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Commitments and Contingencies | 6 Months Ended
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Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Leases Xcel Energy evaluates contracts that may contain leases, including PPAs and arrangements for the use of office space and other facilities, vehicles and equipment. A contract contains a lease if it conveys the exclusive right to control the use of a specific asset. Components of lease expense:
|  | Three Months Ended June 30
(Millions of Dollars) |  | 2022 |  | 2021
Operating leases |  |  |  |
PPA capacity payments |  | $ | 60 |  |  | $ | 56 |
Other operating leases (a) |  | 9 |  |  | 9 |
Total operating lease expense (b) |  | $ | 69 |  |  | $ | 65 |
Finance leases |  |  |  |
Amortization of ROU assets |  | $ | 1 |  |  | $ | 2 |
Interest expense on lease liability |  | 4 |  |  | 4 |
Total finance lease expense |  | $ | 5 |  |  | $ | 6 |
(a)Includes short-term lease expense o f $2 million for 2022 and 2021. (b)PPA capacity payments are included in electric fuel and purchased power on the consolidated statements of income. Expense for other operating leases is included in O&M expense and electric fuel and purchased power.
|  | Six Months Ended June 30
(Millions of Dollars) |  | 2022 |  | 2021
Operating leases |  |  |  |
PPA capacity payments |  | $ | 123 |  |  | $ | 114 |
Other operating leases (a) |  | 20 |  |  | 17 |
Total operating lease expense (b) |  | $ | 143 |  |  | $ | 131 |
Finance leases |  |  |  |
Amortization of ROU assets |  | $ | 2 |  |  | $ | 4 |
Interest expense on lease liability |  | 8 |  |  | 8 |
Total finance lease expense |  | $ | 10 |  |  | $ | 12 |
(a)Includes short-term lease expense o f $3 million for 2022 and 2021. (b)PPA capacity payments are included in electric fuel and purchased power on the consolidated statements of income. Expense for other operating leases is included in O&M expense and electric fuel and purchased power. Commitments under operating and finance leases as of June 30, 2022:
(Millions of Dollars) |  | PPA Operating Leases |  | Other Operating Leases |  | Total Operating Leases |  | Finance Leases (a)
Total minimum obligation |  | $ | 1,303 |  |  | $ | 171 |  |  | $ | 1,474 |  |  | $ | 236 |
Interest component of obligation |  | (186) |  |  | (31) |  |  | (217) |  |  | (165) |
Present value of minimum obligation |  | $ | 1,117 |  |  | 140 |  |  | 1,257 |  |  | 71 |
Less current portion |  |  |  |  |  | (210) |  |  | (4) |
Noncurrent operating and finance lease liabilities |  |  |  |  |  | $ | 1,047 |  |  | $ | 67 |
(a)Excludes certain amounts related to Xcel Energy’s 50% ownership interest in WYCO. Other Guarantees and Bond Indemnifications — Xcel Energy provides guarantees and bond indemnities, which guarantee payment or performance. Xcel Energy Inc.’s exposure is based upon the net liability under the agreements. Most of the guarantees and bond indemnities issued by Xcel Energy have a stated maximum amount. As of June 30, 2022 and Dec. 31, 2021, Xcel Energy had no assets held as collateral related to their guarantees, bond indemnities and indemnification agreements. Guarantees and bond indemnities issued and outstanding for Xcel Energy were approximately $61 million and $60 million at June 30, 2022 and Dec. 31, 2021, respectively. Other Indemnification Agreements — Xcel Energy provides indemnifications through various contracts. These are primarily indemnifications against adverse litigation outcomes in connection with underwriting agreements, as well as breaches of representations and warranties, including corporate existence, transaction authorization and income tax matters with respect to assets sold. Xcel Energy’s obligations under these agreements may be limited in duration and amount. Maximum future payments under these indemnifications cannot be reasonably estimated.

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