Segment Information

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Segment Information

Segment Information

SPS has only one reportable segment.  SPS is a wholly owned subsidiary of Xcel Energy Inc. and operates in the regulated electric utility industry providing wholesale and retail electric service in the states of Texas and New Mexico.  Operating results from the regulated electric utility segment serve as the primary basis for the chief operating decision maker to evaluate the performance of SPS.

For the three and nine months ended Sept. 30, 2013 and 2012, SPS recognized the following:

• Revenues were $481.4 million and $471.9 million for the three months ended Sept. 30, 2013 and 2012, respectively, and $1,317.5 million and $1,192.6 million for the nine months ended Sept. 30, 2013 and 2012, respectively.

• Net income was $35.0 million and $58.2 million for the three months ended Sept. 30, 2013 and 2012, respectively, and $75.8 million and $99.9 million, for the nine months ended Sept. 30, 2013 and 2012, respectively.

• Capital expenditures during the nine months ended Sept. 30, 2013 and Sept. 30, 2012 were $423.4 million and $280.6 million, respectively.

• As of Sept. 30, 2013 and Dec. 31, 2012, SPS’ total assets were $3.9 billion and $3.5 billion, respectively.