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Assets Held For Sale | 3 Months Ended
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Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Assets Held For Sale | ASSETS HELD FOR SALE On January 27, 2025, Eversource entered into a definitive agreement to sell the Aquarion water distribution business. Subject to certain closing adjustments, the aggregate enterprise value of the sale is approximately $2.4 billion in cash, which includes approximately $1.6 billion for the equity and $800 million of net debt that will be extinguished at closing. The sale is subject to approval by PURA, DPU and the NHPUC, as well as other approvals pursuant to the Hart-Scott-Rodino Antitrust Improvements Act, for which the relevant waiting period has expired, as well as other customary closing conditions. The sale is expected to close in late 2025. Eversource plans to use the net proceeds from the pending sale to pay down parent company debt. The assets and liabilities of the Aquarion water distribution business met the criteria to be classified as held for sale and have been classified separately as current or long-term assets and liabilities held for sale on the Eversource balance sheets as of March 31, 2025 and December 31, 2024. As Eversource concluded this is the sale of a business, all goodwill held by the water distribution reporting unit was included in the carrying amount of the business and is also classified within assets held for sale. Long-term debt will be repaid by Eversource upon closing and is therefore excluded from liabilities held for sale. Assets and liabilities classified as held for sale are measured at the lower of carrying amount or fair value less costs to sell. The water distribution business did not and will not meet the criteria to be presented as a discontinued operation. The major classes of Aquarion’s assets and liabilities presented in current and long-term Assets Held for Sale and Liabilities Held for Sale on the Eversource balance sheets, which are included in the Water Distribution reportable segment, were as follows:
(Millions of Dollars) | As of March 31, 2025 |  | As of December 31, 2024
Restricted Cash | $ | 5.8 |  |  | $ | 5.8 |
Receivables, Net | 16.6 |  |  | 14.4 |
Unbilled Revenues | 7.6 |  |  | 11.5 |
Prepayments and Other Current Assets | 24.7 |  |  | 24.6 |
Total Current Assets Held for Sale | $ | 54.7 |  |  | $ | 56.3 |
Property, Plant and Equipment, Net | $ | 1,897.9 |  |  | $ | 1,885.2 |
Regulatory Assets | 49.9 |  |  | 51.2 |
Goodwill | 662.5 |  |  | 662.5 |
Other Long-Term Assets | 14.3 |  |  | 12.2 |
Total Long-Term Assets Held for Sale | $ | 2,624.6 |  |  | $ | 2,611.1 |
Accounts Payable | $ | 14.7 |  |  | $ | 24.2 |
Other Current Liabilities | 28.5 |  |  | 28.4 |
Total Current Liabilities Held for Sale | $ | 43.2 |  |  | $ | 52.6 |
Regulatory Liabilities | $ | 130.7 |  |  | $ | 132.2 |
Other Long-Term Liabilities | 267.0 |  |  | 266.7 |
Total Long-Term Liabilities Held for Sale | $ | 397.7 |  |  | $ | 398.9 |
For the three months ended March 31, 2025 and March 31, 2024, pre-tax income associated with the held for sale water distribution business was $2.6 million and $7.8 million, respectively.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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