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Revenue from Contracts with Customers | 3 Months Ended
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Mar. 31, 2021
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue Our reportable segments for the three months ended March 31, 2021 are U.S. Regions, U.S. Federal, Canada and Non-Solar Distributed Generation (“Non-Solar DG”). We changed the structure of our internal organization and our U.S. Regions segment now includes our U.S.-based enterprise energy management services previously included in our “All Other” segment. As a result, previously reported amounts have been restated for comparative purposes. The following table presents our revenue disaggregated by line of business and reportable segment for the three months ended March 31, 2021:
| U.S. Regions |  | U.S. Federal |  | Canada |  | Non-Solar DG |  | All Other |  | Total
Project revenue | $ | 71,158 |  |  | $ | 90,089 |  |  | $ | 9,001 |  |  | $ | 4,654 |  |  | $ | 5,791 |  |  | $ | 180,693 |
O&M revenue | 4,310 |  |  | 11,440 |  |  | 26 |  |  | 2,637 |  |  | 71 |  |  | 18,484 |
Energy assets | 8,810 |  |  | 664 |  |  | 747 |  |  | 22,931 |  |  | 135 |  |  | 33,287 |
Integrated-PV | — |  |  | — |  |  | — |  |  | — |  |  | 9,154 |  |  | 9,154 |
Other | 995 |  |  | 21 |  |  | 1,869 |  |  | 146 |  |  | 7,553 |  |  | 10,584 |
Total revenues | $ | 85,273 |  |  | $ | 102,214 |  |  | $ | 11,643 |  |  | $ | 30,368 |  |  | $ | 22,704 |  |  | $ | 252,202 |
The following table presents our revenue disaggregated by line of business and reportable segment for the three months ended March 31, 2020:
| U.S. Regions |  | U.S. Federal |  | Canada |  | Non-Solar DG |  | All Other |  | Total
Project revenue | $ | 71,493 |  |  | $ | 56,114 |  |  | $ | 8,864 |  |  | $ | 2,371 |  |  | $ | 5,587 |  |  | $ | 144,429 |
O&M revenue | 4,352 |  |  | 11,626 |  |  | 9 |  |  | 2,015 |  |  | 60 |  |  | 18,062 |
Energy assets | 8,854 |  |  | 719 |  |  | 663 |  |  | 17,986 |  |  | — |  |  | 28,222 |
Integrated-PV | — |  |  | — |  |  | — |  |  | — |  |  | 11,469 |  |  | 11,469 |
Other | 1,141 |  |  | 286 |  |  | 1,856 |  |  | 352 |  |  | 6,596 |  |  | 10,231 |
Total revenues | $ | 85,840 |  |  | $ | 68,745 |  |  | $ | 11,392 |  |  | $ | 22,724 |  |  | $ | 23,712 |  |  | $ | 212,413 |
For the three months ended March 31, 2021 and 2020, approximately 94% and 91%, respectively, of revenue is recognized over time, and the remainder is for products and services transferred at a point in time. We attribute revenues to customers based on the location of the customer. The following table presents information related to our revenues by geographic area:
| Three Months Ended March 31, |  |
| 2021 |  | 2020 |  |  |  |
United States | $ | 234,009 |  |  | $ | 195,939 |  |  |  |  |
Canada | 10,853 |  |  | 10,553 |  |  |  |  |
Other | 7,340 |  |  | 5,921 |  |  |  |  |
Total revenues | $ | 252,202 |  |  | $ | 212,413 |  |  |  |  |
Contract Balances The following tables provide information about receivables, contract assets and contract liabilities from contracts with customers:
|  | March 31, 2021 |  | December 31, 2020
Accounts receivable, net |  | $ | 113,095 |  |  | $ | 125,010 |
Accounts receivable retainage, net |  | $ | 32,071 |  |  | $ | 30,189 |
Contract Assets: |  |  |  |
Costs and estimated earnings in excess of billings |  | $ | 179,474 |  |  | $ | 185,960 |
Contract Liabilities: |  |  |  |
Billings in excess of cost and estimated earnings |  | $ | 30,211 |  |  | $ | 33,984 |
Billings in excess of cost and estimated earnings, non-current (1) |  | 6,590 |  |  | 6,631 |
Total contract liabilities |  | $ | 36,801 |  |  | $ | 40,615 |
| March 31, 2020 |  | December 31, 2019
Accounts receivable, net | $ | 110,742 |  |  | $ | 95,863 |
Accounts receivable retainage, net | $ | 21,265 |  |  | $ | 16,976 |
Contract Assets: |  |  |
Costs and estimated earnings in excess of billings | $ | 189,566 |  |  | $ | 202,243 |
Contract Liabilities: |  |  |
Billings in excess of cost and estimated earnings | $ | 25,350 |  |  | $ | 26,618 |
Billings in excess of cost and estimated earnings, non-current (1) | 5,320 |  |  | 5,560 |
Total contract liabilities | $ | 30,670 |  |  | $ | 32,178 |
(1) Performance obligations are expected to be completed beyond the next twelve months and are included in other liabilities in the condensed consolidated balance sheets.
The decrease in contract assets for the three months ended March 31, 2021 was primarily due to billings of $144,539, offset in part by revenue recognized of approximately $130,297. The decrease in contract liabilities was primarily driven by recognition of revenue as performance obligations were satisfied exceeding increases from the receipt of advance payment from customers, and related billings. For the three months ended March 31, 2021, we recognized revenue of $45,483 that was previously included in the beginning balance of contract liabilities and billed customers $33,081. Changes in contract liabilities are also driven by reclassifications to or from contract assets as a result of timing of customer payments. The decrease in contract assets for the three months ended March 31, 2020 was primarily due to billings of approximately $151,885, partially offset by revenue recognized of $137,220. The decrease in contract liabilities was primarily driven by recognition of revenue as performance obligations were satisfied exceeding increases from the receipt of advance payment from customers, and related billings. For the three months ended March 31, 2020, we recognized revenue of $19,928 that was previously included in the beginning balance of contract liabilities, and billed customers $16,377. Changes in contract liabilities are also driven by reclassifications to or from contract assets as a result of timing of customer payments. Performance Obligations Our remaining performance obligations (“backlog”) represent the unrecognized revenue value of our contract commitments. At March 31, 2021, we had backlog of $1,914,710 of which approximately 35% is anticipated to be recognized as revenue in the next twelve months. The remaining performance obligations primarily relate to the energy efficiency and renewable energy construction projects, including long-term O&M services related to these projects. The long-term services have varying initial contract terms, up to 25 years. Project Development Costs Project development costs of $1,559 and $1,543 were included in other long-term assets in the accompanying condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020, respectively. Project development costs of $1,985 and $1,635 were recognized in the condensed consolidated statements of income on projects that converted to customer contracts during the three months ended March 31, 2021 and 2020, respectively. No impairment charges in connection with our capitalized commission costs or project development costs were recorded during the three months ended March 31, 2021 and 2020.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
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