XCEL ENERGY INC PP&E Disclosure
| (Millions of Dollars) | Dec. 31, 2024 | Dec. 31, 2023 | ||||||||||||
| Property, plant and equipment, net | ||||||||||||||
| Electric plant | $ | 56,791 | $ | 52,494 | ||||||||||
| Natural gas plant | 9,834 | 9,080 | ||||||||||||
| Common and other property | 3,515 | 3,190 | ||||||||||||
Plant to be retired (a) | 1,793 | 2,055 | ||||||||||||
| CWIP | 4,720 | 2,873 | ||||||||||||
| Total property, plant and equipment | 76,653 | 69,692 | ||||||||||||
| Less accumulated depreciation | (19,852) | (18,399) | ||||||||||||
| Nuclear fuel | 3,491 | 3,337 | ||||||||||||
| Less accumulated amortization | (3,094) | (2,988) | ||||||||||||
| Property, plant and equipment, net | $ | 57,198 | $ | 51,642 | ||||||||||
| (Millions of Dollars, Except Percent Owned) | Plant in Service | Accumulated Depreciation | Percent Owned | |||||||||||||||||
| NSP-Minnesota | ||||||||||||||||||||
| Electric generation: | ||||||||||||||||||||
| Sherco Unit 3 | $ | 636 | $ | 499 | 59 | % | ||||||||||||||
| Sherco common facilities | 189 | 128 | 80 | |||||||||||||||||
| Sherco substation | 5 | 4 | 59 | |||||||||||||||||
| Electric transmission: | ||||||||||||||||||||
| Grand Meadow | 11 | 4 | 50 | |||||||||||||||||
| Huntley Wilmarth | 49 | 3 | 50 | |||||||||||||||||
| CapX2020 | 855 | 160 | 51 | |||||||||||||||||
Total NSP-Minnesota (a) | $ | 1,745 | $ | 798 | ||||||||||||||||
| (Millions of Dollars, Except Percent Owned) | Plant in Service | Accumulated Depreciation | Percent Owned | |||||||||||||||||
| NSP-Wisconsin | ||||||||||||||||||||
| Electric transmission: | ||||||||||||||||||||
| La Crosse, WI to Madison, WI | $ | 179 | $ | 30 | 37 | % | ||||||||||||||
| CapX2020 | 169 | 44 | 80 | |||||||||||||||||
Total NSP-Wisconsin (a) | $ | 348 | $ | 74 | ||||||||||||||||
| (Millions of Dollars, Except Percent Owned) | Plant in Service | Accumulated Depreciation | Percent Owned | |||||||||||||||||
| PSCo | ||||||||||||||||||||
| Electric generation: | ||||||||||||||||||||
| Hayden Unit 1 | $ | 158 | $ | 117 | 76 | % | ||||||||||||||
| Hayden Unit 2 | 152 | 93 | 37 | |||||||||||||||||
| Hayden common facilities | 45 | 33 | 53 | |||||||||||||||||
| Craig Units 1 and 2 | 82 | 58 | 10 | |||||||||||||||||
| Craig common facilities | 40 | 27 | 7 | |||||||||||||||||
| Comanche Unit 3 | 933 | 212 | 67 | |||||||||||||||||
| Comanche common facilities | 29 | 5 | 77 | |||||||||||||||||
| Electric transmission: | ||||||||||||||||||||
| Transmission and other facilities | 190 | 75 | Various | |||||||||||||||||
| Gas transmission: | ||||||||||||||||||||
| Rifle, CO to Avon, CO | 28 | 10 | 60 | |||||||||||||||||
| Gas transmission compressor | 8 | 3 | 50 | |||||||||||||||||
Total PSCo (a) | $ | 1,665 | $ | 633 | ||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Feb 27, 2025 | Showing above |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 17, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Feb 22, 2019 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.