Eversource 2010 Annual Report Download - page 90

73
Q. Other Taxes
Certain excise taxes levied by state or local governments are collected by CL&P and Yankee Gas from their respective customers.
These excise taxes are shown on a gross basis with collections in revenues and payments in expenses. Gross receipts taxes,
franchise taxes and other excise taxes were included in Operating Revenues and Taxes Other Than Income Taxes on the
accompanying consolidated statements of income as follows:
For the Years Ended December 31,
(Millions of Dollars) 2010 2009 2008
NU $ 143.7 $ 135.6 $ 126.6
CL&P 128.0 119.0 107.2
Certain sales taxes are also collected by CL&P, WMECO, and Yankee Gas from their respective customers as agents for state and
local governments and are recorded on a net basis with no impact on the accompanying consolidated statements of income.
R. Supplemental Cash Flow Information
For the Years Ended December 31,
2010 2009 2008
(Millions of Dollars) NU NU NU
Cash Paid/(Received) During the Year for:
Interest, Net of Amounts Capitalized $ 258.3 $ 263.8 $ 261.4
Income Taxes 84.5 35.1 (36.1)
Non-Cash Investing Activities:
Capital Expenditures Incurred But Not Paid 127.9 125.5 132.8
For the Years Ended December 31,
2010 2009 2008
CL&P PSNH WMECO CL&P PSNH WMECO CL&P PSNH WMECO
(Millions of Dollars)
Cash Paid/(Received) During the Year for:
Interest, Net of Amounts Capitalized $ 142.2 $ 51.4 $ 20.2 $ 146.7 $ 49.0 $ 19.4 $ 145.5 $ 50.0 $ 20.0
Income Taxes 71.5 1.6 5.0 42.4 12.8 (9.1) (20.6) 1.0 (5.9)
Non-Cash Investing Activities:
Capital Expenditures Incurred But Not Paid 46.2 35.8 21.2 48.2 46.5 10.3 76.1 31.4 11.5
Regulatory Overrecoveries/(Refunds and Underrecoveries) on the accompanying consolidated statements of cash flows represents the
year-over-year change in regulatory assets and regulatory liabilities, net of amortization charged during the year and other adjustments
for non-cash items. These deferred amounts are expected to be recovered from or refunded to customers through the rate-making
process and are generally short-term in nature.
The majority of the short-term borrowings of NU, including CL&P, PSNH and WMECO, have original maturities of three months or less.
Accordingly, borrowings and repayments are shown net on the statement of cash flows. In December 2008, NU borrowed $127 million
under its revolving credit agreement that had original maturities in excess of 90 days. These amounts were repaid in March 2009 and
are included in the net activity in the statement of cash flows. In 2010, 2009 and 2008, NU, CL&P, PSNH and WMECO had no other
such borrowings.
S. Self-Insurance Accruals
NU, including CL&P, PSNH and WMECO, are self-insured for employee medical coverage, long-term disability coverage and general
liability coverage and up to certain limits for workers compensation coverage. Liabilities for insurance claims include accruals of
estimated settlements for known claims, as well as accruals of estimates of incurred but not reported claims. These accruals are
included in Other Long-Term Liabilities on the accompanying consolidated balance sheets. In estimating these costs, NU considers
historical loss experience and makes judgments about the expected levels of costs per claim. These claims are accounted for based
on estimates of the undiscounted claims, including those claims incurred but not reported.
T. Related Parties
Several wholly-owned subsidiaries of NU provide support services for NU, including CL&P, PSNH and WMECO. NUSCO provides
centralized accounting, administrative, engineering, financial, information technology, legal, operational, planning, purchasing, and
other services to NU's companies. RRR and Properties, Inc., two other NU subsidiaries, construct, acquire or lease some of the
property and facilities used by NU's companies.
As of both December 31, 2010 and 2009, CL&P, PSNH and WMECO had long-term receivables from NUSCO in the amount of $25
million, $3.8 million and $5.5 million, respectively, which are included in Other Long-Term Assets on the accompanying consolidated
balance sheets related to the funding of investments held in trust by NUSCO in connection with certain postretirement benefits for
CL&P, PSNH and WMECO employees. These amounts have been eliminated in consolidation on the NU financial statements.
Included in the CL&P, PSNH and WMECO consolidated balance sheets as of December 31, 2010 and 2009 are Accounts Receivable
from Affiliated Companies and Accounts Payable to Affiliated Companies relating to transactions between CL&P, PSNH and WMECO
and other subsidiaries that are wholly-owned by NU. As of December 31, 2010 and 2009, CL&P, PSNH and WMECO had a de minimis