COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

COMMON SHARES

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  

	Shares
			Authorized as of		Issued as of
	Par Value		June 30, 2023	December 31, 2022	June 30, 2023	December 31, 2022
Eversource	$	5	410,000,000	380,000,000	359,984,073	359,984,073
CL&P	$	10	24,500,000	24,500,000	6,035,205	6,035,205
NSTAR Electric	$	1	100,000,000	100,000,000	200	200
PSNH	$	1	100,000,000	100,000,000	301	301

Treasury Shares: As of June 30, 2023 and December 31, 2022, there were 10,962,137 and 11,540,218 Eversource common shares held as treasury shares, respectively. As of June 30, 2023 and December 31, 2022, there were 349,021,936 and 348,443,855 Eversource common shares outstanding, respectively.

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment and share purchase plan, and matching contributions under the Eversource 401k Plan. Eversource also issued treasury shares for its October 2022 water business acquisition. The issuance of treasury shares represents a non-cash transaction, as the treasury shares were used to fulfill Eversource's obligations that require the issuance of common shares.

On May 3, 2023, shareholders voted to increase the authorized common shares from 380,000,000 shares to 410,000,000 shares.

COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTSDividends on the preferred stock of CL&P and NSTAR Electric totaled $1.9 million for each of the three months ended June 30, 2023 and 2022 and $3.8 million for each of the six months ended June 30, 2023 and 2022. These dividends were presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Noncontrolling Interest – Preferred Stock of Subsidiaries on the Eversource balance sheets totaled $155.6 million as of June 30, 2023 and December 31, 2022. On the Eversource balance sheets, Common Shareholders' Equity was fully attributable to Eversource parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest.