ACCUMULATED OTHER COMPREHENSIVE INCOME

12 Months Ended

Dec. 31, 2014

Notes To Consolidated Financial Statements [Abstract]

Comprehensive Income Note [Text Block]

14.       ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

The changes in accumulated other comprehensive income/(loss) by component, net of tax effect, is as follows:

	For the Year Ended December 31, 2014								For the Year Ended December 31, 2013
	Qualified		Unrealized						Qualified		Unrealized
	Cash Flow		Gains/(Losses)		Defined				Cash Flow		Gains/(Losses)		Defined
	Hedging		on Marketable		Benefit				Hedging		on Marketable		Benefit
(Millions of Dollars)	Instruments		Securities		Plans		Total		Instruments		Securities		Plans		Total
AOCI as of January 1st	$	(14.4)	$	0.4	$	(32.0)	$	(46.0)	$	(16.4)	$	1.3	$	(57.8)	$	(72.9)
OCI Before Reclassifications		-		0.3		(34.2)		(33.9)		-		(0.9)		19.4		18.5
Amounts Reclassified from AOCI		2.0		-		3.9		5.9		2.0		-		6.4		8.4
Net OCI		2.0		0.3		(30.3)		(28.0)		2.0		(0.9)		25.8		26.9
AOCI as of December 31st	$	(12.4)	$	0.7	$	(62.3)	$	(74.0)	$	(14.4)	$	0.4	$	(32.0)	$	(46.0)

NU's qualified cash flow hedging instruments represent interest rate swap agreements on debt issuances that were settled in prior years. The settlement amount was recorded in AOCI and is being amortized into Net Income over the term of the underlying debt instrument. CL&P, PSNH and WMECO continue to amortize interest rate swaps settled in prior years from AOCI into Interest Expense over the remaining life of the associated long-term debt, which are not material to their respective financial statements.

The tax effects of Defined Benefit Plan OCI amounts before reclassifications, which relate to actuarial gains and losses that arose during 2014, 2013 and 2012 were recognized in AOCI as net deferred tax assets of $22.3 million and $6.2 millionin 2014 and 2012, respectively, and net deferred tax liabilities of $11.4 million in 2013.

The following table sets forth the amountsreclassified from AOCI by component and the impacted line item on the statements of income:

	For the Years Ended December 31,
	2014		2013		2012
	Amounts Reclassified		Amounts Reclassified		Amounts Reclassified		Statements of Income
(Millions of Dollars)	from AOCI		from AOCI		from AOCI		Line Item Impacted
Qualified Cash Flow Hedging Instruments	$	(3.4)	$	(3.4)	$	(3.3)	Interest Expense
Tax Effect		1.4		1.4		1.3	Income Tax Expense
Qualified Cash Flow Hedging Instruments, Net of Tax	$	(2.0)	$	(2.0)	$	(2.0)
Defined Benefit Plan Costs:
Amortization of Actuarial Losses	$	(6.2)	$	(10.5)	$	(8.9)	Operations and Maintenance (1)
Amortization of Prior Service Cost		(0.2)		(0.2)		(0.2)	Operations and Maintenance (1)
Amortization of Transition Obligation		0.0		0.0		(0.2)	Operations and Maintenance (1)
Total Defined Benefit Plan Costs		(6.4)		(10.7)		(9.3)
Tax Effect		2.5		4.3		3.5	Income Tax Expense
Defined Benefit Plan Costs, Net of Tax	$	(3.9)	$	(6.4)	$	(5.8)
Total Amounts Reclassified from AOCI, Net of Tax	$	(5.9)	$	(8.4)	$	(7.8)

(1)       These amounts are included in the computation of net periodic Pension, SERP and PBOP costs. See Note 9A, "Employee Benefits - Pension Benefits and Postretirement Benefits Other Than Pensions," for further information.

As of December 31, 2014, it is estimated that a pre-tax amount of $3.5 million ($0.7 million for CL&P, $2 million for PSNH and $0.6 million for WMECO) will be reclassified from AOCI as a decrease to Net Income over the next 12 months as a result of the amortization of the interest rate swap agreements, which have been settled. In addition, it is estimated that a pre-tax amount of $6.9 million will be reclassified from AOCI as a decrease to Net Income over the next 12 months as a result of the amortization of Pension, SERP and PBOP costs.