Xcel Energy Inc.

NasdaqGS-XEL

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Operating Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Net Income	1,915	1,936	1,771	1,736	1,597	1,473	1,372	1,261	1,148	1,123	984
Net Income
Depreciation & Amortization	3,038	2,875	2,567	2,554	2,257	2,082	1,904	1,781	1,609	1,436	1,249
Depreciation and Amortization
Conservation and Demand Side Management Program Amortization
Nuclear Fuel Amortization
Amortization of Investment Tax Credits
Stock Based Compensation	44	33	25	20	31	73	58	45	57	41	45
Share-Based Compensation Expense
Other Adjustments	27	119	-71	-141	-112	-61	156	176	617	578	672
Remove Income from Discontinued Operations
Conservation and Demand Side Management Program Expenses
Deferred Income Taxes
Allowance for Equity Funds Used During Construction
Earnings from Equity Method Investments
Dividends from Equity Method Investments
Provision for Bad Debts
Gain or Write Down of Assets Sold or Held for Sale
Gain on Sale of Transmission Assets
Prairie Island EPU and SmartGridCity
Loss on Monticello Life Cycle Management/Extended Power Uprate Project
Other, Net
Net Realized and Unrealized Hedging and Derivative Transactions
Changes in Trade Receivables	-69	40	225	-672	-313	-157	22	-96	-94	-158	140
Accounts Receivable
Accrued Unbilled Revenues
Changes in Inventories	-271	-140	-98	-203	-126	-80	-84	-65	-3	1	-11
Inventories
Changes in Accounts Payable	-6	37	-149	195	138	-33	-12	90	43	118	-120
Accounts Payable
Changes in Other Operating Activities	-156	-259	1,057	443	-1,283	-449	-151	-70	-251	-87	79
Recoverable Purchased Natural Gas and Electric Energy Costs
Other Current Assets
Net Regulatory Assets and Liabilities
Other Current Liabilities
Pension and Other Employee Benefit Obligations
Change in Other Noncurrent Assets
Change in Other Noncurrent Liabilities
Operating Cash Flows Provided by Discontinued Operations
Other, Net
Cash from Operating Activities	4,538	4,641	5,327	3,932	2,189	2,848	3,263	3,122	3,126	3,052	3,038
Net Cash Provided by Operating Activities

Investing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Capital Expenditure	-9,687	-7,364	-5,854	-4,638	-4,244	-5,369	-4,225	-3,957	-3,244	-3,195	-3,681
Capital/Construction Expenditures
Nonregulated Capital Expenditures and Asset Acquisitions
Proceeds from Sale of Property, Plant & Equipment	—	—	—	—	—	—	—	—	—	—	—
Proceeds from Sale of Transmission Assets
Proceeds from the Sale of Assets
Purchases of Investments	-1,159	-998	-994	-1,332	-757	-1,398	-995	-853	-1,697	-547	-1,260
Purchases of Investments in External Decommissioning Fund
Purchase of Investment Securities
Investments in WYCO Development LLC and Other
Investments in Unconsolidated Subsidiaries and Other
Proceeds from Sale of Investments	1,146	961	959	1,297	743	1,378	975	833	1,669	479	1,237
Proceeds from the Sale of Investments in External Decommissioning Fund
Proceeds from the Sale of Investment Securities
Payments for Business Acquisitions	—	—	—	—	—	—	—	—	—	—	—
Acquisition of Generation Assets
Proceeds from Business Divestments	—	—	—	—	—	684	—	—	—	—	—
Sale of MEC
Other Investing Activities	-23	-27	-37	20	-29	-35	-98	-9	-24	2	83
Allowance for Equity Funds Used During Construction
Merricourt Refund
Merricourt Deposit
Proceeds from Insurance Recoveries
Change in Restricted Cash
Cash Obtained from Consolidation of NMC
Other Investments
Investing Cash Flows Provided by Discontinued Operations
Other, Net
Cash from Investing Activities	-9,723	-7,428	-5,926	-4,653	-4,287	-4,740	-4,343	-3,986	-3,296	-3,261	-3,623
Net Cash Provided by Investing Activities

Financing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Issuance of Short-Term Debt	1,325	—	—	—	421	-11	-443	225	422	-454	-174
Proceeds from Short-Term Borrowings, Net
Repayments of Short-Term Debt	—	-90	-28	-192	—	—	—	—	—	—	—
Repayments of Short-Term Borrowings, Net
Net Issuance / (Repayments) of Short-Term Debt	1,325	-90	-28	-192	421	-11	-443	225	422	-454	-174
Issuance of Long-Term Debt	4,887	3,647	2,630	2,164	2,710	2,940	2,920	1,675	1,518	2,424	1,626
Proceeds from Issuances of Long-Term Debt
Repayments of Long-Term Debt	—	-656	-1,151	-601	-417	-1,001	-949	-452	-1,030	-1,036	-251
Repayments of Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	4,887	2,991	1,479	1,563	2,293	1,939	1,971	1,223	488	1,388	1,375
Issuance of Common Shares	1,159	1,117	270	322	366	727	458	230	—	—	7
Proceeds from Issuance of Common Stock
Repurchases of Common Shares	—	—	—	—	—	—	—	—	—	-32	—
Purchase of Common Stock for Settlement of Equity Awards
Repurchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	1,159	1,117	270	322	366	727	458	230	—	-32	7
Repurchases of Preferred Shares	—	—	—	—	—	—	—	—	—	—	—
Redemption of Preferred Stock
Net Issuance / (Repurchases) of Preferred Shares	—	—	—	—	—	—	—	—	—	—	—
Common Share Dividends Paid	-1,258	-1,175	-1,092	-1,012	-935	-856	-791	-730	-721	-681	-607
Dividends Paid
Other Financing Activities	-2	-6	-12	-15	-10	-26	-14	-20	-21	-12	-11
Early Participation Payment on Debt Exchange
Other, Net
Cash from Financing Activities	4,692	2,837	617	666	2,135	1,773	1,181	928	168	209	590
Net Cash Provided by Financing Activities

Free Cash Flow	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Free Cash Flow	-5,149	-2,723	-527	-706	-2,055	-2,521	-962	-835	-118	-143	-643
NOPAT	2,990.2	3,011.3	2,703.9	2,632.7	2,304	2,124.7	1,924.5	1,718.4	1,510.1	1,476.2	1,288.8
Levered Free Cash Flow	1,045	-14	745	1,458	1,053	-448	332	488	212	330	-299
Unlevered Free Cash Flow	-4,091.8	-1,839.7	226.9	983.7	-954	-1,724.3	-643.5	-502.6	-335.9	-250.8	-1,195.2
Net Change in Cash	-493	50	18	-55	37	-119	101	64	-2	—	5