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v3.23.3

Discontinued Operations (Tables) | 9 Months Ended
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Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] |
Schedule of assets and liabilities |
|  | September 30, 2023 |  |  | December 31, 2022 |
|  | (in thousands) |
Assets |  |  |  |  |  |
Cash |  | $ | 4,075 |  |  | $ | 1,503 |
Receivables from the settlement of derivative contract—current |  |  | 12,337 |  |  |  | 23,351 |
Current assets of discontinued operations |  | $ | 16,412 |  |  | $ | 24,854 |
Receivables from the settlement of derivative contract—noncurrent |  | $ | 4,165 |  |  | $ | 12,689 |
Other noncurrent assets |  |  | 3,388 |  |  |  | 3,616 |
Noncurrent assets of discontinued operations |  | $ | 7,553 |  |  | $ | 16,305 |
Liabilities |  |  |  |  |  |  |  |
Income taxes payable |  |  | 10,644 |  |  |  | 10,894 |
Accounts payable and other current liabilities |  |  | 92 |  |  |  | 42 |
Current liabilities of discontinued operations |  | $ | 10,736 |  |  | $ | 10,936 |
Deferred tax liabilities |  |  | 668 |  |  |  | 686 |
Noncurrent liabilities of discontinued operations |  | $ | 668 |  |  | $ | 686 |
Schedule of operations of discontinued operations |
|  | Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  |  | 2022 |  |  |  | 2023 |  |  |  | 2022 |
|  | (in thousands) |  |  | (in thousands) |
Revenues | $ | — |  |  | $ | 4,558 |  |  | $ | — |  |  | $ | 25,247 |
Cost of revenues |  | — |  |  |  | 7,042 |  |  |  | — |  |  |  | (8,358 | )
Gross profit |  | — |  |  |  | (2,484 | ) |  |  | — |  |  |  | 33,605 |
Selling, general and administrative expenses |  | — |  |  |  | 3,275 |  |  |  | — |  |  |  | 5,190 |
Income from operations |  | — |  |  |  | (5,759 | ) |  |  | — |  |  |  | 28,415 |
Other (loss) income |  | (395 | ) |  |  | 7,792 |  |  |  | 800 |  |  |  | 7,792 |
Income before income taxes |  | (395 | ) |  |  | 2,033 |  |  |  | 800 |  |  |  | 36,207 |
Provision for income taxes |  | 91 |  |  |  | (3,492 | ) |  |  | (314 | ) |  |  | (10,278 | )
Net income from discontinued operations, net of taxes | $ | (304 | ) |  | $ | (1,459 | ) |  | $ | 486 |  |  | $ | 25,929 |
Income before income taxes attributable to Genie Energy Ltd. | $ | (395 | ) |  | $ | 4,836 |  |  | $ | 800 |  |  | $ | 36,206 |
Schedule of cash flows of discontinued operations |
|  |  |  |  |  | Nine Months Ended September 30, |
|  |  |  |  |  |  |  |  |  | 2023 |  |  |  | 2022 |
|  |  |  |  | (in thousands) |
Net income |  |  |  |  |  |  |  |  | $ | 486 |  |  | $ | 25,929 |
Non-cash items |  |  |  |  |  |  |  |  |  | 1,170 |  |  |  | 1,546 |
Changes in assets and liabilities |  |  |  |  |  |  |  |  |  | 17,805 |  |  |  | (19,325 | )
Cash flows provided by operating activities of discontinued operations |  |  |  |  |  |  |  |  | $ | 19,461 |  |  | $ | 8,150 |

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