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

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Money Pool

Money pool borrowings:

(Millions of Dollars, Except Interest Rates)	Three Months Ended Dec. 31, 2023			Year Ended
				2023			2022			2021
Borrowing limit	$	150		$	150		$	150		$	150
Amount outstanding at period end	—			—			—			—
Average amount outstanding	7			6			25			16
Maximum amount outstanding	43			43			81			78
Weighted average interest rate, computed on a daily basis	5.34		%	4.98		%	1.10		%	0.05		%
Weighted average interest rate at period end	N/A			N/A			N/A			N/A

Commercial Paper

Commercial paper outstanding:

(Millions of Dollars, Except Interest Rates)	Three Months Ended Dec. 31, 2023			Year Ended Dec. 31
				2023			2022			2021
Borrowing limit	$	150		$	150		$	150		$	150
Amount outstanding at period end	60			60			47			83
Average amount outstanding	10			15			18			3
Maximum amount outstanding	74			93			123			83
Weighted average interest rate, computed on a daily basis	5.48		%	4.85		%	1.03		%	0.18		%
Weighted average interest rate at end of period	5.50			5.50			4.55			0.21

Schedule of Debt To Total Capitalization Ratio

Debt-to-Total Capitalization Ratio (a)				Amount Facility May Be Increased (millions of dollars)	Additional Periods for Which a One-Year Extension May Be Requested (b)
2023		2022
48.2	%	47.4	%	N/A	1

(a)The 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.

Credit Facilities

NSP-Wisconsin had the following committed credit facility available as of Dec. 31, 2023 (in millions of dollars):

Credit Facility (a)		Drawn (b)		Available
$	150	$	60	$	90

(a)This credit facility matures in September 2027.

(b)Includes outstanding commercial paper.

^[1],[2]

Schedule of Long-Term Debt

Long-term debt obligations for NSP-Wisconsin as of Dec. 31 (in millions of dollars):

Financing Instrument	Interest Rate		Maturity Date	2023		2022
First mortgage bonds	3.30	%	June 15, 2024	$	100	$	100
First mortgage bonds	3.30		June 15, 2024	100		100
First mortgage bonds	6.375		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	4.20		Sept. 1, 2048	200		200
First mortgage bonds	3.05		May 1, 2051	100		100
First mortgage bonds	2.82		May 1, 2051	100		100
First mortgage bonds (a)	4.86		Sept. 15, 2052	100		100
First mortgage bonds (b)	5.30		June 15, 2053	125		—
Unamortized discount				(3)		(3)
Unamortized debt issuance cost				(11)		(11)
Current maturities				(200)		—
Total long-term debt				$	1,011	$	1,086

(a)2022 financing.

(b)2023 financing.

Schedule of Maturities of Long-term Debt

Maturities of long-term debt:

(Millions of Dollars)
2024	$	200
2025	—
2026	—
2027	—
2028	—

Dividend Payment Restrictions

Equity to Total Capitalization Ratio Required Range (a)			Equity to Total Capitalization Ratio Actual
Low		High	2023
52.5	%	N/A	52.7	%

(a)NSP-Wisconsin cannot pay annual dividends in excess of forecasted levels if its average equity-to-total capitalization ratio falls below the commission authorized level.

Unrestricted Retained Earnings			Total Capitalization			Limit on Total Capitalization
$	9	million	$	2,520	million	N/A

.

[1] This credit facility matures in September 2027.

[2] Includes outstanding commercial paper