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SUPPLEMENTAL FINANCIAL STATEMENT DATA

9 Months Ended

Sep. 29, 2023

SUPPLEMENTAL FINANCIAL STATEMENT DATA

4. SUPPLEMENTAL FINANCIAL STATEMENT DATA

Restricted Cash

The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows:


	September 29,		December 30,
	2023		2022
	(in thousands)
Cash and cash equivalents	$	12,887	$	8,806
Restricted cash		—		10,679
Total cash, cash equivalents, and restricted cash shown in the consolidated statement of cash flows	$	12,887	$	19,485

Under certain utility contracts, the Company periodically receives cash deposits to be held in trust for the payment of energy incentive rebates to be sent directly to the utility’s end-customer on behalf of the utility. The Company acts solely as the utility’s agent to distribute these funds to the end-customer and, accordingly, the Company classifies these contractually restricted funds as restricted cash. Because these funds are held in trust for pass through to the utility’s customers and have no impact on the Company’s working capital or operating cash flows, these cash receipts are presented in the consolidated statement of cash flows as financing cash inflows, “Receipt of restricted cash”, with the subsequent payments classified as financing cash outflows, “Payment of restricted cash.”

Equipment and Leasehold Improvements


	September 29,		December 30,
	2023		2022
	(in thousands)
Furniture and fixtures	$	4,338	$	4,062
Computer hardware and software		42,516		35,635
Leasehold improvements		3,382		3,097
Equipment under finance leases		5,885		5,503
Automobiles, trucks, and field equipment		3,154		3,134
Subtotal		59,275		51,431
Accumulated depreciation and amortization		(33,115)		(28,894)
Equipment and leasehold improvements, net	$	26,160	$	22,537

Included in accumulated depreciation and amortization is $1.0 million and $1.1 million of amortization expense related to equipment held under finance leases for the nine months ended September 29, 2023 and for fiscal year 2022, respectively.

Accrued Liabilities


	September 29,		December 30,
	2023		2022
	(in thousands)
Accrued subcontractor costs	$	25,607	$	28,374
Accrued bonuses		10,534		8,470
Employee withholdings		3,195		2,571
Compensation and payroll taxes		3,858		2,340
Rebate and other		118		14,643
Accrued accounting and taxes		2,461		2,712
Total accrued liabilities	$	45,773	$	59,110

Goodwill


	December 30,		Additional		Additions /		September 29,
	2022		Purchase Cost		Adjustments		2023
	(in thousands)
Reporting Unit:
Energy	$	129,375	$	—	$	—	$	129,375
Engineering and Consulting		749		1,020		—		1,769
	$	130,124	$	1,020	$	—	$	131,144

The Company tests its goodwill at least annually for possible impairment. The Company completes its annual testing of goodwill as of the last day of the first month of its fourth fiscal quarter each year to determine whether there is a potential impairment. In addition to the Company’s annual test, it regularly evaluates whether events and circumstances have occurred that may indicate a potential impairment of goodwill. During the quarter ended September 29, 2023, although the Company experienced declines in the market price of its stock, such decreases did not result in the Company’s market capitalization decreasing below book value. The Company evaluated the current economic environment and noted that it does not believe it is more likely than not that goodwill was impaired as of September 29, 2023.

Intangible Assets


	September 29, 2023				December 30, 2022
	Gross		Accumulated		Gross		Accumulated		Amortization
	Amount		Amortization		Amount		Amortization		Period
	(in thousands)								(in years)
Finite:
Backlog	$	8,306	$	8,004	$	7,944	$	7,944	1.0
Tradename		15,936		12,453		15,911		10,990	2.5	-	6.0
Non-compete agreements		1,613		1,428		1,420		1,420	4.0	-	5.0
Developed technology		15,810		14,062		15,810		11,871	8.0
Customer relationships		58,149		29,712		58,149		25,523	5.0	-	8.0
Total intangible assets	$	99,814	$	65,659	$	99,234	$	57,748