SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Allowance for Uncollectible Accounts

The activity in the allowance for uncollectible accounts by portfolio segment as of September 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	$	389.1	$	190.5	$	579.6	$	274.4	$	34.2	$	308.6	$	45.9	$	60.3	$	106.2	$	14.1
Uncollectible Expense	—		29.2		29.2		—		5.1		5.1		—		15.7		15.7		1.2
Uncollectible Costs Deferred (1)	5.4		16.0		21.4		(8.8)		3.4		(5.4)		10.1		8.2		18.3		1.4
Write-Offs	(16.8)		(41.3)		(58.1)		(12.2)		(7.4)		(19.6)		(1.9)		(20.3)		(22.2)		(3.2)
Recoveries Collected	0.1		2.5		2.6		0.1		1.0		1.1		—		0.3		0.3		0.2
Ending Balance	$	377.8	$	196.9	$	574.7	$	253.5	$	36.3	$	289.8	$	54.1	$	64.2	$	118.3	$	13.7

Nine 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	—		55.4		55.4		—		11.4		11.4		—		27.7		27.7		3.4
Uncollectible Costs Deferred (1)	58.9		37.5		96.4		29.3		8.7		38.0		13.6		17.3		30.9		3.8
Write-Offs	(48.5)		(93.1)		(141.6)		(36.0)		(23.4)		(59.4)		(3.1)		(36.6)		(39.7)		(8.4)
Recoveries Collected	0.6		9.4		10.0		0.5		3.3		3.8		—		2.4		2.4		0.6
Ending Balance	$	377.8	$	196.9	$	574.7	$	253.5	$	36.3	$	289.8	$	54.1	$	64.2	$	118.3	$	13.7


	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	$	338.2	$	194.2	$	532.4	$	226.5	$	36.3	$	262.8	$	45.6	$	52.2	$	97.8	$	12.7
Uncollectible Expense	—		16.8		16.8		—		2.4		2.4		—		5.2		5.2		2.0
Uncollectible Costs Deferred (1)	33.9		14.0		47.9		29.4		3.1		32.5		3.4		4.5		7.9		1.1
Write-Offs	(17.5)		(40.4)		(57.9)		(14.9)		(7.6)		(22.5)		0.1		(11.5)		(11.4)		(3.6)
Recoveries Collected	0.2		3.3		3.5		0.2		0.9		1.1		—		1.3		1.3		0.2
Ending Balance	$	354.8	$	187.9	$	542.7	$	241.2	$	35.1	$	276.3	$	49.1	$	51.7	$	100.8	$	12.4

Nine 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	—		40.9		40.9		—		7.1		7.1		—		13.0		13.0		1.5
Uncollectible Costs Deferred (1)	104.7		22.8		127.5		80.3		9.3		89.6		5.8		13.8		19.6		(11.1)
Write-Offs	(35.3)		(88.5)		(123.8)		(29.0)		(21.3)		(50.3)		(0.4)		(30.4)		(30.8)		(7.8)
Recoveries Collected	1.0		10.8		11.8		1.0		3.6		4.6		—		4.0		4.0		0.6
Ending Balance	$	354.8	$	187.9	$	542.7	$	241.2	$	35.1	$	276.3	$	49.1	$	51.7	$	100.8	$	12.4

(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. The increases in the allowance for uncollectible hardship accounts at Eversource and CL&P in 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
	September 30, 2024								September 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	$	31.6	$	7.7	$	13.9	$	3.9	$	28.5	$	7.0	$	12.9	$	3.7
AFUDC Equity	22.7		5.4		13.0		1.5		21.0		5.2		12.5		1.6
Equity in Earnings of Unconsolidated Affiliates	17.1		—		0.2		—		2.7		—		0.1		—
Investment (Loss)/Income	(2.1)		(0.9)		(0.2)		(0.3)		2.7		1.5		0.7		0.4
Interest Income	38.9		9.7		20.6		3.0		24.1		4.6		13.6		1.5

Other	4.4		—		—		—		0.1		—		0.1		—
Total Other Income, Net	$	112.6	$	21.9	$	47.5	$	8.1	$	79.1	$	18.3	$	39.9	$	7.2

	For the Nine Months Ended
	September 30, 2024								September 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	$	89.4	$	21.4	$	39.5	$	11.2	$	96.6	$	24.9	$	41.7	$	11.8
AFUDC Equity	73.2		16.9		44.4		5.1		55.5		13.9		34.0		3.4
Equity in Earnings of Unconsolidated Affiliates (1)	48.1		—		0.6		—		11.5		—		0.3		—
Investment (Loss)/Income	(1.8)		(1.7)		0.7		(0.5)		(0.4)		(0.2)		0.5		—
Interest Income	106.0		24.8		57.8		7.1		68.6		8.0		44.0		3.6

Other (2)	4.0		—		—		—		31.2		—		0.2		0.4
Total Other Income, Net	$	318.9	$	61.4	$	143.0	$	22.9	$	263.0	$	46.6	$	120.7	$	19.2

(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.

(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 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 September 30, 2024		As of December 31, 2023
Offshore Wind Business	50%	-	100%	$	22.2	$	515.5
Natural Gas Pipeline - Algonquin Gas Transmission, LLC	15%			113.5		116.0

Other	various			30.7		29.0
Total Investments in Unconsolidated Affiliates				$	166.4	$	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 Nine Months Ended
(Millions of Dollars)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Eversource	$	59.3	$	53.7	$	157.2	$	153.4
CL&P	56.0		50.2		139.6		132.2

Schedule of Non-Cash Investing Activities

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


(Millions of Dollars)	As of September 30, 2024		As of September 30, 2023
Eversource	$	458.6	$	462.4
CL&P	73.0		86.3
NSTAR Electric	164.8		135.9
PSNH	67.5		71.9

Reconciliation of Cash Balances to Cash and Restricted Cash

The following table reconciles cash and cash equivalents as reported on the balance sheets to the cash, cash equivalents and restricted cash balance as reported on the statements of cash flows:


	As of September 30, 2024								As of December 31, 2023
(Millions of Dollars)	Eversource		CL&P		NSTAR Electric		PSNH		Eversource		CL&P		NSTAR Electric		PSNH
Cash and Cash Equivalents as reported on the Balance Sheets	$	97.9	$	10.1	$	4.5	$	4.7	$	53.9	$	10.2	$	6.7	$	0.2
Restricted cash included in:
Special Deposits	66.5		1.0		11.5		18.9		81.5		2.0		16.1		31.6
Marketable Securities	21.5		—		—		—		13.7		—		—		—
Other Long-Term Assets	16.9		—		—		3.1		17.3		—		—		3.2
Cash, Cash Equivalents and Restricted Cash as reported on the Statements of Cash Flows	$	202.8	$	11.1	$	16.0	$	26.7	$	166.4	$	12.2	$	22.8	$	35.0