Avangrid, Inc. (AGR) Financial Statements (2023 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,4741,763178364191427
Cash and cash equivalents1,4741,463178364191427
Short-term investments 300     
Receivables1,2801,1991,0921,1481,0501,1441,050
Inventory, net of allowances, customer advances and progress billings20416914112611513298
Inventory20416914112611513298
Prepaid expense58413443335353
Deferred costs1399311010999246307
Derivative instruments and hedges, assets35181116189988
Regulatory current assets400310294299307285219
Disposal group, including discontinued operation    357  
Other current assets117663318
Other undisclosed current assets186167159180237199214
Total current assets:3,7773,7772,0251,9632,2602,2522,474
Noncurrent Assets
Operating lease, right-of-use asset14815370
Property, plant and equipment28,86626,75125,21823,45922,66921,548 
Long-term investments and receivables621736708424415442385
Long-term investments621736708424415442385
Intangible assets, net (including goodwill) 3,4243,4333,4503,4553,6623,671
Goodwill 3,1193,1193,1273,1273,1243,115
Intangible assets, net (excluding goodwill) 305314323328538556
Derivative instruments and hedges 798463637389
Regulated entity, other noncurrent assets2,2472,5722,5672,6402,7383,0913,314
Deferred costs      2
Other noncurrent assets3,8453313111627124135
Other undisclosed noncurrent assets   6  20,773
Total noncurrent assets:35,72734,04632,39130,20429,41129,05728,269
TOTAL ASSETS:39,50437,82334,41632,16731,67131,30930,743
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,5861,4531,3611,1321,0711,096946
Accounts payable      830
Employee-related liabilities13211494869289 
Taxes payable43735659895255
Interest and dividends payable23920620819819119461
Other undisclosed accounts payable and accrued liabilities1,1721,0601,003789699761 
Deferred revenue16  
Debt372307560983690499206
Derivative instruments and hedges, liabilities64172044227591
Regulatory liability307274242205178192147
Due to related parties6350645814723890
Disposal group, including discontinued operation    137  
Contract with customer, liability9
Other liabilities484368334327330279285
Other undisclosed current liabilities4376001,006246539333270
Total current liabilities:3,3293,0693,5873,0043,1142,7122,035
Noncurrent Liabilities
Long-term debt and lease obligation, including:7,9227,4786,7165,3685,1964,5101,745
Long-term debt, excluding current maturities7,9227,4786,7165,3685,1964,5104,530
Finance lease, liability919154
Operating lease, liability  65
Other undisclosed long-term debt and lease obligation(91)(91)(119)   (2,785)
Liabilities, other than long-term debt, including:8,29211,4505,2465,1695,0136,6476,752
Deferred revenue and credits1,4461,4831,553
Deferred revenue  1,274
Contract with customer, liability1,385
Asset retirement obligations  190217196161184
Deferred tax liabilities, net1,5301,4522,9762,798
Deferred income tax liabilities  1,814
Liability, pension and other postretirement and postemployment benefits  1,1001,1021,0491,1061,202
Accrued environmental loss contingencies  338339358398406
Regulatory liability3,0223,137     
Due to related parties 3,000     
Other liabilities5,2705,313380499360342330
Derivative instruments and hedges, liabilities  8597927894
Other undisclosed liabilities, other than long-term debt  65 60103185
Other undisclosed noncurrent liabilities  3,2813,2233,2522,3185,145
Total noncurrent liabilities:16,21418,92815,24313,76013,46113,47513,642
Total liabilities:19,54321,99718,83016,76416,57516,18715,677
Stockholders' equity
Stockholders' equity attributable to parent19,07615,20915,23715,10415,07715,10915,053
Common stock3333333
Treasury stock, value(47)(14)(12)(12)(8)(5) 
Additional paid in capital17,67913,66513,66013,65713,65313,65313,653
Accumulated other comprehensive loss(273)(111)(95)(72)(46)(86)(52)
Retained earnings1,7141,6661,6811,5281,4751,5441,449
Stockholders' equity attributable to noncontrolling interest885617349299191313
Total stockholders' equity:19,96115,82615,58615,40315,09615,12215,066
TOTAL LIABILITIES AND EQUITY:39,50437,82334,41632,16731,67131,30930,743

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues6,9746,3206,3386,4785,9636,0184,367
Cost of revenue
(Cost of Goods and Services Sold)
    (72)(71)(48)
Gross profit:6,9746,3206,3386,4785,8925,9474,319
Operating expenses    (1,607)(985)(959)
Other undisclosed operating loss(6,079)(5,451)(5,335)(5,351)(3,900)(3,769)(2,847)
Operating income:8958691,0031,1273851,194513
Nonoperating income (expense)6018119(66)587655
Net periodic defined benefits expense (reversal of expense), excluding service cost component(37)(62)(79) 
Other nonoperating income (expense)(8)(24)(17)(66)587655
Interest and debt expense(298)(316)(306)(303)(280)(268)(267)
Income from continuing operations before equity method investments, income taxes:6575718167581631,002301
Income (loss) from equity method investments7(3)310(40)7 
Income from continuing operations before income taxes:6645688197681231,009301
Income tax expense (benefit)(21)(29)(143)(170)259(379)(34)
Net income:643539676598382630267
Net income (loss) attributable to noncontrolling interest644224(3)(1)  
Net income available to common stockholders, diluted:707581700595381630267

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:643539676598382630267
Other comprehensive income (loss)(162)(16)(11)(25)40(34)47
Comprehensive income:481523665573422596314
Comprehensive income (loss), net of tax, attributable to noncontrolling interest644224(3)(1)  
Comprehensive income, net of tax, attributable to parent:545565689570421596314

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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