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COMPREHENSIVE INCOME
 12 Months Ended
Dec. 31, 2011
Notes To Consolidated Financial Statements [Abstract]  
Comprehensive Income Note [Text Block]

16.       ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

 

The accumulated balance for each component of other comprehensive income/(loss), net of tax, is as follows:

(Millions of Dollars) As of December 31,
NU2011 2010
Qualified Cash Flow Hedging Instruments  $  (18.4) $  (4.2)
Unrealized Gains on Other Securities   1.1   0.6
Pension, SERP and PBOP Benefits    (53.4)   (39.8)
Accumulated Other Comprehensive Loss $(70.7) $ (43.4)
       
CL&P      
Qualified Cash Flow Hedging Instruments  $(2.3) $ (2.7)
Unrealized Gains on Other Securities  0.0   -
Accumulated Other Comprehensive Loss $(2.3) $ (2.7)
       
PSNH      
Qualified Cash Flow Hedging Instruments  $(10.9) $ (0.6)
Unrealized Gains on Other Securities  0.1   -
Accumulated Other Comprehensive Loss $(10.8) $ (0.6)
       
WMECO      
Qualified Cash Flow Hedging Instruments  $(4.2) $ (0.1)
Unrealized Gains on Other Securities  0.0   -
Accumulated Other Comprehensive Loss $(4.2) $ (0.1)

Qualified cash flow hedging items impacting Net Income in the tables above represent amounts that were reclassified from Accumulated Other Comprehensive Income/(Loss) into Net Income for interest rate swap agreements. For the year ended December 31, 2011 amounts were as follows:

  For the Year Ended December 31, 2011  
(Millions of Dollars)NU  PSNH  WMECO  
Balance as of January 1, 2011$ (4.2) $ (0.6) $ (0.1)  
 Hedged Transactions Recognized into Earnings  0.7   0.5   0.1  
 Cash Flow Hedging Transactions Entered into for the Year  (14.9)   (10.8)   (4.2)  
Net Change Associated with Hedging Transactions  (14.2)   (10.3)   (4.1)  
Total Fair Value Adjustments Included in Accumulated          
 Other Comprehensive Loss$ (18.4) $ (10.9) $ (4.2)  
            
For further information regarding cash flow hedging transactions, see Note 4, "Derivative Instruments," to the consolidated financial statements.

The changes in the components of other comprehensive income/(loss) are reported net of the following income tax effects:
           
(Millions of Dollars)         
NU2011 2010 2009 
Qualified Cash Flow Hedging Instruments$ 9.5 $ (0.2) $ (0.2) 
Change in Unrealized Gains/(Losses) on Other Securities  (0.4)   (0.2)   0.7 
Pension, SERP and PBOP Benefits  7.9   -   2.9 
Total$ 17.0 $ (0.4) $ 3.4 
          
CL&P         
Qualified Cash Flow Hedging Instruments$ (0.3) $ (0.3) $ (0.3) 
          
PSNH         
Qualified Cash Flow Hedging Instruments$ 7.0 $ (0.1) $ - 
          
WMECO         
Qualified Cash Flow Hedging Instruments$ 2.7 $ - $ 0.1 

It is estimated that a charge of $2.2 million will be reclassified from Accumulated Other Comprehensive Income/(Loss) as a decrease to earnings over the next 12 months as a result of amortization of the interest rate swap agreements, which have been settled. Included in this amount are estimated charges of $0.4 million, $1.2 million and $0.3 million for CL&P, PSNH and WMECO, respectively. As of December 31, 2011, it is estimated that a pre-tax amount of $8.7 million included in the Accumulated Other Comprehensive Income/(Loss) balance will be reclassified as a decrease to Net Income over the next 12 months related to Pension, SERP and PBOP adjustments for NU.