Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 181

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 181
---
-term notes payable(0.8)4.3 RRBs(0.4)(1.2)Other0.6 1.5 Total Interest Expense$17.5 $89.4 

Losses on Offshore Wind for the three and nine months ended 2025 relates to the pre-tax charge of $284 million associated with increasing our offshore wind contingent liability for expected future payments under the terms of the 2024 sale agreement with GIP for the South Fork Wind and Revolution Wind projects recorded in the third quarter of 2025.  Losses on Offshore Wind for the three and nine months ended 2024 relates to the loss recorded on the third quarter 2024 sales of our equity method offshore wind investments.  See "Earnings Overview — Offshore Wind Contingent Liability" included in this Management's Discussion and Analysis of Financial Condition and Results of Operations for further information.  

Other Income, Net decreased for the three and nine month periods due primarily to the following:

(Millions of Dollars)Three Months EndedNine Months EndedPension, SERP and PBOP Non-Service Income Components, Net of Deferred Portion$4.0 $14.3 Interest Income (primarily on regulatory deferrals)(9.5)(11.8)Capitalized AFUDC related to equity funds(3.0)(4.0)Equity in Earnings of Unconsolidated Affiliates(12.6)(32.8)Investment Income/(Loss)(0.7)(5.0)Other(5.0)(6.1)Total Other Income, Net$(26.8)$(45.4)

Income Tax Expense decreased for the three month period due primarily to a decrease in reserves ($384.5 million), a decrease in return to provision adjustments ($23.4 million), and a decrease in amortization of EDIT ($4.9 million), partially offset by higher pre-tax earnings ($44.5 million), higher state taxes ($65.6 million), and an increase in items that impact our tax rate as a result of regulatory treatment (flow-through items) and permanent differences ($29.1 million).

Income Tax Expense decreased for the nine month period due primarily to a decrease in reserves ($384.5 million), a decrease in return to provision adjustments ($23.4 million), and a decrease in amortization of EDIT ($3.9 million), partially offset by higher pre-tax earnings ($55.1 million), higher state taxes ($