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Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2014
Allowance for Doubtful Accounts Included in Accounts Receivable Net | The Allowance for Doubtful Accounts as of March 31, 2014, March 31, 2013 and December 31, 2013, which are included in Accounts Receivable, net on the accompanying unaudited consolidated balance sheets, were as follows:
($ millions) |  |  |
|  | March 31, |  |  | December 31, |
|  | 2014 |  |  | 2013 |  |  | 2013 |
Allowance for Doubtful Accounts |  | $ | 2.1 |  |  | $ | 2.0 |  |  | $ | 1.6 |
Components of Accrued Revenue | The following table shows the components of Accrued Revenue as of March 31, 2014, March 31, 2013 and December 31, 2013.
|  | March 31, |  |  | December 31, |
Accrued Revenue ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Regulatory Assets – Current |  | $ | 39.7 |  |  | $ | 37.0 |  |  | $ | 43.6 |
Unbilled Revenues |  |  | 9.9 |  |  |  | 10.4 |  |  |  | 13.0 |
Total Accrued Revenue |  | $ | 49.6 |  |  | $ | 47.4 |  |  | $ | 56.6 |
Components of Exchange Gas Receivable | The following table shows the components of Exchange Gas Receivable as of March 31, 2014, March 31, 2013 and December 31, 2013.
|  | March 31, |  |  | December 31, |
Exchange Gas Receivable ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Northern Utilities |  | $ | 1.0 |  |  | $ | 1.5 |  |  | $ | 9.8 |
Fitchburg |  |  | 0.3 |  |  |  | 0.2 |  |  |  | 1.0 |
Total Exchange Gas Receivable |  | $ | 1.3 |  |  | $ | 1.7 |  |  | $ | 10.8 |
Components of Gas Inventory | The following table shows the components of Gas Inventory as of March 31, 2014, March 31, 2013 and December 31, 2013.
|  | March 31, |  |  | December 31, |
Gas Inventory ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Natural Gas |  | $ | 0.2 |  |  | $ | — |  |  | $ | 0.8 |
Propane |  |  | 0.1 |  |  |  | 0.3 |  |  |  | 0.3 |
Liquefied Natural Gas & Other |  |  | 0.3 |  |  |  | 0.2 |  |  |  | 0.1 |
Total Gas Inventory |  | $ | 0.6 |  |  | $ | 0.5 |  |  | $ | 1.2 |
Regulatory Assets |
|  | March 31, |  |  | December 31, |
Regulatory Assets consist of the following ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Energy Supply & Other Regulatory Tracker Mechanisms |  | $ | 30.3 |  |  | $ | 26.2 |  |  | $ | 32.5 |
Deferred Restructuring Costs |  |  | 6.9 |  |  |  | 17.0 |  |  |  | 9.3 |
Retirement Benefit |  |  | 42.3 |  |  |  | 62.4 |  |  |  | 42.6 |
Income Taxes |  |  | 10.7 |  |  |  | 10.0 |  |  |  | 11.9 |
Environmental |  |  | 16.0 |  |  |  | 16.7 |  |  |  | 16.1 |
Deferred Storm Charges |  |  | 24.2 |  |  |  | 27.7 |  |  |  | 25.6 |
Other |  |  | 5.8 |  |  |  | 7.0 |  |  |  | 5.7 |
Total Regulatory Assets |  | $ | 136.2 |  |  | $ | 167.0 |  |  | $ | 143.7 |
Less: Current Portion of Regulatory Assets(1) |  |  | 39.7 |  |  |  | 37.0 |  |  |  | 43.6 |
Regulatory Assets – noncurrent |  | $ | 96.5 |  |  | $ | 130.0 |  |  | $ | 100.1 |
(1) | Reflects amounts included in Accrued Revenue, discussed above, on the Company’s Consolidated Balance Sheets.
Regulatory Liabilities |
|  | March 31, |  |  | December 31, |
Regulatory Liabilities consist of the following ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Regulatory Tracker Mechanisms |  | $ | 13.1 |  |  | $ | 11.6 |  |  | $ | 9.7 |
Total Regulatory Liabilities |  | $ | 13.1 |  |  | $ | 11.6 |  |  | $ | 9.7 |
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 |  | March 31, 2014 |  |  | March 31, 2013 |  |  | December 31, 2013 |
Derivative Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Natural Gas Futures/Options Contracts |  | Prepayments and Other |  | $ | 0.2 |  |  | $ | 0.5 |  |  | $ | 0.1 |
Natural Gas Futures/Options Contracts |  | Other Assets |  |  | — |  |  |  | — |  |  |  | 0.1 |
Total Derivative Assets |  |  |  | $ | 0.2 |  |  | $ | 0.5 |  |  | $ | 0.2 |
Derivative Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Natural Gas Futures/Options Contracts |  | Other Current Liabilities |  | $ | — |  |  | $ | — |  |  | $ | — |
Natural Gas Futures/Options Contracts |  | Other Noncurrent Liabilities |  |  | — |  |  |  | — |  |  |  | — |
Total Derivative Liabilities |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Regulatory Assets Liabilities and Reclassification from Regulatory Assets Liabilities into Purchased Gas |
|  | Three Months Ended March 31, |
($ millions) |  | 2014 |  |  | 2013 |
Amount of Loss (Gain) Recognized in Regulatory Assets (Liabilities) for Derivatives: |  |  |  |  |  |  |  |
Natural Gas Futures/Options Contracts |  | $ | 0.9 |  |  | $ | (0.3 | )
Amount of Loss Reclassified into unaudited Consolidated Statements of Earnings(1): |  |  |  |  |  |  |  |
Cost of Gas Sales |  | $ | 0.9 |  |  | $ | 0.9 |
(1) | These amounts are offset in the unaudited Consolidated Statements of Earnings with Accrued Revenue and therefore there is no effect on earnings.
Components of Energy Supply Obligations |
|  | March 31, |  |  | December 31, |
Energy Supply Obligations ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Exchange Gas Obligation |  | $ | 1.0 |  |  | $ | 1.5 |  |  | $ | 9.8 |
Renewable Energy Portfolio Standards |  |  | 4.3 |  |  |  | 4.7 |  |  |  | 3.7 |
Power Supply Contract Divestitures |  |  | 0.8 |  |  |  | 0.9 |  |  |  | 0.9 |
Total Energy Supply Obligations – Current |  | $ | 6.1 |  |  | $ | 7.1 |  |  | $ | 14.4 |
Long-Term: |  |  |  |  |  |  |  |  |  |  |  |
Power Supply Contract Divestitures |  | $ | 2.3 |  |  | $ | 3.1 |  |  | $ | 2.5 |
Total Energy Supply Obligations |  | $ | 8.4 |  |  | $ | 10.2 |  |  | $ | 16.9 |

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