SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Allowance for Uncollectible Accounts

The activity in the allowance for uncollectible accounts by portfolio segment as of June 30th is as follows:


	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance
Three Months Ended 2024
Beginning Balance	$	379.4	$	190.7	$	570.1	$	271.8	$	36.0	$	307.8	$	41.8	$	55.9	$	97.7	$	13.8
Uncollectible Expense	—		9.9		9.9		—		2.8		2.8		—		5.9		5.9		1.0
Uncollectible Costs Deferred (1)	26.0		10.0		36.0		15.3		2.6		17.9		4.3		4.7		9.0		1.1
Write-Offs	(16.5)		(23.3)		(39.8)		(12.9)		(8.3)		(21.2)		(0.2)		(7.1)		(7.3)		(2.0)
Recoveries Collected	0.2		3.2		3.4		0.2		1.1		1.3		—		0.9		0.9		0.2
Ending Balance	$	389.1	$	190.5	$	579.6	$	274.4	$	34.2	$	308.6	$	45.9	$	60.3	$	106.2	$	14.1

Six Months Ended 2024
Beginning Balance	$	366.8	$	187.7	$	554.5	$	259.7	$	36.3	$	296.0	$	43.6	$	53.4	$	97.0	$	14.3
Uncollectible Expense	—		26.3		26.3		—		6.3		6.3		—		12.0		12.0		2.2
Uncollectible Costs Deferred (1)	53.5		21.4		74.9		38.1		5.3		43.4		3.5		9.1		12.6		2.4
Write-Offs	(31.7)		(51.8)		(83.5)		(23.8)		(16.0)		(39.8)		(1.2)		(16.3)		(17.5)		(5.2)
Recoveries Collected	0.5		6.9		7.4		0.4		2.3		2.7		—		2.1		2.1		0.4
Ending Balance	$	389.1	$	190.5	$	579.6	$	274.4	$	34.2	$	308.6	$	45.9	$	60.3	$	106.2	$	14.1


	Eversource						CL&P						NSTAR Electric						PSNH
(Millions of Dollars)	Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Hardship Accounts		Retail (Non-Hardship), Wholesale, and Other		Total Allowance		Total Allowance (2)
Three Months Ended 2023
Beginning Balance	$	318.7	$	216.4	$	535.1	$	216.2	$	37.2	$	253.4	$	42.0	$	52.6	$	94.6	$	33.5
Uncollectible Expense	—		1.4		1.4		—		0.9		0.9		—		3.1		3.1		(5.5)
Uncollectible Costs Deferred (1)	27.0		(5.5)		21.5		16.6		3.4		20.0		3.7		3.9		7.6		(13.5)
Write-Offs	(8.1)		(21.8)		(29.9)		(6.8)		(6.7)		(13.5)		(0.1)		(8.6)		(8.7)		(2.0)
Recoveries Collected	0.6		3.7		4.3		0.5		1.5		2.0		—		1.2		1.2		0.2
Ending Balance	$	338.2	$	194.2	$	532.4	$	226.5	$	36.3	$	262.8	$	45.6	$	52.2	$	97.8	$	12.7

Six Months Ended 2023
Beginning Balance	$	284.4	$	201.9	$	486.3	$	188.9	$	36.4	$	225.3	$	43.7	$	51.3	$	95.0	$	29.2
Uncollectible Expense	—		24.2		24.2		—		4.8		4.8		—		7.8		7.8		(0.5)
Uncollectible Costs Deferred (1)	70.8		8.7		79.5		50.9		6.1		57.0		2.4		9.3		11.7		(12.2)
Write-Offs	(17.8)		(48.0)		(65.8)		(14.1)		(13.7)		(27.8)		(0.5)		(18.9)		(19.4)		(4.2)
Recoveries Collected	0.8		7.4		8.2		0.8		2.7		3.5		—		2.7		2.7		0.4
Ending Balance	$	338.2	$	194.2	$	532.4	$	226.5	$	36.3	$	262.8	$	45.6	$	52.2	$	97.8	$	12.7

(1) These expected credit losses are deferred as regulatory costs on the balance sheets, as these amounts are ultimately recovered in rates. Amounts include uncollectible costs for hardship accounts and other customer receivables, including uncollectible amounts related to uncollectible energy supply costs and COVID-19. The increases in the allowance for uncollectible hardship accounts at Eversource and CL&P in both 2024 and 2023 primarily relate to increased customer enrollment in disconnection prevention programs in Connecticut.

(2) In connection with PSNH’s pole purchase agreement on May 1, 2023, the purchase price included the forgiveness of previously reserved receivables for reimbursement of operation and maintenance and vegetation management costs.

Schedule of 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, 2024								June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion	$	30.0	$	7.2	$	13.3	$	3.7	$	33.3	$	8.4	$	14.1	$	3.9
AFUDC Equity	23.7		5.5		15.2		1.7		19.0		4.6		12.0		1.1
Equity in Earnings of Unconsolidated Affiliates (1)	23.2		—		0.2		—		5.0		—		0.1		—
Investment Income/(Loss)	1.1		(0.1)		0.5		—		(1.4)		(1.1)		0.3		(0.3)
Interest Income	37.1		10.4		19.2		2.4		21.4		1.5		14.4		1.2

Other (2)	0.2		—		—		—		17.6		—		—		0.4
Total Other Income, Net	$	115.3	$	23.0	$	48.4	$	7.8	$	94.9	$	13.4	$	40.9	$	6.3

	For the Six Months Ended
	June 30, 2024								June 30, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Pension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion	$	57.8	$	13.7	$	25.6	$	7.3	$	68.1	$	17.9	$	28.8	$	8.1
AFUDC Equity	50.5		11.5		31.4		3.6		34.5		8.7		21.5		1.8
Equity in Earnings of Unconsolidated Affiliates (1)	31.0		—		0.4		—		8.8		—		0.2		—
Investment Income/(Loss)	0.3		(0.9)		0.9		(0.2)		(3.1)		(1.7)		(0.2)		(0.4)
Interest Income	67.1		15.1		37.2		4.1		44.5		3.4		30.4		2.1

Other (2)	(0.4)		—		—		—		31.1		—		0.1		0.4
Total Other Income, Net	$	206.3	$	39.4	$	95.5	$	14.8	$	183.9	$	28.3	$	80.8	$	12.0

(1) Equity in Earnings of Unconsolidated Affiliates includes $23.4 million of pre-tax income recorded at Eversource in the second quarter of 2024 from Eversource’s wind equity method investment, North East Offshore, as a result of a vendor settlement agreement payment received by the joint venture. This settlement payment reduced the required capital contributions to be made by Eversource to North East Offshore during the second quarter of 2024.

(2) Eversource’s equity method investment in a renewable energy fund was liquidated in March 2023. Liquidation proceeds in excess of the carrying value were recorded in both the first and second quarters of 2023 within Other in the tables above. See Note 1E, "Summary of Significant Accounting Policies - Investments in Unconsolidated Affiliates," for further information.

Schedule of Investments in Unconsolidated Affiliates

Eversource's investments included the following:


				Investment Balance
(Millions of Dollars)	Ownership Interest			As of June 30, 2024		As of December 31, 2023
Offshore Wind Business	50%	-	100%	$	806.1	$	515.5
Natural Gas Pipeline - Algonquin Gas Transmission, LLC	15%			113.2		116.0

Other	various			29.7		29.0
Total Investments in Unconsolidated Affiliates				$	949.0	$	660.5

Schedule of 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, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Eversource	$	44.6	$	44.7	$	97.9	$	99.7
CL&P	39.7		38.9		83.6		82.0

Schedule of Non-cash Investing Activities

Non-cash investing activities include plant additions included in Accounts Payable as follows:


(Millions of Dollars)	As of June 30, 2024		As of June 30, 2023
Eversource	$	477.9	$	457.5
CL&P	89.2		104.8
NSTAR Electric	142.2		113.4
PSNH	86.5		59.6

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, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Cash as reported on the Balance Sheets	$	33.4	$	—	$	2.7	$	0.3	$	53.9	$	10.2	$	6.7	$	0.2
Restricted cash included in:
Special Deposits	66.4		1.1		1.4		30.6		81.5		2.0		16.1		31.6
Marketable Securities	16.3		—		—		—		13.7		—		—		—
Other Long-Term Assets	16.5		—		—		3.2		17.3		—		—		3.2
Cash and Restricted Cash as reported on the Statements of Cash Flows	$	132.6	$	1.1	$	4.1	$	34.1	$	166.4	$	12.2	$	22.8	$	35.0