To estimate the S&P-adjusted FFO-to-debt ratio for Iberdrola S.A. for the fiscal year ended December 31, 2022, we follow the prescribed workflow:

### 1. Identify Industry
Iberdrola is a major multinational electric utility, primarily involved in electricity generation, distribution, and retail supply. It qualifies as a **Regulated Utility** according to the S&P methodology provided.

### 2. Estimate Adjusted_EBITDA
*   **Reported EBITDA (Beneficio Bruto De Explotacion Ebitda):** 13,228,000,000 EUR
*   **Adjustments:** We need to consider lease adjustments. While the provided data includes "Rightofuse Assets" (2,260,000,000 EUR) and "Lease Liabilities" (Noncurrent: 2,253,000,000 EUR, Current: 158,000,000 EUR), standard practice for utilities often includes adding back operating lease interest to EBITDA if they were previously treated as rent expense under old standards; however, under IFRS 16 (which IBERDROLA follows), rent expense is already replaced by depreciation and interest. Following standard S&P adjustments for utilities, we use the reported EBITDA as a baseline as no significant non-recurring items were explicitly separated.
*   **Adjusted_EBITDA:** 13,228,000,000 EUR

### 3. Estimate FFO
*   **FFO = Adjusted_EBITDA - Cash Interest - Cash Taxes**
*   **Cash Interest:** The data provides "Finance Costs" (3,042,000,000 EUR), but we must identify the cash portion. The cash flow statement shows "Intereses Pagados Excluidos Intereses Capitalizados De Deudas Con Entidades De Credito YObligaciones UOtros Valores Negociables" as 1,495,000,000 EUR and "Intereses Pagados Excluidos Intereses Capitalizados De Pasivos Financieros Por Arrendamiento" as 61,000,000 EUR. Total Cash Interest = 1,495,000,000 + 61,000,000 = 1,556,000,000 EUR.
*   **Cash Taxes:** "Income Taxes Paid Classified As Operating Activities" = 1,055,000,000 EUR.
*   **FFO:** 13,228,000,000 - 1,556,000,000 - 1,055,000,000 = 10,617,000,000 EUR.

### 4. Estimate Adjusted_Debt
*   **Reported Debt (Financial Liabilities):**
    *   Noncurrent Financial Liabilities: 37,175,000,000 EUR
    *   Current Financial Liabilities: 21,297,000,000 EUR
    *   Total: 58,472,000,000 EUR
*   **Leases (Noncurrent + Current):** 2,253,000,000 + 158,000,000 = 2,411,000,000 EUR
*   **Cash and Cash Equivalents (Eligible Cash):** 4,033,000,000 EUR
*   **Adjusted_Debt:** (58,472,000,000 + 2,411,000,000) - 4,033,000,000 = 56,850,000,000 EUR.

### 5. Calculate FFO / Adjusted_Debt Ratio
*   **Ratio:** 10,617,000,000 / 56,850,000,000 = 0.1867546

Rounding to four decimal places: 0.1868.

<answer>0.1868</answer>