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Business Segment Information
 12 Months Ended
Dec. 31, 2015
Business Segment Information [Abstract]  
Business Segment Information

Note 16—Business Segment Information

The Company owns 99.3% of its subsidiary, GEIC, which owns 100% of GRE and 92% of GOGAS. The Company has three reportable business segments: GRE, GOGAS and Afek. GRE operates REPs, including IDT Energy and Residents Energy, and energy brokerage and marketing services. Its REP businesses resell electricity and natural gas to residential and small business customers primarily in the Eastern United States. GOGAS is an oil and gas exploration company. The GOGAS segment is comprised of early stage oil shale projects including (1) an 88.4% interest in Genie Mongolia, an oil shale exploration project in Central Mongolia, (2) a 98.3% interest in AMSO, which holds and manages a 41.3% interest in AMSO, LLC, an oil shale development project in Colorado, and (3) an 86.1% interest in IEI, an oil shale development project in Israel. The Company has an 86.5% interest in Afek, which operates an oil and gas exploration project in the Golan Heights in Northern Israel. GRE has outstanding deferred stock units granted to officers and employees that represent an interest of 3.9% of the equity of GRE. Corporate costs include unallocated compensation, consulting fees, legal fees, business development expenses and other corporate-related general and administrative expenses. Corporate does not generate any revenues, nor does it incur any direct cost of revenues.

Afek was included in the GOGAS segment from its inception until December 31, 2014. Beginning in the first quarter of 2015, Afek is a separate reportable segment. Comparative results have been reclassified and restated as if Afek was a separate segment in all periods presented.

The Company’s reportable segments are distinguished by types of service, customers and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company’s chief operating decision maker.

The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its business segments based primarily on income (loss) from operations. There are no significant asymmetrical allocations to segments.

Operating results for the business segments of the Company were as follows: 

(in thousands)

 

GRE

 

Afek

 

GOGAS

 

Corporate

 

Total

Year ended December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

210,109

 

$

—

 

 

$

—

 

 

$

—

 

 

$

210,109

 

Income (loss) from operations

 

 

13,542

 

 

(7,458

)

 

 

(3,058

)

 

 

(8,908

)

 

 

(5,882

)

Depreciation

 

 

245

 

 

104

 

 

 

78

 

 

 

1

 

 

 

428

 

Research and development

 

 

—

 

 

63

 

 

 

1,922

 

 

 

—

 

 

 

1,985

 

Exploration

 

 

—

 

 

6,583

 

 

 

—

 

 

 

—

 

 

 

6,583

 

Equity in the net loss of AMSO, LLC

 

 

—

 

 

—

 

 

 

397

 

 

 

—

 

 

 

397

 

Year ended December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

275,031

 

$

—

 

 

$

—

 

 

$

—

 

 

$

275,031

 

Income (loss) from operations

 

 

3,516

 

 

(7,294

)

 

 

(6,479

)

 

 

(15,353

)

 

 

(25,610

)

Depreciation

 

 

24

 

 

8

 

 

 

99

 

 

 

1

 

 

 

132

 

Research and development

 

 

—

 

 

144

 

 

 

5,394

 

 

 

—

 

 

 

5,538

 

Exploration

 

 

—

 

 

6,971

 

 

 

—

 

 

 

—

 

 

 

6,971

 

Goodwill impairment

 

 

3,562

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,562

 

Equity in the net loss of AMSO, LLC

 

 

—

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Year ended December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

279,174

 

$

—

 

 

$

—

 

 

$

—

 

 

$

279,174

 

Income (loss) from operations

 

 

25,696

 

 

(4,255

 

 

(11,700

)

 

 

(9,115

)

 

 

626

 

Depreciation

 

 

15

 

 

2

 

 

92 

 

 

1

 

 

 

110

 

Research and development

 

 

—

 

 

186

 

 

 

7,171

 

 

 

—

 

 

 

7,357

 

Exploration

 

 

—

 

 

4,032

 

 

 

—

 

 

 

—

 

 

 

4,032

 

Equity in the net loss of AMSO, LLC

 

 

—

 

 

—

 

 

 

3,194

 

 

 

—

 

 

 

3,194

 

There were no revenues from customers located outside of the United States in all periods presented.

Total assets for the business segments of the Company were as follows:

 

(in thousands)

 

GRE

 

Afek

 

GOGAS

 

Corporate

 

Total

Total assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

$

80,177

 

$

38,665

 

$

17,770

 

$

19,203

 

$

155,815

December 31, 2014

 

 

78,254

 

 

6,243

 

48,899

 

 

19,532

 

 

152,928

December 31, 2013

 

 

76,691

 

 

5,597

 

 

36,596

 

 

39,959

 

 

158,843

Net long-lived assets and total assets held outside of the United States, which are located primarily in Israel, were as follows:

114,880

(in thousands)

 

United States

 

Foreign Countries

 

Total

December 31, 2015

 

 

 

 

 

 

 

 

 

Long-lived assets, net

 

$

763

 

$

646

 

$

1,409

Total assets

 

 

 

 

40,935

 

 

155,815

December 31, 2014

 

 

 

 

 

 

 

 

 

Long-lived assets, net

 

$

834

 

$

1,230

 

$

2,064

Total assets

 

 

143,897

 

 

9,031

 

 

152,928

December 31, 2013

 

 

 

 

 

 

 

 

 

Long-lived assets, net

 

$

352

 

$

377

 

$

729

Total assets

 

 

150,315

 

 

8,528

 

 

158,843