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SHORT-TERM AND LONG-TERM DEBT | 6 Months Ended
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Jun. 30, 2022
Debt Disclosure [Abstract] |
SHORT-TERM AND LONG-TERM DEBT | SHORT-TERM AND LONG-TERM DEBT Short-Term Debt - Commercial Paper Programs and Credit Agreements: Eversource parent has a $2.00 billion commercial paper program allowing Eversource parent to issue commercial paper as a form of short-term debt. Eversource parent, CL&P, PSNH, NSTAR Gas, Yankee Gas, EGMA and Aquarion Water Company of Connecticut are parties to a five-year $2.00 billion revolving credit facility, which terminates on October 15, 2026. This revolving credit facility serves to backstop Eversource parent's $2.00 billion commercial paper program. NSTAR Electric has a $650 million commercial paper program allowing NSTAR Electric to issue commercial paper as a form of short-term debt. NSTAR Electric is also a party to a five-year $650 million revolving credit facility, which terminates on October 15, 2026. This revolving credit facility serves to backstop NSTAR Electric's $650 million commercial paper program. The amount of borrowings outstanding and available under the commercial paper programs were as follows:
| Borrowings Outstanding as of |  | Available Borrowing Capacity as of |  | Weighted-Average Interest Rate as of
| June 30, 2022 |  | December 31, 2021 |  | June 30, 2022 |  | December 31, 2021 |  | June 30, 2022 |  | December 31, 2021
(Millions of Dollars) |  |  |  |  |
Eversource Parent Commercial Paper Program | $ | 124.5 |  |  | $ | 1,343.0 |  |  | $ | 1,875.5 |  |  | $ | 657.0 |  |  | 1.81 | % |  | 0.31 | %
NSTAR Electric Commercial Paper Program | 63.0 |  |  | 162.5 |  |  | 587.0 |  |  | 487.5 |  |  | 1.63 | % |  | 0.14 | %
There were no borrowings outstanding on the revolving credit facilities as of June 30, 2022 or December 31, 2021. CL&P and PSNH have uncommitted line of credit agreements totaling $450 million and $300 million, respectively, which will expire on May 12, 2023. There are no borrowings outstanding on either the CL&P or PSNH uncommitted line of credit agreements as of June 30, 2022. Amounts outstanding under the commercial paper programs are included in Notes Payable and classified in current liabilities on the Eversource and NSTAR Electric balance sheets, as all borrowings are outstanding for no more than 364 days at one time. As a result of the NSTAR Gas long-term debt issuance in July 2022, $88.7 million of commercial paper borrowings under the Eversource parent commercial paper program were reclassified as Long-Term Debt as of June 30, 2022. Intercompany Borrowings: Eversource parent uses its available capital resources to provide loans to its subsidiaries to assist in meeting their short-term borrowing needs. Eversource parent records intercompany interest income from its loans to subsidiaries, which is eliminated in consolidation. Intercompany loans from Eversource parent to its subsidiaries are eliminated in consolidation on Eversource's balance sheets. As of June 30, 2022, there were intercompany loans from Eversource parent to CL&P of $67.5 million, to PSNH of $89.3 million, and to a subsidiary of NSTAR Electric of $3.2 million. As of December 31, 2021, there were intercompany loans from Eversource parent to PSNH of $110.6 million. Intercompany loans from Eversource parent are included in Notes Payable to Eversource Parent and classified in current liabilities on the respective subsidiary's balance sheets. Sources and Uses of Cash: The Company expects the future operating cash flows of Eversource, CL&P, NSTAR Electric and PSNH, along with existing borrowing availability and access to both debt and equity markets, will be sufficient to meet any working capital and future operating requirements, and capital investment forecasted opportunities. Availability under Long-Term Debt Issuance Authorizations: On June 14, 2022, the DPU approved NSTAR Gas’ request for authorization to issue up to $325 million in long-term debt through December 31, 2024. Long-Term Debt Issuances and Repayments: The following table summarizes long-term debt issuances and repayments:
(Millions of Dollars) | Issuance/(Repayment) |  | Issue Date or Repayment Date |  | Maturity Date |  | Use of Proceeds for Issuance/ Repayment Information
NSTAR Electric: |  |  |  |  |  |  |
4.55% 2022 Debentures | $ | 450.0 |  |  | May 2022 |  | June 2052 |  | Repaid short-term debt, paid capital expenditures and working capital
Other: |  |  |  |  |  |  |
Eversource Parent 2.90% Series V Senior Notes | 650.0 |  |  | February 2022 |  | March 2027 |  | Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 3.38% Series W Senior Notes | 650.0 |  |  | February 2022 |  | March 2032 |  | Repaid Series K Senior Notes at maturity and short-term debt
Eversource Parent 4.20% Series X Senior Notes | 900.0 |  |  | June 2022 |  | June 2024 |  | Repaid short-term debt and paid working capital
Eversource Parent 4.60% Series Y Senior Notes | 600.0 |  |  | June 2022 |  | July 2027 |  | Repaid short-term debt and paid working capital
Eversource Parent 2.75% Series K Senior Notes | (750.0) |  |  | March 2022 |  | March 2022 |  | Paid at maturity
Yankee Gas 8.48% Series B First Mortgage Bonds | (20.0) |  |  | March 2022 |  | March 2022 |  | Paid at maturity
EGMA 4.70% Series C First Mortgage Bonds | 100.0 |  |  | June 2022 |  | June 2052 |  | Repaid short-term debt, paid capital expenditures and for general corporate purposes
NSTAR Gas 4.40% Series V First Mortgage Bonds | 125.0 |  |  | July 2022 |  | August 2032 |  | Repaid short-term debt, paid capital expenditures and for general corporate purposes

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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