XML 61 R51.htm IDEA: XBRL DOCUMENT v3.20.2
Recurring Fair Value Measurements (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Derivatives, Fair Value [Line Items]          
Obligation to return cash $ 31.5   $ 31.5   $ 31.5
Right to reclaim cash 0.0   0.0   7.9
Commodity Trading          
Changes in Level 3 Commodity Derivatives [Roll Forward]          
Balance at beginning of period 2.8 $ (10.0) 5.3 $ 14.3  
Purchases 28.0 16.7 28.0 16.7  
Settlements (12.6) (3.1) (24.3) (6.4)  
Gains (losses) recognized in earnings [1] 10.9 7.0 17.1 (11.6)  
Net gains (losses) recognized as regulatory assets and liabilities 6.3 (4.6) 9.3 (7.0)  
Balance at end of period 35.4 6.0 35.4 6.0  
Other Noncurrent Assets          
Derivatives, Fair Value [Line Items]          
Derivative asset 27.0   27.0   9.2
Other Current Liabilities          
Derivatives, Fair Value [Line Items]          
Derivative liability 23.0   23.0   25.0
Other Noncurrent Liabilities          
Derivatives, Fair Value [Line Items]          
Derivative liability 122.7   122.7   110.2
Fair Value Measured on a Recurring Basis | Level 3          
Changes in Level 3 Commodity Derivatives [Roll Forward]          
Transfers level 3, net 0.0 $ 0.0 0.0 $ 0.0  
Fair Value Measured on a Recurring Basis | Other Current Assets          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 78.4   78.4   75.5
Netting, asset [2] (33.1)   (33.1)   (43.0)
Derivative asset 45.3   45.3   32.5
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 1          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 2.5   2.5   1.6
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 2          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 36.4   36.4   41.6
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 3          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 39.5   39.5   32.3
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 47.6   47.6   64.7
Netting, asset [2] (31.7)   (31.7)   (42.1)
Derivative asset 15.9   15.9   22.6
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 29.7   29.7   8.7
Netting, asset [2] (1.4)   (1.4)   (0.9)
Derivative asset 28.3   28.3   7.8
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 1.1   1.1   2.1
Netting, asset [2] 0.0   0.0   0.0
Derivative asset 1.1   1.1   2.1
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 2.5   2.5   1.6
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 0.0   0.0   0.0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 0.0   0.0   0.0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 35.3   35.3   39.5
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 0.0   0.0   0.0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 1.1   1.1   2.1
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 9.8   9.8   23.6
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 29.7   29.7   8.7
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 0.0   0.0   0.0
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 64.1   64.1   43.9
Netting, asset [2] (37.2)   (37.2)   (34.8)
Derivative asset 26.9   26.9   9.1
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 1          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 9.7   9.7   8.5
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 2          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 30.7   30.7   29.4
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 3          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 23.7   23.7   6.0
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 64.1   64.1   43.9
Netting, asset [2] (37.2)   (37.2)   (34.8)
Derivative asset 26.9   26.9   9.1
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 1 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 9.7   9.7   8.5
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 2 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 30.7   30.7   29.4
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 3 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 23.7   23.7   6.0
Fair Value Measured on a Recurring Basis | Other Current Liabilities          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 42.1   42.1   62.0
Netting, liability [2] (33.0)   (33.0)   (50.8)
Derivative liability 9.1   9.1   11.2
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 1          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 3.2   3.2   2.2
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 2          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 29.4   29.4   43.8
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 3          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 9.5   9.5   16.0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 40.2   40.2   59.3
Netting, liability [2] (31.6)   (31.6)   (49.8)
Derivative liability 8.6   8.6   9.5
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 1.4   1.4   1.0
Netting, liability [2] (1.4)   (1.4)   (1.0)
Derivative liability 0.0   0.0   0.0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 0.5   0.5   1.7
Netting, liability [2] 0.0   0.0   0.0
Derivative liability 0.5   0.5   1.7
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 1 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 3.2   3.2   2.2
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 1 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 0.0   0.0   0.0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 1 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 0.0   0.0   0.0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 2 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 28.9   28.9   42.1
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 2 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 0.0   0.0   0.0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 2 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 0.5   0.5   1.7
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 3 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 8.1   8.1   15.0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 3 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 1.4   1.4   1.0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 3 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 0.0   0.0   0.0
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 73.1   73.1   51.3
Netting, liability [2] (5.7)   (5.7)   (3.3)
Derivative liability 67.4   67.4   48.0
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 1          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 3.0   3.0   2.0
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 2          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 51.8   51.8   32.3
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 3          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 18.3   18.3   17.0
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 73.1   73.1   51.3
Netting, liability [2] (5.7)   (5.7)   (3.3)
Derivative liability 67.4   67.4   48.0
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Level 1 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 3.0   3.0   2.0
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Level 2 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 51.8   51.8   32.3
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Level 3 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 18.3   18.3   17.0
Fair Value, Measurements, Nonrecurring | Other Noncurrent Assets | PPAs          
Derivatives, Fair Value [Line Items]          
Derivative asset [3] 0.1   0.1   0.1
Fair Value, Measurements, Nonrecurring | Other Current Liabilities | PPAs          
Derivatives, Fair Value [Line Items]          
Derivative liability [3] 13.9   13.9   13.8
Fair Value, Measurements, Nonrecurring | Other Noncurrent Liabilities | PPAs          
Derivatives, Fair Value [Line Items]          
Derivative liability [3] $ 55.3   $ 55.3   $ 62.2
[1] These amounts relate to commodity derivatives held at the end of the period.
[2] NSP-Minnesota nets derivative instruments and related collateral in its consolidated balance sheet when supported by a legally enforceable master netting agreement, and all derivative instruments and related collateral amounts were subject to master netting agreements at June 30, 2020 and Dec. 31, 2019. At both June 30, 2020 and Dec. 31, 2019, derivative assets and liabilities include $31.5 million of obligations to return cash collateral. At June 30, 2020, no derivative assets and liabilities include the rights to reclaim cash collateral and $7.9 million at Dec. 31, 2019. The counterparty netting excludes settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.
[3] During 2006, Xcel Energy qualified these contracts under the normal purchase exception. Based on this qualification, the contracts are no longer adjusted to fair value and the previous carrying value of these contracts will be amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities.