OLD DOMINION ELECTRIC COOPERATIVE Financial Statements (2025 and earlier)
Company Profile
| Business Address |
INNSBROOK CORPORATE CNTR GLEN ALLEN, VA 23060 |
| State of Incorp. | VA |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4911 - Electric Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 31,284 | 15,213 | 107,852 | 9,288 | 3,469 | 8,649 | |||
| Cash and cash equivalents | 31,284 | 15,213 | 107,852 | 9,288 | 3,469 | 8,649 | |||
| Restricted cash and investments | 24,230 | 14,329 | |||||||
| Receivables | 3,371 | 148,411 | 76,858 | 96,722 | 113,607 | 93,720 | |||
| Inventory, net of allowances, customer advances and progress billings | 135,445 | 100,964 | 61,808 | 61,273 | 62,083 | 54,494 | |||
| Inventory | 135,445 | 100,964 | 61,808 | 61,273 | 62,083 | 54,494 | |||
| Other undisclosed current assets | 130,874 | 103,227 | 15,762 | 5,598 | 8,250 | 30,717 | |||
| Total current assets: | 300,974 | 367,815 | 262,280 | 172,881 | 211,639 | 201,909 | |||
| Noncurrent Assets | |||||||||
| Long-term investments and receivables | 262,921 | 227,700 | 279,019 | 244,648 | 216,488 | 182,017 | |||
| Long-term investments | 262,921 | 227,700 | 279,019 | 244,648 | 216,488 | 182,017 | |||
| Regulated entity, other noncurrent assets | 94,274 | 37,249 | 22,253 | 31,131 | 57,742 | ||||
| Deferred costs | 43,079 | ||||||||
| Other noncurrent assets | 84,835 | 64,081 | 55,405 | 10,534 | 26,287 | ||||
| Other undisclosed noncurrent assets | 1,489,346 | 1,508,134 | 1,556,102 | 1,608,450 | 1,657,088 | 1,639,896 | |||
| Total noncurrent assets: | 1,931,376 | 1,837,164 | 1,912,779 | 1,894,763 | 1,957,605 | 1,864,992 | |||
| TOTAL ASSETS: | 2,232,350 | 2,204,979 | 2,175,059 | 2,067,644 | 2,169,244 | 2,066,901 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 81,427 | 173,568 | 89,116 | 67,336 | 153,766 | 119,474 | |||
| Accounts payable | 75,106 | 167,601 | 82,988 | 61,044 | 147,916 | 113,477 | |||
| Accrued liabilities | 6,321 | 5,967 | 6,128 | 6,292 | 5,850 | 5,997 | |||
| Debt | 49,041 | 49,041 | 49,041 | 49,041 | 40,792 | 40,792 | |||
| Due to related parties | ✕ | ✕ | 108,729 | 112,742 | 70,546 | 26,804 | 57,549 | ||
| Other undisclosed current liabilities | 75,242 | 23,112 | 37,723 | ||||||
| Total current liabilities: | 205,710 | 331,338 | 250,899 | 210,035 | 221,362 | 255,538 | |||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 416,874 | 369,096 | 432,793 | 328,962 | 315,658 | 218,783 | |||
| Asset retirement obligations | 196,747 | 190,670 | 184,797 | 179,133 | 173,669 | 130,488 | |||
| Regulatory liability | 142,101 | 161,953 | 220,619 | 142,724 | 117,483 | 87,300 | |||
| Other liabilities | 78,026 | 16,473 | 27,377 | 7,105 | 24,506 | 995 | |||
| Total noncurrent liabilities: | 416,874 | 369,096 | 432,793 | 328,962 | 315,658 | 218,783 | |||
| Total liabilities: | 622,584 | 700,434 | 683,692 | 538,997 | 537,020 | 474,321 | |||
| Equity | |||||||||
| Equity, attributable to noncontrolling interest | 6,586 | 6,296 | 5,831 | 5,853 | 5,846 | 5,776 | |||
| Total equity: | 6,586 | 6,296 | 5,831 | 5,853 | 5,846 | 5,776 | |||
| TOTAL LIABILITIES AND EQUITY: | 629,170 | 706,730 | 689,523 | 544,850 | 542,866 | 480,097 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,082,391 | 1,005,917 | 780,640 | 807,704 | 932,682 | 932,568 | ||
| Gross profit: | 1,082,391 | 1,005,917 | 780,640 | 807,704 | 932,682 | 932,568 | ||
| Operating expenses | (47,918) | (47,984) | (47,036) | (48,486) | (54,477) | (50,490) | ||
| Other undisclosed operating loss | (969,376) | (897,423) | (678,501) | (699,745) | (805,409) | (818,722) | ||
| Operating income: | 65,097 | 60,510 | 55,103 | 59,473 | 72,796 | 63,356 | ||
| Nonoperating income | 9,188 | 6,676 | 20,571 | 13,001 | 7,026 | 5,047 | ||
| Investment income, nonoperating | 9,472 | 4,709 | 20,162 | 13,106 | 7,188 | 8,512 | ||
| Other nonoperating income (expense) | (284) | 1,967 | 409 | (105) | (162) | (3,465) | ||
| Interest and debt expense | (61,332) | (55,265) | (55,657) | (60,306) | (62,773) | (55,222) | ||
| Income from continuing operations before income taxes: | 12,953 | 11,921 | 20,017 | 12,168 | 17,049 | 13,181 | ||
| Income tax expense (benefit) | (110) | (151) | 8 | (2) | (25) | (11) | ||
| Income from continuing operations: | 12,843 | 11,770 | 20,025 | 12,166 | 17,024 | 13,170 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 20,025 | 12,166 | 17,024 | 13,170 | |
| Other undisclosed net income | 141 | |||||||
| Net income: | 12,843 | 11,770 | 20,025 | 12,166 | 17,024 | 13,311 | ||
| Net income (loss) attributable to noncontrolling interest | (290) | (465) | 22 | (7) | (70) | (32) | ||
| Net income available to common stockholders, diluted: | 12,553 | 11,305 | 20,047 | 12,159 | 16,954 | 13,279 | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 12,843 | 11,770 | 20,025 | 12,166 | 17,024 | 13,311 | ||
| Comprehensive income: | 12,843 | 11,770 | 20,025 | 12,166 | 17,024 | 13,311 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (290) | (465) | 22 | (7) | (70) | (32) | ||
| Comprehensive income, net of tax, attributable to parent: | 12,553 | 11,305 | 20,047 | 12,159 | 16,954 | 13,279 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.