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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2021
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 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) the results of other unregulated subsidiaries, which are not part of its core business, and 5) Eversource parent's equity ownership interests that are not consolidated, which primarily include the offshore wind business, a natural gas pipeline owned by Enbridge, Inc., and a renewable energy investment fund. In the ordinary course of business, Yankee Gas, NSTAR Gas and EGMA purchase natural gas transmission services from the Enbridge, Inc. natural gas pipeline project described above. These affiliate transaction costs total $77.7 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 September 30, 2021
Eversource (Millions of Dollars) | Electric Distribution |  | Natural Gas Distribution |  | Electric Transmission |  | Water Distribution |  | Other |  | Eliminations |  | Total
Operating Revenues | $ | 2,055.2 |  |  | $ | 185.5 |  |  | $ | 418.3 |  |  | $ | 61.8 |  |  | $ | 326.1 |  |  | $ | (614.1) |  |  | $ | 2,432.8 |
Depreciation and Amortization | (179.8) |  |  | (28.5) |  |  | (75.4) |  |  | (11.5) |  |  | (28.0) |  |  | 1.1 |  |  | (322.1) |
Other Operating Expenses | (1,640.5) |  |  | (176.9) |  |  | (122.4) |  |  | (26.1) |  |  | (275.2) |  |  | 613.7 |  |  | (1,627.4) |
Operating Income/(Loss) | $ | 234.9 |  |  | $ | (19.9) |  |  | $ | 220.5 |  |  | $ | 24.2 |  |  | $ | 22.9 |  |  | $ | 0.7 |  |  | $ | 483.3 |
Interest Expense | $ | (61.0) |  |  | $ | (15.7) |  |  | $ | (33.5) |  |  | $ | (8.0) |  |  | $ | (42.5) |  |  | $ | 12.7 |  |  | $ | (148.0) |
Other Income, Net | 25.4 |  |  | 6.7 |  |  | 5.0 |  |  | 1.2 |  |  | 325.9 |  |  | (320.4) |  |  | 43.8 |
Net Income/(Loss) Attributable to Common Shareholders | 150.4 |  |  | (22.0) |  |  | 139.4 |  |  | 17.5 |  |  | 304.9 |  |  | (307.0) |  |  | 283.2 |
| For the Nine Months Ended September 30, 2021
Eversource (Millions of Dollars) | Electric Distribution |  | Natural Gas Distribution |  | Electric Transmission |  | Water Distribution |  | Other |  | Eliminations |  | Total
Operating Revenues | $ | 5,632.1 |  |  | $ | 1,277.8 |  |  | $ | 1,230.1 |  |  | $ | 161.0 |  |  | $ | 999.1 |  |  | $ | (1,918.9) |  |  | $ | 7,381.2 |
Depreciation and Amortization | (534.1) |  |  | (108.7) |  |  | (223.4) |  |  | (34.3) |  |  | (83.7) |  |  | 3.1 |  |  | (981.1) |
Other Operating Expenses | (4,531.3) |  |  | (970.6) |  |  | (359.6) |  |  | (76.7) |  |  | (860.3) |  |  | 1,918.9 |  |  | (4,879.6) |
Operating Income | $ | 566.7 |  |  | $ | 198.5 |  |  | $ | 647.1 |  |  | $ | 50.0 |  |  | $ | 55.1 |  |  | $ | 3.1 |  |  | $ | 1,520.5 |
Interest Expense | $ | (175.4) |  |  | $ | (44.2) |  |  | $ | (98.7) |  |  | $ | (24.0) |  |  | $ | (125.9) |  |  | $ | 37.0 |  |  | $ | (431.2) |
Other Income, Net | 76.0 |  |  | 15.2 |  |  | 17.3 |  |  | 3.1 |  |  | 1,059.2 |  |  | (1,046.2) |  |  | 124.6 |
Net Income Attributable to Common Shareholders | 365.4 |  |  | 129.6 |  |  | 412.4 |  |  | 30.0 |  |  | 982.5 |  |  | (1,006.1) |  |  | 913.8 |
Cash Flows Used for Investments in Plant | 764.9 |  |  | 506.4 |  |  | 691.0 |  |  | 91.2 |  |  | 157.6 |  |  | — |  |  | 2,211.1 |
| For the Three Months Ended September 30, 2020
Eversource (Millions of Dollars) | Electric Distribution |  | Natural Gas Distribution (1) |  | Electric Transmission |  | Water Distribution |  | Other (1) |  | Eliminations (1) |  | Total
Operating Revenues | $ | 2,060.3 |  |  | $ | 110.2 |  |  | $ | 389.3 |  |  | $ | 64.1 |  |  | $ | 322.3 |  |  | $ | (602.6) |  |  | $ | 2,343.6 |
Depreciation and Amortization | (182.0) |  |  | (14.8) |  |  | (70.6) |  |  | (10.8) |  |  | (24.1) |  |  | 0.3 |  |  | (302.0) |
Other Operating Expenses | (1,577.0) |  |  | (104.2) |  |  | (120.6) |  |  | (10.2) |  |  | (271.5) |  |  | 603.1 |  |  | (1,480.4) |
Operating Income/(Loss) | $ | 301.3 |  |  | $ | (8.8) |  |  | $ | 198.1 |  |  | $ | 43.1 |  |  | $ | 26.7 |  |  | $ | 0.8 |  |  | $ | 561.2 |
Interest Expense | $ | (53.3) |  |  | $ | (10.1) |  |  | $ | (31.1) |  |  | $ | (8.0) |  |  | $ | (38.7) |  |  | $ | 7.1 |  |  | $ | (134.1) |
Other Income, Net | 16.0 |  |  | 0.7 |  |  | 6.9 |  |  | 1.6 |  |  | 401.0 |  |  | (397.0) |  |  | 29.2 |
Net Income/(Loss) Attributable to Common Shareholders | 205.5 |  |  | (15.4) |  |  | 125.6 |  |  | 23.1 |  |  | 396.6 |  |  | (389.1) |  |  | 346.3 |
| For the Nine Months Ended September 30, 2020
Eversource (Millions of Dollars) | Electric Distribution |  | Natural Gas Distribution (1) |  | Electric Transmission |  | Water Distribution |  | Other (1) |  | Eliminations (1) |  | Total
Operating Revenues | $ | 5,481.9 |  |  | $ | 770.0 |  |  | $ | 1,135.6 |  |  | $ | 166.6 |  |  | $ | 900.7 |  |  | $ | (1,784.3) |  |  | $ | 6,670.5 |
Depreciation and Amortization | (490.0) |  |  | (55.1) |  |  | (206.8) |  |  | (33.1) |  |  | (68.1) |  |  | 1.2 |  |  | (851.9) |
Other Operating Expenses | (4,309.9) |  |  | (592.0) |  |  | (338.5) |  |  | (60.7) |  |  | (771.4) |  |  | 1,787.9 |  |  | (4,284.6) |
Operating Income | $ | 682.0 |  |  | $ | 122.9 |  |  | $ | 590.3 |  |  | $ | 72.8 |  |  | $ | 61.2 |  |  | $ | 4.8 |  |  | $ | 1,534.0 |
Interest Expense | $ | (160.7) |  |  | $ | (32.1) |  |  | $ | (93.8) |  |  | $ | (25.1) |  |  | $ | (119.0) |  |  | $ | 27.6 |  |  | $ | (403.1) |
Other Income, Net | 44.9 |  |  | 2.5 |  |  | 22.7 |  |  | 1.7 |  |  | 1,087.9 |  |  | (1,076.1) |  |  | 83.6 |
Net Income Attributable to Common Shareholders | 450.6 |  |  | 73.3 |  |  | 381.8 |  |  | 35.6 |  |  | 1,035.6 |  |  | (1,043.7) |  |  | 933.2 |
Cash Flows Used for Investments in Plant | 781.2 |  |  | 322.8 |  |  | 732.4 |  |  | 84.0 |  |  | 181.2 |  |  | — |  |  | 2,101.6 |
(1) On October 9, 2020, Eversource completed the CMA asset acquisition, with Yankee Energy System, Inc. (Yankee parent) as the acquiring entity. Yankee parent is the parent company of Yankee Gas, NSTAR Gas, EGMA and Hopkinton LNG Corp. As a result of the acquisition, in the fourth quarter of 2020, our chief operating decision maker assessed the performance of the Natural Gas Distribution segment including Yankee parent. Previously, Yankee parent was presented within Other and its equity in earnings were eliminated in consolidation. Prior comparative periods were revised to conform to the current period segment presentation. 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 September 30, 2021 | $ | 25,604.2 |  |  | $ | 6,865.6 |  |  | $ | 12,123.5 |  |  | $ | 2,444.9 |  |  | $ | 21,624.5 |  |  | $ | (20,648.6) |  |  | $ | 48,014.1 |
As of December 31, 2020 | 24,981.9 |  |  | 6,450.5 |  |  | 11,695.0 |  |  | 2,375.2 |  |  | 22,089.4 |  |  | (21,492.4) |  |  | 46,099.6 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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