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80
The gross fair values of derivative assets and liabilities with the same counterparty are offset and reported as net Derivative Assets or
Derivative Liabilities, with appropriate current and long-term portions, in the accompanying consolidated balance sheets. The following
tables present the gross fair values of contracts and the net amounts recorded as current or long-term derivative assets or liabilities, by
primary underlying risk exposures or purpose:
As of December 31, 2010
Derivatives Not Designated as Hedges
(Millions of Dollars)
Commodity
and Capacity
Contracts
Required by
Regulation
Commodity
Sales
Contract and
Related Price
and Supply Risk
Management
Other
Commodity
Price and
Supply Risk
Management
Hedging
Instruments-
Interest
Rate Risk
Management
Collateral
and Netting
Net Amount
Recorded as
Derivative
Asset/(Liability)
Current Derivative Assets:
Level 2:
NU Parent $ - $ - $ - $ 7.7 $ - $ 7.7
Level 3:
NU Enterprises - 1.7 - - - 1.7
CL&P 5.8 - 2.1 - - 7.9
Total Current Derivative Assets $ 5.8 $ 1.7 $ 2.1 $ 7.7 $ - $ 17.3
Long-Term Derivative Assets:
Level 2:
NU Parent $ - $ - $ - $ 4.1 $ - $ 4.1
Level 3:
NU Enterprises - 3.2 - - - 3.2
CL&P
(1)
195.9 - - - (80.0) 115.9
Total Long-Term Derivative Assets $ 195.9 $ 3.2 $ - $ 4.1 $ (80.0) $ 123.2
Current Derivative Liabilities:
Level 2:
PSNH $ - $ - $ (12.8) $ - $ - $ (12.8)
Level 3:
NU Enterprises
(2)
- (11.9) - - 0.5 (11.4)
CL&P
(1)
(54.3) - (0.2) - 7.7 (46.8)
Other - - (0.5) - - (0.5)
Total Current Derivative Liabilities $ (54.3) $ (11.9) $ (13.5) $ - $ 8.2 $ (71.5)
Long-Term Derivative Liabilities:
Level 3:
NU Enterprises
(1)
$ - $ (26.5) $ - $ - $ 0.2 $ (26.3)
CL&P (883.1) - - - - (883.1)
Other - - (0.3) - - (0.3)
Total Long-Term Derivative Liabilities $ (883.1) $ (26.5) $ (0.3) $ - $ 0.2 $ (909.7)