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NSTAR ELECTRIC COMPANY AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities:      
Net Income $ 1,412,394 $ 1,228,046 $ 1,212,686
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:      
Depreciation 1,194,246 1,103,008 981,380
Deferred Income Taxes 346,779 347,056 257,154
Pension, SERP and PBOP (Income)/Expense, Net (160,857) (14,693) 12,888
Pension Contributions (83,148) (182,344) (111,524)
Regulatory Under Recoveries, Net (205,294) (314,211) (516,411)
Uncollectible Expense 61,876 60,886 53,461
Cost of Removal Expenditures (303,755) (242,130) (148,332)
Payment of Withheld Property Taxes (78,446) 0 0
Other (39,192) (64,640) (25,957)
Changes in Current Assets and Liabilities:      
Receivables and Unbilled Revenues, Net (470,593) (135,505) (351,843)
Taxes Receivable/Accrued, Net 18,358 (110,621) 43,819
Accounts Payable 377,657 (29,201) 122,567
Other Current Assets and Liabilities, Net (45,583) 3,710 (24,995)
Net Cash Flows Provided by Operating Activities 2,401,293 1,962,600 1,682,572
Investing Activities:      
Investments in Property, Plant and Equipment (3,441,852) (3,175,080) (2,942,996)
Other Investing Activities 20,420 22,178 23,809
Net Cash Flows Used in Investing Activities (4,130,490) (3,447,374) (4,129,275)
Financing Activities:      
Cash Dividends on Common Shares (860,033) (805,439) (744,665)
Cash Dividends on Preferred Stock (7,519) (7,519) (7,519)
Proceeds from (Repayments of) Short-Term Debt (78,170) 256,125 13,955
Issuance of Long-Term Debt 4,045,000 3,230,000 2,760,000
Retirement of Long-Term Debt (1,175,000) (1,142,500) (327,236)
Other Financing Activities (48,185) (46,625) 14,273
Net Cash Flows Provided by Financing Activities 2,029,941 1,440,832 2,594,590
Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash 300,744 (43,942) 147,887
Cash, Cash Equivalents and Restricted Cash - Beginning of Year 221,008 264,950 117,063
Cash, Cash Equivalents and Restricted Cash - End of Year 521,752 221,008 264,950
NSTAR Electric      
Operating Activities:      
Net Income 492,428 476,569 445,001
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:      
Depreciation 361,969 337,451 319,468
Deferred Income Taxes 78,039 57,507 72,595
Pension, SERP and PBOP (Income)/Expense, Net (55,830) (26,120) (18,132)
Pension Contributions (15,000) (30,000) (650)
Regulatory Under Recoveries, Net (88,220) (79,075) (186,081)
Amortization of Regulatory Assets, Net 83,855 55,774 83,248
Uncollectible Expense 21,550 16,649 15,293
Cost of Removal Expenditures (57,339) (58,967) (39,166)
Payment of Withheld Property Taxes (76,311) 0 0
Other (14,294) (32,447) (22,888)
Changes in Current Assets and Liabilities:      
Receivables and Unbilled Revenues, Net (23,757) (45,774) (81,571)
Taxes Receivable/Accrued, Net 35,143 (16,219) (44,045)
Accounts Payable 8,815 31,650 25,573
Other Current Assets and Liabilities, Net 20,430 13,944 (42,831)
Net Cash Flows Provided by Operating Activities 771,478 700,942 525,814
Investing Activities:      
Investments in Property, Plant and Equipment (954,281) (960,949) (907,000)
Other Investing Activities 165 91 159
Net Cash Flows Used in Investing Activities (954,116) (960,858) (906,841)
Financing Activities:      
Cash Dividends on Common Shares (287,600) (283,200) (262,000)
Cash Dividends on Preferred Stock (1,960) (1,960) (1,960)
(Decrease)/Increase in Notes Payable (162,500) (32,500) 184,500
Proceeds from (Repayments of) Short-Term Debt 0 (21,300) (9,000)
Capital Contributions from Eversource Parent 525,000 260,000 180,500
Issuance of Long-Term Debt 850,000 600,000 400,000
Retirement of Long-Term Debt (400,000) (250,000) (95,000)
Other Financing Activities (13,188) (10,355) (4,915)
Net Cash Flows Provided by Financing Activities 509,752 260,685 392,125
Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash 327,114 769 11,098
Cash, Cash Equivalents and Restricted Cash - Beginning of Year 18,179 17,410 6,312
Cash, Cash Equivalents and Restricted Cash - End of Year $ 345,293 $ 18,179 $ 17,410