Company: CNLHP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000072741-25-000011
Chunk: 56

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 8
Chunk 56
---
, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's and PSNH's financial position as of March 31, 2025 and December 31, 2024, and the results of operations, comprehensive income, common shareholders' equity and cash flows for the three months ended March 31, 2025 and 2024.  The results of operations, comprehensive income and cash flows for the three months ended March 31, 2025 and 2024 are not necessarily indicative of the results expected for a full year.CYAPC and YAEC are inactive regional nuclear power companies engaged in the long-term storage of their spent nuclear fuel.  Eversource consolidates the operations of CYAPC and YAEC because CL&P's, NSTAR Electric's and PSNH's combined ownership and voting interests in each of these entities is greater than 50 percent.  Intercompany transactions between CL&P, NSTAR Electric, PSNH and the CYAPC and YAEC companies have been eliminated in consolidation of the Eversource financial statements.Eversource's utility subsidiaries' electric, natural gas and water distribution and transmission businesses are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries.  See Note 2, "Regulatory Accounting," for further information.Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation.B.     Accounting StandardsAccounting Standards Issued but Not Yet Adopted:  In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures, which requires enhanced income tax disclosures, primarily requiring consistent categories and greater detailed disclosure information in the tax rate reconciliation as well as income taxes paid disaggregated by jurisdiction.  ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted and may be applied on either a prospective or retrospective basis.  Eversource expects to adopt the amendments to this standard prospectively upon effective date and does not expect an impact on the financial statements of Eversource, CL&P, NSTAR Electric and PSNH.C.    Allow