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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2021
Accounting Policies [Abstract] |
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 Receivables |  | Total Allowance |  | Hardship Accounts |  | Retail (Non-Hardship), Wholesale and Other Receivables |  | Total Allowance |  | Hardship Accounts |  | Retail (Non-Hardship), Wholesale, and Other Receivables |  | Total Allowance |  | Total Allowance
Three Months Ended 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 210.7 |  |  | $ | 215.1 |  |  | $ | 425.8 |  |  | $ | 145.6 |  |  | $ | 43.2 |  |  | $ | 188.8 |  |  | $ | 35.9 |  |  | $ | 62.1 |  |  | $ | 98.0 |  |  | $ | 17.2 |
Uncollectible Expense | — |  |  | 12.0 |  |  | 12.0 |  |  | — |  |  | 3.6 |  |  | 3.6 |  |  | — |  |  | 5.1 |  |  | 5.1 |  |  | 1.2 |
Uncollectible Costs Deferred (1) | 22.8 |  |  | 1.7 |  |  | 24.5 |  |  | 4.5 |  |  | 5.7 |  |  | 10.2 |  |  | 11.8 |  |  | (3.5) |  |  | 8.3 |  |  | 1.2 |
Write-Offs | (3.9) |  |  | (20.5) |  |  | (24.4) |  |  | (3.5) |  |  | (5.4) |  |  | (8.9) |  |  | (0.1) |  |  | (7.4) |  |  | (7.5) |  |  | (2.8) |
Recoveries Collected | 0.3 |  |  | 3.5 |  |  | 3.8 |  |  | 0.2 |  |  | 1.6 |  |  | 1.8 |  |  | — |  |  | 1.1 |  |  | 1.1 |  |  | 0.2 |
Ending Balance | $ | 229.9 |  |  | $ | 211.8 |  |  | $ | 441.7 |  |  | $ | 146.8 |  |  | $ | 48.7 |  |  | $ | 195.5 |  |  | $ | 47.6 |  |  | $ | 57.4 |  |  | $ | 105.0 |  |  | $ | 17.0 |
Nine Months Ended 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 194.8 |  |  | $ | 164.1 |  |  | $ | 358.9 |  |  | $ | 129.1 |  |  | $ | 28.3 |  |  | $ | 157.4 |  |  | $ | 39.7 |  |  | $ | 51.9 |  |  | $ | 91.6 |  |  | $ | 17.2 |
Uncollectible Expense | — |  |  | 39.7 |  |  | 39.7 |  |  | — |  |  | 10.2 |  |  | 10.2 |  |  | — |  |  | 12.5 |  |  | 12.5 |  |  | 4.4 |
Uncollectible Costs Deferred (1) | 44.8 |  |  | 53.3 |  |  | 98.1 |  |  | 25.7 |  |  | 21.4 |  |  | 47.1 |  |  | 8.3 |  |  | 11.8 |  |  | 20.1 |  |  | 2.0 |
Write-Offs | (10.6) |  |  | (55.2) |  |  | (65.8) |  |  | (8.7) |  |  | (14.8) |  |  | (23.5) |  |  | (0.4) |  |  | (22.6) |  |  | (23.0) |  |  | (7.3) |
Recoveries Collected | 0.9 |  |  | 9.9 |  |  | 10.8 |  |  | 0.7 |  |  | 3.6 |  |  | 4.3 |  |  | — |  |  | 3.8 |  |  | 3.8 |  |  | 0.7 |
Ending Balance | $ | 229.9 |  |  | $ | 211.8 |  |  | $ | 441.7 |  |  | $ | 146.8 |  |  | $ | 48.7 |  |  | $ | 195.5 |  |  | $ | 47.6 |  |  | $ | 57.4 |  |  | $ | 105.0 |  |  | $ | 17.0 |
| Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
(Millions of Dollars) | Hardship Accounts |  | Retail (Non-Hardship), Wholesale, and Other Receivables |  | Total Allowance |  | Hardship Accounts |  | Retail (Non-Hardship), Wholesale and Other Receivables |  | Total Allowance |  | Hardship Accounts |  | Retail (Non-Hardship), Wholesale, and Other Receivables |  | Total Allowance |  | Total Allowance
Three Months Ended 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 175.5 |  |  | $ | 94.5 |  |  | $ | 270.0 |  |  | $ | 116.3 |  |  | $ | 20.4 |  |  | $ | 136.7 |  |  | $ | 34.6 |  |  | $ | 34.1 |  |  | $ | 68.7 |  |  | $ | 11.8 |
Uncollectible Expense | — |  |  | 10.5 |  |  | 10.5 |  |  | — |  |  | 3.8 |  |  | 3.8 |  |  | — |  |  | 4.5 |  |  | 4.5 |  |  | 0.8 |
Uncollectible Costs Deferred (1) | 10.1 |  |  | 20.4 |  |  | 30.5 |  |  | 11.2 |  |  | 4.9 |  |  | 16.1 |  |  | (1.3) |  |  | 10.4 |  |  | 9.1 |  |  | 3.2 |
Write-Offs | (7.3) |  |  | (11.8) |  |  | (19.1) |  |  | (2.6) |  |  | (4.6) |  |  | (7.2) |  |  | (0.2) |  |  | (6.3) |  |  | (6.5) |  |  | (2.0) |
Recoveries Collected | 0.4 |  |  | 2.7 |  |  | 3.1 |  |  | 0.3 |  |  | 1.1 |  |  | 1.4 |  |  | — |  |  | 1.0 |  |  | 1.0 |  |  | 0.2 |
Ending Balance | $ | 178.7 |  |  | $ | 116.3 |  |  | $ | 295.0 |  |  | $ | 125.2 |  |  | $ | 25.6 |  |  | $ | 150.8 |  |  | $ | 33.1 |  |  | $ | 43.7 |  |  | $ | 76.8 |  |  | $ | 14.0 |
Nine Months Ended 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 143.3 |  |  | $ | 81.5 |  |  | $ | 224.8 |  |  | $ | 80.1 |  |  | $ | 17.2 |  |  | $ | 97.3 |  |  | $ | 43.9 |  |  | $ | 31.5 |  |  | $ | 75.4 |  |  | $ | 10.5 |
ASU 2016-13 Implementation Impact on January 1, 2020 | 21.6 |  |  | 2.2 |  |  | 23.8 |  |  | 21.3 |  |  | 0.9 |  |  | 22.2 |  |  | (1.6) |  |  | 0.3 |  |  | (1.3) |  |  | 0.3 |
Uncollectible Expense | — |  |  | 31.1 |  |  | 31.1 |  |  | — |  |  | 10.0 |  |  | 10.0 |  |  | — |  |  | 11.3 |  |  | 11.3 |  |  | 2.1 |
Uncollectible Costs Deferred (1) | 24.9 |  |  | 41.5 |  |  | 66.4 |  |  | 32.7 |  |  | 8.3 |  |  | 41.0 |  |  | (8.4) |  |  | 17.3 |  |  | 8.9 |  |  | 5.6 |
Write-Offs | (12.3) |  |  | (49.3) |  |  | (61.6) |  |  | (10.0) |  |  | (14.0) |  |  | (24.0) |  |  | (0.8) |  |  | (20.5) |  |  | (21.3) |  |  | (5.0) |
Recoveries Collected | 1.2 |  |  | 9.3 |  |  | 10.5 |  |  | 1.1 |  |  | 3.2 |  |  | 4.3 |  |  | — |  |  | 3.8 |  |  | 3.8 |  |  | 0.5 |
Ending Balance | $ | 178.7 |  |  | $ | 116.3 |  |  | $ | 295.0 |  |  | $ | 125.2 |  |  | $ | 25.6 |  |  | $ | 150.8 |  |  | $ | 33.1 |  |  | $ | 43.7 |  |  | $ | 76.8 |  |  | $ | 14.0 |
(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 COVID-19 and uncollectible energy supply costs.
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, 2021 |  | September 30, 2020
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Pension, SERP and PBOP Non-Service Income Components | $ | 21.7 |  |  | $ | 4.2 |  |  | $ | 10.1 |  |  | $ | 2.5 |  |  | $ | 11.0 |  |  | $ | 0.9 |  |  | $ | 7.2 |  |  | $ | 1.8 |
AFUDC Equity | 10.3 |  |  | 1.7 |  |  | 6.2 |  |  | 0.3 |  |  | 10.3 |  |  | 3.5 |  |  | 5.5 |  |  | 0.9 |
Equity in Earnings of Unconsolidated Affiliates (1) | 4.9 |  |  | — |  |  | 0.1 |  |  | — |  |  | 3.9 |  |  | — |  |  | 0.1 |  |  | — |
Investment (Loss)/Income | (0.6) |  |  | (0.3) |  |  | (0.2) |  |  | (0.1) |  |  | 1.0 |  |  | 1.3 |  |  | (0.2) |  |  | 0.2 |
Interest Income | 7.3 |  |  | 1.3 |  |  | 3.9 |  |  | 0.4 |  |  | 1.5 |  |  | 0.2 |  |  | 0.1 |  |  | 1.2 |
Gain on Sale of Property | — |  |  | — |  |  | — |  |  | — |  |  | 1.5 |  |  | — |  |  | — |  |  | — |
Other | 0.2 |  |  | — |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |  |  | — |
Total Other Income, Net | $ | 43.8 |  |  | $ | 6.9 |  |  | $ | 20.2 |  |  | $ | 3.2 |  |  | $ | 29.2 |  |  | $ | 5.9 |  |  | $ | 12.8 |  |  | $ | 4.1 |
| For the Nine Months Ended
| September 30, 2021 |  | September 30, 2020
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Pension, SERP and PBOP Non-Service Income Components | $ | 63.9 |  |  | $ | 11.2 |  |  | $ | 30.3 |  |  | $ | 7.9 |  |  | $ | 34.3 |  |  | $ | 3.0 |  |  | $ | 22.2 |  |  | $ | 5.2 |
AFUDC Equity | 28.7 |  |  | 5.1 |  |  | 18.6 |  |  | 1.2 |  |  | 31.8 |  |  | 11.4 |  |  | 15.8 |  |  | 3.5 |
Equity in Earnings of Unconsolidated Affiliates (1) | 13.3 |  |  | — |  |  | 0.3 |  |  | — |  |  | 13.8 |  |  | — |  |  | 0.4 |  |  | — |
Investment Income/(Loss) | 0.7 |  |  | 1.2 |  |  | 0.6 |  |  | 0.3 |  |  | (1.5) |  |  | — |  |  | (1.5) |  |  | 0.1 |
Interest Income | 17.2 |  |  | 4.1 |  |  | 8.8 |  |  | 2.0 |  |  | 3.3 |  |  | 1.8 |  |  | 0.7 |  |  | 2.0 |
Gain on Sale of Property | 0.1 |  |  | — |  |  | — |  |  | 0.1 |  |  | 1.8 |  |  | — |  |  | 0.3 |  |  | — |
Other | 0.7 |  |  | 0.1 |  |  | 0.3 |  |  | 0.1 |  |  | 0.1 |  |  | 0.1 |  |  | 0.3 |  |  | 0.1 |
Total Other Income, Net | $ | 124.6 |  |  | $ | 21.7 |  |  | $ | 58.9 |  |  | $ | 11.6 |  |  | $ | 83.6 |  |  | $ | 16.3 |  |  | $ | 38.2 |  |  | $ | 10.9 |
(1) Equity in earnings of unconsolidated affiliates includes $2.1 million of pre-tax unrealized gains associated with an investment in a renewable energy fund for the nine months ended September 30, 2021. For the nine months ended September 30, 2020, equity in earnings of unconsolidated affiliates included $2.4 million of primarily realized gains associated with this investment.
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, 2021 |  | September 30, 2020 |  | September 30, 2021 |  | September 30, 2020
Eversource | $ | 49.4 |  |  | $ | 48.4 |  |  | $ | 137.9 |  |  | $ | 129.1 |
CL&P | 46.1 |  |  | 45.6 |  |  | 120.7 |  |  | 114.2
Non-cash Investing Activities | Non-cash investing activities include plant additions included in Accounts Payable as follows:
(Millions of Dollars) | As of September 30, 2021 |  | As of September 30, 2020
Eversource | $ | 359.6 |  |  | $ | 357.4 |
CL&P | 75.3 |  |  | 97.8 |
NSTAR Electric | 94.2 |  |  | 92.6 |
PSNH | 32.8 |  |  | 50.0 |
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 September 30, 2021 |  | As of December 31, 2020
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Cash as reported on the Balance Sheets | $ | 88.2 |  |  | $ | 62.8 |  |  | $ | 3.5 |  |  | $ | 3.9 |  |  | $ | 106.6 |  |  | $ | 90.8 |  |  | $ | 0.1 |  |  | $ | 0.1 |
Restricted cash included in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Special Deposits | 55.5 |  |  | 8.7 |  |  | 17.2 |  |  | 18.6 |  |  | 73.6 |  |  | 8.7 |  |  | 17.2 |  |  | 36.8 |
Marketable Securities | 29.7 |  |  | 0.3 |  |  | 0.1 |  |  | 0.5 |  |  | 41.2 |  |  | 0.3 |  |  | 0.1 |  |  | 0.6 |
Other Long-Term Assets | 44.7 |  |  | — |  |  | — |  |  | 3.2 |  |  | 43.6 |  |  | — |  |  | — |  |  | 2.1 |
Cash and Restricted Cash as reported on the Statements of Cash Flows | $ | 218.1 |  |  | $ | 71.8 |  |  | $ | 20.8 |  |  | $ | 26.2 |  |  | $ | 265.0 |  |  | $ | 99.8 |  |  | $ | 17.4 |  |  | $ | 39.6 |

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