Ormat (ORA) 10-Q 8 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 03, 2017
Document Information [Line Items]
Entity Registrant Name	ORMAT TECHNOLOGIES, INC.
Entity Central Index Key	1,296,445
Trading Symbol	ora
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		49,910,280
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2017		Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 118,390		$ 230,214
Restricted cash and cash equivalents (primarily related to VIEs)	49,510		34,262
Receivables:
Trade	79,587		80,807
Other	20,128		17,482
Inventories	18,569		12,000
Costs and estimated earnings in excess of billings on uncompleted contracts	59,901		52,198
Prepaid expenses and other	41,151		45,867
Total current assets	387,236		472,830
Investment in an unconsolidated company	13,957
Deposits and other	18,125		18,553
Deferred charges	43,598		43,773
Property, plant and equipment, net ($1,449,920 and $1,483,224 related to VIEs, respectively)	1,526,485		1,556,378
Construction-in-process ($159,612 and $120,853 related to VIEs, respectively)	408,939		306,709
Deferred financing and lease costs, net	5,186		3,923
Intangible assets, net	86,986		52,753
Goodwill	20,121		6,650
Total assets	2,510,633	[1]	2,461,569
Current liabilities:
Accounts payable and accrued expenses	101,827		91,650
Short term revolving credit lines with banks (full recourse)	30,000
Billings in excess of costs and estimated earnings on uncompleted contracts	17,574		31,630
Current portion of long-term debt:
Senior secured notes	32,608		32,234
Other loans	21,495		21,495
Full recourse	10,673		12,242
Total current liabilities	214,177		189,251
Long-term debt, net of current portion:
Senior secured notes (less deferred financing costs of $8,528 and $9,177, respectively)	334,365		350,388
Other loans (less deferred financing costs of $5,957 and $6,409, respectively)	252,085		261,845
Senior unsecured bonds (less deferred financing costs of $654 and $755, respectively)	203,678		203,577
Other loans (less deferred financing costs of $1,206 and $1,346, respectively)	52,742		57,063
Investment in an unconsolidated company in excess of accumulated losses			11,081
Liability associated with sale of tax benefits	48,810		54,662
Deferred lease income	53,036		54,561
Deferred income taxes	44,113		35,382
Liability for unrecognized tax benefits	6,015		5,738
Liabilities for severance pay	21,025		18,600
Asset retirement obligation	24,267		23,348
Other long-term liabilities	22,823		21,294
Total liabilities	1,277,136		1,286,790
Commitments and contingencies (Note 10)
Redeemable noncontrolling interest	5,898		4,772
Equity:
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 49,910,280 and 49,667,340 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	50		50
Additional paid-in capital	875,591		869,463
Retained earnings	274,566		216,644
Accumulated other comprehensive income (loss)	(6,933)		(7,732)
Total stockholders' equity attributable to Company's stockholders	1,143,274		1,078,425
Noncontrolling interest	84,325		91,582
Total equity	1,227,599		1,170,007
Total liabilities, redeemable noncontrolling interest and equity	$ 2,510,633		$ 2,461,569
[1]	Electricity segment assets include goodwill in the amount of $20.1 million

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property, plant and equipment, net	$ 1,526,485	$ 1,556,378
Construction-in-process	$ 408,939	$ 306,709
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	49,910,280	49,667,340
Common stock, shares outstanding (in shares)	49,910,280	49,667,340
Senior Secured Notes [Member]
Deferred financing costs	$ 8,528	$ 9,177
Other Loans, Limited and Non-recourse [Member]
Deferred financing costs	5,957	6,409
Senior Unsecured Bonds [Member]
Deferred financing costs	654	755
Other Loans, Full Recourse [Member]
Deferred financing costs	1,206	1,346
Variable Interest Entity, Primary Beneficiary [Member]
Property, plant and equipment, net	1,449,920	1,483,224
Construction-in-process	$ 159,612	$ 120,853

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Electricity	$ 111,777,000	$ 104,001,000	$ 227,553,000	$ 211,869,000
Product	67,587,000	55,860,000	141,709,000	99,586,000
Total revenues	179,364,000	159,861,000	369,262,000	311,455,000
Cost of revenues:
Electricity	65,439,000	62,243,000	131,475,000	125,929,000
Product	43,432,000	31,822,000	92,884,000	55,857,000
Total cost of revenues	108,871,000	94,065,000	224,359,000	181,786,000
Gross profit	70,493,000	65,796,000	144,903,000	129,669,000
Operating expenses:
Research and development expenses	1,050,000	595,000	1,652,000	944,000
Selling and marketing expenses	4,090,000	3,668,000	8,453,000	7,343,000
General and administrative expenses	12,201,000	8,783,000	22,150,000	17,532,000
Write-off of unsuccessful exploration activities	0	863,000	0	1,420,000
Operating income	53,152,000	51,887,000	112,648,000	102,430,000
Other income (expense):
Interest income	362,000	245,000	606,000	565,000
Interest expense, net	(14,540,000)	(18,401,000)	(29,463,000)	(34,424,000)
Derivatives and foreign currency transaction gains (losses)	1,703,000	(4,332,000)	3,041,000	(2,370,000)
Income attributable to sale of tax benefits	4,356,000	4,519,000	10,513,000	8,917,000
Other non-operating income (expense), net	6,000	49,000	(86,000)	240,000
Income from continuing operations before income taxes and equity in losses of investees	45,039,000	33,967,000	97,259,000	75,358,000
Income tax (provision) benefit	(6,369,000)	(7,890,000)	(17,255,000)	(17,399,000)
Equity in losses of investees, net	(428,000)	(1,144,000)	(2,027,000)	(2,081,000)
Income from continuing operations	38,242,000	24,933,000	77,977,000	55,878,000
Net income attributable to noncontrolling interest	(3,206,000)	(584,000)	(7,629,000)	(2,258,000)
Net income attributable to the Company's stockholders	35,036,000	24,349,000	70,348,000	53,620,000
Comprehensive income:
Net income	38,242,000	24,933,000	77,977,000	55,878,000
Other comprehensive income (loss), net of related taxes:
Change in foreign currency translation adjustments	1,461,000		1,539,000
Change in unrealized gains or losses in respect of the Company's share in derivatives instruments of unconsolidated investment	(916,000)	(1,987,000)	(347,000)	(5,166,000)
Loss in respect of derivative instruments designated for cash flow hedge	20,000	22,000	42,000	43,000
Amortization of unrealized gains in respect of derivative instruments designated for cash flow hedge	(15,000)	(24,000)	(39,000)	(48,000)
Comprehensive income	38,792,000	22,944,000	79,172,000	50,707,000
Comprehensive income attributable to noncontrolling interest	(3,613,000)	(584,000)	(8,025,000)	(2,258,000)
Comprehensive income attributable to the Company's stockholders	$ 35,179,000	$ 22,360,000	$ 71,147,000	$ 48,449,000
Basic:
Net income (in dollars per share)	$ 0.70	$ 0.49	$ 1.41	$ 1.09
Diluted:
Net income (in dollars per share)	$ 0.69	$ 0.49	$ 1.39	$ 1.07
Weighted average number of shares used in computation of earnings per share attributable to the Company's stockholders:
Basic (in shares)	49,771	49,456	49,726	49,314
Diluted (in shares)	50,624	50,137	50,559	49,977
Dividend per share declared (in dollars per share)	$ 0.08	$ 0.07	$ 0.25	$ 0.38

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at Jun. 30, 2016	$ 49	$ 856,827	$ 183,018	$ (12,838)	$ 1,027,056	$ 90,379	$ 1,117,435
Balance (in shares) at Dec. 31, 2015	49,107
Balance at Dec. 31, 2015	$ 49	849,223	148,396	(7,667)	990,001	93,873	1,083,874
Stock-based compensation		1,659			1,659		1,659
Exercise of options by employees and directors (in shares)	460
Exercise of options by employees and directors		5,945			5,945		5,945
Cash paid to non controlling interest						(5,752)	(5,752)
Cash dividend declared			(18,998)		(18,998)		(18,998)
Net income			53,620		53,620	2,258	55,878
Other comprehensive income (loss), net of related taxes:
Change in foreign currency translation adjustments
Loss in respect of derivative instruments designated for cash flow hedge				43	43		43
Change in unrealized gains or losses in respect of the Company's share in derivatives instruments of unconsolidated investment				(5,166)	(5,166)		(5,166)
Amortization of unrealized gains in respect of derivative instruments designated for cash flow hedge				(48)	(48)		(48)
Balance (in shares) at Jun. 30, 2016	49,567
Balance at Jun. 30, 2017	$ 50	875,591	274,566	(6,933)	1,143,274	84,325	1,227,599
Balance (in shares) at Dec. 31, 2016	49,667
Balance at Dec. 31, 2016	$ 50	869,463	216,644	(7,732)	1,078,425	91,582	1,170,007
Stock-based compensation		5,343			5,343		5,343
Exercise of options by employees and directors (in shares)	243
Exercise of options by employees and directors		785			785		785
Cash paid to non controlling interest						(14,594)	(14,594)
Cash dividend declared			(12,426)		(12,426)		(12,426)
Net income			70,348		70,348	6,941	77,977
Other comprehensive income (loss), net of related taxes:
Change in foreign currency translation adjustments				1,143	1,143	396	1,539
Loss in respect of derivative instruments designated for cash flow hedge				42	42		42
Change in unrealized gains or losses in respect of the Company's share in derivatives instruments of unconsolidated investment				(347)	(347)		(347)
Amortization of unrealized gains in respect of derivative instruments designated for cash flow hedge				$ (39)	$ (39)		$ (39)
Balance (in shares) at Jun. 30, 2017	49,910

Consolidated Statements of Equ6

Consolidated Statements of Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Retained Earnings [Member]
Amortization of unrealized gains, tax	$ 24	$ 30
Cash dividend declared, per share (in dollars per share)	$ 0.25	$ 0.38
Loss in respect of derivative instruments designated for cash flow hedge, related tax	$ 26	$ 25
Change in unrealized gains or losses in respect of the Company's share in derivative instruments of unconsolidated investment, tax	$ 0	$ 0
Cash dividend declared, per share (in dollars per share)	$ 0.25	$ 0.38

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income	$ 77,977,000	$ 55,878,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	54,082,000	51,258,000
Amortization of premium from senior unsecured bonds		(154,000)
Accretion of asset retirement obligation	919,000	821,000
Stock-based compensation	5,343,000	1,659,000
Amortization of deferred lease income	(1,343,000)	(1,343,000)
Income attributable to sale of tax benefits, net of interest expense	(6,844,000)	(5,076,000)
Equity in losses of investees	2,027,000	2,081,000
Mark-to-market of derivative instruments	(2,462,000)	(162,000)
Write-off of unsuccessful exploration activities	0	1,420,000
Gain on severance pay fund asset	(1,537,000)	(253,000)
Deferred income tax provision	8,375,000	13,254,000
Liability for unrecognized tax benefits	277,000	(411,000)
Deferred lease revenues	(182,000)	169,000
Changes in operating assets and liabilities, net of amounts acquired:
Receivables	(625,000)	(10,206,000)
Costs and estimated earnings in excess of billings on uncompleted contracts	(7,703,000)	9,861,000
Inventories	(103,000)	1,384,000
Prepaid expenses and other	1,820,000	(11,007,000)
Deposits and other	652,000	(153,000)
Accounts payable and accrued expenses	(4,636,000)	1,808,000
Billings in excess of costs and estimated earnings on uncompleted contracts	14,056,000	(9,020,000)
Liabilities for severance pay	2,425,000	(297,000)
Other long-term liabilities	(248,000)	22,000
Net cash provided by operating activities	114,158,000	119,573,000
Cash flows from investing activities:
Net change in restricted cash, cash equivalents and marketable securities	(15,248,000)	11,498,000
Capital expenditures	(116,015,000)	(67,779,000)
Investment in unconsolidated companies	(27,412,000)
Cash paid for acquisition of controlling interest in a subsidiary, net of cash acquired	(35,300,000)
Decrease (increase) in severance pay fund asset, net of payments made to retired employees	(130,000)	992,000
Net cash used in investing activities	(194,105,000)	(55,289,000)
Cash flows from financing activities:
Proceeds from exercise of options by employees	785,000	5,945,000
Proceeds from revolving credit lines with banks	437,500,000	134,500,000
Repayment of revolving credit lines with banks	(407,500,000)	(134,500,000)
Cash received from noncontrolling interest	2,017,000	1,972,000
Repayments of long-term debt	(33,177,000)	(31,386,000)
Cash paid to noncontrolling interest	(14,594,000)	(12,249,000)
Payments of capital leases	(751,000)
Deferred debt issuance costs	(3,731,000)	(2,931,000)
Cash dividends paid	(12,426,000)	(18,998,000)
Net cash provided by (used in) financing activities	(31,877,000)	(57,647,000)
Net change in cash and cash equivalents	(111,824,000)	6,637,000
Cash and cash equivalents at beginning of period	230,214,000	185,919,000
Cash and cash equivalents at end of period	118,390,000	192,556,000
Supplemental non-cash investing and financing activities:
Increase (decrease) in accounts payable related to purchases of property, plant and equipment	2,338,000	(6,956,000)
Accrued liabilities related to financing activities		$ 6,128,000

Note 1 - General and Basis of P

Note 1 - General and Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 These unaudited condensed consolidated interim financial statements of Ormat Technologies, Inc. and its subsidiaries (collectively, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Accordingly, they do not June 30, 2017, three six June 30, 2017 2016 six June 30, 2017 2016. The financial data and other information disclosed in the notes to the condensed consolidated financial statements related to these periods are unaudited. The results for the three six June 30, 2017 not December 31, 2017. These condensed unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10 December 31, 2016. December 31, 2016 December 31, 2016, not Dollar amounts, except per share data, in the notes to these financial statements are rounded to the closest $1,000. Entry into a Material Definitive Agreement . During the second 2017, one ’s wholly-owned subsidiaries, entered into a Power Purchase Agreement (“PPA”) with Southern California Public Power Authority (“SCPPA”), pursuant to which ONGP will sell, and SCPPA will purchase, geothermal power generated by a portfolio of nine 150 135 185 five 26 December 31, 2043 $75.50 Assertion of p ermanent reinvestment of foreign unremitted earnings in a subsidiary During the second 2017, $35.3 two 2018 2021, no ’s capital expenditures in the U.S. Accordingly, and as further described in Note 11, second 2017 Viridity transaction On March 15, 2017, Pursuant to the Asset Purchase Agreement dated as of December 29, 2016, $35.3 12.8 two 2017 2020. Using proprietary software and solutions, Viridity serves primarily retail energy providers, utilities, and large commercial and industrial customers. Viridity ’s offerings enable its customers to optimize and monetize their energy management, demand response and storage facilities potential by interacting on their behalf with regional transmission organizations and independent system operators. The Company accounted for the transaction in accordance with Accounting Standard Codification 805, $34.7 17 $0.4 $13.9 810, The revenues of Viridity for the period from March 15, 2017 June 30, 2017 three six June 30, 2017. Accounting guidance provides that the allocation of the purchase price may for up to one Other comprehensive income For the six June 30, 2017 2016, $3,000 $5,000, $5,000 $10,000, $2,000 $5 ,000, three June 30, 2017 2016, $1,000 $2 ,000, $3,000 $6 ,000 $1,000 and $4 ,000, June 30, 2017, $0.6 Write-offs of unsuccessful exploration activities There were no rite-offs of unsuccessful exploration activities for the three six June 30, 2017. three six 2016 $0.9 $1.4 2016 not Concentration of credit risk Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of temporary cash investments and accounts receivable. The Company places its temporary cash investments with high credit quality financial institutions located in the United States (“U.S.”) and in foreign countries. At June 30, 2017 December 31, 2016, 31.3 $72.5 seven $250,000 June 30, 2017 December 31, 2016, $99.9 $166.2 At June 30, 2017 December 31, 2016, $53.5 $53.3 June 30, 2017 December 31, 2016, 55% 60% Sierra Pacific Power Company and Nevada Power Company (subsidiaries of NV Energy, Inc.) accounted for 16.7% 19.1% three June 30, 2017 2016, 17.8% 21.1% six June 30, 2017 2016, Kenya Power and Lighting Co. Ltd. accounted for 15.4% 17.1% three June 30, 2017 2016, 14.8% 17.2% six June 30, 2017 2016, Southern California Public Power Authority (“SCPPA”) accounted for 8.7% 10.4% three June 30, 2017 2016, 8.9% 11.2% six June 30, 2017 2016, Hyundai (Sarulla geothermal power project) accounted for 4.9% 8.6% three June 30, 2017 2016, 6.3% 9.0% six June 30, 2017 2016, The Company h as historically been able to collect on all of its receivable balances, and accordingly, no

Note 2 - New Accounting Pronoun

Note 2 - New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 2 — NEW ACCOUNTING PRONOUNCEMENTS New accounting pronouncements effective in the six period ended June 30, 2017 Improvement to Employee Share-Based Payment Accounting In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016 09, no 1 2 December 15, 2016. not Interests Held through Related Parties that are under Common Control In October 2016, 2016 17, 810 December 15, 2016, not ’s consolidated financial statements. Simplifying the Measurement of Inventory In July 2015, 2015 11, 330. no ‘lower of cost or market’ with that of ‘lower of cost and net realizable value’. The amendments in this update are effective for annual reporting periods beginning after December 15, 2016, not New accounting pronouncements effective in future periods Intangibles –Goodwill and Other In January 2017, 2017 04, – Goodwill and Other (Topic 350 not 2 2 first first December 15, 2019. January 1, 2017. Compensation - Stock Compensation In May 2017, 2017 09, Compensation—Stock Compensation (Topic 718 718. 1 2 3 718 December 15, 2017. Business Combinations In January 2017, 2017 01, 805 not December 15, 2017, The Company is currently evaluating the potential impact of the adoption of these amendments on its consolidated financial statements. Statement of Cash Flows In November 2016, 2016 18, 230 – Restricted Cash. The amendments in this update require that a statement of cash flows explain the changes during the period in total cash, cash equivalents, and the amounts generally described as restricted cash or cash equivalents. Therefore, amounts of restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this update should be applied retrospectively for each period presented and are effective for financial statements issued for fiscal years beginning after December 15, 2017, Intra-Entity Transfers of Assets Other than Inventory In October 2016, 2016 16, ’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. Any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. The new guidance does not December 15, 2017, first 2017. Revenues from Contracts with Customers In May 2014, 2014 09, 606, 1 2 3 4 5 2014 09 December 15, 2017, no 2017 ’s under ASC 840, In March 2016, 2016 08, update does not December 15, 2017, no 2017 Leases In February 2016, 2016 02, 842. update introduces a number of changes and simplifies previous guidance, primarily the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The Update retains the distinction between finance leases and operating leases and the classification criteria between the two 606. December 15, 2018, Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, 2016 01, December 15, 2017,

Note 3 - Inventories

Note 3 - Inventories	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 3 — INVENTORIES Inventories consist of the following: June 30, December 31, 2017 2016 (Dollars in thousands) Raw materials and purchased parts for assembly $ 11,486 $ 5,429 Self-manufactured assembly parts and finished products 7,083 6,571 Total $ 18,569 $ 12,000

Note 4 - Unconsolidated Investm

Note 4 - Unconsolidated Investments	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 4 — UNCONSOLIDATED INVESTMENTS Unconsolidated investments consist of the following: June 30, December 31, 2017 2016 (Dollars in thousands) Sarulla $ 13,957 $ (11,081 ) The Sarulla Project The Company holds a 12.75% 330 April 4, 2013. 30 October 2013, The project is being constructed in three 110 ’s efficiency. The first March 17, 2017 second second three fourth 2017. third third second third 100% 90% On May 16, 2014, $1.17 six $1.17 $0.1 May 23, 2014) $1.07 may The Sarulla consortium entered into interest rate swap agreements with various international banks, effective as of June 4, 2014, $0.96 $1.07 3.4565%. three six June 30, 2017, $7.2 $2.7 ’s share was $0.9 $0.3 three six June 30, 2016, $15.6 $40.5 $2.0 $5.2 June 30, 2017 $6.3 The Company had added the $255.6 2014. third 2014 $14.1 During the three six June 30, 2017, $12.5 $27.4 $39.3

Note 5 - Fair Value of Financia

Note 5 - Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 5 — FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value measurement guidance clarifies that fair value is an exit price, representing the amount that would be received upon selling an asset or paid upon transferring a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 3 three : Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; Level 2 — Quoted prices in markets that are not Level 3 — Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no The following table sets forth certain fair value information at June 30, 2017 December 31, 2016 June 30, 2017 Fair Value Carrying Value at June 30, 2017 Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Current assets: Cash equivalents (including restricted cash accounts) $ 17,378 $ 17,378 $ 17,378 $ — $ — Derivatives: Put options on gas price (3) 251 251 — 251 — Contingent receivable (1) 1,088 1,088 — — 1,088 Currency forward contracts (2) 2,007 2,007 — 2,007 — Liabilities: Current liabilities: Derivatives: Contingent payables (1) (25,486 ) (25,486 ) — — (25,486 ) Warrants (1) (3,753 ) (3,753 ) — — (3,753 ) Total, net $ (8,515 ) $ (8,515 ) $ 17,378 $ 2,258 $ (28,151 ) December 31, 2016 Fair Value Carrying Value at December 31, 2016 Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets Current assets: Cash equivalents (including restricted cash accounts) $ 14,922 $ 14,922 $ 14,922 $ — $ — Derivatives: Contingent receivable (1) 1,443 1,443 — — 1,443 Liabilities: Current liabilities: Derivatives: Contingent payables (1) (11,581 ) (11,581 ) — — (11,581 ) Warrants (1) (3,429 ) (3,429 ) — — (3,429 ) Currency forward contracts (2) (481 ) (481 ) — (481 ) — Total, net $ 874 $ 874 $ 14,922 $ (481 ) $ (13,567 ) ( 1 These amounts relate to contingent receivables and payables relating to the Viridity acquisition and Guadeloupe power plant purchase transaction, valued primarily based on unobservable inputs and are included within Prepaid expenses and other, Accounts payable and accrued expenses and Other long-term liabilities on June 30, 2017 December 31, 2016 ( 2 These amounts relate to currency forward contracts valued primarily based on observable inputs, including forward and spot prices for currencies, net of contracted rates and then multiplied by notional amounts, and are included within Prepaid expenses and other and Accounts payable and accrued expenses on June 30, 2017 December 31, 2016, ( 3 These amounts relate to natural gas put options, valued primarily based on observable inputs, including spot prices on related commodity indices, and are included within Prepaid expenses and other on June 30, 2017 The amounts set forth in the tables above include investments in debt instruments and money mark et funds (which are included in cash equivalents). Those securities and deposits are classified within Level 1 The following table presents the amounts of gain (loss) recognized in the consolidated statements of operations and comprehensive income on derivative instruments not Amount of recognized gain (loss) Derivatives not designated as Location of recognized gain Three Months Ended June 30, Six Months Ended June 30, hedging instruments (loss) 2017 2016 2017 2016 Put options on natural gas price Derivatives and foreign currency transaction gains (losses) (48 ) — (241 ) — Call options on natural gas price Derivatives and foreign currency transaction gains (losses) — (1,664 ) — (1,146 ) Call and put options on oil price Derivatives and foreign currency transaction gains (losses) — (899 ) — (1,542 ) Contingent considerations Derivative and foreign currency transaction gains (losses) (45 ) — (95 ) — Currency forward contracts Derivative and foreign currency and transaction gains (loss 1,457 (1,349 ) 3,719 465 $ 1,364 $ (3,912 ) $ 3,383 $ (2,223 ) In January 2017, 4.1 $3 January 26, 2017 November 27, 2017 $0.7 On February 2, 2016, 4.1 $2 February 24, 2016 December 27, 2016 $1.9 On February 24, 2016, 185,000 $32.80 $35.50 March 24, 2016 December 22, 2016 $1.1 March 2016, 2 31,800 $41 $42.50 $32.80 $33.50. 16,500 17,000 February 2016 $28.50 $37.50 $28 $38.50, The foregoing future and forward transactions were not There were no 1, 2 3 six June 30, 2017. The fair value of the Company ’s long-term debt approximates its carrying amount, except for the following: Fair Value Carrying Amount June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 (Dollars in millions) (Dollars in millions) Olkaria III Loan - DEG $ 12.5 $ 16.3 $ 11.8 $ 15.8 Olkaria III Loan - OPIC 247.8 253.4 237.6 246.6 Olkaria IV Loan - DEG 2 51.7 50.9 50.0 50.0 Amatitlan Loan 35.1 37.3 35.0 36.8 Senior Secured Notes: Ormat Funding Corp. ("OFC") 14.3 17.0 14.3 17.0 OrCal Geothermal Inc. ("OrCal") 33.8 37.4 32.1 35.2 OFC 2 LLC ("OFC 2") 245.1 249.0 238.9 247.2 Don A. Campbell 1 ("DAC1") 88.7 88.9 90.2 92.4 Senior Unsecured Bonds 203.3 200.1 204.3 204.3 Other long-term debt 8.9 10.4 9.7 11.2 The fair value of the OFC Senior Secured Notes is determined using observable market prices as these securities are traded. The fair value of all the other long-term debt is determined by a valuation model, which is based on a conventional discounted cash flow methodology and utilizes assumptions of current borrowing rates . The fair value of revolving lines of credit is determined using a comparison of market-based price sources that are reflective of similar credit ratings to those of the Company. The carrying value of other financial instruments, such as revolving lines of credit, deposits, and other long-term debt approximates fair value. The following table presents the fair value of financial instruments as of June 30, 2017: Level 1 Level 2 Level 3 Total (Dollars in millions) Olkaria III - DEG $ — $ — $ 12.5 $ 12.5 Olkaria III - OPIC — — 247.8 247.8 Olkaria IV - DEG 2 — — 51.7 51.7 Amatitlan Loan — 35.1 — 35.1 Senior Secured Notes: OFC — 14.3 — 14.3 OrCal — — 33.8 33.8 OFC 2 — — 245.1 245.1 Don A. Campbell 1 ("DAC1") — — 88.7 88.7 Senior Unsecured Bonds — — 203.3 203.3 Other long-term debt — 1.7 7.2 8.9 Revolving lines of credit — 30.0 — 30.0 Deposits 15.9 — — 15.9 The following table presents the fair value of financial instruments as of December 31, 2016: Level 1 Level 2 Level 3 Total (Dollars in millions) Olkaria III Loan - DEG $ — $ — $ 16.3 $ 16.3 Olkaria III Loan - OPIC — — 253.4 253.4 Olkaria IV - DEG 2 50.9 50.9 Amatitlan Loan — 37.3 — 37.3 Senior Secured Notes: OFC — 17.0 — 17.0 OrCal — — 37.4 37.4 OFC 2 — — 249.0 249.0 Don A. Campbell 1 ("DAC1") — — 88.9 88.9 Senior Unsecured Bonds — — 200.1 200.1 Other long-term debt — 3.3 7.1 10.4 Deposits 14.4 — — 14.4

Note 6 - Stock-based Compensati

Note 6 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 6 — STOCK-BASED COMPENSATION The 2004 In 2004, ’s Board of Directors (the “Board”) adopted the 2004 “2004 2004 3,750,000 2004 25% 24 25% 36 50% 48 2004 one may ten 2004 2004 May 2012 2012 “2012 2004 The 2012 In May 2012, ’s shareholders adopted the 2012 2012 4,000,000 2012 25% 24 25% 36 50% 48 2012 one six ten 2012 The 2012 the Board, in its discretion, to amend the 2012 February 2014 2012 ● Increase of per grant limit: Section 15 2012 400,000 ’s common stock with respect to the initial grant of an equity award to newly hired executive officers in any calendar year; and ● Acceleration of vesting: Section 15 2012 the Company’s ability to provide in the applicable award agreement that part and/or all of the award will be accelerated upon the occurrence of certain predetermined events and/or conditions, such as a change in control (as defined in the 2012

Note 7 - Interest Expense, Net

Note 7 - Interest Expense, Net	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Interest Expense Disclosure [Text Block]	NOTE 7 — INTEREST EXPENSE, NET The components of interest expense are as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Interest related to sale of tax benefits $ 1,849 $ 2,846 $ 3,861 $ 3,704 Interest expense 14,146 15,863 28,321 31,488 Less — amount capitalized (1,455 ) (308 ) (2,719 ) (768 ) $ 14,540 $ 18,401 $ 29,463 $ 34,424

Note 8 - Earnings Per Share

Note 8 - Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 8 — EARNINGS PER SHARE Basic earnings per share attributable to the Company ’s stockholders is computed by dividing net income or loss attributable to the Company’s stockholders by the weighted average number of shares of common stock outstanding for the period. The Company does not The table below shows the reconciliation of the number of shares used in the computation of basic and diluted earnings per share: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Weighted average number of shares used in computation of basic earnings per share 49,771 49,456 49,726 49,314 Add: Additional shares from the assumed exercise of employee stock options 853 681 833 663 Weighted average number of shares used in computation of diluted earnings per share 50,624 50,137 50,559 49,977 The number of stock-based awards that could potentially dilute future earnings per share and that were not 2,363 135,875 three June 30, 2017 2016, 2,430 224,116 six June 30, 2017 2016,

Note 9 - Business Segments

Note 9 - Business Segments	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 9 — BUSINESS SEGMENTS The Company has two ’s power plants pursuant to PPAs. The Product segment is engaged in the manufacture, including design and development, of turbines and power units for the supply of electrical energy and in the associated construction of power plants utilizing the power units manufactured by the Company to supply energy from geothermal fields and other alternative energy sources. Transfer prices between the operating segments are determined based on current market values or cost plus markup of the seller’s business segment. Summarized financial information concerning the Company ’s reportable segments is shown in the following tables: Electricity Product Consolidated (Dollars in thousands) Three Months Ended June 30, 2017: Net revenue from external customers $ 111,777 $ 67,587 $ 179,364 Intersegment revenue — 16,565 16,565 Operating income 36,117 17,035 53,152 Segment assets at period end (1) 2,323,618 187,015 2,510,633 Three Months Ended June 30, 2016: Net revenue from external customers $ 104,001 $ 55,860 $ 159,861 Intersegment revenue — 19,266 19,266 Operating income 32,814 19,073 51,887 Segment assets at period end 2,031,650 241,363 2,273,013 Six Months Ended June 30, 2017: Net revenues from external customers $ 227,553 $ 141,709 $ 369,262 Intersegment revenues — 32,778 32,778 Operating income 77,015 35,633 112,648 Segment assets at period end (1) 2,323,618 187,015 2,510,633 Six Months Ended June 30, 2016: Net revenues from external customers $ 211,869 $ 99,586 $ 311,455 Intersegment revenues — 21,206 21,206 Operating income 67,599 34,831 102,430 Segment assets at period end 2,031,650 241,363 2,273,013 ( 1 Electricity segment assets include goodwill in the amount of $20.1 Reconciling information between reportable segments and the Company ’s consolidated totals is shown in the following table: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Revenue: Total segment revenue $ 179,364 $ 159,861 $ 369,262 $ 311,455 Intersegment revenue 16,565 19,266 32,778 21,206 Elimination of intersegment revenue (16,565 ) (19,266 ) (32,778 ) (21,206 ) Total consolidated revenue $ 179,364 $ 159,861 $ 369,262 $ 311,455 Operating income: Operating income $ 53,152 $ 51,887 $ 112,648 $ 102,430 Interest income 362 245 606 565 Interest expense, net (14,540 ) (18,401 ) (29,463 ) (34,424 ) Derivatives and foreign currency transaction gains (losses) 1,703 (4,332 ) 3,041 (2,370 ) Income attributable to sale of tax benefits 4,356 4,519 10,513 8,917 Other non-operating income (expense), net 6 49 (86 ) 240 Total consolidated income before income taxes and equity in income of investees $ 45,039 $ 33,967 $ 97,259 $ 75,358

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 10 ● Jon Olson and Hilary Wilt, together with Puna Pono Alliance filed a complaint on February 17, 2015 16 May 17, 2015, October 10, 2016, ’ and defendants’ motions for summary judgment, denying plaintiffs’ motion and granting defendant PGV's and the County of Hawaii’s cross motions for summary judgment, effectively rendering the plaintiffs’ action moot. On January 23, 2017, April 20, 2017 ● On July 8, 2014, two three 1, June 26, 2015, one ’ causes of action. On January 6, 2017, January 6, 2017 No ● On March 29, 2016, ’s subsidiaries in the 27th $4.8 3.75% 10 August 16, 2016, October 11, 2016, 27th May 26, 2017 11th ● On August 5, 2016, ’s fees and statutory interest against PGV and other presently unknown defendants. On December 12, 2016, August 2014. June 14, 2017, March 25, 2017. ● On June 20, 2016, March 31, 2016. ’s insurer approved by the US District Court, Southern District of California, and executed May 25, 2017. I n addition, from time to time, the Company is named as a party to various other lawsuits, claims and other legal and regulatory proceedings that arise in the ordinary course of our business. These actions typically seek, among other things, compensation for alleged personal injury, breach of contract, property damage, punitive damages, civil penalties or other losses, or injunctive or declaratory relief. With respect to such lawsuits, claims and proceedings, the Company accrues reserves when a loss is probable and the amount of such loss can be reasonably estimated. It is the opinion of the Company’s management that the outcome of these proceedings, individually and collectively, will not

Note 11 - Income Taxes

Note 11 - Income Taxes	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 11 — INCOME TAXES As further described in Note 1 second 2017 110.5 35%. $53.9 $109.6 Realization of the deferred tax assets and tax credits is dependent on generating sufficient taxable income in appropriate jurisdictions prior to expiration of the NOL carryforwards and tax credits. In prior periods and through March 31, 2017 March 31, 2017 $109.6 $62.0 not $40.8 $7 $48 June 30, 2017. This valuation allowance is based upon management’s estimates of future taxable income. Although the degree of variability inherent in the estimates of future taxable income is significant and subject to change in the near term, management believes that the estimate is adequate. However, the amount of deferred tax asset considered realizable could change in the near term if estimates which require significant judgment of future taxable income during the carryforward period are increased or decreased. Accordingly, the estimated valuation allowance is continually reviewed and as adjustments to the valuation allowance become necessary, such adjustments will be reflected in current earnings. The Company ’s effective tax rate for the three June 30, 2017 2016 14.2% 23.2%, 17.7% 23.1% six June 30, 2017 2016, 35% six June 30, 2017 16%, 37.5%; three June 30, 2017 2016 $0.8 $1.1 six June 30, 2017 2016 1.7 2.3 As described above, t he Company is currently in a net deferred tax asset position with a partial valuation allowance against the Company’s foreign tax credits that are expected to expire before they can be utilized in future periods. As of December 31, 2016, $299.6 2029 2036, $244.7 2018 2036 $0.7 December 31, 2016 20 2022 2024. $82.5 December 31, 2016 20 2026 2036. The total amount of undistributed earnings of foreign subsidiaries related to Ormat Systems for income tax purposes was approximately $367 December 31, 2016. ’s intention to reinvest undistributed earnings of its other foreign subsidiaries and thereby indefinitely postpone their remittance, given that the Company’s requires existing and future cash to fund the anticipated investment and development activities as well as debt service requirements in those jurisdictions. In addition, the Company believes that existing and anticipated cash flows as well as borrowing capacity in the U.S. and cash to be remitted to the U.S. from Ormat Systems will be sufficient to meet its needs in the U.S. Accordingly, no may not may The Company is subject to income taxes in the U.S. (federal and state) and numerous foreign jurisdictions. Significant judgment is required in evaluating tax positions and determining the position for income taxes. Reserves are established to tax-related uncertainties based on estimates of whether, and the extent to which additional taxes will be due. As of June 30, 2017, not As previously reported by the Company, the Kenya Revenue Authority (“KRA”) conducted an audit related to the Company ’s operations in Kenya for fiscal years 2012 2013. June 20, 2017, $2.6 June 2017 150% $1.2

Note 12 - Subsequent Events

Note 12 - Subsequent Events	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 12 — SUBSEQUENT EVENTS Cash dividend On August 3, 2017, $4.0 $0.08 ’s issued and outstanding shares of common stock on August 15, 2017, August 29, 2017. ORIX transaction On May 4, 2017, 11 ’s common stock, representing an approximately 22% May 4, 2017, July 26, 2017. Under the Governance Agreement, ORIX has the right to designate three nine fourth 25% . Under the Commercial Cooperation Agreement, the Company has exclusive rights to develop, own, operate and provide equipment for ORIX geothermal energy projects in all markets outside of Japan. In addition, the Company has certain rights to serve as technical partner and co-invest in ORIX geothermal energy projects in Japan. ORIX will also assist the Company in obtaining project financing for its geothermal energy projects from a variety of leading providers of renewable energy debt financing with which ORIX has relationships in Asia and around the world . ORTP buyout On March 30, 2017, he ORTP Flip Date occurred and on July 10, 2017, $2.35

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Material Definitive Agreements, Policy [Policy Text Block]	Entry into a Material Definitive Agreement . During the second 2017, one ’s wholly-owned subsidiaries, entered into a Power Purchase Agreement (“PPA”) with Southern California Public Power Authority (“SCPPA”), pursuant to which ONGP will sell, and SCPPA will purchase, geothermal power generated by a portfolio of nine 150 135 185 five 26 December 31, 2043 $75.50
Assertion of Permanent Reinvestment of Foreign Unremitted Earnings in Subsidiaries, Policy [Policy Text Block]	Assertion of p ermanent reinvestment of foreign unremitted earnings in a subsidiary During the second 2017, $35.3 two 2018 2021, no ’s capital expenditures in the U.S. Accordingly, and as further described in Note 11, second 2017
Business Combinations Policy [Policy Text Block]	Viridity transaction On March 15, 2017, Pursuant to the Asset Purchase Agreement dated as of December 29, 2016, $35.3 12.8 two 2017 2020. Using proprietary software and solutions, Viridity serves primarily retail energy providers, utilities, and large commercial and industrial customers. Viridity ’s offerings enable its customers to optimize and monetize their energy management, demand response and storage facilities potential by interacting on their behalf with regional transmission organizations and independent system operators. The Company accounted for the transaction in accordance with Accounting Standard Codification 805, $34.7 17 $0.4 $13.9 810, The revenues of Viridity for the period from March 15, 2017 June 30, 2017 three six June 30, 2017. Accounting guidance provides that the allocation of the purchase price may for up to one
Comprehensive Income, Policy [Policy Text Block]	Other comprehensive income For the six June 30, 2017 2016, $3,000 $5,000, $5,000 $10,000, $2,000 $5 ,000, three June 30, 2017 2016, $1,000 $2 ,000, $3,000 $6 ,000 $1,000 and $4 ,000, June 30, 2017, $0.6
Exploratory Drilling Costs Capitalization and Impairment, Policy [Policy Text Block]	Write-offs of unsuccessful exploration activities There were no rite-offs of unsuccessful exploration activities for the three six June 30, 2017. three six 2016 $0.9 $1.4 2016 not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of credit risk Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of temporary cash investments and accounts receivable. The Company places its temporary cash investments with high credit quality financial institutions located in the United States (“U.S.”) and in foreign countries. At June 30, 2017 December 31, 2016, 31.3 $72.5 seven $250,000 June 30, 2017 December 31, 2016, $99.9 $166.2 At June 30, 2017 December 31, 2016, $53.5 $53.3 June 30, 2017 December 31, 2016, 55% 60% Sierra Pacific Power Company and Nevada Power Company (subsidiaries of NV Energy, Inc.) accounted for 16.7% 19.1% three June 30, 2017 2016, 17.8% 21.1% six June 30, 2017 2016, Kenya Power and Lighting Co. Ltd. accounted for 15.4% 17.1% three June 30, 2017 2016, 14.8% 17.2% six June 30, 2017 2016, Southern California Public Power Authority (“SCPPA”) accounted for 8.7% 10.4% three June 30, 2017 2016, 8.9% 11.2% six June 30, 2017 2016, Hyundai (Sarulla geothermal power project) accounted for 4.9% 8.6% three June 30, 2017 2016, 6.3% 9.0% six June 30, 2017 2016, The Company h as historically been able to collect on all of its receivable balances, and accordingly, no
New Accounting Pronouncements, Policy [Policy Text Block]	New accounting pronouncements effective in the six period ended June 30, 2017 Improvement to Employee Share-Based Payment Accounting In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016 09, no 1 2 December 15, 2016. not Interests Held through Related Parties that are under Common Control In October 2016, 2016 17, 810 December 15, 2016, not ’s consolidated financial statements. Simplifying the Measurement of Inventory In July 2015, 2015 11, 330. no ‘lower of cost or market’ with that of ‘lower of cost and net realizable value’. The amendments in this update are effective for annual reporting periods beginning after December 15, 2016, not New accounting pronouncements effective in future periods Intangibles –Goodwill and Other In January 2017, 2017 04, – Goodwill and Other (Topic 350 not 2 2 first first December 15, 2019. January 1, 2017. Compensation - Stock Compensation In May 2017, 2017 09, Compensation—Stock Compensation (Topic 718 718. 1 2 3 718 December 15, 2017. Business Combinations In January 2017, 2017 01, 805 not December 15, 2017, The Company is currently evaluating the potential impact of the adoption of these amendments on its consolidated financial statements. Statement of Cash Flows In November 2016, 2016 18, 230 – Restricted Cash. The amendments in this update require that a statement of cash flows explain the changes during the period in total cash, cash equivalents, and the amounts generally described as restricted cash or cash equivalents. Therefore, amounts of restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this update should be applied retrospectively for each period presented and are effective for financial statements issued for fiscal years beginning after December 15, 2017, Intra-Entity Transfers of Assets Other than Inventory In October 2016, 2016 16, ’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. Any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. The new guidance does not December 15, 2017, first 2017. Revenues from Contracts with Customers In May 2014, 2014 09, 606, 1 2 3 4 5 2014 09 December 15, 2017, no 2017 ’s under ASC 840, In March 2016, 2016 08, update does not December 15, 2017, no 2017 Leases In February 2016, 2016 02, 842. update introduces a number of changes and simplifies previous guidance, primarily the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The Update retains the distinction between finance leases and operating leases and the classification criteria between the two 606. December 15, 2018, Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, 2016 01, December 15, 2017,

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, 2017 2016 (Dollars in thousands) Raw materials and purchased parts for assembly $ 11,486 $ 5,429 Self-manufactured assembly parts and finished products 7,083 6,571 Total $ 18,569 $ 12,000

Note 4 - Unconsolidated Inves22

Note 4 - Unconsolidated Investments (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Equity Method Investments [Table Text Block]	June 30, December 31, 2017 2016 (Dollars in thousands) Sarulla $ 13,957 $ (11,081 )

Note 5 - Fair Value of Financ23

Note 5 - Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	June 30, 2017 Fair Value Carrying Value at June 30, 2017 Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Current assets: Cash equivalents (including restricted cash accounts) $ 17,378 $ 17,378 $ 17,378 $ — $ — Derivatives: Put options on gas price (3) 251 251 — 251 — Contingent receivable (1) 1,088 1,088 — — 1,088 Currency forward contracts (2) 2,007 2,007 — 2,007 — Liabilities: Current liabilities: Derivatives: Contingent payables (1) (25,486 ) (25,486 ) — — (25,486 ) Warrants (1) (3,753 ) (3,753 ) — — (3,753 ) Total, net $ (8,515 ) $ (8,515 ) $ 17,378 $ 2,258 $ (28,151 ) December 31, 2016 Fair Value Carrying Value at December 31, 2016 Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets Current assets: Cash equivalents (including restricted cash accounts) $ 14,922 $ 14,922 $ 14,922 $ — $ — Derivatives: Contingent receivable (1) 1,443 1,443 — — 1,443 Liabilities: Current liabilities: Derivatives: Contingent payables (1) (11,581 ) (11,581 ) — — (11,581 ) Warrants (1) (3,429 ) (3,429 ) — — (3,429 ) Currency forward contracts (2) (481 ) (481 ) — (481 ) — Total, net $ 874 $ 874 $ 14,922 $ (481 ) $ (13,567 )
Derivative Instruments, Gain (Loss) [Table Text Block]	Amount of recognized gain (loss) Derivatives not designated as Location of recognized gain Three Months Ended June 30, Six Months Ended June 30, hedging instruments (loss) 2017 2016 2017 2016 Put options on natural gas price Derivatives and foreign currency transaction gains (losses) (48 ) — (241 ) — Call options on natural gas price Derivatives and foreign currency transaction gains (losses) — (1,664 ) — (1,146 ) Call and put options on oil price Derivatives and foreign currency transaction gains (losses) — (899 ) — (1,542 ) Contingent considerations Derivative and foreign currency transaction gains (losses) (45 ) — (95 ) — Currency forward contracts Derivative and foreign currency and transaction gains (loss 1,457 (1,349 ) 3,719 465 $ 1,364 $ (3,912 ) $ 3,383 $ (2,223 )
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	Fair Value Carrying Amount June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 (Dollars in millions) (Dollars in millions) Olkaria III Loan - DEG $ 12.5 $ 16.3 $ 11.8 $ 15.8 Olkaria III Loan - OPIC 247.8 253.4 237.6 246.6 Olkaria IV Loan - DEG 2 51.7 50.9 50.0 50.0 Amatitlan Loan 35.1 37.3 35.0 36.8 Senior Secured Notes: Ormat Funding Corp. ("OFC") 14.3 17.0 14.3 17.0 OrCal Geothermal Inc. ("OrCal") 33.8 37.4 32.1 35.2 OFC 2 LLC ("OFC 2") 245.1 249.0 238.9 247.2 Don A. Campbell 1 ("DAC1") 88.7 88.9 90.2 92.4 Senior Unsecured Bonds 203.3 200.1 204.3 204.3 Other long-term debt 8.9 10.4 9.7 11.2
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total (Dollars in millions) Olkaria III - DEG $ — $ — $ 12.5 $ 12.5 Olkaria III - OPIC — — 247.8 247.8 Olkaria IV - DEG 2 — — 51.7 51.7 Amatitlan Loan — 35.1 — 35.1 Senior Secured Notes: OFC — 14.3 — 14.3 OrCal — — 33.8 33.8 OFC 2 — — 245.1 245.1 Don A. Campbell 1 ("DAC1") — — 88.7 88.7 Senior Unsecured Bonds — — 203.3 203.3 Other long-term debt — 1.7 7.2 8.9 Revolving lines of credit — 30.0 — 30.0 Deposits 15.9 — — 15.9 Level 1 Level 2 Level 3 Total (Dollars in millions) Olkaria III Loan - DEG $ — $ — $ 16.3 $ 16.3 Olkaria III Loan - OPIC — — 253.4 253.4 Olkaria IV - DEG 2 50.9 50.9 Amatitlan Loan — 37.3 — 37.3 Senior Secured Notes: OFC — 17.0 — 17.0 OrCal — — 37.4 37.4 OFC 2 — — 249.0 249.0 Don A. Campbell 1 ("DAC1") — — 88.9 88.9 Senior Unsecured Bonds — — 200.1 200.1 Other long-term debt — 3.3 7.1 10.4 Deposits 14.4 — — 14.4

Note 7 - Interest Expense, Net

Note 7 - Interest Expense, Net (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Other Nonoperating Expense, by Component [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Interest related to sale of tax benefits $ 1,849 $ 2,846 $ 3,861 $ 3,704 Interest expense 14,146 15,863 28,321 31,488 Less — amount capitalized (1,455 ) (308 ) (2,719 ) (768 ) $ 14,540 $ 18,401 $ 29,463 $ 34,424

Note 8 - Earnings Per Share (Ta

Note 8 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Weighted average number of shares used in computation of basic earnings per share 49,771 49,456 49,726 49,314 Add: Additional shares from the assumed exercise of employee stock options 853 681 833 663 Weighted average number of shares used in computation of diluted earnings per share 50,624 50,137 50,559 49,977

Note 9 - Business Segments (Tab

Note 9 - Business Segments (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Electricity Product Consolidated (Dollars in thousands) Three Months Ended June 30, 2017: Net revenue from external customers $ 111,777 $ 67,587 $ 179,364 Intersegment revenue — 16,565 16,565 Operating income 36,117 17,035 53,152 Segment assets at period end (1) 2,323,618 187,015 2,510,633 Three Months Ended June 30, 2016: Net revenue from external customers $ 104,001 $ 55,860 $ 159,861 Intersegment revenue — 19,266 19,266 Operating income 32,814 19,073 51,887 Segment assets at period end 2,031,650 241,363 2,273,013 Six Months Ended June 30, 2017: Net revenues from external customers $ 227,553 $ 141,709 $ 369,262 Intersegment revenues — 32,778 32,778 Operating income 77,015 35,633 112,648 Segment assets at period end (1) 2,323,618 187,015 2,510,633 Six Months Ended June 30, 2016: Net revenues from external customers $ 211,869 $ 99,586 $ 311,455 Intersegment revenues — 21,206 21,206 Operating income 67,599 34,831 102,430 Segment assets at period end 2,031,650 241,363 2,273,013
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Revenue: Total segment revenue $ 179,364 $ 159,861 $ 369,262 $ 311,455 Intersegment revenue 16,565 19,266 32,778 21,206 Elimination of intersegment revenue (16,565 ) (19,266 ) (32,778 ) (21,206 ) Total consolidated revenue $ 179,364 $ 159,861 $ 369,262 $ 311,455 Operating income: Operating income $ 53,152 $ 51,887 $ 112,648 $ 102,430 Interest income 362 245 606 565 Interest expense, net (14,540 ) (18,401 ) (29,463 ) (34,424 ) Derivatives and foreign currency transaction gains (losses) 1,703 (4,332 ) 3,041 (2,370 ) Income attributable to sale of tax benefits 4,356 4,519 10,513 8,917 Other non-operating income (expense), net 6 49 (86 ) 240 Total consolidated income before income taxes and equity in income of investees $ 45,039 $ 33,967 $ 97,259 $ 75,358

Note 1 - General and Basis of27

Note 1 - General and Basis of Presentation (Details Textual)	Mar. 15, 2017USD ($)	Dec. 29, 2016USD ($)	Jun. 30, 2017USD ($)MWh$ / MWh	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)$ / MWh	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Income Tax Expense (Benefit)			$ 6,369,000	$ 7,890,000	$ 17,255,000	$ 17,399,000
Goodwill			20,121,000		20,121,000		$ 6,650,000
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			1,000	2,000	3,000	5,000
Interest Expense			14,540,000	18,401,000	29,463,000	34,424,000
Accumulated Other Comprehensive Income (Loss), Net of Tax			(6,933,000)		(6,933,000)		(7,732,000)
Exploration Abandonment and Impairment Expense			0	863,000	0	1,420,000
Cash, Cash Equivalents, and Short-term Investments			118,390,000	$ 192,556,000	118,390,000	$ 192,556,000	230,214,000	$ 185,919,000
Accounts Receivable, Net, Current			$ 79,587,000		79,587,000		$ 80,807,000
Provision for Doubtful Accounts					$ 0
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Primary Customers [Member]
Concentration Risk, Percentage					55.00%		60.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Sierra Pacific Power Company And Nevada Power Company [Member]
Concentration Risk, Percentage			16.70%	19.10%	17.80%	21.10%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Kenya Power And Lighting Co LTD [Member]
Concentration Risk, Percentage			15.40%	17.10%	14.80%	17.20%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Southern California Public Power Authority [Member]
Concentration Risk, Percentage			8.70%	10.40%	8.90%	11.20%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Hyundai (Sarulla Goethermal Power Project) [Member]
Concentration Risk, Percentage			4.90%	8.60%	6.30%	9.00%
UNITED STATES
Cash, Cash Equivalents, and Short-term Investments			$ 31,300,000		$ 31,300,000		$ 72,500,000
Foreign Countries [Member]
Cash, Cash Equivalents, and Short-term Investments			99,900,000		99,900,000		166,200,000
Accounts Receivable, Net, Current			53,500,000		53,500,000		53,300,000
Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax			(600,000)		(600,000)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Income Tax Expense (Benefit)			(1,000)	$ (4,000)	(2,000)	$ (5,000)
Interest Expense			(3,000)	$ (6,000)	(5,000)	$ (10,000)
Viridity Energy, Inc. [Member]
Business Combination, Consideration Transferred		$ 35,300,000
Business Combination, Contingent Consideration, Liability	$ 12,800,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 34,700,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	17 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Working Capital	$ 400,000
Goodwill	$ 13,900,000
Maximum [Member]
Cash, FDIC Insured Amount			$ 250,000		$ 250,000		$ 250,000
ONGP, LLC [Member] | Southern California Public Power Authority [Member]
Power Purchase Agreements, Number of Power Plants Portfolio			9		9
Expected Power Generating Capacity | MWh			150
Power Plant Usage Agreement Term			5 years
Power Purchase Agreements Term			26 years
Power Purchase Agreements, Fixed Price Per MWh | $ / MWh			75.5		75.5
Ormat Nevada ORTP LLC [Member] | Southern California Public Power Authority [Member] | Minimum [Member]
Expected Power Generating Capacity | MWh			135
Ormat Nevada ORTP LLC [Member] | Southern California Public Power Authority [Member] | Maximum [Member]
Expected Power Generating Capacity | MWh			185

Note 3 - Inventories - Inventor

Note 3 - Inventories - Inventories, Current (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Raw materials and purchased parts for assembly	$ 11,486	$ 5,429
Self-manufactured assembly parts and finished products	7,083	6,571
Total	$ 18,569	$ 12,000

Note 4 - Unconsolidated Inves29

Note 4 - Unconsolidated Investments (Details Textual) $ in Thousands	Jun. 04, 2014USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)MWh	Jun. 30, 2016USD ($)	Dec. 31, 2014USD ($)	May 23, 2014USD ($)	May 16, 2014USD ($)
Number of Commercial Lenders in Funding Consortium								6
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax		$ (916)	$ (1,987)	$ (347)	$ (5,166)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		$ 38,242	24,933	$ 77,977	55,878
Intersegment Eliminations [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest						$ 14,100
Sarulla [Member] | Lenders Consortium [Member]
Senior Notes								$ 1,170,000
Sarulla [Member]
Jointly Owned Utility Plant, Proportionate Ownership Share		12.75%		12.75%
Expected Power Generating Capacity | MWh				330
Power Plant Usage Agreement Term				30 years
Number Of Phases Of Construction				3
Power Utilization | MWh				110
Percentage of Required Production Capacity		100.00%		100.00%
Percentage of Required Injection Capacity		90.00%		90.00%
Supply Commitment, Remaining Minimum Amount Committed						$ 255,600
Payments to Acquire Projects		$ 12,500		$ 27,400
Accumulated Cash Contributions to Acquire Projects		39,300		39,300
Sarulla [Member] | Interest Rate Swap [Member]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax		(900)	(2,000)	(300)	(5,200)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax		6,300		6,300
Sarulla [Member] | Interest Rate Swap [Member] | Sarulla Project Company [Member]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax		$ (7,200)	$ (15,600)	$ (2,700)	$ (40,500)
Sarulla [Member] | Lenders Consortium [Member] | Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	3.4565%
Sarulla [Member] | Lenders Consortium [Member] | Subject to Fixed Interest Rate [Member]
Senior Notes							$ 100,000
Sarulla [Member] | Lenders Consortium [Member] | Subject to Fixed LIBOR Interest Rate [Member]
Senior Notes							$ 1,070,000
Sarulla [Member] | Lenders Consortium [Member] | Subject to Fixed LIBOR Interest Rate [Member] | Interest Rate Swap [Member]
Senior Notes	$ 960,000

Note 4 - Unconsolidated Inves30

Note 4 - Unconsolidated Investments - Unconsolidated Investments Mainly in Power Plants (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Sarulla		$ (11,081)
Sarulla [Member]
Sarulla	$ 13,957	$ (11,081)

Note 5 - Fair Value of Financ31

Note 5 - Fair Value of Financial Instruments (Details Textual) BTU in Millions, $ in Millions	Jan. 12, 2017USD ($)BTU$ / item	Feb. 24, 2016USD ($)Boe$ / item	Feb. 02, 2016USD ($)BTU$ / item	Mar. 31, 2016Boe$ / item	Feb. 28, 2016$ / item
Derivative, Number of Options Rolled				2
Henry Hub Natural Gas Future ("NG") Contracts [Member] | Put Option [Member]
Payments for Derivative Instrument, Investing Activities | $	$ 0.7
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU	4.1
Derivative, Price Risk Option Strike Price	3
Henry Hub Natural Gas Future ("NG") Contracts [Member] | Call Option [Member]
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU			4.1
Derivative, Price Risk Option Strike Price			2
Proceeds from Derivative Instrument, Investing Activities | $			$ 1.9
Brent Oil Future Contracts [Member]
Derivative, Nonmonetary Notional Amount, Energy Measure | Boe		185,000
Brent Oil Future Contracts [Member] | Minimum [Member]
Derivative, Price Risk Option Strike Price		32.8
Brent Oil Future Contracts [Member] | Maximum [Member]
Derivative, Price Risk Option Strike Price		35.5
Brent Oil Future Contracts [Member] | Call Option [Member]
Proceeds from Derivative Instrument, Investing Activities | $		$ 1.1
Rolled Two Existing Options [Member]
Derivative, Nonmonetary Notional Amount, Energy Measure | Boe				31,800
Rolled Two Existing Options [Member] | Minimum [Member]
Derivative, Price Risk Option Strike Price				41
Rolled Two Existing Options [Member] | Maximum [Member]
Derivative, Price Risk Option Strike Price				42.5
Before Rolling Two Existing Options [Member] | Minimum [Member]
Derivative, Price Risk Option Strike Price					32.8
Before Rolling Two Existing Options [Member] | Maximum [Member]
Derivative, Price Risk Option Strike Price					33.5
Short Risk Reversal Transactions, Rolling Existing Call Option 1 [Member]
Derivative, Nonmonetary Notional Amount, Energy Measure | Boe				16,500
Short Risk Reversal Transactions, Rolling Existing Call Option 1 [Member] | Minimum [Member]
Derivative, Price Risk Option Strike Price				28.5
Short Risk Reversal Transactions, Rolling Existing Call Option 1 [Member] | Maximum [Member]
Derivative, Price Risk Option Strike Price				37.5
Short Risk Reversal Transactions, Rolling Existing Call Option 2 [Member]
Derivative, Nonmonetary Notional Amount, Energy Measure | Boe				17,000
Short Risk Reversal Transactions, Rolling Existing Call Option 2 [Member] | Minimum [Member]
Derivative, Price Risk Option Strike Price				28
Short Risk Reversal Transactions, Rolling Existing Call Option 2 [Member] | Maximum [Member]
Derivative, Price Risk Option Strike Price				38.5

Note 5 - Fair Value of Financ32

Note 5 - Fair Value of Financial Instruments - Financial Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Reported Value Measurement [Member]
Total, net		$ (8,515)	$ 874
Cash equivalents (including restricted cash accounts)		17,378	14,922
Derivative Asset, Current	[1]	251
Reported Value Measurement [Member] | Contingent Receivable [Member]
Derivative Asset, Current	[2]	1,088	1,443
Reported Value Measurement [Member] | Contingent Payable [Member]
Derivative Liability, Current	[2]	(25,486)	(11,581)
Reported Value Measurement [Member] | Currency Forward Contracts [Member]
Derivative Liability, Current	[3]		(481)
Derivative Asset, Current	[3]	2,007
Reported Value Measurement [Member] | Warrant [Member]
Derivative Liability, Current	[2]	(3,753)	(3,429)
Estimate of Fair Value Measurement [Member]
Total, net		(8,515)	874
Cash equivalents (including restricted cash accounts)		17,378	14,922
Derivative Asset, Current	[1]	251
Estimate of Fair Value Measurement [Member] | Contingent Receivable [Member]
Derivative Asset, Current	[2]	1,088	1,443
Estimate of Fair Value Measurement [Member] | Contingent Payable [Member]
Derivative Liability, Current	[2]	(25,486)	(11,581)
Estimate of Fair Value Measurement [Member] | Currency Forward Contracts [Member]
Derivative Liability, Current	[3]		(481)
Derivative Asset, Current	[3]	2,007
Estimate of Fair Value Measurement [Member] | Warrant [Member]
Derivative Liability, Current	[2]	(3,753)	(3,429)
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Total, net		17,378	14,922
Cash equivalents (including restricted cash accounts)		17,378	14,922
Derivative Asset, Current	[1]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Contingent Receivable [Member]
Derivative Asset, Current	[2]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Contingent Payable [Member]
Derivative Liability, Current	[2]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Currency Forward Contracts [Member]
Derivative Liability, Current	[3]
Derivative Asset, Current	[3]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Warrant [Member]
Derivative Liability, Current	[2]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Total, net		2,258	(481)
Cash equivalents (including restricted cash accounts)
Derivative Asset, Current	[1]	251
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Contingent Receivable [Member]
Derivative Asset, Current	[2]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Contingent Payable [Member]
Derivative Liability, Current	[2]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Currency Forward Contracts [Member]
Derivative Liability, Current	[3]		(481)
Derivative Asset, Current	[3]	2,007
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Warrant [Member]
Derivative Liability, Current	[2]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Total, net		(28,151)	(13,567)
Cash equivalents (including restricted cash accounts)
Derivative Asset, Current	[1]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Contingent Receivable [Member]
Derivative Asset, Current	[2]	1,088	1,443
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Contingent Payable [Member]
Derivative Liability, Current	[2]	(25,486)	(11,581)
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Currency Forward Contracts [Member]
Derivative Liability, Current	[3]
Derivative Asset, Current	[3]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Warrant [Member]
Derivative Liability, Current	[2]	$ (3,753)	$ (3,429)
[1]	These amounts relate to natural gas put options, valued primarily based on observable inputs, including spot prices on related commodity indices, and are included within Prepaid expenses and other on June 30, 2017 in the consolidated balance sheets with the corresponding gain or loss being recognized within Derivatives and foreign currency transaction gains (losses) in the consolidated statement of operations and comprehensive income.
[2]	These amounts relate to contingent receivables and payables relating to the Viridity acquisition and Guadeloupe power plant purchase transaction, valued primarily based on unobservable inputs and are included within Prepaid expenses and other, Accounts payable and accrued expenses and Other long-term liabilities on June 30, 2017 and within Prepaid expenses and other and Other long-term liabilities on December 31, 2016 in the consolidated balance sheets with the corresponding gain or loss being recognized within Derivatives and foreign currency transaction gains (losses) in the consolidated statement of operations and comprehensive income.
[3]	These amounts relate to currency forward contracts valued primarily based on observable inputs, including forward and spot prices for currencies, net of contracted rates and then multiplied by notional amounts, and are included within Prepaid expenses and other and Accounts payable and accrued expenses on June 30, 2017 and December 31, 2016, in the consolidated balance sheet with the corresponding gain or loss being recognized within Derivatives and foreign currency transaction gains (losses) in the consolidated statement of operations and comprehensive income.

Note 5 - Fair Value of Financ33

Note 5 - Fair Value of Financial Instruments - Amounts of Gain (Loss) Recognized in Condensed Consolidated Statements on Derivative Instruments Not Designated as Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Amount of gain (loss) recognized	$ 1,364	$ (3,912)	$ 3,383	$ (2,223)
Foreign Currency Gain (Loss) [Member] | Put Options on Natural Gas Price [Member]
Amount of gain (loss) recognized	(48)		(241)
Foreign Currency Gain (Loss) [Member] | Call Option on Natural Gas Price [Member]
Amount of gain (loss) recognized		(1,664)		(1,146)
Foreign Currency Gain (Loss) [Member] | Call and Put Options on Oil Price [Member]
Amount of gain (loss) recognized		(899)		(1,542)
Foreign Currency Gain (Loss) [Member] | Contingent Considerations [Member]
Amount of gain (loss) recognized	(45)		(95)
Foreign Currency Gain (Loss) [Member] | Currency Forward Contracts [Member]
Amount of gain (loss) recognized	$ 1,457	$ (1,349)	$ 3,719	$ 465

Note 5 - Fair Value of Financ34

Note 5 - Fair Value of Financial Instruments - Fair Value of Long-term Debt Approximates Its Carrying Amount, Exceptions (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Estimate of Fair Value Measurement [Member]
Fair value levels-secured, unsecured and long term debt	$ 8.9	$ 10.4
Reported Value Measurement [Member]
Fair value levels-secured, unsecured and long term debt	9.7	11.2
Olkaria III DEG [Member]
Fair value levels-secured, unsecured and long term debt	12.5	16.3
Olkaria III DEG [Member] | Estimate of Fair Value Measurement [Member]
Loans	12.5	16.3
Olkaria III DEG [Member] | Reported Value Measurement [Member]
Loans	11.8	15.8
Olkaria III OPIC [Member]
Fair value levels-secured, unsecured and long term debt	247.8	253.4
Olkaria III OPIC [Member] | Estimate of Fair Value Measurement [Member]
Loans	247.8	253.4
Olkaria III OPIC [Member] | Reported Value Measurement [Member]
Loans	237.6	246.6
Olkaria IV Loan - DEG 2 [Member]
Fair value levels-secured, unsecured and long term debt	51.7	50.9
Olkaria IV Loan - DEG 2 [Member] | Estimate of Fair Value Measurement [Member]
Loans	51.7	50.9
Olkaria IV Loan - DEG 2 [Member] | Reported Value Measurement [Member]
Loans	50	50
Amatitlan Loan [Member]
Fair value levels-secured, unsecured and long term debt	35.1	37.3
Amatitlan Loan [Member] | Estimate of Fair Value Measurement [Member]
Loans	35.1	37.3
Amatitlan Loan [Member] | Reported Value Measurement [Member]
Loans	35	36.8
Ormat Funding Corp [Member]
Fair value levels-secured, unsecured and long term debt	14.3	17
Ormat Funding Corp [Member] | Estimate of Fair Value Measurement [Member]
Notes	14.3	17
Ormat Funding Corp [Member] | Reported Value Measurement [Member]
Notes	14.3	17
Orcal Geothermal Inc [Member]
Fair value levels-secured, unsecured and long term debt	33.8	37.4
Orcal Geothermal Inc [Member] | Estimate of Fair Value Measurement [Member]
Notes	33.8	37.4
Orcal Geothermal Inc [Member] | Reported Value Measurement [Member]
Notes	32.1	35.2
OFC Two Senior Secured Notes [Member]
Fair value levels-secured, unsecured and long term debt	245.1	249
OFC Two Senior Secured Notes [Member] | Estimate of Fair Value Measurement [Member]
Notes	245.1	249
OFC Two Senior Secured Notes [Member] | Reported Value Measurement [Member]
Notes	238.9	247.2
Don A. Campbell 1 ("DAC1") [Member]
Fair value levels-secured, unsecured and long term debt	88.7	88.9
Don A. Campbell 1 ("DAC1") [Member] | Estimate of Fair Value Measurement [Member]
Notes	88.7	88.9
Don A. Campbell 1 ("DAC1") [Member] | Reported Value Measurement [Member]
Notes	90.2	92.4
Senior Unsecured Bonds [Member]
Fair value levels-secured, unsecured and long term debt	203.3	200.1
Senior Unsecured Bonds [Member] | Estimate of Fair Value Measurement [Member]
Senior Unsecured Bonds	203.3	200.1
Senior Unsecured Bonds [Member] | Reported Value Measurement [Member]
Senior Unsecured Bonds	$ 204.3	$ 204.3

Note 5 - Fair Value of Financ35

Note 5 - Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Deposits	$ 15.9	$ 14.4
Revolving lines of credit	30
Fair Value, Inputs, Level 1 [Member]
Deposits	15.9	14.4
Revolving lines of credit
Fair Value, Inputs, Level 2 [Member]
Deposits
Revolving lines of credit	30
Fair Value, Inputs, Level 3 [Member]
Deposits
Revolving lines of credit
Olkaria III DEG [Member]
Fair value levels-secured, unsecured and long term debt	12.5	16.3
Olkaria III DEG [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value levels-secured, unsecured and long term debt
Olkaria III DEG [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value levels-secured, unsecured and long term debt
Olkaria III DEG [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value levels-secured, unsecured and long term debt	12.5	16.3
Olkaria III OPIC [Member]
Fair value levels-secured, unsecured and long term debt	247.8	253.4
Olkaria III OPIC [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value levels-secured, unsecured and long term debt
Olkaria III OPIC [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value levels-secured, unsecured and long term debt
Olkaria III OPIC [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value levels-secured, unsecured and long term debt	247.8	253.4
Olkaria IV Loan - DEG 2 [Member]
Fair value levels-secured, unsecured and long term debt	51.7	50.9
Olkaria IV Loan - DEG 2 [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value levels-secured, unsecured and long term debt
Olkaria IV Loan - DEG 2 [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value levels-secured, unsecured and long term debt
Olkaria IV Loan - DEG 2 [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value levels-secured, unsecured and long term debt	51.7	50.9
Amatitlan Loan [Member]
Fair value levels-secured, unsecured and long term debt	35.1	37.3
Amatitlan Loan [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value levels-secured, unsecured and long term debt
Amatitlan Loan [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value levels-secured, unsecured and long term debt	35.1	37.3
Amatitlan Loan [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value levels-secured, unsecured and long term debt
Ormat Funding Corp [Member]
Fair value levels-secured, unsecured and long term debt	14.3	17
Ormat Funding Corp [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value levels-secured, unsecured and long term debt
Ormat Funding Corp [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value levels-secured, unsecured and long term debt	14.3	17
Ormat Funding Corp [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value levels-secured, unsecured and long term debt
Orcal Geothermal Inc [Member]
Fair value levels-secured, unsecured and long term debt	33.8	37.4
Orcal Geothermal Inc [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value levels-secured, unsecured and long term debt
Orcal Geothermal Inc [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value levels-secured, unsecured and long term debt
Orcal Geothermal Inc [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value levels-secured, unsecured and long term debt	33.8	37.4
OFC Two Senior Secured Notes [Member]
Fair value levels-secured, unsecured and long term debt	245.1	249
OFC Two Senior Secured Notes [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value levels-secured, unsecured and long term debt
OFC Two Senior Secured Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value levels-secured, unsecured and long term debt
OFC Two Senior Secured Notes [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value levels-secured, unsecured and long term debt	245.1	249
Don A. Campbell 1 ("DAC1") [Member]
Fair value levels-secured, unsecured and long term debt	88.7	88.9
Don A. Campbell 1 ("DAC1") [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value levels-secured, unsecured and long term debt
Don A. Campbell 1 ("DAC1") [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value levels-secured, unsecured and long term debt
Don A. Campbell 1 ("DAC1") [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value levels-secured, unsecured and long term debt	88.7	88.9
Senior Unsecured Bonds [Member]
Fair value levels-secured, unsecured and long term debt	203.3	200.1
Senior Unsecured Bonds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value levels-secured, unsecured and long term debt
Senior Unsecured Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value levels-secured, unsecured and long term debt
Senior Unsecured Bonds [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value levels-secured, unsecured and long term debt	203.3	200.1
Other Long-term Debt [Member]
Fair value levels-secured, unsecured and long term debt	8.9	10.4
Other Long-term Debt [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value levels-secured, unsecured and long term debt
Other Long-term Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value levels-secured, unsecured and long term debt	1.7	3.3
Other Long-term Debt [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value levels-secured, unsecured and long term debt	$ 7.2	$ 7.1

Note 6 - Stock-based Compensa36

Note 6 - Stock-based Compensation (Details Textual) - shares	1 Months Ended	12 Months Ended
	May 31, 2012	Dec. 31, 2004
2004 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		3,750,000
2004 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		2 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
2004 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
2004 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		50.00%
2004 Stock Incentive Plan [Member] | Employee Stock Option [Member] | Non Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
2012 Stock Incentive Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	6 years
2012 Stock Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
2012 Stock Incentive Plan [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	400,000
2012 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	4,000,000
2012 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
2012 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
2012 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50.00%
2012 Stock Incentive Plan [Member] | Employee Stock Option [Member] | Non Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year

Note 7 - Interest Expense, Ne37

Note 7 - Interest Expense, Net - Components of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Interest related to sale of tax benefits	$ 1,849	$ 2,846	$ 3,861	$ 3,704
Interest expense	14,146	15,863	28,321	31,488
Less — amount capitalized	(1,455)	(308)	(2,719)	(768)
Interest Expense	$ 14,540	$ 18,401	$ 29,463	$ 34,424

Note 8 - Earnings Per Share (De

Note 8 - Earnings Per Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,363	135,875	2,430	224,116

Note 8 - Earnings Per Share - S

Note 8 - Earnings Per Share - Shares Used to Calculate Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Weighted average number of shares used in computation of basic earnings per share (in shares)	49,771	49,456	49,726	49,314
Additional shares from the assumed exercise of employee stock options (in shares)	853	681	833	663
Weighted average number of shares used in computation of diluted earnings per share (in shares)	50,624	50,137	50,559	49,977

Note 9 - Business Segments (Det

Note 9 - Business Segments (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Number of Reportable Segments	2
Goodwill	$ 20,121	$ 6,650
Electricity [Member]
Goodwill	$ 20,100

Note 9 - Business Segments - Su

Note 9 - Business Segments - Summarized Financial Information Concerning Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2017		Jun. 30, 2016	Jun. 30, 2017		Jun. 30, 2016	Dec. 31, 2016
Operating income	$ 53,152		$ 51,887	$ 112,648		$ 102,430
Segment assets at period end	2,510,633	[1]	2,273,013	2,510,633	[1]	2,273,013	$ 2,461,569
Net revenues	179,364		159,861	369,262		311,455
Intersegment Eliminations [Member]
Net revenues	16,565		19,266	32,778		21,206
Electricity [Member]
Operating income	36,117		32,814	77,015		67,599
Segment assets at period end	2,323,618	[1]	2,031,650	2,323,618	[1]	2,031,650
Net revenues	111,777		104,001	227,553		211,869
Electricity [Member] | Intersegment Eliminations [Member]
Net revenues
Product Segment [Member]
Operating income	17,035		19,073	35,633		34,831
Segment assets at period end	187,015	[1]	241,363	187,015	[1]	241,363
Net revenues	67,587		55,860	141,709		99,586
Product Segment [Member] | Intersegment Eliminations [Member]
Net revenues	$ 16,565		$ 19,266	$ 32,778		$ 21,206
[1]	Electricity segment assets include goodwill in the amount of $20.1 million

Note 9 - Business Segments - Re

Note 9 - Business Segments - Reconciling Information Between Reportable Segments and Consolidated Totals (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues	$ 179,364	$ 159,861	$ 369,262	$ 311,455
Operating income	53,152	51,887	112,648	102,430
Interest income	362	245	606	565
Interest expense, net	(14,540)	(18,401)	(29,463)	(34,424)
Derivatives and foreign currency transaction gains (losses)	1,703	(4,332)	3,041	(2,370)
Income attributable to sale of tax benefits	4,356	4,519	10,513	8,917
Other non-operating income (expense), net	6	49	(86)	240
Total consolidated income before income taxes and equity in income of investees	45,039	33,967	97,259	75,358
Intersegment Eliminations [Member]
Revenues	16,565	19,266	32,778	21,206
Consolidation, Eliminations [Member]
Revenues	$ (16,565)	$ (19,266)	$ (32,778)	$ (21,206)

Note 10 - Commitments and Con43

Note 10 - Commitments and Contingencies (Details Textual) - Former Local Sales Representative vs. Ormat [Member] - Pending Litigation [Member] $ in Millions	Mar. 29, 2016USD ($)
Loss Contingency, Damages Sought, Value	$ 4.8
Loss Contingency, Additional Damages Sought for Ormat Geothermal Products Sales in Chile, Percent	3.75%
Loss Contingency, Damages Sought, Ormat Geothermal Products Sales in Chile, Period	10 years

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Millions	Jun. 20, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Mar. 31, 2017
Deferred Tax Liabilities, Undistributed Foreign Earnings		$ 110.5		$ 110.5
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		(62)
Accrued Estimated Foreign Tax Withholdings		53.9		53.9
Deferred Tax Assets, Tax Credit Carryforwards, Foreign		109.6		109.6
Deferred Tax Assets, Valuation Allowance		$ 48		$ 48			$ 109.6
Effective Income Tax Rate Reconciliation, Percent		14.20%	23.20%	17.70%	23.10%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%		35.00%
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount		$ 0.8	$ 1.1	$ 1.7	$ 2.3
Undistributed Earnings of Foreign Subsidiaries						$ 367
Investment Tax Credit Carryforward [Member]
Deferred Tax Assets, Investments						$ 0.7
Tax Credit Carryforward Expiration Period						20 years
General Business Tax Credit Carryforward [Member]
Tax Credit Carryforward Expiration Period						20 years
Minimum [Member] | Investment Tax Credit Carryforward [Member]
Tax Credit Carryforward Expiration Year						2,022
Minimum [Member] | General Business Tax Credit Carryforward [Member]
Tax Credit Carryforward Expiration Year						2,026
Maximum [Member] | Investment Tax Credit Carryforward [Member]
Tax Credit Carryforward Expiration Year						2,024
Maximum [Member] | General Business Tax Credit Carryforward [Member]
Deferred Tax Assets, Tax Credit Carryforwards, General Business						$ 82.5
Tax Credit Carryforward Expiration Year						2,036
Domestic Tax Authority [Member]
Operating Loss Carryforwards						$ 299.6
Domestic Tax Authority [Member] | Minimum [Member]
Tax Credit Carryforward Expiration Year						2,029
Domestic Tax Authority [Member] | Maximum [Member]
Tax Credit Carryforward Expiration Year						2,036
State and Local Jurisdiction [Member]
Operating Loss Carryforwards						$ 244.7
State and Local Jurisdiction [Member] | Minimum [Member]
Tax Credit Carryforward Expiration Year						2,018
State and Local Jurisdiction [Member] | Maximum [Member]
Tax Credit Carryforward Expiration Year						2,036
Foreign Tax Authority [Member] | Kenya Revenue Authority [Member]
Income Tax Examination, Penalties Paid	$ 2.6
Investment Deduction Percentage	150.00%
Income Tax Examination, Interest Expense	$ 1.2
ISRAEL
National Corporate Tax Rate				16.00%
KENYA
National Corporate Tax Rate				37.50%
U.S. Foreign Tax Credits [Member]
Deferred Tax Assets, Valuation Allowance		40.8		$ 40.8
Current Year Projected Activity [Member]
Deferred Tax Assets, Valuation Allowance		$ 7		$ 7

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual) $ / shares in Units, $ in Thousands, shares in Millions	Aug. 03, 2017USD ($)$ / shares	Jul. 10, 2017USD ($)	May 04, 2017shares	Jun. 30, 2017$ / shares	Jun. 30, 2016$ / shares	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2016USD ($)$ / shares
Dividends, Common Stock						$ 12,426	$ 18,998
Common Stock, Dividends, Per Share, Declared | $ / shares				$ 0.08	$ 0.07	$ 0.25	$ 0.38
Voting Rights, Number of Directors Designated			3
Number of Directors after Acquisition Transaction			9
ORIX Corporation [Member]
Number of Shares Purchased by Investor | shares			11
Percentage Ownership in Company Purchased by Investor			22.00%
Voting Rights, Effective Rate Cap			25.00%
Subsequent Event [Member]
Dividends, Common Stock	$ 4,000
Common Stock, Dividends, Per Share, Declared | $ / shares	$ 0.08
Subsequent Event [Member] | Ormat Nevada ORTP LLC [Member] | ORTP Transaction [Member]
Payments to Acquire Interest in Joint Venture		$ 2,350