2013 Q4 Form 10-K Financial Statement

#000007274114000011 Filed on February 25, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q4 2012 Q1
Revenue $1.778B $1.684B $1.100B
YoY Change 5.56% 57.68% -10.99%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $147.2M $149.2M $104.6M
YoY Change -1.34% 87.91% -16.72%
% of Gross Profit
Operating Expenses $1.417B $1.353B $885.2M
YoY Change 4.77% 53.15% -12.17%
Operating Profit $360.6M $331.4M $214.4M
YoY Change 8.81% 79.23% -5.72%
Interest Expense -$88.10M -$84.10M $66.45M
YoY Change 4.76% 28.01% 13.49%
% of Operating Profit -24.43% -25.38% 30.99%
Other Income/Expense, Net $8.200M $4.800M $8.773M
YoY Change 70.83% -44.19% -14.93%
Pretax Income $280.8M $252.1M $156.7M
YoY Change 11.38% 97.26% -12.51%
Income Tax $101.5M $75.50M $55.96M
% Of Pretax Income 36.15% 29.95% 35.71%
Net Earnings $179.2M $176.6M $100.8M
YoY Change 1.47% 53.83% -12.8%
Net Earnings / Revenue 10.08% 10.49% 9.17%
Basic Earnings Per Share
Diluted Earnings Per Share $560.2K $559.0K $565.0K
COMMON SHARES
Basic Shares Outstanding 315.1M shares 313.9M shares 178.1M shares
Diluted Shares Outstanding 178.4M shares

Balance Sheet

Concept 2013 Q4 2012 Q4 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.00M $46.00M $346.0M
YoY Change -6.52% -41.03% 264.21%
Cash & Equivalents $43.00M $46.00M $283.0M
Short-Term Investments $63.00M
Other Short-Term Assets $214.3M $199.9M $94.74M
YoY Change 7.17% 77.52% -80.39%
Inventory $303.0M $268.0M $219.0M
Prepaid Expenses
Receivables $765.0M $792.8M $485.8M
Other Receivables $17.00M $0.00 $0.00
Total Short-Term Assets $2.087B $2.227B $1.523B
YoY Change -6.3% 64.08% 8.28%
LONG-TERM ASSETS
Property, Plant & Equipment $17.58B $16.61B $10.61B
YoY Change 5.85% 59.62% 9.23%
Goodwill $3.519B $3.519B $287.6M
YoY Change 0.0% 1073.13%
Intangibles
YoY Change
Long-Term Investments $489.0M $400.0M $74.00M
YoY Change 22.25% 18947.62% 39.62%
Other Assets $291.5M $327.8M $171.6M
YoY Change -11.05% 89.94% -94.19%
Total Long-Term Assets $8.132B $9.471B $3.842B
YoY Change -14.13% 143.68% -70.47%
TOTAL ASSETS
Total Short-Term Assets $2.087B $2.227B $1.523B
Total Long-Term Assets $8.132B $9.471B $3.842B
Total Assets $27.80B $28.30B $15.98B
YoY Change -1.79% 80.88% 10.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $742.3M $764.4M $412.9M
YoY Change -2.89% 20.7% -3.76%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.093B $1.120B $660.0M
YoY Change -2.41% 253.31% 249.21%
Long-Term Debt Due $533.3M $763.3M $267.3M
YoY Change -30.13% 130.21% 304.98%
Total Short-Term Liabilities $3.276B $3.644B $1.968B
YoY Change -10.1% 87.08% 63.02%
LONG-TERM LIABILITIES
Long-Term Debt $7.777B $7.200B $4.977B
YoY Change 8.01% 56.02% 3.8%
Other Long-Term Liabilities $923.1M $967.6M $414.0M
YoY Change -4.6% 130.37% -84.69%
Total Long-Term Liabilities $6.976B $7.984B $4.751B
YoY Change -12.63% 64.95% -36.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.276B $3.644B $1.968B
Total Long-Term Liabilities $6.976B $7.984B $4.751B
Total Liabilities $10.25B $11.63B $6.719B
YoY Change -11.84% 71.3% -35.5%
SHAREHOLDERS EQUITY
Retained Earnings $2.126B $1.803B $1.699B
YoY Change 17.93% 9.13%
Common Stock $1.665B $1.663B $981.6M
YoY Change 0.17% 69.6%
Preferred Stock
YoY Change
Treasury Stock (at cost) -$326.5M -$338.6M -$344.8M
YoY Change -3.57% -2.32%
Treasury Stock Shares 17.80M shares 18.46M shares 18.79M shares
Shareholders Equity $9.612B $9.237B $4.068B
YoY Change
Total Liabilities & Shareholders Equity $27.80B $28.30B $15.98B
YoY Change -1.79% 80.88% 10.81%

Cashflow Statement

Concept 2013 Q4 2012 Q4 2012 Q1
OPERATING ACTIVITIES
Net Income $179.2M $176.6M $100.8M
YoY Change 1.47% 53.83% -12.8%
Depreciation, Depletion And Amortization $147.2M $149.2M $104.6M
YoY Change -1.34% 87.91% -16.72%
Cash From Operating Activities $486.5M $365.2M $8.816M
YoY Change 33.21% 345.37% -97.63%
INVESTING ACTIVITIES
Capital Expenditures -$383.0M -$390.5M $304.3M
YoY Change -1.92% 19.2% 28.56%
Acquisitions
YoY Change
Other Investing Activities $800.0K -$16.10M -$2.448M
YoY Change -104.97% -185.19% 646.34%
Cash From Investing Activities -$382.2M -$406.6M -$302.5M
YoY Change -6.0% 31.71% 27.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -118.9M 13.70M $570.5M
YoY Change -967.88% -93.68% -496.56%
NET CHANGE
Cash From Operating Activities 486.5M 365.2M $8.816M
Cash From Investing Activities -382.2M -406.6M -$302.5M
Cash From Financing Activities -118.9M 13.70M $570.5M
Net Change In Cash -14.60M -27.70M $276.8M
YoY Change -47.29% 177.0% -3544.75%
FREE CASH FLOW
Cash From Operating Activities $486.5M $365.2M $8.816M
Capital Expenditures -$383.0M -$390.5M $304.3M
Free Cash Flow $869.5M $755.7M -$295.5M
YoY Change 15.06% 84.5% -317.14%

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CY2011 us-gaap Net Cash Provided By Used In Investing Activities
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CY2011 us-gaap Repayments Of Secured Debt
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CY2011 us-gaap Repayments Of Long Term Debt
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CY2011 us-gaap Proceeds From Payments For Other Financing Activities
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CY2011 us-gaap Net Cash Provided By Used In Financing Activities
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CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2010Q4 us-gaap Cash
Cash
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CY2013 us-gaap Payments Of Dividends Common Stock
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CY2013 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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CY2013 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
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CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1680000000 USD
CY2011 us-gaap Payments Of Dividends Common Stock
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CY2011 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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CY2011 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
50000000 USD
CY2011 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2013 us-gaap Pension And Other Postretirement Benefit Contributions
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CY2011 us-gaap Pension And Other Postretirement Benefit Contributions
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CY2012 us-gaap Deferred Income Tax Expense Benefit
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CY2012 us-gaap Pension And Other Postretirement Benefit Expense
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CY2012 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
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CY2012 us-gaap Increase Decrease In Regulatory Assets And Liabilities
IncreaseDecreaseInRegulatoryAssetsAndLiabilities
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CY2012 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
42852000 USD
CY2012 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
20214000 USD
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-34321000 USD
CY2012 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
5450000 USD
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-128339000 USD
CY2012 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
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CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1161229000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1472272000 USD
CY2012 us-gaap Payments For Proceeds From Other Investing Activities
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CY2012 us-gaap Net Cash Provided By Used In Investing Activities
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CY2012 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
317294000 USD
CY2012 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
348629000 USD
CY2012 us-gaap Payments Of Dividends Common Stock
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375047000 USD
CY2012 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
7029000 USD
CY2012 us-gaap Proceeds From Repayments Of Short Term Debt
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825000000 USD
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
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850000000 USD
CY2012 us-gaap Repayments Of Long Term Debt
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839136000 USD
CY2012 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
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CY2012 us-gaap Proceeds From Payments For Other Financing Activities
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CY2012 us-gaap Net Cash Provided By Used In Financing Activities
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CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
39189000 USD
CY2011Q4 us-gaap Cash
Cash
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CY2012Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2013Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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171300000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1700000 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents
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3300000 USD
CY2013Q4 nu Cash Collateral Deposited
CashCollateralDeposited
17900000 USD
CY2012Q4 nu Cash Collateral Deposited
CashCollateralDeposited
14600000 USD
CY2012Q4 nu Rate Reduction Bond Deposits
RateReductionBondDeposits
69400000 USD
CY2013 nu Fuel Power Costs
FuelPowerCosts
466500000 USD
CY2012 nu Fuel Power Costs
FuelPowerCosts
346800000 USD
CY2011 nu Fuel Power Costs
FuelPowerCosts
307900000 USD
CY2013 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest
-4100000 USD
CY2013 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
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CY2013 nu Public Utilities Allowance For Funds Used During Construction Capitalized Total
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11200000 USD
CY2012 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
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CY2012 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
6800000 USD
CY2012 nu Public Utilities Allowance For Funds Used During Construction Capitalized Total
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedTotal
12100000 USD
CY2011 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest
-11800000 USD
CY2011 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
22500000 USD
CY2011 nu Public Utilities Allowance For Funds Used During Construction Capitalized Total
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedTotal
34300000 USD
CY2013 us-gaap Public Utilities Allowance For Funds Used During Construction Rate
PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate
0.027 pure
CY2012 us-gaap Public Utilities Allowance For Funds Used During Construction Rate
PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate
0.037 pure
CY2011 us-gaap Public Utilities Allowance For Funds Used During Construction Rate
PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate
0.073 pure
CY2013 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
144100000 USD
CY2012 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
135000000 USD
CY2011 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
137800000 USD
CY2013 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
193100000 USD
CY2012 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
160600000 USD
CY2011 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
168500000 USD
CY2013 us-gaap Interest Paid Net
InterestPaidNet
343300000 USD
CY2012 us-gaap Interest Paid Net
InterestPaidNet
356500000 USD
CY2011 us-gaap Interest Paid Net
InterestPaidNet
256300000 USD
CY2011 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2012 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-12800000 USD
CY2013 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
50000000 USD
CY2013 us-gaap Description Of Postemployment Benefits
DescriptionOfPostemploymentBenefits
During 2013, NU recorded severance benefit expenses of $9.7 million in connection with the partial outsourcing of information technology functions made as part of ongoing post-merger integration. As of December 31, 2013, the severance accrual totaled $14.7 million and was included in Other Current Liabilities on the balance sheet.
CY2013 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
9700000 USD
CY2013Q4 us-gaap Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
14700000 USD
CY2012Q2 nu Exchange Ratio
ExchangeRatio
1.312 pure
CY2012Q2 nu Number Of Nstar Shares Outstanding
NumberOfNstarSharesOutstanding
103696000 shares
CY2013 us-gaap Public Utilities Property Plant And Equipment Disclosure Of Composite Depreciation Rate For Plants In Service
PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService
0.028 pure
CY2012Q2 us-gaap Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued
BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued
136049000 shares
CY2012Q2 us-gaap Business Acquisition Share Price
BusinessAcquisitionSharePrice
36.79
CY2012Q2 us-gaap Business Combination Consideration Transferred Other1
BusinessCombinationConsiderationTransferredOther1
33000000 USD
CY2012Q2 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
5038000000 USD
CY2012Q2 us-gaap Business Acquisition Percentage Of Voting Interests Acquired
BusinessAcquisitionPercentageOfVotingInterestsAcquired
1.00 pure
CY2012Q2 nu Business Acquisition Number Of Shares Awarded Vested Immediately Prior To Merger
BusinessAcquisitionNumberOfSharesAwardedVestedImmediatelyPriorToMerger
109000 shares
CY2012Q2 us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
5005000000 USD
CY2012Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
5155000000 USD
CY2012Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssets
2103000000 USD
CY2012Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
1330000000 USD
CY2012Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
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2723000000 USD
CY2012Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Long Term Debt
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2099000000 USD
CY2012Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
739000000 USD
CY2012 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
3232000000 USD
CY2012Q4 us-gaap Business Combination Acquisition Of Less Than100 Percent Noncontrolling Interest Fair Value
BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue
39000000 USD
CY2012Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Less Noncontrolling Interest
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest
5038000000 USD
CY2012 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
7004000000 USD
CY2011 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
7361000000 USD
CY2012 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
630000000 USD
CY2011 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
689000000 USD
CY2012 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
2.00
CY2012 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.99
CY2011 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
2.19
CY2011 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
2.20
CY2012 nu Business Combination After Tax Transaction Costs
BusinessCombinationAfterTaxTransactionCosts
32000000 USD
CY2011 nu Business Combination After Tax Transaction Costs
BusinessCombinationAfterTaxTransactionCosts
19000000 USD
CY2012 nu After Tax Settlement Costs Incurred
AfterTaxSettlementCostsIncurred
60000000 USD
CY2011 nu After Tax Settlement Costs Incurred
AfterTaxSettlementCostsIncurred
0 USD
CY2012 nu After Tax Costs Transaction And Other Non Recurring Costs Excluded From Pro Forma Net Income
AfterTaxCostsTransactionAndOtherNonRecurringCostsExcludedFromProFormaNetIncome
92000000 USD
CY2011 nu After Tax Costs Transaction And Other Non Recurring Costs Excluded From Pro Forma Net Income
AfterTaxCostsTransactionAndOtherNonRecurringCostsExcludedFromProFormaNetIncome
19000000 USD
CY2012 nu Business Acquisition Description Of Settlement Agreements
BusinessAcquisitionDescriptionOfSettlementAgreements
Regulatory Approvals: On February 15, 2012, NU and NSTAR reached comprehensive merger settlement agreements with the Massachusetts Attorney General and the DOER. The Attorney General settlement agreement covered a variety of rate-making and rate design issues, including a base distribution rate freeze through 2015 for NSTAR Electric, NSTAR Gas and WMECO and $15 million, $3 million and $3 million in the form of rate credits to their respective customers. The settlement agreement reached with the DOER covered the same rate-making and rate design issues as the Attorney General's settlement agreement, as well as a variety of matters impacting the advancement of Massachusetts clean energy policy established by the Green Communities Act and Global Warming Solutions Act. On April 4, 2012, the DPU approved the settlement agreements and the merger of NU and NSTAR. On March 13, 2012, NU and NSTAR reached a comprehensive merger settlement agreement with both the Connecticut Attorney General and the Connecticut Office of Consumer Counsel. The settlement agreement covered a variety of matters, including a $25 million rate credit to CL&P customers, a CL&P base distribution rate freeze until December 1, 2014, and the establishment of a $15 million fund for energy efficiency and other initiatives to be disbursed at the direction of the DEEP. In the agreement, CL&P agreed to forego rate recovery of $40 million of the deferred storm restoration costs associated with restoration activities following Tropical Storm Irene and the October 2011 snowstorm. On April 2, 2012, the PURA approved the settlement agreement and the merger of NU and NSTAR.
CY2012 nu Customer Rate Credits For Business Combination
CustomerRateCreditsForBusinessCombination
46000000 USD
CY2012 nu Storm Cost Deferral Reduction
StormCostDeferralReduction
40000000 USD
CY2012 nu Establishment Of Energy Efficiency Fund
EstablishmentOfEnergyEfficiencyFund
15000000 USD
CY2012 nu Total Pre Tax Settlement Agreement Impacts
TotalPreTaxSettlementAgreementImpacts
101000000 USD
CY2011Q4 us-gaap Goodwill
Goodwill
300000000 USD
CY2013Q4 us-gaap Regulatory Assets
RegulatoryAssets
4294500000 USD
CY2012Q4 us-gaap Regulatory Assets
RegulatoryAssets
5837400000 USD
CY2013Q4 nu Electric And Natural Gas Utility Accumulated Depreciation
ElectricAndNaturalGasUtilityAccumulatedDepreciation
5387000000 USD
CY2013Q4 nu Other Accumulated Depreciation
OtherAccumulatedDepreciation
196200000 USD
CY2013Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
5583200000 USD
CY2013 nu Description Of Accumulated Equity Return
DescriptionOfAccumulatedEquityReturn
Equity Return on Regulatory Assets: For rate-making purposes, the Regulated companies recover the carrying cost related to their regulatory assets. For certain regulatory assets, the carrying cost recovered includes an equity return component. This equity return, which is not recorded on the balance sheets, totaled $1.9 million and $2.5 million for CL&P and $33.1 million and $21.8 million for PSNH as of December 31, 2013 and 2012, respectively. These carrying costs will be recovered from customers in future rates.
CY2013 us-gaap Description Of Regulatory Assets And Liabilities
DescriptionOfRegulatoryAssetsAndLiabilities
Regulatory Assets - The following provides further information about regulatory assets: Benefit Costs: NU's Pension, SERP and PBOP Plans are accounted for in accordance with accounting guidance on defined benefit pension and other postretirement plans. Because the Regulated companies recover the retiree benefit costs from customers through rates, regulatory assets are recorded in lieu of a charge to Accumulated Other Comprehensive Income/(Loss) to reflect the liability that is recognized for the funded status of the pension and other postretirement plans and is remeasured annually. Regulatory accounting was also applied to the portions of NU's service company costs that support the Regulated companies, as these amounts are also recoverable. CL&P, NSTAR Electric, PSNH and WMECO do not collect carrying charges on these benefit costs regulatory assets. CL&P, NSTAR Electric, PSNH and WMECO recover benefit costs related to their distribution and transmission operations from customers in rates as allowed by their applicable regulatory commissions. NSTAR Electric and WMECO each recover their qualified pension and postretirement expenses related to distribution operations through rate reconciling mechanisms that fully track the change in net pension and postretirement expenses each year. NSTAR Electric earns a carrying charge on the excess cumulative benefit plan trust fund contributions it has made over what it has cumulatively recognized as net periodic benefit expense, net of deferred income taxes. As of December 31, 2013 and 2012, these balances were $379.9 million and $366.8 million of the total benefit costs regulatory asset, respectively. Derivative Liabilities: Regulatory assets recorded as an offset to derivative liabilities relate to the fair value of contracts used to purchase energy and energy-related products that will be recovered from customers in future rates. See Note 5, "Derivative Instruments," to the financial statements for further information.  These assets are excluded from rate base and are being recovered as the actual settlements occur over the duration of the contracts. Goodwill: The goodwill regulatory asset originated from the transaction that created NSTAR in 1999. This regulatory asset is currently being amortized and recovered from customers in rates without a carrying charge over a 40-year period (as of December 31, 2013, there were 26 years of amortization remaining). Storm Restoration Costs: The storm restoration cost deferrals relate to costs incurred at CL&P, NSTAR Electric, PSNH and WMECO that each company expects to recover from customers. A storm must meet certain criteria to be declared a major storm with the criteria specific to each state jurisdiction and utility company as follows: Connecticut - qualifying storm restoration costs must exceed $5 million for a storm to be declared a major storm; Massachusetts - qualifying storm restoration costs must exceed $1 million for NSTAR Electric and $300,000 for WMECO and an emergency response plan must be initiated for a storm to be declared a major storm; and New Hampshire - For a storm to be declared a major storm: (1) at least 10 percent of customers must be without power with at least 200 concurrent locations requiring repairs (trouble spots), or (2) at least 300 concurrent trouble spots must be reported. Once a storm is declared major, all qualifying expenses prudently incurred during storm restoration efforts are deferred and recovered from customers. In addition to storm restoration costs, PSNH is allowed recovery of prudently incurred storm pre-staging costs in accordance with NHPUC regulation. In 2013, 2012 and 2011, CL&P, NSTAR Electric, PSNH and WMECO experienced significant storms, including Tropical Storm Irene, the October 2011 snowstorm, Storm Sandy, and the February 2013 blizzard. As a result of these storm events, each Company suffered extensive damage to its distribution and transmission systems resulting in customer outages, which required the incurrence of costs to repair damage and restore customer service. The storm restoration cost regulatory asset balance at CL&P, NSTAR Electric, PSNH and WMECO reflects costs incurred for major storm events. Management believes the storm restoration costs were prudent and meet the criteria for specific cost recovery in Connecticut, Massachusetts and New Hampshire and as a result, are probable of recovery. Storm Filings: Each electric utility is seeking recovery of its deferred storm restoration costs through its applicable regulatory recovery process. On February 3, 2014, the PURA issued a draft decision on CL&P’s request to recover storm restoration costs associated with five major storms, all of which occurred in 2011 and 2012. In its draft decision, the PURA approved recovery of $365 million of deferred storm restoration costs and ordered CL&P to capitalize approximately $18 million of the deferred storm restoration costs as utility plant, which will be included in depreciation expense in future rate proceedings. PURA will allow recovery of the $365 million with carrying charges in CL&P’s distribution rates over a six-year period beginning December 1, 2014. The remaining costs were either disallowed or are probable of recovery in future rates and did not have a material impact on CL&P’s financial position, results of operations or cash flows. On December 30, 2013, the DPU approved NSTAR Electric’s request to recover storm restoration costs, plus carrying costs, related to Tropical Storm Irene and the October 2011 snowstorm. The DPU approved recovery of $34.2 million of the $38 million requested costs. NSTAR Electric will recover these costs, plus carrying costs, in its distribution rates over a five-year period beginning on January 1, 2014. On June 27, 2013, the NHPUC approved an increase to PSNH’s distribution rates effective July 1, 2013, which included a $5 million increase to the current level of funding for the major storm cost reserve. The major storm cost reserve is used to offset the storm restoration cost regulatory asset. On August 30, 2013, WMECO submitted its 2013 Annual SRRCA filing to begin recovering the restoration costs associated with the October 2011 snowstorm and Storm Sandy. On December 20, 2013, the DPU approved the 2013 Annual SRRCA filing for effect on January 1, 2014, subject to further review and reconciliation. Income Taxes, Net: The tax effect of temporary book-tax differences (differences between the periods in which transactions affect income in the financial statements and the periods in which they affect the determination of taxable income, including those differences relating to uncertain tax positions) is accounted for in accordance with the rate-making treatment of the applicable regulatory commissions and accounting guidance for income taxes. Differences in income taxes between the accounting guidance and the rate-making treatment of the applicable regulatory commissions are recorded as regulatory assets. As these assets are offset by deferred income tax liabilities, no carrying charge is collected. For further information regarding income taxes, see Note 11, "Income Taxes," to the financial statements. Securitized Assets: NSTAR Electric's securitized regulatory asset balance primarily included costs related to purchase power contract divestitures and certain costs related to NSTAR Electric’s former generation business that were recovered with a return through the transition charge and amounted to $186.1 million as of December 31, 2012. These costs were fully recovered from customers in 2013. The securitized regulatory asset balance as of December 31, 2012 also included proceeds received from the issuance of RRBs at NSTAR Electric, PSNH and WMECO that were used to buy out or buy down purchase power contracts. The collateralized amounts reflected as securitized regulatory assets for NSTAR Electric, PSNH and WMECO as of December 31, 2012 were $14.1 million, $19.7 million and $7.8 million, respectively. As of December 31, 2013, NSTAR Electric's, PSNH's and WMECO's RRBs were fully redeemed and the related regulatory assets were fully recovered from customers. Contractual Obligations - Yankee Companies: CL&P, NSTAR Electric, PSNH and WMECO are responsible for their proportionate share of the remaining costs of the CYAPC, YAEC and MYAPC nuclear facilities, including decommissioning. A portion of these amounts was recorded as a regulatory asset. Amounts for CL&P are earning a return and are being recovered through the CTA. Amounts for NSTAR Electric and WMECO are being recovered without a return through the transition charge. Amounts for PSNH were fully recovered in 2006. As a result of NU's consolidation of CYAPC and YAEC, NU's regulatory asset balance also includes the regulatory assets of CYAPC and YAEC, which totalled $129.8 million and $214 million as of December 31, 2013 and 2012, respectively. At the NU consolidated level, intercompany transactions between CL&P, NSTAR Electric, PSNH and WMECO and the CYAPC and YAEC companies have been eliminated in consolidation. Buy Out Agreements for Power Contracts: NSTAR Electric's balance represents the contract termination liability related to certain purchase power contract buy out agreements that were executed in 2004. The contracts’ termination payments occur through September 2016 and are collected from customers through NSTAR Electric’s transition charge over the same period. Therefore, NSTAR Electric does not earn a return on this regulatory asset. PSNH's balance represents payments associated with the termination of various power purchase contracts that were recorded as regulatory assets and are amortized over the remaining life of the contracts. Regulatory Tracker Mechanisms: The Regulated companies’ approved rates are designed to recover their incurred costs to provide service to customers. The Regulated companies are permitted to recover certain of their costs on a fully-reconciling basis through regulatory commission-approved tracking mechanisms. The difference between the costs incurred (or the rate recovery allowed) and the actual revenues is recorded as regulatory assets (for undercollections) or regulatory liabilities (for overcollections) to be included in future customer rates each year. Carrying charges are recorded on all material regulatory tracker mechanisms. CL&P, NSTAR Electric, PSNH and WMECO each recover the costs associated with the procurement of energy, transmission related costs from FERC-approved transmission tariffs, energy efficiency programs, low income assistance programs, and restructuring and stranded costs as a result of deregulation, on a fully reconciling basis. Energy procurement costs at PSNH include the costs related to its generating stations. WMECO’s distribution revenue is decoupled from its customer sales volume. WMECO reconciles its annual base distribution rate recovery to a pre-established level of baseline distribution delivery service revenue. Any difference between the allowed level of distribution revenue and the actual amount incurred in a calendar year is adjusted through rates in the following year. Other Regulatory Assets: Other Regulatory Assets primarily include asset retirement obligations, environmental remediation costs, losses associated with the reacquisition or redemption of long-term debt and various other items, partially offset by purchase price adjustments recorded as Regulatory Assets in connection with the merger with NSTAR. The ARO costs associated with the depreciation of the Regulated companies' ARO assets and accretion of the ARO liabilities are recorded as regulatory assets. For CL&P, NSTAR Electric and WMECO, ARO assets, regulatory assets and liabilities offset and are excluded from rate base. PSNH's ARO assets, regulatory assets and liabilities are included in rate base; these costs are being recovered over the life of the underlying property, plant and equipment. Cost of Removal: NU's Regulated companies currently recover amounts in rates for future costs of removal of plant assets over the lives of the assets. The estimated cost to remove utility assets from service is recognized as a component of depreciation expense and the cumulative amounts collected from customers but not yet expended is recognized as a regulatory liability. Expended costs that exceed amounts collected from customers are recognized as regulatory assets, as they are probable of recovery in future rates. AFUDC - Transmission: AFUDC was recorded by CL&P and WMECO for their NEEWS projects through May 31, 2011, all of which was reserved as a regulatory liability to reflect rate base recovery for 100 percent of the CWIP as a result of FERC-approved transmission incentives. Effective June 1, 2011, FERC approved changes to the ISO-NE Tariff in order to include 100 percent of the NEEWS CWIP in regional rate base. As a result, CL&P and WMECO no longer record AFUDC on NEEWS CWIP. NSTAR Electric recorded AFUDC on reliability-related projects over $5 million through December 31, 2013, 50 percent of which was recorded as a regulatory liability to reflect rate base recovery for 50 percent of the CWIP as a result of FERC-approved transmission incentives. Other Regulatory Liabilities: Other Regulatory Liabilities primarily includes amounts that are subject to various rate reconciling mechanisms that, as of each period end date, would result in refunds to customers.
CY2013 us-gaap Description Of Regulatory Costs Not Yet Approved
DescriptionOfRegulatoryCostsNotYetApproved
Regulatory Costs in Other Long-Term Assets: The Regulated companies had $65.1 million ($7.3 million for CL&P, $33.4 million for NSTAR Electric, and $10.1 million for WMECO) and $69.9 million ($3.9 million for CL&P, $25.4 million for NSTAR Electric, $35.7 million for PSNH, and $1.4 million for WMECO) of additional regulatory costs as of December 31, 2013 and 2012, respectively, that were included in Other Long-Term Assets on the balance sheets. These amounts represent incurred costs for which recovery has not yet been specifically approved by the applicable regulatory agency. However, based on regulatory policies or past precedent on similar costs, management believes it is probable that these costs will ultimately be approved and recovered from customers in rates. The PSNH balance as of December 31, 2012 primarily related to storm restoration costs incurred for Tropical Storm Irene, the October 2011 snowstorm and Storm Sandy that met the NHPUC criteria for cost deferral and recovery. Refer to the "Storm Restoration Costs" section in this Note for further discussion. The NSTAR Electric balance as of December 31, 2013 and 2012 primarily related to costs deferred in connection with the basic service bad debt adder. See Note 12G, "Commitments and Contingencies – Basic Service Bad Debt Adder," for further information.
CY2013Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
707300000 USD
CY2012Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
674300000 USD
CY2013 us-gaap Property Plant And Equipment Depreciation Methods
PropertyPlantAndEquipmentDepreciationMethods
Utility property, plant and equipment is recorded at original cost. Original cost includes materials, labor, construction overhead and AFUDC for regulated property. The cost of repairs and maintenance, including planned major maintenance activities, is charged to Operating Expenses as incurred. Depreciation of utility assets is calculated on a straight-line basis using composite rates based on the estimated remaining useful lives of the various classes of property (estimated useful life for PSNH distribution). The composite rates are subject to approval by the appropriate state regulatory agency. The composite rates include a cost of removal component, which is collected from customers over the lives of the plant assets and is recognized as a regulatory liability. Depreciation rates are applied to property from the time it is placed in service. Upon retirement from service, the cost of the utility asset is charged to the accumulated provision for depreciation. The actual incurred removal costs are applied against the related regulatory liability.
CY2013Q4 us-gaap Public Utilities Property Plant And Equipment Distribution
PublicUtilitiesPropertyPlantAndEquipmentDistribution
11950200000 USD
CY2013Q4 nu Public Utilities Property Plant And Equipment Distribution Natural Gas
PublicUtilitiesPropertyPlantAndEquipmentDistributionNaturalGas
2425900000 USD
CY2013Q4 us-gaap Public Utilities Property Plant And Equipment Transmission
PublicUtilitiesPropertyPlantAndEquipmentTransmission
6412500000 USD
CY2013Q4 us-gaap Public Utilities Property Plant And Equipment Generation Or Processing
PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing
1152300000 USD
CY2013Q4 nu Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total
PublicUtilitiesPropertyPlantAndEquipmentElectricAndNaturalGasUtilityTotal
21940900000 USD
CY2013Q4 us-gaap Public Utilities Property Plant And Equipment Other Property Plant And Equipment
PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment
508700000 USD
CY2013Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
22449600000 USD
CY2013Q4 nu Property Plant And Equipment Net Excluding Construction Work In Progress
PropertyPlantAndEquipmentNetExcludingConstructionWorkInProgress
16866400000 USD
CY2013Q4 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
709800000 USD
CY2012Q4 us-gaap Public Utilities Property Plant And Equipment Distribution
PublicUtilitiesPropertyPlantAndEquipmentDistribution
11438200000 USD
CY2012Q4 nu Public Utilities Property Plant And Equipment Distribution Natural Gas
PublicUtilitiesPropertyPlantAndEquipmentDistributionNaturalGas
2274200000 USD
CY2012Q4 us-gaap Public Utilities Property Plant And Equipment Transmission
PublicUtilitiesPropertyPlantAndEquipmentTransmission
5541100000 USD
CY2012Q4 us-gaap Public Utilities Property Plant And Equipment Generation Or Processing
PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing
1146600000 USD
CY2012Q4 nu Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total
PublicUtilitiesPropertyPlantAndEquipmentElectricAndNaturalGasUtilityTotal
20400100000 USD
CY2012Q4 us-gaap Public Utilities Property Plant And Equipment Other Property Plant And Equipment
PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment
429300000 USD
CY2012Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
20829400000 USD
CY2012Q4 nu Electric And Natural Gas Utility Accumulated Depreciation
ElectricAndNaturalGasUtilityAccumulatedDepreciation
5065100000 USD
CY2012Q4 nu Other Accumulated Depreciation
OtherAccumulatedDepreciation
171500000 USD
CY2012Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
5236600000 USD
CY2012Q4 nu Property Plant And Equipment Net Excluding Construction Work In Progress
PropertyPlantAndEquipmentNetExcludingConstructionWorkInProgress
15592800000 USD
CY2012Q4 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
1012200000 USD
CY2012 us-gaap Public Utilities Property Plant And Equipment Disclosure Of Composite Depreciation Rate For Plants In Service
PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService
0.025 pure
CY2011 us-gaap Public Utilities Property Plant And Equipment Disclosure Of Composite Depreciation Rate For Plants In Service
PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService
0.026 pure
CY2013Q4 nu Distribution Assets Average Useful Life
DistributionAssetsAverageUsefulLife
36.1 pure
CY2013Q4 nu Transmission Assets Average Useful Life
TransmissionAssetsAverageUsefulLife
43.0 pure
CY2013Q4 nu Generation Assets Average Useful Life
GenerationAssetsAverageUsefulLife
32.2 pure
CY2013Q4 nu Other Assets Average Useful Life
OtherAssetsAverageUsefulLife
14.6 pure
CY2013Q4 nu Current Derivative Assets Consolidated
CurrentDerivativeAssetsConsolidated
10200000 USD
CY2013Q4 nu Consolidated Current Derivative Liabilities
ConsolidatedCurrentDerivativeLiabilities
93700000 USD
CY2012Q4 nu Current Derivative Assets Consolidated
CurrentDerivativeAssetsConsolidated
11400000 USD
CY2012Q4 nu Consolidated Current Derivative Liabilities
ConsolidatedCurrentDerivativeLiabilities
117200000 USD
CY2013Q4 nu Derivative Assets Subject To Credit Risk With Investment Grade Counterparty
DerivativeAssetsSubjectToCreditRiskWithInvestmentGradeCounterparty
80000000 USD
CY2013 us-gaap Description Of Derivative Activity Volume
DescriptionOfDerivativeActivityVolume
As of December 31, 2013 and 2012, NU had NYMEX future contracts in order to reduce variability associated with the purchase price of approximately 9.1 million and 11.5 million MMBtu of natural gas, respectively. As of December 31, 2012, NU had approximately 24 thousand MWh of supply volumes remaining in its unregulated wholesale portfolio when expected sales were compared with supply contracts. These contracts expired on December 31, 2013.
CY2012Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
4100000 USD
CY2013Q4 us-gaap Additional Collateral Aggregate Fair Value
AdditionalCollateralAggregateFairValue
0 USD
CY2013Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
0 USD
CY2012Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
15300000 USD
CY2012Q4 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
0 USD
CY2012Q4 us-gaap Additional Collateral Aggregate Fair Value
AdditionalCollateralAggregateFairValue
17400000 USD
CY2013 nu Fairvalueinputsexitpricepremium
Fairvalueinputsexitpricepremium
Exit price premiums of 10 percent through 32 percent are also applied on these contracts and reflect the most recent market activity available for similar type contracts.
CY2011Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
962200000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
75100000 USD
CY2012Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
878600000 USD
CY2013Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
635200000 USD
CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
10900000 USD
CY2013 nu Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedInRegAssetLiability
158300000 USD
CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
74200000 USD
CY2012 nu Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedInRegAssetLiability
-29200000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
10900000 USD
CY2012 nu Derivativeliabilityrecordedatmergerdatelevel3
Derivativeliabilityrecordedatmergerdatelevel3
-5400000 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
32200000 USD
CY2012Q4 nu Fair Value Of Securities Under Fair Value Option
FairValueOfSecuritiesUnderFairValueOption
47000000 USD
CY2012 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
5900000 USD
CY2013Q4 nu Fair Value Of Securities Under Fair Value Option
FairValueOfSecuritiesUnderFairValueOption
57200000 USD
CY2013 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
10200000 USD
CY2013Q4 us-gaap Marketable Securities Restricted Noncurrent
MarketableSecuritiesRestrictedNoncurrent
424000000 USD
CY2012Q4 us-gaap Marketable Securities Restricted Noncurrent
MarketableSecuritiesRestrictedNoncurrent
340400000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
72400000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
62100000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
59400000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
105300000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAmortizedCost
299200000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
72300000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
62700000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
59300000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
105300000 USD
CY2013Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
299600000 USD
CY2013Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
580900000 USD
CY2012Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
492300000 USD
CY2013 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
-13800000 USD
CY2013 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
23800000 USD
CY2013 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
2600000 USD
CY2013Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
424900000 USD
CY2011Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
56200000 USD
CY2012 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
1500000 USD
CY2012 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
20200000 USD
CY2012 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
21400000 USD
CY2012Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
412200000 USD
CY2012 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
-7200000 USD
CY2012Q4 nu Liability Assumed Upon Consolidation Of Cyapc And Yaec
LiabilityAssumedUponConsolidationOfCyapcAndYaec
284200000 USD
CY2012Q4 nu Liability Assumed Upon Merger With Nstar
LiabilityAssumedUponMergerWithNstar
35900000 USD
CY2013 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
100000 USD
CY2013 nu Short Term Debt Regulatory Limits
ShortTermDebtRegulatoryLimits
The amount of short-term borrowings that may be incurred by CL&P, NSTAR Electric and WMECO is subject to periodic approval by the FERC. On July 31, 2013, the FERC granted authorization to allow CL&P and WMECO to incur total short-term borrowings up to a maximum of $600 million and $300 million, respectively, effective January 1, 2014 through December 31, 2015. On May 16, 2012, the FERC granted authorization to allow NSTAR Electric to issue total short-term debt securities in an aggregate principal amount not to exceed $655 million outstanding at any one time, effective October 23, 2012 through October 23, 2014. As a result of the NHPUC having jurisdiction over PSNH's short-term debt, PSNH is not currently required to obtain FERC approval for its short-term borrowings. CL&P's certificate of incorporation contains preferred stock provisions restricting the amount of unsecured debt that CL&P may incur, including limiting unsecured indebtedness with a maturity of less than 10 years to 10 percent of total capitalization. In November 2003, CL&P obtained from its preferred stockholders a waiver of such 10 percent limit for a ten-year period expiring in March 2014, provided that all unsecured indebtedness does not exceed 20 percent of total capitalization. As of December 31, 2013, CL&P had $776.9 million of unsecured debt capacity available under this authorization.
CY2013 nu Description Of Commercial Paper Program
DescriptionOfCommercialPaperProgram
NU parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas are parties to a five-year revolving credit facility. The revolving credit facility is to be used primarily to backstop the commercial paper program at NU, which commenced July 25, 2012. The commercial paper program allows NU parent to issue commercial paper as a form of short-term debt. On September 6, 2013, the $1.15 billion revolving credit facility dated July 25, 2012 was amended to increase the aggregate principal amount available thereunder by $300 million to $1.45 billion, to extend the expiration date from July 25, 2017 to September 6, 2018, and to increase CL&P's borrowing sublimit from $300 million to $600 million. PSNH and WMECO each have borrowing sublimits of $300 million. On September 6, 2013, NU parent’s $1.15 billion commercial paper program was increased by $300 million to $1.45 billion. NSTAR Electric has a five-year $450 million revolving credit facility. This facility serves to backstop NSTAR Electric’s existing $450 million commercial paper program. On September 6, 2013, NSTAR Electric amended its revolving credit facility dated July 25, 2012 to extend the expiration date from July 25, 2017 to September 6, 2018.
CY2013 nu Description Of St Debt Reclassified To Lt
DescriptionOfStDebtReclassifiedToLt
On January 2, 2014, Yankee Gas issued $100 million of Series L First Mortgage Bonds. A portion of the proceeds was used to pay short-term borrowings outstanding under the NU commercial paper program. As a result and in accordance with applicable accounting guidance, $25 million of the NU commercial paper program borrowings have been classified as Long-Term Debt as of December 31, 2013.
CY2012 nu Description Of St Debt Reclassified To Lt
DescriptionOfStDebtReclassifiedToLt
As of December 31, 2012, CL&P had $89 million in borrowings outstanding under this credit agreement with a weighted average interest rate of 3.325 percent.
CY2013 nu Description Of Working Capital
DescriptionOfWorkingCapital
Each of NU, CL&P, NSTAR Electric, PSNH and WMECO use its available capital resources to fund its respective construction expenditures, meet debt requirements, pay operating costs, including storm-related costs, pay dividends and fund other corporate obligations, such as pension contributions. The current growth in NU’s transmission construction expenditures utilizes a significant amount of cash for projects that have a long-term return on investment and recovery period. In addition, NU’s Regulated companies recover its electric and natural gas distribution construction expenditures as the related project costs are depreciated over the life of the assets. This impacts the timing of the revenue stream designed to fully recover the total investment plus a return on the equity portion of the cost and related financing costs. These factors have resulted in current liabilities exceeding current assets by approximately $1.2 billion, $398 million and $339 million at NU, CL&P and NSTAR Electric, respectively, as of December 31, 2013.As of December 31, 2013, $501.7 million of NU's obligations classified as current liabilities relates to long-term debt that will be paid in the next 12 months, consisting of $150 million for CL&P, $301.7 million for NSTAR Electric and $50 million for PSNH. In addition, $31.7 million relates to the amortization of the purchase accounting fair value adjustment that will be amortized in the next twelve months. NU, with its strong credit ratings, has several options available in the financial markets to repay or refinance these maturities with the issuance of new long-term debt. NU, CL&P, NSTAR Electric, PSNH and WMECO will reduce their short-term borrowings with cash received from operating cash flows or with the issuance of new long-term debt, determined considering capital requirements and maintenance of NU's credit rating and profile. Management expects the future operating cash flows of NU, CL&P, NSTAR Electric, PSNH and WMECO, along with the access to financial markets, will be sufficient to meet any future operating requirements and capital investment forecasted opportunities.
CY2013 us-gaap Long Term Debt Description
LongTermDebtDescription
On January 15, 2013, CL&P issued $400 million of 2.50 percent Series A First and Refunding Mortgage Bonds with a maturity date of January 15, 2023. The proceeds, net of issuance costs, were used to pay short-term borrowings outstanding under the CL&P credit agreement of $89 million and the NU commercial paper program of $305.8 million. As a result and in accordance with applicable accounting guidance, these amounts were classified as Long-Term Debt on the balance sheet as of December 31, 2012. In April 2012, CL&P remarketed $62 million of tax-exempt PCRBs for a three-year period. The PCRBs, which mature on May 1, 2031, carry a coupon rate of 1.55 percent during the current three-year fixed rate period and are subject to mandatory tender for purchase on April 1, 2015. On September 3, 2013, CL&P redeemed at par $125 million of 1.25 percent Series B 2011 PCRBs, which were subject to mandatory tender for purchase, using short-term debt. On May 17, 2013, NSTAR Electric issued $200 million of three-year floating rate debentures due in May 2016. The proceeds, net of issuance costs, were used to repay commercial paper borrowings and for general corporate purposes. The debentures have a coupon rate reset quarterly based on 3-month LIBOR plus a credit spread of 0.24 percent. The interest rate as of December 31, 2013 was 0.478 percent. On May 1, 2013, PSNH redeemed at par approximately $109 million of the 2001 Series C PCRBs that were due to mature in 2021 using short-term debt. On November 14, 2013, PSNH issued $250 million of 3.50 percent Series S First Mortgage Bonds due in 2023. On December 23, 2013, PSNH redeemed approximately $89 million of the Series B PCRBs that were due to mature in 2021. The proceeds of the Series S issuance were used to repay the short term debt used to redeem the $109 million 2001 Series C PCRBs and to redeem the $89 million Series B PCRBs and pay the associated call premium. The remaining proceeds of the offering were used to refinance short-term debt. On September 1, 2013, WMECO repaid at maturity the $55 million Series A Senior Notes using short-term debt. On November 15, 2013, WMECO issued $80 million of 3.88 percent Series G Senior Notes due in 2023. The proceeds, net of issuance costs, were used to pay short-term borrowings and for other working capital purposes. On January 2, 2014, Yankee Gas issued $100 million of 4.82 percent Series L First Mortgage Bonds due to mature in 2044. The proceeds, net of issuance costs, were used to repay the Series G $75 million First Mortgage Bonds that matured on January 1, 2014 and to pay $25 million in short-term borrowings. As a result and in accordance with applicable accounting guidance, these amounts were classified as Long-Term Debt on NU’s balance sheet as of December 31, 2013. On May 13, 2013, NU parent issued $750 million of Senior Notes, consisting of $300 million of 1.45 percent Series E Senior Notes due to mature in 2018 and $450 million of 2.80 percent Series F Senior Notes due to mature in 2023. The proceeds, net of issuance costs, were used to repay the NU parent $250 million Series C Senior Notes at a coupon rate of 5.65 percent that matured on June 1, 2013 and the NU parent $300 million floating rate Series D Senior Notes that matured on September 20, 2013. The remaining net proceeds were used to repay commercial paper program borrowings and for working capital purposes. The DOE is responsible for the selection and development of repositories for, and the disposal of, spent nuclear fuel and high-level radioactive waste. For nuclear fuel used to generate electricity prior to April 7, 1983 (Prior Period Spent Nuclear Fuel) for CL&P and WMECO, an accrual has been recorded for the full liability, and payment must be made by CL&P and WMECO to the DOE prior to the first delivery of spent fuel to the DOE. After the sale of Millstone, CL&P and WMECO remained responsible for their share of the disposal costs associated with the Prior Period Spent Nuclear Fuel. Until such payment to the DOE is made, the outstanding liability will continue to accrue interest at the 3-month Treasury bill yield rate. In addition, as a result of consolidating CYAPC, NU has consolidated $179.4 million in additional spent nuclear fuel obligations, including interest, as of December 31, 2013. Fees due to the DOE for the disposal of CL&P's and WMECO's Prior Period Spent Nuclear Fuel and CYAPC's spent nuclear fuel obligation include accumulated interest costs of $350.3 million and $350 million ($177.9 million and $177.8 million for CL&P and $41.7 million and $41.7 million for WMECO) as of December 31, 2013 and 2012, respectively.
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
576700000 USD
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
216700000 USD
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
200000000 USD
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
745000000 USD
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
810000000 USD
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
5031600000 USD
CY2013Q4 nu Longtermdebtmaturitiesrepaymentsofprincipaltotal
Longtermdebtmaturitiesrepaymentsofprincipaltotal
7580000000 USD
CY2012 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
25700000 USD
CY2013 nu Description Of Allocation Of Assets To Subsidiaries
DescriptionOfAllocationOfAssetsToSubsidiaries
Effective January 1, 2013, the NSTAR Pension Plan assets were transferred into the NUSCO Pension Plan master trust. The, NUSCO Pension Plan is entitled to approximately 66 percent of each asset category in the master trust, the NSTAR Pension Plan is entitled to approximately 30 percent of each asset category in the master trust and the 401(h) plans are entitled to approximately four percent of each asset category in the master trust. CL&P, PSNH and WMECO participate in the NUSCO Pension and PBOP Plans. Each company participating in the plans is allocated a portion of the total plan assets. As of December 31, 2013 and 2012, the NUSCO Pension Plan had total assets of $2,750.4 million and $2,342.6 million, respectively. CL&P’s, PSNH’s and WMECO’s portion of these total Pension Plan assets was 37 percent, 19 percent and 9 percent, respectively, as of December 31, 2013, and 40 percent, 17 percent and 9 percent, respectively, as of December 31, 2012. The NUSCO PBOP Plans had total assets of $391 million and $334.9 million as of December 31, 2013 and 2012, respectively. CL&P’s, PSNH’s and WMECO’s portion of these total PBOP Plan assets was 39 percent, 21 percent and 9 percent, respectively, as of December 31, 2013 and 2012.
CY2013 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
37000000 USD
CY2011 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
17400000 USD
CY2013 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
9100000 USD
CY2012 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
8900000 USD
CY2011 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
8800000 USD
CY2010Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.80
CY2012Q2 nu Share Based Compensation Arrangement By Share Based Payment Award Options Converted Nstar Options Upon Merger
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsConvertedNstarOptionsUponMerger
2664894 shares
CY2012Q2 nu Share Based Compensation Arrangement By Share Based Payment Award Options Converted Nstar Options Upon Merger Total Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsConvertedNstarOptionsUponMergerTotalValue
30.5 USD
CY2012Q2 nu Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nstar Deferred And Performance Awards Converted Upon Merger
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNstarDeferredAndPerformanceAwardsConvertedUponMerger
421775 shares
CY2012Q2 nu Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nstar Deferred And Performance Awards Converted Upon Merger Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNstarDeferredAndPerformanceAwardsConvertedUponMergerValue
15.5 USD
CY2012Q2 nu Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nstar Rsu Retention Awards Converted To Nu Rsus Upon Merger
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNstarRsuRetentionAwardsConvertedToNuRsusUponMerger
195619 shares
CY2012Q2 nu Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nstar Rsu Retention Awards Converted To Nu Rsus Upon Merger Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNstarRsuRetentionAwardsConvertedToNuRsusUponMergerValue
7.2 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
4500000 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2462668 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2502512 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1162216 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1417688 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
36.58
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
34.70
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
583101 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
34.34
CY2013 nu Share Based Compensation Arrangement By Share Based Payment Award Vested Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardVestedOutstandingNumber
474224 shares
CY2013 nu Share Based Compensation Arrangement By Share Based Payment Award Expected To Vest
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpectedToVest
1104106 shares
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27000000 USD
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25800000 USD
CY2011 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12300000 USD
CY2013 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
10700000 USD
CY2012 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
10200000 USD
CY2011 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4900000 USD
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
8500000 USD
CY2011 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1300000 USD
CY2013 nu Description Of Compensation Cost Not Yet Recognized Period For Recognition
DescriptionOfCompensationCostNotYetRecognizedPeriodForRecognition
This cost is expected to be recognized ratably over a weighted-average period of 1.64 years for NU, 1.85 years for CL&P, 1.47 years for NSTAR Electric, 1.79 years for PSNH and 1.80 years for WMECO.
CY2013 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
5500000 USD
CY2010Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
112599 shares
CY2011 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-65225 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
47374 shares
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-324382 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1221375 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.78
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
25.97
CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
18.81
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
20.97
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6700000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
20100000 USD
CY2013Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
19500000 USD
CY2012Q2 nu Share Based Compensation Arrangement By Share Based Payment Award Options Converted Nstar Options Upon Merger Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsConvertedNstarOptionsUponMergerWeightedAverageExercisePrice
23.99
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-1166511 shares
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
22.53
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
18700000 USD
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1545757 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
24.92
CY2013 us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
6800000 USD
CY2013 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
2700000 USD
CY2013 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
39526 shares
CY2012 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
39422 shares
CY2013 nu Espp Discounted Purchase Price First Six Months
EsppDiscountedPurchasePriceFirstSixMonths
38.69 USD
CY2013 nu Espp Discounted Purchase Price Second Six Months
EsppDiscountedPurchasePriceSecondSixMonths
42.19 USD
CY2012 nu Espp Discounted Purchase Price First Six Months
EsppDiscountedPurchasePriceFirstSixMonths
33.01 USD
CY2012 nu Espp Discounted Purchase Price Second Six Months
EsppDiscountedPurchasePriceSecondSixMonths
37.89 USD
CY2013Q4 nu Employee Stock Purchase Plan Shares Remaining For Future Issuance
EmployeeStockPurchasePlanSharesRemainingForFutureIssuance
817754 shares
CY2012Q4 nu Employee Stock Purchase Plan Shares Remaining For Future Issuance
EmployeeStockPurchasePlanSharesRemainingForFutureIssuance
857280 shares
CY2013Q4 us-gaap Deferred Compensation Cashbased Arrangements Liability Classified Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityClassifiedNoncurrent
51300000 USD
CY2012Q4 us-gaap Deferred Compensation Cashbased Arrangements Liability Classified Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityClassifiedNoncurrent
54600000 USD
CY2011Q4 us-gaap Deferred Compensation Cashbased Arrangements Liability Classified Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityClassifiedNoncurrent
52800000 USD
CY2013Q4 nu Deferred Compensation Cash Based Arrangements Expense Pertaining To Deferred Benefits
DeferredCompensationCashBasedArrangementsExpensePertainingToDeferredBenefits
4400000 USD
CY2012Q4 nu Deferred Compensation Cash Based Arrangements Expense Pertaining To Deferred Benefits
DeferredCompensationCashBasedArrangementsExpensePertainingToDeferredBenefits
4700000 USD
CY2011Q4 nu Deferred Compensation Cash Based Arrangements Expense Pertaining To Deferred Benefits
DeferredCompensationCashBasedArrangementsExpensePertainingToDeferredBenefits
4700000 USD
CY2013 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
8800000 USD
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-30900000 USD
CY2011 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
3000000 USD
CY2011 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-26000000 USD
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
17600000 USD
CY2013 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-9400000 USD
CY2013 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-600000 USD
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-13300000 USD
CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-23000000 USD
CY2011 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
187700000 USD
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
291300000 USD
CY2013 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
386200000 USD
CY2013 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
45400000 USD
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
800000 USD
CY2011 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
9100000 USD
CY2011 us-gaap Income Tax Reconciliation Tax Credits Investment
IncomeTaxReconciliationTaxCreditsInvestment
-2800000 USD
CY2012 us-gaap Income Tax Reconciliation Tax Credits Investment
IncomeTaxReconciliationTaxCreditsInvestment
-3900000 USD
CY2013 us-gaap Income Tax Reconciliation Tax Credits Investment
IncomeTaxReconciliationTaxCreditsInvestment
-4100000 USD
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
427200000 USD
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation
IncomeTaxReconciliationNondeductibleExpenseDepreciation
-7400000 USD
CY2013 us-gaap Income Tax Reconciliation Tax Credits Other
IncomeTaxReconciliationTaxCreditsOther
-3700000 USD
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
27600000 USD
CY2013 nu Income Tax Reconciliation Medicare Subsidy
IncomeTaxReconciliationMedicareSubsidy
-8000000 USD
CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-4300000 USD
CY2013 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-400000 USD
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
282800000 USD
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation
IncomeTaxReconciliationNondeductibleExpenseDepreciation
-10800000 USD
CY2012 us-gaap Income Tax Reconciliation Tax Credits Other
IncomeTaxReconciliationTaxCreditsOther
-3800000 USD
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
4400000 USD
CY2012 nu Income Tax Reconciliation Medicare Subsidy
IncomeTaxReconciliationMedicareSubsidy
-6400000 USD
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
7600000 USD
CY2012 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
5000000 USD
CY2011 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
200000000 USD
CY2011 us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation
IncomeTaxReconciliationNondeductibleExpenseDepreciation
-14200000 USD
CY2011 us-gaap Income Tax Reconciliation Tax Credits Other
IncomeTaxReconciliationTaxCreditsOther
-3500000 USD
CY2011 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
22100000 USD
CY2011 nu Income Tax Reconciliation Medicare Subsidy
IncomeTaxReconciliationMedicareSubsidy
-2200000 USD
CY2011 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-33100000 USD
CY2011 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
4700000 USD
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.350 pure
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.340 pure
CY2011 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.299 pure
CY2013Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
272900000 USD
CY2012Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
380600000 USD
CY2013Q4 us-gaap Deferred Tax Assets Regulatory Assets And Liabilities
DeferredTaxAssetsRegulatoryAssetsAndLiabilities
272700000 USD
CY2012Q4 us-gaap Deferred Tax Assets Regulatory Assets And Liabilities
DeferredTaxAssetsRegulatoryAssetsAndLiabilities
257900000 USD
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
435200000 USD
CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
811400000 USD
CY2012Q4 nu Deferred Tax Assets Tax Effect Tax Regulatory Assets
DeferredTaxAssetsTaxEffectTaxRegulatoryAssets
17200000 USD
CY2013Q4 nu Deferred Tax Assets Tax Effect Tax Regulatory Assets
DeferredTaxAssetsTaxEffectTaxRegulatoryAssets
16200000 USD
CY2013Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
230600000 USD
CY2012Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
242400000 USD
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
24300000 USD
CY2012Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4200000 USD
CY2012Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2130500000 USD
CY2013Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1559100000 USD
CY2013Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
3806500000 USD
CY2012Q4 nu Deferred Tax Liabilities Regulatory Assets Securitized Contract Termination Costs
DeferredTaxLiabilitiesRegulatoryAssetsSecuritizedContractTerminationCosts
16600000 USD
CY2013Q4 nu Deferred Tax Liabilities Regulatory Assets Securitized Contract Termination Costs
DeferredTaxLiabilitiesRegulatoryAssetsSecuritizedContractTerminationCosts
300000 USD
CY2013Q4 nu Deferred Tax Liabilities Regulatory Assets Other Regulatory Deferrals
DeferredTaxLiabilitiesRegulatoryAssetsOtherRegulatoryDeferrals
1146700000 USD
CY2012Q4 nu Deferred Tax Liabilities Regulatory Assets Other Regulatory Deferrals
DeferredTaxLiabilitiesRegulatoryAssetsOtherRegulatoryDeferrals
1561100000 USD
CY2012Q4 nu Deferred Tax Liabilities Regulatory Assets Tax Effect Tax Regulatory Assets
DeferredTaxLiabilitiesRegulatoryAssetsTaxEffectTaxRegulatoryAssets
217200000 USD
CY2013Q4 nu Deferred Tax Liabilities Regulatory Assets Tax Effect Tax Regulatory Assets
DeferredTaxLiabilitiesRegulatoryAssetsTaxEffectTaxRegulatoryAssets
248200000 USD
CY2013Q4 nu Deferred Tax Liabilities Regulatory Assets Derivative Assets
DeferredTaxLiabilitiesRegulatoryAssetsDerivativeAssets
30100000 USD
CY2012Q4 nu Deferred Tax Liabilities Regulatory Assets Derivative Assets
DeferredTaxLiabilitiesRegulatoryAssetsDerivativeAssets
36200000 USD
CY2012Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
136100000 USD
CY2013Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
156800000 USD
CY2013Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
5695200000 USD
CY2012Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
5736500000 USD
CY2013Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1583400000 USD
CY2012Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2134700000 USD
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
65000000 USD
CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
64200000 USD
CY2013Q4 nu Deferred Tax Liabilities Resulting From Property Tax Accruals And Other
DeferredTaxLiabilitiesResultingFromPropertyTaxAccrualsAndOther
95100000 USD
CY2012Q4 nu Deferred Tax Liabilities Resulting From Property Tax Accruals And Other
DeferredTaxLiabilitiesResultingFromPropertyTaxAccrualsAndOther
89600000 USD
CY2012Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
3468800000 USD
CY2013Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
158000000 USD
CY2012Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
214600000 USD
CY2013Q4 nu Purchase Accounting Deferred Tax Asset
PurchaseAccountingDeferredTaxAsset
132800000 USD
CY2012Q4 nu Purchase Accounting Deferred Tax Asset
PurchaseAccountingDeferredTaxAsset
146400000 USD
CY2013Q4 nu Deferred Tax Liabilities Goodwill Regulatory Asset
DeferredTaxLiabilitiesGoodwillRegulatoryAsset
211500000 USD
CY2012Q4 nu Deferred Tax Liabilities Goodwill Regulatory Asset
DeferredTaxLiabilitiesGoodwillRegulatoryAsset
210900000 USD
CY2010Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
101200000 USD
CY2011 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
8000000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
73500000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
10300000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
83100000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
100000 USD
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
-800000 USD
CY2011 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
-35700000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
8200000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
-1100000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
38200000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
-49800000 USD
CY2013 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
-2200000 USD
CY2013 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
-8600000 USD
CY2012 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
3100000 USD
CY2011 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
-2800000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
1500000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
10100000 USD
CY2013 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
Tax Positions: During 2013, NU received a Final Determination from the Connecticut Department of Revenue Services (DRS) that concluded its audit of NU's Connecticut income tax returns for the years 2005 through 2008. The DRS Determination resulted in total NU and CL&P after-tax benefits of $13.6 million and $6.9 million, respectively, that included a reduction in NU and CL&P pre-tax interest expense of $8.7 million and $4 million, or $5.2 million and $2.4 million after-tax, respectively. Further, the income tax expense impact resulted in a tax benefit to NU and CL&P of $8.4 million and $4.5 million after-tax, respectively. During 2011, NU recorded an after-tax benefit of $29.1 million related to various state tax settlements and certain other adjustments. This benefit was recorded as a reduction to both interest expense and income tax expense (including NU and CL&P tax expense reductions of approximately $22.4 million).
CY2011Q4 nu Tax Adjustments Settlements Total Impact
TaxAdjustmentsSettlementsTotalImpact
-29100000 USD
CY2011 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-22400000 USD
CY2013Q4 nu Tax Adjustments Settlements Total Impact
TaxAdjustmentsSettlementsTotalImpact
-13600000 USD
CY2013 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-8400000 USD
CY2011Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
31700000 USD
CY2012 us-gaap Accrual For Environmental Loss Contingencies Provision For New Losses
AccrualForEnvironmentalLossContingenciesProvisionForNewLosses
4700000 USD
CY2012 us-gaap Accrual For Environmental Loss Contingencies Payments
AccrualForEnvironmentalLossContingenciesPayments
8800000 USD
CY2012Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
39400000 USD
CY2013 us-gaap Accrual For Environmental Loss Contingencies Provision For New Losses
AccrualForEnvironmentalLossContingenciesProvisionForNewLosses
3500000 USD
CY2013 us-gaap Accrual For Environmental Loss Contingencies Payments
AccrualForEnvironmentalLossContingenciesPayments
7500000 USD
CY2013Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
35400000 USD
CY2012 nu Environmental Liability Assumed In Merger
EnvironmentalLiabilityAssumedInMerger
11800000 USD
CY2013 nu Environmental Site Quantity
EnvironmentalSiteQuantity
68 pure
CY2012 nu Environmental Site Quantity
EnvironmentalSiteQuantity
77 pure
CY2013Q4 nu Superfund Site Information
SuperfundSiteInformation
CERCLA: The federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) and its amendments or state equivalents impose joint and several strict liabilities, regardless of fault, upon generators of hazardous substances resulting in removal and remediation costs and environmental damages.  Liabilities under these laws can be material and in some instances may be imposed without regard to fault or for past acts that may have been lawful at the time they occurred.  Of the 68 sites, 10 sites (2 for CL&P, 3 for NSTAR Electric, 4 for PSNH and 1 for WMECO) are superfund sites under CERCLA for which the Company has been notified that it is a potentially responsible party but for which the site assessment and remediation are not being managed by the Company.  As of December 31, 2013, a liability of $1 million ($0.4 million for CL&P, and $0.3 million for PSNH) accrued on these sites represents management's best estimate of its potential remediation costs with respect to these superfund sites.
CY2013Q4 nu Range Of Potential Loss On Enivornmental Sites
RangeOfPotentialLossOnEnivornmentalSites
As of December 31, 2013, for 6 environmental sites (2 for PSNH, and 1 for WMECO) that are included in the Company's reserve for environmental costs, the information known and nature of the remediation options at those sites allow for the Company to estimate the range of losses for environmental costs. As of December 31, 2013, $5.8 million ($0.7 million for PSNH) had been accrued as a liability for these sites, which represent management's best estimates of the liabilities for environmental costs. These amounts are the best estimates with estimated ranges of additional losses from zero to $30 million (zero to $4.2 million for PSNH, and zero to $8.6 million for WMECO). As of December 31, 2013, for 20 environmental sites (4 for CL&P, 1 for NSTAR Electric, 3 for PSNH, and 2 for WMECO) that are included in the Company’s reserve for environmental costs, management cannot reasonably estimate the exposure to loss in excess of the reserve, or range of loss, as these sites are under investigation and/or there is significant uncertainty as to what remedial actions, if any, the Company may be required to undertake. As of December 31, 2013, $16.7 million ($1.6 million for CL&P, $0.1 million for PSNH, and $0.3 million for WMECO) had been accrued as a liability for these sites. As of December 31, 2013, for the remaining 42 environmental sites (14 for CL&P, 11 for NSTAR Electric, 10 for PSNH, and 2 for WMECO) that are included in the Company’s reserve for environmental costs, the $12.9 million accrual ($1.8 million for CL&P, $1.2 million for NSTAR Electric, $4.6 million for PSNH, and $0.1 million for WMECO) represents management’s best estimate of the liability and no additional loss is anticipated.
CY2013Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
538100000 USD
CY2013Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
428700000 USD
CY2013Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
368100000 USD
CY2013Q4 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
2385600000 USD
CY2013Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
5041500000 USD
CY2013Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
705400000 USD
CY2013Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
615600000 USD
CY2012 nu Supply And Stranded Costs Obligations Incurred
SupplyAndStrandedCostsObligationsIncurred
216800000 USD
CY2011 nu Supply And Stranded Costs Obligations Incurred
SupplyAndStrandedCostsObligationsIncurred
156000000 USD
CY2012 nu Peaker Cfd Expense Incurred
PeakerCfdExpenseIncurred
59300000 USD
CY2011 nu Peaker Cfd Expense Incurred
PeakerCfdExpenseIncurred
40200000 USD
CY2012 nu Natural Gas Procurement Costs Incurred
NaturalGasProcurementCostsIncurred
243100000 USD
CY2011 nu Natural Gas Procurement Costs Incurred
NaturalGasProcurementCostsIncurred
191700000 USD
CY2012 nu Fuel Costs Incurred
FuelCostsIncurred
105200000 USD
CY2013 nu Fuel Costs Incurred
FuelCostsIncurred
112600000 USD
CY2012 nu Transmission Support Commitment Costs Incurred
TransmissionSupportCommitmentCostsIncurred
24800000 USD
CY2011 nu Transmission Support Commitment Costs Incurred
TransmissionSupportCommitmentCostsIncurred
18100000 USD
CY2012 nu Renewable Energy Costs Incurred
RenewableEnergyCostsIncurred
48700000 USD
CY2011 nu Renewable Energy Costs Incurred
RenewableEnergyCostsIncurred
5100000 USD
CY2012Q4 nu Court Of Federal Claims Ruling To Cyapc
CourtOfFederalClaimsRulingToCyapc
39600000 USD
CY2012Q4 nu Court Of Federal Claims Ruling To Yaec
CourtOfFederalClaimsRulingToYaec
38300000 USD
CY2012Q4 nu Court Of Federal Claims Ruling To Myapc
CourtOfFederalClaimsRulingToMyapc
81700000 USD
CY2013Q4 nu Increase In Marketable Securities Current Period
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77900000 USD
CY2013Q4 nu Court Of Federal Claims Ruling To Cyapc
CourtOfFederalClaimsRulingToCyapc
126300000 USD
CY2013Q4 nu Court Of Federal Claims Ruling To Yaec
CourtOfFederalClaimsRulingToYaec
73300000 USD
CY2013Q4 nu Court Of Federal Claims Ruling To Myapc
CourtOfFederalClaimsRulingToMyapc
35800000 USD
CY2013 us-gaap Loss Contingency Managements Assessment And Process
LossContingencyManagementsAssessmentAndProcess
E.         FERC Base ROE Complaint On September 30, 2011, several New England state attorneys general, state regulatory commissions, consumer advocates and other parties filed a joint complaint with the FERC under Sections 206 and 306 of the Federal Power Act alleging that the base ROE used in calculating formula rates for transmission service under the ISO-NE Open Access Transmission Tariff by NETOs, including CL&P, NSTAR Electric, PSNH and WMECO, is unjust and unreasonable. The complainants asserted that the current 11.14 percent rate, which became effective in 2006, is excessive due to changes in the capital markets and are seeking an order to reduce the rate, which would be effective October 1, 2011. In response, the NETOs filed testimony and analysis based on standard FERC methodology and precedent demonstrating that the base ROE of 11.14 percent remained just and reasonable. The FERC set the case for trial before a FERC ALJ after settlement negotiations were unsuccessful in August 2012. Hearings before the FERC ALJ were held in May 2013, followed by the filing of briefs by the complainants, the Massachusetts municipal electric utilities (late interveners to the case), the FERC trial staff and the NETOs. The NETOs recommended that the current base ROE of 11.14 percent should remain in effect for the refund period (October 1, 2011 through December 31, 2012) and the prospective period (beginning when FERC issues its final decision). The complainants, the Massachusetts municipal electric utilities, and the FERC trial staff each recommended a base ROE of 9 percent or below. On August 6, 2013, the FERC ALJ issued an initial decision, finding that the base ROE in effect from October 2011 through December 2012 was not reasonable under the standard application of FERC methodology, but leaving policy considerations and additional adjustments to the FERC. Using the established FERC methodology, the FERC ALJ determined that separate base ROEs should be set for the refund period and the prospective period. The FERC ALJ found those base ROEs to be 10.6 percent and 9.7 percent, respectively. The FERC may adjust the prospective period base ROE in its final decision to reflect movement in 10-year Treasury bond rates from the date that the case was filed (April 2013) to the date of the final decision. The parties filed briefs on this decision with the FERC, and a decision from the FERC is expected in 2014. Though NU cannot predict the ultimate outcome of this proceeding, in 2013 the Company recorded a series of reserves at its electric subsidiaries to recognize the potential financial impact from the FERC ALJ's initial decision for the refund period. The aggregate after-tax charge to earnings totaled $14.3 million at NU, which represents reserves of $7.7 million at CL&P, $3.4 million at NSTAR Electric, $1.4 million at PSNH and $1.8 million at WMECO. On December 27, 2012, several additional parties filed a separate complaint concerning the NETOs' base ROE with the FERC. This complaint seeks to reduce the NETOs’ base ROE effective January 1, 2013, effectively extending the refund period for an additional 15 months, and to consolidate this complaint with the joint complaint filed on September 30, 2011. The NETOs have asked the FERC to reject this complaint. The FERC has not yet acted on this complaint, and management is unable to predict the ultimate outcome or estimate the impacts of this complaint on financial position, results of operations or cash flows. As of December 31, 2013, the CL&P, NSTAR Electric, PSNH, and WMECO aggregate shareholder equity invested in their transmission facilities was approximately $2.3 billion. As a result, each 10 basis point change in the prospective period authorized base ROE would change annual consolidated earnings by an approximate $2.3 million. F.        DPU Safety and Reliability Programs - CPSL Since 2006, NSTAR Electric has been recovering incremental costs related to the DPU-approved Safety and Reliability Programs. From 2006 through 2011, cumulative costs associated with the CPSL program resulted in an incremental revenue requirement to customers of approximately $83 million. These amounts included incremental operations and maintenance costs and the related revenue requirement for specific capital investments relative to the CPSL programs. On May 28, 2010, the DPU issued an order on NSTAR Electric’s 2006 CPSL cost recovery filing (the May 2010 Order). In October 2010, NSTAR Electric filed a reconciliation of the cumulative CPSL program activity for the periods 2006 through 2009 with the DPU in order to determine a proposed rate adjustment. The DPU allowed the proposed rates to go into effect January 1, 2011, subject to final reconciliation of CPSL program costs through a future DPU proceeding. In February 2013, NSTAR Electric updated the October 2010 filing with final activity through 2011. NSTAR Electric recorded its 2006 through 2011 revenues under the CPSL programs based on the May 2010 Order. NSTAR Electric cannot predict the timing of a final DPU order related to its CPSL filings for the period 2006 through 2011. While management does not believe that any subsequent DPU order would result in revenues that are materially different than the amounts already recognized, it is reasonably possible that an order could have a material impact on NSTAR Electric’s results of operations, financial position and cash flows. The April 4, 2012 DPU-approved comprehensive merger settlement agreement with the Massachusetts Attorney General stipulates that NSTAR Electric must incur a revenue requirement of at least $15 million per year for 2012 through 2015 related to these programs. CPSL revenues will end once NSTAR Electric has recovered its 2015-related CPSL costs. Realization of these revenues is subject to maintaining certain performance metrics over the four-year period and DPU approval. As of December 31, 2013, NSTAR Electric was in compliance with the performance metrics and has recognized the entire $15 million revenue requirement during 2013 and 2012. G.        Basic Service Bad Debt Adder In accordance with a generic DPU order, electric utilities in Massachusetts recover the energy-related portion of bad debt costs in their Basic Service rates. In 2007, NSTAR Electric filed its 2006 Basic Service reconciliation with the DPU proposing an adjustment related to the increase of its Basic Service bad debt charge-offs. The DPU issued an order approving the implementation of a revised Basic Service rate but instructed NSTAR Electric to reduce distribution rates by an amount equal to the increase in its Basic Service bad debt charge-offs. This adjustment to NSTAR Electric’s distribution rates would eliminate the fully reconciling nature of the Basic Service bad debt adder. In 2010, NSTAR Electric filed an appeal of the DPU’s order with the SJC. In 2012, the SJC vacated the DPU order and remanded the matter to the DPU for further review. The DPU has not taken any action on the remand. NSTAR Electric deferred approximately $34 million of costs associated with energy-related bad debt as a regulatory asset through 2011 as NSTAR Electric had concluded that it was probable that these costs would ultimately be recovered from customers. Due to the delays and the duration of the proceedings, NSTAR Electric concluded that while an ultimate outcome on the matter in its favor remained "more likely than not," it could no longer be deemed "probable." As a result, NSTAR Electric recognized a reserve related to the regulatory asset in 2012. NSTAR Electric will continue to maintain the reserve until the proceeding has been concluded with the DPU.
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
16300000 USD
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
14800000 USD
CY2011 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
8400000 USD
CY2013Q4 us-gaap Capital Leases Future Minimum Payments Due Current
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2600000 USD
CY2013Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
2400000 USD
CY2013Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
2200000 USD
CY2013Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
2100000 USD
CY2013Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
2100000 USD
CY2013Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
5400000 USD
CY2013Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
16800000 USD
CY2013Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
6100000 USD
CY2013Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
10700000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
96800000 USD
CY2013 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-200000 USD
CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
4300000 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-3300000 USD
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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-1300000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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20100000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
18100000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
15400000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
12400000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
8500000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
22300000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-16400000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
2000000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-14400000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1300000 USD
CY2013 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
900000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
400000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
57800000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
6400000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
32000000 USD
CY2013 nu Othercomprehensiveincomebeforereclassifications
Othercomprehensiveincomebeforereclassifications
18500000 USD
CY2013 nu Amountreclassifiedfromaoci
Amountreclassifiedfromaoci
8400000 USD
CY2013Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
19400000 USD
CY2013 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
-11400000 USD
CY2012 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
6200000 USD
CY2011 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
10200000 USD
CY2011 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
10200000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-3400000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
1400000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
-10500000 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
1300000 USD
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
600000 USD
CY2011 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-300000 USD
CY2012 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-200000 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
-8900000 USD
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
-5700000 USD
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
3500000 USD
CY2011 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
2300000 USD
CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-10700000 USD
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-9300000 USD
CY2011 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-6200000 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
2000000 USD
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
700000 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Transition Asset Obligation Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetTransitionAssetObligationNetOfTax
-200000 USD
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Transition Asset Obligation Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetTransitionAssetObligationNetOfTax
-200000 USD
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
3900000 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
5800000 USD
CY2012 nu Amountreclassifiedfromaoci
Amountreclassifiedfromaoci
7800000 USD
CY2011 nu Amountreclassifiedfromaoci
Amountreclassifiedfromaoci
4600000 USD
CY2013 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
3400000 USD
CY2013 nu Pension Serp And Pbop Gain Loss To Be Reclassified Within Twelve Months
PensionSerpAndPbopGainLossToBeReclassifiedWithinTwelveMonths
6500000 USD
CY2013 us-gaap Line Of Credit Facility Dividend Restrictions
LineOfCreditFacilityDividendRestrictions
CL&P, NSTAR Electric, PSNH and WMECO are subject to Section 305 of the Federal Power Act that makes it unlawful for a public utility to make or pay a dividend from any funds "properly included in its capital account." Management believes that this Federal Power Act restriction, as applied to CL&P, NSTAR Electric, PSNH and WMECO, would not be construed or applied by the FERC to prohibit the payment of dividends for lawful and legitimate business purposes from retained earnings. In addition, certain state statutes may impose additional limitations on such companies and on Yankee Gas and NSTAR Gas. Such state law restrictions do not restrict payment of dividends from retained earnings or net income. Pursuant to the joint revolving credit agreement of NU, CL&P, PSNH, WMECO, Yankee Gas and NSTAR Gas, and the NSTAR Electric revolving credit agreement, each company is required to maintain consolidated total debt to total capitalization ratio of no greater than 65 percent at all times. As of December 31, 2013, all companies were in compliance with such covenant. The Retained Earnings balances subject to these restrictions were $2.1 billion for NU, $961.5 million for CL&P, $1.4 billion for NSTAR Electric, $438.5 million for PSNH and $181 million for WMECO as of December 31, 2013.
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
5
CY2012Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
332509383 shares
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
333113492 shares
CY2012Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
380000000 shares
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
380000000 shares
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
17796672 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
18455749 shares
CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
5
CY2013Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
155600000 USD
CY2012Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
155600000 USD
CY2011 nu Other Impacts Of Merger With Nstar
OtherImpactsOfMergerWithNstar
39400000 USD
CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
899773 shares
CY2012 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
783812 shares
CY2011 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
394401 shares
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.49
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.90
CY2011 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.22
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.49
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.89
CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.22
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
315311387 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
316211160 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
277209819 shares
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
277993631 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
177410167 shares
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
177804568 shares
CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1575 shares
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4266 shares
CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4314 shares
CY2013 us-gaap Subsequent Event Description
SubsequentEventDescription
See Note 9, "Long-Term Debt," for information regarding the January 2014 Yankee Gas long-term debt issuance. See Note 3, "Regulatory Accounting," for information regarding the February 2014 PURA decision on CL&P’s request for approval to recover the restoration costs of the 2012 and 2011 major storms. See Note 12C, "Commitments and Contingencies - Contractual Obligations - Yankee Companies," for information regarding a January 2014 letter received from the U.S. Department of Justice stating that the DOE will not appeal the court's final judgment on the Yankee Companies' lawsuits against the DOE.
CY2013Q2 us-gaap Revenues
Revenues
1635900000 USD
CY2013Q3 us-gaap Revenues
Revenues
1892600000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
399300000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
350600000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
173100000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
211400000 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
209500000 USD
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
171000000 USD
CY2013Q1 us-gaap Revenues
Revenues
1995000000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
418900000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
230000000 USD
CY2012Q1 us-gaap Revenues
Revenues
1099600000 USD
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
214400000 USD
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
100800000 USD
CY2012Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
99300000 USD
CY2013Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
228100000 USD
CY2013Q4 us-gaap Revenues
Revenues
1777700000 USD
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
360600000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
179200000 USD
CY2013Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
177400000 USD
CY2012Q4 us-gaap Revenues
Revenues
1684000000 USD
CY2012Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
331400000 USD
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
176600000 USD
CY2012Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
174700000 USD
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.72
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.54
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.66
CY2013Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.56
CY2012Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.55
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.66
CY2012Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.15
CY2012Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.56
CY2013 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
55465000 USD
CY2012 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
36275000 USD
CY2011 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
16420000 USD
CY2013 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
87507000 USD
CY2012 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
80462000 USD
CY2011 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
60584000 USD
CY2010Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
119190000 USD
CY2011Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
115689000 USD
CY2012Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
165549000 USD
CY2013Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
171251000 USD
CY2013 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
37744000 USD
CY2012 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
34761000 USD
CY2011 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
40663000 USD
CY2013Q4 nu Impact Related To Nstar Merger
ImpactRelatedToNstarMerger
0 USD
CY2012Q4 nu Uncollectible Hardship Accounts Receivable Reserves
UncollectibleHardshipAccountsReceivableReserves
68600000 USD
CY2011Q4 nu Uncollectible Hardship Accounts Receivable Reserves
UncollectibleHardshipAccountsReceivableReserves
USD
CY2012Q4 nu Impact Related To Nstar Merger
ImpactRelatedToNstarMerger
59286000 USD
CY2013 dei Entity Registrant Name
EntityRegistrantName
NORTHEAST UTILITIES
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0000072741
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
315434940 shares
CY2013Q2 dei Entity Public Float
EntityPublicFloat
13224337788 USD
CY2013 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2012Q4 us-gaap Other Assets Current
OtherAssetsCurrent
199947000 USD
CY2012Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
792822000 USD
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
214288000 USD
CY2012Q4 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
216040000 USD
CY2012Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
5132411000 USD
CY2013Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
488515000 USD
CY2013 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-25253000 USD
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2384000 USD
CY2013Q4 us-gaap Assets Current
AssetsCurrent
2087049000 USD

Files In Submission

Name View Source Status
0000072741-14-000011-index-headers.html Edgar Link pending
0000072741-14-000011-index.html Edgar Link pending
0000072741-14-000011.txt Edgar Link pending
0000072741-14-000011-xbrl.zip Edgar Link pending
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