Note 9 - Business Segments

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 9 — BUSINESS SEGMENTS

The Company has two reporting segments: the Electricity segment and the Product segment. 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, 2015:
Net revenue from external customers	$	90,926	$	49,561	$	140,487
Intersegment revenue		—		10,900		10,900
Operating income (loss)		20,920		17,723		38,643
Segment assets at period end *		2,080,209		196,341		2,276,550
* Including unconsolidated investments		—		—		—
Three Months Ended June 30, 2014:
Net revenue from external customers	$	91,692	$	35,911	$	127,603
Intersegment revenue		—		15,742		15,742
Operating income (loss)		9,521		12,809		22,330
Segment assets at period end *		2,027,211		117,718		2,144,929
* Including unconsolidated investments		3,308		—		3,308
Six Months Ended June 30, 2015:
Net revenue from external customers	$	180,879	$	79,839	$	260,718
Intersegment revenue		—		30,657		30,657
Operating income (loss)		44,874		23,620		68,494
Segment assets at period end *		2,080,209		196,341		2,276,550
* Including unconsolidated investments		—		—		—
Six Months Ended June 30, 2014:
Net revenue from external customers	$	186,509	$	83,530	$	270,039
Intersegment revenue		—		36,336		36,336
Operating income (loss)		40,439		24,462		64,901
Segment assets at period end *		2,027,211		117,718		2,144,929
* Including unconsolidated investments		3,308		—		3,308

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,
			2015			2014			2015			2014
Revenue:
	Total segment revenue		$	140,487		$	127,603		$	260,718		$	270,039
	Intersegment revenue			10,900			15,742			30,657			36,336
	Elimination of intersegment revenue			(10,900	)		(15,742	)		(30,657	)		(36,336	)
		Total consolidated revenue	$	140,487		$	127,603		$	260,718		$	270,039
Operating income:
	Operating income		$	38,643		$	22,330		$	68,494		$	64,901
	Interest income			44			90			53			201
	Interest expense, net			(18,859	)		(22,072	)		(36,687	)		(42,590	)
	Foreign currency translation and transaction gains (losses)			(571	)		(55	)		(1,937	)		(693	)
	Income attributable to sale of equity interest			4,731			6,130			10,283			12,847
	Gain from sale of property, plant and equipment			—			7,628			—			7,628
	Other non-operating income (expense), net			(1,675	)		343			(1,392	)		406
		Total consolidated income before income taxes and equity in income of investees	$	22,313		$	14,394		$	38,814		$	42,700