Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Business Combinations Policy [Policy Text Block]

Viridity transaction

On

March

15,

2017,

 the Company completed the acquisition of substantially all of the business and assets of Viridity Energy, Inc. (“VEI”), a privately held Philadelphia-based company engaged in the provision of demand response, energy management and energy storage services.

Pursuant to the Asset Purchase Agreement dated as of

December

29,

2016,

Viridity Energy Solutions Inc. (“Viridity”), a wholly owned subsidiary of the Company paid initial consideration of

$35.3

million at closing. Additional contingent consideration with an estimated fair value of $

12.8

million will be payable in

two

installments upon the achievement of certain performance milestones measured at the end of fiscal years

2017

and

2020.

The acquired business and assets are operated by Viridity.

Using proprietary software and solutions, Viridity serves primarily retail energy providers, utilities, and large commercial and industrial customers. Viridity

’s offerings enable its customers to optimize and monetize their energy management, demand response and storage facilities potential by interacting on their behalf with regional transmission organizations and independent system operators.

The Company accounted for the transaction

in accordance with Accounting Standard Codification

805,

Business Combinations, and consequently recorded intangible assets of

$35.0

million primarily relating to Viridity’s storage and non-storage activities with a weighted-average amortization period of

17

years, approximately

$0.3

million of working capital and fixed assets, and

$13.5

million of goodwill. Following the transaction, the Company consolidated Viridity, in accordance with Accounting Standard Codification

810,

Consolidation.

The

revenues of Viridity for the period from

March

15,

2017

to

March

31,

2017

were included in the Company’s consolidated statements of operations and comprehensive income for the

three

months ended

March

31,

2017.

Accounting guidance provides that the allocation of the purchase price

may

be modified for up to

one

year from the date of the acquisition to the extent that additional information is obtained about the facts and circumstances that existed as of the acquisition date.

Comprehensive Income, Policy [Policy Text Block]

Other comprehensive income

For the

three

months ended

March

31,

2017

and

2016,

the Company classified

$2

thousand and

$3

thousand, respectively, related to derivative instruments designated as cash flow hedges, from accumulated other comprehensive income, of which

$3

thousand and

$4

thousand, respectively, was recorded to reduce interest expense and

$1

thousand, in both periods, was recorded against the income tax provision, in the condensed consolidated statements of operations and comprehensive income. The accumulated net loss included in Other comprehensive income as of

March

31,

2017,

is

$0.6

million

Exploratory Drilling Costs Capitalization and Impairment, Policy [Policy Text Block]

Write-offs of unsuccessful exploration activities

Write-off

s of unsuccessful exploration activities for the

three

months ended

March

31,

2017

and

2016

were

$0.0

million and

$0.6

million, respectively. The write-off of exploration costs in

2016

was related to the Company’s exploration activities in Nevada, which the Company determined would not support commercial operations.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentration of credit risk

Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of temporary cash investments and accounts receivable.

The Company places its temporary cash investments with high credit quality financial institutions located in the United States (“U.S.”) and in foreign countries. At

March

31,

2017

and

December

31,

2016,

the Company had deposits totaling $

52.5

million and

$72.5

million, respectively, in

seven

U.S. financial institutions that were federally insured up to

$250,000

per account. At

March

31,

2017

and

December

31,

2016,

the Company’s deposits in foreign countries amounted to approximately

$137.4

million and

$166.2

million, respectively.

At

March

31,

2017

and

December

31,

2016,

accounts receivable related to operations in foreign countries amounted to approximately

$42.2

million and

$53.3

million, respectively. At

March

31,

2017

and

December

31,

2016,

accounts receivable from the Company’s primary customers amounted to approximately

60%

of the Company’s accounts receivable.

Sierra Pacific Power Company and Nevada Power Company (subsidiaries of NV Energy, Inc.) accounted for

18.8%

and

23.2%

of the Company’s total revenues for the

three

months ended

March

31,

2017

and

2016,

respectively.

Kenya Power and Lighting Co. Ltd. accounted for

14.3%

and

17.4%

of the Company’s total revenues for the

three

months ended

March

31,

2017

and

2016,

respectively.

Southern California

Public Power Authority accounted for

9.0%

and

12.1%

of the Company’s total revenues for the

three

months ended

March

31,

2017

and

2016,

respectively.

Hyundai

(Sarulla geothermal power project) accounted for

6.0%

and

9.0%

of the Company’s total revenues for the

three

months ended

March

31,

2017

and

2016,

respectively.

The Company has historically been able to collect on all of its receivable balances, and accordingly, no provision for doubtful accounts has been made.