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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 414,856 $ 95,872
Restricted cash and cash equivalents (primarily related to VIEs) 107,466 130,804
Receivables:    
Trade less allowance for credit losses of $90 and $90, respectively (primarily related to VIEs) 144,199 128,818
Other 36,409 32,415
Inventories 45,447 22,832
Costs and estimated earnings in excess of billings on uncompleted contracts [1] 17,136 16,405
Prepaid expenses and other 45,474 29,571
Total current assets 810,987 456,717
Investment in unconsolidated companies 119,185 115,693
Deposits and other 36,920 39,762
Deferred income taxes 155,966 161,365
Property, plant and equipment, net 2,541,677 2,493,457
Construction-in-process 905,505 893,198
Operating leases right of use 22,770 23,411
Finance leases right of use 4,277 3,806
Intangible assets, net 327,537 333,845
Goodwill 90,446 90,325
Total assets 5,015,270 [2],[3] 4,611,579
Current liabilities:    
Accounts payable and accrued expenses 172,751 149,423
Billings in excess of costs and estimated earnings on uncompleted contracts 24,651 8,785
Current portion of long-term debt:    
Limited and non-recourse (primarily related to VIEs) 63,465 64,044
Full recourse 110,706 101,460
Financing liability 15,454 16,270
Operating lease liabilities 2,381 2,347
Finance lease liabilities 1,552 1,581
Total current liabilities 390,960 343,910
Long-term debt, net of current portion:    
Financing liability 220,603 225,759
Operating lease liabilities 19,421 19,788
Finance lease liabilities 2,732 2,262
Liability associated with sale of tax benefits 159,305 166,259
Deferred income taxes 78,613 83,465
Liability for unrecognized tax benefits 6,581 6,559
Liabilities for severance pay 12,394 12,833
Asset retirement obligation 99,192 97,660
Other long-term liabilities 11,021 3,317
Total liabilities 2,668,880 2,581,014
Commitments and contingencies (Note 9)
Redeemable noncontrolling interest 9,361 9,590
Equity:    
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 59,705,941 and 56,095,918 issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 60 56
Additional paid-in capital 1,560,445 1,259,072
Treasury stock, at cost (258,667 shares held as of March 31, 2023 and December 31, 2022, respectively) (17,964) (17,964)
Retained earnings 646,204 623,907
Accumulated other comprehensive income (loss) (4,209) 2,500
Total stockholders' equity attributable to Company's stockholders 2,184,536 1,867,571
Noncontrolling interest 152,493 153,404
Total equity 2,337,029 2,020,975
Total liabilities, redeemable noncontrolling interest and equity 5,015,270 4,611,579
Senior Secured Notes [Member]    
Long-term debt, net of current portion:    
Limited and non-recourse (primarily related to VIEs and less deferred financing costs of $9,447 and $10,272, respectively) 504,460 521,885
Senior Unsecured Bonds [Member]    
Long-term debt, net of current portion:    
Full recourse (less deferred financing costs of $3,436 and $2,995, respectively) 742,222 676,512
Convertible Senior Notes [Member]    
Long-term debt, net of current portion:    
Convertible senior notes (less deferred financing costs of $9,874 and $10,445, respectively) $ 421,376 $ 420,805
[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 condensed consolidated balance sheets. The contract liabilities balance at the beginning of the year was not yet fully recognized as product revenues during the three months ended March 31, 2023 as a result of performance obligations having not been fully satisfied yet.
[2] Electricity segment assets include goodwill in the amount of $85.8 million and $86.0 million as of March 31, 2023 and 2022, respectively. Energy Storage segment assets include goodwill in the amount of $4.6 million and $4.6 as of March 31, 2023 and 2022, respectively. No goodwill is included in the Product segment assets as of March 31, 2023 and 2022.
[3] Including unconsolidated investments