CONNECTICUT LIGHT & POWER CO

For the period ended Mar 31, 2026. Filed May 7, 2026.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 7, 2026

ES$69.49-0.5%Stored close · as of Nov 9, 2026

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Contents

Condensed Statements of Cash Flows

	For the Three Months Ended March 31,
(Thousands of Dollars)	2026	2025
Operating Activities:
Net Income	$139,329	$156,236
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	111,745	106,680
Deferred Income Taxes	(39,096)	(35,411)
Uncollectible Expense	5,491	4,671
Pension, SERP, and PBOP Income, Net	(4,860)	(3,614)
Regulatory Under Recoveries, Net	(19,603)	(103,101)
Amortization of Regulatory Assets, Net	280,022	343,213
Cost of Removal Expenditures	(9,053)	(16,072)
Other	25,601	826
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(91,971)	4,910
Taxes Receivable/Accrued, Net	(80,105)	57,653
Accounts Payable	(50,494)	(51,626)
Other Current Assets and Liabilities, Net	(41,910)	(41,659)
Net Cash Flows Provided by Operating Activities	225,096	422,706
Investing Activities:
Investments in Property, Plant and Equipment	(248,359)	(223,555)
Net Cash Flows Used in Investing Activities	(248,359)	(223,555)
Financing Activities:
Cash Dividends on Common Stock	(88,400)	(247,000)
Cash Dividends on Preferred Stock	(1,390)	(1,390)
Issuance of Long-Term Debt	—	400,000
Increase/(Decrease) in Notes Payable to Eversource Parent	39,000	(280,000)
Other Financing Activities	(506)	(4,153)
Net Cash Flows Used in Financing Activities	(51,296)	(132,543)
Net (Decrease)/Increase in Cash and Restricted Cash	(74,559)	66,608
Cash and Restricted Cash - Beginning of Period	88,676	2,109
Cash and Restricted Cash - End of Period	$14,117	$68,717

(Thousands of Dollars)	As of March 31, 2026	As of December 31, 2025
ASSETS
Current Assets:
Cash	$190,821	$8,302
Receivables, Net (net of allowance for uncollectible accounts of $127,113 and $132,561 as of March 31, 2026 and December 31, 2025, respectively)	575,045	616,280
Accounts Receivable from Affiliated Companies	201,003	280,099
Unbilled Revenues	45,989	56,948
Materials, Supplies and REC Inventory	234,150	210,865
Regulatory Assets	1,018,886	978,754
Derivative Assets	131,156	91,011
Prepayments and Other Current Assets	15,606	90,040
Total Current Assets	2,412,656	2,332,299
Property, Plant and Equipment, Net	15,569,419	15,308,896
Deferred Debits and Other Assets:
Regulatory Assets	1,805,604	1,823,522
Prepaid Pension and PBOP	826,909	804,109
Other Long-Term Assets	275,491	264,073
Total Deferred Debits and Other Assets	2,908,004	2,891,704
Total Assets	$20,890,079	$20,532,899
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable	$—	$245,445
Long-Term Debt – Current Portion	300,000	300,000
Accounts Payable	566,106	558,227
Accounts Payable to Affiliated Companies	187,528	198,085
Obligations to Third-Party Suppliers	183,320	179,757
Renewable Portfolio Standards Compliance Obligations	117,185	98,648
Regulatory Liabilities	835,408	650,813
Other Current Liabilities	148,805	110,331
Total Current Liabilities	2,338,352	2,341,306
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	2,110,852	2,087,287
Regulatory Liabilities	1,722,355	1,702,059
Derivative Liabilities	636,179	753,149
Other Long-Term Liabilities	410,335	401,625
Total Deferred Credits and Other Liabilities	4,879,721	4,944,120
Long-Term Debt	5,646,738	5,645,638
Preferred Stock Not Subject to Mandatory Redemption	43,000	43,000
Common Stockholder's Equity:
Common Stock	—	—
Capital Surplus, Paid In	4,496,842	4,238,842
Retained Earnings	3,485,228	3,319,768
Accumulated Other Comprehensive Income	198	225
Common Stockholder's Equity	7,982,268	7,558,835
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$20,890,079	$20,532,899

	For the Three Months Ended March 31,
(Thousands of Dollars)	2026	2025
Operating Revenues	$1,131,088	$1,014,227
Operating Expenses:
Purchased Power and Transmission	310,158	308,946
Operations and Maintenance	196,670	174,137
Depreciation	119,337	108,014
Amortization of Regulatory Assets, Net	74,716	52,284
Energy Efficiency Programs	108,253	63,438
Taxes Other Than Income Taxes	75,709	75,839
Total Operating Expenses	884,843	782,658
Operating Income	246,245	231,569
Interest Expense	80,275	59,220
Other Income, Net	51,684	46,292
Income Before Income Tax Expense	217,654	218,641
Income Tax Expense	51,704	51,466
Net Income	$165,950	$167,175

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	For the Three Months Ended March 31,
(Thousands of Dollars)	2026	2025
Net Income	$165,950	$167,175
Other Comprehensive Loss, Net of Tax:
Changes in Funded Status of SERP Benefit Plan	(32)	(7)
Qualified Cash Flow Hedging Instruments	5	5
Other Comprehensive Loss, Net of Tax	(27)	(2)
Comprehensive Income	$165,923	$167,173

CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

	For the Three Months Ended March 31, 2026
Common Stock · CapitalSurplus,Paid In · RetainedEarnings · AccumulatedOtherComprehensiveIncome · TotalCommonStockholder'sEquity
(Thousands of Dollars, Except Stock Information) · Stock · Amount
Balance as of January 1, 2026	200	$—		$4,238,842		$3,319,768	$225	$7,558,835
Net Income			165,950		165,950
Dividends on Preferred Stock			(490)		(490)
Capital Contributions from Eversource Parent		258,000			258,000
Other Comprehensive Loss				(27)	(27)
Balance as of March 31, 2026	200	$—		$4,496,842		$3,485,228	$198	$7,982,268

	For the Three Months Ended March 31, 2025
Common Stock · CapitalSurplus,Paid In · RetainedEarnings · AccumulatedOtherComprehensiveLoss · TotalCommonStockholder'sEquity
(Thousands of Dollars, Except Stock Information) · Stock · Amount
Balance as of January 1, 2025	200	$—		$3,788,842		$3,127,105	$(141)	$6,915,806
Net Income			167,175		167,175
Dividends on Preferred Stock			(490)		(490)
Dividends on Common Stock			(436,000)		(436,000)
Capital Contributions from Eversource Parent		100,000			100,000
Other Comprehensive Loss				(2)	(2)
Balance as of March 31, 2025	200	$—		$3,888,842		$2,857,790	$(143)	$6,746,489

	For the Three Months Ended March 31,
(Thousands of Dollars)	2026	2025
Operating Activities:
Net Income	$165,950	$167,175
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	119,337	108,014
Deferred Income Taxes	12,431	(10,197)
Uncollectible Expense	8,299	7,485
Pension, SERP and PBOP Income, Net	(11,511)	(10,161)
Regulatory Over Recoveries, Net	67,682	78,429
Amortization of Regulatory Assets, Net	74,716	52,284
Cost of Removal Expenditures	(6,092)	(16,903)
Other	(22,321)	(7,333)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	111,590	(114,975)
Taxes Receivable/Accrued, Net	54,123	78,295
Accounts Payable	(50,973)	3,771
Other Current Assets and Liabilities, Net	11,458	(24,456)
Net Cash Flows Provided by Operating Activities	534,689	311,428
Investing Activities:
Investments in Property, Plant and Equipment	(381,725)	(367,462)
Net Cash Flows Used in Investing Activities	(381,725)	(367,462)
Financing Activities:
Cash Dividends on Common Stock	—	(436,000)
Cash Dividends on Preferred Stock	(490)	(490)
Issuance of Long-Term Debt	—	800,000
Capital Contributions from Eversource Parent	258,000	100,000
Decrease in Notes Payable	(245,445)	(396,282)
Other Financing Activities	(152)	(9,114)
Net Cash Flows Provided by Financing Activities	11,913	58,114
Net Increase in Cash and Restricted Cash	164,877	2,080
Cash and Restricted Cash - Beginning of Period	25,944	9,023
Cash and Restricted Cash - End of Period	$190,821	$11,103

(Thousands of Dollars)	As of March 31, 2026	As of December 31, 2025
ASSETS
Current Assets:
Cash	$3,096	$13,665
Receivables, Net (net of allowance for uncollectible accounts of $24,304 and $23,547 as of March 31, 2026 and December 31, 2025, respectively)	240,524	214,117
Accounts Receivable from Affiliated Companies	25,869	24,338
Unbilled Revenues	53,816	62,446
Materials, Supplies and REC Inventory	63,988	58,879
Regulatory Assets	101,449	119,871
Special Deposits	22,274	38,343
Prepayments and Other Current Assets	2,239	19,212
Total Current Assets	513,255	550,871
Property, Plant and Equipment, Net	5,569,694	5,507,663
Deferred Debits and Other Assets:
Regulatory Assets	870,534	841,203
Prepaid Pension and PBOP	117,031	111,833
Other Long-Term Assets	20,774	17,661
Total Deferred Debits and Other Assets	1,008,339	970,697
Total Assets	$7,091,288	$7,029,231
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable to Eversource Parent	$79,400	$49,300
Rate Reduction Bonds – Current Portion	43,210	43,210
Accounts Payable	139,305	179,137
Accounts Payable to Affiliated Companies	52,583	45,277
Obligations to Third-Party Suppliers	36,361	37,584
Accrued Interest	31,300	35,224
Regulatory Liabilities	134,115	118,443
Other Current Liabilities	71,076	62,334
Total Current Liabilities	587,350	570,509
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes	817,188	806,270
Regulatory Liabilities	425,128	417,442
Other Long-Term Liabilities	53,482	46,669
Total Deferred Credits and Other Liabilities	1,295,798	1,270,381
Long-Term Debt	2,031,850	2,031,323
Rate Reduction Bonds	259,257	280,862
Common Stockholder's Equity:
Common Stock	—	—
Capital Surplus, Paid In	1,973,134	1,973,134
Retained Earnings	943,899	903,022
Common Stockholder's Equity	2,917,033	2,876,156
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization	$7,091,288	$7,029,231

	For the Three Months Ended March 31,
(Thousands of Dollars)	2026	2025
Operating Revenues	$383,517	$347,981
Operating Expenses:
Purchased Power and Transmission	89,195	80,007
Operations and Maintenance	61,540	71,009
Depreciation	44,439	40,502
Amortization of Regulatory Assets, Net	26,650	20,835
Energy Efficiency Programs	10,489	12,202
Taxes Other Than Income Taxes	27,285	25,789
Total Operating Expenses	259,598	250,344
Operating Income	123,919	97,637
Interest Expense	28,617	20,569
Other Income, Net	10,502	10,758
Income Before Income Tax Expense	105,804	87,826
Income Tax Expense	26,027	21,547
Net Income	$79,777	$66,279

CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

	For the Three Months Ended March 31, 2026
Common Stock · CapitalSurplus,Paid In · RetainedEarnings · TotalCommonStockholder'sEquity
(Thousands of Dollars, Except Stock Information) · Stock · Amount
Balance as of January 1, 2026	301	$—	$1,973,134	$903,022	$2,876,156
Net Income			79,777	79,777
Dividends on Common Stock			(38,900)	(38,900)
Balance as of March 31, 2026	301	$—	$1,973,134	$943,899	$2,917,033

	For the Three Months Ended March 31, 2025
Common Stock · CapitalSurplus,Paid In · RetainedEarnings · TotalCommonStockholder'sEquity
(Thousands of Dollars, Except Stock Information) · Stock · Amount
Balance as of January 1, 2025	301	$—		$1,898,134	$808,668	$2,706,802
Net Income				66,279	66,279
Capital Contributions from Eversource Parent			75,000		75,000
Balance as of March 31, 2025	301	$—		$1,973,134	$874,947	$2,848,081

	For the Three Months Ended March 31,
(Thousands of Dollars)	2026	2025
Operating Activities:
Net Income	$79,777	$66,279
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation	44,439	40,502
Deferred Income Taxes	9,324	11,127
Uncollectible Expense	1,442	1,315
Pension, SERP and PBOP Income, Net	(2,679)	(2,211)
Regulatory Under Recoveries, Net	(24,930)	(35,625)
Amortization of Regulatory Assets, Net	26,650	20,835
Cost of Removal Expenditures	(5,159)	(5,894)
Other	2,394	(4,195)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net	(23,426)	(6,051)
Taxes Receivable/Accrued, Net	8,975	(3,018)
Accounts Payable	(10,390)	7,498
Other Current Assets and Liabilities, Net	7,934	8,856
Net Cash Flows Provided by Operating Activities	114,351	99,418
Investing Activities:
Investments in Property, Plant and Equipment	(110,465)	(143,315)
Net Cash Flows Used in Investing Activities	(110,465)	(143,315)
Financing Activities:
Cash Dividends on Common Stock	(38,900)	—
Capital Contributions from Eversource Parent	—	75,000
Repayment of Rate Reduction Bonds	(21,605)	(21,605)
Increase/(Decrease) in Notes Payable to Eversource Parent	30,100	(16,600)
Other Financing Activities	(118)	—
Net Cash Flows (Used in)/Provided by Financing Activities	(30,523)	36,795
Net Decrease in Cash and Restricted Cash	(26,637)	(7,102)
Cash and Restricted Cash - Beginning of Period	55,186	37,243
Cash and Restricted Cash - End of Period	$28,549	$30,141

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.