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LEASES
12 Months Ended
Dec. 31, 2015
Notes To Consolidated Financial Statements [Abstract]  
Leases of Lessee Disclosure [Text Block]

LEASES

 

Eversource, including CL&P, NSTAR Electric, PSNH and WMECO, has entered into lease agreements, some of which are capital leases, for the use of data processing and office equipment, vehicles, service centers, and office space. In addition, CL&P, NSTAR Electric, PSNH and WMECO incur costs associated with leases entered into by Eversource Service and Rocky River Realty Company, which are included below in their respective operating lease rental expenses and future minimum rental payments. These intercompany lease amounts are eliminated on an Eversource consolidated basis. The provisions of the Eversource, CL&P, NSTAR Electric, PSNH, and WMECO lease agreements generally contain renewal options. Certain lease agreements contain payments impacted by the commercial paper rate plus a credit spread or the consumer price index.

 

Operating lease rental payments charged to expense are as follows:

        NSTAR     
(Millions of Dollars)Eversource CL&P Electric  PSNH WMECO
2015$ 12.1 $ 12.5 $ 9.6 $ 2.8 $ 2.2
2014  14.3   6.0   7.8   1.5   1.2
2013  16.3   8.1   6.7   1.7   2.9

The 2015 rental payments above for CL&P, NSTAR Electric, PSNH, and WMECO include an intercompany rate of return, property tax and operational expense component paid to Rocky River Realty Company.

 

Future minimum rental payments, excluding executory costs, such as property taxes, state use taxes, insurance, and maintenance, under long-term noncancelable leases, as of December 31, 2015 are as follows:

Operating Leases      NSTAR      
(Millions of Dollars)Eversource CL&P Electric PSNH WMECO
2016$16.4 $2.9 $9.7 $0.8 $0.8
2017 13.8  2.0  8.5  0.7  0.7
2018 10.4  1.3  6.5  0.5  0.6
2019 8.5  1.0  5.3  0.4  0.5
2020 6.8  0.7  4.3  0.3  0.5
Thereafter 15.4  1.7  9.0  0.7  1.8
Future minimum lease payments$71.3 $9.6 $43.3 $3.4 $4.9

Capital Leases        
(Millions of Dollars)Eversource CL&P PSNH
2016$2.2 $1.9 $0.3
2017 2.1  1.9  0.2
2018 2.1  2.0  0.1
2019 2.0  2.0  0.0
2020 2.0  2.0  0.0
Thereafter 1.4  1.4  0.0
Future minimum lease payments 11.8  11.2  0.6
Less amount representing interest 3.6  3.6  0.0
Present value of future minimum lease payments$8.2 $7.6 $0.6

CL&P entered into certain contracts for the purchase of energy that qualify as leases. These contracts do not have minimum lease payments and therefore are not included in the tables above. However, such contracts have been included in the contractual obligations table in Note 11B, "Commitments and Contingencies - Long-Term Contractual Arrangements," to the financial statements.