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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended
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Jun. 30, 2022
Accounting Policies [Abstract] |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Basis of Presentation Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business. Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas, NSTAR Gas and Eversource Gas Company of Massachusetts (EGMA) (natural gas utilities), and Aquarion (water utilities). Eversource provides energy delivery and/or water service to approximately 4.4 million electric, natural gas and water customers through ten regulated utilities in Connecticut, Massachusetts and New Hampshire. The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries. Intercompany transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P are herein collectively referred to as the "financial statements." The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. The accompanying financial statements should be read in conjunction with the Combined Notes to Financial Statements included in Item 8, "Financial Statements and Supplementary Data," of the Eversource 2021 Form 10-K, which was filed with the SEC on February 17, 2022. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of June 30, 2022 and December 31, 2021, and the results of operations, comprehensive income and common shareholders' equity for the three and six months ended June 30, 2022 and 2021 and the cash flows for the six months ended June 30, 2022 and 2021. The results of operations and comprehensive income for the three and six months ended June 30, 2022 and 2021 and the cash flows for the six months ended June 30, 2022 and 2021 are not necessarily indicative of the results expected for a full year. CYAPC and YAEC are inactive regional nuclear power companies engaged in the long-term storage of their spent nuclear fuel. Eversource consolidates the operations of CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent. Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements. Eversource holds several equity ownership interests that are not consolidated and are accounted for under the equity method. Eversource's utility subsidiaries' electric, natural gas and water distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information. Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation. B. Allowance for Uncollectible Accounts Receivables, Net on the balance sheets primarily includes trade receivables from retail customers and customers related to wholesale transmission contracts, wholesale market sales, sales of RECs, and property rentals. Receivables, Net also includes customer receivables for the purchase of electricity from a competitive third party supplier, the current portion of customer energy efficiency loans, property damage receivables and other miscellaneous receivables. There is no material concentration of receivables. Receivables are recorded at amortized cost, net of a credit loss provision (or allowance for uncollectible accounts). Receivables are presented net of expected credit losses at estimated net realizable value by maintaining an allowance for uncollectible accounts. The current expected credit loss (CECL) model is applied to receivables for purposes of calculating the allowance for uncollectible accounts. This model is based on expected losses and results in the recognition of estimated expected credit losses, including uncollectible amounts for both billed and unbilled revenues, over the life of the receivable at the time a receivable is recorded. The allowance for uncollectible accounts is determined based upon a variety of judgments and factors, including an aging-based quantitative assessment that applies an estimated uncollectible percentage to each receivable aging category. Factors in determining credit loss include historical collection, write-off experience, analysis of delinquency statistics, and management's assessment of collectability from customers, including current conditions, customer payment trends, the impact on customer bills because of energy usage trends and changes in rates, flexible payment plans and financial hardship arrearage management programs being offered to customers, reasonable forecasts, and expectations of future collectability and collection efforts. Management continuously assesses the collectability of receivables and adjusts estimates based on actual experience and future expectations based on economic conditions, collection efforts and other factors. Management also monitors the aging analysis of receivables to determine if there are changes in the collections of accounts receivable. Receivable balances are written off against the allowance for uncollectible accounts when the customer accounts are no longer in service and these balances are deemed to be uncollectible. Management concluded that the reserve balance as of June 30, 2022 adequately reflected the collection risk and net realizable value for its receivables. As of June 30, 2022 and December 31, 2021, the total amount incurred as a result of COVID-19 included in the allowance for uncollectible accounts was $63.1 million and $55.3 million at Eversource, $20.4 million and $23.9 million at CL&P, and $7.5 million and $9.0 million at NSTAR Electric, respectively. At our Connecticut and Massachusetts utilities, the COVID-19 related uncollectible amounts were deferred either as incremental regulatory costs or deferred through existing regulatory tracking mechanisms that recover uncollectible energy supply costs, as management believes it is probable that these costs will ultimately be recovered from customers in future rates. No COVID-19 related uncollectible amounts were deferred at PSNH as a result of a July 2021 NHPUC order. Based on the status of our COVID-19 regulatory dockets, policies and practices in the jurisdictions in which we operate, we believe the state regulatory commissions in Connecticut and Massachusetts will allow us to recover our incremental uncollectible customer receivable costs associated with COVID-19. The PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 180 days and 90 days, respectively. The DPU allows NSTAR Electric, NSTAR Gas and EGMA to recover in rates amounts associated with certain uncollectible hardship accounts receivable. These uncollectible hardship customer account balances are included in Regulatory Assets or Other Long-Term Assets on the balance sheets. Hardship customers are protected from shut-off in certain circumstances, and historical collection experience has reflected a higher default risk as compared to the rest of the receivable population. Management uses a higher credit risk profile for this pool of trade receivables as compared to non-hardship receivables. The allowance for uncollectible hardship accounts is included in the total uncollectible allowance balance. The total allowance for uncollectible accounts is included in Receivables, Net on the balance sheets. The activity in the allowance for uncollectible accounts by portfolio segment as of June 30 th 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 | $ | 225.5 |  |  | $ | 206.7 |  |  | $ | 432.2 |  |  | $ | 140.1 |  |  | $ | 40.4 |  |  | $ | 180.5 |  |  | $ | 39.7 |  |  | $ | 55.1 |  |  | $ | 94.8 |  |  | $ | 26.2 |
Uncollectible Expense | — |  |  | 12.9 |  |  | 12.9 |  |  | — |  |  | 2.9 |  |  | 2.9 |  |  | — |  |  | 4.0 |  |  | 4.0 |  |  | 2.0 |
Uncollectible Costs Deferred (1) | 21.4 |  |  | 12.6 |  |  | 34.0 |  |  | 15.0 |  |  | 2.2 |  |  | 17.2 |  |  | 5.4 |  |  | 2.4 |  |  | 7.8 |  |  | 0.1 |
Write-Offs | (4.6) |  |  | (21.1) |  |  | (25.7) |  |  | (3.3) |  |  | (6.2) |  |  | (9.5) |  |  | (0.1) |  |  | (7.7) |  |  | (7.8) |  |  | (1.3) |
Recoveries Collected | 0.4 |  |  | 4.0 |  |  | 4.4 |  |  | 0.3 |  |  | 1.3 |  |  | 1.6 |  |  | — |  |  | 1.7 |  |  | 1.7 |  |  | 0.3 |
Ending Balance | $ | 242.7 |  |  | $ | 215.1 |  |  | $ | 457.8 |  |  | $ | 152.1 |  |  | $ | 40.6 |  |  | $ | 192.7 |  |  | $ | 45.0 |  |  | $ | 55.5 |  |  | $ | 100.5 |  |  | $ | 27.3 |
Six 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 | — |  |  | 30.0 |  |  | 30.0 |  |  | — |  |  | 6.7 |  |  | 6.7 |  |  | — |  |  | 8.7 |  |  | 8.7 |  |  | 4.5 |
Uncollectible Costs Deferred (1) | 22.4 |  |  | 27.3 |  |  | 49.7 |  |  | 11.0 |  |  | — |  |  | 11.0 |  |  | 2.1 |  |  | 7.8 |  |  | 9.9 |  |  | 1.1 |
Write-Offs | (6.9) |  |  | (43.1) |  |  | (50.0) |  |  | (4.4) |  |  | (6.7) |  |  | (11.1) |  |  | (0.4) |  |  | (18.3) |  |  | (18.7) |  |  | (3.1) |
Recoveries Collected | 1.1 |  |  | 9.6 |  |  | 10.7 |  |  | 0.9 |  |  | 3.9 |  |  | 4.8 |  |  | — |  |  | 3.6 |  |  | 3.6 |  |  | 0.5 |
Ending Balance | $ | 242.7 |  |  | $ | 215.1 |  |  | $ | 457.8 |  |  | $ | 152.1 |  |  | $ | 40.6 |  |  | $ | 192.7 |  |  | $ | 45.0 |  |  | $ | 55.5 |  |  | $ | 100.5 |  |  | $ | 27.3 |
| 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 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 197.3 |  |  | $ | 194.4 |  |  | $ | 391.7 |  |  | $ | 138.4 |  |  | $ | 36.7 |  |  | $ | 175.1 |  |  | $ | 31.1 |  |  | $ | 58.2 |  |  | $ | 89.3 |  |  | $ | 17.3 |
Uncollectible Expense | — |  |  | 11.4 |  |  | 11.4 |  |  | — |  |  | 2.8 |  |  | 2.8 |  |  | — |  |  | 3.5 |  |  | 3.5 |  |  | 2.0 |
Uncollectible Costs Deferred (1) | 16.6 |  |  | 24.5 |  |  | 41.1 |  |  | 9.3 |  |  | 8.3 |  |  | 17.6 |  |  | 4.9 |  |  | 6.9 |  |  | 11.8 |  |  | (0.3) |
Write-Offs | (3.4) |  |  | (18.1) |  |  | (21.5) |  |  | (2.3) |  |  | (5.4) |  |  | (7.7) |  |  | (0.1) |  |  | (7.7) |  |  | (7.8) |  |  | (2.0) |
Recoveries Collected | 0.2 |  |  | 2.9 |  |  | 3.1 |  |  | 0.2 |  |  | 0.8 |  |  | 1.0 |  |  | — |  |  | 1.2 |  |  | 1.2 |  |  | 0.2 |
Ending Balance | $ | 210.7 |  |  | $ | 215.1 |  |  | $ | 425.8 |  |  | $ | 145.6 |  |  | $ | 43.2 |  |  | $ | 188.8 |  |  | $ | 35.9 |  |  | $ | 62.1 |  |  | $ | 98.0 |  |  | $ | 17.2 |
Six 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 | — |  |  | 27.7 |  |  | 27.7 |  |  | — |  |  | 6.6 |  |  | 6.6 |  |  | — |  |  | 7.4 |  |  | 7.4 |  |  | 3.2 |
Uncollectible Costs Deferred (1) | 22.0 |  |  | 51.6 |  |  | 73.6 |  |  | 21.2 |  |  | 15.7 |  |  | 36.9 |  |  | (3.5) |  |  | 15.2 |  |  | 11.7 |  |  | 0.8 |
Write-Offs | (6.7) |  |  | (34.8) |  |  | (41.5) |  |  | (5.2) |  |  | (9.3) |  |  | (14.5) |  |  | (0.3) |  |  | (15.2) |  |  | (15.5) |  |  | (4.5) |
Recoveries Collected | 0.6 |  |  | 6.5 |  |  | 7.1 |  |  | 0.5 |  |  | 1.9 |  |  | 2.4 |  |  | — |  |  | 2.8 |  |  | 2.8 |  |  | 0.5 |
Ending Balance | $ | 210.7 |  |  | $ | 215.1 |  |  | $ | 425.8 |  |  | $ | 145.6 |  |  | $ | 43.2 |  |  | $ | 188.8 |  |  | $ | 35.9 |  |  | $ | 62.1 |  |  | $ | 98.0 |  |  | $ | 17.2 |
(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. C. Fair Value Measurements Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases" or "normal sales" (normal) and to the marketable securities held in trusts. Fair value measurement guidance is also applied to valuations of the investments used to calculate the funded status of pension and PBOP plans, the nonrecurring fair value measurements of nonfinancial assets such as goodwill, long-lived assets, equity method investments, AROs, and in the valuation of acquisitions. The fair value measurement guidance was also applied in estimating the fair value of preferred stock, long-term debt and RRBs. Fair Value Hierarchy: In measuring fair value, Eversource uses observable market data when available in order to minimize the use of unobservable inputs. Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes. The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement. Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis. The levels of the fair value hierarchy are described below: Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable. Level 3 - Quoted market prices are not available. Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable. Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products. Uncategorized - Investments that are measured at net asset value are not categorized within the fair value hierarchy. Determination of Fair Value: The valuation techniques and inputs used in Eversource's fair value measurements are described in Note 4, "Derivative Instruments," Note 5, "Marketable Securities," and Note 10, "Fair Value of Financial Instruments," to the financial statements. D. Other Income, Net The components of Other Income, Net on the statements of income were as follows:
| For the Three Months Ended
| June 30, 2022 |  | June 30, 2021
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Pension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion | $ | 54.9 |  |  | $ | 16.2 |  |  | $ | 21.4 |  |  | $ | 6.7 |  |  | $ | 22.1 |  |  | $ | 4.3 |  |  | $ | 10.2 |  |  | $ | 2.7 |
AFUDC Equity | 11.2 |  |  | 2.8 |  |  | 6.1 |  |  | 0.6 |  |  | 9.2 |  |  | 1.7 |  |  | 6.2 |  |  | 0.3 |
Equity in Earnings of Unconsolidated Affiliates (1) | 16.6 |  |  | — |  |  | 0.1 |  |  | — |  |  | 4.7 |  |  | — |  |  | 0.1 |  |  | — |
Investment Income/(Loss) | 1.3 |  |  | (0.7) |  |  | 0.5 |  |  | 0.1 |  |  | 1.9 |  |  | 1.2 |  |  | 0.6 |  |  | 0.3 |
Interest Income | 9.5 |  |  | 1.5 |  |  | 6.1 |  |  | 0.4 |  |  | 8.4 |  |  | 2.7 |  |  | 4.8 |  |  | 0.9 |
Other | 0.4 |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | 0.1 |
Total Other Income, Net | $ | 93.9 |  |  | $ | 19.8 |  |  | $ | 34.3 |  |  | $ | 7.8 |  |  | $ | 46.6 |  |  | $ | 9.9 |  |  | $ | 21.9 |  |  | $ | 4.3 |
| For the Six Months Ended
| June 30, 2022 |  | June 30, 2021
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Pension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion | $ | 109.2 |  |  | $ | 32.1 |  |  | $ | 42.4 |  |  | $ | 13.3 |  |  | $ | 42.2 |  |  | $ | 7.0 |  |  | $ | 20.2 |  |  | $ | 5.4 |
AFUDC Equity | 21.1 |  |  | 5.6 |  |  | 11.0 |  |  | 1.0 |  |  | 18.4 |  |  | 3.4 |  |  | 12.4 |  |  | 0.9 |
Equity in Earnings of Unconsolidated Affiliates (1) | 17.1 |  |  | — |  |  | 0.1 |  |  | — |  |  | 8.4 |  |  | — |  |  | 0.2 |  |  | — |
Investment Income/(Loss) | 1.1 |  |  | (1.1) |  |  | 0.2 |  |  | 0.3 |  |  | 1.3 |  |  | 1.5 |  |  | 0.8 |  |  | 0.4 |
Interest Income | 16.1 |  |  | 2.8 |  |  | 9.6 |  |  | 0.7 |  |  | 9.9 |  |  | 2.8 |  |  | 4.9 |  |  | 1.6 |
Other | 0.8 |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.6 |  |  | 0.1 |  |  | 0.2 |  |  | 0.1 |
Total Other Income, Net | $ | 165.4 |  |  | $ | 39.4 |  |  | $ | 63.5 |  |  | $ | 15.3 |  |  | $ | 80.8 |  |  | $ | 14.8 |  |  | $ | 38.7 |  |  | $ | 8.4 |
(1) Equity in earnings of unconsolidated affiliates includes $12.2 million of pre-tax unrealized gains associated with an investment in a renewable energy fund for the three and six months ended June 30, 2022. For the three and six months ended June 30, 2021, equity in earnings of unconsolidated affiliates included $2.1 million of pre-tax unrealized gains associated with this investment. E. Investments in Unconsolidated Affiliates Investments in entities that are not consolidated are included in long-term assets on the balance sheets and earnings impacts from these equity investments are included in Other Income, Net on the statements of income. Eversource's investments included the following:
(Millions of Dollars) | Ownership Interest |  | As of June 30, 2022 |  | As of December 31, 2021
Offshore Wind Business - North East Offshore | 50 | % |  | $ | 1,487.1 |  |  | $ | 1,213.6 |
Natural Gas Pipeline - Algonquin Gas Transmission, LLC | 15 | % |  | 119.3 |  |  | 121.9 |
Renewable Energy Investment Fund | 90 | % |  | 88.4 |  |  | 76.5 |
Other | various |  | 25.1 |  |  | 24.3 |
Total Investments in Unconsolidated Affiliates |  |  | $ | 1,719.9 |  |  | $ | 1,436.3 |
Offshore Wind Business: Eversource’s offshore wind business includes a 50 percent ownership interest in North East Offshore, which holds PPAs and contracts for the Revolution Wind, South Fork Wind and Sunrise Wind projects, as well as an undeveloped offshore lease area. The offshore wind investment includes capital expenditures for the three offshore wind projects, as well as capitalized costs related to future development, acquisition costs of offshore lease areas, and capitalized interest. Cash flows used in investing activities presented in Investments in Unconsolidated Affiliates, Net on the statements of cash flows relates to capital contributions in the offshore wind investment. On May 4, 2022, Eversource announced that it had initiated a strategic review of its offshore wind investment portfolio. As part of that review, Eversource is exploring strategic alternatives that could result in a potential sale of all, or part, of its 50 percent interest in its offshore wind partnership with Ørsted. Eversource has advanced its strategic review process and is working with its advisors on the outreach strategy and marketing materials, which will aid the Company in evaluating the alternatives available for its wind investment. In late July, Eversource started preliminary and targeted outreach to potential buyers. Eversource expects to complete this review during 2022. Eversource’s strategic review of its offshore wind investment does not impact the June 30, 2022 financial statements. F. Other Taxes Eversource's companies that serve customers in Connecticut collect gross receipts taxes levied by the state of Connecticut from their customers. 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 Six Months Ended
(Millions of Dollars) | June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021
Eversource | $ | 44.5 |  |  | $ | 39.9 |  |  | $ | 93.1 |  |  | $ | 88.5 |
CL&P | 39.0 |  |  | 35.4 |  |  | 76.8 |  |  | 74.6
As agents for state and local governments, Eversource's companies that serve customers in Connecticut and Massachusetts collect certain sales taxes that are recorded on a net basis with no impact on the statements of income. G. Supplemental Cash Flow Information Non-cash investing activities include plant additions included in Accounts Payable as follows:
(Millions of Dollars) | As of June 30, 2022 |  | As of June 30, 2021
Eversource | $ | 357.2 |  |  | $ | 344.8 |
CL&P | 96.7 |  |  | 66.4 |
NSTAR Electric | 75.1 |  |  | 103.8 |
PSNH | 49.6 |  |  | 33.9 |
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 June 30, 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 | $ | 29.5 |  |  | $ | 9.2 |  |  | $ | 5.3 |  |  | $ | 0.1 |  |  | $ | 66.8 |  |  | $ | 55.8 |  |  | $ | 0.7 |  |  | $ | — |
Restricted cash included in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Special Deposits | 90.8 |  |  | 8.7 |  |  | 17.4 |  |  | 30.9 |  |  | 78.2 |  |  | 18.7 |  |  | 17.4 |  |  | 31.4 |
Marketable Securities | 17.2 |  |  | — |  |  | — |  |  | 0.1 |  |  | 31.3 |  |  | 0.3 |  |  | 0.1 |  |  | 0.5 |
Other Long-Term Assets | 19.2 |  |  | — |  |  | — |  |  | 3.2 |  |  | 44.7 |  |  | — |  |  | — |  |  | 3.2 |
Cash and Restricted Cash as reported on the Statements of Cash Flows | $ | 156.7 |  |  | $ | 17.9 |  |  | $ | 22.7 |  |  | $ | 34.3 |  |  | $ | 221.0 |  |  | $ | 74.8 |  |  | $ | 18.2 |  |  | $ | 35.1 |
Special Deposits represent cash collections related to the PSNH RRB customer charges that are held in trust, required ISO-NE cash deposits, and CYAPC and YAEC cash balances. The December 31, 2021 balance also included a $10 million customer assistance fund to provide bill payment assistance to certain existing non-hardship and hardship customers carrying arrearages at CL&P established under the terms of the PURA-approved October 2021 settlement agreement. Those customers were provided with $10 million of bill forgiveness in the first quarter of 2022, which represented a non-cash transaction. Special Deposits are included in Current Assets on the balance sheets. Restricted cash included in Marketable Securities represents money market funds held in trusts to fund certain non-qualified executive benefits and restricted trusts to fund CYAPC and YAEC's spent nuclear fuel storage obligations. Restricted cash also includes an Energy Relief Fund for energy efficiency and clean energy measures in the Merrimack Valley and an additional energy efficiency program established under the terms of the EGMA 2020 settlement agreement. As of June 30, 2022, $20.0 million of this restricted cash was recorded as short-term in Special Deposits and $15.9 million was recorded in Other Long-Term Assets. As of December 31, 2021, this restricted cash totaled $41.5 million and was recorded in Other Long-Term Assets on the balance sheet.

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