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Business Segment Information | 9 Months Ended
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Sep. 30, 2018
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 97% of GOGAS. The Company has three reportable business segments: GRE, Afek and GOGAS. GRE owns and operates REPs, including IDT Energy, Residents Energy, Town Square Energy, and Mirabito, and also offers energy brokerage and advisory services. Its REP businesses resell electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States. Internationally, GRE has begun serving customers in the United Kingdom through a joint venture and acquired a license to service customers in Japan. GRE’s international operations have not been material to date. The Afek segment is comprised of the Company’s 86.1% interest in Afek, an oil and gas exploration project in the Golan Heights in Northern Israel. The GOGAS segment is comprised of inactive oil shale projects. GOGAS also owns Atid Drilling Ltd., a drilling services company operating in Israel. In September 2018, the Company divested a majority interest in Atid (see Note 4). Corporate costs include unallocated compensation, consulting fees, legal fees, business development expense and other corporate-related general and administrative expenses. Corporate does not generate any revenues, nor does it incur any cost of revenues. 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 |
Three Months Ended September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 71,672 |  |  | $ | — |  |  | $ | 170 |  |  | $ | — |  |  | $ | 71,842 |
Income (loss) from operations |  |  | 9,208 |  |  |  | (54 | ) |  |  | (1,062 | ) |  |  | (2,046 | ) |  |  | 6,046 |
Write-down of assets held for sale to fair value |  |  | — |  |  |  | — |  |  |  | 451 |  |  |  | — |  |  |  | 451 |
Exploration |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Equity in the net loss of equity method investee |  |  | 767 |  |  |  | — |  |  |  | 94 |  |  |  | — |  |  |  | 861 |
Three Months Ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 69,473 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 69,473 |
Income (loss) from operations |  |  | 4,773 |  |  |  | (1,011 | ) |  |  | (158 | ) |  |  | (2,201 | ) |  |  | 1,403 |
Exploration |  |  | — |  |  |  | 753 |  |  |  | — |  |  |  | — |  |  |  | 753 |
Equity in net loss of Shoreditch |  |  | 159 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 159 |
Nine Months Ended September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 217,373 |  |  | $ | — |  |  | $ | 171 |  |  | $ | — |  |  | $ | 217,544 |
Income (loss) from operations |  |  | 22,826 |  |  |  | (541 | ) |  |  | (5,307 | ) |  |  | (6,624 | ) |  |  | 10,354 |
Write-down of assets held for sale to fair value |  |  | — |  |  |  | — |  |  |  | 2,742 |  |  |  | — |  |  |  | 2,742 |
Exploration |  |  | — |  |  |  | 244 |  |  |  | — |  |  |  | — |  |  |  | 244 |
Equity in the net loss of joint venture |  |  | 1,988 |  |  |  | — |  |  |  | 94 |  |  |  | — |  |  |  | 2,082 |
Nine Months Ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 191,126 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 191,126 |
Income (loss) from operations |  |  | 4,352 |  |  |  | (3,611 | ) |  |  | (350 | ) |  |  | (7,359 | ) |  |  | (6,968 | )
Exploration |  |  | — |  |  |  | 2,256 |  |  |  | — |  |  |  | — |  |  |  | 2,256 |
Equity in net loss of Shoreditch |  |  | 159 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 159 |
Total assets for the business segments of the Company were as follows:
(in thousands) |  | GRE |  |  | Afek |  |  | GOGAS |  |  | Corporate |  |  | Total |
Total assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2018 |  | $ | 122,992 |  |  | $ | 1,228 |  |  | $ | 4,516 |  |  | $ | 2,727 |  |  | $ | 131,463 |
December 31, 2017 |  |  | 112,521 |  |  |  | 2,588 |  |  | $ | 7,887 |  |  |  | 2,782 |  |  |  | 125,778 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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