EX-99 4 december2014income.htm INCOME 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)

2014

 

2013

 

 

 

 

 

 

Operating Revenues

$

1,881,120 

 

$

1,777,729 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

Purchased Power, Fuel and Transmission

 

702,557 

 

 

600,962 

 

Operations and Maintenance

 

358,574 

 

 

425,026 

 

Depreciation

 

158,433 

 

 

147,142 

 

Amortization of Regulatory Assets/(Liabilities), Net

 

(21,122)

 

 

27,653 

 

Energy Efficiency Programs

 

112,898 

 

 

95,910 

 

Taxes Other Than Income Taxes

 

139,519 

 

 

120,384 

 

 

Total Operating Expenses

 

1,450,859 

 

 

1,417,077 

Operating Income

 

430,261 

 

 

360,652 

 

 

 

 

 

 

 

 

Interest Expense:

 

 

 

 

 

 

Interest on Long-Term Debt

 

84,925 

 

 

84,766 

 

Other Interest

 

4,973 

 

 

3,351 

 

 

Interest Expense

 

89,898 

 

 

88,117 

Other Income, Net

 

5,565 

 

 

8,239 

Income Before Income Tax Expense

 

345,928 

 

 

280,774 

Income Tax Expense

 

122,440 

 

 

101,498 

Net Income

 

223,488 

 

 

179,276 

Net Income Attributable to Noncontrolling Interests

 

1,879 

 

 

1,879 

Net Income Attributable to Controlling Interest

$

221,609 

 

$

177,397 

 

 

 

 

 

 

 

 

Basic and Diluted Earnings Per Common Share

$

0.69 

 

$

0.56 

 

 

 

 

 

 

 

 

Weighted Average Common Shares Outstanding:

 

 

 

 

 

 

Basic

 

316,721,275 

 

 

315,647,036 

 

Diluted

 

318,109,809 

 

 

316,637,990 



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)

2014 

 

2013 

 

2012 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues

$

 7,741,856 

 

$

 7,301,204 

 

$

 6,273,787 

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

Purchased Power, Fuel and Transmission

 

 3,021,550 

 

 

 2,482,954 

 

 

 2,084,364 

 

Operations and Maintenance

 

 1,427,589 

 

 

 1,514,986 

 

 

 1,583,070 

 

Depreciation

 

 614,657 

 

 

 610,777 

 

 

 519,010 

 

Amortization of Regulatory Assets, Net

 

 10,704 

 

 

 206,322 

 

 

 79,762 

 

Amortization of Rate Reduction Bonds

 

 - 

 

 

 42,581 

 

 

 142,019 

 

Energy Efficiency Programs

 

 473,127 

 

 

 401,919 

 

 

 313,149 

 

Taxes Other Than Income Taxes

 

 561,380 

 

 

 512,230 

 

 

 434,207 

 

 

Total Operating Expenses

 

 6,109,007 

 

 

 5,771,769 

 

 

 5,155,581 

Operating Income

 

 1,632,849 

 

 

 1,529,435 

 

 

 1,118,206 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense:

 

 

 

 

 

 

 

 

 

Interest on Long-Term Debt

 

 345,001 

 

 

 340,970 

 

 

 316,987 

 

Interest on Rate Reduction Bonds

 

 - 

 

 

 422 

 

 

 6,168 

 

Other Interest

 

 17,105 

 

 

 (2,693)

 

 

 6,790 

 

 

Interest Expense

 

 362,106 

 

 

 338,699 

 

 

 329,945 

Other Income, Net

 

 24,619 

 

 

 29,894 

 

 

 19,742 

Income Before Income Tax Expense

 

 1,295,362 

 

 

 1,220,630 

 

 

 808,003 

Income Tax Expense

 

 468,297 

 

 

 426,941 

 

 

 274,926 

Net Income

 

 827,065 

 

 

 793,689 

 

 

 533,077 

Net Income Attributable to Noncontrolling Interests

 

 7,519 

 

 

 7,682 

 

 

 7,132 

Net Income Attributable to Controlling Interest

$

 819,546 

 

$

 786,007 

 

$

 525,945 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

$

 2.59 

 

$

 2.49 

 

$

 1.90 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

$

 2.58 

 

$

 2.49 

 

$

 1.89 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Common Shares Outstanding:

 

 

 

 

 

 

 

 

 

Basic

 

 316,136,748 

 

 

 315,311,387 

 

 

 277,209,819 

 

Diluted

 

 317,417,414 

 

 

 316,211,160 

 

 

 277,993,631 

 

 

 

 

 

 

 

 

 

 

 

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.