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Eversource Energy Annual Report (Amendment), Year Ended Dec 31, 1995

Filing Date
Filed March 14, 1996
Period End
December 31, 1995
Security
ES
In the record · 2016–202610-K1110-Q338-K126

ES filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 126 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Impairment8-K · Jul ’19Jul ’19
  3. Leadership change8-K · May ’21May ’21
  4. Leadership change8-K · Dec ’25Dec ’25

01—Abstract

Summary

Summary of the 10-K/A filed March 14, 1996. Cited figures are marked; the original filing is the authoritative source.

This Form 10-K for fiscal year 1995 is a combined annual report for Northeast Utilities (NU) and four of its subsidiaries: The Connecticut Light and Power Company (CL&P), Public Service Company of New Hampshire (PSNH), Western Massachusetts Electric Company (WMECO), and North Atlantic Energy Corporation (NAEC).

The excerpt provided contains only the cover page, registrant information, securities registrations, and the list of incorporated documents. It does not include the business description, financial statements, or MD&A, which are incorporated by reference from the 1995 Annual Reports to Shareholders. As a result, this excerpt does not allow an assessment of earnings, revenues, capital structure, or operating performance.

The cover page does establish key structural facts for investors. NU is a Massachusetts voluntary association with 127,603,306 common shares outstanding as of February 29, 1996. The aggregate market value of shares held by nonaffiliates was approximately $2.97 billiona, based on a closing price of $23 1/4 per share.

NU wholly owns the common stock of its four operating subsidiaries, including CL&P, PSNH, WMECO, and NAEC, which means the equity investor's exposure runs entirely through this holding structure. The registration statement also shows a diverse set of senior securities outstanding at the subsidiary level. These include multiple series of CL&P preferred stock issued in $50b par value, a PSNH 10.60% preferred series, WMECO preferred and Class A preferred series, and a 9.3% monthly income preferred security issued through CL&P Capital, L.P.

NU common share warrants exercisable at $24c per share are also registered. Investors seeking financial performance details should consult the incorporated 1995 annual reports, which were not included in this excerpt.

02—Key points

Key Highlights

  1. NU common equity: 127,603,306 shares outstanding as of February 29, 1996, with an aggregate nonaffiliate market value of approximately $2.97 billion at $23 1/4 per share.
  2. Holding company structure: NU wholly owns CL&P (12,222,930 shares), PSNH (1,000 shares), WMECO (1,072,471 shares), and NAEC (1,000 shares), making it the sole common shareholder of each subsidiary.
  3. Combined filing: This single 10-K covers five registrants (NU and four subsidiaries), with separate commission file numbers for each.
  4. Multiple preferred series: CL&P has numerous outstanding preferred series ($50 par value), including 1947, 1949, 1954, 1955, 1956, 1958, 1963, 1967, 1968, 1992, and 1993 issues, plus a 9.3% Cumulative Monthly Income Preferred Securities Series A listed on the NYSE.
  5. Other subsidiary preferred stock: PSNH has a 10.60% Series A preferred ($25 par), WMECO has a 7.72% Series B preferred ($100 par) and a 7.60% Class A preferred ($25 par), and WMECO has outstanding Dutch Auction Rate Transferable Securities (1988 Series).
  6. Warrants: NU common share warrants, exercisable at $24 per share, are registered under Section 12(g).
  7. Financial details incorporated by reference: Income statements, balance sheets, and MD&A are included in the 1995 Annual Reports to Shareholders and are not contained in this excerpt.

03—Questions

Frequently Asked Questions

  1. What is the market value of Northeast Utilities' common equity?

    The aggregate market value of common shares held by nonaffiliates was about $2,966,776,865, based on a closing price of $23 1/4 per share on February 29, 1996, for 127,603,306 shares outstanding.

  2. Who owns the operating subsidiaries?

    Northeast Utilities holds 100% of the common stock of CL&P (12,222,930 shares), PSNH (1,000 shares), WMECO (1,072,471 shares), and NAEC (1,000 shares).

  3. Does this filing include NU's financial results for 1995?

    No. The excerpt contains only the cover page and registration information. Financial statements and MD&A are incorporated by reference from the 1995 Annual Reports to Shareholders, which are not included here.

  4. What preferred securities are outstanding that investors could hold?

    Outstanding preferred securities include multiple CL&P preferred series, a 9.3% Cumulative Monthly Income Preferred Security Series A (issued by CL&P Capital, L.P. and guaranteed by CL&P) listed on the NYSE, PSNH's 10.60% Series A preferred, and WMECO's 7.72% Series B and 7.60% Class A preferred, along with WMECO's Dutch Auction Rate Transferable Securities.

  5. What are the NU common share warrants?

    NU has registered common share warrants with no par value, exercisable at $24 per share. These are registered under Section 12(g) of the Securities Exchange Act of 1934.

04—Continue

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