Xcel Energy Inc., through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources. It also purchases, transports, distributes, and sells natural gas to retail customers, as well as transports customer-owned natural gas. In addition, the company develops and leases natural gas pipelines, and storage and compression facilities; and invests in rental housing projects, as well as procures equipment for the construction of renewable generation facilities. It serves residential, commercial, and industrial customers in the portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin. The company sells electricity to approximately 3.7 million customers; and natural gas to approximately 2.1 million customers. Xcel Energy Inc. was incorporated in 1909 and is headquartered in Minneapolis, Minnesota.

Xcel Energy Inc.

Electric

Electric %Chg

Electric Common Size

Natural Gas

Natural Gas %Chg

Natural Gas Common Size

Other

Other %Chg

Other Common Size

Total Operating Revenues

Total Operating Revenues %Chg

Total Operating Revenues Common Size

Electric Fuel and Purchased Power

Electric Fuel and Purchased Power %Chg

Electric Fuel and Purchased Power Common Size

Cost of Natural Gas Sold and Transported

Cost of Natural Gas Sold and Transported %Chg

Cost of Natural Gas Sold and Transported Common Size

Cost of Sales - Other

Cost of Sales - Other %Chg

Cost of Sales - Other Common Size

Operating and Maintenance Expenses

Operating and Maintenance Expenses %Chg

Operating and Maintenance Expenses Common Size

Conservation and Demand Side Management Expenses

Conservation and Demand Side Management Expenses %Chg

Conservation and Demand Side Management Expenses Common Size

Depreciation and Amortization

Depreciation and Amortization %Chg

Depreciation and Amortization Common Size

Taxes (Other Than Income Taxes)

Taxes (Other Than Income Taxes) %Chg

Taxes (Other Than Income Taxes) Common Size

Loss on Monticello Life Cycle Management/Extended Power Uprate Project

Loss on Monticello Life Cycle Management/Extended Power Uprate Project %Chg

Loss on Monticello Life Cycle Management/Extended Power Uprate Project Common Size

Loss on Comanche Unit 3 Litigation

Loss on Comanche Unit 3 Litigation %Chg

Loss on Comanche Unit 3 Litigation Common Size

Workforce Reduction Expenses

Workforce Reduction Expenses %Chg

Workforce Reduction Expenses Common Size

Total Operating Expenses

Total Operating Expenses %Chg

Total Operating Expenses Common Size

Operating Income

Operating Income %Chg

Operating Income Common Size

Interest and Other Income, Net

Interest and Other Income, Net %Chg

Interest and Other Income, Net Common Size

Other Income, Net

Other Income, Net %Chg

Other Income, Net Common Size

Earnings from Equity Method Investments

Earnings from Equity Method Investments %Chg

Earnings from Equity Method Investments Common Size

Allowance for Funds Used During Construction - Equity

Allowance for Funds Used During Construction - Equity %Chg

Allowance for Funds Used During Construction - Equity Common Size

Interest Charges - Includes Other Financing Costs

Interest Charges - Includes Other Financing Costs %Chg

Interest Charges - Includes Other Financing Costs Common Size

Interest and Penalties Related to COLI Settlement

Interest and Penalties Related to COLI Settlement %Chg

Interest and Penalties Related to COLI Settlement Common Size

Allowance for Funds Used During Construction - Debt

Allowance for Funds Used During Construction - Debt %Chg

Allowance for Funds Used During Construction - Debt Common Size

Total Interest Charges and Financing Costs

Total Interest Charges and Financing Costs %Chg

Total Interest Charges and Financing Costs Common Size

Income Before Income Taxes

Income Before Income Taxes %Chg

Income Before Income Taxes Common Size

Income Tax Expense

Income Tax Expense %Chg

Income Tax Expense Common Size

Income from Continuing Operations

Income from Continuing Operations %Chg

Income from Continuing Operations Common Size

Income from Discontinued Operations, Net of Tax

Income from Discontinued Operations, Net of Tax %Chg

Income from Discontinued Operations, Net of Tax Common Size

Net Income

Net Income %Chg

Net Income Common Size

Dividend Requirements on Preferred Stock

Dividend Requirements on Preferred Stock %Chg

Dividend Requirements on Preferred Stock Common Size

Premium on Redemption of Preferred Stock

Premium on Redemption of Preferred Stock %Chg

Premium on Redemption of Preferred Stock Common Size

Earnings Available to Common Shareholders

Earnings Available to Common Shareholders %Chg

Earnings Available to Common Shareholders Common Size

Basic

Basic %Chg

Basic Common Size

Diluted

Total Revenues

Total Revenues %Chg

Total Revenues Common Size

Fuel and Purchased Power Expense

Fuel and Purchased Power Expense %Chg

Fuel and Purchased Power Expense Common Size

Operations and Maintenance Expenses

Operations and Maintenance Expenses %Chg

Operations and Maintenance Expenses Common Size

Gross Profit

Gross Profit %Chg

Gross Profit Common Size

Gross Profit Margin

Gross Profit Margin %Chg

Gross Profit Margin Common Size

Depreciation & Amortization Expenses

Depreciation & Amortization Expenses %Chg

Depreciation & Amortization Expenses Common Size

Taxes Other than Income Tax

Taxes Other than Income Tax %Chg

Taxes Other than Income Tax Common Size

Other Operating Expenses

Other Operating Expenses %Chg

Other Operating Expenses Common Size

Operating Profit

Operating Profit %Chg

Operating Profit Common Size

Operating Margin

Operating Margin %Chg

Operating Margin Common Size

Interest and Investment Income

Interest and Investment Income %Chg

Interest and Investment Income Common Size

Interest Expense

Interest Expense %Chg

Interest Expense Common Size

Non-Operating Income

Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Adjusted Net Income

Net Revenue

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Revenues	14,228	13,441	14,206	15,310	13,431	11,526	11,529	11,537	11,404	11,107	11,024
Total Revenues %Chg	3.4%	-5.4%	-7.2%	14%	16.5%	-0%	-0.1%	1.2%	2.7%	0.8%	-5.7%
Electric
Natural Gas
Other
Fuel and Purchased Power Expense	4,966	4,753	5,783	6,959	5,852	4,238	4,468	4,732	4,614	4,487	4,704
Electric Fuel and Purchased Power
Cost of Natural Gas Sold and Transported
Cost of Sales - Other
Operations and Maintenance Expenses	3,069	2,934	2,730	2,822	2,625	2,612	2,623	2,642	2,543	2,545	2,555
Operating and Maintenance Expenses
Conservation and Demand Side Management Expenses
Gross Profit	6,193	5,754	5,693	5,529	4,954	4,676	4,438	4,163	4,247	4,075	3,765
Gross Profit Margin	43.5%	42.8%	40.1%	36.1%	36.9%	40.6%	38.5%	36.1%	37.2%	36.7%	34.2%
Depreciation & Amortization Expenses	2,902	2,744	2,448	2,413	2,121	1,948	1,765	1,642	1,479	1,303	1,124
Depreciation and Amortization
Taxes Other than Income Tax	654	624	657	688	630	612	569	556	545	532	512
Taxes (Other Than Income Taxes)
Other Operating Expenses	—	—	107	—	—	—	—	—	—	—	129
Loss on Monticello Life Cycle Management/Extended Power Uprate Project
Loss on Comanche Unit 3 Litigation
Workforce Reduction Expenses
Operating Profit	2,350	2,386	2,481	2,428	2,203	2,116	2,104	1,965	2,223	2,240	2,000
Operating Income
Operating Margin	16.5%	17.8%	17.5%	15.9%	16.4%	18.4%	18.2%	17%	19.5%	20.2%	18.1%
Interest and Investment Income	431	330	148	98	140	149	132	129	95	84	96
Interest and Other Income, Net
Other Income, Net
Earnings from Equity Method Investments
Allowance for Funds Used During Construction - Equity
Interest Expense	-1,492	-1,328	-1,106	-981	-868	-882	-810	-748	-698	-674	-621
Interest Charges - Includes Other Financing Costs
Interest and Penalties Related to COLI Settlement
Allowance for Funds Used During Construction - Debt
Non-Operating Income	189	143	22	-13	5	-6	16	-14	-10	-18	6
Other Income, Net
Total Non-Operating Income	-872	-855	-936	-896	-723	-739	-662	-633	-613	-608	-519
Income Before Provision for Income Taxes	1,505	1,534	1,625	1,601	1,527	1,467	1,500	1,442	1,690	1,704	1,527
Income Before Income Taxes
Provision for Income Taxes	-410	-402	-146	-135	-70	-6	128	181	542	581	543
Income Tax Expense
Consolidated 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
Net Income Attributable to Preferred Dividends	—	—	—	—	—	—	—	—	—	—	—
Dividend Requirements on Preferred Stock
Premium on Redemption of Preferred Stock
Net Income Attributable to Discontinued Operations	—	—	—	—	—	—	—	—	—	—	—
Income from Discontinued Operations, Net of Tax
Net Income Attributable to Common Shareholders	1,915	1,936	1,771	1,736	1,597	1,473	1,372	1,261	1,148	1,123	984
Earnings Available to Common Shareholders
Basic EPS	3.3	3.4	3.2	3.2	3	2.8	2.6	2.5	2.3	2.2	1.9
Diluted EPS	3.3	3.4	3.2	3.2	3	2.8	2.6	2.5	2.3	2.2	1.9
Basic Weighted Average Shares Outstanding	582	563	552	547	539	527	519	511	509	509	507.8
Total Shares Outstanding	591.5	574.4	554.9	549.6	544	537.4	524.5	514	507.8	507.2	507.5
Diluted Weighted Average Shares Outstanding	584	563	552	547	540	528	520	511	509	509	508.2
EBITDA	5,388	5,261	5,048	4,982	4,460	4,198	4,008	3,746	3,832	3,676	3,249
Effective Tax Rate	-27.2%	-26.2%	-9%	-8.4%	-4.6%	-0.4%	8.5%	12.6%	32.1%	34.1%	35.6%