Xcel Energy
financials matter most

Financials

Xcel Energy seeks to deliver an attractive total return to investors through a combination of 5 to 7 percent earnings growth and 2 to 4 percent dividend growth.

2012 represents the eighth consecutive year in which we have met or exceeded our earnings guidance and the ninth consecutive year we have increased our dividend. Ongoing earnings increased largely due to increases in electric margins driven by the conclusion of various rate cases, which reflect our continued investment in our utility business and a lower effective tax rate. Partially offsetting these positive factors were warmer than normal winter weather, increases in depreciation expense, operating and maintenance expenses and property taxes. We raised the dividend 4 percent in 2012 to $1.08 per share.

Our financial results helped propel our stock to an 11-year high in August, trading just under $30 per share. We took advantage of our strong credit quality and favorable interest rates to issue $1.8 billion in debt to finance our significant investments.

Xcel Energy’s corporate strategy focuses on three main areas:

Achievement of our strategic plan is designed to provide investors with an attractive total return and customers with clean, safe, reliable energy at a competitive price.

Financial Summary for 2012

Earnings $905 million
Earnings per diluted share $1.85
Ongoing diluted earnings per share1 $1.82
Economic Value Generated
Total revenues $10.1 billion
Electric utility revenues $8.5 billion
Natural gas revenues $1.5 billion
Other operating revenues $74 million
Economic Value Distributed
Electric fuel and purchased power costs $3.6 billion
Cost of natural gas sold and transported $881 million
Employee compensation, including wages and benefits $1.7 billion
Total corporate giving $37.7 million
Retained earnings $2.4 billion
Interest charges and financing costs $566 million
Common stock dividends $487 million
Tax payments $859 million
Franchise fees $156 million

Please see our 2012 10-K for detailed financial statements.

1Reconciliation – Ongoing EPS to GAAP 2012

Ongoing diluted EPS
$1.82
PSRI-COLI/Prescription drug tax benefit
(0.03)
EPS from continuing operations
$1.85
EPS from discontinued operations
(0.00)
GAAP diluted EPS
$1.85
 

About the Report

We published our first corporate responsibility report (formerly known as the Triple Bottom Line report) in April 2005, with the contents covering the 2004 calendar year, and we have published a similar report in each following year. Our report is based on Global Reporting Initiative (GRI) G3 Sustainability Reporting Guidelines, the most widely used sustainability reporting framework in the world. Additionally, we incorporate the GRI’s Electric Utilities Sector Supplement indicators wherever possible.

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About the Report