EVERSOURCE ENERGY, 10-Q filed on 8/6/2019
Quarterly Report
v3.19.2
DOCUMENT AND ENTITY INFORMATION - shares
6 Months Ended
Jun. 30, 2019
Jul. 31, 2019
Document And Entity [Line Items]    
Document Type 10-Q  
Amendment Flag false  
Document Fiscal Period Focus Q2  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2019  
Document Fiscal Year Focus 2019  
Current Fiscal Year End Date --12-31  
Document Transition Report false  
Entity Registrant Name EVERSOURCE ENERGY  
Entity Incorporation, State or Country Code MA  
Entity Central Index Key 0000072741  
Entity Address, Address Line One 300 Cadwell Drive  
Entity Address, City or Town Springfield  
Entity Address, State or Province MA  
Entity Address, Postal Zip Code 01104  
City Area Code 800  
Local Phone Number 286-5000  
Entity File Number 1-5324  
Entity Tax Identification Number 04-2147929  
Title of 12(b) Security Common Shares, $5.00 par value per share  
Trading Symbol ES  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Smaller Reporting Company false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   323,602,045
The Connecticut Light and Power Company    
Document And Entity [Line Items]    
Current Fiscal Year End Date --12-31  
Entity Registrant Name THE CONNECTICUT LIGHT AND POWER COMPANY  
Entity Incorporation, State or Country Code CT  
Entity Central Index Key 0000023426  
Entity Address, Address Line One 107 Selden Street  
Entity Address, City or Town Berlin  
Entity Address, State or Province CT  
Entity Address, Postal Zip Code 06037-1616  
City Area Code 800  
Local Phone Number 286-5000  
Entity File Number 0-00404  
Entity Tax Identification Number 06-0303850  
Entity Filer Category Non-accelerated Filer  
Entity Smaller Reporting Company false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   6,035,205
NSTAR Electric Company    
Document And Entity [Line Items]    
Current Fiscal Year End Date --12-31  
Entity Registrant Name NSTAR ELECTRIC COMPANY  
Entity Incorporation, State or Country Code MA  
Entity Central Index Key 0000013372  
Entity Address, Address Line One 800 Boylston Street  
Entity Address, City or Town Boston  
Entity Address, State or Province MA  
Entity Address, Postal Zip Code 02199  
City Area Code 800  
Local Phone Number 286-5000  
Entity File Number 1-02301  
Entity Tax Identification Number 04-1278810  
Entity Filer Category Non-accelerated Filer  
Entity Smaller Reporting Company false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   200
Public Service Company of New Hampshire    
Document And Entity [Line Items]    
Current Fiscal Year End Date --12-31  
Entity Registrant Name PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE  
Entity Incorporation, State or Country Code NH  
Entity Central Index Key 0000315256  
Entity Address, Address Line One Energy Park  
Entity Address, Address Line Two 780 North Commercial Street  
Entity Address, City or Town Manchester  
Entity Address, State or Province NH  
Entity Address, Postal Zip Code 03101-1134  
City Area Code 800  
Local Phone Number 286-5000  
Entity File Number 1-6392  
Entity Tax Identification Number 02-0181050  
Entity Filer Category Non-accelerated Filer  
Entity Smaller Reporting Company false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   301
v3.19.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash $ 20,578 $ 108,068
Receivables, Net 964,314 994,055
Unbilled Revenues 154,920 176,285
Fuel, Materials, Supplies and Inventory 174,124 238,042
Regulatory Assets 515,265 514,779
Prepayments and Other Current Assets 302,496 260,995
Total Current Assets 2,131,697 2,292,224
Property, Plant and Equipment, Net 26,304,446 25,610,428
Deferred Debits and Other Assets:    
Regulatory Assets 4,404,176 4,631,137
Goodwill 4,427,266 4,427,266
Investments in Unconsolidated Affiliates 748,705 464,286
Marketable Securities 401,231 417,508
Other Long-Term Assets 578,385 398,407
Total Deferred Debits and Other Assets 10,559,763 10,338,604
Total Assets 38,995,906 38,241,256
Current Liabilities:    
Notes Payable 729,000 910,000
Long-Term Debt – Current Portion 779,289 837,319
Rate Reduction Bonds – Current Portion 43,210 52,332
Accounts Payable 903,431 1,119,995
Regulatory Liabilities 379,850 370,230
Other Current Liabilities 677,341 823,006
Total Current Liabilities 3,512,121 4,112,882
Deferred Credits and Other Liabilities:    
Accumulated Deferred Income Taxes 3,549,922 3,506,030
Regulatory Liabilities 3,639,792 3,609,475
Derivative Liabilities 363,848 379,562
Accrued Pension, SERP and PBOP 955,092 962,510
Other Long-Term Liabilities 1,264,061 1,196,336
Total Deferred Credits and Other Liabilities 9,772,715 9,653,913
Long-Term Debt 13,039,180 12,248,743
Rate Reduction Bonds 561,727 583,331
Noncontrolling Interest – Preferred Stock of Subsidiaries 155,570 155,570
Common Shareholders' Equity:    
Common Shares 1,699,292 1,669,392
Capital Surplus, Paid In 6,659,009 6,241,222
Retained Earnings 3,954,492 3,953,974
Accumulated Other Comprehensive Loss (53,641) (60,000)
Treasury Stock (304,559) (317,771)
Common Shareholders' Equity 11,954,593 11,486,817
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization 38,995,906 38,241,256
The Connecticut Light and Power Company    
Current Assets:    
Cash 2,191 87,721
Receivables, Net 415,542 397,026
Accounts Receivable from Affiliated Companies 33,519 23,082
Unbilled Revenues 53,670 56,971
Fuel, Materials, Supplies and Inventory 55,243 44,529
Regulatory Assets 175,706 125,155
Prepayments and Other Current Assets 23,390 60,279
Total Current Assets 759,261 794,763
Property, Plant and Equipment, Net 9,285,633 8,909,701
Deferred Debits and Other Assets:    
Regulatory Assets 1,432,827 1,505,488
Other Long-Term Assets 221,860 199,767
Total Deferred Debits and Other Assets 1,654,687 1,705,255
Total Assets 11,699,581 11,409,719
Current Liabilities:    
Notes Payable to Eversource Parent 259,400 0
Long-Term Debt – Current Portion 0 250,000
Accounts Payable 287,984 324,983
Accounts Payable to Affiliated Companies 76,792 26,452
Obligations to Third Party Suppliers 52,100 56,248
Regulatory Liabilities 112,414 109,614
Derivative Liabilities 62,075 55,058
Other Current Liabilities 147,764 161,088
Total Current Liabilities 998,529 983,443
Deferred Credits and Other Liabilities:    
Accumulated Deferred Income Taxes 1,192,646 1,166,784
Regulatory Liabilities 1,153,360 1,122,157
Derivative Liabilities 363,717 379,536
Accrued Pension, SERP and PBOP 275,358 282,771
Other Long-Term Liabilities 153,878 155,495
Total Deferred Credits and Other Liabilities 3,138,959 3,106,743
Long-Term Debt 3,309,455 3,004,016
Noncontrolling Interest – Preferred Stock of Subsidiaries 116,200 116,200
Common Shareholders' Equity:    
Common Shares 60,352 60,352
Capital Surplus, Paid In 2,410,765 2,410,765
Retained Earnings 1,664,995 1,727,899
Accumulated Other Comprehensive Loss 326 301
Common Shareholders' Equity 4,136,438 4,199,317
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization 11,699,581 11,409,719
NSTAR Electric Company    
Current Assets:    
Cash 177 1,606
Receivables, Net 346,428 361,296
Accounts Receivable from Affiliated Companies 25,071 31,344
Unbilled Revenues 42,144 34,518
Fuel, Materials, Supplies and Inventory 64,513 114,202
Regulatory Assets 210,032 241,747
Prepayments and Other Current Assets 21,289 51,960
Total Current Assets 709,654 836,673
Property, Plant and Equipment, Net 9,075,789 8,794,700
Deferred Debits and Other Assets:    
Regulatory Assets 1,178,974 1,196,512
Prepaid PBOP 146,717 132,810
Other Long-Term Assets 142,573 109,764
Total Deferred Debits and Other Assets 1,468,264 1,439,086
Total Assets 11,253,707 11,070,459
Current Liabilities:    
Notes Payable 163,000 278,500
Notes Payable to Eversource Parent 40,300 0
Long-Term Debt – Current Portion 95,000 0
Accounts Payable 288,153 384,398
Accounts Payable to Affiliated Companies 72,174 89,636
Obligations to Third Party Suppliers 95,360 109,547
Renewable Portfolio Standards Compliance Obligations 66,370 139,898
Regulatory Liabilities 170,970 190,620
Other Current Liabilities 61,710 74,872
Total Current Liabilities 1,053,037 1,267,471
Deferred Credits and Other Liabilities:    
Accumulated Deferred Income Taxes 1,318,267 1,294,467
Regulatory Liabilities 1,514,845 1,513,279
Accrued Pension, SERP and PBOP 29,323 14,145
Other Long-Term Liabilities 297,346 263,096
Total Deferred Credits and Other Liabilities 3,159,781 3,084,987
Long-Term Debt 3,246,535 2,944,846
Noncontrolling Interest – Preferred Stock of Subsidiaries 43,000 43,000
Common Shareholders' Equity:    
Common Shares 0 0
Capital Surplus, Paid In 1,653,442 1,633,442
Retained Earnings 2,099,059 2,098,091
Accumulated Other Comprehensive Loss (1,147) (1,378)
Common Shareholders' Equity 3,751,354 3,730,155
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization 11,253,707 11,070,459
Public Service Company of New Hampshire    
Current Assets:    
Cash 343 1,439
Receivables, Net 99,416 104,854
Accounts Receivable from Affiliated Companies 11,476 8,444
Unbilled Revenues 39,665 47,145
Taxes Receivable 6,985 25,913
Fuel, Materials, Supplies and Inventory 23,280 37,504
Regulatory Assets 77,854 67,228
Special Deposits 35,017 47,498
Prepayments and Other Current Assets 17,293 17,564
Total Current Assets 311,329 357,589
Property, Plant and Equipment, Net 2,969,347 2,880,073
Deferred Debits and Other Assets:    
Regulatory Assets 827,898 862,288
Other Long-Term Assets 32,428 27,406
Total Deferred Debits and Other Assets 860,326 889,694
Total Assets 4,141,002 4,127,356
Current Liabilities:    
Notes Payable to Eversource Parent 20,100 57,000
Long-Term Debt – Current Portion 150,000 150,000
Rate Reduction Bonds – Current Portion 43,210 52,332
Accounts Payable 103,749 111,292
Accounts Payable to Affiliated Companies 27,195 26,029
Regulatory Liabilities 54,183 55,526
Other Current Liabilities 45,414 64,046
Total Current Liabilities 443,851 516,225
Deferred Credits and Other Liabilities:    
Accumulated Deferred Income Taxes 496,223 481,221
Regulatory Liabilities 416,999 428,069
Accrued Pension, SERP and PBOP 107,007 124,457
Other Long-Term Liabilities 33,584 36,339
Total Deferred Credits and Other Liabilities 1,053,813 1,070,086
Long-Term Debt 951,834 655,173
Rate Reduction Bonds 561,727 583,331
Common Shareholders' Equity:    
Common Shares 0 0
Capital Surplus, Paid In 678,134 678,134
Retained Earnings 453,891 627,258
Accumulated Other Comprehensive Loss (2,248) (2,851)
Common Shareholders' Equity 1,129,777 1,302,541
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization $ 4,141,002 $ 4,127,356
v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating Revenues $ 1,884,495 $ 1,853,856 $ 4,300,287 $ 4,141,818
Operating Expenses:        
Purchased Power, Fuel and Transmission 620,904 653,915 1,595,786 1,600,662
Operations and Maintenance 328,010 293,858 663,606 626,406
Depreciation 219,084 199,140 434,032 403,406
Amortization 38,945 36,203 109,906 81,397
Energy Efficiency Programs 105,837 101,955 245,953 236,196
Taxes Other Than Income Taxes 181,083 177,431 365,672 359,865
Impairment of Northern Pass Transmission 239,644 0 239,644 0
Total Operating Expenses 1,733,507 1,462,502 3,654,599 3,307,932
Operating Income/(Loss) 150,988 391,354 645,688 833,886
Interest Expense 132,705 126,404 264,438 247,533
Other Income, Net 45,866 50,149 76,850 83,938
Income Before Income Tax Expense 64,149 315,099 458,100 670,291
Income Tax Expense 30,815 70,452 114,209 154,219
Net Income 33,334 244,647 343,891 516,072
Net Income Attributable to Noncontrolling Interests 1,880 1,880 3,759 3,759
Net Income Attributable to Common Shareholders $ 31,454 $ 242,767 $ 340,132 $ 512,313
Basic and Diluted Earnings Per Common Share (in dollars per share) $ 0.10 $ 0.76 $ 1.07 $ 1.61
Weighted Average Common Shares Outstanding:        
Basic (in shares) 319,664,998 317,344,596 318,644,796 317,370,825
Diluted (in shares) 320,388,490 317,885,187 319,352,287 317,939,094
The Connecticut Light and Power Company        
Operating Revenues $ 740,846 $ 694,892 $ 1,590,092 $ 1,479,875
Operating Expenses:        
Purchased Power, Fuel and Transmission 246,540 234,335 566,373 536,223
Operations and Maintenance 133,351 109,685 263,989 226,977
Depreciation 74,555 69,383 147,844 136,881
Amortization of Regulatory Assets, Net 12,376 15,400 48,047 43,405
Energy Efficiency Programs 20,780 18,606 46,768 41,366
Taxes Other Than Income Taxes 86,465 84,375 178,463 174,676
Total Operating Expenses 574,067 531,784 1,251,484 1,159,528
Operating Income/(Loss) 166,779 163,108 338,608 320,347
Interest Expense 36,972 38,674 72,754 75,498
Other Income, Net 2,853 7,063 6,733 13,623
Income Before Income Tax Expense 132,660 131,497 272,587 258,472
Income Tax Expense 27,856 31,785 57,312 60,192
Net Income 104,804 99,712 215,275 198,280
NSTAR Electric Company        
Operating Revenues 681,893 690,737 1,479,505 1,460,865
Operating Expenses:        
Purchased Power, Fuel and Transmission 228,397 266,108 558,501 598,687
Operations and Maintenance 108,924 102,163 221,887 220,844
Depreciation 73,055 64,051 145,639 134,593
Amortization of Regulatory Assets, Net 23,184 11,954 45,768 18,318
Energy Efficiency Programs 65,904 65,184 142,633 139,978
Taxes Other Than Income Taxes 48,226 47,627 93,047 95,815
Total Operating Expenses 547,690 557,087 1,207,475 1,208,235
Operating Income/(Loss) 134,203 133,650 272,030 252,630
Interest Expense 28,238 27,359 56,120 53,822
Other Income, Net 10,657 14,269 21,743 26,870
Income Before Income Tax Expense 116,622 120,560 237,653 225,678
Income Tax Expense 26,888 32,639 53,906 60,607
Net Income 89,734 87,921 183,747 165,071
Public Service Company of New Hampshire        
Operating Revenues 240,900 235,146 517,335 502,497
Operating Expenses:        
Purchased Power, Fuel and Transmission 85,768 83,494 199,299 193,212
Operations and Maintenance 52,729 46,487 105,359 97,867
Depreciation 23,261 22,808 46,180 46,301
Amortization of Regulatory Assets, Net 5,857 8,926 19,523 13,961
Energy Efficiency Programs 6,215 4,674 12,929 9,831
Taxes Other Than Income Taxes 20,725 21,879 38,037 38,680
Total Operating Expenses 194,555 188,268 421,327 399,852
Operating Income/(Loss) 46,345 46,878 96,008 102,645
Interest Expense 13,909 14,612 28,276 27,386
Other Income, Net 2,984 3,409 10,006 8,159
Income Before Income Tax Expense 35,420 35,675 77,738 83,418
Income Tax Expense 8,568 9,896 18,104 22,547
Net Income $ 26,852 $ 25,779 $ 59,634 $ 60,871
v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Net Income $ 33,334 $ 244,647 $ 343,891 $ 516,072
Other Comprehensive Income, Net of Tax:        
Qualified Cash Flow Hedging Instruments 262   578  
Qualified Cash Flow Hedging Instruments   471   1,195
Changes in Unrealized Gains/(Losses) on Marketable Securities 444 (144) 1,099 (588)
Changes in Funded Status of Pension, SERP and PBOP Benefit Plans 3,457 1,815 4,682 4,808
Other Comprehensive Income, Net of Tax 4,163 2,142 6,359 5,415
Comprehensive Income Attributable to Noncontrolling Interests (1,880) (1,880) (3,759) (3,759)
Comprehensive Income Attributable to Common Shareholders 35,617 244,909 346,491 517,728
The Connecticut Light and Power Company        
Net Income 104,804 99,712 215,275 198,280
Other Comprehensive Income, Net of Tax:        
Qualified Cash Flow Hedging Instruments (7)   (13)  
Qualified Cash Flow Hedging Instruments   13   65
Changes in Unrealized Gains/(Losses) on Marketable Securities 15 (4) 38 (16)
Other Comprehensive Income, Net of Tax 8 9 25 49
Comprehensive Income Attributable to Common Shareholders 104,812 99,721 215,300 198,329
NSTAR Electric Company        
Net Income 89,734 87,921 183,747 165,071
Other Comprehensive Income, Net of Tax:        
Qualified Cash Flow Hedging Instruments 109   219  
Qualified Cash Flow Hedging Instruments   109   218
Changes in Unrealized Gains/(Losses) on Marketable Securities 4 (1) 10 (5)
Changes in Funded Status of Pension, SERP and PBOP Benefit Plans 1 1 2 2
Other Comprehensive Income, Net of Tax 114 109 231 215
Comprehensive Income Attributable to Common Shareholders 89,848 88,030 183,978 165,286
Public Service Company of New Hampshire        
Net Income 26,852 25,779 59,634 60,871
Other Comprehensive Income, Net of Tax:        
Qualified Cash Flow Hedging Instruments 269   538  
Qualified Cash Flow Hedging Instruments   277   567
Changes in Unrealized Gains/(Losses) on Marketable Securities 27 (8) 65 (29)
Other Comprehensive Income, Net of Tax 296 269 603 538
Comprehensive Income Attributable to Common Shareholders $ 27,148 $ 26,048 $ 60,237 $ 61,409
v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Shares
Capital Surplus, Paid In
Retained Earnings
Accumulated Other Comprehensive Loss
Treasury Stock
The Connecticut Light and Power Company
The Connecticut Light and Power Company
Common Shares
The Connecticut Light and Power Company
Capital Surplus, Paid In
The Connecticut Light and Power Company
Retained Earnings
The Connecticut Light and Power Company
Accumulated Other Comprehensive Loss
NSTAR Electric Company
NSTAR Electric Company
Common Shares
NSTAR Electric Company
Capital Surplus, Paid In
NSTAR Electric Company
Retained Earnings
NSTAR Electric Company
Accumulated Other Comprehensive Loss
Public Service Company of New Hampshire
Public Service Company of New Hampshire
Common Shares
Public Service Company of New Hampshire
Capital Surplus, Paid In
Public Service Company of New Hampshire
Retained Earnings
Public Service Company of New Hampshire
Accumulated Other Comprehensive Loss
Balance (in shares) at Dec. 31, 2017   316,885,808           6,035,205         200         301      
Balance at Dec. 31, 2017 $ 11,086,242 $ 1,669,392 $ 6,239,940 $ 3,561,084 $ (66,403) $ (317,771) $ 3,587,127 $ 60,352 $ 2,110,765 $ 1,415,741 $ 269 $ 3,446,080 $ 0 $ 1,502,942 $ 1,944,961 $ (1,823) $ 1,350,594 $ 0 $ 843,134 $ 511,382 $ (3,922)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Net Income 271,426     271,426     98,568     98,568   77,149     77,149   35,093     35,093  
Dividends on Common Shares (160,027)     (160,027)     (60,000)     (60,000)   (161,000)     (161,000)            
Dividends on Preferred Stock (1,880)     (1,880)     (1,390)     (1,390)   (490)     (490)            
Long-Term Incentive Plan Activity (15,320)   (15,320)                                    
Capital Contributions from Eversource Parent             9,000   9,000     92,500   92,500              
Other                       1     1            
Other Comprehensive Income 3,273       3,273   40       40 106       106 269       269
Balance (in shares) at Mar. 31, 2018   316,885,808           6,035,205         200         301      
Balance at Mar. 31, 2018 11,183,714 $ 1,669,392 6,224,620 3,670,603 (63,130) (317,771) 3,633,345 $ 60,352 2,119,765 1,452,919 309 3,454,346 $ 0 1,595,442 1,860,621 (1,717) 1,385,956 $ 0 843,134 546,475 (3,653)
Balance (in shares) at Dec. 31, 2017   316,885,808           6,035,205         200         301      
Balance at Dec. 31, 2017 11,086,242 $ 1,669,392 6,239,940 3,561,084 (66,403) (317,771) 3,587,127 $ 60,352 2,110,765 1,415,741 269 3,446,080 $ 0 1,502,942 1,944,961 (1,823) 1,350,594 $ 0 843,134 511,382 (3,922)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Net Income 516,072           198,280         165,071         60,871        
Dividends on Preferred Stock (3,800)                                        
Other Comprehensive Income 5,415           49         215         538        
Balance (in shares) at Jun. 30, 2018   316,885,808           6,035,205         200         301      
Balance at Jun. 30, 2018 11,273,223 $ 1,669,392 6,229,247 3,753,343 (60,988) (317,771) 3,822,676 $ 60,352 2,210,765 1,551,241 318 3,549,886 $ 0 1,603,442 1,948,052 (1,608) 1,107,003 $ 0 538,134 572,253 (3,384)
Balance (in shares) at Mar. 31, 2018   316,885,808           6,035,205         200         301      
Balance at Mar. 31, 2018 11,183,714 $ 1,669,392 6,224,620 3,670,603 (63,130) (317,771) 3,633,345 $ 60,352 2,119,765 1,452,919 309 3,454,346 $ 0 1,595,442 1,860,621 (1,717) 1,385,956 $ 0 843,134 546,475 (3,653)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Net Income 244,647     244,647     99,712     99,712   87,921     87,921   25,779     25,779  
Dividends on Common Shares (160,027)     (160,027)                                  
Dividends on Preferred Stock (1,880)     (1,880)     (1,390)     (1,390)   (490)     (490)            
Long-Term Incentive Plan Activity 4,627   4,627                                    
Capital Contributions from Eversource Parent             91,000   91,000     8,000   8,000     225,000   225,000    
Return of Capital                                 (530,000)   (530,000)    
Other                                 (1)     (1)  
Other Comprehensive Income 2,142       2,142   9       9 109       109 269       269
Balance (in shares) at Jun. 30, 2018   316,885,808           6,035,205         200         301      
Balance at Jun. 30, 2018 $ 11,273,223 $ 1,669,392 6,229,247 3,753,343 (60,988) (317,771) 3,822,676 $ 60,352 2,210,765 1,551,241 318 3,549,886 $ 0 1,603,442 1,948,052 (1,608) 1,107,003 $ 0 538,134 572,253 (3,384)
Balance (in shares) at Dec. 31, 2018 316,885,808 316,885,808           6,035,205         200         301      
Balance at Dec. 31, 2018 $ 11,486,817 $ 1,669,392 6,241,222 3,953,974 (60,000) (317,771) 4,199,317 $ 60,352 2,410,765 1,727,899 301 3,730,155 $ 0 1,633,442 2,098,091 (1,378) 1,302,541 $ 0 678,134 627,258 (2,851)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Net Income 310,558     310,558     110,471     110,471   94,014     94,014   32,781     32,781  
Dividends on Common Shares (169,757)     (169,757)     (99,000)     (99,000)   (60,600)     (60,600)   (19,000)     (19,000)  
Dividends on Preferred Stock (1,880)     (1,880)     (1,390)     (1,390)   (490)     (490)            
Long-Term Incentive Plan Activity (16,609)   (16,609)                                    
Issuance of Treasury Shares (in shares)   461,662                                      
Issuance of Treasury Shares 26,109   17,476     8,633                              
Capital Contributions from Eversource Parent                       20,000   20,000              
Other Comprehensive Income 2,196       2,196   17       17 117       117 307       307
Balance (in shares) at Mar. 31, 2019   317,347,470           6,035,205         200         301      
Balance at Mar. 31, 2019 $ 11,637,434 $ 1,669,392 6,242,089 4,092,895 (57,804) (309,138) 4,209,415 $ 60,352 2,410,765 1,737,980 318 3,783,196 $ 0 1,653,442 2,131,015 (1,261) 1,316,629 $ 0 678,134 641,039 (2,544)
Balance (in shares) at Dec. 31, 2018 316,885,808 316,885,808           6,035,205         200         301      
Balance at Dec. 31, 2018 $ 11,486,817 $ 1,669,392 6,241,222 3,953,974 (60,000) (317,771) 4,199,317 $ 60,352 2,410,765 1,727,899 301 3,730,155 $ 0 1,633,442 2,098,091 (1,378) 1,302,541 $ 0 678,134 627,258 (2,851)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Net Income 343,891           215,275         183,747         59,634        
Dividends on Preferred Stock (3,800)                                        
Other Comprehensive Income $ 6,359           25         231         603        
Balance (in shares) at Jun. 30, 2019 323,574,439 323,574,439           6,035,205         200         301      
Balance at Jun. 30, 2019 $ 11,954,593 $ 1,699,292 6,659,009 3,954,492 (53,641) (304,559) 4,136,438 $ 60,352 2,410,765 1,664,995 326 3,751,354 $ 0 1,653,442 2,099,059 (1,147) 1,129,777 $ 0 678,134 453,891 (2,248)
Balance (in shares) at Mar. 31, 2019   317,347,470           6,035,205         200         301      
Balance at Mar. 31, 2019 11,637,434 $ 1,669,392 6,242,089 4,092,895 (57,804) (309,138) 4,209,415 $ 60,352 2,410,765 1,737,980 318 3,783,196 $ 0 1,653,442 2,131,015 (1,261) 1,316,629 $ 0 678,134 641,039 (2,544)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Net Income 33,334     33,334     104,804     104,804   89,734     89,734   26,852     26,852  
Dividends on Common Shares (169,857)     (169,857)     (176,400)     (176,400)   (121,200)     (121,200)   (214,000)     (214,000)  
Dividends on Preferred Stock (1,880)     (1,880)     (1,390)     (1,390)   (490)     (490)            
Issuance of Common Shares (in shares)   5,980,000                                      
Issuance of Common Shares 433,550 $ 29,900 403,650                                    
Long-Term Incentive Plan Activity 6,470   6,470                                    
Issuance of Treasury Shares (in shares)   246,969                                      
Issuance of Treasury Shares 18,027   13,448     4,579                              
Capital Stock Expense (6,648)   (6,648)                                    
Other             1     1                      
Other Comprehensive Income $ 4,163       4,163   8       8 114       114 296       296
Balance (in shares) at Jun. 30, 2019 323,574,439 323,574,439           6,035,205         200         301      
Balance at Jun. 30, 2019 $ 11,954,593 $ 1,699,292 $ 6,659,009 $ 3,954,492 $ (53,641) $ (304,559) $ 4,136,438 $ 60,352 $ 2,410,765 $ 1,664,995 $ 326 $ 3,751,354 $ 0 $ 1,653,442 $ 2,099,059 $ (1,147) $ 1,129,777 $ 0 $ 678,134 $ 453,891 $ (2,248)
v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares
3 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]        
Dividends on Common Shares (in dollars per share) $ 0.535 $ 0.535 $ 0.505 $ 0.505
Issuance of Common Shares, par value (in dollars per share) $ 5      
v3.19.2
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities:    
Net Income $ 343,891 $ 516,072
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:    
Depreciation 434,032 403,406
Deferred Income Taxes 36,535 161,883
Uncollectible Expense 31,546 29,250
Pension, SERP and PBOP Expense, Net 13,227 3,317
Pension and PBOP Contributions (6,648) (179,002)
Regulatory (Under)/Over Recoveries, Net 23,830 36,669
Amortization 109,906 81,397
Proceeds from DOE Spent Nuclear Fuel Litigation 68,840 0
Impairment of Northern Pass Transmission 239,644 0
Other (137,428) (103,256)
Changes in Current Assets and Liabilities:    
Receivables and Unbilled Revenues, Net 6,357 (52,923)
Fuel, Materials, Supplies and Inventory 63,918 65,609
Taxes Receivable/Accrued, Net (6,883) (132,999)
Accounts Payable (156,077) (80,059)
Other Current Assets and Liabilities, Net (140,103) (51,229)
Net Cash Flows Provided by Operating Activities 924,587 698,135
Investing Activities:    
Investments in Property, Plant and Equipment (1,377,753) (1,251,678)
Proceeds from Sales of Marketable Securities 348,904 316,252
Purchases of Marketable Securities (302,950) (314,406)
Proceeds from the Sale of PSNH Generation Assets 0 116,809
Investments in Unconsolidated Affiliates (265,955) (13,220)
Other Investing Activities 4,055 (902)
Net Cash Flows Used in Investing Activities (1,593,699) (1,147,145)
Financing Activities:    
Issuance of Common Shares, Net of Issuance Costs 426,902 0
Cash Dividends on Common Shares (323,346) (320,055)
Cash Dividends on Preferred Stock (3,759) (3,759)
(Decrease)/Increase in Notes Payable (181,000) (98,500)
Issuance of Rate Reduction Bonds 0 635,663
Repayment of Rate Reduction Bonds (30,727) 0
Issuance of Long-Term Debt 1,000,000 1,150,000
Retirement of Long-Term Debt (250,437) (860,421)
Other Financing Activities (10,682) (17,958)
Net Cash Flows Provided by Financing Activities 626,951 484,970
Net (Decrease)/Increase in Cash and Restricted Cash (42,161) 35,960
Cash and Restricted Cash - Beginning of Period 209,324 85,890
Cash and Restricted Cash - End of Period 167,163 121,850
The Connecticut Light and Power Company    
Operating Activities:    
Net Income 215,275 198,280
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:    
Depreciation 147,844 136,881
Deferred Income Taxes 16,513 50,915
Uncollectible Expense 7,627 7,747
Pension, SERP and PBOP Expense, Net 6,926 3,861
Pension Contributions 0 (41,150)
Regulatory (Under)/Over Recoveries, Net (40,460) (39,908)
Amortization of Regulatory Assets, Net 48,047 43,405
Other (40,290) (40,825)
Changes in Current Assets and Liabilities:    
Receivables and Unbilled Revenues, Net (37,101) (34,772)
Taxes Receivable/Accrued, Net 19,701 105
Accounts Payable 5,443 (30,805)
Other Current Assets and Liabilities, Net (3,941) 14,377
Net Cash Flows Provided by Operating Activities 345,584 268,111
Investing Activities:    
Investments in Property, Plant and Equipment (466,112) (457,677)
Other Investing Activities 551 110
Net Cash Flows Used in Investing Activities (465,561) (457,567)
Financing Activities:    
Cash Dividends on Common Shares (275,400) (60,000)
Cash Dividends on Preferred Stock (2,779) (2,779)
Capital Contributions from Eversource Parent 0 100,000
Issuance of Long-Term Debt 300,000 500,000
Retirement of Long-Term Debt (250,000) (300,000)
Increase/(Decrease) in Notes Payable to Eversource Parent 259,400 (45,500)
Other Financing Activities 4,237 (6,189)
Net Cash Flows Provided by Financing Activities 35,458 185,532
Net (Decrease)/Increase in Cash and Restricted Cash (84,519) (3,924)
Cash and Restricted Cash - Beginning of Period 91,613 9,619
Cash and Restricted Cash - End of Period 7,094 5,695
NSTAR Electric Company    
Operating Activities:    
Net Income 183,747 165,071
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:    
Depreciation 145,639 134,593
Deferred Income Taxes 11,603 29,238
Uncollectible Expense 11,605 11,301
Pension, SERP and PBOP Income, Net (7,052) (19,785)
Pension and PBOP Contributions (3,007) (59,156)
Regulatory (Under)/Over Recoveries, Net 17,063 34,090
Amortization of Regulatory Assets, Net 45,768 18,318
Other (36,973) (14,646)
Changes in Current Assets and Liabilities:    
Receivables and Unbilled Revenues, Net (6,769) (40,073)
Fuel, Materials, Supplies and Inventory 49,688 45,058
Taxes Receivable/Accrued, Net 25,572 (37,268)
Accounts Payable (82,326) (17,194)
Other Current Assets and Liabilities, Net (103,054) (46,861)
Net Cash Flows Provided by Operating Activities 251,504 202,686
Investing Activities:    
Investments in Property, Plant and Equipment (418,571) (356,497)
Other Investing Activities 41 31
Net Cash Flows Used in Investing Activities (418,530) (356,466)
Financing Activities:    
Cash Dividends on Common Shares (181,800) (161,000)
Cash Dividends on Preferred Stock (980) (980)
Capital Contributions from Eversource Parent 20,000 100,500
Increase in Notes Payable to Eversource Parent 40,300 0
(Decrease)/Increase in Notes Payable (115,500) 213,810
Issuance of Long-Term Debt 400,000 0
Other Financing Activities (3,287) (158)
Net Cash Flows Provided by Financing Activities 158,733 152,172
Net (Decrease)/Increase in Cash and Restricted Cash (8,293) (1,608)
Cash and Restricted Cash - Beginning of Period 14,659 14,708
Cash and Restricted Cash - End of Period 6,366 13,100
Public Service Company of New Hampshire    
Operating Activities:    
Net Income 59,634 60,871
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:    
Depreciation 46,180 46,301
Deferred Income Taxes 12,030 41,981
Uncollectible Expense 3,100 3,200
Regulatory (Under)/Over Recoveries, Net (29,377) (29,816)
Amortization of Regulatory Assets, Net 19,523 13,961
Other (7,381) (3,428)
Changes in Current Assets and Liabilities:    
Receivables and Unbilled Revenues, Net 7,658 (10,510)
Fuel, Materials, Supplies and Inventory 14,225 21,803
Taxes Receivable/Accrued, Net 18,029 (15,475)
Accounts Payable (1,159) (4,843)
Other Current Assets and Liabilities, Net (17,620) (8,050)
Net Cash Flows Provided by Operating Activities 121,742 112,795
Investing Activities:    
Investments in Property, Plant and Equipment (132,791) (149,925)
Proceeds from the Sale of PSNH Generation Assets 0 116,809
Other Investing Activities 743 243
Net Cash Flows Used in Investing Activities (132,048) (32,873)
Financing Activities:    
Cash Dividends on Common Shares (233,000) (150,000)
Capital Contributions from Eversource Parent 0 225,000
Return of Capital 0 (530,000)
Issuance of Rate Reduction Bonds 0 635,663
Repayment of Rate Reduction Bonds (30,727) 0
Issuance of Long-Term Debt 300,000 0
Retirement of Long-Term Debt 0 (110,000)
Increase/(Decrease) in Notes Payable to Eversource Parent (36,900) (144,200)
Other Financing Activities (2,703) (75)
Net Cash Flows Provided by Financing Activities (3,330) (73,612)
Net (Decrease)/Increase in Cash and Restricted Cash (13,636) 6,310
Cash and Restricted Cash - Beginning of Period 52,723 2,191
Cash and Restricted Cash - End of Period $ 39,087 $ 8,501
v3.19.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.    Basis of Presentation
Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas and NSTAR Gas (natural gas utilities) and Aquarion (water utilities).  Eversource provides energy delivery and/or water service to approximately four million electric, natural gas and water customers through eight regulated utilities in Connecticut, Massachusetts and New Hampshire.

The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries.  Intercompany transactions have been eliminated in consolidation.  The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."

The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC.  Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations.  The accompanying financial statements should be read in conjunction with the Combined Notes to Financial Statements included in Item 8, "Financial Statements and Supplementary Data," of the Eversource 2018 Form 10-K, which was filed with the SEC on February 26, 2019. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of June 30, 2019 and December 31, 2018, and the results of operations, comprehensive income and common shareholders' equity for the three and six months ended June 30, 2019 and 2018, and the cash flows for the six months ended June 30, 2019 and 2018. The results of operations and comprehensive income for the three and six months ended June 30, 2019 and 2018 and the cash flows for the six months ended June 30, 2019 and 2018 are not necessarily indicative of the results expected for a full year.  

Eversource consolidates CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent.  Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements.

Eversource's utility subsidiaries' electric, natural gas and water distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information.

Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation.

B.    Accounting Standards
Accounting Standards Issued but Not Yet Effective: In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses (Topic 326), which provides a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. Under the new guidance, immediate recognition of all credit losses expected over the life of a financial instrument is required. The new standard also revises the other-than-temporary impairment model for available-for-sale debt securities. The standard is effective January 1, 2020, and requires a modified retrospective transition approach through a cumulative-effect adjustment to retained earnings. The Company is assessing the impacts of this standard on the accounting for credit losses on its financial instruments, including accounts receivable.

Accounting Standards Recently Adopted: On January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842), which amended existing lease accounting guidance. The Company applied the Topic 842 lease criteria to new leases and lease renewals entered into effective on or after January 1, 2019.  The ASU required balance sheet recognition of leases deemed to be operating leases as well as additional disclosure requirements.  The recognition, measurement and presentation of expenses and cash flows were not significantly changed.

The Company also adopted the modified retrospective transition method allowed in ASU 2018-11, Leases (Topic 842) - Targeted Improvements, which allowed the Company to adopt the new leases standard as of January 1, 2019, with prior periods presented in the financial statements continuing to follow existing lease accounting guidance under Topic 840 (Leases) in the accounting literature.  Implementation of ASU 2018-11 had no effect on retained earnings, and the requirements of the new lease standard (Topic 842) are reflected in the 2019 financial statements and footnotes.

The Company elected the practical expedient package whereby it did not need to reassess whether or not an existing contract is or contains a lease or whether a lease is an operating or capital lease, and it did not need to reassess initial direct costs for leases. Election of this practical expedient allowed us to carry forward our historical lease classifications. The Company elected the practical expedient to not reevaluate land easements existing at adoption if they were not previously accounted for as leases. The Company also elected to use the discount rate as of the January 1, 2019 implementation date to discount its operating lease liabilities. The Company did not elect the hindsight practical expedient to determine the lease term for existing leases.

The Company determined the impact the ASUs had on its financial statements by reviewing its lease population and identifying lease data needed for the disclosure requirements. The Company implemented a new lease accounting system in 2019 to ensure ongoing compliance with the ASU’s requirements. Adoption of the new standard resulted in the recording of operating lease liabilities and right-of-use assets on the balance sheet upon transition at January 1, 2019 of $58.0 million at Eversource, $25.3 million at NSTAR Electric, $0.6 million at CL&P, and $0.6 million at PSNH. Implementation of the new guidance did not have an impact on each company’s results of operations or cash flows.

C.    Impairment of Northern Pass Transmission
Northern Pass is Eversource's planned 1,090 MW HVDC transmission line that would interconnect from the Québec-New Hampshire border to Franklin, New Hampshire and an associated alternating current radial transmission line between Franklin and Deerfield, New Hampshire. 

On March 30, 2018, the New Hampshire Site Evaluation Committee (“NHSEC”), one of the state regulatory agencies from which Northern Pass was required to obtain a siting permit, issued a written decision denying Northern Pass’ siting application. In the first quarter of 2018, Eversource conducted an impairment review of the Northern Pass project and concluded, at that time, that the recorded amount of project costs was recoverable. On July 12, 2018, the NHSEC issued a written decision denying Northern Pass’ April 2018 motion for rehearing, and on October 12, 2018, the New Hampshire Supreme Court accepted an appeal filed by Northern Pass that alleged that the NHSEC failed to follow applicable law in its review of the project. On July 19, 2019, the New Hampshire Supreme Court issued a decision denying Northern Pass’ appeal and affirming the NHSEC’s evaluation and decision that denied Northern Pass’ siting application.

Eversource evaluated the impact of the New Hampshire Supreme Court decision on the probability of construction and operation of Northern Pass. Eversource concluded that construction of the project was no longer probable and that substantially all of the capitalized project costs, which totaled $318 million, certain of which are subject to cost reimbursement agreements, were impaired. Eversource concluded that the New Hampshire Supreme Court decision is a subsequent event that required recognition in the financial statements as of and for the three and six months ended June 30, 2019.

Based on the conclusion that the construction of Northern Pass was not probable, Eversource recorded an impairment charge for all of the project costs associated with Northern Pass, which were primarily engineering design, siting, permitting and legal costs, along with appropriate allowances for funds used during construction, and recognized a receivable for certain cost reimbursement agreements. Additionally, Eversource recorded an impairment charge associated with the land acquired to construct Northern Pass in order to recognize the land at its estimated fair value based on assessed values and transaction costs. In total, this resulted in a pre-tax impairment charge of $239.6 million within Operating Income on the statement of income for the three and six months ended June 30, 2019, and was reflected in the Electric Transmission segment. The after-tax impact of the impairment charge was $204.4 million, or $0.64 per share, after giving effect to the estimated fair value of the related land, reimbursement agreements, and the impact of expected income tax benefits associated with the impairment charge. Eversource does not expect any significant estimated future cash expenditures associated with this impairment charge.

D.    Provision for Uncollectible Accounts
Eversource, including CL&P, NSTAR Electric and PSNH, presents its receivables at estimated net realizable value by maintaining a provision for uncollectible accounts.  This provision is determined based upon a variety of judgments and factors, including the application of an estimated uncollectible percentage to each receivable aging category.  The estimate is based upon historical collection and write-off experience and management's assessment of collectability from customers.  Management continuously assesses the collectability of receivables and adjusts collectability estimates based on actual experience.  Receivable balances are written off against the provision for uncollectible accounts when the customer accounts are terminated and these balances are deemed to be uncollectible.

The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 180 days and 90 days, respectively.  The DPU allows NSTAR Electric and NSTAR Gas to recover in rates amounts associated with certain uncollectible hardship accounts receivable. These uncollectible hardship customer account balances are included in Regulatory Assets or Other Long-Term Assets on the balance sheets.

The total provision for uncollectible accounts is included in Receivables, Net on the balance sheets. The provision for uncollectible hardship accounts is included in the total uncollectible provision balance. The provision balances are as follows:
 
Total Provision for Uncollectible Accounts
 
Provision for Uncollectible Hardship Accounts
(Millions of Dollars)
As of June 30, 2019
 
As of December 31, 2018
 
As of June 30, 2019
 
As of December 31, 2018
Eversource
$
226.4

 
$
212.7

 
$
137.9

 
$
131.5

CL&P
88.7

 
88.0

 
70.9

 
71.9

NSTAR Electric
81.8

 
74.5

 
47.7

 
42.5

PSNH
11.2

 
11.1

 

 



Uncollectible expense associated with customers' accounts receivable included in Operations and Maintenance expense on the statements of income is as follows:
 
For the Three Months Ended
 
For the Six Months Ended
(Millions of Dollars)
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Eversource
$
13.0

 
$
9.5

 
$
31.5

 
$
29.3

CL&P
3.5

 
3.8

 
7.6

 
7.7

NSTAR Electric
5.7

 
3.8

 
11.6

 
11.3

PSNH
1.4

 
1.5

 
3.1

 
3.2



E.    Fair Value Measurements
Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases" or "normal sales" ("normal") and to the marketable securities held in trusts.  Fair value measurement guidance is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans, the nonrecurring fair value measurements of nonfinancial assets such as goodwill and AROs, and the estimated fair value of preferred stock, long-term debt and RRBs.

Fair Value Hierarchy:  In measuring fair value, Eversource uses observable market data when available in order to minimize the use of unobservable inputs.  Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes.  The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement.  Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis, and Eversource's policy is to recognize transfers between levels of the fair value hierarchy as of the end of the reporting period.  The three levels of the fair value hierarchy are described below:

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date.  Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.  

Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable.

Level 3 - Quoted market prices are not available.  Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable.  Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products.  

Uncategorized - Investments that are measured at net asset value are not categorized within the fair value hierarchy.

Determination of Fair Value:  The valuation techniques and inputs used in Eversource's fair value measurements are described in Note 4, "Derivative Instruments," Note 5, "Marketable Securities," and Note 11, "Fair Value of Financial Instruments," to the financial statements.

F.    Investments in Unconsolidated Affiliates
Investments in Offshore Wind Business: Eversource's offshore wind business includes ownership interests in North East Offshore and Bay State Wind, which collectively hold power purchase agreements for the Revolution Wind and South Fork Wind projects and are in process of negotiating a power purchase agreement for the Sunrise Wind project. Eversource's offshore wind projects are being developed in partnership with Ørsted.

On February 8, 2019, Eversource and Ørsted entered into a 50-50 partnership for key offshore wind assets in the Northeast. Eversource's initial payment and contribution under the terms of the partnership agreements totaled approximately $225 million for a 50 percent interest in North East Offshore, which holds the Revolution Wind and South Fork Wind power projects, as well as a 257 square-mile lease off the coasts of Massachusetts and Rhode Island. Eversource also has a 50 percent ownership in Bay State Wind, which holds the Sunrise Wind power project. These equity investments are included in long-term assets on the balance sheet and earnings impacts are included in Other Income, Net on the statement of income. As of June 30, 2019, Eversource's total equity investment balance in its offshore wind business was $499.5 million. In July 2019, Eversource made an additional capital contribution of $54.9 million.

G.    Other Income, Net
The components of Other Income, Net on the statements of income were as follows:
 
For the Three Months Ended
 
June 30, 2019
 
June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Pension, SERP and PBOP Non-Service
   Income/(Expense) Components
$
5.8

 
$
(0.9
)
 
$
5.4

 
$
1.5

 
$
14.6

 
$
2.4

 
$
9.5

 
$
2.1

AFUDC Equity
13.1

 
3.2

 
5.1

 
0.9

 
10.9

 
3.3

 
3.9

 

Equity in Earnings (1)
25.9

 
0.1

 
0.2

 

 
22.9

 

 
0.4

 

Investment Income/(Loss)
(0.6
)
 
(0.1
)
 
(0.3
)
 
(0.1
)
 
(0.3
)
 
0.4

 
0.3

 

Interest Income
1.3

 
0.5

 
0.2

 
0.7

 
1.9

 
1.0

 
0.2

 
1.3

Other
0.4

 
0.1

 
0.1

 

 
0.1

 

 

 

Total Other Income, Net
$
45.9

 
$
2.9

 
$
10.7

 
$
3.0

 
$
50.1

 
$
7.1

 
$
14.3

 
$
3.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended
 
June 30, 2019
 
June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Pension, SERP and PBOP Non-Service
   Income/(Expense) Components
$
13.1

 
$
(1.6
)
 
$
12.4

 
$
2.0

 
$
29.8

 
$
5.3

 
$
17.9

 
$
4.4

AFUDC Equity
24.1

 
5.8

 
9.1

 
1.1

 
20.6

 
6.1

 
7.3

 

Equity in Earnings (1)
30.9

 
0.1

 
0.4

 

 
27.5

 

 
0.4

 

Investment Income/(Loss)
0.6

 
1.7

 
(0.6
)
 
0.2

 
0.4

 
0.2

 
0.9

 
0.1

Interest Income (2)
7.8

 
0.8

 
0.4

 
6.6

 
5.4

 
2.0

 
0.4

 
3.7

Other
0.4

 
(0.1
)
 

 
0.1

 
0.2

 

 

 

Total Other Income, Net
$
76.9

 
$
6.7

 
$
21.7

 
$
10.0

 
$
83.9

 
$
13.6

 
$
26.9

 
$
8.2


(1) Equity in earnings includes $20.4 million of unrealized gains associated with an investment in a renewable energy fund for both the three and six months ended June 30, 2019. For both the three and six months ended June 30, 2018, unrealized gains on this investment totaled $17.6 million.

(2) See Note 2, "Regulatory Accounting" for interest income recognized in 2019 for the equity return component of carrying charges on storm costs at PSNH.

H.    Other Taxes
Eversource's companies that serve customers in Connecticut collect gross receipts taxes levied by the state of Connecticut from their customers. 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 Three Months Ended
 
For the Six Months Ended
(Millions of Dollars)
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Eversource
$
36.4

 
$
35.6

 
$
81.4

 
$
79.0

CL&P
31.8

 
31.5

 
68.0

 
67.1



As agents for state and local governments, Eversource's companies that serve customers in Connecticut and Massachusetts collect certain sales taxes that are recorded on a net basis with no impact on the statements of income.   

Separate from above are amounts recorded as Taxes Other than Income Taxes related to the future remittance to the State of Connecticut of energy efficiency funds collected from customers in Operating Revenues. These amounts are $10.7 million and $21.4 million for the three and six months ended June 30, 2019, respectively, and $12.7 million and $25.4 million for the three and six months ended June 30, 2018, respectively. These amounts are recorded separately, with collections in Operating Revenues and with payments in Taxes Other than Income Taxes on the Eversource and CL&P statements of income.  

I.    Supplemental Cash Flow Information
Non-cash investing activities include plant additions included in Accounts Payable as follows:
(Millions of Dollars)
As of June 30, 2019
 
As of June 30, 2018
Eversource
$
323.7

 
$
305.7

CL&P
114.0

 
110.9

NSTAR Electric
85.2

 
71.1

PSNH
29.9

 
46.6



Beginning in 2019, Eversource began issuing treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment plan, and matching contributions under the Eversource 401k Plan. The issuance of treasury shares represents a non-cash transaction, as the treasury shares were used to fulfill Eversource's obligations that require the issuance of common shares.

The following table reconciles cash as reported on the balance sheets to the cash and restricted cash balance as reported on the statements of cash flows:
 
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Cash as reported on the Balance Sheets
$
20.6

 
$
2.2

 
$
0.2

 
$
0.3

 
$
108.1

 
$
87.7

 
$
1.6

 
$
1.4

Restricted cash included in:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Prepayments and Other Current Assets
54.1

 
4.6

 
6.1

 
35.0

 
72.1

 
3.5

 
13.0

 
47.5

Marketable Securities
20.5

 
0.3

 
0.1

 
0.6

 
25.9

 
0.4

 
0.1

 
0.6

Other Long-Term Assets
72.0

 

 

 
3.2

 
3.2

 

 

 
3.2

Cash and Restricted Cash reported on the
   Statements of Cash Flows
$
167.2

 
$
7.1

 
$
6.4

 
$
39.1

 
$
209.3

 
$
91.6

 
$
14.7

 
$
52.7



Restricted cash included in Prepayments and Other Current Assets primarily represents cash collections related to the PSNH RRB customer charges that are held in trust, and required ISO-NE cash deposits. Restricted cash included in Marketable Securities represents money market funds held in trusts to fund certain non-qualified executive benefits and restricted trusts to fund CYAPC and YAEC's spent nuclear fuel storage facilities obligations. Restricted cash included in Other Long-Term Assets at Eversource primarily relates to DOE Phase IV damages proceeds received at CYAPC and YAEC in the second quarter of 2019. See Note 9D, "Commitments and Contingencies - Spent Nuclear Fuel Obligations - Yankee Companies," for further information.
v3.19.2
REGULATORY ACCOUNTING
6 Months Ended
Jun. 30, 2019
Regulated Operations [Abstract]  
REGULATORY ACCOUNTING REGULATORY ACCOUNTING

Eversource's utility companies are subject to rate regulation that is based on cost recovery and meets the criteria for application of accounting guidance for rate-regulated operations, which considers the effect of regulation on the timing of the recognition of certain revenues and expenses. The regulated companies' financial statements reflect the effects of the rate-making process.  The rates charged to the customers of Eversource's regulated companies are designed to collect each company's costs to provide service, including a return on investment.  

Management believes it is probable that each of the regulated companies will recover its respective investments in long-lived assets, including regulatory assets.  If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises to any of the regulated companies' operations, or if management could not conclude it is probable that costs would be recovered from customers in future rates, the costs would be charged to net income in the period in which the determination is made.

Regulatory Assets:  The components of regulatory assets were as follows:
 
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
Benefit Costs
$
1,870.5

 
$
407.4

 
$
554.8

 
$
151.1

 
$
1,914.8

 
$
424.7

 
$
544.4

 
$
169.6

Income Taxes, Net
702.6

 
456.5

 
104.1

 
10.1

 
728.6

 
454.4

 
105.9

 
8.3

Securitized Stranded Costs
586.9

 

 

 
586.9

 
608.4

 

 

 
608.4

Storm Restoration Costs, Net
536.7

 
279.6

 
191.2

 
65.9

 
576.0

 
302.6

 
212.9

 
60.5

Regulatory Tracker Mechanisms
289.0

 
60.3

 
138.2

 
70.6

 
316.0

 
33.2

 
169.1

 
67.3

Derivative Liabilities
347.9

 
345.4

 

 

 
356.5

 
356.5

 

 

Goodwill-related
340.0

 

 
291.9

 

 
348.4

 

 
299.1

 

Asset Retirement Obligations
97.1

 
33.3

 
48.3

 
3.5

 
89.2

 
32.3

 
42.2

 
3.3

Other Regulatory Assets
148.8

 
26.0

 
60.5

 
17.7

 
208.0

 
27.0

 
64.6

 
12.1

Total Regulatory Assets
4,919.5

 
1,608.5


1,389.0


905.8


5,145.9

 
1,630.7


1,438.2


929.5

Less:  Current Portion
515.3

 
175.7

 
210.0

 
77.9

 
514.8

 
125.2

 
241.7

 
67.2

Total Long-Term Regulatory Assets
$
4,404.2

 
$
1,432.8


$
1,179.0


$
827.9


$
4,631.1

 
$
1,505.5


$
1,196.5


$
862.3



Storm Filings: On November 16, 2018, CL&P filed for recovery of $153 million of storm costs incurred from October 2017 through May 2018, with recovery over six years to begin May 1, 2019.  Through the course of the proceeding, CL&P updated its request to $145.5 million to reflect final invoicing and capitalization amounts. On April 17, 2019, PURA authorized recovery of $141.0 million as part of storm cost recovery and the remainder to be recorded to plant or other balance sheet accounts. All approved amounts will be fully recoverable through specific mechanisms or through future rate cases.

On March 26, 2019, the NHPUC approved the recovery of $38.1 million, plus carrying charges, of storm costs incurred from December 2013 through April 2016 and the transfer of funding from PSNH’s major storm reserve to recover those costs. The costs of these storms (excluding the equity return component of the carrying charges) were deferred as regulatory assets, and the funding reserve collected from customers was accrued as a regulatory liability. As a result of the duration of time between incurring storm costs in December 2013 through April 2016 and final approval from the NHPUC in 2019, PSNH recognized $5.2 million (pre-tax) for the equity return component of the carrying charges within Other Income, Net on the statement of income in the first quarter of 2019, which has been collected from customers. Also included in the March 26, 2019 NHPUC approval is a prospective requirement for PSNH to annually net its storm funding reserve collected from customers against deferred storm costs.

In addition, on June 27, 2019, the NHPUC approved a temporary rate settlement that permits PSNH to recover approximately $68.5 million in unrecovered storm costs over a five-year period beginning August 1, 2019, with debt carrying charges.

Regulatory Costs in Long-Term Assets:  Eversource's regulated companies had $142.0 million (including $43.6 million for CL&P, $61.4 million for NSTAR Electric and $15.3 million for PSNH) and $122.9 million (including $42.1 million for CL&P, $49.3 million for NSTAR Electric and $12.2 million for PSNH) of additional regulatory costs as of June 30, 2019 and December 31, 2018, respectively, that were included in long-term assets on the balance sheets.  These amounts represent incurred costs for which recovery has not yet been specifically approved by the applicable regulatory agency.  However, based on regulatory policies or past precedent on similar costs, management believes it is probable that these costs will ultimately be approved and recovered from customers in rates.

Regulatory Liabilities:  The components of regulatory liabilities were as follows:
 
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
EDIT due to Tax Cuts and Jobs Act
$
2,860.7

 
$
1,028.7

 
$
1,090.0

 
$
395.4

 
$
2,883.0

 
$
1,031.0

 
$
1,103.7

 
$
396.4

Cost of Removal
544.9

 
51.0

 
319.4

 
21.4

 
521.0

 
39.9

 
307.1

 
22.1

Benefit Costs
83.8

 

 
70.9

 

 
91.2

 

 
76.9

 

Regulatory Tracker Mechanisms
333.3

 
110.0

 
141.9

 
31.2

 
309.0

 
89.5

 
163.7

 
48.3

AFUDC - Transmission
71.7

 
46.7

 
25.0

 

 
70.7

 
47.4

 
23.3

 

Revenue Subject to Refund due to Tax Cuts
  and Jobs Act
29.2

 

 

 
19.1

 
24.6

 

 

 
12.6

Other Regulatory Liabilities
96.1

 
29.4

 
38.6

 
4.1

 
80.2

 
24.0

 
29.2

 
4.2

Total Regulatory Liabilities
4,019.7

 
1,265.8


1,685.8


471.2


3,979.7

 
1,231.8


1,703.9


483.6

Less:  Current Portion
379.9

 
112.4

 
171.0

 
54.2

 
370.2

 
109.6

 
190.6

 
55.5

Total Long-Term Regulatory Liabilities
$
3,639.8

 
$
1,153.4


$
1,514.8


$
417.0


$
3,609.5

 
$
1,122.2


$
1,513.3


$
428.1


v3.19.2
PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION
6 Months Ended
Jun. 30, 2019
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION

The following tables summarize property, plant and equipment by asset category:
Eversource
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
 
Distribution - Electric
$
15,472.1

 
$
15,071.1

Distribution - Natural Gas
3,632.9

 
3,546.2

Transmission - Electric
10,449.5

 
10,153.9

Distribution - Water
1,664.1

 
1,639.8

Solar
196.9

 
164.1

Utility
31,415.5

 
30,575.1

Other (1)
882.4

 
778.6

Property, Plant and Equipment, Gross
32,297.9

 
31,353.7

Less:  Accumulated Depreciation
 
 
 
Utility   
(7,357.9
)
 
(7,126.2
)
Other
(363.1
)
 
(336.7
)
Total Accumulated Depreciation
(7,721.0
)
 
(7,462.9
)
Property, Plant and Equipment, Net
24,576.9

 
23,890.8

Construction Work in Progress
1,727.5

 
1,719.6

Total Property, Plant and Equipment, Net
$
26,304.4

 
$
25,610.4


 
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
CL&P
 
NSTAR
Electric
 
PSNH
 
CL&P
 
NSTAR
Electric
 
PSNH
Distribution - Electric
$
6,352.8

 
$
6,921.3

 
$
2,238.3

 
$
6,176.4

 
$
6,756.4

 
$
2,178.6

Transmission - Electric
4,880.6

 
4,148.8

 
1,415.2

 
4,700.5

 
4,065.9

 
1,338.7

Solar

 
196.9

 

 

 
164.1

 

Property, Plant and Equipment, Gross
11,233.4

 
11,267.0

 
3,653.5

 
10,876.9

 
10,986.4

 
3,517.3

Less:  Accumulated Depreciation
(2,352.2
)
 
(2,814.9
)
 
(806.4
)
 
(2,302.6
)
 
(2,702.0
)
 
(772.9
)
Property, Plant and Equipment, Net
8,881.2

 
8,452.1

 
2,847.1

 
8,574.3

 
8,284.4

 
2,744.4

Construction Work in Progress
404.4

 
623.7

 
122.2

 
335.4

 
510.3

 
135.7

Total Property, Plant and Equipment, Net
$
9,285.6

 
$
9,075.8

 
$
2,969.3

 
$
8,909.7

 
$
8,794.7

 
$
2,880.1



(1) 
These assets are primarily comprised of building improvements, computer software, hardware and equipment at Eversource Service.

In the second quarter of 2019, Eversource recorded an impairment charge for the NPT project costs, which had been recorded within Construction Work in Progress and also the Transmission - Electric asset category. For further information regarding the impairment of NPT, see Note 1C, "Summary of Significant Accounting Policies - Impairment of Northern Pass Transmission," to the financial statements.
v3.19.2
DERIVATIVE INSTRUMENTS
6 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS DERIVATIVE INSTRUMENTS

The electric and natural gas companies purchase and procure energy and energy-related products, which are subject to price volatility, for their customers.  The costs associated with supplying energy to customers are recoverable from customers in future rates.  These regulated companies manage the risks associated with the price volatility of energy and energy-related products through the use of derivative and non-derivative contracts.  

Many of the derivative contracts meet the definition of, and are designated as, normal and qualify for accrual accounting under the applicable accounting guidance.  The costs and benefits of derivative contracts that meet the definition of normal are recognized in Operating Expenses on the statements of income, as applicable, as electricity or natural gas is delivered.

Derivative contracts that are not designated as normal are recorded at fair value as current or long-term Derivative Assets or Derivative Liabilities on the balance sheets.  For the electric and natural gas companies, regulatory assets or regulatory liabilities are recorded to offset the fair values of derivatives, as contract settlement amounts are recovered from, or refunded to, customers in their respective energy supply rates.  

The gross fair values of derivative assets and liabilities with the same counterparty are offset and reported as net Derivative Assets or Derivative Liabilities, with current and long-term portions, on the balance sheets.  The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:
 
 
 
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
Fair Value Hierarchy
 
Commodity Supply and Price Risk
Management
 
Netting (1)
 
Net Amount
Recorded as a Derivative
 
Commodity Supply and Price Risk
Management
 
Netting (1)
 
Net Amount
Recorded as
a Derivative
Current Derivative Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
CL&P
Level 3
 
$
11.1

 
$
(0.3
)
 
$
10.8

 
$
9.6

 
$
(3.4
)
 
$
6.2

Other
Level 2
 

 

 

 
1.5

 
(0.9
)
 
0.6

Long-Term Derivative Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
CL&P
Level 3
 
71.8

 
(2.2
)
 
69.6

 
74.2

 
(2.3
)
 
71.9

Current Derivative Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
CL&P
Level 3
 
(62.1
)
 

 
(62.1
)
 
(55.1
)
 

 
(55.1
)
Other
Level 2
 
(2.4
)
 

 
(2.4
)
 

 

 

Long-Term Derivative Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
CL&P
Level 3
 
(363.7
)
 

 
(363.7
)
 
(379.5
)
 

 
(379.5
)
Other
Level 2
 
(0.1
)
 

 
(0.1
)
 

 

 


(1) 
Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets.  These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.

For further information on the fair value of derivative contracts, see Note 1E, "Summary of Significant Accounting Policies - Fair Value Measurements," to the financial statements.

Derivative Contracts at Fair Value with Offsetting Regulatory Amounts
Commodity Supply and Price Risk Management:  As required by regulation, CL&P, along with UI, has capacity-related contracts with generation facilities.  CL&P has a sharing agreement with UI, with 80 percent of the costs or benefits of each contract borne by or allocated to CL&P and 20 percent borne by or allocated to UI.  The combined capacities of these contracts as of June 30, 2019 and December 31, 2018 are 679 MW and 787 MW, respectively.  The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the capacity market price received in the ISO-NE capacity markets.  In addition, CL&P has a contract to purchase 0.1 million MWh of energy per year through 2020.   

As of June 30, 2019 and December 31, 2018, Eversource had New York Mercantile Exchange ("NYMEX") financial contracts for natural gas futures in order to reduce variability associated with the price of 7.1 million and 12.5 million MMBtu of natural gas, respectively.

For the three months ended June 30, 2019 and 2018, there were losses of $5.1 million and gains of $8.6 million, respectively, deferred as regulatory costs, which reflect the change in fair value associated with Eversource's derivative contracts. For the six months ended June 30, 2019 and 2018, there were losses of $10.3 million and $27.5 million, respectively.

Fair Value Measurements of Derivative Instruments
Derivative contracts classified as Level 2 in the fair value hierarchy relate to the financial contracts for natural gas futures.  Prices are obtained from broker quotes and are based on actual market activity.  The contracts are valued using NYMEX natural gas prices.  Valuations of these contracts also incorporate discount rates using the yield curve approach.
 
The fair value of derivative contracts classified as Level 3 utilizes significant unobservable inputs.  The fair value is modeled using income techniques, such as discounted cash flow valuations adjusted for assumptions related to exit price.  Significant observable inputs for valuations of these contracts include energy and energy-related product prices in future years for which quoted prices in an active market exist.  Fair value measurements categorized in Level 3 of the fair value hierarchy are prepared by individuals with expertise in valuation techniques, pricing of energy and energy-related products, and accounting requirements.  The future power and capacity prices for periods that are not quoted in an active market or established at auction are based on available market data and are escalated based on estimates of inflation in order to address the full term of the contract.  

Valuations of derivative contracts using a discounted cash flow methodology include assumptions regarding the timing and likelihood of scheduled payments and also reflect non-performance risk, including credit, using the default probability approach based on the counterparty's credit rating for assets and the Company's credit rating for liabilities.  Valuations incorporate estimates of premiums or discounts that would be required by a market participant to arrive at an exit price, using historical market transactions adjusted for the terms of the contract.  

The following is a summary of Level 3 derivative contracts and the range of the significant unobservable inputs utilized in the valuations over the duration of the contracts:
 
As of June 30, 2019
 
As of December 31, 2018
CL&P
Range
 
Period Covered
 
Range
 
Period Covered
Capacity Prices
$
4.30

 
 
7.34

 
per kW-Month
 
2023 - 2026
 
$
4.30

 
 
7.44

 
per kW-Month
 
2022 - 2026
Forward Reserve
0.75

 
 
1.78

 
per kW-Month
 
2019 - 2024
 
0.75

 
 
1.78

 
per kW-Month
 
2019 - 2024


Exit price premiums of 3.1 percent through 14.6 percent are also applied to these contracts and reflect the uncertainty and illiquidity premiums that would be required based on the most recent market activity available for similar type contracts.

Significant increases or decreases in future capacity or forward reserve prices in isolation would decrease or increase, respectively, the fair value of the derivative liability.  Any increases in risk premiums would increase the fair value of the derivative liability.  Changes in these fair values are recorded as a regulatory asset or liability and do not impact net income.  

Valuations using significant unobservable inputs:  The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis.  The derivative assets and liabilities are presented on a net basis.
CL&P
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
(Millions of Dollars)
2019
 
2018
 
2019
 
2018
Derivatives, Net:
 
 
 
 
 
 
 
Fair Value as of Beginning of Period
$
(353.1
)
 
$
(386.5
)
 
$
(356.5
)
 
$
(362.3
)
Net Realized/Unrealized (Losses)/Gains Included
  in Regulatory Assets
(2.5
)
 
8.6

 
(7.8
)
 
(28.2
)
Settlements
10.2

 
8.6

 
18.9

 
21.2

Fair Value as of End of Period
$
(345.4
)
 
$
(369.3
)
 
$
(345.4
)
 
$
(369.3
)

v3.19.2
MARKETABLE SECURITIES
6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES MARKETABLE SECURITIES

Eversource holds marketable securities that are primarily used to fund certain non-qualified executive benefits.  The trusts that hold marketable securities are not subject to regulatory oversight by state or federal agencies.  CYAPC and YAEC maintain legally restricted trusts, each of which holds marketable securities, to fund the spent nuclear fuel removal obligations of their nuclear fuel storage facilities.

Equity Securities: Unrealized gains and losses on equity securities held in Eversource's non-qualified executive benefit trust are recorded in Other Income, Net on the statements of income. The fair value of these equity securities as of June 30, 2019 and December 31, 2018 was $45.2 million and $44.0 million, respectively.  For the three months ended June 30, 2019 and 2018, there were unrealized gains of $2.3 million and $0.9 million, respectively, recorded in Other Income, Net related to these equity securities. For the six months ended June 30, 2019 and 2018, there were unrealized gains of $3.3 million and $0.2 million, respectively.

Eversource's equity securities also include CYAPC's and YAEC's marketable securities held in spent nuclear fuel trusts, which had fair values of $158.5 million and $200.0 million as of June 30, 2019 and December 31, 2018, respectively.  Unrealized gains and losses for these spent nuclear fuel trusts are subject to regulatory accounting treatment and are recorded in Marketable Securities with the corresponding offset to Other Long-Term Liabilities on the balance sheets, with no impact on the statements of income.

Available-for-Sale Debt Securities: The following is a summary of the available-for-sale debt securities, which are recorded at fair value and are included in current and long-term Marketable Securities on the balance sheets.
 
As of June 30, 2019
 
As of December 31, 2018
Eversource
(Millions of Dollars)
Amortized Cost
 
Pre-Tax
Unrealized Gains
 
Pre-Tax
Unrealized
Losses
 
Fair Value
 
Amortized Cost
 
Pre-Tax
Unrealized Gains
 
Pre-Tax
Unrealized
Losses
 
Fair Value
Debt Securities
$
204.3

 
$
5.4

 
$
(0.1
)
 
$
209.6

 
$
190.0

 
$
0.4

 
$
(4.0
)
 
$
186.4



Eversource's debt securities include CYAPC's and YAEC's marketable securities held in spent nuclear fuel trusts in the amounts of $172.4 million and $143.9 million as of June 30, 2019 and December 31, 2018, respectively.

Unrealized gains and losses on available-for-sale debt securities held in Eversource's non-qualified benefit trust are recorded in Accumulated Other Comprehensive Income. There have been no significant unrealized losses, other-than-temporary impairments, or credit losses for the three and six months ended June 30, 2019 and 2018.  Factors considered in determining whether a credit loss exists include the duration and severity of the impairment, adverse conditions specifically affecting the issuer, and the payment history, ratings and rating changes of the security.  For asset-backed debt securities, underlying collateral and expected future cash flows are also evaluated.

As of June 30, 2019, the contractual maturities of available-for-sale debt securities were as follows:  
Eversource
(Millions of Dollars)
Amortized Cost
 
Fair Value
Less than one year (1)
$
26.9

 
$
26.9

One to five years
48.8

 
49.6

Six to ten years
38.4

 
40.0

Greater than ten years
90.2

 
93.1

Total Debt Securities
$
204.3

 
$
209.6


(1) 
Amounts in the Less than one year category include securities in the CYAPC and YAEC spent nuclear fuel trusts, which are restricted and are classified in long-term Marketable Securities on the balance sheets.

Realized Gains and Losses:  Realized gains and losses are recorded in Other Income, Net for Eversource's benefit trust and are offset in Other Long-Term Liabilities for CYAPC and YAEC.  Eversource utilizes the specific identification basis method for the Eversource non-qualified benefit trust, and the average cost basis method for the CYAPC and YAEC spent nuclear fuel trusts to compute the realized gains and losses on the sale of marketable securities.

Fair Value Measurements:  The following table presents the marketable securities recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy:
Eversource
(Millions of Dollars)
As of June 30, 2019
 
As of December 31, 2018
Level 1:  
 
 
 
Mutual Funds and Equities
$
203.7

 
$
244.0

Money Market Funds
20.5

 
25.9

Total Level 1
$
224.2

 
$
269.9

Level 2:
 
 
 
U.S. Government Issued Debt Securities (Agency and Treasury)
$
107.0

 
$
79.6

Corporate Debt Securities
46.1

 
39.5

Asset-Backed Debt Securities
13.4

 
14.0

Municipal Bonds
12.8

 
19.2

Other Fixed Income Securities
9.8

 
8.2

Total Level 2
$
189.1

 
$
160.5

Total Marketable Securities
$
413.3

 
$
430.4



U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates.  Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instruments and also incorporating yield curves, credit spreads and specific bond terms and conditions.  Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables.  Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates, and tranche information.  Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields.  Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows.
v3.19.2
SHORT-TERM AND LONG-TERM DEBT
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
SHORT-TERM AND LONG-TERM DEBT SHORT-TERM AND LONG-TERM DEBT

Short-Term Debt - Commercial Paper Programs and Credit Agreements: Eversource parent has a $1.45 billion commercial paper program allowing Eversource parent to issue commercial paper as a form of short-term debt.  Eversource parent, CL&P, PSNH, NSTAR Gas and Yankee Gas are also parties to a five-year $1.45 billion revolving credit facility, which terminates on December 8, 2023. The revolving credit facility serves to backstop Eversource parent's $1.45 billion commercial paper program.  

NSTAR Electric has a $650 million commercial paper program allowing NSTAR Electric to issue commercial paper as a form of short-term debt. NSTAR Electric is also a party to a five-year $650 million revolving credit facility, which terminates on December 8, 2023. The revolving credit facility serves to backstop NSTAR Electric's $650 million commercial paper program.  

The amount of borrowings outstanding and available under the commercial paper programs were as follows:
 
Borrowings Outstanding as of
 
Available Borrowing Capacity as of
 
Weighted-Average Interest Rate as of
 
June 30, 2019
 
December 31, 2018
 
June 30, 2019
 
December 31, 2018
 
June 30, 2019
 
December 31, 2018
(Millions of Dollars)
 
 
 
 
 
Eversource Parent Commercial Paper Program
$
566.0

 
$
631.5

 
$
884.0

 
$
818.5

 
2.55
%
 
2.77
%
NSTAR Electric Commercial Paper Program
163.0

 
278.5

 
487.0

 
371.5

 
2.42
%
 
2.50
%


There were no borrowings outstanding on either the Eversource parent or NSTAR Electric revolving credit facilities as of June 30, 2019 or December 31, 2018. Eversource's water distribution segment has a $100 million revolving credit facility, which expires on August 19, 2019, and there were no borrowings outstanding as of June 30, 2019 or December 31, 2018.

Amounts outstanding under the commercial paper programs and revolving credit facility are included in Notes Payable and are classified in current liabilities on the Eversource and NSTAR Electric balance sheets as all borrowings are outstanding for no more than 364 days at one time.

We expect the future operating cash flows of Eversource, CL&P, NSTAR Electric and PSNH, along with our existing borrowing availability and access to both debt and equity markets, will be sufficient to meet any working capital and future operating requirements, and capital investment forecasted opportunities.

Intercompany Borrowings: Eversource parent uses its available capital resources to provide loans to its subsidiaries to assist them in meeting their short-term borrowing needs. In addition, growth in Eversource's key business initiatives requires cash infusion to those subsidiaries. Eversource parent records intercompany interest income from its loans to subsidiaries, which is eliminated in consolidation. Intercompany loans from Eversource parent to its subsidiaries are eliminated in consolidation on Eversource's balance sheets. As of June 30, 2019, there were intercompany loans from Eversource parent to CL&P of $259.4 million, to PSNH of $20.1 million, and to Harbor Electric Energy Company, a wholly-owned subsidiary of NSTAR Electric ("HEEC"), of $40.3 million. As of December 31, 2018, there were intercompany loans from Eversource parent to PSNH of $57.0 million. Intercompany loans from Eversource parent are included in Notes Payable to Eversource Parent and are classified in current liabilities on the respective subsidiary's balance sheets.

Long-Term Debt Issuance Authorization: On April 26, 2019, the NHPUC approved PSNH’s request for authorization to issue up to $300 million in long-term debt through December 31, 2019.

Long-Term Debt: The following table summarizes long-term debt issuances and repayments:
(Millions of Dollars)
Issue Date
 
Issuance/(Repayment)
 
Maturity Date
 
Use of Proceeds for Issuance/
Repayment Information
CL&P:
 
 
 
 
 
 
 
4.00% 2018 Series A First Mortgage Bonds (1)
April 2019
 
$
300.0

 
April 2048
 
Repaid short-term borrowings that were used to repay long-term debt that matured on February 1, 2019 and fund capital expenditures and working capital
5.50% 2009 Series A First Mortgage Bonds
February 2009
 
(250.0
)
 
February 2019
 
Repaid at maturity on February 1, 2019
NSTAR Electric:
 
 
 
 
 
 
 
3.25% 2019 Debentures
May 2019
 
400.0

 
May 2029
 
Repaid short-term borrowings that were used to fund investments in eligible green expenditures
PSNH:
 
 
 
 
 
 
 
3.60% 2019 Series T First Mortgage Bonds
June 2019
 
300.0

 
July 2049
 
Repay long-term debt due to mature in December 2019, repaid short-term borrowings and fund capital expenditures and working capital
Other:
 
 
 
 
 
 
 
NSTAR Gas 3.74% Series Q First Mortgage Bonds
July 2019
 
75.0

 
August 2049
 
Repaid short-term borrowings and fund capital expenditures and working capital

(1) 
These bonds are part of the same series issued by CL&P in March 2018. The aggregate outstanding principal amount of these bonds is now $800 million.

As a result of the NSTAR Gas debt issuance in July 2019, $75 million of current portion of long-term debt was reclassified to Long-Term Debt on Eversource's consolidated balance sheet as of June 30, 2019.
v3.19.2
RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES
6 Months Ended
Jun. 30, 2019
Rate Reduction Bonds and Variable Interest Entity [Abstract]  
RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES

Rate Reduction Bonds: On May 8, 2018, PSNH Funding, a wholly-owned subsidiary of PSNH, issued $635.7 million of securitized RRBs in multiple tranches with a weighted average interest rate of 3.66 percent, and final maturity dates ranging from 2026 to 2035.  The RRBs are expected to be repaid by February 1, 2033. RRB payments consist of principal and interest and will be paid semi-annually, beginning on February 1, 2019. The RRBs were issued pursuant to a finance order issued by the NHPUC on January 30, 2018 to recover remaining costs resulting from the divestiture of PSNH’s generation assets.

PSNH Funding is considered a VIE primarily because the equity capitalization is insufficient to support its operations. PSNH has the power to direct the significant activities of the VIE and is most closely associated with the VIE as compared to other interest holders. Therefore, PSNH is considered the primary beneficiary and consolidates PSNH Funding in its consolidated financial statements. The following tables summarize the impact of PSNH Funding on PSNH's balance sheets and income statements:
(Millions of Dollars)
 
 
 
Balance Sheet:
As of June 30, 2019
 
As of December 31, 2018
Restricted Cash - Current Portion (included in Prepayments and Other Current Assets)
$
35.0

 
$
47.5

Restricted Cash - Long-Term Portion (included in Other Long-Term Assets)
3.2

 
3.2

Securitized Stranded Costs (included in Regulatory Assets)
586.9

 
608.4

Other Regulatory Liabilities (included in Regulatory Liabilities)
7.9

 
5.8

Accrued Interest (included in Other Current Liabilities)
8.9

 
14.4

Rate Reduction Bonds - Current Portion
43.2

 
52.3

Rate Reduction Bonds - Long-Term Portion
561.7

 
583.3

(Millions of Dollars)
For the Three Months Ended
 
For the Six Months Ended
Income Statement:
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Amortization of RRB Principal (included in Amortization of Regulatory Assets, Net)
$
10.8

 
$
6.8

 
$
21.5

 
$
6.8

Interest Expense on RRB Principal (included in Interest Expense)
5.3

 
2.8

 
10.7

 
2.8


v3.19.2
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION
6 Months Ended
Jun. 30, 2019
Postemployment Benefits [Abstract]  
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION

Eversource provides defined benefit retirement plans ("Pension Plans") that cover eligible employees.  In addition to the Pension Plans, Eversource maintains non-qualified defined benefit retirement plans ("SERP Plans"), which provide benefits in excess of Internal Revenue Code limitations to eligible participants consisting of current and retired employees. Eversource also provides defined benefit postretirement plans ("PBOP Plans") that provide life insurance and a health reimbursement arrangement created for the purpose of reimbursing retirees and dependents for health insurance premiums and certain medical expenses to eligible employees that meet certain age and service eligibility requirements.

The components of net periodic benefit expense/(income) for the Pension, SERP and PBOP Plans, prior to amounts capitalized as Property, Plant and Equipment or deferred as regulatory assets for future recovery, are shown below.  The service cost component of net periodic benefit expense, less the capitalized portion, is included in Operations and Maintenance expense on the statements of income. The remaining components of net periodic benefit expense/(income), less the deferred portion, are included in Other Income, Net on the statements of income. Pension, SERP and PBOP expense reflected in the statements of cash flows for CL&P, NSTAR Electric and PSNH does not include the intercompany allocations or the corresponding capitalized and deferred portion, as these amounts are cash settled on a short-term basis.
 
Pension and SERP
 
For the Three Months Ended June 30, 2019
 
For the Three Months Ended June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Service Cost
$
16.1

 
$
4.4

 
$
3.6

 
$
1.5

 
$
20.7

 
$
5.2

 
$
4.3

 
$
2.7

Interest Cost
54.8

 
11.4

 
12.3

 
6.0

 
49.1

 
10.5

 
10.9

 
5.5

Expected Return on Pension Plan Assets
(91.7
)
 
(18.1
)
 
(24.2
)
 
(10.1
)
 
(97.9
)
 
(19.4
)
 
(26.6
)
 
(10.8
)
Actuarial Loss
35.6

 
6.3

 
11.8

 
2.3

 
35.7

 
7.1

 
10.1

 
3.3

Prior Service Cost
0.3

 

 

 

 
2.1

 
0.2

 
0.1

 
0.1

Total Net Periodic Benefit Expense/(Income)
$
15.1

 
$
4.0

 
$
3.5

 
$
(0.3
)
 
$
9.7

 
$
3.6

 
$
(1.2
)
 
$
0.8

Intercompany Allocations
N/A

 
$
5.8

 
$
5.3

 
$

 
N/A

 
$
1.5

 
$
1.6

 
$
0.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension and SERP
 
For the Six Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Service Cost
$
35.4

 
$
9.2

 
$
7.5

 
$
4.1

 
$
43.1

 
$
11.0

 
$
9.0

 
$
5.7

Interest Cost
109.1

 
23.0

 
24.2

 
12.2

 
97.8

 
20.9

 
21.7

 
10.9

Expected Return on Pension Plan Assets
(183.8
)
 
(36.9
)
 
(48.6
)
 
(20.4
)
 
(195.8
)
 
(40.2
)
 
(51.8
)
 
(21.8
)
Actuarial Loss
72.1

 
14.3

 
21.2

 
5.9

 
71.8

 
14.8

 
20.7

 
6.5

Prior Service Cost
0.6

 

 
0.1

 

 
4.1

 
0.6

 
0.1

 
0.2

Total Net Periodic Benefit Expense/(Income)
$
33.4

 
$
9.6

 
$
4.4

 
$
1.8

 
$
21.0

 
$
7.1

 
$
(0.3
)
 
$
1.5

Intercompany Allocations
N/A

 
$
13.6

 
$
8.4

 
$
2.5

 
N/A

 
$
3.0

 
$
3.2

 
$
1.0


 
PBOP
 
For the Three Months Ended June 30, 2019
 
For the Three Months Ended June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
Service Cost
$
1.8

 
$
0.3

 
$
0.4

 
$
0.1

 
$
2.5

 
$
0.4

 
$
0.5

 
$
0.3

Interest Cost
8.2

 
1.6

 
2.4

 
0.8

 
6.8

 
1.5

 
2.2

 
0.9

Expected Return on Plan Assets
(16.8
)
 
(2.3
)
 
(7.5
)
 
(1.3
)
 
(16.7
)
 
(2.6
)
 
(8.1
)
 
(1.5
)
Actuarial Loss
1.6

 
0.3

 
0.7

 

 
1.6

 
0.4

 
0.4

 
0.2

Prior Service Cost/(Credit)
(5.8
)
 
0.3

 
(4.2
)
 
0.1

 
(5.7
)
 
0.3

 
(4.3
)
 
0.1

Total Net Periodic Benefit Expense/(Income)
$
(11.0
)
 
$
0.2

 
$
(8.2
)
 
$
(0.3
)
 
$
(11.5
)
 
$

 
$
(9.3
)
 
$

Intercompany Allocations
N/A

 
$
(0.3
)
 
$
(0.4
)
 
$
(0.1
)
 
N/A

 
$
(0.2
)
 
$
(0.3
)
 
$
(0.1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PBOP
 
For the Six Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
Service Cost
$
3.9

 
$
0.7

 
$
0.9

 
$
0.4

 
$
5.0

 
$
0.9

 
$
1.0

 
$
0.6

Interest Cost
16.3

 
3.1

 
4.7

 
1.7

 
14.4

 
2.9

 
4.4

 
1.6

Expected Return on Plan Assets
(33.4
)
 
(4.5
)
 
(15.1
)
 
(2.8
)
 
(34.8
)
 
(5.2
)
 
(16.2
)
 
(3.0
)
Actuarial Loss
4.1

 
0.7

 
1.7

 
0.2

 
4.4

 
0.8

 
1.1

 
0.4

Prior Service Cost/(Credit)
(11.6
)
 
0.5

 
(8.5
)
 
0.2

 
(11.5
)
 
0.5

 
(8.5
)
 
0.3

Total Net Periodic Benefit Expense/(Income)
$
(20.7
)
 
$
0.5

 
$
(16.3
)
 
$
(0.3
)
 
$
(22.5
)
 
$
(0.1
)
 
$
(18.2
)
 
$
(0.1
)
Intercompany Allocations
N/A

 
$
(0.4
)
 
$
(0.6
)
 
$
(0.2
)
 
N/A

 
$
(0.5
)
 
$
(0.7
)
 
$
(0.2
)

v3.19.2
COMMITMENTS AND CONTINGENCIES
6 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES

A.    Environmental Matters
Eversource, CL&P, NSTAR Electric and PSNH are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or the remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current and former operating sites. Eversource, CL&P, NSTAR Electric and PSNH have an active environmental auditing and training program and each believes it is substantially in compliance with all enacted laws and regulations.

The number of environmental sites and related reserves for which remediation or long-term monitoring, preliminary site work or site assessment is being performed are as follows:
 
As of June 30, 2019
 
As of December 31, 2018
 
Number of Sites
 
Reserve
(in millions)
 
Number of Sites
 
Reserve
(in millions)
Eversource
58

 
$
71.6

 
60

 
$
64.7

CL&P
15

 
5.8

 
15

 
5.4

NSTAR Electric
15

 
10.5

 
16

 
10.9

PSNH
9

 
5.4

 
9

 
5.4



Included in the number of sites and reserve amounts above are former MGP sites that were operated several decades ago and manufactured gas from coal and other processes, which resulted in certain by-products remaining in the environment that may pose a potential risk to human health and the environment, for which Eversource may have potential liability.  The reserve balances related to these former MGP sites were $57.1 million and $50.1 million as of June 30, 2019 and December 31, 2018, respectively, and related primarily to the natural gas business segment.

These reserve estimates are subjective in nature as they take into consideration several different remediation options at each specific site.  The reliability and precision of these estimates can be affected by several factors, including new information concerning either the level of contamination at the site, the extent of Eversource's, CL&P's, NSTAR Electric's and PSNH's responsibility for remediation or the extent of remediation required, recently enacted laws and regulations or changes in cost estimates due to certain economic factors.  It is possible that new information or future developments could require a reassessment of the potential exposure to required environmental remediation.  As this information becomes available, management will continue to assess the potential exposure and adjust the reserves accordingly.

B.     Long-Term Contractual Arrangements
On December 28, 2018, under Public Act 17-3, "An Act Concerning Zero Carbon Procurement," DEEP selected the Millstone Nuclear Power Station generation facility, along with smaller generation facilities, in DEEP’s zero-carbon request for proposal. CL&P and UI were directed by DEEP to enter into ten-year contracts to purchase a combined total of approximately 9 million MWh annually from the Millstone generation facility. On March 15, 2019, CL&P and UI each signed a ten-year contract with the owner of Millstone Nuclear Power Station in order to purchase a combined amount of approximately 50 percent of the facility's output (approximately 40 percent by CL&P). The Millstone Nuclear Power Station has a 2,112 MW nameplate capacity. The parties filed the contract with PURA on March 29, 2019 for review and approval. A decision from PURA is expected in the third quarter of 2019.

The significant output of the generation facility, the contract period, and the pricing will result in a significant multi-billion dollar contractual commitment. We plan to sell the energy purchased under this contract into the market and use the proceeds from these energy sales to offset the contract costs.  As the net costs under this contract will be recovered from customers in future rates, the contract will not have an impact on the net income of CL&P.

C.    Guarantees and Indemnifications
In the normal course of business, Eversource parent provides credit assurances on behalf of its subsidiaries, including CL&P, NSTAR Electric and PSNH, in the form of guarantees.

Eversource parent issued a guaranty on behalf of its subsidiary, NPT, under which, beginning at the time the Northern Pass Transmission line would go into commercial operation, Eversource parent would guarantee the financial obligations of NPT under the TSA with HQ in an amount not to exceed $25 million.  Eversource parent's obligations under the guaranty expire upon the full, final and indefeasible payment of the guaranteed obligations. Eversource parent also entered into a guaranty on behalf of NPT under which Eversource parent would guarantee NPT's obligations under a facility with a financial institution pursuant to which NPT may request letters of credit in an aggregate amount of up to approximately $14 million. In the second quarter of 2019, Eversource concluded that construction of the NPT project was no longer probable. For further information regarding the impairment of NPT, see Note 1C, "Summary of Significant Accounting Policies - Impairment of Northern Pass Transmission," to the financial statements. While these guarantees are currently outstanding, it is expected that they will be extinguished pending the final dissolution of NPT.

Management does not anticipate a material impact to net income or cash flows as a result of these various guarantees and indemnifications.  The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries to external parties, as of June 30, 2019:  
Company
 
Description
 
Maximum Exposure
(in millions)
 
Expiration Dates
On behalf of subsidiaries:
 
 
 
 
 
 
Eversource Investment LLC
 
North East Offshore (1)
 
$
113.9

 
-
Various
 
Surety Bonds (2)
 
34.0

 
2019 - 2021
Rocky River Realty Company and Eversource Service
 
Lease Payments for Real Estate
 
7.1

 
2024
Bay State Wind
 
Real Estate Purchase
 
2.5

 
2020

(1) 
Eversource parent issued a declining balance guaranty on behalf of its subsidiary, Eversource Investment LLC, which holds an ownership interest in North East Offshore. Eversource parent will guarantee, as a primary obligor, the financial obligations, primarily all post-closing payment obligations of Eversource Investment LLC, under the Sale and Purchase Agreement and an Irrevocable Equity Commitment Letter with Ørsted. Eversource parent's obligations under the guaranty expire upon the full, final and indefeasible payment of the guaranteed obligations.

(2) 
Surety bond expiration dates reflect termination dates, the majority of which will be renewed or extended.  Certain surety bonds contain credit ratings triggers that would require Eversource parent to post collateral in the event that the unsecured debt credit ratings of Eversource parent are downgraded.  

D.     Spent Nuclear Fuel Obligations - Yankee Companies
CL&P, NSTAR Electric and PSNH have plant closure and fuel storage cost obligations to the Yankee Companies, which have each completed the physical decommissioning of their respective nuclear facilities and are now engaged in the long-term storage of their spent fuel. The Yankee Companies fund these costs through litigation proceeds received from the DOE and, to the extent necessary, through wholesale, FERC-approved rates charged under power purchase agreements with several New England utilities, including CL&P, NSTAR Electric and PSNH. CL&P, NSTAR Electric and PSNH, in turn recover these costs from their customers through state regulatory commission-approved retail rates. The Yankee Companies collect amounts that management believes are adequate to recover the remaining plant closure and fuel storage cost estimates for the respective plants. Management believes CL&P and NSTAR Electric will recover their shares of these obligations from their customers. PSNH has recovered its total share of these costs from its customers.

Spent Nuclear Fuel Litigation:
The Yankee Companies have filed complaints against the DOE in the Court of Federal Claims seeking monetary damages resulting from the DOE's failure to provide for a permanent facility to store spent nuclear fuel pursuant to the terms of the 1983 spent fuel and high level waste disposal contracts between the Yankee Companies and the DOE. The court had previously awarded the Yankee Companies damages for Phase I, II and III of litigation resulting from the DOE's failure to meet its contractual obligations. These Phases covered damages incurred in the years 1998 through 2012, and the awarded damages have been received by the Yankee Companies with certain amounts of the damages refunded to their customers.

DOE Phase IV Damages - On May 22, 2017, each of the Yankee Companies filed subsequent lawsuits against the DOE in the Court of Federal
Claims. The Yankee Companies sought monetary damages totaling $104.4 million for CYAPC, YAEC and MYAPC, resulting from the DOE's failure to begin accepting spent nuclear fuel for disposal covering the years from 2013 to 2016 (“DOE Phase IV”). On February 21, 2019, the Yankee Companies received a partial summary judgment and partial final judgment in their favor for the undisputed amount of monetary damages of $103.2 million. The court awarded CYAPC, YAEC and MYAPC damages of $40.7 million, $28.1 million and $34.4 million, respectively. The DOE did not appeal the court's judgment and the decision became final on April 23, 2019. On June 12, 2019, CYAPC and YAEC received damages of $40.7 million and $28.1 million, respectively, which were recorded as restricted cash within Other Long-Term Assets on the Eversource consolidated balance sheet as of June 30, 2019.

The Yankee Companies are in the process of preparing a required informational filing with FERC as to the use of proceeds. At this time, the damages are primarily expected to be used by the Yankee Companies to fund remaining fuel storage obligations, and management does not expect significant amounts to be refunded to Eversource utilities (CL&P, NSTAR Electric and PSNH). The utilities would then ultimately refund any amounts received to utility customers.

On June 12, 2019, the court accepted an offer of judgment in the amount of $0.5 million to settle the disputed amount of approximately $1 million in Phase IV contested damages. The Yankee Companies received the $0.5 million payment in July 2019.

E.    FERC ROE Complaints
Four separate complaints have been filed at the FERC by combinations of New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (collectively the "Complainants"). In each of the first three complaints, filed on October 1, 2011, December 27, 2012, and July 31, 2014, respectively, the Complainants challenged the NETOs' base ROE of 11.14 percent that had been utilized since 2005 and sought an order to reduce it prospectively from the date of the final FERC order and for the separate 15-month complaint periods. In the fourth complaint, filed April 29, 2016, the Complainants challenged the NETOs' base ROE billed of 10.57 percent and the maximum ROE for transmission incentive ("incentive cap") of 11.74 percent, asserting that these ROEs were unjust and unreasonable.

The ROE originally billed during the period October 1, 2011 (beginning of the first complaint period) through October 15, 2014 consisted of a base ROE of 11.14 percent and incentives up to 13.1 percent. On October 16, 2014, the FERC set the base ROE at 10.57 percent and the incentive cap at 11.74 percent for the first complaint period. This was also effective for all prospective billings to customers beginning October 16, 2014. This FERC order was vacated on April 14, 2017 by the U.S. Court of Appeals for the D.C. Circuit (the "Court").

All amounts associated with the first complaint period have been refunded, which totaled $38.9 million (pre-tax and excluding interest) at Eversource and reflected both the base ROE and incentive cap prescribed by the FERC order. The refund consisted of $22.4 million for CL&P, $13.7 million for NSTAR Electric and $2.8 million for PSNH.

Eversource has recorded a reserve of $39.1 million (pre-tax and excluding interest) for the second complaint period as of June 30, 2019. This reserve represents the difference between the billed rates during the second complaint period and a 10.57 percent base ROE and 11.74 percent incentive cap. The reserve consisted of $21.4 million for CL&P, $14.6 million for NSTAR Electric and $3.1 million for PSNH as of June 30, 2019.

On October 16, 2018, FERC issued an order on all four complaints describing how it intends to address the issues that were remanded by the Court. FERC proposed a new framework to determine (1) whether an existing ROE is unjust and unreasonable and, if so, (2) how to calculate a replacement ROE. The parties to these proceedings were directed to submit briefs on this new proposed framework and how they would apply the proposed framework in each of the four complaint proceedings. Initial briefs were filed by the NETOs, Complainants and FERC Trial Staff on January 11, 2019 and reply briefs were filed on March 8, 2019. The NETOs' brief was supportive of the overall ROE methodology determined in the October 16, 2018 order provided the FERC does not change the proposed methodology or alter its implementation in a manner that has a material impact on the results.

The FERC order included illustrative calculations for the first complaint using FERC's proposed frameworks with financial data from that complaint. Those preliminary calculations indicated that for the first complaint period, for the NETOs that FERC concludes are of average financial risk, (1) a preliminary range of presumptively just and reasonable base ROEs is 9.60 percent to 10.99 percent; (2) the pre-existing base ROE of 11.14 percent is therefore unjust and unreasonable; (3) the preliminary just and reasonable base ROE is 10.41 percent; and (4) the preliminary incentive cap on total ROE is 13.08 percent.

If the results of these illustrative calculations were included in a final FERC order for each of the complaint periods, then a 10.41 percent base ROE and a 13.08 percent incentive cap would not have a significant impact on our financial statements for all of the complaint periods.

Although the order provided illustrative calculations, FERC stated that these calculations are merely preliminary. The FERC’s preliminary calculations are not binding and do not represent what we believe to be the most likely outcome of a final FERC order, as changes to the methodology by FERC are possible as a result of the parties’ arguments and calculations in the briefing process. Until FERC issues a final decision on each of these four complaints, there is significant uncertainty, and at this time, the Company cannot reasonably estimate a range of gain or loss for any of the four complaint proceedings. The October 16, 2018 FERC order or the 2019 briefs did not provide a reasonable basis for a change to the reserve or recognized ROEs for any of the complaint periods.

Eversource, CL&P, NSTAR Electric and PSNH currently record revenues at the 10.57 percent base ROE and incentive cap at 11.74 percent established in the October 16, 2014 FERC order.

The average impact of a 10 basis point change to the base ROE for each of the 15-month complaint periods would affect Eversource's after-tax earnings by approximately $3 million.

F.    Eversource and NSTAR Electric Boston Harbor Civil Action
On July 15, 2016, the United States Attorney on behalf of the United States Army Corps of Engineers filed a civil action in the United States District Court for the District of Massachusetts under provisions of the Rivers and Harbors Act of 1899 and the Clean Water Act against NSTAR Electric, HEEC, and the Massachusetts Water Resources Authority (together with NSTAR Electric and HEEC, the "Defendants").  The action alleged that the Defendants failed to comply with certain permitting requirements related to the placement of the HEEC-owned electric distribution cable beneath Boston Harbor.  The action sought an order to compel HEEC to comply with cable depth requirements in the United States Army Corps of Engineers' permit or alternatively to remove the electric distribution cable and cease unauthorized work in U.S. waterways.  The action also sought civil penalties and other costs.

The parties reached a settlement pursuant to which HEEC agreed to install a new 115kV distribution cable across Boston Harbor to Deer Island, utilizing a different route, and remove portions of the existing cable. Upon the installation and completion of the new cable and the removal of the portions of the existing cable, all issues surrounding the current permit from the United States Army Corps of Engineers are expected to be resolved, and such litigation is expected to be dismissed with prejudice.

NSTAR Electric agreed to provide a rate base credit of $17.5 million to the Massachusetts Water Resources Authority for the new cable. This negotiated credit resulted in the initial $17.5 million of construction costs on the new cable being expensed as incurred, all of which was fully expensed in 2018. Construction of the new cable is underway and is expected to be completed in 2019.
v3.19.2
LEASES
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
LEASES LEASES

Eversource, including CL&P, NSTAR Electric and PSNH, has entered into lease agreements as a lessee for the use of land, office space, service centers, vehicles, information technology, and equipment. These lease agreements are classified as either finance or operating leases and the liability and right-of-use asset are recognized on the balance sheet at lease commencement.  Leases with an initial term of 12 months or less are not recorded on the balance sheet and are recognized as lease expense on a straight-line basis over the lease term.

Eversource determines whether or not a contract contains a lease based on whether or not it provides Eversource with the use of a specifically identified asset for a period of time, as well as both the right to direct the use of that asset and receive the significant economic benefits of the asset. Eversource has elected the practical expedient to not separate non-lease components from lease components and instead to account for both as a single lease component, with the exception of the information technology asset class where the lease and non-lease components are separated.

The provisions of Eversource, CL&P, NSTAR Electric and PSNH lease agreements contain renewal options. The renewal options range from one year to twenty years. The renewal period is included in the measurement of the lease liability if it is reasonably certain that Eversource will exercise these renewal options.

For leases entered into or modified after the January 1, 2019 implementation date, the discount rate utilized for classification and measurement purposes as of the inception date of the lease is based on each company's collateralized incremental interest rate to borrow over a comparable term for an individual lease, as the rate implicit in the lease is not determinable.

CL&P and PSNH entered into certain contracts for the purchase of energy that qualify as leases.  These contracts do not have minimum lease payments and therefore are not recognized as a lease liability on the balance sheet and are not reflected in the future minimum lease payments table below.  Expense related to these contracts are included as variable lease cost in the table below. The expense and long-term obligation for these contracts are included in the annually reported contractual obligations table in Note 12B, "Commitments and Contingencies - Long-Term Contractual Arrangements," of the Eversource 2018 Form 10-K.  

The components of lease cost, prior to amounts capitalized, are as follows:
 
For the Three Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2019
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Financing Lease Cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization of Right-of-use-Assets
$
0.4

 
$
0.2

 
$

 
$

 
$
0.7

 
$
0.4

 
$
0.1

 
$

Interest on Lease Liabilities
0.3

 
0.1

 
0.2

 

 
0.7

 
0.3

 
0.3

 

Total Finance Lease Cost
0.7

 
0.3

 
0.2

 

 
1.4

 
0.7

 
0.4

 

Operating Lease Cost
2.9

 
0.1

 
0.5

 

 
5.9

 
0.1

 
0.9

 

Variable Lease Cost
15.7

 
3.1

 

 
12.6

 
31.1

 
6.5

 

 
24.6

Total Lease Cost
$
19.3

 
$
3.5

 
$
0.7

 
$
12.6

 
$
38.4

 
$
7.3

 
$
1.3

 
$
24.6



Operating lease cost, less the capitalized portion, is included in Operations and Maintenance (or Purchased Power, Fuel and Transmission expense for transmission segment leases) on the statements of income. Amortization of finance lease assets is included in Depreciation on the statements of income. Interest expense on finance leases is included in Interest Expense, Net on the statements of income.

Supplemental balance sheet information related to leases is as follows:
 
 
 
As of June 30, 2019
(Millions of Dollars)
Balance Sheet Classification
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Operating Leases:
 
 
 
 
 
 
 
 
 
Operating Lease Right-of-use-Assets, Net
Other Long-Term Assets
 
$
54.6

 
$
0.6

 
$
24.4

 
$
0.8

Operating Lease Liabilities
 
 
 
 
 
 
 
 
 
Operating Lease Liabilities - Current Portion
Other Current Liabilities
 
$
8.8

 
$
0.2

 
$
0.5

 
$
0.2

Operating Lease Liabilities - Long-Term
Other Long-Term Liabilities
 
45.8

 
0.4

 
23.9

 
0.6

Total Operating Lease Liabilities
 
 
$
54.6

 
$
0.6

 
$
24.4

 
$
0.8

Finance Leases:
 
 
 
 
 
 
 
 
 
Finance Lease Right-of-use-Assets, Net
Property, Plant and Equipment, Net
 
$
9.4

 
$
2.6

 
$
3.4

 
$
0.9

Finance Lease Liabilities
 
 
 
 
 
 
 
 
 
Finance Lease Liabilities - Current Portion
Other Current Liabilities
 
$
2.3

 
$
1.5

 
$

 
$
0.1

Finance Lease Liabilities - Long-Term
Other Long-Term Liabilities
 
9.3

 
2.3

 
4.4

 
0.8

Total Finance Lease Liabilities
 
 
$
11.6

 
$
3.8

 
$
4.4

 
$
0.9



The finance lease payments that NSTAR Electric will make over the next twelve months are entirely interest-related, due to escalating payments. As such, none of the finance lease payments over the next twelve months will reduce the finance lease liability.

Other information related to leases is as follows (in millions of dollars, unless otherwise noted):
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
As of June 30, 2019
 
 
 
 
 
 
 
Weighted-Average Remaining Lease Term (Years):
 
 
 
 
 
 
 
Operating Leases
12

 
4

 
21

 
8

Financing Leases
11

 
2

 
23

 
9

Weighted-Average Discount Rate (Percentage):
 
 
 
 
 
 
 
Operating Leases
3.9
%
 
2.7
%
 
4.1
%
 
3.6
%
Financing Leases
4.3
%
 
10.5
%
 
2.9
%
 
3.5
%
 
 
 
 
 
 
 
 
For the Three Months Ended June 30, 2019
 
 
 
 
 
 
 
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
 
 
 
 
 
 
 
Operating Cash Flows from Operating Leases
$
3.0

 
$
0.1

 
$
0.5

 
$

Operating Cash Flows from Finance Leases
0.3

 
0.1

 
0.1

 

Financing Cash Flows from Finance Leases
0.5

 
0.4

 

 

Supplemental Non-Cash Information on Lease Liabilities:
 
 
 
 
 
 
 
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities
0.4

 
0.2

 

 
0.2

Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities
1.3

 

 

 


 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
For the Six Months Ended June 30, 2019
 
 
 
 
 
 
 
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
 
 
 
 
 
 
 
Operating Cash Flows from Operating Leases
$
5.9

 
$
0.1

 
$
0.8

 
$

Operating Cash Flows from Finance Leases
0.6

 
0.3

 
0.3

 

Financing Cash Flows from Finance Leases
0.9

 
0.7

 

 

Supplemental Non-Cash Information on Lease Liabilities:
 
 
 
 
 
 
 
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities
1.7

 
0.2

 

 
0.2

Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities
1.3

 

 

 



Future minimum lease payments, excluding variable costs, under long-term leases, as of June 30, 2019 are as follows:
 
Operating Leases
 
Finance Leases

(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
July 1, 2019 through December 31, 2019
$
5.7

 
$
0.3

 
$
0.8

 
$
0.2

 
$
1.7

 
$
1.0

 
$
0.3

 
$
0.1

Year Ending December 31,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2020
10.3

 
0.2

 
1.6

 
0.2

 
3.4

 
2.0

 
0.5

 
0.1

2021
9.2

 
0.1

 
1.6

 
0.2

 
2.9

 
1.5

 
0.5

 
0.1

2022
7.5

 

 
1.6

 
0.1

 
1.5

 

 
0.6

 
0.1

2023
4.9

 

 
1.6

 
0.1

 
0.7

 

 
0.6

 
0.1

2024
2.9

 

 
1.7

 

 
0.7

 

 
0.6

 
0.1

Thereafter
29.2

 
0.1

 
28.9

 
0.2

 
13.2

 

 
12.8

 
0.4

Future lease payments
69.7

 
0.7

 
37.8

 
1.0

 
24.1

 
4.5

 
15.9

 
1.0

Less amount representing interest
15.1

 
0.1

 
13.4

 
0.2

 
12.5

 
0.7

 
11.5

 
0.1

Present value of future minimum lease payments
$
54.6

 
$
0.6

 
$
24.4

 
$
0.8

 
$
11.6

 
$
3.8

 
$
4.4

 
$
0.9



At December 31, 2018, future minimum rental payments, excluding executory costs, such as property taxes, state use taxes, insurance, and maintenance were as follows:
Operating Leases
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
2019
$
11.5

 
$
1.5

 
$
7.2

 
$
0.5

2020
9.8

 
1.4

 
6.0

 
0.4

2021
8.7

 
1.2

 
5.3

 
0.4

2022
7.2

 
1.1

 
4.4

 
0.4

2023
4.7

 
0.5

 
3.1

 
0.2

Thereafter
32.7

 
0.2

 
29.5

 
0.3

Future minimum lease payments
$
74.6

 
$
5.9

 
$
55.5

 
$
2.2


Capital Leases
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
2019
$
3.4

 
$
2.0

 
$
0.5

 
$
0.1

2020
3.4

 
2.0

 
0.5

 
0.1

2021
2.9

 
1.5

 
0.5

 
0.1

2022
1.5

 

 
0.6

 
0.1

2023
0.7

 

 
0.6

 
0.1

Thereafter
13.9

 

 
13.4

 
0.5

Future minimum lease payments
25.8

 
5.5

 
16.1

 
1.0

Less amount representing interest
13.8

 
1.0

 
12.4

 
0.1

Present value of future minimum lease payments
$
12.0

 
$
4.5

 
$
3.7

 
$
0.9


LEASES LEASES

Eversource, including CL&P, NSTAR Electric and PSNH, has entered into lease agreements as a lessee for the use of land, office space, service centers, vehicles, information technology, and equipment. These lease agreements are classified as either finance or operating leases and the liability and right-of-use asset are recognized on the balance sheet at lease commencement.  Leases with an initial term of 12 months or less are not recorded on the balance sheet and are recognized as lease expense on a straight-line basis over the lease term.

Eversource determines whether or not a contract contains a lease based on whether or not it provides Eversource with the use of a specifically identified asset for a period of time, as well as both the right to direct the use of that asset and receive the significant economic benefits of the asset. Eversource has elected the practical expedient to not separate non-lease components from lease components and instead to account for both as a single lease component, with the exception of the information technology asset class where the lease and non-lease components are separated.

The provisions of Eversource, CL&P, NSTAR Electric and PSNH lease agreements contain renewal options. The renewal options range from one year to twenty years. The renewal period is included in the measurement of the lease liability if it is reasonably certain that Eversource will exercise these renewal options.

For leases entered into or modified after the January 1, 2019 implementation date, the discount rate utilized for classification and measurement purposes as of the inception date of the lease is based on each company's collateralized incremental interest rate to borrow over a comparable term for an individual lease, as the rate implicit in the lease is not determinable.

CL&P and PSNH entered into certain contracts for the purchase of energy that qualify as leases.  These contracts do not have minimum lease payments and therefore are not recognized as a lease liability on the balance sheet and are not reflected in the future minimum lease payments table below.  Expense related to these contracts are included as variable lease cost in the table below. The expense and long-term obligation for these contracts are included in the annually reported contractual obligations table in Note 12B, "Commitments and Contingencies - Long-Term Contractual Arrangements," of the Eversource 2018 Form 10-K.  

The components of lease cost, prior to amounts capitalized, are as follows:
 
For the Three Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2019
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Financing Lease Cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization of Right-of-use-Assets
$
0.4

 
$
0.2

 
$

 
$

 
$
0.7

 
$
0.4

 
$
0.1

 
$

Interest on Lease Liabilities
0.3

 
0.1

 
0.2

 

 
0.7

 
0.3

 
0.3

 

Total Finance Lease Cost
0.7

 
0.3

 
0.2

 

 
1.4

 
0.7

 
0.4

 

Operating Lease Cost
2.9

 
0.1

 
0.5

 

 
5.9

 
0.1

 
0.9

 

Variable Lease Cost
15.7

 
3.1

 

 
12.6

 
31.1

 
6.5

 

 
24.6

Total Lease Cost
$
19.3

 
$
3.5

 
$
0.7

 
$
12.6

 
$
38.4

 
$
7.3

 
$
1.3

 
$
24.6



Operating lease cost, less the capitalized portion, is included in Operations and Maintenance (or Purchased Power, Fuel and Transmission expense for transmission segment leases) on the statements of income. Amortization of finance lease assets is included in Depreciation on the statements of income. Interest expense on finance leases is included in Interest Expense, Net on the statements of income.

Supplemental balance sheet information related to leases is as follows:
 
 
 
As of June 30, 2019
(Millions of Dollars)
Balance Sheet Classification
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Operating Leases:
 
 
 
 
 
 
 
 
 
Operating Lease Right-of-use-Assets, Net
Other Long-Term Assets
 
$
54.6

 
$
0.6

 
$
24.4

 
$
0.8

Operating Lease Liabilities
 
 
 
 
 
 
 
 
 
Operating Lease Liabilities - Current Portion
Other Current Liabilities
 
$
8.8

 
$
0.2

 
$
0.5

 
$
0.2

Operating Lease Liabilities - Long-Term
Other Long-Term Liabilities
 
45.8

 
0.4

 
23.9

 
0.6

Total Operating Lease Liabilities
 
 
$
54.6

 
$
0.6

 
$
24.4

 
$
0.8

Finance Leases:
 
 
 
 
 
 
 
 
 
Finance Lease Right-of-use-Assets, Net
Property, Plant and Equipment, Net
 
$
9.4

 
$
2.6

 
$
3.4

 
$
0.9

Finance Lease Liabilities
 
 
 
 
 
 
 
 
 
Finance Lease Liabilities - Current Portion
Other Current Liabilities
 
$
2.3

 
$
1.5

 
$

 
$
0.1

Finance Lease Liabilities - Long-Term
Other Long-Term Liabilities
 
9.3

 
2.3

 
4.4

 
0.8

Total Finance Lease Liabilities
 
 
$
11.6

 
$
3.8

 
$
4.4

 
$
0.9



The finance lease payments that NSTAR Electric will make over the next twelve months are entirely interest-related, due to escalating payments. As such, none of the finance lease payments over the next twelve months will reduce the finance lease liability.

Other information related to leases is as follows (in millions of dollars, unless otherwise noted):
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
As of June 30, 2019
 
 
 
 
 
 
 
Weighted-Average Remaining Lease Term (Years):
 
 
 
 
 
 
 
Operating Leases
12

 
4

 
21

 
8

Financing Leases
11

 
2

 
23

 
9

Weighted-Average Discount Rate (Percentage):
 
 
 
 
 
 
 
Operating Leases
3.9
%
 
2.7
%
 
4.1
%
 
3.6
%
Financing Leases
4.3
%
 
10.5
%
 
2.9
%
 
3.5
%
 
 
 
 
 
 
 
 
For the Three Months Ended June 30, 2019
 
 
 
 
 
 
 
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
 
 
 
 
 
 
 
Operating Cash Flows from Operating Leases
$
3.0

 
$
0.1

 
$
0.5

 
$

Operating Cash Flows from Finance Leases
0.3

 
0.1

 
0.1

 

Financing Cash Flows from Finance Leases
0.5

 
0.4

 

 

Supplemental Non-Cash Information on Lease Liabilities:
 
 
 
 
 
 
 
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities
0.4

 
0.2

 

 
0.2

Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities
1.3

 

 

 


 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
For the Six Months Ended June 30, 2019
 
 
 
 
 
 
 
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
 
 
 
 
 
 
 
Operating Cash Flows from Operating Leases
$
5.9

 
$
0.1

 
$
0.8

 
$

Operating Cash Flows from Finance Leases
0.6

 
0.3

 
0.3

 

Financing Cash Flows from Finance Leases
0.9

 
0.7

 

 

Supplemental Non-Cash Information on Lease Liabilities:
 
 
 
 
 
 
 
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities
1.7

 
0.2

 

 
0.2

Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities
1.3

 

 

 



Future minimum lease payments, excluding variable costs, under long-term leases, as of June 30, 2019 are as follows:
 
Operating Leases
 
Finance Leases

(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
July 1, 2019 through December 31, 2019
$
5.7

 
$
0.3

 
$
0.8

 
$
0.2

 
$
1.7

 
$
1.0

 
$
0.3

 
$
0.1

Year Ending December 31,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2020
10.3

 
0.2

 
1.6

 
0.2

 
3.4

 
2.0

 
0.5

 
0.1

2021
9.2

 
0.1

 
1.6

 
0.2

 
2.9

 
1.5

 
0.5

 
0.1

2022
7.5

 

 
1.6

 
0.1

 
1.5

 

 
0.6

 
0.1

2023
4.9

 

 
1.6

 
0.1

 
0.7

 

 
0.6

 
0.1

2024
2.9

 

 
1.7

 

 
0.7

 

 
0.6

 
0.1

Thereafter
29.2

 
0.1

 
28.9

 
0.2

 
13.2

 

 
12.8

 
0.4

Future lease payments
69.7

 
0.7

 
37.8

 
1.0

 
24.1

 
4.5

 
15.9

 
1.0

Less amount representing interest
15.1

 
0.1

 
13.4

 
0.2

 
12.5

 
0.7

 
11.5

 
0.1

Present value of future minimum lease payments
$
54.6

 
$
0.6

 
$
24.4

 
$
0.8

 
$
11.6

 
$
3.8

 
$
4.4

 
$
0.9



At December 31, 2018, future minimum rental payments, excluding executory costs, such as property taxes, state use taxes, insurance, and maintenance were as follows:
Operating Leases
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
2019
$
11.5

 
$
1.5

 
$
7.2

 
$
0.5

2020
9.8

 
1.4

 
6.0

 
0.4

2021
8.7

 
1.2

 
5.3

 
0.4

2022
7.2

 
1.1

 
4.4

 
0.4

2023
4.7

 
0.5

 
3.1

 
0.2

Thereafter
32.7

 
0.2

 
29.5

 
0.3

Future minimum lease payments
$
74.6

 
$
5.9

 
$
55.5

 
$
2.2


Capital Leases
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
2019
$
3.4

 
$
2.0

 
$
0.5

 
$
0.1

2020
3.4

 
2.0

 
0.5

 
0.1

2021
2.9

 
1.5

 
0.5

 
0.1

2022
1.5

 

 
0.6

 
0.1

2023
0.7

 

 
0.6

 
0.1

Thereafter
13.9

 

 
13.4

 
0.5

Future minimum lease payments
25.8

 
5.5

 
16.1

 
1.0

Less amount representing interest
13.8

 
1.0

 
12.4

 
0.1

Present value of future minimum lease payments
$
12.0

 
$
4.5

 
$
3.7

 
$
0.9


v3.19.2
FAIR VALUE OF FINANCIAL INSTRUMENTS
6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS FAIR VALUE OF FINANCIAL INSTRUMENTS

The following methods and assumptions were used to estimate the fair value of each of the following financial instruments:

Preferred Stock, Long-Term Debt and Rate Reduction Bonds:  The fair value of CL&P's and NSTAR Electric's preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow projections.  The fair value of long-term debt and RRB debt securities is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields.  The fair values provided in the table below are classified as Level 2 within the fair value hierarchy.  Carrying amounts and estimated fair values are as follows:
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
(Millions of Dollars)
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
As of June 30, 2019:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred Stock Not Subject to Mandatory Redemption
$
155.6

 
$
161.0

 
$
116.2

 
$
117.4

 
$
43.0

 
$
43.6

 
$

 
$

Long-Term Debt
13,818.5

 
14,639.4

 
3,309.5

 
3,724.9

 
3,341.5

 
3,599.6

 
1,101.8

 
1,145.3

Rate Reduction Bonds
604.9

 
642.2

 

 

 

 

 
604.9

 
642.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred Stock Not Subject to Mandatory Redemption
$
155.6

 
$
156.8

 
$
116.2

 
$
113.8

 
$
43.0

 
$
43.0

 
$

 
$

Long-Term Debt
13,086.1

 
13,154.9

 
3,254.0

 
3,429.2

 
2,944.8

 
3,024.1

 
805.2

 
819.5

Rate Reduction Bonds
635.7

 
645.8

 

 

 

 

 
635.7

 
645.8



Derivative Instruments and Marketable Securities: Derivative instruments and investments in marketable securities are carried at fair value.  For further information, see Note 4, "Derivative Instruments," and Note 5, "Marketable Securities," to the financial statements.  

See Note 1E, "Summary of Significant Accounting Policies - Fair Value Measurements," for the fair value measurement policy and the fair value hierarchy.
v3.19.2
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

The changes in accumulated other comprehensive income/(loss) by component, net of tax, are as follows:
 
For the Six Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2018
Eversource 
(Millions of Dollars)
Qualified
Cash Flow
Hedging
Instruments
 
Unrealized
Gains/(Losses)
 on Marketable
Securities
 
Defined
Benefit Plans
 
Total
 
Qualified
Cash Flow
Hedging
Instruments
 
Unrealized
Losses on
Marketable
Securities
 
Defined
Benefit Plans
 
Total
Balance as of January 1st
$
(4.4
)
 
$
(0.5
)
 
$
(55.1
)
 
$
(60.0
)
 
$
(6.2
)
 
$

 
$
(60.2
)
 
$
(66.4
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OCI Before Reclassifications

 
1.1

 
2.6

 
3.7

 

 
(0.6
)
 
2.6

 
2.0

Amounts Reclassified from AOCI
0.6

 

 
2.1

 
2.7

 
1.2

 

 
2.2

 
3.4

Net OCI
0.6

 
1.1

 
4.7

 
6.4

 
1.2

 
(0.6
)
 
4.8

 
5.4

Balance as of June 30th
$
(3.8
)
 
$
0.6

 
$
(50.4
)
 
$
(53.6
)
 
$
(5.0
)
 
$
(0.6
)
 
$
(55.4
)
 
$
(61.0
)


Eversource's qualified cash flow hedging instruments represent interest rate swap agreements on debt issuances that were settled in prior years. The settlement amount was recorded in AOCI and is being amortized into Net Income over the term of the underlying debt instrument.  CL&P, NSTAR Electric and PSNH continue to amortize interest rate swaps settled in prior years from AOCI into Interest Expense over the remaining life of the associated long-term debt. Such interest rate swaps are not material to their respective financial statements.

Defined benefit plan OCI amounts before reclassifications relate to actuarial gains and losses that arose during the year and were recognized in AOCI. The unamortized actuarial gains and losses and prior service costs on the defined benefit plans are amortized from AOCI into Other Income, Net over the average future employee service period, and are reflected in amounts reclassified from AOCI.

Eversource did not elect to reclassify the income tax effects of the Tax Cuts and Jobs Act from AOCI to Retained Earnings as permitted by ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220).
v3.19.2
COMMON SHARES
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
COMMON SHARES COMMON SHARES

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  
 
Shares
 
 
 
Authorized as of June 30, 2019 and December 31, 2018
 
Issued as of
 
Par Value
 
 
June 30, 2019
 
December 31, 2018
Eversource
$
5

 
380,000,000

 
339,858,402

 
333,878,402

CL&P
$
10

 
24,500,000

 
6,035,205

 
6,035,205

NSTAR Electric
$
1

 
100,000,000

 
200

 
200

PSNH
$
1

 
100,000,000

 
301

 
301



Common Share Issuance and Forward Sale Agreement: On June 4, 2019, Eversource completed an equity offering of 17,940,000 common shares, consisting of 5,980,000 common shares issued directly by the Company and 11,960,000 common shares issuable pursuant to a forward sale agreement with an investment bank. The issuance of 5,980,000 common shares resulted in proceeds of $426.9 million, net of issuance costs, and was reflected in shareholders’ equity and as a financing activity on the statement of cash flows.

Under the forward sale agreement, a total of 11,960,000 common shares were borrowed from third parties and sold to the underwriters. The forward sale agreement allows Eversource, at its election and prior to May 29, 2020, to physically settle the forward sale agreement by issuing common shares in exchange for net proceeds at the then-applicable forward sale price specified by the agreement (initially, $71.48 per share) or, alternatively, to settle the forward sale agreement in whole or in part through the delivery or receipt of shares or cash. The forward sale price is subject to adjustment daily based on a floating interest rate factor and will decrease in respect of certain fixed amounts specified in the agreement, such as dividends.

Eversource’s intent is to physically settle the forward sale agreement by issuing common shares. As of June 30, 2019, if Eversource had elected to net settle the forward sale agreement, Eversource would have been required to pay $50.2 million under a cash settlement or would have been required to deliver 662,694 common shares under a net share settlement.

Issuances of shares under the forward sale agreement are classified as equity transactions. Accordingly, no amounts relating to the forward sale agreement have or will be recorded in the financial statements until settlements take place. Prior to any settlements, the only impact to the financial statements is the inclusion of incremental shares within the calculation of diluted EPS using the treasury stock method. See Note 15, "Earnings Per Share," for information on the forward sale agreement’s impact on the calculation of diluted EPS.

Treasury Shares: As of June 30, 2019 and December 31, 2018, there were 16,283,963 and 16,992,594 Eversource common shares held as treasury shares, respectively. As of June 30, 2019 and December 31, 2018, Eversource common shares outstanding were 323,574,439 and 316,885,808, respectively.

Beginning in 2019, Eversource began issuing treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment plan, and matching contributions under the Eversource 401k Plan.
COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

Dividends on the preferred stock of CL&P and NSTAR Electric totaled $1.9 million for each of the three months ended June 30, 2019 and 2018 and $3.8 million for each of the six months ended June 30, 2019 and 2018. These dividends were presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Noncontrolling Interest – Preferred Stock of Subsidiaries on the Eversource balance sheets totaled $155.6 million as of June 30, 2019 and December 31, 2018. On the Eversource balance sheets, Common Shareholders' Equity was fully attributable to Eversource parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest.
v3.19.2
COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS COMMON SHARES

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  
 
Shares
 
 
 
Authorized as of June 30, 2019 and December 31, 2018
 
Issued as of
 
Par Value
 
 
June 30, 2019
 
December 31, 2018
Eversource
$
5

 
380,000,000

 
339,858,402

 
333,878,402

CL&P
$
10

 
24,500,000

 
6,035,205

 
6,035,205

NSTAR Electric
$
1

 
100,000,000

 
200

 
200

PSNH
$
1

 
100,000,000

 
301

 
301



Common Share Issuance and Forward Sale Agreement: On June 4, 2019, Eversource completed an equity offering of 17,940,000 common shares, consisting of 5,980,000 common shares issued directly by the Company and 11,960,000 common shares issuable pursuant to a forward sale agreement with an investment bank. The issuance of 5,980,000 common shares resulted in proceeds of $426.9 million, net of issuance costs, and was reflected in shareholders’ equity and as a financing activity on the statement of cash flows.

Under the forward sale agreement, a total of 11,960,000 common shares were borrowed from third parties and sold to the underwriters. The forward sale agreement allows Eversource, at its election and prior to May 29, 2020, to physically settle the forward sale agreement by issuing common shares in exchange for net proceeds at the then-applicable forward sale price specified by the agreement (initially, $71.48 per share) or, alternatively, to settle the forward sale agreement in whole or in part through the delivery or receipt of shares or cash. The forward sale price is subject to adjustment daily based on a floating interest rate factor and will decrease in respect of certain fixed amounts specified in the agreement, such as dividends.

Eversource’s intent is to physically settle the forward sale agreement by issuing common shares. As of June 30, 2019, if Eversource had elected to net settle the forward sale agreement, Eversource would have been required to pay $50.2 million under a cash settlement or would have been required to deliver 662,694 common shares under a net share settlement.

Issuances of shares under the forward sale agreement are classified as equity transactions. Accordingly, no amounts relating to the forward sale agreement have or will be recorded in the financial statements until settlements take place. Prior to any settlements, the only impact to the financial statements is the inclusion of incremental shares within the calculation of diluted EPS using the treasury stock method. See Note 15, "Earnings Per Share," for information on the forward sale agreement’s impact on the calculation of diluted EPS.

Treasury Shares: As of June 30, 2019 and December 31, 2018, there were 16,283,963 and 16,992,594 Eversource common shares held as treasury shares, respectively. As of June 30, 2019 and December 31, 2018, Eversource common shares outstanding were 323,574,439 and 316,885,808, respectively.

Beginning in 2019, Eversource began issuing treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment plan, and matching contributions under the Eversource 401k Plan.
COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS

Dividends on the preferred stock of CL&P and NSTAR Electric totaled $1.9 million for each of the three months ended June 30, 2019 and 2018 and $3.8 million for each of the six months ended June 30, 2019 and 2018. These dividends were presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Noncontrolling Interest – Preferred Stock of Subsidiaries on the Eversource balance sheets totaled $155.6 million as of June 30, 2019 and December 31, 2018. On the Eversource balance sheets, Common Shareholders' Equity was fully attributable to Eversource parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest.
v3.19.2
EARNINGS PER SHARE
6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE

Basic EPS is computed based upon the weighted average number of common shares outstanding during each period.  Diluted EPS is computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect of certain share-based compensation awards and the equity forward sale agreement, as if they were converted into outstanding common shares.  The dilutive effect of unvested RSU and performance share awards, as well as the equity forward sale agreement, is calculated using the treasury stock method.  RSU and performance share awards are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied.  

As described in Note 13, "Common Shares," earnings per share dilution, if any, related to the forward sale agreement will be determined under the treasury stock method until settlement of the forward sale agreement. Under this method, the number of Eversource common shares used in calculating diluted EPS is deemed to be increased by the excess, if any, of the number of shares that would be issued upon physical settlement of the forward sale agreement less the number of shares that would be purchased by Eversource in the market (based on the average market price during the same reporting period) using the proceeds receivable upon settlement (based on the adjusted forward sale price at the end of that reporting period). Share dilution occurs when the average market price of Eversource's common shares is higher than the adjusted forward sale price.

The following table sets forth the components of basic and diluted EPS:
Eversource
(Millions of Dollars, except share information)
For the Three Months Ended
 
For the Six Months Ended
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Net Income Attributable to Common Shareholders
$
31.5

 
$
242.8

 
$
340.1

 
$
512.3

Weighted Average Common Shares Outstanding:
 
 
 
 
 
 
 
Basic
319,664,998

 
317,344,596

 
318,644,796

 
317,370,825

Dilutive Effect of:
 
 
 
 
 
 
 
Share-Based Compensation Awards and Other
645,450

 
540,591

 
668,470

 
568,269

Equity Forward Sale Agreement
78,042

 

 
39,021

 

Total Dilutive Effect
723,492

 
540,591

 
707,491

 
568,269

Diluted
320,388,490

 
317,885,187

 
319,352,287

 
317,939,094

Basic and Diluted EPS
$
0.10

 
$
0.76

 
$
1.07

 
$
1.61


v3.19.2
REVENUES
6 Months Ended
Jun. 30, 2019
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES

The following tables present operating revenues disaggregated by revenue source:
 
For the Three Months Ended June 30, 2019
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
805.0

 
$
100.2

 
$

 
$
33.6

 
$

 
$

 
$
938.8

Commercial
612.8

 
69.5

 

 
16.0

 

 
(0.9
)
 
697.4

Industrial
81.3

 
23.5

 

 
1.1

 

 
(2.8
)
 
103.1

Total Retail Tariff Sales Revenues
1,499.1


193.2

 

 
50.7



 
(3.7
)
 
1,739.3

Wholesale Transmission Revenues

 

 
281.2

 

 
14.7

 
(239.8
)
 
56.1

Wholesale Market Sales Revenues
39.4

 
14.4

 

 
0.9

 

 

 
54.7

Other Revenues from Contracts with Customers
15.1

 
0.4

 
3.7

 
1.8

 
236.1

 
(236.8
)
 
20.3

Reserve for Revenues Subject to Refund
(3.1
)
 
1.5

 

 
(0.6
)
 

 

 
(2.2
)
Total Revenues from Contracts with Customers
1,550.5


209.5

 
284.9

 
52.8


250.8

 
(480.3
)
 
1,868.2

Alternative Revenue Programs
6.3

 
(2.7
)
 
64.6

 
0.7

 

 
(58.8
)
 
10.1

Other Revenues (1)
5.0

 
0.9

 
0.1

 
0.2

 

 

 
6.2

Total Operating Revenues
$
1,561.8


$
207.7

 
$
349.6

 
$
53.7


$
250.8

 
$
(539.1
)
 
$
1,884.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended June 30, 2019
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
1,838.3

 
$
359.1

 
$

 
$
60.5

 
$

 
$

 
$
2,257.9

Commercial
1,265.3

 
213.3

 

 
30.3

 

 
(2.0
)
 
1,506.9

Industrial
163.4

 
54.4

 

 
2.2

 

 
(5.5
)
 
214.5

Total Retail Tariff Sales Revenues
3,267.0

 
626.8

 

 
93.0

 

 
(7.5
)
 
3,979.3

Wholesale Transmission Revenues

 

 
606.1

 

 
28.3

 
(510.7
)
 
123.7

Wholesale Market Sales Revenues
90.8

 
36.1

 

 
1.9

 

 

 
128.8

Other Revenues from Contracts with Customers
27.7

 
1.4

 
6.9

 
3.5

 
480.7

 
(482.2
)
 
38.0

Reserve for Revenues Subject to Refund
(6.1
)
 
3.1

 

 
(1.2
)
 

 

 
(4.2
)
Total Revenues from Contracts with Customers
3,379.4

 
667.4

 
613.0

 
97.2

 
509.0

 
(1,000.4
)
 
4,265.6

Alternative Revenue Programs
8.4

 
7.7

 
77.0

 
1.5

 

 
(69.8
)
 
24.8

Other Revenues (1)
7.8

 
1.5

 
0.1

 
0.5

 

 

 
9.9

Total Operating Revenues
$
3,395.6

 
$
676.6

 
$
690.1

 
$
99.2

 
$
509.0

 
$
(1,070.2
)
 
$
4,300.3


 
For the Three Months Ended June 30, 2018
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
794.4

 
$
104.1

 
$

 
$
32.3

 
$

 
$

 
$
930.8

Commercial
622.0

 
70.0

 

 
15.7

 

 
(2.0
)
 
705.7

Industrial
88.4

 
23.5

 

 
1.1

 

 
(2.4
)
 
110.6

Total Retail Tariff Sales Revenues
1,504.8

 
197.6

 

 
49.1

 

 
(4.4
)
 
1,747.1

Wholesale Transmission Revenues

 

 
310.8

 

 
12.6

 
(268.0
)
 
55.4

Wholesale Market Sales Revenues
34.2

 
12.1

 

 
0.9

 

 

 
47.2

Other Revenues from Contracts with Customers
18.4

 
(0.6
)
 
3.2

 
1.9

 
224.4

 
(225.1
)
 
22.2

Reserve for Revenues Subject to Refund
(7.3
)
 
(3.5
)
 

 
(0.5
)
 

 

 
(11.3
)
Total Revenues from Contracts with Customers
1,550.1

 
205.6

 
314.0

 
51.4

 
237.0

 
(497.5
)
 
1,860.6

Alternative Revenue Programs
(14.4
)
 
0.1

 
3.4

 
1.9

 

 
(2.9
)
 
(11.9
)
Other Revenues
4.2

 
0.8

 

 
0.2

 

 

 
5.2

Total Operating Revenues
$
1,539.9

 
$
206.5

 
$
317.4

 
$
53.5

 
$
237.0

 
$
(500.4
)
 
$
1,853.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended June 30, 2018
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
1,788.7

 
$
352.9

 
$

 
$
59.7

 
$

 
$

 
$
2,201.3

Commercial
1,233.4

 
204.7

 

 
30.0

 

 
(2.1
)
 
1,466.0

Industrial
169.9

 
53.1

 

 
2.1

 

 
(5.0
)
 
220.1

Total Retail Tariff Sales Revenues
3,192.0

 
610.7

 

 
91.8

 

 
(7.1
)
 
3,887.4

Wholesale Transmission Revenues

 

 
624.5

 

 
22.7

 
(526.7
)
 
120.5

Wholesale Market Sales Revenues
92.7

 
29.9

 

 
1.7

 

 

 
124.3

Other Revenues from Contracts with Customers
35.3

 
(0.9
)
 
6.2

 
3.7

 
445.2

 
(446.3
)
 
43.2

Reserve for Revenues Subject to Refund
(26.5
)
 
(8.0
)
 

 
(2.0
)
 

 

 
(36.5
)
Total Revenues from Contracts with Customers
3,293.5

 
631.7

 
630.7

 
95.2

 
467.9

 
(980.1
)
 
4,138.9

Alternative Revenue Programs
(5.7
)
 
(1.7
)
 
(8.3
)
 
2.6

 

 
7.7

 
(5.4
)
Other Revenues
6.7

 
1.4

 

 
0.2

 

 

 
8.3

Total Operating Revenues
$
3,294.5

 
$
631.4

 
$
622.4

 
$
98.0

 
$
467.9

 
$
(972.4
)
 
$
4,141.8

 
For the Three Months Ended June 30, 2019
 
For the Three Months Ended June 30, 2018
(Millions of Dollars)
CL&P
 
NSTAR Electric
 
PSNH
 
CL&P
 
NSTAR Electric
 
PSNH
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
Residential
$
402.8

 
$
282.3

 
$
119.9

 
$
387.1

 
$
292.5

 
$
114.8

Commercial
224.7

 
315.8

 
72.7

 
220.7

 
325.5

 
76.2

Industrial
33.8

 
28.9

 
18.6

 
36.5

 
30.9

 
21.0

Total Retail Tariff Sales Revenues
661.3

 
627.0

 
211.2

 
644.3

 
648.9

 
212.0

Wholesale Transmission Revenues
115.9

 
127.5

 
37.8

 
139.9

 
120.9

 
50.1

Wholesale Market Sales Revenues
12.1

 
17.2

 
10.1

 
10.6

 
13.4

 
10.9

Other Revenues from Contracts with Customers
9.1

 
6.1

 
4.2

 
8.3

 
9.3

 
3.9

Reserve for Revenues Subject to Refund

 

 
(3.1
)
 
(4.2
)
 

 
(3.1
)
Total Revenues from Contracts with Customers
798.4

 
777.8

 
260.2

 
798.9

 
792.5

 
273.8

Alternative Revenue Programs
55.1

 
2.1

 
13.7

 
1.0

 
(6.9
)
 
(5.0
)
Other Revenues (1)
2.7

 
1.9

 
0.5

 
2.4

 
1.6

 
0.2

Eliminations
(115.4
)
 
(99.9
)
 
(33.5
)
 
(107.4
)
 
(96.5
)
 
(33.9
)
Total Operating Revenues
$
740.8

 
$
681.9

 
$
240.9

 
$
694.9

 
$
690.7

 
$
235.1

 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2018
(Millions of Dollars)
CL&P
 
NSTAR Electric
 
PSNH
 
CL&P
 
NSTAR Electric
 
PSNH
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
Residential
$
913.4

 
$
653.2

 
$
271.7

 
$
870.4

 
$
656.7

 
$
261.6

Commercial
461.3

 
652.3

 
152.6

 
443.2

 
640.0

 
151.1

Industrial
68.4

 
57.8

 
37.2

 
72.3

 
59.0

 
38.6

Total Retail Tariff Sales Revenues
1,443.1

 
1,363.3

 
461.5

 
1,385.9

 
1,355.7

 
451.3

Wholesale Transmission Revenues
270.7

 
250.1

 
85.3

 
290.6

 
239.5

 
94.3

Wholesale Market Sales Revenues
25.8

 
41.6

 
23.4

 
21.0

 
38.2

 
34.9

Other Revenues from Contracts with Customers
18.0

 
10.1

 
7.8

 
16.2

 
18.3

 
7.5

Reserve for Revenues Subject to Refund

 

 
(6.1
)
 
(16.6
)
 
(3.7
)
 
(6.2
)
Total Revenues from Contracts with Customers
1,757.6

 
1,665.1

 
571.9

 
1,697.1

 
1,648.0

 
581.8

Alternative Revenue Programs
60.9

 
9.3

 
15.2

 
(4.1
)
 
(0.2
)
 
(9.6
)
Other Revenues (1)
3.7

 
3.4

 
0.8

 
3.3

 
2.7

 
0.6

Eliminations
(232.1
)
 
(198.3
)
 
(70.6
)
 
(216.4
)
 
(189.6
)
 
(70.3
)
Total Operating Revenues
$
1,590.1

 
$
1,479.5

 
$
517.3

 
$
1,479.9

 
$
1,460.9

 
$
502.5


(1)  
Other Revenues include certain fees charged to customers, which are not considered revenue from contracts with customers. Other revenues also includes lease revenues under lessor accounting guidance of $1.1 million at Eversource, $0.3 million at CL&P, and $0.7 million at NSTAR Electric for the three months ended June 30, 2019, and $2.2 million at Eversource, $0.5 million at CL&P, and $1.3 million at NSTAR Electric for the six months ended June 30, 2019, respectively.
v3.19.2
SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION

Eversource is organized into the Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution reportable segments and Other based on a combination of factors, including the characteristics of each segments' services, the sources of operating revenues and expenses and the regulatory environment in which each segment operates.  These reportable segments represent substantially all of Eversource's total consolidated revenues.  Revenues from the sale of electricity, natural gas and water primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer.  The Electric Distribution reportable segment includes the results of PSNH's generation facilities prior to sales in January and August 2018, and NSTAR Electric's solar power facilities. Eversource's reportable segments are determined based upon the level at which Eversource's chief operating decision maker assesses performance and makes decisions about the allocation of company resources.
 
The remainder of Eversource's operations is presented as Other in the tables below and primarily consists of 1) the equity in earnings of Eversource parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest expense related to the debt of Eversource parent, 2) the revenues and expenses of Eversource Service, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, 4) Eversource Water Ventures, Inc., parent company of Aquarion, and 5) the results of other unregulated subsidiaries, which are not part of its core business. In addition, Other in the tables below includes Eversource parent's equity ownership interests that are not consolidated, which include a natural gas pipeline project owned by Enbridge, Inc., the offshore wind business, a renewable energy investment fund, and two companies that transmit hydroelectricity imported from the Hydro-Quebec system in Canada. In the ordinary course of business, Yankee Gas and NSTAR Gas purchase natural gas transmission services from the Enbridge, Inc. natural gas pipeline project described above. These affiliate transaction costs total approximately $62.5 million annually and are classified as Purchased Power, Fuel and Transmission on the Eversource statements of income.

Each of Eversource's subsidiaries, including CL&P, NSTAR Electric and PSNH, has one reportable segment.

Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred but not paid, cost of removal, AFUDC related to equity funds, and the capitalized portions of pension and PBOP expense.   

Eversource's segment information is as follows:
 
For the Three Months Ended June 30, 2019
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Operating Revenues
$
1,561.8

 
$
207.7

 
$
349.6

 
$
53.7

 
$
250.8

 
$
(539.1
)
 
$
1,884.5

Depreciation and Amortization
(150.1
)
 
(19.5
)
 
(62.3
)
 
(12.0
)
 
(14.7
)
 
0.6

 
(258.0
)
Impairment of Northern Pass Transmission

 

 
(239.6
)
 

 

 

 
(239.6
)
Other Operating Expenses
(1,243.0
)
 
(179.8
)
 
(108.4
)
 
(25.0
)
 
(218.4
)
 
538.7

 
(1,235.9
)
Operating Income/(Loss)
$
168.7

 
$
8.4

 
$
(60.7
)
 
$
16.7

 
$
17.7

 
$
0.2

 
$
151.0

Interest Expense
$
(50.8
)
 
$
(11.9
)
 
$
(30.5
)
 
$
(8.6
)
 
$
(44.5
)
 
$
13.6

 
$
(132.7
)
Other Income/(Loss), Net
12.2

 
0.7

 
8.7

 
0.1

 
(114.9
)
 
139.1

 
45.9

Net Income/(Loss) Attributable to Common Shareholders
105.4

 
(1.8
)
 
(87.4
)
 
8.0

 
(145.6
)
 
152.9

 
31.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended June 30, 2019
Eversource
(Millions of Dollars)
Electric Distribution
 
Natural Gas Distribution
 
Electric Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Operating Revenues
$
3,395.6

 
$
676.6

 
$
690.1

 
$
99.2

 
$
509.0

 
$
(1,070.2
)
 
$
4,300.3

Depreciation and Amortization
(329.3
)
 
(39.9
)
 
(123.7
)
 
(23.9
)
 
(28.3
)
 
1.1

 
(544.0
)
Impairment of Northern Pass Transmission

 

 
(239.6
)
 

 

 

 
(239.6
)
Other Operating Expenses
(2,718.6
)
 
(521.1
)
 
(207.2
)
 
(49.9
)
 
(444.0
)
 
1,069.8

 
(2,871.0
)
Operating Income
$
347.7

 
$
115.6

 
$
119.6

 
$
25.4

 
$
36.7

 
$
0.7

 
$
645.7

Interest Expense
$
(100.0
)
 
$
(23.7
)
 
$
(61.0
)
 
$
(17.2
)
 
$
(88.6
)
 
$
26.1

 
$
(264.4
)
Other Income, Net
30.4

 
1.0

 
16.8

 
0.4

 
316.8

 
(288.5
)
 
76.9

Net Income Attributable to Common Shareholders
225.4

 
74.7

 
30.9

 
8.8

 
262.0

 
(261.7
)
 
340.1

Cash Flows Used for Investments in Plant
571.3

 
202.7

 
449.2

 
51.4

 
103.2

 

 
1,377.8

 
For the Three Months Ended June 30, 2018
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Operating Revenues
$
1,539.9

 
$
206.5

 
$
317.4

 
$
53.5

 
$
237.0

 
$
(500.4
)
 
$
1,853.9

Depreciation and Amortization
(135.5
)
 
(19.3
)
 
(57.0
)
 
(12.2
)
 
(11.9
)
 
0.6

 
(235.3
)
Other Operating Expenses
(1,233.0
)
 
(170.6
)
 
(88.8
)
 
(24.5
)
 
(211.7
)
 
501.4

 
(1,227.2
)
Operating Income
$
171.4

 
$
16.6

 
$
171.6

 
$
16.8

 
$
13.4

 
$
1.6

 
$
391.4

Interest Expense
$
(52.1
)
 
$
(11.4
)
 
$
(30.0
)
 
$
(8.6
)
 
$
(32.3
)
 
$
8.0

 
$
(126.4
)
Other Income/(Loss), Net
19.0

 
1.6

 
9.9

 
(0.6
)
 
302.0

 
(281.8
)
 
50.1

Net Income Attributable to Common Shareholders
101.3

 
5.0

 
112.7

 
7.2

 
288.8

 
(272.2
)
 
242.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended June 30, 2018
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Operating Revenues
$
3,294.5

 
$
631.4

 
$
622.4

 
$
98.0

 
$
467.9

 
$
(972.4
)
 
$
4,141.8

Depreciation and Amortization
(279.9
)
 
(45.7
)
 
(113.5
)
 
(22.9
)
 
(23.9
)
 
1.1

 
(484.8
)
Other Operating Expenses
(2,676.5
)
 
(483.2
)
 
(172.0
)
 
(48.4
)
 
(416.3
)
 
973.3

 
(2,823.1
)
Operating Income
$
338.1

 
$
102.5

 
$
336.9

 
$
26.7

 
$
27.7

 
$
2.0

 
$
833.9

Interest Expense
$
(99.5
)
 
$
(22.5
)
 
$
(59.7
)
 
$
(16.9
)
 
$
(64.3
)
 
$
15.4

 
$
(247.5
)
Other Income/(Loss), Net
38.6

 
3.5

 
17.8

 
(1.1
)
 
662.1

 
(637.0
)
 
83.9

Net Income Attributable to Common Shareholders
205.5

 
62.8

 
220.1

 
8.7

 
634.8

 
(619.6
)
 
512.3

Cash Flows Used for Investments in Plant
475.6

 
150.3

 
508.5

 
40.2

 
77.1

 

 
1,251.7


The following table summarizes Eversource's segmented total assets:
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
As of June 30, 2019
$
21,628.8

 
$
4,031.3

 
$
10,499.7

 
$
2,290.5

 
$
18,550.4

 
$
(18,004.8
)
 
$
38,995.9

As of December 31, 2018
21,389.1

 
3,904.9

 
10,285.0

 
2,253.0

 
17,874.2

 
(17,464.9
)
 
38,241.3


For further information regarding the 2019 impairment of NPT, see Note 1C, "Summary of Significant Accounting Policies - Impairment of Northern Pass Transmission," to the financial statements.
v3.19.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Basis of Presentation Basis of Presentation
Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas and NSTAR Gas (natural gas utilities) and Aquarion (water utilities).  Eversource provides energy delivery and/or water service to approximately four million electric, natural gas and water customers through eight regulated utilities in Connecticut, Massachusetts and New Hampshire.

The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries.  Intercompany transactions have been eliminated in consolidation.  The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements."

The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC.  Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations.  The accompanying financial statements should be read in conjunction with the Combined Notes to Financial Statements included in Item 8, "Financial Statements and Supplementary Data," of the Eversource 2018 Form 10-K, which was filed with the SEC on February 26, 2019. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of June 30, 2019 and December 31, 2018, and the results of operations, comprehensive income and common shareholders' equity for the three and six months ended June 30, 2019 and 2018, and the cash flows for the six months ended June 30, 2019 and 2018. The results of operations and comprehensive income for the three and six months ended June 30, 2019 and 2018 and the cash flows for the six months ended June 30, 2019 and 2018 are not necessarily indicative of the results expected for a full year.  

Eversource consolidates CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent.  Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements.

Eversource's utility subsidiaries' electric, natural gas and water distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information.

Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation.
Accounting Standards Accounting Standards
Accounting Standards Issued but Not Yet Effective: In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses (Topic 326), which provides a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. Under the new guidance, immediate recognition of all credit losses expected over the life of a financial instrument is required. The new standard also revises the other-than-temporary impairment model for available-for-sale debt securities. The standard is effective January 1, 2020, and requires a modified retrospective transition approach through a cumulative-effect adjustment to retained earnings. The Company is assessing the impacts of this standard on the accounting for credit losses on its financial instruments, including accounts receivable.

Accounting Standards Recently Adopted: On January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842), which amended existing lease accounting guidance. The Company applied the Topic 842 lease criteria to new leases and lease renewals entered into effective on or after January 1, 2019.  The ASU required balance sheet recognition of leases deemed to be operating leases as well as additional disclosure requirements.  The recognition, measurement and presentation of expenses and cash flows were not significantly changed.

The Company also adopted the modified retrospective transition method allowed in ASU 2018-11, Leases (Topic 842) - Targeted Improvements, which allowed the Company to adopt the new leases standard as of January 1, 2019, with prior periods presented in the financial statements continuing to follow existing lease accounting guidance under Topic 840 (Leases) in the accounting literature.  Implementation of ASU 2018-11 had no effect on retained earnings, and the requirements of the new lease standard (Topic 842) are reflected in the 2019 financial statements and footnotes.

The Company elected the practical expedient package whereby it did not need to reassess whether or not an existing contract is or contains a lease or whether a lease is an operating or capital lease, and it did not need to reassess initial direct costs for leases. Election of this practical expedient allowed us to carry forward our historical lease classifications. The Company elected the practical expedient to not reevaluate land easements existing at adoption if they were not previously accounted for as leases. The Company also elected to use the discount rate as of the January 1, 2019 implementation date to discount its operating lease liabilities. The Company did not elect the hindsight practical expedient to determine the lease term for existing leases.

The Company determined the impact the ASUs had on its financial statements by reviewing its lease population and identifying lease data needed for the disclosure requirements. The Company implemented a new lease accounting system in 2019 to ensure ongoing compliance with the ASU’s requirements. Adoption of the new standard resulted in the recording of operating lease liabilities and right-of-use assets on the balance sheet upon transition at January 1, 2019 of $58.0 million at Eversource, $25.3 million at NSTAR Electric, $0.6 million at CL&P, and $0.6 million at PSNH. Implementation of the new guidance did not have an impact on each company’s results of operations or cash flows.
Provision for Uncollectible Accounts Provision for Uncollectible Accounts
Eversource, including CL&P, NSTAR Electric and PSNH, presents its receivables at estimated net realizable value by maintaining a provision for uncollectible accounts.  This provision is determined based upon a variety of judgments and factors, including the application of an estimated uncollectible percentage to each receivable aging category.  The estimate is based upon historical collection and write-off experience and management's assessment of collectability from customers.  Management continuously assesses the collectability of receivables and adjusts collectability estimates based on actual experience.  Receivable balances are written off against the provision for uncollectible accounts when the customer accounts are terminated and these balances are deemed to be uncollectible.

The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 180 days and 90 days, respectively.  The DPU allows NSTAR Electric and NSTAR Gas to recover in rates amounts associated with certain uncollectible hardship accounts receivable. These uncollectible hardship customer account balances are included in Regulatory Assets or Other Long-Term Assets on the balance sheets.

Fair Value Measurements Fair Value Measurements
Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases" or "normal sales" ("normal") and to the marketable securities held in trusts.  Fair value measurement guidance is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans, the nonrecurring fair value measurements of nonfinancial assets such as goodwill and AROs, and the estimated fair value of preferred stock, long-term debt and RRBs.

Fair Value Hierarchy:  In measuring fair value, Eversource uses observable market data when available in order to minimize the use of unobservable inputs.  Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes.  The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement.  Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis, and Eversource's policy is to recognize transfers between levels of the fair value hierarchy as of the end of the reporting period.  The three levels of the fair value hierarchy are described below:

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date.  Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.  

Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable.

Level 3 - Quoted market prices are not available.  Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable.  Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products.  

Uncategorized - Investments that are measured at net asset value are not categorized within the fair value hierarchy.

Other Taxes
As agents for state and local governments, Eversource's companies that serve customers in Connecticut and Massachusetts collect certain sales taxes that are recorded on a net basis with no impact on the statements of income.   

Separate from above are amounts recorded as Taxes Other than Income Taxes related to the future remittance to the State of Connecticut of energy efficiency funds collected from customers in Operating Revenues. These amounts are $10.7 million and $21.4 million for the three and six months ended June 30, 2019, respectively, and $12.7 million and $25.4 million for the three and six months ended June 30, 2018, respectively. These amounts are recorded separately, with collections in Operating Revenues and with payments in Taxes Other than Income Taxes on the Eversource and CL&P statements of income.  

Other TaxesEversource's companies that serve customers in Connecticut collect gross receipts taxes levied by the state of Connecticut from their customers.
Restricted Cash Restricted cash included in Prepayments and Other Current Assets primarily represents cash collections related to the PSNH RRB customer charges that are held in trust, and required ISO-NE cash deposits. Restricted cash included in Marketable Securities represents money market funds held in trusts to fund certain non-qualified executive benefits and restricted trusts to fund CYAPC and YAEC's spent nuclear fuel storage facilities obligations.
Earnings Per Share

Basic EPS is computed based upon the weighted average number of common shares outstanding during each period.  Diluted EPS is computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect of certain share-based compensation awards and the equity forward sale agreement, as if they were converted into outstanding common shares.  The dilutive effect of unvested RSU and performance share awards, as well as the equity forward sale agreement, is calculated using the treasury stock method.  RSU and performance share awards are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied.  

As described in Note 13, "Common Shares," earnings per share dilution, if any, related to the forward sale agreement will be determined under the treasury stock method until settlement of the forward sale agreement. Under this method, the number of Eversource common shares used in calculating diluted EPS is deemed to be increased by the excess, if any, of the number of shares that would be issued upon physical settlement of the forward sale agreement less the number of shares that would be purchased by Eversource in the market (based on the average market price during the same reporting period) using the proceeds receivable upon settlement (based on the adjusted forward sale price at the end of that reporting period). Share dilution occurs when the average market price of Eversource's common shares is higher than the adjusted forward sale price.
v3.19.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Provision for Uncollectible Accounts The provision balances are as follows:
 
Total Provision for Uncollectible Accounts
 
Provision for Uncollectible Hardship Accounts
(Millions of Dollars)
As of June 30, 2019
 
As of December 31, 2018
 
As of June 30, 2019
 
As of December 31, 2018
Eversource
$
226.4

 
$
212.7

 
$
137.9

 
$
131.5

CL&P
88.7

 
88.0

 
70.9

 
71.9

NSTAR Electric
81.8

 
74.5

 
47.7

 
42.5

PSNH
11.2

 
11.1

 

 



Uncollectible expense associated with customers' accounts receivable included in Operations and Maintenance expense on the statements of income is as follows:
 
For the Three Months Ended
 
For the Six Months Ended
(Millions of Dollars)
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Eversource
$
13.0

 
$
9.5

 
$
31.5

 
$
29.3

CL&P
3.5

 
3.8

 
7.6

 
7.7

NSTAR Electric
5.7

 
3.8

 
11.6

 
11.3

PSNH
1.4

 
1.5

 
3.1

 
3.2


Components of Other Income, Net
The components of Other Income, Net on the statements of income were as follows:
 
For the Three Months Ended
 
June 30, 2019
 
June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Pension, SERP and PBOP Non-Service
   Income/(Expense) Components
$
5.8

 
$
(0.9
)
 
$
5.4

 
$
1.5

 
$
14.6

 
$
2.4

 
$
9.5

 
$
2.1

AFUDC Equity
13.1

 
3.2

 
5.1

 
0.9

 
10.9

 
3.3

 
3.9

 

Equity in Earnings (1)
25.9

 
0.1

 
0.2

 

 
22.9

 

 
0.4

 

Investment Income/(Loss)
(0.6
)
 
(0.1
)
 
(0.3
)
 
(0.1
)
 
(0.3
)
 
0.4

 
0.3

 

Interest Income
1.3

 
0.5

 
0.2

 
0.7

 
1.9

 
1.0

 
0.2

 
1.3

Other
0.4

 
0.1

 
0.1

 

 
0.1

 

 

 

Total Other Income, Net
$
45.9

 
$
2.9

 
$
10.7

 
$
3.0

 
$
50.1

 
$
7.1

 
$
14.3

 
$
3.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended
 
June 30, 2019
 
June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Pension, SERP and PBOP Non-Service
   Income/(Expense) Components
$
13.1

 
$
(1.6
)
 
$
12.4

 
$
2.0

 
$
29.8

 
$
5.3

 
$
17.9

 
$
4.4

AFUDC Equity
24.1

 
5.8

 
9.1

 
1.1

 
20.6

 
6.1

 
7.3

 

Equity in Earnings (1)
30.9

 
0.1

 
0.4

 

 
27.5

 

 
0.4

 

Investment Income/(Loss)
0.6

 
1.7

 
(0.6
)
 
0.2

 
0.4

 
0.2

 
0.9

 
0.1

Interest Income (2)
7.8

 
0.8

 
0.4

 
6.6

 
5.4

 
2.0

 
0.4

 
3.7

Other
0.4

 
(0.1
)
 

 
0.1

 
0.2

 

 

 

Total Other Income, Net
$
76.9

 
$
6.7

 
$
21.7

 
$
10.0

 
$
83.9

 
$
13.6

 
$
26.9

 
$
8.2


(1) Equity in earnings includes $20.4 million of unrealized gains associated with an investment in a renewable energy fund for both the three and six months ended June 30, 2019. For both the three and six months ended June 30, 2018, unrealized gains on this investment totaled $17.6 million.

(2) See Note 2, "Regulatory Accounting" for interest income recognized in 2019 for the equity return component of carrying charges on storm costs at PSNH.

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 Three Months Ended
 
For the Six Months Ended
(Millions of Dollars)
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Eversource
$
36.4

 
$
35.6

 
$
81.4

 
$
79.0

CL&P
31.8

 
31.5

 
68.0

 
67.1


Non-cash Investing Activities
Non-cash investing activities include plant additions included in Accounts Payable as follows:
(Millions of Dollars)
As of June 30, 2019
 
As of June 30, 2018
Eversource
$
323.7

 
$
305.7

CL&P
114.0

 
110.9

NSTAR Electric
85.2

 
71.1

PSNH
29.9

 
46.6


Reconciliation of Cash Balances to Cash and Restricted Cash
The following table reconciles cash as reported on the balance sheets to the cash and restricted cash balance as reported on the statements of cash flows:
 
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Cash as reported on the Balance Sheets
$
20.6

 
$
2.2

 
$
0.2

 
$
0.3

 
$
108.1

 
$
87.7

 
$
1.6

 
$
1.4

Restricted cash included in:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Prepayments and Other Current Assets
54.1

 
4.6

 
6.1

 
35.0

 
72.1

 
3.5

 
13.0

 
47.5

Marketable Securities
20.5

 
0.3

 
0.1

 
0.6

 
25.9

 
0.4

 
0.1

 
0.6

Other Long-Term Assets
72.0

 

 

 
3.2

 
3.2

 

 

 
3.2

Cash and Restricted Cash reported on the
   Statements of Cash Flows
$
167.2

 
$
7.1

 
$
6.4

 
$
39.1

 
$
209.3

 
$
91.6

 
$
14.7

 
$
52.7


v3.19.2
REGULATORY ACCOUNTING (Tables)
6 Months Ended
Jun. 30, 2019
Regulated Operations [Abstract]  
Components of Regulatory Assets The components of regulatory assets were as follows:
 
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
Benefit Costs
$
1,870.5

 
$
407.4

 
$
554.8

 
$
151.1

 
$
1,914.8

 
$
424.7

 
$
544.4

 
$
169.6

Income Taxes, Net
702.6

 
456.5

 
104.1

 
10.1

 
728.6

 
454.4

 
105.9

 
8.3

Securitized Stranded Costs
586.9

 

 

 
586.9

 
608.4

 

 

 
608.4

Storm Restoration Costs, Net
536.7

 
279.6

 
191.2

 
65.9

 
576.0

 
302.6

 
212.9

 
60.5

Regulatory Tracker Mechanisms
289.0

 
60.3

 
138.2

 
70.6

 
316.0

 
33.2

 
169.1

 
67.3

Derivative Liabilities
347.9

 
345.4

 

 

 
356.5

 
356.5

 

 

Goodwill-related
340.0

 

 
291.9

 

 
348.4

 

 
299.1

 

Asset Retirement Obligations
97.1

 
33.3

 
48.3

 
3.5

 
89.2

 
32.3

 
42.2

 
3.3

Other Regulatory Assets
148.8

 
26.0

 
60.5

 
17.7

 
208.0

 
27.0

 
64.6

 
12.1

Total Regulatory Assets
4,919.5

 
1,608.5


1,389.0


905.8


5,145.9

 
1,630.7


1,438.2


929.5

Less:  Current Portion
515.3

 
175.7

 
210.0

 
77.9

 
514.8

 
125.2

 
241.7

 
67.2

Total Long-Term Regulatory Assets
$
4,404.2

 
$
1,432.8


$
1,179.0


$
827.9


$
4,631.1

 
$
1,505.5


$
1,196.5


$
862.3


Components of Regulatory Liabilities The components of regulatory liabilities were as follows:
 
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
EDIT due to Tax Cuts and Jobs Act
$
2,860.7

 
$
1,028.7

 
$
1,090.0

 
$
395.4

 
$
2,883.0

 
$
1,031.0

 
$
1,103.7

 
$
396.4

Cost of Removal
544.9

 
51.0

 
319.4

 
21.4

 
521.0

 
39.9

 
307.1

 
22.1

Benefit Costs
83.8

 

 
70.9

 

 
91.2

 

 
76.9

 

Regulatory Tracker Mechanisms
333.3

 
110.0

 
141.9

 
31.2

 
309.0

 
89.5

 
163.7

 
48.3

AFUDC - Transmission
71.7

 
46.7

 
25.0

 

 
70.7

 
47.4

 
23.3

 

Revenue Subject to Refund due to Tax Cuts
  and Jobs Act
29.2

 

 

 
19.1

 
24.6

 

 

 
12.6

Other Regulatory Liabilities
96.1

 
29.4

 
38.6

 
4.1

 
80.2

 
24.0

 
29.2

 
4.2

Total Regulatory Liabilities
4,019.7

 
1,265.8


1,685.8


471.2


3,979.7

 
1,231.8


1,703.9


483.6

Less:  Current Portion
379.9

 
112.4

 
171.0

 
54.2

 
370.2

 
109.6

 
190.6

 
55.5

Total Long-Term Regulatory Liabilities
$
3,639.8

 
$
1,153.4


$
1,514.8


$
417.0


$
3,609.5

 
$
1,122.2


$
1,513.3


$
428.1



v3.19.2
PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION (Tables)
6 Months Ended
Jun. 30, 2019
Property, Plant and Equipment [Abstract]  
Public Utility Property, Plant, and Equipment

The following tables summarize property, plant and equipment by asset category:
Eversource
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
 
Distribution - Electric
$
15,472.1

 
$
15,071.1

Distribution - Natural Gas
3,632.9

 
3,546.2

Transmission - Electric
10,449.5

 
10,153.9

Distribution - Water
1,664.1

 
1,639.8

Solar
196.9

 
164.1

Utility
31,415.5

 
30,575.1

Other (1)
882.4

 
778.6

Property, Plant and Equipment, Gross
32,297.9

 
31,353.7

Less:  Accumulated Depreciation
 
 
 
Utility   
(7,357.9
)
 
(7,126.2
)
Other
(363.1
)
 
(336.7
)
Total Accumulated Depreciation
(7,721.0
)
 
(7,462.9
)
Property, Plant and Equipment, Net
24,576.9

 
23,890.8

Construction Work in Progress
1,727.5

 
1,719.6

Total Property, Plant and Equipment, Net
$
26,304.4

 
$
25,610.4


 
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
CL&P
 
NSTAR
Electric
 
PSNH
 
CL&P
 
NSTAR
Electric
 
PSNH
Distribution - Electric
$
6,352.8

 
$
6,921.3

 
$
2,238.3

 
$
6,176.4

 
$
6,756.4

 
$
2,178.6

Transmission - Electric
4,880.6

 
4,148.8

 
1,415.2

 
4,700.5

 
4,065.9

 
1,338.7

Solar

 
196.9

 

 

 
164.1

 

Property, Plant and Equipment, Gross
11,233.4

 
11,267.0

 
3,653.5

 
10,876.9

 
10,986.4

 
3,517.3

Less:  Accumulated Depreciation
(2,352.2
)
 
(2,814.9
)
 
(806.4
)
 
(2,302.6
)
 
(2,702.0
)
 
(772.9
)
Property, Plant and Equipment, Net
8,881.2

 
8,452.1

 
2,847.1

 
8,574.3

 
8,284.4

 
2,744.4

Construction Work in Progress
404.4

 
623.7

 
122.2

 
335.4

 
510.3

 
135.7

Total Property, Plant and Equipment, Net
$
9,285.6

 
$
9,075.8

 
$
2,969.3

 
$
8,909.7

 
$
8,794.7

 
$
2,880.1



(1) 
These assets are primarily comprised of building improvements, computer software, hardware and equipment at Eversource Service.
v3.19.2
DERIVATIVE INSTRUMENTS (Tables)
6 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Gross Fair Values and Net Amounts of Contracts The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:
 
 
 
As of June 30, 2019
 
As of December 31, 2018
(Millions of Dollars)
Fair Value Hierarchy
 
Commodity Supply and Price Risk
Management
 
Netting (1)
 
Net Amount
Recorded as a Derivative
 
Commodity Supply and Price Risk
Management
 
Netting (1)
 
Net Amount
Recorded as
a Derivative
Current Derivative Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
CL&P
Level 3
 
$
11.1

 
$
(0.3
)
 
$
10.8

 
$
9.6

 
$
(3.4
)
 
$
6.2

Other
Level 2
 

 

 

 
1.5

 
(0.9
)
 
0.6

Long-Term Derivative Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
CL&P
Level 3
 
71.8

 
(2.2
)
 
69.6

 
74.2

 
(2.3
)
 
71.9

Current Derivative Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
CL&P
Level 3
 
(62.1
)
 

 
(62.1
)
 
(55.1
)
 

 
(55.1
)
Other
Level 2
 
(2.4
)
 

 
(2.4
)
 

 

 

Long-Term Derivative Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
CL&P
Level 3
 
(363.7
)
 

 
(363.7
)
 
(379.5
)
 

 
(379.5
)
Other
Level 2
 
(0.1
)
 

 
(0.1
)
 

 

 


(1) 
Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets.  These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.
Summary of Level 3 Derivative Contracts and Significant Observable Inputs Used
The following is a summary of Level 3 derivative contracts and the range of the significant unobservable inputs utilized in the valuations over the duration of the contracts:
 
As of June 30, 2019
 
As of December 31, 2018
CL&P
Range
 
Period Covered
 
Range
 
Period Covered
Capacity Prices
$
4.30

 
 
7.34

 
per kW-Month
 
2023 - 2026
 
$
4.30

 
 
7.44

 
per kW-Month
 
2022 - 2026
Forward Reserve
0.75

 
 
1.78

 
per kW-Month
 
2019 - 2024
 
0.75

 
 
1.78

 
per kW-Month
 
2019 - 2024

Changes in the Level 3 Category of Derivative Assets Measured at Fair Value on a Recurring Basis The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis.  The derivative assets and liabilities are presented on a net basis.
CL&P
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
(Millions of Dollars)
2019
 
2018
 
2019
 
2018
Derivatives, Net:
 
 
 
 
 
 
 
Fair Value as of Beginning of Period
$
(353.1
)
 
$
(386.5
)
 
$
(356.5
)
 
$
(362.3
)
Net Realized/Unrealized (Losses)/Gains Included
  in Regulatory Assets
(2.5
)
 
8.6

 
(7.8
)
 
(28.2
)
Settlements
10.2

 
8.6

 
18.9

 
21.2

Fair Value as of End of Period
$
(345.4
)
 
$
(369.3
)
 
$
(345.4
)
 
$
(369.3
)

v3.19.2
MARKETABLE SECURITIES (Tables)
6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-Sale Debt Securities The following is a summary of the available-for-sale debt securities, which are recorded at fair value and are included in current and long-term Marketable Securities on the balance sheets.
 
As of June 30, 2019
 
As of December 31, 2018
Eversource
(Millions of Dollars)
Amortized Cost
 
Pre-Tax
Unrealized Gains
 
Pre-Tax
Unrealized
Losses
 
Fair Value
 
Amortized Cost
 
Pre-Tax
Unrealized Gains
 
Pre-Tax
Unrealized
Losses
 
Fair Value
Debt Securities
$
204.3

 
$
5.4

 
$
(0.1
)
 
$
209.6

 
$
190.0

 
$
0.4

 
$
(4.0
)
 
$
186.4


Contractual Maturities of Available-for-Sale Debt Securities
As of June 30, 2019, the contractual maturities of available-for-sale debt securities were as follows:  
Eversource
(Millions of Dollars)
Amortized Cost
 
Fair Value
Less than one year (1)
$
26.9

 
$
26.9

One to five years
48.8

 
49.6

Six to ten years
38.4

 
40.0

Greater than ten years
90.2

 
93.1

Total Debt Securities
$
204.3

 
$
209.6


(1) 
Amounts in the Less than one year category include securities in the CYAPC and YAEC spent nuclear fuel trusts, which are restricted and are classified in long-term Marketable Securities on the balance sheets.
Marketable Securities Recorded at Fair Value on a Recurring Basis by Level The following table presents the marketable securities recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy:
Eversource
(Millions of Dollars)
As of June 30, 2019
 
As of December 31, 2018
Level 1:  
 
 
 
Mutual Funds and Equities
$
203.7

 
$
244.0

Money Market Funds
20.5

 
25.9

Total Level 1
$
224.2

 
$
269.9

Level 2:
 
 
 
U.S. Government Issued Debt Securities (Agency and Treasury)
$
107.0

 
$
79.6

Corporate Debt Securities
46.1

 
39.5

Asset-Backed Debt Securities
13.4

 
14.0

Municipal Bonds
12.8

 
19.2

Other Fixed Income Securities
9.8

 
8.2

Total Level 2
$
189.1

 
$
160.5

Total Marketable Securities
$
413.3

 
$
430.4


v3.19.2
SHORT-TERM AND LONG-TERM DEBT (Tables)
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Borrowings Outstanding and Available under the Commecrial Paper Programs
The amount of borrowings outstanding and available under the commercial paper programs were as follows:
 
Borrowings Outstanding as of
 
Available Borrowing Capacity as of
 
Weighted-Average Interest Rate as of
 
June 30, 2019
 
December 31, 2018
 
June 30, 2019
 
December 31, 2018
 
June 30, 2019
 
December 31, 2018
(Millions of Dollars)
 
 
 
 
 
Eversource Parent Commercial Paper Program
$
566.0

 
$
631.5

 
$
884.0

 
$
818.5

 
2.55
%
 
2.77
%
NSTAR Electric Commercial Paper Program
163.0

 
278.5

 
487.0

 
371.5

 
2.42
%
 
2.50
%

Summary of Long-Term Debt Issuance and Repayments The following table summarizes long-term debt issuances and repayments:
(Millions of Dollars)
Issue Date
 
Issuance/(Repayment)
 
Maturity Date
 
Use of Proceeds for Issuance/
Repayment Information
CL&P:
 
 
 
 
 
 
 
4.00% 2018 Series A First Mortgage Bonds (1)
April 2019
 
$
300.0

 
April 2048
 
Repaid short-term borrowings that were used to repay long-term debt that matured on February 1, 2019 and fund capital expenditures and working capital
5.50% 2009 Series A First Mortgage Bonds
February 2009
 
(250.0
)
 
February 2019
 
Repaid at maturity on February 1, 2019
NSTAR Electric:
 
 
 
 
 
 
 
3.25% 2019 Debentures
May 2019
 
400.0

 
May 2029
 
Repaid short-term borrowings that were used to fund investments in eligible green expenditures
PSNH:
 
 
 
 
 
 
 
3.60% 2019 Series T First Mortgage Bonds
June 2019
 
300.0

 
July 2049
 
Repay long-term debt due to mature in December 2019, repaid short-term borrowings and fund capital expenditures and working capital
Other:
 
 
 
 
 
 
 
NSTAR Gas 3.74% Series Q First Mortgage Bonds
July 2019
 
75.0

 
August 2049
 
Repaid short-term borrowings and fund capital expenditures and working capital

(1) 
These bonds are part of the same series issued by CL&P in March 2018. The aggregate outstanding principal amount of these bonds is now $800 million.
v3.19.2
RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES (Tables)
6 Months Ended
Jun. 30, 2019
Rate Reduction Bonds and Variable Interest Entity [Abstract]  
Summary of the Impact of Funding on the Balance Sheets and Income Statements The following tables summarize the impact of PSNH Funding on PSNH's balance sheets and income statements:
(Millions of Dollars)
 
 
 
Balance Sheet:
As of June 30, 2019
 
As of December 31, 2018
Restricted Cash - Current Portion (included in Prepayments and Other Current Assets)
$
35.0

 
$
47.5

Restricted Cash - Long-Term Portion (included in Other Long-Term Assets)
3.2

 
3.2

Securitized Stranded Costs (included in Regulatory Assets)
586.9

 
608.4

Other Regulatory Liabilities (included in Regulatory Liabilities)
7.9

 
5.8

Accrued Interest (included in Other Current Liabilities)
8.9

 
14.4

Rate Reduction Bonds - Current Portion
43.2

 
52.3

Rate Reduction Bonds - Long-Term Portion
561.7

 
583.3

(Millions of Dollars)
For the Three Months Ended
 
For the Six Months Ended
Income Statement:
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Amortization of RRB Principal (included in Amortization of Regulatory Assets, Net)
$
10.8

 
$
6.8

 
$
21.5

 
$
6.8

Interest Expense on RRB Principal (included in Interest Expense)
5.3

 
2.8

 
10.7

 
2.8


v3.19.2
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION (Tables)
6 Months Ended
Jun. 30, 2019
Postemployment Benefits [Abstract]  
Components of Net Periodic Benefit Expense/(Income)
The components of net periodic benefit expense/(income) for the Pension, SERP and PBOP Plans, prior to amounts capitalized as Property, Plant and Equipment or deferred as regulatory assets for future recovery, are shown below.  The service cost component of net periodic benefit expense, less the capitalized portion, is included in Operations and Maintenance expense on the statements of income. The remaining components of net periodic benefit expense/(income), less the deferred portion, are included in Other Income, Net on the statements of income. Pension, SERP and PBOP expense reflected in the statements of cash flows for CL&P, NSTAR Electric and PSNH does not include the intercompany allocations or the corresponding capitalized and deferred portion, as these amounts are cash settled on a short-term basis.
 
Pension and SERP
 
For the Three Months Ended June 30, 2019
 
For the Three Months Ended June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Service Cost
$
16.1

 
$
4.4

 
$
3.6

 
$
1.5

 
$
20.7

 
$
5.2

 
$
4.3

 
$
2.7

Interest Cost
54.8

 
11.4

 
12.3

 
6.0

 
49.1

 
10.5

 
10.9

 
5.5

Expected Return on Pension Plan Assets
(91.7
)
 
(18.1
)
 
(24.2
)
 
(10.1
)
 
(97.9
)
 
(19.4
)
 
(26.6
)
 
(10.8
)
Actuarial Loss
35.6

 
6.3

 
11.8

 
2.3

 
35.7

 
7.1

 
10.1

 
3.3

Prior Service Cost
0.3

 

 

 

 
2.1

 
0.2

 
0.1

 
0.1

Total Net Periodic Benefit Expense/(Income)
$
15.1

 
$
4.0

 
$
3.5

 
$
(0.3
)
 
$
9.7

 
$
3.6

 
$
(1.2
)
 
$
0.8

Intercompany Allocations
N/A

 
$
5.8

 
$
5.3

 
$

 
N/A

 
$
1.5

 
$
1.6

 
$
0.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension and SERP
 
For the Six Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Service Cost
$
35.4

 
$
9.2

 
$
7.5

 
$
4.1

 
$
43.1

 
$
11.0

 
$
9.0

 
$
5.7

Interest Cost
109.1

 
23.0

 
24.2

 
12.2

 
97.8

 
20.9

 
21.7

 
10.9

Expected Return on Pension Plan Assets
(183.8
)
 
(36.9
)
 
(48.6
)
 
(20.4
)
 
(195.8
)
 
(40.2
)
 
(51.8
)
 
(21.8
)
Actuarial Loss
72.1

 
14.3

 
21.2

 
5.9

 
71.8

 
14.8

 
20.7

 
6.5

Prior Service Cost
0.6

 

 
0.1

 

 
4.1

 
0.6

 
0.1

 
0.2

Total Net Periodic Benefit Expense/(Income)
$
33.4

 
$
9.6

 
$
4.4

 
$
1.8

 
$
21.0

 
$
7.1

 
$
(0.3
)
 
$
1.5

Intercompany Allocations
N/A

 
$
13.6

 
$
8.4

 
$
2.5

 
N/A

 
$
3.0

 
$
3.2

 
$
1.0


 
PBOP
 
For the Three Months Ended June 30, 2019
 
For the Three Months Ended June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
Service Cost
$
1.8

 
$
0.3

 
$
0.4

 
$
0.1

 
$
2.5

 
$
0.4

 
$
0.5

 
$
0.3

Interest Cost
8.2

 
1.6

 
2.4

 
0.8

 
6.8

 
1.5

 
2.2

 
0.9

Expected Return on Plan Assets
(16.8
)
 
(2.3
)
 
(7.5
)
 
(1.3
)
 
(16.7
)
 
(2.6
)
 
(8.1
)
 
(1.5
)
Actuarial Loss
1.6

 
0.3

 
0.7

 

 
1.6

 
0.4

 
0.4

 
0.2

Prior Service Cost/(Credit)
(5.8
)
 
0.3

 
(4.2
)
 
0.1

 
(5.7
)
 
0.3

 
(4.3
)
 
0.1

Total Net Periodic Benefit Expense/(Income)
$
(11.0
)
 
$
0.2

 
$
(8.2
)
 
$
(0.3
)
 
$
(11.5
)
 
$

 
$
(9.3
)
 
$

Intercompany Allocations
N/A

 
$
(0.3
)
 
$
(0.4
)
 
$
(0.1
)
 
N/A

 
$
(0.2
)
 
$
(0.3
)
 
$
(0.1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PBOP
 
For the Six Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2018
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR
Electric
 
PSNH
Service Cost
$
3.9

 
$
0.7

 
$
0.9

 
$
0.4

 
$
5.0

 
$
0.9

 
$
1.0

 
$
0.6

Interest Cost
16.3

 
3.1

 
4.7

 
1.7

 
14.4

 
2.9

 
4.4

 
1.6

Expected Return on Plan Assets
(33.4
)
 
(4.5
)
 
(15.1
)
 
(2.8
)
 
(34.8
)
 
(5.2
)
 
(16.2
)
 
(3.0
)
Actuarial Loss
4.1

 
0.7

 
1.7

 
0.2

 
4.4

 
0.8

 
1.1

 
0.4

Prior Service Cost/(Credit)
(11.6
)
 
0.5

 
(8.5
)
 
0.2

 
(11.5
)
 
0.5

 
(8.5
)
 
0.3

Total Net Periodic Benefit Expense/(Income)
$
(20.7
)
 
$
0.5

 
$
(16.3
)
 
$
(0.3
)
 
$
(22.5
)
 
$
(0.1
)
 
$
(18.2
)
 
$
(0.1
)
Intercompany Allocations
N/A

 
$
(0.4
)
 
$
(0.6
)
 
$
(0.2
)
 
N/A

 
$
(0.5
)
 
$
(0.7
)
 
$
(0.2
)

v3.19.2
COMMITMENTS AND CONTINGENCIES (Tables)
6 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Environmental Sites and Related Reserves
The number of environmental sites and related reserves for which remediation or long-term monitoring, preliminary site work or site assessment is being performed are as follows:
 
As of June 30, 2019
 
As of December 31, 2018
 
Number of Sites
 
Reserve
(in millions)
 
Number of Sites
 
Reserve
(in millions)
Eversource
58

 
$
71.6

 
60

 
$
64.7

CL&P
15

 
5.8

 
15

 
5.4

NSTAR Electric
15

 
10.5

 
16

 
10.9

PSNH
9

 
5.4

 
9

 
5.4


Summary of Exposure to Guaruantees and Indemnifications  The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries to external parties, as of June 30, 2019:  
Company
 
Description
 
Maximum Exposure
(in millions)
 
Expiration Dates
On behalf of subsidiaries:
 
 
 
 
 
 
Eversource Investment LLC
 
North East Offshore (1)
 
$
113.9

 
-
Various
 
Surety Bonds (2)
 
34.0

 
2019 - 2021
Rocky River Realty Company and Eversource Service
 
Lease Payments for Real Estate
 
7.1

 
2024
Bay State Wind
 
Real Estate Purchase
 
2.5

 
2020

(1) 
Eversource parent issued a declining balance guaranty on behalf of its subsidiary, Eversource Investment LLC, which holds an ownership interest in North East Offshore. Eversource parent will guarantee, as a primary obligor, the financial obligations, primarily all post-closing payment obligations of Eversource Investment LLC, under the Sale and Purchase Agreement and an Irrevocable Equity Commitment Letter with Ørsted. Eversource parent's obligations under the guaranty expire upon the full, final and indefeasible payment of the guaranteed obligations.

(2) 
Surety bond expiration dates reflect termination dates, the majority of which will be renewed or extended.  Certain surety bonds contain credit ratings triggers that would require Eversource parent to post collateral in the event that the unsecured debt credit ratings of Eversource parent are downgraded.  
v3.19.2
LEASES (Tables)
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Components of Lease Cost

The components of lease cost, prior to amounts capitalized, are as follows:
 
For the Three Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2019
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Financing Lease Cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization of Right-of-use-Assets
$
0.4

 
$
0.2

 
$

 
$

 
$
0.7

 
$
0.4

 
$
0.1

 
$

Interest on Lease Liabilities
0.3

 
0.1

 
0.2

 

 
0.7

 
0.3

 
0.3

 

Total Finance Lease Cost
0.7

 
0.3

 
0.2

 

 
1.4

 
0.7

 
0.4

 

Operating Lease Cost
2.9

 
0.1

 
0.5

 

 
5.9

 
0.1

 
0.9

 

Variable Lease Cost
15.7

 
3.1

 

 
12.6

 
31.1

 
6.5

 

 
24.6

Total Lease Cost
$
19.3

 
$
3.5

 
$
0.7

 
$
12.6

 
$
38.4

 
$
7.3

 
$
1.3

 
$
24.6


Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases is as follows:
 
 
 
As of June 30, 2019
(Millions of Dollars)
Balance Sheet Classification
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
Operating Leases:
 
 
 
 
 
 
 
 
 
Operating Lease Right-of-use-Assets, Net
Other Long-Term Assets
 
$
54.6

 
$
0.6

 
$
24.4

 
$
0.8

Operating Lease Liabilities
 
 
 
 
 
 
 
 
 
Operating Lease Liabilities - Current Portion
Other Current Liabilities
 
$
8.8

 
$
0.2

 
$
0.5

 
$
0.2

Operating Lease Liabilities - Long-Term
Other Long-Term Liabilities
 
45.8

 
0.4

 
23.9

 
0.6

Total Operating Lease Liabilities
 
 
$
54.6

 
$
0.6

 
$
24.4

 
$
0.8

Finance Leases:
 
 
 
 
 
 
 
 
 
Finance Lease Right-of-use-Assets, Net
Property, Plant and Equipment, Net
 
$
9.4

 
$
2.6

 
$
3.4

 
$
0.9

Finance Lease Liabilities
 
 
 
 
 
 
 
 
 
Finance Lease Liabilities - Current Portion
Other Current Liabilities
 
$
2.3

 
$
1.5

 
$

 
$
0.1

Finance Lease Liabilities - Long-Term
Other Long-Term Liabilities
 
9.3

 
2.3

 
4.4

 
0.8

Total Finance Lease Liabilities
 
 
$
11.6

 
$
3.8

 
$
4.4

 
$
0.9


Other Information Related to Leases
Other information related to leases is as follows (in millions of dollars, unless otherwise noted):
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
As of June 30, 2019
 
 
 
 
 
 
 
Weighted-Average Remaining Lease Term (Years):
 
 
 
 
 
 
 
Operating Leases
12

 
4

 
21

 
8

Financing Leases
11

 
2

 
23

 
9

Weighted-Average Discount Rate (Percentage):
 
 
 
 
 
 
 
Operating Leases
3.9
%
 
2.7
%
 
4.1
%
 
3.6
%
Financing Leases
4.3
%
 
10.5
%
 
2.9
%
 
3.5
%
 
 
 
 
 
 
 
 
For the Three Months Ended June 30, 2019
 
 
 
 
 
 
 
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
 
 
 
 
 
 
 
Operating Cash Flows from Operating Leases
$
3.0

 
$
0.1

 
$
0.5

 
$

Operating Cash Flows from Finance Leases
0.3

 
0.1

 
0.1

 

Financing Cash Flows from Finance Leases
0.5

 
0.4

 

 

Supplemental Non-Cash Information on Lease Liabilities:
 
 
 
 
 
 
 
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities
0.4

 
0.2

 

 
0.2

Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities
1.3

 

 

 


 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
For the Six Months Ended June 30, 2019
 
 
 
 
 
 
 
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
 
 
 
 
 
 
 
Operating Cash Flows from Operating Leases
$
5.9

 
$
0.1

 
$
0.8

 
$

Operating Cash Flows from Finance Leases
0.6

 
0.3

 
0.3

 

Financing Cash Flows from Finance Leases
0.9

 
0.7

 

 

Supplemental Non-Cash Information on Lease Liabilities:
 
 
 
 
 
 
 
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities
1.7

 
0.2

 

 
0.2

Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities
1.3

 

 

 


Future Minimum Lease Payments under Long-Term Leases
Future minimum lease payments, excluding variable costs, under long-term leases, as of June 30, 2019 are as follows:
 
Operating Leases
 
Finance Leases

(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
July 1, 2019 through December 31, 2019
$
5.7

 
$
0.3

 
$
0.8

 
$
0.2

 
$
1.7

 
$
1.0

 
$
0.3

 
$
0.1

Year Ending December 31,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2020
10.3

 
0.2

 
1.6

 
0.2

 
3.4

 
2.0

 
0.5

 
0.1

2021
9.2

 
0.1

 
1.6

 
0.2

 
2.9

 
1.5

 
0.5

 
0.1

2022
7.5

 

 
1.6

 
0.1

 
1.5

 

 
0.6

 
0.1

2023
4.9

 

 
1.6

 
0.1

 
0.7

 

 
0.6

 
0.1

2024
2.9

 

 
1.7

 

 
0.7

 

 
0.6

 
0.1

Thereafter
29.2

 
0.1

 
28.9

 
0.2

 
13.2

 

 
12.8

 
0.4

Future lease payments
69.7

 
0.7

 
37.8

 
1.0

 
24.1

 
4.5

 
15.9

 
1.0

Less amount representing interest
15.1

 
0.1

 
13.4

 
0.2

 
12.5

 
0.7

 
11.5

 
0.1

Present value of future minimum lease payments
$
54.6

 
$
0.6

 
$
24.4

 
$
0.8

 
$
11.6

 
$
3.8

 
$
4.4

 
$
0.9


Future Minimum Lease Payments under Long-Term Leases
Future minimum lease payments, excluding variable costs, under long-term leases, as of June 30, 2019 are as follows:
 
Operating Leases
 
Finance Leases

(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
July 1, 2019 through December 31, 2019
$
5.7

 
$
0.3

 
$
0.8

 
$
0.2

 
$
1.7

 
$
1.0

 
$
0.3

 
$
0.1

Year Ending December 31,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2020
10.3

 
0.2

 
1.6

 
0.2

 
3.4

 
2.0

 
0.5

 
0.1

2021
9.2

 
0.1

 
1.6

 
0.2

 
2.9

 
1.5

 
0.5

 
0.1

2022
7.5

 

 
1.6

 
0.1

 
1.5

 

 
0.6

 
0.1

2023
4.9

 

 
1.6

 
0.1

 
0.7

 

 
0.6

 
0.1

2024
2.9

 

 
1.7

 

 
0.7

 

 
0.6

 
0.1

Thereafter
29.2

 
0.1

 
28.9

 
0.2

 
13.2

 

 
12.8

 
0.4

Future lease payments
69.7

 
0.7

 
37.8

 
1.0

 
24.1

 
4.5

 
15.9

 
1.0

Less amount representing interest
15.1

 
0.1

 
13.4

 
0.2

 
12.5

 
0.7

 
11.5

 
0.1

Present value of future minimum lease payments
$
54.6

 
$
0.6

 
$
24.4

 
$
0.8

 
$
11.6

 
$
3.8

 
$
4.4

 
$
0.9


Future Minimum Rental Payments under Operating Leases
At December 31, 2018, future minimum rental payments, excluding executory costs, such as property taxes, state use taxes, insurance, and maintenance were as follows:
Operating Leases
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
2019
$
11.5

 
$
1.5

 
$
7.2

 
$
0.5

2020
9.8

 
1.4

 
6.0

 
0.4

2021
8.7

 
1.2

 
5.3

 
0.4

2022
7.2

 
1.1

 
4.4

 
0.4

2023
4.7

 
0.5

 
3.1

 
0.2

Thereafter
32.7

 
0.2

 
29.5

 
0.3

Future minimum lease payments
$
74.6

 
$
5.9

 
$
55.5

 
$
2.2


Capital Leases
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
2019
$
3.4

 
$
2.0

 
$
0.5

 
$
0.1

2020
3.4

 
2.0

 
0.5

 
0.1

2021
2.9

 
1.5

 
0.5

 
0.1

2022
1.5

 

 
0.6

 
0.1

2023
0.7

 

 
0.6

 
0.1

Thereafter
13.9

 

 
13.4

 
0.5

Future minimum lease payments
25.8

 
5.5

 
16.1

 
1.0

Less amount representing interest
13.8

 
1.0

 
12.4

 
0.1

Present value of future minimum lease payments
$
12.0

 
$
4.5

 
$
3.7

 
$
0.9


Future Minimum Rental Payments under Capital Leases
Capital Leases
(Millions of Dollars)
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
2019
$
3.4

 
$
2.0

 
$
0.5

 
$
0.1

2020
3.4

 
2.0

 
0.5

 
0.1

2021
2.9

 
1.5

 
0.5

 
0.1

2022
1.5

 

 
0.6

 
0.1

2023
0.7

 

 
0.6

 
0.1

Thereafter
13.9

 

 
13.4

 
0.5

Future minimum lease payments
25.8

 
5.5

 
16.1

 
1.0

Less amount representing interest
13.8

 
1.0

 
12.4

 
0.1

Present value of future minimum lease payments
$
12.0

 
$
4.5

 
$
3.7

 
$
0.9


v3.19.2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Carrying Amounts and Estimated Fair Values of Financial Instruments Carrying amounts and estimated fair values are as follows:
 
Eversource
 
CL&P
 
NSTAR Electric
 
PSNH
(Millions of Dollars)
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
As of June 30, 2019:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred Stock Not Subject to Mandatory Redemption
$
155.6

 
$
161.0

 
$
116.2

 
$
117.4

 
$
43.0

 
$
43.6

 
$

 
$

Long-Term Debt
13,818.5

 
14,639.4

 
3,309.5

 
3,724.9

 
3,341.5

 
3,599.6

 
1,101.8

 
1,145.3

Rate Reduction Bonds
604.9

 
642.2

 

 

 

 

 
604.9

 
642.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred Stock Not Subject to Mandatory Redemption
$
155.6

 
$
156.8

 
$
116.2

 
$
113.8

 
$
43.0

 
$
43.0

 
$

 
$

Long-Term Debt
13,086.1

 
13,154.9

 
3,254.0

 
3,429.2

 
2,944.8

 
3,024.1

 
805.2

 
819.5

Rate Reduction Bonds
635.7

 
645.8

 

 

 

 

 
635.7

 
645.8


v3.19.2
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Changes in Accumulated Other Comprehensive Income/(Loss) by Component, Net of Tax

The changes in accumulated other comprehensive income/(loss) by component, net of tax, are as follows:
 
For the Six Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2018
Eversource 
(Millions of Dollars)
Qualified
Cash Flow
Hedging
Instruments
 
Unrealized
Gains/(Losses)
 on Marketable
Securities
 
Defined
Benefit Plans
 
Total
 
Qualified
Cash Flow
Hedging
Instruments
 
Unrealized
Losses on
Marketable
Securities
 
Defined
Benefit Plans
 
Total
Balance as of January 1st
$
(4.4
)
 
$
(0.5
)
 
$
(55.1
)
 
$
(60.0
)
 
$
(6.2
)
 
$

 
$
(60.2
)
 
$
(66.4
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OCI Before Reclassifications

 
1.1

 
2.6

 
3.7

 

 
(0.6
)
 
2.6

 
2.0

Amounts Reclassified from AOCI
0.6

 

 
2.1

 
2.7

 
1.2

 

 
2.2

 
3.4

Net OCI
0.6

 
1.1

 
4.7

 
6.4

 
1.2

 
(0.6
)
 
4.8

 
5.4

Balance as of June 30th
$
(3.8
)
 
$
0.6

 
$
(50.4
)
 
$
(53.6
)
 
$
(5.0
)
 
$
(0.6
)
 
$
(55.4
)
 
$
(61.0
)

v3.19.2
COMMON SHARES (Tables)
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Common Shares Authorized and Issued

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:  
 
Shares
 
 
 
Authorized as of June 30, 2019 and December 31, 2018
 
Issued as of
 
Par Value
 
 
June 30, 2019
 
December 31, 2018
Eversource
$
5

 
380,000,000

 
339,858,402

 
333,878,402

CL&P
$
10

 
24,500,000

 
6,035,205

 
6,035,205

NSTAR Electric
$
1

 
100,000,000

 
200

 
200

PSNH
$
1

 
100,000,000

 
301

 
301


v3.19.2
EARNINGS PER SHARE (Tables)
6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Components of Basic and Diluted EPS
The following table sets forth the components of basic and diluted EPS:
Eversource
(Millions of Dollars, except share information)
For the Three Months Ended
 
For the Six Months Ended
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Net Income Attributable to Common Shareholders
$
31.5

 
$
242.8

 
$
340.1

 
$
512.3

Weighted Average Common Shares Outstanding:
 
 
 
 
 
 
 
Basic
319,664,998

 
317,344,596

 
318,644,796

 
317,370,825

Dilutive Effect of:
 
 
 
 
 
 
 
Share-Based Compensation Awards and Other
645,450

 
540,591

 
668,470

 
568,269

Equity Forward Sale Agreement
78,042

 

 
39,021

 

Total Dilutive Effect
723,492

 
540,591

 
707,491

 
568,269

Diluted
320,388,490

 
317,885,187

 
319,352,287

 
317,939,094

Basic and Diluted EPS
$
0.10

 
$
0.76

 
$
1.07

 
$
1.61


v3.19.2
REVENUES (Tables)
6 Months Ended
Jun. 30, 2019
Revenue from Contract with Customer [Abstract]  
Operating Revenues Disaggregated by Revenue Source

The following tables present operating revenues disaggregated by revenue source:
 
For the Three Months Ended June 30, 2019
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
805.0

 
$
100.2

 
$

 
$
33.6

 
$

 
$

 
$
938.8

Commercial
612.8

 
69.5

 

 
16.0

 

 
(0.9
)
 
697.4

Industrial
81.3

 
23.5

 

 
1.1

 

 
(2.8
)
 
103.1

Total Retail Tariff Sales Revenues
1,499.1


193.2

 

 
50.7



 
(3.7
)
 
1,739.3

Wholesale Transmission Revenues

 

 
281.2

 

 
14.7

 
(239.8
)
 
56.1

Wholesale Market Sales Revenues
39.4

 
14.4

 

 
0.9

 

 

 
54.7

Other Revenues from Contracts with Customers
15.1

 
0.4

 
3.7

 
1.8

 
236.1

 
(236.8
)
 
20.3

Reserve for Revenues Subject to Refund
(3.1
)
 
1.5

 

 
(0.6
)
 

 

 
(2.2
)
Total Revenues from Contracts with Customers
1,550.5


209.5

 
284.9

 
52.8


250.8

 
(480.3
)
 
1,868.2

Alternative Revenue Programs
6.3

 
(2.7
)
 
64.6

 
0.7

 

 
(58.8
)
 
10.1

Other Revenues (1)
5.0

 
0.9

 
0.1

 
0.2

 

 

 
6.2

Total Operating Revenues
$
1,561.8


$
207.7

 
$
349.6

 
$
53.7


$
250.8

 
$
(539.1
)
 
$
1,884.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended June 30, 2019
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
1,838.3

 
$
359.1

 
$

 
$
60.5

 
$

 
$

 
$
2,257.9

Commercial
1,265.3

 
213.3

 

 
30.3

 

 
(2.0
)
 
1,506.9

Industrial
163.4

 
54.4

 

 
2.2

 

 
(5.5
)
 
214.5

Total Retail Tariff Sales Revenues
3,267.0

 
626.8

 

 
93.0

 

 
(7.5
)
 
3,979.3

Wholesale Transmission Revenues

 

 
606.1

 

 
28.3

 
(510.7
)
 
123.7

Wholesale Market Sales Revenues
90.8

 
36.1

 

 
1.9

 

 

 
128.8

Other Revenues from Contracts with Customers
27.7

 
1.4

 
6.9

 
3.5

 
480.7

 
(482.2
)
 
38.0

Reserve for Revenues Subject to Refund
(6.1
)
 
3.1

 

 
(1.2
)
 

 

 
(4.2
)
Total Revenues from Contracts with Customers
3,379.4

 
667.4

 
613.0

 
97.2

 
509.0

 
(1,000.4
)
 
4,265.6

Alternative Revenue Programs
8.4

 
7.7

 
77.0

 
1.5

 

 
(69.8
)
 
24.8

Other Revenues (1)
7.8

 
1.5

 
0.1

 
0.5

 

 

 
9.9

Total Operating Revenues
$
3,395.6

 
$
676.6

 
$
690.1

 
$
99.2

 
$
509.0

 
$
(1,070.2
)
 
$
4,300.3


 
For the Three Months Ended June 30, 2018
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
794.4

 
$
104.1

 
$

 
$
32.3

 
$

 
$

 
$
930.8

Commercial
622.0

 
70.0

 

 
15.7

 

 
(2.0
)
 
705.7

Industrial
88.4

 
23.5

 

 
1.1

 

 
(2.4
)
 
110.6

Total Retail Tariff Sales Revenues
1,504.8

 
197.6

 

 
49.1

 

 
(4.4
)
 
1,747.1

Wholesale Transmission Revenues

 

 
310.8

 

 
12.6

 
(268.0
)
 
55.4

Wholesale Market Sales Revenues
34.2

 
12.1

 

 
0.9

 

 

 
47.2

Other Revenues from Contracts with Customers
18.4

 
(0.6
)
 
3.2

 
1.9

 
224.4

 
(225.1
)
 
22.2

Reserve for Revenues Subject to Refund
(7.3
)
 
(3.5
)
 

 
(0.5
)
 

 

 
(11.3
)
Total Revenues from Contracts with Customers
1,550.1

 
205.6

 
314.0

 
51.4

 
237.0

 
(497.5
)
 
1,860.6

Alternative Revenue Programs
(14.4
)
 
0.1

 
3.4

 
1.9

 

 
(2.9
)
 
(11.9
)
Other Revenues
4.2

 
0.8

 

 
0.2

 

 

 
5.2

Total Operating Revenues
$
1,539.9

 
$
206.5

 
$
317.4

 
$
53.5

 
$
237.0

 
$
(500.4
)
 
$
1,853.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended June 30, 2018
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
1,788.7

 
$
352.9

 
$

 
$
59.7

 
$

 
$

 
$
2,201.3

Commercial
1,233.4

 
204.7

 

 
30.0

 

 
(2.1
)
 
1,466.0

Industrial
169.9

 
53.1

 

 
2.1

 

 
(5.0
)
 
220.1

Total Retail Tariff Sales Revenues
3,192.0

 
610.7

 

 
91.8

 

 
(7.1
)
 
3,887.4

Wholesale Transmission Revenues

 

 
624.5

 

 
22.7

 
(526.7
)
 
120.5

Wholesale Market Sales Revenues
92.7

 
29.9

 

 
1.7

 

 

 
124.3

Other Revenues from Contracts with Customers
35.3

 
(0.9
)
 
6.2

 
3.7

 
445.2

 
(446.3
)
 
43.2

Reserve for Revenues Subject to Refund
(26.5
)
 
(8.0
)
 

 
(2.0
)
 

 

 
(36.5
)
Total Revenues from Contracts with Customers
3,293.5

 
631.7

 
630.7

 
95.2

 
467.9

 
(980.1
)
 
4,138.9

Alternative Revenue Programs
(5.7
)
 
(1.7
)
 
(8.3
)
 
2.6

 

 
7.7

 
(5.4
)
Other Revenues
6.7

 
1.4

 

 
0.2

 

 

 
8.3

Total Operating Revenues
$
3,294.5

 
$
631.4

 
$
622.4

 
$
98.0

 
$
467.9

 
$
(972.4
)
 
$
4,141.8

 
For the Three Months Ended June 30, 2019
 
For the Three Months Ended June 30, 2018
(Millions of Dollars)
CL&P
 
NSTAR Electric
 
PSNH
 
CL&P
 
NSTAR Electric
 
PSNH
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
Residential
$
402.8

 
$
282.3

 
$
119.9

 
$
387.1

 
$
292.5

 
$
114.8

Commercial
224.7

 
315.8

 
72.7

 
220.7

 
325.5

 
76.2

Industrial
33.8

 
28.9

 
18.6

 
36.5

 
30.9

 
21.0

Total Retail Tariff Sales Revenues
661.3

 
627.0

 
211.2

 
644.3

 
648.9

 
212.0

Wholesale Transmission Revenues
115.9

 
127.5

 
37.8

 
139.9

 
120.9

 
50.1

Wholesale Market Sales Revenues
12.1

 
17.2

 
10.1

 
10.6

 
13.4

 
10.9

Other Revenues from Contracts with Customers
9.1

 
6.1

 
4.2

 
8.3

 
9.3

 
3.9

Reserve for Revenues Subject to Refund

 

 
(3.1
)
 
(4.2
)
 

 
(3.1
)
Total Revenues from Contracts with Customers
798.4

 
777.8

 
260.2

 
798.9

 
792.5

 
273.8

Alternative Revenue Programs
55.1

 
2.1

 
13.7

 
1.0

 
(6.9
)
 
(5.0
)
Other Revenues (1)
2.7

 
1.9

 
0.5

 
2.4

 
1.6

 
0.2

Eliminations
(115.4
)
 
(99.9
)
 
(33.5
)
 
(107.4
)
 
(96.5
)
 
(33.9
)
Total Operating Revenues
$
740.8

 
$
681.9

 
$
240.9

 
$
694.9

 
$
690.7

 
$
235.1

 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended June 30, 2019
 
For the Six Months Ended June 30, 2018
(Millions of Dollars)
CL&P
 
NSTAR Electric
 
PSNH
 
CL&P
 
NSTAR Electric
 
PSNH
Revenues from Contracts with Customers
 
 
 
 
 
 
 
 
 
 
 
Retail Tariff Sales
 
 
 
 
 
 
 
 
 
 
 
Residential
$
913.4

 
$
653.2

 
$
271.7

 
$
870.4

 
$
656.7

 
$
261.6

Commercial
461.3

 
652.3

 
152.6

 
443.2

 
640.0

 
151.1

Industrial
68.4

 
57.8

 
37.2

 
72.3

 
59.0

 
38.6

Total Retail Tariff Sales Revenues
1,443.1

 
1,363.3

 
461.5

 
1,385.9

 
1,355.7

 
451.3

Wholesale Transmission Revenues
270.7

 
250.1

 
85.3

 
290.6

 
239.5

 
94.3

Wholesale Market Sales Revenues
25.8

 
41.6

 
23.4

 
21.0

 
38.2

 
34.9

Other Revenues from Contracts with Customers
18.0

 
10.1

 
7.8

 
16.2

 
18.3

 
7.5

Reserve for Revenues Subject to Refund

 

 
(6.1
)
 
(16.6
)
 
(3.7
)
 
(6.2
)
Total Revenues from Contracts with Customers
1,757.6

 
1,665.1

 
571.9

 
1,697.1

 
1,648.0

 
581.8

Alternative Revenue Programs
60.9

 
9.3

 
15.2

 
(4.1
)
 
(0.2
)
 
(9.6
)
Other Revenues (1)
3.7

 
3.4

 
0.8

 
3.3

 
2.7

 
0.6

Eliminations
(232.1
)
 
(198.3
)
 
(70.6
)
 
(216.4
)
 
(189.6
)
 
(70.3
)
Total Operating Revenues
$
1,590.1

 
$
1,479.5

 
$
517.3

 
$
1,479.9

 
$
1,460.9

 
$
502.5


(1)  
Other Revenues include certain fees charged to customers, which are not considered revenue from contracts with customers. Other revenues also includes lease revenues under lessor accounting guidance of $1.1 million at Eversource, $0.3 million at CL&P, and $0.7 million at NSTAR Electric for the three months ended June 30, 2019, and $2.2 million at Eversource, $0.5 million at CL&P, and $1.3 million at NSTAR Electric for the six months ended June 30, 2019, respectively.

v3.19.2
SEGMENT INFORMATION (Tables)
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Summary of Segment Information and Segmented Total Assets
Eversource's segment information is as follows:
 
For the Three Months Ended June 30, 2019
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Operating Revenues
$
1,561.8

 
$
207.7

 
$
349.6

 
$
53.7

 
$
250.8

 
$
(539.1
)
 
$
1,884.5

Depreciation and Amortization
(150.1
)
 
(19.5
)
 
(62.3
)
 
(12.0
)
 
(14.7
)
 
0.6

 
(258.0
)
Impairment of Northern Pass Transmission

 

 
(239.6
)
 

 

 

 
(239.6
)
Other Operating Expenses
(1,243.0
)
 
(179.8
)
 
(108.4
)
 
(25.0
)
 
(218.4
)
 
538.7

 
(1,235.9
)
Operating Income/(Loss)
$
168.7

 
$
8.4

 
$
(60.7
)
 
$
16.7

 
$
17.7

 
$
0.2

 
$
151.0

Interest Expense
$
(50.8
)
 
$
(11.9
)
 
$
(30.5
)
 
$
(8.6
)
 
$
(44.5
)
 
$
13.6

 
$
(132.7
)
Other Income/(Loss), Net
12.2

 
0.7

 
8.7

 
0.1

 
(114.9
)
 
139.1

 
45.9

Net Income/(Loss) Attributable to Common Shareholders
105.4

 
(1.8
)
 
(87.4
)
 
8.0

 
(145.6
)
 
152.9

 
31.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended June 30, 2019
Eversource
(Millions of Dollars)
Electric Distribution
 
Natural Gas Distribution
 
Electric Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Operating Revenues
$
3,395.6

 
$
676.6

 
$
690.1

 
$
99.2

 
$
509.0

 
$
(1,070.2
)
 
$
4,300.3

Depreciation and Amortization
(329.3
)
 
(39.9
)
 
(123.7
)
 
(23.9
)
 
(28.3
)
 
1.1

 
(544.0
)
Impairment of Northern Pass Transmission

 

 
(239.6
)
 

 

 

 
(239.6
)
Other Operating Expenses
(2,718.6
)
 
(521.1
)
 
(207.2
)
 
(49.9
)
 
(444.0
)
 
1,069.8

 
(2,871.0
)
Operating Income
$
347.7

 
$
115.6

 
$
119.6

 
$
25.4

 
$
36.7

 
$
0.7

 
$
645.7

Interest Expense
$
(100.0
)
 
$
(23.7
)
 
$
(61.0
)
 
$
(17.2
)
 
$
(88.6
)
 
$
26.1

 
$
(264.4
)
Other Income, Net
30.4

 
1.0

 
16.8

 
0.4

 
316.8

 
(288.5
)
 
76.9

Net Income Attributable to Common Shareholders
225.4

 
74.7

 
30.9

 
8.8

 
262.0

 
(261.7
)
 
340.1

Cash Flows Used for Investments in Plant
571.3

 
202.7

 
449.2

 
51.4

 
103.2

 

 
1,377.8

 
For the Three Months Ended June 30, 2018
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Operating Revenues
$
1,539.9

 
$
206.5

 
$
317.4

 
$
53.5

 
$
237.0

 
$
(500.4
)
 
$
1,853.9

Depreciation and Amortization
(135.5
)
 
(19.3
)
 
(57.0
)
 
(12.2
)
 
(11.9
)
 
0.6

 
(235.3
)
Other Operating Expenses
(1,233.0
)
 
(170.6
)
 
(88.8
)
 
(24.5
)
 
(211.7
)
 
501.4

 
(1,227.2
)
Operating Income
$
171.4

 
$
16.6

 
$
171.6

 
$
16.8

 
$
13.4

 
$
1.6

 
$
391.4

Interest Expense
$
(52.1
)
 
$
(11.4
)
 
$
(30.0
)
 
$
(8.6
)
 
$
(32.3
)
 
$
8.0

 
$
(126.4
)
Other Income/(Loss), Net
19.0

 
1.6

 
9.9

 
(0.6
)
 
302.0

 
(281.8
)
 
50.1

Net Income Attributable to Common Shareholders
101.3

 
5.0

 
112.7

 
7.2

 
288.8

 
(272.2
)
 
242.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months Ended June 30, 2018
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
Operating Revenues
$
3,294.5

 
$
631.4

 
$
622.4

 
$
98.0

 
$
467.9

 
$
(972.4
)
 
$
4,141.8

Depreciation and Amortization
(279.9
)
 
(45.7
)
 
(113.5
)
 
(22.9
)
 
(23.9
)
 
1.1

 
(484.8
)
Other Operating Expenses
(2,676.5
)
 
(483.2
)
 
(172.0
)
 
(48.4
)
 
(416.3
)
 
973.3

 
(2,823.1
)
Operating Income
$
338.1

 
$
102.5

 
$
336.9

 
$
26.7

 
$
27.7

 
$
2.0

 
$
833.9

Interest Expense
$
(99.5
)
 
$
(22.5
)
 
$
(59.7
)
 
$
(16.9
)
 
$
(64.3
)
 
$
15.4

 
$
(247.5
)
Other Income/(Loss), Net
38.6

 
3.5

 
17.8

 
(1.1
)
 
662.1

 
(637.0
)
 
83.9

Net Income Attributable to Common Shareholders
205.5

 
62.8

 
220.1

 
8.7

 
634.8

 
(619.6
)
 
512.3

Cash Flows Used for Investments in Plant
475.6

 
150.3

 
508.5

 
40.2

 
77.1

 

 
1,251.7


The following table summarizes Eversource's segmented total assets:
Eversource
(Millions of Dollars)
Electric
Distribution
 
Natural Gas
Distribution
 
Electric
Transmission
 
Water Distribution
 
Other
 
Eliminations
 
Total
As of June 30, 2019
$
21,628.8

 
$
4,031.3

 
$
10,499.7

 
$
2,290.5

 
$
18,550.4

 
$
(18,004.8
)
 
$
38,995.9

As of December 31, 2018
21,389.1

 
3,904.9

 
10,285.0

 
2,253.0

 
17,874.2

 
(17,464.9
)
 
38,241.3


For further information regarding the 2019 impairment of NPT, see Note 1C, "Summary of Significant Accounting Policies - Impairment of Northern Pass Transmission," to the financial statements.
v3.19.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)
$ / shares in Units, $ in Thousands, customer in Millions
1 Months Ended 3 Months Ended 6 Months Ended
Jul. 19, 2019
USD ($)
Jul. 31, 2019
USD ($)
Jun. 30, 2019
USD ($)
$ / shares
Jun. 30, 2018
USD ($)
Jun. 30, 2019
USD ($)
utility
customer
$ / shares
MW
Jun. 30, 2018
USD ($)
Feb. 08, 2019
USD ($)
mi²
Jan. 01, 2019
USD ($)
Dec. 31, 2018
USD ($)
Summary of Accounting Policies [Line Items]                  
Number of electric, natural gas and water customers | customer         4,000,000        
Operating lease liability     $ 54,600   $ 54,600        
Operating lease right-of-use asset     54,600   54,600        
Pre-tax impairment charge     239,644 $ 0 239,644 $ 0      
After-tax impact of impairment charge     $ 204,400   $ 204,400        
After-tax impact of impairment charge (in dollars per share) | $ / shares     $ 0.64   $ 0.64        
Equity investment balance     $ 748,705   $ 748,705       $ 464,286
Energy efficiency funds collected from customers to be remitted to the State of Connecticut     10,700 $ 12,700 21,400 25,400      
Capital contribution         $ 265,955 $ 13,220      
Northern Pass                  
Summary of Accounting Policies [Line Items]                  
Capacity required for transmission line | MW         1,090        
Northern Pass | Subsequent Event                  
Summary of Accounting Policies [Line Items]                  
Pre-tax impairment charge $ 318,000                
Revolution Wind and South Fork Wind                  
Summary of Accounting Policies [Line Items]                  
Cost of investment in unconsolidated affiliate             $ 225,000    
Ownership interest             50.00%    
Area of land | mi²             257    
Equity investment balance     499,500   $ 499,500        
Revolution Wind and South Fork Wind | Subsequent Event                  
Summary of Accounting Policies [Line Items]                  
Capital contribution   $ 54,900              
Bay State Wind                  
Summary of Accounting Policies [Line Items]                  
Ownership interest             50.00%    
ASU 2016-02                  
Summary of Accounting Policies [Line Items]                  
Operating lease liability               $ 58,000  
Operating lease right-of-use asset               58,000  
NSTAR Electric                  
Summary of Accounting Policies [Line Items]                  
Operating lease liability     24,400   24,400        
Operating lease right-of-use asset     24,400   24,400        
NSTAR Electric | ASU 2016-02                  
Summary of Accounting Policies [Line Items]                  
Operating lease liability               25,300  
Operating lease right-of-use asset               25,300  
CL&P                  
Summary of Accounting Policies [Line Items]                  
Operating lease liability     600   600        
Operating lease right-of-use asset     600   $ 600        
Period of accounts receivable recoverable under financial or medical duress         180 days        
CL&P | ASU 2016-02                  
Summary of Accounting Policies [Line Items]                  
Operating lease liability               600  
Operating lease right-of-use asset               600  
PSNH                  
Summary of Accounting Policies [Line Items]                  
Operating lease liability     800   $ 800        
Operating lease right-of-use asset     $ 800   $ 800        
PSNH | ASU 2016-02                  
Summary of Accounting Policies [Line Items]                  
Operating lease liability               600  
Operating lease right-of-use asset               $ 600  
Yankee Gas                  
Summary of Accounting Policies [Line Items]                  
Period of accounts receivable recoverable under financial or medical duress         90 days        
Connecticut, Massachusetts and New Hampshire                  
Summary of Accounting Policies [Line Items]                  
Number of regulated utilities | utility         8        
v3.19.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Provision for Uncollectible Accounts (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Total Provision for Uncollectible Accounts $ 226,400   $ 226,400   $ 212,700
Provision for Uncollectible Hardship Accounts 137,900   137,900   131,500
Bad debt expense associated with accounts receivable 13,000 $ 9,500 31,546 $ 29,250  
CL&P          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Total Provision for Uncollectible Accounts 88,700   88,700   88,000
Provision for Uncollectible Hardship Accounts 70,900   70,900   71,900
Bad debt expense associated with accounts receivable 3,500 3,800 7,627 7,747  
NSTAR Electric          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Total Provision for Uncollectible Accounts 81,800   81,800   74,500
Provision for Uncollectible Hardship Accounts 47,700   47,700   42,500
Bad debt expense associated with accounts receivable 5,700 3,800 11,605 11,301  
PSNH          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Total Provision for Uncollectible Accounts 11,200   11,200   11,100
Provision for Uncollectible Hardship Accounts 0   0   $ 0
Bad debt expense associated with accounts receivable $ 1,400 $ 1,500 $ 3,100 $ 3,200  
v3.19.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Components of Other Income, Net (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Summary of Accounting Policies [Line Items]        
Other income, net $ 45,866 $ 50,149 $ 76,850 $ 83,938
Pension, SERP and PBOP Non-Service Income/(Expense) Components        
Summary of Accounting Policies [Line Items]        
Other income, net 5,800 14,600 13,100 29,800
AFUDC Equity        
Summary of Accounting Policies [Line Items]        
Other income, net 13,100 10,900 24,100 20,600
Equity in Earnings        
Summary of Accounting Policies [Line Items]        
Other income, net 25,900 22,900 30,900 27,500
Unrealized gain associated with investment 20,400 17,600 20,400 17,600
Investment Income        
Summary of Accounting Policies [Line Items]        
Other income, net (600) (300) 600 400
Interest Income        
Summary of Accounting Policies [Line Items]        
Other income, net 1,300 1,900 7,800 5,400
Other        
Summary of Accounting Policies [Line Items]        
Other income, net 400 100 400 200
CL&P        
Summary of Accounting Policies [Line Items]        
Other income, net 2,853 7,063 6,733 13,623
CL&P | Pension, SERP and PBOP Non-Service Income/(Expense) Components        
Summary of Accounting Policies [Line Items]        
Other income, net (900) 2,400 (1,600) 5,300
CL&P | AFUDC Equity        
Summary of Accounting Policies [Line Items]        
Other income, net 3,200 3,300 5,800 6,100
CL&P | Equity in Earnings        
Summary of Accounting Policies [Line Items]        
Other income, net 100 0 100 0
CL&P | Investment Income        
Summary of Accounting Policies [Line Items]        
Other income, net (100) 400 1,700 200
CL&P | Interest Income        
Summary of Accounting Policies [Line Items]        
Other income, net 500 1,000 800 2,000
CL&P | Other        
Summary of Accounting Policies [Line Items]        
Other income, net 100 0 (100) 0
NSTAR Electric        
Summary of Accounting Policies [Line Items]        
Other income, net 10,657 14,269 21,743 26,870
NSTAR Electric | Pension, SERP and PBOP Non-Service Income/(Expense) Components        
Summary of Accounting Policies [Line Items]        
Other income, net 5,400 9,500 12,400 17,900
NSTAR Electric | AFUDC Equity        
Summary of Accounting Policies [Line Items]        
Other income, net 5,100 3,900 9,100 7,300
NSTAR Electric | Equity in Earnings        
Summary of Accounting Policies [Line Items]        
Other income, net 200 400 400 400
NSTAR Electric | Investment Income        
Summary of Accounting Policies [Line Items]        
Other income, net (300) 300 (600) 900
NSTAR Electric | Interest Income        
Summary of Accounting Policies [Line Items]        
Other income, net 200 200 400 400
NSTAR Electric | Other        
Summary of Accounting Policies [Line Items]        
Other income, net 100 0 0 0
PSNH        
Summary of Accounting Policies [Line Items]        
Other income, net 2,984 3,409 10,006 8,159
PSNH | Pension, SERP and PBOP Non-Service Income/(Expense) Components        
Summary of Accounting Policies [Line Items]        
Other income, net 1,500 2,100 2,000 4,400
PSNH | AFUDC Equity        
Summary of Accounting Policies [Line Items]        
Other income, net 900 0 1,100 0
PSNH | Equity in Earnings        
Summary of Accounting Policies [Line Items]        
Other income, net 0 0 0 0
PSNH | Investment Income        
Summary of Accounting Policies [Line Items]        
Other income, net (100) 0 200 100
PSNH | Interest Income        
Summary of Accounting Policies [Line Items]        
Other income, net 700 1,300 6,600 3,700
PSNH | Other        
Summary of Accounting Policies [Line Items]        
Other income, net $ 0 $ 0 $ 100 $ 0
v3.19.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Other Taxes (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Schedule of Gross Tax Receipts [Line Items]        
Gross receipts taxes $ 36.4 $ 35.6 $ 81.4 $ 79.0
CL&P        
Schedule of Gross Tax Receipts [Line Items]        
Gross receipts taxes $ 31.8 $ 31.5 $ 68.0 $ 67.1
v3.19.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Non-cash Investing Activities (Details) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Schedule of Supplemental Cash Flow [Line Items]    
Plant additions included in accounts payable $ 323.7 $ 305.7
CL&P    
Schedule of Supplemental Cash Flow [Line Items]    
Plant additions included in accounts payable 114.0 110.9
NSTAR Electric    
Schedule of Supplemental Cash Flow [Line Items]    
Plant additions included in accounts payable 85.2 71.1
PSNH    
Schedule of Supplemental Cash Flow [Line Items]    
Plant additions included in accounts payable $ 29.9 $ 46.6
v3.19.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Cash Balances to Cash and Restricted Cash (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Jun. 30, 2018
Dec. 31, 2017
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash as reported on the Balance Sheets $ 20,578 $ 108,068    
Cash and Restricted Cash reported on the Statements of Cash Flows 167,163 209,324 $ 121,850 $ 85,890
Prepayments and Other Current Assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 54,100 72,100    
Marketable Securities        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 20,500 25,900    
Other Long-Term Assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 72,000 3,200    
CL&P        
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash as reported on the Balance Sheets 2,191 87,721    
Cash and Restricted Cash reported on the Statements of Cash Flows 7,094 91,613 5,695 9,619
CL&P | Prepayments and Other Current Assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 4,600 3,500    
CL&P | Marketable Securities        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 300 400    
CL&P | Other Long-Term Assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 0 0    
NSTAR Electric        
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash as reported on the Balance Sheets 177 1,606    
Cash and Restricted Cash reported on the Statements of Cash Flows 6,366 14,659 13,100 14,708
NSTAR Electric | Prepayments and Other Current Assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 6,100 13,000    
NSTAR Electric | Marketable Securities        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 100 100    
NSTAR Electric | Other Long-Term Assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 0 0    
PSNH        
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash as reported on the Balance Sheets 343 1,439    
Cash and Restricted Cash reported on the Statements of Cash Flows 39,087 52,723 $ 8,501 $ 2,191
PSNH | Prepayments and Other Current Assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 35,000 47,500    
PSNH | Marketable Securities        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash 600 600    
PSNH | Other Long-Term Assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash $ 3,200 $ 3,200    
v3.19.2
REGULATORY ACCOUNTING - Components of Regulatory Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Regulatory Assets [Line Items]    
Total Regulatory Assets $ 4,919,500 $ 5,145,900
Less: Current Portion 515,265 514,779
Total Long-Term Regulatory Assets 4,404,176 4,631,137
Benefit Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 1,870,500 1,914,800
Income Taxes, Net    
Regulatory Assets [Line Items]    
Total Regulatory Assets 702,600 728,600
Securitized Stranded Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 586,900 608,400
Storm Restoration Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 536,700 576,000
Regulatory Tracker Mechanisms    
Regulatory Assets [Line Items]    
Total Regulatory Assets 289,000 316,000
Derivative Liabilities    
Regulatory Assets [Line Items]    
Total Regulatory Assets 347,900 356,500
Goodwill-related    
Regulatory Assets [Line Items]    
Total Regulatory Assets 340,000 348,400
Asset Retirement Obligations    
Regulatory Assets [Line Items]    
Total Regulatory Assets 97,100 89,200
Other Regulatory Assets    
Regulatory Assets [Line Items]    
Total Regulatory Assets 148,800 208,000
CL&P    
Regulatory Assets [Line Items]    
Total Regulatory Assets 1,608,500 1,630,700
Less: Current Portion 175,706 125,155
Total Long-Term Regulatory Assets 1,432,827 1,505,488
CL&P | Benefit Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 407,400 424,700
CL&P | Income Taxes, Net    
Regulatory Assets [Line Items]    
Total Regulatory Assets 456,500 454,400
CL&P | Securitized Stranded Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 0 0
CL&P | Storm Restoration Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 279,600 302,600
CL&P | Regulatory Tracker Mechanisms    
Regulatory Assets [Line Items]    
Total Regulatory Assets 60,300 33,200
CL&P | Derivative Liabilities    
Regulatory Assets [Line Items]    
Total Regulatory Assets 345,400 356,500
CL&P | Goodwill-related    
Regulatory Assets [Line Items]    
Total Regulatory Assets 0 0
CL&P | Asset Retirement Obligations    
Regulatory Assets [Line Items]    
Total Regulatory Assets 33,300 32,300
CL&P | Other Regulatory Assets    
Regulatory Assets [Line Items]    
Total Regulatory Assets 26,000 27,000
NSTAR Electric    
Regulatory Assets [Line Items]    
Total Regulatory Assets 1,389,000 1,438,200
Less: Current Portion 210,032 241,747
Total Long-Term Regulatory Assets 1,178,974 1,196,512
NSTAR Electric | Benefit Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 554,800 544,400
NSTAR Electric | Income Taxes, Net    
Regulatory Assets [Line Items]    
Total Regulatory Assets 104,100 105,900
NSTAR Electric | Securitized Stranded Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 0 0
NSTAR Electric | Storm Restoration Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 191,200 212,900
NSTAR Electric | Regulatory Tracker Mechanisms    
Regulatory Assets [Line Items]    
Total Regulatory Assets 138,200 169,100
NSTAR Electric | Derivative Liabilities    
Regulatory Assets [Line Items]    
Total Regulatory Assets 0 0
NSTAR Electric | Goodwill-related    
Regulatory Assets [Line Items]    
Total Regulatory Assets 291,900 299,100
NSTAR Electric | Asset Retirement Obligations    
Regulatory Assets [Line Items]    
Total Regulatory Assets 48,300 42,200
NSTAR Electric | Other Regulatory Assets    
Regulatory Assets [Line Items]    
Total Regulatory Assets 60,500 64,600
PSNH    
Regulatory Assets [Line Items]    
Total Regulatory Assets 905,800 929,500
Less: Current Portion 77,854 67,228
Total Long-Term Regulatory Assets 827,898 862,288
PSNH | Benefit Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 151,100 169,600
PSNH | Income Taxes, Net    
Regulatory Assets [Line Items]    
Total Regulatory Assets 10,100 8,300
PSNH | Securitized Stranded Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 586,900 608,400
PSNH | Storm Restoration Costs    
Regulatory Assets [Line Items]    
Total Regulatory Assets 65,900 60,500
PSNH | Regulatory Tracker Mechanisms    
Regulatory Assets [Line Items]    
Total Regulatory Assets 70,600 67,300
PSNH | Derivative Liabilities    
Regulatory Assets [Line Items]    
Total Regulatory Assets 0 0
PSNH | Goodwill-related    
Regulatory Assets [Line Items]    
Total Regulatory Assets 0 0
PSNH | Asset Retirement Obligations    
Regulatory Assets [Line Items]    
Total Regulatory Assets 3,500 3,300
PSNH | Other Regulatory Assets    
Regulatory Assets [Line Items]    
Total Regulatory Assets $ 17,700 $ 12,100
v3.19.2
REGULATORY ACCOUNTING - Narrative (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 27, 2019
May 01, 2019
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Apr. 17, 2019
Apr. 16, 2019
Mar. 26, 2019
Dec. 31, 2018
Nov. 16, 2018
Regulatory Assets [Line Items]                        
Amount of regulatory costs not yet approved     $ 142,000     $ 142,000         $ 122,900  
Regulatory assets     4,919,500     4,919,500         5,145,900  
Other income, net     45,866   $ 50,149 76,850 $ 83,938          
CL&P                        
Regulatory Assets [Line Items]                        
Amount of regulatory costs not yet approved     43,600     43,600         42,100  
Regulatory assets     1,608,500     1,608,500         1,630,700  
Other income, net     2,853   7,063 6,733 13,623          
CL&P | Storm Costs                        
Regulatory Assets [Line Items]                        
Amount of regulatory costs not yet approved                 $ 145,500     $ 153,000
Recovery period   6 years                    
Regulatory assets               $ 141,000        
PSNH                        
Regulatory Assets [Line Items]                        
Amount of regulatory costs not yet approved     15,300     15,300         12,200  
Regulatory assets     905,800     905,800         929,500  
Other income, net     2,984   3,409 10,006 8,159          
PSNH | Storm Costs                        
Regulatory Assets [Line Items]                        
Recovery period 5 years                      
Regulatory assets $ 68,500                 $ 38,100    
PSNH | Deferred Costs from Generation Asset Sale                        
Regulatory Assets [Line Items]                        
Other income, net       $ 5,200                
NSTAR Electric                        
Regulatory Assets [Line Items]                        
Amount of regulatory costs not yet approved     61,400     61,400         49,300  
Regulatory assets     1,389,000     1,389,000         $ 1,438,200  
Other income, net     $ 10,657   $ 14,269 $ 21,743 $ 26,870          
v3.19.2
REGULATORY ACCOUNTING - Components of Regulatory Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities $ 4,019,700 $ 3,979,700
Less: Current Portion 379,850 370,230
Total Long-Term Regulatory Liabilities 3,639,792 3,609,475
EDIT due to Tax Cuts and Jobs Act    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 2,860,700 2,883,000
Cost of Removal    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 544,900 521,000
Benefit Costs    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 83,800 91,200
Regulatory Tracker Mechanisms    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 333,300 309,000
AFUDC - Transmission    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 71,700 70,700
Revenue Subject to Refund due to Tax Cuts and Jobs Act    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 29,200 24,600
Other Regulatory Liabilities    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 96,100 80,200
CL&P    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 1,265,800 1,231,800
Less: Current Portion 112,414 109,614
Total Long-Term Regulatory Liabilities 1,153,360 1,122,157
CL&P | EDIT due to Tax Cuts and Jobs Act    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 1,028,700 1,031,000
CL&P | Cost of Removal    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 51,000 39,900
CL&P | Benefit Costs    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 0 0
CL&P | Regulatory Tracker Mechanisms    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 110,000 89,500
CL&P | AFUDC - Transmission    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 46,700 47,400
CL&P | Revenue Subject to Refund due to Tax Cuts and Jobs Act    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 0 0
CL&P | Other Regulatory Liabilities    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 29,400 24,000
NSTAR Electric    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 1,685,800 1,703,900
Less: Current Portion 170,970 190,620
Total Long-Term Regulatory Liabilities 1,514,845 1,513,279
NSTAR Electric | EDIT due to Tax Cuts and Jobs Act    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 1,090,000 1,103,700
NSTAR Electric | Cost of Removal    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 319,400 307,100
NSTAR Electric | Benefit Costs    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 70,900 76,900
NSTAR Electric | Regulatory Tracker Mechanisms    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 141,900 163,700
NSTAR Electric | AFUDC - Transmission    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 25,000 23,300
NSTAR Electric | Revenue Subject to Refund due to Tax Cuts and Jobs Act    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 0 0
NSTAR Electric | Other Regulatory Liabilities    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 38,600 29,200
PSNH    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 471,200 483,600
Less: Current Portion 54,183 55,526
Total Long-Term Regulatory Liabilities 416,999 428,069
PSNH | EDIT due to Tax Cuts and Jobs Act    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 395,400 396,400
PSNH | Cost of Removal    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 21,400 22,100
PSNH | Benefit Costs    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 0 0
PSNH | Regulatory Tracker Mechanisms    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 31,200 48,300
PSNH | AFUDC - Transmission    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 0 0
PSNH | Revenue Subject to Refund due to Tax Cuts and Jobs Act    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities 19,100 12,600
PSNH | Other Regulatory Liabilities    
Regulatory Liabilities [Line Items]    
Total Regulatory Liabilities $ 4,100 $ 4,200
v3.19.2
PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Public Utility, Property, Plant and Equipment [Line Items]    
Distribution - Electric $ 15,472,100 $ 15,071,100
Distribution - Natural Gas 3,632,900 3,546,200
Transmission - Electric 10,449,500 10,153,900
Distribution - Water 1,664,100 1,639,800
Solar 196,900 164,100
Utility 31,415,500 30,575,100
Other 882,400 778,600
Property, Plant and Equipment, Gross 32,297,900 31,353,700
Less: Accumulated Depreciation    
Utility (7,357,900) (7,126,200)
Other (363,100) (336,700)
Total Accumulated Depreciation (7,721,000) (7,462,900)
Property, Plant and Equipment, Net 24,576,900 23,890,800
Construction Work in Progress 1,727,500 1,719,600
Total Property, Plant and Equipment, Net 26,304,446 25,610,428
CL&P    
Public Utility, Property, Plant and Equipment [Line Items]    
Distribution - Electric 6,352,800 6,176,400
Transmission - Electric 4,880,600 4,700,500
Solar 0 0
Property, Plant and Equipment, Gross 11,233,400 10,876,900
Less: Accumulated Depreciation    
Total Accumulated Depreciation (2,352,200) (2,302,600)
Property, Plant and Equipment, Net 8,881,200 8,574,300
Construction Work in Progress 404,400 335,400
Total Property, Plant and Equipment, Net 9,285,633 8,909,701
NSTAR Electric    
Public Utility, Property, Plant and Equipment [Line Items]    
Distribution - Electric 6,921,300 6,756,400
Transmission - Electric 4,148,800 4,065,900
Solar 196,900 164,100
Property, Plant and Equipment, Gross 11,267,000 10,986,400
Less: Accumulated Depreciation    
Total Accumulated Depreciation (2,814,900) (2,702,000)
Property, Plant and Equipment, Net 8,452,100 8,284,400
Construction Work in Progress 623,700 510,300
Total Property, Plant and Equipment, Net 9,075,789 8,794,700
PSNH    
Public Utility, Property, Plant and Equipment [Line Items]    
Distribution - Electric 2,238,300 2,178,600
Transmission - Electric 1,415,200 1,338,700
Solar 0 0
Property, Plant and Equipment, Gross 3,653,500 3,517,300
Less: Accumulated Depreciation    
Total Accumulated Depreciation (806,400) (772,900)
Property, Plant and Equipment, Net 2,847,100 2,744,400
Construction Work in Progress 122,200 135,700
Total Property, Plant and Equipment, Net $ 2,969,347 $ 2,880,073
v3.19.2
DERIVATIVE INSTRUMENTS - Gross Fair Values and Net Amounts of Contracts (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Current Derivative Assets | CL&P | Level 3    
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]    
Commodity Supply and Price Risk Management $ 11.1 $ 9.6
Netting (0.3) (3.4)
Net Amount Recorded as a Derivative 10.8 6.2
Current Derivative Assets | Other | Level 2    
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]    
Commodity Supply and Price Risk Management 0.0 1.5
Netting 0.0 (0.9)
Net Amount Recorded as a Derivative 0.0 0.6
Long-term Derivative Assets | CL&P | Level 3    
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]    
Commodity Supply and Price Risk Management 71.8 74.2
Netting (2.2) (2.3)
Net Amount Recorded as a Derivative 69.6 71.9
Current Derivative Liabilities | CL&P | Level 3    
Current and Long-Term Derivative Liabilities    
Commodity Supply and Price Risk Management (62.1) (55.1)
Netting 0.0 0.0
Net Amount Recorded as a Derivative (62.1) (55.1)
Current Derivative Liabilities | Other | Level 2    
Current and Long-Term Derivative Liabilities    
Commodity Supply and Price Risk Management (2.4) 0.0
Netting 0.0 0.0
Net Amount Recorded as a Derivative (2.4) 0.0
Long-Term Derivative Liabilities | CL&P | Level 3    
Current and Long-Term Derivative Liabilities    
Commodity Supply and Price Risk Management (363.7) (379.5)
Netting 0.0 0.0
Net Amount Recorded as a Derivative (363.7) (379.5)
Long-Term Derivative Liabilities | Other | Level 2    
Current and Long-Term Derivative Liabilities    
Commodity Supply and Price Risk Management (0.1) 0.0
Netting 0.0 0.0
Net Amount Recorded as a Derivative $ (0.1) $ 0.0
v3.19.2
DERIVATIVE INSTRUMENTS - Narrative (Details)
MWh in Millions, MMBTU in Millions, $ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
USD ($)
MW
Jun. 30, 2018
USD ($)
Jun. 30, 2019
USD ($)
MMBTU
MWh
MW
Jun. 30, 2018
USD ($)
Dec. 31, 2018
MMBTU
MW
Derivative Instruments and Hedging Activities Disclosures [Line Items]          
Percentage of costs or benefits borne under capacity-related contracts by United Illuminated Company     20.00%    
Amount of power to be purchased under capacity-related contract (in MW) | MW 679   679   787
Amount of natural gas to be purchased under futures contracts | MMBTU     7.1   12.5
Gains (losses) on deferred as regulatory costs | $ $ (5.1) $ 8.6 $ (10.3) $ (27.5)  
Level 3 | Minimum          
Derivative Instruments and Hedging Activities Disclosures [Line Items]          
Percentage of exit price premiums related to derivative contracts     3.10%    
Level 3 | Maximum          
Derivative Instruments and Hedging Activities Disclosures [Line Items]          
Percentage of exit price premiums related to derivative contracts     14.60%    
CL&P          
Derivative Instruments and Hedging Activities Disclosures [Line Items]          
Percentage of costs or benefits borne under capacity-related contracts     80.00%    
Amount of energy to be purchased under renewable energy contract (mwh) | MWh     0.1    
v3.19.2
DERIVATIVE INSTRUMENTS - Summary of Level 3 Derivative Contracts and Significant Observable Inputs Used (Details) - CL&P - Level 3 - $ / KWmo
Jun. 30, 2019
Dec. 31, 2018
Capacity Prices | Minimum    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative measurement input 4.30 4.30
Capacity Prices | Maximum    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative measurement input 7.34 7.44
Forward Reserve | Minimum    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative measurement input 0.75 0.75
Forward Reserve | Maximum    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative measurement input 1.78 1.78
v3.19.2
DERIVATIVE INSTRUMENTS - Changes in the Level 3 Category of Derivative Assets Measured at Fair Value on a Recurring Basis (Details) - CL&P - Level 3 - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Derivatives, Net [Rollforward]        
Fair Value as of Beginning of Period $ (353.1) $ (386.5) $ (356.5) $ (362.3)
Net Realized/Unrealized (Losses)/Gains Included in Regulatory Assets (2.5) 8.6 (7.8) (28.2)
Settlements 10.2 8.6 18.9 21.2
Fair Value as of End of Period $ (345.4) $ (369.3) $ (345.4) $ (369.3)
v3.19.2
MARKETABLE SECURITIES - Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]          
Available-for-sale equity securities $ 45.2   $ 45.2   $ 44.0
Unrealized gains recorded in other income 2.3 $ 0.9 3.3 $ 0.2  
CYAPC and YAEC          
Debt Securities, Available-for-sale [Line Items]          
Available-for-sale equity securities 158.5   158.5   200.0
Marketable securities held in nuclear decommissioning trust $ 172.4   $ 172.4   $ 143.9
v3.19.2
MARKETABLE SECURITIES - Summary of Available-for-Sale Debt Securities (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]    
Amortized Cost $ 204.3 $ 190.0
Pre-Tax Unrealized Gains 5.4 0.4
Pre-Tax Unrealized Losses (0.1) (4.0)
Fair Value $ 209.6 $ 186.4
v3.19.2
MARKETABLE SECURITIES - Contractual Maturities of Available-for-Sale Debt Securities (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Amortized Cost    
Less than one year $ 26.9  
One to five years 48.8  
Six to ten years 38.4  
Greater than ten years 90.2  
Amortized Cost 204.3 $ 190.0
Fair Value    
Less than one year 26.9  
One to five years 49.6  
Six to ten years 40.0  
Greater than ten years 93.1  
Fair Value $ 209.6 $ 186.4
v3.19.2
MARKETABLE SECURITIES - Marketable Securities Recorded at Fair Value on a Recurring Basis by Level (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities $ 413.3 $ 430.4
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 224.2 269.9
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 189.1 160.5
Mutual Funds and Equities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 203.7 244.0
Money Market Funds | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 20.5 25.9
U.S. Government Issued Debt Securities (Agency and Treasury) | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 107.0 79.6
Corporate Debt Securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 46.1 39.5
Asset-Backed Debt Securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 13.4 14.0
Municipal Bonds | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 12.8 19.2
Other Fixed Income Securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities $ 9.8 $ 8.2
v3.19.2
SHORT-TERM AND LONG-TERM DEBT - Narrative (Details) - USD ($)
6 Months Ended
Jun. 30, 2019
Apr. 26, 2019
Dec. 31, 2018
Line of Credit Facility [Line Items]      
Current portion of long-term debt $ (779,289,000)   $ (837,319,000)
Long-term debt 13,039,180,000   12,248,743,000
NSTAR Electric      
Line of Credit Facility [Line Items]      
Current portion of long-term debt (95,000,000)   0
Long-term debt 3,246,535,000   2,944,846,000
CL&P      
Line of Credit Facility [Line Items]      
Notes payable to Eversource parent 259,400,000    
Current portion of long-term debt 0   (250,000,000)
Long-term debt 3,309,455,000   3,004,016,000
PSNH      
Line of Credit Facility [Line Items]      
Notes payable to Eversource parent 20,100,000   57,000,000.0
Amount of long-term debt approved for issuance   $ 300,000,000  
Current portion of long-term debt (150,000,000)   (150,000,000)
Long-term debt 951,834,000   655,173,000
HEEC      
Line of Credit Facility [Line Items]      
Notes payable to Eversource parent 40,300,000    
NSTAR Gas | Senior Notes | NSTAR Gas 3.74% Series Q First Mortgage Bonds | Adjustment      
Line of Credit Facility [Line Items]      
Current portion of long-term debt (75,000,000)    
Long-term debt 75,000,000    
Commercial Paper | NSTAR Electric      
Line of Credit Facility [Line Items]      
Maximum borrowing capacity 650,000,000    
Line of Credit      
Line of Credit Facility [Line Items]      
Amount outstanding under line of credit 0   0
Line of Credit | NSTAR Electric      
Line of Credit Facility [Line Items]      
Maximum borrowing capacity $ 650,000,000    
Debt instrument term 5 years    
Line of Credit | Aquarion      
Line of Credit Facility [Line Items]      
Maximum borrowing capacity $ 100,000,000    
Amount outstanding under line of credit 0   $ 0
Eversource Parent | Commercial Paper      
Line of Credit Facility [Line Items]      
Maximum borrowing capacity 1,450,000,000    
Eversource Parent | Line of Credit      
Line of Credit Facility [Line Items]      
Maximum borrowing capacity $ 1,450,000,000    
Debt instrument term 5 years    
v3.19.2
SHORT-TERM AND LONG-TERM DEBT - Borrowings Outstanding and Available under the Commercial Paper Programs (Details) - Commercial Paper - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Debt Instrument [Line Items]    
Borrowings outstanding $ 566.0 $ 631.5
Available borrowing capacity $ 884.0 $ 818.5
Weighted-average interest rate 2.55% 2.77%
NSTAR Electric    
Debt Instrument [Line Items]    
Borrowings outstanding $ 163.0 $ 278.5
Available borrowing capacity $ 487.0 $ 371.5
Weighted-average interest rate 2.42% 2.50%
v3.19.2
SHORT-TERM AND LONG-TERM DEBT - Summary of Long-Term Debt Issuance and Repayments (Details) - USD ($)
$ in Thousands
1 Months Ended 6 Months Ended
May 01, 2019
Feb. 01, 2019
Jul. 31, 2019
Jun. 30, 2019
Apr. 30, 2019
Jun. 30, 2019
Jun. 30, 2018
Feb. 01, 2009
Debt Instrument [Line Items]                
Repayments           $ (250,437) $ (860,421)  
CL&P                
Debt Instrument [Line Items]                
Repayments           (250,000) (300,000)  
CL&P | Senior Notes | 4.00% 2018 Series A First Mortgage Bonds                
Debt Instrument [Line Items]                
Issuances         $ 300,000      
Interest rate, stated percentage         4.00%      
CL&P | Senior Notes | 4.00% 2018 Series A First Mortgage Bonds | Eversource Parent                
Debt Instrument [Line Items]                
Long-term debt       $ 800,000   800,000    
CL&P | Senior Notes | 5.50% 2009 Series A First Mortgage Bonds                
Debt Instrument [Line Items]                
Repayments   $ (250,000)            
Interest rate, stated percentage               5.50%
NSTAR Electric | Senior Notes | 3.25% 2019 Debentures                
Debt Instrument [Line Items]                
Issuances $ 400,000              
Interest rate, stated percentage 3.25%              
PSNH                
Debt Instrument [Line Items]                
Repayments           $ 0 $ (110,000)  
PSNH | Senior Notes | 3.60% 2019 Series T First Mortgage Bonds                
Debt Instrument [Line Items]                
Issuances       $ 300,000        
Interest rate, stated percentage       3.60%   3.60%    
Other | Senior Notes | NSTAR Gas 3.74% Series Q First Mortgage Bonds | Subsequent Event                
Debt Instrument [Line Items]                
Issuances     $ 75,000          
Interest rate, stated percentage     3.74%          
v3.19.2
RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES - Narrative (Details) - PSNH - Rate Reduction Bonds
$ in Millions
May 08, 2018
USD ($)
Debt Instrument [Line Items]  
Amount of securitized rate reduction bonds issued $ 635.7
Weighted average interest rate 3.66%
v3.19.2
RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES - Summary of the Impact of Funding on the Balance Sheets (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Condensed Balance Sheet Statements, Captions [Line Items]    
Securitized Stranded Costs (included in Regulatory Assets) $ 4,919,500 $ 5,145,900
Regulatory Liabilities 3,639,792 3,609,475
Accrued Interest (included in Other Current Liabilities) 677,341 823,006
Rate Reduction Bonds - Current Portion 43,210 52,332
Rate Reduction Bonds - Long-Term Portion 561,727 583,331
Securitized Stranded Costs    
Condensed Balance Sheet Statements, Captions [Line Items]    
Securitized Stranded Costs (included in Regulatory Assets) 586,900 608,400
Other Regulatory Assets    
Condensed Balance Sheet Statements, Captions [Line Items]    
Securitized Stranded Costs (included in Regulatory Assets) 148,800 208,000
Prepayments and Other Current Assets    
Condensed Balance Sheet Statements, Captions [Line Items]    
Restricted Cash 54,100 72,100
Other Long-Term Assets    
Condensed Balance Sheet Statements, Captions [Line Items]    
Restricted Cash 72,000 3,200
PSNH    
Condensed Balance Sheet Statements, Captions [Line Items]    
Securitized Stranded Costs (included in Regulatory Assets) 905,800 929,500
Regulatory Liabilities 416,999 428,069
Accrued Interest (included in Other Current Liabilities) 45,414 64,046
Rate Reduction Bonds - Current Portion 43,210 52,332
Rate Reduction Bonds - Long-Term Portion 561,727 583,331
PSNH | Securitized Stranded Costs    
Condensed Balance Sheet Statements, Captions [Line Items]    
Securitized Stranded Costs (included in Regulatory Assets) 586,900 608,400
PSNH | Other Regulatory Assets    
Condensed Balance Sheet Statements, Captions [Line Items]    
Securitized Stranded Costs (included in Regulatory Assets) 17,700 12,100
PSNH | Prepayments and Other Current Assets    
Condensed Balance Sheet Statements, Captions [Line Items]    
Restricted Cash 35,000 47,500
PSNH | Other Long-Term Assets    
Condensed Balance Sheet Statements, Captions [Line Items]    
Restricted Cash 3,200 3,200
PSNH | VIE    
Condensed Balance Sheet Statements, Captions [Line Items]    
Rate Reduction Bonds - Current Portion 43,200 52,300
Rate Reduction Bonds - Long-Term Portion 561,700 583,300
PSNH | VIE | Securitized Stranded Costs    
Condensed Balance Sheet Statements, Captions [Line Items]    
Securitized Stranded Costs (included in Regulatory Assets) 586,900 608,400
PSNH | VIE | Other Regulatory Assets    
Condensed Balance Sheet Statements, Captions [Line Items]    
Regulatory Liabilities 7,900 5,800
Accrued Interest (included in Other Current Liabilities) 8,900 14,400
PSNH | VIE | Prepayments and Other Current Assets    
Condensed Balance Sheet Statements, Captions [Line Items]    
Restricted Cash 35,000 47,500
PSNH | VIE | Other Long-Term Assets    
Condensed Balance Sheet Statements, Captions [Line Items]    
Restricted Cash $ 3,200 $ 3,200
v3.19.2
RATE REDUCTION BONDS AND VARIABLE INTEREST ENTITIES - Summary of the Impact of Funding on the Income Statements (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Condensed Income Statements, Captions [Line Items]        
Interest Expense on RRB Principal (included in Interest Expense) $ 132,705 $ 126,404 $ 264,438 $ 247,533
PSNH        
Condensed Income Statements, Captions [Line Items]        
Amortization of RRB Principal (included in Amortization of Regulatory Assets, Net) 5,857 8,926 19,523 13,961
Interest Expense on RRB Principal (included in Interest Expense) 13,909 14,612 28,276 27,386
PSNH | VIE | Rate Reduction Bonds        
Condensed Income Statements, Captions [Line Items]        
Amortization of RRB Principal (included in Amortization of Regulatory Assets, Net) 10,800 6,800 21,500 6,800
Interest Expense on RRB Principal (included in Interest Expense) $ 5,300 $ 2,800 $ 10,700 $ 2,800
v3.19.2
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSION (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Pension and SERP        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Service Cost $ 16.1 $ 20.7 $ 35.4 $ 43.1
Interest Cost 54.8 49.1 109.1 97.8
Expected Return on Pension Plan Assets (91.7) (97.9) (183.8) (195.8)
Actuarial Loss 35.6 35.7 72.1 71.8
Prior Service Cost/(Credit) 0.3 2.1 0.6 4.1
Total Net Periodic Benefit Expense/(Income) 15.1 9.7 33.4 21.0
PBOP        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Service Cost 1.8 2.5 3.9 5.0
Interest Cost 8.2 6.8 16.3 14.4
Expected Return on Pension Plan Assets (16.8) (16.7) (33.4) (34.8)
Actuarial Loss 1.6 1.6 4.1 4.4
Prior Service Cost/(Credit) (5.8) (5.7) (11.6) (11.5)
Total Net Periodic Benefit Expense/(Income) (11.0) (11.5) (20.7) (22.5)
CL&P | Pension and SERP        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Service Cost 4.4 5.2 9.2 11.0
Interest Cost 11.4 10.5 23.0 20.9
Expected Return on Pension Plan Assets (18.1) (19.4) (36.9) (40.2)
Actuarial Loss 6.3 7.1 14.3 14.8
Prior Service Cost/(Credit) 0.0 0.2 0.0 0.6
Total Net Periodic Benefit Expense/(Income) 4.0 3.6 9.6 7.1
Intercompany Allocations 5.8 1.5 13.6 3.0
CL&P | PBOP        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Service Cost 0.3 0.4 0.7 0.9
Interest Cost 1.6 1.5 3.1 2.9
Expected Return on Pension Plan Assets (2.3) (2.6) (4.5) (5.2)
Actuarial Loss 0.3 0.4 0.7 0.8
Prior Service Cost/(Credit) 0.3 0.3 0.5 0.5
Total Net Periodic Benefit Expense/(Income) 0.2 0.0 0.5 (0.1)
Intercompany Allocations (0.3) (0.2) (0.4) (0.5)
NSTAR Electric | Pension and SERP        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Service Cost 3.6 4.3 7.5 9.0
Interest Cost 12.3 10.9 24.2 21.7
Expected Return on Pension Plan Assets (24.2) (26.6) (48.6) (51.8)
Actuarial Loss 11.8 10.1 21.2 20.7
Prior Service Cost/(Credit) 0.0 0.1 0.1 0.1
Total Net Periodic Benefit Expense/(Income) 3.5 (1.2) 4.4 (0.3)
Intercompany Allocations 5.3 1.6 8.4 3.2
NSTAR Electric | PBOP        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Service Cost 0.4 0.5 0.9 1.0
Interest Cost 2.4 2.2 4.7 4.4
Expected Return on Pension Plan Assets (7.5) (8.1) (15.1) (16.2)
Actuarial Loss 0.7 0.4 1.7 1.1
Prior Service Cost/(Credit) (4.2) (4.3) (8.5) (8.5)
Total Net Periodic Benefit Expense/(Income) (8.2) (9.3) (16.3) (18.2)
Intercompany Allocations (0.4) (0.3) (0.6) (0.7)
PSNH | Pension and SERP        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Service Cost 1.5 2.7 4.1 5.7
Interest Cost 6.0 5.5 12.2 10.9
Expected Return on Pension Plan Assets (10.1) (10.8) (20.4) (21.8)
Actuarial Loss 2.3 3.3 5.9 6.5
Prior Service Cost/(Credit) 0.0 0.1 0.0 0.2
Total Net Periodic Benefit Expense/(Income) (0.3) 0.8 1.8 1.5
Intercompany Allocations 0.0 0.5 2.5 1.0
PSNH | PBOP        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Service Cost 0.1 0.3 0.4 0.6
Interest Cost 0.8 0.9 1.7 1.6
Expected Return on Pension Plan Assets (1.3) (1.5) (2.8) (3.0)
Actuarial Loss 0.0 0.2 0.2 0.4
Prior Service Cost/(Credit) 0.1 0.1 0.2 0.3
Total Net Periodic Benefit Expense/(Income) (0.3) 0.0 (0.3) (0.1)
Intercompany Allocations $ (0.1) $ (0.1) $ (0.2) $ (0.2)
v3.19.2
COMMITMENTS AND CONTINGENCIES - Environmental Sites and Related Reserves (Details)
$ in Millions
6 Months Ended 12 Months Ended
Jun. 30, 2019
USD ($)
site
Dec. 31, 2018
USD ($)
site
Site Contingency [Line Items]    
Number of Sites | site 58 60
Reserve | $ $ 71.6 $ 64.7
CL&P    
Site Contingency [Line Items]    
Number of Sites | site 15 15
Reserve | $ $ 5.8 $ 5.4
NSTAR Electric    
Site Contingency [Line Items]    
Number of Sites | site 15 16
Reserve | $ $ 10.5 $ 10.9
PSNH    
Site Contingency [Line Items]    
Number of Sites | site 9 9
Reserve | $ $ 5.4 $ 5.4
v3.19.2
COMMITMENTS AND CONTINGENCIES - Environmental Matters (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Site Contingency [Line Items]    
Reserve balance $ 71.6 $ 64.7
MGP Sites    
Site Contingency [Line Items]    
Reserve balance $ 57.1 $ 50.1
v3.19.2
COMMITMENTS AND CONTINGENCIES - Long-Term Contractual Arrangements (Details) - Milestone Nuclear Power Station
MWh in Millions
Mar. 15, 2019
megawatt
Dec. 28, 2018
MWh
Long-term Purchase Commitment [Line Items]    
Annual purchase requirement (in MWh) | MWh   9
Percent of the facility's output required to be purchased 50.00%  
Nameplate capacity (in megawatts) | megawatt 2,112  
CL&P    
Long-term Purchase Commitment [Line Items]    
Contract term 10 years 10 years
Percent of the facility's output required to be purchased 40.00%  
UI    
Long-term Purchase Commitment [Line Items]    
Contract term 10 years 10 years
v3.19.2
COMMITMENTS AND CONTINGENCIES - Guarantees and Indemnifications (Details)
Jun. 30, 2019
USD ($)
Guarantee of Financial Obligations of NPT  
Guarantor Obligations [Line Items]  
Maximum exposure (up to) $ 25,000,000
Guarantee of NPT Letters of Credit  
Guarantor Obligations [Line Items]  
Maximum exposure (up to) $ 14,000,000
v3.19.2
COMMITMENTS AND CONTINGENCIES - Summary of Exposure to Guaruantees and Indemnifications (Details)
$ in Millions
Jun. 30, 2019
USD ($)
Eversource Investment LLC - Declining Balance Guarantee for North East Offshore  
Loss Contingencies [Line Items]  
Maximum exposure $ 113.9
Various - Surety Bonds  
Loss Contingencies [Line Items]  
Maximum exposure 34.0
Rocky River Realty Company and Eversource Service - Lease Payments for Real Estate  
Loss Contingencies [Line Items]  
Maximum exposure 7.1
Bay State Wind LLC - Real Estate Purchase  
Loss Contingencies [Line Items]  
Maximum exposure $ 2.5
v3.19.2
COMMITMENTS AND CONTINGENCIES - Spent Nuclear Fuel Obligations - Yankee Companies (Details) - USD ($)
$ in Millions
1 Months Ended
Jun. 12, 2019
Feb. 21, 2019
May 22, 2017
Jul. 31, 2019
Loss Contingencies [Line Items]        
Damages awarded $ 0.5      
Remaining damages sought   $ 1.0    
Subsequent Event        
Loss Contingencies [Line Items]        
Damages paid       $ 0.5
CYAPC, YAEC, and MYAPC        
Loss Contingencies [Line Items]        
Damages sought     $ 104.4  
Damages awarded   103.2    
CYAPC        
Loss Contingencies [Line Items]        
Damages awarded   40.7    
YAEC        
Loss Contingencies [Line Items]        
Damages awarded   28.1    
MYAPC        
Loss Contingencies [Line Items]        
Damages awarded   $ 34.4    
v3.19.2
COMMITMENTS AND CONTINGENCIES - FERC ROE Complaints (Details) - USD ($)
$ in Millions
6 Months Ended 36 Months Ended
Apr. 29, 2016
Oct. 16, 2014
Jun. 30, 2019
Oct. 15, 2014
Loss Contingencies [Line Items]        
Percentage of base ROE reasonably justified     10.41%  
Percentage of incentive cap on total ROE     13.08%  
Minimum        
Loss Contingencies [Line Items]        
Percentage of base ROE reasonably justified     9.60%  
Maximum        
Loss Contingencies [Line Items]        
Percentage of base ROE reasonably justified     10.99%  
FERC ROE First, Second and Third Complaints        
Loss Contingencies [Line Items]        
Base ROE subsequently authorized     11.14%  
FERC ROE First, Second and Third Complaints | Minimum        
Loss Contingencies [Line Items]        
Percentage of maximum ROE for any incentive project       11.14%
FERC ROE First, Second and Third Complaints | Maximum        
Loss Contingencies [Line Items]        
Percentage of maximum ROE for any incentive project       13.10%
FERC ROE Complaints        
Loss Contingencies [Line Items]        
Period of complaint     15 months  
Basis point change     0.10%  
Estimate of possible loss for each 10 basis point change to base ROE     $ 3.0  
FERC ROE Fourth Complaint        
Loss Contingencies [Line Items]        
Base ROE percentage of complaint period 10.57%      
Maximum percentage cap of ROE for incentive projects 11.74%      
FERC ROE First Complaint        
Loss Contingencies [Line Items]        
Base ROE subsequently authorized   10.57%    
Percentage of maximum ROE for any incentive project   11.74%    
Amounts associated with first complaint refunded     38.9  
FERC ROE First Complaint | CL&P        
Loss Contingencies [Line Items]        
Amounts associated with first complaint refunded     22.4  
FERC ROE First Complaint | NSTAR Electric        
Loss Contingencies [Line Items]        
Amounts associated with first complaint refunded     13.7  
FERC ROE First Complaint | PSNH        
Loss Contingencies [Line Items]        
Amounts associated with first complaint refunded     $ 2.8  
FERC ROE Second Complaint        
Loss Contingencies [Line Items]        
Base ROE percentage of complaint period     10.57%  
Percentage of maximum ROE for any incentive project     11.74%  
Loss contingency, estimate of possible earnings impact     $ 39.1  
FERC ROE Second Complaint | CL&P        
Loss Contingencies [Line Items]        
Loss contingency, estimate of possible earnings impact     21.4  
FERC ROE Second Complaint | NSTAR Electric        
Loss Contingencies [Line Items]        
Loss contingency, estimate of possible earnings impact     14.6  
FERC ROE Second Complaint | PSNH        
Loss Contingencies [Line Items]        
Loss contingency, estimate of possible earnings impact     $ 3.1  
v3.19.2
COMMITMENTS AND CONTINGENCIES - Eversource and NSTAR Electric Boston Harbor Civil Action (Details)
$ in Millions
12 Months Ended
Jul. 15, 2016
USD ($)
kV
Dec. 31, 2018
USD ($)
Loss Contingencies [Line Items]    
Amount of capacity required for installation of distribution cable (in kV) | kV 115  
NSTAR Electric    
Loss Contingencies [Line Items]    
Base rate credit for new cable | $ $ 17.5 $ 17.5
v3.19.2
LEASES - Narrative (Details)
6 Months Ended
Jun. 30, 2019
Minimum  
Lessee, Lease, Description [Line Items]  
Renewal period 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Renewal period 20 years
CL&P | Minimum  
Lessee, Lease, Description [Line Items]  
Renewal period 1 year
CL&P | Maximum  
Lessee, Lease, Description [Line Items]  
Renewal period 20 years
NSTAR Electric | Minimum  
Lessee, Lease, Description [Line Items]  
Renewal period 1 year
NSTAR Electric | Maximum  
Lessee, Lease, Description [Line Items]  
Renewal period 20 years
PSNH | Minimum  
Lessee, Lease, Description [Line Items]  
Renewal period 1 year
PSNH | Maximum  
Lessee, Lease, Description [Line Items]  
Renewal period 20 years
v3.19.2
LEASES - Components of Lease Cost (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2019
Financing Lease Cost:    
Amortization of Right-of-use-Assets $ 0.4 $ 0.7
Interest on Lease Liabilities 0.3 0.7
Total Finance Lease Cost 0.7 1.4
Operating Lease Cost 2.9 5.9
Variable Lease Cost 15.7 31.1
Total Lease Cost 19.3 38.4
CL&P    
Financing Lease Cost:    
Amortization of Right-of-use-Assets 0.2 0.4
Interest on Lease Liabilities 0.1 0.3
Total Finance Lease Cost 0.3 0.7
Operating Lease Cost 0.1 0.1
Variable Lease Cost 3.1 6.5
Total Lease Cost 3.5 7.3
NSTAR Electric    
Financing Lease Cost:    
Amortization of Right-of-use-Assets 0.0 0.1
Interest on Lease Liabilities 0.2 0.3
Total Finance Lease Cost 0.2 0.4
Operating Lease Cost 0.5 0.9
Variable Lease Cost 0.0 0.0
Total Lease Cost 0.7 1.3
PSNH    
Financing Lease Cost:    
Amortization of Right-of-use-Assets 0.0 0.0
Interest on Lease Liabilities 0.0 0.0
Total Finance Lease Cost 0.0 0.0
Operating Lease Cost 0.0 0.0
Variable Lease Cost 12.6 24.6
Total Lease Cost $ 12.6 $ 24.6
v3.19.2
LEASES - Supplemental Balance Sheet Information Related to Leases (Details)
$ in Millions
Jun. 30, 2019
USD ($)
Operating Leases:  
Operating Lease Right-of-use-Assets, Net $ 54.6
Operating Lease Liabilities - Current Portion 8.8
Operating Lease Liabilities - Long-Term 45.8
Total Operating Lease Liabilities 54.6
Finance Leases:  
Finance Lease Right-of-use-Assets, Net 9.4
Finance Lease Liabilities - Current Portion 2.3
Finance Lease Liabilities - Long-Term 9.3
Total Finance Lease Liabilities 11.6
CL&P  
Operating Leases:  
Operating Lease Right-of-use-Assets, Net 0.6
Operating Lease Liabilities - Current Portion 0.2
Operating Lease Liabilities - Long-Term 0.4
Total Operating Lease Liabilities 0.6
Finance Leases:  
Finance Lease Right-of-use-Assets, Net 2.6
Finance Lease Liabilities - Current Portion 1.5
Finance Lease Liabilities - Long-Term 2.3
Total Finance Lease Liabilities 3.8
NSTAR Electric  
Operating Leases:  
Operating Lease Right-of-use-Assets, Net 24.4
Operating Lease Liabilities - Current Portion 0.5
Operating Lease Liabilities - Long-Term 23.9
Total Operating Lease Liabilities 24.4
Finance Leases:  
Finance Lease Right-of-use-Assets, Net 3.4
Finance Lease Liabilities - Current Portion 0.0
Finance Lease Liabilities - Long-Term 4.4
Total Finance Lease Liabilities 4.4
PSNH  
Operating Leases:  
Operating Lease Right-of-use-Assets, Net 0.8
Operating Lease Liabilities - Current Portion 0.2
Operating Lease Liabilities - Long-Term 0.6
Total Operating Lease Liabilities 0.8
Finance Leases:  
Finance Lease Right-of-use-Assets, Net 0.9
Finance Lease Liabilities - Current Portion 0.1
Finance Lease Liabilities - Long-Term 0.8
Total Finance Lease Liabilities $ 0.9
v3.19.2
LEASES - Other Information Related to Leases (Details)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
USD ($)
Jun. 30, 2019
USD ($)
Weighted-Average Remaining Lease Term:    
Operating Leases 12 years 12 years
Financing Leases 11 years 11 years
Weighted-Average Discount Rate:    
Operating Leases 3.90% 3.90%
Financing Leases 4.30% 4.30%
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:    
Operating Cash Flows from Operating Leases $ 3.0 $ 5.9
Operating Cash Flows from Finance Leases 0.3 0.6
Financing Cash Flows from Finance Leases 0.5 0.9
Supplemental Non-Cash Information on Lease Liabilities:    
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities 0.4 1.7
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities $ 1.3 $ 1.3
CL&P    
Weighted-Average Remaining Lease Term:    
Operating Leases 4 years 4 years
Financing Leases 2 years 2 years
Weighted-Average Discount Rate:    
Operating Leases 2.70% 2.70%
Financing Leases 10.50% 10.50%
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:    
Operating Cash Flows from Operating Leases $ 0.1 $ 0.1
Operating Cash Flows from Finance Leases 0.1 0.3
Financing Cash Flows from Finance Leases 0.4 0.7
Supplemental Non-Cash Information on Lease Liabilities:    
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities 0.2 0.2
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities $ 0.0 $ 0.0
NSTAR Electric    
Weighted-Average Remaining Lease Term:    
Operating Leases 21 years 21 years
Financing Leases 23 years 23 years
Weighted-Average Discount Rate:    
Operating Leases 4.10% 4.10%
Financing Leases 2.90% 2.90%
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:    
Operating Cash Flows from Operating Leases $ 0.5 $ 0.8
Operating Cash Flows from Finance Leases 0.1 0.3
Financing Cash Flows from Finance Leases 0.0 0.0
Supplemental Non-Cash Information on Lease Liabilities:    
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities 0.0 0.0
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities $ 0.0 $ 0.0
PSNH    
Weighted-Average Remaining Lease Term:    
Operating Leases 8 years 8 years
Financing Leases 9 years 9 years
Weighted-Average Discount Rate:    
Operating Leases 3.60% 3.60%
Financing Leases 3.50% 3.50%
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:    
Operating Cash Flows from Operating Leases $ 0.0 $ 0.0
Operating Cash Flows from Finance Leases 0.0 0.0
Financing Cash Flows from Finance Leases 0.0 0.0
Supplemental Non-Cash Information on Lease Liabilities:    
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities 0.2 0.2
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities $ 0.0 $ 0.0
v3.19.2
LEASES - Future Minimum Lease Payments under Long-Term Leases (Details)
$ in Millions
Jun. 30, 2019
USD ($)
Operating Leases  
July 1, 2019 through December 31, 2019 $ 5.7
Year Ending December 31,  
2020 10.3
2021 9.2
2022 7.5
2023 4.9
2024 2.9
Thereafter 29.2
Future lease payments 69.7
Less amount representing interest 15.1
Present value of future minimum lease payments 54.6
Finance Leases  
July 1, 2019 through December 31, 2019 1.7
Year Ending December 31,  
2020 3.4
2021 2.9
2022 1.5
2023 0.7
2024 0.7
Thereafter 13.2
Future lease payments 24.1
Less amount representing interest 12.5
Present value of future minimum lease payments 11.6
CL&P  
Operating Leases  
July 1, 2019 through December 31, 2019 0.3
Year Ending December 31,  
2020 0.2
2021 0.1
2022 0.0
2023 0.0
2024 0.0
Thereafter 0.1
Future lease payments 0.7
Less amount representing interest 0.1
Present value of future minimum lease payments 0.6
Finance Leases  
July 1, 2019 through December 31, 2019 1.0
Year Ending December 31,  
2020 2.0
2021 1.5
2022 0.0
2023 0.0
2024 0.0
Thereafter 0.0
Future lease payments 4.5
Less amount representing interest 0.7
Present value of future minimum lease payments 3.8
NSTAR Electric  
Operating Leases  
July 1, 2019 through December 31, 2019 0.8
Year Ending December 31,  
2020 1.6
2021 1.6
2022 1.6
2023 1.6
2024 1.7
Thereafter 28.9
Future lease payments 37.8
Less amount representing interest 13.4
Present value of future minimum lease payments 24.4
Finance Leases  
July 1, 2019 through December 31, 2019 0.3
Year Ending December 31,  
2020 0.5
2021 0.5
2022 0.6
2023 0.6
2024 0.6
Thereafter 12.8
Future lease payments 15.9
Less amount representing interest 11.5
Present value of future minimum lease payments 4.4
PSNH  
Operating Leases  
July 1, 2019 through December 31, 2019 0.2
Year Ending December 31,  
2020 0.2
2021 0.2
2022 0.1
2023 0.1
2024 0.0
Thereafter 0.2
Future lease payments 1.0
Less amount representing interest 0.2
Present value of future minimum lease payments 0.8
Finance Leases  
July 1, 2019 through December 31, 2019 0.1
Year Ending December 31,  
2020 0.1
2021 0.1
2022 0.1
2023 0.1
2024 0.1
Thereafter 0.4
Future lease payments 1.0
Less amount representing interest 0.1
Present value of future minimum lease payments $ 0.9
v3.19.2
LEASES - Future Minimum Rental Payments under Operating Leases (Details)
$ in Millions
Dec. 31, 2018
USD ($)
Operating Leased Assets [Line Items]  
2019 $ 11.5
2020 9.8
2021 8.7
2022 7.2
2023 4.7
Thereafter 32.7
Future minimum lease payments 74.6
CL&P  
Operating Leased Assets [Line Items]  
2019 1.5
2020 1.4
2021 1.2
2022 1.1
2023 0.5
Thereafter 0.2
Future minimum lease payments 5.9
NSTAR Electric  
Operating Leased Assets [Line Items]  
2019 7.2
2020 6.0
2021 5.3
2022 4.4
2023 3.1
Thereafter 29.5
Future minimum lease payments 55.5
PSNH  
Operating Leased Assets [Line Items]  
2019 0.5
2020 0.4
2021 0.4
2022 0.4
2023 0.2
Thereafter 0.3
Future minimum lease payments $ 2.2
v3.19.2
LEASES - Future Minimum Rental Payments under Capital Leases (Details)
$ in Millions
Dec. 31, 2018
USD ($)
Capital Leased Assets [Line Items]  
2019 $ 3.4
2020 3.4
2021 2.9
2022 1.5
2023 0.7
Thereafter 13.9
Future minimum lease payments 25.8
Less amount representing interest 13.8
Present value of future minimum lease payments 12.0
CL&P  
Capital Leased Assets [Line Items]  
2019 2.0
2020 2.0
2021 1.5
2022 0.0
2023 0.0
Thereafter 0.0
Future minimum lease payments 5.5
Less amount representing interest 1.0
Present value of future minimum lease payments 4.5
NSTAR Electric  
Capital Leased Assets [Line Items]  
2019 0.5
2020 0.5
2021 0.5
2022 0.6
2023 0.6
Thereafter 13.4
Future minimum lease payments 16.1
Less amount representing interest 12.4
Present value of future minimum lease payments 3.7
PSNH  
Capital Leased Assets [Line Items]  
2019 0.1
2020 0.1
2021 0.1
2022 0.1
2023 0.1
Thereafter 0.5
Future minimum lease payments 1.0
Less amount representing interest 0.1
Present value of future minimum lease payments $ 0.9
v3.19.2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption $ 155,570 $ 155,570
Rate Reduction Bonds 561,727 583,331
Carrying Amount    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption 155,600 155,600
Long-Term Debt 13,818,500 13,086,100
Rate Reduction Bonds 604,900 635,700
Fair Value | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption 161,000 156,800
Long-Term Debt 14,639,400 13,154,900
Rate Reduction Bonds 642,200 645,800
CL&P    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption 116,200 116,200
CL&P | Carrying Amount    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption 116,200 116,200
Long-Term Debt 3,309,500 3,254,000
Rate Reduction Bonds 0 0
CL&P | Fair Value | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption 117,400 113,800
Long-Term Debt 3,724,900 3,429,200
Rate Reduction Bonds 0 0
NSTAR Electric    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption 43,000 43,000
NSTAR Electric | Carrying Amount    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption 43,000 43,000
Long-Term Debt 3,341,500 2,944,800
Rate Reduction Bonds 0 0
NSTAR Electric | Fair Value | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption 43,600 43,000
Long-Term Debt 3,599,600 3,024,100
Rate Reduction Bonds 0 0
PSNH    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Rate Reduction Bonds 561,727 583,331
PSNH | Carrying Amount    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption 0 0
Long-Term Debt 1,101,800 805,200
Rate Reduction Bonds 604,900 635,700
PSNH | Fair Value | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Preferred Stock Not Subject to Mandatory Redemption 0 0
Long-Term Debt 1,145,300 819,500
Rate Reduction Bonds $ 642,200 $ 645,800
v3.19.2
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
AOCI Attributable to Parent [Roll Forward]            
OCI Before Reclassifications         $ 3,700 $ 2,000
Amounts Reclassified from AOCI         2,700 3,400
Other Comprehensive Income, Net of Tax $ 4,163 $ 2,196 $ 2,142 $ 3,273 6,359 5,415
Total            
AOCI Attributable to Parent [Roll Forward]            
Balance   (60,000)   (66,400) (60,000) (66,400)
Other Comprehensive Income, Net of Tax 4,163 2,196 2,142 3,273    
Balance (53,600)   (61,000)   (53,600) (61,000)
Qualified Cash Flow Hedging Instruments            
AOCI Attributable to Parent [Roll Forward]            
Balance   (4,400)   (6,200) (4,400) (6,200)
OCI Before Reclassifications         0 0
Amounts Reclassified from AOCI         600 1,200
Other Comprehensive Income, Net of Tax         600 1,200
Balance (3,800)   (5,000)   (3,800) (5,000)
Unrealized Gains/(Losses) on Marketable Securities            
AOCI Attributable to Parent [Roll Forward]            
Balance   (500)   0 (500) 0
OCI Before Reclassifications         1,100 (600)
Amounts Reclassified from AOCI         0 0
Other Comprehensive Income, Net of Tax         1,100 (600)
Balance 600   (600)   600 (600)
Defined Benefit Plans            
AOCI Attributable to Parent [Roll Forward]            
Balance   $ (55,100)   $ (60,200) (55,100) (60,200)
OCI Before Reclassifications         2,600 2,600
Amounts Reclassified from AOCI         2,100 2,200
Other Comprehensive Income, Net of Tax         4,700 4,800
Balance $ (50,400)   $ (55,400)   $ (50,400) $ (55,400)
v3.19.2
COMMON SHARES - Common Shares Authorized and Issued (Details) - $ / shares
Jun. 30, 2019
Dec. 31, 2018
Class of Stock [Line Items]    
Per value (in dollars per share) $ 5  
Authorized (in shares) 380,000,000 380,000,000
Issued (in shares) 339,858,402 333,878,402
CL&P    
Class of Stock [Line Items]    
Per value (in dollars per share) $ 10  
Authorized (in shares) 24,500,000 24,500,000
Issued (in shares) 6,035,205 6,035,205
NSTAR Electric    
Class of Stock [Line Items]    
Per value (in dollars per share) $ 1  
Authorized (in shares) 100,000,000 100,000,000
Issued (in shares) 200 200
PSNH    
Class of Stock [Line Items]    
Per value (in dollars per share) $ 1  
Authorized (in shares) 100,000,000 100,000,000
Issued (in shares) 301 301
v3.19.2
COMMON SHARES - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
6 Months Ended
Jun. 04, 2019
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Equity [Abstract]        
Equity offering (in shares) 17,940,000      
Common shares issued directly by the Company (in shares) 5,980,000      
Common shares issuable pursuant to forward sale agreement (in shares) 11,960,000      
Net proceeds from common shares issued directly by the Company $ 426,900 $ 426,902 $ 0  
Forward sale price (in dollars per share) $ 71.48      
Amount that would have been required to be paid if net settled   $ 50,200    
Shares that would have been required to be delivered if net settled (in shares)   662,694    
Treasury stock (in shares)   16,283,963   16,992,594
Common stock outstanding (in shares)   323,574,439   316,885,808
v3.19.2
COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Equity [Abstract]              
Dividends on preferred stock $ 1,880 $ 1,880 $ 1,880 $ 1,880 $ 3,800 $ 3,800  
Noncontrolling interest attributed to preferred stock of subsidiaries $ 155,570       $ 155,570   $ 155,570
v3.19.2
EARNINGS PER SHARE (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Earnings Per Share [Abstract]        
Net Income Attributable to Common Shareholders $ 31,454 $ 242,767 $ 340,132 $ 512,313
Weighted Average Common Shares Outstanding:        
Basic (in shares) 319,664,998 317,344,596 318,644,796 317,370,825
Dilutive Effect of:        
Share-Based Compensation Awards and Other (in shares) 645,450 540,591 668,470 568,269
Equity Forward Sale Agreement (in shares) 78,042 0 39,021 0
Dilutive Effect (in shares) 723,492 540,591 707,491 568,269
Diluted (in shares) 320,388,490 317,885,187 319,352,287 317,939,094
Basic and Diluted EPS (in dollars per share) $ 0.10 $ 0.76 $ 1.07 $ 1.61
v3.19.2
REVENUES (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers $ 1,868,200 $ 1,860,600 $ 4,265,600 $ 4,138,900
Alternative Revenue Programs 10,100 (11,900) 24,800 (5,400)
Other Revenues 6,200 5,200 9,900 8,300
Operating Revenues 1,884,495 1,853,856 4,300,287 4,141,818
Lease revenue 1,100   2,200  
Residential        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 938,800 930,800 2,257,900 2,201,300
Commercial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 697,400 705,700 1,506,900 1,466,000
Industrial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 103,100 110,600 214,500 220,100
Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 1,739,300 1,747,100 3,979,300 3,887,400
Transmission Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 56,100 55,400 123,700 120,500
Wholesale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 54,700 47,200 128,800 124,300
Other Revenues from Contracts with Customers        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 20,300 22,200 38,000 43,200
Reserve for Revenues Subject to Refund        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers (2,200) (11,300) (4,200) (36,500)
Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers      
Operating Revenues      
Operating Segments | Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers      
Other        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 250,800 237,000 509,000 467,900
Alternative Revenue Programs 0 0 0 0
Other Revenues 0 0 0 0
Operating Revenues 250,800 237,000 509,000 467,900
Other | Residential        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Other | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Other | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Other | Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Other | Transmission Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 14,700 12,600 28,300 22,700
Other | Wholesale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Other | Other Revenues from Contracts with Customers        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 236,100 224,400 480,700 445,200
Other | Reserve for Revenues Subject to Refund        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Eliminations        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers (480,300) (497,500) (1,000,400) (980,100)
Alternative Revenue Programs (58,800) (2,900) (69,800) 7,700
Other Revenues 0 0 0 0
Operating Revenues (539,100) (500,400) (1,070,200) (972,400)
Eliminations | Residential        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Eliminations | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers (900) (2,000) (2,000) (2,100)
Eliminations | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers (2,800) (2,400) (5,500) (5,000)
Eliminations | Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers (3,700) (4,400) (7,500) (7,100)
Eliminations | Transmission Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers (239,800) (268,000) (510,700) (526,700)
Eliminations | Wholesale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Eliminations | Other Revenues from Contracts with Customers        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers (236,800) (225,100) (482,200) (446,300)
Eliminations | Reserve for Revenues Subject to Refund        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Electric Distribution | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 1,550,500 1,550,100 3,379,400 3,293,500
Alternative Revenue Programs 6,300 (14,400) 8,400 (5,700)
Other Revenues 5,000 4,200 7,800 6,700
Operating Revenues 1,561,800 1,539,900 3,395,600 3,294,500
Electric Distribution | Operating Segments | Residential        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 805,000 794,400 1,838,300 1,788,700
Electric Distribution | Operating Segments | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 612,800 622,000 1,265,300 1,233,400
Electric Distribution | Operating Segments | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 81,300 88,400 163,400 169,900
Electric Distribution | Operating Segments | Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 1,499,100 1,504,800 3,267,000 3,192,000
Electric Distribution | Operating Segments | Transmission Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Electric Distribution | Operating Segments | Wholesale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 39,400 34,200 90,800 92,700
Electric Distribution | Operating Segments | Other Revenues from Contracts with Customers        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 15,100 18,400 27,700 35,300
Electric Distribution | Operating Segments | Reserve for Revenues Subject to Refund        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers (3,100) (7,300) (6,100) (26,500)
Natural Gas Distribution | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 209,500 205,600 667,400 631,700
Alternative Revenue Programs (2,700) 100 7,700 (1,700)
Other Revenues 900 800 1,500 1,400
Operating Revenues 207,700 206,500 676,600 631,400
Natural Gas Distribution | Operating Segments | Residential        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 100,200 104,100 359,100 352,900
Natural Gas Distribution | Operating Segments | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 69,500 70,000 213,300 204,700
Natural Gas Distribution | Operating Segments | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 23,500 23,500 54,400 53,100
Natural Gas Distribution | Operating Segments | Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 193,200 197,600 626,800 610,700
Natural Gas Distribution | Operating Segments | Transmission Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Natural Gas Distribution | Operating Segments | Wholesale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 14,400 12,100 36,100 29,900
Natural Gas Distribution | Operating Segments | Other Revenues from Contracts with Customers        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 400 (600) 1,400 (900)
Natural Gas Distribution | Operating Segments | Reserve for Revenues Subject to Refund        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 1,500 (3,500) 3,100 (8,000)
Electric Transmission | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 284,900 314,000 613,000 630,700
Alternative Revenue Programs 64,600 3,400 77,000 (8,300)
Other Revenues 100 0 100 0
Operating Revenues 349,600 317,400 690,100 622,400
Electric Transmission | Operating Segments | Residential        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Electric Transmission | Operating Segments | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Electric Transmission | Operating Segments | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Electric Transmission | Operating Segments | Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Electric Transmission | Operating Segments | Transmission Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 281,200 310,800 606,100 624,500
Electric Transmission | Operating Segments | Wholesale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Electric Transmission | Operating Segments | Other Revenues from Contracts with Customers        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 3,700 3,200 6,900 6,200
Electric Transmission | Operating Segments | Reserve for Revenues Subject to Refund        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Water Distribution | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 52,800 51,400 97,200 95,200
Alternative Revenue Programs 700 1,900 1,500 2,600
Other Revenues 200 200 500 200
Operating Revenues 53,700 53,500 99,200 98,000
Water Distribution | Operating Segments | Residential        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 33,600 32,300 60,500 59,700
Water Distribution | Operating Segments | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 16,000 15,700 30,300 30,000
Water Distribution | Operating Segments | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 1,100 1,100 2,200 2,100
Water Distribution | Operating Segments | Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 50,700 49,100 93,000 91,800
Water Distribution | Operating Segments | Transmission Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 0
Water Distribution | Operating Segments | Wholesale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 900 900 1,900 1,700
Water Distribution | Operating Segments | Other Revenues from Contracts with Customers        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 1,800 1,900 3,500 3,700
Water Distribution | Operating Segments | Reserve for Revenues Subject to Refund        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers (600) (500) (1,200) (2,000)
CL&P        
Disaggregation of Revenue [Line Items]        
Operating Revenues 740,846 694,892 1,590,092 1,479,875
Lease revenue 300   500  
CL&P | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 798,400 798,900 1,757,600 1,697,100
Alternative Revenue Programs 55,100 1,000 60,900 (4,100)
Other Revenues 2,700 2,400 3,700 3,300
CL&P | Operating Segments | Residential        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 402,800 387,100 913,400 870,400
CL&P | Operating Segments | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 224,700 220,700 461,300 443,200
CL&P | Operating Segments | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 33,800 36,500 68,400 72,300
CL&P | Operating Segments | Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 661,300 644,300 1,443,100 1,385,900
CL&P | Operating Segments | Transmission Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 115,900 139,900 270,700 290,600
CL&P | Operating Segments | Wholesale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 12,100 10,600 25,800 21,000
CL&P | Operating Segments | Other Revenues from Contracts with Customers        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 9,100 8,300 18,000 16,200
CL&P | Operating Segments | Reserve for Revenues Subject to Refund        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 (4,200) 0 (16,600)
CL&P | Eliminations        
Disaggregation of Revenue [Line Items]        
Operating Revenues (115,400) (107,400) (232,100) (216,400)
NSTAR Electric        
Disaggregation of Revenue [Line Items]        
Operating Revenues 681,893 690,737 1,479,505 1,460,865
Lease revenue 700   1,300  
NSTAR Electric | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 777,800 792,500 1,665,100 1,648,000
Alternative Revenue Programs 2,100 (6,900) 9,300 (200)
Other Revenues 1,900 1,600 3,400 2,700
NSTAR Electric | Operating Segments | Residential        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 282,300 292,500 653,200 656,700
NSTAR Electric | Operating Segments | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 315,800 325,500 652,300 640,000
NSTAR Electric | Operating Segments | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 28,900 30,900 57,800 59,000
NSTAR Electric | Operating Segments | Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 627,000 648,900 1,363,300 1,355,700
NSTAR Electric | Operating Segments | Transmission Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 127,500 120,900 250,100 239,500
NSTAR Electric | Operating Segments | Wholesale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 17,200 13,400 41,600 38,200
NSTAR Electric | Operating Segments | Other Revenues from Contracts with Customers        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 6,100 9,300 10,100 18,300
NSTAR Electric | Operating Segments | Reserve for Revenues Subject to Refund        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 0 0 0 (3,700)
NSTAR Electric | Eliminations        
Disaggregation of Revenue [Line Items]        
Operating Revenues (99,900) (96,500) (198,300) (189,600)
PSNH        
Disaggregation of Revenue [Line Items]        
Operating Revenues 240,900 235,146 517,335 502,497
PSNH | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 260,200 273,800 571,900 581,800
Alternative Revenue Programs 13,700 (5,000) 15,200 (9,600)
Other Revenues 500 200 800 600
PSNH | Operating Segments | Residential        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 119,900 114,800 271,700 261,600
PSNH | Operating Segments | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 72,700 76,200 152,600 151,100
PSNH | Operating Segments | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 18,600 21,000 37,200 38,600
PSNH | Operating Segments | Total Retail Tariff Sale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 211,200 212,000 461,500 451,300
PSNH | Operating Segments | Transmission Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 37,800 50,100 85,300 94,300
PSNH | Operating Segments | Wholesale Revenue        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 10,100 10,900 23,400 34,900
PSNH | Operating Segments | Other Revenues from Contracts with Customers        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers 4,200 3,900 7,800 7,500
PSNH | Operating Segments | Reserve for Revenues Subject to Refund        
Disaggregation of Revenue [Line Items]        
Revenues from Contracts with Customers (3,100) (3,100) (6,100) (6,200)
PSNH | Eliminations        
Disaggregation of Revenue [Line Items]        
Operating Revenues $ (33,500) $ (33,900) $ (70,600) $ (70,300)
v3.19.2
SEGMENT INFORMATION - Narrative (Details)
$ in Millions
6 Months Ended
Jun. 30, 2019
USD ($)
segment
company
Segment Reporting Information [Line Items]  
Number of companies that transmit hydro electricity imported from The Hydro-Quebec System in Canada | company 2
CL&P  
Segment Reporting Information [Line Items]  
Number of reportable segments 1
NSTAR Electric  
Segment Reporting Information [Line Items]  
Number of reportable segments 1
PSNH  
Segment Reporting Information [Line Items]  
Number of reportable segments 1
Affiliated Entity  
Segment Reporting Information [Line Items]  
Affiliate transaction costs classified as Purchased Power, Fuel and Transmission Costs | $ $ 62.5
v3.19.2
SEGMENT INFORMATION - Summary of Segment Information and Segmented Total Assets (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Segment Reporting Information [Line Items]          
Operating Revenues $ 1,884,495 $ 1,853,856 $ 4,300,287 $ 4,141,818  
Depreciation and Amortization (258,000) (235,300) (544,000) (484,800)  
Impairment of Northern Pass Transmission (239,644) 0 (239,644) 0  
Other Operating Expenses (1,235,900) (1,227,200) (2,871,000) (2,823,100)  
Operating Income/(Loss) 150,988 391,354 645,688 833,886  
Interest Expense (132,705) (126,404) (264,438) (247,533)  
Other Income/(Loss), Net 45,866 50,149 76,850 83,938  
Net Income Attributable to Common Shareholders 31,454 242,767 340,132 512,313  
Cash Flows Used for Investments in Plant     1,377,753 1,251,678  
Assets 38,995,906   38,995,906   $ 38,241,256
Operating Segments          
Segment Reporting Information [Line Items]          
Operating Revenues        
Other          
Segment Reporting Information [Line Items]          
Operating Revenues 250,800 237,000 509,000 467,900  
Depreciation and Amortization (14,700) (11,900) (28,300) (23,900)  
Impairment of Northern Pass Transmission 0   0    
Other Operating Expenses (218,400) (211,700) (444,000) (416,300)  
Operating Income/(Loss) 17,700 13,400 36,700 27,700  
Interest Expense (44,500) (32,300) (88,600) (64,300)  
Other Income/(Loss), Net (114,900) 302,000 316,800 662,100  
Net Income Attributable to Common Shareholders (145,600) 288,800 262,000 634,800  
Cash Flows Used for Investments in Plant     103,200 77,100  
Assets 18,550,400   18,550,400   17,874,200
Eliminations          
Segment Reporting Information [Line Items]          
Operating Revenues (539,100) (500,400) (1,070,200) (972,400)  
Depreciation and Amortization 600 600 1,100 1,100  
Impairment of Northern Pass Transmission 0   0    
Other Operating Expenses 538,700 501,400 1,069,800 973,300  
Operating Income/(Loss) 200 1,600 700 2,000  
Interest Expense 13,600 8,000 26,100 15,400  
Other Income/(Loss), Net 139,100 (281,800) (288,500) (637,000)  
Net Income Attributable to Common Shareholders 152,900 (272,200) (261,700) (619,600)  
Cash Flows Used for Investments in Plant     0 0  
Assets (18,004,800)   (18,004,800)   (17,464,900)
Electric Distribution | Operating Segments          
Segment Reporting Information [Line Items]          
Operating Revenues 1,561,800 1,539,900 3,395,600 3,294,500  
Depreciation and Amortization (150,100) (135,500) (329,300) (279,900)  
Impairment of Northern Pass Transmission 0   0    
Other Operating Expenses (1,243,000) (1,233,000) (2,718,600) (2,676,500)  
Operating Income/(Loss) 168,700 171,400 347,700 338,100  
Interest Expense (50,800) (52,100) (100,000) (99,500)  
Other Income/(Loss), Net 12,200 19,000 30,400 38,600  
Net Income Attributable to Common Shareholders 105,400 101,300 225,400 205,500  
Cash Flows Used for Investments in Plant     571,300 475,600  
Assets 21,628,800   21,628,800   21,389,100
Natural Gas Distribution | Operating Segments          
Segment Reporting Information [Line Items]          
Operating Revenues 207,700 206,500 676,600 631,400  
Depreciation and Amortization (19,500) (19,300) (39,900) (45,700)  
Impairment of Northern Pass Transmission 0   0    
Other Operating Expenses (179,800) (170,600) (521,100) (483,200)  
Operating Income/(Loss) 8,400 16,600 115,600 102,500  
Interest Expense (11,900) (11,400) (23,700) (22,500)  
Other Income/(Loss), Net 700 1,600 1,000 3,500  
Net Income Attributable to Common Shareholders (1,800) 5,000 74,700 62,800  
Cash Flows Used for Investments in Plant     202,700 150,300  
Assets 4,031,300   4,031,300   3,904,900
Electric Transmission | Operating Segments          
Segment Reporting Information [Line Items]          
Operating Revenues 349,600 317,400 690,100 622,400  
Depreciation and Amortization (62,300) (57,000) (123,700) (113,500)  
Impairment of Northern Pass Transmission (239,600)   (239,600)    
Other Operating Expenses (108,400) (88,800) (207,200) (172,000)  
Operating Income/(Loss) (60,700) 171,600 119,600 336,900  
Interest Expense (30,500) (30,000) (61,000) (59,700)  
Other Income/(Loss), Net 8,700 9,900 16,800 17,800  
Net Income Attributable to Common Shareholders (87,400) 112,700 30,900 220,100  
Cash Flows Used for Investments in Plant     449,200 508,500  
Assets 10,499,700   10,499,700   10,285,000
Water Distribution | Operating Segments          
Segment Reporting Information [Line Items]          
Operating Revenues 53,700 53,500 99,200 98,000  
Depreciation and Amortization (12,000) (12,200) (23,900) (22,900)  
Impairment of Northern Pass Transmission 0   0    
Other Operating Expenses (25,000) (24,500) (49,900) (48,400)  
Operating Income/(Loss) 16,700 16,800 25,400 26,700  
Interest Expense (8,600) (8,600) (17,200) (16,900)  
Other Income/(Loss), Net 100 (600) 400 (1,100)  
Net Income Attributable to Common Shareholders 8,000 $ 7,200 8,800 8,700  
Cash Flows Used for Investments in Plant     51,400 $ 40,200  
Assets $ 2,290,500   $ 2,290,500   $ 2,253,000