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CAPITALIZATION (Tables)
 12 Months Ended
Dec. 31, 2010
Capitalization [Abstract]  
Stock option transaction
Stock option transactions for 2011, 2010 and 2009 are as follows:

         
Average
 
   
Number
  
Option Price
  
Exercise
 
   
of Options
  
per Share
  
Price
 
Balance – December 31, 2008
  403,472  $21.68-$34.52  $32.07 
Granted
  -   N/A   N/A 
Forfeited
  (234,971)  N/A   N/A 
Exercised
  -   N/A   N/A 
Balance – December 31, 2009
  168,501  $21.68-$34.51  $30.32 
Granted
  -   N/A   N/A 
Forfeited
  (3,202)  N/A   N/A 
Exercised
  (30,305) $21.68-$23.64   N/A 
Balance – December 31, 2010
  134,994  $21.68-$34.51  $31.70 
Granted
  -   N/A   N/A 
Forfeited
  (7,910)  N/A   N/A 
Exercised
  (28,864) $21.68-$31.25   N/A 
Balance – December 31, 2011
  98,220  $21.68-$33.96  $33.39 
              
              
Exercisable at December 31, 2009
  168,501  $21.68-$34.51  $30.32 
Exercisable at December 31, 2010
  134,994  $21.68-$34.51  $31.70 
Exercisable at December 31, 2011
  98,220
(1)
 $21.68-$33.96  $33.39 
 
(1)
The intrinsic value of exercisable stock options at December 31, 2011 was $0.2 million.
 
Consolidated redeemable preferred stock, noncontrolling interest
At December 31, 2011, the consolidated redeemable preferred stock, noncontrolling interest was as follows:

Subsidiary and Series
 
Par Value
Per Share
  
Redemption
Price
Per Share
  
Shares
Issued and
Outstanding (1)
  
Amount
(Thousands)
 
              
              
CNG, 6.00%
 $100  $110   4,104  $410 
CNG, 8.00% Noncallable
 $3.125   -   108,706   340 
Total
          112,810  $750 

 
(1)
At December 31, 2011, CNG had 775,609 shares of $3.125 par value preferred stock and 9,994,964 shares of $100 par value preferred stock authorized but unissued.
Long-term debt
Long-Term Debt
 
   
December 31,
 
   
2011
  
2010
 
   
(In Thousands)
 
UIL Holdings
      
7.23% Senior Notes, Series A, due 2011
 $-  $4,286 
7.38%  Senior Notes, Series B, due 2011
  -   45,000 
4.625% Unsecured Senior Notes, due 2020
  450,000   450,000 
          
UI
        
Pollution Control Revenue Bonds:
        
          
5.75%, 1996 Series, due 2026  (1)
  7,500   7,500 
4.50% 2010 Series, due 2027
  27,500   27,500 
7.13%, 1997 Series, due 2027   (1)
  71,000   71,000 
6.88%, 2009 Series, due 2029   (1)
  25,000   25,000 
Auction Rate, 2003 Series, due 2033  (2)
  64,460   64,460 
          
Notes:
        
          
6.06% Senior Notes, Series A and B, due 2017
  70,000   70,000 
6.26% Senior Notes, Series C and D, due 2022
  77,000   77,000 
6.51% Senior Notes, Series E and F due 2037
  28,000   28,000 
6.46% Senior Notes , Series A and 6.51%, Senior Notes, Series B, due 2018
  100,000   100,000 
6.61% Senior Notes, Series C, due 2020
  50,000   50,000 
5.61% Senior Notes, due 2025
  50,000   50,000 
6.09% Senior Notes, due 2040
  100,000   100,000 
          
Equity Bridge Loan
  -   61,783 
          
Gas Companies
        
Senior Secured Notes:
        
          
6.59% Senior Secured Medium Term Note II, due 2011
  -   30,000 
3.88% - 7.50% Senior Secured Medium Term Note IV, due 2018 -2041
  100,000   50,000 
5.772%  - 6.38% Senior Secured Medium Term Notes III, due 2025 - 2037
  85,000   85,000 
6.88% - 7.95% Senior Secured Medium Term Notes I, due 2026 - 2028
  29,000   29,000 
10.06% First Mortgage Bond Series P, due 2019
  10,000   10,000 
          
Unsecured Notes:
        
          
4.76% - 9.60% Senior Unsecured Notes, due 2011 - 2021
  22,545   27,000 
6.85 - 9.10% Unsecured Medium Term Notes, Series A, due 2012 - 2017
  55,000   55,000 
6.50% Unsecured Medium Term Note, Series D, due 2013
  20,000   20,000 
8.12% - 8.49% Unsecured Medium Term Notes, Series B, due 2014 - 2024
  10,000   10,000 
5.63% - 6.66% Unsecured Medium Term Notes, Series C, due 2035 - 2037
  65,000   65,000 
          
Long-Term Debt
  1,517,005   1,612,529 
Less:  Current portion of long-term debt  (3)
  13,712   154,114 
Less:  Unamortized discount
  3,221   3,512 
Plus:  Unamortized premium
  48,275   56,865 
Net Long-Term Debt
 $1,548,347  $1,511,768 
 
(1)
The interest rates on these bonds were due to be remarketed on February 1, 2012; however such bonds were refinanced in January 2012, as discussed below.
(2)
The interest rate on these Bonds is reset through an auction held every 35 days.  On February 6, 2012, the interest rate on the Bonds was 0.52%.
(3)
Includes the current portion of unamortized premium.
Maturities and mandatory redemptions and repayments
Information regarding maturities and mandatory redemptions/repayments are set forth below:

   
2012
  
2013
  
2014
  
2015
  
2016 & thereafter
 
  
(In Thousands)
 
Maturities
 $6,455  $41,455  $6,455  $1,455  $1,461,185