Eversource 2008 Annual Report Download - page 17

Download and view the complete annual report

Please find page 17 of the 2008 Eversource annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 94

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94

16
2008 FINANCIAL INFORMATION
MANAGEMENT’S DISCUSSION AND ANALYSIS 17
Management discusses in detail the financial results and condition
of the company, providing investors with an opportunity to view
the company through the eyes of management.
COMPANY REPORT ON INTERNAL CONTROLS
OVER FINANCIAL REPORTING 45
Management accepts responsibility for the preparation, integrity,
and fair presentation of the accompanying consolidated financial
statements and concludes that the internal controls over financial
reporting were effective as of December 31, 2008.
REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM 46
The report of Deloitte & Touche LLP
CONSOLIDATED BALANCE SHEETS 47
The company’s total assets were $14 billion at December 31, 2008.
CONSOLIDATED STATEMENTS OF INCOME AND
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 48-49
The company’s net income for 2008 was $260.8 million while
comprehensive income for 2008 was $214.2 million.
CONSOLIDATED STATEMENTS OF COMMON
SHAREHOLDERS’ EQUITY 50
In 2008, the company declared $129 million in common
dividends, and common shareholders’ equity totaled $3 billion
at December 31, 2008.
CONSOLIDATED STATEMENTS OF CASH FLOWS 51
The company’s cash and cash equivalents at December 31, 2008,
were $89.8 million, an increase of $74.7 million from a year earlier,
while the company’s operating cash flows totaled $649.4 million
in 2008.
CONSOLIDATED STATEMENTS OF CAPITALIZATION 52
At December 31, 2008, the company’s total capitalization was
$7.2 billion, which included $4.1 billion in long-term debt,
$116.2 million in non-redeemable preferred stock and $3 billion
in common shareholders’ equity.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 52
The company explains in detail the events, actions, projects,
processes and judgments that produced the amounts reflected
in the accompanying consolidated financial statements.
TRUSTEES AND OFFICERS 89
A listing of the company’s Trustees and Officers
SHAREHOLDER INFORMATION 90
Summarized shareholder information