$CNLHO

CONNECTICUT LIGHT & POWER CO

CIK:0000023426|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Operating Revenues	$ 2,903,189	$ 2,838,068	$ 7,407,552	$ 6,956,423
Operating Expenses:
Purchased Power, Purchased Natural Gas and Transmission	939,514	818,747	2,457,688	2,159,084
Operations and Maintenance	480,441	467,557	987,420	955,008
Depreciation	423,914	385,595	844,396	765,175
Amortization	(44,323)	109,103	358,441	564,552
Energy Efficiency Programs	173,231	135,290	464,730	392,840
Taxes Other Than Income Taxes	278,178	258,727	566,495	530,321
Sale of Aquarion	111,360	0	111,360	0
Total Operating Expenses	2,362,315	2,175,019	5,790,530	5,366,980
Operating Income	540,874	663,049	1,617,022	1,589,443
Interest Expense	355,490	293,193	720,749	594,042
Loss on Offshore Wind	194,000	0	194,000	0
Other Income, Net	144,033	95,363	245,192	187,706
Income Before Income Tax Expense	135,417	465,219	947,465	1,183,107
Income Tax Expense	79,857	110,611	283,184	275,831
Net Income	55,560	354,608	664,281	907,276
Net Income Attributable to Noncontrolling Interests	1,880	1,880	3,759	3,759
Net Income Attributable to Common Shareholders	$ 53,680	$ 352,728	$ 660,522	$ 903,517
Basic Earnings Per Common Share (in dollars per share)	$ 0.14	$ 0.96	$ 1.76	$ 2.46
Diluted Earnings Per Common Share (in dollars per share)	$ 0.14	$ 0.96	$ 1.75	$ 2.45
Weighted Average Common Shares Outstanding:
Basic (in shares)	376,488,004	368,661,995	376,257,047	367,991,121
Diluted (in shares)	376,998,879	368,917,187	376,791,247	368,297,404

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net Income	$ 664,281	$ 907,276
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	844,396	765,175
Deferred Income Taxes	78,473	10,937
Uncollectible Expense	50,585	41,519
Pension, SERP and PBOP Income, Net	(54,253)	(39,373)
Regulatory Over Recoveries, Net	210,184	28,133
Amortization	358,441	564,552
Cost of Removal Expenditures	(102,024)	(161,020)
Sale of Aquarion	111,360	0
Loss on Offshore Wind	194,000	0
Other	180,360	24,873
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	71,340	(51,220)
Taxes Receivable/Accrued, Net	122,183	323,484
Accounts Payable	(224,254)	(156,507)
Other Current Assets and Liabilities, Net	(90,289)	(159,925)
Net Cash Flows Provided by Operating Activities	2,414,783	2,097,904
Investing Activities:
Investments in Property, Plant and Equipment	(2,023,472)	(2,049,401)
Proceeds from Sales of Marketable Securities	126,090	123,899
Purchases of Marketable Securities	(121,375)	(116,775)
Payments for Offshore Wind Contingent Liability	(233,001)	(68,632)
Proceeds from Sale of Aquarion	2,334,136	0
Other Investing Activities	23,090	7,722
Net Cash Flows Used in Investing Activities	105,468	(2,103,187)
Financing Activities:
Issuance of Common Shares, Net of Issuance Costs	20,205	218,021
Cash Dividends on Common Shares	(580,281)	(540,859)
Cash Dividends on Preferred Stock	(3,759)	(3,759)
Decrease in Notes Payable	(1,030,445)	(662,293)
Repayment of Rate Reduction Bonds	(21,605)	(21,605)
Issuance of Long-Term Debt	2,404,894	1,728,193
Retirement of Long-Term Debt	(1,616,803)	(375,122)
Other Financing Activities	(44,651)	(26,815)
Net Cash Flows (Used in)/Provided by Financing Activities	(872,445)	315,761
Net (Decrease)/Increase in Cash and Restricted Cash	1,647,806	310,478
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	246,245	127,308
Cash, Cash Equivalents and Restricted Cash - End of Period	$ 1,894,051	$ 437,786

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and Cash Equivalents	$ 1,819,319	$ 135,351
Receivables, Net (net of allowance for uncollectible accounts)	1,723,357	1,847,094
Unbilled Revenues	182,796	275,108
Materials, Supplies, Natural Gas and REC Inventory	467,200	491,592
Regulatory Assets	1,905,179	1,975,083
Prepayments and Other Current Assets	344,480	352,958
Total Current Assets	6,442,331	5,077,186
Property, Plant and Equipment, Net	45,270,581	45,930,959
Deferred Debits and Other Assets:
Regulatory Assets	5,241,018	5,718,646
Goodwill	3,571,333	4,233,767
Prepaid Pension and PBOP	1,550,884	1,511,169
Marketable Securities	319,985	317,101
Other Long-Term Assets	1,019,611	997,883
Total Deferred Debits and Other Assets	11,702,831	12,778,566
Total Assets	63,415,743	63,786,711
Current Liabilities:
Notes Payable	393,700	1,525,445
Long-Term Debt – Current Portion	2,502,629	1,392,948
Rate Reduction Bonds – Current Portion	43,210	43,210
Accounts Payable	1,605,121	1,859,692
Accrued Interest	403,091	380,231
Regulatory Liabilities	1,696,398	1,264,609
Offshore Wind Contingent Liability	409,157	448,158
Other Current Liabilities	1,001,529	894,219
Total Current Liabilities	8,054,835	7,808,512
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	5,732,055	5,647,218
Regulatory Liabilities	4,231,128	4,273,465
Derivative Liabilities	390,341	753,149
Asset Retirement Obligations	605,690	595,442
Accrued SERP and PBOP	99,098	100,859
Other Long-Term Liabilities	938,604	1,101,932
Total Deferred Credits and Other Liabilities	11,996,916	12,472,065
Long-Term Debt	26,608,990	26,872,433
Rate Reduction Bonds	259,257	280,862
Noncontrolling Interest – Preferred Stock of Subsidiaries	155,568	155,568
Common Shareholders' Equity:
Common Shares	1,915,718	1,914,273
Capital Surplus, Paid In	9,993,108	9,937,878
Retained Earnings	4,573,332	4,504,983
Accumulated Other Comprehensive Loss	(19,346)	(20,507)
Treasury Stock	(122,635)	(139,356)
Common Shareholders' Equity	16,340,177	16,197,271
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$ 63,415,743	$ 63,786,711