Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2014

Allowance for Doubtful Accounts Included in Accounts Receivable Net

The Allowance for Doubtful Accounts as of March 31, 2014, March 31, 2013 and December 31, 2013, which are included in Accounts Receivable, net on the accompanying unaudited consolidated balance sheets, were as follows:

($ millions)
	March 31,				December 31,
	2014		2013		2013
Allowance for Doubtful Accounts	$	2.1	$	2.0	$	1.6

Components of Accrued Revenue

The following table shows the components of Accrued Revenue as of March 31, 2014, March 31, 2013 and December 31, 2013.

	March 31,				December 31,
Accrued Revenue ($ millions)	2014		2013		2013
Regulatory Assets – Current	$	39.7	$	37.0	$	43.6
Unbilled Revenues		9.9		10.4		13.0
Total Accrued Revenue	$	49.6	$	47.4	$	56.6

Components of Exchange Gas Receivable

The following table shows the components of Exchange Gas Receivable as of March 31, 2014, March 31, 2013 and December 31, 2013.

	March 31,				December 31,
Exchange Gas Receivable ($ millions)	2014		2013		2013
Northern Utilities	$	1.0	$	1.5	$	9.8
Fitchburg		0.3		0.2		1.0
Total Exchange Gas Receivable	$	1.3	$	1.7	$	10.8

Components of Gas Inventory

The following table shows the components of Gas Inventory as of March 31, 2014, March 31, 2013 and December 31, 2013.

	March 31,				December 31,
Gas Inventory ($ millions)	2014		2013		2013
Natural Gas	$	0.2	$	—	$	0.8
Propane		0.1		0.3		0.3
Liquefied Natural Gas & Other		0.3		0.2		0.1
Total Gas Inventory	$	0.6	$	0.5	$	1.2

Regulatory Assets

	March 31,				December 31,
Regulatory Assets consist of the following ($ millions)	2014		2013		2013
Energy Supply & Other Regulatory Tracker Mechanisms	$	30.3	$	26.2	$	32.5
Deferred Restructuring Costs		6.9		17.0		9.3
Retirement Benefit		42.3		62.4		42.6
Income Taxes		10.7		10.0		11.9
Environmental		16.0		16.7		16.1
Deferred Storm Charges		24.2		27.7		25.6
Other		5.8		7.0		5.7
Total Regulatory Assets	$	136.2	$	167.0	$	143.7
Less: Current Portion of Regulatory Assets(1)		39.7		37.0		43.6
Regulatory Assets – noncurrent	$	96.5	$	130.0	$	100.1

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

Regulatory Liabilities

	March 31,				December 31,
Regulatory Liabilities consist of the following ($ millions)	2014		2013		2013
Regulatory Tracker Mechanisms	$	13.1	$	11.6	$	9.7
Total Regulatory Liabilities	$	13.1	$	11.6	$	9.7

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	March 31, 2014		March 31, 2013		December 31, 2013
Derivative Assets
Natural Gas Futures/Options Contracts	Prepayments and Other	$	0.2	$	0.5	$	0.1
Natural Gas Futures/Options Contracts	Other Assets		—		—		0.1
Total Derivative Assets		$	0.2	$	0.5	$	0.2
Derivative Liabilities
Natural Gas Futures/Options Contracts	Other Current Liabilities	$	—	$	—	$	—
Natural Gas Futures/Options Contracts	Other Noncurrent Liabilities		—		—		—
Total Derivative Liabilities		$	—	$	—	$	—

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

	Three Months Ended March 31,
($ millions)	2014		2013
Amount of Loss (Gain) Recognized in Regulatory Assets (Liabilities) for Derivatives:
Natural Gas Futures/Options Contracts	$	0.9	$	(0.3	)
Amount of Loss Reclassified into unaudited Consolidated Statements of Earnings(1):
Cost of Gas Sales	$	0.9	$	0.9

⁽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

	March 31,				December 31,
Energy Supply Obligations ($ millions)	2014		2013		2013
Current:
Exchange Gas Obligation	$	1.0	$	1.5	$	9.8
Renewable Energy Portfolio Standards		4.3		4.7		3.7
Power Supply Contract Divestitures		0.8		0.9		0.9
Total Energy Supply Obligations – Current	$	6.1	$	7.1	$	14.4
Long-Term:
Power Supply Contract Divestitures	$	2.3	$	3.1	$	2.5
Total Energy Supply Obligations	$	8.4	$	10.2	$	16.9