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59
Interest Expense increased in 2011, as compared to 2010, due primarily to higher Other Interest in 2011, as compared to 2010, due to
the prior year inclusion of a tax-related benefit, partially offset by lower Interest on RRBs in 2011, as compared to 2010, resulting from
the maturity of CL&P’s RRBs in December 2010 and lower principal balances on the remaining PSNH and WMECO RRBs outstanding.
Other Income, Net
For the Years Ended December 31,
(Millions of Dollars)
2011
2010
Decrease
Percent
Other Income, Net
$
27.7
$
41.9
$
(14.2)
(33.9)
%
Other Income, Net decreased in 2011, as compared to 2010, due primarily to net losses on the NU supplemental benefit trust in 2011,
compared to net gains in 2010, and the 2011 classification of C&LM and Energy Independence Act incentives; partially offset by higher
AFUDC related to equity funds.
Income Tax Expense
For the Years Ended December 31,
(Millions of Dollars)
2011
2010
Decrease
Percent
Income Tax Expense
$
171.0
$
210.4
$
(39.4)
(18.7)
%
Income Tax Expense decreased in 2011, as compared to 2010, due primarily to the absence in 2011 of the impact from the 2010
Healthcare Act ($25.2 million), adjustments for prior year's taxes including adjustments to reconcile estimated taxes accrued to actual
amounts reflected in our filed tax returns (return to provision adjustments) ($16.3 million), lower flow-through items ($4.6 million) and
lower pre-tax earnings ($2.1 million); partially offset by higher state income taxes ($9.6 million).
Results of Operations for each of CL&P, NSTAR Electric, PSNH and WMECO have been omitted from this report but are set
forth in the Annual Report on Form 10-K for 2012 filed with the SEC on a combined basis with NU on February 28, 2013. Such
report is also available at the Investors section at www.nu.com.