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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2014
Allowance for Doubtful Accounts Included in Accounts Receivable Net | The Allowance for Doubtful Accounts as of September 30, 2014, September 30, 2013 and December 31, 2013, which are included in Accounts Receivable, net on the accompanying unaudited Consolidated Balance Sheets, were as follows:
|  | September 30, |  |  | December 31, |
Allowance for Doubtful Accounts ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Allowance for Doubtful Accounts |  | $ | 2.1 |  |  | $ | 2.5 |  |  | $ | 1.6 |
Components of Accrued Revenue | The following table shows the components of Accrued Revenue as of September 30, 2014, September 30, 2013 and December 31, 2013.
|  | September 30, |  |  | December 31, |
Accrued Revenue ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Regulatory Assets – Current |  | $ | 24.6 |  |  | $ | 33.0 |  |  | $ | 43.6 |
Unbilled Revenues |  |  | 6.8 |  |  |  | 7.2 |  |  |  | 13.0 |
Total Accrued Revenue |  | $ | 31.4 |  |  | $ | 40.2 |  |  | $ | 56.6 |
Components of Exchange Gas Receivable | The following table shows the components of Exchange Gas Receivable as of September 30, 2014, September 30, 2013 and December 31, 2013.
|  | September 30, |  |  | December 31, |
Exchange Gas Receivable ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Northern Utilities |  | $ | 13.4 |  |  | $ | 11.8 |  |  | $ | 9.8 |
Fitchburg |  |  | 1.1 |  |  |  | 1.0 |  |  |  | 1.0 |
Total Exchange Gas Receivable |  | $ | 14.5 |  |  | $ | 12.8 |  |  | $ | 10.8 |
Components of Gas Inventory | The following table shows the components of Gas Inventory as of September 30, 2014, September 30, 2013 and December 31, 2013.
|  | September 30, |  |  | December 31, |
Gas Inventory ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Natural Gas |  | $ | 0.8 |  |  | $ | 0.8 |  |  | $ | 0.8 |
Propane |  |  | 0.1 |  |  |  | 0.3 |  |  |  | 0.3 |
Liquefied Natural Gas & Other |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.1 |
Total Gas Inventory |  | $ | 1.0 |  |  | $ | 1.2 |  |  | $ | 1.2 |
Regulatory Assets |
|  | September 30, |  |  | December 31, |
Regulatory Assets ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Energy Supply & Other Regulatory Tracker Mechanisms |  | $ | 17.6 |  |  | $ | 20.9 |  |  | $ | 32.5 |
Deferred Restructuring Costs |  |  | 2.1 |  |  |  | 11.6 |  |  |  | 9.3 |
Retirement Benefit |  |  | 42.2 |  |  |  | 62.7 |  |  |  | 42.6 |
Income Taxes |  |  | 10.1 |  |  |  | 9.3 |  |  |  | 11.9 |
Environmental |  |  | 10.6 |  |  |  | 16.1 |  |  |  | 16.1 |
Deferred Storm Charges |  |  | 20.7 |  |  |  | 26.5 |  |  |  | 25.6 |
Other |  |  | 6.6 |  |  |  | 6.8 |  |  |  | 5.7 |
Total Regulatory Assets |  | $ | 109.9 |  |  | $ | 153.9 |  |  | $ | 143.7 |
Less: Current Portion of Regulatory Assets(1) |  |  | 24.6 |  |  |  | 33.0 |  |  |  | 43.6 |
Regulatory Assets – noncurrent |  | $ | 85.3 |  |  | $ | 120.9 |  |  | $ | 100.1 |
(1) | Reflects amounts included in Accrued Revenue, discussed above, on the Company’s Consolidated Balance Sheets.
Regulatory Liabilities |
|  | September 30, |  |  | December 31, |
Regulatory Liabilities ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Regulatory Tracker Mechanisms |  | $ | 13.0 |  |  | $ | 11.4 |  |  | $ | 9.7 |
Total Regulatory Liabilities |  | $ | 13.0 |  |  | $ | 11.4 |  |  | $ | 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 |  | September 30, 2014 |  |  | September 30, 2013 |  |  | December 31, 2013 |
Derivative Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Natural Gas Futures/ Options Contracts |  | Prepayments and Other |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |
Natural Gas Futures/ Options Contracts |  | Other Assets |  |  | — |  |  |  | 0.1 |  |  |  | 0.1 |
Total Derivative Assets |  |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | 0.2 |
Derivative Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Natural Gas Futures/ Options Contracts |  | Other Current Liabilities |  | $ | 0.1 |  |  | $ | 0.4 |  |  | $ | — |
Natural Gas Futures/ Options Contracts |  | Other Noncurrent Liabilities |  |  | 0.1 |  |  |  | — |  |  |  | — |
Total Derivative Liabilities |  |  |  | $ | 0.2 |  |  | $ | 0.4 |  |  | $ | — |
Regulatory Assets Liabilities and Reclassification from Regulatory Assets Liabilities into Purchased Gas |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
($ millions) |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Amount of Loss / (Gain) Recognized in Regulatory Assets (Liabilities) for Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Natural Gas Futures / Options Contracts |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | (0.4 | ) |  | $ | 0.7 |
Amount of Loss / (Gain) Reclassified into unaudited Consolidated Statements of Earnings(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of Gas Sales |  | $ | 0.1 |  |  | $ | 0.2 |  |  | $ | (0.8 | ) |  | $ | 1.1 |
(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 |
|  | September 30, |  |  | December 31, |
Energy Supply Obligations ($ millions) |  | 2014 |  |  | 2013 |  |  | 2013 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Exchange Gas Obligation |  | $ | 13.4 |  |  | $ | 11.8 |  |  | $ | 9.8 |
Renewable Energy Portfolio Standards |  |  | 4.1 |  |  |  | 2.7 |  |  |  | 3.7 |
Power Supply Contract Divestitures |  |  | 0.6 |  |  |  | 0.9 |  |  |  | 0.9 |
Total Energy Supply Obligations – Current |  | $ | 18.1 |  |  | $ | 15.4 |  |  | $ | 14.4 |
Long-Term: |  |  |  |  |  |  |  |  |  |  |  |
Power Supply Contract Divestitures |  | $ | 2.1 |  |  | $ | 2.7 |  |  | $ | 2.5 |
Total Energy Supply Obligations |  | $ | 20.2 |  |  | $ | 18.1 |  |  | $ | 16.9 |

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