Benefit Plans and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Benefit Plans and Other Postretirement Benefits

Components of Net Periodic Benefit Cost (Credit)

	Three Months Ended June 30
	2020		2019		2020		2019
(Millions of Dollars)	Pension Benefits				Postretirement Health Care Benefits
Service cost	$	2.4	$	2.2	$	0.2	$	0.2
Interest cost (a)	4.5		5.0		0.4		0.4
Expected return on plan assets (a)	(7.4)		(7.2)		(0.5)		(0.5)
Amortization of prior service credit (a)	—		—		(0.1)		(0.1)
Amortization of net loss (gain) (a)	3.3		2.9		(0.1)		(0.1)
Net periodic benefit cost (credit)	2.8		2.9		(0.1)		(0.1)
Credits not recognized due to effects of regulation	0.5		0.4		—		—
Net benefit cost (credit) recognized for financial reporting	$	3.3	$	3.3	$	(0.1)	$	(0.1)

	Six Months Ended June 30
	2020		2019		2020		2019
(Millions of Dollars)	Pension Benefits				Postretirement Health Care Benefits
Service cost	$	4.8	$	4.4	$	0.5	$	0.4
Interest cost (a)	9.0		10.1		0.7		0.9
Expected return on plan assets (a)	(14.7)		(14.3)		(0.9)		(1.0)
Amortization of prior service credit (a)	(0.1)		(0.1)		(0.2)		(0.3)
Amortization of net loss (gain) (a)	6.6		5.7		(0.2)		(0.2)
Net periodic benefit cost (credit)	5.6		5.8		(0.1)		(0.2)
Credits not recognized due to effects of regulation	1.0		0.8		—		—
Net benefit cost (credit) recognized for financial reporting	$	6.6	$	6.6	$	(0.1)	$	(0.2)

^(a) The components of net periodic cost other than the service cost component are included in the line item “other income (expense), net” in the income statement or capitalized on the balance sheet as a regulatory asset.

In January 2020, contributions of $150.0 million were made across four of Xcel Energy’s pension plans, of which $14.4 million was attributable to SPS. Xcel Energy does not expect additional pension contributions during 2020.