Commitment and Contingencies (Tables)

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Finance Lease, Liability, Fiscal Year Maturity

Commitments under operating and finance leases as of March 31, 2025:


(Millions of Dollars)	PPA Operating Leases		Other Operating Leases		Total Operating Leases		Finance Leases (a)
Total minimum obligation	$	1,014	$	368	$	1,382	$	206
Interest component of obligation	(131)		(143)		(274)		(145)
Present value of minimum obligation	$	883	225		1,108		61
Less current portion					(219)		(2)
Noncurrent operating and finance lease liabilities					$	889	$	59

(a)Excludes certain amounts related to Xcel Energy’s 50% ownership interest in WYCO.

Lease, Cost

Components of lease expense:



	Three Months Ended March 31
(Millions of Dollars)	2025		2024
Operating leases
PPA capacity payments	$	57	$	58
Other operating leases (a)	13		11
Total operating lease expense (b)	$	70	$	69
Finance leases
Amortization of ROU assets	$	1	$	1
Interest expense on lease liability	4		4
Total finance lease expense	$	5	$	5

(a)Includes immaterial short-term lease expense for the three months ended March 31, 2025 and 2024.

(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.