Note 19 - Business Segments

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 19 — 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 were determined 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)
Year Ended December 31, 2013:
Net revenues from external customers	$	329,747		$	203,492	$	533,239
Intersegment revenues		—			37,248		37,248
Depreciation and amortization expense		88,853			4,079		92,932
Operating income (loss)		54,265			42,693		96,958
Segment assets at period end *		2,017,838			141,595		2,159,433
Expenditures for long-lived assets		203,047			1,581		204,628
* Including unconsolidated investments		7,076			—		7,076
Year Ended December 31, 2012, as revised:
Net revenues from external customers	$	314,894		$	186,879	$	501,773
Intersegment revenues		—			48,315		48,315
Depreciation and amortization expense		95,927			3,557		99,484
Operating income (loss)		(189,994	)		30,098		(159,896	)
Segment assets at period end *		1,990,490			97,033		2,087,523
Expenditures for long-lived assets		228,289			4,731		233,020
* Including unconsolidated investments		2,591			—		2,591
Year Ended December 31, 2011:
Net revenues from external customers	$	312,296		$	113,160	$	425,456
Intersegment revenues		—			80,712		80,712
Depreciation and amortization expense		90,464			3,070		93,534
Operating income		42,926			18,629		61,555
Segment assets at period end *		2,222,836			91,882		2,314,718
Expenditures for long-lived assets		266,258			3,419		269,677
* Including unconsolidated investments		2,215			1,542		3,757

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

	Year Ended December 31,
	2013			2012 As Revised			2011
	(Dollars in thousands)
Revenues:
Total segment revenues	$	533,239		$	501,773		$	425,456
Intersegment revenues		37,248			48,315			80,712
Elimination of intersegment revenues		(37,248	)		(48,315	)		(80,712	)
Total consolidated revenues	$	533,239		$	501,773		$	425,456
Operating income:
Operating income (loss)	$	96,958		$	(159,896	)	$	61,555
Interest income		1,332			1,201			1,427
Interest expense, net		(73,776	)		(64,069	)		(69,459	)
Foreign currency translation and transaction gains (losses)		5,085			242			(1,350	)
Income attributable to sale of equity interest		19,945			10,127			11,474
Other non-operating income, net		1,592			590			671
Total consolidated income (loss) before income taxes and equity in income of investees	$	51,136		$	(211,805	)	$	4,318

The Company sells electricity and products for power plants and others, mainly to the geographical areas according to location of the customers, as detailed below. The following tables present certain data by geographic area:

	Year Ended December 31,
	2013		2012 As Revised		2011
	(Dollars in thousands)
Revenues from external customers attributable to: (1)
North America	$	314,666	$	271,845	$	254,265
Pacific Rim		20,082		109,177		32,174
Latin America		21,879		27,939		27,377
Africa		68,746		40,885		36,307
Far East		10,582		2,075		13,363
Europe		97,284		49,852		61,970
Consolidated total	$	533,239	$	501,773	$	425,456

⁽¹⁾ Revenues as reported in the geographic area in which they originate.

	Year Ended December 31,
	2013		2012 As Revised		2011
	(Dollars in thousands)
Long-lived assets (primarily power plants and related assets) located in:
North America	$	1,387,449	$	1,358,877	$	1,686,088
Latin America		63,972		67,536		81,472
Africa		338,395		274,395		174,854
Europe		12,787		14,859		13,932
Pacific Rim and Far East		671		210		—
Consolidated total	$	1,803,274	$	1,715,877	$	1,956,346

The following table presents revenues from major customers:

	Year Ended December 31,
	2013				2012 As Revised				2011
	Revenues		%		Revenues		%		Revenues		%
	(Dollars in thousands)				(Dollars in thousands)				(Dollars in thousands)
Southern California Edison(1)	$	75,562		14.2	$	90,239		18.0	$	121,049		28.5
Hawaii Electric Light Company (1)		48,825		9.2		48,606		9.7		46,432		10.9
Sierra Pacific Power Company and
Nevada Power Company (1)(2)		94,111		17.6		78,631		15.7		56,778		13.3
Mighty River Power Limited (3)		19,174		3.6		99,617		19.9		19,956		4.7
KPLC (1)		61,876		11.6		40,887		8.1		35,179		8.3

⁽¹⁾Revenues reported in Electricity Segment.

⁽²⁾Subsidiaries of NV Energy, Inc.

⁽³⁾Revenues reported in Products Segment.