Eversource’s marketable securities include the CYAPC and YAEC legally restricted trusts that each hold equity and available-for-sale debt securities to fund the spent nuclear fuel removal obligations of their nuclear fuel storage facilities. Equity and available-for-sale debt marketable securities are recorded at fair value. CYAPC and YAEC’s spent nuclear fuel trusts are restricted and are classified in long-term Marketable Securities on the balance sheets.

Eversource’s water business also holds a trust. Securities held in this trust as of June 30, 2025 and December 31, 2024 of $4.2 million and $4.1 million, respectively, were reclassified to Assets Held for Sale on the Eversource balance sheets.

Equity Securities: Eversource's equity securities include CYAPC's and YAEC's marketable securities held in spent nuclear fuel trusts, which had fair values of $159.8 million and $163.1 million as of June 30, 2025 and December 31, 2024, respectively. Unrealized gains and losses for these spent nuclear fuel trusts are subject to regulatory accounting treatment and are recorded in Marketable Securities with the corresponding offset to long-term liabilities on the balance sheets, with no impact on the statements of income.


	As of June 30, 2025								As of December 31, 2024
Eversource (Millions of Dollars)	Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value		Amortized Cost		Pre-Tax Unrealized Gains		Pre-Tax Unrealized Losses		Fair Value
Debt Securities	$	162.4	$	0.1	$	(5.7)	$	156.8	$	163.2	$	0.1	$	(6.1)	$	157.2

Unrealized gains and losses for available-for-sale debt securities included in the CYAPC and YAEC spent nuclear fuel trusts are subject to regulatory accounting treatment and are recorded in Marketable Securities with the corresponding offset to long-term liabilities on the balance sheets, with no impact on the statements of income.


Eversource (Millions of Dollars)	Amortized Cost		Fair Value
Less than one year	$	15.1	$	15.1
One to five years	33.3		33.6
Six to ten years	30.4		30.1
Greater than ten years	83.6		78.0
Total Debt Securities	$	162.4	$	156.8

Realized Gains and Losses: Realized gains and losses are offset in long-term liabilities for CYAPC and YAEC and are recorded in Other Income, Net for Eversource's benefit trusts. Eversource utilizes the average cost basis method for the CYAPC and YAEC spent nuclear fuel trusts.


Eversource (Millions of Dollars)	As of June 30, 2025		As of December 31, 2024
Level 1:
Mutual Funds and Equities	$	159.8	$	163.1
Money Market Funds	11.7		10.0
Total Level 1	$	171.5	$	173.1
Level 2:
U.S. Government Issued Debt Securities (Agency and Treasury)	$	83.0	$	92.0
Corporate Debt Securities	39.4		32.5
Asset-Backed Debt Securities	8.0		7.8
Municipal Bonds	6.3		6.8
Other Fixed Income Securities	8.4		8.1
Total Level 2	$	145.1	$	147.2
Total Marketable Securities	$	316.6	$	320.3

U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates. Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instruments and also incorporating yield curves, credit spreads and specific bond terms and conditions. Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables. Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates, and tranche information. Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields. Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows.