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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Cash flows from operating activities:      
Net income $ 110,111 $ 147,109 $ 96,294
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 132,233 115,146 105,977
Amortization of premium from senior unsecured bonds (513)
Accretion of asset retirement obligation 2,474 1,874 1,778
Stock-based compensation 10,218 8,760 5,157
Amortization of deferred lease income (2,685) (2,685) (2,685)
Income attributable to sale of tax benefits, net of interest expense (8,609) (11,956) (6,962)
Equity in losses (earnings) of investees (7,663) 1,957 7,735
Mark-to-market of derivative instruments 2,032 (1,473) 319
Write-off of unsuccessful exploration activities 126 1,796 3,017
Impairment charge 13,464
Loss (gain) on severance pay fund asset 1,186 (1,746) (304)
Deferred income tax provision and deferred charges 19,360 (41,147) 23,222
Liability for unrecognized tax benefits 2,879 3,270 (4,174)
Deferred lease revenues (402) (356) (853)
Gain from insurance recoveries (4,463)
Other 100 737
Changes in operating assets and liabilities, net of businesses acquired:      
Receivables (29,928) (24,040) (33,280)
Costs and estimated earnings in excess of billings on uncompleted contracts (1,185) 11,253 (27,078)
Inventories (9,318) (1,070) 6,297
Prepaid expenses and other (11,172) 208 (12,540)
Deposits and other 18 (2,570) (1,009)
Accounts payable and accrued expenses (56,724) 51,641 (1,375)
Billings in excess of costs and estimated earnings on uncompleted contracts (1,839) (11,389) (2,262)
Liabilities for severance pay (3,147) 2,541 (786)
Other long-term liabilities (11,244) (2,285) 3,310
Net cash provided by operating activities 145,822 245,575 159,285
Cash flows from investing activities:      
Capital expenditures (258,521) (259,234) (151,930)
Cash received from insurance recoveries related to destroyed equipment 10,427
Investment in unconsolidated companies (3,800) (46,318) (3,569)
Cash paid for acquisition of controlling interest in a subsidiary, net of cash acquired (95,093) (35,300) (20,135)
Intangible assets acquired (868)
Decrease (increase) in severance pay fund asset, net of payments made to retired employees 2,186 526 1,862
Net cash used in investing activities (342,434) (345,526) (173,772)
Cash flows from financing activities:      
Proceeds from sale of membership interests to noncontrolling interest, net of transaction costs 3,174 44,102
Proceeds from long-term loans, net of transaction costs 214,700 142,500
Proceeds from exercise of options by employees 16,111 7,249
Proceeds from issuance of senior unsecured notes, net of transaction costs 203,483
Purchase of Senior unsecured notes (249,468)
Proceeds from the sale of limited liability company interest in Tungsten, net of transaction costs 4,134 2,017 1,972
Purchase of OFC Senior Secured Notes (14,270) (6,815)
Proceeds from revolving credit lines with banks 4,097,000 1,097,500 309,400
Repayment of revolving credit lines with banks (3,989,500) (1,046,000) (309,400)
Cash paid for achievement of production threshold in GB (8,032)
Repayments of long-term debt (62,774) (66,223) (62,052)
Cash paid to noncontrolling interest (13,106) (21,313) (64,065)
Payments of capital leases (2,551) (1,871) (1,178)
Deferred debt issuance costs (5,287) (5,290) (6,402)
Cash dividends paid (26,834) (20,511) (25,682)
Net cash provided by (used in) financing activities 251,131 (67,882) 43,541
Effect of exchange rate changes (660)
Net change in cash and cash equivalents and restricted cash and cash equivalents 53,859 (167,833) 29,054
Restricted cash and cash equivalents acquired in a business combination 26,993
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 96,643 264,476 235,422
Cash and cash equivalents and restricted cash and cash equivalents at end of period 177,495 96,643 264,476
Supplemental disclosure of cash flow information:      
Interest, net of interest capitalized 53,864 40,484 55,366
Income taxes, net 18,028 21,878 18,490
Supplemental non-cash investing and financing activities:      
Increase (decrease) in accounts payable related to purchases of property, plant and equipment (6,878) 4,484 (2,219)
Accrued liabilities related to financing activities 8,584 6,291
Increase (decrease) in asset retirement cost and asset retirement obligation 881 1,888 714
Tungsten [Member]      
Cash flows from financing activities:      
Proceeds from the sale of limited liability company interest in Tungsten, net of transaction costs 32,175 59,897
Ormat Nevada ORTP LLC [Member]      
Cash flows from investing activities:      
Buyout of Class B membership in ORTP (2,400)
OPC LLC [Member]      
Cash flows from investing activities:      
Buyout of Class B membership in OPC $ 2,367 $ (1,932)