Commitment and Contingencies (Tables)

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Finance Lease, Liability, Fiscal Year Maturity

Commitments under operating and finance leases as of June 30, 2024:

(Millions of Dollars)	PPA Operating Leases		Other Operating Leases		Total Operating Leases		Finance  Leases (a)
Total minimum obligation	$	1,107	$	360	$	1,467	$	213
Interest component of obligation	(135)		(145)		(280)		(150)
Present value of minimum obligation	$	972	215		1,187		63
Less current portion					(226)		(2)
Noncurrent operating and finance lease liabilities					$	961	$	61

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

Lease, Cost

Components of lease expense:

	Three Months Ended June 30
(Millions of Dollars)	2024		2023
Operating leases
PPA capacity payments	$	57	$	61
Other operating leases (a)	11		12
Total operating lease expense (b)	$	68	$	73
Finance leases
Amortization of ROU assets	$	1	$	—
Interest expense on lease liability	3		4
Total finance lease expense	$	4	$	4

(a)Includes short-term lease expense of $1 million and $3 million for 2024 and 2023, 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.

	Six Months Ended June 30
(Millions of Dollars)	2024		2023
Operating leases
PPA capacity payments	$	115	$	121
Other operating leases (a)	22		24
Total operating lease expense (b)	$	137	$	145
Finance leases
Amortization of ROU assets	$	2	$	1
Interest expense on lease liability	7		8
Total finance lease expense	$	9	$	9

(a)Includes short-term lease expense of $2 million and $5 million for 2024 and 2023, 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.