INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Notes To Consolidated Financial Statements [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

NU	For the Years Ended December 31,
(Millions of Dollars)	2014		2013		2012 ⁽¹⁾
Current Income Taxes:
Federal	$	4.4	$	8.8	$	(30.9)
State		24.5		(9.4)		17.6
Total Current		28.9		(0.6)		(13.3)
Deferred Income Taxes, Net:
Federal		406.8		386.2		291.3
State		36.5		45.4		0.8
Total Deferred		443.3		431.6		292.1
Investment Tax Credits, Net		(3.9)		(4.1)		(3.9)
Income Tax Expense	$	468.3	$	426.9	$	274.9

⁽¹⁾ NSTAR amounts were included in NU beginning April 10, 2012.

		For the Years Ended December 31,
		2014								2013								2012
				NSTAR								NSTAR								NSTAR
(Millions of Dollars)		CL&P		Electric		PSNH		WMECO		CL&P		Electric		PSNH		WMECO		CL&P		Electric		PSNH		WMECO
Current Income Taxes:
	Federal	$	(0.2)	$	75.0	$	(22.6)	$	1.9	$	20.1	$	95.8	$	(8.2)	$	(53.4)	$	(47.8)	$	93.5	$	(0.9)	$	(24.7)
	State		4.3		20.2		(0.1)		1.8		(6.7)		29.6		3.6		4.2		3.1		27.6		3.4		3.4
Total Current			4.1		95.2		(22.7)		3.7		13.4		125.4		(4.6)		(49.2)		(44.7)		121.1		2.5		(21.3)
Deferred Income Taxes, Net:
	Federal		138.0		88.0		79.6		28.1		114.9		49.8		64.5		84.7		141.5		11.4		46.5		51.2
	State		(7.1)		20.1		15.2		6.0		15.1		(1.0)		11.2		2.3		(0.5)		(7.1)		12.0		2.7
Total Deferred			130.9		108.1		94.8		34.1		130.0		48.8		75.7		87.0		141.0		4.3		58.5		53.9
Investment Tax Credits, Net			(1.5)		(1.3)		-		(0.5)		(1.7)		(1.3)		-		(0.4)		(1.9)		(1.4)		-		(0.5)
Income Tax Expense		$	133.5	$	202.0	$	72.1	$	37.3	$	141.7	$	172.9	$	71.1	$	37.4	$	94.4	$	124.0	$	61.0	$	32.1

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation between income tax expense and the expected tax expense at the statutory rate is as follows:

NU		For the Years Ended December 31,
(Millions of Dollars, except percentages)		2014		2013		2012 ⁽¹⁾
Income Before Income Tax Expense		$	1,295.4	$	1,220.6	$	808.0

Statutory Federal Income Tax Expense at 35%			453.4		427.2		282.8
Tax Effect of Differences:
	Depreciation		(5.6)		(7.4)		(10.8)
	Investment Tax Credit Amortization		(3.9)		(4.1)		(3.9)
	Other Federal Tax Credits		(3.5)		(3.7)		(3.8)
	State Income Taxes, Net of Federal Impact		42.5		27.6		4.4
	Dividends on ESOP		(8.0)		(8.0)		(6.4)
	Tax Asset Valuation Allowance/Reserve Adjustments		(2.9)		(4.3)		7.6
	Other, Net		(3.7)		(0.4)		5.0
Income Tax Expense		$	468.3	$	426.9	$	274.9
Effective Tax Rate			36.2%		35.0%		34.0%

⁽¹⁾ NSTAR amounts were included in NU beginning April 10, 2012.

		For the Years Ended December 31,
		2014								2013								2012
(Millions of Dollars,				NSTAR								NSTAR								NSTAR
	except percentages)	CL&P		Electric		PSNH		WMECO		CL&P		Electric		PSNH		WMECO		CL&P		Electric		PSNH		WMECO
Income Before Income Tax Expense		$	421.2	$	505.1	$	186.1	$	95.1	$	421.1	$	441.4	$	182.5	$	97.8	$	304.2	$	314.2	$	157.9	$	86.6

Statutory Federal Income Tax Expense at 35%			147.4		176.8		65.1		33.3		147.4		154.5		63.9		34.2		106.5		110.0		55.3		30.3
Tax Effect of Differences:
	Depreciation		(3.6)		(1.3)		0.3		(0.2)		(7.0)		0.1		0.6		-		(9.0)		-		(0.3)		0.2
	Investment Tax Credit Amortization		(1.5)		(1.3)		-		(0.5)		(1.7)		(1.3)		-		(0.4)		(1.9)		(1.4)		-		(0.5)
	Other Federal Tax Credits		-		-		(3.5)		-		-		-		(3.7)		-		-		-		(3.8)		-
	State Income Taxes, Net of Federal Impact		4.4		26.2		9.8		5.0		5.0		18.6		9.6		4.2		0.1		13.4		10.0		4.0
	Tax Asset Valuation Allowance/ Reserve Adjustments		(6.3)		-		-		-		0.4		-		-		-		1.6		-		-		-
	Other, Net		(6.9)		1.6		0.4		(0.3)		(2.4)		1.0		0.7		(0.6)		(2.9)		2.0		(0.2)		(1.9)
Income Tax Expense		$	133.5	$	202.0	$	72.1	$	37.3	$	141.7	$	172.9	$	71.1	$	37.4	$	94.4	$	124.0	$	61.0	$	32.1
Effective Tax Rate			31.7%		40.0%		38.7%		39.2%		33.6%		39.2%		39.0%		38.2%		31.0%		39.5%		38.6%		37.1%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

NU			As of December 31,
(Millions of Dollars)			2014		2013
Deferred Tax Assets:
	Employee Benefits		$	632.2	$	435.2
	Derivative Liabilities			199.6		272.9
	Regulatory Deferrals - Liabilities			366.7		272.7
	Allowance for Uncollectible Accounts			60.5		65.0
	Tax Effect - Tax Regulatory Liabilities			10.0		16.2
	Federal Net Operating Loss Carryforwards			59.1		158.0
	Purchase Accounting Adjustment			126.2		132.8
	Other			198.7		230.6
Total Deferred Tax Assets				1,653.0		1,583.4
	Less: Valuation Allowance			5.1		24.3
Net Deferred Tax Assets			$	1,647.9	$	1,559.1
Deferred Tax Liabilities:
	Accelerated Depreciation and Other Plant-Related Differences		$	4,215.9	$	3,806.5
	Property Tax Accruals			109.6		95.1
	Regulatory Amounts:
		Regulatory Deferrals - Assets		1,277.9		1,146.7
		Tax Effect - Tax Regulatory Assets		240.2		248.2
		Goodwill Regulatory Asset - 1999 Merger		203.2		211.5
		Derivative Assets		32.6		30.1
		Other		196.3		157.1
Total Deferred Tax Liabilities			$	6,275.7	$	5,695.2

			As of December 31,
			2014								2013
					NSTAR								NSTAR
(Millions of Dollars)			CL&P		Electric		PSNH		WMECO		CL&P		Electric		PSNH		WMECO
Deferred Tax Assets:
	Employee Benefits		$	129.0	$	39.9	$	46.8	$	9.2	$	56.0	$	38.3	$	15.5	$	(1.8)
	Derivative Liabilities			193.0		1.8		-		-		272.4		3.3		-		(2.9)
	Regulatory Deferrals - Liabilities			73.9		181.3		46.5		11.4		61.5		114.7		40.9		1.0
	Allowance for Uncollectible Accounts			32.3		13.8		3.2		3.8		31.2		15.4		3.1		3.3
	Tax Effect - Tax Regulatory Liabilities			3.1		1.8		2.1		2.5		4.7		5.4		2.1		1.6
	Federal Net Operating Loss Carryforwards			-		-		32.1		4.5		51.0		-		56.6		18.6
	Other			53.8		19.9		48.9		4.9		75.3		31.3		40.3		8.3
Total Deferred Tax Assets				485.1		258.5		179.6		36.3		552.1		208.4		158.5		28.1
	Less: Valuation Allowance			4.0		-		-		-		23.1		-		-		-
Net Deferred Tax Assets			$	481.1	$	258.5	$	179.6	$	36.3	$	529.0	$	208.4	$	158.5	$	28.1
Deferred Tax Liabilities:
	Accelerated Depreciation and Other Plant-Related Differences		$	1,378.6	$	1,296.9	$	596.6	$	385.8	$	1,238.1	$	1,179.4	$	526.6	$	361.1
	Property Tax Accruals			58.1		25.0		7.4		12.8		49.3		25.3		7.1		5.9
	Regulatory Amounts:
		Regulatory Deferrals - Assets		502.3		276.0		147.6		60.4		550.4		276.2		109.3		49.3
		Tax Effect - Tax Regulatory Assets		166.9		35.5		15.9		9.3		160.1		36.0		16.3		18.2
		Goodwill Regulatory Asset - 1999 Merger		-		174.4		-		-		-		181.6		-		-
		Derivative Assets		32.6		-		-		-		29.0		0.5		-		-
		Other		19.4		33.5		35.6		2.8		20.6		26.4		28.0		3.6
Total Deferred Tax Liabilities			$	2,157.9	$	1,841.3	$	803.1	$	471.1	$	2,047.5	$	1,725.4	$	687.3	$	438.1

Summary of Operating Loss Carryforwards [Table Text Block]

Carryforwards: The following tables provide the amounts and expiration dates of state tax credit and loss carryforwards and federal tax credit and net operating loss carryforwards:

	As of December 31, 2014
					NSTAR
(Millions of Dollars)	NU		CL&P		Electric		PSNH		WMECO		Expiration Range
Federal Net Operating Loss	$	168.8	$	-	$	-	$	91.8	$	12.7	2031 - 2032
Federal Tax Credit		16.3		0.1		0.2		11.1		-	2031 - 2034
Federal Charitable Contribution		19.4		-		-		-		-	2016 - 2018
State Tax Credit		99.7		71.0		-		-		-	2014 - 2019
State Loss Carryforwards		40.6		-		-		-		-	2014 - 2034
State Charitable Contribution		2.1		-		-		-		-	2015 - 2018

	As of December 31, 2013
					NSTAR
(Millions of Dollars)	NU		CL&P		Electric		PSNH		WMECO		Expiration Range
Federal Net Operating Loss	$	451.3	$	145.8	$	-	$	161.8	$	53.3	2031 - 2032
Federal Tax Credit		8.0		-		-		7.6		-	2031 - 2033
Federal Charitable Contribution		33.7		-		-		-		-	2015 - 2017
State Tax Credit		104.7		86.8		-		-		-	2013 - 2018
State Loss Carryforwards		12.1		-		-		-		-	2013 - 2015
State Charitable Contribution		1.0		-		-		-		-	2015

Summary of Income Tax Contingencies [Table Text Block]

(Millions of Dollars)		NU		CL&P
Balance as of January 1, 2012		$	73.5	$	46.5
	Gross Increases - Current Year		10.3		2.5
	Gross Increases - Prior Year		0.1		-
	Gross Decreases - Prior Year		(0.8)		-
Balance as of December 31, 2012			83.1		49.0
	Gross Increases - Current Year		8.2		2.1
	Gross Decreases - Prior Year		(1.1)		(0.3)
	Settlements		(49.8)		(39.4)
	Lapse of Statute of Limitations		(2.2)		-
Balance as of December 31, 2013			38.2		11.4
	Gross Increases - Current Year		9.3		2.7
	Gross Increases - Prior Year		0.3		0.2
	Lapse of Statute of Limitations		(1.6)		-
Balance as of December 31, 2014		$	46.2	$	14.3

Other Interest	For the Years Ended December 31,						Accrued Interest	As of December 31,
Expense/(Income)	2014		2013		2012		Expense	2014		2013
(Millions of Dollars)							(Millions of Dollars)
NU ⁽¹⁾	$	0.4	$	(8.6)	$	3.1	NU	$	1.9	$	1.5
CL&P		-		(4.0)		1.3	CL&P		-		-

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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