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Table of Contents
<br />AMERESCO, INC.
<br />NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
<br />(In thousands, except per share amounts)
<br />3. REVENUE FROM CONTRACTS WITH CUSTOMERS
<br />Disaggregation of Revenue
<br />Our reportable segments for the year ended December 31, 2023 were U.S. Regions, U.S. Federal, Canada, Alternative Fuels, and Europe. The remaining amounts are included in
<br />"All Other". Europe was formerly included in "All Other" but was disaggregated due to growth in the segment in 2023. As a result, previously reported amounts have been
<br />reclassified for comparative purposes.
<br />The following table presents our revenue disaggregated by line of business and reportable segment for the year ended December 31, 2023
<br />U.S. Regions
<br />U.S. Federal
<br />Canada
<br />Alternative Fuels
<br />Europe
<br />All Other
<br />Total
<br />Project revenue
<br />$ 465,342
<br />$ 342,238 $
<br />53,737
<br />$ - $
<br />138,730 $
<br />1,250 $
<br />1,001,297
<br />O&M revenue
<br />26,210
<br />53,496
<br />100
<br />10,697
<br />1,980
<br />-
<br />92,483
<br />Energy assets
<br />60,450
<br />6,326
<br />4,223
<br />106,359
<br />1,531
<br />-
<br />178,889
<br />Integrated-PV
<br />4
<br />45,739
<br />45,743
<br />Other
<br />5,116
<br />824
<br />12,050
<br />19
<br />10,601
<br />27,611
<br />56,221
<br />Total revenues
<br />$ 557,122
<br />$ 402,884 $
<br />70,110
<br />$ 117,075 $
<br />152,842 $
<br />74,600 $
<br />1,374,633
<br />The following table presents our revenue disaggregated by line of business and reportable segment for the year ended December 31, 2022
<br />U.S. Regions
<br />U.S. Federal
<br />Canada
<br />Alternative Fuels
<br />Europe
<br />All Other
<br />Total
<br />Project revenue $
<br />1,049,465
<br />$ 333,846 $
<br />44,273
<br />$ - $
<br />53,680
<br />$ -
<br />$
<br />1,481,264
<br />O&M revenue
<br />22,217
<br />51,857
<br />42
<br />10,377
<br />471
<br />1
<br />84,965
<br />Energy assets
<br />47,372
<br />5,822
<br />4,447
<br />104,082
<br />368
<br />-
<br />162,091
<br />Integrated-PV
<br />49,696
<br />49,696
<br />Other
<br />4,289
<br />366
<br />9,796
<br />-
<br />7,126
<br />24,829
<br />46,406
<br />Total revenues $
<br />1,123,343
<br />$ 391,891 $
<br />58,558
<br />$ 114,459 $
<br />61,645
<br />$ 74,526
<br />$
<br />1,824,422
<br />The following table presents our revenue disaggregated by line
<br />of business and reportable segment
<br />for the year ended December 31, 2021:
<br />U.S. Regions
<br />U.S. Federal
<br />Canada
<br />Alternative Fuels
<br />Europe
<br />All Other
<br />Total
<br />Project revenue $
<br />488,507
<br />$ 340,686 $
<br />36,776
<br />$ - $
<br />37,970
<br />$ 21
<br />$
<br />903,960
<br />O&M revenue
<br />21,551
<br />47,072
<br />71
<br />9,288
<br />631
<br />-
<br />78,613
<br />Energy assets
<br />39,433
<br />4,913
<br />4,532
<br />101,811
<br />562
<br />-
<br />151,251
<br />Integrated-PV
<br />41,202
<br />41,202
<br />Other
<br />1,627
<br />277
<br />8,104
<br />124
<br />7,001
<br />23,538
<br />40,671
<br />Total revenues $
<br />551,118
<br />$ 392,948 $
<br />49,483
<br />$ 111,223 $
<br />46,164
<br />$ 64,761
<br />$
<br />1,215,697
<br />See Note 16 for our revenue disaggregated by geographical
<br />region.
<br />The following table presents information related to our revenue recognized over time:
<br />Year Ended December 31,
<br />2023
<br />2022
<br />2021
<br />Percentage of revenue recognized over time
<br />95 %
<br />96 %
<br />95 %
<br />The remainder of our revenue is for products and services transferred at a point in time, at which point revenue is recognized.
<br />67
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