Eversource 2014 Annual Report Download - page 101

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89
As of December 31,
2014 2013
NSTAR NSTAR
 CL&P Electric PSNH WMECO CL&P Electric PSNH WMECO
Deferred Tax Assets:
Employee Benefits $129.0 $39.9 $46.8 $9.2 $56.0 $38.3 $15.5 $(1.8)
Derivative Liabilities 193.0 1.8 - - 272.4 3.3 - (2.9)
Regulatory Deferrals -Liabilities 73.9 181.3 46.5 11.4 61.5 114.7 40.9 1.0
Allowance for Uncollectible Accounts 32.3 13.8 3.2 3.8 31.2 15.4 3.1 3.3
Tax Effect -Tax Regulatory Liabilities 3.1 1.8 2.1 2.5 4.7 5.4 2.1 1.6
Federal Net Operating Loss Carryforwards -
-
32.1 4.5 51.0 - 56.6 18.6
Other 53.8 19.9 48.9 4.9 75.3 31.3 40.3 8.3
Total Deferred Tax Assets 485.1 258.5 179.6 36.3 552.1 208.4 158.5 28.1
Less: Valuation Allowance 4.0 -
- - 23.1 - - -
Net Deferred Tax Assets
$481.1 $258.5 $179.6 $36.3 $529.0 $208.4 $158.5 $28.1
Deferred Tax Liabilities:
Accelerated Depreciation and Other
Plant-Related Differences $1,378.6 $1,296.9 $596.6 $385.8 $1,238.1 $1,179.4 $526.6 $361.1
Property Tax Accruals 58.1 25.0 7.4 12.8 49.3 25.3 7.1 5.9
Regulatory Amounts:
Regulatory Deferrals -Assets 502.3 276.0 147.6 60.4 550.4 276.2 109.3 49.3
Tax Effect -Tax Regulatory Assets 166.9 35.5 15.9 9.3 160.1 36.0 16.3 18.2
Goodwill Regulatory Asset -1999 Merger -
174.4 - - - 181.6 - -
Derivative Assets 32.6 -
- - 29.0 0.5 - -
Other 19.4 33.5 35.6 2.8 20.6 26.4 28.0 3.6
Total Deferred Tax Liabilities $2,157.9 $1,841.3 $803.1 $471.1 $2,047.5 $1,725.4 $687.3 $438.1
 The following tables provide the amounts and expiration dates of state tax credit and loss carryforwards and federal tax credit and
net operating loss carryforwards:
As of December 31, 2014
NSTAR
 NU CL&P Electric PSNH WMECO Expiration Range
Federal Net Operating Loss $168.8 $ -
$ - $91.8 $12.7 2031 -2032
Federal Tax Credit 16.3 0.1 0.2 11.1 - 2031 -2034
Federal Charitable Contribution 19.4 -
- -
- 2016 -2018
State Tax Credit 99.7 71.0 - -
- 2014 -2019
State Loss Carryforwards 40.6 -
- -
- 2014 -2034
State Charitable Contribution 2.1 -
- -
- 2015 -2018
As of December 31, 2013
NSTAR
 NU CL&P Electric PSNH WMECO Expiration Range
Federal Net Operating Loss $451.3 $145.8 $ - $161.8 $53.3 2031 -2032
Federal Tax Credit 8.0 -
- 7.6 - 2031 -2033
Federal Charitable Contribution 33.7 -
- -
- 2015 -2017
State Tax Credit 104.7 86.8 - -
- 2013 -2018
State Loss Carryforwards 12.1 -
- -
- 2013 -2015
State Charitable Contribution 1.0 -
- -
- 2015
In 2014, the Company recorded a reduction to its state credit carryforwards of $11 million (CL&P $10.1 million), net of tax, as a result of an update
to reflect the amounts expired. Further, the Company decreased its valuation allowance reserve for state credits by $19.2 million at CL&P, net of tax,
to reflect an update for expired state credits and latest estimate of usage.
For 2014, state credit and state loss carryforwards have been partially reserved by a valuation allowance of $4.4 million (net of federal income tax).
For 2013, state credit and state loss carryforwards have been partially reserved by a valuation allowance of $23.7 million (net of federal income tax).