Company: CNLHP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000072741-25-000011
Chunk: 103

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 8
Chunk 103
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, 2025, compared with $26.7 million as of December 31, 2024.  Our available borrowing capacity under our commercial paper programs totaled $1.16 billion as of March 31, 2025.  

•In the first quarter of 2025, we issued $1.20 billion of new long-term debt and we repaid $300 million of long-term debt.

•On May 1, 2025, our Board of Trustees approved a common share dividend payment of $0.7525 per share, payable on June 30, 2025 to shareholders of record as of May 15, 2025.  On January 29, 2025, our Board of Trustees approved a common share dividend payment of $0.7525 per share, paid on March 31, 2025 to shareholders of record as of March 4, 2025.

Strategic Developments:

•On January 27, 2025, Eversource entered into a definitive agreement to sell the Aquarion water distribution business.  Subject to certain closing adjustments, the aggregate enterprise value of the sale is approximately $2.4 billion in cash, which includes approximately $1.6 billion for the equity and $800 million of net debt that will be extinguished at closing.  The sale is subject to regulatory and other approvals and is expected to close in late 2025.  Eversource plans to use the net proceeds from the pending sale to pay down parent company debt.

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Earnings Overview

Consolidated:  Below is a summary of our earnings by business, which also reconciles the non-GAAP financial measure of EPS by business to the most directly comparable GAAP measure of diluted EPS.

 For the Three Months Ended March 31,20252024(Millions of Dollars, Except Per Share Amounts)AmountPer ShareAmountPer ShareRegulated Companies$609.8 $1.66 $540.8 $1.53 Eversource Parent and Other Companies(59.0)(0.16)(19.0)(0.04)Net Income Attributable to Common Shareholders$550.8 $1.50 $521.8 $1.49 

The impact of higher shares outstanding resulted in $0.07 earnings per share dilution in the first quarter of 2025, as compared to the first quarter of 2024.

Regulated Companies: