XML 66 R2.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 97,602 $ 98,802
Restricted cash and cash equivalents (primarily related to VIEs) 82,435 78,693
Receivables:    
Trade 139,226 137,581
Other 18,482 19,393
Inventories 39,324 45,024
Costs and estimated earnings in excess of billings on uncompleted contracts [1] 43,125 42,130
Prepaid expenses and other 12,116 51,441
Total current assets 432,310 473,064
Investment in an unconsolidated company 73,714 71,983
Deposits and other 21,078 18,209
Deferred income taxes 131,820 113,760
Property, plant and equipment, net 1,962,637 1,959,578
Construction-in-process 352,013 261,690
Operating leases right of use 58,170 0
Finance leases right of use 18,046 0
Deferred financing and lease costs, net 957 3,242
Intangible assets, net 188,815 199,874
Goodwill 19,933 19,950
Total assets 3,259,493 [2] 3,121,350
Current liabilities:    
Accounts payable and accrued expenses 137,176 116,362
Short term revolving credit lines with banks (full recourse) 0 159,000
Commercial paper 50,000 0
Billings in excess of costs and estimated earnings on uncompleted contracts 6,003 18,402
Current portion of long-term debt:    
Senior secured notes 39,393 33,493
Other loans 34,135 29,687
Full recourse 76,572 5,000
Operating lease liabilities 6,253 0
Finance lease liabilities 3,191 0
Total current liabilities 352,723 361,944
Long-term debt, net of current portion:    
Senior secured notes (less deferred financing costs of $6,597 and $7,434, respectively) 344,924 375,337
Other loans (less deferred financing costs of $10,797 and $9,354, respectively) 326,227 320,242
Senior unsecured bonds (less deferred financing costs of $727 and $758, respectively) 286,401 303,575
Other loans (less deferred financing costs of $1,564 and $921, respectively) 73,384 41,579
Operating lease liabilities 17,698 0
Finance lease liabilities 12,224 0
Liability associated with sale of tax benefits 118,811 69,893
Deferred lease income 43,264 48,433
Deferred income taxes 86,475 61,323
Liability for unrecognized tax benefits 15,053 11,769
Liabilities for severance pay 18,570 17,994
Asset retirement obligation 44,810 39,475
Other long-term liabilities 5,400 16,087
Total liabilities 1,745,964 1,667,651
Commitments and contingencies (Note 10)
Redeemable noncontrolling interest 8,741 8,603
Equity:    
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 50,993,861 and 50,699,781 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively 51 51
Additional paid-in capital 910,651 901,363
Retained earnings 480,879 422,222
Accumulated other comprehensive income (loss) (10,848) (3,799)
Total stockholders' equity attributable to Company's stockholders 1,380,733 1,319,837
Noncontrolling interest 124,055 125,259
Total equity 1,504,788 1,445,096
Total liabilities, redeemable noncontrolling interest and equity $ 3,259,493 $ 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 sheets.
[2] Electricity segment assets include goodwill in the amount of $19.9 million and $26.7 million as of September 30, 2019 and 2018, respectively. Other segment assets include goodwill in the amount of $13.5 million as of September 30, 2018. No goodwill is included in the Other segment assets as of September 30, 2019.