Eversource 2009 Annual Report Download - page 163

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the realized gains and losses on the sale of available-for-sale securities. Proceeds from the sale of these securities, including proceeds
from short-term investments, totaled $208.9 million, $259.4 million and $254.8 million for the years ended December 31, 2009, 2008
and 2007, respectively. WMECO's portion of these proceeds totaled $106.3 million, $169.1 million and $196.9 million for the years
ended December 31, 2009, 2008 and 2007, respectively.
For further information regarding marketable securities, see Note 1U, "Summary of Significant Accounting Policies - Marketable
Securities," to the consolidated financial statements.
10. Leases (All Companies)
Various NU subsidiaries, including CL&P, PSNH and WMECO, have entered into lease agreements, some of which are capital leases,
for the use of data processing and office equipment, vehicles, and office space. In addition, CL&P, PSNH and WMECO incur costs
associated with leases entered into by NUSCO and RRR. These costs are included below in CL&P, PSNH and WMECO's operating
lease payments charged to expense and amounts capitalized as well as future operating lease payments from 2010 through 2014 and
thereafter. These amounts are eliminated for NU. The provisions of these lease agreements generally contain renewal options.
Certain lease agreements contain contingent lease payments. The contingent lease payments are based on various factors, such as
the commercial paper rate plus a credit spread or the consumer price index.
For the years ended December 31, 2009, 2008, and 2007, rental payments made on capital leases, interest included in capital lease
payments, and capital lease asset amortization were as follows (in millions):
Rental Payments Interest Asset Amortization
NU CL&P PSNH NU CL&P PSNH NU CL&P PSNH
2009 $ 2.6 $ 1.9 $ 0.5 $ 1.9 $ 1.6 $ 0.3 $ 0.6 $ 0.3 $ 0.2
2008 2.5 2.1 0.4 1.8 1.7 0.1 0.7 0.4 0.3
2007 2.9 2.5 0.4 2.0 1.8 0.2 0.9 0.7 0.2
There was a de minimus amount of capital leases held by WMECO in 2009, 2008, and none in 2007.
For the years ended December 31, 2009, 2008 and 2007, operating lease rental payments charged to expense and the capitalized
portion of operating lease payments were as follows (in millions):
Expensed Capitalized
NU CL&P PSNH WMECO NU CL&P PSNH WMECO
2009 $ 18.1 $ 12.8 $ 3.9 $3.4 $ 9.7 $6.1 $ 1.5 $1.1
2008 19.1 12.7 4.1 3.8 10.8 6.8 1.8 1.3
2007 19.6 13.2 3.5 4.0 10.5 6.5 2.0 1.2
Future minimum rental payments excluding executory costs, such as property taxes, state use taxes, insurance, and maintenance,
under long-term noncancelable leases, as of December 31, 2009 are as follows:
Capital Leases NU
(Millions of Dollars)
2010 $ 2.5
2011 2.5
2012 2.6
2013 2.4
2014 2.0
Thereafter 13.4
Future minimum lease payments $ 25.4
Less amount representing interest 12.5
Present value of future minimum lease payments $ 12.9
Capital Leases CL&P PSNH
(Millions of Dollars)
2010 $ 1.9 $0.5
2011 1.9 0.5
2012 2.0 0.5
2013 2.0 0.4
2014 1.8 0.2
Thereafter 13.2 0.3
Future minimum lease payments $ 22.8 $2.4
Less amount representing interest 11.8 0.7
Present value of future minimum lease payments $ 11.0 $1.7