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v3.25.1

Segment Information | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Information | Segment information and reconciliation to Xcel Energy’s consolidated net income:
|  | Three Months Ended March 31, 2025
(Millions of Dollars) |  | Regulated electric utility |  | Regulated natural gas utility |  | Total segments |  |  |  |
Operating revenues |  | $ | 2,835 |  |  | $ | 1,055 |  |  | $ | 3,890 |  |  |  |  |
Intersegment revenue |  | — |  |  | 5 |  |  | 5 |  |  |  |  |
Total segment revenues |  | 2,835 |  |  | 1,060 |  |  | 3,895 |  |  |  |  |
Electric fuel and purchased power |  | 1,020 |  |  | — |  |  | 1,020 |  |  |  |  |
Cost of natural gas sold and transported |  | — |  |  | 513 |  |  | 513 |  |  |  |  |
O&M expenses |  | 567 |  |  | 106 |  |  | 673 |  |  |  |  |
Depreciation and amortization |  | 625 |  |  | 99 |  |  | 724 |  |  |  |  |
Other segment expenses, net |  | 172 |  |  | 56 |  |  | 228 |  |  |  |  |
Interest charges and financing costs |  | 204 |  |  | 30 |  |  | 234 |  |  |  |  |
Income tax (benefit) expense |  | (95) |  |  | 61 |  |  | (34) |  |  |  |  |
Net income |  | $ | 342 |  |  | $ | 195 |  |  | $ | 537 |  |  |  |  |
Total segment net income |  |  |  |  |  | $ | 537 |  |  |  |  |
Non-segment net loss |  |  |  |  |  | (54) |  |  |  |  |
Consolidated net income |  |  |  |  |  | $ | 483 |  |  |  |  |
|  | Three Months Ended March 31, 2024
(Millions of Dollars) |  | Regulated electric utility |  | Regulated natural gas utility |  | Total segments |  |  |  |
Operating revenues |  | $ | 2,685 |  |  | $ | 941 |  |  | $ | 3,626 |  |  |  |  |
Intersegment revenue |  | 1 |  |  | 1 |  |  | 2 |  |  |  |  |
Total segment revenues |  | 2,686 |  |  | 942 |  |  | 3,628 |  |  |  |  |
Electric fuel and purchased power |  | 948 |  |  | — |  |  | 948 |  |  |  |  |
Cost of natural gas sold and transported |  | — |  |  | 483 |  |  | 483 |  |  |  |  |
O&M expenses |  | 503 |  |  | 105 |  |  | 608 |  |  |  |  |
Depreciation and amortization |  | 568 |  |  | 87 |  |  | 655 |  |  |  |  |
Other segment expenses, net |  | 190 |  |  | 33 |  |  | 223 |  |  |  |  |
Interest charges and financing costs |  | 186 |  |  | 27 |  |  | 213 |  |  |  |  |
Income tax (benefit) expense |  | (67) |  |  | 49 |  |  | (18) |  |  |  |  |
Net income |  | $ | 358 |  |  | $ | 158 |  |  | $ | 516 |  |  |  |  |
Total segment net income |  |  |  |  |  | $ | 516 |  |  |  |  |
Non-segment net loss |  |  |  |  |  | (28) |  |  |  |  |
Consolidated net income |  |  |  |  |  | $ | 488 |  |  |  |  |
Equity method investments in the regulated natural gas utility segment of $85 million at both March 31, 2025 and Dec. 31, 2024, primarily relate to WYCO. Non-segment equity method investments of $156 million and $161 million as of March 31, 2025 and Dec. 31, 2024, respectively, relate to investments in energy technology funds. Asset and capital expenditure information is not provided for Xcel Energy’s reportable segments. As an integrated electric and natural gas utility, Xcel Energy operates significant assets that are not dedicated to a specific business segment. Reporting assets and capital expenditures by business segment would require arbitrary and potentially misleading allocations, which may not necessarily reflect the assets that would be required for the operation of the business segments on a stand-alone basis. Certain costs, such as common depreciation, common O&M expenses and interest expense are allocated based on cost causation allocators across each segment. In addition, a general allocator is used for certain general and administrative expenses, including office supplies, rent, property insurance and general advertising. Other segment expenses, net, for the reportable segments includes conservation and DSM expenses, taxes (other than income taxes), other income (expense), net, earnings from equity method investments, intersegment expenses and AFUDC - equity.

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- Definition The entire disclosure for reporting segments including data and tables. 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