Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 320

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 320
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 value can be reasonably estimated, even if it is conditional on a future event.  Settlement dates and future costs are reasonably estimated when sufficient information becomes available.  Management has identified various categories of AROs, primarily CYAPC's and YAEC's obligation to dispose of spent nuclear fuel and high level waste, and also certain assets containing asbestos and hazardous contamination.  Management has performed fair value calculations reflecting expected probabilities for settlement scenarios.The fair value of an ARO is recorded as a long-term liability with a corresponding amount included in Property, Plant and Equipment, Net on the balance sheets.  The ARO assets are depreciated, and the ARO liabilities are accreted over the estimated life of the obligation and the corresponding credits are recorded as accumulated depreciation and ARO liabilities, respectively.  As the electric and natural gas companies are rate-regulated on a cost-of-service basis, these companies apply regulatory accounting guidance and both the depreciation and accretion costs associated with these companies' AROs are recorded as increases to Regulatory Assets on the balance sheets.  

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A reconciliation of the beginning and ending carrying amounts of ARO liabilities is as follows: As of December 31, 20242023(Millions of Dollars)EversourceCL&PNSTARElectricPSNHEversourceCL&PNSTARElectricPSNHBalance as of Beginning of Year$505.8 $39.9 $104.8 $5.2 $502.7 $37.4 $101.3 $4.9 Liabilities Settled During the Year(24.6)— — — (24.9)— — — Accretion29.5 2.6 4.5 0.4 29.2 2.5 4.3 0.3 Revisions in Estimated Cash Flows80.2 — — — (1.2)— (0.8)— Balance as of End of Year$590.9 $42.5 $109.3 $5.6 $505.8 $39.9 $104.8 $5.2 Eversource's amounts include CYAPC and YAEC's AROs of $391.7 million and $315.8 million as of December 31, 2024 and 2023, respectively.  The fair value of the A