v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 513,747 $ 147,448
Restricted cash and cash equivalents (primarily related to VIEs) 144,399 133,418
Receivables:    
Trade less allowance for credit losses of $476 and $308, respectively (primarily related to VIEs) 172,568 164,772
Other 38,998 36,711
Inventories 47,292 45,268
Costs and estimated earnings in excess of billings on uncompleted contracts 46,990 30,011
Prepaid expenses and other 56,782 40,141
Total current assets 1,020,776 597,769
Investment in unconsolidated companies 204,154 162,111
Deposits and other (primarily related to VIEs) 177,282 137,744
Deferred income taxes 137,894 138,903
Property, plant and equipment, net ($3,583,076 and $3,460,079 related to VIEs, respectively) 3,789,740 3,672,569
Construction-in-process ($360,291 and $392,644 related to VIEs, respectively) 975,428 1,048,174
Operating leases right of use ($24,671 and $17,236 related to VIEs, respectively) 50,572 41,756
Finance leases right of use (none related to VIEs) 4,334 4,690
Intangible assets, net 260,043 274,548
Goodwill 168,022 168,244
Total assets 6,788,245 6,246,508
Current liabilities:    
Accounts payable and accrued expenses 182,216 234,757
Short term revolving credit lines with banks (full recourse) 0 80,000
Commercial paper (less deferred financing costs of $14 and $17, respectively) 99,986 99,983
Convertible senior notes (less deferred financing costs of $4,990) 360,585 0
Billings in excess of costs and estimated earnings on uncompleted contracts 12,265 13,159
Current portion of long-term debt:    
Limited and non-recourse (primarily related to VIEs) 87,540 79,885
Full recourse 216,285 214,207
Current portion of financing liability 9,962 9,749
Operating lease liabilities 5,359 4,764
Finance lease liabilities 1,689 1,884
Total current liabilities 975,887 738,388
Long-term debt, net of current portion:    
Limited and non-recourse (primarily related to VIEs and less deferred financing costs of $15,131 and $13,488, respectively) 684,416 645,803
Full recourse (less deferred financing costs of $3,657 and $4,248, respectively) 895,899 1,009,090
Convertible senior notes (less deferred financing costs of $18,545 and $4,103, respectively) 806,455 472,334
Financing liability 203,822 206,647
Operating lease liabilities 36,955 29,760
Finance lease liabilities 2,705 2,850
Liability associated with sale of tax benefits 175,423 190,168
Deferred income taxes 73,343 68,661
Liability for unrecognized tax benefits 6,073 10,378
Liabilities for severance pay 13,110 11,942
Asset retirement obligation 141,118 135,574
Other long-term liabilities 29,054 33,637
Total liabilities 4,044,260 3,555,232
Commitments and contingencies (Note 9)
Redeemable noncontrolling interest 9,906 10,402
The Company's stockholders' equity:    
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 61,980,201 and 61,104,078 shares issued; 61,496,941 and 60,845,411 shares outstanding, respectively 62 61
Additional paid-in capital 1,672,309 1,654,635
Treasury stock, at cost (483,260 and 258,667 shares held, respectively) (42,359) (17,964)
Retained earnings 965,781 909,343
Accumulated other comprehensive income (loss) 1,786 (2,132)
Total stockholders' equity attributable to Company's stockholders 2,597,579 2,543,943
Noncontrolling interest 136,501 136,931
Total equity 2,734,080 2,680,874
Total liabilities, redeemable noncontrolling interest and equity $ 6,788,245 $ 6,246,508