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SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2011
Notes To Consolidated Financial Statements [Abstract]  
Segment Reporting Disclosure [Text Block]

14.       SEGMENT INFORMATION

 

Presentation: NU is organized between the Regulated companies' segments and Other based on a combination of factors, including the characteristics of each business' products and services, the sources of operating revenues and expenses and the regulatory environment in which each segment operates. Cash flows for total investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred but not paid, cost of removal, AFUDC related to equity funds, and the capitalized portions of pension and PBOP expense or income.

 

The Regulated companies' segments include the electric distribution segment, the natural gas distribution segment and the electric transmission segment. The electric distribution segment includes the generation activities of PSNH and WMECO. The Regulated companies' segments represented substantially all of NU's total consolidated revenues for the three and six month periods ended June 30, 2011 and 2010.

 

Other in the tables below primarily consists of 1) the results of NU parent, which includes other income related to the equity in earnings of NU parent's subsidiaries and interest income from the NU Money Pool, which are both eliminated in consolidation, and interest income and expense related to the cash and debt of NU parent, respectively, 2) the revenues and expenses of NU's service companies, most of which are eliminated in consolidation, and 3) the results of other subsidiaries, which are comprised of NU Enterprises (NU's competitive businesses which primarily consist of Select Energy's remaining wholesale marketing contracts, an electrical contracting business and other operating and maintenance services contracts), RRR (a real estate subsidiary), the non-energy-related subsidiaries of Yankee (Yankee Energy Services Company and Yankee Energy Financial Services Company) and the remaining operations of HWP that were not exited as part of the sale of the competitive generation business in 2006 and the sale of its transmission business to WMECO in December 2008.

 

Regulated companies' revenues from the sale of electricity and natural gas primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer.

 

NU's segment information for the three and six months ended June 30, 2011 and 2010, with the distribution segment segregated between electric and natural gas, is as follows (some amounts may not agree between the financial statements and the segment schedules due to rounding):

  For the Three Months Ended June 30, 2011
  Regulated Companies         
  Distribution            
(Millions of Dollars)Electric Natural Gas Transmission Other Eliminations Total
Operating Revenues$ 794.4 $ 78.4 $ 152.1 $ 130.8 $ (108.2) $ 1,047.5
Depreciation and Amortization  (76.8)   (6.3)   (21.4)   (3.9)   0.4   (108.0)
Other Operating Expenses  (632.9)   (65.7)   (44.2)   (126.8)   108.2   (761.4)
Operating Income  84.7   6.4   86.5   0.1   0.4   178.1
Interest Expense  (31.0)   (5.2)   (19.1)   (8.5)   1.6   (62.2)
Interest Income  0.6   -   0.1   1.5   (1.5)   0.7
Other Income, Net  2.8   0.4   3.3   85.4   (85.3)   6.6
Income Tax (Expense)/Benefit  (17.2)   (0.4)   (28.0)   2.0   (0.9)   (44.5)
Net Income  39.9   1.2   42.8   80.5   (85.7)   78.7
Net Income Attributable                  
 to Noncontrolling Interests  (0.8)   -   (0.6)   -   -   (1.4)
Net Income Attributable                  
 to Controlling Interests$ 39.1 $ 1.2 $ 42.2 $ 80.5 $ (85.7) $ 77.3

  For the Six Months Ended June 30, 2011
  Regulated Companies         
  Distribution            
(Millions of Dollars)Electric Natural Gas Transmission Other Eliminations Total
Operating Revenues$ 1,686.0 $ 258.6 $ 310.3 $ 261.2 $ (233.4) $ 2,282.7
Depreciation and Amortization  (168.7)   (13.1)   (44.8)   (8.3)   1.3   (233.6)
Other Operating Expenses  (1,325.1)   (199.2)   (92.5)   (261.7)   234.9   (1,643.6)
Operating Income/(Loss)  192.2   46.3   173.0   (8.8)   2.8   405.5
Interest Expense  (60.6)   (10.4)   (35.4)   (17.1)   2.7   (120.8)
Interest Income  1.9   -   0.3   2.7   (2.8)   2.1
Other Income, Net  6.6   0.8   8.1   234.9   (234.8)   15.6
Income Tax (Expense)/Benefit  (43.6)   (13.0)   (57.9)   7.8   (1.4)   (108.1)
Net Income  96.5   23.7   88.1   219.5   (233.5)   194.3
Net Income Attributable                  
 to Noncontrolling Interests  (1.7)   -   (1.2)   -   -   (2.9)
Net Income Attributable                  
 to Controlling Interests$ 94.8 $ 23.7 $ 86.9 $ 219.5 $ (233.5) $ 191.4
Total Assets (as of)$ 8,836.0 $ 1,445.1 $ 3,551.4 $ 6,208.6 $ (5,598.8) $ 14,442.3
Cash Flows for Total                  
 Investments in Plant$ 251.1 $ 45.4 $ 146.0 $ 26.0 $ - $ 468.5

  For the Three Months Ended June 30, 2010
  Regulated Companies         
  Distribution            
(Millions of Dollars)Electric Natural Gas Transmission Other Eliminations Total
Operating Revenues$ 884.5 $ 73.5 $ 154.2 $ 133.8 $ (134.6) $ 1,111.4
Depreciation and Amortization  (111.6)   (7.0)   (21.6)   (3.5)   0.7   (143.0)
Other Operating Expenses  (696.3)   (62.0)   (45.4)   (117.1)   130.7   (790.1)
Operating Income  76.6   4.5   87.2   13.2   (3.2)   178.3
Interest Expense  (35.7)   (5.5)   (19.1)   (8.1)   1.2   (67.2)
Interest Income/(Loss)  (1.5)   -   1.2   1.4   (2.3)   (1.2)
Other Income/(Loss), Net  (0.5)   0.1   1.5   72.1   (70.4)   2.8
Income Tax (Expense)/Benefit  (10.5)   0.4   (28.3)   (1.0)   -   (39.4)
Net Income/(Loss)  28.4   (0.5)   42.5   77.6   (74.7)   73.3
Net Income Attributable                  
 to Noncontrolling Interests  (0.8)   -   (0.6)   -   -   (1.4)
Net Income/(Loss) Attributable                  
 to Controlling Interests$ 27.6 $ (0.5) $ 41.9 $ 77.6 $ (74.7) $ 71.9

  For the Six Months Ended June 30, 2010
  Regulated Companies         
  Distribution            
(Millions of Dollars)Electric Natural Gas Transmission Other Eliminations Total
Operating Revenues$ 1,884.5 $ 245.2 $ 307.9 $ 257.9 $ (244.7) $ 2,450.8
Depreciation and Amortization  (214.7)   (10.6)   (41.8)   (7.3)   1.6   (272.8)
Other Operating Expenses  (1,497.8)   (191.7)   (92.4)   (232.8)   241.7   (1,773.0)
Operating Income  172.0   42.9   173.7   17.8   (1.4)   405.0
Interest Expense  (72.2)   (10.4)   (38.5)   (15.7)   2.4   (134.4)
Interest Income/(Loss)  (0.8)   -   1.4   2.7   (3.7)   (0.4)
Other Income, Net  4.2   0.1   3.9   183.8   (182.0)   10.0
Income Tax Expense  (45.6)   (13.6)   (57.2)   (2.6)   (0.2)   (119.2)
Net Income  57.6   19.0   83.3   186.0   (184.9)   161.0
Net Income Attributable                  
 to Noncontrolling Interests  (1.6)   -   (1.2)   -   -   (2.8)
Net Income Attributable                  
 to Controlling Interests$ 56.0 $ 19.0 $ 82.1 $ 186.0 $ (184.9) $ 158.2
Total Assets (as of)$ 8,860.1 $ 1,370.8 $ 3,327.7 $ 6,043.9 $ (5,372.8) $ 14,229.7
Cash Flows for Total                  
 Investments in Plant$ 267.9 $ 28.0 $ 113.1 $ 33.4 $ - $ 442.4

The information related to the distribution and transmission segments for CL&P, PSNH and WMECO for the three and six months
ended June 30, 2011 and 2010 is as follows:
                   
  CL&P - For the Three Months Ended
  June 30, 2011 June 30, 2010
(Millions of Dollars)Distribution Transmission Total Distribution Transmission Total
Operating Revenues$ 489.9 $ 118.1 $ 608.0 $ 584.0 $ 123.9 $ 707.9
Depreciation and Amortization  (36.1)   (16.0)   (52.1)   (90.7)   (16.8)   (107.5)
Other Operating Expenses  (408.1)   (33.0)   (441.1)   (460.0)   (34.2)   (494.2)
Operating Income  45.7   69.1   114.8   33.3   72.9   106.2
Interest Expense  (18.5)   (15.8)   (34.3)   (21.5)   (15.7)   (37.2)
Interest Income  0.6   0.1   0.7   0.5   0.9   1.4
Other Income/(Loss), Net  (0.2)   1.5   1.3   (1.2)   0.5   (0.7)
Income Tax Expense   (7.8)   (22.1)   (29.9)   (1.9)   (23.7)   (25.6)
Net Income $ 19.8 $ 32.8 $ 52.6 $ 9.2 $ 34.9 $ 44.1

  CL&P - For the Six Months Ended
  June 30, 2011 June 30, 2010
(Millions of Dollars)Distribution Transmission Total Distribution Transmission Total
Operating Revenues$ 1,039.8 $ 241.9 $ 1,281.7 $ 1,255.2 $ 247.7 $ 1,502.9
Depreciation and Amortization  (77.7)   (33.3)   (111.0)   (166.5)   (33.5)   (200.0)
Other Operating Expenses  (859.8)   (70.1)   (929.9)   (1,001.2)   (70.0)   (1,071.2)
Operating Income  102.3   138.5   240.8   87.5   144.2   231.7
Interest Expense  (35.0)   (29.1)   (64.1)   (43.9)   (31.8)   (75.7)
Interest Income  1.2   0.2   1.4   0.9   1.1   2.0
Other Income, Net  1.3   4.0   5.3   1.1   2.5   3.6
Income Tax Expense   (20.6)   (45.8)   (66.4)   (21.3)   (47.8)   (69.1)
Net Income $ 49.2 $ 67.8 $ 117.0 $ 24.3 $ 68.2 $ 92.5
Total Assets (as of)$ 5,601.3 $ 2,620.7 $ 8,222.0 $ 5,675.0 $ 2,552.7 $ 8,227.7
Cash Flows for Total                  
 Investments in Plant$ 141.9 $ 60.1 $ 202.0 $ 132.4 $ 59.3 $ 191.7

  PSNH - For the Three Months Ended
  June 30, 2011 June 30, 2010
(Millions of Dollars)Distribution Transmission Total Distribution Transmission Total
Operating Revenues$ 219.1 $ 21.1 $ 240.2 $ 218.2 $ 20.1 $ 238.3
Depreciation and Amortization  (30.8)   (2.8)   (33.6)   (14.0)   (2.6)   (16.6)
Other Operating Expenses  (160.8)   (7.9)   (168.7)   (170.0)   (8.3)   (178.3)
Operating Income  27.5   10.4   37.9   34.2   9.2   43.4
Interest Expense  (8.5)   (1.9)   (10.4)   (9.9)   (2.1)   (12.0)
Interest Income/(Loss)  -   -   -   (2.2)   0.2   (2.0)
Other Income, Net  3.9   0.5   4.4   1.6   0.2   1.8
Income Tax Expense   (6.9)   (3.3)   (10.2)   (6.8)   (2.8)   (9.6)
Net Income $ 16.0 $ 5.7 $ 21.7 $ 16.9 $ 4.7 $ 21.6

  PSNH - For the Six Months Ended
  June 30, 2011 June 30, 2010
(Millions of Dollars)Distribution Transmission Total Distribution Transmission Total
Operating Revenues$ 467.0 $ 42.7 $ 509.7 $ 457.1 $ 39.8 $ 496.9
Depreciation and Amortization  (74.6)   (5.6)   (80.2)   (34.0)   (5.3)   (39.3)
Other Operating Expenses  (328.7)   (15.9)   (344.6)   (358.5)   (15.8)   (374.3)
Operating Income  63.7   21.2   84.9   64.6   18.7   83.3
Interest Expense  (17.1)   (3.8)   (20.9)   (20.2)   (4.2)   (24.4)
Interest Income/(Loss)  0.4   0.1   0.5   (1.9)   0.1   (1.8)
Other Income, Net  7.3   1.0   8.3   3.5   0.5   4.0
Income Tax Expense   (16.8)   (6.9)   (23.7)   (17.9)   (5.8)   (23.7)
Net Income $ 37.5 $ 11.6 $ 49.1 $ 28.1 $ 9.3 $ 37.4
Total Assets (as of)$ 2,377.2 $ 507.3 $ 2,884.5 $ 2,316.2 $ 475.6 $ 2,791.8
Cash Flows for Total                 
 Investments in Plant$ 89.7 $ 21.8 $ 111.5 $ 122.8 $ 18.9 $ 141.7

  WMECO - For the Three Months Ended
  June 30, 2011 June 30, 2010
(Millions of Dollars)Distribution Transmission Total Distribution Transmission Total
Operating Revenues$ 85.4 $ 13.0 $ 98.4 $ 82.3 $ 10.2 $ 92.5
Depreciation and Amortization  (9.9)   (2.6)   (12.5)   (6.9)   (2.1)   (9.0)
Other Operating Expenses  (64.1)   (3.3)   (67.4)   (66.3)   (2.9)   (69.2)
Operating Income  11.4   7.1   18.5   9.1   5.2   14.3
Interest Expense  (4.1)   (1.4)   (5.5)   (4.4)   (1.3)   (5.7)
Interest Income  0.1   -   0.1   0.1   0.1   0.2
Other Income/(Loss), Net  (0.9)   1.1   0.2   (0.8)   0.7   (0.1)
Income Tax Expense   (2.5)   (2.6)   (5.1)   (1.7)   (1.8)   (3.5)
Net Income $ 4.0 $ 4.2 $ 8.2 $ 2.3 $ 2.9 $ 5.2

  WMECO - For the Six Months Ended
  June 30, 2011 June 30, 2010
(Millions of Dollars)Distribution Transmission Total Distribution Transmission Total
Operating Revenues$ 179.3 $ 25.8 $ 205.1 $ 172.3 $ 20.4 $ 192.7
Depreciation and Amortization  (16.5)   (5.9)   (22.4)   (14.3)   (3.0)   (17.3)
Other Operating Expenses  (136.7)   (6.5)   (143.2)   (138.1)   (6.6)   (144.7)
Operating Income  26.1   13.4   39.5   19.9   10.8   30.7
Interest Expense  (8.5)   (2.5)   (11.0)   (8.1)   (2.5)   (10.6)
Interest Income  0.1   -   0.1   0.2   0.2   0.4
Other Income/(Loss), Net  (1.9)   2.7   0.8   (0.4)   0.8   0.4
Income Tax Expense   (6.1)   (5.2)   (11.3)   (6.4)   (3.6)   (10.0)
Net Income $ 9.7 $ 8.4 $ 18.1 $ 5.2 $ 5.7 $ 10.9
Total Assets (as of)$ 863.6 $ 402.3 $ 1,265.9 $ 874.2 $ 290.2 $ 1,164.4
Cash Flows for Total                 
 Investments in Plant$ 19.5 $ 57.4 $ 76.9 $12.8 $33.6 $ 46.4