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Note 5 - Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Notes Tables

Fair Value, by Balance Sheet Grouping [Table Text Block]

						June 30, 2022
						Fair Value
		Carrying Value at June 30, 2022				Total				Level 1				Level 2				Level 3
		(Dollars in thousands)
Assets:
Current assets:
Cash equivalents (including restricted cash accounts)		$	24,407			$	24,407			$	24,407			$	—			$	—
Marketable securities (including cash equivalents)			136				136				136				—				—
Long-term Assets:
Cross currency swap ⁽³⁾			2,331				2,331				—				2,331				—
Liabilities:
Current liabilities:
Derivatives:
Cross currency swap ⁽³⁾			(2,402	)			(2,402	)			—				(2,402	)			—
Currency forward contracts ⁽²⁾			(3,098	)			(3,098	)			—				(3,098	)			—
Long term liabilities:
Contingent payables ⁽¹⁾			(2,246	)			(2,246	)			—				—				(2,246	)
		$	19,128			$	19,128			$	24,543			$	(3,169	)		$	(2,246	)

						December 31, 2021
						Fair Value
		Carrying Value at December 31, 2021				Total				Level 1				Level 2				Level 3
		(Dollars in thousands)
Assets
Current assets:
Cash equivalents (including restricted cash accounts)		$	31,675			$	31,675			$	31,675			$	—			$	—
Marketable securities			47,029				47,029				47,029				—				—
Derivatives:
Cross currency swap ⁽³⁾			1,461				1,461				—				1,461				—
Currency forward contracts ⁽²⁾			813				813				—				813				—
Long-term assets:
Cross currency swap ⁽³⁾			37,883				37,883				—				37,883				—
Liabilities:
Long-term liabilities:
Contingent payables ⁽¹⁾			(2,425	)			(2,425	)			—				—				(2,425	)
		$	116,436			$	116,436			$	78,704			$	40,157			$	(2,425	)

Derivative Instruments, Gain (Loss) [Table Text Block]

				Amount of recognized gain (loss)								Amount of recognized gain (loss)
Derivatives not designated as hedging instruments		Location of recognized gain (loss)		Three Months Ended June 30,								Six Months Ended June 30,
				2022				2021				2022				2021
				(Dollars in thousands)								(Dollars in thousands)
Swap transaction on Responsive Reserve System ("RRS") prices ⁽¹⁾		Derivative and foreign currency transaction gains (losses)		$	—			$	—				—				(14,540	)
Currency forward contracts ⁽¹⁾		Derivative and foreign currency transaction gains (losses)		$	(4,498	)		$	1,200			$	(4,706	)		$	(269	)

Derivatives designated as cash flow hedging instruments

Cross currency swap ⁽²⁾		Derivative and foreign currency transaction gains (losses)		$	(28,733	)		$	6,808			$	(35,415	)		$	(4,294	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

		Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
		(Dollars in thousands)								(Dollars in thousands)
Cross currency swap cash flow hedge:
Balance in Accumulated other comprehensive income (loss) beginning of period		$	3,840			$	568			$	5,745			$	3,366
Gain or (loss) recognized in Other comprehensive income (loss)			(30,828	)			7,006				(39,415	)			(6,894	)
Amount reclassified from Other comprehensive income (loss) into earnings			28,733				(6,808	)			35,415				4,294
Balance in Accumulated other comprehensive income (loss) end of period		$	1,745			$	766			$	1,745			$	766

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

		Fair Value								*Carrying Amount ^()**
		June 30, 2022				December 31, 2021				June 30, 2022				December 31, 2021
		(Dollars in millions)								(Dollars in millions)
Mizrahi Loan		$	78.1			$	—			$	75.0			$	—
Convertible Senior Notes			431.3				—				431.3				—
HSBC Loan			44.5				50.4				46.4				50.0
Hapoalim Loan			101.5				117.8				107.1				116.1
Discount Loan			88.6				100.2				93.8				100.0
Finance liability - Dixie Valley			230.4				248.4				249.1				252.9
Olkaria III Loan - DFC			146.0				166.5				147.7				156.7
Olkaria III plant 4 Loan - DEG 2			29.5				34.1				30.0				32.5
Olkaria III plant 1 Loan - DEG 3			26.0				30.1				26.2				28.4
Platanares Loan - DFC			86.2				98.2				84.0				88.1
Amatitlan Loan			17.1				19.8				17.5				19.3
OFC 2 LLC ("OFC 2")			159.7				183.3				164.9				173.3
Don A. Campbell 1 ("DAC 1")			60.7				69.8				64.8				67.9
USG Prudential - NV			25.3				28.9				25.8				26.3
USG Prudential - ID			16.3				17.3				16.4				17.3
USG DOE			34.9				39.9				34.2				35.5
Senior Unsecured Bonds			273.7				578.9				257.1				539.6
Senior Unsecured Loan			179.5				204.3				183.2				191.6
Plumstriker			13.2				14.8				13.2				14.7
Other long-term debt			10.6				13.3				11.2				13.6

^(*) Carrying amount value excludes the related deferred financing costs.

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]

		Level 1				Level 2				Level 3				Total
		(Dollars in millions)
Mizrahi Loan		$	—			$	—			$	78.1			$	78.1
Convertible Senior Notes			—				431.3				—				431.3
HSBC Loan			—				—				44.5				44.5
Hapoalim Loan			—				—				101.5				101.5
Discount Loan			—				—				88.6				88.6
Finance liability - Dixie Valley			—				—				230.4				230.4
Olkaria III Loan - DFC			—				—				146.0				146.0
Olkaria III plant 4 Loan - DEG 2			—				—				29.5				29.5
Olkaria III plant 1 Loan - DEG 3			—				—				26.0				26.0
Platanares Loan - DFC			—				—				86.2				86.2
Amatitlan Loan			—				17.1				—				17.1
OFC 2 Senior Secured Notes			—				—				159.7				159.7
DAC 1 Senior Secured Notes			—				—				60.7				60.7
USG Prudential - NV			—				—				25.3				25.3
USG Prudential - ID			—				—				16.3				16.3
USG DOE			—				—				34.9				34.9
Senior Unsecured Bonds			—				—				273.7				273.7
Senior Unsecured Loan			—				—				179.5				179.5
Plumstriker			—				13.2				—				13.2
Other long-term debt			—				—				10.6				10.6
Deposits			15.0				—				—				15.0

		Level 1				Level 2				Level 3				Total
		(Dollars in millions)
HSBC Loan		$	—			$	—			$	50.4			$	50.4
Hapoalim Loan			—				—				117.8				117.8
Discount Loan			—				—				100.2				100.2
Financing Liability - Dixie Valley			—				—				248.4				248.4
Olkaria III Loan - DFC			—				—				166.5				166.5
Olkaria IV - DEG 2			—				—				34.1				34.1
Olkaria IV - DEG 3			—				—				30.1				30.1
Platanares Loan - DFC			—				—				98.2				98.2
Amatitlan Loan			—				19.8				—				19.8
OFC 2 Senior Secured Notes			—				—				183.3				183.3
DAC 1 Senior Secured Notes			—				—				69.8				69.8
USG Prudential - NV			—				—				28.9				28.9
USG Prudential - ID			—				—				17.3				17.3
USG DOE			—				—				39.9				39.9
Senior Unsecured Bonds			—				—				578.9				578.9
Senior Unsecured Loan			—				—				204.3				204.3
Plumstriker			—				14.8				—				14.8
Other long-term debt			—				—				13.3				13.3
Deposits			17.1				—				—				17.1