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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Revenues $ 560,772 $ 420,860 $ 1,596,460 $ 1,328,073
Cost of revenues        
Cost of revenues 373,569 300,798 1,078,942 946,682
Gross profit 187,203 120,062 517,518 381,391
Operating expenses        
Sales, general and administrative 76,576 63,446 231,176 212,724
Research and development 51,644 43,820 154,769 138,471
Amortization of intangible assets 4,663 6,413 14,433 19,451
Restructuring (615) (1,272) 36,868 (11,097)
Loss on sale of business 45 767 675 3,182
Goodwill impairment 0 0 0 38,480
Total operating expenses 132,313 113,174 437,921 401,211
Operating income (loss) 54,890 6,888 79,597 (19,820)
Other income (expense)        
Interest income 2,642 801 5,968 1,367
Interest expense (2,445) (1,679) (6,479) (4,931)
Other income (expense), net 646 (1,065) (1,162) (3,140)
Total other income (expense) 843 (1,943) (1,673) (6,704)
Income (loss) before income taxes 55,733 4,945 77,924 (26,524)
Income tax provision (15,388) (473) (24,513) (4,973)
Net income (loss) 40,345 4,472 53,411 (31,497)
Net income attributable to noncontrolling interests 173 355 874 447
Net income (loss) attributable to Itron, Inc. $ 40,172 $ 4,117 $ 52,537 $ (31,944)
Earnings (loss) per common share - Basic (in dollars per share) $ 0.88 $ 0.09 $ 1.16 $ (0.71)
Earnings (loss) per common share - Diluted (in dollars per share) $ 0.87 $ 0.09 $ 1.15 $ (0.71)
Weighted average common shares outstanding - Basic (in shares) 45,462 45,139 45,393 45,075
Weighted average common shares outstanding - Diluted (in shares) 45,950 45,330 45,768 45,075
Product [Member]        
Revenues        
Revenues $ 480,355 $ 347,791 $ 1,361,482 $ 1,107,499
Cost of revenues        
Cost of revenues 332,035 258,541 951,666 818,639
Service [Member]        
Revenues        
Revenues 80,417 73,069 234,978 220,574
Cost of revenues        
Cost of revenues $ 41,534 $ 42,257 $ 127,276 $ 128,043