XCEL ENERGY INC000007290312/312021FYFALSEP1YP5YP1YP1YP2YP1YP2YP8YP1YP2YP1YP2YP2YP1YP2YP1YP2YP1YP2YP1YP3YP3YP3YP5Y
Quarter Ended
(Amounts in millions, except per share data)March 31, 2021June 30, 2021Sept. 30, 2021Dec. 31, 2021
Operating revenues$2,811 $2,586 $3,182 $2,947 
Operating income455 422 813 426 
Net income295 287 603 288 
EPS total — basic
$0.56 $0.54 $1.15 $0.54 
EPS total — diluted
0.560.541.140.54
Cash dividends declared per common share0.430.430.430.43
Quarter Ended
(Amounts in millions, except per share data)March 31, 2020June 30, 2020Sept. 30, 2020Dec. 31, 2020
Operating revenues$2,811 $2,586 $3,182 $2,947 
Operating income455 422 813 426 
Net income295 287 603 288 
EPS total — basic
$0.56 $0.54 $1.15 $0.54 
EPS total — diluted
0.560.541.140.54
Cash dividends declared per common share0.430.430.430.43
Quarter Ended
(Amounts in millions, except per share data)March 31, 2021June 30, 2021Sept. 30, 2021Dec. 31, 2021
Operating revenues$2,811 $2,586 $3,182 $2,947 
Operating income455 422 813 426 
Net income295 287 603 288 
EPS total — basic
$0.56 $0.54 $1.15 $0.54 
EPS total — diluted
0.560.541.140.54
Cash dividends declared per common share0.430.430.430.43
Quarter Ended
(Amounts in millions, except per share data)March 31, 2020June 30, 2020Sept. 30, 2020Dec. 31, 2020
Operating revenues$2,811 $2,586 $3,182 $2,947 
Operating income455 422 813 426 
Net income295 287 603 288 
EPS total — basic
$0.56 $0.54 $1.15 $0.54 
EPS total — diluted
0.560.541.140.54
Cash dividends declared per common share0.430.430.430.43
2,8112,5863,1822,9474554228134262952876032880.560.541.150.540.560.541.140.540.430.430.430.432,8112,5863,1822,9474554228134262952876032880.560.541.150.540.560.541.140.540.430.430.430.43
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xel-20211231_g1.jpg
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2021 or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
001-3034
(Commission File Number)
Xcel Energy Inc.
(Exact name of registrant as specified in its charter)
Minnesota
41-0448030
(State or Other Jurisdiction of Incorporation or Organization)(IRS Employer Identification No.)
414 Nicollet Mall
Minneapolis
Minnesota
55401
(Address of Principal Executive Offices)(Zip Code)
612
330-5500
(Registrant’s Telephone Number, Including Area Code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $2.50 par value per share
XEL
Nasdaq Stock Market LLC

Securities registered pursuant to section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  No
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  Yes  No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. 
Yes  No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes  No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.  Large accelerated filer  Accelerated filer  Non-accelerated filer Smaller reporting company Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.  Yes
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes No
As of June 30, 2021, the aggregate market value of the voting common stock held by non-affiliates of the Registrant was $35,463,594,471.
As of Feb. 17, 2022, there were 544,213,730 shares of common stock outstanding, $2.50 par value.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Registrant’s definitive Proxy Statement for its 2022 Annual Meeting of Shareholders are incorporated by reference into Part III of this Form 10-K.
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TABLE OF CONTENTS
PART I
Item 1 —
Item 1A —
Item 1B —
Item 2 —
Item 3 —
Item 4 —
PART II
Item 5 —
Item 6 —
Item 7 —
Item 7A —
Item 8 —
Item 9 —
Item 9A —
Item 9B —
Item 9C —
PART III
Item 10 —
Item 11 —
Item 12 —
Item 13 —
Item 14 —
PART IV
Item 15 —
Item 16 —

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Table of Contents
PART I
ITEM 1 — BUSINESS
Definitions of Abbreviations
Xcel Energy Inc.’s Subsidiaries and Affiliates (current and former)
Capital ServicesCapital Services, LLC
EloigneEloigne Company
e primee prime inc.
NSP-MinnesotaNorthern States Power Company, a Minnesota corporation
NSP SystemThe electric production and transmission system of NSP-Minnesota and NSP-Wisconsin operated on an integrated basis and managed by NSP-Minnesota
NSP-WisconsinNorthern States Power Company, a Wisconsin corporation
Operating companiesNSP-Minnesota, NSP-Wisconsin, PSCo and SPS
PSCoPublic Service Company of Colorado
SPSSouthwestern Public Service Co.
Utility subsidiariesNSP-Minnesota, NSP-Wisconsin, PSCo and SPS
WGIWestGas InterState, Inc.
WYCOWYCO Development, LLC
Xcel EnergyXcel Energy Inc. and its subsidiaries
Federal and State Regulatory Agencies
CPUCColorado Public Utilities Commission
DOCMinnesota Department of Commerce
DOEUnited States Department of Energy
DOTUnited States Department of Transportation
EPAUnited States Environmental Protection Agency
FERCFederal Energy Regulatory Commission
IRSInternal Revenue Service
MPSCMichigan Public Service Commission
MPUCMinnesota Public Utilities Commission
NDPSCNorth Dakota Public Service Commission
NERCNorth American Electric Reliability Corporation
NMPRC