Balance Sheet ATCO Ltd.

Equities

ACO.X

CA0467894006

Multiline Utilities

Delayed Toronto S.E. Other stock markets 02:37:32 2024-09-16 pm EDT			5-day change	1st Jan Change
46.42 ^CAD	+0.57%		+2.81%	+20.09%

Sep. 03	Atco Brief: ATCO Structures Completes Acquisition of NRB Modular Solutions	MT
Aug. 06	ATCO's Price Target Raised to $40 from $39 by National Bank of Canada	MT

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Published financial data: ATCO LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	4.71B	3.94B	4.29B	4.98B	4.74B
Total Revenues	4.71B	3.94B	4.29B	4.98B	4.74B
Fuel & Purchased Power	406M	297M	412M	484M	387M
Operations And Maintenance	272M	200M	211M	245M	264M
Selling General & Admin Expenses, Total	146M	11M	19M	18M	17M
Depreciation & Amortization - (IS) - (Collected)	637M	669M	717M	717M	770M
Other Operating Expenses	1.92B	1.75B	1.96B	2.3B	2.06B
Total Operating Expenses	3.38B	2.92B	3.32B	3.76B	3.5B
Operating Income (REIT / Utility Template)	1.33B	1.02B	966M	1.22B	1.24B
Interest Expense, Total	-493M	-425M	-437M	-436M	-500M
Interest and Investment Income	27M	18M	14M	45M	66M
Net Interest Expenses	-466M	-407M	-423M	-391M	-434M
Income (Loss) on Equity Invest.	39M	49M	75M	95M	94M
Other Non Operating Income (Expenses)	-	-	-	-	220M
EBT, Excl. Unusual Items	899M	663M	618M	922M	1.12B
Restructuring Charges	-	-	-	-	-
Total Merger & Related Restructuring Charges	-	-	-1M	-1M	-
Gain (Loss) on Sale of Investments	-	-	-	-	7M
Gain (Loss) on Sale of Assets	174M	-	-	-	-
Asset Writedown	-	-	-	-	-41M
Legal Settlements	-	-	-	-	-28M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	1.07B	663M	617M	921M	1.06B
Income Tax Expense	66M	166M	148M	214M	242M
Earnings From Continuing Operations	1.01B	497M	469M	707M	819M
Net Income to Company	1.01B	497M	469M	707M	819M
Minority Interest	-494M	-245M	-223M	-337M	-387M
Net Income - (IS)	513M	252M	246M	370M	432M
Net Income to Common Incl Extra Items	513M	252M	246M	370M	432M
Net Income to Common Excl. Extra Items	513M	252M	246M	370M	432M
Per Share Items
Net EPS - Basic	4.49	2.2	2.15	3.25	3.82
Basic EPS - Continuing Operations	4.49	2.2	2.15	3.25	3.82
Basic Weighted Average Shares Outstanding	114M	114M	114M	114M	113M
Net EPS - Diluted	4.47	2.2	2.15	3.24	3.82
Diluted EPS - Continuing Operations	4.47	2.2	2.15	3.24	3.82
Diluted Weighted Average Shares Outstanding	115M	115M	114M	114M	113M
Normalized Basic EPS	0.59	1.48	1.43	2.1	2.78
Normalized Diluted EPS	0.59	1.48	1.43	2.09	2.78
Dividend Per Share	1.62	1.74	1.79	1.85	1.9
Payout Ratio	36.26	79.36	83.33	57.03	49.77
Supplemental Items
Utility Revenues	3.9B	3.23B	3.52B	4.05B	3.8B
Non Utility Revenues	801M	711M	774M	930M	945M
EBITDA	1.89B	1.61B	1.62B	1.87B	1.97B
EBITA	1.33B	1.03B	997M	1.23B	1.29B
EBIT	1.33B	1.02B	966M	1.22B	1.24B
EBITDAR	1.91B	1.63B	1.64B	1.89B	2B
Effective Tax Rate - (Ratio)	6.15	25.04	23.99	23.24	22.81
Total Current Taxes	77M	39M	32M	53M	46M
Total Deferred Taxes	-11M	127M	116M	161M	196M
Normalized Net Income	67.88M	169M	163M	239M	315M
Interest Capitalized	16M	13M	6M	14M	21M
Interest on Long-Term Debt	492M	419M	416M	424M	485M
Non-Cash Pension Expense	-3M	14M	9M	4M	2M
Supplemental Operating Expense Items
Net Rental Expense, Total	19M	22M	20M	20M	21M
Imputed Operating Lease Interest Expense	7.54M	7.99M	7.12M	7.07M	8.19M
Imputed Operating Lease Depreciation	11.46M	14.01M	12.88M	12.93M	12.81M
Maintenance & Repair Expenses, Total	272M	200M	211M	245M	264M
Stock-Based Comp., SG&A Exp. (Total)	5M	-4M	4M	3M	2M
Stock-Based Comp., Other (Total)	3M	-	1M	1M	-
Total Stock-Based Compensation	8M	-4M	5M	4M	2M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.14B	1.1B	1.09B	1.03B	288M
Short Term Investments - (Utility / Insurance Templates)	-	-	-	-	304M
Trading Asset Securities, Total	-	-	-	7M	22M
Accounts Receivable, Total	709M	721M	823M	928M	867M
Other Receivables	64M	62M	75M	74M	90M
Accounts Receivable (Summary Subtotal)	773M	783M	898M	1B	957M
Inventory - (Utility Template)	64M	76M	61M	80M	114M
Prepaid Expenses	40M	47M	117M	51M	61M
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	20M	30M	54M	188M	90M
Total Current Assets	2.04B	2.04B	2.22B	2.36B	1.84B
Gross Property Plant And Equipment	23.78B	24.72B	25.53B	26.7B	28.6B
Accumulated Depreciation	-5.83B	-6.3B	-6.66B	-7.09B	-7.63B
Net Property Plant And Equipment	17.95B	18.42B	18.88B	19.61B	20.97B
Goodwill	82M	82M	73M	89M	242M
Other Intangibles, Total	662M	685M	752M	870M	1.03B
Long-Term Investments - (Utility Template)	660M	646M	681M	783M	727M
Accounts Receivable Long-Term	170M	168M	152M	141M	131M
Deferred Tax Assets Long-Term (Collected)	83M	85M	54M	64M	75M
Other Long-Term Assets, Total	56M	71M	193M	218M	348M
Total Assets	21.7B	22.2B	23B	24.14B	25.36B
Liabilities
Accounts Payable, Total	675M	695M	852M	1.16B	961M
Short-Term Borrowings	-	3M	209M	-	-
Current Portion of Long-Term Debt	174M	199M	352M	110M	531M
Current Portion of Leases	15M	16M	14M	16M	17M
Current Income Taxes Payable	12M	37M	12M	13M	23M
Other Current Liabilities - (Bank / Utility Template)	34M	124M	147M	226M	84M
Total Current Liabilities	910M	1.07B	1.59B	1.53B	1.62B
Long-Term Debt	9.27B	9.45B	9.5B	9.98B	10.52B
Long-Term Leases	84M	84M	76M	99M	104M
Unearned Revenue Non Current	1.72B	1.76B	1.87B	1.99B	2.04B
Pension & Other Post Retirement Benefits	429M	439M	292M	223M	244M
Deferred Tax Liability Non-Current	1.32B	1.44B	1.62B	1.84B	2.15B
Other Non Current Liabilities, Total	115M	105M	102M	135M	185M
Total Liabilities	13.84B	14.35B	15.06B	15.8B	16.86B
Common Stock, Total	173M	178M	180M	179M	187M
Additional Paid In Capital	12M	6M	8M	10M	14M
Retained Earnings	3.83B	3.88B	3.96B	4.09B	4.22B
Comprehensive Income and Other	-17M	-12M	-39M	97M	6M
Total Common Equity	4B	4.05B	4.11B	4.38B	4.42B
Minority Interest	3.86B	3.8B	3.84B	3.97B	4.08B
Total Equity	7.86B	7.85B	7.95B	8.34B	8.5B
Total Liabilities And Equity	21.7B	22.2B	23B	24.14B	25.36B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	114M	114M	114M	114M	112M
ECS Total Common Shares Outstanding	114M	114M	114M	114M	112M
Book Value / Share	34.98	35.45	36.02	38.5	39.44
Tangible Book Value	3.26B	3.28B	3.29B	3.42B	3.15B
Tangible Book Value Per Share	28.48	28.74	28.79	30.06	28.11
Total Debt	9.54B	9.75B	10.16B	10.2B	11.17B
Net Debt	8.4B	8.65B	9.06B	9.16B	10.56B
Debt Equivalent of Unfunded Proj. Benefit Obligation	304M	300M	72M	107M	94M
Debt Equivalent Oper. Leases	152M	176M	160M	160M	168M
Minority Interest, Total (Incl. Fin. Div)	3.86B	3.8B	3.84B	3.97B	4.08B
Equity Method Investments, Total	655M	646M	673M	737M	724M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	29M	38M	17M	29M	32M
Inventories - Work In Process, Total	10M	15M	25M	24M	20M
Inventories - Finished Goods, Total	25M	23M	19M	27M	45M
Inventories - Others	-	-	-	-	17M
Land - (BS)	996M	998M	1.06B	1.08B	1.09B
Machinery, Total	20.22B	21.14B	22.27B	22.9B	24.87B
Full Time Employees	6.56K	6.18K	14.79K	19.02K	20.18K
Accumulated Allowance for Doubtful Accounts (Supple)	9M	8M	13M	11M	11M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	513M	252M	246M	370M	432M
Depreciation, Depletion & Amortization	579M	596M	637M	657M	703M
Amortization of Goodwill and Intangible Assets - (CF)	7M	11M	31M	8M	47M
Total Depreciation, Depletion & Amortization	586M	607M	668M	665M	750M
Amortization of Deferred Charges, Total	51M	53M	49M	52M	20M
(Gain) Loss On Sale of Asset - (CF)	-174M	-	-	-	-
Total Asset Writedown	-	9M	-	-	41M
(Income) Loss On Equity Investments - (CF)	-2M	-12M	-75M	-95M	-94M
Change in Accounts Receivable	64M	28M	-110M	-120M	44M
Change In Inventories	-5M	-2M	12M	-9M	-34M
Change in Accounts Payable	-202M	12M	115M	281M	-138M
Change in Other Net Operating Assets (Collected)	-242M	1M	-13M	-5M	-65M
Other Operating Activities	953M	895M	972M	1.26B	1.01B
Cash from Operations	1.54B	1.84B	1.86B	2.4B	1.96B
Capital Expenditure	-1.13B	-940M	-1.2B	-1.44B	-1.42B
Sale of Property, Plant, and Equipment	4M	7M	30M	5M	4M
Cash Acquisitions	-5M	-	-84M	-41M	-691M
Divestitures	903M	-	-	8M	-
Purchase / Sale of Intangible Assets	-74M	-88M	-146M	-148M	-142M
Investment in Marketable and Equity Securities, Total	-9M	-9M	-27M	-8M	-307M
Other Investing Activities, Total	20M	-31M	44M	123M	-26M
Cash from Investing	-289M	-1.06B	-1.38B	-1.5B	-2.58B
Short Term Debt Issued, Total	-	-	206M	-	-
Long-Term Debt Issued, Total	632M	348M	534M	724M	2.02B
Total Debt Issued	632M	348M	740M	724M	2.02B
Short Term Debt Repaid, Total	-175M	-	-	-206M	-
Long-Term Debt Repaid, Total	-605M	-237M	-280M	-520M	-1.07B
Total Debt Repaid	-780M	-237M	-280M	-726M	-1.07B
Issuance of Common Stock	-	-	-	-	11M
Repurchase of Common Stock	-2M	-5M	-7M	-23M	-67M
Common Dividends Paid	-186M	-200M	-205M	-211M	-215M
Common & Preferred Stock Dividends Paid	-186M	-200M	-205M	-211M	-215M
Other Financing Activities, Total	-446M	-729M	-734M	-717M	-801M
Cash from Financing	-782M	-823M	-486M	-953M	-123M
Foreign Exchange Rate Adjustments	-22M	1M	-7M	-2M	-2M
Net Change in Cash	449M	-40M	-12M	-55M	-745M
Supplemental Items
Cash Interest Paid	498M	413M	401M	426M	485M
Cash Income Tax Paid (Refund)	94M	31M	51M	42M	52M
Net Debt Issued / Repaid	-148M	111M	460M	-2M	949M
Levered Free Cash Flow	128M	96.5M	-332M	-175M	-562M
Unlevered Free Cash Flow	436M	362M	-59.25M	97.25M	-249M
Change In Net Working Capital	-164M	-96M	39M	-198M	233M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.68	2.91	2.67	3.23	3.14
Return on Total Capital	4.63	3.65	3.38	4.15	4.07
Return On Equity %	13.16	6.33	5.94	8.68	9.73
Return on Common Equity	13.23	6.26	6.03	8.72	9.82
Margin Analysis
Gross Profit Margin %	66	65.69	63.32	62.58	63.99
SG&A Margin	14.81	13.84	13.71	12.33	13.9
EBITDA Margin %	40.25	40.87	37.72	37.48	41.64
EBITA Margin %	28.33	26.17	23.25	24.63	27.21
EBIT Margin %	28.18	25.89	22.52	24.47	26.22
Income From Continuing Operations Margin %	21.4	12.6	10.93	14.2	17.27
Net Income Margin %	10.9	6.39	5.74	7.43	9.11
Net Avail. For Common Margin %	10.9	6.39	5.74	7.43	9.11
Normalized Net Income Margin	1.44	4.29	3.81	4.81	6.64
Levered Free Cash Flow Margin	2.71	2.45	-7.75	-3.52	-11.85
Unlevered Free Cash Flow Margin	9.26	9.18	-1.38	1.95	-5.25
Asset Turnover
Asset Turnover