Ormat Technologies Inc. (ORA) Financial Statements (2024 and earlier)

Company Profile

Business Address 6140 PLUMAS STREET
RENO, NV 89519-6075
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 4911 - Electric Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments195,80895,872239,278448,25271,17398,802
Cash and cash equivalents195,80895,872239,278448,25271,17398,802
Restricted cash and investments91,962130,804104,16688,52681,93778,693
Receivables253,234161,233141,088167,157176,573156,974
Inventory, net of allowances, customer advances and progress billings45,03722,83228,44535,32134,94945,024
Inventory45,03722,83228,44535,32134,94945,024
Other undisclosed current assets59,96245,97688,95539,89851,03293,571
Total current assets:646,003456,717601,932779,154415,664473,064
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization3,5103,8066,41411,63314,161
Operating lease, right-of-use asset24,05723,41119,35716,34717,405
Property, plant and equipment2,998,9492,493,4572,294,9732,099,0471,971,4151,959,578
Intangible assets, net (including goodwill)398,153424,170453,268218,987206,360219,824
Goodwill90,54490,32589,95424,56620,14019,950
Intangible assets, net (excluding goodwill)307,609333,845363,314194,421186,220199,874
Deferred income tax assets152,570161,365143,450119,299129,510
Other undisclosed noncurrent assets985,0371,048,653906,284644,520495,979468,884
Total noncurrent assets:4,562,2764,154,8623,823,7463,109,8332,834,8302,648,286
TOTAL ASSETS:5,208,2794,611,5794,425,6783,888,9873,250,4943,121,350
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:214,518149,423143,186152,763141,857116,362
Interest and dividends payable11,2837,8436,3215,914
Taxes payable11,04421,29114,37711,435
Employee-related liabilities25,51329,27124,36420,188
Accounts payable 140,69477,55175,16475,77973,27156,299
Accrued liabilities 71,16369,81215,33214,75019,16818,713
Other undisclosed accounts payable and accrued liabilities2,6612,0604,8503,8294,3563,813
Deferred revenue18,6698,7859,24811,1792,755
Debt101,2841,5812,78264,015155,292222,180
Contract with customer, liability18,402
Other undisclosed current liabilities202,541184,121388,94020,69076,5725,000
Total current liabilities:537,012343,910544,156248,647376,476361,944
Noncurrent Liabilities
Long-term debt and lease obligation2,2382,26220,8231,399,2141,037,1481,040,733
Long-term debt, excluding current maturities    1,377,2131,011,9311,040,733
Finance lease, liability2,2382,2624,3619,10411,209
Liabilities, other than long-term debt243,532223,622195,928178,383188,742195,081
Deferred revenue     1,201
Contract with customer, liability48,433
Asset retirement obligations114,37097,66084,89163,45750,18339,475
Deferred tax liabilities, net61,323
Deferred income tax liabilities66,74883,46584,66287,97297,126
Liability for uncertainty in income taxes8,6736,5595,7301,97014,64311,769
Restructuring reserve11,84412,83315,69418,74918,75117,994
Other liabilities22,1073,3174,9516,2356,83816,087
Operating lease, liability19,79019,78816,46212,89714,008
Other undisclosed noncurrent liabilities1,973,9112,011,2201,656,981111,476123,46869,893
Total noncurrent liabilities:2,219,6812,237,1041,873,7321,689,0731,349,3581,305,707
Total liabilities:2,756,6932,581,0142,417,8881,937,7201,725,8341,667,651
Temporary equity, carrying amount10,5999,5909,3299,8309,2508,603
Equity
Equity, attributable to parent2,315,4271,867,5711,854,9991,805,9851,392,4201,319,837
Common stock605656565151
Treasury stock, value(17,964)(17,964)    
Additional paid in capital1,614,7691,259,0721,271,9251,262,446913,150901,363
Accumulated other comprehensive income (loss)(1,332)2,500(2,191)(6,620)(8,654)(3,799)
Retained earnings719,894623,907585,209550,103487,873422,222
Equity, attributable to noncontrolling interest125,560153,404143,462135,452122,990125,259
Total equity:2,440,9872,020,9751,998,4611,941,4371,515,4101,445,096
TOTAL LIABILITIES AND EQUITY:5,208,2794,611,5794,425,6783,888,9873,250,4943,121,350

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues829,424734,159663,084705,342746,044719,267
Operating lease, lease income     479,059
Cost of revenue
(Cost of Goods and Services Sold)
(565,406)(465,335)(398,746)(429,067)(476,721)(448,832)
Gross profit:264,018268,824264,338276,275269,323270,435
Operating expenses(97,433)(116,021)(94,981)(62,262)(75,527)(85,199)
Other undisclosed operating loss      (126)
Operating income:166,585152,803169,357214,013193,796185,110
Nonoperating income71,38130,54916,85232,65723,89130,406
Investment income, nonoperating73,14037,30231,70627,43722,38727,388
Gain (loss), foreign currency transaction, before tax(3,278)(6,044)(14,720)3,802624(4,761)
Other nonoperating income (expense)1,519(709)(134)1,4188807,779
Interest and debt expense(98,881)(87,743)(82,658)(77,953)(80,384)(70,924)
Other undisclosed loss from continuing operations before equity method investments, income taxes     (7,411)
Income from continuing operations before equity method investments, income taxes:139,08595,609103,551168,717137,303137,181
Income (loss) from equity method investments35(3,072)(2,624)921,8537,663
Income from continuing operations before income taxes:139,12092,537100,927168,809139,156144,844
Income tax expense (benefit)(5,983)(14,742)(24,850)(67,003)(45,613)(34,733)
Income from continuing operations:133,13777,79576,077101,80693,543110,111
Income before gain (loss) on sale of properties:76,077101,80693,543110,111
Net income:133,13777,79576,077101,80693,543110,111
Net loss attributable to noncontrolling interest(8,738)(11,954)(13,985)(16,350)(5,448)(12,145)
Net income available to common stockholders, diluted:124,39965,84162,09285,45688,09597,966

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:133,13777,79576,077101,80693,543110,111
Other comprehensive income (loss)(1,511)(464)(817)   
Other undisclosed comprehensive income (loss)(1,886)4,6224,0403,478(5,183)428
Comprehensive income:129,74081,95379,300105,28488,360110,539
Comprehensive loss, net of tax, attributable to noncontrolling interest(9,173)(11,421)(12,779)(17,794)(5,120)(11,666)
Comprehensive income, net of tax, attributable to parent:120,56770,53266,52187,49083,24098,873

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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