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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net income$ 276$ 32,692
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization71,26164,461
Amortization of premium from senior unsecured bonds(72) 
Accretion of asset retirement obligation1,183888
Stock-based compensation5,0004,637
Amortization of deferred lease income(2,014)(2,014)
Income attributable to sale of tax benefits, net of interest expense(2,243)(2,281)
Equity in income (losses) of investees552(942)
Impairment of auction rate securities205 
Loss on disposal of property, plant and equipment 571
Write-off of unsuccessful exploration activities 3,050
Return on investment in unconsolidated investments 3,734
Changes in unrealized loss in respect of derivative instruments, net11,052 
Gain (loss) on severance pay fund asset282(1,099)
Premium from issuance Senior Unsecured Bonds1,957 
Gain on sale of a subsidiary (6,350)
Gain on acquisition of controlling interest (36,928)
Deferred income tax provision (benefit)(1,805)5,717
Liability for unrecognized tax benefits(1,186)717
Deferred lease revenues233820
Changes in operating assets and liabilities, net of amounts acquired:  
Receivables2,556(5,691)
Costs and estimated earnings in excess of billings on uncompleted contracts2,62813,869
Inventories(5,361)871
Prepaid expenses and other(8,043)(3,995)
Deposits and other(471)(253)
Accounts payable and accrued expenses(9,592)5,571
Due from/to related entities, net(78)(60)
Billings in excess of costs and estimated earnings on uncompleted contracts32,5111,420
Liabilities for severance pay2811,508
Other long-term liabilities(719)(1,091)
Due from/to Parent121(178)
Net cash provided by operating activities98,51479,644
Cash flows from investing activities:  
Return of investment in unconsolidated investments 3,516
Purchases of marketable securities, net(20,287) 
Net change in restricted cash, cash equivalents and marketable securities(36,884)(23,352)
Cash received from sale of a subsidiary 19,594
Capital expenditures(180,771)(194,926)
Cash grant received from the U.S. Treasury under Section 1603 of the ARRA 108,286
Investment in unconsolidated companies(305)(511)
Cash paid for acquisition of controlling interest in a subsidiary, net of cash acquired (64,517)
Intangible assets acquired (875)
Increase (decrease) in severance pay fund asset, net of payments made to retired employees61(235)
Net cash used in investing activities(238,186)(153,020)
Cash flows from financing activities:  
Proceeds from issuance of senior unsecured bonds107,447142,003
Proceeds from the sale of limited liability company interest in OPC LLC, net of transaction costs24,878 
Proceeds from revolving credit lines with banks419,156518,064
Repayment of revolving credit lines with banks(387,300)(535,600)
Repayments of long-term debt(26,002)(37,670)
Cash paid to non-controlling interest(10,769) 
Deferred debt issuance costs(5,552)(493)
Cash dividends paid(5,924)(9,995)
Net cash provided by financing activities115,93476,309
Net change in cash and cash equivalents(23,738)2,933
Cash and cash equivalents at beginning of period82,81546,307
Cash and cash equivalents at end of period59,07749,240
Supplemental non-cash investing and financing activities:  
Increase in accounts payable related to purchases of property, plant and equipment11,0466,153
Accrued liabilities related to financing activities$ 1,309