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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2015

Allowance for Doubtful Accounts Included in Accounts Receivable Net

The Allowance for Doubtful Accounts as of June 30, 2015, June 30, 2014 and December 31, 2014, which are included in Accounts Receivable, net on the accompanying unaudited consolidated balance sheets, were as follows:

($ millions)		June 30,								December 31,
		2015				2014				2014
Allowance for Doubtful Accounts		$	2.0			$	1.7			$	1.8

Components of Accrued Revenue

The following table shows the components of Accrued Revenue as of June 30, 2015, June 30, 2014 and December 31, 2014.

		June 30,								December 31,
Accrued Revenue ($ millions)		2015				2014				2014
Regulatory Assets – Current		$	22.6			$	27.3			$	37.8
Unbilled Revenues			6.0				6.1				10.7
Total Accrued Revenue		$	28.6			$	33.4			$	48.5

Components of Exchange Gas Receivable

The following table shows the components of Exchange Gas Receivable as of June 30, 2015, June 30, 2014 and December 31, 2014.

		June 30,								December 31,
Exchange Gas Receivable ($ millions)		2015				2014				2014
Northern Utilities		$	6.7			$	7.6			$	14.2
Fitchburg			0.5				0.7				0.8
Total Exchange Gas Receivable		$	7.2			$	8.3			$	15.0

Components of Gas Inventory

The following table shows the components of Gas Inventory as of June 30, 2015, June 30, 2014 and December 31, 2014.

		June 30,								December 31,
Gas Inventory ($ millions)		2015				2014				2014
Natural Gas		$	0.2			$	0.5			$	0.8
Propane			0.2				0.1				0.2
Liquefied Natural Gas & Other			0.1				0.2				0.1
Total Gas Inventory		$	0.5			$	0.8			$	1.1

Regulatory Assets

		June 30,								December 31,
Regulatory Assets consist of the following ($ millions)		2015				2014				2014
Retirement Benefits		$	65.1			$	42.2			$	65.1
Energy Supply & Other Regulatory Tracker Mechanisms			17.4				17.7				31.0
Deferred Storm Charges			18.6				22.3				21.2
Environmental			10.9				10.6				11.0
Income Taxes			9.1				10.4				9.7
Deferred Restructuring Costs			—				4.7				1.6
Other			5.8				7.5				5.8
Total Regulatory Assets		$	126.9			$	115.4			$	145.4
Less: Current Portion of Regulatory Assets(1)			22.6				27.3				37.8
Regulatory Assets – noncurrent		$	104.3			$	88.1			$	107.6

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

Regulatory Liabilities

		June 30,								December 31,
Regulatory Liabilities consist of the following ($ millions)		2015				2014				2014
Regulatory Tracker Mechanisms		$	20.2			$	13.0			$	8.8
Gas Pipeline Refund (Note 6)			22.0				—				—
Total Regulatory Liabilities			42.2				13.0			$	8.8
Less: Current Portion of Regulatory Liabilities			31.2				13.0				8.7
Regulatory Liabilities – noncurrent		$	11.0			$	—			$	0.1

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		June 30, 2015				June 30, 2014				December 31, 2014
Derivative Assets
Natural Gas Options Contracts		Prepayments and Other		$	—			$	—			$	—
Natural Gas Options Contracts		Other Assets			0.1				—				0.1
Total Derivative Assets				$	0.1			$	—			$	0.1
Derivative Liabilities
Natural Gas Options Contracts		Other Current Liabilities		$	—			$	0.1			$	—
Natural Gas Options Contracts		Other Noncurrent Liabilities			—				0.1				—
Total Derivative Liabilities				$	—			$	0.2			$	—

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

		Three Months Ended June  30,								Six Months Ended June  30,
($ millions)		2015				2014				2015				2014
Amount of Loss / (Gain) Recognized in Regulatory Assets (Liabilities) for Derivatives:
Natural Gas Futures / Options Contracts		$	—			$	0.4			$	—			$	(0.5	)
Amount of Loss / (Gain) Reclassified into unaudited Consolidated Statements of Earnings(1):
Cost of Gas Sales		$	—			$	—			$	—			$	(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

		June 30,								December 31,
Energy Supply Obligations ($ millions)		2015				2014				2014
Current:
Exchange Gas Obligation		$	6.7			$	7.6			$	14.2
Renewable Energy Portfolio Standards			6.7				4.0				7.4
Power Supply Contract Divestitures			0.4				0.7				0.5
Total Energy Supply Obligations – Current			13.8				12.3				22.1
Long-Term:
Power Supply Contract Divestitures			1.8				2.2				1.9
Total Energy Supply Obligations		$	15.6			$	14.5			$	24.0

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