Eversource 2014 Annual Report Download - page 114

102
NU's segment information is as follows:
For the Year Ended December 31, 2014
Electric Natural Gas
 Distribution Distribution Transmission Other Eliminations Total
Operating Revenues $5,663.4 $1,007.3 $1,018.2 $790.9 $
(737.9)
$7,741.9
Depreciation and Amortization
(384.6)
(68.1)
(150.5)
(42.1) 19.9 (625.4)
Other Operating Expenses
(4,366.2)
(786.7)
(302.1)
(748.0) 719.3 (5,483.7)
Operating Income 912.6 152.5 565.6 0.8 1.3 1,632.8
Interest Expense
(191.6)
(34.0)
(104.1)
(36.6) 4.2 (362.1)
Interest Income 5.1 -0.9 3.6
(3.6)
6.0
Other Income, Net 10.7 0.2 10.3 916.0
(918.6)
18.6
Income Tax (Expense)/Benefit
(269.7)
(46.4)
(174.5)
22.3 - (468.3)
Net Income
467.1 72.3 298.2 906.1
(916.7)
827.0
Net Income Attributable
to Noncontrolling Interests
(4.7)
-
(2.8)
- - (7.5)
Net Income Attributable
to Controlling Interest $462.4 $72.3 $295.4 $906.1 $
(916.7)
$819.5
Total Assets (as of) $17,563.4 $3,030.9 $7,625.6 $12,682.5 $
(11,124.4)
$29,778.0
Cash Flows Used for
Investments in Plant $645.2 $176.7 $731.6 $50.2 $ - $ 1,603.7
For the Year Ended December 31, 2013
Electric Natural Gas
 Distribution Distribution Transmission Other Eliminations Total
Operating Revenues $5,362.3 $855.8 $978.7 $777.5 $
(673.1)
$7,301.2
Depreciation and Amortization
(604.8)
(66.7)
(136.2)
(62.2) 10.2 (859.7)
Other Operating Expenses
(3,927.7)
(659.4)
(281.8)
(715.0) 671.8 (4,912.1)
Operating Income 829.8 129.7 560.7 0.3 8.9 1,529.4
Interest Expense
(175.0)
(33.1)
(100.3)
(35.5) 5.2 (338.7)
Interest Income 4.1 -0.7 5.4
(5.6)
4.6
Other Income, Net 12.9 0.8 10.9 858.9
(858.2)
25.3
Income Tax (Expense)/Benefit
(240.0)
(36.5)
(182.1)
31.9
(0.2)
(426.9)
Net Income
431.8 60.9 289.9 861.0
(849.9)
793.7
Net Income Attributable
to Noncontrolling Interests
(4.8)
-
(2.9)
- - (7.7)
Net Income Attributable
to Controlling Interest $427.0 $60.9 $287.0 $861.0 $
(849.9)
$786.0
Total Assets (as of) $17,260.0 $2,759.7 $6,745.8 $11,842.4 $
(10,812.4)
$27,795.5
Cash Flows Used for
Investments in Plant $639.0 $168.1 $618.5 $31.2 $ - $ 1,456.8
For the Year Ended December 31, 2012
Electric Natural Gas
 Distribution Distribution Transmission Other Eliminations Total
Operating Revenues $4,716.5 $ 572.9 $861.5 $803.8 $
(680.9)
$6,273.8
Depreciation and Amortization
(530.3)
(49.1)
(109.2)
(56.4) 4.2 (740.8)
Other Operating Expenses
(3,585.4)
(445.2)
(251.6)
(817.0) 684.4 (4,414.8)
Operating Income/(Loss) 600.8 78.6 500.7 (69.6) 7.7 1,118.2
Interest Expense
(165.6)
(31.3)
(96.7)
(43.6) 7.3 (329.9)
Interest Income 2.8 -0.4 7.1
(7.1)
3.2
Other Income, Net 8.9 0.4 7.3 795.0
(795.1)
16.5
Income Tax (Expense)/Benefit
(150.2)
(16.9)
(159.2)
55.5
(4.1)
(274.9)
Net Income
296.7 30.8 252.5 744.4
(791.3)
533.1
Net Income Attributable
to Noncontrolling Interests
(4.4)
-
(2.8)
- - (7.2)
Net Income Attributable
to Controlling Interest $292.3 $30.8 $249.7 $744.4 $
(791.3)
$ 525.9
Cash Flows Used for
Investments in Plant $611.7 $148.7 $663.6 $48.3 $ - $ 1,472.3
21. MERGER OF NU AND NSTAR
On April 10, 2012, NU acquired 100 percent of the outstanding common shares of NSTAR. Pursuant to the terms and conditions of the Agreement
and Plan of Merger, as amended, (the "Merger Agreement,") NSTAR and its subsidiaries became wholly-owned subsidiaries of NU.
NSTAR was a holding company engaged through its subsidiaries in the energy delivery business serving electric and natural gas distribution
customers in Massachusetts. As part of the merger, NSTAR shareholders received 1.312 NU common shares for each NSTAR common share owned
(the "exchange ratio") as of the acquisition date. NU issued approximately 136 million common shares to the NSTAR shareholders as a result of the
merger.