LEASES (Tables)

12 Months Ended

Dec. 31, 2022

The components of lease cost, prior to amounts capitalized, are as follows:


Eversource	For the Years Ended December 31,
(Millions of Dollars)	2022		2021		2020
Finance Lease Cost:
Amortization of Right-of-use-Assets	$	8.3	$	4.6	$	2.6
Interest on Lease Liabilities	2.0		3.9		1.4
Total Finance Lease Cost	10.3		8.5		4.0
Operating Lease Cost	11.6		12.2		11.1
Variable Lease Cost	78.1		61.0		57.8
Total Lease Cost	$	100.0	$	81.7	$	72.9


	For the Years Ended December 31,
	2022						2021						2020
(Millions of Dollars)	CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH		CL&P		NSTAR Electric		PSNH
Finance Lease Cost:
Amortization of Right-of-use-Assets	$	—	$	0.2	$	0.1	$	0.5	$	0.2	$	0.1	$	0.7	$	0.2	$	0.1
Interest on Lease Liabilities	—		0.6		—		0.1		0.6		—		0.3		0.6		—
Total Finance Lease Cost	—		0.8		0.1		0.6		0.8		0.1		1.0		0.8		0.1
Operating Lease Cost	0.3		2.3		0.1		0.3		2.3		0.1		0.6		2.1		0.1
Variable Lease Cost	25.6		—		52.5		16.2		—		44.8		12.2		—		45.6
Total Lease Cost	$	25.9	$	3.1	$	52.7	$	17.1	$	3.1	$	45.0	$	13.8	$	2.9	$	45.8

Supplemental balance sheet information related to leases is as follows:


		As of December 31, 2022								As of December 31, 2021
(Millions of Dollars)	Balance Sheet Classification	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Operating Leases:
Right-of-use-Assets, Net	Other Long-Term Assets	$	56.9	$	2.2	$	22.5	$	—	$	47.2	$	0.1	$	24.3	$	0.3
Operating Lease Liabilities
Current Portion	Other Current Liabilities	$	9.0	$	0.6	$	1.2	$	—	$	10.0	$	0.1	$	1.1	$	—
Long-Term	Other Long-Term Liabilities	47.9		1.6		21.3		—		37.2		—		23.2		0.3
Total Operating Lease Liabilities		$	56.9	$	2.2	$	22.5	$	—	$	47.2	$	0.1	$	24.3	$	0.3
Finance Leases:
Right-of-use-Assets, Net	Property, Plant and Equipment, Net	$	54.5	$	—	$	3.2	$	—	$	58.0	$	—	$	3.3	$	0.7
Finance Lease Liabilities
Current Portion	Other Current Liabilities	$	3.8	$	—	$	—	$	—	$	3.9	$	—	$	—	$	0.1
Long-Term	Other Long-Term Liabilities	54.2		—		4.9		—		55.4		—		4.9		0.6
Total Finance Lease Liabilities		$	58.0	$	—	$	4.9	$	—	$	59.3	$	—	$	4.9	$	0.7

Other information related to leases is as follows:


	As of December 31,
	2022								2021
	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Weighted-Average Remaining Lease Term (Years):
Operating Leases	11		4		17		—		13		7		18		7
Finance Leases	15		—		19		—		16		—		20		7
Weighted-Average Discount Rate (Percentage):
Operating Leases	3.2	%	3.8	%	4.0	%	—	%	4.1	%	3.0	%	4.0	%	3.7	%
Finance Leases	2.7	%	—	%	2.9	%	—	%	2.7	%	—	%	2.9	%	3.5	%


(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH
For the Year Ended December 31, 2022
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating Cash Flows from Operating Leases	$	11.3	$	0.3	$	2.1	$	0.1
Operating Cash Flows from Finance Leases	2.0		—		0.6		—
Financing Cash Flows from Finance Leases	3.9		—		—		0.1
Supplemental Non-Cash Information on Lease Liabilities:
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities	18.9		2.4		—		—
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities	3.5		—		—		—


(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH
For the Year Ended December 31, 2021
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating Cash Flows from Operating Leases	$	12.1	$	0.3	$	2.1	$	0.1
Operating Cash Flows from Finance Leases	3.4		0.1		0.6		—
Financing Cash Flows from Finance Leases	4.1		1.4		—		0.1
Supplemental Non-Cash Information on Lease Liabilities:
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities	2.1		—		1.9		—
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities	2.3		—		—		—


(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH
For the Year Ended December 31, 2020
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating Cash Flows from Operating Leases	$	10.9	$	0.6	$	1.8	$	0.1
Operating Cash Flows from Finance Leases	1.7		0.3		0.6		—
Financing Cash Flows from Finance Leases	2.8		1.6		—		0.1
Supplemental Non-Cash Information on Lease Liabilities:
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities	0.6		0.1		0.2		—
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities	0.7		—		0.3		—

Future minimum lease payments, excluding variable costs, under long-term leases, as of December 31, 2022 are as follows:


	Operating Leases						Finance Leases
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		Eversource		NSTAR Electric
Year Ending December 31,
2023	$	10.3	$	0.7	$	2.1	$	5.9	$	0.6
2024	9.3		0.7		2.1		5.9		0.6
2025	6.4		0.7		1.7		5.9		0.6
2026	5.5		0.3		1.7		5.4		0.7
2027	5.2		—		1.7		5.4		0.7
Thereafter	31.2		—		23.6		50.9		11.8
Future lease payments	67.9		2.4		32.9		79.4		15.0
Less amount representing interest	11.0		0.2		10.4		21.4		10.1
Present value of future minimum lease payments	$	56.9	$	2.2	$	22.5	$	58.0	$	4.9

Future minimum lease payments, excluding variable costs, under long-term leases, as of December 31, 2022 are as follows:


	Operating Leases						Finance Leases
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		Eversource		NSTAR Electric
Year Ending December 31,
2023	$	10.3	$	0.7	$	2.1	$	5.9	$	0.6
2024	9.3		0.7		2.1		5.9		0.6
2025	6.4		0.7		1.7		5.9		0.6
2026	5.5		0.3		1.7		5.4		0.7
2027	5.2		—		1.7		5.4		0.7
Thereafter	31.2		—		23.6		50.9		11.8
Future lease payments	67.9		2.4		32.9		79.4		15.0
Less amount representing interest	11.0		0.2		10.4		21.4		10.1
Present value of future minimum lease payments	$	56.9	$	2.2	$	22.5	$	58.0	$	4.9