INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)

12 Months Ended

Dec. 31, 2023

Eversource's investments included the following:


				Investment Balance as of December 31,
(Millions of Dollars)	Ownership Interest			2023		2022
Offshore Wind Business	50%	-	100%	$	515.5	$	1,947.1


Natural Gas Pipeline - Algonquin Gas Transmission, LLC	15%			116.0		118.8
Renewable Energy Investment Fund	90%			—		84.1
Other	various			29.0		26.1
Total Investments in Unconsolidated Affiliates				$	660.5	$	2,176.1

A summary of the significant estimates and assumptions included in the 2023 impairment charges is as follows:


	Second Quarter 2023		Fourth Quarter 2023		Total
(Millions of Dollars)
Lower expected sales proceeds across all three wind projects	$	401	$	525	$	926
Expected cost overruns not recovered in the sales price	—		441		441
Loss of sales value from the sale price offered by GIP, including loss of ITC adders value, cancellation costs and other impacts assuming Sunrise Wind project is abandoned	—		800		800
Impairment Charges, pre-tax	401		1,766		2,167
Tax Benefit	(70)		(144)		(214)
Impairment Charges, after-tax	$	331	$	1,622	1,953

A summary of the carrying value by investee and by project as of December 31, 2023 is as follows:


	Investments Expected to be Disposed of						Investment to be Held
	North East Offshore				South Fork Class B Member, LLC		South Fork Wind Holdings, LLC Class A		Total Offshore Wind Investments
(Millions of Dollars)	Sunrise Wind		Revolution Wind
Carrying Value as of December 31, 2023, before Impairment Charge	$	699	$	799	$	299	$	485	$	2,282
Fourth Quarter 2023 Impairment Charge	(1,218)		(544)		—		(4)		(1,766)
Carrying Value as of December 31, 2023	$	(519)	$	255	$	299	$	481	$	516