Eversource Energy : Q1 2026 Yankee Gas Financial Statements

Published: 2026-05-11 11:15:13 ET ES

Published on 05/11/2026 at 11:15 am EDT

‌BALANCE SHEETS

(Unaudited)

(Thousands of Dollars)

As of March 31, 2026

As of December 31, 2025

ASSETS

Current Assets:

Cash

$ 4,580

$ 75

Receivables, Net (net of allowance for uncollectible accounts of $67,050 and $57,542 as of March 31, 2026 and December 31, 2025, respectively)

123,931

96,996

Accounts Receivable from Affiliated Companies

8,823

7,148

Unbilled Revenues

17,242

19,918

Natural Gas, Materials and Supplies Inventory

21,390

36,877

Regulatory Assets

118,750

113,597

Prepayments and Other Current Assets

12,956

11,924

Total Current Assets

307,672

286,535

Property, Plant and Equipment, Net

2,936,891

2,925,374

Deferred Debits and Other Assets:

Regulatory Assets

351,400

343,249

Goodwill

287,591

Prepaid Pension and PBOP

26,809

25,785

Other Long-Term Assets

5,518

5,557

Total Deferred Debits and Other Assets

671,318

662,182

Total Assets

$ 3,915,881

$ 3,874,091

LIABILITIES AND CAPITALIZATION

Current Liabilities:

Notes Payable to Eversource Parent

$ 112,900

$ 126,900

Long-Term Debt - Current Portion

90,000

Accounts Payable

40,944

93,044

Accounts Payable to Affiliated Companies

23,394

25,383

Accrued Taxes

34,464

10,758

Accrued Interest

10,621

21,127

Regulatory Liabilities

24,785

19,930

Other Current Liabilities

8,638

10,712

Total Current Liabilities

345,746

397,854

Deferred Credits and Other Liabilities:

Accumulated Deferred Income Taxes

402,539

392,201

Regulatory Liabilities

214,625

217,824

Other Long-Term Liabilities

73,716

73,977

Total Deferred Credits and Other Liabilities

690,880

684,002

Long-Term Debt

1,111,523

1,111,382

Common Stockholder's Equity:

Common Stock

Capital Surplus, Paid In

1,488,362

1,458,862

Retained Earnings

279,506

222,135

Accumulated Other Comprehensive Loss

(141)

(149)

Common Stockholder's Equity

1,767,732

1,680,853

Total Liabilities and Capitalization

$ 3,915,881

$ 3,874,091

Note: In the opinion of the Company, all adjustments for a fair presentation of these financial statements for the periods shown have been made.

‌STATEMENTS OF INCOME

(Unaudited)

For the Three Months Ended March 31,

(Thousands of Dollars)

2026

2025

Operating Revenues

372,977

270,333

Operating Expenses:

Cost of Natural Gas

144,135

105,607

Operations and Maintenance

40,865

36,397

Depreciation

25,020

16,464

Amortization of Regulatory Assets, Net

2,685

4,882

Energy Efficiency Programs

9,753

9,389

Taxes Other Than Income Taxes

29,750

24,467

Total Operating Expenses

252,208

197,206

Operating Income

120,769

73,127

Interest Expense

14,048

12,124

Other Income, Net

2,285

2,195

Income Before Income Tax Expense

109,006

63,198

Income Tax Expense

28,935

14,574

Net Income

80,071

48,624

Note: In the opinion of the Company, all adjustments for a fair presentation of these financial statements for the periods shown have been made.

STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

For the Three Months Ended March 31,

(Thousands of Dollars)

2026

2025

Net Income

80,071

48,624

Other Comprehensive Income, Net of Tax:

Qualified Cash Flow Hedging Instruments

Changes in Funded Status of SERP Benefit Plan

(7)

Other Comprehensive Income, Net of Tax:

Comprehensive Income

80,079

48,624

Note: In the opinion of the Company, all adjustments for a fair presentation of these financial statements for the periods shown have been made.

‌STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

(Unaudited)

For the Three Months Ended March 31, 2026

Common Stock Capital

Accumulated Other

Total Common

(Thousands of Dollars, Except Stock Information)

Stock

Amount

Surplus,

Paid In

Retained

Earnings

Comprehensive

Loss

Stockholder's

Equity

Balance as of January 1, 2026

1,000

$ 5

$ 1,458,862

$ 222,135

$ (149)

$ 1,680,853

Net Income

80,071

Dividends on Common Stock

(22,700)

Capital Contributions from Parent

29,500

Other Comprehensive Income

Balance as of March 31, 2026

1,000

$ 5

$ 1,488,362

$ 279,506

$ (141)

$ 1,767,732

For the Three Months Ended March 31, 2025

Common Stock Capital

Accumulated Other

Total Common

(Thousands of Dollars, Except Stock Information)

Stock

Amount

Surplus,

Paid In

Retained

Earnings

Comprehensive

Loss

Stockholder's

Equity

Balance as of January 1, 2025

1,000

$ 5

$ 1,368,862

$ 192,753

$ (78)

$ 1,561,542

Net Income

48,624

Dividends on Common Stock

(12,500)

Balance as of March 31, 2025

1,000

$ 5

$ 1,368,862

$ 228,877

$ (78)

$ 1,597,666

Note: In the opinion of the Company, all adjustments for a fair presentation of these financial statements for the periods shown have been made.

‌STATEMENTS OF CASH FLOWS

(Unaudited)

For the Three Months Ended March 31,

(Thousands of Dollars) 2026 2025

Operating Activities:

Net Income

$ 80,071

$ 48,624

Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:

Depreciation

25,020

16,464

Deferred Income Taxes

6,461

6,327

Pension, SERP and PBOP Income, Net

(492)

(350)

Amortization of Regulatory Assets, Net

2,685

4,882

Regulatory Under Recoveries, Net

(470)

(3,934)

Uncollectible Expense

2,913

1,992

Cost of Removal Expenditures

(7,833)

(17,373)

Other

(646)

(3,718)

Changes in Current Assets and Liabilities:

Receivables and Unbilled Revenues, Net

(39,100)

(24,575)

Taxes Receivable/Accrued, Net

24,711

17,247

Accounts Payable

(33,902)

(3,775)

Other Current Assets and Liabilities, Net

2,106

(5,614)

Net Cash Flows Provided by Operating Activities

61,524

36,197

Investing Activities:

Investments in Property, Plant and Equipment

(49,819)

(44,174)

Net Cash Flows Used in Investing Activities

(49,819)

(44,174)

Financing Activities:

Cash Dividends on Common Stock

(22,700)

(12,500)

Capital Contributions from Parent

29,500

(Decrease)/Increase in Notes Payable to Eversource Parent

(14,000)

27,400

Net Cash Flows (Used in)/Provided by Financing Activities

(7,200)

14,900

Net Increase in Cash

4,505

6,923

Cash - Beginning of Period

Cash - End of Period

$ 4,580

$ 6,923

Note: In the opinion of the Company, all adjustments for a fair representation of these financial statements for the periods shown have been made.

Disclaimer

Eversource Energy published this content on May 11, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 11, 2026 at 15:14 UTC.