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Borrowings and Other Financing Instruments Borrowings and Other Financing Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Stock by Class [Table Text Block]

Capital Stock — Preferred stock authorized/outstanding:



	Preferred Stock Authorized (Shares)	Par Value of Preferred Stock		Preferred Stock Outstanding (Shares) 2019 and 2018
Xcel Energy Inc.	7,000,000	$	100	—
PSCo	10,000,000	0.01		—
SPS	10,000,000	1.00		—

Xcel Energy Inc. had the following common stock authorized/outstanding:



Common Stock Authorized (Shares)	Par Value of Common Stock		Common Stock Outstanding (Shares) as of Dec. 31, 2019	Common Stock Outstanding (Shares) as of Dec. 31, 2018
1,000,000,000	$	2.50	524,539,000	514,036,787

Commercial Paper

Term loan borrowings as of Dec. 31, 2019:



(Millions of Dollars)	Limit		Amount Used		Available
Xcel Energy Inc.	$	500	$	500	$	—

Commercial paper and term loan borrowings outstanding:



(Millions of Dollars, Except Interest Rates)	Three Months Ended Dec. 31, 2019			Year Ended Dec. 31
(Millions of Dollars, Except Interest Rates)	Three Months Ended Dec. 31, 2019			2019			2018			2017
Borrowing limit	$	3,600		$	3,600		$	3,250		$	3,250
Amount outstanding at period end	595			595			1,038			814
Average amount outstanding	663			1,115			788			644
Maximum amount outstanding	945			1,780			1,349			1,247
Weighted average interest rate, computed on a daily basis	2.40		%	2.72		%	2.34		%	1.35		%
Weighted average interest rate at end of period	2.34			2.34			2.97			1.90

Schedule of Debt To Total Capitalization Ratio

Features of the credit facilities:



	Debt-to-Total Capitalization Ratio^(a)				Amount Facility May Be Increased (millions)		Additional Periods for Which a One-Year Extension May Be Requested ^(b)
	2019		2018
Xcel Energy Inc.^(c)	58	%	58	%	$	200	2
NSP-Wisconsin	48		48		N/A		1
NSP-Minnesota	48		48		100		2
SPS	46		46		50		2
PSCo	44		46		100		2


^(a)	Each credit facility has a financial covenant requiring that the debt-to-total capitalization ratio be less than or equal to 65%.


^(b)	All extension requests are subject to majority bank group approval.

^(c)

The Xcel Energy Inc. credit facility has a cross-default provision that Xcel Energy Inc. will be in default on its borrowings under the facility if it or any of its subsidiaries (except NSP-Wisconsin as long as its total assets do not comprise more than 15% of Xcel Energy’s consolidated total assets) default on indebtedness in an aggregate principal amount exceeding $75 million.

Credit Facilities

Xcel Energy Inc. and its utility subsidiaries had the following committed credit facilities available as of Dec. 31, 2019:



(Millions of Dollars)	Credit Facility ^(a)		Drawn ^(b)		Available
Xcel Energy Inc.	$	1,250	$	—	$	1,250
PSCo	700		9		691
NSP-Minnesota	500		2		498
SPS	500		40		460
NSP-Wisconsin	150		65		85
Total	$	3,100	$	116	$	2,984


^(a)	These credit facilities mature in June 2024.

^(b)

Includes outstanding commercial paper and letters of credit.

As of Dec. 31, 2019, outstanding letters of credit under the Bilateral Credit Agreement were as follows:



(Millions of Dollars)	Limit		Amount Used		Available
NSP-Minnesota	$	75	$	22	$	53

Schedule of Maturities of Long-term Debt

Maturities of long-term debt:



(Millions of Dollars)
2020	$	702
2021	421
2022	900
2023	650
2024	552

Capital Stock

Long term debt obligations for Xcel Energy Inc. and its utility subsidiaries as of Dec. 31 (Millions of Dollars):



Xcel Energy Inc.
Financing Instrument	Interest Rate		Maturity Date	2019			2018
Unsecured senior notes ^(d)	4.70	%	May 15, 2020	$	—		$	550
Unsecured senior notes	2.40		March 15, 2021	400			400
Unsecured senior notes	2.60		March 15, 2022	300			300
Unsecured senior notes	3.30		June 1, 2025	250			250
Unsecured senior notes	3.30		June 1, 2025	350			350
Unsecured senior notes	3.35		Dec. 1, 2026	500			500
Unsecured senior notes ^(a)	4.00		June 15, 2028	130			—
Unsecured senior notes ^(b)	4.00		June 15, 2028	500			500
Unsecured senior notes ^(a)	2.60		Dec. 1, 2029	500			—
Unsecured senior notes	6.50		July 1, 2036	300			300
Unsecured senior notes	4.80		Sept. 15, 2041	250			250
Unsecured senior notes ^(a)	3.50		Dec. 1, 2049	500			—
Elimination of PSCo capital lease obligation with affiliates ^(c)				—			(60		)
Unamortized discount				(5		)	(5		)
Unamortized debt issuance cost				(28		)	(21		)
Current maturities (capital lease obligation) ^(c)				—			2
Total long-term debt				$	3,947		$	3,316


^(a)	2019 financing.


^(b)	2018 financing.


^(c)	Xcel Energy adopted ASC 842 on Jan. 1, 2019, which refers to capital leases as finance leases. Under ASC 842, the present value of future finance lease payments is included in other current liabilities and other noncurrent liabilities rather than debt.


^(d)	Note was redeemed on Dec. 23, 2019.



NSP-Minnesota
Financing Instrument	Interest Rate		Maturity Date	2019			2018
First mortgage bonds	2.20	%	Aug. 15, 2020	$	300		$	300
First mortgage bonds	2.15		Aug. 15, 2022	300			300
First mortgage bonds	2.60		May 15, 2023	400			400
First mortgage bonds	7.13		July 1, 2025	250			250
First mortgage bonds	6.50		March 1, 2028	150			150
First mortgage bonds	5.25		July 15, 2035	250			250
First mortgage bonds	6.25		June 1, 2036	400			400
First mortgage bonds	6.20		July 1, 2037	350			350
First mortgage bonds	5.35		Nov. 1, 2039	300			300
First mortgage bonds	4.85		Aug. 15, 2040	250			250
First mortgage bonds	3.40		Aug. 15, 2042	500			500
First mortgage bonds	4.13		May 15, 2044	300			300
First mortgage bonds	4.00		Aug. 15, 2045	300			300
First mortgage bonds	3.60		May 15, 2046	350			350
First mortgage bonds	3.60		Sept. 15, 2047	600			600
First mortgage bonds ^(a)	2.90		March 1, 2050	600			—
Unamortized discount				(31		)	(21		)
Unamortized debt issuance cost				(48		)	(42		)
Current maturities				(300		)	—
Total long-term debt				$	5,221		$	4,937


^(a)	2019 financing.



NSP-Wisconsin
Financing Instrument	Interest Rate		Maturity Date	2019			2018
City of La Crosse resource recovery bond	6.00	%	Nov 1, 2021	$	19		$	19
First mortgage bonds	3.30		June 15, 2024	100			100
First mortgage bonds	3.30		June 15, 2024	100			100
First mortgage bonds	6.38		Sept. 1, 2038	200			200
First mortgage bonds	3.70		Oct. 1, 2042	100			100
First mortgage bonds	3.75		Dec. 1, 2047	100			100
First mortgage bonds ^(a)	4.20		Sept. 1, 2048	200			200
Unamortized discount				(3		)	(3		)
Unamortized debt issuance cost				(8		)	(9		)
Total long-term debt				$	808		$	807


^(a)	2018 financing.



PSCo
Financing Instrument	Interest Rate		Maturity Date	2019			2018
First mortgage bonds ^(d)	5.13	%	June 1, 2019	$	—		$	400
First mortgage bonds	3.20		Nov. 15, 2020	400			400
First mortgage bonds	2.25		Sept. 15, 2022	300			300
First mortgage bonds	2.50		March 15, 2023	250			250
First mortgage bonds	2.90		May 15, 2025	250			250
First mortgage bonds ^(b)	3.70		June 15, 2028	350			350
First mortgage bonds	6.25		Sept. 1, 2037	350			350
First mortgage bonds	6.50		Aug. 1, 2038	300			300
First mortgage bonds	4.75		Aug. 15, 2041	250			250
First mortgage bonds	3.60		Sept. 15, 2042	500			500
First mortgage bonds	3.95		March 15, 2043	250			250
First mortgage bonds	4.30		March 15, 2044	300			300
First mortgage bonds	3.55		June 15, 2046	250			250
First mortgage bonds	3.80		June 15, 2047	400			400
First mortgage bonds ^(b)	4.10		June 15, 2048	350			350
First mortgage bonds ^(a)	4.05		Sept. 15, 2049	400			—
First mortgage bonds^(a)	3.20		March 1, 2050	550			—
Capital lease obligations ^(c)	11.20 - 14.30		2025 - 2060	—			145
Unamortized discount				(24		)	(14		)
Unamortized debt issuance cost				(41		)	(33		)
Current maturities				(400		)	(406		)
Total long-term debt				$	4,985		$	4,592


^(a)	2019 financing.


^(b)	2018 financing.


^(c)	PSCo adopted ASC 842 on Jan. 1, 2019, which refers to capital leases as finance leases. Under ASC 842, the present value of future finance lease payments is included in other current liabilities and other noncurrent liabilities rather than debt.

^(d)

Bond was redeemed on March 29, 2019.

Other Capital Restrictions

Amounts authorized to issue as of Dec. 31, 2019:



(Millions of Dollars)	Long-Term Debt			Short-Term Debt
NSP-Minnesota	52.93% of total capitalization		^(a)	$	1,905	^(a)
NSP-Wisconsin	$	—	^(b)	150
SPS	—		^(c)	600
PSCo	150			800


^(a)	NSP-Minnesota has authorization to issue long-term securities provided the equity-to-total capitalization remains within the required range, and to issue short-term debt provided it does not exceed 15% of total capitalization.


^(b)	NSP-Wisconsin filed for additional long-term debt authorization in December 2019.

^(c)

SPS filed for additional long-term debt authorization in February 2020.

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]

Requirements and actuals as of Dec. 31, 2019:



	Equity to Total Capitalization Ratio Required Range				Equity to Total Capitalization Ratio Actual
	Low		High		2019
NSP-Minnesota	47.1	%	57.5	%	52.3	%
NSP-Wisconsin	51.5		N/A		51.8
SPS ^(a)	45.0		55.0		54.4


^(a)	Excludes short-term debt.



(Amounts in Millions)	Unrestricted Retained Earnings		Total Capitalization		Limit on Total Capitalization
NSP-Minnesota	$	1,147	$	11,634	$	12,700
NSP-Wisconsin ^(a)	12		1,827		N/A
SPS^(b)	535		5,304		N/A


^(a)	Cannot pay annual dividends in excess of approximately $55 million if its average equity-to-total capitalization ratio falls below the commission authorized level.

^(b)

May not pay a dividend that would cause a loss of its investment grade bond rating.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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