XML 91 R56.htm IDEA: XBRL DOCUMENT v3.22.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Provision for Uncollectible Accounts The activity in the allowance for uncollectible accounts by portfolio segment is as follows:
EversourceCL&PNSTAR ElectricPSNH
(Millions of Dollars)Hardship AccountsRetail (Non-Hardship),
Wholesale, and Other		Total AllowanceHardship AccountsRetail (Non-Hardship),
Wholesale, and Other		Total AllowanceHardship AccountsRetail (Non-Hardship),
Wholesale, and Other		Total AllowanceTotal Allowance
Balance as of January 1, 2020$143.3 $81.5 $224.8 $80.1 $17.2 $97.3 $43.9 $31.5 $75.4 $10.5 
ASU 2016-13 Implementation
   Impact on January 1, 2020		21.6 2.2 23.8 21.3 0.9 22.2 (1.6)0.3 (1.3)0.3 
Increase due to CMA acquisition— 24.2 24.2 — — — — — — — 
Uncollectible Expense— 53.5 53.5 — 12.9 12.9 — 15.3 15.3 5.2 
Uncollectible Costs Deferred (1)
43.1 53.9 97.0 38.2 10.8 49.0 (1.7)26.4 24.7 7.4 
Write-Offs(14.7)(63.3)(78.0)(11.9)(17.8)(29.7)(0.9)(26.3)(27.2)(6.9)
Recoveries Collected1.5 12.1 13.6 1.4 4.3 5.7 — 4.7 4.7 0.7 
Balance as of December 31, 2020$194.8 $164.1 $358.9 $129.1 $28.3 $157.4 $39.7 $51.9 $91.6 $17.2 
Uncollectible Expense— 60.9 60.9 — 13.5 13.5 — 16.6 16.6 13.1 
Uncollectible Costs Deferred (1)
51.9 58.7 110.6 32.3 25.5 57.8 4.3 15.8 20.1 3.1 
Write-Offs(22.0)(107.7)(129.7)(18.0)(36.2)(54.2)(0.7)(36.3)(37.0)(10.0)
Recoveries Collected1.4 15.3 16.7 1.2 5.6 6.8 — 5.7 5.7 0.9 
Balance as of December 31, 2021$226.1 $191.3 $417.4 $144.6 $36.7 $181.3 $43.3 $53.7 $97.0 $24.3 
Uncollectible Expense— 61.9 61.9 — 15.6 15.6 — 21.6 21.6 9.2 
Uncollectible Costs Deferred (1)
77.8 34.7 112.5 58.3 1.2 59.5 1.5 10.9 12.4 2.5 
Write-Offs(21.3)(102.7)(124.0)(15.3)(23.0)(38.3)(1.1)(41.2)(42.3)(7.7)
Recoveries Collected1.8 16.7 18.5 1.3 5.9 7.2 — 6.3 6.3 0.9 
Balance as of December 31, 2022$284.4 $201.9 $486.3 $188.9 $36.4 $225.3 $43.7 $51.3 $95.0 $29.2 

(1)    These expected credit losses are deferred as regulatory costs on the balance sheets, as these amounts are ultimately recovered in rates. Amounts include uncollectible costs for hardship accounts and other customer receivables, including uncollectible amounts related to uncollectible energy supply costs and COVID-19. The increase in the allowance for uncollectible hardship accounts in 2022 at Eversource and CL&P primarily relates to increased customer enrollment in disconnection prevention programs in Connecticut.
Schedule of Utility Inventory The carrying amounts of materials and supplies, natural gas inventory, and RECs, which are included in Current Assets on the balance sheets, were as follows:
 As of December 31,
 20222021
(Millions of Dollars)EversourceCL&PNSTAR ElectricPSNHEversourceCL&PNSTAR ElectricPSNH
Materials and Supplies$221.0 $88.2 $81.0 $34.4 $148.9 $60.3 $55.0 $25.2 
Natural Gas 95.9 — — — 56.2 — — — 
RECs57.5 — 57.4 0.1 62.4 — 61.7 0.7 
Total$374.4 $88.2 $138.4 $34.5 $267.5 $60.3 $116.7 $25.9 
Costs Related to Fuel and Natural Gas
The cost of natural gas included in Purchased Power, Purchased Natural Gas and Transmission on the statements of income were as follows:
 For the Years Ended December 31,
(Millions of Dollars)202220212020
Eversource - Cost of Natural Gas$1,010.2 $718.6 $464.2 
Weighted-Average AFUDC Rates
AFUDC costs and the weighted-average AFUDC rates were as follows:
EversourceFor the Years Ended December 31,
(Millions of Dollars, except percentages)202220212020
Borrowed Funds$21.8 $18.4 $23.7 
Equity Funds47.3 37.3 42.0 
Total AFUDC$69.1 $55.7 $65.7 
Average AFUDC Rate4.7 %4.2 %5.0 %
 For the Years Ended December 31,
 202220212020
(Millions of Dollars,
except percentages)		CL&PNSTAR
Electric		PSNHCL&PNSTAR
Electric		PSNHCL&PNSTAR
Electric		PSNH
Borrowed Funds$4.8 $10.7 $1.4 $2.9 $9.0 $0.8 $6.6 $9.1 $2.1 
Equity Funds13.6 24.6 2.5 7.7 20.4 1.6 13.8 21.5 4.2 
Total AFUDC$18.4 $35.3 $3.9 $10.6 $29.4 $2.4 $20.4 $30.6 $6.3 
Average AFUDC Rate6.6 %5.4 %2.6 %5.0 %4.9 %2.5 %5.9 %5.7 %4.7 %
Components of Other Income, Net
The components of Other Income, Net on the statements of income were as follows:
EversourceFor the Years Ended December 31,
(Millions of Dollars)202220212020
Pension, SERP and PBOP Non-Service Income Components,
  Net of Deferred Portion (1)
$219.8 $84.4 $44.4 
AFUDC Equity47.3 37.3 42.0 
Equity in Earnings of Unconsolidated Affiliates (2)
22.9 14.2 14.2 
Investment Income/(Loss)1.9 (0.2)1.1 
Interest Income50.5 25.6 4.8 
Gain on Sale of Property2.6 0.1 1.8 
Other1.1 (0.1)0.3 
Total Other Income, Net$346.1 $161.3 $108.6 
 For the Years Ended December 31,
 202220212020
(Millions of Dollars)CL&PNSTAR
Electric		PSNHCL&PNSTAR
Electric		PSNHCL&PNSTAR
Electric		PSNH
Pension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion (1)
$64.4 $85.5 $26.8 $15.2 $40.2 $10.3 $3.8 $29.3 $7.0 
AFUDC Equity13.6 24.6 2.5 7.7 20.4 1.6 13.8 21.5 4.2 
Investment (Loss)/Income(1.3)1.2 0.2 1.3 0.1 0.1 1.1 (0.8)0.1 
Interest Income6.5 30.7 3.1 5.9 13.4 2.4 2.0 0.9 2.4 
Other0.1 0.7 0.1 0.1 0.7 0.2 0.1 1.1 0.1 
Total Other Income, Net$83.3 $142.7 $32.7 $30.2 $74.8 $14.6 $20.8 $52.0 $13.8 

(1)    See Note 11A, "Employee Benefits – Pension Benefits and Postretirement Benefits Other Than Pension," for the components of net periodic benefit income/expense for the Pension, SERP and PBOP Plans. The non-service related components of pension, SERP and PBOP benefit income/expense, after capitalization or deferral, are presented as non-operating income and recorded in Other Income, Net on the statements of income.
(2)    Equity in earnings of unconsolidated affiliates includes $12.2 million and $2.1 million of pre-tax unrealized gains for the years ended December 31, 2022 and 2021, respectively, and $2.4 million of primarily realized gains for the year ended December 31, 2020, associated with an equity method investment in a renewable energy fund. Equity in earnings of unconsolidated affiliates for the year ended December 31, 2020 includes an other-than-temporary impairment of $2.8 million related to a write-off of an investment within a renewable energy fund. See Note 6, "Investments in Unconsolidated Affiliates," for Eversource’s equity method investments.
Other Taxes These gross receipts taxes are recorded separately with collections in Operating Revenues and with payments in Taxes Other Than Income Taxes on the statements of income as follows:
 For the Years Ended December 31,
(Millions of Dollars)202220212020
Eversource$194.7 $181.9 $170.6 
CL&P166.1 158.1 149.9 
Supplemental Cash Flow Information
Eversource
(Millions of Dollars)
As of and For the Years Ended December 31,
202220212020
Cash Paid During the Year for:   
Interest, Net of Amounts Capitalized$636.2 $568.7 $518.0 
Income Taxes77.9 121.6 48.9 
Non-Cash Investing Activities:
Plant Additions Included in Accounts Payable (As of)586.9 467.9 367.2 
 As of and For the Years Ended December 31,
 202220212020
(Millions of Dollars)CL&PNSTAR
Electric		PSNHCL&PNSTAR
Electric		PSNHCL&PNSTAR
Electric		PSNH
Cash Paid During the Year for:         
Interest, Net of Amounts Capitalized$167.2 $152.8 $58.3 $161.5 $141.6 $56.5 $149.0 $129.4 $54.5 
Income Taxes117.6 23.8 58.3 38.4 74.2 51.1 10.9 110.7 34.2 
Non-Cash Investing Activities:   
Plant Additions Included in Accounts
  Payable (As of)		131.8 184.3 76.2 110.6 120.0 68.7 101.8 103.2 33.3 
Cash and Cash Equivalents as Reported on the Balance Sheet
As of December 31,
 20222021
(Millions of Dollars)EversourceCL&PNSTAR ElectricPSNHEversourceCL&PNSTAR ElectricPSNH
Cash and Cash Equivalents as reported on the
    Balance Sheets		$374.6 $11.3 $327.7 $0.1 $66.8 $55.8 $0.7 $— 
Restricted cash included in:
Special Deposits102.2 8.8 17.5 33.1 78.2 18.7 17.4 31.4 
Marketable Securities25.4 0.2 0.1 0.4 31.3 0.3 0.1 0.5 
Other Long-Term Assets19.6 — — 3.2 44.7 — — 3.2 
Cash, Cash Equivalents and Restricted Cash
    as reported on the Statements of Cash Flows		$521.8 $20.3 $345.3 $36.8 $221.0 $74.8 $18.2 $35.1