Commitment and Contingencies (Tables)

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Finance Lease, Liability, Fiscal Year Maturity

Commitments under operating and finance leases as of Sept. 30, 2023:

(Millions of Dollars)	PPA Operating Leases		Other Operating Leases		Total Operating Leases		Finance  Leases (a)
Total minimum obligation	$	1,108	$	293	$	1,401	$	220
Interest component of obligation	(139)		(101)		(240)		(156)
Present value of minimum obligation	$	969	192		1,161		64
Less current portion					(231)		(2)
Noncurrent operating and finance lease liabilities					$	930	$	62

(a)Excludes certain amounts related to Xcel Energy’s 50% ownership interest in WYCO.

Lease, Cost

Components of lease expense:

	Three Months Ended Sept. 30
(Millions of Dollars)	2023		2022
Operating leases
PPA capacity payments	$	61	$	59
Other operating leases (a)	11		8
Total operating lease expense (b)	$	72	$	67
Finance leases
Amortization of ROU assets	$	1	$	1
Interest expense on lease liability	4		4
Total finance lease expense	$	5	$	5

(a)Includes short-term lease expense of $1 million for both 2023 and 2022.

(b)PPA capacity payments are included in electric fuel and purchased power on the consolidated statements of income. Expense for other operating leases is included in O&M expense and electric fuel and purchased power.

	Nine Months Ended Sept. 30
(Millions of Dollars)	2023		2022
Operating leases
PPA capacity payments	$	182	$	182
Other operating leases (a)	35		28
Total operating lease expense (b)	$	217	$	210
Finance leases
Amortization of ROU assets	$	2	$	3
Interest expense on lease liability	12		12
Total finance lease expense	$	14	$	15

(a)Includes short-term lease expense of $6 million and $4 million for 2023 and 2022, respectively.

(b)PPA capacity payments are included in electric fuel and purchased power on the consolidated statements of income. Expense for other operating leases is included in O&M expense and electric fuel and purchased power.