Note 9 - Business Segments

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 9 — 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 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, 2013:
Net revenues from external customers	$	87,713	$	64,966	$	152,679
Intersegment revenues		-		18,821		18,821
Operating income		22,639		15,223		37,862
Segment assets at period end *		2,039,219		98,681		2,137,900
* Including unconsolidated investments		3,524		-		3,524
Three Months Ended June 30, 2012:
Net revenues from external customers	$	81,882	$	44,826	$	126,708
Intersegment revenues		-		8,941		8,941
Operating income		16,567		7,816		24,383
Segment assets at period end *		2,204,421		89,679		2,294,100
* Including unconsolidated investments		2,438		1,345		3,783
Six Months Ended June 30, 2013:
Net revenues from external customers	$	156,011	$	115,574	$	271,585
Intersegment revenues		-		25,402		25,402
Operating income		21,325		24,221		45,546
Segment assets at period end *		2,039,219		98,681		2,137,900
* Including unconsolidated investments		3,524		-		3,524
Six Months Ended June 30, 2012:
Net revenues from external customers	$	161,225	$	94,931	$	256,156
Intersegment revenues		-		21,907		21,907
Operating income		31,365		17,683		49,048
Segment assets at period end *		2,204,421		89,679		2,294,100
* Including unconsolidated investments		2,438		1,345		3,783

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,
	2013			2012			2013			2012
	(Dollars in thousands)						(Dollars in thousands)
Operating income	$	37,862		$	24,383		$	45,546		$	49,048
Interest income		87			336			128			724
Interest expense, net		(17,504	)		(14,263	)		(33,367	)		(29,141	)
Foreign currency translation and transaction gains (losses)		904			(1,756	)		2,586			(1,742	)
Income attributable to sale of tax benefits		5,783			2,589			9,315			5,106
Other non-operating income, net		29			286			1,446			122
Total income, before income taxes, discontinued operations and equity in income (losses) of investees	$	27,161		$	11,575		$	25,654		$	24,117