Note 9 - Business Segments

3 Months Ended

Mar. 31, 2015

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 March 31, 2015:
Net revenues from external customers	$	89,953	$	30,278	$	120,231
Intersegment revenues		—		19,757		19,757
Operating income (loss)		23,954		5,897		29,851
Segment assets at period end *		1,981,813		201,520		2,183,333
* Including unconsolidated investments		—		—		—
Three Months Ended March 31, 2014:
Net revenues from external customers	$	94,817	$	47,619	$	142,436
Intersegment revenues		—		20,594		20,594
Operating income (loss)		30,918		11,653		42,571
Segment assets at period end *		2,003,991		130,356		2,134,347
* Including unconsolidated investments		7,510		—		7,510

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

	Three Months Ended March 31,
	2015			2014
Revenues:
Total segment revenues	$	120,231		$	142,436
Intersegment revenues		19,757			20,594
Elimination of intersegment revenues		(19,757	)		(20,594	)
Total consolidated revenues	$	120,231		$	142,436
Operating income:
Operating income	$	29,851		$	42,571
Interest income		9			111
Interest expense, net		(17,828	)		(20,518	)
Foreign currency translation and transaction losses		(1,366	)		(638	)
Income attributable to sale of equity interest		5,552			6,717
Other non-operating income, net		283			63
Total consolidated income before income taxes and equity in income of investees	$	16,501		$	28,306