XML 141 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2013
Notes To Consolidated Financial Statements [Abstract]  
Segment Reporting Disclosure [Text Block]

14.       SEGMENT INFORMATION

 

Presentation: NU is organized between the Electric Distribution, Electric Transmission and Natural Gas Distribution segments and Other based on a combination of factors, including the characteristics of each segments' products and services, the sources of operating revenues and expenses and the regulatory environment in which each segment operates. These segments represented substantially all of NU's total consolidated revenues for the three and six month periods ended June 30, 2013 and 2012. 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. The Electric Distribution segment includes the generation activities of PSNH and WMECO.

 

Other operations in the tables below primarily consists of 1) the equity in earnings of NU parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest income and expense related to the cash and debt of NU parent and NSTAR LLC, respectively, 2) the revenues and expenses of NU's service companies, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, and 4) the results of other subsidiaries, which are comprised of NU Enterprises, NSTAR Communications, Inc., RRR (a real estate subsidiary), the non-energy-related subsidiaries of Yankee and the remaining operations of HWP.

 

Cash flows used for 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 expense.

 

NU's reportable segments are the combined Electric Distribution, Electric Transmission and Natural Gas Distribution segments, based upon the level at which NU's chief operating decision maker assesses performance and makes decisions about the allocation of company resources. Each of NU's subsidiaries, including CL&P, NSTAR Electric, PSNH and WMECO, has one reportable segment. Therefore, separate Transmission and Distribution information is not disclosed for CL&P, NSTAR Electric, PSNH or WMECO. NU's operating segments and reporting units are consistent with its reportable business segments.

 

NSTAR amounts are included in NU consolidated as of April 10, 2012.

 

NU's segment information for the three and six month periods ended June 30, 2013 and 2012 is as follows:

  For the Three Months Ended June 30, 2013
  Electric  Natural Gas            
(Millions of Dollars)Distribution Distribution Transmission Other Eliminations Total
Operating Revenues$ 1,221.6 $ 154.1 $ 247.9 $ 220.7 $ (208.4) $ 1,635.9
Depreciation and Amortization  (152.2)   (16.7)   (34.5)   (21.7)   2.9   (222.2)
Other Operating Expenses  (883.3)   (127.0)   (63.6)   (194.9)   205.7   (1,063.1)
Operating Income  186.1   10.4   149.8   4.1   0.2   350.6
Interest Expense  (43.4)   (8.9)   (25.2)   (10.7)   1.3   (86.9)
Interest Income  1.0   -    0.4   1.4   (1.6)   1.2
Other Income, Net  1.2   0.1   2.4   230.8   (230.7)   3.8
Income Tax (Expense)/Benefit  (52.4)   (0.4)   (49.8)   7.2   (0.2)   (95.6)
Net Income  92.5   1.2   77.6   232.8   (231.0)   173.1
Net Income Attributable                  
 to Noncontrolling Interests  (1.3)   -    (0.8)   -    -    (2.1)
Net Income Attributable                  
 to Controlling Interest$ 91.2 $ 1.2 $ 76.8 $ 232.8 $ (231.0) $ 171.0
                   
  For the Six Months Ended June 30, 2013
  Electric  Natural Gas            
(Millions of Dollars)Distribution Distribution Transmission Other Eliminations Total
Operating Revenues$ 2,595.8 $ 515.9 $ 487.4 $ 437.8 $ (406.0) $ 3,630.9
Depreciation and Amortization  (329.1)   (34.1)   (66.3)   (40.8)   4.6   (465.7)
Other Operating Expenses  (1,888.3)   (394.3)   (125.8)   (392.2)   404.9   (2,395.7)
Operating Income  378.4   87.5   295.3   4.8   3.5   769.5
Interest Expense  (85.6)   (16.2)   (47.1)   (17.1)   2.9   (163.1)
Interest Income  2.1   -    0.5   2.9   (3.2)   2.3
Other Income, Net  5.0   0.3   5.0   551.1   (551.0)   10.4
Income Tax (Expense)/Benefit  (106.8)   (27.1)   (95.6)   13.8   (0.4)   (216.1)
Net Income  193.1   44.5   158.1   555.5   (548.2)   403.0
Net Income Attributable                  
 to Noncontrolling Interests  (2.5)   -    (1.4)   -    -    (3.9)
Net Income Attributable                  
 to Controlling Interest$ 190.6 $ 44.5 $ 156.7 $ 555.5 $ (548.2) $ 399.1
Total Assets (as of)$ 18,138.7 $ 2,706.2 $ 6,429.7 $ 18,776.1 $ (17,853.8) $ 28,196.9
Cash Flows Used for                 
 Investments in Plant$ 315.3 $ 70.9 $ 297.4 $ 16.7 $ -  $ 700.3

  For the Three Months Ended June 30, 2012
  Electric Natural Gas            
(Millions of Dollars)Distribution Distribution Transmission Other Eliminations Total
Operating Revenues$ 1,229.9 $ 133.5 $ 228.7 $ 230.2 $ (193.6) $ 1,628.7
Depreciation and Amortization  (153.3)   (12.4)   (28.6)   (17.7)   1.2   (210.8)
Other Operating Expenses  (1,004.8)   (115.8)   (65.5)   (263.0)   190.7   (1,258.4)
Operating Income/(Loss)  71.8   5.3   134.6   (50.5)   (1.7)   159.5
Interest Expense  (44.8)   (8.8)   (26.2)   (11.1)   1.9   (89.0)
Interest Income  1.0   -    0.1   1.4   (1.4)   1.1
Other Income/(Loss), Net  (0.2)   0.1   0.7   117.9   (117.8)   0.7
Income Tax (Expense)/Benefit  (6.9)   1.3   (44.8)   25.0   (0.7)   (26.1)
Net Income/(Loss)  20.9   (2.1)   64.4   82.7   (119.7)   46.2
Net Income Attributable                  
 to Noncontrolling Interests  (1.2)   -    (0.7)   -    -    (1.9)
Net Income/(Loss) Attributable                  
 to Controlling Interest$ 19.7 $ (2.1) $ 63.7 $ 82.7 $ (119.7) $ 44.3
                   
  For the Six Months Ended June 30, 2012
  Electric Natural Gas            
(Millions of Dollars)Distribution Distribution Transmission Other Eliminations Total
Operating Revenues$ 2,016.0 $ 272.5 $ 391.6 $ 363.4 $ (315.2) $ 2,728.3
Depreciation and Amortization  (225.4)   (20.1)   (49.8)   (21.6)   1.5   (315.4)
Other Operating Expenses  (1,627.0)   (218.0)   (113.2)   (397.8)   317.0   (2,039.0)
Operating Income/(Loss)  163.6   34.4   228.6   (56.0)   3.3   373.9
Interest Expense  (77.9)   (14.3)   (45.8)   (20.4)   2.9   (155.5)
Interest Income  2.1   -    0.3   2.6   (2.7)   2.3
Other Income, Net  4.2   0.1   3.9   240.5   (240.4)   8.3
Income Tax (Expense)/Benefit  (28.3)   (7.6)   (75.6)   31.0   (1.5)   (82.0)
Net Income  63.7   12.6   111.4   197.7   (238.4)   147.0
Net Income Attributable                  
 to Noncontrolling Interests  (2.0)   -    (1.4)   -    -    (3.4)
Net Income Attributable                  
 to Controlling Interest$ 61.7 $ 12.6 $ 110.0 $ 197.7 $ (238.4) $ 143.6
Total Assets (as of)$ 15,161.3 $ 2,432.7 $ 5,327.7 $ 20,614.1 $ (16,029.5) $ 27,506.3
Cash Flows Used for                 
 Investments in Plant$ 305.7 $ 59.7 $ 297.2 $ 27.8 $ -  $ 690.4