Eversource 2013 Annual Report Download - page 63

51
CL&P
(Millions of Dollars)
2014
2015
2016
2017
2018
Thereafter
Total
Long-term debt maturities (a)
$
150.0
$
162.0
$
-
$
250.0
$
300.0
$
1,640.3
$
2,502.3
Estimated interest payments on existing debt (b)
127.9
118.2
115.7
111.7
93.4
953.7
1,520.6
Capital leases (c)
2.1
2.0
1.9
2.0
2.0
5.4
15.4
Operating leases (d)
4.0
3.6
2.9
1.7
1.2
4.7
18.1
Funding of pension obligations (d) (h)
-
-
0.5
10.2
5.4
-
16.1
Funding of other postretirement benefit obligations (d)
4.2
3.4
1.9
0.6
0.6
0.5
11.2
Estimated future annual long-term contractual costs (e)
256.1
249.9
247.2
191.1
176.8
872.6
1,993.7
Other purchase commitments (d) (g)
678.9
-
-
-
-
-
678.9
Total (f) (i)
$
1,223.2
$
539.1
$
370.1
$
567.3
$
579.4
$
3,477.2
$
6,756.3
(a) Long-term debt maturities exclude fees and interest due for spent nuclear fuel disposal costs, net unamortized premiums and discounts, and other
fair value adjustments.
(b) Estimated interest payments on fixed-rate debt are calculated by multiplying the coupon rate on the debt by its scheduled notional amount
outstanding for the period of measurement. Estimated interest payments on floating-rate debt are calculated by multiplying the average of the 2013
floating-rate resets on the debt by its scheduled notional amount outstanding for the period of measurement. This same rate is then assumed for
the remaining life of the debt.
(c) The capital lease obligations include imputed interest.
(d) Amounts are not included on our balance sheets.
(e) Other than the net mark-to-market changes on derivative contracts held by the Regulated companies, these obligations are not included on our
balance sheets.
(f) Does not include unrecognized tax benefits as of December 31, 2013, as we cannot make reasonable estimates of the periods or the potential
amounts of cash settlement with the respective taxing authorities. Also does not include an NU contingent commitment of approximately $38.1
million to an energy investment fund, which would be invested under certain conditions, as we cannot make reasonable estimates of the periods or
the investment contributions.
(g) Amount represents open purchase orders, excluding those obligations that are included in the capital leases, operating leases and estimated future
annual long-term contractual costs. These payments are subject to change as certain purchase orders include estimates based on projected
quantities of material and/or services that are provided on demand, the timing of which cannot be determined. Because payment timing cannot be
determined, we include all open purchase order amounts in 2014.
(h) These amounts represent NU's estimated minimum pension contributions to its qualified Pension Plans required under federal legislation.
Contributions in 2015 through 2018 and thereafter will vary depending on many factors, including the performance of existing plan assets, valuation
of the plan's liabilities and long-term discount rates, and are subject to change.
(i) Excludes other long-term liabilities, including the unrecognized tax benefits described above, deferred contractual obligations, environmental
reserves, employee medical insurance and other reserves ($26.7 million at NU and $13.5 million at CL&P), workers compensation and long-term
disability insurance reserves ($43.3 million at NU and $21.5 million at CL&P) and the ARO liability reserves as we cannot make reasonable
estimates of the timing of payments.
For further information regarding our contractual obligations and commercial commitments, see Note 8, "Short-Term Debt," Note 9,
"Long-Term Debt," Note 10A, "Employee Benefits - Pension Benefits and Postretirement Benefits Other Than Pensions," Note 12B,
"Commitments and Contingencies - Long-Term Contractual Arrangements," and Note 13, "Leases," to the financial statements.