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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 195,808 $ 95,872
Restricted cash and cash equivalents (primarily related to VIEs) 91,962 130,804
Receivables:    
Trade less allowance for credit losses of $90 and $90, respectively (primarily related to VIEs) 208,704 128,818
Other 44,530 32,415
Inventories 45,037 22,832
Costs and estimated earnings in excess of billings on uncompleted contracts [1] 18,367 16,405
Prepaid expenses and other 41,595 29,571
Total current assets 646,003 456,717
Investment in unconsolidated companies 125,439 115,693
Deposits and other 44,631 39,762
Deferred income taxes 152,570 161,365
Property, plant and equipment, net 2,998,949 2,493,457
Construction-in-process 814,967 893,198
Operating leases right of use 24,057 23,411
Finance leases right of use 3,510 3,806
Intangible assets, net 307,609 333,845
Goodwill 90,544 90,325
Total assets [2],[3] 5,208,279 4,611,579
Current liabilities:    
Accounts payable and accrued expenses 214,518 149,423
Commercial paper (less deferred financing costs of $29) 99,971 0
Billings in excess of costs and estimated earnings on uncompleted contracts 18,669 8,785
Current portion of long-term debt:    
Limited and non-recourse (primarily related to VIEs): 57,207 64,044
Full recourse 116,864 101,460
Financing liability [4] 5,141 16,270
Operating lease liabilities 3,329 2,347
Finance lease liabilities 1,313 1,581
Total current liabilities 537,012 343,910
Long-term debt, net of current portion:    
Financing liability [4] 220,619 225,759
Operating lease liabilities 19,790 19,788
Finance lease liabilities 2,238 2,262
Liability associated with sale of tax benefits 184,612 166,259
Deferred income taxes 66,748 83,465
Liability for unrecognized tax benefits 8,673 6,559
Liabilities for severance pay 11,844 12,833
Asset retirement obligation 114,370 97,660
Other long-term liabilities 22,107 3,317
Total liabilities 2,756,693 2,581,014
Commitments and contingencies (Note 20)
Redeemable noncontrolling interest 10,599 9,590
Equity:    
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 60,358,887 and 56,095,918 issued and outstanding as of December 31, 2023 and December 31, 2022, respectively 60 56
Additional paid-in capital 1,614,769 1,259,072
Treasury stock, at cost (258,667 shares held as of December 31, 2023 and 2022, respectively) (17,964) (17,964)
Retained earnings 719,894 623,907
Accumulated other comprehensive gain (loss) (1,332) 2,500
Total stockholders' equity attributable to Company's stockholders 2,315,427 1,867,571
Noncontrolling interest 125,560 153,404
Total equity 2,440,987 2,020,975
Total liabilities, redeemable noncontrolling interest and equity 5,208,279 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 $7,889 and $10,272, respectively) 447,389 521,885
Senior Unsecured Bonds [Member]    
Long-term debt, net of current portion:    
Full recourse (less deferred financing costs of $3,056 and $2,995, respectively) 698,187 676,512
Convertible Senior Notes [Member]    
Long-term debt, net of current portion:    
Convertible senior notes (less deferred financing costs of $8,146 and $10,445, respectively) 423,104 420,805
Revolving Credit Facility [Member]    
Current liabilities:    
Short term revolving credit lines with banks (full recourse) $ 20,000 $ 0
[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. The contract liabilities balance at the beginning of the year was partially recognized as product revenues during the year ended December 31, 2022 as a result of performance obligations that were partially satisfied.
[2] Electricity segment assets include goodwill in the amount of $85.9 million , $85.7 million and $85.3 million as of December 31, 2023, 2022 and 2021, respectively, $66.2 million of which was added in the third quarter of 2021 as a result of the Terra-Gen Transaction as further described under Note 2 to the consolidated financial statements. Energy Storage segment assets include goodwill in the amount of $4.6 million , $4.6 million and $4.6 million as of December 31, 2023, 2022 and 2021, respectively. No goodwill is included in the Product segment assets as of December 31, 2023, 2022 and 2021.
[3] Including unconsolidated investments
[4] the amounts presented exclude deferred financing costs, if any