Note 9 - Business Segments

9 Months Ended

Sep. 30, 2014

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 September 30, 2014:
Net revenues from external customers	$	102,506	$	37,736	$	140,242
Intersegment revenues		—		7,244		7,244
Operating income		32,411		11,377		43,788
Segment assets at period end *		2,083,715		88,198		2,171,913
* Including unconsolidated investments		1,339		—		1,339
Three Months Ended September 30, 2013:
Net revenues from external customers	$	88,994	$	41,755	$	130,749
Intersegment revenues		—		4,329		4,329
Operating income		20,732		9,065		29,797
Segment assets at period end *		2,048,021		120,314		2,168,335
* Including unconsolidated investments		5,419		—		5,419
Nine Months Ended September 30, 2014:
Net revenues from external customers	$	289,015	$	121,266	$	410,281
Intersegment revenues		—		43,580		43,580
Operating income		72,850		35,839		108,689
Segment assets at period end *		2,083,715		88,198		2,171,913
* Including unconsolidated investments		1,339		—		1,339
Nine Months Ended September 30, 2013:
Net revenues from external customers	$	245,005	$	157,329	$	402,334
Intersegment revenues		—		29,731		29,731
Operating income		42,057		33,286		75,343
Segment assets at period end *		2,048,021		120,314		2,168,335
* Including unconsolidated investments		5,419		—		5,419

          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,
	2014			2013			2014			2013
	(Dollars in thousands)						(Dollars in thousands)
Operating income	$	43,788		$	29,797		$	108,689		$	75,343
Interest income		35			742			236			870
Interest expense, net		(22,494	)		(18,459	)		(65,084	)		(51,826	)
Foreign currency translation and transaction gains (losses)		(2,946	)		1,258			(3,639	)		3,844
Income attributable to sale of tax benefits		5,487			5,027			18,334			14,342
Gain from sale of property, plant and equipment		—			—			7,628			—
Other non-operating income, net		243			137			649			1,583
Total income, before income taxes, discontinued operations and equity in income (losses) of investees	$	24,113		$	18,502		$	66,813		$	44,156