br />Shares Amount
<br />Capital
<br />Earnings
<br />Shares Amount
<br />Loss
<br />("NCI")
<br />Equity
<br />Balance, December 31, 2020
<br />$ 38,850
<br />30,224,654
<br />$ 3
<br />18,000,000 $ 2
<br />145,496
<br />$ 368,390
<br />2,101,795 $ (11,788)
<br />$ (9,290)
<br />$ -
<br />$ 492,813
<br />Equity offering of common stock, net of
<br />offering costs of $6,416
<br />-
<br />2,875,000
<br />-
<br />- -
<br />120,084
<br />-
<br />- -
<br />-
<br />-
<br />120,084
<br />Exercise of stock options
<br />587,775
<br />-
<br />5,563
<br />-
<br />5,563
<br />Stock -based compensation expense
<br />-
<br />-
<br />-
<br />- -
<br />8,716
<br />-
<br />- -
<br />-
<br />-
<br />8,716
<br />Employee stock purchase plan
<br />28,880
<br />-
<br />1,364
<br />-
<br />1,364
<br />Unrealized gain from interest rate hedges, net
<br />-
<br />-
<br />-
<br />- -
<br />-
<br />-
<br />- -
<br />2,793
<br />-
<br />2,793
<br />Foreign currency translation adjustment
<br />(170)
<br />(170)
<br />Contributions from RNCI, net of tax equity
<br />financing fees
<br />2,251
<br />Distributions to RNCI
<br />(1,009)
<br />Accretion oftax equity financing fees
<br />116
<br />(116)
<br />(116)
<br />Investment fund call option exercise
<br />(3,759)
<br />-
<br />-
<br />- -
<br />2,759
<br />-
<br />- -
<br />-
<br />-
<br />2,759
<br />Net income
<br />9,733
<br />-
<br />-
<br />70,458
<br />70,458
<br />Balance, December 31, 2021
<br />46,182
<br />33,716,309
<br />3
<br />18,000,000 2
<br />283,982
<br />438,732
<br />2,101,795 (11,788)
<br />(6,667)
<br />704,264
<br />Exercise of stock options
<br />-
<br />195,888
<br />-
<br />- -
<br />3,954
<br />-
<br />- -
<br />-
<br />-
<br />3,954
<br />Stock -based compensation expense
<br />-
<br />-
<br />15,046
<br />-
<br />15,046
<br />Employee stock purchase plan
<br />-
<br />36,165
<br />-
<br />- -
<br />2,009
<br />-
<br />- -
<br />-
<br />-
<br />2,009
<br />Unrealized gain from interest rate hedges, net
<br />-
<br />-
<br />-
<br />6,017
<br />6,017
<br />Foreign currency translation adjustment
<br />-
<br />-
<br />-
<br />- -
<br />-
<br />-
<br />- -
<br />(3,401)
<br />-
<br />(3,401)
<br />Distributions to RNCI
<br />(1,039)
<br />Accretion oftax equity financing fees
<br />109
<br />-
<br />-
<br />- -
<br />-
<br />(109)
<br />- -
<br />-
<br />-
<br />(109)
<br />Investment fund call option exercise
<br />(2,162)
<br />1,323
<br />1,323
<br />Contributions from NCI
<br />48,912
<br />48,912
<br />Net income
<br />3,533
<br />-
<br />-
<br />94,926
<br />90
<br />95,016
<br />Balance, December 31, 2022
<br />46,623
<br />33,948,362
<br />3
<br />18,000,000 2
<br />306,314
<br />533,549
<br />2,101,795 (11,788)
<br />(4,051)
<br />49,002
<br />873,031
<br />Exercise of stock options
<br />-
<br />246,250
<br />-
<br />- -
<br />2,438
<br />-
<br />- -
<br />-
<br />-
<br />2,438
<br />Stock -based compensation expense
<br />-
<br />-
<br />10,318
<br />-
<br />10,318
<br />Employee stock purchase plan
<br />-
<br />60,003
<br />-
<br />- -
<br />2,017
<br />-
<br />- -
<br />-
<br />-
<br />2,017
<br />Restricted stock units released
<br />22,580
<br />Unrealized loss from interest rate hedges, net
<br />-
<br />-
<br />-
<br />- -
<br />-
<br />-
<br />- -
<br />(538)
<br />-
<br />(538)
<br />Foreign currency translation adjustment
<br />1,544
<br />30
<br />1,574
<br />Distributions to RNCI
<br />(632)
<br />Accretion oftax equity financing fees
<br />108
<br />(108)
<br />(108)
<br />Adjustment to investment fund call option
<br />exercise
<br />195
<br />(195)
<br />(195)
<br />Contributions from NCI
<br />4,203
<br />4,203
<br />Distributions to NCI
<br />(30,187)
<br />(30,187)
<br />Net income
<br />571
<br />62,470
<br />863
<br />63,333
<br />Balance, December 31, 2023
<br />$ 46,865
<br />34,277,195
<br />$ 3
<br />18,000,000 $ 2
<br />$ 320,892
<br />$ 595,911
<br />2,101,795 $ (11,788)
<br />$ (3,045)
<br />$ 23,911
<br />$ 925,886
<br />See accompanying notes to consolidated financial statements
<br />50
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