LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Components of Lease Cost

The components of lease cost, prior to amounts capitalized, are as follows:

Eversource	For the Years Ended December 31,
(Millions of Dollars)	2023		2022		2021
Finance Lease Cost:
Amortization of Right-of-use-Assets	$	4.8	$	8.3	$	4.6
Interest on Lease Liabilities	2.0		2.0		3.9
Total Finance Lease Cost	6.8		10.3		8.5
Operating Lease Cost	11.4		11.6		12.2
Variable Lease Cost	69.2		78.1		61.0
Total Lease Cost	$	87.4	$	100.0	$	81.7

	For the Years Ended December 31,
	2023						2022						2021
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Finance Lease Cost:
Amortization of Right-of-use-Assets	$	—	$	0.2	$	—	$	—	$	0.2	$	0.1	$	0.5	$	0.2	$	0.1
Interest on Lease Liabilities	—		0.6		—		—		0.6		—		0.1		0.6		—
Total Finance Lease Cost	—		0.8		—		—		0.8		0.1		0.6		0.8		0.1
Operating Lease Cost	0.7		3.0		0.4		0.3		2.3		0.1		0.3		2.3		0.1
Variable Lease Cost	21.9		—		47.3		25.6		—		52.5		16.2		—		44.8
Total Lease Cost	$	22.6	$	3.8	$	47.7	$	25.9	$	3.1	$	52.7	$	17.1	$	3.1	$	45.0

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

		As of December 31, 2023								As of December 31, 2022
(Millions of Dollars)	Balance Sheet Classification	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Operating Leases:
Right-of-use-Assets, Net	Other Long-Term Assets	$	53.5	$	2.2	$	27.7	$	4.7	$	56.9	$	2.2	$	22.5	$	—
Operating Lease Liabilities
Current Portion	Other Current Liabilities	$	9.5	$	0.8	$	2.2	$	1.5	$	9.0	$	0.6	$	1.2	$	—
Long-Term	Other Long-Term Liabilities	44.0		1.4		25.5		3.2		47.9		1.6		21.3		—
Total Operating Lease Liabilities		$	53.5	$	2.2	$	27.7	$	4.7	$	56.9	$	2.2	$	22.5	$	—
Finance Leases:
Right-of-use-Assets, Net	Property, Plant and Equipment, Net	$	68.6	$	18.3	$	3.0	$	—	$	54.5	$	—	$	3.2	$	—
Finance Lease Liabilities
Current Portion	Other Current Liabilities	$	5.4	$	1.4	$	—	$	—	$	3.8	$	—	$	—	$	—
Long-Term	Other Long-Term Liabilities	67.3		16.9		4.9		—		54.2		—		4.9		—
Total Finance Lease Liabilities		$	72.7	$	18.3	$	4.9	$	—	$	58.0	$	—	$	4.9	$	—

Other Information Related to Leases

Other information related to leases is as follows:

	As of December 31,
	2023								2022
	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Weighted-Average Remaining Lease Term (Years):
Operating Leases	9		4		13		3		11		4		17		—
Finance Leases	13		9		18		—		15		—		19		—
Weighted-Average Discount Rate (Percentage):
Operating Leases	4.0	%	5.2	%	4.2	%	5.2	%	3.2	%	3.8	%	4.0	%	—	%
Finance Leases	3.3	%	5.3	%	2.9	%	—	%	2.7	%	—	%	2.9	%	—	%

(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH
For the Year Ended December 31, 2023
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating Cash Flows from Operating Leases	$	10.5	$	0.7	$	2.5	$	0.4
Operating Cash Flows from Finance Leases	2.0		—		0.6		—
Financing Cash Flows from Finance Leases	3.9		—		—		—
Supplemental Non-Cash Information on Lease Liabilities:
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities	12.8		0.6		7.0		5.0
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities	18.5		18.3		—		—

(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH
For the Year Ended December 31, 2022
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating Cash Flows from Operating Leases	$	11.3	$	0.3	$	2.1	$	0.1
Operating Cash Flows from Finance Leases	2.0		—		0.6		—
Financing Cash Flows from Finance Leases	3.9		—		—		0.1
Supplemental Non-Cash Information on Lease Liabilities:
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities	18.9		2.4		—		—
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities	3.5		—		—		—

(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH
For the Year Ended December 31, 2021
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating Cash Flows from Operating Leases	$	12.1	$	0.3	$	2.1	$	0.1
Operating Cash Flows from Finance Leases	3.4		0.1		0.6		—
Financing Cash Flows from Finance Leases	4.1		1.4		—		0.1
Supplemental Non-Cash Information on Lease Liabilities:
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities	2.1		—		1.9		—
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities	2.3		—		—		—

Future Minimum Lease Payments under Long-Term Finance Leases

Future minimum lease payments, excluding variable costs, under long-term leases, as of December 31, 2023 are as follows:

	Operating Leases								Finance Leases
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric
Year Ending December 31,
2024	$	11.1	$	0.9	$	3.4	$	1.7	$	7.8	$	1.9	$	0.6
2025	8.3		0.9		3.0		1.7		8.2		2.3		0.7
2026	6.9		0.5		3.0		1.5		7.8		2.4		0.7
2027	4.3		—		2.3		0.1		7.9		2.5		0.7
2028	4.3		—		2.4		—		7.2		2.6		0.7
Thereafter	30.3		—		24.6		—		57.8		11.5		11.0
Future lease payments	65.2		2.3		38.7		5.0		96.7		23.2		14.4
Less amount representing interest	11.7		0.1		11.0		0.3		24.0		4.9		9.5
Present value of future minimum lease payments	$	53.5	$	2.2	$	27.7	$	4.7	$	72.7	$	18.3	$	4.9

Future Minimum Lease Payments under Long-Term Operating Leases

Future minimum lease payments, excluding variable costs, under long-term leases, as of December 31, 2023 are as follows:

	Operating Leases								Finance Leases
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric
Year Ending December 31,
2024	$	11.1	$	0.9	$	3.4	$	1.7	$	7.8	$	1.9	$	0.6
2025	8.3		0.9		3.0		1.7		8.2		2.3		0.7
2026	6.9		0.5		3.0		1.5		7.8		2.4		0.7
2027	4.3		—		2.3		0.1		7.9		2.5		0.7
2028	4.3		—		2.4		—		7.2		2.6		0.7
Thereafter	30.3		—		24.6		—		57.8		11.5		11.0
Future lease payments	65.2		2.3		38.7		5.0		96.7		23.2		14.4
Less amount representing interest	11.7		0.1		11.0		0.3		24.0		4.9		9.5
Present value of future minimum lease payments	$	53.5	$	2.2	$	27.7	$	4.7	$	72.7	$	18.3	$	4.9