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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Revenues $ 420,860 $ 486,949 $ 1,328,073 $ 1,495,935
Cost of revenues        
Cost of revenues 300,798 351,986 946,682 1,044,053
Gross profit 120,062 134,963 381,391 451,882
Operating expenses        
Sales, general and administrative 63,446 71,838 212,724 221,974
Research and development 43,820 46,889 138,471 147,379
Amortization of intangible assets 6,413 8,944 19,451 26,914
Restructuring (1,272) 958 (11,097) (830)
Loss on sale of business 767 2,171 3,182 28,274
Goodwill impairment 0 0 38,480 0
Total operating expenses 113,174 130,800 401,211 423,711
Operating income (loss) 6,888 4,163 (19,820) 28,171
Other income (expense)        
Interest income 801 352 1,367 1,326
Interest expense (1,679) (2,628) (4,931) (27,107)
Other income (expense), net (1,065) (1,761) (3,140) (16,684)
Total other income (expense) (1,943) (4,037) (6,704) (42,465)
Income (loss) before income taxes 4,945 126 (26,524) (14,294)
Income tax provision (473) (1,136) (4,973) (5,581)
Net income (loss) 4,472 (1,010) (31,497) (19,875)
Net income attributable to noncontrolling interests 355 859 447 2,514
Net income (loss) attributable to Itron, Inc. $ 4,117 $ (1,869) $ (31,944) $ (22,389)
Earnings (loss) per common share - Basic (in dollars per share) $ 0.09 $ (0.04) $ (0.71) $ (0.51)
Earnings (loss) per common share - Diluted (in dollars per share) $ 0.09 $ (0.04) $ (0.71) $ (0.51)
Weighted average common shares outstanding - Basic (in shares) 45,139 45,240 45,075 43,983
Weighted average common shares outstanding - Diluted (in shares) 45,330 45,240 45,075 43,983
Product [Member]        
Revenues        
Revenues $ 347,791 $ 410,947 $ 1,107,499 $ 1,265,470
Cost of revenues        
Cost of revenues 258,541 306,168 818,639 908,923
Service [Member]        
Revenues        
Revenues 73,069 76,002 220,574 230,465
Cost of revenues        
Cost of revenues $ 42,257 $ 45,818 $ 128,043 $ 135,130