Business Segment Information

3 Months Ended

Mar. 31, 2017

Business Segment Information [Abstract]

Business Segment Information

Note 10—Business Segment Information

The Company owns 99.3% of its subsidiary, GEIC, which owns 100% of GRE and 92% of GOGAS. The Company has three reportable business segments: GRE, Afek and GOGAS. GRE operates REPs, including IDT Energy, Residents Energy and Town Square Energy, and energy brokerage and marketing services. Its REP businesses resell electricity and natural gas to residential and small business customers primarily in the Eastern United States. GRE has outstanding deferred stock units granted to officers and employees that represent an interest of 2.5% of the equity of GRE. The Afek segment is comprised of the Company’s 86.0% interest in Afek, which operates an oil and gas exploration project in the Golan Heights in Northern Israel. The GOGAS segment is comprised of inactive oil shale projects including AMSO, LLC, Genie Mongolia, and IEI. Corporate costs include unallocated compensation, consulting fees, legal fees, business development expense and other corporate-related general and administrative expenses. Corporate does not generate any revenues, nor does it incur any cost of revenues. 

The Company’s reportable segments are distinguished by types of service, customers and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company’s chief operating decision maker.

The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its business segments based primarily on income (loss) from operations. There are no significant asymmetrical allocations to segments.

Operating results for the business segments of the Company were as follows:

(in thousands)	GRE		Afek			GOGAS			Corporate			Total
Three Months Ended March 31, 2017
Revenues (restated see Note 2)	$	71,405	$	—		$	—		$	—		$	71,405
Income (loss) from operations (restated see Note 2)		8,974		(1,286	)		(97	)		(2,395	)		5,196
Exploration		—		851			—			—			851
Three Months Ended March 31, 2016
Revenues (revised see Note 3)	$	58,879	$	—		$	—		$	—		$	58,879
Income (loss) from operations		10,698		(1,827	)		(469	)		(2,403	)		5,999
Exploration		—		1,691			—			—			1,691
Equity in the net loss of AMSO, LLC		—		—			222			—			222

Total assets for the business segments of the Company were as follows:

(in thousands)	GRE		Afek		GOGAS		Corporate		Total
Total assets:
March 31, 2017 (restated see Note 2)	$	89,382	$	8,179	$	10,487	$	16,345	$	124,393
December 31, 2016		87,539		6,685	$	12,224		15,365		121,813