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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Components of Lease Cost | The components of lease cost, prior to amounts capitalized, are as follows:
Eversource | For the Years Ended December 31,
(Millions of Dollars) | 2022 |  | 2021 |  | 2020
Finance Lease Cost: |  |  |  |  |
Amortization of Right-of-use-Assets | $ | 8.3 |  |  | $ | 4.6 |  |  | $ | 2.6 |
Interest on Lease Liabilities | 2.0 |  |  | 3.9 |  |  | 1.4 |
Total Finance Lease Cost | 10.3 |  |  | 8.5 |  |  | 4.0 |
Operating Lease Cost | 11.6 |  |  | 12.2 |  |  | 11.1 |
Variable Lease Cost | 78.1 |  |  | 61.0 |  |  | 57.8 |
Total Lease Cost | $ | 100.0 |  |  | $ | 81.7 |  |  | $ | 72.9 |
| For the Years Ended December 31,
| 2022 |  | 2021 |  | 2020
(Millions of Dollars) | CL&P |  | NSTAR Electric |  | PSNH |  | CL&P |  | NSTAR Electric |  | PSNH |  | CL&P |  | NSTAR Electric |  | PSNH
Finance Lease Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of Right-of-use-Assets | $ | — |  |  | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | 0.5 |  |  | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | 0.7 |  |  | $ | 0.2 |  |  | $ | 0.1 |
Interest on Lease Liabilities | — |  |  | 0.6 |  |  | — |  |  | 0.1 |  |  | 0.6 |  |  | — |  |  | 0.3 |  |  | 0.6 |  |  | — |
Total Finance Lease Cost | — |  |  | 0.8 |  |  | 0.1 |  |  | 0.6 |  |  | 0.8 |  |  | 0.1 |  |  | 1.0 |  |  | 0.8 |  |  | 0.1 |
Operating Lease Cost | 0.3 |  |  | 2.3 |  |  | 0.1 |  |  | 0.3 |  |  | 2.3 |  |  | 0.1 |  |  | 0.6 |  |  | 2.1 |  |  | 0.1 |
Variable Lease Cost | 25.6 |  |  | — |  |  | 52.5 |  |  | 16.2 |  |  | — |  |  | 44.8 |  |  | 12.2 |  |  | — |  |  | 45.6 |
Total Lease Cost | $ | 25.9 |  |  | $ | 3.1 |  |  | $ | 52.7 |  |  | $ | 17.1 |  |  | $ | 3.1 |  |  | $ | 45.0 |  |  | $ | 13.8 |  |  | $ | 2.9 |  |  | $ | 45.8 |
Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases is as follows:
|  |  | As of December 31, 2022 |  | As of December 31, 2021
(Millions of Dollars) | Balance Sheet Classification |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Operating Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Right-of-use-Assets, Net | Other Long-Term Assets |  | $ | 56.9 |  |  | $ | 2.2 |  |  | $ | 22.5 |  |  | $ | — |  |  | $ | 47.2 |  |  | $ | 0.1 |  |  | $ | 24.3 |  |  | $ | 0.3 |
Operating Lease Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Portion | Other Current Liabilities |  | $ | 9.0 |  |  | $ | 0.6 |  |  | $ | 1.2 |  |  | $ | — |  |  | $ | 10.0 |  |  | $ | 0.1 |  |  | $ | 1.1 |  |  | $ | — |
Long-Term | Other Long-Term Liabilities |  | 47.9 |  |  | 1.6 |  |  | 21.3 |  |  | — |  |  | 37.2 |  |  | — |  |  | 23.2 |  |  | 0.3 |
Total Operating Lease Liabilities |  | $ | 56.9 |  |  | $ | 2.2 |  |  | $ | 22.5 |  |  | $ | — |  |  | $ | 47.2 |  |  | $ | 0.1 |  |  | $ | 24.3 |  |  | $ | 0.3 |
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Right-of-use-Assets, Net | Property, Plant and Equipment, Net |  | $ | 54.5 |  |  | $ | — |  |  | $ | 3.2 |  |  | $ | — |  |  | $ | 58.0 |  |  | $ | — |  |  | $ | 3.3 |  |  | $ | 0.7 |
Finance Lease Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Portion | Other Current Liabilities |  | $ | 3.8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |
Long-Term | Other Long-Term Liabilities |  | 54.2 |  |  | — |  |  | 4.9 |  |  | — |  |  | 55.4 |  |  | — |  |  | 4.9 |  |  | 0.6 |
Total Finance Lease Liabilities |  |  | $ | 58.0 |  |  | $ | — |  |  | $ | 4.9 |  |  | $ | — |  |  | $ | 59.3 |  |  | $ | — |  |  | $ | 4.9 |  |  | $ | 0.7 |
Other Information Related to Leases | Other information related to leases is as follows:
| As of December 31,
| 2022 |  | 2021
| Eversource |  | CL&P |  | NSTAR Electric |  | PSNH |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Weighted-Average Remaining Lease Term (Years): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Leases | 11 |  | 4 |  | 17 |  | — |  |  | 13 |  | 7 |  | 18 |  | 7
Finance Leases | 15 |  | — |  |  | 19 |  | — |  |  | 16 |  | — |  |  | 20 |  | 7
Weighted-Average Discount Rate (Percentage): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Leases | 3.2 | % |  | 3.8 | % |  | 4.0 | % |  | — | % |  | 4.1 | % |  | 3.0 | % |  | 4.0 | % |  | 3.7 | %
Finance Leases | 2.7 | % |  | — | % |  | 2.9 | % |  | — | % |  | 2.7 | % |  | — | % |  | 2.9 | % |  | 3.5 | %
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
For the Year Ended December 31, 2022 |  |  |  |  |  |  |
Cash Paid for Amounts Included in the Measurement of Lease Liabilities: |  |  |  |  |  |  |
Operating Cash Flows from Operating Leases | $ | 11.3 |  |  | $ | 0.3 |  |  | $ | 2.1 |  |  | $ | 0.1 |
Operating Cash Flows from Finance Leases | 2.0 |  |  | — |  |  | 0.6 |  |  | — |
Financing Cash Flows from Finance Leases | 3.9 |  |  | — |  |  | — |  |  | 0.1 |
Supplemental Non-Cash Information on Lease Liabilities: |  |  |  |  |  |  |
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities | 18.9 |  |  | 2.4 |  |  | — |  |  | — |
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities | 3.5 |  |  | — |  |  | — |  |  | — |
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
For the Year Ended December 31, 2021 |  |  |  |  |  |  |
Cash Paid for Amounts Included in the Measurement of Lease Liabilities: |  |  |  |  |  |  |
Operating Cash Flows from Operating Leases | $ | 12.1 |  |  | $ | 0.3 |  |  | $ | 2.1 |  |  | $ | 0.1 |
Operating Cash Flows from Finance Leases | 3.4 |  |  | 0.1 |  |  | 0.6 |  |  | — |
Financing Cash Flows from Finance Leases | 4.1 |  |  | 1.4 |  |  | — |  |  | 0.1 |
Supplemental Non-Cash Information on Lease Liabilities: |  |  |  |  |  |  |
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities | 2.1 |  |  | — |  |  | 1.9 |  |  | — |
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities | 2.3 |  |  | — |  |  | — |  |  | — |
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
For the Year Ended December 31, 2020 |  |  |  |  |  |  |
Cash Paid for Amounts Included in the Measurement of Lease Liabilities: |  |  |  |  |  |  |
Operating Cash Flows from Operating Leases | $ | 10.9 |  |  | $ | 0.6 |  |  | $ | 1.8 |  |  | $ | 0.1 |
Operating Cash Flows from Finance Leases | 1.7 |  |  | 0.3 |  |  | 0.6 |  |  | — |
Financing Cash Flows from Finance Leases | 2.8 |  |  | 1.6 |  |  | — |  |  | 0.1 |
Supplemental Non-Cash Information on Lease Liabilities: |  |  |  |  |  |  |
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities | 0.6 |  |  | 0.1 |  |  | 0.2 |  |  | — |
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities | 0.7 |  |  | — |  |  | 0.3 |  |  | — |
Future Minimum Lease Payments under Long-Term Finance Leases | Future minimum lease payments, excluding variable costs, under long-term leases, as of December 31, 2022 are as follows:
| Operating Leases |  | Finance Leases
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | Eversource |  | NSTAR Electric
Year Ending December 31, |  |  |  |  |  |  |  |  |
2023 | $ | 10.3 |  |  | $ | 0.7 |  |  | $ | 2.1 |  |  | $ | 5.9 |  |  | $ | 0.6 |
2024 | 9.3 |  |  | 0.7 |  |  | 2.1 |  |  | 5.9 |  |  | 0.6 |
2025 | 6.4 |  |  | 0.7 |  |  | 1.7 |  |  | 5.9 |  |  | 0.6 |
2026 | 5.5 |  |  | 0.3 |  |  | 1.7 |  |  | 5.4 |  |  | 0.7 |
2027 | 5.2 |  |  | — |  |  | 1.7 |  |  | 5.4 |  |  | 0.7 |
Thereafter | 31.2 |  |  | — |  |  | 23.6 |  |  | 50.9 |  |  | 11.8 |
Future lease payments | 67.9 |  |  | 2.4 |  |  | 32.9 |  |  | 79.4 |  |  | 15.0 |
Less amount representing interest | 11.0 |  |  | 0.2 |  |  | 10.4 |  |  | 21.4 |  |  | 10.1 |
Present value of future minimum lease payments | $ | 56.9 |  |  | $ | 2.2 |  |  | $ | 22.5 |  |  | $ | 58.0 |  |  | $ | 4.9 |
Future Minimum Lease Payments under Long-Term Operating Leases | Future minimum lease payments, excluding variable costs, under long-term leases, as of December 31, 2022 are as follows:
| Operating Leases |  | Finance Leases
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | Eversource |  | NSTAR Electric
Year Ending December 31, |  |  |  |  |  |  |  |  |
2023 | $ | 10.3 |  |  | $ | 0.7 |  |  | $ | 2.1 |  |  | $ | 5.9 |  |  | $ | 0.6 |
2024 | 9.3 |  |  | 0.7 |  |  | 2.1 |  |  | 5.9 |  |  | 0.6 |
2025 | 6.4 |  |  | 0.7 |  |  | 1.7 |  |  | 5.9 |  |  | 0.6 |
2026 | 5.5 |  |  | 0.3 |  |  | 1.7 |  |  | 5.4 |  |  | 0.7 |
2027 | 5.2 |  |  | — |  |  | 1.7 |  |  | 5.4 |  |  | 0.7 |
Thereafter | 31.2 |  |  | — |  |  | 23.6 |  |  | 50.9 |  |  | 11.8 |
Future lease payments | 67.9 |  |  | 2.4 |  |  | 32.9 |  |  | 79.4 |  |  | 15.0 |
Less amount representing interest | 11.0 |  |  | 0.2 |  |  | 10.4 |  |  | 21.4 |  |  | 10.1 |
Present value of future minimum lease payments | $ | 56.9 |  |  | $ | 2.2 |  |  | $ | 22.5 |  |  | $ | 58.0 |  |  | $ | 4.9 |

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