XML 38 R18.htm IDEA: XBRL DOCUMENT
v3.21.2

FAIR VALUE OF FINANCIAL INSTRUMENTS | 9 Months Ended
--- | ---
Sep. 30, 2021
Fair Value Disclosures [Abstract] |
FAIR VALUE OF FINANCIAL INSTRUMENTS | FAIR VALUE OF FINANCIAL INSTRUMENTS The following methods and assumptions were used to estimate the fair value of each of the following financial instruments: Preferred Stock, Long-Term Debt and Rate Reduction Bonds: The fair value of CL&P's and NSTAR Electric's preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow projections. The fair value of long-term debt and RRB debt securities is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields. The fair values provided in the table below are classified as Level 2 within the fair value hierarchy. Carrying amounts and estimated fair values are as follows:
| Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
(Millions of Dollars) | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
As of September 30, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred Stock Not Subject to Mandatory Redemption | $ | 155.6 |  |  | $ | 165.5 |  |  | $ | 116.2 |  |  | $ | 121.4 |  |  | $ | 43.0 |  |  | $ | 44.1 |  |  | $ | — |  |  | $ | — |
Long-Term Debt | 18,219.2 |  |  | 19,810.9 |  |  | 4,215.1 |  |  | 4,865.2 |  |  | 3,984.7 |  |  | 4,494.3 |  |  | 1,163.6 |  |  | 1,228.9 |
Rate Reduction Bonds | 496.9 |  |  | 555.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 496.9 |  |  | 555.8 |
As of December 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred Stock Not Subject to Mandatory Redemption | $ | 155.6 |  |  | $ | 169.1 |  |  | $ | 116.2 |  |  | $ | 123.4 |  |  | $ | 43.0 |  |  | $ | 45.7 |  |  | $ | — |  |  | $ | — |
Long-Term Debt | 16,179.1 |  |  | 18,420.1 |  |  | 3,914.8 |  |  | 4,800.9 |  |  | 3,643.2 |  |  | 4,294.0 |  |  | 1,099.1 |  |  | 1,207.0 |
Rate Reduction Bonds | 540.1 |  |  | 603.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 540.1 |  |  | 603.4 |
Derivative Instruments and Marketable Securities: Derivative instruments and investments in marketable securities are carried at fair value. For further information, see Note 4, "Derivative Instruments," and Note 5, "Marketable Securities," to the financial statements. See Note 1D, "Summary of Significant Accounting Policies – Fair Value Measurements," for the fair value measurement policy and the fair value hierarchy.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration