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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

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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