Avangrid, Inc. (AGR) Financial Statements (2024 and earlier)

Company Profile

Business Address 180 MARSH HILL ROAD
ORANGE, CT 06477
State of Incorp.
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 millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments691,4741,7631783641
Cash and cash equivalents691,4741,4631783641
Short-term investments  300   
Receivables1,7451,2801,1991,0921,1481,050
Inventory, net of allowances, customer advances and progress billings235204169141126115
Inventory235204169141126115
Prepaid expense685841344333
Deferred costs2681399311010999
Derivative instruments and hedges, assets603518111618
Regulatory asset447400310294299307
Disposal group, including discontinued operation      357
Other current assets6117663
Other undisclosed current assets312186167159180237
Total current assets:3,2103,7773,7772,0251,9632,260
Noncurrent Assets
Operating lease, right-of-use asset15914815370
Property, plant and equipment30,99428,86626,75125,21823,45922,669
Long-term investments and receivables486621736708424415
Long-term investments486621736708424415
Intangible assets, net (including goodwill)  3,4243,4333,4503,455
Goodwill  3,1193,1193,1273,127
Intangible assets, net (excluding goodwill)  305314323328
Derivative instruments and hedges  79846363
Regulated entity, other noncurrent assets2,3212,2472,5722,5672,6402,738
Other noncurrent assets3,9533,84533131116271
Other undisclosed noncurrent assets     6 
Total noncurrent assets:37,91335,72734,04632,39130,20429,411
TOTAL ASSETS:41,12339,50437,82334,41632,16731,671
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:2,0071,5861,4531,3611,1321,071
Interest and dividends payable239206208198191
Taxes payable4373565989
Employee-related liabilities132114948692
Accrued liabilities455     
Other undisclosed accounts payable and accrued liabilities1,5521,1721,0601,003789699
Deferred revenue3316  
Debt809372307560983690
Derivative instruments and hedges, liabilities1336417204422
Regulatory liability354307274242205178
Disposal group, including discontinued operation      137
Other liabilities593484368334327330
Due to related parties4163506458147
Contract with customer, liability9
Other undisclosed current liabilities4464376001,006246539
Total current liabilities:4,4163,3293,0693,5873,0043,114
Noncurrent Liabilities
Long-term debt and lease obligation, including:8,2157,9227,4786,7165,3685,196
Long-term debt, excluding current maturities  7,9227,4786,7165,3685,196
Finance lease, liability80919154
Other undisclosed long-term debt and lease obligation8,135(91)(91)(119)  
Liabilities, other than long-term debt, including:8,1508,29211,4505,2465,1695,013
Deferred revenue and credits1,446
Deferred revenue    1,274
Contract with customer, liability1,385
Asset retirement obligations    190217196
Deferred tax liabilities, net1,5301,452
Deferred income tax liabilities    1,814
Liability, pension and other postretirement and postemployment benefits    1,1001,1021,049
Accrued environmental loss contingencies    338339358
Regulatory liability2,9153,0223,137   
Due to related parties8 3,000   
Other liabilities5,2275,2705,313380499360
Operating lease, liability    65
Derivative instruments and hedges, liabilities    859792
Other undisclosed liabilities, other than long-term debt    65 60
Other undisclosed noncurrent liabilities    3,2813,2233,252
Total noncurrent liabilities:16,36516,21418,92815,24313,76013,461
Total liabilities:20,78119,54321,99718,83016,76416,575
Equity
Equity, attributable to parent19,38019,07615,20915,23715,10415,077
Common stock333333
Treasury stock, value(47)(47)(14)(12)(12)(8)
Additional paid in capital17,69417,67913,66513,66013,65713,653
Accumulated other comprehensive loss(180)(273)(111)(95)(72)(46)
Retained earnings1,9101,7141,6661,6811,5281,475
Equity, attributable to noncontrolling interest96288561734929919
Total equity:20,34219,96115,82615,58615,40315,096
TOTAL LIABILITIES AND EQUITY:41,12339,50437,82334,41632,16731,671

Income Statement (P&L) ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues7,9236,9746,3206,3386,4785,963
Cost of revenue
(Cost of Goods and Services Sold)
      (72)
Gross profit:7,9236,9746,3206,3386,4785,892
Operating expenses      (1,607)
Other undisclosed operating loss(7,071)(6,079)(5,451)(5,335)(5,351)(3,900)
Operating income:8528958691,0031,127385
Nonoperating income (expense)306018119(66)58
Net periodic defined benefits expense (reversal of expense), excluding service cost component(58)(37)(62)(79) 
Other nonoperating income (expense)9(8)(24)(17)(66)58
Interest and debt expense(303)(298)(316)(306)(303)(280)
Income from continuing operations before equity method investments, income taxes:579657571816758163
Income (loss) from equity method investments2627(3)310(40)
Income from continuing operations before income taxes:841664568819768123
Income tax expense (benefit)(20)(21)(29)(143)(170)259
Income from continuing operations:821643539676598382
Income before gain (loss) on sale of properties:643539676598382
Net income:821643539676598382
Net income (loss) attributable to noncontrolling interest60644224(3)(1)
Net income available to common stockholders, diluted:881707581700595381

Comprehensive Income ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:821643539676598382
Other comprehensive income (loss)93(162)(16)(11)(25)40
Comprehensive income:914481523665573422
Comprehensive income (loss), net of tax, attributable to noncontrolling interest60644224(3)(1)
Comprehensive income, net of tax, attributable to parent:974545565689570421

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.

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