Hubbell Inc (HUBB) Financial Statements (2024 and earlier)

Company Profile

Business Address 40 WATERVIEW DR
SHELTON, CT 06484-1000
State of Incorp. CT
Fiscal Year End December 31
Industry (SIC) 367 - Electronic Components And Accessories (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 investments455296269196198390
Cash and cash equivalents441286260182189375
Short-term investments149914915
Receivables742675635683725540
Inventory, net of allowances, customer advances and progress billings741662607633651635
Inventory741662607633651635
Disposal group, including discontinued operation 180    
Other current assets846777626940
Total current assets:2,0211,8791,5881,5741,6441,604
Noncurrent Assets
Property, plant and equipment528460519505502458
Long-term investments and receivables666971565658
Long-term investments666971565658
Intangible assets, net (including goodwill)2,6402,5532,7342,5932,6041,549
Goodwill1,9711,8711,9231,8121,7841,089
Intangible assets, net (excluding goodwill)670682811782820460
Disposal group, including discontinued operation, noncurrent assets 177    
Other noncurrent assets1471441731756651
Total noncurrent assets:3,3813,4023,4983,3293,2282,117
TOTAL ASSETS:5,4035,2825,0854,9034,8723,721
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities864891724711722578
Employee-related liabilities959210210277
Accounts payable530533378348394327
Accrued liabilities334263254262227175
Debt510153658173
Disposal group, including discontinued operation 91    
Other undisclosed current liabilities2207372683655
Total current liabilities:1,0891,065948845839706
Noncurrent Liabilities
Long-term debt and lease obligation1,4381,4361,5121,5061,737987
Long-term debt, excluding current maturities1,4381,4361,4371,5061,737987
Liabilities, other than long-term debt, including:506540615592497380
Accounts payable and accrued liabilities   525859 
Deferred income tax liabilities   135127
Liability, pension and other postretirement and postemployment benefits   220220201238
Disposal group, including discontinued operation, liabilities 19    
Other liabilities506521132115117118
Operating lease, liability   75 
Other undisclosed liabilities, other than long-term debt   757212024
Other undisclosed noncurrent liabilities   (75)   
Total noncurrent liabilities:1,9441,9762,0522,0982,2341,367
Total liabilities:3,0323,0413,0002,9433,0732,073
Equity
Equity, attributable to parent, including:2,3612,2302,0701,9471,7811,634
Additional paid in capital  5 111
Accumulated other comprehensive loss(345)(331)(329)(333)(286)(270)
Retained earnings2,7062,5602,3942,2792,0641,892
Other undisclosed equity, attributable to parent111111
Equity, attributable to noncontrolling interest101115131814
Total equity:2,3712,2412,0851,9611,7991,648
TOTAL LIABILITIES AND EQUITY:5,4035,2825,0854,9034,8723,721

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
Revenues4,9484,1944,1864,5914,4823,669
Revenue, net3,669
Cost of revenue
(Cost of Goods and Services Sold)
(3,476)(3,043)(2,977)(3,238)(3,181)(2,517)
Gross profit:1,4721,1521,2091,3531,3001,152
Operating expenses(763)(619)(676)(756)(744)(648)
Operating income:709532533597557504
Nonoperating income (expense)55(12)(20)(18)(6)
Investment income, nonoperating    201
Other nonoperating income (expense)55(12)(21)(18)(7)
Interest and debt expense  (17)(60)(69)(72)(55)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes   (8)13  
Income from continuing operations before equity method investments, income taxes:714521454521467443
Other undisclosed loss from continuing operations before income taxes(57)(62)    
Income from continuing operations before income taxes:657459454521467443
Income tax expense(140)(88)(98)(113)(101)(193)
Income from continuing operations:517371356407366250
Income before gain (loss) on sale of properties:371356407366250
Other undisclosed net income 3535    
Net income:551406356407366250
Net loss attributable to noncontrolling interest  (5)(7)(6)(7)
Other undisclosed net loss attributable to parent (6)(6)    
Net income attributable to parent:546400351401360243
Undistributed earnings (loss) allocated to participating securities, basic(1)(1)(1)(2)(1)(1)
Net income available to common stockholders, diluted:545398350399359242

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:551406356407366250
Other comprehensive income (loss)(14)(2)4(17)(16)33
Comprehensive income:537404360390350283
Comprehensive loss, net of tax, attributable to noncontrolling interest(6)(6)(5)(7)(6)(7)
Comprehensive income, net of tax, attributable to parent:532398355384344276

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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