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PREFERRED STOCK NOT SUBJECT TO MANDATORY REDEMPTION | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
PREFERRED STOCK NOT SUBJECT TO MANDATORY REDEMPTION | PREFERRED STOCK NOT SUBJECT TO MANDATORY REDEMPTION The CL&P and NSTAR Electric preferred stock is not subject to mandatory redemption and is presented as a noncontrolling interest of a subsidiary in Eversource's financial statements. CL&P is authorized to issue up to 9,000,000 shares of preferred stock, par value $50 per share, and NSTAR Electric is authorized to issue 2,890,000 shares of preferred stock, par value $100 per share. Holders of preferred stock of CL&P and NSTAR Electric are entitled to receive cumulative dividends in preference to any payment of dividends on the common stock. Upon liquidation, holders of preferred stock of CL&P and NSTAR Electric are entitled to receive a liquidation preference before any distribution to holders of common stock in an amount equal to the par value of the preferred stock plus accrued and unpaid dividends. If the net assets were to be insufficient to pay the liquidation preference in full, then the net assets would be distributed ratably to all holders of preferred stock. The preferred stock of CL&P and NSTAR Electric is subject to optional redemption by the CL&P and NSTAR Electric Boards of Directors at any time. Details of preferred stock not subject to mandatory redemption are as follows (in millions, except in redemption price and shares):
|  | Redemption Price Per Share |  | Shares Outstanding as of December 31, |  | As of December 31, |
Series |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
CL&P |  |  |  |  |  |  |  |  |  |  |
$1.90 | Series of 1947 |  | $ | 52.50 |  |  | 163,912 |  |  | 163,912 |  |  | $ | 8.2 |  |  | $ | 8.2 |  |
$2.00 | Series of 1947 |  | $ | 54.00 |  |  | 336,088 |  |  | 336,088 |  |  | 16.8 |  |  | 16.8 |  |
$2.04 | Series of 1949 |  | $ | 52.00 |  |  | 100,000 |  |  | 100,000 |  |  | 5.0 |  |  | 5.0 |  |
$2.20 | Series of 1949 |  | $ | 52.50 |  |  | 200,000 |  |  | 200,000 |  |  | 10.0 |  |  | 10.0 |  |
3.90% | Series of 1949 |  | $ | 50.50 |  |  | 160,000 |  |  | 160,000 |  |  | 8.0 |  |  | 8.0 |  |
$2.06 | Series E of 1954 |  | $ | 51.00 |  |  | 200,000 |  |  | 200,000 |  |  | 10.0 |  |  | 10.0 |  |
$2.09 | Series F of 1955 |  | $ | 51.00 |  |  | 100,000 |  |  | 100,000 |  |  | 5.0 |  |  | 5.0 |  |
4.50% | Series of 1956 |  | $ | 50.75 |  |  | 104,000 |  |  | 104,000 |  |  | 5.2 |  |  | 5.2 |  |
4.96% | Series of 1958 |  | $ | 50.50 |  |  | 100,000 |  |  | 100,000 |  |  | 5.0 |  |  | 5.0 |  |
4.50% | Series of 1963 |  | $ | 50.50 |  |  | 160,000 |  |  | 160,000 |  |  | 8.0 |  |  | 8.0 |  |
5.28% | Series of 1967 |  | $ | 51.43 |  |  | 200,000 |  |  | 200,000 |  |  | 10.0 |  |  | 10.0 |  |
$3.24 | Series G of 1968 |  | $ | 51.84 |  |  | 300,000 |  |  | 300,000 |  |  | 15.0 |  |  | 15.0 |  |
6.56% | Series of 1968 |  | $ | 51.44 |  |  | 200,000 |  |  | 200,000 |  |  | 10.0 |  |  | 10.0 |  |
Total CL&P |  |  |  | 2,324,000 |  |  | 2,324,000 |  |  | $ | 116.2 |  |  | $ | 116.2 |  |
NSTAR Electric |  |  |  |  |  |  |  |  |  |  |
4.25% | Series of 1956 |  | $ | 103.625 |  |  | 180,000 |  |  | 180,000 |  |  | $ | 18.0 |  |  | $ | 18.0 |  |
4.78% | Series of 1958 |  | $ | 102.80 |  |  | 250,000 |  |  | 250,000 |  |  | 25.0 |  |  | 25.0 |  |
Total NSTAR Electric |  |  |  | 430,000 |  |  | 430,000 |  |  | $ | 43.0 |  |  | $ | 43.0 |  |
Fair Value Adjustment due to Merger with NSTAR |  |  |  |  |  | (3.6) |  |  | (3.6) |  |
Other |  |  |  |  |  |  |  |  |  |  |
6.00% | Series of 1958 |  | $ | 100.00 |  |  | 13 |  |  | 23 |  |  | $ | — |  |  | $ | — |  |
Total Eversource - Noncontrolling Interest - Preferred Stock of Subsidiaries |  | $ | 155.6 |  |  | $ | 155.6 |  |

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- Definition The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent + Details
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