XML 18 R2.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 79,366 $ 98,802
Restricted cash and cash equivalents (primarily related to VIEs) 93,098 78,693
Receivables:    
Trade 139,870 137,581
Other 18,319 19,393
Inventories 42,982 45,024
Costs and estimated earnings in excess of billings on uncompleted contracts [1] 29,762 42,130
Prepaid expenses and other 18,224 51,441
Total current assets 421,621 473,064
Investment in an unconsolidated company 71,885 71,983
Deposits and other 18,154 18,209
Deferred income taxes 109,821 113,760
Property, plant and equipment, net 1,962,580 1,959,578
Construction-in-process 266,083 261,690
Operating leases right of use 60,656
Finance leases right of use 14,433
Deferred financing and lease costs, net 1,733 3,242
Intangible assets, net 196,125 199,874
Goodwill 20,123 19,950
Total assets 3,143,214 [2] 3,121,350
Current liabilities:    
Accounts payable and accrued expenses 108,309 116,362
Short term revolving credit lines with banks (full recourse) 60,900 159,000
Billings in excess of costs and estimated earnings on uncompleted contracts 15,508 18,402
Current portion of long-term debt:    
Senior secured notes 33,639 33,493
Other loans 29,687 29,687
Full recourse 9,368 5,000
Operating lease liabilities 7,532
Finance lease liabilities 3,147
Total current liabilities 268,090 361,944
Long-term debt, net of current portion:    
Senior secured notes (less deferred financing costs of $7,149 and $7,434, respectively) 367,142 375,337
Other loans (less deferred financing costs of $9,262 and $9,354, respectively) 312,779 320,242
Senior unsecured bonds (less deferred financing costs of $706 and $758, respectively) 353,626 303,575
Other loans (less deferred financing costs of $1,483 and $921, respectively) 78,149 41,579
Operating lease liabilities 17,667
Finance lease liabilities 11,954
Liability associated with sale of tax benefits 68,852 69,893
Deferred lease income 47,658 48,433
Deferred income taxes 68,005 61,323
Liability for unrecognized tax benefits 12,482 11,769
Liabilities for severance pay 18,400 17,994
Asset retirement obligation 41,246 39,475
Other long-term liabilities 5,464 16,087
Total liabilities 1,671,514 1,667,651
Commitments and contingencies (Note 10)
Redeemable noncontrolling interest 8,705 8,603
Equity:    
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 50,752,101 and 50,699,781 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively 51 51
Additional paid-in capital 903,723 901,363
Retained earnings 442,531 422,222
Accumulated other comprehensive income (loss) (5,956) (3,799)
Total stockholders' equity attributable to Company's stockholders 1,340,349 1,319,837
Noncontrolling interest 122,646 125,259
Total equity 1,462,995 1,445,096
Total liabilities, redeemable noncontrolling interest and equity $ 3,143,214 $ 3,121,350
[1] Contract assets and contract liabilities are presented as "Costs and estimated earnings in excess of billings on uncompleted contracts" and "Billings in excess of costs and estimated earnings on uncompleted contracts", respectively, on the consolidated balance sheet.
[2] Electricity segment assets include goodwill in the amount of $20.1 million and $7.8 million as of March 31, 2019 and 2018, respectively. Other segment assets include goodwill in the amount of $13.5 million as of March 31, 2018. No goodwill is included in the Other segments assets as of March 31, 2019.