Segments and Related Information

12 Months Ended

Dec. 31, 2011

Segments and Related Information [Abstract]

Segments and Related Information

16.  Segments and Related Information

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 are each separately and regularly reviewed by Xcel Energy's chief operating decision maker.  Xcel Energy evaluates performance by each utility subsidiary based on profit or loss generated from the product or service provided.  These segments are managed separately because the revenue streams are dependent upon regulated rate recovery, which is separately determined for each segment.

Given the similarity of the regulated electric and regulated natural gas utility operations of its utility subsidiaries, Xcel Energy has the following reportable segments: regulated electric utility, regulated natural gas utility and all other.

· Xcel Energy's 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.  Regulated electric utility also includes commodity trading operations.

· Xcel Energy's regulated natural gas utility segment transports, stores and distributes natural gas primarily in portions of Minnesota, Wisconsin, North Dakota, Michigan and Colorado.

· Revenues from operating segments not included above are below the necessary quantitative thresholds and are therefore included in the all other category.  Those primarily include steam revenue, appliance repair services, nonutility 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.

Xcel Energy had equity investments in unconsolidated subsidiaries of $92.7 million and $97.6 million as of Dec. 31, 2011 and 2010, respectively, included in the regulated natural gas segment.

Asset and capital expenditure information is not provided for Xcel Energy's reportable segments because as an integrated electric and natural gas utility, Xcel Energy operates significant assets that are not dedicated to a specific business segment, and 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.

To report income from continuing operations for regulated electric and regulated natural gas utility segments, the majority of costs are directly assigned to each segment.  However, some costs, such as common depreciation, common O&M expenses and interest expense are allocated based on cost causation allocators.  A general allocator is used for certain general and administrative expenses, including office supplies, rent, property insurance and general advertising.

The accounting policies of the segments are the same as those described in Note 1.

	Regulated		Regulated		All			Reconciling			Consolidated
(Thousands of Dollars)	Electric		Natural Gas		Other			Eliminations			Total
2011
Operating revenues from external customers	$	8,766,593	$	1,811,926	$	76,251		$	-		$	10,654,770
Intersegment revenues		1,269		2,358		-			(3,627	)		-
Total revenues	$	8,767,862	$	1,814,284	$	76,251		$	(3,627	)	$	10,654,770
Depreciation and amortization	$	773,392	$	106,870	$	10,357		$	-		$	890,619
Interest charges and financing costs		402,668		52,115		108,134			-			562,917
Income tax expense (benefit)		473,848		57,408		(62,940	)		-			468,316
Income (loss) from continuing operations		788,967		101,842		(49,435	)		-			841,374

	Regulated		Regulated		All			Reconciling			Consolidated
(Thousands of Dollars)	Electric		Natural Gas		Other			Eliminations			Total
2010
Operating revenues from external customers	$	8,451,845	$	1,782,582	$	76,520		$	-		$	10,310,947
Intersegment revenues		1,015		5,653		-			(6,668	)		-
Total revenues	$	8,452,860	$	1,788,235	$	76,520		$	(6,668	)	$	10,310,947
Depreciation and amortization	$	748,815	$	99,220	$	10,847		$	-		$	858,882
Interest charges and financing costs		380,074		49,314		119,233			-			548,621
Income tax expense (benefit)		434,756		59,790		(57,911	)		-			436,635
Income (loss) from continuing operations		665,155		114,554		(27,753	)		-			751,956

	Regulated		Regulated		All			Reconciling			Consolidated
(Thousands of Dollars)	Electric		Natural Gas		Other			Eliminations			Total
2009
Operating revenues from external customers	$	7,704,723	$	1,865,703	$	73,877		$	-		$	9,644,303
Intersegment revenues		816		2,931		-			(3,747	)		-
Total revenues	$	7,705,539	$	1,868,634	$	73,877		$	(3,747	)	$	9,644,303
Depreciation and amortization	$	711,090	$	95,633	$	11,329		$	-		$	818,052
Interest charges and financing costs		371,525		44,572		105,758			-			521,855
Income tax expense (benefit)		357,128		81,956		(67,770	)		-			371,314
Income (loss) from continuing operations		611,851		108,948		(35,275	)		-			685,524