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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2013

Regulatory Assets

		September 30,								December 31,
Regulatory Assets consist of the following (millions)		2013				2012				2012
Energy Supply & Other Regulatory Tracker Mechanisms		$	20.9			$	34.0			$	41.0
Deferred Restructuring Costs			11.6				20.3				20.1
Retirement Benefit Obligations			62.7				55.2				62.5
Income Taxes			9.3				10.6				10.2
Environmental Obligations			16.1				16.7				16.8
Deferred Storm Charges			26.5				25.4				27.8
Other			6.8				8.4				8.1
Total Regulatory Assets		$	153.9			$	170.6			$	186.5
Less: Current Portion of Regulatory Assets(1)			33.0				38.1				51.9
Regulatory Assets – noncurrent		$	120.9			$	132.5			$	134.6

⁽¹⁾  Reflects amounts included in Accrued Revenue, discussed below, on the Company’s unaudited Consolidated Balance Sheets.

Regulatory Liabilities

		September 30,								December 31,
Regulatory Liabilities consist of the following (millions)		2013				2012				2012
Regulatory Tracker Mechanisms		$	11.4			$	7.3			$	6.8
Total Regulatory Liabilities		$	11.4			$	7.3			$	6.8

Components of Accrued Revenue

The following table shows the components of Accrued Revenue as of September 30, 2013, September 30, 2012 and December 31, 2012.

		September 30,								December 31,
Accrued Revenue ($millions)		2013				2012				2012
Regulatory Assets – Current		$	33.0			$	38.1			$	51.9
Unbilled Revenues			7.2				6.4				11.5
Total Accrued Revenue		$	40.2			$	44.5			$	63.4

Components of Gas Inventory

The following table shows the components of Gas Inventory as of September 30, 2013, September 30, 2012 and December 31, 2012.

		September 30,								December 31,
Gas Inventory ($millions)		2013				2012				2012
Natural Gas		$	0.8			$	0.5			$	0.6
Propane			0.3				0.4				0.4
Liquefied Natural Gas & Other			0.1				0.1				0.1
Total Gas Inventory		$	1.2			$	1.0			$	1.1

Components of Exchange Gas Receivable

The following table shows the components of Exchange Gas Receivable as of September 30, 2013, September 30, 2012 and December 31, 2012.

		September 30,								December 31,
Exchange Gas Receivable ($millions)		2013				2012				2012
Northern Utilities		$	11.8			$	10.6			$	8.7
Fitchburg			1.0				0.7				0.7
Total Exchange Gas Receivable		$	12.8			$	11.3			$	9.4

Components of Energy Supply Obligations

		September 30,								December 31,
Energy Supply Obligations ($millions)		2013				2012				2012
Current:
Exchange Gas Obligation		$	11.8			$	10.6			$	8.7
Renewable Energy Portfolio Standards			2.7				4.4				4.2
Power Supply Contract Divestitures			0.9				2.8				0.9
Total Energy Supply Obligations – Current		$	15.4			$	17.8			$	13.8
Long-Term:
Power Supply Contract Divestitures		$	2.7			$	3.6			$	3.3
Total Energy Supply Obligations		$	18.1			$	21.4			$	17.1

Fair Value Amount of Derivative Assets Liabilities Offset in Regulatory Liabilities Assets

Fair Value Amount of Derivative Assets / Liabilities (millions) Offset in Regulatory Liabilities / Assets, as of:
				Fair Value
Description		Balance Sheet Location		September 30, 2013				September 30, 2012				December 31, 2012
Derivative Assets
Natural Gas Futures Contracts		Prepayments and Other		$	—			$	—			$	—
Natural Gas Futures Contracts		Other Noncurrent Assets			0.1				0.2				—
Total Derivative Assets				$	0.1			$	0.2			$	—
Derivative Liabilities
Natural Gas Futures Contracts		Other Current Liabilities		$	0.4			$	1.0			$	0.7
Natural Gas Futures Contracts		Other Noncurrent Liabilities			—				—				—
Total Derivative Liabilities				$	0.4			$	1.0			$	0.7

Regulatory Assets Liabilities and Reclassification from Regulatory Assets Liabilities into Purchased Gas

		Three Months Ended September 30,								Nine Months Ended September 30,
		2013				2012				2013				2012
Amount of (Gain) / Loss Recognized in Regulatory Assets for Derivatives:
Natural Gas Futures Contracts		$	0.1			$	(0.7	)		$	0.7			$	0.7
Amount of Loss Reclassified into unaudited Consolidated Statements of Earnings(1):
Purchased Gas		$	0.2			$	—			$	1.1			$	2.2

⁽¹⁾  These amounts are offset in the unaudited Consolidated Statements of Earnings with Accrued Revenue and therefore there is no effect on earnings.

Allowance for Doubtful Accounts Included in Accounts Receivable Net

The Allowance for Doubtful Accounts as of September 30, 2013, September 30, 2012 and December 31, 2012, which are included in Accounts Receivable, net on the accompanying unaudited Consolidated Balance Sheets, are as follows:

		September 30,								December 31,
		2013				2012				2012
Allowance for Doubtful Accounts		$	2.5			$	2.7			$	1.9

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