Itc Holdings Corp (ITC) financial statements (2021 and earlier)

Company profile

Business Address 27175 ENERGY WAY
NOVI, MI 48377
State of Incorp. MI
Fiscal Year End December 31
SIC 4911 - Electric Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments46668142834
Cash and cash equivalents46668142834
Receivables11810313512510410189
Inventory, net of allowances, customer advances and progress billings39322929263132
Inventory39322929263132
Regulatory current assets12121853155 
Other undisclosed current assets14111218112236
Total current assets:187164260233169187192
Noncurrent Assets
Property, plant and equipment     5,4974,847
Intangible assets, net (including goodwill)983988991993996999999
Goodwill950950950950950950950
Intangible assets, net (excluding goodwill)33384143464949
Regulated entity, other noncurrent assets229200197247233224179
Deferred costs    293026
Other noncurrent assets77676650453740
Other undisclosed noncurrent assets   2 (5,497)(4,847)
Total noncurrent assets:1,2891,2551,2541,2921,3031,2901,244
Other undisclosed assets8,5827,9107,3096,6986,1105,4974,847
TOTAL ASSETS:10,0589,3298,8238,2237,5826,9746,282
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities257250242217245224163
Accounts payable8210697100124108111
Employee-related liabilities61302814242422
Taxes payable66645749444230
Interest and dividends payable485060545351 
Deferred revenue27
Debt235 100235395175200
Regulatory liability1231781831294540 
Due to related parties  1    
Contract with customer, liability33
Other liabilities16113435311427
Other undisclosed current liabilities  217310109
Total current liabilities:658472562633719463499
Noncurrent Liabilities
Long-term debt and lease obligation5,5755,3385,0014,3554,0613,9293,412
Long-term debt, excluding current maturities5,5725,3385,0014,3554,0613,9293,412
Operating lease, liability3
Liabilities, other than long-term debt7291,4681,3401,3341,093919726
Customer advances or deposits292718919
Pension and other postretirement defined benefit plans, liabilities54
Deferred revenue19
Contract with customer, liability13
Asset retirement obligations6    66
Deferred tax liabilities, net721601964735657563
Liability, pension and other postretirement and postemployment benefits736874686270
Regulatory liability58464061924925516068
Other liabilities47261726231717
Total noncurrent liabilities:6,3046,8066,3415,6895,1544,8474,138
Total liabilities:6,9627,2786,9036,3225,8735,3104,638
Stockholders' equity
Stockholders' equity attributable to parent2,2322,0511,9201,9011,7091,6701,614
Common stock8928928928928299231,014
Accumulated other comprehensive income7422456
Retained earnings1,3331,1551,0261,007876742593
Total stockholders' equity:2,2322,0511,9201,9011,7091,6701,614
Other undisclosed liabilities and equity864    (6)31
TOTAL LIABILITIES AND EQUITY:10,0589,3298,8238,2237,5826,9746,282

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues1,3271,1561,2111,1251,0451,023941
Revenue, net1,2111,1251,0451,023941
Cost of revenue(231)(394)(380)(206)(194)(187)(178)
Cost of goods and services sold     (112)(113)
Gross profit:1,096762831919850836764
Operating expenses(341)(127)(123)(397)(290)(243)(268)
Other operating income, net 421111
Other undisclosed operating loss (4)(2)(1)(1)(1)(1)
Operating income:755635708522561593496
Nonoperating expense(195)(194)(193)(179)(177)(198)(144)
Public utilities, allowance for funds used during construction, capitalized cost of equity29333335282130
Interest and debt expense(224)(224)(224)(211)(204)(216)(168)
Other undisclosed income from continuing operations before equity method investments, income taxes224224224211204216168
Income from continuing operations before income taxes:560441515343384394352
Income tax expense(132)(111)(196)(97)(141)(150)(119)
Net income available to common stockholders, diluted:428330319246242244234

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:428330319246242244234
Other comprehensive income (loss)31 (2)(1)(2)24
Comprehensive income, net of tax, attributable to parent:431331319244242243258

Statements sources

The financial statements are based on the company's filings with the 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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