Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 404

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 404
---
 Liabilities Held for Sale$52.6 Regulatory Liabilities$132.2 Other Long-Term Liabilities266.7    Total Long-Term Liabilities Held for Sale$398.9 

For the years ended December 31, 2024, 2023 and 2022, pre-tax income associated with the held for sale water distribution business (excluding the goodwill impairment recognized in 2024) was $43.1 million, $26.8 million and $33.6 million, respectively. 

143

25.    GOODWILL

In a business combination, the excess of the purchase price over the estimated fair values of the assets acquired and liabilities assumed is recognized as goodwill.  The following table presents Eversource’s goodwill by reportable segment:(Millions of Dollars)ElectricDistributionElectricTransmissionNatural GasDistributionWater DistributionTotalBalance as of January 1, 2023$2,543.6 $576.8 $451.0 $951.2 $4,522.6 Water Acquisitions— — — 9.5 9.5 Balance as of December 31, 2023$2,543.6 $576.8 $451.0 $960.7 $4,532.1 Water Sale and Acquisition, net— — — (1.2)(1.2)Water Goodwill Impairment— — — (297.0)(297.0)Water Goodwill Reclassified as Held for Sale— — — (662.5)(662.5)Balance as of December 31, 2024$2,543.6 $576.8 $451.0 $— $3,571.4 In 2023, Eversource completed two water acquisitions resulting in the addition of $9.5 million of goodwill.  In 2024, Eversource completed the sale of its unregulated water business resulting in a reduction to goodwill of $5.4 million and completed a water acquisition resulting in the addition of $4.2 million of goodwill. Goodwill is not amortized but is subject to an assessment for impairment at least annually and more frequently if indicators of impairment arise that would more likely than not reduce the fair value of Eversource’s reporting units below their carrying amounts.  Eversource's reporting units for the purpose of testing goodwill