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125
19.
COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (NU)
A summary of the changes in Common Shareholders' Equity and Noncontrolling Interests of NU is as follows:
Noncontrolling
Common Interest -
Shareholders'
Noncontrolling Total Preferred Stock
(Millions of Dollars)
Equity
Interest
Equity
of Subsidiaries
Balance as of January 1, 2010
$
3,577.9
$
-
$
3,577.9
$
116.2
Net Income
394.1
-
394.1
-
Dividends on Common Shares
(181.7)
-
(181.7)
-
Dividends on Preferred Stock
(6.1)
-
(6.1)
(6.1)
Issuance of Common Shares 7.4
-
7.4
-
Contributions to NPT
-
1.4
1.4
-
Other Transactions, Net
19.6
-
19.6
-
Net Income Attributable to Noncontrolling Interests
(0.1)
0.1
-
6.1
Other Comprehensive Income (Note 15)
0.1
-
0.1
-
Balance as of December 31, 2010
$
3,811.2
$
1.5
$
3,812.7
$
116.2
Net Income
400.5
-
400.5
-
Dividends on Common Shares (195.6)
-
(195.6)
-
Dividends on Preferred Stock
(5.6)
-
(5.6)
(5.6)
Issuance of Common Shares
5.9
-
5.9
-
Contributions to NPT
-
1.2
1.2
-
Other Transactions, Net
23.9
-
23.9
-
Net Income Attributable to Noncontrolling Interests (0.3)
0.3
-
5.6
Other Comprehensive Loss (Note 15)
(27.3)
-
(27.3)
-
Balance as of December 31, 2011
$
4,012.7
$ 3.0
$ 4,015.7
$ 116.2
Net Income
533.1
-
533.1
-
Purchase Price of NSTAR (1)
5,038.3
-
5,038.3
-
Other Equity Impacts of Merger with NSTAR (2)
3.4
(3.4)
-
39.4
Dividends on Common Shares
(375.5)
-
(375.5)
-
Dividends on Preferred Stock
(7.0)
-
(7.0)
(7.0)
Issuance of Common Shares 13.3
-
13.3
-
Contributions to NPT
-
0.3
0.3
-
Other Transactions, Net
21.1
-
21.1
-
Net Income Attributable to Noncontrolling Interests
(0.1)
0.1
-
7.0
Other Comprehensive Loss (Note 15)
(2.2)
-
(2.2)
-
Balance as of December 31, 2012
$
9,237.1
$
-
$
9,237.1
$
155.6
(1) On April 10, 2012, in connection with the consummation of the merger with NSTAR, NU issued approximately 136 million common
shares to the NSTAR shareholders. See Note 2, "Merger of NU and NSTAR," for further information.
(2) The preferred stock of NSTAR Electric is not subject to mandatory redemption and has been presented as a noncontrolling interest
in NSTAR Electric in the accompanying consolidated financial statements of NU. In addition, upon completion of the merger, an
NSTAR subsidiary that held 25 percent of NPT was merged into NUTV, resulting in NUTV owning 100 percent of NPT.
Accordingly, the noncontrolling interest balance was eliminated and 100 percent ownership of NPT is reflected in Common
Shareholders' Equity as of December 31, 2012.
For the years ended December 31, 2012, 2011 and 2010, there was no change in ownership of the common equity of CL&P and
NSTAR Electric.
20. EARNINGS PER SHARE (NU)
Basic EPS is computed based upon the weighted average number of common shares outstanding during each period. Diluted EPS is
computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect if certain
securities are converted into common shares. For the years ended December 31, 2012, 2011 and 2010, there were 4,266, 4,314 and
1,578 share awards, respectively, excluded from the computation as these awards were antidilutive.