XML 88 R53.htm IDEA: XBRL DOCUMENT v3.22.4
SCHEDULE I - FINANCIAL INFORMATION OF REGISTRANT
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE I - FINANCIAL INFORMATION OF REGISTRANT
SCHEDULE I
EVERSOURCE ENERGY (PARENT)
FINANCIAL INFORMATION OF REGISTRANT
BALANCE SHEETS
AS OF DECEMBER 31, 2022 AND 2021
(Thousands of Dollars)
 20222021
ASSETS  
Current Assets:  
Cash$971 $175 
Accounts Receivable from Subsidiaries53,338 43,403 
Notes Receivable from Subsidiaries1,074,800 1,245,900 
Prepayments and Other Current Assets23,597 11,974 
Total Current Assets1,152,706 1,301,452 
Deferred Debits and Other Assets: 
Investments in Subsidiary Companies, at Equity18,379,840 16,108,190 
Notes Receivable from Subsidiaries1,896,500 1,001,000 
Accumulated Deferred Income Taxes— 17,409 
Goodwill3,852,524 3,852,524 
Other Long-Term Assets108,867 101,710 
Total Deferred Debits and Other Assets24,237,731 21,080,833 
Total Assets$25,390,437 $22,382,285 
LIABILITIES AND CAPITALIZATION 
Current Liabilities: 
Notes Payable$1,442,200 $1,342,950 
Long-Term Debt - Current Portion1,207,047 767,681 
Accounts Payable to Subsidiaries33,530 37,609 
Other Current Liabilities112,807 87,745 
Total Current Liabilities2,795,584 2,235,985 
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes8,498 — 
Other Long-Term Liabilities140,393 150,616 
Total Deferred Credits and Other Liabilities148,891 150,616 
Long-Term Debt6,972,804 5,395,840 
Common Shareholders' Equity:  
Common Shares1,799,920 1,789,092 
Capital Surplus, Paid in8,401,731 8,098,514 
Retained Earnings5,527,153 5,005,391 
Accumulated Other Comprehensive Loss(39,421)(42,275)
Treasury Stock(216,225)(250,878)
Common Shareholders' Equity15,473,158 14,599,844 
Total Liabilities and Capitalization$25,390,437 $22,382,285 

See the Combined Notes to Financial Statements in this Annual Report on Form 10-K for a description of significant accounting matters related to Eversource parent, including Eversource common shares information as described in Note 18, "Common Shares," material obligations and guarantees as described in Note 13, "Commitments and Contingencies," and debt agreements as described in Note 8, "Short-Term Debt," and Note 9, "Long-Term Debt."
SCHEDULE I
EVERSOURCE ENERGY (PARENT)
FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2022, 2021 AND 2020
(Thousands of Dollars, Except Share Information)
 202220212020
Operating Revenues$— $— $— 
Operating Expenses:   
   Other26,708 43,048 28,645 
Operating Loss(26,708)(43,048)(28,645)
Interest Expense237,773 163,613 160,887 
Other Income, Net:   
   Equity in Earnings of Subsidiaries1,565,474 1,345,199 1,309,630 
   Other, Net79,383 47,802 38,546 
Other Income, Net1,644,857 1,393,001 1,348,176 
Income Before Income Tax Benefit1,380,376 1,186,340 1,158,644 
Income Tax Benefit(24,499)(34,187)(46,523)
Net Income$1,404,875 $1,220,527 $1,205,167 
Basic Earnings per Common Share$4.05 $3.55 $3.56 
Diluted Earnings per Common Share$4.05 $3.54 $3.55 
Weighted Average Common Shares Outstanding:   
   Basic346,783,444 343,972,926 338,836,147 
   Diluted347,246,768 344,631,056 339,847,062 

STATEMENTS OF COMPREHENSIVE INCOME
(Thousands of Dollars)202220212020
Net Income$1,404,875 $1,220,527 $1,205,167 
Other Comprehensive Income/(Loss), Net of Tax:   
   Qualified Cash Flow Hedging Instruments20 972 1,596 
   Changes in Unrealized (Losses)/Gains on Marketable Securities(1,636)(671)342 
   Changes in Funded Status of Pension, SERP and PBOP Benefit Plans4,470 33,835 (13,290)
Other Comprehensive Income/(Loss), Net of Tax2,854 34,136 (11,352)
Comprehensive Income$1,407,729 $1,254,663 $1,193,815 

See the Combined Notes to Financial Statements in this Annual Report on Form 10-K for a description of significant accounting matters related to Eversource parent, including Eversource common shares information as described in Note 18, "Common Shares," material obligations and guarantees as described in Note 13, "Commitments and Contingencies," and debt agreements as described in Note 8, "Short-Term Debt," and Note 9, "Long-Term Debt."
SCHEDULE I
EVERSOURCE ENERGY (PARENT)
FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2022, 2021 and 2020
(Thousands of Dollars)
 202220212020
Operating Activities:   
Net Income$1,404,875 $1,220,527 $1,205,167 
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:  
Equity in Earnings of Subsidiaries(1,565,474)(1,345,199)(1,309,630)
Cash Dividends Received from Subsidiaries855,600 1,037,100 485,800 
Deferred Income Taxes25,823 20,293 (4,667)
Other26,455 36,910 39,940 
Changes in Current Assets and Liabilities:  
Accounts Receivables from Subsidiaries(9,935)(3,758)(14,575)
Taxes Receivable/Accrued, Net(21,627)(19,455)35,300 
Accounts Payable to Subsidiaries(4,079)19,185 14,091 
Other Current Assets and Liabilities, Net35,090 8,144 21,284 
Net Cash Flows Provided by Operating Activities746,728 973,747 472,710 
 
Investing Activities:   
Capital Contributions to Subsidiaries(1,499,300)(1,033,000)(1,899,340)
Return of Capital from Subsidiaries12,000 178,800 80,000 
Increase in Notes Receivable from Subsidiaries(724,400)(140,200)(264,300)
Other Investing Activities(1,289)(3,196)(367)
Net Cash Flows Used in Investing Activities(2,212,989)(997,596)(2,084,007)
Financing Activities:   
Issuance of Common Shares, Net of Issuance Costs197,058 — 928,992 
Cash Dividends on Common Shares(860,033)(805,439)(744,665)
Issuance of Long-Term Debt2,800,000 1,000,000 1,550,000 
Retirement of Long-Term Debt(750,000)(450,000)— 
Increase/(Decrease) in Notes Payable99,250 288,625 (170,545)
Other Financing Activities(19,193)(9,545)46,480 
Net Cash Flows Provided by Financing Activities1,467,082 23,641 1,610,262 
Net Increase/(Decrease) in Cash and Restricted Cash821 (208)(1,035)
Cash and Restricted Cash - Beginning of Year226 434 1,469 
Cash and Restricted Cash - End of Year$1,047 $226 $434 
Supplemental Cash Flow Information:   
Cash Paid/(Received) During the Year for:   
Interest$215,053 $164,568 $140,694 
Income Taxes$(20,992)$(51,277)$(43,158)

See the Combined Notes to Financial Statements in this Annual Report on Form 10-K for a description of significant accounting matters related to Eversource parent, including Eversource common shares information as described in Note 18, "Common Shares," material obligations and guarantees as described in Note 13, "Commitments and Contingencies," and debt agreements as described in Note 8, "Short-Term Debt," and Note 9, "Long-Term Debt."