Subsequent Events

PG&E Bankruptcy Filing

On January 29, 2019, Pacific Gas & Electric Company, and its parent Company PG&E Corporation (“PG&E”), our largest utility customer, filed voluntary bankruptcy petitions under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California. PG&E approximated 12% of revenues during 2018, 11% in 2017 and 12% in 2016. As a utility company, PG&E serves residential and industrial customers in California and has an ongoing obligation to continue to serve its customers, and we continue to perform under our contracts with PG&E post-petition. As of the date of the bankruptcy filing, we had pre-petition accounts receivable of approximately $13,000 which we believe to be collectible. While uncertainty exists as to the outcome of the bankruptcy proceedings, we do not anticipate PG&E's bankruptcy to have a material impact on our future cash flows and results of operations.

AR Securitization

On January 24, 2019, we amended our AR securitization facility to address insolvency proceedings, specifically those receivables from PG&E Corporation and its regulated utility subsidiary, Pacific Gas and Electric Company (collectively “Pacific Gas & Electric”), which filed voluntary bankruptcy petitions under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California. Under the terms of the receivable financing agreement, receivables from Pacific Gas and Electric, while remaining in the securitized pool, will be considered ineligible and are excluded from performance ratios and reserves.

Acquisition of Businesses

Subsequent to December 31, 2018 and through March 11, 2019, we acquired two businesses approximating $3,950 with no liabilities assumed and debt issued of $1,092. The acquired companies are in our Residential and Commercial segment in the Houston, Texas and Omaha, Nebraska markets. The effect of these acquisitions on our consolidated revenues and results of operations, either individually or in the aggregate, are not significant.


F.	Subsequent Events (continued)

Issuance of Debt

On February 5, 2019 we issued 4.00% Senior Notes, Series B (the "4.00% Senior Notes") pursuant to the Note Purchase and Shelf Agreement in the aggregate principal amount of $25,000. The notes are due September 21, 2028. Subsequent series of promissory notes may be issued pursuant to the Note Purchase and Shelf Agreement in an aggregate additional principal amount not to exceed $25,000. The 4.00% Senior Notes are equal in right of payment with our revolving credit facility and all other senior unsecured obligations of the Company. Interest is payable semiannually and 5 equal, annual principal payments commence on September 21, 2024 (the sixth anniversary of issuance of the 3.99% Senior Notes).