Eversource 2010 Annual Report Download - page 132

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15. PREFERRED STOCK NOT SUBJECT TO MANDATORY REDEMPTION (CL&P)
CL&P's charter authorizes it to issue up to 9 million shares of preferred stock ($50 par value per share) of which 2,324,000 shares were
outstanding as of December 31, 2010 and 2009. In addition, CL&P's charter authorizes it to issue up to 8 million shares of Class A
preferred stock ($25 par value per share). There were no Class A preferred shares outstanding as of December 31, 2010 and 2009.
The issuance of additional preferred shares would be subject to approval by the DPUC.
Preferred stockholders have liquidation rights equal to the par value for each class, which they would receive in preference to any
distributions to any junior stock. Were there to be a shortfall, all preferred stockholders would share ratably in available liquidation
assets. Details of preferred stock not subject to mandatory redemption are as follows (in millions except in redemption price and
shares):
Description
December 31, 2010
Redemption Price
Shares Outstanding as of
December 31, 2010 and 2009
As of December 31,
2010 2009
$1.90 Series of 1947 $ 52.50 163,912 $ 8.2 $ 8.2
$2.00 Series of 1947 $ 54.00 336,088 16.8 16.8
$2.04 Series of 1949 $ 52.00 100,000 5.0 5.0
$2.20 Series of 1949 $ 52.50 200,000 10.0 10.0
3.90% Series of 1949 $ 50.50 160,000 8.0 8.0
$2.06 Series E of 1954 $ 51.00 200,000 10.0 10.0
$2.09 Series F of 1955 $ 51.00 100,000 5.0 5.0
4.50% Series of 1956 $ 50.75 104,000 5.2 5.2
4.96% Series of 1958 $ 50.50 100,000 5.0 5.0
4.50% Series of 1963 $ 50.50 160,000 8.0 8.0
5.28% Series of 1967 $ 51.43 200,000 10.0 10.0
$3.24 Series G of 1968 $ 51.84 300,000 15.0 15.0
6.56% Series of 1968 $ 51.44 200,000 10.0 10.0
Totals 2,324,000 $ 116.2 $ 116.2
Dividends totaling $6.1 million for 2010 and $5.6 million for 2009 and 2008 were declared and dividends of $5.6 million were paid to the
preferred stockholders in 2010, 2009 and 2008.
16. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)
The accumulated balance for each component of other comprehensive income/(loss), net of tax, is as follows:
(Millions of Dollars)
NU
December 31,
2008
2009
Change
December 31,
2009
2010
Change
December 31,
2010
Qualified Cash Flow Hedging Instruments $ (4.6) $ 0.2 $ (4.4) $ 0.2 $ (4.2)
Unrealized Gains/(Losses) on Other Securities 1.2 (1.0) 0.2 0.4 0.6
Pension, SERP and PBOP Benefits (33.9) (5.4) (39.3) (0.5) (39.8)
A
ccumulated Other Comprehensive Income/(Loss) $ (37.3) $ (6.2) $ (43.5) $ 0.1 $ (43.4)
CL&P
Qualified Cash Flow Hedging Instruments $ (3.6) $ 0.4 $ (3.2) $ 0.5 $ (2.7)
Unrealized Gains/(Losses) on Other Securities - - - - -
A
ccumulated Other Comprehensive Income/(Loss) $ (3.6) $ 0.4 $ (3.2) $ 0.5 $ (2.7)
PSNH
Qualified Cash Flow Hedging Instruments $ (0.8) $ 0.1 $ (0.7) $ 0.1 $ (0.6)
Unrealized Gains/(Losses) on Other Securities 0.1 (0.1) - - -
A
ccumulated Other Comprehensive Income/(Loss) $ (0.7) $ - $ (0.7) $ 0.1 $ (0.6)
WMECO
Qualified Cash Flow Hedging Instruments $ 0.1 $ (0.1) $ - $ (0.1) $ (0.1)
Unrealized Gains/(Losses) on Other Securities 0.1 (0.1) - - -
A
ccumulated Other Comprehensive Income/(Loss) $ 0.2 $ (0.2) $ - $ (0.1) $ (0.1)
Qualified cash flow hedging items impacting Net Income in the tables above represent amounts that were reclassified from
Accumulated Other Comprehensive Income/(Loss) into Net Income in connection with the consummation of interest rate swap
agreements and the amortization of existing interest rate hedges.