EX-99 4 december2013brokers.htm EXHIBIT 99.2 - BROKER'S STATEMENT Converted by EDGARwiz

Exhibit 99.2


NORTHEAST UTILITIES AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

 

For the Three Months Ended December 31,

(Thousands of Dollars, Except Share Information)

 

2013

 

 

2012

 

 

 

 

 

 

Operating Revenues

$

1,777,729

 

$

1,683,952

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

   Purchased Power, Fuel and Transmission

 

600,962

 

 

544,254

   Operations and Maintenance

 

425,026

 

 

395,600

   Depreciation

 

147,142

 

 

149,212

   Amortization of Regulatory Assets, Net

 

27,653

 

 

4,910

   Amortization of Rate Reduction Bonds

 

-

 

 

39,875

   Energy Efficiency Programs

 

95,910

 

 

104,060

   Taxes Other Than Income Taxes

 

120,384

 

 

114,648

      Total Operating Expenses

 

1,417,077

 

 

1,352,559

Operating Income

 

360,652

 

 

331,393

 

 

 

 

 

 

Interest Expense:

 

 

 

 

 

   Interest on Long-Term Debt

 

84,766

 

 

83,636

   Other Interest

 

3,351

 

 

453

      Interest Expense

 

88,117

 

 

84,089

   Other Income, Net

 

8,239

 

 

4,838

   Income Before Income Tax Expense

 

280,774

 

 

252,142

      Income Tax Expense

 

101,498

 

 

75,547

Net Income

 

179,276

 

 

176,595

Net Income Attributable to Noncontrolling Interests

 

1,879

 

 

1,879

Net Income Attributable to Controlling Interest

$

177,397

 

$

174,716

 

 

 

 

 

 

Basic and Diluted Earnings Per Common Share

$

0.56

 

$

0.55

 

 

 

 

 

 

Weighted Average Common Shares Outstanding:

 

 

 

 

 

   Basic

 

315,647,036

 

 

314,929,366

   Diluted

 

316,637,990

 

 

315,914,389

 

 

 

 

 

 


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)

2013 

 

2012 

 

2011 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues

$

7,301,204 

 

$

6,273,787

 

$

4,465,657

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

Purchased Power, Fuel and Transmission

 

2,482,954 

 

 

2,084,364

 

 

1,657,914

 

Operations and Maintenance

 

1,514,986 

 

 

1,583,070

 

 

1,095,358

 

Depreciation

 

610,777 

 

 

519,010

 

 

302,192

 

Amortization of Regulatory Assets, Net

 

206,322 

 

 

79,762

 

 

91,080

 

Amortization of Rate Reduction Bonds

 

42,581 

 

 

142,019

 

 

69,912

 

Energy Efficiency Programs

 

401,919 

 

 

313,149

 

 

131,415

 

Taxes Other Than Income Taxes

 

512,230 

 

 

434,207

 

 

323,610

 

 

Total Operating Expenses

 

5,771,769 

 

 

5,155,581

 

 

3,671,481

Operating Income

 

1,529,435 

 

 

1,118,206

 

 

794,176

 

 

 

 

 

 

 

 

 

 

 

Interest Expense:

 

 

 

 

 

 

 

 

 

Interest on Long-Term Debt

 

340,970 

 

 

316,987

 

 

231,630

 

Interest on Rate Reduction Bonds

 

422 

 

 

6,168

 

 

8,611

 

Other Interest

 

(2,693)

 

 

6,790

 

 

10,184

 

 

Interest Expense

 

338,699 

 

 

329,945

 

 

250,425

Other Income, Net

 

29,894 

 

 

19,742

 

 

27,715

Income Before Income Tax Expense

 

1,220,630 

 

 

808,003

 

 

571,466

Income Tax Expense

 

426,941 

 

 

274,926

 

 

170,953

Net Income

 

793,689 

 

 

533,077

 

 

400,513

Net Income Attributable to Noncontrolling Interests

 

7,682 

 

 

7,132

 

 

5,820

Net Income Attributable to Controlling Interest

$

786,007 

 

$

525,945

 

$

394,693

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

$

2.49 

 

$

1.90

 

$

2.22

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

$

2.49 

 

$

1.89

 

$

2.22

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Common Shares Outstanding:

 

 

 

 

 

 

 

 

 

Basic

 

315,311,387 

 

 

277,209,819

 

 

177,410,167

 

Diluted

 

316,211,160 

 

 

277,993,631

 

 

177,804,568

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.