BUSINESS SEGMENTS

6 Months Ended

Jun. 30, 2011

BUSINESS SEGMENTS

NOTE 14 — BUSINESS SEGMENTS

The Company has two reporting segments: Electricity and Product Segments. These segments are managed and reported separately as each offers different products and serves different markets. The Electricity Segment is engaged in the sale of electricity from the Company’s power plants pursuant to power purchase agreements (“PPAs”). The Product Segment is engaged in the manufacture, including design and development, of turbines and power units for the supply of electrical energy and in the associated construction of power plants utilizing the power units manufactured by the Company to supply energy from geothermal fields and other alternative energy sources. Transfer prices between the operating segments are determined based on current market values or cost plus markup of the seller’s business segment.

Summarized financial information concerning the Company’s reportable segments is shown in the following tables:

	Electricity			Product		Consolidated
	(Dollars in thousands)
Three Months Ended June 30, 2011:
Net revenues from external customers	$	81,190		$	23,424	$	104,614
Intersegment revenues		—			17,387		17,387
Operating income		9,827			9,547		19,374
Segment assets at period end *		2,017,476			93,337		2,110,813
* Including unconsolidated investments		2,287			1,781		4,068
Three Months Ended June 30, 2010:
Net revenues from external customers	$	68,807		$	27,459	$	96,266
Intersegment revenues		—			21,102		21,102
Operating income (loss)		(5,109	)		7,416		2,307
Segment assets at period end *		1,867,982			72,777		1,940,759
* Including unconsolidated investments		29,876			—		29,876
	Electricity			Product		Consolidated
	(Dollars in thousands)
Six Months Ended June 30, 2011:
Net revenues from external customers	$	159,458		$	42,976	$	202,434
Intersegment revenues		—			30,749		30,749
Operating income		13,831			8,662		22,493
Segment assets at period end *		2,017,476			93,337		2,110,813
* Including unconsolidated investments		2,287			1,781		4,068
Six Months Ended June 30, 2010:
Net revenues from external customers	$	134,912		$	44,008	$	178,920
Intersegment revenues		—			28,296		28,296
Operating income (loss)		(2,014	)		6,526		4,512
Segment assets at period end *		1,867,982			72,777		1,940,759
* Including unconsolidated investments		29,876			—		29,876

Reconciling information between reportable segments and the Company’s consolidated totals is shown in the following table:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
	(Dollars in thousands)						(Dollars in thousands)
Operating income	$	19,374		$	2,307		$	22,493		$	4,512
Interest income		716			95			851			292
Interest expense, net		(17,442	)		(9,426	)		(30,522	)		(19,140	)
Foreign currency translation and transaction gains (losses)		596			(1,033	)		1,113			(599	)
Income attributable to sale of equity interest		3,141			2,070			5,280			4,209
Other non-operating income (expense), net		915			79			118			(280	)
Total income (loss) from continuing operations, before income taxes and equity in income (losses) of investees	$	7,300		$	(5,908	)	$	(667	)	$	(11,006	)