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49
Taxes Other Than Income Taxes increased in 2013, as compared to 2012, due primarily to the addition of NSTAR's operations ($37.8 million). In
addition, there was an increase in property taxes ($36.6 million) as a result of an increase in Property, Plant and Equipment and an increase in the
property tax rates, and an increase in the Connecticut gross earnings tax ($9.1 million) attributable to an increase in gross earnings.
Interest Expense increased $8.8 million in 2013, as compared to 2012, due primarily to the addition of NSTAR's operations ($22 million) and lower
interest income on deferred transition costs ($10.6 million), partially offset by a decrease in Other Interest due primarily to the favorable impact from
the resolution of a state income tax audit in the first quarter of 2013, lower interest on short-term debt ($8.8 million) and lower interest on RRBs
($6.1 million).
Other Income, Net increased $10.2 million in 2013, as compared to 2012, due primarily to higher gains on the NU supplemental benefit trust ($6
million) and an increase related to officer insurance policies ($1.7 million).
Income Tax Expense
For the Years Ended December 31,
 2013 2012
(a)
Increase Percent
Income Tax Expense $426.9 $274.9 $152.0 55.3 %
(a) The 2012 results include the operations of NSTAR beginning April 10, 2012.
Income Tax Expense increased in 2013, as compared to 2012, due primarily to higher pre-tax earnings ($81 million), the absence in 2013 of both
prior year Connecticut and Massachusetts merger settlement agreement impacts ($41 million) and integration merger impacts ($23 million), along
with various other items ($7 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 2014 filed with the SEC on a combined basis with NU on February 25, 2015. Such report is also available
at the Investors section at www.eversource.com.