Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Components of Accrued Revenue

The following table shows the components of Accrued Revenue as of December 31, 2013 and 2012.

Accrued Revenue (millions)	December 31,
	2013		2012
Regulatory Assets—Current	$	43.6	$	51.9
Unbilled Revenues		13.0		11.5
Total Accrued Revenue	$	56.6	$	63.4

Components of Exchange Gas Receivable

The following table shows the components of Exchange Gas Receivable as of December 31, 2013 and 2012.

Exchange Gas Receivable (millions)	December 31,
	2013		2012
Northern Utilities	$	9.8	$	8.7
Fitchburg		1.0		0.7
Total Exchange Gas Receivable	$	10.8	$	9.4

Components of Gas Inventory

The following table shows the components of Gas Inventory as of December 31, 2013 and 2012.

Gas Inventory (millions)	December 31,
	2013		2012
Natural Gas	$	0.8	$	0.6
Propane		0.3		0.4
Liquefied Natural Gas & Other		0.1		0.1
Total Gas Inventory	$	1.2	$	1.1

Regulatory Assets

Regulatory Assets consist of the following (millions)	December 31,
	2013		2012
Energy Supply & Other Regulatory Tracker Mechanisms	$	32.5	$	41.0
Deferred Restructuring Costs		9.3		20.1
Retirement Benefits		42.6		62.5
Income Taxes		11.9		10.2
Environmental		16.1		16.8
Deferred Storm Charges		25.6		27.8
Other		5.7		8.1
Total Regulatory Assets	$	143.7	$	186.5
Less: Current Portion of Regulatory Assets(1)		43.6		51.9
Regulatory Assets—noncurrent	$	100.1	$	134.6

⁽¹⁾  Reflects amounts included in Accrued Revenue on the Company’s Consolidated Balance Sheets.

Regulatory Liabilities

Regulatory Liabilities consist of the following (millions)	December 31,
	2013		2012
Regulatory Tracker Mechanisms	$	9.7	$	6.8
Total Regulatory Liabilities	$	9.7	$	6.8

Fair Value Amount of Derivative Assets Liabilities Offset in Regulatory Liabilities Assets

Fair Value Amount of Derivative Assets / Liabilities (millions) Offset in Regulatory Liabilities / Assets, as of:

		Fair Value
Description	Balance Sheet Location	December 31, 2013		December 31, 2012
Derivative Assets
Natural Gas Futures Contracts	Prepayments and Other	$	0.1	$	—
Natural Gas Futures Contracts	Other Noncurrent Assets		0.1		—
Total Derivative Assets		$	0.2	$	—
Derivative Liabilities
Natural Gas Futures Contracts	Other Current Liabilities	$	—	$	0.7
Natural Gas Futures Contracts	Other Noncurrent Liabilities		—		—
Total Derivative Liabilities		$	—	$	0.7

Regulatory Assets Liabilities and Reclassification from Regulatory Assets Liabilities into Purchased Gas

	Twelve Months Ended December 31,
	2013		2012
Amount of Loss Recognized in Regulatory Assets for Derivatives:
Natural Gas Futures Contracts	$	0.3	$	1.0
Amount of Loss Reclassified into unaudited Consolidated Statements of Earnings(1):
Purchased Gas	$	1.2	$	2.6

⁽¹⁾  These amounts are offset in the unaudited Consolidated Statements of Earnings with Accrued Revenue and therefore there is no effect on earnings.

Components of Energy Supply Obligations

	December 31,
Energy Supply Obligations consist of the following: (millions)	2013		2012
Current:
Exchange Gas Obligation	$	9.8	$	8.7
Renewable Energy Portfolio Standards		3.7		4.2
Power Supply Contract Divestitures		0.9		0.9
Total Energy Supply Obligations—Current	$	14.4	$	13.8
Long-Term:
Power Supply Contract Divestitures	$	2.5	$	3.3
Total Energy Supply Obligations	$	16.9	$	17.1