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Basis of Presentation | 3 Months Ended
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Mar. 31, 2022
Basis of Presentation |
Basis of Presentation | Note 2—Basis of Presentation ​ Interim condensed consolidated financial statements — The interim condensed consolidated financial statements for the three months ended March 31, 2022 and 2021 have been prepared in accordance with Rule 10-01 of Regulation S-X of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). As such, certain disclosures, which would substantially duplicate the disclosures contained in our Annual Report on Form 10-K, filed on February 28, 2022, which contains our audited consolidated financial statements for the year ended December 31, 2021, have been omitted. ​ This Form 10-Q should be read in conjunction with our most recent Annual Report on Form 10-K. The interim financial information is unaudited. In the opinion of management, the interim information includes all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the interim financial information. ​ Reclassification — Certain previously reported amounts have been reclassified to conform to the current period presentation. ​ Restricted cash — Restricted cash consists primarily of contract retention payments made by customers into escrow bank accounts and are included in prepaid expenses and other current assets in our Condensed Consolidated Balance Sheets. Escrow cash accounts are released to us by customers as projects are completed in accordance with contract terms. The following tables provide a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets to the totals of such amounts shown in the Condensed Consolidated Statements of Cash Flows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31,
​ |  | 2022 |  | 2021
Cash and cash equivalents | ​ | $ | 173,505 | ​ | $ | 212,770
Restricted cash included in prepaid expense and other current assets | ​ | ​ | 5,117 | ​ | ​ | 4,690
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | ​ | $ | 178,622 | ​ | $ | 217,460
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​
​ | ​ | December 31,
​ |  | 2021 |  | 2020
Cash and cash equivalents | ​ | $ | 200,512 | ​ | $ | 326,744
Restricted cash included in prepaid expense and other current assets | ​ | ​ | 5,131 | ​ | ​ | 4,231
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | ​ | $ | 205,643 | ​ | $ | 330,975
​ Depreciation — Effective January 1, 2022, we changed our estimates of the useful lives of certain equipment to better reflect the estimated periods during which these assets will remain in service. The estimated useful lives of equipment that previously ranged three to seven years were increased to a range of three to ten years. The effect of this change in estimate reduced depreciation expense by $5.8 million, decreased net loss by $4.2 million, and decreased basic and diluted loss per share by $0.08 for the three months ended March 31, 2022. ​ Customer concentration — We operate in multiple industry segments encompassing the construction of commercial, industrial and public works infrastructure assets primarily throughout the United States. Typically, the top ten customers in any one calendar year generate revenue that is approximately 40% to 50% of total revenue; however, the companies that comprise the top ten vary from year to year. ​ For each of the three months ended March 31, 2022 and 2021, approximately 45.4% of total revenue was generated from our top ten customers. For the three months ended March 31, 2022 one solar energy customer represented approximately 10.1% of total revenue and for the three months ended March 31, 2021, no single customer accounted for more than 10% of total revenue.

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- Definition The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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