Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 312

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 312
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 a market approach that incorporates reported trades and benchmark yields.  Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows.

6.     INVESTMENTS IN UNCONSOLIDATED AFFILIATES

Investments in entities that are not consolidated are included in long-term assets on the balance sheets.  Investments in affiliates where Eversource has the ability to exercise significant influence, but not control, over an investee are initially recognized as an equity method investment at cost.  Earnings impacts from these equity investments are included in Other Income, Net on the statements of income.  Eversource's investments accounted for under the equity method include the following: Investment Balance as of December 31,(Millions of Dollars)Ownership Interest20242023Offshore Wind Business50%-100%$22.2 $515.5 Natural Gas Pipeline - Algonquin Gas Transmission, LLC15%112.6 116.0 Other various33.9 29.0 Total Investments in Unconsolidated Affiliates$168.7 $660.5 

104

For the years ended December 31, 2024, 2023 and 2022, Eversource had equity in earnings of unconsolidated affiliates of $51.9 million, $15.5 million, and $22.9 million, respectively.  Eversource received dividends from its equity method investees (excluding proceeds received from sale or liquidation of investments) of $20.5 million, $20.1 million, and $26.2 million, respectively, for the years ended December 31, 2024, 2023 and 2022.Offshore Wind Business:  Eversource’s previous offshore wind business included 50 percent ownership interests in each of North East Offshore and South Fork Class B Member, LLC.  During 2024, Eversource sold its interest in these entities, and in doing so, sold its interests in the Revolution Wind project, the South Fork Wind project, and the Sunrise Wind project.  Eversource’s current offshore wind business is now comprised only of a noncontrolling tax equity investment in South Fork Wind through a 100 percent ownership in South Fork Wind Holdings, LLC Class A interests.   On May 25, 2023, Eversource announced that it had completed a strategic review of its offshore wind investments and determined that it would pursue the sale