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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2016
Allowance for Doubtful Accounts Included in Accounts Receivable Net | The Allowance for Doubtful Accounts as of September 30, 2016, September 30, 2015 and December 31, 2015, which is included in Accounts Receivable, net on the accompanying unaudited consolidated balance sheets, was as follows:
($ millions) |  |  |
|  | September 30, |  |  | December 31, |
|  | 2016 |  |  | 2015 |  |  | 2015 |
Allowance for Doubtful Accounts |  | $ | 1.2 |  |  | $ | 2.0 |  |  | $ | 1.2 |
Components of Accrued Revenue | The following table shows the components of Accrued Revenue as of September 30, 2016, September 30, 2015 and December 31, 2015.
|  | September 30, |  |  | December 31, |
Accrued Revenue ($ millions) |  | 2016 |  |  | 2015 |  |  | 2015 |
Regulatory Assets – Current |  | $ | 28.0 |  |  | $ | 22.6 |  |  | $ | 26.8 |
Unbilled Revenues |  |  | 7.5 |  |  |  | 6.2 |  |  |  | 11.6 |
Total Accrued Revenue |  | $ | 35.5 |  |  | $ | 28.8 |  |  | $ | 38.4 |
Components of Exchange Gas Receivable | The following table shows the components of Exchange Gas Receivable as of September 30, 2016, September 30, 2015 and December 31, 2015.
|  | September 30, |  |  | December 31, |
Exchange Gas Receivable ($ millions) |  | 2016 |  |  | 2015 |  |  | 2015 |
Northern Utilities |  | $ | 9.3 |  |  | $ | 9.9 |  |  | $ | 10.3 |
Fitchburg |  |  | 0.5 |  |  |  | 0.7 |  |  |  | 0.8 |
Total Exchange Gas Receivable |  | $ | 9.8 |  |  | $ | 10.6 |  |  | $ | 11.1 |
Components of Gas Inventory | The following table shows the components of Gas Inventory as of September 30, 2016, September 30, 2015 and December 31, 2015.
|  | September 30, |  |  | December 31, |
Gas Inventory ($ millions) |  | 2016 |  |  | 2015 |  |  | 2015 |
Natural Gas |  | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | 0.3 |
Propane |  |  | 0.2 |  |  |  | 0.2 |  |  |  | 0.3 |
Liquefied Natural Gas & Other |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.2 |
Total Gas Inventory |  | $ | 0.6 |  |  | $ | 0.6 |  |  | $ | 0.8 |
Regulatory Assets |
|  | September 30, |  |  | December 31, |
Regulatory Assets consist of the following ($ millions) |  | 2016 |  |  | 2015 |  |  | 2015 |
Retirement Benefits |  | $ | 64.6 |  |  | $ | 65.3 |  |  | $ | 64.7 |
Energy Supply & Tracker Mechanisms |  |  | 23.2 |  |  |  | 17.4 |  |  |  | 21.3 |
Deferred Storm Charges |  |  | 11.0 |  |  |  | 16.9 |  |  |  | 15.4 |
Environmental |  |  | 12.2 |  |  |  | 11.1 |  |  |  | 11.2 |
Income Taxes |  |  | 7.7 |  |  |  | 8.9 |  |  |  | 8.5 |
Other |  |  | 5.8 |  |  |  | 5.8 |  |  |  | 5.3 |
Total Regulatory Assets |  | $ | 124.5 |  |  | $ | 125.4 |  |  | $ | 126.4 |
Less: Current Portion of Regulatory Assets(1) |  |  | 28.0 |  |  |  | 22.6 |  |  |  | 26.8 |
Regulatory Assets – noncurrent |  | $ | 96.5 |  |  | $ | 102.8 |  |  | $ | 99.6 |
(1) | Reflects amounts included in Accrued Revenue, discussed above, on the Company’s Consolidated Balance Sheets.
Regulatory Liabilities |
|  | September 30, |  |  | December 31, |
Regulatory Liabilities consist of the following ($ millions) |  | 2016 |  |  | 2015 |  |  | 2015 |
Tracker Mechanisms |  | $ | 8.5 |  |  | $ | 17.1 |  |  | $ | 8.0 |
Gas Pipeline Refund (Note 6) |  |  | 8.4 |  |  |  | 22.0 |  |  |  | 15.7 |
Total Regulatory Liabilities |  |  | 16.9 |  |  |  | 39.1 |  |  |  | 23.7 |
Less: Current Portion of Regulatory Liabilities |  |  | 13.2 |  |  |  | 28.1 |  |  |  | 15.6 |
Regulatory Liabilities – noncurrent |  | $ | 3.7 |  |  | $ | 11.0 |  |  | $ | 8.1 |
Fair Value of Marketable Securities | These investments are valued based on quoted prices from active markets and are categorized in Level 1 as they are actively traded and no valuation adjustments have been applied. Changes in the fair value of these investments are recorded in Other Expense, net.
|  | September 30, |  |  | December 31, |
Fair Value of Marketable Securities ($ millions) |  | 2016 |  |  | 2015 |  |  | 2015 |
Equity Funds |  | $ | 1.1 |  |  | $ | 0.4 |  |  | $ | 0.4 |
Fixed Income Funds |  |  | 0.8 |  |  |  | 0.3 |  |  |  | 0.3 |
Total Marketable Securities |  | $ | 1.9 |  |  | $ | 0.7 |  |  | $ | 0.7 |
Components of Current and Noncurrent Energy Supply Obligations |
|  | September 30, |  |  | December 31, |
Energy Supply Obligations ($ millions) |  | 2016 |  |  | 2015 |  |  | 2015 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Exchange Gas Obligation |  | $ | 9.3 |  |  | $ | 9.9 |  |  | $ | 10.3 |
Renewable Energy Portfolio Standards |  |  | 3.6 |  |  |  | 5.5 |  |  |  | 4.0 |
Power Supply Contract Divestitures |  |  | 0.3 |  |  |  | 0.4 |  |  |  | 0.3 |
Total Energy Supply Obligations – Current |  |  | 13.2 |  |  |  | 15.8 |  |  |  | 14.6 |
Long-Term: |  |  |  |  |  |  |  |  |  |  |  |
Power Supply Contract Divestitures |  |  | 1.4 |  |  |  | 1.7 |  |  |  | 1.6 |
Total Energy Supply Obligations |  | $ | 14.6 |  |  | $ | 17.5 |  |  | $ | 16.2 |

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