PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

6 Months Ended

Jun. 30, 2023

Postemployment Benefits [Abstract]

PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONEversource provides defined benefit retirement plans (Pension Plans) that cover eligible employees.  In addition to the Pension Plans, Eversource maintains non-qualified defined benefit retirement plans (SERP Plans), which provide benefits in excess of Internal Revenue Code limitations to eligible participants consisting of current and retired employees. Eversource also provides defined benefit postretirement plans (PBOP Plans) that provide life insurance and a health reimbursement arrangement created for the purpose of reimbursing retirees and dependents for health insurance premiums and certain medical expenses to eligible employees that meet certain age and service eligibility requirements.The components of net periodic benefit plan expense/(income) for the Pension, SERP and PBOP Plans, prior to amounts capitalized as Property, Plant and Equipment or deferred as regulatory assets/(liabilities) for future recovery or refund, are shown below.  The service cost component of net periodic benefit plan expense/(income), less the capitalized portion, is included in Operations and Maintenance expense on the statements of income. The remaining components of net periodic benefit plan expense/(income), less the deferred portion, are included in Other Income, Net on the statements of income. Pension, SERP and PBOP expense reflected in the statements of cash flows for CL&P, NSTAR Electric and PSNH does not include intercompany allocations of net periodic benefit plan expense/(income), as these amounts are cash settled on a short-term basis.

	Pension and SERP								PBOP
	For the Three Months Ended June 30, 2023								For the Three Months Ended June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	10.7	$	3.1	$	1.9	$	1.1	$	2.0	$	0.3	$	0.3	$	0.2
Interest Cost	63.5		12.7		13.5		6.8		8.4		1.5		2.3		0.9
Expected Return on Plan Assets	(116.5)		(23.7)		(28.5)		(12.5)		(19.5)		(2.3)		(9.3)		(1.4)
Actuarial Loss	11.6		0.6		4.0		0.4		—		—		—		—
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.4)		0.3		(4.3)		0.1
Settlement Loss	3.7		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(26.7)	$	(7.3)	$	(9.0)	$	(4.2)	$	(14.5)	$	(0.2)	$	(11.0)	$	(0.2)
Intercompany Income Allocations	N/A		(0.6)		(0.4)		(0.1)		N/A		(0.4)		(0.5)		(0.1)
	Pension and SERP								PBOP
	For the Six Months Ended June 30, 2023								For the Six Months Ended June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	21.7	$	6.1	$	4.0	$	2.2	$	3.8	$	0.6	$	0.6	$	0.4
Interest Cost	127.2		25.3		27.0		13.6		16.9		3.1		4.6		1.8
Expected Return on Plan Assets	(232.4)		(47.1)		(56.9)		(24.8)		(38.6)		(4.7)		(18.5)		(2.8)
Actuarial Loss	24.1		1.4		8.9		0.8		—		—		—		—
Prior Service Cost/(Credit)	0.6		—		0.2		—		(10.8)		0.6		(8.5)		0.2
Settlement Loss	3.7		—		—		—		—		—		—		—
Total Net Periodic Benefit Plan Income	$	(55.1)	$	(14.3)	$	(16.8)	$	(8.2)	$	(28.7)	$	(0.4)	$	(21.8)	$	(0.4)
Intercompany Income Allocations	N/A		(2.6)		(2.1)		(0.6)		N/A		(0.9)		(1.1)		(0.3)
	Pension and SERP								PBOP
	For the Three Months Ended June 30, 2022								For the Three Months Ended June 30, 2022
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	17.5	$	4.7	$	3.4	$	1.7	$	3.0	$	0.5	$	0.5	$	0.3
Interest Cost	38.6		7.8		8.2		4.2		5.1		0.9		1.3		0.6
Expected Return on Plan Assets	(130.7)		(26.5)		(32.1)		(14.0)		(22.6)		(2.8)		(10.6)		(1.7)
Actuarial Loss	28.4		4.0		8.1		1.9		—		—		—		—
Prior Service Cost/(Credit)	0.3		—		0.1		—		(5.4)		0.3		(4.2)		0.1
Total Net Periodic Benefit Plan Income	$	(45.9)	$	(10.0)	$	(12.3)	$	(6.2)	$	(19.9)	$	(1.1)	$	(13.0)	$	(0.7)
Intercompany Income Allocations	N/A		$	(4.1)	$	(3.2)	$	(0.9)	N/A		$	(0.9)	$	(0.9)	$	(0.3)
	Pension and SERP								PBOP
	For the Six Months Ended June 30, 2022								For the Six Months Ended June 30, 2022
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Service Cost	$	35.2	$	9.2	$	7.0	$	3.5	$	5.8	$	1.0	$	1.0	$	0.5
Interest Cost	77.2		15.6		16.3		8.4		10.1		1.8		2.6		1.1
Expected Return on Plan Assets	(262.4)		(53.1)		(64.1)		(28.1)		(45.0)		(5.6)		(21.2)		(3.3)
Actuarial Loss	59.1		8.2		16.6		4.1		—		—		—		—
Prior Service Cost/(Credit)	0.7		—		0.2		—		(10.8)		0.5		(8.5)		0.2
Total Net Periodic Benefit Plan Income	$	(90.2)	$	(20.1)	$	(24.0)	$	(12.1)	$	(39.9)	$	(2.3)	$	(26.1)	$	(1.5)
Intercompany Income Allocations	N/A		$	(7.9)	$	(6.1)	$	(1.7)	N/A		$	(1.8)	$	(1.8)	$	(0.6)