Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 352

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 352
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 NSTAR Electric.An income tax rate of 26 percent was used to estimate the tax effect on total share-based payments determined under the fair-value based method for all awards.  The Company issues treasury shares to settle fully vested RSUs and performance shares under the Company's incentive plans.For the years ended December 31, 2024 and 2023, a tax deficiency associated with the distribution of stock compensation awards increased income tax expense by $2.3 million and $0.5 million, respectively, which decreased cash flows from operating activities on the statements of cash flows.  For the year ended December 31, 2022, excess tax benefits associated with the distribution of stock compensation awards reduced income tax expense by $2.1 million, which increased cash flows from operating activities on the statements of cash flows.

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D.     Other Retirement Benefits

Eversource provides retirement and other benefits for certain current and past company officers.  These benefits are accounted for on an accrual basis and expensed over a period equal to the service lives of the employees.  The actuarially-determined liability for these benefits is included in Other Current and Long-Term Liabilities on the balance sheets.  The related expense, which includes the allocation of expense associated with Eversource's service company officers that support CL&P, NSTAR Electric and PSNH, is included in Operations and Maintenance Expense on the income statements.  The liability and expense amounts are as follows:Eversource(Millions of Dollars)As of and For the Years Ended December 31,202420232022Actuarially-Determined Liability$30.2 $32.6 $43.4 Other Retirement Benefits Expense (1)2.4 2.6 10.9 As of and For the Years Ended December 31, 202420232022(Millions of Dollars)CL&PNSTAR ElectricPSNHCL&PNSTAR ElectricPSNHCL&PNSTAR ElectricPSNHActuarially-Determined Liability0.1$— $1.0 $0.2 $— $1.1 $0.2 $0.1 $1.3 Other Retirement Benefits Expense (1)0.8 0.8 0.3 0.8 0.8 0.4 4.0 3.7 1.3 (1)    Other Retirement Benefits Expense in 2022 includes a one-time special retirement benefit