Eversource 2008 Annual Report Download - page 48

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47
CONSOLIDATED BALANCE SHEETS
At December 31,
(Thousands of Dollars) 2008 2007
ASSETS
Current Assets:
Cash and cash equivalents $ 89,816 $ 15,104
Investments in securitizable assets (Note 1L) - 308,182
Receivables, less provision for uncollectible
accounts of $43,275 in 2008 and $25,529 in 2007 698,755 401,283
Unbilled revenues 218,440 101,860
Taxes receivable - 13,850
Fuel, materials and supplies 300,049 210,850
Marketable securities - current 78,452 70,816
Derivative assets - current 31,373 105,517
Prepayments and other 88,679 58,794
1,505,564 1,286,256
Property, Plant and Equipment:
Electric utility 9,219,351 7,594,606
Gas utility 1,043,687 977,290
Other 290,156 310,535
10,553,194 8,882,431
Less: Accumulated depreciation: $2,610,479 for
electric and gas utility and $159,639 for other
in 2008; $2,483,570 for electric and gas utility
and $178,193 for other in 2007 2,770,118 2,661,763
7,783,076 6,220,668
Construction work in progress 424,800 1,009,277
8,207,876 7,229,945
Deferred Debits and Other Assets:
Regulatory assets 3,502,606 2,057,083
Goodwill 287,591 287,591
Prepaid pension - 202,512
Marketable securities - long-term 30,757 53,281
Derivative assets - long-term 241,814 298,001
Other 212,272 167,153
4,275,040 3,065,621
Total Assets $ 13,988,480 $ 11,581,822
At December 31,
(Thousands of Dollars) 2008 2007
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes payable to banks $ 618,897 $ 79,000
Long-term debt - current portion 54,286 154,286
Accounts payable 678,614 598,546
Accrued taxes 12,527 -
Accrued interest 69,818 56,592
Derivative liabilities - current 100,919 71,601
Other 168,401 246,125
1,703,462 1,206,150
Rate Reduction Bonds 686,511 917,436
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 1,223,461 1,067,490
Accumulated deferred investment
tax credits 25,371 28,845
Deferred contractual obligations 193,016 222,908
Regulatory liabilities 592,540 851,780
Derivative liabilities - long-term 912,426 208,461
Accrued pension 740,930 -
Accrued postretirement benefits 240,371 181,507
Other 430,718 383,611
4,358,833 2,944,602
Capitalization:
Long-Term Debt 4,103,162 3,483,599
Preferred Stock of Subsidiary - Non-Redeemable 116,200 116,200
Common Shareholders’ Equity:
Common shares, $5 par value - authorized
225,000,000 shares; 176,212,275 shares issued
and 155,834,361 shares outstanding in 2008 and
175,924,694 shares issued and 155,079,770 shares
outstanding in 2007 881,061 879,623
Capital surplus, paid in 1,475,006 1,465,946
Deferred contribution plan - employee stock
ownership plan (15,481 ) (26,352 )
Retained earnings 1,078,594 946,792
Accumulated other comprehensive (loss)/income (37,265 ) 9,359
Treasury stock, 19,708,136 shares
in 2008 and 19,705,545 shares in 2007 (361,603 ) (361,533 )
Common Shareholders’ Equity 3,020,312 2,913,835
Total Capitalization 7,239,674 6,513,634
Commitments and Contingencies (Note 7)
Total Liabilities and Capitalization $ 13,988,480 $ 11,581,822
The accompanying notes are an integral part of these consolidated financial statements.