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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2024
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) | 2024 |  | 2023 |  | 2022
Finance Lease Cost: |  |  |  |  |
Amortization of Right-of-use-Assets | $ | 6.4 |  |  | $ | 4.8 |  |  | $ | 8.3 |
Interest on Lease Liabilities | 2.7 |  |  | 2.0 |  |  | 2.0 |
Total Finance Lease Cost | 9.1 |  |  | 6.8 |  |  | 10.3 |
Operating Lease Cost | 15.2 |  |  | 11.4 |  |  | 11.6 |
Variable Lease Cost | 18.3 |  |  | 69.2 |  |  | 78.1 |
Total Lease Cost | $ | 42.6 |  |  | $ | 87.4 |  |  | 100.0 |
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
(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 | $ | 1.7 |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | 0.1 |
Interest on Lease Liabilities | 0.8 |  |  | 0.6 |  |  | — |  |  | — |  |  | 0.6 |  |  | — |  |  | — |  |  | 0.6 |  |  | — |
Total Finance Lease Cost | 2.5 |  |  | 0.8 |  |  | — |  |  | — |  |  | 0.8 |  |  | — |  |  | — |  |  | 0.8 |  |  | 0.1 |
Operating Lease Cost | 2.6 |  |  | 5.3 |  |  | 1.8 |  |  | 0.7 |  |  | 3.0 |  |  | 0.4 |  |  | 0.3 |  |  | 2.3 |  |  | 0.1 |
Variable Lease Cost | 18.9 |  |  | — |  |  | (0.6) |  |  | 21.9 |  |  | — |  |  | 47.3 |  |  | 25.6 |  |  | — |  |  | 52.5 |
Total Lease Cost | $ | 24.0 |  |  | $ | 6.1 |  |  | $ | 1.2 |  |  | $ | 22.6 |  |  | $ | 3.8 |  |  | $ | 47.7 |  |  | $ | 25.9 |  |  | $ | 3.1 |  |  | $ | 52.7 |
Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases is as follows:
|  |  | As of December 31, 2024 |  | As of December 31, 2023
(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 |  | $ | 56.1 |  |  | $ | 7.7 |  |  | $ | 29.4 |  |  | $ | 3.3 |  |  | $ | 53.5 |  |  | $ | 2.2 |  |  | $ | 27.7 |  |  | $ | 4.7 |
Operating Lease Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Portion | Other Current Liabilities |  | $ | 10.4 |  |  | $ | 2.2 |  |  | $ | 3.7 |  |  | $ | 1.7 |  |  | $ | 9.5 |  |  | $ | 0.8 |  |  | $ | 2.2 |  |  | $ | 1.5 |
Long-Term | Other Long-Term Liabilities |  | 45.7 |  |  | 5.5 |  |  | 25.7 |  |  | 1.6 |  |  | 44.0 |  |  | 1.4 |  |  | 25.5 |  |  | 3.2 |
Total Operating Lease Liabilities |  | $ | 56.1 |  |  | $ | 7.7 |  |  | $ | 29.4 |  |  | $ | 3.3 |  |  | $ | 53.5 |  |  | $ | 2.2 |  |  | $ | 27.7 |  |  | $ | 4.7 |
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Right-of-use-Assets, Net | Property, Plant and Equipment, Net |  | $ | 61.9 |  |  | $ | 16.6 |  |  | $ | 2.8 |  |  | $ | — |  |  | $ | 68.6 |  |  | $ | 18.3 |  |  | $ | 3.0 |  |  | $ | — |
Finance Lease Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Portion | Other Current Liabilities |  | $ | 5.6 |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 5.4 |  |  | $ | 1.4 |  |  | $ | — |  |  | $ | — |
Long-Term | Other Long-Term Liabilities |  | 62.1 |  |  | 15.6 |  |  | 4.9 |  |  | — |  |  | 67.3 |  |  | 16.9 |  |  | 4.9 |  |  | — |
Total Finance Lease Liabilities |  |  | $ | 67.7 |  |  | $ | 17.1 |  |  | $ | 4.9 |  |  | $ | — |  |  | $ | 72.7 |  |  | $ | 18.3 |  |  | $ | 4.9 |  |  | $ | — |
Other Information Related to Leases | Other information related to leases is as follows:
| As of December 31,
| 2024 |  | 2023
| Eversource |  | CL&P |  | NSTAR Electric |  | PSNH |  | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
Weighted-Average Remaining Lease Term (Years): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Leases | 9 |  | 4 |  | 12 |  | 2 |  | 9 |  | 4 |  | 13 |  | 3
Finance Leases | 12 |  | 8 |  | 17 |  | — |  |  | 13 |  | 9 |  | 18 |  | — |
Weighted-Average Discount Rate (Percentage): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Leases | 4.1 | % |  | 5.2 | % |  | 4.2 | % |  | 5.2 | % |  | 4.0 | % |  | 5.2 | % |  | 4.2 | % |  | 5.2 | %
Finance Leases | 3.3 | % |  | 5.3 | % |  | 2.9 | % |  | — | % |  | 3.3 | % |  | 5.3 | % |  | 2.9 | % |  | — | %
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
For the Year Ended December 31, 2024 |  |  |  |  |  |  |
Cash Paid for Amounts Included in the Measurement of Lease Liabilities: |  |  |  |  |  |  |
Operating Cash Flows from Operating Leases | $ | 14.5 |  |  | $ | 2.5 |  |  | $ | 4.9 |  |  | $ | 1.8 |
Operating Cash Flows from Finance Leases | 2.6 |  |  | 0.7 |  |  | 0.7 |  |  | — |
Financing Cash Flows from Finance Leases | 5.2 |  |  | 1.2 |  |  | — |  |  | — |
Supplemental Non-Cash Information on Lease Liabilities: |  |  |  |  |  |  |
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities | 15.3 |  |  | 7.8 |  |  | 5.7 |  |  | 0.3 |
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities | 0.3 |  |  | — |  |  | — |  |  | — |
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric |  | PSNH
For the Year Ended December 31, 2023 |  |  |  |  |  |  |
Cash Paid for Amounts Included in the Measurement of Lease Liabilities: |  |  |  |  |  |  |
Operating Cash Flows from Operating Leases | $ | 10.5 |  |  | $ | 0.7 |  |  | $ | 2.5 |  |  | $ | 0.4 |
Operating Cash Flows from Finance Leases | 2.0 |  |  | — |  |  | 0.6 |  |  | — |
Financing Cash Flows from Finance Leases | 3.9 |  |  | — |  |  | — |  |  | — |
Supplemental Non-Cash Information on Lease Liabilities: |  |  |  |  |  |  |
Right-of-use-Assets Obtained in Exchange for New Operating Lease Liabilities | 12.8 |  |  | 0.6 |  |  | 7.0 |  |  | 5.0 |
Right-of-use-Assets Obtained in Exchange for New Finance Lease Liabilities | 18.5 |  |  | 18.3 |  |  | — |  |  | — |
(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 |  |  | — |  |  | — |  |  | — |
Future Minimum Lease Payments under Long-Term Finance Leases | Future minimum lease payments, excluding variable costs, under long-term leases, as of December 31, 2024 are as follows:
| Operating Leases |  | Finance Leases
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric | PSNH |  | Eversource |  | CL&P | NSTAR Electric
Year Ending December 31, |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 12.5 |  |  | $ | 2.6 |  |  | $ | 4.9 |  | $ | 1.9 |  |  | $ | 8.3 |  |  | $ | 2.3 |  | $ | 0.7 |
2026 | 11.0 |  |  | 2.3 |  |  | 4.9 |  | 1.5 |  |  | 7.9 |  |  | 2.4 |  | 0.7 |
2027 | 7.0 |  |  | 1.8 |  |  | 2.9 |  | 0.1 |  |  | 7.9 |  |  | 2.5 |  | 0.7 |
2028 | 6.6 |  |  | 1.8 |  |  | 2.6 |  | — |  |  | 7.3 |  |  | 2.6 |  | 0.7 |
2029 | 4.5 |  |  | — |  |  | 2.5 |  | — |  |  | 7.3 |  |  | 2.6 |  | 0.7 |
Thereafter | 26.2 |  |  | — |  |  | 22.2 |  | — |  |  | 50.5 |  |  | 8.9 |  | 10.2 |
Future lease payments | 67.8 |  |  | 8.5 |  |  | 40.0 |  | 3.5 |  |  | 89.2 |  |  | 21.3 |  | 13.7 |
Less amount representing interest | 11.7 |  |  | 0.8 |  |  | 10.6 |  | 0.2 |  |  | 21.5 |  |  | 4.2 |  | 8.8 |
Present value of future minimum lease payments | $ | 56.1 |  |  | $ | 7.7 |  |  | $ | 29.4 |  | $ | 3.3 |  |  | $ | 67.7 |  |  | $ | 17.1 |  | $ | 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, 2024 are as follows:
| Operating Leases |  | Finance Leases
(Millions of Dollars) | Eversource |  | CL&P |  | NSTAR Electric | PSNH |  | Eversource |  | CL&P | NSTAR Electric
Year Ending December 31, |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 12.5 |  |  | $ | 2.6 |  |  | $ | 4.9 |  | $ | 1.9 |  |  | $ | 8.3 |  |  | $ | 2.3 |  | $ | 0.7 |
2026 | 11.0 |  |  | 2.3 |  |  | 4.9 |  | 1.5 |  |  | 7.9 |  |  | 2.4 |  | 0.7 |
2027 | 7.0 |  |  | 1.8 |  |  | 2.9 |  | 0.1 |  |  | 7.9 |  |  | 2.5 |  | 0.7 |
2028 | 6.6 |  |  | 1.8 |  |  | 2.6 |  | — |  |  | 7.3 |  |  | 2.6 |  | 0.7 |
2029 | 4.5 |  |  | — |  |  | 2.5 |  | — |  |  | 7.3 |  |  | 2.6 |  | 0.7 |
Thereafter | 26.2 |  |  | — |  |  | 22.2 |  | — |  |  | 50.5 |  |  | 8.9 |  | 10.2 |
Future lease payments | 67.8 |  |  | 8.5 |  |  | 40.0 |  | 3.5 |  |  | 89.2 |  |  | 21.3 |  | 13.7 |
Less amount representing interest | 11.7 |  |  | 0.8 |  |  | 10.6 |  | 0.2 |  |  | 21.5 |  |  | 4.2 |  | 8.8 |
Present value of future minimum lease payments | $ | 56.1 |  |  | $ | 7.7 |  |  | $ | 29.4 |  | $ | 3.3 |  |  | $ | 67.7 |  |  | $ | 17.1 |  | $ | 4.9 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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