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S-2
SCHEDULE I
NORTHEAST UTILITIES (PARENT)
FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2013, 2012 AND 2011
(Thousands of Dollars, Except Share Information)
2013
2012 (1)
2011
Operating Revenues
$
8
$
2
$
-
Operating Expenses:
Other
12,766
80,719
19,075
Operating Loss
(12,758)
(80,717)
(19,075)
Interest Expense
31,639
36,325
26,767
Other Income, Net:
Equity in Earnings of Subsidiaries
785,650
579,221
422,408
Other, Net
5,062
6,080
4,247
Other Income, Net
790,712
585,301
426,655
Income Before Income Tax Benefit
746,315
468,259
380,813
Income Tax Benefit
(39,692)
(57,789)
(14,142)
Net Income
786,007
526,048
394,955
Net Income Attributable to Noncontrolling Interest
-
103
262
Net Income Attributable to Controlling Interest
$
786,007
$
525,945
$
394,693
Basic Earnings per Common Share
$
2.49
$
1.90
$
2.22
Diluted Earnings per Common Share
$
2.49
$
1.89
$
2.22
Weighted Average Common Shares Outstanding:
Basic
315,311,387
277,209,819
177,410,167
Diluted
316,211,160
277,993,631
177,804,568
STATEMENTS OF COMPREHENSIVE INCOME
Net Income
$
786,007
$
526,048
$
394,955
Other Comprehensive Income/(Loss), Net of Tax:
Qualified Cash Flow Hedging Instruments
2,049
1,971
(14,177)
Changes in Unrealized Gains/(Losses) on Other Securities
(940)
217
506
Change in Funded Status of Pension, SERP and PBOP
Benefit Plans
25,714
(4,356)
(13,645)
Other Comprehensive Income/(Loss), Net of Tax
26,823
(2,168)
(27,316)
Comprehensive Income Attributable to Noncontrolling Interest
-
(103)
(262)
Comprehensive Income Attributable to Controlling Interest
$
812,830
$
523,777
$
367,377
(1)
NU transferred the net assets, results of operations and related cash flows of NSTAR LLC, the former parent company of NSTAR,
to NU parent effective October 31, 2013. In accordance with accounting guidance on combinations between entiti
es or businesses
under common control, the net assets, results of operations and related cash flows of NSTAR LLC are reflected in the NU parent
financial statements beginning April 10, 2012, the effective date NU controlled both subsidiaries.
See the
Combined Notes to Consolidated Financial Statements in this Annual Report on Form 10-K for a description of significant
accounting matters related to NU parent, including NU common shares information as described in Note 17,
"Common Shares,"
material obligations and guarantees as described in Note 12,
"Commitments and Contingencies,"
and debt agreements as described in
Note 8,
"Short-Term Debt," and Note 9, "Long-Term Debt."