10.
Disaggregation of Revenue
For the years ended December 31, 2021 and 2020, revenue recognized for goods and services
transferred over time totaled $3,339,069 and $2,777,693, respectively.
For the year ended December 31, 2021, approximately 58% of revenues were from large-
contract customers, 25% of revenues were from small contract customers (con-ops), and 17%
of revenues were from residential maintenance and other customers. For the year ended
December 31, 2020, approximately 62% of revenues were from large-contract customers,
21% of revenues were from small contract customers (con-ops), and 17% of revenues were
from residential maintenance and other customers. In addition, substantially all of the
Company's contracts were service-related type contracts.
Income Taxes
The components of the federal and state income tax provision (benefit) as of December 31,
2021 and 2020 were as follows:
(in thousands) 2021 2020
Federal S (151) S 656
State (5) (116)
Amortization of investment tax credits (33) (33)
Total S$ (189) $ 507
Current S$ (127) $ 33
Deferred (62) 474
Total S (189) $ 507
The following is a reconciliation between the statutory federal income tax rate and the
effective income tax rate for 2021 and 2020:
2021 2020
Statutory federal rate 21.0 % 21.0 %
State tax rate, net of federal benefits 6.1 6.1
Permanent differences (23.0) (63.6)
Amortization of investment tax credits 0.9 2.2
Effective tax rate 5.0 % (34.3) %
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