Board Of Aldermen

Post-retirement medical benefits are provided for eligible retired employees through one of
two plans (collectively referred to as our “OPEB Plans”). For employees who retire on or after
the normal retirement age of 65, benefits are provided through a post-retirement plan (the
“Post-65 Plan”). For eligible non-union employees who retire prior to their normal retirement
age and who have met certain age and service requirements, benefits are provided through
a post-employment medical plan (the “Post-employment Plan”). Future benefits under the

5.

Deferred Charges and Other Assets

Deferred charges and other assets as of December 31, 2021 and 2020 consisted of the
following:

The provision for depreciation is computed on the straight-line method over the estimated
useful lives of the assets, which range from 3 to 91 years. The weighted average composite
depreciation rate was 2.44% and 2.58% in 2021 and 2020, respectively.

Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash
reported within the consolidated balance sheets that sum to the total of the same such
amounts shown in the statements of cash flows.

(in thousands) 2021 2020

New Accounting Standards to be Adopted in the Future

Leases

Contract Assets and Liabilities

As a significant change in one or more of these estimates could affect the profitability of the
Company’s contracts, management reviews and updates the Company’s contract-related
estimates regularly through a Company-wide project review process in which management
reviews the progress and execution of the Company's performance obligations and the
estimate at completion. As part of this process, management reviews information including,
but not limited to, any outstanding key contract matters, progress towards completion and

Revenues from real estate operations, other than undistributed earnings or losses from
equity method joint ventures, are recorded upon completion of a sale of real property. The
Company's real estate holdings outside of the Company’s utility subsidiaries are comprised
primarily of undeveloped land.

The Company does not have any significant financing components as payment is received at
or shortly after the point of sale.

Contract Combination

Unamortized Debt issuance Costs

Unamortized debt issuance costs are amortized over the original term of the related bonds
and notes. The Company's utility subsidiaries have recorded unamortized debt issuance costs
in cases where the NHPUC has permitted, or is expected to permit, recovery of these costs
over future periods. The debt issuance costs are being amortized over the original lives of the
associated debt.

Contributions in Aid of Construction

Concentration of Credit Risks

Restricted Cash — CIAC