Income Statement Northland Power Inc.

Equities

NPI

CA6665111002

Independent Power Producers

Market Closed - Toronto S.E. Other stock markets 16:00:00 2024-09-13 EDT			5-day change	1st Jan Change
22.35 ^CAD	+1.22%		+9.34%	-7.15%

08-21	Northland Power Confirms Carbon Dioxide Leak at Hai Long Offshore Wind Project in Taiwan	MT
08-15	Transcript : Northland Power Inc., Q2 2024 Earnings Call, Aug 15, 2024

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Published financial data: NORTHLAND POWER INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	1.66B	2.06B	2.09B	2.45B	2.23B
Total Revenues	1.66B	2.06B	2.09B	2.45B	2.23B
Operations And Maintenance	214M	301M	328M	352M	409M
Selling General & Admin Expenses, Total	89.58M	135M	138M	161M	229M
Depreciation & Amortization - (IS) - (Collected)	439M	530M	613M	571M	596M
Amortization of Goodwill and Intangible Assets - (IS)	24.85M	43.36M	23.28M	53.61M	57.02M
Other Operating Expenses	116M	202M	213M	270M	212M
Total Operating Expenses	884M	1.21B	1.32B	1.41B	1.5B
Operating Income (REIT / Utility Template)	775M	849M	778M	1.04B	731M
Interest Expense, Total	-272M	-321M	-318M	-333M	-376M
Interest and Investment Income	18.43M	20.6M	18.45M	24.79M	72.42M
Net Interest Expenses	-254M	-301M	-299M	-308M	-304M
Income (Loss) on Equity Invest.	-	-	-2.78M	-	-280M
Currency Exchange Gains (Loss)	-5.18M	71.34M	-81.32M	41.79M	39.73M
Other Non Operating Income (Expenses)	114M	-33.19M	66.05M	487M	-80.19M
EBT, Excl. Unusual Items	630M	587M	461M	1.26B	107M
Total Merger & Related Restructuring Charges	-1.25M	-7.47M	-7.67M	-895K	-549K
Impairment of Goodwill	-	-	-29.98M	-	-163M
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	-723K	-	-	-	-
Asset Writedown	-97.78M	-	-	-	-
Insurance Settlements	-	21M	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	530M	600M	423M	1.26B	-57M
Income Tax Expense	78.73M	115M	153M	305M	39.13M
Earnings From Continuing Operations	452M	485M	270M	955M	-96.13M
Net Income to Company	452M	485M	270M	955M	-96.13M
Minority Interest	-131M	-124M	-80.32M	-128M	-79.06M
Net Income - (IS)	321M	361M	190M	828M	-175M
Preferred Dividend and Other Adjustments	11.73M	11.36M	10.81M	11.21M	6.1M
Net Income to Common Incl Extra Items	309M	350M	179M	817M	-181M
Net Income to Common Excl. Extra Items	309M	350M	179M	817M	-181M
Per Share Items
Net EPS - Basic	1.71	1.76	0.82	3.46	-0.72
Basic EPS - Continuing Operations	1.71	1.76	0.82	3.46	-0.72
Basic Weighted Average Shares Outstanding	180M	199M	219M	236M	253M
Net EPS - Diluted	1.68	1.75	0.82	3.46	-0.72
Diluted EPS - Continuing Operations	1.68	1.75	0.82	3.46	-0.72
Diluted Weighted Average Shares Outstanding	188M	201M	219M	236M	253M
Normalized Basic EPS	1.46	1.22	0.95	2.8	-0.05
Normalized Diluted EPS	1.4	1.21	0.95	2.8	-0.05
Dividend Per Share	1.2	1.2	1.2	1.2	1.2
Payout Ratio	67.46	61.02	91.14	25.14	-120.54
Distributable Cash per Share	1.77	2.09	1.77	1.95	1.97
Distributable Cash Shares (Basic)	180M	199M	219M	236M	253M
Distributable Cash per Share (Diluted)	1.73	2.07	1.77	-	-
Distributable Cash Shares (Diluted)	188M	201M	219M	-	-
Distributable Cash Payout Ratio (Income Trusts)	67.95	59	68.38	61.75	60.94
Supplemental Items
Utility Revenues	1.65B	2.03B	2.07B	2.44B	2.22B
Non Utility Revenues	12.93M	28.61M	27.79M	8.45M	15.77M
EBITDA	1.24B	1.42B	1.41B	1.65B	1.37B
EBITA	805M	896M	806M	1.1B	795M
EBIT	775M	849M	778M	1.04B	731M
EBITDAR	-	1.42B	1.41B	1.66B	1.38B
Total Revenues (As Reported)	-	2.06B	2.09B	2.45B	2.23B
Effective Tax Rate - (Ratio)	14.84	19.17	36.23	24.18	-68.64
Total Current Taxes	49.24M	90.28M	84.41M	203M	144M
Total Deferred Taxes	29.49M	24.73M	68.94M	101M	-104M
Normalized Net Income	263M	242M	208M	660M	-12.37M
Distributable Cash	318M	415M	386M	461M	498M
Interest Capitalized	22M	1.9M	2.6M	5M	13.5M
Interest on Long-Term Debt	37.88M	40.58M	32.94M	32.7M	50.6M
Supplemental Operating Expense Items
Marketing Expenses	-	-	21.76M	26.86M	35.7M
Selling and Marketing Expenses	-	-	21.76M	26.86M	35.7M
General and Administrative Expenses	89.58M	135M	60.02M	83.07M	115M
Research And Development Expense From Footnotes	-	-	-	-	-
Net Rental Expense, Total	-	5M	5M	6M	7M
Imputed Operating Lease Interest Expense	-	1.61M	1.56M	2.12M	2.99M
Imputed Operating Lease Depreciation	-	3.39M	3.44M	3.88M	4.01M
Stock-Based Comp., Other (Total)	400K	5.85M	4.14M	4.97M	3.93M
Total Stock-Based Compensation	400K	5.85M	4.14M	4.97M	3.93M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	268M	435M	674M	1.3B	642M
Short Term Investments - (Utility / Insurance Templates)	-	-	-	147M	-
Trading Asset Securities, Total	75K	-	115K	112M	121M
Accounts Receivable, Total	281M	354M	370M	381M	304M
Other Receivables	19M	23M	18M	22M	91.99M
Accounts Receivable (Summary Subtotal)	300M	377M	388M	403M	396M
Inventory - (Utility Template)	21.51M	24.14M	36.61M	43.78M	-
Prepaid Expenses	18.84M	37.72M	36.42M	46.73M	-
Restricted Cash	623M	193M	156M	160M	171M
Other Current Assets, Total	47.56M	10.65M	124M	136M	116M
Total Current Assets	1.28B	1.08B	1.41B	2.35B	1.45B
Gross Property Plant And Equipment	10.35B	11.55B	12.95B	12.86B	13.27B
Accumulated Depreciation	-2.28B	-2.87B	-3.37B	-3.49B	-4.09B
Net Property Plant And Equipment	8.07B	8.68B	9.59B	9.38B	9.18B
Goodwill	205M	709M	753M	713M	639M
Other Intangibles, Total	521M	533M	498M	516M	447M
Long-Term Investments - (Utility Template)	166K	2.84M	159M	801M	1.06B
Accounts Receivable Long-Term	141M	136M	131M	126M	141M
Loans Receivable Long-Term - (Utility Template)	-	-	-	-	405M
Deferred Tax Assets Long-Term (Collected)	50.81M	67.63M	60.93M	27.24M	44.73M
Deferred Charges Long-Term	-	-	-	-	5M
Other Long-Term Assets, Total	210M	194M	274M	314M	262M
Total Assets	10.48B	11.4B	12.88B	14.22B	13.63B
Liabilities
Accounts Payable, Total	185M	243M	492M	985M	162M
Accrued Expenses, Total	-	-	-	-	26M
Short-Term Borrowings	-	-	-	-	15M
Current Portion of Long-Term Debt	831M	749M	773M	795M	746M
Current Portion of Leases	7.76M	9.73M	12.92M	16.75M	16.14M
Current Income Taxes Payable	-	-	-	-	88.36M
Unearned Revenue, Current	-	-	-	-	25.76M
Other Current Liabilities - (Bank / Utility Template)	373M	57.99M	127M	112M	197M
Total Current Liabilities	1.4B	1.06B	1.4B	1.91B	1.28B
Long-Term Debt	6.89B	7.43B	7.28B	6.18B	6.49B
Long-Term Leases	59.25M	57.74M	138M	138M	171M
Unearned Revenue Non Current	-	-	99M	-	-
Pension & Other Post Retirement Benefits	-	-	30.68M	22.56M	34.65M
Deferred Tax Liability Non-Current	243M	368M	531M	698M	590M
Other Non Current Liabilities, Total	379M	479M	424M	547M	584M
Total Liabilities	8.97B	9.4B	9.91B	9.5B	9.14B
Preferred Stock Redeemable	261M	261M	261M	145M	145M
Total Preferred Equity	261M	261M	261M	145M	145M
Common Stock, Total	2.44B	2.96B	4.01B	4.95B	5.09B
Additional Paid In Capital	351K	3.22M	3.59M	5.54M	5.98M
Retained Earnings	-1.47B	-1.36B	-1.23B	-701M	-1.16B
Comprehensive Income and Other	-175M	-283M	-280M	-4.04M	108M
Total Common Equity	803M	1.31B	2.5B	4.25B	4.04B
Minority Interest	447M	428M	209M	333M	298M
Total Equity	1.51B	2B	2.97B	4.72B	4.48B
Total Liabilities And Equity	10.48B	11.4B	12.88B	14.22B	13.63B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	194M	202M	227M	251M	256M
ECS Total Common Shares Outstanding	180M	202M	227M	250M	255M
Book Value / Share	4.45	6.5	11	16.98	15.85
Tangible Book Value	76.74M	72.26M	1.24B	3.02B	2.95B
Tangible Book Value Per Share	0.43	0.36	5.49	12.07	11.59
Total Debt	7.79B	8.25B	8.21B	7.13B	7.44B
Net Debt	7.52B	7.81B	7.53B	5.58B	6.67B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	45.06M	30.68M	22.56M	34.65M
Debt Equivalent Oper. Leases	-	40M	40M	48M	56M
Minority Interest, Total (Incl. Fin. Div)	447M	428M	209M	333M	298M
Equity Method Investments, Total	-	-	131M	442M	900M
Account Code - Inventory Valuation	6	3	3	3	3
Inventories - Finished Goods, Total	484K	384K	664K	722K	-
Inventories - Others	21.03M	23.75M	35.94M	43.06M	-
Land - (BS)	2B	2.1B	1.99B	1.87B	2.05B
Buildings, Total	-	-	-	-	-
Machinery, Total	8.24B	9.16B	10.16B	9.96B	10.76B
Full Time Employees	-	1.15K	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	321M	361M	190M	828M	-175M
Depreciation, Depletion & Amortization	439M	530M	613M	571M	596M
Amortization of Goodwill and Intangible Assets - (CF)	29.28M	47.29M	27.58M	57.43M	64.15M
Total Depreciation, Depletion & Amortization	468M	577M	640M	629M	660M
Amortization of Deferred Charges, Total	36.2M	36.84M	28.23M	24.32M	33.02M
(Gain) Loss On Sale of Asset - (CF)	723K	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-205M
Total Asset Writedown	97.78M	-	29.98M	-	163M
(Income) Loss On Equity Investments - (CF)	-	-	-	-	280M
Change in Other Net Operating Assets (Collected)	17.1M	-32.33M	292M	290M	-466M
Other Operating Activities	284M	379M	429M	62.54M	496M
Cash from Operations	1.22B	1.32B	1.61B	1.83B	785M
Capital Expenditure	-766M	-227M	-470M	-453M	-441M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-	-736M	-502M	-37.77M	-
Purchase / Sale of Intangible Assets	-	-	-	-32.78M	-1.05M
Investment in Marketable and Equity Securities, Total	-2.51M	-	-	-203M	-1.01B
Deferred Charges	-	-	-	-	-
Other Investing Activities, Total	10.55M	123M	-59.34M	96.92M	287M
Cash from Investing	-758M	-839M	-1.03B	-630M	-1.17B
Long-Term Debt Issued, Total	1.19B	2.12B	890M	2.79B	2.21B
Total Debt Issued	1.19B	2.12B	890M	2.79B	2.21B
Long-Term Debt Repaid, Total	-1.13B	-2.17B	-1.57B	-3.5B	-1.88B
Total Debt Repaid	-1.13B	-2.17B	-1.57B	-3.5B	-1.88B
Issuance of Common Stock	-	341M	950M	852M	40.91M
Repurchase of Preferred Stock	-	-	-	-122M	-
Common Dividends Paid	-216M	-220M	-173M	-197M	-205M
Preferred Dividends Paid	-	-	-	-11.21M	-6.1M
Common & Preferred Stock Dividends Paid	-216M	-220M	-173M	-208M	-211M
Other Financing Activities, Total	-325M	-459M	-321M	-420M	-431M
Cash from Financing	-471M	-390M	-226M	-605M	-262M
Foreign Exchange Rate Adjustments	-5.52M	74M	-114M	27.68M	-10.47M
Net Change in Cash	-10.21M	167M	239M	626M	-657M
Supplemental Items
Cash Interest Paid	292M	314M	281M	336M	326M
Net Debt Issued / Repaid	69.91M	-51.19M	-682M	-707M	340M
Levered Free Cash Flow	139M	834M	709M	1.04B	-75.03M
Unlevered Free Cash Flow	273M	998M	880M	1.23B	127M
Change In Net Working Capital	-85.76M	-111M	-219M	-429M	551M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.66	4.85	4.01	4.8	3.28
Return on Total Capital	5.16	5.43	4.54	5.66	3.84
Return On Equity %	29.61	27.61	10.86	24.85	-2.09
Return on Common Equity	38.3	33.03	8.88	24.22	-4.38
Margin Analysis
Gross Profit Margin %	80.08	75.58	74.14	74.58	72.21
SG&A Margin	5.4	6.57	6.58	6.59	10.25
EBITDA Margin %