Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 168

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 168
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16)8.4 0.03 (40.5)(0.12)Non-GAAP Earnings$1,634.0 $4.57 $1,517.7 $4.34 $1,419.9 $4.09 Losses on Offshore Wind Investments (after-tax) (1)(524.0)(1.47)(1,953.0)(5.58)— — Loss on Pending Sale of Aquarion (after-tax) (2)(298.3)(0.83)— — — — Land Abandonment Loss and Other Charges (after-tax) (3)— — (6.9)(0.02)— — Transaction and Transition Costs (after-tax) (4)— — — — (15.0)(0.04)Net Income/(Loss) Attributable to Common Shareholders (GAAP)$811.7 $2.27 $(442.2)$(1.26)$1,404.9 $4.05 

(1)    In 2024, we recorded a loss on the sales of our offshore wind equity method investments.  In 2023, we recorded impairment charges resulting from the expected sales of these offshore wind investments.  For further information, see "Business Development and Capital Expenditures – Offshore Wind Business" included in this Management's Discussion and Analysis of Financial Condition and Results of Operations.

(2)    The 2024 loss includes an impairment charge of $297 million to write down the carrying value of the water business to fair value resulting from the expected sale of Aquarion, as well as transaction costs.  For further information, see "Business Development and Capital Expenditures – Pending Sale of Aquarion" included in this Management's Discussion and Analysis of Financial Condition and Results of Operations.

(3)    The 2023 charges primarily include a loss on the disposition of abandoned land intended to be used for the cancelled Northern Pass Transmission project.

(4)    Transaction costs in 2022 primarily include costs associated with the transition of systems as a result of our purchase of the assets of Columbia Gas of Massachusetts (CMA) on October 9, 2020 and integrating the CMA assets onto Eversource’s systems.

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Regulated Companies:  Our regulated companies comprise the electric distribution, electric transmission, natural gas distribution, and water