Borrowings and Other Financing Instruments Borrowings and Other Financing Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Commercial Paper

Short-Term Debt — Xcel Energy Inc. and its utility subsidiaries meet their short-term liquidity requirements primarily through the issuance of commercial paper, term loan borrowings and letters of credit under their credit facilities.

Short-term debt borrowings outstanding for Xcel Energy were as follows:

	Three Months Ended Dec. 31, 2018			Year Ended Dec. 31
(Amounts in Millions, Except Interest Rates)				2018			2017			2016
Borrowing limit	$	3,250		$	3,250		$	3,250		$	2,750
Amount outstanding at period end	1,038			1,038			814			392
Average amount outstanding	500			788			644			485
Maximum amount outstanding	1,038			1,349			1,247			1,183
Weighted average interest rate, computed on a daily basis	2.76		%	2.34		%	1.35		%	0.74		%
Weighted average interest rate at end of period	2.97			2.97			1.90			0.95

Schedule of Debt To Total Capitalization Ratio

Features of the credit facilities:

	Debt-to-Total Capitalization Ratio(a)				Amount Facility May Be Increased (millions)		Additional Periods For Which a One-Year Extension May Be Requested (b)
	2018		2017
Xcel Energy Inc. (c)	58	%	58	%	$	200	2
NSP-Wisconsin	48		47		N/A		1
NSP-Minnesota	48		48		100		2
SPS	46		46		50		2
PSCo	46		44		100		2

^(a)  Each credit facility has a financial covenant requiring that the debt-to-total capitalization ratio be less than or equal to 65%.

^(b)  All extension requests are subject to majority bank group approval.

^(c) The Xcel Energy Inc. credit facility has a cross-default provision that Xcel Energy Inc. will be in default on its borrowings under the facility if it or any of its subsidiaries (except NSP-Wisconsin as long as its total assets do not comprise more than 15% of Xcel Energy’s consolidated total assets) default on indebtedness in an aggregate principal amount exceeding $75 million.

Credit Facilities

Xcel Energy Inc. and its utility subsidiaries had the following committed credit facilities available as of Dec. 31, 2018:

(Millions of Dollars)	Credit Facility (a)		Drawn (b)		Available
Xcel Energy Inc.	$	1,500	$	488	$	1,012
PSCo	700		317		383
NSP-Minnesota	500		187		313
SPS	400		44		356
NSP-Wisconsin	150		51		99
Total	$	3,250	$	1,087	$	2,163

^(a)  These credit facilities mature in June 2021, with the exception of Xcel Energy’s Inc.’s 364-day term loan agreement which expires in December 2019.

^(b)  Includes outstanding commercial paper, term loan borrowings and letters of credit.

Schedule of Capitalization

Long term debt obligations for Xcel Energy Inc. and its utility subsidiaries as of Dec. 31:

(Millions of Dollars)	Maturity Range	Interest Rate Range 2018	Interest Rate Range 2017	2018			2017
Xcel Energy Inc.
Unsecured senior notes	2020 - 2041	2.40% - 6.50%	1.20% - 6.50%	$	3,400		$	2,900
Elimination of PSCo capital lease obligation with affiliates				(60		)	(62		)
Unamortized discount				(5		)	(2		)
Unamortized debt issuance cost				(21		)	(20		)
Current maturities (Capital lease obligation)				2			2
Total				$	3,316		$	2,818

(Millions of Dollars)	Maturity Range	Interest Rate Range 2018	Interest Rate Range 2017	2018			2017
NSP-Minnesota
Mortgage bonds	2020 - 2047	2.15% - 7.13%	2.15% - 7.13%	$	5,000		$	5,000
Unamortized discount				(21		)	(22		)
Unamortized debt issuance cost				(42		)	(45		)
Current maturities				—			—
Total				$	4,937		$	4,933

(Millions of Dollars)	Maturity Range	Interest Rate Range 2018	Interest Rate Range 2017	2018			2017
NSP-Wisconsin
Mortgage bonds	2024 - 2048	3.3% - 6.38%	3.3% - 6.38%	$	800		$	750
City of La Crosse resource recovery bond	2021	6.00%	6.00%	19			19
Other				—			2
Unamortized discount				(3		)	(3		)
Unamortized debt issuance cost				(9		)	(7		)
Current maturities				—			(151		)
Total				$	807		$	610

(Millions of Dollars)	Maturity Range	Interest Rate Range 2018	Interest Rate Range 2017	2018			2017
PSCo
Capital lease obligations	2025 - 2060	11.20% - 14.30%	11.20% - 14.30%	$	145		$	151
Mortgage bonds	2019 - 2048	2.25% - 6.50%	2.25% - 6.50%	4,900			4,500
Unamortized discount				(14		)	(13		)
Unamortized debt issuance cost				(33		)	(29		)
Current maturities				(406		)	(306		)
Total				$	4,592		$	4,303

(Millions of Dollars)	Maturity Range	Interest Rate Range 2018	Interest Rate Range 2017	2018			2017
SPS
Mortgage bonds	2024 - 2048	3.30% - 4.50%	3.30% - 4.50%	$	1,800		$	1,500
Unsecured senior notes	2033 - 2036	6.00%	6.00% - 8.75%	350			350
Unamortized discount				(4		)	(2		)
Unamortized debt issuance cost				(20		)	(18		)
Current maturities				—			—
Total				$	2,126		$	1,830

(Millions of Dollars)	Maturity Range	Interest Rate Range 2018	Interest Rate Range 2017	2018			2017
Other Subsidiaries
Various Eloigne Co. affordable housing project notes	2019 - 2052	0.00% - 6.90%	0.00% - 7.05%	$	26		$	28
Current maturities				(1		)	(2		)
Total				$	25		$	26

Schedule of Maturities of Long-term Debt

Maturities of long-term debt:

(Millions of Dollars)
2019	$	406
2020	1,257
2021	425
2022	902
2023	653

Schedule of Long-Term Debt Issuances

2018 financings:

	Amount	Financing Instrument	Interest Rate		Maturity Date
Xcel Energy Inc.	$500 million	Senior Notes	4.00	%	June 15, 2028
PSCo	350 million	First mortgage bonds	3.70		June 15, 2028
PSCo	350 million	First mortgage bonds	4.10		June 15, 2048
NSP-Wisconsin	200 million	First mortgage bonds	4.20		Sept. 1, 2048
SPS	300 million	First mortgage bonds	4.40		Nov 15, 2048

2017 financings:

	Amount	Financing Instrument	Interest Rate		Maturity Date
PSCo	$400 million	First mortgage bonds	3.80	%	June 15, 2047
SPS	450 million	First mortgage bonds	3.70		Aug. 15, 2047
NSP-Minnesota	600 million	First mortgage bonds	3.60		Sept. 15, 2047
NSP-Wisconsin	100 million	First mortgage bonds	3.75		Dec. 1, 2047

Capital Stock

Capital Stock — Preferred stock authorized/outstanding:

	Preferred Stock Authorized (Shares)	Par Value of Preferred Stock		Preferred Stock Outstanding (Shares) 2018 and 2017
Xcel Energy Inc.	7,000,000	$	100	—
PSCo	10,000,000	0.01		—
SPS	10,000,000	1.00		—

Xcel Energy Inc. had the following common stock authorized/outstanding:

Commons Stock Authorized (Shares)		Par Value of Common Stock		Common Stock Outstanding (Shares)2018	Common Stock Outstanding (Shares) 2017
1	billion	$	2.50	514,036,787	507,762,881

Other Capital Restrictions

	Amount Authorized to Issue
	Long-Term Debt				Short-Term Debt
NSP-Minnesota	52.93% of total capitalization			(a)	$	1.725	billion	(a)
NSP-Wisconsin	$	—		(b)	150		million
SPS	—			(b)	600		million
PSCo	1.1		billion		800		million

^(a)  NSP-Minnesota has authorization to issue long-term securities provided the equity-to-total capitalization remains within the required range, and to issue short-term debt provided it does not exceed 15% of total capitalization.

^(b)  SPS and NSP-Wisconsin will file for additional long-term debt authorization.

Authorizations as of Dec. 31, 2018:

	Amount Authorized to Issue
	Long-Term Debt				Short-Term Debt
NSP-Minnesota	52.93% of total capitalization			(a)	$	1.725	billion	(a)
NSP-Wisconsin	$	—		(b)	150		million
SPS	—			(b)	600		million
PSCo	1.1		billion		800		million

^(a)  NSP-Minnesota has authorization to issue long-term securities provided the equity-to-total capitalization remains within the required range, and to issue short-term debt provided it does not exceed 15% of total capitalization.

^(b)  SPS and NSP-Wisconsin will file for additional long-term debt authorization.