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S-3
SCHEDULE I
NORTHEAST UTILITIES (PARENT)
FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2013, 2012 and 2011
(Thousands of Dollars)
2013
2012 (1)
2011
Operating Activities:
Net Income
$
786,007
$
526.048
$
394,955
Adjustments to Reconcile Net Income to Net Cash
Flows Provided by Operating Activities:
Equity in Earnings of Subsidiaries
(785,650)
(579,221)
(422,408)
Cash Dividends Received from Subsidiaries
407.837
374,584
389,292
Deferred Income Taxes
15,159
(15,350)
(15,934)
Other
29,169
(3,755)
33,238
Changes in Current Assets and Liabilities:
Receivables, Including Affiliate Receivables
14,704
(18,321)
(436)
Taxes Receivable/Accrued, Net
13,295
(16,872)
11,537
Accounts Payable, Including Affiliate Payables
(7,058)
48,332
(183)
Other Current Assets and Liabilities, Net
(1,411)
60,182
484
Net Cash Flows Provided by Operating Activities
472,052
375,627
390,545
Investing Activities:
Capital Contributions to Subsidiaries
(65,400)
(81,431)
(233,349)
Return of Investment in Subsidiaries
-
8,207
-
Decrease in Money Pool Lending
-
2,200
400
Decrease/(Increase) in Notes Receivable from Affiliated Companies
5,475
(704,475)
19,000
Other Investing Activities
(1,862)
(608)
(2,585)
Net Cash Flows Used in Investing Activities
(61,787)
(776,107)
(216,534)
Financing Activities:
Cash Dividends on Common Shares
(462,741)
(375,047)
(194,555)
Issuance of Long-Term Debt
750,000
300,000
-
Retirement of Long-Term Debt
(550,000)
(263,000)
-
(Decrease)/Increase in Short-Term Debt
(135,500)
733,500
19,000
Other Financing Activities
(12,418)
5,394
1,338
Net Cash Flows (Used in)/Provided by Financing Activities
(410,659)
400,847
(174,217)
Net (Decrease)/Increase in Cash
(394)
367
(206)
Cash - Beginning of Year
429
62
268
Cash - End of Year
$
35
$
429
$
62
Supplemental Cash Flow Information:
Cash Paid/(Received) During the Year for:
Interest
$
33,822
$
50,144
$
24,951
Income Taxes
$
(30,603)
$
(27,126)
$
(10,833)
(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 Oc
tober 31, 2013. In accordance with accounting guidance on combinations between entities 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."