DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - Jun. 30, 2015 - USD ($) | Total |
Document And Entity [Line Items] | |
Entity Registrant Name | Eversource Energy |
Document Period End Date | Jun. 30, 2015 |
Document Type | 10-Q |
Entity Central Index Key | 72,741 |
Current Fiscal Year End Date | --12-31 |
Entity Common Stock, Shares Outstanding | 317,173,164 |
Entity Public Float | $ 14,947,688,864 |
Entity Filer Category | Large Accelerated Filer |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | Yes |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | Q2 |
Amendment Flag | false |
The Connecticut Light And Power Company [Member] | |
Document And Entity [Line Items] | |
Entity Registrant Name | The Connecticut Light and Power Company |
Entity Central Index Key | 23,426 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Non-accelerated Filer |
Public Service Company Of New Hampshire [Member] | |
Document And Entity [Line Items] | |
Entity Registrant Name | Public Service Company of New Hampshire |
Entity Central Index Key | 315,256 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Non-accelerated Filer |
Western Massachusetts Electric Company [Member] | |
Document And Entity [Line Items] | |
Entity Registrant Name | Western Massachusetts Electric Company |
Entity Central Index Key | 106,170 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Non-accelerated Filer |
NSTAR Electric Company [Member] | |
Document And Entity [Line Items] | |
Entity Registrant Name | NSTAR Electric Company |
Entity Central Index Key | 13,372 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Non-accelerated Filer |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Current Assets: | ||
Cash | $ 36,469 | $ 38,703 |
Receivables, Net | 903,578 | 856,346 |
Unbilled Revenues | 205,155 | 211,758 |
Taxes Receivable | 117,792 | 337,307 |
Fuel, Materials and Supplies | 289,561 | 349,664 |
Regulatory Assets Current | 709,660 | 672,493 |
Marketable Securities - Current | 124,830 | 124,173 |
Prepayments and Other Current Assets | 62,884 | 102,021 |
Total Current Assets | 2,449,929 | 2,692,465 |
Property, Plant and Equipment, Net | 19,079,189 | 18,647,041 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 4,016,684 | 4,054,086 |
Goodwill | 3,519,401 | 3,519,401 |
Marketable Securities | 497,919 | 515,025 |
Other Long-Term Assets | 316,817 | 349,957 |
Total Deferred Debits and Other Assets | 8,350,821 | 8,438,469 |
Total Assets | 29,879,939 | 29,777,975 |
Current Liabilities: | ||
Notes Payable | 953,700 | 956,825 |
Long-Term Debt - Current Portion | 278,883 | 245,583 |
Accounts Payable - Current | 598,716 | 868,231 |
Regulatory Liability Current | 208,510 | 235,022 |
Deferred Tax Liabilities Current | 203,375 | 160,288 |
Other Liabilities - Current | 595,801 | 668,432 |
Total Current Liabilities | 2,838,985 | 3,134,381 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 4,606,159 | 4,467,473 |
Regulatory Liabilities Long-Term | 510,807 | 515,144 |
Long-Term Derivative Liabilities | 380,966 | 409,632 |
Accrued Pension, SERP and PBOP | 1,636,769 | 1,638,558 |
Other Long-Term Liabilities | 875,985 | 874,387 |
Total Deferred Credits and Other Liabilities | 8,010,686 | 7,905,194 |
Capitalization: | ||
Long-Term Debt | 8,689,647 | 8,606,017 |
Noncontrolling Interest in Consolidated Subsidiary: | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 155,568 | 155,568 |
Common Shareholders' Equity: | ||
Common Stock | 1,669,167 | 1,666,796 |
Capital Surplus, Paid In | 6,253,411 | 6,235,834 |
Retained Earnings | 2,644,485 | 2,448,661 |
Accumulated Other Comprehensive Loss | (72,033) | (74,009) |
Treasury Stock | (309,977) | (300,467) |
Common Shareholders' Equity | 10,185,053 | 9,976,815 |
Total Capitalization | 19,030,268 | 18,738,400 |
Total Liabilities and Capitalization | 29,879,939 | 29,777,975 |
The Connecticut Light And Power Company [Member] | ||
Current Assets: | ||
Cash | 9,227 | 2,356 |
Receivables, Net | 395,863 | 355,140 |
Accounts Receivable from Affiliated Companies | 22,981 | 16,757 |
Unbilled Revenues | 103,767 | 102,137 |
Taxes Receivable | 0 | 116,148 |
Regulatory Assets Current | 263,713 | 220,344 |
Materials and Supplies | 50,357 | 46,664 |
Prepayments and Other Current Assets | 15,043 | 37,822 |
Total Current Assets | 860,951 | 897,368 |
Property, Plant and Equipment, Net | 6,934,618 | 6,809,664 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 1,461,483 | 1,475,508 |
Other Long-Term Assets | 146,299 | 177,568 |
Total Deferred Debits and Other Assets | 1,607,782 | 1,653,076 |
Total Assets | 9,403,351 | 9,360,108 |
Current Liabilities: | ||
Notes Payable To Affiliated Companies | 85,600 | 133,400 |
Long-Term Debt - Current Portion | 0 | 162,000 |
Accounts Payable - Current | 208,860 | 272,971 |
Accounts Payable to Affiliated Companies | 58,227 | 65,594 |
Obligations to Third Party Suppliers | 67,844 | 73,624 |
Regulatory Liability Current | 122,617 | 124,722 |
Deferred Tax Liabilities Current | 46,811 | 34,073 |
Derivative Liabilities - Current | 90,933 | 88,459 |
Other Liabilities - Current | 97,062 | 119,347 |
Total Current Liabilities | 777,954 | 1,074,190 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 1,666,607 | 1,642,805 |
Regulatory Liabilities Long-Term | 71,245 | 81,298 |
Long-Term Derivative Liabilities | 380,196 | 406,199 |
Accrued Pension, SERP and PBOP | 286,131 | 273,854 |
Other Long-Term Liabilities | 144,983 | 148,844 |
Total Deferred Credits and Other Liabilities | 2,549,162 | 2,553,000 |
Capitalization: | ||
Long-Term Debt | 2,975,091 | 2,679,951 |
Noncontrolling Interest in Consolidated Subsidiary: | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 116,200 | 116,200 |
Common Shareholders' Equity: | ||
Common Stock | 60,352 | 60,352 |
Capital Surplus, Paid In | 1,805,638 | 1,804,869 |
Retained Earnings | 1,119,702 | 1,072,477 |
Accumulated Other Comprehensive Loss | (748) | (931) |
Common Shareholders' Equity | 2,984,944 | 2,936,767 |
Total Capitalization | 6,076,235 | 5,732,918 |
Total Liabilities and Capitalization | 9,403,351 | 9,360,108 |
NSTAR Electric Company [Member] | ||
Current Assets: | ||
Cash | 2,848 | 12,773 |
Receivables, Net | 288,581 | 234,481 |
Accounts Receivable from Affiliated Companies | 50,582 | 40,353 |
Unbilled Revenues | 41,294 | 29,741 |
Taxes Receivable | 43,940 | 144,601 |
Fuel, Materials and Supplies | 56,584 | 74,179 |
Regulatory Assets Current | 258,489 | 198,710 |
Prepayments and Other Current Assets | 3,870 | 10,815 |
Total Current Assets | 746,188 | 745,653 |
Property, Plant and Equipment, Net | 5,451,668 | 5,335,436 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 1,198,167 | 1,179,100 |
Other Long-Term Assets | 58,936 | 73,051 |
Total Deferred Debits and Other Assets | 1,257,103 | 1,252,151 |
Total Assets | 7,454,959 | 7,333,240 |
Current Liabilities: | ||
Notes Payable | 377,200 | 302,000 |
Long-Term Debt - Current Portion | 200,000 | 4,700 |
Accounts Payable - Current | 173,863 | 217,311 |
Accounts Payable to Affiliated Companies | 71,066 | 63,517 |
Renewable Portfolio Standards Compliance Obligation | 61,200 | 35,698 |
Regulatory Liability Current | 5,007 | 49,611 |
Deferred Tax Liabilities Current | 107,995 | 55,136 |
Other Liabilities - Current | 86,718 | 115,991 |
Total Current Liabilities | 1,140,118 | 878,788 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 1,538,988 | 1,527,667 |
Regulatory Liabilities Long-Term | 266,572 | 262,738 |
Accrued Pension, SERP and PBOP | 220,000 | 235,529 |
Other Long-Term Liabilities | 123,421 | 129,279 |
Total Deferred Credits and Other Liabilities | 2,148,981 | 2,155,213 |
Capitalization: | ||
Long-Term Debt | 1,592,722 | 1,792,712 |
Noncontrolling Interest in Consolidated Subsidiary: | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 43,000 | 43,000 |
Common Shareholders' Equity: | ||
Common Stock | 0 | 0 |
Capital Surplus, Paid In | 995,378 | 994,130 |
Retained Earnings | 1,534,500 | 1,468,955 |
Accumulated Other Comprehensive Loss | 260 | 442 |
Common Shareholders' Equity | 2,530,138 | 2,463,527 |
Total Capitalization | 4,165,860 | 4,299,239 |
Total Liabilities and Capitalization | 7,454,959 | 7,333,240 |
Public Service Company Of New Hampshire [Member] | ||
Current Assets: | ||
Cash | 818 | 489 |
Receivables, Net | 84,607 | 80,151 |
Accounts Receivable from Affiliated Companies | 4,290 | 3,194 |
Unbilled Revenues | 36,472 | 40,181 |
Taxes Receivable | 34,985 | 14,571 |
Fuel, Materials and Supplies | 137,119 | 148,139 |
Regulatory Assets Current | 88,773 | 111,705 |
Prepayments and Other Current Assets | 23,538 | 27,821 |
Total Current Assets | 410,602 | 426,251 |
Property, Plant and Equipment, Net | 2,714,915 | 2,635,844 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 282,215 | 293,115 |
Other Long-Term Assets | 34,083 | 39,228 |
Total Deferred Debits and Other Assets | 316,298 | 332,343 |
Total Assets | 3,441,815 | 3,394,438 |
Current Liabilities: | ||
Notes Payable To Affiliated Companies | 133,500 | 90,500 |
Accounts Payable - Current | 69,884 | 93,349 |
Accounts Payable to Affiliated Companies | 22,201 | 33,734 |
Regulatory Liability Current | 5,602 | 16,044 |
Deferred Tax Liabilities Current | 35,963 | 36,164 |
Other Liabilities - Current | 30,605 | 38,969 |
Total Current Liabilities | 297,755 | 308,760 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 632,890 | 587,292 |
Regulatory Liabilities Long-Term | 50,250 | 51,372 |
Accrued Pension, SERP and PBOP | 99,318 | 93,243 |
Other Long-Term Liabilities | 50,054 | 50,155 |
Total Deferred Credits and Other Liabilities | 832,512 | 782,062 |
Capitalization: | ||
Long-Term Debt | 1,076,319 | 1,076,286 |
Common Shareholders' Equity: | ||
Common Stock | 0 | 0 |
Capital Surplus, Paid In | 748,635 | 748,240 |
Retained Earnings | 493,449 | 486,459 |
Accumulated Other Comprehensive Loss | (6,855) | (7,369) |
Common Shareholders' Equity | 1,235,229 | 1,227,330 |
Total Capitalization | 2,311,548 | 2,303,616 |
Total Liabilities and Capitalization | 3,441,815 | 3,394,438 |
Western Massachusetts Electric Company [Member] | ||
Current Assets: | ||
Cash | 1,143 | 0 |
Receivables, Net | 61,491 | 51,066 |
Accounts Receivable from Affiliated Companies | 5,507 | 7,851 |
Unbilled Revenues | 15,912 | 15,146 |
Taxes Receivable | 1,148 | 18,126 |
Regulatory Assets Current | 54,926 | 51,923 |
Marketable Securities - Current | 38,441 | 28,658 |
Prepayments and Other Current Assets | 5,496 | 7,607 |
Total Current Assets | 184,064 | 180,377 |
Property, Plant and Equipment, Net | 1,508,207 | 1,461,321 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 138,138 | 146,307 |
Marketable Securities | 19,809 | 29,452 |
Other Long-Term Assets | 27,147 | 22,018 |
Total Deferred Debits and Other Assets | 185,094 | 197,777 |
Total Assets | 1,877,365 | 1,839,475 |
Current Liabilities: | ||
Notes Payable To Affiliated Companies | 60,600 | 21,400 |
Long-Term Debt - Current Portion | 50,000 | 50,000 |
Accounts Payable - Current | 36,327 | 53,732 |
Accounts Payable to Affiliated Companies | 10,217 | 14,328 |
Regulatory Liability Current | 16,847 | 22,486 |
Deferred Tax Liabilities Current | 20,822 | 18,089 |
Other Liabilities - Current | 24,608 | 24,080 |
Total Current Liabilities | 219,421 | 204,115 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 422,502 | 416,822 |
Regulatory Liabilities Long-Term | 12,921 | 10,835 |
Accrued Pension, SERP and PBOP | 19,530 | 17,705 |
Other Long-Term Liabilities | 38,065 | 33,747 |
Total Deferred Credits and Other Liabilities | 493,018 | 479,109 |
Capitalization: | ||
Long-Term Debt | 578,007 | 578,471 |
Common Shareholders' Equity: | ||
Common Stock | 10,866 | 10,866 |
Capital Surplus, Paid In | 391,398 | 391,256 |
Retained Earnings | 187,673 | 178,834 |
Accumulated Other Comprehensive Loss | (3,018) | (3,176) |
Common Shareholders' Equity | 586,919 | 577,780 |
Total Capitalization | 1,164,926 | 1,156,251 |
Total Liabilities and Capitalization | $ 1,877,365 | $ 1,839,475 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Operating Revenues | $ 1,817,061 | $ 1,677,614 | $ 4,330,491 | $ 3,968,204 |
Operating Expenses: | ||||
Purchased Power and Transmission | 685,118 | 624,211 | 1,847,167 | 1,602,362 |
Operations and Maintenance | 316,641 | 373,234 | 650,024 | 724,922 |
Depreciation | 163,668 | 152,207 | 327,505 | 303,014 |
Amortization of Regulatory Assets/(Liabilities), Net | (1,166) | (3,542) | 59,438 | 54,356 |
Energy Efficiency Programs | 101,850 | 102,711 | 248,452 | 241,536 |
Taxes Other Than Income Taxes | 138,935 | 134,803 | 288,415 | 280,335 |
Total Operating Expenses | 1,405,046 | 1,383,624 | 3,421,001 | 3,206,525 |
Operating Income | 412,015 | 293,990 | 909,490 | 761,679 |
Interest Expense: | ||||
Interest on Long-Term Debt | 88,021 | 87,491 | 175,735 | 174,868 |
Other Interest | 4,238 | 5,004 | 11,367 | 7,603 |
Total Interest Expense | 92,259 | 92,495 | 187,102 | 182,471 |
Other Income/(Loss), Net | 12,899 | 5,526 | 18,626 | 7,194 |
Income Before Income Tax Expense | 332,655 | 207,021 | 741,014 | 586,402 |
Income Tax Expense | 123,268 | 77,774 | 276,494 | 219,319 |
Net Income | 209,387 | 129,247 | 464,520 | 367,083 |
Net Income Attributable to Noncontrolling Interests | 1,880 | 1,880 | 3,759 | 3,759 |
Net Income Attributable to Controlling Interests | $ 207,507 | $ 127,367 | $ 460,761 | $ 363,324 |
Earnings Per Share Basic And Diluted | $ 0.65 | $ 0.40 | $ 1.45 | $ 1.15 |
Common Stock Dividends Per Share Declared | $ 0.42 | $ 0.39 | $ 0.84 | $ 0.79 |
Weighted Average Common Shares Outstanding: | ||||
Basic | 317,613,166 | 315,950,510 | 317,352,004 | 315,742,511 |
Diluted | 318,559,568 | 317,112,801 | 318,525,378 | 317,002,461 |
The Connecticut Light And Power Company [Member] | ||||
Operating Revenues | $ 666,554 | $ 587,324 | $ 1,471,471 | $ 1,321,938 |
Operating Expenses: | ||||
Purchased Power and Transmission | 253,180 | 199,785 | 586,799 | 481,165 |
Operations and Maintenance | 118,687 | 131,762 | 236,044 | 241,276 |
Depreciation | 52,191 | 46,581 | 105,094 | 92,712 |
Amortization of Regulatory Assets/(Liabilities), Net | (7,530) | 19,615 | 40,776 | 49,546 |
Energy Efficiency Programs | 33,963 | 35,296 | 76,770 | 77,991 |
Taxes Other Than Income Taxes | 62,102 | 62,159 | 130,181 | 129,111 |
Total Operating Expenses | 512,593 | 495,198 | 1,175,664 | 1,071,801 |
Operating Income | 153,961 | 92,126 | 295,807 | 250,137 |
Interest Expense: | ||||
Interest on Long-Term Debt | 33,423 | 34,639 | 66,904 | 67,548 |
Other Interest | 2,701 | 2,831 | 5,844 | 4,165 |
Total Interest Expense | 36,124 | 37,470 | 72,748 | 71,713 |
Other Income/(Loss), Net | 4,062 | 3,130 | 6,221 | 4,202 |
Income Before Income Tax Expense | 121,899 | 57,786 | 229,280 | 182,626 |
Income Tax Expense | 43,129 | 20,401 | 81,276 | 65,942 |
Net Income | 78,770 | 37,385 | 148,004 | 116,684 |
NSTAR Electric Company [Member] | ||||
Operating Revenues | 617,196 | 561,513 | 1,384,004 | 1,227,701 |
Operating Expenses: | ||||
Purchased Power and Transmission | 283,129 | 242,907 | 684,995 | 561,989 |
Operations and Maintenance | 69,430 | 78,981 | 145,254 | 164,905 |
Depreciation | 48,949 | 46,915 | 97,716 | 93,540 |
Amortization of Regulatory Assets/(Liabilities), Net | (7,336) | (1,517) | (12,901) | 14,147 |
Energy Efficiency Programs | 41,733 | 40,255 | 97,150 | 88,584 |
Taxes Other Than Income Taxes | 29,876 | 32,458 | 60,841 | 64,610 |
Total Operating Expenses | 465,781 | 439,999 | 1,073,055 | 987,775 |
Operating Income | 151,415 | 121,514 | 310,949 | 239,926 |
Interest Expense: | ||||
Interest on Long-Term Debt | 18,579 | 19,732 | 37,225 | 40,489 |
Other Interest | (798) | 960 | 1,002 | 1,263 |
Total Interest Expense | 17,781 | 20,692 | 38,227 | 41,752 |
Other Income/(Loss), Net | 2,533 | (246) | 3,136 | (277) |
Income Before Income Tax Expense | 136,167 | 100,576 | 275,858 | 197,897 |
Income Tax Expense | 54,204 | 40,447 | 110,335 | 79,681 |
Net Income | 81,963 | 60,129 | 165,523 | 118,216 |
Public Service Company Of New Hampshire [Member] | ||||
Operating Revenues | 241,875 | 211,626 | 526,722 | 511,458 |
Operating Expenses: | ||||
Purchased Power and Transmission | 47,938 | 68,349 | 147,516 | 183,595 |
Operations and Maintenance | 76,468 | 70,249 | 134,895 | 132,462 |
Depreciation | 25,751 | 24,464 | 51,397 | 48,679 |
Amortization of Regulatory Assets/(Liabilities), Net | 12,050 | (20,393) | 27,181 | (7,831) |
Energy Efficiency Programs | 3,356 | 3,292 | 7,128 | 7,131 |
Taxes Other Than Income Taxes | 22,249 | 16,635 | 41,331 | 34,348 |
Total Operating Expenses | 187,812 | 162,596 | 409,448 | 398,384 |
Operating Income | 54,063 | 49,030 | 117,274 | 113,074 |
Interest Expense: | ||||
Interest on Long-Term Debt | 11,359 | 11,390 | 22,758 | 22,916 |
Other Interest | 303 | (391) | 177 | 55 |
Total Interest Expense | 11,662 | 10,999 | 22,935 | 22,971 |
Other Income/(Loss), Net | 1,245 | 946 | 1,628 | 1,212 |
Income Before Income Tax Expense | 43,646 | 38,977 | 95,967 | 91,315 |
Income Tax Expense | 15,701 | 14,897 | 35,977 | 34,597 |
Net Income | 27,945 | 24,080 | 59,990 | 56,718 |
Western Massachusetts Electric Company [Member] | ||||
Operating Revenues | 125,194 | 108,289 | 278,058 | 245,698 |
Operating Expenses: | ||||
Purchased Power and Transmission | 43,055 | 37,619 | 112,716 | 87,050 |
Operations and Maintenance | 20,104 | 23,686 | 39,889 | 46,265 |
Depreciation | 10,848 | 10,317 | 21,223 | 20,638 |
Amortization of Regulatory Assets/(Liabilities), Net | 3,336 | 343 | 7,264 | 741 |
Energy Efficiency Programs | 9,519 | 10,249 | 20,594 | 22,114 |
Taxes Other Than Income Taxes | 9,398 | 8,396 | 18,833 | 16,479 |
Total Operating Expenses | 96,260 | 90,610 | 220,519 | 193,287 |
Operating Income | 28,934 | 17,679 | 57,539 | 52,411 |
Interest Expense: | ||||
Interest on Long-Term Debt | 6,015 | 6,104 | 12,060 | 12,165 |
Other Interest | 276 | 603 | 1,052 | 188 |
Total Interest Expense | 6,291 | 6,707 | 13,112 | 12,353 |
Other Income/(Loss), Net | 1,245 | 594 | 1,819 | 1,168 |
Income Before Income Tax Expense | 23,888 | 11,566 | 46,246 | 41,226 |
Income Tax Expense | 9,693 | 4,548 | 18,807 | 16,106 |
Net Income | $ 14,195 | $ 7,018 | $ 27,439 | $ 25,120 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net Income | $ 209,387 | $ 129,247 | $ 464,520 | $ 367,083 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 509 | 510 | 1,018 | 1,019 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | (1,248) | 218 | (1,116) | 458 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 1,120 | 2,086 | 2,074 | 3,047 |
Other Comprehensive Income (Loss), Net of Tax, Total | 381 | 2,814 | 1,976 | 4,524 |
Comprehensive Income Attributable to Noncontrolling Interests | (1,880) | (1,880) | (3,759) | (3,759) |
Comprehensive Income | 207,888 | 130,181 | 462,737 | 367,848 |
The Connecticut Light And Power Company [Member] | ||||
Net Income | 78,770 | 37,385 | 148,004 | 116,684 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 111 | 111 | 222 | 222 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | (43) | 7 | (39) | 15 |
Other Comprehensive Income (Loss), Net of Tax, Total | 68 | 118 | 183 | 237 |
Comprehensive Income | 78,838 | 37,503 | 148,187 | 116,921 |
NSTAR Electric Company [Member] | ||||
Net Income | 81,963 | 60,129 | 165,523 | 118,216 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | (2) | (182) | ||
Other Comprehensive Income (Loss), Net of Tax, Total | (2) | (182) | ||
Comprehensive Income | 81,961 | 60,129 | 165,341 | 118,216 |
Public Service Company Of New Hampshire [Member] | ||||
Net Income | 27,945 | 24,080 | 59,990 | 56,718 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 290 | 291 | 581 | 581 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | (75) | 12 | (67) | 26 |
Other Comprehensive Income (Loss), Net of Tax, Total | 215 | 303 | 514 | 607 |
Comprehensive Income | 28,160 | 24,383 | 60,504 | 57,325 |
Western Massachusetts Electric Company [Member] | ||||
Net Income | 14,195 | 7,018 | 27,439 | 25,120 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 84 | 84 | 169 | 169 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | (12) | 2 | (11) | 4 |
Other Comprehensive Income (Loss), Net of Tax, Total | 72 | 86 | 158 | 173 |
Comprehensive Income | $ 14,267 | $ 7,104 | $ 27,597 | $ 25,293 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating Activities: | ||
Net Income | $ 464,520 | $ 367,083 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ||
Depreciation | 327,505 | 303,014 |
Deferred Income Tax Expense (Benefit) | 176,800 | 133,149 |
Pension, SERP and PBOP Expense | 48,432 | 47,558 |
Pension and PBOP Contributions | (31,032) | (40,640) |
Regulatory Over/(Under) Recoveries, Net | (73,547) | 164,388 |
Amortization of Regulatory Assets/(Liabilities), Net | 59,438 | 54,356 |
Proceeds from DOE Damages Claim, Net | 0 | 125,658 |
Other | (48,247) | (9,359) |
Changes in Current Assets and Liabilities: | ||
Receivables and Unbilled Revenues, Net | (123,984) | (57,570) |
Increase Decrease in Fuel, Materials and Supplies | 60,044 | 26,633 |
Taxes Receivable/(Accrued) | 214,577 | (62,900) |
Accounts Payable | (228,176) | (112,954) |
Other Current Assets and Liabilities, Net | 9,226 | (41,753) |
Net Cash Flows Provided by Operating Activities | 855,556 | 896,663 |
Investing Activities: | ||
Investments in Property, Plant and Equipment | (740,379) | (724,043) |
Proceeds from Sales of Marketable Securities | 427,990 | 256,309 |
Purchases of Marketable Securities | (408,242) | (257,168) |
Other Investing Activities | 4,821 | 3,473 |
Net Cash Flows Used in Investing Activities | (715,810) | (721,429) |
Financing Activities: | ||
Cash Dividends on Common Stock | (264,936) | (237,161) |
Cash Dividends on Preferred Stock | (3,759) | (3,759) |
Increase/(Decrease) in Short-Term Debt | (449,375) | (213,000) |
Issuance of Long-Term Debt | 750,000 | 650,000 |
Retirements of Long-Term Debt | (166,577) | (376,650) |
Other Financing Activities | (7,333) | (3,932) |
Net Cash Flows Provided by/(Used in) Financing Activities | (141,980) | (184,502) |
Net Increase/(Decrease) in Cash | (2,234) | (9,268) |
Cash - Beginning of Year | 38,703 | 43,364 |
Cash - End of Year | 36,469 | 34,096 |
The Connecticut Light And Power Company [Member] | ||
Operating Activities: | ||
Net Income | 148,004 | 116,684 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ||
Depreciation | 105,094 | 92,712 |
Deferred Income Tax Expense (Benefit) | 30,145 | 43,253 |
Pension, SERP and PBOP Expense, Net of Contributions | 7,079 | 5,973 |
Regulatory Over/(Under) Recoveries, Net | (55,302) | 18,156 |
Amortization of Regulatory Assets/(Liabilities), Net | 40,776 | 49,546 |
Proceeds from DOE Damages Claim | 65,370 | |
Other | (2,432) | (3,428) |
Changes in Current Assets and Liabilities: | ||
Receivables and Unbilled Revenues, Net | (73,279) | (129,209) |
Taxes Receivable/(Accrued) | 123,051 | 27,679 |
Accounts Payable | (55,192) | (26,995) |
Other Current Assets and Liabilities, Net | 2,085 | 15,705 |
Net Cash Flows Provided by Operating Activities | 270,029 | 275,446 |
Investing Activities: | ||
Investments in Property, Plant and Equipment | (242,346) | (221,365) |
Other Investing Activities | (1,362) | 1,575 |
Net Cash Flows Used in Investing Activities | (243,708) | (219,790) |
Financing Activities: | ||
Cash Dividends on Common Stock | (98,000) | (85,600) |
Cash Dividends on Preferred Stock | (2,779) | (2,779) |
Issuance of Long-Term Debt | 300,000 | 250,000 |
Increase/(Decrease) in Notes Payable to Affiliate | (47,800) | (280,900) |
Retirements of Long-Term Debt | (162,000) | |
Capital Contributions from NU Parent | 0 | 70,000 |
Other Financing Activities | (8,871) | (3,128) |
Net Cash Flows Provided by/(Used in) Financing Activities | (19,450) | (52,407) |
Net Increase/(Decrease) in Cash | 6,871 | 3,249 |
Cash - Beginning of Year | 2,356 | 7,237 |
Cash - End of Year | 9,227 | 10,486 |
NSTAR Electric Company [Member] | ||
Operating Activities: | ||
Net Income | 165,523 | 118,216 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ||
Depreciation | 97,716 | 93,540 |
Deferred Income Tax Expense (Benefit) | 61,734 | (21,724) |
Pension, SERP and PBOP Expense, Net of Contributions | (264) | (8,281) |
Regulatory Over/(Under) Recoveries, Net | (96,290) | 63,955 |
Amortization of Regulatory Assets/(Liabilities), Net | (12,901) | 14,147 |
Proceeds from DOE Damages Claim | 29,113 | |
Other | (28,653) | (16,870) |
Changes in Current Assets and Liabilities: | ||
Receivables and Unbilled Revenues, Net | (81,524) | (31,746) |
Increase Decrease in Fuel, Materials and Supplies | 17,595 | (7,399) |
Taxes Receivable/(Accrued) | 100,661 | 65,692 |
Accounts Payable | (38,388) | (21,511) |
Accounts Payable Related Parties | (2,680) | 107,363 |
Other Current Assets and Liabilities, Net | 25,076 | 3,158 |
Net Cash Flows Provided by Operating Activities | 207,605 | 387,653 |
Investing Activities: | ||
Investments in Property, Plant and Equipment | (188,103) | (213,508) |
Other Investing Activities | 53 | 576 |
Net Cash Flows Used in Investing Activities | (188,050) | (212,932) |
Financing Activities: | ||
Cash Dividends on Common Stock | (99,000) | (253,000) |
Cash Dividends on Preferred Stock | (980) | (980) |
Increase/(Decrease) in Short-Term Debt | 75,200 | 91,000 |
Issuance of Long-Term Debt | 0 | 300,000 |
Retirements of Long-Term Debt | (4,700) | (301,650) |
Other Financing Activities | 0 | (5,137) |
Net Cash Flows Provided by/(Used in) Financing Activities | (29,480) | (169,767) |
Net Increase/(Decrease) in Cash | (9,925) | 4,954 |
Cash - Beginning of Year | 12,773 | 8,021 |
Cash - End of Year | 2,848 | 12,975 |
Public Service Company Of New Hampshire [Member] | ||
Operating Activities: | ||
Net Income | 59,990 | 56,718 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ||
Depreciation | 51,397 | 48,679 |
Deferred Income Tax Expense (Benefit) | 47,454 | 61,093 |
Pension, SERP and PBOP Expense | 2,359 | 2,416 |
Regulatory Over/(Under) Recoveries, Net | (3,089) | 18,849 |
Amortization of Regulatory Assets/(Liabilities), Net | 27,181 | (7,831) |
Proceeds from DOE Damages Claim | 13,103 | |
Other | 6,367 | 4,386 |
Changes in Current Assets and Liabilities: | ||
Receivables and Unbilled Revenues, Net | (6,597) | 3,500 |
Increase Decrease in Fuel, Materials and Supplies | 11,019 | 8,013 |
Taxes Receivable/(Accrued) | (20,414) | (55,243) |
Accounts Payable | (21,362) | (7,146) |
Other Current Assets and Liabilities, Net | (3,792) | (4,166) |
Net Cash Flows Provided by Operating Activities | 150,513 | 142,371 |
Investing Activities: | ||
Investments in Property, Plant and Equipment | (140,171) | (117,387) |
Other Investing Activities | 169 | (101) |
Net Cash Flows Used in Investing Activities | (140,002) | (117,488) |
Financing Activities: | ||
Cash Dividends on Common Stock | (53,000) | (33,000) |
Increase/(Decrease) in Notes Payable to Affiliate | 43,000 | 8,500 |
Other Financing Activities | (182) | (176) |
Net Cash Flows Provided by/(Used in) Financing Activities | (10,182) | (24,676) |
Net Increase/(Decrease) in Cash | 329 | 207 |
Cash - Beginning of Year | 489 | 130 |
Cash - End of Year | 818 | 337 |
Western Massachusetts Electric Company [Member] | ||
Operating Activities: | ||
Net Income | 27,439 | 25,120 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ||
Depreciation | 21,223 | 20,638 |
Deferred Income Tax Expense (Benefit) | 12,503 | 15,234 |
Regulatory Over/(Under) Recoveries, Net | (7,911) | 28,115 |
Amortization of Regulatory Assets/(Liabilities), Net | 7,264 | 741 |
Proceeds from DOE Damages Claim | 18,073 | |
Other | (3,598) | 1,462 |
Changes in Current Assets and Liabilities: | ||
Receivables and Unbilled Revenues, Net | (11,593) | 44,859 |
Taxes Receivable/(Accrued) | 18,774 | (19,555) |
Accounts Payable | (21,056) | (26,494) |
Other Current Assets and Liabilities, Net | 859 | (11,587) |
Net Cash Flows Provided by Operating Activities | 43,904 | 96,606 |
Investing Activities: | ||
Investments in Property, Plant and Equipment | (62,966) | (61,470) |
Proceeds from Sales of Marketable Securities | 49,739 | 44,449 |
Purchases of Marketable Securities | (50,118) | (44,754) |
Net Cash Flows Used in Investing Activities | (63,345) | (61,775) |
Financing Activities: | ||
Cash Dividends on Common Stock | (18,600) | (49,000) |
Increase/(Decrease) in Notes Payable to Affiliate | 39,200 | 15,900 |
Other Financing Activities | (16) | (22) |
Net Cash Flows Provided by/(Used in) Financing Activities | 20,584 | (33,122) |
Net Increase/(Decrease) in Cash | 1,143 | 1,709 |
Cash - Beginning of Year | 0 | 0 |
Cash - End of Year | $ 1,143 | $ 1,709 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Significant Accounting Policies [Text Block] | EVERSOURCE ENERGY AND SUBSIDIARIES THE CONNECTICUT LIGHT AND POWER COMPANY NSTAR E LECTRIC COMPANY AND SUBSIDIARY PUBLIC SERVICE COMPANY O F NEW HAMPSHIRE AND SUBSIDIARY WESTERN MASSACHUSETTS ELECTRIC COMPANY COMBINED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Refer to the Glossary of Terms included in this combined Quarterly Report on Form 10- Q for abbreviations and acronyms used throughout the combined notes to the unaudited condensed consolidated financial statements. 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A . Basis of Presentation Eversource Energy is a public utility holding company primarily engaged through its wholly owned regulated utility subsidiaries in the energy delivery business. Eversource Energy 's wholly owned regulat ed utility subsidiaries consist of CL&P, NSTAR Electric, PSNH, WMECO, Yankee Gas and NSTAR Gas. Eversource provides energy deliv ery service to approximately 3.6 million electric and natural gas customers through these six regulated utilities in Connecticut, Ma ss achusetts and New Hampshire . On April 30 , 2015, the Company's legal name was changed from Northeast Utilities to Eversource Energy. CL&P, NSTAR Electric, PSNH and WMECO are each doing business as Eversource Energy. The unaudited condensed consolidated financial stateme nts of Eversource , NSTAR Electric and PSNH include the accounts of each o f their respective subsidiaries. Intercompany transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements of Eversource , NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P and WMECO are herein collectively referred to as the "financial statements." The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. The accompanying financial statements should be read in conjunction with the entirety of this combine d Quarterly Report on Form 10 -Q , the first quarter 2015 combine d Quarterly Report on Form 10 -Q and the 2014 combined Annual Report on Form 10 -K of Eversource , CL&P, NSTAR Electric, PS NH and WMECO, which were filed with the SEC. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource 's, CL&P's, NSTAR Electric's, PSNH's and WMECO's financial position as of June 30 , 2015 and December 31, 2014, the results of operations and comprehensive income for the three and six months ended June 30 , 2015 and 2014 , and the cash flows for the six months ended June 30, 2015 and 2014 . The results of operations and comprehensive income for the three and six months ended June 30 , 2015 and 2014 and the cash flows for the six months ended June 30, 2015 and 2014 are not necessarily indicative of the results expected for a full year. Eversource consolidates CYAPC and YAEC because CL&P's, NSTAR Electric's, PSNH's and WMECO's combined ownership interest in each of these entities is greater than 50 percent. Intercompany transactions between CL&P, NSTAR Electric, PSNH and WMECO and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements. Eversource 's utility subsidiaries ' distribution (including generation ) and transmission businesses and NPT are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations , which considers the effect of regulation on the d ifferences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information. Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation . B. Accounting Standards Accounting Standards Issued but not Yet Effective : In May 2014, the Financial Accounting Standards Board ( FASB ) issued ASU 2014-09, Revenue from Contracts with Customers , which amends existing revenue recognition guidance and is required to be applied retrospectively (either to each reporting period presented or cumulatively at the date of initial application). On July 9, 2015 , the FASB deferred the effective date of the new revenue standard by one year. The Company will implement the standard beginning in the first quarter of 2018. Management is reviewing the requirements of the ASU. The ASU is not expected to have a material impact on the financial statements of Eversource , CL&P, NSTAR Electric, PSNH and WMECO . In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , that changes the balance sheet presentation of debt issuance costs. Under the new standard, issuance costs related to debt will be presented on the balance sheet as a direct deduction from the carrying amount of the debt liability rather than as a deferred cost as required by current guidance . The new accounting guidance is effective for interim and annual periods beginning in the first quarter of 2016 with early adoption permitted. Upon adoption, an entity must apply the new guidance retrospectively to all prior periods presented in the financial statements. Management does not expect the adoption of this standard to have a material effect on the financial statements of Eversource , CL&P, NSTAR Electric, PSNH and WMECO . C . Provision for Uncollectible Accounts Eversource, including CL&P, NSTAR Electric, PSNH and WMECO, presents its receivables at estimated net realizable value by maintaining a provision for uncollectible accounts. This provision is determined based upon a variety of judgments and factors, including the application of an estimated uncollectible percentage to each receivable aging category. The estimate is based upon historical collection and write-off experience and management's assessment of collectability from customers. Management continuously assesses the collectability of receivables and adjusts collectability estimates based on actual experience. Receivable balances are written off against the provision for uncollectible accounts when the accounts are terminated and these balances are deemed to be uncollectible. The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 90 days. The DPU allows WMECO to also recover in rates amounts associated with certain uncollectible hardship accounts receivable. Uncollectible customer account balances, which are expected to be recovered in rates, are included in Regulatory Assets or Other Long-Term Assets. The total provision for uncollectible accounts and for uncollectible hardship accounts , which is included in the total provision, are included in Recei vables, Net on the balance sheets, and were as follows: Total Provision for Uncollectible Accounts Uncollectible Hardship (Millions of Dollars) As of June 30, 2015 As of December 31, 2014 As of June 30, 2015 As of December 31, 2014 Eversource $ 209.8 $ 175.3 $ 106.2 $ 91.5 CL&P 100.5 84.3 84.7 74.0 NSTAR Electric 46.3 40.7 - - PSNH 9.5 7.7 - - WMECO 12.1 9.9 7.2 6.2 D . Fair Value Measurements Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases or normal sales" (normal) and to the marketable securities held in trusts. Fair value measurement guidanc e is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans and nonrecurring fair value measurements of nonfinancial ass ets such as goodwill and AROs, and is also used to estimate the fair value of preferred stock and long-term debt. Fair Value Hierarchy: In measuring fair value, Eversource uses observabl e market data when available in order to minimize the use of unobservable inputs. Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes. The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement. Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis, and Eversource ' s policy is to recognize transfers between levels of the fair value hierarchy as of the end of the reporting period. The three levels of the fair value hierarchy are described below: Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable. Level 3 - Quoted market prices are not available. Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable. Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products. Determination of Fair Value: The valuation techniques and inputs used in Eversource 's fair value measurements are described in Note 4 , "Derivative Instruments," Note 5 , "Marketable Securities," and Note 9 , "Fair Value of Financial Instruments," to the financial statements. E . Other Income, Net Items included within Other Income, Net on the statements of income primarily consist of investment income /( loss), interest income, AFUDC related to equity funds , and equity in earnings. Investment incom e /( loss) primarily relates to debt and equity securities held in trust . For further information, see Note 5, "Marketable Securities," to the financial statements. F . Other Taxes Gross receipts taxes levied by the state of Connecticut are collected by CL&P and Yankee Gas from their respective customers. These gross receipts taxes are shown separately with collections in Operating Revenues and payments in Taxes Other Than I ncome Taxes on the statements of income as follows : For the Three Months Ended For the Six Months Ended (Millions of Dollars) June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Eversource $ 33.2 $ 35.2 $ 75.1 $ 79.6 CL&P 29.5 30.9 62.5 66.5 Certain sales taxes are collected by Eversource 's companies that s erve customers in Connecticut and Massachusetts as agents for state and local governments and are recorded on a net basis with no impact on the statements of income . G. Supplemental Cash Flow Information Non-cash investing activities include plant additions included in Accounts Payable as follows: (Millions of Dollars) As of June 30, 2015 As of June 30, 2014 Eversource $ 142.3 $ 125.5 CL&P 47.2 54.0 NSTAR Electric 29.5 21.6 PSNH 25.6 14.8 WMECO 13.7 9.9 H. Severance Benefits E versource rec orded severance benefit expense of $ 1.2 million and $ 1.4 million for the three months ended June 30, 2015 and 2014 , respectively, and $ 1.6 million and $ 5.7 million for the six months ended June 30, 2015 and 2014, respectively, in connection with reorganizational and cost saving initiatives, and, in 2014, the partial outsourcing of information technology functions . As of June 30 , 2015 and December 31, 2014 , the severance accrual totaled $ 7.8 million and $ 10.4 million , respectively, and was included in Other Current Liabilities on the balance sheet s . |
REGULATORY ACCOUNTING
REGULATORY ACCOUNTING | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Public Utilities Disclosure [Text Block] | 2 . REGULATORY ACCOUNTING Eversource's Regulated companies are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for rate-regulated operations , which consider the effect of regulation o n the timing of the recognition of certain revenues and expenses . The Regulated companies' financial statements reflect the effects of the rate-making process. The ra tes charged to the customers of Eversource 's Regulated companies are designed to collect each company's costs to provide service, including a return on investment. Management believes it is probable that each of the Regulated companies will recover their respective investments in long-lived assets, including regulatory assets. If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises to any of the Regulated companies' operations, or that management could not conclude it is probable that costs would be recovered from customers in future rates, the costs would be charged to net income in the period in which the determination is made. Regulatory Assets: The components of regulatory assets are as follows: As of June 30, 2015 As of December 31, 2014 (Millions of Dollars) Eversource Eversource Benefit Costs $ 1,980.0 $ 2,016.0 Derivative Liabilities 423.7 425.5 Income Taxes, Net 631.5 635.3 Storm Restoration Costs 484.3 502.8 Goodwill-related 495.1 505.4 Regulatory Tracker Mechanisms 430.7 350.5 Contractual Obligations - Yankee Companies 124.8 123.8 Other Regulatory Assets 156.3 167.3 Total Regulatory Assets 4,726.4 4,726.6 Less: Current Portion 709.7 672.5 Total Long-Term Regulatory Assets $ 4,016.7 $ 4,054.1 As of June 30, 2015 As of December 31, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH WMECO CL&P Electric PSNH WMECO Benefit Costs $ 443.3 $ 496.1 $ 175.1 $ 85.9 $ 445.4 $ 515.9 $ 174.3 $ 85.0 Derivative Liabilities 420.2 2.2 - - 410.9 4.5 - - Income Taxes, Net 438.9 84.0 34.8 30.7 437.7 83.7 38.0 35.5 Storm Restoration Costs 298.4 117.1 41.1 27.7 319.6 103.7 47.7 31.8 Goodwill-related - 425.1 - - - 433.9 - - Regulatory Tracker Mechanisms 44.8 255.0 84.3 36.0 16.1 141.4 103.5 33.0 Other Regulatory Assets 79.6 77.2 35.7 12.7 66.1 94.7 41.3 12.9 Total Regulatory Assets 1,725.2 1,456.7 371.0 193.0 1,695.8 1,377.8 404.8 198.2 Less: Current Portion 263.7 258.5 88.8 54.9 220.3 198.7 111.7 51.9 Total Long-Term Regulatory Assets $ 1,461.5 $ 1,198.2 $ 282.2 $ 138.1 $ 1,475.5 $ 1,179.1 $ 293.1 $ 146.3 Regulatory Costs in Other Long-Term Assets : T he Regulated companies had $ 60.8 million ($ 1.9 million for CL&P , $ 21.9 million for NSTAR Electric , $ 2 million for PSNH and $ 15.4 million for WMECO) and $ 60.5 million ($ 1.3 million for CL&P, $ 33. 2 million for NSTAR Electric , $0.9 million for PSNH, and $ 11 million for WMECO) of additional regulatory costs as of June 30 , 2015 and December 31, 201 4 , respectively, that were included in Other Long- Term Assets on the balance sheets. These amounts represent incurred costs for which recovery has not yet been specifically approved by the applicable regulatory agency. However, based on regulatory policies or past precedent on similar costs, m anagement believes it is probable that these costs will ultimately be approved and recovered from customers in rates . The NSTAR Electric balance as of June 30 , 2015 and December 31, 2014 primarily related to costs deferred in connection with the basic ser vice bad debt adder. See Note 8 D , "Commitments and Contingencies – Basic Service Bad Debt Adder," for further information. Regulatory Liabilities: The components of regulatory liabilities are as follows: As of June 30, 2015 As of December 31, 2014 (Millions of Dollars) Eversource Eversource Cost of Removal $ 434.9 $ 439.9 Regulatory Tracker Mechanisms 198.0 192.3 AFUDC - Transmission 66.2 67.1 Other Regulatory Liabilities 20.2 50.8 Total Regulatory Liabilities 719.3 750.1 Less: Current Portion 208.5 235.0 Total Long-Term Regulatory Liabilities $ 510.8 $ 515.1 As of June 30, 2015 As of December 31, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH WMECO CL&P Electric PSNH WMECO Cost of Removal $ 13.5 $ 261.5 $ 49.1 $ 2.8 $ 19.7 $ 258.3 $ 50.3 $ 1.1 Regulatory Tracker Mechanisms 115.6 2.9 4.8 17.0 122.6 20.7 14.2 22.3 AFUDC - Transmission 52.2 5.0 - 9.0 53.6 4.4 - 9.1 Other Regulatory Liabilities 12.5 2.2 2.0 0.9 10.1 28.9 2.9 0.8 Total Regulatory Liabilities 193.8 271.6 55.9 29.7 206.0 312.3 67.4 33.3 Less: Current Portion 122.6 5.0 5.6 16.8 124.7 49.6 16.0 22.5 Total Long-Term Regulatory Liabilities $ 71.2 $ 266.6 $ 50.3 $ 12.9 $ 81.3 $ 262.7 $ 51.4 $ 10.8 2015 Regulatory Developments: FERC ROE Complaints: As a result of the March 3, 2015 FERC order in the pending ROE complaint proceedings described in Note 8 C, "Commitment s and Contingencies – FERC ROE Complaints , " in 2015, Eversource recognized a pre-tax charge to earnings (excluding interest) of $20 million, of which $12.5 million was recorded at CL&P, $2.4 million at NSTAR Electric, $1 million at PSNH, and $4.1 million at WMECO. The pre-tax charge was recorded as a regulatory liability and as a reduction to Operating Revenues. NSTAR Electric and NSTAR Gas 2014 Comprehensive Settlement Agreement : On March 2, 2015, the DPU approved the comprehensive settlement agreement between NSTAR Electric, NSTAR Gas and the Massachusetts Attorney General (the " Settlement " ) as filed with the DPU on December 31, 2014. The Settlement resolved the outstanding NSTAR Electric CPSL program filings for 2006 through 2011, the NSTAR Electric and NSTAR Gas PAM and energy efficiency-related customer billing adjustments reported in 2012, and the recovery of LBR related to NSTAR Electric ' s energy efficiency programs for 2009 through 2011 (11 dockets in total). In 2015, as a result of the DPU order, NSTAR Electric and NSTAR Gas commenced refunding a combined $44.7 million to customers, which was recorded as a regulatory liability. NSTAR Electric recognized a $21.7 million pre-tax benefit in the first half of 2015 as a result of the approval of the Settlement . NSTAR Electric Basic Service Bad Debt Adder : On January 7, 2015, the DPU issued an order concluding that NSTAR Electric had removed energy-related bad debt costs from base distribution rates effective January 1, 2006. The DPU ordered NSTAR Electric and the Massachusetts Attorney General to collaborate on the reconciliations of energy-related bad debt costs through 2014. As a result of the DPU order, NSTAR Electric increased its regulatory assets and reduced operations and maintenance expense by $24.2 million in the first quarter, resulting in after-tax earnings of $14.5 million. On May 5, 2015, NSTAR Electric filed for recovery of the energy-related bad debt costs regulatory asset from customers beginning July 1, 2015. On June 24, 2015, the DPU delayed the effective date of NSTAR Electric's proposed rate increase from July 1, 2015 to November 1, 2015 to allow for the DPU staff to review the reconciliations. The established procedural schedule is expected to result in an approval of the proposed rate increase in the fourth quarter of 2015. CL&P Distribution Rates : On December 17, 2014, PURA granted a re-opener request to CL&P's base distribution rate application for further review of the appropriate balance of ADIT utilized in the calculation of rate base. On July 2, 2015, PURA issued a final order that approved a settlement agreement filed on May 19, 2015 between CL&P and the PURA Prosecutorial Staff. The order allows for an increase to rate base of approximately $166 million associated with ADIT, including a regulatory asset to recover the incremental revenue requirement for the period December 1, 2014 through November 30, 2015 over a subsequent two-year period. The rate base increase provided an increase to total allowed annual revenue requirements of $18.4 million beginning December 1, 2014. Of that amount, $10.7 million has been recorded as a regulatory asset in June 2015, with a corresponding increase in Operating Revenues. The remaining $7.7 million will be recorded from July 2015 through November 2015. The aggregate amount will be collected from customers in rates over a 24-month period commencing on December 1, 2015. |
PROPERTY, PLANT AND ACCUMULATED
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Property Plant And Equipment Disclosure [Text Block] | 3. PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION The following tables summarize the investments in utility property, plant and equipment by asset category : As of June 30, 2015 As of December 31, 2014 (Millions of Dollars) Eversource Eversource Distribution - Electric $ 12,701.6 $ 12,495.2 Distribution - Natural Gas 2,625.9 2,595.4 Transmission 7,196.3 6,930.7 Generation 1,175.9 1,170.9 Electric and Natural Gas Utility 23,699.7 23,192.2 Other (1) 547.5 551.3 Property, Plant and Equipment, Gross 24,247.2 23,743.5 Less: Accumulated Depreciation Electric and Natural Gas Utility (5,950.4) (5,777.8) Other (238.4) (231.8) Total Accumulated Depreciation (6,188.8) (6,009.6) Property, Plant and Equipment, Net 18,058.4 17,733.9 Construction Work in Progress 1,020.8 913.1 Total Property, Plant and Equipment, Net $ 19,079.2 $ 18,647.0 (1) These assets are primarily comprised of building improvements , computer software , hardware and equipment and telecommunications assets at Eversource S ervice and Eversource's unregulated companies . As of June 30, 2015 As of December 31, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH WMECO CL&P Electric PSNH WMECO Distribution $ 5,245.3 $ 4,954.7 $ 1,744.8 $ 796.8 $ 5,158.8 $ 4,895.5 $ 1,696.7 $ 784.2 Transmission 3,455.5 1,965.2 821.2 906.4 3,274.0 1,928.5 789.7 891.0 Generation - - 1,141.5 34.4 - - 1,136.5 34.4 Property, Plant and Equipment, Gross 8,700.8 6,919.9 3,707.5 1,737.6 8,432.8 6,824.0 3,622.9 1,709.6 Less: Accumulated Depreciation (1,975.9) (1,824.9) (1,127.6) (309.2) (1,928.0) (1,761.4) (1,090.0) (297.4) Property, Plant and Equipment, Net 6,724.9 5,095.0 2,579.9 1,428.4 6,504.8 5,062.6 2,532.9 1,412.2 Construction Work in Progress 209.7 356.7 135.0 79.8 304.9 272.8 102.9 49.1 Total Property, Plant and Equipment, Net $ 6,934.6 $ 5,451.7 $ 2,714.9 $ 1,508.2 $ 6,809.7 $ 5,335.4 $ 2,635.8 $ 1,461.3 As of June 30, 2015, PSNH had $ 1.1 billion in gross generation utility plant assets and Accumulated Depreciation of $ 505.6 million. These generation assets are the subject of a divestiture agreement entered into on June 10 , 2015 between Eversource, PSNH and key New Hampshire officials whereby, among other resolutions, PSNH has agreed to sell these generation assets. Upon completion of the sale, all remaining stranded costs will be recovered via bonds that will be secured by a non- bypassable charge on the bills of PSNH's customers . See Note 8 E , “Commitments and Contingencies – PSNH Generation Restructuring,” for further information. |
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS | 6 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 4 . DERIVATIVE INSTRUMENTS The Regulated companies purchase and procure energy and energy-related products , which are subject to price volatility, for their customers . The costs associated with supplying energy to customers are recoverable from customer s, in future rates. The Regulated companies manage the risks associated with the price volatility of energy and energy-related products through the use of derivative and nonderivative contracts. Many of the derivative contracts meet the definition of, and are designated as, normal and qualify for accrual accounting under the applicable accounting guidance. The costs and benefits of derivative contracts that meet the definition of normal are recognized in Operating Expenses or Operating Revenues on the statements of income, as applicable, as electricity or natural gas is delivered. Derivative contracts that are not designated as normal are recorded at fair value as current or long-term Derivative Assets or Derivative Liabilities on the balance sheets. For the Regulated companies, regulatory assets or regulatory liabilities are recorded to offset the fair values of derivatives, as contract settlement amount s are recovered from, or refunded to, customers in their respective energy supply rates. The gross fair values of derivative assets and liabilities with the same counterparty are offset and reported as net Derivative Assets or Derivative Liabilities, with current and long-term portions, on the balance sheets. The following table present s the gross fair values of contracts categorized by risk type and the net amount recorded as current or long-term derivative asset or liability: As of June 30, 2015 As of December 31, 2014 Commodity Supply Net Amount Commodity Supply Net Amount and Price Risk Recorded as and Price Risk Recorded as (Millions of Dollars) Management Netting (1) a Derivative Management Netting (1) a Derivative Current Derivative Assets: Level 3: Eversource $ 16.5 $ (10.4) $ 6.1 $ 16.2 $ (6.6) $ 9.6 CL&P 16.5 (10.4) 6.1 16.1 (6.6) 9.5 NSTAR Electric - - - 0.1 - 0.1 Long-Term Derivative Assets: Level 3: Eversource $ 69.1 $ (23.9) $ 45.2 $ 93.5 $ (19.2) $ 74.3 CL&P 68.7 (23.9) 44.8 93.5 (19.2) 74.3 NSTAR Electric 0.4 - 0.4 - - - Current Derivative Liabilities: Level 2: Eversource $ (1.5) $ 0.2 $ (1.3) $ (9.8) $ - $ (9.8) Level 3: Eversource (92.7) - (92.7) (90.0) - (90.0) CL&P (90.9) - (90.9) (88.5) - (88.5) NSTAR Electric (1.8) - (1.8) (1.5) - (1.5) Long-Term Derivative Liabilities: Level 2: Eversource $ - $ - $ - $ (0.3) $ - $ (0.3) Level 3: Eversource (381.0) - (381.0) (409.3) - (409.3) CL&P (380.2) - (380.2) (406.2) - (406.2) NSTAR Electric (0.8) - (0.8) (3.1) - (3.1) (1) Amounts represent derivativ e assets and liabilities that Eversource elected to record net on the balance sheets. These amounts are subject to master netting agreements or similar agreements for which the right of offset exists. For further information on the fair value of d erivative contracts, see Note 1 D , "Summary of Significant Accounting Policies - Fair Value Measurements ," to the financial statements. Deri vative Contract s at Fair Value with Offsetting Regulatory Amounts Commodity Supply and Price Risk Management : As required by regulation, CL&P , along with UI, has capacity-related contracts with generation facilities. CL&P has a sharing agreement with UI, with 80 percent of each contract allocated to CL&P and 20 percent allocated to UI. The combined capacity of these contracts is 787 MW. The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the capacity market price received in the ISO-NE capacity markets. In addition, CL&P has a contract to purchase 0.1 million MWh of energy per year through 2020. NSTAR Electric has a renewable energy contract to purchase 0.1 million MWh of energy per year through 2018 and a capacity - related contract to purchase up to 35 MW per year through 2019. As of June 30, 2015 and December 31, 2014 , Eversource had NYMEX financial contracts for natural gas futures in order to reduce variability associated with the purchase price of approximately 6.8 million and 8.8 million MMBtu of natural gas, respectively. For the three months ended June 30 , 2015 and 2014, there were losses of $ 36.6 million and gains of $ 111.6 million , respectively, recorded as regulatory assets and liabilities, which reflect the current change in fair va lue associated with Eversource's derivative contracts . For the six months ended June 30, 2015 and 2014 , t here were losses of $ 50.1 million and gains of $166 million, respectively. Credit Risk Certain of Eversource ' s derivative contracts contain credit risk contingent provisions . These provisions require Eversource to maintain investment grade credit ratings from the major rating agencies and to post collateral for contracts in a net liability position over specified credit limits. As of June 30 , 2015 and December 31, 201 4 , Eversource had approximately $ 1.3 million and $ 10 million, respectively, of derivative contracts in a net liability position that were subject to credit risk c ontingent provisions and would have been required to post additional collateral of approximately $ 1.3 million and $ 10 million, respectively, if E versource parent ' s unsecured debt credit ratings had been downgraded to below investment grade. Fair Value Measurements of Derivative Instruments Derivative contracts classified as Level 2 in the fair value hierarchy relate to the financial contracts for natural gas futures. Prices are obtained from broker quotes and are based on actual market activity. The contracts are valued using NYMEX natural gas prices . Valuations of these contracts also incorporate discount rates using the yield curve approach. The fair value of derivative contracts classified as Level 3 utilizes significant unobservable inputs. The fair value is modeled using income techniques, such as discounted cash flow valuations adjusted for assumptions relating to exit price. Significant observable inputs for valuations of these contracts include energy and energy-related product prices in future years for which quoted prices in an active market exist. Fair value measurements categorized in Level 3 of the fair value hierarchy are prepared by individuals with expertise in valuation techniques, pricing of energy and energy-related products, and accounting requirements. The future power and capacity prices for periods that are not quoted in an active market or established at auction are based on available market data and are escalated based on estimates of inflation to address the full time period of the contract. Valuations of derivative contracts using a discounted cash flow methodology include assumptions regarding the timing and likelihood of scheduled payments and also reflect non-performance risk, including credit, using the default probability approach based on the counterparty ' s credit rating for assets and the Company ' s credit rating for liabilities. Valuations incorporate estimates of premiums or discounts that would be required by a market participant to arrive at an exit price, using historical market transactions adjusted for the terms of the contract. The following is a summary of Eversource 's, including CL&P's and NSTAR Electric's, Level 3 derivative contracts and the range of the significant unobservable inputs utilized in the valuations over the duration of the contracts : As of June 30, 2015 As of December 31, 2014 Range Period Covered Range Period Covered Energy Prices: Eversource, CL&P $ 45 per MWh 2020 $ 52 per MWh 2020 Capacity Prices: Eversource $ 10.05 - 12.60 per kW-Month 2016 - 2026 $ 5.30 - 12.98 per kW-Month 2016 - 2026 CL&P $ 10.81 - 12.60 per kW-Month 2019 - 2026 $ 11.08 - 12.98 per kW-Month 2018 - 2026 NSTAR Electric $ 10.05 - 10.81 per kW-Month 2016 - 2019 $ 5.30 - 11.10 per kW-Month 2016 - 2019 Forward Reserve: Eversource, CL&P $ 2.40 per kW-Month 2015 - 2024 $ 5.80 - 9.50 per kW-Month 2015 - 2024 REC Prices: Eversource, NSTAR Electric $ 46 - 51 per REC 2015 - 2018 $ 38 - 56 per REC 2015 - 2018 Exit price premiums of 6 percent through 23 percent are also applied on these contracts and reflect the most recent market activity available for similar type contracts . Significant increases or decreases in future energy or capacity prices in isolation would decrease or increase, respectively, the fair value of the derivative liability. Any increases in the risk premiums would increase the fair value of the derivative liabilities. Changes in these fair values are recorded as a regulatory asset or liability and would not impact net income. Valuations using significant unobservable inputs: The following table present s changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis. The derivative assets and liabilities are presented on a net basis. For the Three Months Ended June 30, 2015 2014 NSTAR NSTAR (Millions of Dollars) Eversource CL&P Electric Eversource CL&P Electric Derivatives, Net: Fair Value as of Beginning of Period $ (406.8) $ (403.3) $ (3.5) $ (564.3) $ (557.0) $ (7.3) Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets and Liabilities (37.1) (36.8) (0.3) 111.8 112.2 (0.4) Settlements 21.5 19.9 1.6 21.6 20.2 1.4 Fair Value as of End of Period $ (422.4) $ (420.2) $ (2.2) $ (430.9) $ (424.6) $ (6.3) For the Six Months Ended June 30, 2015 2014 NSTAR NSTAR (Millions of Dollars) Eversource CL&P Electric Eversource CL&P Electric Derivatives, Net: Fair Value as of Beginning of Period $ (415.4) $ (410.9) $ (4.5) $ (635.2) $ (630.6) $ (7.3) Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets and Liabilities (49.2) (48.9) (0.3) 161.3 164.5 (0.5) Settlements 42.2 39.6 2.6 43.0 41.5 1.5 Fair Value as of End of Period $ (422.4) $ (420.2) $ (2.2) $ (430.9) $ (424.6) $ (6.3) |
MARKETABLE SECURITIES
MARKETABLE SECURITIES | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Marketable Securities [Text Block] | 5. MARKETABLE SECURITIES Eversource maintains trusts to fund certain non-qualified executive benefits and WMECO maintains a spent n uclear fuel trust to fund WMECO' s prior peri od spent nuclear fuel liability. These trusts hold marketable securities. These trusts are not subject to regulatory oversight by state or federal agencies. In addition, CYAPC and YAEC maintain legally restricted trusts, each of which holds marketable securities, for paying the decommissioning and fuel removal obligations of their nuclear fuel storage facilities . Trading Securities: T he Company elected to record certain equity securities a s trading securities, with the changes in fair values recorded in Other Income, Net on the statements of income. As of June 30 , 2015 and December 31, 2014 , these securities were classified as Leve l 1 in the fair value hierarchy and totaled $ 14.9 million and $85.1 million, respectively . N et gains on these securities of $ 0. 5 million and $ 3.1 million for the three months ended June 30, 2015 and 2014 , respectively, and net gains of $ 2 .1 million and $ 3.8 million, respectively , for the six months ended June 30, 2015 and 2014, respectively , were recorded in Other Income, Net on the statements of income. Dividend income is recorded in Other Income, Net when dividends are declared. During the second quarter of 2015, certain of the securities classified as trading securities were sold and the proceeds were re-invested in equity securities designated as available-for-sale securities. Available-for-Sale Securities: The following is a summary of E versource ' s and WMECO' s available-for-sale securities. These securities are recorded at fair value and are included in current and long-term Marketable Securities on the balance sheets. As of June 30, 2015 As of December 31, 2014 Pre-Tax Pre-Tax Pre-Tax Pre-Tax Amortized Unrealized Unrealized Amortized Unrealized Unrealized (Millions of Dollars) Cost Gains Losses Fair Value Cost Gains Losses Fair Value Eversource Debt Securities (1) $ 315.3 $ 4.9 $ (0.6) $ 319.6 $ 313.0 $ 7.5 $ (0.3) $ 320.2 Equity Securities (1) 216.5 72.9 (1.2) 288.2 160.6 73.3 - 233.9 WMECO Debt Securities (2) 58.3 - - 58.3 58.2 - (0.1) 58.1 Eversource 's amounts include CYAPC's and YAEC's marketable securities held in nuclear decommissioning trusts of $ 450 million and $450.8 million as of June 30 , 2015 and December 31, 2014, respectively, which are legally restricted and can only be used for the costs of decommissioning and fuel removal of the nuclear fuel storage facilities owned by these companies. Unrealized gains and losses for the nuclear decommissioning trusts are recorded in Marketable Securities with the corresponding offset to Other Long-Term Liabilities on the balance sheets, with no impact on the statements of income. Unrealized gains and losses on debt securities held by WMECO are recorded in Marketable Securities with the corresponding offset to Other Long-Term Assets on the balance sheets. Unrealized Losses and Other-than-Temporary Impairment: There have been no significant unrealized losses, other-than-temporary imp airments or credit losses for Eversource or WMECO. Factors considered in determining whether a credit loss exists include the duration and severity of the impairment, adverse conditions specifically affecting the issuer, and the payment history, ratings and rating changes of the security. For asset-backed debt securities, underlying collateral and expected future cash flows are also evaluated. Realized Gains and Losses: Realized gains and losses on available-for-sale securities are reco rded in Other Income, Net for Eversource 's benefit trust, Other Long-Term Assets for WMECO, and are offset in Other Long-Term Liabilities for CYAPC and YAEC. Eversource utilizes the specific ident ification basis method for the Eversource benefit trust , and the average cost basis method for the WMECO trust and the CYAPC and YAEC nuclear decommissioning trusts to compute the realized gains and losses on the sale of available-for-sale securities. Contractual Maturities : As of June 30 , 2015, the contractual maturities of available-for-sale debt securities were as follows: Eversource WMECO Amortized Amortized (Millions of Dollars) Cost Fair Value Cost Fair Value Less than one year (1) $ 66.1 $ 66.1 $ 38.4 $ 38.4 One to five years 70.4 70.8 16.2 16.2 Six to ten years 60.1 61.2 0.6 0.6 Greater than ten years 118.7 121.5 3.1 3.1 Total Debt Securities $ 315.3 $ 319.6 $ 58.3 $ 58.3 1) Amou nts in the Less than one year E versource category include securities in the CYAPC and YAEC nuclear decommissioning trusts, which are restricted and are classified in long-term Marketable Securities on the balance sheets. Fair Value Measurements: The following table presents the marketable securities recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy: Eversource WMECO (Millions of Dollars) As of June 30, 2015 As of December 31, 2014 As of June 30, 2015 As of December 31, 2014 Level 1: Mutual Funds and Equities $ 303.1 $ 319.0 $ - $ - Money Market Funds 26.4 24.9 2.1 4.3 Total Level 1 $ 329.5 $ 343.9 $ 2.1 $ 4.3 Level 2: U.S. Government Issued Debt Securities (Agency and Treasury) $ 38.6 $ 51.3 $ - $ - Corporate Debt Securities 60.1 49.1 13.6 14.7 Asset-Backed Debt Securities 32.0 54.1 10.0 14.5 Municipal Bonds 126.9 116.3 10.8 13.0 Other Fixed Income Securities 35.6 24.5 21.8 11.6 Total Level 2 $ 293.2 $ 295.3 $ 56.2 $ 53.8 Total Marketable Securities $ 622.7 $ 639.2 $ 58.3 $ 58.1 U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates. Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instrument and also incorporating yield curves, credit spreads and specific bond terms and conditions. Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables. Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates, and tranche information. Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields. Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows. |
SHORT TERM AND LONG TERM DEBT
SHORT TERM AND LONG TERM DEBT | 6 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Debt Disclosure | 6. SHORT-TERM AND LONG-TERM DEBT Credit Agreements and Commercial Paper Programs: Eversource parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas are parties to a five-year $1.45 billion revolving credit facility that expires September 6, 2019 . The facility serves to backstop Eversource parent's $1.45 billion commercial paper program. The commercial paper program allows Eversource parent to issue commercial paper as a form of short-term debt . As of June 30 , 2015 and December 31, 2014 , E versource parent had $ 57 6.5 m illion and approximately $1. 1 billion, respectively, in short-term borrowings outstanding under the Eversource parent commercial paper program, leaving $ 873.5 million and $ 348.9 million of available borrowing capacity as of June 30 , 2015 and December 31, 2014 , respectively. The weighted-average interest rate on these borrowings as of June 30 , 2015 and December 31, 2014 was 0.40 percent and 0.43 percent, r espectively . As of June 30 , 2015 , there were intercompany loans from E versource parent of $ 85.6 million to CL&P, $ 133.5 million to PSNH and $ 60.6 million to WMECO. As of December 31, 2014, there were intercompany loans from E versource parent of $133.4 million to CL&P, $90.5 million to PSNH and $21.4 million to WMECO . NSTAR Electric has a five-year $450 million revolving credit facility that expires September 6, 2019 . The facility serves to bac kstop NSTAR Electric's $450 million commercial paper program. As of June 30 , 2015 and December 31, 2014 , NSTAR Electric had $ 377.2 million and $ 302 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $ 72.8 million and $ 148 million of available borrowing capacity as of June 30 , 2015 and December 31, 2014 , respectively. The weighted-average interest rate on these borrowings as of June 30 , 2015 and December 31, 2014 was 0.19 percent and 0.27 percent, respectively . On June 16, 2015, the FERC granted authorization to allow CL&P and WMECO to incur total short-term borrowings up to a maximum of $600 million and $300 million, respectively, effective January 1, 2016 through December 31, 2017. Except as described below, amounts outstanding under the commercial paper programs are included in Notes Payable for Eversource and NSTAR Electric and classified in current liabilities on the balance sheets as all borrowings are outstanding for no more than 364 days at one time. Intercompany loans from E versource parent to CL&P, PSNH and WMECO ar e included in Notes Payable to Eversource Parent and classified in current liabilities on the balance sheets. Intercompany loans from Eversource parent to CL&P, PSNH and WMECO are eliminated in consolidation in Eversource 's balance sheets. Long-Term Debt: On January 15, 2015, Eversource parent issued $150 million of 1.60 percent Series G Senior Notes , due to mature in 2018 and $300 million of 3.15 percent Series H Senior Notes, due to mature in 2025. The proceeds, net of issuance costs, were used to repay short-term borrowings outstanding under the Eversource parent commercial paper program. As the debt issuances refinanced short-term debt, the short-term debt was classified as Long-Term Debt as of December 31, 2014. O n April 1, 2015, CL&P repaid at maturity the $100 million 5.00 percent 2005 Series A First and Refunding Mortgage Bonds using short-term borrowings. On April 1, 2015, CL&P also redeemed the $62 million 199 6 A Series 1.55 percent PCRB s that were subject to mandatory tender , using short term borrowings . On May 20, 2015, CL&P issued $300 million of 4.15 percent 2015 Series A First and Refunding Mortgage Bonds due to mature in 2045. The proceeds, net of issuance costs, were used to repay short-term borrowings. On August 1, 2015, WMECO repaid at maturity the $50 million 5.24 percent Series C Senior Notes using short-term borrowings. Long-Term Debt Issuance Authorization : On April 3 , 2015, the DPU authorized NSTAR Gas to issue up to $100 million in long-term debt for the period through December 31, 2015. |
PENSION BENEFITS AND POSTRETIRE
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 7 . Pension Benefits and Postretirement Benefits Other than Pensions As of December 31, 2014, Eversource S ervice sponsored two defined benefit retirement plans that covered eligible employees, including employees of CL&P, NSTAR Electric, PSNH and WMECO . Effective January 1, 2015, the two pension plans were merg ed into one plan, sponsored by E versource S ervice . As of December 31, 2014, Eversource Se rvice also sponsored defined benefit postretirement plans that provide certain retiree benefits, primarily medical, dental and life insurance, to retiring employees that meet certain age and service eligibility requirements , including employees of CL&P, NSTAR Electric, PSNH and WMECO . Effective January 1, 2015, the postretirement plans were merged into one plan, sponsored by E versource S ervice . The components of net periodic benefit expense for the Pension, SERP and PBOP Plans are shown below. The net periodic benefit expense and the intercompany allocations less the capitalized portion of pension , SERP and PBOP amounts is included in Operations and Maintenance on the statements of income. Capitalized pension and PBOP amounts relate to employees working on capital projects and are included in Property, Plant and Equipment, Net. Intercompany allocations are not included in the CL&P, NSTAR Electric, PSNH and WMECO net periodic benefit expense amounts. Pension, SERP and PBOP expense reflected in the statements of cash flows for CL&P, NSTAR Electric, PSNH and WMECO does not include the intercompany allocations and the corresponding capitalized portion, as these amounts are cash settled on a short-term basis. Pension and SERP Pension and SERP Eversource For the Three Months Ended For the Six Months Ended (Millions of Dollars) June 30, 2015 (1) June 30, 2014 June 30, 2015 (1) June 30, 2014 Service Cost $ 22.8 $ 19.1 $ 45.9 $ 41.5 Interest Cost 56.9 56.3 113.3 113.0 Expected Return on Plan Assets (83.9) (77.7) (168.2) (155.4) Actuarial Loss 36.5 31.7 75.5 64.7 Prior Service Cost 0.9 1.1 1.8 2.1 Total Net Periodic Benefit Expense $ 33.2 $ 30.5 $ 68.3 $ 65.9 Capitalized Pension Expense $ 9.8 $ 8.7 $ 21.1 $ 18.4 PBOP PBOP Eversource For the Three Months Ended For the Six Months Ended (Millions of Dollars) June 30, 2015 (1) June 30, 2014 June 30, 2015 (1) June 30, 2014 Service Cost $ 3.9 $ 3.2 $ 8.1 $ 6.3 Interest Cost 11.7 12.1 23.6 24.7 Expected Return on Plan Assets (16.9) (15.8) (33.7) (31.6) Actuarial Loss 1.7 3.0 3.4 6.0 Prior Service Credit (0.2) (0.7) (0.2) (1.4) Total Net Periodic Benefit Expense $ 0.2 $ 1.8 $ 1.2 $ 4.0 Capitalized PBOP Expense/(Income) $ (0.1) $ 0.4 $ - $ 0.8 Pension and SERP For the Three Months Ended June 30, 2015 For the Three Months Ended June 30, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH (1) WMECO CL&P Electric PSNH WMECO Service Cost $ 6.2 $ 3.7 $ 3.1 $ 1.0 $ 5.0 $ 3.0 $ 2.3 $ 0.8 Interest Cost 12.9 10.0 6.1 2.6 12.4 10.3 5.8 2.5 Expected Return on Plan Assets (19.8) (17.5) (10.1) (4.7) (18.7) (15.7) (9.3) (4.4) Actuarial Loss 8.0 8.7 2.9 1.6 8.2 5.9 2.8 1.7 Prior Service Cost 0.4 - 0.1 0.1 0.5 - 0.1 0.1 Total Net Periodic Benefit Expense $ 7.7 $ 4.9 $ 2.1 $ 0.6 $ 7.4 $ 3.5 $ 1.7 $ 0.7 Intercompany Allocations $ 5.8 $ 3.4 $ 1.6 $ 1.1 $ 7.5 $ 1.4 $ 2.1 $ 1.4 Capitalized Pension Expense $ 4.7 $ 2.7 $ 0.9 $ 0.5 $ 4.4 $ 1.0 $ 0.8 $ 0.6 Pension and SERP For the Six Months Ended June 30, 2015 For the Six Months Ended June 30, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH (1) WMECO CL&P Electric PSNH WMECO Service Cost $ 12.2 $ 7.5 $ 6.0 $ 2.2 $ 10.2 $ 7.6 $ 5.1 $ 1.9 Interest Cost 25.4 20.1 12.1 5.2 25.7 20.6 12.3 5.2 Expected Return on Plan Assets (39.4) (35.1) (20.2) (9.4) (38.0) (31.5) (19.5) (9.0) Actuarial Loss 16.2 18.4 5.8 3.2 17.3 11.7 6.0 3.5 Prior Service Cost 0.8 - 0.2 0.1 0.9 - 0.3 0.2 Total Net Periodic Benefit Expense $ 15.2 $ 10.9 $ 3.9 $ 1.3 $ 16.1 $ 8.4 $ 4.2 $ 1.8 Intercompany Allocations $ 12.2 $ 6.9 $ 3.4 $ 2.3 $ 14.3 $ 3.8 $ 4.2 $ 2.7 Capitalized Pension Expense $ 9.4 $ 5.9 $ 1.7 $ 1.0 $ 9.3 $ 2.9 $ 1.7 $ 1.4 PBOP For the Three Months Ended June 30, 2015 For the Three Months Ended June 30, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH (1) WMECO CL&P Electric PSNH WMECO Service Cost $ 0.5 $ 1.3 $ 0.3 $ 0.1 $ 0.5 $ 0.8 $ 0.3 $ 0.1 Interest Cost 1.8 4.7 1.0 0.3 1.9 4.8 1.0 0.4 Expected Return on Plan Assets (2.8) (6.9) (1.5) (0.6) (2.5) (6.5) (1.3) (0.6) Actuarial Loss/(Gain) 0.2 0.4 0.1 - 1.0 (0.2) 0.6 0.1 Prior Service Credit - (0.1) - - - (0.5) - - Total Net Periodic Benefit Expense/(Income) $ (0.3) $ (0.6) $ (0.1) $ (0.2) $ 0.9 $ (1.6) $ 0.6 $ - Intercompany Allocations $ 0.4 $ 0.2 $ 0.1 $ 0.1 $ 1.1 $ - $ 0.3 $ 0.2 Capitalized PBOP Expense/(Income) $ (0.1) $ (0.2) $ - $ - $ 0.5 $ (0.5) $ 0.2 $ - PBOP For the Six Months Ended June 30, 2015 For the Six Months Ended June 30, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH (1) WMECO CL&P Electric PSNH WMECO Service Cost $ 1.1 $ 2.7 $ 0.7 $ 0.2 $ 1.1 $ 1.6 $ 0.7 $ 0.2 Interest Cost 3.5 9.5 1.9 0.8 4.0 9.7 2.1 0.8 Expected Return on Plan Assets (5.5) (13.7) (3.0) (1.3) (5.2) (13.0) (2.7) (1.1) Actuarial Loss/(Gain) 0.3 1.2 0.3 - 2.1 (0.3) 1.1 0.2 Prior Service Credit - (0.1) - - - (0.9) - - Total Net Periodic Benefit Expense/(Income) $ (0.6) $ (0.4) $ (0.1) $ (0.3) $ 2.0 $ (2.9) $ 1.2 $ 0.1 Intercompany Allocations $ 0.9 $ 0.4 $ 0.2 $ 0.2 $ 2.2 $ 0.1 $ 0.6 $ 0.4 Capitalized PBOP Expense/(Income) $ (0.1) $ (0.1) $ 0.1 $ (0.1) $ 1.0 $ (1.0) $ 0.4 $ 0.1 (1) Amounts exclude approximately $0.8 million and $1.6 million for the three and six months ended June 30, 2015, respectively, that represented amounts included in other deferred debits. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 8 . COMMITMENTS AND CONTINGENCIES A. Environmental Matters General: E versource , CL&P, NSTAR Electric, PSNH and WMECO are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or the remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current and former operating sites. E versource , CL&P, NSTAR Electric , PSNH and WMECO have an active environmental auditing and training program and believe that they are substantially in compliance with all enacted laws and regulations. The number of environmental sites and reserves related to these sites for which remediation or long-term monitoring, preliminary site work or site assessment are being performed are as follows : As of June 30, 2015 As of December 31, 2014 Reserve Reserve Number of Sites (in millions) Number of Sites (in millions) Eversource 65 $ 46.2 65 $ 43.3 CL&P 15 4.9 16 3.8 NSTAR Electric 14 2.3 13 1.1 PSNH 12 3.4 13 5.2 WMECO 4 0.6 4 0.5 Included in the Eversource number of sites and reserve amounts above are former MGP sites that were operated several decades ago and manufactured gas from coal and other processes, which resulted in certain by-products remaining in the environment that may pose a potential risk to human health and the environment. The reserve balance related to these former MGP sites was $ 40 mi llion and $ 38.8 million as of June 30 , 2015 and December 31, 201 4 , respectively, and relates primarily to the natural gas business segment. These estimates are subjective in nature as they take into consideration several different remediation options at each specific site. The reliability and precision of these estimates can be affected by several factors, including new information concerning either the level of contamination at the site, the extent of Eversource, CL&P, NSTAR Electric, PSNH, or WMECO's responsibility or the extent of remediation required, recently enacted laws and regulations or a change in the estimates due to certain economic factors. B . Guarantees and Indemnifications E versource parent provides credit assurances on behalf of its subsidiaries, including CL&P, NSTAR Electric, PSNH and WMECO, in the form of guarantees in the normal course of business. E versource parent also issued a guaranty on behalf of its subsidiary, NPT, under which, beginning at the time the Northern Pass Transmission line goes into commercial operation, E versource parent will guarantee the financial obligations of NPT under the TSA in an amount not to exceed $25 million. E versource parent 's obligations under the guaranty expire upon the full, final and indefeasible payment of the guaranteed obligations. Eversource p arent has provided a guar anty of various indemnification and other obligations as a result of the April 13 , 2015 sale of substantially all of the assets of E.S. Boulos Company, an unregulated electrical contractor based in Maine and indirect subsidiary of Eversource Energy . E versource parent has also guarantee d certain indemnification and other obligations as a result of the sale s of former unregulated subsidiar ies and the termination of an unregulated business , with maximum exposure s either not specified or not material. Management does not a ntic ipate a material impact to Net Income as a result of these various guarantees and indemnifications. T he following table summarizes E versource parent 's guarantees of its subsidiaries, including CL&P, NSTAR Electric, PSNH and WMECO, Maximum Exposure Company Description (in millions) Expiration Dates On behalf of subsidiaries: Various Surety Bonds (1) $ 33.8 2015 - 2016 Eversource Service and Rocky River Realty Company Lease Payments for Vehicles and Real Estate $ 12.7 2019 and 2024 On behalf of external parties: Purchaser of E.S. Boulos Company and a bonding company E.S. Boulos Company Indemnification $ 42.1 2016 and 2020 (1) Surety bo nd expiration dates reflect termination dates, the majority of which will be renewed or extended. C ertain surety bonds contain credit rating s triggers that would require Eversource parent to post collateral in the event that the unsecured debt credit ratings of Eversource are downgraded . C . FERC ROE Complaints T hree separate complaints have been filed at FERC by combinations of New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (the "Complainants"). In the first complaint, filed in 2011, the Complainants alleged that the NETOs' base ROE of 11.14 percent that had been utilized since 2006 was unjust and unreasonable, asserted that the rate was excessive due to changes in the capital markets, and sought an order to reduce it prospectively from the date of the final FERC order and for the 15-month period beginning October 1, 2011 to December 31, 2012 (the "first complaint refund period"). In the second and third complaints, filed in 2012 and 2014, the Complainants challenged the NETOs' base ROE and sought refunds for the 15-month periods beginning December 27, 2012 and July 31, 2014. In 2014, the FERC determined that the base ROE should be set at 10.57 percent for the first complaint refund period and that a utility's total or maximum ROE should not exceed the top of the new zone of reasonableness, which was set at 11.74 percent. The FERC ordered the NETOs to provide refunds to customers for the first complaint refund period and set the new base ROE of 10.57 percent prospectively from October 16, 2014. The NETOs and the Complainants sought rehearing from FERC. In late 2014, the NETOs made a compliance filing, which was challenged by the Complainants, and the Company began refunding amounts from the first complaint period. On March 3, 2015, FERC issued an order denying all issues raised on rehearing by the NETOs and Co mplainants in the first complaint. The FERC order upheld the base ROE of 10.57 percent for the first complaint refund period and prospectively from October 16, 2014, and upheld that the utility's total ROE (the base ROE plus any incentive adders) for the transmission assets to which the adder applies is capped at the top of the zone of reasonableness, which is currently set at 11.74 percent . As a result of the clarifying information in the March 2015 order related to the application of the ROE cap, Eversource adjusted its reserve in the first half of 2015 and recognized a pre-tax charge to earnings (excluding interest) of $ 20 million, of which $ 12.5 million was recorded at CL&P, $ 2.4 million at NSTAR Electric, $ 1 million at PSNH, and $ 4.1 million at WMECO. The pre-tax charge was recorded as a regulatory liability and as a reduction to Operating Revenues. The NETOs and Complainants have filed appeals to the D.C. Circuit Court of Appeals, which have been consolidated, and no schedule has been set. For the second and third complaint proceedings, hearings were held in late June and early July 2015 before a FERC ALJ and initial briefs were filed on July 29, 2015. The state parties, municipal utilities and FERC trial staff each believe that the base ROE should be reduced . T he NETOs believe that the Complainants' positions are without merit, and the existing ROEs should be maintained. The FERC ALJ's initial decision is expected by December 30, 2015, and a final FERC order is expected in the third quarter of 2016. D . Basic Service Bad Debt Adder On January 7, 2015, the DPU issued an order concluding that NSTAR Electric had removed energy-related bad debt costs from base distribution rates effective January 1, 2006. The DPU ordered NSTAR Electric and the Massachusetts Attorney General to collaborate on the reconciliations of energy-related bad debt costs through 2014. As a result of the DPU order, NSTAR Electric increased its regulatory assets and reduced operations and maintenance expense by $24.2 million in the first quarter, resulting in after-tax earnings of $14.5 million. On May 5, 2015, NSTAR Electric filed for recovery of the energy-related bad debt costs regulatory asset from customers beginning July 1, 2015. On June 24, 2015, the DPU delayed the effective date of NSTAR Electric's proposed rate increase from July 1, 2015 to November 1, 2015 to allow for the DPU staff to review the reconciliations. The established procedural schedule is expected to result in an approval of the proposed rate increase in the fourth quarter of 2015. E . PSNH Generation Restructuring On June 10, 2015, Eversource and PSNH entered into the 2015 Public Service Company of New Hampshire Restructuring and Rate Stabilization Agreement (the Agreement) with the New Hampshire Office of Energy and Planning, certain members of the Staff of the NHPUC, the Office of Consumer Advocate, two State Senators, and several other parties. The Agreement was filed with the NHPUC on the same day. Under the terms of the Agreement, PSNH has agreed to pursue the divestiture of its generation assets upon NHPUC approval. The Agreement is designed to provide a resolution of issues pertaining to PSNH's generation assets in pending regulatory proceedings before the NHPUC. When implemented, the Agreement provides for the Clean Air Project prudence proceeding to be resolved and all remaining Clean Air Project costs to be included in rates effective January 1, 2016. As part of the Agreement, PSNH has agreed to forego recovery of $25 million of the deferred equity return related to the Clean Air Project. In addition, PSNH will not seek a general distribution rate increase effective before July 1, 2017 and will contribute $5 million to create a clean energy fund, which will not be recoverable from its customers. In the second quarter of 2015, PSNH recorded the $5 million contribution as a long-term liability and an increase to Operations and Maintenance expense on the statements of income. Upon completion of the divestiture process, all remaining stranded costs, including any remaining deferred equity return in excess of the $25 million that PSNH has agreed to forego, will be recovered via bonds that will be secured by a non- bypassable charge in rates billed to PSNH's customers. Implementation of the Agreement is subject to NHPUC approval, which is expected in late 2015. |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Fair Value Disclosures [Text Block] | 9 . FAIR VALUE OF FINANCIAL INSTRUMENTS The following methods and assumptions were used to estimate the fair value of each of the following financial instruments: Preferred Stock and Long-Term Debt: The fair value of CL& P's and NSTAR Electric' s preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow project ions. The fair value of long-term debt securities is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields. The fair values provided in the tables below are classified as Level 2 within the fair value hierarchy . Carrying amounts and estimated fair values are as follows : As of June 30, 2015 As of December 31, 2014 Eversource Carrying Fair Carrying Fair (Millions of Dollars) Amount Value Amount Value Preferred Stock Not Subject to Mandatory Redemption $ 155.6 $ 154.8 $ 155.6 $ 153.6 Long-Term Debt 8,968.5 9,329.9 8,851.6 9,451.2 As of June 30, 2015 CL&P NSTAR Electric PSNH WMECO Carrying Fair Carrying Fair Carrying Fair Carrying Fair (Millions of Dollars) Amount Value Amount Value Amount Value Amount Value Preferred Stock Not Subject to Mandatory Redemption $ 116.2 $ 113.0 $ 43.0 $ 41.8 $ - $ - $ - $ - Long-Term Debt 2,975.1 3,242.9 1,792.7 1,916.6 1,076.3 1,133.0 628.0 658.0 As of December 31, 2014 CL&P NSTAR Electric PSNH WMECO Carrying Fair Carrying Fair Carrying Fair Carrying Fair (Millions of Dollars) Amount Value Amount Value Amount Value Amount Value Preferred Stock Not Subject to Mandatory Redemption $ 116.2 $ 112.0 $ 43.0 $ 41.6 $ - $ - $ - $ - Long-Term Debt 2,842.0 3,214.5 1,797.4 1,993.5 1,076.3 1,137.9 628.5 689.4 Derivative Instruments: D erivative instruments are carried at fair value. For further information, see Note 4 , "Derivative Instruments," to the financial statements. Other Financial Instruments: Investments in marketable secur ities are carried at fair value. For further information, see Note 5 , "Marketable Securities," to the financial statements. The carrying value of other financial instruments included in current assets and current liabilities, including cash and cash equivalents and special deposits, approximates their fair value due to the short-term nature of these instruments . See Note 1D, "Summary of Significant Accounting Policies - Fair Value Measurements," for the fair value measurement policy and the fair value hierarchy . |
ACCUMULATED OTHER COMPREHENSIVE
ACCUMULATED OTHER COMPREHENSIVE INCOME | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Comprehensive Income Note [Text Block] | 10. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The change s in accumulated other comprehensive income /( loss) by component , net of tax, is as follows : For the Six Months Ended June 30, 2015 For the Six Months Ended June 30, 2014 Qualified Unrealized Qualified Unrealized Cash Flow Gains/(Losses) Defined Cash Flow Gains on Defined Eversource Hedging on Marketable Benefit Hedging Marketable Benefit (Millions of Dollars) Instruments Securities Plans Total Instruments Securities Plans Total Balance as of Beginning of Period $ (12.4) $ 0.7 $ (62.3) $ (74.0) $ (14.4) $ 0.4 $ (32.0) $ (46.0) OCI Before Reclassifications - (1.1) (0.4) (1.5) - 0.5 1.2 1.7 Amounts Reclassified from AOCI 1.0 - 2.5 3.5 1.0 - 1.8 2.8 Net OCI 1.0 (1.1) 2.1 2.0 1.0 0.5 3.0 4.5 Balance as of End of Period $ (11.4) $ (0.4) $ (60.2) $ (72.0) $ (13.4) $ 0.9 $ (29.0) $ (41.5) E versource 's qualified cash flow hedging instruments represent interest rate swap agreements on debt issuances that were settled in prior years. The settlement amount was recorded in AOCI and is being amortized into Net Income over the term of the underlying debt instrument. CL&P, PSNH and WMECO continue to amortize interest rate swaps settled in prior years from AOCI into Interest Expense over the remaining life of the associated long-term debt, which are not material to their respective financial statements. The amortization expense of actuarial gains and losses on the defined benefit plans is amortized from AOCI into Operations and Maintenance over the average future employee s ervice period, and is reflected in amounts reclassified from AOCI. The related tax effects of the reclassification adjustments are not material to the financial statements for the six months ended June 30 , 2015 and 2014. |
COMMON SHARES
COMMON SHARES | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule of Stock by Class [Text Block] | 11 . COMMON SHARES The following table sets fo rth the E ve r s ource parent common shares and the shares of common stock of CL&P, NSTAR Electric , PSNH and WMECO that were authorized and issued and the respective per share par values : Shares Authorized as of Per Share June 30, 2015 and Issued as of Par Value December 31, 2014 June 30, 2015 December 31, 2014 Eversource $ 5 380,000,000 333,833,308 333,359,172 CL&P $ 10 24,500,000 6,035,205 6,035,205 NSTAR Electric $ 1 100,000,000 100 100 PSNH $ 1 100,000,000 301 301 WMECO $ 25 1,072,471 434,653 434,653 As of June 30 , 2015 and December 31, 2014 , there were 16,671,366 and 16,375,835 E versource common shares held as treasury shares, respectively. As of June 30 , 2015 and December 31, 2014 , Eversource common sha res outstanding were 317,161,942 and 316 , 983 , 337 , respectively. In May 2015, the Company repurchased 532,521 treasury shares at a share price of $47.94. |
COMMON SHARESHOLDERS' EQUITY AN
COMMON SHARESHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (NU) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | 12 . COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS D ividends on the preferred stock of CL&P and NSTAR Electric totaled $1.9 million f or the three months ended June 30 , 2015 and 2014 and $3.8 million for the six months ended June 30, 2015 and 2014. These dividends w ere presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Common Shareholders' Equity was fully attributable to the parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest on the Eversource balance sheets. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Earnings Per Share [Text Block] | 13 . EARNINGS PER SHARE Basic EPS is computed based upon the weighted average number of common shares outstanding during each period. Diluted EPS is compu ted on the basis of the weighted average number of common shares outstanding plus the potential dilut ive effect of certain share-based compensation awards as if they were converted into common shares . For the three and six months ended June 30 , 2015 and 2014, t here were no antidilutive share awards excluded from the computation . The following table sets forth the components of basic and diluted EPS: Eversource For the Three Months Ended For the Six Months Ended (Millions of Dollars, except share information) June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net Income Attributable to Controlling Interest $ 207.5 $ 127.4 $ 460.8 $ 363.3 Weighted Average Common Shares Outstanding: Basic 317,613,166 315,950,510 317,352,004 315,742,511 Dilutive Effect 946,402 1,162,291 1,173,374 1,259,950 Diluted 318,559,568 317,112,801 318,525,378 317,002,461 Basic and Diluted EPS $ 0.65 $ 0.40 $ 1.45 $ 1.15 RSUs and performance shares are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied. The dilutive effect of unvested RSUs and performance shares is calculated using the treasury stock method. Assumed proceeds of the se units under the treasury stock method consist of the remaining compensation cost to be recognized and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the units (the difference between the market value of the average units outstanding for the period, using the average market price during the period, and the grant date market value). The dilutive effect of stock options to purchase common shares is also calculated using the treasury stock method. Assumed proceeds for stock options consist of cash proceeds that would be received upon exercise, and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the stock options (the difference between the market value of the average stock options outstanding for the period, using the average market price during the period, and the exercise price). |
SEGMENT INFORMATION
SEGMENT INFORMATION | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Segment Reporting Disclosure [Text Block] | 14 . SEGMENT INFORMATION Presentation: Eversource is organized between the Electric Distribution, Electric Transmission and Natural Gas Distribution reportable segments and Other based on a combination of factors, including the characteristics of each segments ' products and services, the sources of operating revenues and expenses and the regulatory environment i n which each segment operates. These reportable segments rep resent substantially all of Eversource 's total consolidated revenues. Revenues from the sale of electricity and natural gas primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer. The Electric Distribution reportable segment includes the generation activities of PSNH and WMECO. The remainder of Eversource ' s operations is presented as Other in the tables below and primarily consists of 1) the equity in earnings of E versource parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest e xpense related to the debt of Eversource parent, 2) the revenues and ex penses of Eversource Service , most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, and 4 ) the results of other un regulated subsidiaries, which are not part of its core business. Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred but not paid, cost of removal, AFU DC related to equity funds, and the capitalized portions of pension e xpense. Eversource 's reportable segments are determined based upon the level at which Eversource 's chief operating decision maker assesses performance and makes decisions about the allocation o f company resources. Each of Eversource 's subsidiaries, including CL&P, NSTAR Electric, PSNH and WMECO, has one reportable segment. Eversource 's operating segments and reporting units are consistent with its reportable business segments . Eversource 's segment information is as follows : For the Three Months Ended June 30, 2015 Eversource Electric Natural Gas Electric (Millions of Dollars) Distribution Distribution Transmission Other Eliminations Total Operating Revenues $ 1,382.7 $ 186.0 $ 267.8 $ 203.7 $ (223.1) $ 1,817.1 Depreciation and Amortization (98.5) (17.7) (39.7) (7.1) 0.5 (162.5) Other Operating Expenses (1,052.1) (150.2) (73.1) (190.7) 223.5 (1,242.6) Operating Income 232.1 18.1 155.0 5.9 0.9 412.0 Interest Expense (45.6) (9.1) (26.3) (12.4) 1.1 (92.3) Other Income, Net 5.5 0.3 5.1 220.1 (218.1) 12.9 Net Income Attributable to Controlling Interest $ 120.9 $ 5.3 $ 80.4 $ 217.0 $ (216.1) $ 207.5 For the Six Months Ended June 30, 2015 Eversource Electric Natural Gas Electric (Millions of Dollars) Distribution Distribution Transmission Other Eliminations Total Operating Revenues $ 3,142.8 $ 693.4 $ 516.8 $ 443.7 $ (466.2) $ 4,330.5 Depreciation and Amortization (257.6) (35.9) (80.1) (14.3) 1.0 (386.9) Other Operating Expenses (2,395.0) (538.7) (147.2) (419.9) 466.7 (3,034.1) Operating Income 490.2 118.8 289.5 9.5 1.5 909.5 Interest Expense (93.2) (18.1) (53.9) (24.1) 2.2 (187.1) Other Income, Net 7.6 0.1 8.1 535.0 (532.2) 18.6 Net Income Attributable to Controlling Interest $ 251.4 $ 61.0 $ 147.0 $ 529.9 $ (528.5) $ 460.8 Cash Flows Used for Investments in Plant $ 319.8 $ 67.5 $ 328.7 $ 24.4 $ - $ 740.4 For the Three Months Ended June 30, 2014 Eversource Electric Natural Gas Electric (Millions of Dollars) Distribution Distribution Transmission Other Eliminations Total Operating Revenues $ 1,261.8 $ 195.5 $ 206.9 $ 184.7 $ (171.3) $ 1,677.6 Depreciation and Amortization (89.3) (16.9) (37.0) (7.7) 2.3 (148.6) Other Operating Expenses (991.5) (166.5) (71.0) (174.9) 168.9 (1,235.0) Operating Income 181.0 12.1 98.9 2.1 (0.1) 294.0 Interest Expense (47.2) (8.7) (28.8) (9.1) 1.3 (92.5) Other Income, Net 2.9 - 2.7 137.7 (137.8) 5.5 Net Income Attributable to Controlling Interest $ 83.4 $ 2.0 $ 43.9 $ 133.3 $ (135.2) $ 127.4 For the Six Months Ended June 30, 2014 Eversource Electric Natural Gas Electric (Millions of Dollars) Distribution Distribution Transmission Other Eliminations Total Operating Revenues $ 2,847.8 $ 628.3 $ 458.9 $ 356.9 $ (323.7) $ 3,968.2 Depreciation and Amortization (238.2) (34.6) (74.0) (14.7) 4.1 (357.4) Other Operating Expenses (2,202.4) (487.9) (137.3) (340.3) 318.8 (2,849.1) Operating Income 407.2 105.8 247.6 1.9 (0.8) 761.7 Interest Expense (94.6) (17.1) (54.3) (18.7) 2.2 (182.5) Other Income, Net 4.3 0.1 4.2 432.4 (433.8) 7.2 Net Income Attributable to Controlling Interest $ 195.6 $ 54.1 $ 118.8 $ 424.9 $ (430.1) $ 363.3 Cash Flows Used for Investments in Plant $ 335.6 $ 68.6 $ 289.3 $ 30.5 $ - $ 724.0 The following table summarizes Eversource's segmented total assets: Eversource Electric Natural Gas Electric (Millions of Dollars) Distribution Distribution Transmission Other Eliminations Total As of June 30, 2015 $ 17,872.9 $ 2,933.4 $ 7,589.7 $ 12,455.7 $ (10,971.8) $ 29,879.9 As of December 31, 2014 17,563.4 3,030.9 7,625.6 12,682.5 (11,124.4) 29,778.0 |
SIGNIFCANT ACCOUNTING POLICIES
SIGNIFCANT ACCOUNTING POLICIES (Policies) - Jun. 30, 2015 | Total | Total |
Notes To Consolidated Financial Statements [Abstract] | ||
Organization Consolidation And Presentation Of Financial Statements Disclosure Text Block | A . Basis of Presentation Eversource Energy is a public utility holding company primarily engaged through its wholly owned regulated utility subsidiaries in the energy delivery business. Eversource Energy 's wholly owned regulat ed utility subsidiaries consist of CL&P, NSTAR Electric, PSNH, WMECO, Yankee Gas and NSTAR Gas. Eversource provides energy deliv ery service to approximately 3.6 million electric and natural gas customers through these six regulated utilities in Connecticut, Ma ss achusetts and New Hampshire . On April 30 , 2015, the Company's legal name was changed from Northeast Utilities to Eversource Energy. CL&P, NSTAR Electric, PSNH and WMECO are each doing business as Eversource Energy. The unaudited condensed consolidated financial stateme nts of Eversource , NSTAR Electric and PSNH include the accounts of each o f their respective subsidiaries. Intercompany transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements of Eversource , NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P and WMECO are herein collectively referred to as the "financial statements." The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. The accompanying financial statements should be read in conjunction with the entirety of this combine d Quarterly Report on Form 10 -Q , the first quarter 2015 combine d Quarterly Report on Form 10 -Q and the 2014 combined Annual Report on Form 10 -K of Eversource , CL&P, NSTAR Electric, PS NH and WMECO, which were filed with the SEC. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource 's, CL&P's, NSTAR Electric's, PSNH's and WMECO's financial position as of June 30 , 2015 and December 31, 2014, the results of operations and comprehensive income for the three and six months ended June 30 , 2015 and 2014 , and the cash flows for the six months ended June 30, 2015 and 2014 . The results of operations and comprehensive income for the three and six months ended June 30 , 2015 and 2014 and the cash flows for the six months ended June 30, 2015 and 2014 are not necessarily indicative of the results expected for a full year. Eversource consolidates CYAPC and YAEC because CL&P's, NSTAR Electric's, PSNH's and WMECO's combined ownership interest in each of these entities is greater than 50 percent. Intercompany transactions between CL&P, NSTAR Electric, PSNH and WMECO and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements. Eversource 's utility subsidiaries ' distribution (including generation ) and transmission businesses and NPT are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations , which considers the effect of regulation on the d ifferences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information. Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation . | |
Receivables Policy Text Block | Eversource, including CL&P, NSTAR Electric, PSNH and WMECO, presents its receivables at estimated net realizable value by maintaining a provision for uncollectible accounts. This provision is determined based upon a variety of judgments and factors, including the application of an estimated uncollectible percentage to each receivable aging category. The estimate is based upon historical collection and write-off experience and management's assessment of collectability from customers. Management continuously assesses the collectability of receivables and adjusts collectability estimates based on actual experience. Receivable balances are written off against the provision for uncollectible accounts when the accounts are terminated and these balances are deemed to be uncollectible. | |
Derivatives Offsetting Fair Value Amounts Policy | The gross fair values of derivative assets and liabilities with the same counterparty are offset and reported as net Derivative Assets or Derivative Liabilities, with current and long-term portions, on the balance sheets. | |
Fair Value Of Financial Instruments Policy | Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases or normal sales" (normal) and to the marketable securities held in trusts. Fair value measurement guidanc e is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans and nonrecurring fair value measurements of nonfinancial ass ets such as goodwill and AROs, and is also used to estimate the fair value of preferred stock and long-term debt. Fair Value Hierarchy: In measuring fair value, Eversource uses observabl e market data when available in order to minimize the use of unobservable inputs. Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes. The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement. Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis, and Eversource ' s policy is to recognize transfers between levels of the fair value hierarchy as of the end of the reporting period. The three levels of the fair value hierarchy are described below: Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable. Level 3 - Quoted market prices are not available. Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable. Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products. The following methods and assumptions were used to estimate the fair value of each of the following financial instruments: Preferred Stock and Long-Term Debt: The fair value of CL& P's and NSTAR Electric' s preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow project ions. The fair value of long-term debt securities is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields. The fair values provided in the tables below are classified as Level 2 within the fair value hierarchy . | Derivative contracts classified as Level 2 in the fair value hierarchy relate to the financial contracts for natural gas futures. Prices are obtained from broker quotes and are based on actual market activity. The contracts are valued using NYMEX natural gas prices . Valuations of these contracts also incorporate discount rates using the yield curve approach. The fair value of derivative contracts classified as Level 3 utilizes significant unobservable inputs. The fair value is modeled using income techniques, such as discounted cash flow valuations adjusted for assumptions relating to exit price. Significant observable inputs for valuations of these contracts include energy and energy-related product prices in future years for which quoted prices in an active market exist. Fair value measurements categorized in Level 3 of the fair value hierarchy are prepared by individuals with expertise in valuation techniques, pricing of energy and energy-related products, and accounting requirements. The future power and capacity prices for periods that are not quoted in an active market or established at auction are based on available market data and are escalated based on estimates of inflation to address the full time period of the contract. Valuations of derivative contracts using a discounted cash flow methodology include assumptions regarding the timing and likelihood of scheduled payments and also reflect non-performance risk, including credit, using the default probability approach based on the counterparty ' s credit rating for assets and the Company ' s credit rating for liabilities. Valuations incorporate estimates of premiums or discounts that would be required by a market participant to arrive at an exit price, using historical market transactions adjusted for the terms of the contract. |
Other Taxes Policy | Gross receipts taxes levied by the state of Connecticut are collected by CL&P and Yankee Gas from their respective customers. These gross receipts taxes are shown separately with collections in Operating Revenues and payments in Taxes Other Than Income Taxes on the statements of income Certain sales taxes are collected by Eversource's companies that serve customers in Connecticut and Massachusetts as agents for state and local governments and are recorded on a net basis with no impact on the statements of income. | |
Public Utilities Policy Text Block | Eversource's Regulated companies are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for rate-regulated operations , which consider the effect of regulation o n the timing of the recognition of certain revenues and expenses . The Regulated companies' financial statements reflect the effects of the rate-making process. The ra tes charged to the customers of Eversource 's Regulated companies are designed to collect each company's costs to provide service, including a return on investment. Management believes it is probable that each of the Regulated companies will recover their respective investments in long-lived assets, including regulatory assets. If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises to any of the Regulated companies' operations, or that management could not conclude it is probable that costs would be recovered from customers in future rates, the costs would be charged to net income in the period in which the determination is made. | |
Derivatives Policy Text Block | Many of the derivative contracts meet the definition of, and are designated as, normal and qualify for accrual accounting under the applicable accounting guidance. The costs and benefits of derivative contracts that meet the definition of normal are recognized in Operating Expenses or Operating Revenues on the statements of income, as applicable, as electricity or natural gas is delivered. Derivative contracts that are not designated as normal are recorded at fair value as current or long-term Derivative Assets or Derivative Liabilities on the balance sheets. For the Regulated companies, regulatory assets or regulatory liabilities are recorded to offset the fair values of derivatives, as contract settlement amount s are recovered from, or refunded to, customers in their respective energy supply rates. | |
Marketable Securities Policy | U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates. Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instrument and also incorporating yield curves, credit spreads and specific bond terms and conditions. Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables. Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates, and tranche information. Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields. Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows. | |
Environmental Costs Policy | Environmental Matters General: E versource , CL&P, NSTAR Electric, PSNH and WMECO are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or the remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current and former operating sites. E versource , CL&P, NSTAR Electric , PSNH and WMECO have an active environmental auditing and training program and believe that they are substantially in compliance with all enacted laws and regulations. | |
Earnings Per Share Policy Text Block | Basic EPS is computed based upon the weighted average number of common shares outstanding during each period. Diluted EPS is compu ted on the basis of the weighted average number of common shares outstanding plus the potential dilut ive effect of certain share-based compensation awards as if they were converted into common shares . RSUs and performance shares are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied. The dilutive effect of unvested RSUs and performance shares is calculated using the treasury stock method. Assumed proceeds of the se units under the treasury stock method consist of the remaining compensation cost to be recognized and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the units (the difference between the market value of the average units outstanding for the period, using the average market price during the period, and the grant date market value). The dilutive effect of stock options to purchase common shares is also calculated using the treasury stock method. Assumed proceeds for stock options consist of cash proceeds that would be received upon exercise, and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the stock options (the difference between the market value of the average stock options outstanding for the period, using the average market price during the period, and the exercise price). | |
Segment Reporting Policy Policy Text Block | SEGMENT INFORMATION Presentation: Eversource is organized between the Electric Distribution, Electric Transmission and Natural Gas Distribution reportable segments and Other based on a combination of factors, including the characteristics of each segments ' products and services, the sources of operating revenues and expenses and the regulatory environment i n which each segment operates. These reportable segments rep resent substantially all of Eversource 's total consolidated revenues. Revenues from the sale of electricity and natural gas primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer. The Electric Distribution reportable segment includes the generation activities of PSNH and WMECO. The remainder of Eversource ' s operations is presented as Other in the tables below and primarily consists of 1) the equity in earnings of E versource parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest e xpense related to the debt of Eversource parent, 2) the revenues and ex penses of Eversource Service , most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, and 4 ) the results of other un regulated subsidiaries, which are not part of its core business. Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred but not paid, cost of removal, AFU DC related to equity funds, and the capitalized portions of pension e xpense. |
Provision for Uncollectible Acc
Provision for Uncollectible Accounts (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | Total Provision for Uncollectible Accounts Uncollectible Hardship (Millions of Dollars) As of June 30, 2015 As of December 31, 2014 As of June 30, 2015 As of December 31, 2014 Eversource $ 209.8 $ 175.3 $ 106.2 $ 91.5 CL&P 100.5 84.3 84.7 74.0 NSTAR Electric 46.3 40.7 - - PSNH 9.5 7.7 - - WMECO 12.1 9.9 7.2 6.2 |
Other Taxes (Tables)
Other Taxes (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
State Of Connecticut Gross Earnings Taxes [Table Text Block] | For the Three Months Ended For the Six Months Ended (Millions of Dollars) June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Eversource $ 33.2 $ 35.2 $ 75.1 $ 79.6 CL&P 29.5 30.9 62.5 66.5 |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | G. Supplemental Cash Flow Information Non-cash investing activities include plant additions included in Accounts Payable as follows: (Millions of Dollars) As of June 30, 2015 As of June 30, 2014 Eversource $ 142.3 $ 125.5 CL&P 47.2 54.0 NSTAR Electric 29.5 21.6 PSNH 25.6 14.8 WMECO 13.7 9.9 |
REGULATORY ACCOUNTING (Tables)
REGULATORY ACCOUNTING (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule Of Regulatory Assets Text Block | As of June 30, 2015 As of December 31, 2014 (Millions of Dollars) Eversource Eversource Benefit Costs $ 1,980.0 $ 2,016.0 Derivative Liabilities 423.7 425.5 Income Taxes, Net 631.5 635.3 Storm Restoration Costs 484.3 502.8 Goodwill-related 495.1 505.4 Regulatory Tracker Mechanisms 430.7 350.5 Contractual Obligations - Yankee Companies 124.8 123.8 Other Regulatory Assets 156.3 167.3 Total Regulatory Assets 4,726.4 4,726.6 Less: Current Portion 709.7 672.5 Total Long-Term Regulatory Assets $ 4,016.7 $ 4,054.1 As of June 30, 2015 As of December 31, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH WMECO CL&P Electric PSNH WMECO Benefit Costs $ 443.3 $ 496.1 $ 175.1 $ 85.9 $ 445.4 $ 515.9 $ 174.3 $ 85.0 Derivative Liabilities 420.2 2.2 - - 410.9 4.5 - - Income Taxes, Net 438.9 84.0 34.8 30.7 437.7 83.7 38.0 35.5 Storm Restoration Costs 298.4 117.1 41.1 27.7 319.6 103.7 47.7 31.8 Goodwill-related - 425.1 - - - 433.9 - - Regulatory Tracker Mechanisms 44.8 255.0 84.3 36.0 16.1 141.4 103.5 33.0 Other Regulatory Assets 79.6 77.2 35.7 12.7 66.1 94.7 41.3 12.9 Total Regulatory Assets 1,725.2 1,456.7 371.0 193.0 1,695.8 1,377.8 404.8 198.2 Less: Current Portion 263.7 258.5 88.8 54.9 220.3 198.7 111.7 51.9 Total Long-Term Regulatory Assets $ 1,461.5 $ 1,198.2 $ 282.2 $ 138.1 $ 1,475.5 $ 1,179.1 $ 293.1 $ 146.3 |
Schedule Of Regulatory Liabilities Text Block | As of June 30, 2015 As of December 31, 2014 (Millions of Dollars) Eversource Eversource Cost of Removal $ 434.9 $ 439.9 Regulatory Tracker Mechanisms 198.0 192.3 AFUDC - Transmission 66.2 67.1 Other Regulatory Liabilities 20.2 50.8 Total Regulatory Liabilities 719.3 750.1 Less: Current Portion 208.5 235.0 Total Long-Term Regulatory Liabilities $ 510.8 $ 515.1 As of June 30, 2015 As of December 31, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH WMECO CL&P Electric PSNH WMECO Cost of Removal $ 13.5 $ 261.5 $ 49.1 $ 2.8 $ 19.7 $ 258.3 $ 50.3 $ 1.1 Regulatory Tracker Mechanisms 115.6 2.9 4.8 17.0 122.6 20.7 14.2 22.3 AFUDC - Transmission 52.2 5.0 - 9.0 53.6 4.4 - 9.1 Other Regulatory Liabilities 12.5 2.2 2.0 0.9 10.1 28.9 2.9 0.8 Total Regulatory Liabilities 193.8 271.6 55.9 29.7 206.0 312.3 67.4 33.3 Less: Current Portion 122.6 5.0 5.6 16.8 124.7 49.6 16.0 22.5 Total Long-Term Regulatory Liabilities $ 71.2 $ 266.6 $ 50.3 $ 12.9 $ 81.3 $ 262.7 $ 51.4 $ 10.8 |
PROPERTY, PLANT AND ACCUMULAT25
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule of Public Utility Property, Plant, and Equipment [Text Block] | As of June 30, 2015 As of December 31, 2014 (Millions of Dollars) Eversource Eversource Distribution - Electric $ 12,701.6 $ 12,495.2 Distribution - Natural Gas 2,625.9 2,595.4 Transmission 7,196.3 6,930.7 Generation 1,175.9 1,170.9 Electric and Natural Gas Utility 23,699.7 23,192.2 Other (1) 547.5 551.3 Property, Plant and Equipment, Gross 24,247.2 23,743.5 Less: Accumulated Depreciation Electric and Natural Gas Utility (5,950.4) (5,777.8) Other (238.4) (231.8) Total Accumulated Depreciation (6,188.8) (6,009.6) Property, Plant and Equipment, Net 18,058.4 17,733.9 Construction Work in Progress 1,020.8 913.1 Total Property, Plant and Equipment, Net $ 19,079.2 $ 18,647.0 As of June 30, 2015 As of December 31, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH WMECO CL&P Electric PSNH WMECO Distribution $ 5,245.3 $ 4,954.7 $ 1,744.8 $ 796.8 $ 5,158.8 $ 4,895.5 $ 1,696.7 $ 784.2 Transmission 3,455.5 1,965.2 821.2 906.4 3,274.0 1,928.5 789.7 891.0 Generation - - 1,141.5 34.4 - - 1,136.5 34.4 Property, Plant and Equipment, Gross 8,700.8 6,919.9 3,707.5 1,737.6 8,432.8 6,824.0 3,622.9 1,709.6 Less: Accumulated Depreciation (1,975.9) (1,824.9) (1,127.6) (309.2) (1,928.0) (1,761.4) (1,090.0) (297.4) Property, Plant and Equipment, Net 6,724.9 5,095.0 2,579.9 1,428.4 6,504.8 5,062.6 2,532.9 1,412.2 Construction Work in Progress 209.7 356.7 135.0 79.8 304.9 272.8 102.9 49.1 Total Property, Plant and Equipment, Net $ 6,934.6 $ 5,451.7 $ 2,714.9 $ 1,508.2 $ 6,809.7 $ 5,335.4 $ 2,635.8 $ 1,461.3 |
DERIVATIVE INSTRUMENTS (Tables)
DERIVATIVE INSTRUMENTS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value Text Block | As of June 30, 2015 As of December 31, 2014 Commodity Supply Net Amount Commodity Supply Net Amount and Price Risk Recorded as and Price Risk Recorded as (Millions of Dollars) Management Netting (1) a Derivative Management Netting (1) a Derivative Current Derivative Assets: Level 3: Eversource $ 16.5 $ (10.4) $ 6.1 $ 16.2 $ (6.6) $ 9.6 CL&P 16.5 (10.4) 6.1 16.1 (6.6) 9.5 NSTAR Electric - - - 0.1 - 0.1 Long-Term Derivative Assets: Level 3: Eversource $ 69.1 $ (23.9) $ 45.2 $ 93.5 $ (19.2) $ 74.3 CL&P 68.7 (23.9) 44.8 93.5 (19.2) 74.3 NSTAR Electric 0.4 - 0.4 - - - Current Derivative Liabilities: Level 2: Eversource $ (1.5) $ 0.2 $ (1.3) $ (9.8) $ - $ (9.8) Level 3: Eversource (92.7) - (92.7) (90.0) - (90.0) CL&P (90.9) - (90.9) (88.5) - (88.5) NSTAR Electric (1.8) - (1.8) (1.5) - (1.5) Long-Term Derivative Liabilities: Level 2: Eversource $ - $ - $ - $ (0.3) $ - $ (0.3) Level 3: Eversource (381.0) - (381.0) (409.3) - (409.3) CL&P (380.2) - (380.2) (406.2) - (406.2) NSTAR Electric (0.8) - (0.8) (3.1) - (3.1) |
Rollforward Of Net Derivative Asset Liabilities Valued Using Unobservable Inputs [Table Text Block] | For the Three Months Ended June 30, 2015 2014 NSTAR NSTAR (Millions of Dollars) Eversource CL&P Electric Eversource CL&P Electric Derivatives, Net: Fair Value as of Beginning of Period $ (406.8) $ (403.3) $ (3.5) $ (564.3) $ (557.0) $ (7.3) Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets and Liabilities (37.1) (36.8) (0.3) 111.8 112.2 (0.4) Settlements 21.5 19.9 1.6 21.6 20.2 1.4 Fair Value as of End of Period $ (422.4) $ (420.2) $ (2.2) $ (430.9) $ (424.6) $ (6.3) For the Six Months Ended June 30, 2015 2014 NSTAR NSTAR (Millions of Dollars) Eversource CL&P Electric Eversource CL&P Electric Derivatives, Net: Fair Value as of Beginning of Period $ (415.4) $ (410.9) $ (4.5) $ (635.2) $ (630.6) $ (7.3) Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets and Liabilities (49.2) (48.9) (0.3) 161.3 164.5 (0.5) Settlements 42.2 39.6 2.6 43.0 41.5 1.5 Fair Value as of End of Period $ (422.4) $ (420.2) $ (2.2) $ (430.9) $ (424.6) $ (6.3) |
Fairvalueinputsliabilitiesquantitativeinformationtabletextblock | As of June 30, 2015 As of December 31, 2014 Range Period Covered Range Period Covered Energy Prices: Eversource, CL&P $ 45 per MWh 2020 $ 52 per MWh 2020 Capacity Prices: Eversource $ 10.05 - 12.60 per kW-Month 2016 - 2026 $ 5.30 - 12.98 per kW-Month 2016 - 2026 CL&P $ 10.81 - 12.60 per kW-Month 2019 - 2026 $ 11.08 - 12.98 per kW-Month 2018 - 2026 NSTAR Electric $ 10.05 - 10.81 per kW-Month 2016 - 2019 $ 5.30 - 11.10 per kW-Month 2016 - 2019 Forward Reserve: Eversource, CL&P $ 2.40 per kW-Month 2015 - 2024 $ 5.80 - 9.50 per kW-Month 2015 - 2024 REC Prices: Eversource, NSTAR Electric $ 46 - 51 per REC 2015 - 2018 $ 38 - 56 per REC 2015 - 2018 |
MARKETABLE SECURITIES (Tables)
MARKETABLE SECURITIES (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule Of Available For Sale Securities Reconciliation [Table TextBlock] | As of June 30, 2015 As of December 31, 2014 Pre-Tax Pre-Tax Pre-Tax Pre-Tax Amortized Unrealized Unrealized Amortized Unrealized Unrealized (Millions of Dollars) Cost Gains Losses Fair Value Cost Gains Losses Fair Value Eversource Debt Securities (1) $ 315.3 $ 4.9 $ (0.6) $ 319.6 $ 313.0 $ 7.5 $ (0.3) $ 320.2 Equity Securities (1) 216.5 72.9 (1.2) 288.2 160.6 73.3 - 233.9 WMECO Debt Securities (2) 58.3 - - 58.3 58.2 - (0.1) 58.1 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Eversource WMECO Amortized Amortized (Millions of Dollars) Cost Fair Value Cost Fair Value Less than one year (1) $ 66.1 $ 66.1 $ 38.4 $ 38.4 One to five years 70.4 70.8 16.2 16.2 Six to ten years 60.1 61.2 0.6 0.6 Greater than ten years 118.7 121.5 3.1 3.1 Total Debt Securities $ 315.3 $ 319.6 $ 58.3 $ 58.3 |
Fair Value Heirarchy [Table Text Block] | Eversource WMECO (Millions of Dollars) As of June 30, 2015 As of December 31, 2014 As of June 30, 2015 As of December 31, 2014 Level 1: Mutual Funds and Equities $ 303.1 $ 319.0 $ - $ - Money Market Funds 26.4 24.9 2.1 4.3 Total Level 1 $ 329.5 $ 343.9 $ 2.1 $ 4.3 Level 2: U.S. Government Issued Debt Securities (Agency and Treasury) $ 38.6 $ 51.3 $ - $ - Corporate Debt Securities 60.1 49.1 13.6 14.7 Asset-Backed Debt Securities 32.0 54.1 10.0 14.5 Municipal Bonds 126.9 116.3 10.8 13.0 Other Fixed Income Securities 35.6 24.5 21.8 11.6 Total Level 2 $ 293.2 $ 295.3 $ 56.2 $ 53.8 Total Marketable Securities $ 622.7 $ 639.2 $ 58.3 $ 58.1 |
Pension Benefits and Postreti28
Pension Benefits and Postretirement Benefits Other Than Pensions (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule Of Net Benefit Costs [Table Text Block] | Pension and SERP Pension and SERP Eversource For the Three Months Ended For the Six Months Ended (Millions of Dollars) June 30, 2015 (1) June 30, 2014 June 30, 2015 (1) June 30, 2014 Service Cost $ 22.8 $ 19.1 $ 45.9 $ 41.5 Interest Cost 56.9 56.3 113.3 113.0 Expected Return on Plan Assets (83.9) (77.7) (168.2) (155.4) Actuarial Loss 36.5 31.7 75.5 64.7 Prior Service Cost 0.9 1.1 1.8 2.1 Total Net Periodic Benefit Expense $ 33.2 $ 30.5 $ 68.3 $ 65.9 Capitalized Pension Expense $ 9.8 $ 8.7 $ 21.1 $ 18.4 PBOP PBOP Eversource For the Three Months Ended For the Six Months Ended (Millions of Dollars) June 30, 2015 (1) June 30, 2014 June 30, 2015 (1) June 30, 2014 Service Cost $ 3.9 $ 3.2 $ 8.1 $ 6.3 Interest Cost 11.7 12.1 23.6 24.7 Expected Return on Plan Assets (16.9) (15.8) (33.7) (31.6) Actuarial Loss 1.7 3.0 3.4 6.0 Prior Service Credit (0.2) (0.7) (0.2) (1.4) Total Net Periodic Benefit Expense $ 0.2 $ 1.8 $ 1.2 $ 4.0 Capitalized PBOP Expense/(Income) $ (0.1) $ 0.4 $ - $ 0.8 Pension and SERP For the Three Months Ended June 30, 2015 For the Three Months Ended June 30, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH (1) WMECO CL&P Electric PSNH WMECO Service Cost $ 6.2 $ 3.7 $ 3.1 $ 1.0 $ 5.0 $ 3.0 $ 2.3 $ 0.8 Interest Cost 12.9 10.0 6.1 2.6 12.4 10.3 5.8 2.5 Expected Return on Plan Assets (19.8) (17.5) (10.1) (4.7) (18.7) (15.7) (9.3) (4.4) Actuarial Loss 8.0 8.7 2.9 1.6 8.2 5.9 2.8 1.7 Prior Service Cost 0.4 - 0.1 0.1 0.5 - 0.1 0.1 Total Net Periodic Benefit Expense $ 7.7 $ 4.9 $ 2.1 $ 0.6 $ 7.4 $ 3.5 $ 1.7 $ 0.7 Intercompany Allocations $ 5.8 $ 3.4 $ 1.6 $ 1.1 $ 7.5 $ 1.4 $ 2.1 $ 1.4 Capitalized Pension Expense $ 4.7 $ 2.7 $ 0.9 $ 0.5 $ 4.4 $ 1.0 $ 0.8 $ 0.6 Pension and SERP For the Six Months Ended June 30, 2015 For the Six Months Ended June 30, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH (1) WMECO CL&P Electric PSNH WMECO Service Cost $ 12.2 $ 7.5 $ 6.0 $ 2.2 $ 10.2 $ 7.6 $ 5.1 $ 1.9 Interest Cost 25.4 20.1 12.1 5.2 25.7 20.6 12.3 5.2 Expected Return on Plan Assets (39.4) (35.1) (20.2) (9.4) (38.0) (31.5) (19.5) (9.0) Actuarial Loss 16.2 18.4 5.8 3.2 17.3 11.7 6.0 3.5 Prior Service Cost 0.8 - 0.2 0.1 0.9 - 0.3 0.2 Total Net Periodic Benefit Expense $ 15.2 $ 10.9 $ 3.9 $ 1.3 $ 16.1 $ 8.4 $ 4.2 $ 1.8 Intercompany Allocations $ 12.2 $ 6.9 $ 3.4 $ 2.3 $ 14.3 $ 3.8 $ 4.2 $ 2.7 Capitalized Pension Expense $ 9.4 $ 5.9 $ 1.7 $ 1.0 $ 9.3 $ 2.9 $ 1.7 $ 1.4 PBOP For the Three Months Ended June 30, 2015 For the Three Months Ended June 30, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH (1) WMECO CL&P Electric PSNH WMECO Service Cost $ 0.5 $ 1.3 $ 0.3 $ 0.1 $ 0.5 $ 0.8 $ 0.3 $ 0.1 Interest Cost 1.8 4.7 1.0 0.3 1.9 4.8 1.0 0.4 Expected Return on Plan Assets (2.8) (6.9) (1.5) (0.6) (2.5) (6.5) (1.3) (0.6) Actuarial Loss/(Gain) 0.2 0.4 0.1 - 1.0 (0.2) 0.6 0.1 Prior Service Credit - (0.1) - - - (0.5) - - Total Net Periodic Benefit Expense/(Income) $ (0.3) $ (0.6) $ (0.1) $ (0.2) $ 0.9 $ (1.6) $ 0.6 $ - Intercompany Allocations $ 0.4 $ 0.2 $ 0.1 $ 0.1 $ 1.1 $ - $ 0.3 $ 0.2 Capitalized PBOP Expense/(Income) $ (0.1) $ (0.2) $ - $ - $ 0.5 $ (0.5) $ 0.2 $ - PBOP For the Six Months Ended June 30, 2015 For the Six Months Ended June 30, 2014 NSTAR NSTAR (Millions of Dollars) CL&P Electric PSNH (1) WMECO CL&P Electric PSNH WMECO Service Cost $ 1.1 $ 2.7 $ 0.7 $ 0.2 $ 1.1 $ 1.6 $ 0.7 $ 0.2 Interest Cost 3.5 9.5 1.9 0.8 4.0 9.7 2.1 0.8 Expected Return on Plan Assets (5.5) (13.7) (3.0) (1.3) (5.2) (13.0) (2.7) (1.1) Actuarial Loss/(Gain) 0.3 1.2 0.3 - 2.1 (0.3) 1.1 0.2 Prior Service Credit - (0.1) - - - (0.9) - - Total Net Periodic Benefit Expense/(Income) $ (0.6) $ (0.4) $ (0.1) $ (0.3) $ 2.0 $ (2.9) $ 1.2 $ 0.1 Intercompany Allocations $ 0.9 $ 0.4 $ 0.2 $ 0.2 $ 2.2 $ 0.1 $ 0.6 $ 0.4 Capitalized PBOP Expense/(Income) $ (0.1) $ (0.1) $ 0.1 $ (0.1) $ 1.0 $ (1.0) $ 0.4 $ 0.1 (1) Amounts exclude approximately $0.8 million and $1.6 million for the three and six months ended June 30, 2015, respectively, that represented amounts included in other deferred debits. |
Environmental Matters (Tables)
Environmental Matters (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule Of Environmental Loss Contingencies By Site Text Block | As of June 30, 2015 As of December 31, 2014 Reserve Reserve Number of Sites (in millions) Number of Sites (in millions) Eversource 65 $ 46.2 65 $ 43.3 CL&P 15 4.9 16 3.8 NSTAR Electric 14 2.3 13 1.1 PSNH 12 3.4 13 5.2 WMECO 4 0.6 4 0.5 |
Guarantees and Indemnifications
Guarantees and Indemnifications (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule Of Guarantee Obligations Text Block | Maximum Exposure Company Description (in millions) Expiration Dates On behalf of subsidiaries: Various Surety Bonds (1) $ 33.8 2015 - 2016 Eversource Service and Rocky River Realty Company Lease Payments for Vehicles and Real Estate $ 12.7 2019 and 2024 On behalf of external parties: Purchaser of E.S. Boulos Company and a bonding company E.S. Boulos Company Indemnification $ 42.1 2016 and 2020 |
FAIR VALUE OF FINANCIAL INSTR31
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Fair Value By Balance Sheet Grouping Text Block | As of June 30, 2015 As of December 31, 2014 Eversource Carrying Fair Carrying Fair (Millions of Dollars) Amount Value Amount Value Preferred Stock Not Subject to Mandatory Redemption $ 155.6 $ 154.8 $ 155.6 $ 153.6 Long-Term Debt 8,968.5 9,329.9 8,851.6 9,451.2 As of June 30, 2015 CL&P NSTAR Electric PSNH WMECO Carrying Fair Carrying Fair Carrying Fair Carrying Fair (Millions of Dollars) Amount Value Amount Value Amount Value Amount Value Preferred Stock Not Subject to Mandatory Redemption $ 116.2 $ 113.0 $ 43.0 $ 41.8 $ - $ - $ - $ - Long-Term Debt 2,975.1 3,242.9 1,792.7 1,916.6 1,076.3 1,133.0 628.0 658.0 As of December 31, 2014 CL&P NSTAR Electric PSNH WMECO Carrying Fair Carrying Fair Carrying Fair Carrying Fair (Millions of Dollars) Amount Value Amount Value Amount Value Amount Value Preferred Stock Not Subject to Mandatory Redemption $ 116.2 $ 112.0 $ 43.0 $ 41.6 $ - $ - $ - $ - Long-Term Debt 2,842.0 3,214.5 1,797.4 1,993.5 1,076.3 1,137.9 628.5 689.4 |
ACCUMULATED OTHER COMPREHENSI32
ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income Loss Table Text Block | For the Six Months Ended June 30, 2015 For the Six Months Ended June 30, 2014 Qualified Unrealized Qualified Unrealized Cash Flow Gains/(Losses) Defined Cash Flow Gains on Defined Eversource Hedging on Marketable Benefit Hedging Marketable Benefit (Millions of Dollars) Instruments Securities Plans Total Instruments Securities Plans Total Balance as of Beginning of Period $ (12.4) $ 0.7 $ (62.3) $ (74.0) $ (14.4) $ 0.4 $ (32.0) $ (46.0) OCI Before Reclassifications - (1.1) (0.4) (1.5) - 0.5 1.2 1.7 Amounts Reclassified from AOCI 1.0 - 2.5 3.5 1.0 - 1.8 2.8 Net OCI 1.0 (1.1) 2.1 2.0 1.0 0.5 3.0 4.5 Balance as of End of Period $ (11.4) $ (0.4) $ (60.2) $ (72.0) $ (13.4) $ 0.9 $ (29.0) $ (41.5) |
COMMON SHARES (Tables)
COMMON SHARES (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule of Stock by Class [Text Block] | 11 . COMMON SHARES The following table sets fo rth the E ve r s ource parent common shares and the shares of common stock of CL&P, NSTAR Electric , PSNH and WMECO that were authorized and issued and the respective per share par values : Shares Authorized as of Per Share June 30, 2015 and Issued as of Par Value December 31, 2014 June 30, 2015 December 31, 2014 Eversource $ 5 380,000,000 333,833,308 333,359,172 CL&P $ 10 24,500,000 6,035,205 6,035,205 NSTAR Electric $ 1 100,000,000 100 100 PSNH $ 1 100,000,000 301 301 WMECO $ 25 1,072,471 434,653 434,653 As of June 30 , 2015 and December 31, 2014 , there were 16,671,366 and 16,375,835 E versource common shares held as treasury shares, respectively. As of June 30 , 2015 and December 31, 2014 , Eversource common sha res outstanding were 317,161,942 and 316 , 983 , 337 , respectively. In May 2015, the Company repurchased 532,521 treasury shares at a share price of $47.94. |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule Of Earnings Per Share Basic And Diluted [Table Text Block] | Eversource For the Three Months Ended For the Six Months Ended (Millions of Dollars, except share information) June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net Income Attributable to Controlling Interest $ 207.5 $ 127.4 $ 460.8 $ 363.3 Weighted Average Common Shares Outstanding: Basic 317,613,166 315,950,510 317,352,004 315,742,511 Dilutive Effect 946,402 1,162,291 1,173,374 1,259,950 Diluted 318,559,568 317,112,801 318,525,378 317,002,461 Basic and Diluted EPS $ 0.65 $ 0.40 $ 1.45 $ 1.15 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Segment Reporting Information [Line Items] | |
Schedule Of Segment Reporting Information By Segment Text Block | For the Three Months Ended June 30, 2015 Eversource Electric Natural Gas Electric (Millions of Dollars) Distribution Distribution Transmission Other Eliminations Total Operating Revenues $ 1,382.7 $ 186.0 $ 267.8 $ 203.7 $ (223.1) $ 1,817.1 Depreciation and Amortization (98.5) (17.7) (39.7) (7.1) 0.5 (162.5) Other Operating Expenses (1,052.1) (150.2) (73.1) (190.7) 223.5 (1,242.6) Operating Income 232.1 18.1 155.0 5.9 0.9 412.0 Interest Expense (45.6) (9.1) (26.3) (12.4) 1.1 (92.3) Other Income, Net 5.5 0.3 5.1 220.1 (218.1) 12.9 Net Income Attributable to Controlling Interest $ 120.9 $ 5.3 $ 80.4 $ 217.0 $ (216.1) $ 207.5 For the Six Months Ended June 30, 2015 Eversource Electric Natural Gas Electric (Millions of Dollars) Distribution Distribution Transmission Other Eliminations Total Operating Revenues $ 3,142.8 $ 693.4 $ 516.8 $ 443.7 $ (466.2) $ 4,330.5 Depreciation and Amortization (257.6) (35.9) (80.1) (14.3) 1.0 (386.9) Other Operating Expenses (2,395.0) (538.7) (147.2) (419.9) 466.7 (3,034.1) Operating Income 490.2 118.8 289.5 9.5 1.5 909.5 Interest Expense (93.2) (18.1) (53.9) (24.1) 2.2 (187.1) Other Income, Net 7.6 0.1 8.1 535.0 (532.2) 18.6 Net Income Attributable to Controlling Interest $ 251.4 $ 61.0 $ 147.0 $ 529.9 $ (528.5) $ 460.8 Cash Flows Used for Investments in Plant $ 319.8 $ 67.5 $ 328.7 $ 24.4 $ - $ 740.4 For the Three Months Ended June 30, 2014 Eversource Electric Natural Gas Electric (Millions of Dollars) Distribution Distribution Transmission Other Eliminations Total Operating Revenues $ 1,261.8 $ 195.5 $ 206.9 $ 184.7 $ (171.3) $ 1,677.6 Depreciation and Amortization (89.3) (16.9) (37.0) (7.7) 2.3 (148.6) Other Operating Expenses (991.5) (166.5) (71.0) (174.9) 168.9 (1,235.0) Operating Income 181.0 12.1 98.9 2.1 (0.1) 294.0 Interest Expense (47.2) (8.7) (28.8) (9.1) 1.3 (92.5) Other Income, Net 2.9 - 2.7 137.7 (137.8) 5.5 Net Income Attributable to Controlling Interest $ 83.4 $ 2.0 $ 43.9 $ 133.3 $ (135.2) $ 127.4 For the Six Months Ended June 30, 2014 Eversource Electric Natural Gas Electric (Millions of Dollars) Distribution Distribution Transmission Other Eliminations Total Operating Revenues $ 2,847.8 $ 628.3 $ 458.9 $ 356.9 $ (323.7) $ 3,968.2 Depreciation and Amortization (238.2) (34.6) (74.0) (14.7) 4.1 (357.4) Other Operating Expenses (2,202.4) (487.9) (137.3) (340.3) 318.8 (2,849.1) Operating Income 407.2 105.8 247.6 1.9 (0.8) 761.7 Interest Expense (94.6) (17.1) (54.3) (18.7) 2.2 (182.5) Other Income, Net 4.3 0.1 4.2 432.4 (433.8) 7.2 Net Income Attributable to Controlling Interest $ 195.6 $ 54.1 $ 118.8 $ 424.9 $ (430.1) $ 363.3 Cash Flows Used for Investments in Plant $ 335.6 $ 68.6 $ 289.3 $ 30.5 $ - $ 724.0 The following table summarizes Eversource's segmented total assets: Eversource Electric Natural Gas Electric (Millions of Dollars) Distribution Distribution Transmission Other Eliminations Total As of June 30, 2015 $ 17,872.9 $ 2,933.4 $ 7,589.7 $ 12,455.7 $ (10,971.8) $ 29,879.9 As of December 31, 2014 17,563.4 3,030.9 7,625.6 12,682.5 (11,124.4) 29,778.0 |
Basis of Presentation (Details)
Basis of Presentation (Details) | 3 Months Ended |
Jun. 30, 2015 | |
Description of Consolidation of Yankee Companies | Eversource consolidates CYAPC and YAEC because CL&P's, NSTAR Electric's, PSNH's and WMECO's combined ownership interest in each of these entities is greater than 50 percent. Intercompany transactions between CL&P, NSTAR Electric, PSNH and WMECO and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements. |
Provision for Uncollectible A37
Provision for Uncollectible Accounts (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | $ 209.8 | $ 175.3 |
Uncollectible Hardship Accounts Receivable Reserve | 106.2 | 91.5 |
The Connecticut Light And Power Company [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 100.5 | 84.3 |
Uncollectible Hardship Accounts Receivable Reserve | 84.7 | 74 |
NSTAR Electric Company [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 46.3 | 40.7 |
Public Service Company Of New Hampshire [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 9.5 | 7.7 |
Western Massachusetts Electric Company [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 12.1 | 9.9 |
Uncollectible Hardship Accounts Receivable Reserve | $ 7.2 | $ 6.2 |
Other Taxes (Details)
Other Taxes (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Excise And Sales Taxes | $ 33.2 | $ 35.2 | $ 75.1 | $ 79.6 |
The Connecticut Light And Power Company [Member] | ||||
Excise And Sales Taxes | $ 29.5 | $ 30.9 | $ 62.5 | $ 66.5 |
Supplemental Cash Flow Inform39
Supplemental Cash Flow Information (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Capital Expenditures Incurred But Not Yet Paid | $ 142.3 | $ 125.5 |
The Connecticut Light And Power Company [Member] | ||
Capital Expenditures Incurred But Not Yet Paid | 47.2 | 54 |
NSTAR Electric Company [Member] | ||
Capital Expenditures Incurred But Not Yet Paid | 29.5 | 21.6 |
Public Service Company Of New Hampshire [Member] | ||
Capital Expenditures Incurred But Not Yet Paid | 25.6 | 14.8 |
Western Massachusetts Electric Company [Member] | ||
Capital Expenditures Incurred But Not Yet Paid | $ 13.7 | $ 9.9 |
Severance Benefits (Details)
Severance Benefits (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Notes To Consolidated Financial Statements [Abstract] | |||||
Description Of Postemployment Benefits | Severance Benefits | ||||
Postemployment Benefits Period Expense | $ 1.2 | $ 1.4 | $ 1.6 | $ 5.7 | |
Postemployment Benefits Liability Current | $ 7.8 | $ 7.8 | $ 10.4 |
REGULATORY ACCOUNTING (Details)
REGULATORY ACCOUNTING (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | $ 4,726,400 | $ 4,726,600 |
Regulatory Assets Current | 709,660 | 672,493 |
Regulatory Assets Long Term | 4,016,684 | 4,054,086 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | $ 60,800 | 60,500 |
Public Utilities Disclosure Of Regulatory Matters | 2015 Regulatory Developments: FERC ROE Complaints: As a result of the March 3, 2015 FERC order in the pending ROE complaint proceedings described in Note 8C, "Commitments and Contingencies – FERC ROE Complaints," in 2015, Eversource recognized a pre-tax charge to earnings (excluding interest) of $20 million, of which $12.5 million was recorded at CL&P, $2.4 million at NSTAR Electric, $1 million at PSNH, and $4.1 million at WMECO. The pre-tax charge was recorded as a regulatory liability and as a reduction to Operating Revenues. NSTAR Electric and NSTAR Gas 2014 Comprehensive Settlement Agreement: On March 2, 2015, the DPU approved the comprehensive settlement agreement between NSTAR Electric, NSTAR Gas and the Massachusetts Attorney General (the "Settlement") as filed with the DPU on December 31, 2014. The Settlement resolved the outstanding NSTAR Electric CPSL program filings for 2006 through 2011, the NSTAR Electric and NSTAR Gas PAM and energy efficiency-related customer billing adjustments reported in 2012, and the recovery of LBR related to NSTAR Electric's energy efficiency programs for 2009 through 2011 (11 dockets in total). In 2015, as a result of the DPU order, NSTAR Electric and NSTAR Gas commenced refunding a combined $44.7 million to customers, which was recorded as a regulatory liability. NSTAR Electric recognized a $21.7 million pre-tax benefit in the first half of 2015 as a result of the approval of the Settlement. NSTAR Electric Basic Service Bad Debt Adder: On January 7, 2015, the DPU issued an order concluding that NSTAR Electric had removed energy-related bad debt costs from base distribution rates effective January 1, 2006. The DPU ordered NSTAR Electric and the Massachusetts Attorney General to collaborate on the reconciliations of energy-related bad debt costs through 2014. As a result of the DPU order, NSTAR Electric increased its regulatory assets and reduced operations and maintenance expense by $24.2 million in the first quarter, resulting in after-tax earnings of $14.5 million. On May 5, 2015, NSTAR Electric filed for recovery of the energy-related bad debt costs regulatory asset from customers beginning July 1, 2015. On June 24, 2015, the DPU delayed the effective date of NSTAR Electric’s proposed rate increase from July 1, 2015 to November 1, 2015 to allow for the DPU staff to review the reconciliations. The established procedural schedule is expected to result in an approval of the proposed rate increase in the fourth quarter of 2015. CL&P Distribution Rates: On December 17, 2014, PURA granted a re-opener request to CL&P’s base distribution rate application for further review of the appropriate balance of ADIT utilized in the calculation of rate base. On July 2, 2015, PURA issued a final order that approved a settlement agreement filed on May 19, 2015 between CL&P and the PURA Prosecutorial Staff. The order allows for an increase to rate base of approximately $166 million associated with ADIT, including a regulatory asset to recover the incremental revenue requirement for the period December 1, 2014 through November 30, 2015 over a subsequent two-year period. The rate base increase provided an increase to total allowed annual revenue requirements of $18.4 million beginning December 1, 2014. Of that amount, $10.7 million has been recorded as a regulatory asset in June 2015, with a corresponding increase in Operating Revenues. The remaining $7.7 million will be recorded from July 2015 through November 2015. The aggregate amount will be collected from customers in rates over a 24-month period commencing on December 1, 2015. | |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | $ 719,300 | 750,100 |
Regulatory Liability Current | 208,510 | 235,022 |
Regulatory Liabilities Long-Term | 510,807 | 515,144 |
The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 1,725,200 | 1,695,800 |
Regulatory Assets Current | 263,713 | 220,344 |
Regulatory Assets Long Term | 1,461,483 | 1,475,508 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 1,900 | 1,300 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 193,800 | 206,000 |
Regulatory Liability Current | 122,617 | 124,722 |
Regulatory Liabilities Long-Term | 71,245 | 81,298 |
NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 1,456,700 | 1,377,800 |
Regulatory Assets Current | 258,489 | 198,710 |
Regulatory Assets Long Term | 1,198,167 | 1,179,100 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 21,900 | 33,200 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 271,600 | 312,300 |
Regulatory Liability Current | 5,007 | 49,611 |
Regulatory Liabilities Long-Term | 266,572 | 262,738 |
Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 371,000 | 404,800 |
Regulatory Assets Current | 88,773 | 111,705 |
Regulatory Assets Long Term | 282,215 | 293,115 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 2,000 | 900 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 55,900 | 67,400 |
Regulatory Liability Current | 5,602 | 16,044 |
Regulatory Liabilities Long-Term | 50,250 | 51,372 |
Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 193,000 | 198,200 |
Regulatory Assets Current | 54,926 | 51,923 |
Regulatory Assets Long Term | 138,138 | 146,307 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 15,400 | 11,000 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 29,700 | 33,300 |
Regulatory Liability Current | 16,847 | 22,486 |
Regulatory Liabilities Long-Term | 12,921 | 10,835 |
Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 434,900 | 439,900 |
Cost Of Removal [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 13,500 | 19,700 |
Cost Of Removal [Member] | NSTAR Electric Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 261,500 | 258,300 |
Cost Of Removal [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 49,100 | 50,300 |
Cost Of Removal [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 2,800 | 1,100 |
Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 198,000 | 192,300 |
Regulatory Tracker Deferrals Regulatory Liabilities [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 115,600 | 122,600 |
Regulatory Tracker Deferrals Regulatory Liabilities [Member] | NSTAR Electric Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 2,900 | 20,700 |
Regulatory Tracker Deferrals Regulatory Liabilities [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 4,800 | 14,200 |
Regulatory Tracker Deferrals Regulatory Liabilities [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 17,000 | 22,300 |
AFUDC Transmission Incentive [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 66,200 | 67,100 |
AFUDC Transmission Incentive [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 52,200 | 53,600 |
AFUDC Transmission Incentive [Member] | NSTAR Electric Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 5,000 | 4,400 |
AFUDC Transmission Incentive [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 9,000 | 9,100 |
Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 20,200 | 50,800 |
Other Regulatory Liabilities [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 12,500 | 10,100 |
Other Regulatory Liabilities [Member] | NSTAR Electric Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 2,200 | 28,900 |
Other Regulatory Liabilities [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 2,000 | 2,900 |
Other Regulatory Liabilities [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 900 | 800 |
Benefit Costs [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 1,980,000 | 2,016,000 |
Benefit Costs [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 443,300 | 445,400 |
Benefit Costs [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 496,100 | 515,900 |
Benefit Costs [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 175,100 | 174,300 |
Benefit Costs [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 85,900 | 85,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 423,700 | 425,500 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 420,200 | 410,900 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 2,200 | 4,500 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 0 | 0 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 0 | 0 |
Deferred Income Tax Charges Member | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 631,500 | 635,300 |
Deferred Income Tax Charges Member | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 438,900 | 437,700 |
Deferred Income Tax Charges Member | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 84,000 | 83,700 |
Deferred Income Tax Charges Member | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 34,800 | 38,000 |
Deferred Income Tax Charges Member | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 30,700 | 35,500 |
Storm Restoration Costs [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 484,300 | 502,800 |
Storm Restoration Costs [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 298,400 | 319,600 |
Storm Restoration Costs [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 117,100 | 103,700 |
Storm Restoration Costs [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 41,100 | 47,700 |
Storm Restoration Costs [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 27,700 | 31,800 |
Goodwill Regulatory Asset [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 495,100 | 505,400 |
Goodwill Regulatory Asset [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 425,100 | 433,900 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 430,700 | 350,500 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 44,800 | 16,100 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 255,000 | 141,400 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 84,300 | 103,500 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 36,000 | 33,000 |
Unrecovered Contractual Obligations [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 124,800 | 123,800 |
Other Regulatory Assets [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 156,300 | 167,300 |
Other Regulatory Assets [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 79,600 | 66,100 |
Other Regulatory Assets [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 77,200 | 94,700 |
Other Regulatory Assets [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 35,700 | 41,300 |
Other Regulatory Assets [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | $ 12,700 | $ 12,900 |
PROPERTY, PLANT AND ACCUMULAT42
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Public Utility Property Plant And Equipment [Line Items] | ||
Public Utilities Property Plant And Equipment Distribution | $ 12,701,600 | $ 12,495,200 |
Public Utilities Property Plant And Equipment Distribution Natural Gas | 2,625,900 | 2,595,400 |
Public Utilities Property Plant And Equipment Transmission | 7,196,300 | 6,930,700 |
Public Utilities Property Plant And Equipment Generation Or Processing | 1,175,900 | 1,170,900 |
Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total | 23,699,700 | 23,192,200 |
Public Utilities Property Plant And Equipment Other Property Plant And Equipment | 547,500 | 551,300 |
Public Utilities Property Plant And Equipment Plant In Service | 24,247,200 | 23,743,500 |
Less Accumulated Depreciation [Abstract] | ||
Electric And Natural Gas Utility Accumulated Depreciation | (5,950,400) | (5,777,800) |
Other Accumulated Depreciation | (238,400) | (231,800) |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | (6,188,800) | (6,009,600) |
Property Plant And Equipment Net Excluding Construction Work In Progress | 18,058,400 | 17,733,900 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 1,020,800 | 913,100 |
Property, Plant and Equipment, Net | 19,079,189 | 18,647,041 |
The Connecticut Light And Power Company [Member] | ||
Public Utility Property Plant And Equipment [Line Items] | ||
Public Utilities Property Plant And Equipment Distribution | 5,245,300 | 5,158,800 |
Public Utilities Property Plant And Equipment Transmission | 3,455,500 | 3,274,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 0 | 0 |
Public Utilities Property Plant And Equipment Plant In Service | 8,700,800 | 8,432,800 |
Less Accumulated Depreciation [Abstract] | ||
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | (1,975,900) | (1,928,000) |
Property Plant And Equipment Net Excluding Construction Work In Progress | 6,724,900 | 6,504,800 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 209,700 | 304,900 |
Property, Plant and Equipment, Net | 6,934,618 | 6,809,664 |
NSTAR Electric Company [Member] | ||
Public Utility Property Plant And Equipment [Line Items] | ||
Public Utilities Property Plant And Equipment Distribution | 4,954,700 | 4,895,500 |
Public Utilities Property Plant And Equipment Transmission | 1,965,200 | 1,928,500 |
Public Utilities Property Plant And Equipment Generation Or Processing | 0 | 0 |
Public Utilities Property Plant And Equipment Plant In Service | 6,919,900 | 6,824,000 |
Less Accumulated Depreciation [Abstract] | ||
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | (1,824,900) | (1,761,400) |
Property Plant And Equipment Net Excluding Construction Work In Progress | 5,095,000 | 5,062,600 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 356,700 | 272,800 |
Property, Plant and Equipment, Net | 5,451,668 | 5,335,436 |
Public Service Company Of New Hampshire [Member] | ||
Public Utility Property Plant And Equipment [Line Items] | ||
Public Utilities Property Plant And Equipment Distribution | 1,744,800 | 1,696,700 |
Public Utilities Property Plant And Equipment Transmission | 821,200 | 789,700 |
Public Utilities Property Plant And Equipment Generation Or Processing | 1,141,500 | 1,136,500 |
Public Utilities Property Plant And Equipment Plant In Service | 3,707,500 | 3,622,900 |
Less Accumulated Depreciation [Abstract] | ||
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | (1,127,600) | (1,090,000) |
Property Plant And Equipment Net Excluding Construction Work In Progress | 2,579,900 | 2,532,900 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 135,000 | 102,900 |
Property, Plant and Equipment, Net | 2,714,915 | 2,635,844 |
Public Service Company Of New Hampshire [Member] | Generation Plant [Member] | ||
Less Accumulated Depreciation [Abstract] | ||
Electric And Natural Gas Utility Accumulated Depreciation | (505,600) | |
Western Massachusetts Electric Company [Member] | ||
Public Utility Property Plant And Equipment [Line Items] | ||
Public Utilities Property Plant And Equipment Distribution | 796,800 | 784,200 |
Public Utilities Property Plant And Equipment Transmission | 906,400 | 891,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 34,400 | 34,400 |
Public Utilities Property Plant And Equipment Plant In Service | 1,737,600 | 1,709,600 |
Less Accumulated Depreciation [Abstract] | ||
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | (309,200) | (297,400) |
Property Plant And Equipment Net Excluding Construction Work In Progress | 1,428,400 | 1,412,200 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 79,800 | 49,100 |
Property, Plant and Equipment, Net | $ 1,508,207 | $ 1,461,321 |
DERIVATIVE INSTURMENTS (Details
DERIVATIVE INSTURMENTS (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015USD ($)$ / KWmo$ / MWh | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)$ / KWmo$ / MWh | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($)$ / KWmo$ / MWh$ / REC | |
Derivative Instrument Detail Abstract | |||||
Derivative Liabilities, Noncurrent | $ (380,966) | $ (380,966) | $ (409,632) | ||
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | |||||
Description of Derivative Activity Volume | As required by regulation, CL&P, along with UI, has capacity-related contracts with generation facilities. CL&P has a sharing agreement with UI, with 80 percent of each contract allocated to CL&P and 20 percent allocated to UI. The combined capacity of these contracts is 787 MW. The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the capacity market price received in the ISO-NE capacity markets. In addition, CL&P has a contract to purchase 0.1 million MWh of energy per year through 2020. NSTAR Electric has a renewable energy contract to purchase 0.1 million MWh of energy per year through 2018 and a capacity-related contract to purchase up to 35 MW per year through 2019. As of June 30, 2015 and December 31, 2014, Eversource had NYMEX financial contracts for natural gas futures in order to reduce variability associated with the purchase price of approximately 6.8 million and 8.8 million MMBtu of natural gas, respectively. | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net Abstract | |||||
Derivative Instruments Gain Loss Recognized In Regulatory Asset Liability | (36,600) | $ 111,600 | $ (50,100) | $ 166,000 | |
Derivative Credit Risk Related Contingent Features Abstract | |||||
Derivative Net Liability Position Aggregate Fair Value | (1,300) | (1,300) | (10,000) | ||
Collateral Already Posted Aggregate Fair Value | 1,300 | $ 1,300 | |||
Additional Collateral Aggregate Fair Value | 10,000 | ||||
FairValueInputsQuantitativeInformation[Abstract] | |||||
FairValueInputsExitPricePremium | Exit price premiums of 6 percent through 23 percent are also applied on these contracts and reflect the most recent market activity available for similar type contracts | ||||
The Connecticut Light And Power Company [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Liabilities - Current | (90,933) | $ (90,933) | (88,459) | ||
Derivative Liabilities, Noncurrent | $ (380,196) | $ (380,196) | (406,199) | ||
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | |||||
Description of Derivative Activity Volume | As required by regulation, CL&P, along with UI, has capacity-related contracts with generation facilities. CL&P has a sharing agreement with UI, with 80 percent of each contract allocated to CL&P and 20 percent allocated to UI. The combined capacity of these contracts is 787 MW. The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the capacity market price received in the ISO-NE capacity markets. In addition, CL&P has a contract to purchase 0.1 million MWh of energy per year through 2020. | ||||
NSTAR Electric Company [Member] | |||||
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | |||||
Description of Derivative Activity Volume | NSTAR Electric has a renewable energy contract to purchase 0.1 million MWh of energy per year through 2018 and a capacity-related contract to purchase up to 35 MW per year through 2019. | ||||
Fair Value Inputs Level 2 [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Liabilities - Current | $ (1,300) | $ (1,300) | (9,800) | ||
Derivative Liabilities, Noncurrent | 0 | 0 | (300) | ||
Fair Value Inputs Level 3 [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Assets - Current | 6,100 | 6,100 | 9,600 | ||
Derivative Liabilities - Current | (92,700) | (92,700) | (90,000) | ||
Derivative Liabilities, Noncurrent | (381,000) | (381,000) | (409,300) | ||
Derivative Assets Noncurrent | $ 45,200 | $ 45,200 | $ 74,300 | ||
FairValueInputsQuantitativeInformation[Abstract] | |||||
FairValueInputsEnergyPrices | $ / MWh | 45 | 45 | 52 | ||
Fair Value Inputs Level 3 [Member] | MinimumMember | |||||
FairValueInputsQuantitativeInformation[Abstract] | |||||
FairValueInputsCapacityPrices | $ / KWmo | 10.05 | 10.05 | 5.30 | ||
FairValueInputsRenewableEnergyCreditPrices | $ / KWmo | 46 | 46 | 38 | ||
FairValueInputsForwardReserve | $ / KWmo | 2.40 | 2.40 | 5.80 | ||
Fair Value Inputs Level 3 [Member] | MaximumMember | |||||
FairValueInputsQuantitativeInformation[Abstract] | |||||
FairValueInputsCapacityPrices | $ / KWmo | 12.60 | 12.60 | 12.98 | ||
FairValueInputsRenewableEnergyCreditPrices | 51 | 51 | 56 | ||
FairValueInputsForwardReserve | $ / KWmo | 9.50 | ||||
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Assets - Current | $ 6,100 | $ 6,100 | $ 9,500 | ||
Derivative Liabilities - Current | (90,900) | (90,900) | (88,500) | ||
Derivative Liabilities, Noncurrent | (380,200) | (380,200) | (406,200) | ||
Derivative Assets Noncurrent | $ 44,800 | $ 44,800 | $ 74,300 | ||
FairValueInputsQuantitativeInformation[Abstract] | |||||
FairValueInputsEnergyPrices | $ / MWh | 45 | 45 | 52 | ||
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | MinimumMember | |||||
FairValueInputsQuantitativeInformation[Abstract] | |||||
FairValueInputsCapacityPrices | $ / KWmo | 10.81 | 10.81 | 11.08 | ||
FairValueInputsForwardReserve | $ / KWmo | 2.40 | 2.40 | 5.80 | ||
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | MaximumMember | |||||
FairValueInputsQuantitativeInformation[Abstract] | |||||
FairValueInputsCapacityPrices | $ / KWmo | 12.60 | 12.60 | 12.98 | ||
FairValueInputsForwardReserve | $ / KWmo | 9.50 | ||||
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Assets - Current | $ 100 | ||||
Derivative Liabilities - Current | $ (1,800) | $ (1,800) | (1,500) | ||
Derivative Liabilities, Noncurrent | (800) | (800) | $ (3,100) | ||
Derivative Assets Noncurrent | $ 400 | $ 400 | |||
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | MinimumMember | |||||
FairValueInputsQuantitativeInformation[Abstract] | |||||
FairValueInputsCapacityPrices | $ / KWmo | 10.05 | 10.05 | 5.30 | ||
FairValueInputsRenewableEnergyCreditPrices | 46 | 46 | 38 | ||
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | MaximumMember | |||||
FairValueInputsQuantitativeInformation[Abstract] | |||||
FairValueInputsCapacityPrices | $ / KWmo | 10.81 | 10.81 | 11.10 | ||
FairValueInputsRenewableEnergyCreditPrices | 51 | 51 | 56 | ||
Amount Offset Against Derivatives [Member] | Fair Value Inputs Level 2 [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Liabilities - Current | $ 200 | $ 200 | |||
Amount Offset Against Derivatives [Member] | Fair Value Inputs Level 3 [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Assets - Current | (10,400) | (10,400) | $ (6,600) | ||
Derivative Liabilities - Current | 0 | 0 | |||
Derivative Assets Noncurrent | (23,900) | (23,900) | (19,200) | ||
Amount Offset Against Derivatives [Member] | Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Assets - Current | (10,400) | (10,400) | (6,600) | ||
Derivative Assets Noncurrent | (23,900) | (23,900) | (19,200) | ||
Commodity [Member] | Fair Value Inputs Level 2 [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Liabilities - Current | (1,500) | (1,500) | (9,800) | ||
Derivative Liabilities, Noncurrent | 0 | 0 | (300) | ||
Commodity [Member] | Fair Value Inputs Level 3 [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Assets - Current | 16,500 | 16,500 | 16,200 | ||
Derivative Liabilities - Current | (92,700) | (92,700) | (90,000) | ||
Derivative Liabilities, Noncurrent | (381,000) | (381,000) | (409,300) | ||
Derivative Assets Noncurrent | 69,100 | 69,100 | 93,500 | ||
Commodity [Member] | Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Assets - Current | 16,500 | 16,500 | 16,100 | ||
Derivative Liabilities - Current | (90,900) | (90,900) | (88,500) | ||
Derivative Liabilities, Noncurrent | (380,200) | (380,200) | (406,200) | ||
Derivative Assets Noncurrent | 68,700 | 68,700 | 93,500 | ||
Commodity [Member] | Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | |||||
Derivative Instrument Detail Abstract | |||||
Derivative Assets - Current | 100 | ||||
Derivative Liabilities - Current | (1,800) | (1,800) | (1,500) | ||
Derivative Liabilities, Noncurrent | (800) | (800) | $ (3,100) | ||
Derivative Assets Noncurrent | $ 400 | $ 400 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | $ (406.8) | $ (564.3) | $ (415.4) | $ (635.2) |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | (37.1) | 111.8 | (49.2) | 161.3 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 21.5 | 21.6 | 42.2 | 43 |
Ending Balance | (422.4) | (430.9) | (422.4) | (430.9) |
The Connecticut Light And Power Company [Member] | ||||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | (403.3) | (557) | (410.9) | (630.6) |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | (36.8) | 112.2 | (48.9) | 164.5 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 19.9 | 20.2 | 39.6 | 41.5 |
Ending Balance | (420.2) | (424.6) | (420.2) | (424.6) |
NSTAR Electric Company [Member] | ||||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | (3.5) | (7.3) | (4.5) | (7.3) |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | (0.3) | (0.4) | (0.3) | (0.5) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 1.6 | 1.4 | 2.6 | 1.5 |
Ending Balance | $ (2.2) | $ (6.3) | $ (2.2) | $ (6.3) |
MARKETABLE SECURITIES (Details)
MARKETABLE SECURITIES (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Investments, Debt and Equity Securities [Abstract] | |||||
Marketable Securities, Restricted | $ 450 | $ 450 | $ 450.8 | ||
Available For Sale Securities Debt Maturities Fair Value Abstract | |||||
Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value | 61.2 | 61.2 | |||
Available For Sale Securities Debt Maturities After Ten Years Fair Value | 121.5 | 121.5 | |||
Available For Sale Securities Debt Maturities After One Year Through Five Years Fair Value | 70.8 | 70.8 | |||
Available For Sale Securities Debt Maturities Within One Year Fair Value | 66.1 | 66.1 | |||
Available For Sale Securities Debt Maturities Fair Value | 319.6 | 319.6 | |||
Available For Sale Securities Debt Maturities Amortized Cost Abstract | |||||
Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost | 70.4 | 70.4 | |||
Available For Sale Securities Debt Maturities Within One Year Amortized Cost | 66.1 | 66.1 | |||
Available For Sale Securities Debt Maturities After Ten Years Amortized Cost | 118.7 | 118.7 | |||
Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost | 60.1 | 60.1 | |||
Available For Sale Securities Debt Maturities Amortized Cost | 315.3 | 315.3 | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 622.7 | 622.7 | 639.2 | ||
TradingSecuritiesEquity | 14.9 | 14.9 | 85.1 | ||
IncreaseDecreaseInTradingSecurities | 0.5 | $ 3.1 | 2.1 | $ 3.8 | |
Western Massachusetts Electric Company [Member] | |||||
Available For Sale Securities Debt Maturities Fair Value Abstract | |||||
Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value | 0.6 | 0.6 | |||
Available For Sale Securities Debt Maturities After Ten Years Fair Value | 3.1 | 3.1 | |||
Available For Sale Securities Debt Maturities After One Year Through Five Years Fair Value | 16.2 | 16.2 | |||
Available For Sale Securities Debt Maturities Within One Year Fair Value | 38.4 | 38.4 | |||
Available For Sale Securities Debt Maturities Fair Value | 58.3 | 58.3 | |||
Available For Sale Securities Debt Maturities Amortized Cost Abstract | |||||
Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost | 16.2 | 16.2 | |||
Available For Sale Securities Debt Maturities Within One Year Amortized Cost | 38.4 | 38.4 | |||
Available For Sale Securities Debt Maturities After Ten Years Amortized Cost | 3.1 | 3.1 | |||
Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost | 0.6 | 0.6 | |||
Available For Sale Securities Debt Maturities Amortized Cost | 58.3 | 58.3 | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 58.3 | 58.3 | 58.1 | ||
Fair Value Inputs Level 1 Member | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 329.5 | 329.5 | 343.9 | ||
Fair Value Inputs Level 1 Member | Western Massachusetts Electric Company [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 2.1 | 2.1 | 4.3 | ||
Fair Value Inputs Level 2 [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 293.2 | 293.2 | 295.3 | ||
Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 56.2 | 56.2 | 53.8 | ||
US Government Debt Securities Member | Fair Value Inputs Level 2 [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 38.6 | 38.6 | 51.3 | ||
US Government Debt Securities Member | Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 0 | 0 | 0 | ||
Corporate Bond Securities Member | Fair Value Inputs Level 2 [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 60.1 | 60.1 | 49.1 | ||
Corporate Bond Securities Member | Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 13.6 | 13.6 | 14.7 | ||
Asset Backed Securities Member | Fair Value Inputs Level 2 [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 32 | 32 | 54.1 | ||
Asset Backed Securities Member | Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 10 | 10 | 14.5 | ||
Municipal Bonds Member | Fair Value Inputs Level 2 [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 126.9 | 126.9 | 116.3 | ||
Municipal Bonds Member | Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 10.8 | 10.8 | 13 | ||
Other Debt Securities Member | Fair Value Inputs Level 2 [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 35.6 | 35.6 | 24.5 | ||
Other Debt Securities Member | Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 21.8 | 21.8 | 11.6 | ||
Cash And Cash Equivalents Member | Fair Value Inputs Level 1 Member | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 26.4 | 26.4 | 24.9 | ||
Cash And Cash Equivalents Member | Fair Value Inputs Level 1 Member | Western Massachusetts Electric Company [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 2.1 | 2.1 | 4.3 | ||
Mutual Funds [Member] | Fair Value Inputs Level 1 Member | |||||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||||
Investments Fair Value Disclosure | 303.1 | 303.1 | 319 | ||
Debt Securities | |||||
Investments, Debt and Equity Securities [Abstract] | |||||
Available For Sale Securities Fair Value Disclosure | 319.6 | 319.6 | 320.2 | ||
Available-for-sale Securities, Gross Unrealized Gains | 4.9 | 7.5 | |||
AvailableForSaleSecuritiesGrossUnrealizedLoss | (0.6) | (0.3) | |||
Available For Sale Securities Amortized Cost | 315.3 | 315.3 | 313 | ||
Debt Securities | Western Massachusetts Electric Company [Member] | |||||
Investments, Debt and Equity Securities [Abstract] | |||||
Available For Sale Securities Fair Value Disclosure | 58.3 | 58.3 | 58.1 | ||
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 | |||
AvailableForSaleSecuritiesGrossUnrealizedLoss | 0 | (0.1) | |||
Available For Sale Securities Amortized Cost | 58.3 | 58.3 | 58.2 | ||
Equity Securities | |||||
Investments, Debt and Equity Securities [Abstract] | |||||
Available For Sale Securities Fair Value Disclosure | 288.2 | 288.2 | 233.9 | ||
Available-for-sale Securities, Gross Unrealized Gains | 72.9 | 73.3 | |||
AvailableForSaleSecuritiesGrossUnrealizedLoss | (1.2) | 0 | |||
Available For Sale Securities Amortized Cost | $ 216.5 | $ 216.5 | $ 160.6 |
SHORT AND LONG-TERM TERM DEBT (
SHORT AND LONG-TERM TERM DEBT (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Description | Credit Agreements and Commercial Paper Programs: Eversource parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas are parties to a five-year $1.45 billion revolving credit facility that expires September 6, 2019. The facility serves to backstop Eversource parent's $1.45 billion commercial paper program. The commercial paper program allows Eversource parent to issue commercial paper as a form of short-term debt. As of June 30, 2015 and December 31, 2014, Eversource parent had $576.5 million and approximately $1.1 billion, respectively, in short-term borrowings outstanding under the Eversource parent commercial paper program, leaving $873.5 million and $348.9 million of available borrowing capacity as of June 30, 2015 and December 31, 2014, respectively. The weighted-average interest rate on these borrowings as of June 30, 2015 and December 31, 2014 was 0.40 percent and 0.43 percent, respectively. As of June 30, 2015, there were intercompany loans from Eversource parent of $85.6 million to CL&P, $133.5 million to PSNH and $60.6 million to WMECO. As of December 31, 2014, there were intercompany loans from Eversource parent of $133.4 million to CL&P, $90.5 million to PSNH and $21.4 million to WMECO. NSTAR Electric has a five-year $450 million revolving credit facility that expires September 6, 2019. The facility serves to backstop NSTAR Electric's $450 million commercial paper program. As of June 30, 2015 and December 31, 2014, NSTAR Electric had $377.2 million and $302 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $72.8 million and $148 million of available borrowing capacity as of June 30, 2015 and December 31, 2014, respectively. The weighted-average interest rate on these borrowings as of June 30, 2015 and December 31, 2014 was 0.19 percent and 0.27 percent, respectively. | |
Notes Payable | $ 953,700 | $ 956,825 |
Long-term Debt, Description | Long-Term Debt: On January 15, 2015, Eversource parent issued $150 million of 1.60 percent Series G Senior Notes, due to mature in 2018 and $300 million of 3.15 percent Series H Senior Notes, due to mature in 2025. The proceeds, net of issuance costs, were used to repay short-term borrowings outstanding under the Eversource parent commercial paper program. As the debt issuances refinanced short-term debt, the short-term debt was classified as Long-Term Debt as of December 31, 2014. On April 1, 2015, CL&P repaid at maturity the $100 million 5.00 percent 2005 Series A First and Refunding Mortgage Bonds using short-term borrowings. On April 1, 2015, CL&P also redeemed the $62 million 1996A Series 1.55 percent PCRBs that were subject to mandatory tender, using short term borrowings. On May 20, 2015, CL&P issued $300 million of 4.15 percent 2015 Series A First and Refunding Mortgage Bonds due to mature in 2045. The proceeds, net of issuance costs, were used to repay short-term borrowings. On August 1, 2015, WMECO repaid at maturity the $50 million 5.24 percent Series C Senior Notes using short-term borrowings. Long-Term Debt Issuance Authorization: On April 3, 2015, the DPU authorized NSTAR Gas to issue up to $100 million in long-term debt for the period through December 31, 2015. On January 15, 2015, Eversource parent issued $150 million of 1.60 percent Series G Senior Notes, due to mature in 2018 and $300 million of 3.15 percent Series H Senior Notes, due to mature in 2025. The proceeds, net of issuance costs, were used to repay short-term borrowings outstanding under the Eversource parent commercial paper program. As the debt issuances refinanced short-term debt, the short-term debt was classified as Long-Term Debt as of December 31, 2014. On April 1, 2015, CL&P repaid at maturity the $100 million 5.00 percent 2005 Series A First and Refunding Mortgage Bonds using short-term borrowings. On April 1, 2015, CL&P also redeemed the $62 million 1996A Series 1.55 percent PCRBs that were subject to mandatory tender, using short term borrowings. On May 20, 2015, CL&P issued $300 million of 4.15 percent 2015 Series A First and Refunding Mortgage Bonds due to mature in 2045. The proceeds, net of issuance costs, were used to repay short-term borrowings. On August 1, 2015, WMECO repaid at maturity the $50 million 5.24 percent Series C Senior Notes using short-term borrowings. | |
The Connecticut Light And Power Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Notes Payable To Affiliated Companies | $ 85,600 | 133,400 |
Long-term Debt, Description | On April 1, 2015, CL&P repaid at maturity the $100 million 5.00 percent 2005 Series A First and Refunding Mortgage Bonds using short-term borrowings. On April 1, 2015, CL&P also redeemed the $62 million 1996A Series 1.55 percent PCRBs that were subject to mandatory tender, using short term borrowings. On April 1, 2015, CL&P repaid at maturity the $100 million 5.00 percent 2005 Series A First and Refunding Mortgage Bonds using short-term borrowings. On April 1, 2015, CL&P also redeemed the $62 million 1996A Series 1.55 percent PCRBs that were subject to mandatory tender, using short term borrowings. On May 20, 2015, CL&P issued $300 million of 4.15 percent 2015 Series A First and Refunding Mortgage Bonds due to mature in 2045. The proceeds, net of issuance costs, were used to repay short-term borrowings. | |
NSTAR Electric Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 450,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 72,800 | $ 148,000 |
Short-term Debt, Weighted Average Interest Rate | 0.19% | 0.27% |
CommercialPaper | $ 377,200 | $ 302,000 |
Notes Payable | 377,200 | 302,000 |
Public Service Company Of New Hampshire [Member] | ||
Line of Credit Facility [Line Items] | ||
Notes Payable To Affiliated Companies | 133,500 | 90,500 |
Western Massachusetts Electric Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Notes Payable To Affiliated Companies | $ 60,600 | 21,400 |
Long-term Debt, Description | On August 1, 2015, WMECO repaid at maturity the $50 million 5.24 percent Series C Senior Notes using short-term borrowings. | |
Eversource Parent [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,450,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 873,500 | $ 348,900 |
Short-term Debt, Weighted Average Interest Rate | 0.40% | 0.43% |
CommercialPaper | $ 576,500 | $ 1,100,000 |
PENSION BENEFITS AND POSTRETI47
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||||
Accrued Pension, SERP and PBOP | $ 1,636,769 | $ 1,636,769 | $ 1,638,558 | ||
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | |||||
Amount That Represents Deferred Regulatory Assets | 800 | 1,600 | |||
Pension Plans Defined Benefit Member | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Service Cost | 22,800 | $ 19,100 | 45,900 | $ 41,500 | |
Defined Benefit Plan Interest Cost | 56,900 | 56,300 | 113,300 | 113,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | (83,900) | (77,700) | (168,200) | (155,400) | |
Defined Benefit Plan, Amortization of Gains (Losses) | 36,500 | 31,700 | 75,500 | 64,700 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 900 | 1,100 | 1,800 | 2,100 | |
Defined Benefit Plan Net Periodic Benefit Cost | 33,200 | 30,500 | 68,300 | 65,900 | |
Amount Capitalized Defined Benefit Expense | 9,800 | 8,700 | 21,100 | 18,400 | |
PBOP Plan | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Service Cost | 3,900 | 3,200 | 8,100 | 6,300 | |
Defined Benefit Plan Interest Cost | 11,700 | 12,100 | 23,600 | 24,700 | |
Defined Benefit Plan, Expected Return on Plan Assets | (16,900) | (15,800) | (33,700) | (31,600) | |
Defined Benefit Plan, Amortization of Gains (Losses) | 1,700 | 3,000 | 3,400 | 6,000 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | (200) | (700) | (200) | (1,400) | |
Defined Benefit Plan Net Periodic Benefit Cost | 200 | 1,800 | 1,200 | 4,000 | |
Amount Capitalized Defined Benefit Expense | (100) | 400 | 0 | 800 | |
The Connecticut Light And Power Company [Member] | |||||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||||
Accrued Pension, SERP and PBOP | 286,131 | 286,131 | 273,854 | ||
The Connecticut Light And Power Company [Member] | Pension Plans Defined Benefit Member | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Service Cost | 6,200 | 5,000 | 12,200 | 10,200 | |
Defined Benefit Plan Interest Cost | 12,900 | 12,400 | 25,400 | 25,700 | |
Defined Benefit Plan, Expected Return on Plan Assets | (19,800) | (18,700) | (39,400) | (38,000) | |
Defined Benefit Plan, Amortization of Gains (Losses) | 8,000 | 8,200 | 16,200 | 17,300 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 400 | 500 | 800 | 900 | |
Defined Benefit Plan Net Periodic Benefit Cost | 7,700 | 7,400 | 15,200 | 16,100 | |
Related Intercompany Allocationsof Defined Benefit Expense | 5,800 | 7,500 | 12,200 | 14,300 | |
Amount Capitalized Defined Benefit Expense | 4,700 | 4,400 | 9,400 | 9,300 | |
The Connecticut Light And Power Company [Member] | PBOP Plan | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Service Cost | 500 | 500 | 1,100 | 1,100 | |
Defined Benefit Plan Interest Cost | 1,800 | 1,900 | 3,500 | 4,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | (2,800) | (2,500) | (5,500) | (5,200) | |
Defined Benefit Plan, Amortization of Gains (Losses) | 200 | 1,000 | 300 | 2,100 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | 0 | |||
Defined Benefit Plan Net Periodic Benefit Cost | (300) | 900 | (600) | 2,000 | |
Related Intercompany Allocationsof Defined Benefit Expense | 400 | 1,100 | 900 | 2,200 | |
Amount Capitalized Defined Benefit Expense | (100) | 500 | (100) | 1,000 | |
NSTAR Electric Company [Member] | |||||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||||
Accrued Pension, SERP and PBOP | 220,000 | 220,000 | 235,529 | ||
NSTAR Electric Company [Member] | Pension Plans Defined Benefit Member | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Service Cost | 3,700 | 3,000 | 7,500 | 7,600 | |
Defined Benefit Plan Interest Cost | 10,000 | 10,300 | 20,100 | 20,600 | |
Defined Benefit Plan, Expected Return on Plan Assets | (17,500) | (15,700) | (35,100) | (31,500) | |
Defined Benefit Plan, Amortization of Gains (Losses) | 8,700 | 5,900 | 18,400 | 11,700 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | 0 | 0 | 0 | |
Defined Benefit Plan Net Periodic Benefit Cost | 4,900 | 3,500 | 10,900 | 8,400 | |
Related Intercompany Allocationsof Defined Benefit Expense | 3,400 | 1,400 | 6,900 | 3,800 | |
Amount Capitalized Defined Benefit Expense | 2,700 | 1,000 | 5,900 | 2,900 | |
NSTAR Electric Company [Member] | PBOP Plan | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Service Cost | 1,300 | 800 | 2,700 | 1,600 | |
Defined Benefit Plan Interest Cost | 4,700 | 4,800 | 9,500 | 9,700 | |
Defined Benefit Plan, Expected Return on Plan Assets | (6,900) | (6,500) | (13,700) | (13,000) | |
Defined Benefit Plan, Amortization of Gains (Losses) | 400 | (200) | 1,200 | (300) | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | (100) | (500) | (100) | (900) | |
Defined Benefit Plan Net Periodic Benefit Cost | (600) | (1,600) | (400) | (2,900) | |
Related Intercompany Allocationsof Defined Benefit Expense | 200 | 0 | 400 | 100 | |
Amount Capitalized Defined Benefit Expense | (200) | (500) | (100) | (1,000) | |
Public Service Company Of New Hampshire [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | ||||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||||
Accrued Pension, SERP and PBOP | 99,318 | 99,318 | 93,243 | ||
Public Service Company Of New Hampshire [Member] | Pension Plans Defined Benefit Member | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Service Cost | 3,100 | 2,300 | 6,000 | 5,100 | |
Defined Benefit Plan Interest Cost | 6,100 | 5,800 | 12,100 | 12,300 | |
Defined Benefit Plan, Expected Return on Plan Assets | (10,100) | (9,300) | (20,200) | (19,500) | |
Defined Benefit Plan, Amortization of Gains (Losses) | 2,900 | 2,800 | 5,800 | 6,000 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 100 | 100 | 200 | 300 | |
Defined Benefit Plan Net Periodic Benefit Cost | 2,100 | 1,700 | 3,900 | 4,200 | |
Related Intercompany Allocationsof Defined Benefit Expense | 1,600 | 2,100 | 3,400 | 4,200 | |
Amount Capitalized Defined Benefit Expense | 900 | 800 | 1,700 | 1,700 | |
Public Service Company Of New Hampshire [Member] | PBOP Plan | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Service Cost | 300 | 300 | 700 | 700 | |
Defined Benefit Plan Interest Cost | 1,000 | 1,000 | 1,900 | 2,100 | |
Defined Benefit Plan, Expected Return on Plan Assets | (1,500) | (1,300) | (3,000) | (2,700) | |
Defined Benefit Plan, Amortization of Gains (Losses) | 100 | 600 | 300 | 1,100 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | 0 | |||
Defined Benefit Plan Net Periodic Benefit Cost | (100) | 600 | (100) | 1,200 | |
Related Intercompany Allocationsof Defined Benefit Expense | 100 | 300 | 200 | 600 | |
Amount Capitalized Defined Benefit Expense | 0 | 200 | 100 | 400 | |
Western Massachusetts Electric Company [Member] | |||||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||||
Accrued Pension, SERP and PBOP | 19,530 | 19,530 | $ 17,705 | ||
Western Massachusetts Electric Company [Member] | Pension Plans Defined Benefit Member | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Service Cost | 1,000 | 800 | 2,200 | 1,900 | |
Defined Benefit Plan Interest Cost | 2,600 | 2,500 | 5,200 | 5,200 | |
Defined Benefit Plan, Expected Return on Plan Assets | (4,700) | (4,400) | (9,400) | (9,000) | |
Defined Benefit Plan, Amortization of Gains (Losses) | 1,600 | 1,700 | 3,200 | 3,500 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 100 | 100 | 100 | 200 | |
Defined Benefit Plan Net Periodic Benefit Cost | 600 | 700 | 1,300 | 1,800 | |
Related Intercompany Allocationsof Defined Benefit Expense | 1,100 | 1,400 | 2,300 | 2,700 | |
Amount Capitalized Defined Benefit Expense | 500 | 600 | 1,000 | 1,400 | |
Western Massachusetts Electric Company [Member] | PBOP Plan | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||||
Defined Benefit Plan Service Cost | 100 | 100 | 200 | 200 | |
Defined Benefit Plan Interest Cost | 300 | 400 | 800 | 800 | |
Defined Benefit Plan, Expected Return on Plan Assets | (600) | (600) | (1,300) | (1,100) | |
Defined Benefit Plan, Amortization of Gains (Losses) | 0 | 100 | 0 | 200 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | 0 | |||
Defined Benefit Plan Net Periodic Benefit Cost | (200) | 0 | (300) | ||
Related Intercompany Allocationsof Defined Benefit Expense | 100 | 200 | 200 | 400 | |
Amount Capitalized Defined Benefit Expense | $ 0 | $ 0 | $ (100) | $ 100 |
Environmental Matters (Details)
Environmental Matters (Details) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | |
Site Contingency [Line Items] | ||
Environmental Site Quantity | 65 | 65 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | $ 43.3 | |
Ending Balance | 46.2 | $ 43.3 |
MGP Site accrual [Member] | ||
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | 38.8 | |
Ending Balance | $ 40 | $ 38.8 |
The Connecticut Light And Power Company [Member] | ||
Site Contingency [Line Items] | ||
Environmental Site Quantity | 15 | 16 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | $ 3.8 | |
Ending Balance | $ 4.9 | $ 3.8 |
NSTAR Electric Company [Member] | ||
Site Contingency [Line Items] | ||
Environmental Site Quantity | 14 | 13 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | $ 1.1 | |
Ending Balance | $ 2.3 | $ 1.1 |
Public Service Company Of New Hampshire [Member] | ||
Site Contingency [Line Items] | ||
Environmental Site Quantity | 12 | 13 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | $ 5.2 | |
Ending Balance | $ 3.4 | $ 5.2 |
Western Massachusetts Electric Company [Member] | ||
Site Contingency [Line Items] | ||
Environmental Site Quantity | 4 | 4 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | $ 0.5 | |
Ending Balance | $ 0.6 | $ 0.5 |
Guarantees and Indemnificatio49
Guarantees and Indemnifications (Details) $ in Millions | Jun. 30, 2015USD ($) |
Guarantee Of Financial Obligations Of Npt [Member] | |
Guarantee Obligations [Line Items] | |
Guarantee Obligations Maximum Exposure | $ 25 |
Various Subsidiary Surety Bonds And Performance Guarantees Expiring Between 2015 And 2016 [Member] | |
Guarantee Obligations [Line Items] | |
Guarantee Obligations Maximum Exposure | 33.8 |
Guarantee Of Rocky River Reality And Nusco Lease Payments For Real Estate And Vehicles Expiring 2019 Through 2024 [Member] | |
Guarantee Obligations [Line Items] | |
Guarantee Obligations Maximum Exposure | 12.7 |
Guarantee To Purchaser Of Es Boulos Company And A Bonding Company Expiring In 2016 And 2020 [Member] | |
Guarantee Obligations [Line Items] | |
Guarantee Obligations Maximum Exposure | $ 42.1 |
Other Contingencies (Details)
Other Contingencies (Details) - Jun. 30, 2015 - USD ($) $ in Millions | Total | Total |
Loss Contingencies Line Items | ||
Public Utilities Disclosure Of Regulatory Matters | 2015 Regulatory Developments: FERC ROE Complaints: As a result of the March 3, 2015 FERC order in the pending ROE complaint proceedings described in Note 8C, "Commitments and Contingencies – FERC ROE Complaints," in 2015, Eversource recognized a pre-tax charge to earnings (excluding interest) of $20 million, of which $12.5 million was recorded at CL&P, $2.4 million at NSTAR Electric, $1 million at PSNH, and $4.1 million at WMECO. The pre-tax charge was recorded as a regulatory liability and as a reduction to Operating Revenues. NSTAR Electric and NSTAR Gas 2014 Comprehensive Settlement Agreement: On March 2, 2015, the DPU approved the comprehensive settlement agreement between NSTAR Electric, NSTAR Gas and the Massachusetts Attorney General (the "Settlement") as filed with the DPU on December 31, 2014. The Settlement resolved the outstanding NSTAR Electric CPSL program filings for 2006 through 2011, the NSTAR Electric and NSTAR Gas PAM and energy efficiency-related customer billing adjustments reported in 2012, and the recovery of LBR related to NSTAR Electric's energy efficiency programs for 2009 through 2011 (11 dockets in total). In 2015, as a result of the DPU order, NSTAR Electric and NSTAR Gas commenced refunding a combined $44.7 million to customers, which was recorded as a regulatory liability. NSTAR Electric recognized a $21.7 million pre-tax benefit in the first half of 2015 as a result of the approval of the Settlement. NSTAR Electric Basic Service Bad Debt Adder: On January 7, 2015, the DPU issued an order concluding that NSTAR Electric had removed energy-related bad debt costs from base distribution rates effective January 1, 2006. The DPU ordered NSTAR Electric and the Massachusetts Attorney General to collaborate on the reconciliations of energy-related bad debt costs through 2014. As a result of the DPU order, NSTAR Electric increased its regulatory assets and reduced operations and maintenance expense by $24.2 million in the first quarter, resulting in after-tax earnings of $14.5 million. On May 5, 2015, NSTAR Electric filed for recovery of the energy-related bad debt costs regulatory asset from customers beginning July 1, 2015. On June 24, 2015, the DPU delayed the effective date of NSTAR Electric’s proposed rate increase from July 1, 2015 to November 1, 2015 to allow for the DPU staff to review the reconciliations. The established procedural schedule is expected to result in an approval of the proposed rate increase in the fourth quarter of 2015. CL&P Distribution Rates: On December 17, 2014, PURA granted a re-opener request to CL&P’s base distribution rate application for further review of the appropriate balance of ADIT utilized in the calculation of rate base. On July 2, 2015, PURA issued a final order that approved a settlement agreement filed on May 19, 2015 between CL&P and the PURA Prosecutorial Staff. The order allows for an increase to rate base of approximately $166 million associated with ADIT, including a regulatory asset to recover the incremental revenue requirement for the period December 1, 2014 through November 30, 2015 over a subsequent two-year period. The rate base increase provided an increase to total allowed annual revenue requirements of $18.4 million beginning December 1, 2014. Of that amount, $10.7 million has been recorded as a regulatory asset in June 2015, with a corresponding increase in Operating Revenues. The remaining $7.7 million will be recorded from July 2015 through November 2015. The aggregate amount will be collected from customers in rates over a 24-month period commencing on December 1, 2015. | |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Loss in Period | $ 20 | |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | The Connecticut Light And Power Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Loss in Period | 12.5 | |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | NSTAR Electric Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Loss in Period | 2.4 | |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | Public Service Company Of New Hampshire [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Loss in Period | 1 | |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | Western Massachusetts Electric Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Loss in Period | $ 4.1 |
FAIR VALUE OF FINANCIAL INSTR51
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | $ 155,568 | $ 155,568 |
Carrying Reported Amount Fair Value Disclosure [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 155,600 | 155,600 |
Other Long Term Debt | 8,968,500 | 8,851,600 |
Estimate Of Fair Value Fair Value Disclosure [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 154,800 | 153,600 |
Other Long Term Debt | 9,329,900 | 9,451,200 |
The Connecticut Light And Power Company [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 116,200 | 116,200 |
The Connecticut Light And Power Company [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 116,200 | 116,200 |
Other Long Term Debt | 2,975,100 | 2,842,000 |
The Connecticut Light And Power Company [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 113,000 | 112,000 |
Other Long Term Debt | 3,242,900 | 3,214,500 |
NSTAR Electric Company [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 43,000 | 43,000 |
NSTAR Electric Company [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 43,000 | 43,000 |
Other Long Term Debt | 1,792,700 | 1,797,400 |
NSTAR Electric Company [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 41,800 | 41,600 |
Other Long Term Debt | 1,916,600 | 1,993,500 |
Public Service Company Of New Hampshire [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Other Long Term Debt | 1,076,300 | 1,076,300 |
Public Service Company Of New Hampshire [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Other Long Term Debt | 1,133,000 | 1,137,900 |
Western Massachusetts Electric Company [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Other Long Term Debt | 628,000 | 628,500 |
Western Massachusetts Electric Company [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Other Long Term Debt | $ 658,000 | $ 689,400 |
ACCUMULATED OTHER COMPREHENSI52
ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||||
AOCI Beginning Balance | $ (74,009) | $ (46,000) | ||
Other Comprehensive Income Before Reclassifications, Net of Tax | (1,500) | 1,700 | ||
Reclassification From OCI, Net Of Tax | 3,500 | 2,800 | ||
Other Comprehensive Income (Loss), Net of Tax, Total | $ 381 | $ 2,814 | 1,976 | 4,524 |
AOCI Ending Balance | (72,033) | (41,500) | (72,033) | (41,500) |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ||||
Total Interest Expense | (92,259) | (92,495) | (187,102) | (182,471) |
Income Tax Expense | (123,268) | (77,774) | (276,494) | (219,319) |
Net Income Attributable to Controlling Interests | 207,507 | 127,367 | 460,761 | 363,324 |
The Connecticut Light And Power Company [Member] | ||||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||||
AOCI Beginning Balance | (931) | |||
Other Comprehensive Income (Loss), Net of Tax, Total | 68 | 118 | 183 | 237 |
AOCI Ending Balance | (748) | (748) | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ||||
Total Interest Expense | (36,124) | (37,470) | (72,748) | (71,713) |
Income Tax Expense | (43,129) | (20,401) | (81,276) | (65,942) |
Public Service Company Of New Hampshire [Member] | ||||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||||
AOCI Beginning Balance | (7,369) | |||
Other Comprehensive Income (Loss), Net of Tax, Total | 215 | 303 | 514 | 607 |
AOCI Ending Balance | (6,855) | (6,855) | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ||||
Total Interest Expense | (11,662) | (10,999) | (22,935) | (22,971) |
Income Tax Expense | (15,701) | (14,897) | (35,977) | (34,597) |
Western Massachusetts Electric Company [Member] | ||||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||||
AOCI Beginning Balance | (3,176) | |||
Other Comprehensive Income (Loss), Net of Tax, Total | 72 | 86 | 158 | 173 |
AOCI Ending Balance | (3,018) | (3,018) | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ||||
Total Interest Expense | (6,291) | (6,707) | (13,112) | (12,353) |
Income Tax Expense | (9,693) | (4,548) | (18,807) | (16,106) |
Qualified Cash Flow Hedging Instruments [Member] | ||||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||||
AOCI Beginning Balance | (12,400) | (14,400) | ||
Reclassification From OCI, Net Of Tax | 1,000 | 1,000 | ||
Other Comprehensive Income (Loss), Net of Tax, Total | 1,000 | 1,000 | ||
AOCI Ending Balance | (11,400) | (13,400) | (11,400) | (13,400) |
Unrealized Gains Losses on Available for Sale Securities [Member] | ||||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||||
AOCI Beginning Balance | 700 | 400 | ||
Other Comprehensive Income Before Reclassifications, Net of Tax | (1,100) | 500 | ||
Other Comprehensive Income (Loss), Net of Tax, Total | (1,100) | 500 | ||
AOCI Ending Balance | (400) | 900 | (400) | 900 |
Pension, SERP and PBOP Benefit Plans [Member] | ||||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||||
AOCI Beginning Balance | (62,300) | (32,000) | ||
Other Comprehensive Income Before Reclassifications, Net of Tax | (400) | 1,200 | ||
Reclassification From OCI, Net Of Tax | 2,500 | 1,800 | ||
Other Comprehensive Income (Loss), Net of Tax, Total | 2,100 | 3,000 | ||
AOCI Ending Balance | $ (60,200) | $ (29,000) | $ (60,200) | $ (29,000) |
COMMON SHARES (Details)
COMMON SHARES (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Class Of Stock [Line Items] | ||
Common Stock Par Or Stated Value Per Share | $ 5 | $ 5 |
Common Stock Shares Authorized | 380,000,000 | 380,000,000 |
Common Stock Shares Issued | 333,833,308 | 333,359,172 |
Treasury Stock Shares | 16,671,366 | 16,375,835 |
Common Stock, Shares, Outstanding | 317,161,942 | 316,983,337 |
Treasury Stock Shares Acquired | 532,521 | |
The Connecticut Light And Power Company [Member] | ||
Class Of Stock [Line Items] | ||
Common Stock Par Or Stated Value Per Share | $ 10 | $ 10 |
Common Stock Shares Authorized | 24,500,000 | 24,500,000 |
Common Stock Shares Issued | 6,035,205 | 6,035,205 |
NSTAR Electric Company [Member] | ||
Class Of Stock [Line Items] | ||
Common Stock Par Or Stated Value Per Share | $ 1 | $ 1 |
Common Stock Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock Shares Issued | 100 | 100 |
Public Service Company Of New Hampshire [Member] | ||
Class Of Stock [Line Items] | ||
Common Stock Par Or Stated Value Per Share | $ 1 | $ 1 |
Common Stock Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock Shares Issued | 301 | 301 |
Western Massachusetts Electric Company [Member] | ||
Class Of Stock [Line Items] | ||
Common Stock Par Or Stated Value Per Share | $ 25 | $ 25 |
Common Stock Shares Authorized | 1,072,471 | 1,072,471 |
Common Stock Shares Issued | 434,653 | 434,653 |
EARNINGS PER SHARE (Details)
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Notes To Consolidated Financial Statements [Abstract] | ||||
Net Income Attributable to Controlling Interests | $ 207,507 | $ 127,367 | $ 460,761 | $ 363,324 |
Basic | 317,613,166 | 315,950,510 | 317,352,004 | 315,742,511 |
Weighted Average Number Diluted Shares Outstanding Adjustment | 946,402 | 1,162,291 | 1,173,374 | 1,259,950 |
Diluted | 318,559,568 | 317,112,801 | 318,525,378 | 317,002,461 |
Earnings Per Share Basic And Diluted | $ 0.65 | $ 0.40 | $ 1.45 | $ 1.15 |
SEGMENT INFORMATION (Details)
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||
Operating Revenues | $ 1,817,061 | $ 1,677,614 | $ 4,330,491 | $ 3,968,204 | |
Operating Income | 412,015 | 293,990 | 909,490 | 761,679 | |
Total Interest Expense | (92,259) | (92,495) | (187,102) | (182,471) | |
Other Income/(Loss), Net | 12,899 | 5,526 | 18,626 | 7,194 | |
Income Tax Expense | (123,268) | (77,774) | (276,494) | (219,319) | |
Net Income | 209,387 | 129,247 | 464,520 | 367,083 | |
Net Income Attributable to Noncontrolling Interests | (1,880) | (1,880) | (3,759) | (3,759) | |
Net Income Attributable to Controlling Interests | 207,507 | 127,367 | 460,761 | 363,324 | |
Total Assets | 29,879,939 | 29,879,939 | $ 29,777,975 | ||
Investments in Property, Plant and Equipment | 740,379 | 724,043 | |||
Electric Distribution Member | |||||
Segment Reporting Information [Line Items] | |||||
Operating Revenues | 1,382,700 | 1,261,800 | 3,142,800 | 2,847,800 | |
Depreciation And Amortization | (98,500) | (89,300) | (257,600) | (238,200) | |
Operating Expenses, Other | (1,052,100) | (991,500) | (2,395,000) | (2,202,400) | |
Operating Income | 232,100 | 181,000 | 490,200 | 407,200 | |
Total Interest Expense | (45,600) | (47,200) | (93,200) | (94,600) | |
Other Income/(Loss), Net | 5,500 | 2,900 | 7,600 | 4,300 | |
Net Income Attributable to Controlling Interests | 120,900 | 83,400 | 251,400 | 195,600 | |
Total Assets | 17,872,900 | 17,872,900 | 17,563,400 | ||
Investments in Property, Plant and Equipment | 319,800 | 335,600 | |||
Natural Gas Distribution [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating Revenues | 186,000 | 195,500 | 693,400 | 628,300 | |
Depreciation And Amortization | (17,700) | (16,900) | (35,900) | (34,600) | |
Operating Expenses, Other | (150,200) | (166,500) | (538,700) | (487,900) | |
Operating Income | 18,100 | 12,100 | 118,800 | 105,800 | |
Total Interest Expense | (9,100) | (8,700) | (18,100) | (17,100) | |
Other Income/(Loss), Net | 300 | 0 | 100 | 100 | |
Net Income Attributable to Controlling Interests | 5,300 | 2,000 | 61,000 | 54,100 | |
Total Assets | 2,933,400 | 2,933,400 | 3,030,900 | ||
Investments in Property, Plant and Equipment | 67,500 | 68,600 | |||
Electric Transmission [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating Revenues | 267,800 | 206,900 | 516,800 | 458,900 | |
Depreciation And Amortization | (39,700) | (37,000) | (80,100) | (74,000) | |
Operating Expenses, Other | (73,100) | (71,000) | (147,200) | (137,300) | |
Operating Income | 155,000 | 98,900 | 289,500 | 247,600 | |
Total Interest Expense | (26,300) | (28,800) | (53,900) | (54,300) | |
Other Income/(Loss), Net | 5,100 | 2,700 | 8,100 | 4,200 | |
Net Income Attributable to Controlling Interests | 80,400 | 43,900 | 147,000 | 118,800 | |
Total Assets | 7,589,700 | 7,589,700 | 7,625,600 | ||
Investments in Property, Plant and Equipment | 328,700 | 289,300 | |||
Other Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating Revenues | 203,700 | 184,700 | 443,700 | 356,900 | |
Depreciation And Amortization | (7,100) | (7,700) | (14,300) | (14,700) | |
Operating Expenses, Other | (190,700) | (174,900) | (419,900) | (340,300) | |
Operating Income | 5,900 | 2,100 | 9,500 | 1,900 | |
Total Interest Expense | (12,400) | (9,100) | (24,100) | (18,700) | |
Other Income/(Loss), Net | 220,100 | 137,700 | 535,000 | 432,400 | |
Net Income Attributable to Controlling Interests | 217,000 | 133,300 | 529,900 | 424,900 | |
Total Assets | 12,455,700 | 12,455,700 | 12,682,500 | ||
Investments in Property, Plant and Equipment | 24,400 | 30,500 | |||
Eliminations Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating Revenues | (223,100) | (171,300) | (466,200) | (323,700) | |
Depreciation And Amortization | 500 | 2,300 | 1,000 | 4,100 | |
Operating Expenses, Other | 223,500 | 168,900 | 466,700 | 318,800 | |
Operating Income | 900 | (100) | 1,500 | (800) | |
Total Interest Expense | 1,100 | 1,300 | 2,200 | 2,200 | |
Other Income/(Loss), Net | (218,100) | (137,800) | (532,200) | (433,800) | |
Net Income Attributable to Controlling Interests | (216,100) | (135,200) | (528,500) | (430,100) | |
Total Assets | (10,971,800) | (10,971,800) | (11,124,400) | ||
Investments in Property, Plant and Equipment | 0 | 0 | |||
Total [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating Revenues | 1,817,100 | 1,677,600 | 4,330,500 | 3,968,200 | |
Depreciation And Amortization | (162,500) | (148,600) | (386,900) | (357,400) | |
Operating Expenses, Other | (1,242,600) | (1,235,000) | (3,034,100) | (2,849,100) | |
Operating Income | 412,000 | 294,000 | 909,500 | 761,700 | |
Total Interest Expense | (92,300) | (92,500) | (187,100) | (182,500) | |
Other Income/(Loss), Net | 12,900 | 5,500 | 18,600 | 7,200 | |
Net Income Attributable to Controlling Interests | 207,500 | $ 127,400 | 460,800 | 363,300 | |
Total Assets | $ 29,879,900 | 29,879,900 | $ 29,778,000 | ||
Investments in Property, Plant and Equipment | $ 740,400 | $ 724,000 |