BUSINESS SEGMENTS

9 Months Ended

Sep. 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 September 30, 2011:
Net revenues from external customers	$	86,815	$	24,026	$	110,841
Intersegment revenues		—		15,264		15,264
Operating income		21,087		3,121		24,208
Segment assets at period end *		2,121,932		88,789		2,210,721
* Including unconsolidated investments		2,287		1,710		3,997
Three Months Ended September 30, 2010:
Net revenues from external customers	$	83,357	$	18,120	$	101,477
Intersegment revenues		—		10,977		10,977
Operating income		13,461		1,357		14,818
Segment assets at period end *		1,895,469		69,240		1,964,709
* Including unconsolidated investments		2,040		—		2,040

	Electricity		Product		Consolidated
	(Dollars in thousands)
Nine Months Ended September 30, 2011:
Net revenues from external customers	$	246,273	$	67,002	$	313,275
Intersegment revenues		—		46,013		46,013
Operating income		34,917		11,784		46,701
Segment assets at period end *		2,121,932		88,789		2,210,721
* Including unconsolidated investments		2,287		1,710		3,997
Nine Months Ended September 30, 2010:
Net revenues from external customers	$	218,269	$	62,128	$	280,397
Intersegment revenues		—		39,273		39,273
Operating income		11,447		7,883		19,330
Segment assets at period end *		1,895,469		69,240		1,964,709
* Including unconsolidated investments		2,040		—		2,040

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2011			2010			2011			2010
	(Dollars in thousands)						(Dollars in thousands)
Operating income	$	24,208		$	14,818		$	46,701		$	19,330
Interest income		438			140			1,289			432
Interest expense, net		(23,909	)		(10,961	)		(54,431	)		(30,101	)
Foreign currency translation and transaction gains (losses)		(2,659	)		1,074			(1,546	)		475
Income attributable to sale of equity interest		2,344			2,183			7,624			6,392
Gain on acquisition of controlling interest		—			36,928			—			36,928
Other non-operating income (expense), net		347			233			465			(47	)
Total income from continuing operations, before income taxes and equity in income (losses) of investees	$	769		$	44,415		$	102		$	33,409