Algonquin Power & Utilities Corp.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Total Revenue | 2.3B | 2.4B | 2.8B | 2.3B |
| Operating Revenue | 2.3B | 2.4B | 2.7B | 2.2B |
| Cost Of Revenue | 594.3M | 743.5M | 866.4M | 713.9M |
| Gross Profit | 1.7B | 1.7B | 1.9B | 1.6B |
| Selling General And Administration | -- | 90.4M | 80.2M | 66.7M |
| General And Administrative Expense | -- | 90.4M | 80.2M | 66.7M |
| Depreciation And Amortization In Income Statement | 395.7M | 354.1M | 455.5M | 403.0M |
| Other Operating Expenses | 880.0M | 823.9M | 851.5M | 702.1M |
| Operating Expense | 1.3B | 1.2B | 1.4B | 1.2B |
| Operating Income | 449.6M | 482.4M | 511.4M | 388.4M |
| EBIT | 566.5M | 266.0M | -75.9M | 369.9M |
| Interest Expense | 389.3M | 328.1M | 293.7M | 227.7M |
| Interest Expense Non Operating | 389.3M | 328.1M | 293.7M | 227.7M |
| Interest Income | 28.2M | 28.7M | 22.5M | 39.0M |
| Interest Income Non Operating | 28.2M | 28.7M | 22.5M | 39.0M |
| Net Interest Income | -358.4M | -301.7M | -272.7M | -188.8M |
| Other Income Expense | 86.0M | -242.9M | -608.4M | -57.4M |
| Other Non Operating Income Expenses | -7.9M | 4.3M | 3.3M | -24.8M |
| Special Income Charges | -5.7M | -108.1M | -188.9M | 14.6M |
| Restructuring And Mergern Acquisition | 0.00 | 34.5M | 17.4M | 14.5M |
| Write Off | 0.00 | 63.5M | 75.9M | 0.00 |
| Gain On Sale Of Security | 95.3M | -137.2M | -401.4M | -20.9M |
| Earnings From Equity Interest | 4.3M | -1.9M | -21.4M | -26.3M |
| Pretax Income | 177.2M | -62.1M | -369.7M | 142.2M |
| Tax Provision | 186.8M | -37.1M | -61.5M | -43.4M |
| Tax Effect Of Unusual Items | 13.4M | -98.1M | -98.2M | -1.7M |
| Net Income From Continuing And Discontinued Operation | -1.4B | 28.7M | -212.0M | 264.9M |
| Net Income From Continuing Operation Net Minority Interest | 125.8M | 36.9M | -212.0M | 264.9M |
| Net Income Including Noncontrolling Interests | -1.5B | -33.3M | -308.2M | 185.7M |
| Minority Interests | 135.4M | 62.0M | 96.2M | 79.2M |
| Net Income Common Stockholders | -1.4B | 20.3M | -220.7M | 255.9M |
| Net Income | -1.4B | 28.7M | -212.0M | 264.9M |
| EBITDA | 1.0B | 733.0M | 379.6M | 772.9M |
| Normalized EBITDA | 953.6M | 978.2M | 969.9M | 779.2M |
| Reconciled Depreciation | 476.7M | 467.0M | 455.5M | 403.0M |
| Basic EPS | -1.90 | 0.03 | -0.33 | 0.41 |
| Diluted EPS | -1.90 | 0.03 | -0.33 | 0.41 |
| Basic Average Shares | 731.7M | 688.7M | 677.9M | 622.3M |
| Diluted Average Shares | 734.0M | 690.8M | 677.9M | 628.9M |
| Total Unusual Items | 89.6M | -245.2M | -590.3M | -6.3M |
| Total Unusual Items Excluding Goodwill | 89.6M | -245.2M | -590.3M | -6.3M |
| Tax Rate For Calcs | 0.15 | 0.40 | 0.17 | 0.27 |
| Normalized Income | 49.6M | 184.1M | 280.1M | 269.5M |
| Depreciation Amortization Depletion Income Statement | 395.7M | 354.1M | 455.5M | 403.0M |
| Diluted NI Availto Com Stockholders | -1.4B | 20.3M | -220.7M | 255.9M |
| Gain On Sale Of Business | -- | -12.5M | 0.00 | -- |
| Gain On Sale Of Ppe | -5.7M | 0.00 | 64.0M | 29.1M |
| Impairment Of Capital Assets | 0.00 | 1.5M | 159.6M | 0.00 |
| Net Income Continuous Operations | -9.6M | -25.1M | -308.2M | 185.7M |
| Net Income Discontinuous Operations | -1.5B | -8.2M | -- | -- |
| Net Non Operating Interest Income Expense | -358.4M | -301.7M | -272.7M | -188.8M |
| Other Gand A | -- | 90.4M | 80.2M | 66.7M |
| Other Special Charges | -- | 8.5M | -- | -- |
| Other Taxes | -- | -- | -- | 0.00 |
| Preferred Stock Dividends | 10.5M | 8.4M | 8.7M | 9.0M |
| Reconciled Cost Of Revenue | 513.3M | 630.6M | 866.4M | 713.9M |
| Salaries And Wages | -- | 19.9M | 10.9M | 0.00 |
| Total Expenses | 1.9B | 1.9B | 2.3B | 1.9B |
| Total Operating Income As Reported | 446.1M | 467.3M | 402.0M | 413.1M |
| Total Other Finance Cost | -2.8M | 2.3M | 1.4M | 61,000 |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Cash And Cash Equivalents | 34.8M | 25.1M | 57.6M | 125.2M |
| Cash Cash Equivalents And Short Term Investments | 34.8M | 25.1M | 57.6M | 125.2M |
| Cash Financial | 34.8M | 25.1M | 57.6M | 125.2M |
| Accounts Receivable | 329.4M | 318.4M | 403.9M | 320.1M |
| Receivables | 422.6M | 401.4M | 528.1M | 403.4M |
| Inventory | 223.6M | 222.4M | 224.9M | 177.8M |
| Prepaid Assets | 68.8M | 65.8M | 58.7M | 54.5M |
| Other Current Assets | 207.7M | 158.8M | 213.0M | 174.4M |
| Current Assets | 1.1B | 1.1B | 1.1B | 938.7M |
| Gross PPE | 11.2B | 10.5B | 14.0B | 12.6B |
| Accumulated Depreciation | -1.7B | -1.3B | -2.1B | -1.6B |
| Net PPE | 9.5B | 9.1B | 11.9B | 11.0B |
| Goodwill | 1.3B | 1.3B | 1.3B | 1.2B |
| Goodwill And Other Intangible Assets | 1.4B | 1.4B | 1.4B | 1.3B |
| Other Intangible Assets | 69.1M | 72.5M | 96.7M | 105.1M |
| Investments And Advances | 67.8M | 1.2B | 1.8B | 2.3B |
| Long Term Equity Investment | 38.1M | 112.7M | 381.8M | 433.9M |
| Other Investments | 27.6M | 27.4M | 27.6M | 30.5M |
| Other Non Current Assets | 3.7B | 4.2B | 127.3M | 107.5M |
| Total Non Current Assets | 15.8B | 17.3B | 16.5B | 15.9B |
| Total Assets | 17.0B | 18.4B | 17.6B | 16.8B |
| Current Debt | 491.7M | 621.9M | 423.3M | 356.4M |
| Current Debt And Capital Lease Obligation | 491.7M | 621.9M | 423.3M | 356.4M |
| Accounts Payable | 164.2M | 180.4M | 186.1M | 185.3M |
| Payables | 213.9M | 255.4M | 311.7M | 299.8M |
| Payables And Accrued Expenses | 717.1M | 736.1M | 867.5M | 728.6M |
| Current Accrued Expenses | 503.2M | 480.7M | 555.8M | 428.7M |
| Other Current Liabilities | 288.6M | 327.2M | 243.7M | 279.7M |
| Current Liabilities | 1.5B | 1.7B | 1.5B | 1.4B |
| Long Term Debt | 6.2B | 6.9B | 7.1B | 5.9B |
| Long Term Debt And Capital Lease Obligation | 6.2B | 6.9B | 7.1B | 5.9B |
| Other Non Current Liabilities | 273.8M | 310.2M | 461.2M | 515.9M |
| Total Non Current Liabilities Net Minority Interest | 9.3B | 9.7B | 8.9B | 7.7B |
| Total Liabilities Net Minority Interest | 10.8B | 11.4B | 10.5B | 9.1B |
| Common Stock | 7.4B | 6.2B | 6.2B | 6.0B |
| Capital Stock | 7.6B | 6.4B | 6.4B | 6.2B |
| Additional Paid In Capital | -19.2M | 7.3M | 9.4M | 2.0M |
| Retained Earnings | -2.9B | -1.3B | -997.9M | -288.4M |
| Gains Losses Not Affecting Retained Earnings | 81.4M | -102.3M | -160.1M | -71.7M |
| Other Equity Adjustments | 81.4M | -102.3M | -160.1M | -71.7M |
| Common Stock Equity | 4.5B | 4.9B | 5.0B | 5.7B |
| Stockholders Equity | 4.7B | 5.0B | 5.2B | 5.9B |
| Total Equity Gross Minority Interest | 6.2B | 6.9B | 7.2B | 7.7B |
| Minority Interest | 1.5B | 1.9B | 1.9B | 1.8B |
| Total Capitalization | 10.9B | 11.9B | 12.3B | 11.7B |
| Net Tangible Assets | 3.3B | 3.6B | 3.8B | 4.6B |
| Tangible Book Value | 3.1B | 3.5B | 3.6B | 4.4B |
| Working Capital | -362.3M | -618.8M | -440.0M | -426.0M |
| Invested Capital | 11.2B | 12.4B | 12.5B | 11.9B |
| Total Debt | 6.7B | 7.5B | 7.5B | 6.2B |
| Net Debt | 6.7B | 7.5B | 7.5B | 6.1B |
| Share Issued | 767.3M | 689.3M | 683.6M | 672.0M |
| Ordinary Shares Number | 767.3M | 689.3M | 683.6M | 672.0M |
| Allowance For Doubtful Accounts Receivable | -- | -30.2M | -24.9M | -19.3M |
| Assets Held For Sale Current | 166.5M | 187.3M | -- | -- |
| Construction In Progress | 433.7M | 742.2M | 1.0B | 758.4M |
| Derivative Product Liabilities | 17.5M | 6.0M | 137.8M | 81.7M |
| Dividends Payable | 49.7M | 75.0M | 125.7M | 114.5M |
| Employee Benefits | 73.6M | 96.5M | 125.6M | 238.1M |
| Financial Assets | 97.4M | 69.2M | 71.6M | 17.1M |
| Financial Assets Designatedas Fair Value Through Profitor Loss Total | -- | 1.1B | 1.3B | 1.8B |
| Gross Accounts Receivable | -- | 447.4M | 403.9M | 320.1M |
| Hedging Assets Current | 11.1M | 5.6M | 12.3M | 3.5M |
| Investmentin Financial Assets | 2.1M | 1.1B | 1.3B | 1.8B |
| Liabilities Heldfor Sale Non Current | 1.6B | 1.3B | -- | -- |
| Non Current Deferred Assets | 11.2M | 151.6M | 84.4M | 31.6M |
| Non Current Deferred Liabilities | 577.2M | 566.3M | 565.6M | 530.2M |
| Non Current Deferred Taxes Assets | 11.2M | 151.6M | 84.4M | 31.6M |
| Non Current Deferred Taxes Liabilities | 577.2M | 566.3M | 565.6M | 530.2M |
| Non Current Note Receivables | -- | 158.1M | 52.9M | 31.5M |
| Non Current Pension And Other Postretirement Benefit Plans | 73.6M | 96.5M | 125.6M | 238.1M |
| Other Current Borrowings | 491.7M | 621.9M | 423.3M | 356.4M |
| Other Inventories | 43.7M | 49.0M | 95.3M | 74.2M |
| Other Properties | 117.7M | 118.3M | 224.9M | 216.8M |
| Preferred Shares Number | 8.8M | 8.8M | 8.8M | 8.8M |
| Preferred Stock | 184.3M | 184.3M | 184.3M | 184.3M |
| Preferred Stock Equity | 184.3M | 184.3M | 184.3M | 184.3M |
| Receivables Adjustments Allowances | -27.1M | -29.8M | -24.9M | -19.3M |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Operating Cash Flow | 481.7M | 628.0M | 619.1M | 157.5M |
| Cash Flow From Continuing Operating Activities | 481.7M | 628.0M | 619.1M | 157.5M |
| Depreciation And Amortization | 476.7M | 467.0M | 455.5M | 403.0M |
| Depreciation Amortization Depletion | 476.7M | 467.0M | 455.5M | 403.0M |
| Stock Based Compensation | 18.4M | 10.4M | 10.9M | 8.4M |
| Deferred Tax | 105.6M | -76.6M | -69.4M | -50.7M |
| Deferred Income Tax | 105.6M | -76.6M | -69.4M | -50.7M |
| Change In Working Capital | -139.4M | -86.3M | -221.6M | -522.0M |
| Changes In Account Receivables | 15.6M | 3.9M | -124.6M | -56.8M |
| Change In Receivables | 13.6M | 974,000 | -124.1M | -59.8M |
| Change In Inventory | -1.9M | -2.2M | -45.2M | -43.2M |
| Change In Payables And Accrued Expense | -46.1M | 23.4M | 148.7M | 2.8M |
| Change In Payable | -46.1M | 23.4M | 21.7M | -29.0M |
| Change In Other Working Capital | -116.6M | -95.4M | -196.8M | -420.7M |
| Other Non Cash Items | 1.5B | 105.0M | 6.2M | 653,000 |
| Capital Expenditure | -872.4M | -1.0B | -1.1B | -1.3B |
| Purchase Of PPE | -872.4M | -1.0B | -1.1B | -1.3B |
| Net PPE Purchase And Sale | -872.4M | -1.0B | -1.1B | -1.3B |
| Purchase Of Business | -- | 0.00 | -632.8M | 0.00 |
| Sale Of Business | 29.5M | -- | -- | -- |
| Purchase Of Investment | -115.1M | -243.7M | -221.3M | -622.3M |
| Sale Of Investment | 1.1B | 11.7M | 2.9M | 220,000 |
| Net Investment Purchase And Sale | 985.0M | -232.0M | -218.4M | -622.1M |
| Investing Cash Flow | 132.7M | -1.1B | -1.8B | -1.8B |
| Cash Flow From Continuing Investing Activities | 132.7M | -1.1B | -1.8B | -1.8B |
| Issuance Of Debt | 4.0B | 3.1B | 4.7B | 12.8B |
| Repayment Of Debt | -5.4B | -2.3B | -3.3B | -12.9B |
| Net Issuance Payments Of Debt | -1.4B | 810.9M | 1.4B | -61.0M |
| Issuance Of Capital Stock | 1.2B | 5.2M | 43.5M | 985.6M |
| Repurchase Of Capital Stock | 0.00 | -14.5M | 0.00 | -3.4M |
| Net Common Stock Issuance | 1.2B | 5.2M | 43.5M | 985.6M |
| Common Stock Dividend Paid | -285.1M | -322.5M | -378.6M | -307.1M |
| Common Stock Payments | -- | -- | -4.7M | -3.4M |
| Financing Cash Flow | -556.4M | 442.8M | 1.1B | 1.7B |
| Cash Flow From Continuing Financing Activities | -556.4M | 442.8M | 1.1B | 1.7B |
| Effect Of Exchange Rate Changes | -3.1M | -267,000 | -1.1M | -1.7M |
| Changes In Cash | 58.0M | -24.8M | -59.1M | 33.1M |
| Beginning Cash Position | 76.1M | 101.2M | 161.4M | 130.0M |
| End Cash Position | 131.1M | 76.1M | 101.2M | 161.4M |
| Free Cash Flow | -390.7M | -398.1M | -469.9M | -1.2B |
| Income Tax Paid Supplemental Data | -- | 7.2M | 11.0M | 5.0M |
| Interest Paid Supplemental Data | 432.7M | 368.5M | 272.7M | 219.0M |
| Asset Impairment Charge | 0.00 | 23.5M | 235.5M | 0.00 |
| Cash Dividends Paid | -295.6M | -330.8M | -387.3M | -316.1M |
| Change In Account Payable | -58.6M | 22.3M | 24.4M | -33.4M |
| Change In Accrued Expense | -- | -488,000 | 127.1M | 31.8M |
| Change In Income Tax Payable | 12.5M | 1.1M | -2.7M | 4.4M |
| Change In Prepaid Assets | 11.5M | -13.2M | -4.3M | -1.2M |
| Change In Tax Payable | 12.5M | 1.1M | -2.7M | 4.4M |
| Common Stock Issuance | 1.2B | 5.2M | 43.5M | 985.6M |
| Dividend Received Cfo | 42.2M | 11.7M | 23.8M | 29.8M |
| Dividends Received Cfi | -- | -- | -- | 220,000 |
| Gain Loss On Investment Securities | -5.8M | -15.5M | 2.5M | -5.6M |
| Long Term Debt Issuance | 4.0B | 3.1B | 4.7B | 12.8B |
| Long Term Debt Payments | -5.4B | -2.3B | -3.3B | -12.9B |
| Net Business Purchase And Sale | 29.5M | 0.00 | -632.8M | 0.00 |
| Net Income From Continuing Operations | -1.5B | -33.3M | -308.2M | 185.7M |
| Net Long Term Debt Issuance | -1.4B | 810.9M | 1.4B | -61.0M |
| Net Other Financing Charges | -6.9M | -28.0M | 89.3M | 1.1B |
| Net Other Investing Changes | -9.4M | 162.5M | 151.8M | 169.0M |
| Net Preferred Stock Issuance | 0.00 | -14.5M | 0.00 | -- |
| Operating Gains Losses | -6.2M | -23.3M | -12.9M | -19.8M |
| Pension And Employee Benefit Expense | -432,000 | -7.8M | -15.3M | -14.1M |
| Preferred Stock Dividend Paid | -10.5M | -8.4M | -8.7M | -9.0M |
| Preferred Stock Payments | 0.00 | -14.5M | 0.00 | -- |
| Proceeds From Stock Option Exercised | -- | -- | -- | -3.4M |
| Unrealized Gain Loss On Investment Securities | 38.0M | 230.0M | 499.1M | 122.4M |