Eversource Energy : Q1 2026 Yankee Gas Financial Statements

About this update from Eversource Energy (d/b/a)

‌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 287,591 287,591 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 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 5 5 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 7 7 Changes in Funded Status of SERP Benefit Plan 1 (7) Other Comprehensive Income, Net of Tax: 8 - 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 80,071 Dividends on Common Stock (22,700) (22,700) Capital Contributions from Parent 29,500 29,500 Other Comprehensive Income 8 8 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 48,624 Dividends on Common Stock (12,500) (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 75 - 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.

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