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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2017

Allowance for Doubtful Accounts Included in Accounts Receivable Net

The Allowance for Doubtful Accounts as of March 31, 2017, March 31, 2016 and December 31, 2016, which are included in Accounts Receivable, net on the accompanying unaudited consolidated balance sheets, was as follows:

($ millions)
		March 31,								December 31,
		2017				2016				2016
Allowance for Doubtful Accounts		$	1.0			$	1.5			$	1.1

Components of Accrued Revenue

The following table shows the components of Accrued Revenue as of March 31, 2017, March 31, 2016 and December 31, 2016.

		March 31,								December 31,
Accrued Revenue ($ millions)		2017				2016				2016
Regulatory Assets – Current		$	32.0			$	33.7			$	37.9
Unbilled Revenues			9.3				8.4				11.6
Total Accrued Revenue		$	41.3			$	42.1			$	49.5

Components of Exchange Gas Receivable

The following table shows the components of Exchange Gas Receivable as of March 31, 2017, March 31, 2016 and December 31, 2016.

		March 31,								December 31,
Exchange Gas Receivable ($ millions)		2017				2016				2016
Northern Utilities		$	1.9			$	6.3			$	7.8
Fitchburg			0.2				0.5				0.5
Total Exchange Gas Receivable		$	2.1			$	6.8			$	8.3

Components of Gas Inventory

The following table shows the components of Gas Inventory as of March 31, 2017, March 31, 2016 and December 31, 2016.

		March 31,								December 31,
Gas Inventory ($ millions)		2017				2016				2016
Natural Gas		$	—			$	0.1			$	0.3
Propane			0.2				0.2				0.2
Liquefied Natural Gas & Other			0.1				0.1				0.1
Total Gas Inventory		$	0.3			$	0.4			$	0.6

Regulatory Assets

		March 31,								December 31,
Regulatory Assets consist of the following ($ millions)		2017				2016				2016
Retirement Benefits		$	75.7			$	64.4			$	75.9
Energy Supply & Other Regulatory Tracker Mechanisms			27.7				28.2				32.7
Deferred Storm Charges			8.6				13.8				9.6
Environmental			10.7				11.9				10.8
Income Taxes			7.3				8.3				7.3
Other			5.5				5.3				5.7
Total Regulatory Assets			135.5				131.9				142.0
Less: Current Portion of Regulatory Assets(1)			32.0				33.7				37.9
Regulatory Assets – noncurrent		$	103.5			$	98.2			$	104.1

⁽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)		2017				2016				2016
Regulatory Tracker Mechanisms		$	9.2			$	12.0			$	6.2
Gas Pipeline Refund (Note 6)			4.3				10.1				6.8
Total Regulatory Liabilities			13.5				22.1				13.0
Less: Current Portion of Regulatory Liabilities			12.8				18.8				10.4
Regulatory Liabilities – noncurrent		$	0.7			$	3.3			$	2.6

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.

		March 31,								December 31,
Fair Value of Marketable Securities ($ millions)		2017				2016				2016
Equity Funds		$	1.1			$	0.4			$	1.1
Fixed Income Funds			0.9				0.3				0.8
Cash and Equivalents			1.3				—				—
Total Marketable Securities		$	3.3			$	0.7			$	1.9

Components of Energy Supply Obligations

		March 31,								December 31,
Energy Supply Obligations ($ millions)		2017				2016				2016
Current:
Exchange Gas Obligation		$	1.9			$	6.3			$	7.8
Renewable Energy Portfolio Standards			6.8				7.3				3.9
Power Supply Contract Divestitures			0.3				0.3				0.3
Total Energy Supply Obligations – Current			9.0				13.9				12.0
Long-Term:
Power Supply Contract Divestitures			1.2				1.5				1.3
Total Energy Supply Obligations		$	10.2			$	15.4			$	13.3

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