Eversource 2014 Annual Report Download - page 111

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17. PREFERRED STOCK NOT SUBJECT TO MANDATORY REDEMPTION
The CL&P and NSTAR Electric preferred stock is not subject to mandatory redemption and is presented as a noncontrolling interest of a subsidiary
in NU's financial statements.
P P CL&P's charter authorizes it to issue up to 9 million shares of preferred stock ($50 par value per share). The issuance of
additional preferred shares would be subject to PURA approval. Preferred stockholders have liquidation rights equal to the par value of the preferred
stock, which they would receive in preference to any distributions to any junior stock. Were there to be a shortfall, all preferred stockholders would
share ratably in available liquidation assets.
 NSTAR Electric is authorized to issue 2,890,000 shares ($100 par value per share). NSTAR Electric has two
outstanding series of cumulative preferred stock. Upon liquidation, holders of cumulative preferred stock are entitled to receive a liquidation
preference before any distribution to holders of common stock. The liquidation preference for each outstanding series of cumulative preferred stock
is equal to the par value, plus accrued and unpaid dividends. Were there to be a shortfall, holders of cumulative preferred stock would share ratably
in available liquidation assets.
Details of preferred stock not subject to mandatory redemption are as follows (in millions except in redemption price and shares):
Redemption Price Shares Outstanding as of As of December 31,
Series Per Share December 31, 2014 and 2013 2014 2013
CL&P
$1.90 Series of 1947 $52.50 163,912 $8.2 $8.2
$2.00 Series of 1947 $54.00 336,088 16.8 16.8
$2.04 Series of 1949 $52.00 100,000 5.0 5.0
$2.20 Series of 1949 $52.50 200,000 10.0 10.0
3.90 %Series of 1949 $50.50 160,000 8.0 8.0
$2.06 Series E of 1954 $51.00 200,000 10.0 10.0
$2.09 Series F of 1955 $51.00 100,000 5.0 5.0
4.50 %Series of 1956 $50.75 104,000 5.2 5.2
4.96 %Series of 1958 $50.50 100,000 5.0 5.0
4.50 %Series of 1963 $50.50 160,000 8.0 8.0
5.28 %Series of 1967 $51.43 200,000 10.0 10.0
$3.24 Series G of 1968 $51.84 300,000 15.0 15.0
6.56 %Series of 1968 $51.44 200,000 10.0 10.0
Total CL&P 2,324,000 $116.2 $116.2
NSTAR Electric
4.25 %Series $103.625 180,000 $18.0 $18.0
4.78 %Series $102.80 250,000 25.0 25.0
Total NSTAR Electric 430,000 $43.0 $43.0
Fair Value Adjustment due to Merger with NSTAR
(3.6)
(3.6)
Total NU -Preferred Stock of Subsidiaries $155.6 $155.6