2016 Q1 Form 10-Q Financial Statement
#000007274116000075 Filed on May 06, 2016
Income Statement
Concept | 2016 Q1 | 2015 Q1 |
---|---|---|
Revenue | $2.056B | $2.513B |
YoY Change | -18.21% | 9.73% |
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 | $195.0M | $163.8M |
YoY Change | 19.05% | 8.62% |
% of Gross Profit | ||
Operating Expenses | $1.567B | $2.016B |
YoY Change | -22.27% | 10.59% |
Operating Profit | $488.5M | $497.5M |
YoY Change | -1.81% | 6.37% |
Interest Expense | $98.21M | -$94.80M |
YoY Change | -203.6% | -205.36% |
% of Operating Profit | 20.1% | -19.06% |
Other Income/Expense, Net | $2.011M | $5.727M |
YoY Change | -64.89% | 243.55% |
Pretax Income | $392.3M | $408.4M |
YoY Change | -3.92% | 7.64% |
Income Tax | $146.3M | $153.2M |
% Of Pretax Income | 37.29% | 37.52% |
Net Earnings | $246.0M | $255.1M |
YoY Change | -3.57% | 7.28% |
Net Earnings / Revenue | 11.97% | 10.15% |
Basic Earnings Per Share | $0.77 | $0.80 |
Diluted Earnings Per Share | $0.77 | $0.80 |
COMMON SHARES | ||
Basic Shares Outstanding | 317.5M shares | 317.1M shares |
Diluted Shares Outstanding | 318.5M shares | 318.5M shares |
Balance Sheet
Concept | 2016 Q1 | 2015 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $51.00M | $71.00M |
YoY Change | -28.17% | -20.22% |
Cash & Equivalents | $51.00M | $71.00M |
Short-Term Investments | ||
Other Short-Term Assets | $1.245B | $1.209B |
YoY Change | 2.98% | 13.1% |
Inventory | $359.0M | $281.0M |
Prepaid Expenses | ||
Receivables | $891.0M | $1.131B |
Other Receivables | $44.00M | $100.0M |
Total Short-Term Assets | $2.591B | $2.793B |
YoY Change | -7.23% | 18.05% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $20.10B | $18.81B |
YoY Change | 6.84% | 6.2% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $503.0M | $518.0M |
YoY Change | -2.9% | 1.97% |
Other Assets | $4.003B | $4.311B |
YoY Change | -7.14% | 8.02% |
Total Long-Term Assets | $28.12B | $27.16B |
YoY Change | 3.54% | 5.55% |
TOTAL ASSETS | ||
Total Short-Term Assets | $2.591B | $2.793B |
Total Long-Term Assets | $28.12B | $27.16B |
Total Assets | $30.71B | $29.95B |
YoY Change | 2.54% | 6.6% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $782.0M | $896.0M |
YoY Change | -12.72% | 25.84% |
Accrued Expenses | ||
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $770.0M | $1.004B |
YoY Change | -23.31% | 75.83% |
Long-Term Debt Due | $379.0M | $246.0M |
YoY Change | 54.07% | -53.67% |
Total Short-Term Liabilities | $2.594B | $3.112B |
YoY Change | -16.65% | 11.54% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $9.145B | $8.602B |
YoY Change | 6.31% | 3.41% |
Other Long-Term Liabilities | $3.096B | $3.397B |
YoY Change | -8.86% | 17.18% |
Total Long-Term Liabilities | $12.24B | $12.00B |
YoY Change | 2.02% | 6.97% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $2.594B | $3.112B |
Total Long-Term Liabilities | $12.24B | $12.00B |
Total Liabilities | $20.12B | $19.69B |
YoY Change | 2.19% | 8.06% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | ||
YoY Change | ||
Common Stock | ||
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | 16.67M shares | 16.14M shares |
Shareholders Equity | $10.59B | $10.27B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $30.71B | $29.95B |
YoY Change | 2.54% | 6.6% |
Cashflow Statement
Concept | 2016 Q1 | 2015 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $246.0M | $255.1M |
YoY Change | -3.57% | 7.28% |
Depreciation, Depletion And Amortization | $195.0M | $163.8M |
YoY Change | 19.05% | 8.62% |
Cash From Operating Activities | $500.0M | $491.5M |
YoY Change | 1.71% | -0.46% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $431.5M | $362.6M |
YoY Change | 19.0% | 3.98% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$5.494M | -$66.00K |
YoY Change | 8224.24% | -95.97% |
Cash From Investing Activities | -$424.6M | -$364.5M |
YoY Change | 16.48% | 3.81% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | $0.00 | $0.00 |
YoY Change | -100.0% | |
Cash From Financing Activities | -$48.35M | -$94.69M |
YoY Change | -48.95% | -2.23% |
NET CHANGE | ||
Cash From Operating Activities | $500.0M | $491.5M |
Cash From Investing Activities | -$424.6M | -$364.5M |
Cash From Financing Activities | -$48.35M | -$94.69M |
Net Change In Cash | $27.02M | $32.32M |
YoY Change | -16.41% | -29.4% |
FREE CASH FLOW | ||
Cash From Operating Activities | $500.0M | $491.5M |
Capital Expenditures | $431.5M | $362.6M |
Free Cash Flow | $68.49M | $129.0M |
YoY Change | -46.89% | -11.13% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2015Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
5727000 | USD |
CY2015Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
408359000 | USD |
CY2015Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
1879000 | USD |
CY2015Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
253254000 | USD |
CY2015Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
254849000 | USD |
CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
509000 | USD |
CY2016Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
1669000 | USD |
CY2016Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
245822000 | USD |
CY2016Q1 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
534000 | USD |
CY2016Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
871000 | USD |
CY2016Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
264000 | USD |
CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
132000 | USD |
CY2016Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
1880000 | USD |
CY2015Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
1879000 | USD |
CY2015Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.42 | |
CY2016Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.45 | |
CY2016Q1 | us-gaap |
Interest Expense
InterestExpense
|
98212000 | USD |
CY2016Q1 | es |
Renewable Portfolio Standards Compliance Obligation
RenewablePortfolioStandardsComplianceObligation
|
170021000 | USD |
CY2015Q4 | es |
Renewable Portfolio Standards Compliance Obligation
RenewablePortfolioStandardsComplianceObligation
|
130354000 | USD |
CY2015Q4 | us-gaap |
Regulatory Liability Current
RegulatoryLiabilityCurrent
|
107759000 | USD |
CY2016Q1 | us-gaap |
Regulatory Liability Current
RegulatoryLiabilityCurrent
|
111414000 | USD |
CY2015Q1 | es |
Energy Efficiency Programs
EnergyEfficiencyPrograms
|
146603000 | USD |
CY2015Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
116735000 | USD |
CY2015Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-66000 | USD |
CY2015Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
114730000 | USD |
CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
954000 | USD |
CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
1595000 | USD |
CY2016Q1 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-13855000 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-48345000 | USD |
CY2016Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
27019000 | USD |
CY2015Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
148193000 | USD |
CY2015Q1 | us-gaap |
Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
|
26495000 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Regulatory Assets And Liabilities
IncreaseDecreaseInRegulatoryAssetsAndLiabilities
|
110748000 | USD |
CY2015Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-11891000 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
328299000 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-68172000 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
|
-272021000 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-59496000 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-34179000 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
491541000 | USD |
CY2015Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
362586000 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-364525000 | USD |
CY2015Q1 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-10805000 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-94692000 | USD |
CY2015Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
32324000 | USD |
CY2016Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
141157000 | USD |
CY2016Q1 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
500000000 | USD |
CY2016Q1 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
1880000 | USD |
CY2016Q1 | us-gaap |
Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
|
-391453000 | USD |
CY2016Q1 | us-gaap |
Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
|
30383000 | USD |
CY2015Q1 | us-gaap |
Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
|
26659000 | USD |
CY2014Q4 | us-gaap |
Cash
Cash
|
38703000 | USD |
CY2015Q1 | us-gaap |
Cash
Cash
|
71027000 | USD |
CY2016Q1 | es |
Description Of Consolidation Of Yankee Companies
DescriptionOfConsolidationOfYankeeCompanies
|
Eversource consolidates CYAPC and YAEC because CL&P's, NSTAR Electric's, PSNH's and WMECO's combined ownership interest in each of these entities is greater than 50 percent. Intercompany transactions between CL&P, NSTAR Electric, PSNH and WMECO and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements. Access Northeast is a natural gas pipeline and storage project (the "Project") being developed jointly by Eversource, Spectra Energy Corp and National Grid. Access Northeast will enhance the Algonquin and Maritimes & Northeast pipeline systems using existing routes. Eversource and Spectra Energy Corp each own a 40 percent interest in the Project, with the remaining 20 percent interest owned by National Grid. The total projected cost for both the pipeline and the LNG storage is expected to be approximately $3 billion, to be funded in proportion to ownership interest (approximately $1.2 billion by Eversource), with anticipated in-service dates commencing in November 2018. Eversource’s cumulative equity investment in the Project as of March 31, 2016 of $14.4 million is presented in Other Long-Term Assets. | |
CY2016Q1 | es |
Impact Of New Accounting Standard On Cash Flow Statement
ImpactOfNewAccountingStandardOnCashFlowStatement
|
9100000 | USD |
CY2015Q1 | es |
Impact Of New Accounting Standard On Cash Flow Statement
ImpactOfNewAccountingStandardOnCashFlowStatement
|
9700000 | USD |
CY2016Q1 | es |
Impact Of Share Based Compensation Accounting Guidance On Income Tax
ImpactOfShareBasedCompensationAccountingGuidanceOnIncomeTax
|
2500000 | USD |
CY2016Q1 | es |
Available For Sale Securities Subject To New Accounting Guidance
AvailableForSaleSecuritiesSubjectToNewAccountingGuidance
|
52000000 | USD |
CY2015Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
190700000 | USD |
CY2016Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
197600000 | USD |
CY2016Q1 | es |
Uncollectible Hardship Accounts Receivable Reserve
UncollectibleHardshipAccountsReceivableReserve
|
118900000 | USD |
CY2015Q4 | es |
Uncollectible Hardship Accounts Receivable Reserve
UncollectibleHardshipAccountsReceivableReserve
|
118500000 | USD |
CY2016Q1 | us-gaap |
Excise And Sales Taxes
ExciseAndSalesTaxes
|
42200000 | USD |
CY2015Q1 | us-gaap |
Excise And Sales Taxes
ExciseAndSalesTaxes
|
41900000 | USD |
CY2016Q1 | es |
Electric And Natural Gas Utility Accumulated Depreciation
ElectricAndNaturalGasUtilityAccumulatedDepreciation
|
6249000000 | USD |
CY2015Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
110400000 | USD |
CY2016Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
125600000 | USD |
CY2016Q1 | us-gaap |
Regulatory Assets
RegulatoryAssets
|
4622800000 | USD |
CY2015Q4 | us-gaap |
Regulatory Assets
RegulatoryAssets
|
4583800000 | USD |
CY2016Q1 | us-gaap |
Amount Of Regulatory Costs Not Yet Approved
AmountOfRegulatoryCostsNotYetApproved
|
76100000 | USD |
CY2015Q4 | us-gaap |
Amount Of Regulatory Costs Not Yet Approved
AmountOfRegulatoryCostsNotYetApproved
|
75300000 | USD |
CY2016Q1 | us-gaap |
Regulatory Liabilities
RegulatoryLiabilities
|
637900000 | USD |
CY2015Q4 | us-gaap |
Regulatory Liabilities
RegulatoryLiabilities
|
621400000 | USD |
CY2016Q1 | us-gaap |
Public Utilities Disclosure Of Regulatory Matters Pending
PublicUtilitiesDisclosureOfRegulatoryMattersPending
|
||
CY2016Q1 | us-gaap |
Public Utilities Property Plant And Equipment Distribution
PublicUtilitiesPropertyPlantAndEquipmentDistribution
|
13227400000 | USD |
CY2016Q1 | es |
Public Utilities Property Plant And Equipment Distribution Natural Gas
PublicUtilitiesPropertyPlantAndEquipmentDistributionNaturalGas
|
2759100000 | USD |
CY2016Q1 | us-gaap |
Public Utilities Property Plant And Equipment Transmission
PublicUtilitiesPropertyPlantAndEquipmentTransmission
|
7725300000 | USD |
CY2016Q1 | us-gaap |
Public Utilities Property Plant And Equipment Generation Or Processing
PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing
|
1210300000 | USD |
CY2016Q1 | es |
Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total
PublicUtilitiesPropertyPlantAndEquipmentElectricAndNaturalGasUtilityTotal
|
24922100000 | USD |
CY2016Q1 | us-gaap |
Public Utilities Property Plant And Equipment Other Property Plant And Equipment
PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment
|
575500000 | USD |
CY2016Q1 | us-gaap |
Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
|
25497600000 | USD |
CY2016Q1 | es |
Other Accumulated Depreciation
OtherAccumulatedDepreciation
|
264800000 | USD |
CY2016Q1 | us-gaap |
Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
|
6513800000 | USD |
CY2016Q1 | es |
Property Plant And Equipment Net Excluding Construction Work In Progress
PropertyPlantAndEquipmentNetExcludingConstructionWorkInProgress
|
18983800000 | USD |
CY2016Q1 | us-gaap |
Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
|
1112900000 | USD |
CY2015Q4 | us-gaap |
Public Utilities Property Plant And Equipment Distribution
PublicUtilitiesPropertyPlantAndEquipmentDistribution
|
13054800000 | USD |
CY2015Q4 | es |
Public Utilities Property Plant And Equipment Distribution Natural Gas
PublicUtilitiesPropertyPlantAndEquipmentDistributionNaturalGas
|
2727200000 | USD |
CY2015Q4 | us-gaap |
Public Utilities Property Plant And Equipment Transmission
PublicUtilitiesPropertyPlantAndEquipmentTransmission
|
7691900000 | USD |
CY2015Q4 | us-gaap |
Public Utilities Property Plant And Equipment Generation Or Processing
PublicUtilitiesPropertyPlantAndEquipmentGenerationOrProcessing
|
1194100000 | USD |
CY2015Q4 | es |
Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total
PublicUtilitiesPropertyPlantAndEquipmentElectricAndNaturalGasUtilityTotal
|
24668000000 | USD |
CY2015Q4 | us-gaap |
Public Utilities Property Plant And Equipment Other Property Plant And Equipment
PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment
|
558600000 | USD |
CY2015Q4 | us-gaap |
Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
|
25226600000 | USD |
CY2015Q4 | es |
Electric And Natural Gas Utility Accumulated Depreciation
ElectricAndNaturalGasUtilityAccumulatedDepreciation
|
6141100000 | USD |
CY2015Q4 | es |
Other Accumulated Depreciation
OtherAccumulatedDepreciation
|
255600000 | USD |
CY2015Q4 | us-gaap |
Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
|
6396700000 | USD |
CY2015Q4 | es |
Property Plant And Equipment Net Excluding Construction Work In Progress
PropertyPlantAndEquipmentNetExcludingConstructionWorkInProgress
|
18829900000 | USD |
CY2015Q4 | us-gaap |
Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
|
1062500000 | USD |
CY2016Q1 | us-gaap |
Description Of Derivative Activity Volume
DescriptionOfDerivativeActivityVolume
|
Commodity Supply and Price Risk Management: As required by regulation, CL&P, along with UI, has capacity-related contracts with generation facilities. CL&P has a sharing agreement with UI, with 80 percent of the costs or benefits of each contract borne by or allocated to CL&P and 20 percent borne by or allocated to UI. The combined capacity of these contracts is 787 MW. The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the capacity market price received in the ISO-NE capacity markets. In addition, CL&P has a contract to purchase 0.1 million MWh of energy per year through 2020. NSTAR Electric has a renewable energy contract to purchase 0.1 million MWh of energy per year through 2018 and a capacity-related contract to purchase up to 35 MW per year through 2019. As of March 31, 2016 and December 31, 2015, Eversource had NYMEX financial contracts for natural gas futures in order to reduce variability associated with the purchase price of approximately 5.3 million and 9.1 million MMBtu of natural gas, respectively. | |
CY2016Q1 | us-gaap |
Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
|
700000 | USD |
CY2015Q4 | us-gaap |
Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
|
5800000 | USD |
CY2015Q4 | us-gaap |
Additional Collateral Aggregate Fair Value
AdditionalCollateralAggregateFairValue
|
5800000 | USD |
CY2016Q1 | us-gaap |
Additional Collateral Aggregate Fair Value
AdditionalCollateralAggregateFairValue
|
900000 | USD |
CY2016Q1 | es |
Derivative Instruments Gain Loss Recognized In Regulatory Asset Liability
DerivativeInstrumentsGainLossRecognizedInRegulatoryAssetLiability
|
-30500000 | USD |
CY2015Q1 | es |
Derivative Instruments Gain Loss Recognized In Regulatory Asset Liability
DerivativeInstrumentsGainLossRecognizedInRegulatoryAssetLiability
|
-16600000 | USD |
CY2016Q1 | es |
Fairvalueinputsexitpricepremium
Fairvalueinputsexitpricepremium
|
Exit price premiums of 5 percent through 22 percent are also applied on these contracts and reflect the uncertainty and illiquidity premiums that would be required based on the most recent market activity available for similar type contracts | |
CY2014Q4 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
415400000 | USD |
CY2015Q1 | es |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedInRegAssetLiability
|
-12100000 | USD |
CY2015Q4 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
380900000 | USD |
CY2016Q1 | es |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedInRegAssetLiability
|
-28900000 | USD |
CY2016Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
|
22100000 | USD |
CY2016Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
387700000 | USD |
CY2015Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
406800000 | USD |
CY2015Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
|
20700000 | USD |
CY2016Q1 | us-gaap |
Trading Securities Equity
TradingSecuritiesEquity
|
14000000 | USD |
CY2015Q4 | us-gaap |
Trading Securities Equity
TradingSecuritiesEquity
|
14200000 | USD |
CY2016Q1 | us-gaap |
Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
|
200000 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
|
1600000 | USD |
CY2016Q1 | us-gaap |
Marketable Securities Restricted Noncurrent
MarketableSecuritiesRestrictedNoncurrent
|
424200000 | USD |
CY2015Q4 | us-gaap |
Marketable Securities Restricted Noncurrent
MarketableSecuritiesRestrictedNoncurrent
|
436900000 | USD |
CY2016Q1 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
|
38200000 | USD |
CY2016Q1 | us-gaap |
Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
|
51500000 | USD |
CY2016Q1 | us-gaap |
Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
|
42700000 | USD |
CY2016Q1 | us-gaap |
Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
|
125500000 | USD |
CY2016Q1 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
|
38200000 | USD |
CY2016Q1 | us-gaap |
Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
|
52100000 | USD |
CY2016Q1 | us-gaap |
Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
|
44400000 | USD |
CY2016Q1 | us-gaap |
Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
|
130100000 | USD |
CY2016Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
264800000 | USD |
CY2016Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
257900000 | USD |
CY2016Q1 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
532000000 | USD |
CY2015Q4 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
545700000 | USD |
CY2016Q1 | us-gaap |
Line Of Credit Facility Description
LineOfCreditFacilityDescription
|
Commercial Paper Programs and Credit Agreements: Eversource parent has a $1.45 billion commercial paper program allowing Eversource parent to issue commercial paper as a form of short-term debt. As of March 31, 2016 and December 31, 2015, Eversource parent had $621 million and approximately $1.1 billion, respectively, in short-term borrowings outstanding under the Eversource parent commercial paper program, leaving $829 million and $351.5 million of available borrowing capacity as of March 31, 2016 and December 31, 2015, respectively. The weighted-average interest rate on these borrowings as of March 31, 2016 and December 31, 2015 was 0.68 percent and 0.72 percent, respectively. As of March 31, 2016, there were intercompany loans from Eversource parent of $115.5 million to CL&P, $157.1 million to PSNH and $143.5 million to WMECO. As of December 31, 2015, there were intercompany loans from Eversource parent of $277.4 million to CL&P, $231.3 million to PSNH and $143.4 million to WMECO. Eversource parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas are parties to a five-year $1.45 billion revolving credit facility, which terminates on September 4, 2020. The revolving credit facility serves to backstop Eversource parent's $1.45 billion commercial paper program. NSTAR Electric has a $450 million commercial paper program allowing NSTAR Electric to issue commercial paper as a form of short-term debt. As of March 31, 2016 and December 31, 2015, NSTAR Electric had $148.5 million and $62.5 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $301.5 million and $387.5 million of available borrowing capacity as of March 31, 2016 and December 31, 2015, respectively. The weighted-average interest rate on these borrowings as of March 31, 2016 and December 31, 2015 was 0.38 percent and 0.40 percent, respectively. NSTAR Electric is a party to a five-year $450 million revolving credit facility, which terminates on September 4, 2020. The revolving credit facility serves to backstop NSTAR Electric's $450 million commercial paper program. | |
CY2016Q1 | us-gaap |
Long Term Debt Description
LongTermDebtDescription
|
Long-Term Debt: Long-Term Debt: In March 2016, Eversource parent issued $250 million of 2.50 percent Series I Senior Notes due to mature in 2021 and $250 million of 3.35 percent Series J Senior Notes due to mature in 2026. The proceeds, net of issuance costs, were used to repay short-term borrowings under the Eversource parent commercial paper program. | |
CY2016Q1 | es |
Impact Of Change In Accounting Estimate Spot Rate Discount Rate
ImpactOfChangeInAccountingEstimateSpotRateDiscountRate
|
2500000 | USD |
CY2015Q1 | es |
Amount That Represents Deferred Regulatory Assets
AmountThatRepresentsDeferredRegulatoryAssets
|
1000000 | USD |
CY2015Q4 | us-gaap |
Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
|
51100000 | USD |
CY2016Q1 | es |
Environmental Site Quantity
EnvironmentalSiteQuantity
|
64 | pure |
CY2015 | es |
Environmental Site Quantity
EnvironmentalSiteQuantity
|
64 | pure |
CY2016Q1 | us-gaap |
Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
|
51700000 | USD |
CY2016Q1 | us-gaap |
Loss Contingency Managements Assessment And Process
LossContingencyManagementsAssessmentAndProcess
|
C.        Spent Nuclear Fuel Litigation - Yankee Companies The Yankee Companies have filed separate complaints against the DOE in the Court of Federal Claims seeking monetary damages resulting from the DOE's failure to provide for a permanent facility to store spent nuclear fuel pursuant to the terms of the 1983 spent fuel and high level waste disposal contracts between the Yankee Companies and the DOE. The court had previously awarded the Yankee Companies damages for Phase I and Phase II of litigation resulting from the DOE's failure to meet its contractual obligations. Phase I covered damages incurred in the years 1998 through 2002 and Phase II covered damages incurred in the years 2001 through 2008 for CYAPC and YAEC and from 2002 through 2008 for MYAPC. DOE Phase III Damages - In August 2013, the Yankee Companies each filed subsequent lawsuits against the DOE seeking recovery of actual damages incurred in the years 2009 through 2012. The DOE Phase III trial concluded on July 1, 2015, followed by a post-trial briefing that concluded on October 14, 2015. On March 25, 2016, the court issued its decision, awarding CYAPC, YAEC and MYAPC damages of $32.6 million, $19.6 million and $24.6 million, respectively. In total, the Yankee Companies were awarded $76.8 million of the $77.9 million in damages sought by the Yankee Companies in Phase III. Any amounts refunded to Eversource utilities, which include CL&P, NSTAR Electric, PSNH and WMECO, will ultimately be refunded to utility customers. The parties have 60 days following the final judgment date to appeal. At this time, management cannot predict the timing or amount of damages that will ultimately be awarded. D.        FERC ROE Complaints FERC ROE Complaints I, II and III: Three separate complaints have been filed at FERC by combinations of New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (the "Complainants"). In these three separate complaints, the Complainants challenged the NETOs' base ROE of 11.14 percent that had been utilized since 2006 and sought an order to reduce it prospectively from the date of the final FERC order and for the 15-month complaint refund periods stipulated in the separate complaints. In 2014, the FERC ordered a 10.57 percent base ROE for the first complaint refund period and prospectively from October 16, 2014, and that a utility's total or maximum ROE shall not exceed the top of the new zone of reasonableness, which was set at 11.74 percent. In late 2014, the NETOs made a compliance filing, and the Company began issuing refunds to customers from the first complaint period. The Company has refunded all amounts associated with the first complaint period. As a result of developments in this matter, the Company recorded reserves across the complaint periods at its electric subsidiaries in the first quarter of 2015 and recognized a pre-tax charge to earnings (excluding interest) of $20 million, of which $12.5 million was recorded at CL&P, $2.4 million at NSTAR Electric, $1 million at PSNH, and $4.1 million at WMECO. The pre-tax charge was recorded as a regulatory liability and as a reduction to Operating Revenues. The NETOs and Complainants have filed appeals for the first complaint to the D.C. Circuit Court of Appeals. A court decision is expected in late 2016. For the second and third complaints, the state parties, municipal utilities and FERC trial staff each believe that the base ROE should be reduced to an amount lower than 10.57 percent. The NETOs believe that the Complainants' positions are without merit. On March 22, 2016, the FERC ALJ issued an initial decision on the second and third FERC ROE complaints. For the second complaint period, the FERC ALJ recommended a zone of reasonableness of 7.12 percent to 10.42 percent and a base ROE of 9.59 percent. For the third complaint period, the FERC ALJ recommended a zone of reasonableness of 7.04 percent to 12.19 percent and a base ROE of 10.90 percent. The FERC ALJ also affirmed that the maximum ROE for transmission incentive projects should be the top of the zone of reasonableness. The NETOs filed briefs on April 21, 2016, in which the NETOs identified corrections and requested changes that should be made to the FERC ALJ’s recommendations. A final FERC order is expected in late 2016 or early 2017. The Company believes that the range of potential loss for the second complaint period (the 15-month period beginning December 27, 2012) is from a base ROE of 10.57 percent to a base ROE of 9.59 percent. As the FERC ALJ initial decision on the third complaint recommended a base ROE of 10.90 percent, the Company concluded there is currently no range of potential loss for that complaint period. Given the differences between the recommended base ROEs in the FERC ALJ’s initial decision on the second and third complaints, as well as other factors, the Company is unable to predict the outcome of the final FERC order on these complaints. The Company does not believe any base ROE outcome within the 10.57 percent to 9.59 percent range is more likely than the base ROEs used to record the current revenues and reserves, and therefore the Company believes that the current reserves for the second complaint period are appropriate at this time. The impact of a 10 basis point change to the existing base ROE of 10.57 percent would affect Eversource's after-tax earnings by approximately $3 million for each of the 15-month second and third complaint periods.  If the Company adjusted its reserves based on the recommendations in the FERC ALJ initial decision (for both the base ROE and maximum ROE for transmission incentive projects) for the second and third complaints, then it would result in an after-tax increase of approximately $34 million and an after-tax decrease of approximately $8 million, respectively, to the existing reserves. FERC ROE Complaint IV: On April 29, 2016, a fourth complaint was filed with the FERC. At this time, the Company is unable to predict the outcome of this complaint. E.        PSNH Generation Restructuring On June 10, 2015, Eversource and PSNH entered into the 2015 Public Service Company of New Hampshire Restructuring and Rate Stabilization Agreement (the Agreement) with the New Hampshire Office of Energy and Planning, certain members of the NHPUC staff, the Office of Consumer Advocate, two State Senators, and several other parties. The Agreement was filed with the NHPUC on the same day. Under the terms of the Agreement, PSNH agreed to divest its generation assets upon NHPUC approval. The Agreement is designed to provide a resolution of issues pertaining to PSNH's generation assets in pending regulatory proceedings before the NHPUC. The Agreement provided for the Clean Air Project prudence proceeding to be resolved and all remaining Clean Air Project costs to be included in rates effective January 1, 2016. As part of the Agreement, PSNH agreed to forego recovery of $25 million of the deferred equity return related to the Clean Air Project. In addition, PSNH will not seek a general distribution rate increase effective before July 1, 2017 and will contribute $5 million to create a clean energy fund, which will not be recoverable from its customers. In 2015, PSNH recorded the $5 million contribution as a long-term liability and an increase to Operations and Maintenance expense on the statements of income. Upon completion of the divestiture process, all remaining stranded costs will be recovered via bonds that will be secured by a non-bypassable charge or through other recoveries in rates billed to PSNH customers. On January 26, 2016, Advisory Staff of the NHPUC and the parties to the Agreement filed a stipulation with the NHPUC agreeing that near-term divestiture of PSNH’s generation was in the public interest and that the Agreement should be approved. Implementation of the Agreement is subject to NHPUC approval, which is expected in 2016. If the NHPUC approves the settlements and the sale of the plants, the Company expects the plants will be sold in the first half of 2017. The sales price of the generating assets could be less than the carrying value, but the Company believes that full recovery of PSNH's generation assets is probable through a combination of cash flows during the remaining operating period, sales proceeds upon divestiture, and recovery of stranded costs in future rates. | |
CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
|
100000 | USD |
CY2016Q1 | us-gaap |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
|
200000 | USD |
CY2016Q1 | us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-1400000 | USD |
CY2015Q1 | us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-1500000 | USD |
CY2014Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-74000000 | USD |
CY2015Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-72400000 | USD |
CY2015Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
16671366 | shares |
CY2016Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
5 | |
CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
333862615 | shares |
CY2016Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
333878402 | shares |
CY2016Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
380000000 | shares |
CY2016Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
16671366 | shares |
CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
5 | |
CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
380000000 | shares |
CY2016Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
317207036 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
317191249 | shares |
CY2016Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
963909 | shares |
CY2015Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
1400347 | shares |
CY2016Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
317517141 | shares |
CY2016Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
318481050 | shares |
CY2015Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
317090841 | shares |
CY2015Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
318491188 | shares |
CY2016Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.77 | |
CY2015Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.80 | |
CY2016Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
Eversource Energy | |
CY2016Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2016Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2016-03-31 | |
CY2016Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000072741 | |
CY2016Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2016Q1 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
317207036 | shares |
CY2016Q1 | dei |
Entity Public Float
EntityPublicFloat
|
14345789335 | USD |
CY2016Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | |
CY2016Q1 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2016Q1 | dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | |
CY2016Q1 | dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
Yes | |
CY2016Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2016 | |
CY2016Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2016Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2016Q1 | dei |
Trading Symbol
TradingSymbol
|
ES |