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FS-83
14. Accumulated Other Comprehensive Income/(Loss) (NU, CL&P, PSNH, WMECO)
The accumulated balance for each other comprehensive income/(loss), net of tax, item is as follows:
NU
(Millions of Dollars)
December 31,
2007
2008
Change
December 31,
2008
2009
Change
December 31,
2009
Qualified cash flow hedging instruments $ 2.3 $ (6.9) $ (4.6) $ 0.2 $ (4.4)
Unrealized gains/(losses) on other securities 2.9 (1.7) 1.2 (1.0) 0.2
Pension, SERP and PBOP benefits 4.2 (38.1) (33.9) (5.4) (39.3)
Accumulated other comprehensive income/(loss) $ 9.4 $ (46.7) $ (37.3) $ (6.2) $ (43.5)
CL&P
(Millions of Dollars)
December 31,
2007
2008
Change
December 31,
2008
2009
Change
December 31,
2009
Qualified cash flow hedging instruments $ (0.3) $ (3.3) $ (3.6) $ 0.4 $ (3.2)
Unrealized gains/(losses) on other securities 0.1 (0.1) - - -
Accumulated other comprehensive income/(loss) $ (0.2) $ (3.4) $ (3.6) $ 0.4 $ (3.2)
PSNH
(Millions of Dollars)
December 31,
2007
2008
Change
December 31,
2008
2009
Change
December 31,
2009
Qualified cash flow hedging instruments $ 0.6 $ (1.4) $ (0.8) $ 0.1 $ (0.7)
Unrealized gains/(losses) on other securities 0.2 (0.1) 0.1 (0.1) -
Accumulated other comprehensive income/(loss) $ 0.8 $ (1.5) $ (0.7) $ - $ (0.7)
WMECO
(Millions of Dollars)
December 31,
2007
2008
Change
December 31,
2008
2009
Change
December 31,
2009
Qualified cash flow hedging instruments $ 0.2 $ (0.1) $ 0.1 $ (0.1) $ -
Unrealized gains/(losses) on other securities - 0.1 0.1 (0.1) -
Accumulated other comprehensive income/(loss) $ 0.2 $ - $ 0.2 $ (0.2) $ -
The unrealized gains/(losses) on other securities above relate to $29 million and $53.5 million ($2.2 million and $1.8 million for CL&P,
$3.8 million and $3.2 million for PSNH and $0.6 million and $0.5 million for WMECO) of available-for-sale securities held in the NU
supplemental benefit trust as of December 31, 2009 and 2008, respectively. The fair value of these securities is included in
Prepayments and other on the accompanying consolidated balance sheets.
The changes in the components of other comprehensive income/(loss) are reported net of the following income tax effects:
NU
(Millions of Dollars) 2009 2008 2007
Qualified cash flow hedging instruments $ (0.2) $ 4.5 $ 2.5
Change in unrealized gains/(losses) on other securities 0.7 1.1 0.1
Pension, SERP and PBOP benefits 2.9 24.2 (9.8)
Total $ 3.4 $ 29.8 $ (7.2)
CL&P
(Millions of Dollars) 2009 2008 2007
Qualified cash flow hedging instruments $ (0.3) $ 2.2 $ 3.2
PSNH
(Millions of Dollars) 2009 2008 2007
Qualified cash flow hedging instruments $ - $ 1.0 $ 0.4
WMECO
(Millions of Dollars) 2009 2008 2007
Qualified cash flow hedging instruments $ 0.1 $ 0.1 $ (0.5)
Fair value adjustments included in accumulated other comprehensive income/(loss) for NU, CL&P, PSNH and WMECO qualified cash
flow hedging instruments are as follows:
As of December 31,
2009 2008
(Millions of Dollars, Net of Tax) NU NU
Balance at beginning of year $ (4.6) $ 2.3
Hedged transactions impacting Net income 0.2 0.4
Change in fair value of interest rate swap agreements - (7.0)
Cash flow transactions entered into for period - (0.3)
Net change associated with hedging transactions 0.2 (6.9)
Total fair value adjustments included in
Accumulated other comprehensive loss $ (4.4) $ (4.6)