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v3.22.1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Mar. 31, 2022
Accounting Policies [Abstract] |
Allowance for Uncollectible Accounts | The activity in the allowance for uncollectible accounts by portfolio segment as of March 31st 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 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 226.1 |  |  | $ | 191.3 |  |  | $ | 417.4 |  |  | $ | 144.6 |  |  | $ | 36.7 |  |  | $ | 181.3 |  |  | $ | 43.3 |  |  | $ | 53.7 |  |  | $ | 97.0 |  |  | $ | 24.3 |
Uncollectible Expense | — |  |  | 17.1 |  |  | 17.1 |  |  | — |  |  | 3.8 |  |  | 3.8 |  |  | — |  |  | 4.7 |  |  | 4.7 |  |  | 2.5 |
Uncollectible Costs Deferred (1) | 0.9 |  |  | 14.8 |  |  | 15.7 |  |  | (4.0) |  |  | (2.1) |  |  | (6.1) |  |  | (3.3) |  |  | 5.4 |  |  | 2.1 |  |  | 1.0 |
Write-Offs | (2.3) |  |  | (22.0) |  |  | (24.3) |  |  | (1.1) |  |  | (0.5) |  |  | (1.6) |  |  | (0.3) |  |  | (10.6) |  |  | (10.9) |  |  | (1.8) |
Recoveries Collected | 0.8 |  |  | 5.5 |  |  | 6.3 |  |  | 0.6 |  |  | 2.5 |  |  | 3.1 |  |  | — |  |  | 1.9 |  |  | 1.9 |  |  | 0.2 |
Ending Balance | $ | 225.5 |  |  | $ | 206.7 |  |  | $ | 432.2 |  |  | $ | 140.1 |  |  | $ | 40.4 |  |  | $ | 180.5 |  |  | $ | 39.7 |  |  | $ | 55.1 |  |  | $ | 94.8 |  |  | $ | 26.2 |
Three 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 | — |  |  | 16.3 |  |  | 16.3 |  |  | — |  |  | 3.8 |  |  | 3.8 |  |  | — |  |  | 3.9 |  |  | 3.9 |  |  | 1.2 |
Uncollectible Costs Deferred (1) | 5.4 |  |  | 27.1 |  |  | 32.5 |  |  | 11.9 |  |  | 7.5 |  |  | 19.4 |  |  | (8.5) |  |  | 8.4 |  |  | (0.1) |  |  | 1.2 |
Write-Offs | (3.3) |  |  | (16.7) |  |  | (20.0) |  |  | (2.9) |  |  | (4.0) |  |  | (6.9) |  |  | (0.1) |  |  | (7.5) |  |  | (7.6) |  |  | (2.5) |
Recoveries Collected | 0.4 |  |  | 3.6 |  |  | 4.0 |  |  | 0.3 |  |  | 1.1 |  |  | 1.4 |  |  | — |  |  | 1.5 |  |  | 1.5 |  |  | 0.2 |
Ending Balance | $ | 197.3 |  |  | $ | 194.4 |  |  | $ | 391.7 |  |  | $ | 138.4 |  |  | $ | 36.7 |  |  | $ | 175.1 |  |  | $ | 31.1 |  |  | $ | 58.2 |  |  | $ | 89.3 |  |  | $ | 17.3 |
(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.
Components of Other Income, Net | The components of Other Income, Net on the statements of income were as follows:
| For the Three Months Ended
| March 31, 2022 |  | March 31, 2021
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Pension, SERP and PBOP Non-Service Income Components | $ | 54.3 |  |  | $ | 15.9 |  |  | $ | 21.0 |  |  | $ | 6.6 |  |  | $ | 20.1 |  |  | $ | 2.7 |  |  | $ | 10.1 |  |  | $ | 2.7 |
AFUDC Equity | 9.9 |  |  | 2.8 |  |  | 4.9 |  |  | 0.4 |  |  | 9.2 |  |  | 1.7 |  |  | 6.2 |  |  | 0.6 |
Equity in Earnings of Unconsolidated Affiliates | 0.4 |  |  | — |  |  | — |  |  | — |  |  | 3.7 |  |  | — |  |  | 0.1 |  |  | — |
Investment (Loss)/Income | (0.2) |  |  | (0.4) |  |  | (0.3) |  |  | 0.2 |  |  | (0.6) |  |  | 0.4 |  |  | 0.2 |  |  | 0.1 |
Interest Income | 6.7 |  |  | 1.3 |  |  | 3.5 |  |  | 0.3 |  |  | 1.5 |  |  | 0.1 |  |  | 0.1 |  |  | 0.7 |
Other | 0.5 |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.3 |  |  | — |  |  | 0.1 |  |  | 0.1 |
Total Other Income, Net | $ | 71.6 |  |  | $ | 19.6 |  |  | $ | 29.2 |  |  | $ | 7.5 |  |  | $ | 34.2 |  |  | $ | 4.9 |  |  | $ | 16.8 |  |  | $ | 4.2 |
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 |  |
(Millions of Dollars) | March 31, 2022 |  | March 31, 2021 |  |  |  |
Eversource | $ | 48.6 |  |  | $ | 48.6 |  |  |  |  |
CL&P | 37.8 |  |  | 39.2 |  |  |  |  |
Non-cash Investing Activities | Non-cash investing activities include plant additions included in Accounts Payable as follows:
(Millions of Dollars) | As of March 31, 2022 |  | As of March 31, 2021
Eversource | $ | 385.6 |  |  | $ | 262.9 |
CL&P | 102.1 |  |  | 70.9 |
NSTAR Electric | 85.8 |  |  | 68.2 |
PSNH | 49.5 |  |  | 23.5 |
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 March 31, 2022 |  | As of December 31, 2021
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Cash as reported on the Balance Sheets | $ | 46.2 |  |  | $ | 21.6 |  |  | $ | 0.7 |  |  | $ | 3.8 |  |  | $ | 66.8 |  |  | $ | 55.8 |  |  | $ | 0.7 |  |  | $ | — |
Restricted cash included in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Special Deposits | 73.3 |  |  | 8.7 |  |  | 17.3 |  |  | 16.6 |  |  | 78.2 |  |  | 18.7 |  |  | 17.4 |  |  | 31.4 |
Marketable Securities | 26.0 |  |  | 0.3 |  |  | 0.1 |  |  | 0.5 |  |  | 31.3 |  |  | 0.3 |  |  | 0.1 |  |  | 0.5 |
Other Long-Term Assets | 19.1 |  |  | — |  |  | — |  |  | 3.2 |  |  | 44.7 |  |  | — |  |  | — |  |  | 3.2 |
Cash and Restricted Cash as reported on the Statements of Cash Flows | $ | 164.6 |  |  | $ | 30.6 |  |  | $ | 18.1 |  |  | $ | 24.1 |  |  | $ | 221.0 |  |  | $ | 74.8 |  |  | $ | 18.2 |  |  | $ | 35.1 |

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