Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

Xcel Energy evaluates performance by each utility subsidiary based on profit or loss generated from the product or service provided, including the regulated electric utility operating results of NSP-Minnesota, NSP-Wisconsin, PSCo and SPS, as well as the regulated natural gas utility operating results of NSP-Minnesota, NSP-Wisconsin and PSCo. These segments are managed separately because the revenue streams are dependent upon regulated rate recovery, which is separately determined for each segment.

Xcel Energy has the following reportable segments:

•Regulated Electric — The regulated electric utility segment generates, transmits and distributes electricity in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas and New Mexico. In addition, this segment includes sales for resale and provides wholesale transmission service to various entities in the United States. The regulated electric utility segment also includes wholesale commodity and trading operations; and

•Regulated Natural Gas — The regulated natural gas utility segment transports, stores and distributes natural gas primarily in portions of Minnesota, Wisconsin, North Dakota, Michigan and Colorado.

Xcel Energy presents Other, which includes operating segments with revenues below the necessary quantitative thresholds. Those operating segments primarily include steam revenue, appliance repair services, non-utility real estate activities, revenues associated with processing solid waste into refuse-derived fuel and investments in rental housing projects that qualify for low-income housing tax credits and the operations of MEC.

Xcel Energy had equity investments in unconsolidated subsidiaries of $155 million as of June 30, 2020 and Dec. 31, 2019 included in the natural gas utility and all other segments.

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.

Xcel Energy’s segment information for the three and six months ended June 30:

	Three Months Ended June 30
(Millions of Dollars)	2020		2019
Regulated Electric
Operating revenues from external customers	$	2,286	$	2,249
Intersegment revenue	1		1
Total revenues	$	2,287	$	2,250
Net income	289		249
Regulated Natural Gas
Operating revenues from external customers	$	280	$	308
Net income	20		23
All Other
Total operating revenue	$	20	$	20
Net loss	(22)		(34)
Consolidated Total
Total revenue	$	2,587	$	2,578
Reconciling eliminations	(1)		(1)
Total operating revenues	$	2,586	$	2,577
Net income	287		238

	Six Months Ended June 30
(Millions of Dollars)	2020		2019
Regulated Electric
Operating revenues from external customers	$	4,489	$	4,574
Intersegment revenue	1		1
Total revenues	$	4,490	$	4,575
Net income	516		482
Regulated Natural Gas
Operating revenues from external customers	$	863	$	1,102
Intersegment revenue	1		1
Total revenues	$	864	$	1,103
Net income	111		128
All Other
Total operating revenue	$	45	$	42
Net loss	(45)		(57)
Consolidated Total
Total revenue	$	5,399	$	5,720
Reconciling eliminations	(2)		(2)
Total operating revenues	$	5,397	$	5,718
Net income	582		553