Genie Energy Ltd

For the period ended Dec 31, 2023. Filed Mar 14, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 14, 2024

GNE$19.25+8.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets

(in thousands, except per share amounts)	2023	2022
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$107,609	$98,571
Restricted cash—short-term	10,442	6,007
Marketable equity securities	396	490
Trade accounts receivable, net of allowance for doubtful accounts of $6,574 and $4,826 at December 31, 2023 and 2022, respectively	61,909	55,134
Inventory	14,598	15,714
Prepaid expenses	16,222	6,822
Other current assets	5,475	6,207
Other current assets of discontinued operations	13,182	38,688
TOTAL CURRENT ASSETS	229,833	227,633
Restricted cash—long-term	44,945	—
Property and equipment, net	15,192	891
Goodwill	9,998	9,998
Other intangibles, net	2,735	3,133
Deferred income tax assets, net	5,200	5,799
Other assets	15,247	13,856
Noncurrent assets of discontinued operations	7,405	16,305
TOTAL ASSETS	$330,555	$277,615
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Trade accounts payable	$27,881	$25,313
Accrued expenses	49,389	35,659
Income taxes payable	6,699	22,576
Due to IDT Corporation, net	145	165
Other current liabilities	9,280	4,549
Current liabilities of discontinued operations	4,858	10,936
TOTAL CURRENT LIABILITIES	98,252	99,198
Noncurrent captive insurance liability	44,945	—
Other liabilities	2,212	4,087
Noncurrent liabilities of discontinued operations	638	686
TOTAL LIABILITIES	146,047	103,971
Commitments and contingencies (Note 15 and Note 16)
EQUITY:
Genie Energy Ltd. stockholders’ equity:
Preferred stock, $0.01 par value; authorized shares – 10,000:
Series 2012-A, designated shares – 8,750; at liquidation preference, consisting of 0 shares and 983 issued and outstanding at December 31, 2023 and 2022	—	8,359
Class A common stock, $0.01 par value; authorized shares – 35,000; 1,574 shares issued and outstanding at December 31, 2023 and 2022	16	16
Class B common stock, $0.01 par value; authorized shares – 200,000; 28,765 and 27,126 shares issued and 25,841 and 24,421 shares outstanding at December 31, 2023 and 2022, respectively	288	271
Additional paid-in capital	156,101	146,546
Treasury stock, at cost, consisting of 2,924 and 2,705 shares of Class B common at December 31, 2023 and 2022, respectively	(22,661)	(19,010)
Accumulated other comprehensive income	3,299	1,926
Retained earnings	60,196	49,010
Total Genie Energy Ltd. stockholders’ equity	197,239	187,118
Noncontrolling interests	(12,731)	(13,474)
TOTAL EQUITY	184,508	173,644
TOTAL LIABILITIES AND EQUITY	$330,555	$277,615

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.