Eversource Energy (ES) 8-K NU Reports Year-End 2012 Results

EXHIBIT 99.2

NORTHEAST UTILITIES AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
		As of December 31,
(Thousands of Dollars)		2012		2011
ASSETS
Current Assets:
	Cash and Cash Equivalents	$	45,748	$	6,559
	Receivables, Net		792,822		488,002
	Unbilled Revenues		216,040		175,207
	Fuel, Materials and Supplies		267,713		248,958
	Regulatory Assets		705,025		255,144
	Marketable Securities		91,975		70,970
	Prepayments and Other Current Assets		107,972		112,632
Total Current Assets			2,227,295		1,357,472
Property, Plant and Equipment, Net			16,605,010		10,403,065
Deferred Debits and Other Assets:
	Regulatory Assets		5,132,411		3,267,710
	Goodwill		3,519,401		287,591
	Marketable Securities		400,329		60,311
	Derivative Assets		90,612		98,357
	Other Long-Term Assets		327,766		172,560
Total Deferred Debits and Other Assets			9,470,519		3,886,529
Total Assets		$	28,302,824	$	15,647,066

The data contained in this report is preliminary and is unaudited. This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus or intended for use in connection with any purchase or sale of securities.

NORTHEAST UTILITIES AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
		As of December 31,
(Thousands of Dollars)		2012		2011
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable		$	1,120,196	$	317,000
Long-Term Debt - Current Portion			763,338		331,582
Accounts Payable			764,350		633,282
Regulatory Liabilities			134,115		167,844
Derivative Liabilities			117,194		107,558
Other Current Liabilities			744,497		390,416
Total Current Liabilities			3,643,690		1,947,682
Rate Reduction Bonds			82,139		112,260
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes			3,463,347		1,868,316
Regulatory Liabilities			540,162		266,145
Derivative Liabilities			882,654		959,876
Accrued Pension, SERP and PBOP			2,130,497		1,326,037
Other Long-Term Liabilities			967,561		420,011
Total Deferred Credits and Other Liabilities			7,984,221		4,840,385
Capitalization:
Long-Term Debt			7,200,156		4,614,913
Noncontrolling Interest - Preferred Stock of Subsidiaries			155,568		116,200
Equity:
	Common Shareholders' Equity:
	Common Shares		1,662,547		980,264
	Capital Surplus, Paid In		6,183,267		1,797,884
	Retained Earnings		1,802,714		1,651,875
	Accumulated Other Comprehensive Loss		(72,854)		(70,686)
	Treasury Stock		(338,624)		(346,667)
Common Shareholders' Equity			9,237,050		4,012,670
Noncontrolling Interests			-		2,956
Total Equity			9,237,050		4,015,626
Total Capitalization			16,592,774		8,746,739
Total Liabilities and Capitalization		$	28,302,824	$	15,647,066

The data contained in this report is preliminary and is unaudited. This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus or intended for use in connection with any purchase or sale of securities.

NORTHEAST UTILITIES AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	For the Three Months Ended December 31,
(Thousands of Dollars, Except Share Information)		2012		2011
Operating Revenues	$	1,683,952	$	1,068,033
Operating Expenses:
Purchased Power, Fuel and Transmission		544,254		372,431
Operations and Maintenance		395,600		306,484
Depreciation		149,212		79,408
Amortization of Regulatory Assets, Net		4,910		4,427
Amortization of Rate Reduction Bonds		39,875		17,865
Energy Efficiency Programs		104,060		31,757
Taxes Other Than Income Taxes		114,648		70,792
Total Operating Expenses		1,352,559		883,164
Operating Income		331,393		184,869
Interest Expense:
Interest on Long-Term Debt		83,636		59,725
Interest on Rate Reduction Bonds		1,000		1,722
Other Interest		(547)		4,262
Interest Expense		84,089		65,709
Other Income, Net		4,838		8,638
Income Before Income Tax Expense		252,142		127,798
Income Tax Expense		75,547		13,019
Net Income		176,595		114,779
Net Income Attributable to Noncontrolling Interests		1,879		1,480
Net Income Attributable to Controlling Interest	$	174,716	$	113,299
Basic and Diluted Earnings Per Common Share	$	0.55	$	0.64
Dividends Declared Per Common Share	$	0.34	$	0.28
Weighted Average Common Shares Outstanding:
Basic		314,929,366		177,645,092
Diluted		315,914,389		178,093,879

The data contained in this report is preliminary and is unaudited. This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus or intended for use in connection with any purchase or sale of securities.

NORTHEAST UTILITIES AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
			For the Years Ended December 31,
(Thousands of Dollars, Except Share Information)			2012		2011		2010
Operating Revenues			$	6,273,787	$	4,465,657	$	4,898,167
Operating Expenses:
	Purchased Power, Fuel and Transmission			2,084,364		1,657,914		2,034,501
	Operations and Maintenance			1,583,070		1,095,358		1,001,349
	Depreciation			519,010		302,192		300,737
	Amortization of Regulatory Assets, Net			79,762		91,080		90,054
	Amortization of Rate Reduction Bonds			142,019		69,912		232,871
	Energy Efficiency Programs			313,149		131,415		124,023
	Taxes Other Than Income Taxes			434,207		323,610		314,741
		Total Operating Expenses		5,155,581		3,671,481		4,098,276
Operating Income				1,118,206		794,176		799,891
Interest Expense:
	Interest on Long-Term Debt			316,987		231,630		231,089
	Interest on Rate Reduction Bonds			6,168		8,611		20,573
	Other Interest			6,790		10,184		(14,371)
		Interest Expense		329,945		250,425		237,291
Other Income, Net				19,742		27,715		41,916
Income Before Income Tax Expense				808,003		571,466		604,516
Income Tax Expense				274,926		170,953		210,409
Net Income				533,077		400,513		394,107
Net Income Attributable to Noncontrolling Interests				7,132		5,820		6,158
Net Income Attributable to Controlling Interest			$	525,945	$	394,693	$	387,949
Basic Earnings Per Common Share			$	1.90	$	2.22	$	2.20
Diluted Earnings Per Common Share			$	1.89	$	2.22	$	2.19
Weighted Average Common Shares Outstanding:
	Basic			277,209,819		177,410,167		176,636,086
	Diluted			277,993,631		177,804,568		176,885,387

The data contained in this report is preliminary and is unaudited. This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus or intended for use in connection with any purchase or sale of securities.

NORTHEAST UTILITIES AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
			For the Years Ended December 31,
(Thousands of Dollars)			2012		2011		2010
Operating Activities:
	Net Income		$	533,077	$	400,513	$	394,107
	Adjustments to Reconcile Net Income to Net Cash Flows
		Provided by Operating Activities:
		Bad Debt Expense		36,275		16,420		31,352
		Depreciation		519,010		302,192		300,737
		Deferred Income Taxes		292,000		196,761		210,939
		Pension, SERP and PBOP Expense		218,540		133,000		103,861
		Pension and PBOP Contributions		(295,028)		(191,101)		(90,633)
		Regulatory (Under)/Over Recoveries, Net		(259,853)		(70,863)		26,289
		Amortization of Regulatory Assets, Net		79,762		91,080		90,054
		Amortization of Rate Reduction Bonds		142,019		69,912		232,871
		Derivative Assets and Liabilities		(10,455)		(35,441)		(11,812)
		Other		17,032		(29,751)		(72,151)
	Changes in Current Assets and Liabilities:
		Receivables and Unbilled Revenues, Net		(20,214)		17,570		(51,285)
		Fuel, Materials and Supplies		34,321		(11,033)		38,126
		Taxes Receivable/Accrued, Net		(5,450)		49,642		(82,103)
		Accounts Payable		(128,339)		18,916		(44,355)
		Other Current Assets and Liabilities, Net		8,532		12,569		17,466
Net Cash Flows Provided by Operating Activities				1,161,229		970,386		1,093,463
Investing Activities:
	Investments in Property, Plant and Equipment			(1,472,272)		(1,076,730)		(954,472)
	Proceeds from Sales of Marketable Securities			317,294		149,441		174,865
	Purchases of Marketable Securities			(348,629)		(151,972)		(177,204)
	Proceeds from Sale of Assets			-		46,841		-
	Other Investing Activities			35,683		13,833		(1,157)
Net Cash Flows Used in Investing Activities				(1,467,924)		(1,018,587)		(957,968)
Financing Activities:
	Cash Dividends on Common Shares			(375,047)		(194,555)		(180,542)
	Cash Dividends on Preferred Stock			(7,029)		(5,559)		(5,559)
	Increase in Short-Term Debt			825,000		50,000		166,687
	Issuance of Long-Term Debt			850,000		627,500		145,000
	Retirements of Long-Term Debt			(839,136)		(369,586)		(4,286)
	Retirements of Rate Reduction Bonds			(114,433)		(69,312)		(260,864)
	Other Financing Activities			6,529		(7,123)		512
Net Cash Flows Provided by/(Used in) Financing Activities				345,884		31,365		(139,052)
Net Increase/(Decrease) in Cash and Cash Equivalents				39,189		(16,836)		(3,557)
Cash and Cash Equivalents - Beginning of Year				6,559		23,395		26,952
Cash and Cash Equivalents - End of Year			$	45,748	$	6,559	$	23,395

The data contained in this report is preliminary and is unaudited. This report is being submitted for the sole purpose of providing information to present shareholders about Northeast Utilities and Subsidiaries and is not a representation, prospectus or intended for use in connection with any purchase or sale of securities.