Eversource 2009 Annual Report Download - page 98
Download and view the complete annual report
Please find page 98 of the 2009 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.-
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 -
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
 |
 |
FS-15
THE CONNECTICUT LIGHT AND POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended December 31,
(Thousands of Dollars) 2009 2008 2007
Operating Activities:
Net income $ 216,316 $ 191,158 $ 133,564
Adjustments to reconcile net income to net cash
flows provided by operating activities:
Bad debt expense 15,276 5,951 18,121
Depreciation 186,922 162,636 152,005
Deferred income taxes 52,900 47,653 28,725
Allowance for equity funds used during construction (5,711) (23,212) (14,230)
Pension income and PBOP expense, net of capitalized
portion and PBOP contributions (10,709) (19,257) (10,334)
Regulatory overrecoveries/(refunds and underrecoveries), net 51,292 (153,843) 4,441
Amortization of regulatory assets, net 45,821 164,246 20,593
Amortization of rate reduction bonds 155,938 145,590 135,929
Deferred contractual obligations (19,560) (21,526) (28,019)
Other (13,460) (5,932) (11,544)
Changes in current assets and liabilities:
Receivables and unbilled revenues, net 50,327 (125,241) (44,025)
Investments in securitizable assets - (25,787) 33,531
Materials and supplies (6,339) (15,204) (16,030)
Taxes receivable/accrued 25,823 60,864 (216,714)
Accounts payable (85,773) 28,772 3,457
Other current assets and liabilities 5,718 20,885 10,263
Net cash flows provided by operating activities 664,781 437,753 199,733
Investing Activities:
Investments in property and plant (435,723) (849,549) (826,248)
Increase in NU Money Pool lending (97,775) - -
Rate reduction bond escrow and other deposits 1,368 (2,991) 56,872
Other investing activities 3,520 548 3,784
Net cash flows used in investing activities (528,610) (851,992) (765,592)
Financing Activities:
Cash dividends on common stock (113,848) (106,461) (79,181)
Cash dividends on preferred stock (5,559) (5,559) (5,559)
(Decrease)/increase in short-term debt (187,973) 187,973 -
(Decrease)/increase in NU Money Pool borrowings (102,725) 63,900 (220,100)
Capital contributions from NU parent 147,591 210,000 570,661
Issuance of long-term debt 312,000 300,000 500,000
Reacquisition of long-term debt - (62,000) -
Retirements of rate reduction bonds (182,608) (170,491) (195,213)
Other financing activities (3,004) (3,661) (7,521)
Net cash flows (used in)/provided by financing activities (136,126) 413,701 563,087
Net increase/(decrease) in cash 45 (538) (2,772)
Cash - beginning of year - 538 3,310
Cash - end of year $ 45 $ - $ 538
The accompanying notes are an integral part of these consolidated financial statements.