Proceeds from DOE Spent Nuclear Fuel Litigation

  
EVERSOURCE ENERGY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | For the Years Ended December 31, |
| (Thousands of Dollars) | 2021 |  | 2020 |  | 2019 |
|  |  |  |  |  |  |
| Operating Activities: |   |  |   |  |   |
| Net Income | $ | 1,228,046  |  |  | $ | 1,212,686  |  |  | $ | 916,572  |  |
| Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: |   |  |  |  |  |
| Depreciation | 1,103,008  |  |  | 981,380  |  |  | 885,278  |  |
| Deferred Income Taxes | 347,056  |  |  | 257,154  |  |  | 209,812  |  |
| Uncollectible Expense | 60,886  |  |  | 53,461  |  |  | 63,446  |  |
| Pension, SERP and PBOP (Income)/Expense, Net | (14,693) |  |  | 12,888  |  |  | 22,000  |  |
| Pension and PBOP Contributions | (182,344) |  |  | (111,524) |  |  | (121,782) |  |
| Regulatory Underrecoveries, Net | (314,211) |  |  | (516,411) |  |  | (124,870) |  |
| Reserve at CL&P related to PURA Settlement Agreement and Storm Performance Penalty | 81,274  |  |  | —  |  |  | —  |  |
| Amortization | 231,965  |  |  | 177,679  |  |  | 195,380  |  |
| Payments Related to CYAPC's DOE Pre-1983 Spent Nuclear Fuel Obligation | —  |  |  | —  |  |  | (29,000) |  |
| Proceeds from DOE Spent Nuclear Fuel Litigation  | —  |  |  | —  |  |  | 68,840  |  |
| Impairment of Northern Pass Transmission | —  |  |  | —  |  |  | 239,644  |  |
| Cost of Removal Expenditures | (242,130) |  |  | (148,332) |  |  | (153,477) |  |
| Other | (64,640) |  |  | (25,957) |  |  | (42,610) |  |
| Changes in Current Assets and Liabilities: |   |  |  |  |  |
| Receivables and Unbilled Revenues, Net | (135,505) |  |  | (351,843) |  |  | (98,716) |  |
| Fuel, Materials, Supplies and REC Inventory | (1,859) |  |  | (15,404) |  |  | (8,074) |  |
| Taxes Receivable/Accrued, Net | (110,621) |  |  | 43,819  |  |  | (16,129) |  |
| Accounts Payable | (29,201) |  |  | 122,567  |  |  | 14,866  |  |
| Other Current Assets and Liabilities, Net | 5,569  |  |  | (9,591) |  |  | (11,603) |  |
| Net Cash Flows Provided by Operating Activities | 1,962,600  |  |  | 1,682,572  |  |  | 2,009,577  |  |
|   |  |  |  |  |  |
| Investing Activities: |   |  |   |  |   |
| Investments in Property, Plant and Equipment | (3,175,080) |  |  | (2,942,996) |  |  | (2,911,489) |  |
| Proceeds from Sales of Marketable Securities | 447,893  |  |  | 434,124  |  |  | 566,592  |  |
|  |  |  |  |  |  |
| Purchases of Marketable Securities | (414,980) |  |  | (401,823) |  |  | (537,258) |  |
| Acquisition of Assets of Columbia Gas of Massachusetts, Net of Restricted Cash | —  |  |  | (1,113,252) |  |  | —  |  |
| Investments in Unconsolidated Affiliates, Net | (327,385) |  |  | (239,673) |  |  | (416,337) |  |
| Proceeds from the Sale of Hingham Water System | —  |  |  | 110,536  |  |  | —  |  |
|  |  |  |  |  |  |
| Other Investing Activities | 22,178  |  |  | 23,809  |  |  | 24,204  |  |
| Net Cash Flows Used in Investing Activities | (3,447,374) |  |  | (4,129,275) |  |  | (3,274,288) |  |
|  |  |  |  |  |  |
| Financing Activities: |   |  |   |  |   |
| Issuance of Common Shares, Net of Issuance Costs | —  |  |  | 928,992  |  |  | 852,254  |  |
| Cash Dividends on Common Shares | (805,439) |  |  | (744,665) |  |  | (663,239) |  |
| Cash Dividends on Preferred Stock | (7,519) |  |  | (7,519) |  |  | (7,519) |  |
| Increase in Notes Payable | 256,125  |  |  | 13,955  |  |  | 325,370  |  |
| Repayment of Rate Reduction Bonds | (43,210) |  |  | (43,210) |  |  | (52,332) |  |
| Issuance of Long-Term Debt | 3,230,000  |  |  | 2,760,000  |  |  | 1,520,000  |  |
| Retirement of Long-Term Debt | (1,142,500) |  |  | (327,236) |  |  | (801,078) |  |
| Other Financing Activities | (46,625) |  |  | 14,273  |  |  | (1,006) |  |
| Net Cash Flows Provided by Financing Activities | 1,440,832  |  |  | 2,594,590  |  |  | 1,172,450  |  |
| Net (Decrease)/Increase in Cash and Restricted Cash | (43,942) |  |  | 147,887  |  |  | (92,261) |  |
| Cash and Restricted Cash - Beginning of Year | 264,950  |  |  | 117,063  |  |  | 209,324  |  |
| Cash and Restricted Cash - End of Year | $ | 221,008  |  |  | $ | 264,950  |  |  | $ | 117,063  |  |

  
The accompanying notes are an integral part of these consolidated financial statements.  
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