XML 17 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 112,704 $ 94,395
Restricted cash and cash equivalents (primarily related to VIEs) 112,001 111,377
Receivables:    
Trade less allowance for credit losses of $249 and $163, respectively (primarily related to VIEs) 173,590 164,050
Other 45,489 50,792
Inventories 42,107 38,092
Costs and estimated earnings in excess of billings on uncompleted contracts 20,940 29,243
Prepaid expenses and other 94,023 59,173
Total current assets 600,854 547,122
Investment in unconsolidated companies 158,618 144,585
Deposits and other 89,021 75,383
Deferred income taxes 165,983 153,936
Property, plant and equipment, net ($3,261,700 and $3,271,248 related to VIEs, respectively) 3,497,915 3,501,886
Construction-in-process ($370,762 and $251,442 related to VIEs, respectively) 844,873 755,589
Operating leases right of use ($13,725 and $13,989 related to VIEs, respectively) 32,232 32,114
Finance leases right of use (none related to VIEs) 2,935 2,841
Intangible assets, net 295,225 301,745
Goodwill 151,291 151,023
Total assets 5,838,947 5,666,224
Current liabilities:    
Accounts payable and accrued expenses 201,354 234,334
Commercial paper (less deferred financing costs of $22 and $23, respectively) 99,978 99,977
Billings in excess of costs and estimated earnings on uncompleted contracts 52,198 23,091
Current portion of long-term debt:    
Financing liability 5,905 4,093
Operating lease liabilities 3,657 3,633
Finance lease liabilities 1,451 1,375
Total current liabilities 619,223 598,078
Long-term debt, net of current portion:    
Limited and non-recourse (primarily related to VIEs and less deferred financing costs of $8,216 and $8,849, respectively) 560,824 578,204
Full recourse (less deferred financing costs of $4,782 and $4,671, respectively) 957,027 822,828
Convertible senior notes (less deferred financing costs of $6,138 and $6,820, respectively) 470,299 469,617
Financing liability 213,810 216,476
Operating lease liabilities 22,722 22,523
Finance lease liabilities 1,544 1,529
Liability associated with sale of tax benefits 144,081 152,292
Deferred income taxes 71,479 68,616
Liability for unrecognized tax benefits 6,481 6,272
Liabilities for severance pay 11,147 10,488
Asset retirement obligation 131,431 129,651
Other long-term liabilities 33,533 29,270
Total liabilities 3,243,601 3,105,844
Commitments and contingencies (Note 9)
Redeemable noncontrolling interest 9,573 9,448
The Company's stockholders' equity:    
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 60,662,626 and 60,500,580 issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 61 61
Additional paid-in capital 1,640,910 1,635,245
Treasury stock, at cost (258,667 shares held as of March 31, 2025 and December 31, 2024, respectively) (17,964) (17,964)
Retained earnings 847,607 814,518
Accumulated other comprehensive income (loss) (9,410) (6,731)
Total stockholders' equity attributable to Company's stockholders 2,461,204 2,425,129
Noncontrolling interest 124,569 125,803
Total equity 2,585,773 2,550,932
Total liabilities, redeemable noncontrolling interest and equity 5,838,947 5,666,224
Variable Interest Entity, Primary Beneficiary    
Receivables:    
Property, plant and equipment, net ($3,261,700 and $3,271,248 related to VIEs, respectively) 3,261,700 3,271,248
Construction-in-process ($370,762 and $251,442 related to VIEs, respectively) 370,762 251,442
Operating leases right of use ($13,725 and $13,989 related to VIEs, respectively) 13,725 13,989
Finance leases right of use (none related to VIEs) 0 0
Senior Secured Notes    
Current portion of long-term debt:    
Limited and non-recourse (primarily related to VIEs) 70,453 70,262
Senior Unsecured Bonds    
Current portion of long-term debt:    
Full recourse $ 184,227 $ 161,313