Pension Benefits and Postretirement Benefits Other Than Pensions (Tables)
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12 Months Ended |
Dec. 31, 2013
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Notes To Consolidated Financial Statements [Abstract] |
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Schedule Of Net Benefit Costs [Table Text Block] |
| Pension and SERP | | | | For the Year Ended December 31, 2013 | | | | | | | | | | NSTAR | | | | | | | | (Millions of Dollars) | NU | | CL&P | | Electric (2) | | PSNH | | WMECO | | Service Cost | $ | 102.3 | | $ | 24.9 | | $ | 33.1 | | $ | 13.1 | | $ | 4.7 | | Interest Cost | | 206.7 | | | 48.3 | | | 58.0 | | | 23.6 | | | 10.0 | | Expected Return on Plan Assets | | (278.1) | | | (73.8) | | | (84.4) | | | (35.4) | | | (17.4) | | Actuarial Loss | | 210.5 | | | 55.9 | | | 58.1 | | | 21.6 | | | 11.8 | | Prior Service Cost/(Credit) | | 4.0 | | | 1.8 | | | (0.3) | | | 0.7 | | | 0.4 | | Total Net Periodic Benefit Expense | $ | 245.4 | | $ | 57.1 | | $ | 64.5 | | $ | 23.6 | | $ | 9.5 | | Related Intercompany Allocations | | N/A | | $ | 44.9 | | $ | (8.4) | | $ | 10.5 | | $ | 8.0 | | Capitalized Pension Expense | $ | 73.2 | | $ | 28.0 | | $ | 28.9 | | $ | 7.3 | | $ | 5.2 | | | | | | | | | | | | | | | | | | | | Pension and SERP | | | | For the Year Ended December 31, 2012 (1) | | | | | | | | | | NSTAR | | | | | | | | (Millions of Dollars) | NU | | CL&P | | Electric (2) | | PSNH | | WMECO | | Service Cost | $ | 84.3 | | $ | 21.8 | | $ | 30.3 | | $ | 11.8 | | $ | 4.1 | | Interest Cost | | 198.3 | | | 51.2 | | | 58.9 | | | 24.4 | | | 10.5 | | Expected Return on Plan Assets | | (220.9) | | | (70.6) | | | (65.6) | | | (28.2) | | | (16.4) | | Actuarial Loss | | 172.4 | | | 49.6 | | | 63.1 | | | 16.2 | | | 10.7 | | Prior Service Cost/(Credit) | | 7.9 | | | 3.6 | | | (0.6) | | | 1.5 | | | 0.8 | | Total Net Periodic Benefit Expense | $ | 242.0 | | $ | 55.6 | | $ | 86.1 | | $ | 25.7 | | $ | 9.7 | | Curtailments and Settlements | $ | 2.2 | | $ | - | | $ | - | | $ | - | | $ | - | | Related Intercompany Allocations | | N/A | | $ | 42.8 | | $ | (12.3) | | $ | 10.1 | | $ | 8.1 | | Capitalized Pension Expense | $ | 70.6 | | $ | 26.8 | | $ | 30.7 | | $ | 7.9 | | $ | 5.1 | | | | | | | | | | | | | | | | | | | | | Pension and SERP | | | | For the Year Ended December 31, 2011 | | | | | | | | | | NSTAR | | | | | | | | (Millions of Dollars) | NU | | CL&P | | Electric (2) | | PSNH | | WMECO | | Service Cost | $ | 55.4 | | $ | 19.5 | | $ | 26.0 | | $ | 10.6 | | $ | 3.9 | | Interest Cost | | 153.3 | | | 51.9 | | | 61.0 | | | 24.4 | | | 10.7 | | Expected Return on Plan Assets | | (170.8) | | | (76.6) | | | (71.4) | | | (19.8) | | | (17.7) | | Actuarial Loss | | 84.2 | | | 33.4 | | | 48.6 | | | 10.7 | | | 7.1 | | Prior Service Cost/(Credit) | | 9.7 | | | 4.2 | | | (0.7) | | | 1.8 | | | 0.9 | | Total Net Periodic Benefit Expense | $ | 131.8 | | $ | 32.4 | | $ | 63.5 | | $ | 27.7 | | $ | 4.9 | | Related Intercompany Allocations | | N/A | | $ | 34.1 | | $ | (10.2) | | $ | 7.6 | | $ | 6.2 | | Capitalized Pension Expense | $ | 29.7 | | $ | 16.6 | | $ | 19.8 | | $ | 7.6 | | $ | 2.7 | | | | | | | | | | | | | | | | | | | (1) | NSTAR Electric amounts were included in NU beginning April 10, 2012. | (2) | NSTAR Electric's allocated expense associated with the NSTAR SERP was $3.2 million, $3.6 million and $4.4 million for the years ended December 31, 2013, 2012 and 2011, respectively, and are not included in the NSTAR Electric amounts in the tables above. |
| | PBOP | | | For the Years Ended December 31, | | | 2013 | | 2012 | | 2011 | (Millions of Dollars) | NU | | CL&P | | PSNH | | WMECO | | NU (1) | | CL&P | | PSNH | | WMECO | | NU | | CL&P | | PSNH | | WMECO | Service Cost | $ | 16.9 | | $ | 3.4 | | $ | 2.3 | | $ | 0.7 | | $ | 15.7 | | $ | 3.0 | | $ | 2.0 | | $ | 0.6 | | $ | 9.2 | | $ | 2.9 | | $ | 1.9 | | $ | 0.6 | Interest Cost | | 47.2 | | | 7.9 | | | 4.0 | | | 1.7 | | | 49.0 | | | 9.2 | | | 4.6 | | | 2.0 | | | 25.7 | | | 10.0 | | | 4.8 | | | 2.2 | Expected Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | on Plan Assets | | (55.4) | | | (10.1) | | | (5.2) | | | (2.3) | | | (39.2) | | | (9.1) | | | (4.6) | | | (2.1) | | | (21.6) | | | (8.7) | | | (4.3) | | | (2.0) | Actuarial Loss | | 26.0 | | | 7.4 | | | 3.6 | | | 1.1 | | | 36.0 | | | 7.5 | | | 3.6 | | | 1.2 | | | 19.0 | | | 7.2 | | | 3.2 | | | 1.1 | Prior Service | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cost/(Credit) | | (2.1) | | | - | | | - | | | - | | | (1.4) | | | - | | | - | | | - | | | (0.3) | | | - | | | - | | | - | Net Transition | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Obligation Cost (2) | | - | | | - | | | - | | | - | | | 12.2 | | | 6.1 | | | 2.5 | | | 1.3 | | | 11.6 | | | 6.2 | | | 2.5 | | | 1.3 | Total Net Periodic Benefit Expense | $ | 32.6 | | $ | 8.6 | | $ | 4.7 | | $ | 1.2 | | $ | 72.3 | | $ | 16.7 | | $ | 8.1 | | $ | 3.0 | | $ | 43.6 | | $ | 17.6 | | $ | 8.1 | | $ | 3.2 | Related Intercompany Allocations | | N/A | | $ | 7.1 | | $ | 1.6 | | $ | 1.3 | | | N/A | | $ | 7.9 | | $ | 2.0 | | $ | 1.5 | | | N/A | | $ | 8.2 | | $ | 2.0 | | $ | 1.5 | Capitalized PBOP Expense | $ | 8.8 | | $ | 3.9 | | $ | 1.3 | | $ | 0.6 | | $ | 26.6 | | $ | 8.2 | | $ | 2.3 | | $ | 1.6 | | $ | 12.7 | | $ | 8.7 | | $ | 2.2 | | $ | 1.5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (1) | NU results include NSTAR PBOP Plan activity beginning April 10, 2012. | (2) | The PBOP Plans' transition obligation costs were fully amortized in 2013. |
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Schedule of Defined Benefit Plans Disclosures [Table Text Block] |
The accumulated benefit obligation for the Pension and SERP Plans is as follows: | | | | | | | | | | | Pension and SERP | | | | As of December 31, | | (Millions of Dollars) | 2013 | | 2012 | | NU | $ | 4,538.8 | | $ | 4,622.1 | | CL&P | | 1,058.0 | | | 1,061.8 | | NSTAR Electric (1) | | 1,280.6 | | | 1,353.1 | | PSNH | | 520.1 | | | 515.9 | | WMECO | | 220.6 | | | 221.3 | | | | | | | | | | (1) | NSTAR Electric amounts do not include the accumulated benefit obligation for the SERP Plan. | | | | | | | | | The following actuarial assumptions were used in calculating the Pension and SERP Plans' year end funded status: |
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Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] |
The following is a summary of the changes in plan assets and benefit obligations recognized in Regulatory Assets and Other Comprehensive Income (OCI) as well as amounts in Regulatory Assets and OCI reclassified as net periodic benefit expense during the years presented: | | | | | | | | | | | | | | | | | | | | | Amounts Reclassified To/From | | | | | | | | Regulatory Assets | | OCI | | | | | | | (Millions of Dollars) | For the Years Ended December 31, | | | | | | | NU Pension and SERP Plans (1) | 2013 | | 2012 | | 2013 | | 2012 | | | | | | | Actuarial (Gains)/Losses Arising During the Year | $ | (635.2) | | $ | 245.7 | | $ | (28.9) | | $ | 19.1 | | | | | | | Actuarial Losses Reclassified as Net Periodic Benefit Expense | | (201.2) | | | (164.6) | | | (9.4) | | | (7.8) | | | | | | | Prior Service Cost Reclassified as Net Periodic Benefit Expense | (3.8) | | | (7.7) | | | (0.2) | | | (0.2) | | | | | | | | | | | | | | | | | | | | | | | | | | (1) The NU amounts include the NSTAR Pension and SERP Plans beginning April 10, 2012. | | | | | | | | | | | | | | | | | | | | The following is a summary of the remaining Regulatory Assets and Accumulated Other Comprehensive Loss amounts that have not been recognized as components of net periodic benefit expense as of December 31, 2013 and 2012, and the amounts that are expected to be recognized as components in 2014: | | | | | | | | | | | | | | | | | | | | | | Regulatory Assets as of | | | Expected | | | AOCI as of | | Expected | (Millions of Dollars) | December 31, | | | 2014 | | December 31, | | 2014 | NU Pension and SERP Plans | 2013 | | 2012 | | Expense | | 2013 | | 2012 | | Expense | Actuarial Loss | $ | 1,137.4 | | $ | 1,973.8 | | $ | 126.2 | | $ | 43.2 | | $ | 81.5 | | $ | 5.6 | Prior Service Cost | | 17.4 | | | 21.2 | | | 4.2 | | | 1.0 | | | 1.2 | | | 0.2 |
The following is a summary of the changes in plan assets and benefit obligations recognized in Regulatory Assets and OCI as well as amounts in Regulatory Assets and OCI reclassified as net periodic benefit (expense)/income during the years presented: | | | | | | | | | | | | | | | | | | | | | Amounts Reclassified To/From | | | | | | | | Regulatory Assets | | OCI | | | | | | | (Millions of Dollars) | For the Years Ended December 31, | | | | | | | NU PBOP Plans (1) | 2013 | | 2012 | | 2013 | | 2012 | | | | | | | Actuarial Gains Arising During the Year | $ | (262.0) | | $ | (108.6) | | $ | (1.9) | | $ | (1.8) | | | | | | | Actuarial Losses Reclassified as Net Periodic Benefit Expense | | (24.9) | | | (34.9) | | | (1.1) | | | (1.1) | | | | | | | Prior Service Credit Reclassified as Net Periodic Benefit Income | | 2.1 | | | 1.4 | | | - | | | - | | | | | | | Transition Obligation Reclassified as Net Periodic Benefit Expense | | - | | | (11.9) | | | - | | | (0.2) | | | | | | | | | | | | | | | | | | | | | | | | | (1) The NU amounts include the NSTAR PBOP Plan beginning April 10, 2012. | | | | | | | | | | | | | | | | | | | The following is a summary of the remaining Regulatory Assets and Accumulated Other Comprehensive Loss amounts that have not been recognized as components of net periodic benefit expense as of December 31, 2013 and 2012, and the amounts that are expected to be recognized as components in 2014: | | | | | | | | | | | | | | | | | | | | | Regulatory Assets as of | | Expected | | | AOCI as of | | Expected | (Millions of Dollars) | December 31, | | 2014 | | | December 31, | | 2014 | NU PBOP Plans | 2013 | | 2012 | | Expense | | 2013 | | 2012 | | Expense | Actuarial Loss | $ | 89.2 | | $ | 376.1 | | $ | 11.4 | | $ | 6.2 | | $ | 9.2 | | $ | 0.7 | Prior Service Credit | | (4.6) | | | (6.7) | | | (2.8) | | | - | | | - | | | - |
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Schedule of Assumptions Used [Table Text Block] |
| | Pension and SERP | | | | As of December 31, | | | 2013 | | 2012 | | NUSCO Pension and SERP Plans | | | | | | | Discount Rate | 5.03 | % | | 4.24 | % | | Compensation/Progression Rate | 3.50 | % | | 3.50 | % | | | | | | | | | | NSTAR Pension and SERP Plans | | | | | | | Discount Rate | 4.85 | % | | 4.13 | % | | Compensation/Progression Rate | 4.00 | % | | 4.00 | % | |
The following actuarial assumptions were used to calculate Pension and SERP expense amounts: | | | Pension and SERP | | | | | | For the Years Ended December 31, | | | NUSCO Pension and SERP Plans | 2013 | | | 2012 | | | 2011 | | | | | Discount Rate | 4.24 | % | | 5.03 | % | | 5.57 | % | | | | Expected Long-Term Rate of Return | 8.25 | % | | 8.25 | % | | 8.25 | % | | | | Compensation/Progression Rate | 3.50 | % | | 3.50 | % | | 3.50 | % | | | | | | | | | | | | | | | | | NSTAR Pension and SERP Plans | | | | | | | | | | | | Discount Rate | 4.13 | % | | 4.52 | % | | 5.30 | % | | | | Expected Long-Term Rate of Return | 8.25 | % | | 7.30 | % | | 8.00 | % | | | | Compensation/Progression Rate | 4.00 | % | | 4.00 | % | | 4.00 | % | | | | | | | | | | | | | | | | |
The following actuarial assumptions were used in calculating the PBOP Plans' year end funded status: | | | | | | | | | | | | | | | PBOP | | | | | | | As of December 31, | | | | | | 2013 | | 2012 | | | | NUSCO PBOP Plans | | | | | | | | | | Discount Rate | | 4.78 | % | | 4.04 | % | | | | Health Care Cost Trend Rate | | 7.00 | % | | 7.00 | % | | | | | | | | | | | | | | | NSTAR PBOP Plan | | | | | | | | | | Discount Rate | | 5.10 | % | | 4.35 | % | | | | Health Care Cost Trend Rate | | 7.00 | % | | 7.10 | % | | | |
The following actuarial assumptions were used to calculate PBOP expense amounts: | | | | | | | | | | | | | | | | PBOP | | | | | | For the Years Ended December 31, | | | | | 2013 | | | 2012 | | | 2011 | | | NUSCO PBOP Plans | | | | | | | | | | | Discount Rate | | 4.04 | % | | 4.84 | % | | 5.28 | % | | Expected Long-Term Rate of Return | | 8.25 | % | | 8.25 | % | | 8.25 | % | | | | | | | | | | | | | | NSTAR PBOP Plan | | | | | | | | | | | Discount Rate | | 4.35 | % | | 4.58 | % | | N/A | | | Expected Long-Term Rate of Return | | 8.25 | % | | 7.30 | % | | N/A | | |
The health care cost trend rate assumption used to calculate the 2013 PBOP expense amounts was 7 percent for the NUSCO PBOP Plan, subsequently decreasing by 50 basis points per year to an ultimate rate of 5 percent in 2017, and 7.10 percent for the NSTAR PBOP Plan, subsequently decreasing to an ultimate rate of 4.5 percent in 2024. As of December 31, 2013, the health care cost trend rate assumption used to determine the NUSCO and NSTAR PBOP Plans' year end funded status is 7 percent, subsequently decreasing to an ultimate rate of 4.5 percent in 2024. Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. The effect of changing the assumed health care cost trend rate by one percentage point for the year ended December 31, 2013 would have the following effects: |
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] |
(Millions of Dollars) | One Percentage | | One Percentage | NU PBOP Plans | Point Increase | | Point Decrease | Effect on Postretirement Benefit Obligation | $ | 85.8 | | $ | (70.4) | Effect on Total Service and Interest Cost Components | | 7.1 | | | (5.5) |
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Schedule of Expected Benefit Payments [Table Text Block] |
Estimated Future Benefit Payments: The following benefit payments, which reflect expected future service, are expected to be paid by the Pension, SERP and PBOP Plans: | | | | | | | | | | (Millions of Dollars) | Pension | | | | | | | NU | and SERP | | PBOP | | | | 2014 | $ | 263.3 | | $ | 61.6 | | | | 2015 | | 273.3 | | | 63.3 | | | | 2016 | | 282.9 | | | 64.5 | | | | 2017 | | 287.4 | | | 65.6 | | | | 2018 | | 299.4 | | | 66.6 | | | | 2019-2023 | | 1,617.0 | | | 344.4 | | | | | | | | | | | | | NSTAR Pension Plan | | | | | | | | | 2014 | $ | 88.0 | | | N/A | | | | 2015 | | 90.6 | | | N/A | | | | 2016 | | 88.4 | | | N/A | | | | 2017 | | 88.5 | | | N/A | | | | 2018 | | 90.0 | | | N/A | | | | 2019-2023 | | 449.2 | | | N/A | | | |
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Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] |
| | Pension and SERP | NU | As of December 31, | (Millions of Dollars) | 2013 | | 2012 (1) | Change in Benefit Obligation | | | | | | Benefit Obligation as of Beginning of Year | $ | (5,022.8) | | $ | (3,098.9) | Liabilities Assumed from Merger with NSTAR | | - | | | (1,409.7) | Service Cost | | (102.3) | | | (84.3) | Interest Cost | | (206.7) | | | (198.3) | Actuarial Gain/(Loss) | | 433.6 | | | (429.7) | Benefits Paid - Pension | | 216.6 | | | 187.7 | Benefits Paid - SERP | | 5.1 | | | 4.2 | SERP Curtailment | | - | | | 6.2 | Benefit Obligation as of End of Year | $ | (4,676.5) | | $ | (5,022.8) | Change in Pension Plan Assets | | | | | | Fair Value of Plan Assets as of Beginning of Year | $ | 3,411.3 | | $ | 2,005.9 | Assets Assumed from Merger with NSTAR | | - | | | 984.7 | Employer Contributions | | 284.7 | | | 222.4 | Actual Return on Plan Assets | | 506.5 | | | 386.0 | Benefits Paid | | (216.6) | | | (187.7) | Fair Value of Plan Assets as of End of Year | $ | 3,985.9 | | $ | 3,411.3 | Funded Status as of December 31st | $ | (690.6) | | $ | (1,611.5) |
| | Pension and SERP | | | As of December 31, 2013 | | As of December 31, 2012 | | | | | | NSTAR | | | | | | | | | | | NSTAR | | | | | | | (Millions of Dollars) | CL&P | | Electric (2) | | PSNH | | WMECO | | CL&P | | Electric (2) | | PSNH | | WMECO | Change in Benefit Obligation | | | | | | | | | | | | | | | | | | | | | | | | Benefit Obligation as of Beginning of Year | $ | (1,178.0) | | $ | (1,430.0) | | $ | (576.0) | | $ | (243.1) | | $ | (1,043.8) | | $ | (1,346.2) | | $ | (497.9) | | $ | (215.8) | Service Cost | | (24.9) | | | (33.1) | | | (13.1) | | | (4.7) | | | (21.8) | | | (30.3) | | | (11.8) | | | (4.1) | Interest Cost | | (48.3) | | | (58.0) | | | (23.6) | | | (10.0) | | | (51.2) | | | (58.9) | | | (24.4) | | | (10.5) | Actuarial Gain/(Loss) | | 110.7 | | | 96.6 | | | 62.4 | | | 22.4 | | | (117.4) | | | (63.6) | | | (61.3) | | | (24.0) | Benefits Paid - Pension | | 56.6 | | | 71.2 | | | 21.1 | | | 11.5 | | | 55.9 | | | 69.0 | | | 19.7 | | | 11.3 | Benefits Paid - SERP | | 0.5 | | | - | | | 0.2 | | | - | | | 0.3 | | | - | | | - | | | - | SERP Curtailment | | - | | | - | | | - | | | - | | | - | | | - | | | (0.3) | | | - | Benefit Obligation as of End of Year | $ | (1,083.4) | | $ | (1,353.3) | | $ | (529.0) | | $ | (223.9) | | $ | (1,178.0) | | $ | (1,430.0) | | $ | (576.0) | | $ | (243.1) | Change in Pension Plan Assets | | | | | | | | | | | | | | | | | | | | | | | | Fair Value of Plan Assets as of Beginning of Year | $ | 937.6 | | $ | 1,069.1 | | $ | 386.6 | | $ | 218.5 | | $ | 869.6 | | $ | 988.5 | | $ | 279.7 | | $ | 202.0 | Employer Contributions | | - | | | 82.0 | | | 108.3 | | | - | | | - | | | 25.0 | | | 87.7 | | | - | Actual Return on Plan Assets | | 135.3 | | | 155.4 | | | 54.8 | | | 33.4 | | | 123.9 | | | 124.6 | | | 38.9 | | | 27.8 | Benefits Paid | | (56.6) | | | (71.2) | | | (21.1) | | | (11.5) | | | (55.9) | | | (69.0) | | | (19.7) | | | (11.3) | Fair Value of Plan Assets as of End of Year | $ | 1,016.3 | | $ | 1,235.3 | | $ | 528.6 | | $ | 240.4 | | $ | 937.6 | | $ | 1,069.1 | | $ | 386.6 | | $ | 218.5 | Funded Status as of December 31st | $ | (67.1) | | $ | (118.0) | | $ | (0.4) | | $ | 16.5 | | $ | (240.4) | | $ | (360.9) | | $ | (189.4) | | $ | (24.6) | | | | | | | | | | | | | | | | | | | | | | | | | | (1) NSTAR amounts were included in NU beginning April 10, 2012. | | | | | | | | | | | | | | | | | | | | | | | | | | | (2) NSTAR Electric amounts do not include benefit obligations of the NSTAR SERP Plan. | | | | As of December 31, 2013, prepaid pension assets of $3 million and $17 million for PSNH and WMECO, respectively, were included in Other Long-term Assets on their accompanying balance sheets. Pension and SERP benefits funded status includes the current portion of the SERP liability, which is included in Other Current Liabilities on the accompanying balance sheets. | | | | | | | | | | | | | | | | | | | | | | | | | | Although NU maintains marketable securities in a supplemental benefit trust, the plan itself does not contain any assets. See Note 6, "Marketable Securities," to the financial statements. |
| | PBOP | | | As of December 31, | | | 2013 | | 2012 | (Millions of Dollars) | NU | | CL&P | | PSNH | | WMECO | | NU (1) | | CL&P | | PSNH | | WMECO | Change in Benefit Obligation | | | | | | | | | | | | | | | | | | | | | | | | Benefit Obligation as of Beginning of Year | $ | (1,233.3) | | $ | (196.8) | | $ | (100.2) | | $ | (42.5) | | $ | (520.9) | | $ | (198.9) | | $ | (99.2) | | $ | (42.9) | Liabilities Assumed from Merger with NSTAR | | - | | | - | | | - | | | - | | | (770.6) | | | - | | | - | | | - | Service Cost | | (16.9) | | | (3.4) | | | (2.3) | | | (0.7) | | | (15.7) | | | (3.0) | | | (2.0) | | | (0.6) | Interest Cost | | (47.2) | | | (7.9) | | | (4.0) | | | (1.7) | | | (49.0) | | | (9.2) | | | (4.6) | | | (2.0) | Actuarial Gain | | 200.9 | | | 13.3 | | | 7.2 | | | 3.3 | | | 70.9 | | | 1.2 | | | 0.3 | | | 0.1 | Federal Subsidy on Benefits Paid | | - | | | - | | | - | | | - | | | (6.2) | | | (1.7) | | | (0.6) | | | (0.3) | Benefits Paid | | 58.5 | | | 14.4 | | | 5.8 | | | 2.9 | | | 58.2 | | | 14.8 | | | 5.9 | | | 3.2 | Benefit Obligation as of End of Year | $ | (1,038.0) | | $ | (180.4) | | $ | (93.5) | | $ | (38.7) | | $ | (1,233.3) | | $ | (196.8) | | $ | (100.2) | | $ | (42.5) | Change in Plan Assets | | | | | | | | | | | | | | | | | | | | | | | | Fair Value of Plan Assets as of Beginning of Year | $ | 709.1 | | $ | 132.2 | | $ | 69.5 | | $ | 31.0 | | $ | 285.4 | | $ | 112.2 | | $ | 58.7 | | $ | 27.1 | Assets Assumed from Merger with NSTAR | | - | | | - | | | - | | | - | | | 330.4 | | | - | | | - | | | - | Actual Return on Plan Assets | | 118.3 | | | 24.8 | | | 13.4 | | | 6.0 | | | 78.8 | | | 15.0 | | | 7.5 | | | 3.5 | Employer Contributions | | 57.6 | | | 8.7 | | | 4.7 | | | 1.2 | | | 72.7 | | | 19.8 | | | 9.2 | | | 3.6 | Benefits Paid | | (58.5) | | | (14.4) | | | (5.8) | | | (2.9) | | | (58.2) | | | (14.8) | | | (5.9) | | | (3.2) | Fair Value of Plan Assets as of End of Year | $ | 826.5 | | $ | 151.3 | | $ | 81.8 | | $ | 35.3 | | $ | 709.1 | | $ | 132.2 | | $ | 69.5 | | $ | 31.0 | Funded Status as of December 31st | $ | (211.5) | | $ | (29.1) | | $ | (11.7) | | $ | (3.4) | | $ | (524.2) | | $ | (64.6) | | $ | (30.7) | | $ | (11.5) | | | | | | | | | | | | | | | | | | | | | | | | | | (1) | NU results include NSTAR PBOP Plan activity beginning April 10, 2012. |
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Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] |
| | NU Pension Plans | | | | | | United | | | | | | | | Real Estate | | | | | | | States | | | | Private | | Fixed | | and Other | | Hedge | | | (Millions of Dollars) | Equity | | International | | Equity | | Income | | Assets | | Funds | | Total | Balance as of January 1, 2012 | $ | 259.4 | | $ | - | | $ | 255.1 | | $ | 276.2 | | $ | 71.8 | | $ | 240.0 | | $ | 1,102.5 | Assets Assumed from Merger with NSTAR | | - | | | 41.4 | | | - | | | - | | | 111.0 | | | 126.6 | | | 279.0 | Actual Return/(Loss) on Plan Assets: | | | | | | | | | | | | | | | | | | | | | | Relating to Assets Still Held as of Year End | | 11.2 | | | 10.7 | | | 17.0 | | | 42.1 | | | 5.7 | | | 21.8 | | | 108.5 | | Relating to Assets Distributed During the Year | | - | | | - | | | 15.0 | | | 0.7 | | | 7.6 | | | (0.3) | | | 23.0 | Purchases, Sales and Settlements | | - | | | - | | | (19.2) | | | (3.9) | | | 39.3 | | | 30.8 | | | 47.0 | Balance as of December 31, 2012 | $ | 270.6 | | $ | 52.1 | | $ | 267.9 | | $ | 315.1 | | $ | 235.4 | | $ | 418.9 | 0 | $ | 1,560.0 | Transfer Between Categories | | - | | | - | | | - | | | 32.5 | | | - | | | (32.5) | | | - | Actual Return/(Loss) on Plan Assets: | | | | | | | | | | | | | | | | | | | | | | Relating to Assets Still Held as of Year End | | 11.2 | | | 9.4 | | | 15.4 | | | 55.3 | | | 12.9 | | | 33.4 | | | 137.6 | | Relating to Assets Distributed During the Year | | 12.2 | | | - | | | 13.7 | | | (1.0) | | | 6.2 | | | - | | | 31.1 | Purchases, Sales and Settlements | | (100.0) | | | - | | | 3.3 | | | 187.6 | | | 34.0 | | | (2.9) | | | 122.0 | Balance as of December 31, 2013 | $ | 194.0 | | $ | 61.5 | | $ | 300.3 | | $ | 589.5 | | $ | 288.5 | | $ | 416.9 | | $ | 1,850.7 | | | | | | | | | | | | | | | | | | | | | | | | | NU PBOP Plans | | | | | | United | | | | | | | | Real Estate | | | | | | | | | | | | States | | Private | | Fixed | | and Other | | | Hedge | | | | | | | (Millions of Dollars) | Equity | | Equity | | Income | | Assets | | | Funds | | | Total | | | | Balance as of January 1, 2012 | $ | 10.7 | | $ | 5.1 | | $ | 26.0 | | $ | 2.5 | | $ | 16.1 | | $ | 60.4 | | | | Assets Assumed from Merger with NSTAR | | 19.7 | | | - | | | - | | | 18.4 | | | 21.4 | | | 59.5 | | | | Actual Return on Plan Assets: | | | | | | | | | | | | | | | | | | | | | | Relating to Assets Still Held as of Year End | | 5.9 | | | 1.6 | | | 4.0 | | | 3.0 | | | 2.1 | | | 16.6 | | | | Purchases, Sales and Settlements | | - | | | 4.6 | | | 2.1 | | | 2.8 | | | - | | | 9.5 | | | | Balance as of December 31, 2012 | $ | 36.3 | | $ | 11.3 | | $ | 32.1 | | $ | 26.7 | | $ | 39.6 | | $ | 146.0 | | | | Actual Return/(Loss) on Plan Assets: | | | | | | | | | | | - | | | | | | | | | | | Relating to Assets Still Held as of Year End | | 20.8 | | | 1.5 | | | 4.1 | | | 3.9 | | | 5.4 | | | 35.7 | | | | | Relating to Assets Distributed During the Year | | - | | | 0.2 | | | - | | | (0.1) | | | - | | | 0.1 | | | | Purchases, Sales and Settlements | | 12.0 | | | 4.9 | | | 15.3 | | | 3.4 | | | 12.0 | | | 47.6 | | | | Balance as of December 31, 2013 | $ | 69.1 | | $ | 17.9 | | $ | 51.5 | | $ | 33.9 | | $ | 57.0 | | $ | 229.4 | | | | | | | | | | | | | | | | | | | | | | | | | | | | NSTAR Pension Plan | | | United | | | | | | | | | | | Real Estate | | | | | | | | | States | | | | | Private | | Fixed | | and Other | | | Hedge | | | | (Millions of Dollars) | Equity | | International | | | Equity | | Income | | Assets | | | Funds | | | Total | Balance as of January 1, 2012 | $ | - | | $ | 41.4 | | $ | - | | $ | - | | $ | 111.0 | | $ | 126.6 | | $ | 279.0 | Actual Return/(Loss) on Plan Assets: | | | | | | | | | | | | | | | | | | | | | | Relating to Assets Still Held as of Year End | | - | | | 10.7 | | | - | | | - | | | 9.9 | | | 5.6 | | | 26.2 | | Relating to Assets Distributed During the Year | | - | | | - | | | - | | | - | | | - | | | (0.3) | | | (0.3) | Purchases, Sales and Settlements | | - | | | - | | | - | | | - | | | 6.3 | | | (9.2) | | | (2.9) | Balance as of December 31, 2012 | $ | - | | $ | 52.1 | | $ | - | | $ | - | | $ | 127.2 | | $ | 122.7 | | $ | 302.0 | Transfer of Assets into NUSCO Pension Plan Trust | | 80.5 | | | (36.6) | | $ | 79.7 | | | 93.8 | | | (57.1) | | | 2.0 | | | 162.3 | Transfer Between Categories | | - | | | - | | | - | | | 9.7 | | | - | | | (9.7) | | | - | Actual Return/(Loss) on Plan Assets: | | | | | | | | | | | | | | | | | | | | | | Relating to Assets Still Held as of Year End | | 3.5 | | | 2.8 | | | 4.6 | | | 16.4 | | | 3.5 | | | 9.9 | | | 40.7 | | Relating to Assets Distributed During the Year | | 3.6 | | | - | | | 4.2 | | | (0.3) | | | 1.8 | | | - | | | 9.3 | Purchases, Sales and Settlements | | (29.8) | | | - | | | 0.9 | | | 55.8 | | | 10.2 | | | (0.8) | | | 36.3 | Balance as of December 31, 2013 | $ | 57.8 | | $ | 18.3 | | $ | 89.4 | | $ | 175.4 | | $ | 85.6 | | $ | 124.1 | | $ | 550.6 |
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Schedule of Allocation of Plan Assets [Table Text Block] |
| | As of December 31, | | | 2013 | | 2012 | | | NUSCO and NSTAR Pension | | NUSCO Pension | | | | | | | | | | | and Tax-Exempt PBOP Plans(1) | | and PBOP Plans | | NSTAR Pension Plan | | NSTAR PBOP Plan | | | Target | | Assumed | | Target | | Assumed | | Target | | Assumed | | Target | | Assumed | | | Asset | | Rate | | Asset | | Rate | | Asset | | Rate | | Asset | | Rate | | | Allocation | | of Return | | Allocation | | of Return | | Allocation | | of Return | | Allocation | | of Return | Equity Securities: | | | | | | | | | | | | | | | | | United States | 24% | | 9% | | 24% | | 9% | | 25% | | 8.3% | | 25% | | 8.3% | | International | 10% | | 9% | | 13% | | 9% | | 13% | | 8.6% | | 20% | | 8.6% | | Emerging Markets | 6% | | 10% | | 3% | | 10% | | 5% | | 8.8% | | 5% | | 8.8% | | Private Equity | 10% | | 13% | | 12% | | 13% | | - | | - | | - | | - | Debt Securities: | | | | | | | | | | | | | | | | | Fixed Income | 15% | | 5% | | 20% | | 5% | | 21% | | 4.6% | | 30% | | 4.6% | | High Yield Fixed Income | 9% | | 7.5% | | 3.5% | | 7.5% | | 9% | | 6.5% | | - | | - | | Emerging Markets Debt | 6% | | 7.5% | | 3.5% | | 7.5% | | 4% | | 6.4% | | - | | - | Real Estate and Other Assets | 9% | | 7.5% | | 8% | | 7.5% | | 10% | | 7.9% | | 10% | | 7.9% | Hedge Funds | 11% | | 7% | | 13% | | 7% | | 13% | | 8.4% | | 10% | | 8.4% | | | | | | | | | | | | | | | | | |
| | | NU Pension Plans | | | | Fair Value Measurements as of December 31, | | (Millions of Dollars) | 2013 | | 2012 | | Asset Category: | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | | Equity Securities: | | | | | | | | | | | | | | | | | | | | | | | | | | United States (1) | $ | 294.6 | | $ | 597.7 | | $ | 194.0 | | $ | 1,086.3 | | $ | 336.5 | | $ | 302.8 | | $ | 270.6 | | $ | 909.9 | | | International (1) | | 32.2 | | | 362.6 | | | 61.5 | | | 456.3 | | | 42.0 | | | 362.6 | | | 52.1 | | | 456.7 | | | Emerging Markets (1) | | - | | | 211.8 | | | - | | | 211.8 | | | - | | | 135.3 | | | - | | | 135.3 | | | Private Equity | | 96.4 | | | - | | | 300.3 | | | 396.7 | | | 26.7 | | | - | | | 267.9 | | | 294.6 | | Fixed Income(2) | | 11.6 | | | 605.1 | | | 589.5 | | | 1,206.2 | | | 54.9 | | | 629.2 | | | 315.1 | | | 999.2 | | Real Estate and Other Assets | | - | | | 88.2 | | | 288.5 | | | 376.7 | | | - | | | 78.9 | | | 235.4 | | | 314.3 | | Hedge Funds | | - | | | - | | | 416.9 | | | 416.9 | | | - | | | - | | | 418.9 | | | 418.9 | | Total Master Trust Assets | $ | 434.8 | | $ | 1,865.4 | | $ | 1,850.7 | | $ | 4,150.9 | | $ | 460.1 | | $ | 1,508.8 | | $ | 1,560.0 | | $ | 3,528.9 | | | Less: 401(h) PBOP Assets(3) | | | | | | | | | | | (165.0) | | | | | | | | | | | | (117.6) | | Total Pension Assets | | | | | | | | | | $ | 3,985.9 | | | | | | | | | | | $ | 3,411.3 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | NSTAR Pension Plan | | | | Fair Value Measurements as of December 31, | | (Millions of Dollars) | 2013 | | 2012 | | Asset Category: | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | | Equity Securities: | | | | | | | | | | | | | | | | | | | | | | | | | | United States (1) | $ | 87.7 | | $ | 177.9 | | $ | 57.8 | | $ | 323.4 | | $ | 96.7 | | $ | 246.4 | | $ | - | | $ | 343.1 | | | International(1) | | 9.6 | | | 108.0 | | | 18.3 | | | 135.9 | | | - | | | 98.3 | | | 52.1 | | | 150.4 | | | Emerging Markets(1) | | - | | | 63.1 | | | - | | | 63.1 | | | - | | | 55.9 | | | - | | | 55.9 | | | Private Equity | | 28.7 | | | - | | | 89.4 | | | 118.1 | | | | | | | | | | | | | | Fixed Income(2) | | 3.4 | | | 180.0 | | | 175.4 | | | 358.8 | | | 54.9 | | | 292.5 | | | - | | | 347.4 | | Real Estate and Other Assets | | - | | | 26.3 | | | 85.6 | | | 111.9 | | | - | | | - | | | 127.2 | | | 127.2 | | Hedge Funds | | - | | | - | | | 124.1 | | | 124.1 | | | - | | | - | | | 122.7 | | | 122.7 | | Total Master Trust Assets | $ | 129.4 | | $ | 555.3 | | $ | 550.6 | | $ | 1,235.3 | | $ | 151.6 | | $ | 693.1 | | $ | 302.0 | | $ | 1,146.7 | | | Less: 401(h) PBOP Assets(3) | | | | | | | | | | | | | | | | | | | | | | | (77.6) | | Total Pension Assets | | | | | | | | | | | | | | | | | | | | | | $ | 1,069.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | NU PBOP Plans | | | | Fair Value Measurements as of December 31, | | (Millions of Dollars) | 2013 | | 2012 | | Asset Category: | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | | Cash and Cash Equivalents | $ | 11.1 | | $ | - | | $ | - | | $ | 11.1 | | $ | 9.7 | | $ | - | | $ | - | | $ | 9.7 | | Equity Securities: | | | | | | | | | | | | | | | | | | | | | | | | | | United States(1) | | 67.0 | | | 120.6 | | | 69.1 | | | 256.7 | | | 116.3 | | | 57.7 | | | 36.3 | | | 210.3 | | | International(1) | | 28.1 | | | 42.8 | | | - | | | 70.9 | | | 68.0 | | | 29.7 | | | - | | | 97.7 | | | Emerging Markets(1) | | 15.2 | | | 13.4 | | | - | | | 28.6 | | | 7.7 | | | 14.0 | | | - | | | 21.7 | | | Private Equity | | - | | | - | | | 17.9 | | | 17.9 | | | - | | | - | | | 11.3 | | | 11.3 | | Fixed Income (2) | | - | | | 119.7 | | | 51.5 | | | 171.2 | | | - | | | 137.7 | | | 32.1 | | | 169.8 | | Real Estate and Other Assets | | - | | | 14.2 | | | 33.9 | | | 48.1 | | | - | | | 4.7 | | | 26.7 | | | 31.4 | | Hedge Funds | | - | | | - | | | 57.0 | | | 57.0 | | | - | | | - | | | 39.6 | | | 39.6 | | Total | $ | 121.4 | | $ | 310.7 | | $ | 229.4 | | $ | 661.5 | | $ | 201.7 | | $ | 243.8 | | $ | 146.0 | | $ | 591.5 | | | Add: 401(h) PBOP Assets(3) | | | | | | | | | | | 165.0 | | | | | | | | | | | | 117.6 | | Total PBOP Assets | | | | | | | | | | $ | 826.5 | | | | | | | | | | | $ | 709.1 |
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