Schedule I, Condensed Financial Statements of Xcel Energy Inc

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule I, Condensed Financial Information

XCEL ENERGY INC. CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (amounts in thousands, except per share data)
	Year Ended Dec. 31
	2015			2014			2013
Income
Equity earnings of subsidiaries	$	1,045,788		$	1,077,714		$	1,018,783
Total income	1,045,788			1,077,714			1,018,783
Expenses and other deductions
Operating expenses	19,865			19,756			18,513
Other income	(1,242		)	(537		)	(206		)
Interest charges and financing costs	91,801			84,830			102,914
Total expenses and other deductions	110,424			104,049			121,221
Income before income taxes	935,364			973,665			897,562
Income tax benefit	(49,121		)	(47,641		)	(50,672		)
Net income	$	984,485		$	1,021,306		$	948,234
Other Comprehensive Income
Pension and retiree medical benefits, net of tax of $(2,777), $(2,528) and $5,897, respectively	$	(4,380	)	$	(4,022	)	$	4,714
Derivative instruments, net of tax of $1,764, $1,390 and $2,558, respectively	2,766			2,125			1,488
Other, net of tax of $0, $21 and $117, respectively	—			33			176
Other comprehensive (loss) income	(1,614		)	(1,864		)	6,378
Comprehensive income	$	982,871		$	1,019,442		$	954,612
Weighted average common shares outstanding:
Basic	507,768			503,847			496,073
Diluted	508,168			504,117			496,532
Earnings per average common share:
Basic	$	1.94		$	2.03		$	1.91
Diluted	1.94			2.03			1.91
Cash dividends declared per common share	1.28			1.20			1.11
See Notes to Condensed Financial Statements

XCEL ENERGY INC. CONDENSED STATEMENTS OF CASH FLOWS (amounts in thousands)
	Year Ended Dec. 31
	2015			2014			2013
Operating activities
Net cash provided by operating activities	$	704,823		$	842,832		$	545,177
Investing activities
Capital contributions to subsidiaries	(820,382		)	(422,459		)	(535,653		)
Investments in the utility money pool	(971,200		)	(1,148,000		)	(1,778,000		)
Return of investments in the utility money pool	987,200			1,204,000			1,706,000
Other, net	(16		)	—			—
Net cash used in investing activities	(804,398		)	(366,459		)	(607,653		)
Financing activities
Proceeds from (repayment of) short-term borrowings, net	203,500			(95,500		)	297,000
Proceeds from issuance of long-term debt	495,449			—			447,595
Repayment of long-term debt	—			—			(400,000		)
Proceeds from issuance of common stock	7,011			180,798			231,767
Dividends paid	(606,574		)	(561,411		)	(514,042		)
Net cash provided by (used in) financing activities	99,386			(476,113		)	62,320
Net change in cash and cash equivalents	(189		)	260			(156		)
Cash and cash equivalents at beginning of period	706			446			602
Cash and cash equivalents at end of period	$	517		$	706		$	446
See Notes to Condensed Financial Statements

XCEL ENERGY INC. CONDENSED BALANCE SHEETS (amounts in thousands)
	Dec. 31
	2015		2014
Assets
Cash and cash equivalents	$	517	$	706
Accounts receivable from subsidiaries	315,866		270,921
Other current assets	35,701		47,424
Total current assets	352,084		319,051
Investment in subsidiaries	13,236,758		12,206,575
Other assets	173,136		114,518
Total other assets	13,409,894		12,321,093
Total assets	$	13,761,978	$	12,640,144
Liabilities and Equity
Current portion of long-term debt	$	450,000	$	—
Dividends payable	162,410		151,720
Short-term debt	584,000		380,500
Other current liabilities	80,526		65,314
Total current liabilities	1,276,936		597,534
Other liabilities	35,694		30,227
Total other liabilities	35,694		30,227
Commitments and contingencies
Capitalization
Long-term debt	1,848,428		1,797,901
Common stockholders’ equity	10,600,920		10,214,482
Total capitalization	12,449,348		12,012,383
Total liabilities and equity	$	13,761,978	$	12,640,144
See Notes to Condensed Financial Statements

NOTES TO CONDENSED FINANCIAL STATEMENTS

Incorporated by reference are Xcel Energy’s consolidated statements of common stockholders’ equity and OCI in Part II, Item 8.

Basis of Presentation — The condensed financial information of Xcel Energy Inc. is presented to comply with Rule 12-04 of Regulation S-X. Xcel Energy Inc.’s investments in subsidiaries are presented under the equity method of accounting. Under this method, the assets and liabilities of subsidiaries are not consolidated. The investments in net assets of the subsidiaries are recorded in the balance sheets. The income from operations of the subsidiaries is reported on a net basis as equity in income of subsidiaries.

As a holding company with no business operations, Xcel Energy Inc.’s assets consist primarily of investments in its utility subsidiaries. Xcel Energy Inc.’s material cash inflows are only from dividends and other payments received from its utility subsidiaries and the proceeds raised from the sale of debt and equity securities. The ability of its utility subsidiaries to make dividend and other payments is subject to the availability of funds after taking into account their respective funding requirements, the terms of their respective indebtedness, the regulations of the FERC under the Federal Power Act, and applicable state laws. Management does not expect maintaining these requirements to have an impact on Xcel Energy Inc.’s ability to pay dividends at the current level in the foreseeable future. Each of its utility subsidiaries, however, is legally distinct and has no obligation, contingent or otherwise, to make funds available to Xcel Energy Inc.

Related Party Transactions — Xcel Energy Inc. presents its related party receivables net of payables. Accounts receivable and payable with affiliates at Dec. 31 were:

	2015				2014
(Thousands of Dollars)	Accounts Receivable		Accounts Payable		Accounts Receivable		Accounts Payable
NSP-Minnesota	$	58,952	$	—	$	79,390	$	—
NSP-Wisconsin	17,391		—		20,117		—
PSCo	114,524		—		38,646		—
SPS	21,357		—		28,062		—
Xcel Energy Services Inc.	73,054		—		75,954		—
Xcel Energy Ventures Inc.	20,003		—		20,082		—
Other subsidiaries of Xcel Energy Inc.	10,585		—		8,670		—
	$	315,866	$	—	$	270,921	$	—

Dividends — Cash dividends paid to Xcel Energy Inc. by its subsidiaries were $784 million, $857 million and $606 million for the years ended Dec. 31, 2015, 2014 and 2013, respectively. These cash receipts are included in operating cash flows of the condensed statements of cash flows.

Money Pool— Xcel Energy received FERC approval to establish a utility money pool arrangement with the utility subsidiaries, subject to receipt of required state regulatory approvals. The utility money pool allows for short-term investments in and borrowings between the utility subsidiaries. Xcel Energy Inc. may make investments in the utility subsidiaries at market-based interest rates; however, the money pool arrangement does not allow the utility subsidiaries to make investments in Xcel Energy Inc. The following tables present money pool lending for Xcel Energy Inc.:

(Amounts in Millions, Except Interest Rates)	Three Months Ended Dec. 31, 2015
Lending limit	$	250
Loan outstanding at period end	—
Average loan outstanding	38
Maximum loan outstanding	99
Weighted average interest rate, computed on a daily basis	0.38		%
Weighted average interest rate at end of period	N/A
Money pool interest income	$	—

(Amounts in Millions, Except Interest Rates)	Year Ended Dec. 31, 2015			Year Ended Dec. 31, 2014			Year Ended Dec. 31, 2013
Lending limit	$	250		$	250		$	250
Loan outstanding at period end	—			16			72
Average loan outstanding	27			25			88
Maximum loan outstanding	141			250			243
Weighted average interest rate, computed on a daily basis	0.42		%	0.22		%	0.30		%
Weighted average interest rate at end of period	N/A			0.45			0.25
Money pool interest income	$	0.1		$	0.1		$	0.3

See Xcel Energy’s notes to the consolidated financial statements in Part II, Item 8 for other disclosures.