EX-99 4 march2017brokersstatements.htm BROKER'S STATEMENT Converted by EDGARwiz

EXHIBIT 99.2

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)


(Thousands of Dollars)

As of March 31, 2017


As of December 31, 2016





ASSETS




Current Assets:




  Cash and Cash Equivalents

$

45,763



$

30,251


 

  Receivables, Net

879,451



847,301


 

  Unbilled Revenues

166,710



168,490


 

  Fuel, Materials, Supplies and Inventory

361,779



328,721


 

  Regulatory Assets

875,037



887,625


 

  Prepayments and Other Current Assets

182,659



215,284


 

Total Current Assets

2,511,399



2,477,672


 





Property, Plant and Equipment, Net

21,641,898



21,350,510


 





Deferred Debits and Other Assets:




  Regulatory Assets

3,564,700



3,638,688


 

  Goodwill

3,519,401



3,519,401


 

  Marketable Securities

561,585



544,642


 

  Other Long-Term Assets

556,193



522,260


 

Total Deferred Debits and Other Assets

8,201,879



8,224,991


 





Total Assets

$

32,355,176



$

32,053,173


 





LIABILITIES AND CAPITALIZATION




Current Liabilities:




  Notes Payable

$

975,500



$

1,148,500


 

  Long-Term Debt Current Portion

773,883



773,883


 

  Accounts Payable

745,856



884,521


 

  Regulatory Liabilities

199,160



146,787


 

  Other Current Liabilities

639,366



684,914


 

Total Current Liabilities

3,333,765



3,638,605


 





Deferred Credits and Other Liabilities:




  Accumulated Deferred Income Taxes

5,758,603



5,607,207


 

  Regulatory Liabilities

692,989



702,255


 

  Derivative Liabilities

415,795



413,676


 

  Accrued Pension and SERP

1,077,593



1,141,514


 

  Other Long-Term Liabilities

848,776



853,260


 

Total Deferred Credits and Other Liabilities

8,793,756



8,717,912


 





Capitalization:




  Long-Term Debt

9,267,891



8,829,354


 





  Noncontrolling Interest - Preferred Stock of Subsidiaries

155,568



155,568


 





  Equity:




    Common Shareholders' Equity:




       Common Shares

1,669,392



1,669,392


 

       Capital Surplus, Paid In

6,230,608



6,250,224


 

       Retained Earnings

3,284,108



3,175,171


 

      Accumulated Other Comprehensive Loss

(62,141

)


(65,282

)

 

       Treasury Stock

(317,771

)


(317,771

)

 

    Common Shareholders' Equity

10,804,196



10,711,734


 

Total Capitalization

20,227,655



19,696,656


 





Total Liabilities and Capitalization

$

32,355,176



$

32,053,173


 

 

The data contained in this report is preliminary and is unaudited.  This report is being submitted for the sole purpose of providing information to shareholders about Eversource Energy and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.

 

EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)



For the Three Months Ended March 31,

(Thousands of Dollars, Except Share Information)

2017


2016





Operating Revenues

$

2,105,135



$

2,055,635






Operating Expenses:




  Purchased Power, Fuel and Transmission

753,649



754,859


  Operations and Maintenance

330,265



320,136


  Depreciation

186,805



173,986


  Amortization of Regulatory Assets, Net

24,017



20,997


  Energy Efficiency Programs

146,158



137,175


  Taxes Other Than Income Taxes

155,222



159,946


     Total Operating Expenses

1,596,116



1,567,099


Operating Income

509,019



488,536


Interest Expense

103,429



98,212


Other Income, Net

13,577



2,011


Income Before Income Tax Expense

419,167



392,335


Income Tax Expense

157,829



146,302


Net Income

261,338



246,033


Net Income Attributable to Noncontrolling Interests

1,880



1,880


Net Income Attributable to Common Shareholders

$

259,458



$

244,153






Basic and Diluted Earnings Per Common Share

$

0.82



$

0.77






Dividends Declared Per Common Share

$

0.48



$

0.45






Weighted Average Common Shares Outstanding:




   Basic

317,463,151



317,517,141


   Diluted

318,124,536



318,481,050



The data contained in this report is preliminary and is unaudited.  This report is being submitted for the sole purpose of providing information to shareholders about Eversource Energy and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.










EVERSOURCE ENERGY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)



For the Three Months Ended March 31,

(Thousands of Dollars)

2017


2016





Operating Activities:




  Net Income

$

261,338



$

246,033


  Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:




     Depreciation

186,805



173,986


     Deferred Income Taxes

141,398



141,132


     Pension, SERP and PBOP Expense, Net

5,828



11,583


     Pension and PBOP Contributions

(45,700

)


(30,383

)

     Regulatory Over/(Under) Recoveries, Net

56,734



(82,772

)

     Amortization of Regulatory Assets, Net

24,017



20,997


     Other

(42,428

)


(16,532

)

  Changes in Current Assets and Liabilities:




     Receivables and Unbilled Revenues, Net

(50,251

)


(133,965

)

     Fuel, Materials, Supplies and Inventory

(33,058

)


(22,748

)

     Taxes Receivable/Accrued, Net

32,313



279,106


     Accounts Payable

(57,701

)


(76,317

)

     Other Current Assets and Liabilities, Net

(42,793

)


(10,156

)

Net Cash Flows Provided by Operating Activities

436,502



499,964






Investing Activities:




  Investments in Property, Plant and Equipment

(523,560

)


(431,472

)

  Proceeds from Sales of Marketable Securities

154,772



136,805


  Purchases of Marketable Securities

(149,688

)


(135,427

)

  Other Investing Activities

(11,281

)


5,494


Net Cash Flows Used in Investing Activities

(529,757

)


(424,600

)





Financing Activities:




  Cash Dividends on Common Shares

(150,521

)


(141,157

)

  Cash Dividends on Preferred Stock

(1,880

)


(1,880

)

  Decrease in Notes Payable

(173,000

)


(391,453

)

  Issuance of Long-Term Debt

600,000



500,000


  Retirements of Long-Term Debt

(150,000

)



  Other Financing Activities

(15,832

)


(13,855

)

Net Cash Flows Provided by/(Used in) Financing Activities

108,767



(48,345

)

Net Increase in Cash and Cash Equivalents

15,512



27,019


Cash and Cash Equivalents - Beginning of Period

30,251



23,947


Cash and Cash Equivalents - End of Period

$

45,763



$

50,966



The data contained in this report is preliminary and is unaudited.  This report is being submitted for the sole purpose of providing information to shareholders about Eversource Energy and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.