XML 39 R28.htm IDEA: XBRL DOCUMENT v3.24.3
Benefit Plans and Other Postretirement Benefits (Tables)
 9 Months Ended
Sep. 30, 2024
Retirement Benefits [Abstract]  
Components of Net Periodic Benefit Cost (Credit)
Components of Net Periodic Benefit Cost (Credit)
Three Months Ended Sept. 30
2024202320242023
(Millions of Dollars)Pension BenefitsPostretirement Health
Care Benefits
Service cost$19 $18 $— $— 
Interest cost (a)
37 39 6 6 
Expected return on plan assets (a)
(52)(52)(4)(4)
Amortization of net loss (a)
7 6 — — 
Settlement charge (b)
6 — — — 
Net periodic benefit cost17 11 2 2 
Effects of regulation(1)11 — — 
Net benefit cost recognized for financial reporting$16 $22 $2 $2 
Nine Months Ended Sept. 30
2024202320242023
(Millions of Dollars)Pension BenefitsPostretirement Health
Care Benefits
Service cost$57 $55 $1 $1 
Interest cost (a)
113 119 16 17 
Expected return on plan assets (a)
(155)(157)(13)(13)
Amortization of prior service credit (a)
(1)(1)— (1)
Amortization of net loss (a)
22 17 1 1 
Settlement charge (b)
62 — — — 
Net periodic benefit cost98 33 5 5 
Effects of regulation(37)25 — — 
Net benefit cost recognized for financial reporting$61 $58 $5 $5 
(a)The components of net periodic cost other than the service cost component are included in the line item “Other income, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset.
(b)A settlement charge is required when the amount of lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In the three and nine months ended Sept. 30, 2024, as a result of lump-sum distributions during the 2024 plan year, Xcel Energy recorded a pension settlement charge of $6 million and $62 million, respectively, the majority of which was not recognized due to the effects of regulation. A total of $1 million and $8 million was recognized in the consolidated statement of income for the three and nine months ended Sept. 30, 2024.