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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Total revenues $ 2,440,837 $ 2,173,633 $ 1,795,564
Total cost of revenues 1,601,520 1,459,725 1,273,375
Gross profit 839,317 713,908 522,189
Operating expenses      
Sales, general and administrative 339,069 312,779 290,453
Research and development 215,034 208,688 185,098
Amortization of intangible assets 17,828 18,918 25,717
Restructuring 2,679 43,989 (13,625)
Loss on sale of business 597 667 3,505
Goodwill impairment 0 0 38,480
Total operating expenses 575,207 585,041 529,628
Operating income (loss) 264,110 128,867 (7,439)
Other income (expense)      
Interest income 34,577 9,314 2,633
Interest expense (15,379) (8,349) (6,724)
Other income (expense), net 1,223 (2,446) (4,213)
Total other income (expense) 20,421 (1,481) (8,304)
Total income (loss) before income taxes 284,531 127,386 (15,743)
Income tax benefit (provision) (43,407) (29,068) 6,196
Net income (loss) 241,124 98,318 (9,547)
Net income attributable to noncontrolling interests 2,019 1,395 185
Net income (loss) attributable to Itron, Inc. $ 239,105 $ 96,923 $ (9,732)
Net income (loss) per common share - Basic (in dollars per share) $ 5.27 $ 2.13 $ (0.22)
Net income (loss) per common share - Diluted (in dollars per share) $ 5.18 $ 2.11 $ (0.22)
Weighted average common shares outstanding - Basic (in shares) 45,368 45,421 45,101
Weighted average common shares outstanding - Diluted (in shares) 46,187 45,836 45,101
Product revenues      
Total revenues $ 2,131,379 $ 1,863,489 $ 1,500,243
Total cost of revenues 1,429,942 1,292,170 1,102,475
Service revenues      
Total revenues 309,458 310,144 295,321
Total cost of revenues $ 171,578 $ 167,555 $ 170,900