XML 21 R12.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Revenue from Contracts with Customers | 9 Months Ended
--- | ---
Sep. 30, 2022
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 and nine months ended September 30, 2022 were U.S. Regions, U.S. Federal, Canada, Alternative Fuels (formerly Non-Solar Distributed Generation (“Non-Solar DG”)) and All Other. On January 1, 2022, we changed the structure of our internal organization and our “All Other” segment now includes our U.S.-based enterprise energy management services previously included in our U.S Regions segment and our U.S. Regions segment now includes U.S. project revenue and associated costs previously included in our former Non-Solar DG segment. As a result, previously reported amounts have been reclassified for comparative purposes. The following table presents our revenue disaggregated by line of business and reportable segment for the three months ended September 30, 2022:
| U.S. Regions |  | U.S. Federal |  | Canada |  | Alternative Fuels |  | All Other |  | Total
Project revenue | $ | 251,338 |  |  | $ | 83,878 |  |  | $ | 8,788 |  |  | $ | — |  |  | $ | 7,527 |  |  | $ | 351,531 |
O&M revenue | 5,936 |  |  | 13,524 |  |  | 10 |  |  | 2,251 |  |  | 133 |  |  | 21,854 |
Energy assets | 11,892 |  |  | 1,570 |  |  | 1,264 |  |  | 26,956 |  |  | — |  |  | 41,682 |
Integrated-PV | — |  |  | — |  |  | — |  |  | — |  |  | 13,616 |  |  | 13,616 |
Other | 2,040 |  |  | 152 |  |  | 2,304 |  |  | 214 |  |  | 7,903 |  |  | 12,613 |
Total revenues | $ | 271,206 |  |  | $ | 99,124 |  |  | $ | 12,366 |  |  | $ | 29,421 |  |  | $ | 29,179 |  |  | $ | 441,296 |
The following table presents our revenue disaggregated by line of business and reportable segment for the three months ended September 30, 2021:
| U.S. Regions |  | U.S. Federal |  | Canada |  | Alternative Fuels |  | All Other |  | Total
Project revenue | $ | 91,366 |  |  | $ | 82,967 |  |  | $ | 8,339 |  |  | $ | — |  |  | $ | 11,344 |  |  | $ | 194,016 |
O&M revenue | $ | 5,957 |  |  | $ | 11,787 |  |  | $ | — |  |  | $ | 2,167 |  |  | $ | 93 |  |  | 20,004 |
Energy assets | $ | 9,796 |  |  | $ | 1,804 |  |  | $ | 1,409 |  |  | $ | 26,070 |  |  | $ | 155 |  |  | 39,234 |
Integrated-PV | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 10,439 |  |  | 10,439 |
Other | $ | 592 |  |  | $ | 98 |  |  | $ | 1,910 |  |  | $ | 1 |  |  | $ | 7,388 |  |  | 9,989 |
Total revenues | $ | 107,711 |  |  | $ | 96,656 |  |  | $ | 11,658 |  |  | $ | 28,238 |  |  | $ | 29,419 |  |  | $ | 273,682 |
The following table presents our revenue disaggregated by line of business and reportable segment for the nine months ended September 30, 2022:
| U.S. Regions |  | U.S. Federal |  | Canada |  | Alternative Fuels |  | All Other |  | Total
Project revenue | $ | 928,616 |  |  | $ | 231,945 |  |  | $ | 32,899 |  |  | $ | — |  |  | $ | 40,595 |  |  | $ | 1,234,055 |
O&M revenue | 16,473 |  |  | 39,186 |  |  | 32 |  |  | 7,361 |  |  | 319 |  |  | 63,371 |
Energy assets | 34,163 |  |  | 4,734 |  |  | 3,512 |  |  | 80,513 |  |  | 111 |  |  | 123,033 |
Integrated-PV | — |  |  | — |  |  | — |  |  | — |  |  | 37,239 |  |  | 37,239 |
Other | 3,859 |  |  | 333 |  |  | 7,556 |  |  | — |  |  | 23,249 |  |  | 34,997 |
Total revenues | $ | 983,111 |  |  | $ | 276,198 |  |  | $ | 43,999 |  |  | $ | 87,874 |  |  | $ | 101,513 |  |  | $ | 1,492,695 |
The following table presents our revenue disaggregated by line of business and reportable segment for the nine months ended September 30, 2021:
| U.S. Regions |  | U.S. Federal |  | Canada |  | Alternative Fuels |  | All Other |  | Total
Project revenue | $ | 269,021 |  |  | $ | 250,130 |  |  | $ | 24,647 |  |  | $ | — |  |  | $ | 27,166 |  |  | $ | 570,964 |
O&M revenue | 15,775 |  |  | 34,969 |  |  | 26 |  |  | 7,061 |  |  | 253 |  |  | 58,084 |
Energy assets | 28,656 |  |  | 3,839 |  |  | 3,727 |  |  | 72,861 |  |  | 381 |  |  | 109,464 |
Integrated-PV | — |  |  | — |  |  | — |  |  | — |  |  | 30,313 |  |  | 30,313 |
Other | 1,526 |  |  | 130 |  |  | 5,776 |  |  | 109 |  |  | 23,438 |  |  | 30,979 |
Total revenues | $ | 314,978 |  |  | $ | 289,068 |  |  | $ | 34,176 |  |  | $ | 80,031 |  |  | $ | 81,551 |  |  | $ | 799,804 |
The following table presents information related to our revenue recognized over time:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Percentage of revenue recognized over time | 95% |  | 93% |  | 96% |  | 94%
The remainder of our revenue is for products and services transferred at a point in time, at which point revenue is recognized. 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 September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
United States | $ | 421,939 |  |  | $ | 250,441 |  |  | $ | 1,409,210 |  |  | $ | 736,986 |
Canada | 11,416 |  |  | 10,832 |  |  | 40,429 |  |  | 31,658 |
Other | 7,941 |  |  | 12,409 |  |  | 43,056 |  |  | 31,160 |
Total revenues | $ | 441,296 |  |  | $ | 273,682 |  |  | $ | 1,492,695 |  |  | $ | 799,804 |
Contract Balances The following tables provide information about receivables, contract assets and contract liabilities from contracts with customers:
|  | September 30, 2022 |  | December 31, 2021
Accounts receivable, net |  | $ | 219,817 |  |  | $ | 161,970 |
Accounts receivable retainage, net |  | $ | 42,456 |  |  | $ | 43,067 |
Contract Assets: |  |  |  |
Costs and estimated earnings in excess of billings |  | $ | 628,529 |  |  | $ | 306,172 |
Contract Liabilities: |  |  |  |
Billings in excess of cost and estimated earnings |  | $ | 43,173 |  |  | $ | 35,918 |
Billings in excess of cost and estimated earnings, non-current (1) |  | 6,310 |  |  | 6,481 |
Total contract liabilities |  | $ | 49,483 |  |  | $ | 42,399 |
| September 30, 2021 |  | December 31, 2020
Accounts receivable, net | $ | 112,893 |  |  | $ | 125,010 |
Accounts receivable retainage, net | $ | 39,404 |  |  | $ | 30,189 |
Contract Assets: |  |  |
Costs and estimated earnings in excess of billings | $ | 213,468 |  |  | $ | 185,960 |
Contract Liabilities: |  |  |
Billings in excess of cost and estimated earnings | $ | 28,018 |  |  | $ | 33,984 |
Billings in excess of cost and estimated earnings, non-current (1) | 6,795 |  |  | 6,631 |
Total contract liabilities | $ | 34,813 |  |  | $ | 40,615 |
(1) Performance obligations that are expected to be completed beyond the next twelve months and are included in other liabilities in the condensed consolidated balance sheets.
The increase in contract assets for the nine months ended September 30, 2022 was primarily due to revenue recognized of $1,168,996 offset by billings of $850,243. Contract assets also increased due to reclassifications, primarily from contract liabilities as a result of timing of customer payments. The increase in contract liabilities was primarily driven by the receipt of advance payments from customers, and related billings, as well as reclassifications from contract assets as a result of timing of customer payments. The advance payments and reclassifications exceeded the recognition of revenue as performance obligations were satisfied. For the nine months ended September 30, 2022, we billed customers $99,121 and recognized revenue of $99,424 that was previously included in the beginning balance of contract liabilities. The increase in contract assets for the nine months ended September 30, 2021 was primarily due to revenue recognized of $414,049 offset by billings of $422,565. Contract assets also increased due to reclassifications, primarily from contract liabilities as a result of timing of customer payments. 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 nine months ended September 30, 2021, we recognized revenue of $161,037 that was previously included in the beginning balance of contract liabilities and billed customers $123,891. 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 September 30, 2022, we had contracted backlog of $2,179,085 of which approximatel y 29% 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 operations and maintenance (“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 $5,614 and $2,632 were recognized in the condensed consolidated statements of income on projects that converted to customer contracts during the three months ended September 30, 2022 and 2021, respectively. Project development costs of $11,594 and $7,725 were recognized in the condensed consolidated statements of income on projects that converted to customer contracts during the nine months ended September 30, 2022 and 2021, respectively. No impairment charges in connection with our project development costs were recorded during the three or nine months ended September 30, 2022 and 2021.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration