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Segment Information (Text Block) | 9 Months Ended
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Sep. 30, 2014
Segment Reporting [Abstract] |
Segment Information [Text Block] | Segment Information We operate under the Itron brand worldwide and manage and report under three operating segments, Electricity, Gas, and Water. Our Water operating segment includes both our global water and heat solutions. In March 2013, we separated the management of our Energy operating segment into Electricity and Gas to allow each business line to develop its own go-to-market strategy, prioritize its marketing and product development requirements, and focus on its strategic investments. Our sales, marketing, and delivery functions are managed under three business lines - Electricity, Gas, and Water. Our product development and manufacturing operations are now managed on a worldwide basis to promote a global perspective in our operations and processes while maintaining alignment with the business lines. The transition to the new organizational structure, including changes to operations and financial reporting systems, was completed in the fourth quarter of 2013. Our historical segment information for the three and nine months ended September 30, 2013 has been recast to reflect our new operating segments. We have three measures of segment performance: revenue, gross profit (margin), and operating income (margin). Our operating segments have distinct products, and, therefore, intersegment revenues are minimal. Certain operating expenses are allocated to the operating segments based upon established allocation methodologies. Corporate operating expenses, interest income, interest expense, other income (expense), and income tax provision (benefit) are not allocated to the segments, nor included in the measure of segment profit or loss. In addition, we allocate only certain production assets and intangible assets to our operating segments. We do not manage the performance of the segments on a balance sheet basis. Segment Products
Electricity | Standard electricity (electromechanical and electronic) meters; advanced electricity meters and communication modules; smart electricity meters; smart electricity communication modules; prepayment systems, including smart key, keypad, and smart card communication technologies; advanced systems including handheld, mobile, and fixed network collection technologies; smart network technologies; meter data management software; knowledge application solutions; and professional services including implementation, installation, consulting, and analysis.
Gas | Standard gas meters; advanced gas meters and communication modules; smart gas meters; smart gas communication modules; prepayment systems, including smart key, keypad, and smart card communication technologies; advanced systems, including handheld, mobile, and fixed network collection technologies; smart network technologies; meter data management software; knowledge application solutions; and professional services, including implementation, installation, consulting, and analysis.
Water | Standard water and heat meters; advanced and smart water meters and communication modules; smart heat meters; advanced systems including handheld, mobile, and fixed network collection technologies; meter data management software; knowledge application solutions; and professional services including implementation, installation, consulting, analysis, and system management.
Revenues, gross profit, and operating income associated with our segments were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
| (in thousands)
Revenues |  |  |  |  |  |  |
Electricity | $ | 203,441 |  |  | $ | 216,615 |  |  | $ | 567,414 |  |  | $ | 605,990 |
Gas | 149,276 |  |  | 143,240 |  |  | 449,707 |  |  | 416,166 |
Water | 143,737 |  |  | 135,636 |  |  | 443,481 |  |  | 403,046 |
Total Company | $ | 496,454 |  |  | $ | 495,491 |  |  | $ | 1,460,602 |  |  | $ | 1,425,202 |
Gross profit |  |  |  |  |  |  |
Electricity | $ | 45,959 |  |  | $ | 47,637 |  |  | $ | 141,675 |  |  | $ | 155,094 |
Gas | 53,492 |  |  | 55,303 |  |  | 168,609 |  |  | 156,073 |
Water | 51,311 |  |  | 47,144 |  |  | 158,054 |  |  | 138,628 |
Total Company | $ | 150,762 |  |  | $ | 150,084 |  |  | $ | 468,338 |  |  | $ | 449,795 |
Operating income (loss) |  |  |  |  |  |  |
Electricity | $ | (11,196 | ) |  | $ | (33,756 | ) |  | $ | (35,412 | ) |  | $ | (56,923 | )
Gas | 23,836 |  |  | 24,472 |  |  | 73,889 |  |  | 62,883 |
Water | 19,157 |  |  | 17,225 |  |  | 60,319 |  |  | 45,189 |
Corporate unallocated | (15,339 | ) |  | (14,429 | ) |  | (45,872 | ) |  | (37,314 | )
Total Company | 16,458 |  |  | (6,488 | ) |  | 52,924 |  |  | 13,835 |
Total other income (expense) | (4,421 | ) |  | (2,859 | ) |  | (13,966 | ) |  | (8,837 | )
Income before income taxes | $ | 12,037 |  |  | $ | (9,347 | ) |  | $ | 38,958 |  |  | $ | 4,998 |
During the third quarter, in our Electricity segment, we revised our estimate of the cost to complete an OpenWay project in North America. This resulted in a decrease to gross profit of $11.4 million, which decreased basic and diluted earnings per share by $0.18 for the three and nine months ended September 30, 2014. We previously recorded additional costs on this contract in the third quarter of 2013, which decreased gross profit by $13.6 million and decreased basic and diluted earnings per share by $0.22 for the three months ended September 30, 2013 and $0.21 for the nine months ended September 30, 2013. For the three and nine months ended September 30, 2014 and September 30, 2013, no single customer represented more than 10% of total Company or the Electricity, Gas, or Water operating segment revenues. Revenues by region were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
| (in thousands)
United States and Canada | $ | 237,684 |  |  | $ | 227,784 |  |  | $ | 652,390 |  |  | $ | 616,555 |
Europe, Middle East, and Africa | 201,673 |  |  | 208,546 |  |  | 641,434 |  |  | 635,691 |
Other | 57,097 |  |  | 59,161 |  |  | 166,778 |  |  | 172,956 |
Total revenues | $ | 496,454 |  |  | $ | 495,491 |  |  | $ | 1,460,602 |  |  | $ | 1,425,202 |
Depreciation and amortization expense associated with our segments was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
| (in thousands)
Electricity | $ | 11,596 |  |  | $ | 11,740 |  |  | $ | 36,754 |  |  | $ | 35,084 |
Gas | 6,486 |  |  | 6,736 |  |  | 19,590 |  |  | 20,211 |
Water | 6,466 |  |  | 6,201 |  |  | 18,679 |  |  | 18,379 |
Corporate Unallocated | 79 |  |  | 41 |  |  | 210 |  |  | 75 |
Total Company | $ | 24,627 |  |  | $ | 24,718 |  |  | $ | 75,233 |  |  | $ | 73,749 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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