Benefit Plans and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2011

Benefit Plans and Other Postretirement Benefits [Abstract]

Plan Assets Measured at Fair Value and Target Pension Asset Allocations

The following table presents the target pension asset allocations for Xcel Energy:

	2011			2010
Domestic and international equity securities		27	%		24	%
Long-duration fixed income securities		31			41
Short-to-intermediate fixed income securities		12			11
Alternative investments		27			17
Cash		3			7
Total		100	%		100	%

The following tables present, for each of the fair value hierarchy levels, Xcel Energy's pension plan assets that are measured at fair value as of Dec. 31, 2011 and 2010:

	Dec. 31, 2011
(Thousands of Dollars)	Level 1		Level 2			Level 3		Total
Cash equivalents	$	147,590	$	-		$	-	$	147,590
Derivatives		-		8,011			-		8,011
Government securities		-		301,999			-		301,999
Corporate bonds		-		606,001			-		606,001
Asset-backed securities		-		-			31,368		31,368
Mortgage-backed securities		-		-			73,522		73,522
Common stock		68,553		-			-		68,553
Private equity investments		-		-			159,363		159,363
Commingled funds		-		1,292,569			-		1,292,569
Real estate		-		-			37,106		37,106
Securities lending collateral obligation and other		-		(55,802	)		-		(55,802	)
Total	$	216,143	$	2,152,778		$	301,359	$	2,670,280

	Dec. 31, 2010
(Thousands of Dollars)	Level 1		Level 2			Level 3		Total
Cash equivalents	$	122,643	$	135,710		$	-	$	258,353
Derivatives		-		8,140			-		8,140
Government securities		-		117,522			-		117,522
Corporate bonds		-		641,807			-		641,807
Asset-backed securities		-		-			26,986		26,986
Mortgage-backed securities		-		-			113,418		113,418
Common stock		117,899		-			-		117,899
Private equity investments		-		-			122,223		122,223
Commingled funds		-		1,152,386			-		1,152,386
Real estate		-		-			73,701		73,701
Securities lending collateral obligation and other		-		(91,727	)		-		(91,727	)
Total	$	240,542	$	1,963,838		$	336,328	$	2,540,708

The following tables present, for each of the fair value hierarchy levels, Xcel Energy's postretirement benefit plan assets that are measured at fair value as of Dec. 31, 2011 and 2010:

	Dec. 31, 2011
(Thousands of Dollars)	Level 1		Level 2			Level 3		Total
Cash equivalents	$	58,037	$	-		$	-	$	58,037
Derivatives		-		13,178			-		13,178
Government securities		-		65,746			-		65,746
Corporate bonds		-		61,524			-		61,524
Asset-backed securities		-		-			7,867		7,867
Mortgage-backed securities		-		-			27,253		27,253
Preferred stock		-		423			-		423
Common stock		351		-			-		351
Private equity investments		-		-			479		479
Commingled funds		-		202,912			-		202,912
Real estate		-		-			144		144
Securities lending collateral obligation and other		-		(11,079	)		-		(11,079	)
Total	$	58,388	$	332,704		$	35,743	$	426,835

	Dec. 31, 2010
(Thousands of Dollars)	Level 1		Level 2		Level 3		Total
Cash equivalents	$	72,573	$	76,352	$	-	$	148,925
Derivatives		-		13,632		-		13,632
Government securities		-		3,402		-		3,402
Corporate bonds		-		70,752		-		70,752
Asset-backed securities		-		-		2,585		2,585
Mortgage-backed securities		-		-		19,212		19,212
Preferred stock		-		507		-		507
Commingled funds		-		102,962		-		102,962
Securities lending collateral obligation and other		-		70,253		-		70,253
Total	$	72,573	$	337,860	$	21,797	$	432,230

Changes in Level 3 Pension and Postretirement Plan Assets

The following tables present the changes in Xcel Energy's Level 3 pension plan assets for the years ended Dec. 31, 2011, 2010 and 2009:

									Purchases,
			Net Realized			Net Unrealized			Issuances, and
(Thousands of Dollars)	Jan. 1, 2011		Gains (Losses)			Gains (Losses)			Settlements, Net			Dec. 31, 2011
Asset-backed securities	$	26,986	$	2,391		$	(2,504	)	$	4,495		$	31,368
Mortgage-backed securities		113,418		1,103			(5,926	)		(35,073	)		73,522
Real estate		73,701		(629	)		20,271			(56,237	)		37,106
Private equity investments		122,223		3,971			12,412			20,757			159,363
Total	$	336,328	$	6,836		$	24,253		$	(66,058	)	$	301,359

									Purchases,
			Net Realized			Net Unrealized			Issuances, and
(Thousands of Dollars)	Jan. 1, 2010		Gains (Losses)			Gains (Losses)			Settlements, Net			Dec. 31, 2010
Asset-backed securities	$	47,825	$	3,400		$	(7,078	)	$	(17,161	)	$	26,986
Mortgage-backed securities		144,006		13,719			(19,095	)		(25,212	)		113,418
Real estate		66,704		(1,135	)		8,235			(103	)		73,701
Private equity investments		82,098		(1,008	)		(24	)		41,157			122,223
Total	$	340,633	$	14,976		$	(17,962	)	$	(1,319	)	$	336,328

									Purchases,
			Net Realized			Net Unrealized			Issuances, and
(Thousands of Dollars)	Jan. 1, 2009		Gains (Losses)			Gains (Losses)			Settlements, Net			Dec. 31, 2009
Asset-backed securities	$	77,398	$	2,365		$	45,920		$	(77,858	)	$	47,825
Mortgage-backed securities		166,610		5,531			97,939			(126,074	)		144,006
Real estate		109,289		(569	)		(42,638	)		622			66,704
Private equity investments		81,034		-			(5,682	)		6,746			82,098
Total	$	434,331	$	7,327		$	95,539		$	(196,564	)	$	340,633

The following tables present the changes in Xcel Energy's Level 3 postretirement benefit plan assets for the years ended Dec. 31, 2011, 2010 and 2009:

									Purchases,
			Net Realized			Net Unrealized			Issuances, and
(Thousands of Dollars)	Jan. 1, 2011		Gains (Losses)			Gains (Losses)			Settlements, Net		Dec. 31, 2011
Asset-backed securities	$	2,585	$	(10	)	$	(664	)	$	5,956	$	7,867
Mortgage-backed securities		19,212		(1,669	)		2,623			7,087		27,253
Real estate		-		(2	)		(34	)		180		144
Private equity investments		-		12			53			414		479
Total	$	21,797	$	(1,669	)	$	1,978		$	13,637	$	35,743

								Purchases,
			Net Realized			Net Unrealized		Issuances, and
(Thousands of Dollars)	Jan. 1, 2010		Gains (Losses)			Gains (Losses)		Settlements, Net			Dec. 31, 2010
Asset-backed securities	$	8,293	$	(259	)	$	2,073	$	(7,522	)	$	2,585
Mortgage-backed securities		47,078		(927	)		15,642		(42,581	)		19,212
Total	$	55,371	$	(1,186	)	$	17,715	$	(50,103	)	$	21,797

							Purchases,
			Net Realized		Net Unrealized		Issuances, and
(Thousands of Dollars)	Jan. 1, 2009		Gains (Losses)		Gains (Losses)		Settlements, Net			Dec. 31, 2009
Asset-backed securities	$	8,705	$	4	$	1,025	$	(1,441	)	$	8,293
Mortgage-backed securities		69,988		733		2,289		(25,932	)		47,078
Total	$	78,693	$	737	$	3,314	$	(27,373	)	$	55,371

Change in Projected Benefit Obligation

Benefit Obligations - A comparison of the actuarially computed pension benefit obligation and plan assets for Xcel Energy is presented in the following table:

(Thousands of Dollars)	2011			2010
Accumulated Benefit Obligation at Dec. 31	$	3,073,637		$	2,865,845

Change in Projected Benefit Obligation:
Obligation at Jan. 1	$	3,030,292		$	2,829,631
Service cost		77,319			73,147
Interest cost		161,412			165,010
Plan amendments		-			18,739
Actuarial loss		195,369			169,203
Benefit payments		(238,173	)		(225,438	)
Obligation at Dec. 31	$	3,226,219		$	3,030,292

Change in Fair Value of Plan Assets

(Thousands of Dollars)	2011			2010
Change in Fair Value of Plan Assets:
Fair value of plan assets at Jan. 1	$	2,540,708		$	2,449,326
Actual return on plan assets		230,401			282,688
Employer contributions		137,344			34,132
Benefit payments		(238,173	)		(225,438	)
Fair value of plan assets at Dec. 31	$	2,670,280		$	2,540,708

(Thousands of Dollars)		2011			2010
Change in Fair Value of Plan Assets:
Fair value of plan assets at Jan. 1	$	432,230		$	384,689
Actual return on plan assets		535			53,430
Plan participants' contributions		15,690			14,315
Employer contributions		49,018			48,443
Benefit payments		(70,638	)		(68,647	)
Fair value of plan assets at Dec. 31	$	426,835		$	432,230

Funded Status of Plans

(Thousands of Dollars)	2011			2010
Funded Status of Plans at Dec. 31:
Funded status (a)	$	(555,939	)	$	(489,584	)

(a)	Amounts are recognized in noncurrent liabilities on Xcel Energy's consolidated balance sheet.

(Thousands of Dollars)	2011			2010
Funded Status of Plans at Dec. 31:
Funded status	$	(350,012	)	$	(362,675	)
Current assets		332			-
Current liabilities		(7,594	)		(5,392	)
Noncurrent liabilities		(342,750	)		(357,283	)
Net postretirement amounts recognized on consolidated balance sheets	$	(350,012	)	$	(362,675	)

Amounts Not Yet Recognized as Components of Net Periodic Benefit Cost

(Thousands of Dollars)		2011				2010

Amounts Not Yet Recognized as Components of Net Periodic Benefit Cost:
Net loss	$	1,610,946	$	1,502,888
Prior service cost		18,432		40,965
Total	$	1,629,378	$	1,543,853

(Thousands of Dollars)	2011			2010

Amounts Not Yet Recognized as Components of Net Periodic Benefit Cost:
Net loss	$	246,846		$	221,335
Prior service credit		(50,652	)		(28,954	)
Transition obligation		15,147			29,591
Total	$	211,341		$	221,972

(Thousands of Dollars)		2011				2010

Amounts Related to the Funded Status of the Plans Have Been Recorded as Follows Based Upon Expected Recovery in Rates:
Current regulatory assets	$	123,814	$	92,765
Noncurrent regulatory assets		1,435,372		1,386,125
Deferred income taxes		28,759		26,592
Net-of-tax accumulated other comprehensive income		41,433		38,371
Total	$	1,629,378	$	1,543,853

(Thousands of Dollars)	2011			2010

Amounts Related to the Funded Status of the Plans Have Been Recorded as Follows Based Upon Expected Recovery in Rates:
Current regulatory assets	$	26,139		$	20,225
Noncurrent regulatory assets		176,730			197,952
Current regulatory liabilities		(1,866	)		-
Noncurrent regulatory liabilities		-			(6,423	)
Deferred income taxes		4,207			4,159
Net-of-tax accumulated other comprehensive income		6,131			6,059
Total	$	211,341		$	221,972

Significant Assumptions

		2011				2010

Measurement date	Dec. 31, 2011			Dec. 31, 2010

Significant Assumptions Used to Measure Benefit Obligations:
Discount rate for year-end valuation		5.00	%		5.50	%
Expected average long-term increase in compensation level		4.00			4.00
Mortality table	RP 2000			RP 2000

2011

2010

2009

Significant Assumptions Used to Measure Costs:
Discount rate	5.50	%	6.00	%	6.75	%
Expected average long-term increase in compensation level	4.00		4.00		4.00
Expected average long-term rate of return on assets	7.50		7.79		8.50

	2011			2010
Measurement date	Dec. 31, 2011			Dec. 31, 2010

Significant Assumptions Used to Measure Benefit Obligations:
Discount rate for year-end valuation		5.00	%		5.50	%
Mortality table	RP 2000			RP 2000
Health care costs trend rate - initial		6.31	%		6.50	%

	2011			2010			2009

Significant Assumptions Used to Measure Costs:
Discount rate		5.50	%		6.00	%		6.75	%
Expected average long-term rate of return on assets (before tax)		7.50			7.50			7.50

Benefit Costs

Benefit Costs - The components of Xcel Energy's net periodic pension cost were:


(Thousands of Dollars)	2011			2010			2009
Service cost	$	77,319		$	73,147		$	65,461
Interest cost		161,412			165,010			169,790
Expected return on plan assets		(221,600	)		(232,318	)		(256,538	)
Amortization of prior service cost		22,533			20,657			24,618
Amortization of net loss		78,510			48,315			12,455
Net periodic pension cost		118,174			74,811			15,786
Costs not recognized due to effects of regulation		(37,198	)		(27,027	)		(2,891	)
Net benefit cost recognized for financial reporting	$	80,976		$	47,784		$	12,895

Benefit Costs - The components of Xcel Energy's net periodic postretirement benefit costs were:

(Thousands of Dollars)	2011			2010			2009
Service cost	$	4,824		$	4,006		$	4,665
Interest cost		42,086			42,780			50,412
Expected return on plan assets		(31,962	)		(28,529	)		(22,775	)
Amortization of transition obligation		14,444			14,444			14,444
Amortization of prior service cost		(4,932	)		(4,932	)		(2,726	)
Amortization of net loss		13,294			11,643			19,329
Net periodic postretirement benefit cost		37,754			39,412			63,349
Additional cost recognized due to effects of regulation		3,891			3,891			3,891
Net benefit cost recognized for financial reporting	$	41,645		$	43,303		$	67,240

Change in Projected Benefit Obligation for Postretirement Plans

Benefit Obligations - A comparison of the actuarially computed benefit obligation and plan assets for Xcel Energy is presented in the following table:

(Thousands of Dollars)	2011			2010
Change in Projected Benefit Obligation:
Obligation at Jan. 1	$	794,905		$	728,902
Service cost		4,824			4,006
Interest cost		42,086			42,780
Medicare subsidy reimbursements		3,518			5,423
ERRP proceeds shared with retirees		4,269			-
Plan amendments		(26,630	)		-
Plan participants' contributions		15,690			14,315
Actuarial loss		8,823			68,126
Benefit payments		(70,638	)		(68,647	)
Obligation at Dec. 31	$	776,847		$	794,905

Effects of 1-Percent Change in Assumed Health Care Cost Trend Rate

A 1-percent change in the assumed health care cost trend rate would have the following effects on Xcel Energy:

	One Percentage Point
(Thousands of Dollars)	Increase		Decrease
APBO	$	79,710	$	(65,195	)
Service and interest components		5,598		(4,456	)

Projected Benefit Payments for the Pension and Postretirement Benefit Plans

The following table lists Xcel Energy's projected benefit payments for the pension and postretirement benefit plans:

(Thousands of Dollars)	Projected Pension Benefit Payments		Gross Projected Postretirement Health Care Benefit Payments		Expected Medicare Part D Subsidies		Net Projected Postretirement Health Care Benefit Payments
2012	$	270,101	$	57,461	$	4,523	$	52,938
2013		253,333		57,318		4,871		52,447
2014		261,854		58,396		5,175		53,221
2015		263,129		59,880		5,471		54,409
2016		264,885		61,375		5,751		55,624
2017-2021		1,328,001		315,139		32,659		282,480

Contributions to Multiemployer Plans

Contributions to multiemployer plans were as follows for the years ended Dec. 31, 2011, 2010 and 2009. There were no significant changes to the nature or magnitude of the participation of NSP-Minnesota and NSP-Wisconsin in multiemployer plans for the years presented:

(Thousands of Dollars)	2011		2010		2009
Multiemployer pension contributions:
NSP-Minnesota	$	17,811	$	13,461	$	11,348
NSP-Wisconsin		169		170		116
Total	$	17,980	$	13,631	$	11,464

Multiemployer other postretirement benefit contributions:
NSP-Minnesota	$	336	$	153	$	140
Total	$	336	$	153	$	140