Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 277

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 277
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 to customers within Connecticut.  Aquarion is engaged in the collection, treatment and distribution of water in Connecticut, Massachusetts and New Hampshire.  CL&P, NSTAR Electric and PSNH's results include the operations of their respective distribution and transmission businesses.  The distribution business also includes the results of NSTAR Electric's solar power facilities.Eversource Service, Eversource's service company, and several wholly-owned real estate subsidiaries of Eversource, provide support services to Eversource, including its regulated companies.   B.     Basis of PresentationThe consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries.   Intercompany transactions have been eliminated in consolidation.  The accompanying consolidated financial statements of Eversource, NSTAR Electric and PSNH and the financial statements of CL&P are herein collectively referred to as the "financial statements."  The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.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 holds equity ownership interests that are not consolidated and are accounted for under the equity method.  In the third quarter of 2024, Eversource sold its 50 percent equity ownership interests in three offshore wind projects that had been accounted for under the equity method.  See Note 6, “Investments in Unconsolidated Affiliates,” for further information.In accordance with accounting guidance on noncontrolling interests in consolidated financial statements, the Preferred Stock of CL&P and the Preferred Stock of NSTAR Electric, which are not owned by Eversource or its consolidated subsidiaries and are not subject to mandatory redemption, have been presented as noncontrolling interests in the financial statements of Eversource.  The Preferred Stock of CL&P and