Infrastructure and Energy Alternatives (IEA) 10-Q 10 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 10, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Infrastructure & Energy Alternatives, Inc.
Entity Central Index Key	1,652,362
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Amendment Flag	false
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		21,577,650

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 19,648	$ 4,877
Accounts receivable, net of allowances of $216 and $216, respectively	40,043	60,981
Costs and estimated earnings in excess of billings on uncompleted contracts	14,928	18,613
Prepaid expenses and other current assets	1,508	862
Total current assets	76,127	85,333
Property, plant and equipment, net	29,071	30,905
Goodwill	3,020	3,020
Company-owned life insurance	4,275	4,250
Other assets	39	115
Deferred income taxes - long term	5,650	3,080
Total assets	118,182	126,703
Current liabilities:
Accounts payable and accrued liabilities	53,088	70,030
Billings in excess of costs and estimated earnings on uncompleted contracts	32,996	7,398
Current portion of capital lease obligations	5,484	4,691
Term loan - short-term	3,360	0
Line of credit - short-term	0	33,674
Total current liabilities	94,928	115,793
Capital lease obligations, net of current maturities	13,801	15,899
Long-term debt	54,651	0
Deferred compensation	5,185	5,030
Contingent consideration	69,373	0
Total liabilities	237,938	136,722
Commitments and contingencies
Preferred stock, par value, $.0001 per share; 1,000,000 shares authorized; 34,965 shares and 0 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	34,965	0
Stockholders' equity (deficit)
Common stock, par value, $.0001 per share; 100,000,000 shares authorized; 21,577,650 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	2	2
Additional paid in capital	0	0
Retained earnings (deficit)	(154,723)	(10,021)
Total stockholder's equity (deficit)	(119,756)	(10,019)
Total liabilities and stockholder's equity (deficit)	$ 118,182	$ 126,703

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 216	$ 216
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	34,965	0
Preferred stock, shares outstanding	34,965	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares, issued	21,577,650	21,577,650
Common stock, shares, outstanding	21,577,650	21,577,650

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenue	$ 50,135	$ 52,256
Cost of revenue	53,220	44,192
Gross profit	(3,085)	8,064
Selling, general and administrative expenses	16,960	6,067
Income (loss) from operations	(20,045)	1,997
Other income (expense), net:
Interest expense, net	(851)	(362)
Other income (expense)	(11)	512
Income (loss) before benefit (provision) for income taxes	(20,907)	2,147
Benefit (provision) for income taxes	3,515	(757)
Net income (loss)	$ (17,392)	$ 1,390
Net income (loss) per common share - basic (in dollars per share)	$ (0.81)	$ 0.06
Net income (loss) per common share - diluted (in dollars per share)	$ (0.81)	$ 0.06
Weighted average number of shares outstanding during the period - Basic and Diluted (in shares)	21,577,650	21,577,650

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ (17,392)	$ 1,390
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	1,972	957
Profit units compensation expense	0	14
Gain on sale of equipment	0	(185)
Deferred compensation	155	(188)
Provision for losses on contract receivables	872	0
Deferred income taxes	(2,567)	114
Other	0	(93)
Change in operating assets and liabilities:
Accounts receivable	20,938	28,117
Costs and estimated earnings in excess of billings on uncompleted contracts	3,685	2,447
Prepaid expenses and other assets	(601)	(2)
Accounts payable and accrued liabilities	(16,943)	(56,575)
Billings in excess of costs and estimated earnings on uncompleted contracts	24,726	(3,070)
Net cash provided by (used in) operating activities	14,845	(27,074)
Cash flow from investing activities:
Company-owned life insurance	(25)	(956)
Purchases of property, plant and equipment	(108)	(269)
Proceeds from sale of property, plant and equipment	0	107
Net cash used in investing activities	(133)	(1,118)
Cash flows from financing activities:
Proceeds from debt and line of credit	64,927	9,626
Payments on line of credit - short term	(38,447)	0
Debt issuance costs	(2,144)	0
Payments on capital lease obligations	(1,304)	(218)
Recapitalization transaction	(22,973)	0
Net cash provided by financing activities	59	9,408
Net change in cash and cash equivalents	14,771	(18,784)
Cash and cash equivalents, beginning of the period	4,877	21,607
Cash and cash equivalents, end of the period	19,648	2,823
Supplemental disclosure of cash and non-cash transactions:
Cash paid for interest	853	362
Cash paid for income taxes	0	0
Acquisition of assets/liabilities through capital lease	0	1,550
Merger-related contingent consideration	69,373	0
Issuance of common shares	90,282	0
Issuance of preferred shares	$ 34,965	$ 0

Organization, business and basi

Organization, business and basis of presentation	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, business and basis of presentation	Organization, business and basis of presentation Infrastructure and Energy Alternatives, Inc. ("IEA" or the "Company") is a Delaware holding company (together with its wholly-owned subsidiaries, collectively the “Company”). On March 26, 2018, IEA Energy Services, LLC merged into a wholly owned indirect subsidiary of M III Acquisition Corporation ("M III"), a Delaware corporation organized on August 4, 2015 . Following the merger, M III changed its name to “Infrastructure and Energy Services, Inc. The Company specializes in providing complete engineering, procurement and construction (“EPC”) services throughout the U.S. for the renewable energy, traditional power and civil infrastructure industries. The services are performed under fixed-price and time-and-materials contracts. In the opinion of management, these financial statements reflect all adjustments that are necessary to present fairly the results of operations for the interim periods presented. All adjustments are of a normal, recurring nature unless otherwise disclosed. The results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. These financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2017 and notes thereto included in Exhibit 99.4 to the Company's Form 8-K filed on March 29, 2018. Principles of Consolidation The accompanying consolidated financial statements include the accounts of IEA and its wholly-owned direct and indirect domestic and foreign subsidiaries: IEA Intermediate Holdco, LLC (“Holdings”), IEA Energy Services, LLC ("IEA Services"), IEA Management Services, Inc. (“IMS”), IEA Renewable, Inc. (“Renewable”), White Construction, Inc. (“White”), White Electrical Constructors, Inc. (“WECI”), and IEA Equipment Management, Inc. (“IEM”), and White’s wholly-owned subsidiary H.B. White Canada Corp. (“H.B. White”). The Company operates in one reportable segment, providing EPC services. On March 26, 2018 (the "Closing Date"), we consummated the previously announced merger (the "Merger") pursuant to that certain Agreement and Plan of Merger, dated November 3, 2017, as amended by Amendment No. 1 thereto, dated November 15, 2017, Amendment No. 2 thereto, dated December 27, 2017, Amendment No. 3 thereto, dated January 9, 2018, Amendment No. 4 thereto, dated February 7, 2018, and Amendment No. 5 thereto, dated March 9, 2018 (as amended, the "Merger Agreement"), by and among the Company, IEA Services, Wind Merger Sub I, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company, Wind Merger Sub II, LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company, Infrastructure and Energy Alternatives, LLC, a Delaware limited liability company ("Seller"), Oaktree Power Opportunities Fund III Delaware, L.P. ("Oaktree"), a Delaware limited partnership, solely in its capacity as the Seller’s representative and, solely for purposes of certain sections therein, M III Sponsor I LLC, a Delaware limited liability company, and M III Sponsor I LP, a Delaware limited partnership, which provided for, among other things, the merger of Merger Sub I with and into IEA Services with IEA Services surviving such merger and, immediately thereafter, merging with and into Merger Sub II with Merger Sub II surviving such merger as an indirect, wholly-owned subsidiary of the Company. See Note 3 of the Notes to Condensed Consolidated Financial Statements for more information on the Merger. Basis of Accounting and Use of Estimates The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The preparation of the consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Key estimates include: the recognition of revenue and project profit or loss (which the Company defines as project revenue less project costs of revenue), in particular, on construction contracts accounted for under the percentage-of completion method, for which the recorded amounts require estimates of costs to complete projects, ultimate project profit and the amount of probable contract price adjustments as inputs; allowances for doubtful accounts; accrued self-insured claims; other reserves and accruals; accounting for income taxes; and the estimated impact of contingencies and ongoing litigation. While management believes that such estimates are reasonable when considered in conjunction with the Company’s consolidated financial position and results of operations, actual results could differ materially from those estimates.

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies “Emerging Growth Company” Reporting Requirements: The Company qualifies as an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act (the “JOBS Act”). For as long as a company is deemed to be an “emerging growth company,” it may take advantage of specified reduced reporting and other regulatory requirements that are generally unavailable to other public companies. Among other things, we are not required to provide an auditor attestation report on the assessment of the internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”). Section 107 of the JOBS Act also provides that an “emerging growth company” can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards. We would cease to be an “emerging growth company” upon the earliest of: • the last day of the fiscal year following July 6, 2021, the five -year anniversary of the completion of M III's IPO; • the last day of the fiscal year in which our total annual gross revenues exceed $1.07 billion ; • the date on which we have, during the previous three -year period, issued more than $1 billion in non-convertible debt securities; or • the date on which we become a “large accelerated filer,” as defined in Rule 12b-2 under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), which would occur if the market value of our common stock held by nonaffiliates exceeds $700 million as of the last day of our most recently completed second fiscal quarter. We continue to monitor our status as an “emerging growth company” and are currently preparing, and expect to be ready to comply with, the additional reporting and regulatory requirements that will be applicable to us when we cease to qualify as an “emerging growth company.” Revenue Recognition Revenue under construction contracts are accounted for under the percentage-of-completion method of accounting. Under the percentage-of-completion method, the Company estimates profit as the difference between total estimated revenue and total estimated cost of a contract and recognizes that profit over the contract term based on costs incurred. Contract costs include all direct materials, labor and subcontracted costs and those indirect costs related to contract performance, such as indirect labor, supplies, tools, repairs, depreciation and the operational costs of capital equipment. The estimation process for revenue recognized under the percentage-of-completion method is based on the professional knowledge and experience of the Company’s project managers, engineers and financial professionals. Management reviews estimates of contract revenue and costs on an ongoing basis. Changes in job performance, job conditions and management’s assessment of expected contract settlements are factors that influence estimates of total contract value and total costs to complete those contracts and, therefore, the Company’s profit recognition. Changes in these factors may result in revisions to costs and income, and their effects are recognized in the period in which the revisions are determined, which could materially affect the Company’s results of operations in the period in which such changes are recognized. Revenue derived from projects billed on a fixed-price basis totaled 81.0% and 99.0% of consolidated revenue from operations for the periods ended March 31, 2018 and 2017 , respectively. Revenue and related costs for construction contracts billed on a time and materials basis are recognized as the services are rendered. Revenue derived from projects billed on a time and materials basis, also accounted for under the percentage of completion method totaled 19.0% and 1.0% of consolidated revenue from operations for the periods ended March 31, 2018 and 2017 , respectively. Provisions for losses on uncompleted contracts are made in the period in which such losses are determined to be probable and the amount can be reasonably estimated. The Company may incur costs subject to change orders, whether approved or unapproved by the customer, and/or claims related to certain contracts. Management determines the probability that such costs will be recovered based upon engineering studies and legal opinions, past practices with the customer, specific discussions, correspondence or preliminary negotiations with the customer. The Company treats such costs as a cost of contract performance in the period incurred if it is not probable that the costs will be recovered. As of March 31, 2018 and 2017 , the Company had revenue related to unapproved change orders which totaled approximately $21,872 and $12,408 respectively. The Company actively engages in substantive meetings with its customers to complete the final approval process, and generally expects these processes to be completed within a year. The amounts ultimately realized upon final acceptance by its customers could be higher or lower than such estimated amounts. Changes in job performance, job conditions, estimated profitability, and final contract settlements that result in revisions to costs and income are recognized in the accounting period when these matters are known. Claims for additional contract revenue are recognized when realization of the claim is assured, and the amount can reasonably be determined. When realization is probable, revenue is recognized to the extent of cost incurred. Classification of Construction Contract-Related Assets and Liabilities Contract costs include all direct subcontract, material, and labor costs, and those indirect costs related to contract performance, such as indirect labor, supplies, tools, insurance, repairs, maintenance, communications, and use of Company-owned equipment. Contract revenues are earned and matched with related costs as incurred. Costs and estimated earnings in excess of billings on uncompleted contracts are presented as a current asset in the accompanying consolidated balance sheets, and billings in excess of costs and estimated earnings on uncompleted contracts are presented as a current liability in the accompanying consolidated balance sheets. The Company’s contracts vary in duration, with the duration of some larger contracts exceeding one year. Consistent with industry practices, the Company includes the amounts realizable and payable under contracts, which may extend beyond one year, in current assets and current liabilities. These balances are generally settled within one year. New Accounting Pronouncements The effective dates shown in the following pronouncements are based on the Company's current status as an "Emerging Growth Company". In May 2014, the Financial Accounting Standards Board ("FASB") issued guidance on the recognition of revenue from contracts with customers. The core principle of the guidance is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration which the company expects to receive in exchange for those goods or services. To achieve this core principle, the guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. The guidance addresses several areas including transfer of control, contracts with multiple performance obligations, and costs to obtain and fulfill contracts. The guidance also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB issued additional guidance deferring the effective date for one year while allowing entities the option to adopt one year early. For public companies, the guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that annual reporting period. For as long as we remain an “emerging growth company” the guidance will be effective for our fiscal year 2019 annual financial statements and for interim periods beginning in fiscal year 2020. The Company continues to evaluate the impact the adoption of this new standard will have on its consolidated financial statements. Under the guidance there are two acceptable adoption methods: (i) full retrospective adoption to each prior reporting period presented with the option to elect certain practical expedients; or (ii) modified retrospective adoption with the cumulative effect of initially applying the guidance recognized at the date of initial application and providing certain additional disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”), which is effective for annual reporting periods beginning after December 15, 2018. Under ASU 2016-02, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: 1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and 2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. For as long as we remain an "Emerging Growth Company" the new guidance will be effective for our fiscal year 2020 annual financial statements and for the interim statements beginning in fiscal year 2020. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which simplifies several aspects of the accounting for employee share-based payment transactions including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification of related amounts within the statement of cash flows. Early adoption is permitted for any interim or annual period. This ASU, which the Company adopted early as of January 1, 2018, did not have a material effect on the Company’s consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments . ASU 2016-15 eliminates the diversity in practice related to the classification of certain cash receipts and payments for debt prepayment or extinguishment costs, the maturing of a zero-coupon bond, the settlement of contingent liabilities arising from a business combination, proceeds from insurance settlements, distributions from certain equity method investees and beneficial interests obtained in a financial asset securitization. ASU 2016-15 designates the appropriate cash flow classification, including requirements to allocate certain components of these cash receipts and payments among operating, investing and financing activities. Early adoption is permitted for any interim or annual period. This ASU, which the Company adopted early as of January 1, 2018, did not have a material effect on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other, Simplifying the Accounting for Goodwill Impairment . ASU 2017-04 removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. This new guidance will be applied prospectively, and is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for any interim or annual period. This ASU, which the Company adopted early as of January 1, 2018, did not have a material effect on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business , which amends the current definition of a business. Under ASU 2017-01, to be considered a business, an acquisition would have to include an input and a substantive process that together significantly contributes to the ability to create outputs. ASU 2017-01 further states that when substantially all of the fair value of gross assets acquired is concentrated in a single asset (or a group of similar assets), the assets acquired would not represent a business. The new guidance also narrows the definition of the term "outputs" to be consistent with how it is described in Topic 606, Revenue from Contracts with Customers . The changes to the definition of a business will likely result in more acquisitions being accounted for as asset acquisitions. Early adoption is permitted for any interim or annual period. This ASU, which the Company adopted early as of January 1, 2018, did not have a material effect on the Company’s consolidated financial statements. Management has evaluated other recently issued accounting pronouncements and does not believe that they will have a significant impact on the financial statements and related disclosures.

Merger and Recapitalization

Merger and Recapitalization	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Merger and Recapitalization	Merger and Recapitalization The Merger, as described in Note 1, is being accounted for as a reverse recapitalization in accordance with U.S. GAAP. As such, IEA is treated as the continuing company and M III is treated as the ‘‘acquired’’ company for financial reporting purposes. This determination was primarily based on IEA Services’ operations comprising substantially all of the ongoing operations of the post-combination company, M III not attaining majority of the Board of Directors, IEA Services’ senior management comprising substantially all of the senior management of the post-combination company and the Seller holding a 48.3% voting interest in the Company, while no single M III shareholder holds more than a 20% voting interest. Accordingly, for accounting purposes, the Merger is treated as the equivalent of IEA Services issuing stock for the net assets of M III, accompanied by a recapitalization. The net assets of M III are stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Merger are the historical operations of IEA Services. The amount of merger consideration paid at the Closing Date to IEA (the “Merger Consideration”) was $81.4 million in cash, and 10,428,500 shares of Common Stock and 34,965 shares of Series A Preferred Stock with an aggregate stated value of $126.3 million at the Closing Date. Immediately following the Closing, Seller owned approximately 48.3% of the Company’s common stock and other stockholders owned approximately 51.7% of the Company’s outstanding common stock. The Merger Consideration is subject to adjustment based on final determinations of IEA Services’ closing date working capital and indebtedness, which determination will be finalized approximately 45 days after the Closing Date. Pursuant the Merger Agreement, the Company is required to issue to the Seller up to an additional 9,000,000 common shares in the aggregate based upon satisfaction of EBITDA targets for 2018 and 2019. See Note 8 to these Notes to the Condensed Consolidated Financial Statements. The Company's Profits Interest Unit Incentive Plan (the "Plan") was terminated as a part of the Merger.

Earnings per share

Earnings per share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings per share	Earnings per share The Company calculates earnings per share in accordance with ASC 260 — Earnings per Share. Basic earnings per common share (“EPS”) applicable to common stockholders is computed by dividing earnings applicable to common stockholders by the weighted-average number of common shares. Income (loss) available to common stockholders is computed by deducting the dividends accumulated for the period on cumulative preferred stock from net income. If there is a net loss, the amount of the loss is increased by those preferred dividends. Diluted EPS assumes the dilutive effect of outstanding earn-out shares and the dilutive effect of the Series A cumulative convertible preferred stock, using the if-converted method. The if-converted method adds back preferred stock dividends to net income if dilutive. The control number for determining whether including potential Common Stock in the diluted EPS computation would be antidilutive is net income. As a result, if there is a loss from operations, diluted EPS is computed in the same manner as basic EPS is computed. Similarly, if the Company has net income but its preferred dividend adjustment made in computing income available to common stockholders results in a net loss available to common stockholders, diluted EPS would be computed in the same manner as basic EPS. The calculations of basic and diluted EPS, are as follows ($ in thousands): Three Months Ended March 31, 2018 2017 Numerator: Net income (loss) (17,392 ) 1,390 Convertible Preferred Share dividends — — Numerator for basic earning (loss) per share-income (loss) available to common stockholders (17,392 ) 1,390 Denominator: Weighted average shares basic and diluted 21,577,650 21,577,650 Anti-dilutive: Convertible earn-out shares (see note 8) 9,000,000 — Convertible preferred shares 3,959,797 — Basic EPS (0.81 ) 0.06 Diluted EPS (0.81 ) 0.06 The calculation of weighted average shares outstanding during the periods preceding a reverse recapitalization generally requires the Company to use the capital structure of the entity deemed to be the acquirer for accounting purposes to calculate earnings per share. However, as a limited liability company, IEA Services had no outstanding shares prior to the Merger. Therefore, the weighted average shares outstanding for all comparable prior periods preceding the Merger is based on the capital structure of the merged company, as management believes that is the most useful measure. Shares outstanding Company (f/k/a M III Acquisition Corp.) shares outstanding as of December 31, 2017 19,210,000 Redemption of shares by M III stockholders prior to the merger transaction (7,967,165 ) Common shares issued pursuant to Advisor Commitment Agreements, net of forfeited sponsor founder shares (93,685 ) Shares issued to IEA 10,428,500 IEA shares outstanding as of March 31, 2018 21,577,650 At the closing of the Merger, 34,965 shares of Series A Preferred Stock were issued with an initial stated value of $1,000 per share, for total consideration of $34,965,000 . Holders of Series A Preferred Stock will be entitled to receive such dividends and other distributions, if any, as may be declared from time to time by the Board in its discretion out of funds legally available for such purposes and shall share equally, on a per-share basis, in such dividends and distributions. Dividends on each share of Series A Preferred Stock shall accrue at a rate of 6% per annum during the period from the closing date until the 18 -month anniversary of the closing date and 10% per annum thereafter. These shares are convertible to common shares under certain circumstances and have been included above in the dilutive calculation at the closing price of $8.83 as of March 31, 2018. Warrants to purchase 8,480,000 shares of common stock at $11.50 per share were outstanding at March 31, 2018 but are not included in the computation of diluted EPS because the warrants’ exercise price was greater than the average market price of the Common Stock during the period.

Accounts receivable, net of all

Accounts receivable, net of allowance	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Accounts receivable, net of allowance	Accounts receivable, net of allowance The following table provides details of accounts receivable, net of allowance as of the dates indicated (in thousands): March 31, 2018 December 31, 2017 Contract receivables $ 31,961 $ 44,696 Contract retainage 8,298 16,501 Accounts receivable, gross 40,259 61,197 Less: allowance for doubtful accounts (216 ) (216 ) Accounts receivable, net $ 40,043 $ 60,981 Activity in the allowance for doubtful accounts for the periods indicated is as follows (in thousands): For the periods ended March 31, 2018 2017 Allowance for doubtful accounts at beginning of period $ 216 $ 135 Less: (reduction in) provision for allowances — — Less: write-offs, net of recoveries — — Allowance for doubtful accounts at period end $ 216 $ 135 Gross profit at March 31, 2018, includes a dispute for approximately $4,700 , with a specific customer concerning change orders with respect to one specific project in the first quarter of 2018. The Company believes that the charge reflected in the disputed change orders are properly the obligation of the customer. Nonetheless, the Company elected to settle the dispute and absorb these costs in order to maintain a valuable customer relationship and in exchange for additional project work from that customer.

Contracts in progress

Contracts in progress	3 Months Ended
	Mar. 31, 2018
Contractors [Abstract]
Contracts in progress	Contracts in progress Contracts in progress were as follows as of the dates indicated (in thousands): March 31, 2018 December 31, 2017 Costs on contracts in progress $ 875,234 $ 861,050 Estimated earnings on contracts in progress 130,134 131,997 1,005,368 993,047 Less: billings on contracts in progress (1,023,436 ) (981,832 ) Net underbillings (overbillings) $ (18,068 ) $ 11,215 The above amounts have been included in the accompanying Consolidated Balance Sheets under the following captions (in thousands): March 31, 2018 December 31, 2017 Costs and estimated earnings in excess of billings on uncompleted contracts $ 14,928 $ 18,613 Billings in excess of costs and earnings on uncompleted contracts (32,996 ) (7,398 ) Net underbillings (overbillings) $ (18,068 ) $ 11,215 Billings in excess of costs and earnings on uncompleted contracts includes a provision for loss contracts of $872 and $0 as of March 31, 2018 and December 31, 2017, respectively. The Company has asserted claims and may have unapproved change orders on certain construction projects. These occur typically as a result of scope changes and project delays. Management evaluates these items and estimates the recoverable amounts if this occurs. If significant, these recoverability estimates are evaluated to determine the net realizable value. If additional amounts are recovered, additional contract revenue would be recognized. The current estimated net realizable value on such items as recorded in costs and estimated earnings in excess of billings on uncompleted contracts in the consolidated balance sheets is listed below (in thousands): March 31, 2018 December 31, 2017 Gross amount of unresolved change orders and claims $ 21,872 $ 33,479 Valuation allowance — — Net amount of unresolved change orders and claims $ 21,872 $ 33,479

Property, plant and equipment,

Property, plant and equipment, net	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property, plant and equipment, net	Property, plant and equipment, net Property, plant and equipment, net consisted of the following (in thousands): March 31, 2018 December 31, 2017 Buildings and leasehold improvements $ 480 $ 416 Construction equipment 46,448 46,404 Office equipment, furniture and fixtures 1,451 1,451 Vehicles 404 404 48,783 48,675 Accumulated depreciation (19,712 ) (17,770 ) Property, plant and equipment, net $ 29,071 $ 30,905 Depreciation expense of property, plant and equipment for the period ended March 31, 2018 and 2017 , was $1,942 and $927 , respectively.

Fair value of financial instrum

Fair value of financial instruments	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair value of financial instruments	Fair value of financial instruments The Company applies ASC 820, Fair Value Measurement (“ASC 820”), which establishes a framework for measuring fair value and clarifies the definition of fair value within that framework. ASC 820 defines fair value as an exit price, which is the price that would be received for an asset or paid to transfer a liability in the Company’s principal or most advantageous market in an orderly transaction between market participants on the measurement date. The fair value hierarchy established in ASC 820 generally requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs reflect the assumptions that market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the entity’s own assumptions based on market data and the entity’s judgments about the assumptions that market participants would use in pricing the asset or liability, and are to be developed based on the best information available in the circumstances. The valuation hierarchy is composed of three levels. The classification within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The levels within the valuation hierarchy are described below: Level 1 — Assets and liabilities with unadjusted, quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 — Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 — Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities. The following table sets forth information regarding the Company's assets measured at fair value on a recurring basis (in thousands): Fair Value Measurements at Reporting Date Amount recorded on balance sheet Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities as of March 31, 2018 Contingent consideration 69,373 — — 69,373 The following is a reconciliation of the beginning and ending balances for the periods indicated of recurring fair value measurements using Level 3 inputs (in thousands): Beginning Balance, December 31, 2017 $ — Contingent consideration issued during merger 69,373 Ending Balance, March 31, 2018 $ 69,373 Contingent Consideration Pursuant to the Merger Agreement, the Company shall issue to the Seller up to an additional 9,000,000 common shares in the aggregate, which shall be fully earned if the final 2018 and 2019 adjusted EBITDA targets are achieved. The Company recorded the contingent consideration at fair value as a liability by using a Monte Carlo Simulation with inputs of a risk rate premium, a peer group EBITDA volatility and a stock price volatility. The calculation derived a fair value of the liability based on 9,000,000 common shares. Other financial instruments of the Company not listed in the table consist of cash and cash equivalents, accounts receivable, accounts payable and other current liabilities that approximate their fair values. Additionally, management believes that the outstanding recorded balance on the line of long-term debt, further discussed in Note 9, approximates fair value due to their floating interest rates.

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt Debt consists of the following obligations as of: March 31, 2018 December 31, 2017 Line of credit - short term — 33,674 Line of credit - long term 36,155 — Term loan - long term 24,000 — Total debt 60,155 33,674 Less - Current portion (3,360 ) (33,674 ) Less - Debt issuance costs (2,144 ) — Long-term debt 54,651 — New Credit Facility In conjunction with the completion of the Merger, all amounts outstanding under the old credit facility were repaid and the agreement was terminated. The amount of $33.7 million was recorded as line of credit - short term on the Consolidated Balance Sheet as of December 31, 2017. In March 2018, IEA Services entered into a new credit facility which provides for aggregate revolving borrowings of up to $50.0 million and a $50.0 million delayed-draw term loan facility, each maturing in March 2021. Interest on the new credit facility will accrue at an interest rate of (x) LIBOR plus a margin of 3.00% or (y) an alternate base rate plus a margin of 2.00% , at our option. Obligations under the new credit facility are guaranteed by Holdings, the parent of IEA Services, and each of IEA Services' and domestic subsidiaries and are secured by all of IEA Services' and the guarantors' present and future assets, subject to customary carve-outs. The interest rate on our debt as of March 31, 2018 and December 31, 2017, was 5.76% and 4.50% , respectively. As of March 31, 2018, the Company had drawn $36.2 million under the revolving credit facility, and $24.0 million under the term loan facility, to refinance existing indebtedness (including backstopping existing letters of credit) and to pay transaction expenses and cash consideration. The term loan may be drawn down for a period of two years (in not more than four drawdowns). Each draw under the term loan facility will be subject to quarterly amortization of principal, commencing on the last day of the first fiscal quarter ending after such draw, in an amount equal to 3.5% of the initial amount of such draw (the ‘‘Scheduled Amortization’’). With respect to any draw of the term loan facility, after giving effect to such draw on a pro forma basis: (i) the consolidated leverage ratio (as defined) must not exceed 2.75 :1 and (ii) The Company must have liquidity (defined as unrestricted cash and revolver availability) of at least $20.0 million . Contractual maturities of the Company's debt and capital lease obligations as of March 31, 2018 (in thousands): 2018 $ 9,395 2019 10,117 2020 10,117 2021 52,504 2022 — Thereafter — Total contractual obligations $ 82,133 Letters of Credit and Surety Bonds In the ordinary course of business, the Company is required to post letters of credit and surety bonds to customers in support of performance under certain contracts. Such letters of credit are generally issued by a bank or similar financial institution. The letter of credit or surety bond commits the issuer to pay specified amounts to the holder of the letter of credit or surety bond under certain conditions. If the letter of credit or surety bond issuer were required to pay any amount to a holder, the Company would be required to reimburse the issuer, which, depending upon the circumstances, could result in a charge to earnings. As of March 31, 2018, and December 31, 2017, the Company was contingently liable under letters of credit issued under its revolving credit facility or its old credit facility, respectively, in the amount of $ 5,684 and $ 5,934 , respectively, related to projects. In addition, as of March 31, 2018 and December 31, 2017, the Company had outstanding surety bonds on projects of $631,671 and $535,529 , respectively.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Capital Leases The Company has obligations, exclusive of associated interest, under various capital leases for equipment totaling $19,285 and $20,590 at March 31, 2018 and December 31, 2017 , respectively. Gross property under this capitalized lease agreement at March 31, 2018 and December 31, 2017 , totaled $27,005 and $27,005 , less accumulated depreciation of $ 4,203 and $2,817 , respectively, for net balances of $ 22,802 and $24,188 , respectively. Depreciation of assets held under the capital leases is included in cost of revenue on the Consolidated Statements of Operations. Operating Leases In the ordinary course of business, the Company enters into non-cancelable operating leases for certain of its facility, vehicle and equipment needs, including related party leases. See Note 13 - Related Party Transactions. Rent and related expense for operating leases that have non-cancelable terms totaled approximately $388 and $593 for the three-month periods ended March 31, 2018 and 2017, respectively. Deferred Compensation The Company has two deferred compensation plans. The first plan is a supplemental executive retirement plan established in 1993 that covers four specific employees or former employees, whose deferred compensation is determined by the number of service years. Payment of the benefits is to be made for 20 years after employment ends. Two former employees are currently receiving benefits, and two participants are still employees of the Company. The present value of the liability is estimated using the early retirement method. Of the two current employees, one has reached the full benefit level and the other will reach the full benefit level in 2018. Annual payments under this plan for 2018 will be $93 . Maximum aggregate payments per year if all participants were retired would be $255 . As of March 31, 2018 and December 31, 2017, the Company has a long-term liability of $ 3,339 and $ 3,356 , respectively, for the supplemental executive retirement plan. The Company offers a non-qualified deferred compensation plan which is made up of an executive excess plan and an incentive bonus plan. This plan was designed and implemented to enhance employee savings and retirement accumulation on a tax-advantaged basis, beyond the limits of traditional qualified retirement plans. This plan allows employees to: (1) defer annual compensation from multiple sources; (2) create wealth through tax-deferred investments; (3) save and invest on a pretax basis to meet accumulation and retirement planning needs; and (4) utilize a diverse choice of investment options to maximize returns. Executive awards are expensed as vested. Project Management Incentive Payments and incentive payments are expensed when awarded as they are earned through the course of the performance of the project to which they are related. Other payments are expensed when vested as they are considered to be earned by retention. Unrecognized compensation expense for the non-qualified deferred compensation plan at March 31, 2018 and 2017, was $ 1,200 and $ 1,053 , respectively. As of March 31, 2018, and December 31, 2017, the Company had a long-term liability of $ 1,846 and $ 1,674 , respectively, for deferred compensation to certain current and former employees. Legal Proceedings Sterret Crane v. White Construction and Zurich Insurance v. White Construction . In this matter, Sterret Crane brought a liability claim against White Construction which resulted in a jury verdict on October 23, 2017 finding White liable for $610 in direct damages. Sterett subsequently filed a motion for attorney fees, interest and costs totaling $659 . While White’s appeal of the jury verdict was pending, the parties settled both the liability lawsuit and the declaratory judgment action in an agreement under which White paid $637 in the first quarter of 2018, and Zurich paid $314 for a full release by all parties. Both of the actions have been dismissed with prejudice. NPI Litigation/CCAA Resolution. Pursuant to a settlement agreement entered into with Northland Power ("NPI") on November 22, 2016 by H.B. White in connection with the Companies' Creditors Arrangement Act (the "CCAA") proceeding of H.B. White, IEA agreed that it or White would pay to NPI or its designee cash in the aggregate amount of CAD $1,000 if the closing date of a material transaction occurred on or before December 31, 2018. A material transaction is defined as a change in control or a public offering of equity securities. The Merger constituted a change of control on March 26, 2018, and as a result the Company paid NPI CAD $1,000 to satisfy such obligation.

Concentrations

Concentrations	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Concentrations	Concentrations The Company had the following approximate revenue and accounts receivable concentrations, net of allowances, for the period ended: March 31, 2018 March 31, 2017 March 31, 2018 December 31, 2017 Revenue % Revenue % Accounts Receivable % Accounts Receivable % Trishe Wind Ohio, LLC 25.8 % * 16.7 % 17.0 % Interstate Power and Light Company 18.6 % * 53.4 % * Great Bay Solar I, LLC 16.6 % * * * EDF Renewable Development, Inc. * * * 11.0 % Bruenning's Breeze Wind Farm, LLC * 29.2 % * * Cimmarron Ben II Wind Project, LLC * 35.2 % * * Thunder Ranch Wind Project, LLC * * * 15.0 % * Amount was not above 10% threshold

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company’s statutory federal tax rate is 21.00% and 34.00% for the periods ended March 31, 2018 and 2017 , respectively. State tax rates for the same period vary among states and range from approximately 3.00% to 9.99% , although some state rates are higher, and a small number of states do not impose an income tax. The effective tax rates for the period ended March 31, 2018 and 2017 were 16.81% and 35.26% , respectively. The difference between the Company’s effective tax rate and the federal statutory rate primarily results from changes in tax legislation and current state taxes, offset by a portion of non-deductible transaction costs. There were no changes in uncertain tax positions during the periods ended March 31, 2018 and 2017 .

Related party transactions

Related party transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related party transactions	Related party transactions Credit Support Fees The Company had debt facilities and other obligations under surety bonds and stand-by letters of credit under the old credit facility that were guaranteed by Oaktree. The Company paid a fee for those guarantees based on the total amount outstanding. The Company expense related to these fees during the periods ended March 31, 2018 and 2017 was $ 231 and $ 425 . Clinton Lease Agreement On October 20, 2017, the Company enacted a plan to restructure the ownership of a building and land which resulted in the transfer of ownership of such building and land from its consolidated subsidiary, WCI, to Clinton RE Holdings, LLC (Cayman) (“Cayman Holdings”), a directly owned subsidiary of the Seller. The lease has been classified as an operating lease with monthly payments for twenty years through 2038. The Company expense related to the lease during the period ended March 31, 2018 was $153 .

Summary of significant accoun19

Summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of IEA and its wholly-owned direct and indirect domestic and foreign subsidiaries: IEA Intermediate Holdco, LLC (“Holdings”), IEA Energy Services, LLC ("IEA Services"), IEA Management Services, Inc. (“IMS”), IEA Renewable, Inc. (“Renewable”), White Construction, Inc. (“White”), White Electrical Constructors, Inc. (“WECI”), and IEA Equipment Management, Inc. (“IEM”), and White’s wholly-owned subsidiary H.B. White Canada Corp. (“H.B. White”). The Company operates in one reportable segment, providing EPC services. On March 26, 2018 (the "Closing Date"), we consummated the previously announced merger (the "Merger") pursuant to that certain Agreement and Plan of Merger, dated November 3, 2017, as amended by Amendment No. 1 thereto, dated November 15, 2017, Amendment No. 2 thereto, dated December 27, 2017, Amendment No. 3 thereto, dated January 9, 2018, Amendment No. 4 thereto, dated February 7, 2018, and Amendment No. 5 thereto, dated March 9, 2018 (as amended, the "Merger Agreement"), by and among the Company, IEA Services, Wind Merger Sub I, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company, Wind Merger Sub II, LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company, Infrastructure and Energy Alternatives, LLC, a Delaware limited liability company ("Seller"), Oaktree Power Opportunities Fund III Delaware, L.P. ("Oaktree"), a Delaware limited partnership, solely in its capacity as the Seller’s representative and, solely for purposes of certain sections therein, M III Sponsor I LLC, a Delaware limited liability company, and M III Sponsor I LP, a Delaware limited partnership, which provided for, among other things, the merger of Merger Sub I with and into IEA Services with IEA Services surviving such merger and, immediately thereafter, merging with and into Merger Sub II with Merger Sub II surviving such merger as an indirect, wholly-owned subsidiary of the Company. See Note 3 of the Notes to Condensed Consolidated Financial Statements for more information on the Merger.
Basis of Accounting	The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”).
Use of Estimates	The preparation of the consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Key estimates include: the recognition of revenue and project profit or loss (which the Company defines as project revenue less project costs of revenue), in particular, on construction contracts accounted for under the percentage-of completion method, for which the recorded amounts require estimates of costs to complete projects, ultimate project profit and the amount of probable contract price adjustments as inputs; allowances for doubtful accounts; accrued self-insured claims; other reserves and accruals; accounting for income taxes; and the estimated impact of contingencies and ongoing litigation. While management believes that such estimates are reasonable when considered in conjunction with the Company’s consolidated financial position and results of operations, actual results could differ materially from those estimates.
Revenue Recognition	Revenue Recognition Revenue under construction contracts are accounted for under the percentage-of-completion method of accounting. Under the percentage-of-completion method, the Company estimates profit as the difference between total estimated revenue and total estimated cost of a contract and recognizes that profit over the contract term based on costs incurred. Contract costs include all direct materials, labor and subcontracted costs and those indirect costs related to contract performance, such as indirect labor, supplies, tools, repairs, depreciation and the operational costs of capital equipment. The estimation process for revenue recognized under the percentage-of-completion method is based on the professional knowledge and experience of the Company’s project managers, engineers and financial professionals. Management reviews estimates of contract revenue and costs on an ongoing basis. Changes in job performance, job conditions and management’s assessment of expected contract settlements are factors that influence estimates of total contract value and total costs to complete those contracts and, therefore, the Company’s profit recognition. Changes in these factors may result in revisions to costs and income, and their effects are recognized in the period in which the revisions are determined, which could materially affect the Company’s results of operations in the period in which such changes are recognized. Revenue derived from projects billed on a fixed-price basis totaled 81.0% and 99.0% of consolidated revenue from operations for the periods ended March 31, 2018 and 2017 , respectively. Revenue and related costs for construction contracts billed on a time and materials basis are recognized as the services are rendered. Revenue derived from projects billed on a time and materials basis, also accounted for under the percentage of completion method totaled 19.0% and 1.0% of consolidated revenue from operations for the periods ended March 31, 2018 and 2017 , respectively. Provisions for losses on uncompleted contracts are made in the period in which such losses are determined to be probable and the amount can be reasonably estimated. The Company may incur costs subject to change orders, whether approved or unapproved by the customer, and/or claims related to certain contracts. Management determines the probability that such costs will be recovered based upon engineering studies and legal opinions, past practices with the customer, specific discussions, correspondence or preliminary negotiations with the customer. The Company treats such costs as a cost of contract performance in the period incurred if it is not probable that the costs will be recovered. As of March 31, 2018 and 2017 , the Company had revenue related to unapproved change orders which totaled approximately $21,872 and $12,408 respectively. The Company actively engages in substantive meetings with its customers to complete the final approval process, and generally expects these processes to be completed within a year. The amounts ultimately realized upon final acceptance by its customers could be higher or lower than such estimated amounts. Changes in job performance, job conditions, estimated profitability, and final contract settlements that result in revisions to costs and income are recognized in the accounting period when these matters are known. Claims for additional contract revenue are recognized when realization of the claim is assured, and the amount can reasonably be determined. When realization is probable, revenue is recognized to the extent of cost incurred.
Classification of Construction Contract-Related Assets and Liabilities	Classification of Construction Contract-Related Assets and Liabilities Contract costs include all direct subcontract, material, and labor costs, and those indirect costs related to contract performance, such as indirect labor, supplies, tools, insurance, repairs, maintenance, communications, and use of Company-owned equipment. Contract revenues are earned and matched with related costs as incurred. Costs and estimated earnings in excess of billings on uncompleted contracts are presented as a current asset in the accompanying consolidated balance sheets, and billings in excess of costs and estimated earnings on uncompleted contracts are presented as a current liability in the accompanying consolidated balance sheets. The Company’s contracts vary in duration, with the duration of some larger contracts exceeding one year. Consistent with industry practices, the Company includes the amounts realizable and payable under contracts, which may extend beyond one year, in current assets and current liabilities. These balances are generally settled within one year.
New Accounting Pronouncements	New Accounting Pronouncements The effective dates shown in the following pronouncements are based on the Company's current status as an "Emerging Growth Company". In May 2014, the Financial Accounting Standards Board ("FASB") issued guidance on the recognition of revenue from contracts with customers. The core principle of the guidance is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration which the company expects to receive in exchange for those goods or services. To achieve this core principle, the guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. The guidance addresses several areas including transfer of control, contracts with multiple performance obligations, and costs to obtain and fulfill contracts. The guidance also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB issued additional guidance deferring the effective date for one year while allowing entities the option to adopt one year early. For public companies, the guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that annual reporting period. For as long as we remain an “emerging growth company” the guidance will be effective for our fiscal year 2019 annual financial statements and for interim periods beginning in fiscal year 2020. The Company continues to evaluate the impact the adoption of this new standard will have on its consolidated financial statements. Under the guidance there are two acceptable adoption methods: (i) full retrospective adoption to each prior reporting period presented with the option to elect certain practical expedients; or (ii) modified retrospective adoption with the cumulative effect of initially applying the guidance recognized at the date of initial application and providing certain additional disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”), which is effective for annual reporting periods beginning after December 15, 2018. Under ASU 2016-02, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: 1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and 2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. For as long as we remain an "Emerging Growth Company" the new guidance will be effective for our fiscal year 2020 annual financial statements and for the interim statements beginning in fiscal year 2020. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which simplifies several aspects of the accounting for employee share-based payment transactions including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification of related amounts within the statement of cash flows. Early adoption is permitted for any interim or annual period. This ASU, which the Company adopted early as of January 1, 2018, did not have a material effect on the Company’s consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments . ASU 2016-15 eliminates the diversity in practice related to the classification of certain cash receipts and payments for debt prepayment or extinguishment costs, the maturing of a zero-coupon bond, the settlement of contingent liabilities arising from a business combination, proceeds from insurance settlements, distributions from certain equity method investees and beneficial interests obtained in a financial asset securitization. ASU 2016-15 designates the appropriate cash flow classification, including requirements to allocate certain components of these cash receipts and payments among operating, investing and financing activities. Early adoption is permitted for any interim or annual period. This ASU, which the Company adopted early as of January 1, 2018, did not have a material effect on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other, Simplifying the Accounting for Goodwill Impairment . ASU 2017-04 removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. This new guidance will be applied prospectively, and is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for any interim or annual period. This ASU, which the Company adopted early as of January 1, 2018, did not have a material effect on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business , which amends the current definition of a business. Under ASU 2017-01, to be considered a business, an acquisition would have to include an input and a substantive process that together significantly contributes to the ability to create outputs. ASU 2017-01 further states that when substantially all of the fair value of gross assets acquired is concentrated in a single asset (or a group of similar assets), the assets acquired would not represent a business. The new guidance also narrows the definition of the term "outputs" to be consistent with how it is described in Topic 606, Revenue from Contracts with Customers . The changes to the definition of a business will likely result in more acquisitions being accounted for as asset acquisitions. Early adoption is permitted for any interim or annual period. This ASU, which the Company adopted early as of January 1, 2018, did not have a material effect on the Company’s consolidated financial statements. Management has evaluated other recently issued accounting pronouncements and does not believe that they will have a significant impact on the financial statements and related disclosures.

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of basic and diluted EPS	The calculations of basic and diluted EPS, are as follows ($ in thousands): Three Months Ended March 31, 2018 2017 Numerator: Net income (loss) (17,392 ) 1,390 Convertible Preferred Share dividends — — Numerator for basic earning (loss) per share-income (loss) available to common stockholders (17,392 ) 1,390 Denominator: Weighted average shares basic and diluted 21,577,650 21,577,650 Anti-dilutive: Convertible earn-out shares (see note 8) 9,000,000 — Convertible preferred shares 3,959,797 — Basic EPS (0.81 ) 0.06 Diluted EPS (0.81 ) 0.06
Schedule of shares outstanding	Shares outstanding Company (f/k/a M III Acquisition Corp.) shares outstanding as of December 31, 2017 19,210,000 Redemption of shares by M III stockholders prior to the merger transaction (7,967,165 ) Common shares issued pursuant to Advisor Commitment Agreements, net of forfeited sponsor founder shares (93,685 ) Shares issued to IEA 10,428,500 IEA shares outstanding as of March 31, 2018 21,577,650

Accounts receivable, net of a21

Accounts receivable, net of allowance (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of accounts receivable and allowance for doubtful accounts	The following table provides details of accounts receivable, net of allowance as of the dates indicated (in thousands): March 31, 2018 December 31, 2017 Contract receivables $ 31,961 $ 44,696 Contract retainage 8,298 16,501 Accounts receivable, gross 40,259 61,197 Less: allowance for doubtful accounts (216 ) (216 ) Accounts receivable, net $ 40,043 $ 60,981 Activity in the allowance for doubtful accounts for the periods indicated is as follows (in thousands): For the periods ended March 31, 2018 2017 Allowance for doubtful accounts at beginning of period $ 216 $ 135 Less: (reduction in) provision for allowances — — Less: write-offs, net of recoveries — — Allowance for doubtful accounts at period end $ 216 $ 135

Contracts in progress (Tables)

Contracts in progress (Tables)	3 Months Ended
	Mar. 31, 2018
Contractors [Abstract]
Costs in excess of billings and billings in excess of costs	Contracts in progress were as follows as of the dates indicated (in thousands): March 31, 2018 December 31, 2017 Costs on contracts in progress $ 875,234 $ 861,050 Estimated earnings on contracts in progress 130,134 131,997 1,005,368 993,047 Less: billings on contracts in progress (1,023,436 ) (981,832 ) Net underbillings (overbillings) $ (18,068 ) $ 11,215 The above amounts have been included in the accompanying Consolidated Balance Sheets under the following captions (in thousands): March 31, 2018 December 31, 2017 Costs and estimated earnings in excess of billings on uncompleted contracts $ 14,928 $ 18,613 Billings in excess of costs and earnings on uncompleted contracts (32,996 ) (7,398 ) Net underbillings (overbillings) $ (18,068 ) $ 11,215
Schedule of contracts receivable, claims and uncertain amounts	The current estimated net realizable value on such items as recorded in costs and estimated earnings in excess of billings on uncompleted contracts in the consolidated balance sheets is listed below (in thousands): March 31, 2018 December 31, 2017 Gross amount of unresolved change orders and claims $ 21,872 $ 33,479 Valuation allowance — — Net amount of unresolved change orders and claims $ 21,872 $ 33,479

Property, plant and equipment23

Property, plant and equipment, net (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of property plant and equipment	Property, plant and equipment, net consisted of the following (in thousands): March 31, 2018 December 31, 2017 Buildings and leasehold improvements $ 480 $ 416 Construction equipment 46,448 46,404 Office equipment, furniture and fixtures 1,451 1,451 Vehicles 404 404 48,783 48,675 Accumulated depreciation (19,712 ) (17,770 ) Property, plant and equipment, net $ 29,071 $ 30,905

Fair value of financial instr24

Fair value of financial instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of fair value of liabilities measured on recurring basis	The following table sets forth information regarding the Company's assets measured at fair value on a recurring basis (in thousands): Fair Value Measurements at Reporting Date Amount recorded on balance sheet Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities as of March 31, 2018 Contingent consideration 69,373 — — 69,373
Schedule of reconciliation of fair value unobservable liabilities measured on recurring basis	The following is a reconciliation of the beginning and ending balances for the periods indicated of recurring fair value measurements using Level 3 inputs (in thousands): Beginning Balance, December 31, 2017 $ — Contingent consideration issued during merger 69,373 Ending Balance, March 31, 2018 $ 69,373

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of long-term debt	Debt consists of the following obligations as of: March 31, 2018 December 31, 2017 Line of credit - short term — 33,674 Line of credit - long term 36,155 — Term loan - long term 24,000 — Total debt 60,155 33,674 Less - Current portion (3,360 ) (33,674 ) Less - Debt issuance costs (2,144 ) — Long-term debt 54,651 —
Contractual maturities of debt and capital lease obligations	Contractual maturities of the Company's debt and capital lease obligations as of March 31, 2018 (in thousands): 2018 $ 9,395 2019 10,117 2020 10,117 2021 52,504 2022 — Thereafter — Total contractual obligations $ 82,133

Concentrations (Tables)

Concentrations (Tables)	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Schedule of revenue and accounts receivable concentrations, net of allowances	The Company had the following approximate revenue and accounts receivable concentrations, net of allowances, for the period ended: March 31, 2018 March 31, 2017 March 31, 2018 December 31, 2017 Revenue % Revenue % Accounts Receivable % Accounts Receivable % Trishe Wind Ohio, LLC 25.8 % * 16.7 % 17.0 % Interstate Power and Light Company 18.6 % * 53.4 % * Great Bay Solar I, LLC 16.6 % * * * EDF Renewable Development, Inc. * * * 11.0 % Bruenning's Breeze Wind Farm, LLC * 29.2 % * * Cimmarron Ben II Wind Project, LLC * 35.2 % * * Thunder Ranch Wind Project, LLC * * * 15.0 % * Amount was not above 10% threshold

Organization, business and ba27

Organization, business and basis of presentation (Details)	3 Months Ended
	Mar. 31, 2018segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

Summary of significant accoun28

Summary of significant accounting policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue related to unapproved change order	$ 21,872	$ 12,408
Fixed-price Contract
Disaggregation of Revenue [Line Items]
Revenue from projects	81.00%	99.00%
Time-and-materials Contract
Disaggregation of Revenue [Line Items]
Revenue from projects	19.00%	1.00%

Merger and Recapitalization (De

Merger and Recapitalization (Details) - USD ($) $ in Millions	Mar. 26, 2018	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Percentage of voting interests owned by other stockholders immediately following the Closing	51.70%
Period after the Closing Date for determination to be finalized		45 days
Contingently issuable shares (in shares)		9,000,000	0
Infrastructure and Energy Alternatives, LLC | Infrastructure and Energy Alternatives, Inc.
Business Acquisition [Line Items]
Percentage of voting interest acquired	48.30%
Percentage of voting interests held by individual M III Shareholders	20.00%
Merger consideration paid	$ 81.4
Value of shares issued as consideration	$ 126.3
Common Stock | Infrastructure and Energy Alternatives, LLC | Infrastructure and Energy Alternatives, Inc.
Business Acquisition [Line Items]
Number of shares issued as consideration (in shares)	10,428,500
Series A Preferred Stock | Infrastructure and Energy Alternatives, LLC | Infrastructure and Energy Alternatives, Inc.
Business Acquisition [Line Items]
Number of shares issued as consideration (in shares)	34,965

Earnings per share - Basic and

Earnings per share - Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Numerator:
Net income (loss)	$ (17,392)		$ 1,390
Convertible Preferred Share dividends	0		0
Numerator for basic earning (loss) per share-income (loss) available to common stockholders	$ (17,392)		$ 1,390
Denominator:
Weighted average shares basic and diluted (in shares)	21,577,650	19,210,000	21,577,650
Convertible earn-out shares (see note 8) (in shares)	9,000,000		0
Convertible preferred shares (in shares)	3,959,797		0
Basic EPS (in dollars per share)	$ (0.81)		$ 0.06
Diluted EPS (in dollars per share)	$ (0.81)		$ 0.06

Earnings per share - Shares out

Earnings per share - Shares outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Earnings Per Share [Abstract]
Weighted average shares outstanding (in shares)	21,577,650	19,210,000	21,577,650
Redemption of shares by M III stockholders prior to the merger transaction (in shares)	(7,967,165)
Common shares issued pursuant to Advisor Commitment Agreements, net of forfeited sponsor founder shares (in shares)	(93,685)
Shares issued to IEA (in shares)	10,428,500

Earnings per share - Narrative

Earnings per share - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	34,965	0
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Total consideration for shares issued at the closing of the Merger	$ 34,965	$ 0
Warrants
Class of Stock [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	8,480,000
Exercise price of warrants (in dollars per share)	$ 11.50
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	34,965
Preferred stock, par value (in dollars per share)	$ 1,000
Total consideration for shares issued at the closing of the Merger	$ 34,965
Preferred stock, dividend rate until the 18-month anniversary of the closing date	6.00%
Preferred stock, dividend payment term	18 months
Preferred stock, dividend rate thereafter	10.00%
Closing price (in dollars per share)	$ 8.83

Accounts receivable, net of a33

Accounts receivable, net of allowance - Accounts receivable, net of allowance (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 40,259	$ 61,197
Less: allowance for doubtful accounts	(216)	(216)	$ (135)	$ (135)
Accounts receivable, net	40,043	60,981
Contract receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	31,961	44,696
Contract retainage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 8,298	$ 16,501

Accounts receivable, net of a34

Accounts receivable, net of allowance - Activity in the allowance for doubtful accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance for doubtful accounts at beginning of period	$ 216	$ 135
Less: (reduction in) provision for allowances	0	0
Less: write-offs, net of recoveries	0	0
Allowance for doubtful accounts at period end	216	135
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer dispute included in gross profit	(3,085)	$ 8,064
One Customer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer dispute included in gross profit	$ 4,700

Contracts in progress - Costs i

Contracts in progress - Costs in excess of billings and billings in excess of costs (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Contractors [Abstract]
Costs on contracts in progress	$ 875,234	$ 861,050
Estimated earnings on contracts in progress	130,134	131,997
Costs on contracts and estimated earnings on contracts in progress	1,005,368	993,047
Less: billings on contracts in progress	(1,023,436)	(981,832)
Costs and estimated earnings in excess of billings on uncompleted contracts	14,928	18,613
Billings in excess of costs and earnings on uncompleted contracts	(32,996)	(7,398)
Net underbillings (overbillings)	(18,068)	11,215
Provision for loss on contracts	$ 872	$ 0

Contracts in progress - Schedul

Contracts in progress - Schedule of contracts receivable, claims and uncertain amounts (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Contractors [Abstract]
Gross amount of unresolved change orders and claims	$ 21,872	$ 33,479
Valuation allowance	0	0
Net amount of unresolved change orders and claims	$ 21,872	$ 33,479

Property, plant and equipment37

Property, plant and equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 48,783		$ 48,675
Accumulated depreciation	(19,712)		(17,770)
Property, plant and equipment, net	29,071		30,905
Depreciation expense	1,942	$ 927
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	480		416
Construction equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	46,448		46,404
Office equipment, furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,451		1,451
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 404		$ 404

Fair value of financial instr38

Fair value of financial instruments - Fair Value Liabilities Measured on Recurring Basis (Details) - Fair value on a recurring basis $ in Thousands	Mar. 31, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 69,373
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 69,373

Fair value of financial instr39

Fair value of financial instruments - Reconciliation of Level 3 Inputs (Details) - Contingent consideration $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance, December 31, 2017	$ 0
Contingent consideration issued during merger	69,373
Ending Balance, March 31, 2018	$ 69,373

Fair value of financial instr40

Fair value of financial instruments - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Contingently issuable shares (in shares)	9,000,000	0

Debt - Long-Term Debt (Details)

Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 60,155	$ 33,674
Less - Current portion	(3,360)	0
Line of credit - short-term	0	(33,674)
Less - Debt issuance costs	(2,144)	0
Long-term debt	54,651	0
Line of credit | Old credit facility (short term)
Debt Instrument [Line Items]
Total debt	0	33,674
Line of credit | New credit facility (long-term)
Debt Instrument [Line Items]
Total debt	36,155	0
Term loan - long term
Debt Instrument [Line Items]
Total debt	$ 24,000	$ 0

Debt - Narrative (Details)

Debt - Narrative (Details)	3 Months Ended
	Mar. 31, 2018USD ($)drawdown	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Long-term debt	$ 60,155,000	$ 33,674,000
Letters of credit contingently liable for	5,684,000	5,934,000
Surety bonds	$ 631,671,000	$ 535,529,000
Line of credit
Debt Instrument [Line Items]
Interest rate on debt	5.76%	4.50%
Line of credit | Old credit facility
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 33,674,000
Line of credit | New credit facility
Debt Instrument [Line Items]
Long-term debt	36,155,000	0
Maximum borrowing capacity	$ 50,000,000
Line of credit | New credit facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate of debt	3.00%
Line of credit | New credit facility | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate of debt	2.00%
Term loan
Debt Instrument [Line Items]
Long-term debt	$ 24,000,000	$ 0
Face amount of loan	$ 50,000,000
Debt instrument, term	2 years
Debt instrument, number of drawdowns | drawdown	4
Percentage of draw equal to amortization of principal	3.50%
Debt instrument, covenant compliance, maximum leverage ratio	2.75
Debt instrument, covenant compliance, minimum liquidity	$ 20,000,000

Debt - Long Term Debt and Capit

Debt - Long Term Debt and Capital Lease Obligations (Details) $ in Thousands	Mar. 31, 2018USD ($)
Debt Disclosure [Abstract]
2,018	$ 9,395
2,019	10,117
2,020	10,117
2,021	52,504
2,022	0
Thereafter	0
Total contractual obligations	$ 82,133

Commitments and contingencies -

Commitments and contingencies - Lease Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Capital lease obligations	$ 19,285		$ 20,590
Capital leased assets, gross	27,005		27,005
Capital leased assets, accumulated depreciation	(4,203)		(2,817)
Capital leased assets, net	22,802		$ 24,188
Operating leases, rent expense	$ 388	$ 593

Commitments and contingencies45

Commitments and contingencies - Deferred Compensation Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)individualplan	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Deferred compensation, number of plans | plan	2
Deferred compensation, number of individuals covered under supplemental executive retirement plan | individual	4
Four individual executives
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Deferred compensation, maximum contractual term	20 years
Deferred compensation, expected payments for next fiscal year	$ 93
Deferred compensation, maximum aggregate payments per year if all participants were retired	255
Deferred compensation, recorded liability	3,339		$ 3,356
Executive management
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Deferred compensation, recorded liability	1,846		$ 1,674
Deferred compensation, compensation expense	$ 1,200	$ 1,053

Commitments and contingencies46

Commitments and contingencies - Legal Proceedings Narrative (Details) $ in Thousands, $ in Thousands	Mar. 26, 2018CAD ($)	Oct. 23, 2017USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2018CAD ($)
Sterret Crane v. White Construction and Zurich Insurance v. White Construction | Jury Verdict
Loss Contingencies [Line Items]
Loss contingency, value of damages awarded		$ 610
Sterret Crane v. White Construction and Zurich Insurance v. White Construction | Pending litigation
Loss Contingencies [Line Items]
Loss contingency, value continued to be sought		$ 659
Sterret Crane v. White Construction and Zurich Insurance v. White Construction | Settled litigation | White Construction
Loss Contingencies [Line Items]
Loss contingency, amount paid			$ 637
Sterret Crane v. White Construction and Zurich Insurance v. White Construction | Settled litigation | Zurich Insurance
Loss Contingencies [Line Items]
Loss contingency, amount paid			$ 314
NPI Litigation/CAA Resolution
Loss Contingencies [Line Items]
Loss contingency, amount paid	$ 1,000
NPI Litigation/CAA Resolution | Material transaction completed before December 31, 2017
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party				$ 1,000

Concentrations (Details)

Concentrations (Details) - Customer Concentration Risk	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Revenue % | Trishe Wind Ohio, LLC
Concentration Risk [Line Items]
Concentration risk percentage	25.80%
Revenue % | Interstate Power and Light Company
Concentration Risk [Line Items]
Concentration risk percentage	18.60%
Revenue % | Great Bay Solar I, LLC
Concentration Risk [Line Items]
Concentration risk percentage	16.60%
Revenue % | Bruenning's Breeze Wind Farm, LLC
Concentration Risk [Line Items]
Concentration risk percentage		29.20%
Revenue % | Cimmarron Ben II Wind Project, LLC
Concentration Risk [Line Items]
Concentration risk percentage		35.20%
Accounts Receivable % | Trishe Wind Ohio, LLC
Concentration Risk [Line Items]
Concentration risk percentage	16.70%		17.00%
Accounts Receivable % | Interstate Power and Light Company
Concentration Risk [Line Items]
Concentration risk percentage	53.40%
Accounts Receivable % | EDF Renewable Development, Inc.
Concentration Risk [Line Items]
Concentration risk percentage			11.00%
Accounts Receivable % | Interstate Power and Light Company
Concentration Risk [Line Items]
Concentration risk percentage			15.00%

Income taxes (Details)

Income taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Contingency [Line Items]
Statutory federal tax rate	21.00%	34.00%
Effective tax rates	16.81%	35.26%
Increase (decrease) in uncertain tax positions	$ 0	$ 0
Minimum
Income Tax Contingency [Line Items]
State tax rate	3.00%
Maximum
Income Tax Contingency [Line Items]
State tax rate	9.99%

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cayman Holdings | Credit Support Fees
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$ 231	$ 425
Oaktree | Clinton Lease Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$ 153
Term of operating lease	20 years