Pay vs Performance Disclosure - USD ($) | 12 Months Ended |
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pay vs Performance Disclosure | | | | |
Pay vs Performance Disclosure, Table | Pay Versus Performance Table The following table provides information required under the SEC’s Item 402(v) of Regulation S-K Year Summary ($) (b) (1) Summary ($) (b) (1) Summary ($) (b) (1) Compensation First PEO ($) (c) (2) Compensation ($) (c) (2) Compensation ($) (c) (2) 2023 10,689,792 — — 8,837,673 — — 2022 4,849,985 2,999,632 — 4,540,112 2,999,632 — 2021 — 12,557,063 — — 4,844,563 — 2020 — 1,779,329 1,225,293 — 1,779,329 1,018,238 Year Average Non-PEO NEOs (d) (3) Average Non-PEO NEOs (e) (4) Value of Initial Fixed $100 Investment Net Income ($ in millions) (7) Adjusted Net ($ in millions) (8) Total ($) (f) (5) Peer Group Total ($) (g) (6) 2023 2,501,704 1,949,564 74 112 786 808 2022 1,175,774 919,586 94 120 881 901 2021 3,035,233 2,751,903 105 118 707 780 2020 2,153,217 1,401,321 92 100 581 625 (1) The dollar amounts reported in column (b) are the amounts of total compensation reported for Pedro Azagra Blázquez (First PEO) in 2022 and 2023, who has served as our Chief Executive Officer since May 2022, Dennis Arriola (Second PEO) for 2020, 2021, and 2022, who served as our Chief Executive Officer from July 2020 through May 2022, and James Torgerson (Third PEO), who served as our Chief Executive Officer through June 2020, for each corresponding year in the “Total” column of the “ Summary Compensation Table Summary Compensation Table.” (2) The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Pedro Azagra Blázquez (First PEO), Dennis Arriola (Second PEO), and James Torgerson (Third PEO) for the corresponding fiscal year, as computed in accordance with Item 402(v) of Regulation S-K Summary Compensation Table (3) The dollar amounts reported in column (d) represent the average of the amounts reported for the non-PEO non-PEO (4) The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the non-PEO S-K. non-PEO S-K, non-PEO “Non-PEO (5) Total shareholder return (“TSR”) is the value of $100 at the end of the measurement period assuming invested in Avangrid’s stock as of the beginning of the measurement period, including dividend reinvestment during this time period. On May 18, 2021, Avangrid issued 77,821,012 shares of Avangrid Common Stock in two private placements, which impacted Avangrid’s TSR during the measurement period. For additional information about these equity issuances, please refer to the section titled “ Certain Relationships and Related Party Transactions . (6) Peer group TSR, is the value of $100 at the end of the measurement period assuming invested in the peer group index as of the beginning of the measurement period, including dividend reinvestment during this time period. The peer group used for this purpose is the following published industry index: S&P 500 Utilities Index. (7) The dollar amounts reported in column (h) represent our net income, as reflected in Avangrid’s audited financial statements for the applicable year. (8) The dollar amounts reported in column (i) represent our adjusted net income, as reflected in Avangrid’s audited financial statements for the applicable year. While the Company uses several financial performance measures for the purpose of evaluating performance for the Company’s compensation programs, the Company has determined that adjusted net income is the financial performance measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the Company to link compensation actually paid to the NEOs, for the most recently completed fiscal year, to the Company’s performance. See Annex D for a discussion of adjusted net income as well as a reconciliation of adjusted net income to net income prepared in accordance with GAAP. (9) In addition to adjusted net income, Avangrid also considers the following to be the most important measures for determining NEO pay: net income, total shareholder return, sustainability projects, customer reliability and standards, net operating expenses, FFO/net debt, and PNM merger. In accordance with the requirements of Item 402(v) of Regulation S-K, Year Reported Summary Total for First PEO ($) Reported Value of Equity ($) (a) Equity Award ($) (b) Reported Change in ($) (c) Pension (d) Compensation First PEO ($) 2023 10,689,792 (7,322,440 ) 5,470,321 0 0 8,837,673 2022 4,849,985 (2,690,619 ) 2,380,745 — — 4,540,112 Year Reported Summary ($) Reported Value of Equity ($) (a) Equity Award ($) (b) Reported Change in (c) Pension (d) Compensation ($) 2022 2,999,632 (842,800 ) 842,800 — — 2,999,632 2021 12,557,063 (8,650,325 ) 937,825 — — 4,844,563 2020 1,779,329 — — — — 1,779,329 Year Reported Summary ($) Reported Value of Equity ($) (a) Equity Award ($) (b) Reported Change in ($) (c) Pension (d) Compensation Third PEO ($) 2020 1,225,293 — (207,055 ) — — 1,018,238 (a) The fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year. For additional information, refer to the section titled “Summary Compensation Table.” (b) The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end (c) and (d) We have never provided pension benefits to our PEOs; therefore, no adjustments to the “Summary Compensation Table” total for changes in pension values are necessary. First PEO Year Year-End Fair Year-over- ($) Fair Value as ($) Year-over- ($) Prior Year- End Fair Value ($) Value of Total Equity Award Adjustments 2023 5,840,886 (346,052 ) (24,513 ) — — — 5,470,321 2022 2,380,745 — — — — — 2,380,745 Second PEO Year Year-End Fair ($) Year-over-Year ($) Fair Value as ($) Year-over-Year ($) Prior Year-End ($) Value of Total Equity Award Adjustments 2022 — — 842,800 — — — 842,800 2021 — — 937,825 — — — 937,825 2020 — — — — — — — Third PEO Year Year-End Fair ($) Year-over-Year ($) Fair Value as of ($) Year-over-Year ($) Prior Year-End ($) Value of Total Equity Award Adjustments 2020 — (97,163 ) — (109,892 ) — — (207,055 ) Year Average Reported Summary Non-PEO ($) Average Value of ($) Average Equity Award Adjustments ($) (a) Reported ($) (b) Pension (c) Average Non-PEO ($) 2023 2,501,704 (1,385,038 ) 895,687 (62,790 ) 0 1,949,564 2022 1,175,774 (55,971 ) (223,644 ) 0 23,427 919,586 2021 3,035,233 (1,950,600 ) 1,693,131 (76,585 ) 50,724 2,751,903 2020 2,153,217 (663,910 ) 476,131 (608,155 ) 44,038 1,401,321 (a) Represents the amounts deducted or added in calculating the total average equity award adjustments as shown in the supplemental table included below. (b) The reported change in the actuarial present value of pension benefits reported in the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” column in the Summary Compensation Table for the applicable year. Refer to the section titled “Summary Compensation Table.” (c) The pension benefit adjustment is the pension value attributable to the applicable year’s change in service cost. These values were calculated and provided by Avangrid’s current actuary. Year Average Year- End Fair Value ($) Average Year- ($) Average Fair ($) Average Year- ($) Average Prior Year-End ($) Average Value Average Equity Award Adjustments 2023 1,067,207 (139,779 ) (31,741 ) — — — 895,687 2022 45,570 (186,426 ) 5,476 (9,728 ) (78,535 ) — (223,644 ) 2021 1,664,989 23,296 — 4,845 — — 1,693,131 2020 319,943 (15,162 ) 189,381 (18,031 ) — — 476,131 | | | |
Company Selected Measure Name | Adjusted Net Income | | | |
Named Executive Officers, Footnote | the non-PEO non-PEO | | | |
Peer Group Issuers, Footnote | Peer group TSR, is the value of $100 at the end of the measurement period assuming invested in the peer group index as of the beginning of the measurement period, including dividend reinvestment during this time period. The peer group used for this purpose is the following published industry index: S&P 500 Utilities Index. | | | |
Adjustment To PEO Compensation, Footnote | In accordance with the requirements of Item 402(v) of Regulation S-K, Year Reported Summary Total for First PEO ($) Reported Value of Equity ($) (a) Equity Award ($) (b) Reported Change in ($) (c) Pension (d) Compensation First PEO ($) 2023 10,689,792 (7,322,440 ) 5,470,321 0 0 8,837,673 2022 4,849,985 (2,690,619 ) 2,380,745 — — 4,540,112 Year Reported Summary ($) Reported Value of Equity ($) (a) Equity Award ($) (b) Reported Change in (c) Pension (d) Compensation ($) 2022 2,999,632 (842,800 ) 842,800 — — 2,999,632 2021 12,557,063 (8,650,325 ) 937,825 — — 4,844,563 2020 1,779,329 — — — — 1,779,329 Year Reported Summary ($) Reported Value of Equity ($) (a) Equity Award ($) (b) Reported Change in ($) (c) Pension (d) Compensation Third PEO ($) 2020 1,225,293 — (207,055 ) — — 1,018,238 (a) The fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year. For additional information, refer to the section titled “Summary Compensation Table.” (b) The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end (c) and (d) We have never provided pension benefits to our PEOs; therefore, no adjustments to the “Summary Compensation Table” total for changes in pension values are necessary. First PEO Year Year-End Fair Year-over- ($) Fair Value as ($) Year-over- ($) Prior Year- End Fair Value ($) Value of Total Equity Award Adjustments 2023 5,840,886 (346,052 ) (24,513 ) — — — 5,470,321 2022 2,380,745 — — — — — 2,380,745 Second PEO Year Year-End Fair ($) Year-over-Year ($) Fair Value as ($) Year-over-Year ($) Prior Year-End ($) Value of Total Equity Award Adjustments 2022 — — 842,800 — — — 842,800 2021 — — 937,825 — — — 937,825 2020 — — — — — — — Third PEO Year Year-End Fair ($) Year-over-Year ($) Fair Value as of ($) Year-over-Year ($) Prior Year-End ($) Value of Total Equity Award Adjustments 2020 — (97,163 ) — (109,892 ) — — (207,055 ) | | | |
Non-PEO NEO Average Total Compensation Amount | $ 2,501,704 | $ 1,175,774 | $ 3,035,233 | $ 2,153,217 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 1,949,564 | 919,586 | 2,751,903 | 1,401,321 |
Adjustment to Non-PEO NEO Compensation Footnote | Year Average Reported Summary Non-PEO ($) Average Value of ($) Average Equity Award Adjustments ($) (a) Reported ($) (b) Pension (c) Average Non-PEO ($) 2023 2,501,704 (1,385,038 ) 895,687 (62,790 ) 0 1,949,564 2022 1,175,774 (55,971 ) (223,644 ) 0 23,427 919,586 2021 3,035,233 (1,950,600 ) 1,693,131 (76,585 ) 50,724 2,751,903 2020 2,153,217 (663,910 ) 476,131 (608,155 ) 44,038 1,401,321 (a) Represents the amounts deducted or added in calculating the total average equity award adjustments as shown in the supplemental table included below. (b) The reported change in the actuarial present value of pension benefits reported in the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” column in the Summary Compensation Table for the applicable year. Refer to the section titled “Summary Compensation Table.” (c) The pension benefit adjustment is the pension value attributable to the applicable year’s change in service cost. These values were calculated and provided by Avangrid’s current actuary. Year Average Year- End Fair Value ($) Average Year- ($) Average Fair ($) Average Year- ($) Average Prior Year-End ($) Average Value Average Equity Award Adjustments 2023 1,067,207 (139,779 ) (31,741 ) — — — 895,687 2022 45,570 (186,426 ) 5,476 (9,728 ) (78,535 ) — (223,644 ) 2021 1,664,989 23,296 — 4,845 — — 1,693,131 2020 319,943 (15,162 ) 189,381 (18,031 ) — — 476,131 | | | |
Compensation Actually Paid vs. Total Shareholder Return | Compensation Actually Paid and Total Shareholder Return (TSR) As demonstrated by the following graph, the longer-term trend shows correlation in the amount of compensation actually paid to Pedro Azagra Blázquez (First PEO), Dennis Arriola (Second PEO) and James Torgerson (Third PEO) and the average amount of compensation actually paid to the non-PEO Executive Compensation Compensation Discussion and Analysis. | | | |
Compensation Actually Paid vs. Net Income | Compensation Actual Paid and Net Income As demonstrated by the following graph, the longer-term trend shows correlation in the amount of compensation actually paid to Pedro Azagra Blázquez (First PEO), Dennis Arriola (Second PEO), and James Torgerson (Third PEO) and the average amount of compensation actually paid to the non-PEO | | | |
Compensation Actually Paid vs. Company Selected Measure | Compensation Actually Paid and Net Adjusted Income As demonstrated by the following graph, the longer-term trend shows correlation in the amount of compensation actually paid to Pedro Azagra Blázquez (First PEO), Dennis Arriola (Second PEO), and James Torgerson (Third PEO), and the average amount of compensation actually paid to the non-PEO | | | |
Total Shareholder Return Vs Peer Group | Compensation Actually Paid and Total Shareholder Return (TSR) As demonstrated by the following graph, the longer-term trend shows correlation in the amount of compensation actually paid to Pedro Azagra Blázquez (First PEO), Dennis Arriola (Second PEO) and James Torgerson (Third PEO) and the average amount of compensation actually paid to the non-PEO Executive Compensation Compensation Discussion and Analysis. | | | |
Tabular List, Table | Tabular List of Most Important Financial Performance Measures The financial performance measures that we believe are the most important financial performance measures used to link NEO compensation to company performance in addition to adjusted net income. For more information, refer to the section titled “ Executive Compensation Compensation Discussion and Analysis. S-K Executive Compensation Compensation Discussion and Analysis. 3 to 7 Most Important Measures for Determining NEO Pay Measure 1 Net Income Measure 2 Total Shareholder Return Measure 3 Sustainability Projects Measure 4 Customer Reliability and Standards Measure 5 Net Operating Expenses Measure 6 FFO/Net Debt Measure 7 PNM Merger | | | |
Total Shareholder Return Amount | $ 74 | 94 | 105 | 92 |
Peer Group Total Shareholder Return Amount | 112 | 120 | 118 | 100 |
Net Income (Loss) | $ 786,000,000 | $ 881,000,000 | $ 707,000,000 | $ 581,000,000 |
Company Selected Measure Amount | 808,000,000 | 901,000,000 | 780,000,000 | 625,000,000 |
Measure:: 1 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Net Income | | | |
Measure:: 2 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Total Shareholder Return | | | |
Measure:: 3 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Sustainability Projects | | | |
Measure:: 4 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Customer Reliability and Standards | | | |
Measure:: 5 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Net Operating Expenses | | | |
Measure:: 6 | | | | |
Pay vs Performance Disclosure | | | | |
Name | FFO/Net Debt | | | |
Measure:: 7 | | | | |
Pay vs Performance Disclosure | | | | |
Name | PNM Merger | | | |
First PEO [Member] | | | | |
Pay vs Performance Disclosure | | | | |
PEO Total Compensation Amount | $ 10,689,792 | $ 4,849,985 | | |
PEO Actually Paid Compensation Amount | $ 8,837,673 | $ 4,540,112 | | |
PEO Name | Pedro Azagra Blázquez | Pedro Azagra Blázquez | | |
Second PEO [Member] | | | | |
Pay vs Performance Disclosure | | | | |
PEO Total Compensation Amount | | $ 2,999,632 | $ 12,557,063 | $ 1,779,329 |
PEO Actually Paid Compensation Amount | | $ 2,999,632 | $ 4,844,563 | $ 1,779,329 |
PEO Name | | Dennis Arriola | Dennis Arriola | Dennis Arriola |
Third PEO [Member] | | | | |
Pay vs Performance Disclosure | | | | |
PEO Total Compensation Amount | | | | $ 1,225,293 |
PEO Actually Paid Compensation Amount | | | | $ 1,018,238 |
PEO Name | | | | James Torgerson |
PEO | First PEO [Member] | Reported Value of Equity Awards [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ (7,322,440) | $ (2,690,619) | | |
PEO | First PEO [Member] | Equity Award Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 5,470,321 | 2,380,745 | | |
PEO | First PEO [Member] | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | | | |
PEO | First PEO [Member] | Pension Benefit Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | | | |
PEO | First PEO [Member] | YearEnd Fair Value of Equity Awards Granted in the Year and that are Unvested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 5,840,886 | 2,380,745 | | |
PEO | First PEO [Member] | Yearover Year Change in Fair Value of Equity Awards Granted in Prior Years that are Unvested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (346,052) | | | |
PEO | First PEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (24,513) | | | |
PEO | Second PEO [Member] | Reported Value of Equity Awards [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | (842,800) | $ (8,650,325) | |
PEO | Second PEO [Member] | Equity Award Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | 842,800 | 937,825 | |
PEO | Second PEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | 842,800 | 937,825 | |
PEO | Third PEO [Member] | Equity Award Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | | | $ (207,055) |
PEO | Third PEO [Member] | Yearover Year Change in Fair Value of Equity Awards Granted in Prior Years that are Unvested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | | | (97,163) |
PEO | Third PEO [Member] | Yearover Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | | | (109,892) |
Non-PEO NEO | Reported Value of Equity Awards [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (1,385,038) | (55,971) | (1,950,600) | (663,910) |
Non-PEO NEO | Equity Award Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 895,687 | (223,644) | 1,693,131 | 476,131 |
Non-PEO NEO | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (62,790) | 0 | (76,585) | (608,155) |
Non-PEO NEO | Pension Benefit Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | 23,427 | 50,724 | 44,038 |
Non-PEO NEO | YearEnd Fair Value of Equity Awards Granted in the Year and that are Unvested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 1,067,207 | 45,570 | 1,664,989 | 319,943 |
Non-PEO NEO | Yearover Year Change in Fair Value of Equity Awards Granted in Prior Years that are Unvested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (139,779) | (186,426) | 23,296 | (15,162) |
Non-PEO NEO | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ (31,741) | 5,476 | | 189,381 |
Non-PEO NEO | Yearover Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | (9,728) | $ 4,845 | $ (18,031) |
Non-PEO NEO | Prior Year End Fair Value of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | $ (78,535) | | |