Docket No Required Information Other Supplemental Information Annual Report - Xcel Energy ·...

Docket No EOO2/GR15-826Volume Required Information

Section II.7.A Other Supplemental Information Annual Report

9465890 2142738 77507 11686135

1774 5893_____________ 7667

9467664 2148631 77507 .$ 11686135

Thousands of Dollars

2013

Operating revenues from external customers

Intersegment revenues

Total revenues

Regulated Regulated Reconciling ConsolidatedElectric Natural Gas All Other Eliminations Total

9034045 1804679 76198 10914922

1332 2717 40499035377 1807396 76198 4049 10914922

18 Summarized Quarterly Financial Data Unaudited

Quarter Ended

June 30 2014 Sept 30 2014 Dec 31 2014

2685096 2869807 2928628

397208 665680 391250

195164 368582 196339

0.39 0.73 0.39

0.39 0.73 0.39

0.30 0.30 0.30

Quarter Ended

June 30 2013 Sept 30 2013 Dec 31 2013

2578913 2822338 2730822

402236 665113 325582

196857 364752 150055

0.40 0.73 0.30

0.40 0.73 0.30

0.28 028 0.28

Regulated RegulatedElectric Natural Gas

Northern States Power Company

Thousands of Dollars

2014

Operating revenues from external customers

Intersegment revenues

Total revenues

Depreciation and amortization

Interest charges and financing costs

Income tax expense benefit

Net income

Reconciling ConsolidatedAll Other Eliminations Total

866746 144661

397824 43940

512551 76418

890535 128559

7638

86442

65154

2212

1019045

528206

523815

1021306

Depreciation and amortization 840833 128186 8844 977863Interest charges and financing costs 386198 44927 104895 536020Income tax expense benefit 495044 25543 36611 483976Net income loss 850572 123702 26040 948234

Regulated Regulated Reconciling ConsolidatedThousands of Dollars Electric Natural Gas All Other Eliminations Total

2012

Operating revenues from external customers 8517296 1537374 73553 10128223

Intersegment revenues 1169 1425 2594Total revenues 8518465 1538799 73553 10128223

Depreciation and amortization 801649 115038 9366 926053Interest charges and financing costs 397457 49456 119324 566237Income tax expense benefit 465626 50322 65745 450203Net income loss 851929 98061 44761 905229

Amounts in thousands except per share data March 31 2014

Operating revenues 3202604

Operating income 493992Net income 261221EPS total basic 0.52

EPS total diluted 0.52

Cash dividends declared per common share 0.30

Amounts in thousands except per share data March 31 2013

Operating revenues 2782849

Operating income 454624Net income 236570EPS total basic 0.48

EPS total diluted 0.48

Cash dividends declared per common share 0.27

150

Docket No EOO2IGR-15-826

Volume Required Information

Northern States Power Company Section lL7.A Other Supplemental Information Annual Report

Item Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None

Item 9A Controls and Procedures

Disclosure Controls and Procedures

Xcel Energy maintains set of disclosure controls and procedures designed to ensure that information required to be disclosed in

reports that it files or submits under the Securities Exchange Act of 1934 is recorded processed summarized and reported within the

time periods specified in SEC rules and forms In addition the disclosure controls and procedures ensure that information required to

be disclosed is accumulated and communicated to management including the chief executive officer CEO and chief financial officer

CFO allowing timely decisions regarding required disclosure As of Dec 31 2014 based on an evaluation carried out under the

supervision and with the participation of XceI Energys management including the CEO and CFO of the effectiveness of its

disclosure controls and the procedures the CEO and CFO have concluded that Xcel Energys disclosure controls and procedures were

effective

Internal Control Over Financial Reporting

No change in Xcel Energys internal control over financial reporting has occurred during the most recent fiscal quarter that has

materially affected or is reasonably likely to materially affect Xcel Energys internal control over financial reporting Xcel Energy

maintains internal control over financial reporting to provide reasonable assurance regarding the reliability of the financial reporting

Xcel Energy has evaluated and documented its controls in process activities general computer activities and on an entity-wide level

During the year and in preparation for issuing its report for the year ended Dec 31 2014 on internal controls under section 404 of the

Sarbanes-Oxley Act of 2002 Xcel Energy conducted testing and monitoring of its internal control over financial reporting Based on

the control evaluation testing and remediation performed Xcel Energy did not identify any material control weaknesses as defined

under the standards and rules issued by the Public Company Accounting Oversight Board and as approved by the SEC and as

indicated in Management Report on Internal Controls herein

Item 9B Other Information

None

PART III

Item 10 Directors Executive Officers and Corporate Governance

Information required under this Item with respect to Directors and Corporate Governance is set forth in Xcel Energy Inc.s Proxy

Statement for its 2015 Annual Meeting of Shareholders which is incorporated by reference Information with respect to Executive

Officers is included in Item to this report

Item 11 Executive Compensation

Information required under this Item is set forth in Xcel Energy Inc.s Proxy Statement for its 2015 Annual Meeting of Shareholders

which is incorporated by reference

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Information required under this Item is contained in Xcel Energy Inc.s Proxy Statement for its 2015 Annual Meeting of Shareholders


Item 13 Certain Relationships and Related Transactions and Director Independence



Item 14 Principal Accountant Fees and Services



151

Docket No E002/GR-1 5-826


Northern States Power Company Section lL7.A Other Supplemental Information Annual Report

PART IV

Item 15 Exhibits Financial Statement Schedules

Consolidated Financial Statements

Management Report on Internal Controls Over Financial Reporting For the year ended Dec 31 2014

Report of Independent Registered Public Accounting Firm Financial Statements

Report of Independent Registered Public Accounting Firm Internal Controls Over Financial Reporting

Consolidated Statements of Income For the three years ended Dec 31 2014 2013 and 2012

Consolidated Statements of Comprehensive Income For the three years ended Dec 31 2014 2013 and 2012

Consolidated Statements of Cash Flows For the three years ended Dec 31 2014 2013 and 2012

Consolidated Balance Sheets As of Dec 31 2014 and 2013

Consolidated Statements of Common Stockholders Equity For the three years ended Dec 31 2014 2013 and 2012

Consolidated Statements of Capitalization As of Dec 31 2014 and 2013

Schedule Condensed Financial Information of Registrant

Schedule II Valuation and Qualifying Accounts and Reserves for the years ended Dec 31 2014 2013 and 2012

Exhibits

Indicates incorporation by reference

Executive Compensation Arrangements and Benefit Plans Covering Executive Officers and Directors

Certain portions of this agreement have been omitted pursuant to request for confidential treatment and have been filed

separately with the SEC

Xcel Energy Inc

1.01 Equity Distribution Agreement dated March 2013 between Xcel Energy Inc and Barclays Capital Inc Exhibit 1.1 toForm 8-K dated March 2013 file no 001-03034

1.02 Equity Distribution Agreement dated March 2013 between Xcel Energy Inc and Merrill Lynch Pierce FennerSmith Incorporated Exhibit 1.2 to Form 8-K dated March 2013 file no 001-03034

103 Equity Distribution Agreement dated March 2013 between Xcel Energy Inc and Morgan Stanley Co LLC Exhibit1.3 to Form 8-K dated March 2013 file no 001-03034

PSCo

2.01 Purchase and Sale Agreement by and between Riverside Energy Center LLC and Calpine Development Holdings Inc asSellers and PSCo as Purchaser dated as of April 2010 excluding certain schedules and exhibits referred to in the

agreement as amended which the Registrant agrees to furnish supplemental to the SEC upon request Exhibit 2.01 toForm lO-Q for the quarter ended June 30 2010 file no 00 1-03034

XceI Energy Inc

3.01 Amended and Restated Articles of Incorporation of Xcel Energy Inc as filed on May 17 2012 Exhibit 3.01 to Form 8-Kdated May 16 2012 file no 001-03034

3.02 Restated By-Laws of Xcel Energy Inc Exhibit 3.01 to Form 8-K dated Aug 12 2008 file no 001-03034

XceI Energy Inc

4.01 Indenture dated Dec 2000 between Xcel Energy Inc and Wells Fargo Bank Minnesota National Association asTrustee Exhibit 4.01 to Form 8-K file no 00 1-03034 dated Dec 14 2000

4.02 Supplemental Indenture No dated June 2006 between Xcel Energy Inc and Wells Fargo Bank National Associationas Trustee creating $300 million principal amount of 6.5 percent Senior Notes Series due 2036 Exhibit 4.01 to CurrentReport on Form 8-K file no 00 1-03034 dated June 2006

403 Supplemental Indenture No dated March 30 2007 between Xcel Energy Inc and Wells Fargo Bank NationalAssociation as Trustee creating $253979 million aggregate principal amount of 5.613 percent Senior Notes Series due2017 Exhibit 4.01 to Form 8-K file no 001-03034 dated March 30 2007

4.04 Junior Subordinated Indenture dated as of Jan 2008 by and between Xcel Energy Inc and Wells Fargo Bank NationalAssociation as Trustee Exhibit 4.01 to Form 8-K file no 00 1-03034 dated Jan 16 2008

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Volume Required information

Northern States Power Company Section i.7.A Other Supplemental information Annual Report

405 Supplemental Indenture No dated Jan 16 2008 by and between Xcel Energy Inc and Wells Fargo Bank National

Association as Trustee creating $400 million principal amount of 7.6 percent Junior Subordinated Notes Series due

2068 Exhibit 4.02 to Form 8-K file no 00 1-03034 dated Jan 16 2008

4.06 Replacement Capital Covenant dated Jan 16 2008 Exhibit 4.03 to Form 8-K file no 001-03034 dated Jan 16 2008

4.07 Supplemental Indenture No dated as of May 2010 between Xcel Energy Inc and Wells Fargo Bank National

Association as Trustee creating $550 million principal amount of 4.70 percent Senior Notes Series due May 15 2020

Exhibit 4.01 to Form 8-K file no 001-03034 dated May 10 2010

4.08 Supplemental Indenture No dated as of Sept 2011 between Xcel Energy Inc and Wells Fargo Bank National

Association as Trustee creating $250 million principal amount of 4.80 percent Senior Notes Series due September 152041 Exhibit 4.01 to Form 8-K dated Sept 12 2011 file no 001-03034

4.09 Supplemental Indenture No dated as of May 2013 between Xcel Energy and Wells Fargo Bank NA as Trustee

creating $450 million principal amount of 0.75 percent Senior Notes Series due May 2016 Exhibit 4.01 to Form 8-K

dated May 2013 file no 001-03034

NSP-Minnesota

4.10 Supplemental and Restated Trust Indenture dated May 1988 from NSP-Minnesota to Harris Trust and Savings Bankas Trustee providing for the issuance of First Mortgage Bonds Exhibit 4.02 to Form 10-K ofNSP-Minnesota for the year

ended December31 1988 file no 001-03034 Supplemental Indentures between NSP-Minnesota and said Trustee

dated as follows

Supplemental Trust Indenture dated June 1995 creating $250 million principal amount of 7.125 percent First Mortgage

Bonds Series due July 2025 Exhibit 4.01 to Form 8-K file no 00 1-03034 dated June 28 1995

Supplemental Trust Indenture dated April 1997 creating $100 million principal amount of 8.5 percent First Mortgage

Bonds Series due Sept 2019 and $27.9 million principal amount of 8.5 percent First Mortgage Bonds Series due

March 2019 Exhibit 4.47 to Form 10-K file no 001-03034 dated Dec 31 1997

Supplemental Trust Indenture dated March 1998 creating $150 million principal amount of 6.5 percent First Mortgage

Bonds Series due March 2028 Exhibit 4.01 to Form 8-K file no 001-03034 dated March 11 1998

4.11 Supplemental Trust Indenture dated Aug 2000 Assignment and Assumption of Trust Indenture Exhibit 4.51 to NSPMinnesota Form 10-I 20 file no 000-31709 dated Oct 2000

4.12 Indenture dated July 1999 between NSP-Minnesota and Norwest Bank Minnesota NA as Trustee providing for the

issuance of Sr Debt Securities Exhibit 4.01 to NSP-Minnesota Form 8-K file no 001-03034 dated July 21 1999

4.13 Supplemental Indenture dated Aug 18 2000 supplemental to the Indenture dated July 1999 among Xcel EnergyNSP-Minnesota and Wells Fargo Bank Minnesota NA as Trustee Assignment and Assumption of Indenture

Exhibit 4.63 to NSP-Minnesota Form 10-120 file no 000-31709 dated Oct 2000

4.14 Supplemental Trust Indenture dated July 2002 between NSP-Minnesota and BNY Midwest Trust Company as

successor Trustee creating $69 million principal amount of 8.5 percent First Mortgage Bonds Series due April 2030

Exhibit 4.06 to NSP-Minnesota Quarterly Report on Form lO-Q file no 001-31387 dated Sept 30 2002

4.15 Supplemental Trust Indenture dated July 2005 between NSP-Minnesota and BNY Midwest Trust Company as

successor Trustee creating $250 million principal amount of 5.25 percent First Mortgage Bonds Series due July 15 2035

Exhibit 4.01 to NSP-Minnesota Current Report on Form 8-K file no 001-3 1387 dated July 14 2005

4.16 Supplemental Trust Indenture dated May 2006 between NSP-Minnesota and BNY Midwest Trust Company as

successor Trustee creating $400 million principal amount of 6.25 percent First Mortgage Bonds Series due June 2036

Exhibit 4.01 to NSP-Minnesota Current Report on Form 8-K file no 001-31387 dated May 18 2006

4.17 Supplemental Trust Indenture dated June 2007 between NSP-Minnesota and BNY Midwest Trust Company as

successor Trustee Exhibit 4.01 to NSP-Minnesota Form 8-K file no 001-31387 dated June 19 2007

4.18 Supplemental Trust Indenture dated March 2008 between NSP-Minnesota and The Bank of New York Trust Company

NA as successor Trustee Exhibit 4.01 to NSP-Minnesota Form 8-K file no 001-31387 dated March 11 2008

4.19 Supplemental Trust Indenture dated as of Nov 2009 between NSP-Minnesota and The Bank of New York Mellon Trust

Co NA as successor Trustee creating $300 million principal amount of 5.35 percent First Mortgage Bonds Series due

Nov 2039 Exhibit 4.01 to NSP-Minnesota Form 8-K file no 001-31387 dated Nov 16 2009

4.20 Supplemental Trust Indenture dated as of Aug 2010 between NSP-Minnesota and The Bank of New York Mellon Trust

Company NA as successor Trustee creating $250 million principal amount of 1.950 percent First Mortgage Bonds

Series due Aug 15 2015 and $250 million principal amount of 4.850 percent First Mortgage Bonds Series due Aug 15

2040 Exhibit 4.01 to NSP-Minnesota Form 8-K dated Aug 2010 file no 001-31387

4.2 Supplemental Trust Indenture dated as of Aug 2012 between NSP-Minnesota and The Bank of New York Mellon Trust

Company NA as successor Trustee creating $300 million principal amount of 2.15 percent First Mortgage Bonds Series

due Aug 15 2022 and $500 million principal amount of 3.40 percent First Mortgage Bonds Series due Aug 15 2042

Exhibit 4.01 to NSP-Minnesota Form 8-K dated Aug 13 2012 file no 001-3 1387

4.22 Supplemental Trust Indenture dated as of May 2013 between NSP-Minnesota and The Bank of New York Mellon Trust

Company N.A as successor Trustee creating $400 million principal amount of 2.60 percent First Mortgage Bonds

Series due May 15 2023 Exhibit 4.01 to NSP-Minnesota Form 8-K dated May 20 2013 file no 001-31387

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Voume Required Information

Northern States Power Company Section 1L7.A Other Supplemental Information Annual Report

4.23 Supplemental Trust Indenture dated as of May 2014 between NSP-Minnesota and The Bank of New York Mellon Trust

Company NA as successor Trustee creating $300 million principal amount of 4.125 percent First Mortgage BondsSeries due May 15 2044 Exhibit 4.01 to NSP-Minnesota Form 8-K dated May 13 2014 file no 001-3 1387

NSP-Wisconsin

4.24 Supplemental and Restated Trust Indenture dated March 1991 between NSP-Wisconsin and First Wisconsin Trust

company providing for the issuance of First Mortgage Bonds Exhibit 4.01 to Registration Statement 33-39831

4.25 Supplemental Trust Indenture dated April 1991 Exhibit 4.01 to Form 10-Q file no 001-03140 for the quarter endedMarch31 1991

4.26 Supplemental Trust Indenture dated Dec 1996 between NSP-Wisconsin and Firstar Trust Company as

Trustee Exhibit 401 to Form 8-K file no 001-03140 dated Dec 12 1996

4.27 Trust Indenture dated Sept 2000 between NSP-Wisconsin and Firstar Bank NA as Trustee Exhibit 4.01 to Form 8-Kfile no 001-03 140 dated Sept 25 2000

4.28 Supplemental Trust Indenture dated Sept 2003 between NSP-Wisconsin and U.S Bank National Associationsupplementing indentures dated April 1947 and March 1991 Exhibit 4.05 to Xcel Energy Form 10-Q file

no 001-03034 for the quarter ended September 30 20034.29 Supplemental Trust Indenture dated as of Sept 2008 between NSP-Wisconsin and U.S Bank National Association as

successor Trustee creating $200 million principal amount of 6.3 75 percent First Mortgage Bonds Series due Sept2038 Exhibit 4.01 of Form 8-K of NSP-Wisconsin dated Sept 32008 file no 001-03 140

4.30 Supplemental Trust Indenture dated as of Oct 2012 between NSP-Wisconsin and U.S Bank National Association as

successor Trustee creating $100 million principal amount of 3.700 percent First Mortgage Bonds Series due Oct 2042Exhibit 4.01 of Form 8-K of NSP-Wisconsin dated Oct 102012 file no 001-03 140

4.31 Supplemental Trust Indenture dated as of June 2014 between NSP-Wisconsin and U.S Bank National Association as

successor Trustee creating $100 million principal amount of 3.30 percent First Mortgage Bonds Series due June 152024 Exhibit 4.01 of Form 8-K of NSP-Wisconsin dated June 23 2014 file no 001-03140

PSCo

4.32 Indenture dated as of Oct 1993 between PSCo and Morgan Guaranty Trust Company of New York as trusteeproviding for the issuance of First Collateral Trust Bonds Form 10-Q Sept 30 1993 Exhibit 4a

433 Indentures supplemental to Indenture dated as of Oct 1993 between PSCo and Morgan Guaranty Trust Company ofNew York as trustee

ExhibitDated as of Previous FiIing Form Date or file no NoNov 1993 S-3 33-51167 4b2Jan 1994 10-K 1993 4b3Sept 1994 8-K September 1994 4bNov 1996 10-K 1996 001-03280 4b3Feb 11997 lO-Q March31 1997 001-03280 4aApril 1998 10-Q March 11998 001-03280 4bAug 15 2002 10-Q Sept 30 2002 001-03280 4.03

Aug 2005 8-K Aug 18 2005 001-03280 4.02

434 Indenture dated July 1999 between PSCo and The Bank of New York providing for the issuance of Senior DebtSecurities and First Supplemental Indenture dated July 15 1999 between PSCo and The Bank of New York Exhibits 4.1and 4.2 to Form 8-K file no 00 1-03280 dated July 13 1999

435 Financing Agreement between Adams County Colorado and PSCo dated as of Aug 2005 relating to $129.5 millionAdams County Colorado Pollution Control Refunding Revenue Bonds 2005 Series Exhibit 4.01 to PSCo CurrentReport on Form 8-K dated Aug 18 2005 file no 001-03280

4.36 Supplemental Indenture dated Aug 2007 between PSCo and U.S Bank Trust National Association as successorTrustee Exhibit 4.01 to PSCo Form 8-K file no 00 1-03280 dated Aug 2007

437 Supplemental Indenture dated as of Aug 2008 between PSCo and U.S Bank Trust National Association as successorTrustee creating $300 million principal amount of 5.80 percent First Mortgage Bonds Series No 18 due 2018 and $300million principal amount of 6.50 percent First Mortgage Bonds Series No 19 due 2038 Exhibit 4.01 of Form 8-K ofPSCo dated Aug 2008 file no 00 1-03280

4.38 Supplemental Indenture dated as of May 2009 between PSCo and U.S Bank Trust National Association as successorTrustee creating $400 million principal amount of 5.125 percent First Mortgage Bonds Series No 20 due 2019Exhibit 4.01 of Form 8-K of PSCo dated May 28 2009 file no 00 1-03280

154

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Northern States Power Company Section II.7.A Other Supplemental Information Annual Report

439 Supplemental Indenture dated as of Nov 2010 between PSCo and U.S Bank National Association as successor

Trustee creating $400 million principal amount of 3.200 percent First Mortgage Bonds Series No 21 due 2020

Exhibit 4.01 of Form 8-K of PSCo dated Nov 2010 file no 001-03280

4.40 Supplemental Indenture dated as of Aug 2011 between PSCo and U.S Bank National Association as successor

Trustee creating $250 million principal amount of 4.75 percent First Mortgage Bonds Series No 22 due 2041 Exhibit4.01 to Form 8-K of PSCo dated Aug 2011 file no 001-03280

4.41 Supplemental Indenture dated as of Sept 2012 between PSCo and U.S Bank National Association as successor

Trustee creating $300 million principal amount of 2.25 percent First Mortgage Bonds Series No 23 due 2022 and $500

million principal amount of 3.60 percent First Mortgage Bonds Series No 24 due 2042 Exhibit 4.01 to PSCos Form 8-K

dated Sept 11 2012 file no 001-03280

4.42 Supplemental Indenture dated as of March 2013 between PSCo and U.S Bank National Association as successor

Trustee creating $250 million principal amount of 2.50 percent First Mortgage Bonds Series No 25 due 2023 and $250

million principal amount of 3.95 percent First Mortgage Bonds Series No 26 due 2043 Exhibit 4.01 to Form 8-K of

PSCo dated March 26 2013 file no 001-03280

443 Supplemental Indenture dated as of March 2014 between PSCo and U.S Bank National Association as successor

Trustee creating $300 million principal amount of 4.30 percent First Mortgage Bonds Series No 27 due 2044 Exhibit4.01 to Form 8-K of PSCo dated March 10 2014 file no 001-03280

sPs

444 Indenture dated Feb 1999 between SPS and The Chase Manhattan Bank Exhibit 99.2 to Form 8-K file

no 00 1-03789 dated Feb 25 1999

445 Third Supplemental Indenture dated Oct 2003 to the indenture dated Feb 1999 between SPS and JPMorgan Chase

Bank as successor Trustee creating $100 million principal amount of Series and Series Notes percent due 2033

Exhibit 4.04 to Xcel Energy Form 10-Q file no 00 1-03034 for the quarter ended September 30 2003

4.46 Fourth Supplemental Indenture dated Oct 2006 between SPS and The Bank of New York as successor Trustee

Exhibit 4.01 to Form 8-K file no 001-03789 dated Oct 2006

447 Red River Authority for Texas Indenture of Trust dated July 1991 Form 10-K Aug 31 1991 Exhibit 4b4.48 Fifth Supplemental Indenture dated as of Nov 2008 between SPS and The Bank of New York Mellon Trust Company

NA as successor Trustee creating $250 million principal amount of Series Senior Notes 8.75 percent due 2018

Exhibit 4.01 of Form 8-K of SPS dated Nov 14 2008 file no 001- 03789

449 Indenture dated as of Aug 2011 between SPS and U.S Bank National Association as Trustee Exhibit 4.01 to Form 8-

dated Aug 10 2011 file no 001-03789

4.50 Supplemental Indenture dated as of Aug 2011 between SPS and U.S Bank National Association as Trustee creating

$200 million principal amount of 4.50 percent First Mortgage Bonds Series No due 2041 Exhibit 4.02 to Form 8-K

dated Aug 10 2011 file no 00 1-03789

4.51 Sixth Supplemental Indenture dated as of June 2014 between SPS and The Bank of New York Mellon Trust CompanyN.A as successor Trustee Exhibit 4.03 to SPS Form 8-K dated June 2014 file no 001-03789

4.52 Supplemental Indenture No dated as of June 2014 between SPS and U.S Bank National Association as Trustee

Exhibit 4.06 to SPS Form 8-K dated June 2014 file no 001-03789

453 Supplemental Indenture No dated as of June 2014 between SPS and U.S Bank National Association as Trustee

creating $150 million principal amount of 3.30 percent First Mortgage Bonds Series No due 2024 Exhibit 4.02 to

SPS Form 8-K dated June 2014 file no 001-03789

Xcel Energy Inc

10.0 Xcel Energy Inc Nonqualified Pension Plan 2009 Restatement Exhibit 10.02 to Form 10-K of Xcel Energy file

no 001-03034 for the year ended Dec 31 2008

10.02 Xcel Energy Senior Executive Severance and Chang-in-Control Policy 2009 Amendment and Restatement

Exhibit 10.05 to Form 10-K of Xcel Energy file no 001-03034 for the year ended Dec 31 2008

10.03 Xcel Energy Inc Non-Employee Directors Deferred Compensation Plan as amended and restated Jan 2009

Exhibit 10.08 to Form 10-K of Xcel Energy file no 001-03034 for the year ended Dec 31 2008

10.04 Form of Services Agreement between Xcel Energy Services Inc andutility companies Exhibit H-l to Form U5B file

no 001-03034 dated Nov 16 2000

0.05 Xcel Energy Inc Supplemental Executive Retirement Plan as amended and restated Jan 2009 Exhibit 10.17 to

Form 10-K of Xcel Energy file no 001-03034 for the year ended Dec 31 2008

10.06 Amendment dated Aug 26 2009 to the Xcel Energy Senior Executive Severance and Change-in-Control Policy

Exhibit 10.06 to Form 10-Q of Xcel Energy file no 001-03034 for the quarter ended Sept 30 2009

0.07 Xcel Energy Inc Executive Annual Incentive Award Plan Form of Restricted Stock Agreement Exhibit 10.08 to Form 10-

of Xcel Energy file no 001-03034 for the quarter ended Sept 30 2009

10.08 Xcel Energy Inc Executive Annual Incentive Award Plan as amended and restated effective Feb 17 2010 incorporated

by reference to Appendix to Schedule 14A Definitive Proxy Statement to Xcel Energy Inc file no 00 1-03034 dated

April 2010

155




10.09 Xcel Energy Inc 2010 Executive Annual Discretionary Award Plan Exhibit 10.24 to Form 10-K of XceI Energy file no00 1-03034 for the year ended Dec 31 2009

l0.10 Xcel Energy Inc 2005 Long-Term Incentive Plan as amended and restated effective Feb 17 2010 incorporated byreference to Appendix to Schedule 4A Definitive Proxy Statement to Xcel Energy Inc file no 001-03034 dated

April 2010

10.11 Xcel Energy Inc 2010 Executive Annual Discretionary Award Plan as amended and restated effective Dec 15 2010Exhibit 10.23 to Form 10-K of Xcel Energy file no 001-03034 for the year ended Dec 31 2010

10.1 Xcel Energy Inc 2005 Long-Term Incentive Plan Form of Bonus Stock Agreement Exhibit 10.24 to Form 10-K of Xcel

Energy file no 001-03034 for the year ended Dec 31 2010

10.13 Xcel Energy Inc 2005 Long-Term Incentive Plan Form of Performance Share Agreement Exhibit 10.25 to Form 10-K ofXcel Energy file no 00 1-03034 for the year ended Dec 31 2010

10 14a Xcel Energy Inc 2005 Long-Term Incentive Plan Form of Restricted Stock Unit Agreement Exhibit 10.26 to Form 10-Kof Xcel Energy file no 001-03034 for the year ended Dec 31 2010

10.14b Xcel Energy Inc 2005 Long-Term Incentive Plan Form of Time-Based Restricted Stock Unit Agreement Exhibit l0.14bto Form 10-K of Xcel Energy file no 001-03034 for the year ended Dec 31 2012

10.1 Stock Equivalent Plan for Non-Employee Directors of XceI Energy Inc as amended and restated effective Feb 23 2011

Appendix to the Xcel Energy Definitive Proxy Statement file no 00 1-03034 filed April 2011

10.1 Xcel Energy Inc Nonqualified Deferred Compensation Plan 2009 Restatement Exhibit 10.07 to Form 10-K of XcelEnergy file no 001-03034 for the year ended Dec 31 2008

10.1 First Amendment effective Nov 29 2011 to the Xcel Energy Inc Nonqualified Deferred Compensation Plan 2009Restatement Exhibit 10.17 to Form 10-K of Xcel Energy file no 001-03034 for the year ended Dec 31 2011

10.1 Second Amendment dated Oct 26 2011 to the Xcel Energy Senior Executive Severance and Change-in-Control Policy

Exhibit 10.18 to Form 10-K of Xcel Energy file no 001-03034 for the year ended Dec 31 2011101 First Amendment dated Feb 20 2013 to the Xcel Energy Inc Executive Annual Incentive Award Plan as amended and

restated effective Feb 17 2010 Exhibit 10.01 to Form 10-Q of Xcel Energy file no 00 1-03034 for the quarter endedMarch 31 2013

10.20 Fourth Amendment dated Feb 20 2013 to the Xcel Energy Senior Executive Severance and Change-in-Control Policy

Exhibit 10.02 to Form 10-Q of Xcel Energy file no 001-03034 for the quarter ended March 31 2013

10.21 First Amendment dated May 21 2013 to the Xcel Energy Inc 2005 Long-Term Incentive Plan as amended and restated

effective Feb 17 2010 Exhibit 10.21 to Form 10-K of Xcel Energy file no 001-03034 for the year ended Dec 312013

10.22 Second Amendment dated May 21 2013 to the Xcel Energy Inc Nonqualified Deferred Compensation Plan 2009Restatement Exhibit 10.22 to Form 10-K of Xcel Energy file no 001-03034 for the year ended Dec 31 2013

0.23 Xcel Energy Inc 2005 Long-Term Incentive Plan Form of Long-Term Incentive Award Agreement Exhibit 10.23 to Form10-K of Xcel Energy file no 001-03034 for the year ended Dec 31 2013

0.24 Amended and Restated Credit Agreement dated as of Oct 14 2014 among Xcel Energy Inc as Borrower the several

lenders from time to time parties thereto JPMorgan Chase Bank N.A as Administrative Agent Bank of America NAand Barclays Bank Plc as Syndication Agents and Wells Fargo Bank National Association as Documentation AgentExhibit 99.01 to Form 8-K of Xcel Energy dated Oct 14 2014 file no 001-03034

NSP-Minnesota

1025 Ownership and Operating Agreement dated March 11 1982 between NSP-Minnesota Southern Minnesota MunicipalPower Agency and United Minnesota Municipal Power Agency concerning Sherburne County Generating Unit NoExhibit 10.01 to Form lO-Q for the quarter ended Sept 30 1994 file no 001-03034

10.26 Restated Interchange Agreement dated Jan 16 2001 between NSP-Wisconsin and NSP-Minnesota Exhibit 10.01 to NSPWisconsin Form S-4 file no 333-112033 dated Jan 21 2004

1027 Amended and Restated Credit Agreement dated as of Oct 14 2014 among NSP-Minnesota as Borrower the severallenders from time to time parties thereto JPMorgan Chase Bank N.A as Administrative Agent Bank of America N.Aand Barclays Bank Plc as Syndication Agents and Wells Fargo Bank National Association as Documentation AgentExhibit 99.02 to Form 8-K of Xcel Energy dated Oct 14 2014 file no 001-03034

NSP-Wiscon sin

10.28 Restated Interchange Agreement dated Jan 16 2001 between NSP-Wisconsin and NSP-Minnesota Exhibit 10.01 toForm S-4 file no 333-112033 dated Jan 21 2004

10.29 Amended and Restated Credit Agreement dated as of Oct 14 2014 among NSP-Wisconsin as Borrower the severallenders from time to time parties thereto JPMorgan Chase Bank N.A as Administrative Agent Bank of America N.Aand Barclays Bank Plc as Syndication Agents and Wells Fargo Bank National Association as Documentation AgentExhibit 99.05 to Form 8-K of Xcel Energy dated Oct 14 2014 file no 001-03034

156




PSCo

10.30 Amended and Restated Coal Supply Agreement entered into Oct 1984 but made effective as of Jan 1976 between

PSCo and Amax Inc on behalf of its division Amax Coal Co Form 10-K file no 001-03280 Dec 31 1984Exhibit 10c1

10.31 First Amendment to Amended and Restated Coal Supply Agreement entered into May 27 1988 but made effective Jan

1988 between PSCo and Amax Coal Co Form 10-K file no 001-03280 Dec 31 1988 Exhibit 0c210.32 Proposed Settlement Agreement excerpts as filed with the CPUC Exhibit 99.02 to Form 8-K of Xcel Energy file

no 00 1-03034 dated Dec 2004

10.33 Settlement Agreement among PSCo and Concerned Environmental and Community Parties dated Dec 2004

Exhibit 99.03 to Form 8-K of Xcel Energy file no 00 1-03034 dated Dec 2004

10.34 Amended and Restated Credit Agreement dated as of Oct 14 2014 among PSCo as Borrower the several lenders from

time to time parties thereto JPMorgan Chase Bank N.A as Administrative Agent Bank of America NA and Barclays

Bank Plc as Syndication Agents and Wells Fargo Bank National Association as Documentation Agent Exhibit 99.03 to

Form 8-K of Xcel Energy dated Oct 14 2014 file no 001-03034

sPs

10.35 Coal Supply Agreement Barrington Station between SPS and TUCO dated May 1979 Form 8-K file

no 001-03789 May 14 1979 Exhibit

10.36 Master Coal Service Agreement between Swindell-Dressler Energy Supply Co and TUCO dated July 1978 Form 8-K

file no 00 1-03789 May 14 1979 Exhibit 5A10.37 Guaranty of Master Coal Service Agreement between Swindell-Dressler Energy Supply Co and TUCO Form 8-K file

no 00 1-03789 May 14 1979 Exhibit 5B10.38 Coal Supply Agreement Tolk Station between SPS and TUCO dated April 30 1979 as amended Nov 1979 and

Dec 30 1981 Form l0-Q for the quarter ended Feb 28 1982 file no 001-03789 Exhibit 10b10.39 Master Coal Service Agreement between Wheelabrator Coal Services Co and TUCO dated Dec 30 1981 as amended

Nov 1979 and Dec 30 1981 Form lO-Q for the quarter ended Feb 28 1982 file no 001-03789 Exhibit 10c

10.40 Power Purchase Agreement dated May 23 1997 between Borger Energy Associates L.P and SPS

10.41 Amended and Restated Credit Agreement dated as of Oct 14 2014 among SPS as Borrower the several lenders from

time to time parties thereto JPMorgan Chase Bank N.A as Administrative Agent Bank of America N.A and Barclays

Bank Plc as Syndication Agents and Wells Fargo Bank National Association as Documentation Agent Exhibit 99.04 to

Form 8-K of Xcel Energy dated Oct 14 2014 file no 001-03034

Xcel Energy Inc

12.01 Statement of Computation of Ratio of Earnings to Fixed Charges

21.01 Subsidiaries of Xcel Energy Inc

23.01 Consent of Independent Registered Public Accounting Firm

24.01 Powers of Attorney

31.01 Principal Executive Officers certification pursuant to 18 U.S Section 1350 as adopted pursuant to Section 302 of the

Sarbanes-Oxley Act of 2002

31.02 Principal Financial Officers certification pursuant to 18 U.S Section 1350 as adopted pursuant to Section 302 of the

Sarbanes-Oxley Act of 2002

32.01 Certification pursuant to 18 U.S.C Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

99.01 Statement pursuant to Private Securities Litigation Reform Act of 1995

101 The following materials from Xcel Energy Inc.s Annual Report on Form 10-K for the year ended Dec 31 2014 are

formatted in XBRL eXtensible Business Reporting Language the Consolidated Statements of Income ii the

Consolidated Statements of Comprehensive Income iii the Consolidated Statements of Cash Flows iv the

Consolidated Balance Sheets the Consolidated Statements of Common Stockholders Equity vi Consolidated

Statements of Capitalization vii Notes to Consolidated Financial Statements viii document and entity information

ix Schedule and Schedule II

157



Northern States Power Company Section ll.7.A Other Supplemental Information Annual Report

SCHEDULE

XCEL ENERGY INCCONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

amounts in thousands except per share data

Year Ended Dec.31

2014 2013 2012

Income

Equity earnings of subsidiaries.......................... ..... 1077714 1018783 976395Total income 1077714 1018783 976395

Expenses and other deductions

Operating expenses 19756 18513 15948

Other income 537 206 652Interest charges and financing costs 84830 102914 116731

Total expenses and other deductions 104049 121221 132027

Income before income taxes 973665 897562 844368Income tax benefit 47641 50672 60861Net income 1021306 948234 905229

Other Comprehensive Income

Pension and retiree medical benefits net of tax of $2528 $5897 and $2331respectively 4022 4714 3311

Derivative instruments net of tax of $1390 $2558 and $9906 respectively 2125 1488 15503Othernetoftaxof$21$ll7and$135respectively 33 176 196

Other comprehensive loss income 1864 6378 18618Comprehensive income 1019442 954612 886611

Weighted average common shares outstanding

Basic 503847 496073 487899Diluted 504117 496532 488434

Earnings per average common share

Basic 2.03 191 1.86

Diluted 2.03 1.91 1.85

Cash dividends declared per common share 1.20 111 107

See Notes to Condensed Financial Statements

158




XCEL ENERGY INCCONDENSED STATEMENTS OF CASH FLOWS

amounts in thousands

Year Ended Dec 31

2014 2013 2012

Operating activities

Net cash provided by operating activities .................................. 842832 545177 815209

Investing activities

Capital contributions to subsidiaries 422459 535653 366783Investments in the utility money pooi 1148000 1778000 640000Return of investments in the

utility money pooi 1204000 1706000 658000

Net cash used in investing activities 366459 607653 348783

Financing activities

Repayment of proceeds from short-term borrowings net 95500 297000 52000

Proceeds from issuance of long-term debt 447595

Repayment of long-term debt 400000

Proceeds from issuance of common stock 180798 231767 8050

Repurchase of common stock 18529Purchase of common stock for settlement of equity awards 23307Dividends paid 561411 514042 486757

Net cash used in provided by financing activities 476113 62320 468543Net change in cash and cash equivalents 260 156 2117Cash and cash equivalents at beginning of period 446 602 2719

Cash and cash equivalents at end of period 706 446 602


159


Volume Required ntormationNorthern States Power Company Section U.7.A Other Supplemental information Annual Report

XCEL ENERGY INCCONDENSED BALANCE SHEETS


Dec.31

2014 2013

Assets

Cash and cash equivalents 706 446

Accounts receivable from subsidiaries 270921 240450Other current assets 47424 51086

Total current assets 319051 291982Investment in subsidiaries 12206575 11613032Other assets 114518 105073

Total other assets 12321093 11718105Total assets 12640144 12010087

Liabilities and Equity

Dividends payable 151720 139432Short-term debt 380500 476000Other current liabilities 65314 6954

Total current liabilities 597534 622386Other liabilities 30227 25475

Total other liabilities 30227 25475Commitments and contingencies

Capitalization

Long-term debt 1797901 1796276Common stockholders equity 10214482 9565950

Total capitalization 12012383 11362226Total liabilities and equity 12640144 12010087


160




NOTES TO CONDENSED FINANCIAL STATEMENTS

Incorporated by reference are Xcel Energys consolidated statements of common stockholders equity and OCT in Part II Item

Basis ofPresentation The condensed financial information of Xcel Energy Inc is presented to comply with Rule 12-04 of

Regulation S-X Xcel Energy Inc.s investments in subsidiaries are presented under the equity method of accounting Under this

method the assets and liabilities of subsidiaries are not consolidated The investments in net assets of the subsidiaries are recorded in

the balance sheets The income from operations of the subsidiaries is reported on net basis as equity in income of subsidiaries

As holding company with no business operations Xcel Energy Inc.s assets consist primarily of investments in its utility

subsidiaries Xcel Energy Inc.s material cash inflows are only from dividends and other payments received from itsutility

subsidiaries and the proceeds raised from the sale of debt and equity securities The ability of itsutility

subsidiaries to make dividend

and other payments is subject to the availability of funds after taking into account their respective funding requirements the terms of

their respective indebtedness the regulations of the FERC under the Federal Power Act and applicable state laws Management does

not expect maintaining these requirements to have an impact on Xcel Energy Inc.s ability to pay dividends at the current level in the

foreseeable future Each of its utility subsidiaries however is legally distinct and has no obligation contingent or otherwise to make

funds available to Xcel Energy Inc

Related Party Transactions Xcel Energy Inc presents its related party receivables net of payables Accounts receivable and

payable with affiliates at Dec 31 were

Thousands of Dollars________________ ___________ ______________ ___________

NSP-Minnesota 79390

NSP-Wisconsin 20117

PSCo

SPS

Xcel Energy Services Inc

Xcel Energy Ventures Inc

Other subsidiaries of Xcel Energy Inc____________ ____________ ____________ ____________

Dividends Cash dividends paid to Xcel Energy Inc by its subsidiaries were $857 million $606 million and $757 million for the

years ended Dec 31 2014 2013 and 2012 respectively These cash receipts are included in operating cash flows of the condensed

statements of cash flows

Money Pool Xcel Energy received FERC approval to establish utility money pool arrangement with the utility subsidiaries

subject to receipt of required state regulatory approvals Theutility money pool allows for short-term investments in and borrowings

between the utility subsidiaries Xcel Energy Inc may make investments in the utility subsidiaries at market-based interest rates

however the money pooi arrangement does not allow the utility subsidiaries to make investments in Xcel Energy Inc The following

tables present money pool lending for Xcel Energy Inc

Amounts in Millions Except Interest Rates_______________________

Lending limit

Loan outstanding at period end

Average loan outstanding

Maximum loan outstanding

Weighted average interest rate computed on daily basis

Weighted average interest rate at end of period

Money pooi interest income

2014 2013

Accounts Accounts Accounts

Receivable Payable Receivable

57596

Accounts

Payable

38646

28062

75954

20082

6933

74739

5705

60138

20194

8670 15145

270921 240450

Three Months Ended

Dec 31 2014

250

16

21

0.30%

0.45

161


Amounts in Millions Except Interest Rates

Lending limit

Loan outstanding at period end 16

Average loan outstanding 25.0

Maximum loan outstanding 250

Weighted average interest rate computed on daily basis 0.22%

Weighted average interest rate at end of period 0.45

Money pooi interest income 0.1

See Xcel Energys notes to the consolidated financial statements in Part II Item for other disclosures

72

88.2

243

0.30%

0.25

0.3

Docket No EOO2IGR-1 5826


Section II.7.A Other Supplemental Information Annual Report

Year Ended Year Ended Year EndedDec 31 2014 Dec 31 2013 Dec 31 2012

250 250 250

26.1

226

0.33%

N/A

0.1

162


Voume Required Information


SCHEDULE II

XCEL ENERGY INC AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTSYEARS ENDED DEC 31 2014 2013 AND 2012


Additions

Charged to Charged to Deductions

Balance at Costs and Other from Balance at

Jan Expenses ACCOUIItSa Reserves Dec 31

Allowance for bad debts

2014 53107 42765 14067 52220 57719

2013 51394 37627 14469 50383 53107

2012 58565 33808 16033 57012 51394

NOL and tax credit valuation allowances

2014 3263 139 3402

2013 3314 51 3263

2012 5683 32 2401 3314

Recove of amounts previouslywritten off as related to allowance for bad debts

Principally bad debts written off as related to allowance for bad debts

Reductions to valuation allowances for NOL and tax credit canyforwards primarily due to cbanges in tax laws expirations of certain carryforwards and

identification of various tax planning strategies

163




SIGNATURES

Pursuant to the requirements of Section 13 or 15d of the Securities Exchange Act of 1934 the registrant has duly caused this annual

report to be signed on its behalf by the undersigned thereunto duly authorized

XCEL ENERGY INC

Feb 20 2015 By is TERESA MADDENTeresa Madden

Executive Vice President Chief Financial Officer

Principal Financial Officer

Pursuant to the requirements of the Securities Exchange Act of 1934 this report has been signed below by the following persons onbehalf of the registrant and in the capacities on the date indicated above

is BEN FOWKE Chairman President Chief Executive Officer and Director

Ben Fowke Principal Executive Officer

is TERESA MADDEN Executive Vice President Chief Financial Officer

Teresa Madden Principal Financial Officer

is JEFFREY SAVAGE Senior Vice President Controller

Jeffrey Savage Principal Accounting Officer

Director

Gail Koziara Boudreaux

Director

Richard Davis

Director

Albert Moreno

Director

Richard OBrien

Director

Christopher Policinski

Director

Patricia Sampson

Director

James Sheppard

Director

David Westerlund

Director

Kim Williams

Director

Timothy Wolf

By is TERESA MADDEN Attorney-in-Fact

Teresa Madden

164

Northern States Power Company Section 1L7.A Other Sur

Sharehoder nformation

HEADGUARTERS

414 Nicollet Mall Minneapolis Minn 55401

INTERNETADDRESS

xcelenergy.com

STOCK TRANSFER AGENT

Wells Fargo Shareowner Services

1110 Centre Pointe Curve Suite 101

Mendota Heights Minn 55120

Telephone 1-877-778-6786 toll free

REPORTSAVAILABLE ONLINE

Financial reports including filings with the Securities and Exchange Commission and

Xcel Energys Report to Shareholders are available online at xcelenergy.com click on Investor

Relations Other information about XceI Energy including our Code of Conduct Guidelines

on Corporate Governance Corporate Responsibility Report and Committee Charters also

are available at xcelenergy.com

STOCK EXCHANGE LISTINGS AND TICKER SYMBOL

Common stock is listed on the New York Stock Exchange NYSE under the ticker symbol XEL

In newspaper listings it appears as XcelEngy

INVESTOR RELATIONS

Internet address xcelenergy.com or contact Paul Johnson Vice President Investor Relations

at 612-215-4535

SHAREHOLDER SERVICES

Internet address xcelenergy.com or contact Tara Heine Assistant Corporate Secretary

at 612-215-5391 or email tara.m.heinexcelenergy.com

CORPORATE GOVERNANCE

Xcel Energy has filed with the Securities and Exchange Commission certifications of

its Chief Executive Officer and Chief Financial Officer pursuant to section 302 of the

Sarbanes-Oxley Act of 2002 as exhibits to its Annual Report on Form 10-K for 2014 It has

also filed with the New York Stock Exchange the CEO certification for 2014 required by

section 303A.12a of the New York Stock Exchanges rules relating to compliance with

the New York Stock Exchanges corporate governance listing standards

To contact the Board of Directors send an email to boardofdirectorsxcelenergy.com

You also may direct questions to the Corporate Secretarys Department at

CorporateSecretaryxcelenergy.com


Voume Required Information.I


Docket No EOO2/GR1 5-826


Section 1L7.A Other Supplemental Information Annual Report

Gro

ss

Reve

nueC

onvero

nF

acto

r

Northern States Power CompanyElectric Utility State of Minnesota

DEVELOPMENT OF GROSS REVENUE CONVERSION FACTOR

Definition The incremental amount of gross revenue required to generate an

additional dollar of operating income Gross earnings fees included

Let GR Gross Revenue Conversion Factor

Federal and Minnesota Income Tax

Formula for Gross Revenue Conversion Factor

GR-T

Gross Revenue Conversion Factor

GR-0.4137

GR 1.70561

seoaio

jJeeJ

OA

IJ

Northern States Power CompanyElectric Utility

State

of Minnesota

JURISDICTIONAL FINANCIAL SUMMARY SCHEDULES

$000s

Docket

No E002/GR-15-826

Financial Information

Five Year Forecast

Schedule

A-I

Line

Description

Average Rate Base

Adjusted

Proposed

Test Year

jj

$7836115

Adjusted

Forecast Year

2Q11

$7739322

Adjusted Adjusted Adjusted

Forecast Year Forecast Year Forecast Year

2Q

i

2Q

i ZQ2Q

$7680619 $7707023 $7827061

Operating Income $439541 $394989 $375289 $327561 $305954

Allowance

for funds used during construction $33283 $40683 $34147 $27894 $32677

Total Available

for Return $472824 $435672 $409436 $355455 $338631

Overall Rate

of Return Line 4/Line 6.03% 5.63% 5.33% 4.61% 4.33%

Required Rate

of Return 7.49% 7.51% 7.51% 7.50% 7.53%

Required Operating Income Line Line $586925 $581223 $576814 $578027 $589378

Income Deficiency Line 7-Line $114101 $145551 $167379 $222572 $250747

GrossRevenueConversion Factor 1.705611 1.705611 1.705611 1.705611 1.705611

10 Revenue Deficiency Line Line $194612 $248253 $285483 $379622 $427677

11 Retail Related Revenues Under Present Rates $3034093 $3061123 $3098437 $3125972 $3234122

12 Percentage Increase Needed

in Overall Revenue Line

10 Line

Revenues

and expenses

for Transmission Cost Recovery

TCR rider have been excluded

Northern States Power CompanyElectric Utility

State

of Minnesota

RATE BASE SCHEDULESRATE BASE SUMMARY$000s

Docket

No EOO2IGR-15-826


Five Year Forecast

Schedule

A-I

Line

No

Pr

Description

Utility Plant

in

Service

Adjusted

oposed Test Year

2016

$16425447

Adjusted

Forecast Year

2017

$17036345

Adjusted

Forecast Year

2018

$17728323

Adjusted

Forecast Year

2019

$18515282

Adjusted

Forecast Year

2020

$19290077

Less Reserve

for Depreciation $7267758 $7809137 $8386448 $8998007 $9656689

Net Utility Plant

in Service $9157690 $9227208 $9341875 $9517275 $9633387

Utility Plant Held

for Future

Use

Construction Work

in

Progress 444412 473950 422411 380350 435159

Less Accumulated Deferred Income Taxe 1979773 2174957 2299225 2412087 2470788

Cash Working Capital 108129 112255 116270 118076 117642

10

11

12

13

14

Other Rate Base Items

Materials

and

Supplies

Fuel Inventory

Non-Plant Assets Liabilities

Customer Advances

Interest

on Customer Deposits

Prepaids

and Other

Regulatory Amortizations

$13579773476

371689307

556228127

$60741

$13579773476

5666

86772

556228127$57353

$13579773476

15903

86374

556228127$53966

$13579773476

27456

85941

556228127$50579

$13579773476

40396

83773

556228127$47192

15 Total Other Rate Base Items $321916 $325376 $331827 $339561 $346945

16 Total Average Rate Base $7836115 $7739322 $7680619 $7707023 $7827061

Revenues

and expenses



Northern States Power CompanyElectric Utility State

of Minnesota

RATE BASE SCHEDULESDETAILED RATE BASE COMPONENTS$000s

Line

NQ Descriotion

Electric Plant

as Booked

Production

Transmission

Distribution

General

Common

TOTAL Utility Plant

in

Service

Reserve

for Depreciation

Production

Transmission

Distribution

10 General

ii Common

12 TOTAL Reserve

for Depreciation

Net

Utility Plant

in Service

13 Production

14 Transmission

15 Distribution

16 General

17 Common

18

Net

Utility Plant

in Service

19

Utility Plant Held

for Future

Use

20 Construction Work in

Progress

Docket

No EOO2IGR-15-826


Five Year Forecast

Schedule

B-I

21 Less Accumulated Deferred Income Taxes $2241969 $1979773 $2463516 $2174957 $2616873 $2299225

22 Cash Working Capital $120285 $108129 $125184 $112255 $129469 $116270


23 Materials

and Supplies

24 Fuel Inventory

25

Non Plant Assets Liabilities

26 Customer Advances

27 Interest

on Customer Deposits

28 Prepaids

and Other

29 Regulatory Amortizations

30 Total Other Rate Base Items

31 Total Average Rate Base

$155470 $135797 $155470 $135797 $155470 $135797

84

138 73476 84138 73476 84138 73476

4275 3716 6462 5666 18178 15.903

8227 5562 8227 5562 8227 5562

28480 28127 28480 28127 28480 28127102268 89307 99366 86772 98910 86374

60741 60741 57353 57353 53966 53966

$361634 $321916 $366083 $325376 $373955 $331827

$9063386 $7836115 $8980286 $7739322 $8909870 $7680619

Adjusted

Proposed Test Year

2016

Adjusted

Forecast Year

2017

Adjusted

Forecast Year

2018

12t8L Minnesota Minnesota

jgj Minnesota

jJjjjj Jurisdiction jjji Jurisdiction

jji Jurisdiction

$1055632631135233739105

833164619353

$18861471

$919278326909613272959

727748

540996$16425447

$10896772

31906213883899

889890

732249$19593431

$94764882751152

3391796777297639611

$17036345

$113460593248046

4028350947866830618

$20400940

$986892327896253516302

827938725535

$17728323

$5668499651681

1387632306838

306

920

$8321570

$4947590551324

1232993267760268091

$7267758

$6083637686975

1438214

376829359385

$8945040

$5309141579921

1277293328863

313919$7809137

$6507818736482

1500622447044

415139$9607104

$5678024622464

1333146390194362619

$8386448

$488782724618422351473

526326

312433$10539901

$4245194

21396372039966

459989

272905$9157690

$4813135

25036462445685

513061

372864$10648391

$4167348

21712312114503

448435325691

$9227208

$48382412511565

2527728500822415479

$10793835

$41908992167161

2183156437744362916

$9341875

$0

$0

$0

$0

$524106 $444412 $554512 $473950 $488422 $422411

$0

$0

Revenues

and expenses



Northern States Power CompanyElectric

UtilityState of Minnesota

RATE BASE SCHEDULESDETAILED RATE BASE COMPONENTS

$00Os



Five Year Forecast

Schedule B-I

Net UtilityPlant in Service

13 Production

14 Transmission

15 Distribution

16 General

17 Common

18 Net Utility Plant in Service

21 Less Accumulated Deferred Income Taxes $2755037 $2412087 $2832151 $2470788

22 Cash Working Capital $131505 $118076 $131187 $117642


23 Materials and Supplies

24 Fuel Inventory

25 Non-Plant Assets Liabilities


27 Interest on Customer Deposits

28 Prepaids and Other


33 Total Other Rate Base Items


$383296 $339561 $392236 $346945

$8935544 $7707023 $9067678 $7827061

Adjusted

Forecast Year

2019

AdjustedForecast Year

2020

Minnesota

QuillJurisdiction

Line

No

Electric Plant as Booked

Production

Transmission

Distribution

General

Common

TOTAL Utility Plant in Service

Reserve for Depreciation

Production

Transmission

Distribution

10 General

11 Common

12 TOTAL Reserve for Depreciation

Total

Qi

$11841443

3367051

4192666

1017235

894331

$21312726

$6966630

$786141

1565776

517512

472488

$10308547

$4874813

2580910

2626890

499723

421843

$11004179

$0

Minnesota

Jurisdiction

$10301622

2885573

3658370

888530

781187

$18515282

$6077157

664908

1391483451746

412713$8998007

$4224465

2220665

2266887

436784

368473

$9517275

$12184442

3589832

4369812

1088381

972380

$22204847

$7473884

8365051634495

589416

529980

$11064280

$4710558

2753327

2735317

498965

442400$11140567

$0

$10601217

3080163

3808660

950675

849362$19290077

$6518603

707809

1452794

514552

462931

$9656689

$4082614

2372354

2355865436123

386430

$9633387

$019 Utility Plant Held for Future Use

20 Construction Work in Progress

$0

$434612 $380350 $498212 $435159

$155470 $135797 $155470 $135797

84138 73476 84138 73476

31401 27456 46211 40396

8227 5562 8227 556228480 28127 28480 2812798415 85941 95932 83773

50579 50579 47192 47192

Revenues and expenses for Transmission Cost Recovery TCR rider have been excluded


Electric Utility State

of Minnesota

RATE BASE SCHEDULES

RATE BASE ADJUSTMENT SCHEDULES

2016 Unadjusted Test Year versus Final Adjusted Test Year

l000sl

Plant as booked

productIon

Transmission

Distribution

General

Common

Total Utility Plant

in Service

24

Reserve

for Depreciation

Production

Transmission

Distribution

General

Common

Total Reserve

for Depreciation

Net

Utility Plant

Production

Transmission

Distribution

General

Common

Net

Utility Plant

in

Service

25

Utility Plant Held

for Future

Use

2627 Construction Work

in

Progress

2829 Less Accumulated Deferred Income lazes

30


Cash Working Capital

Materials

and Supplies

Fuel Inventory

Non Plant Assets

and Liabilities

Customer Advances

Customer Deposits

Prepaymeots


40 Total Other Rate Base

41

9293468

2906669

3272959

727748

540.996

R29346R

2906669

3272959

727748

540.996

103 3611

371

Docket

No E002/GR

15

826


Schedule

Page

of

9192783

2690961

3272959

727748

540996

16425447

Base Data Update Adjustment Amortization Rider Removals Secondary Calculations

Like Kind

Unadjusted

w/o Iioadiusted

NO

L

Total Black

Dog Eockange Remaining Life Sherco Depr ADIT Prorate

for Cask Working Change

in

Cost

Net Operating

No

Description

NO

L

199

199 Unadiusted Screenhouse Program Study NSPM P1 EPLI Recovery Deferral Rider

RE

D Rider

TCR

IRS Capital

of

Cap

Sal Loss

199 2016 Test Year

Work P000r Rofarence WE38 WL1 WPA2Q WE.Az2B WEA2 tAv84 WE.A38 WPAB W

WB

W2A

III

121

131

141

161

171

181

191 1101 1111 1121 1131

14

1S

f

2676

10

1112

1314

15

16

17

18

19

2021

22

23

710

3G

31

32

3334

35

36

37

38

39

16741841 16741841 2676

100

/3

211

36

4947814 4947014

136

630 1001 4947590

554837 554837311 3102 551324

1231334 1231334 1660 1232993

266556 266556 1204 267760

267994 267994

97 268091

7267731 7267735

136 2861

630

221 3492 7267758

4346455 4346451 2540

630 10317 4245193

2351832 2351832 6141 201z064 2139637

2041625 2041625 16601 2039966

461192 461192 12041 419988

/3002 /7300 loll 272905

9474106 9474106 2540 2.661

631 1441157

201

354 9157689

541694 641694 2014 3400 61461 444412

1989157 S400S 2043563

25 21026 3799 7398 2506 7010 3818 1979773

120.1/0

121

110 13041 3001

135797 135797 135797

73476 73476 73476

3710

16

5S

6

562 ilrrt

20121

127

89307

140005

89307

140005

51433

51433

9308

9308 13041

89307

60741

213787

8166248

l4 05 8112243

77

l

91 30407 5509

194

11 41 57910 13041 1913 78361154

2

Total Average Rate Base



of Minnesota

RATE BASE SCHEDULES


2017 Unadjusted Forecast Year versus 2017 Adjusted Forecast Year

$000s

lme

No

Descniptmn

Base Data Update

Black

Dug

Screenhouse

Adiustmevt Amortization Rider Removals Secondary CalculationsN

et Operating

Total

lossUnadjusted

Like Kind

Enchange

Program

Remaining Life Sherco DeprP1

EP

U

Recovery1Study NSPM Deferral

Rider

RE

S Rider

TCR

ADIT Prorate

for

IRS

Cash Working

Capital

Change

in

Cost

of

Capital

10

11

12

13

54359677776

3524416

3391796

777297

Docket

No E002/GR

iS

826


Five Year Forecast

Schedule

Page

of

1706.72

1010

16

22

9476488

2751152

3391796

777297

Plant

as hooked

Production

Transmission

Distribution

General

Common

Total Utility Plant in Service

Reserve

for Depreciation

10 Production

11 Transmission

12

Distribution

13 General

14 Common

iS Total Reserve

for Depreciation

15

17

Net Utility Plant

18 Production

19 Transmission

20 Distribution

21 General

22 Common

23

Net

Utility Plant

in

Service

24

25

Utility Plant Held

for Future

Use

26


in

Progress

28

29

Less Accumulated Deferred income Taues

30

31 Other Rate Base items

32 Cash Working Capital

33 Materials

and Supplies

34 Fuel Inventory

3S

Non

Plant Assets

and Liabilities


37 Customer Deposits

38 Prepayments


40 Total Other Rate Base

41

639611

17510897 5435

17

161

67

27 17036345

5312555

459

990

853 5309141

5a7648

161

5b0 579921

1275634 16601277293

327659 1204328863

313922

97 313919

7817317

459 2961

990 509i

560 7809137

4365221 4977

970 251660 4167348

2436769 10515 254917 2171231

2116163

660 2114503

449639 1264 448435

325789

li a25imi

9693580 4977

vli

990 212496 54967 9227208

568912

30i

01 114056 473950

2096609

16 4041 19947 3594 27067 9746 116407 129019 2174957

135797

112

ii

135797

73476 73476

55665666

5621

S6

28

127 12R1

86772

268022

48549

48549

8805

8BOS 112261

86772

S7353

213121

8433906

ill

161 1566 28702 5211

IS

410i

14

266 16907

ii i7

oil 77393224


Plant

as booked

Production

Transmission

Distribution

General

Common

Total Utility Plant

in Seivice

Reserve

for Depreciation

10 Production

11 Transmission

12 Distribution

13 General

14 Common

15 Total Reserve

for Depreciation

16

17

Net Utility Plant

Production

Transmission

Distribution

General

Common

Net Utility Plant

In

Service

24

25

Utility Plant Held

for Future

Use

26


in

Progress

28

29 Less Accumulated Deferred Income Taxes

30

Other Bate Base Items


Materials

and Supplies

Fuel Inventory

Non

Plant Assets

and Liabilities

Customer Advances

Customer Deposits

Prepayments


Total Other Rate Base

10073352 2295

3156039

3516302

827938

20510

14i

Docket

No E002/GR

15

826


Five Year Forecast

Schedule

Page

of

9868923

2789625

3516302

827938



of Minnesota

RATE BASE SCHEDULES



$0000

Line

No

Description

Base

Unadjusted

Data update

Black

Dog

Screenhouse

AdjustmentArnorti zation Rider Removals Secondary Cakula Sons

ge

in Cnst

Net Operating

Total

Capital Loss

Like Kind

Exchange

Program

Remaining Life

Study NSPM

P1

EP

U

Recoveryj

Sherco Dept

Deferral

ADIT Prorate

for1

Cash Working Chaneider

ncs Rider

ICR

IRS Capital

of

10

11

12

13

fill

18

19

20

21

22

23

725535

la299165 2295

217

16

3Il 17728323

5685213

747 5892 13570 5678024

635409 31/1

12

iS622464

1331486 1660 1333146

388990 1204 390194

362522

97 362619

8403620

747 2961 5892 14205 125511 8386448

4388339 1547 5832 19211

35 4190899

2520630 101161i 343104 2167161

2184815 1660 2183156

438948

04 437744

363013

il 362916

9895545 1547 2041 Sf97 203

hI 1343104 9341875

473837 3034

40

432 422411

2189107

30

405 18668 3388

45

bJ3

277 16166 186578 2299225

135797

1152/0

111

/0

135797

73476 73476

15903 15903

28

127 25127

86374

277861

45

665

45665

8302

8302 llb2/0

86374

53966

215558

8458135

ii 9111 4433 26997 4913

SE

a

/15 16166

21

106

iS 7680619

31

32

33

34

35

36

37

38

39

40

41




of Minnesota

RATE BASE SCHEDULES



$000s

Docket

No E002/GR

15

826


Five Year Forecast

Schedule

Page

of

Plant

as booked

production

TransmissiOn

Distribution

General

Common

Total Utility Plant in Seruice

Reserve

for Depreciation

10 Production

11 Transmission

12

Distribution

13 General

14 Common

15 Total Reserve

for Depreciation

16

17

Net Utility Plant

SR Production

19 Transmission

20 Distribution

21 General

22 Common

23

Net Utility Plant

in

Service

24

25

Utility Plant Held

for Future

Use

26


in

Progress

2a

29 Less Accumulated Deferred Income Tanes

30

31 Other Rate Base Items

32 Cash Working Capital

33 Materials

and Supplies

34 Fuel Inventory

35

Non

Plant Assets

and Liabilities

36 Customer Aduances

37 Customer Deposits

sa Prepayments


40


41

10009274

930

3315843

3658370

888530

10301622

2885573

3658370

8aa530

Line

No

ease

Unadjusted

Description

Data Update

Black

Dog

Screenhouse

AdnstrnentAmortization Rider Removals Secondary Calculations

rig

TotalLike Kind

Eochange

Program

Remaining Life

Study NSPM

P1

EP

U

Recovery

Sherco Depr

Deferral

Rider

RE

S Rider

TCR

AO

l

Prorate

for

IRS

Cash Working

Capital

Change

in Cost

of Capital

Net Operati

Loss

121

10

11

12

13

20

72

10

113 14t921

781187

19153205

530

211

lht i4iJ

21 18515282

6091023

777 18150

22

79v 6077157

684927

syy

124 664908

1389824 1660 13914a3

450542 1204 451746

412616

97 412713

9ola932

777 2961 18150 9381

19

432 8998007

4428251 2107 1R150 103940 4224465

2630916

101 1400095 2220665

2268547 1160 2266887

437Ra9

11

204 436784

368570368473

10134273 110/

u53

10 17405 400035 9517275

380355

iS 380350

2269907

25 7407 17489 3183 99517

41

29 112109 237913 2412087

135797

1180/6 5510/0

135797

73476 73476

2745627456

562

120

127 1121

85941

288982

42791

42791

7799

7799

v8

0/5

85941

50579

221485

8533703 51611

.0

/44 25292 4616

93 SEct

404 12109

Ill

01 77070234

2 Total Aterage Rate Base



of Minnesota

RATE BASE SCHEDULES



DODs

Plant as booked

Production 10808870

Transmission 3555108

Distribution 3808660

General 950675

Common 949.362

24

Reserve

for Depreciation

Production

Transmission

Distribution

General

Common

Total Reserve

for Depredation

Net Utility Plant

Production

Transmission

Distribution

General

Common

Net Utility Plant

in

Service

25

Utility Plant Held

for Future

Use

26


in

Progress

28

29

Less Accumulated Deferred Income Taoes



Materials

and Supplies

Fuel Inventory

Non Plant Assets

and Liabilities

Customer Advances

Customer Deposits

Pre payments



Docket

No E002/GR

iS 826


Five Year Forecast

Schedule

Page

of

10601217

3080163

3808660

950675

849362

19290077

No

Line

Description

Base Data update Adjustment Amortization Rider Removals Secondary Calculatmns

ng

UnadjustedBlack

Dog

Screenhoose

Like Kind

Exchange

Program

Remaining Life

Study NSPM

P1

EP

U

Re

Sherco Deprrovery

Deferral

Rider

RE

S Rider

ICR

ADIT Prorase

furlIRS

Cash Working Change

in Cost

Capital

of

Capital

Net Operasi

Loss

Total

11

13

SI

161

17

IsI

191

10

11

112

13

900

Total Utility Plant in

Service

170

.7

ID 713 420702

10

11

12

13

14

iS16

17

is19

20

2122

23

19928674

if 10 2114

sI

14 0.20

6517435

535 32291

31

50 6518603

736157

10j 71541 707809

14S1135 1660 1452794

513348 1204 514552

462834

97 462931

9680908

635 2961 32291 955fi 154i 9656689

4291435 1564 9291 1574.2551 4082614

2774951

90t 392652 2372354

2357025

11 2355865

437327

15

204 436123

386128 13/I 386430

10247765

564 2961 32791

104

p09 3926 9633387

435159

01 435159

2315685

26 Sal/SI 16310 2978 62009

49 8411 1839 257980 2470788

1112/421 111642

135797 135797

73476 73476

40396 40396

552

5.2

20

127 120127

83773

39896 7295

83773

47192

299753 39896 7295 11/54 229303

8666993

ii to

1.X

531 23587 4318

900

040 9i

93

lii 111

20 19 7827051

30

31

32

33

34

35

36

37

38

39

40

41

42

Total Average Rate Base



of Minnesota

RATE BASE SCHEDULES

RATE EASE ADJUSTMENT SCHEDULES

2016 Unadjusted Test Year versus Final Adjusted Test Year

Docket

No E002/GR-16-826


Schedule

Page

of

Adjustment Type

Data Update

Rate Case Adjuatments plant related

Rate Cane Adjustments plant related

Rate Case Adjustments riders

Rate Case Adtustmenta ndera

Rate Case Adlustmenta amortizations

Rate Case Adlustments amortizations

Adjustment

Black

Dog Screenhouse

Like Kind Exchange Program

Remaining Life Study NSPM

RE

S Rider Removal

TC

R Rider Removal

Sherco Deferral

RI

EP

U Deferral

Adjustment DescriptIon

Update teat year

for Black

Dog project changes

Ref ects reserve adjustment

due

to

net salvage

This adjustment updates

the

test year base data

to include

the

impact

of

the Remaining Life adjustment

as proposed

by

the Company

in Docket EG002/D

15

46

Removes costs

and revenues related

to items being recovered

in rate riders

Removes costs

and revenues related

to items being recovered in rate riders

Reflects

the Sherco costs deferred

in Docket

No E002/GR-1

868

in

the 2016 test year

Reflects

the

RI

EP

U costs deferred

in Docket

No EO02IGR

13

868

in

the 2016 test year

Note Revenues reflect calendar month sales

Northern States Power Company Docket No EOO2IGR-1 5-826

Electric Utility State of Minnesota Financial Information

OPERATING INCOME SCHEDULES Five Year Forecast

JURISDICTIONAL STATEMENT OF OPERATING INCOME Schedule A-I

$000sAdjusted

Proposed Adjusted Adjusted Adjusted Adjusted

Line Test Year Forecast Year Forecast Year Forecast Year Forecast Year

Description 2016 2017 2018 2Q1 .ZQZQ

809

586984

820

601671

$3033285 $3060303 $3097608 $3125156 $3233276

829 816 847

617668 639428 669017

$3621078 $3662794 $3716105 $3765400 $3903140

QgevenuesRetail

CIP Revenue Adjustment

Interdepartmental Transportation

Other Operating

Gross Earnings Tax

Total Operating Revenues

Expenses

Operating Expenses

Fuel Purchased Energy

Power Production

Transmission

10 Distribution

11 Customer Accounting

12 Customer Service Information

13 Sales Econ DvIp Other

14 Administrative General

15 Total Operating Expenses

16 Depreciation

17 Amortizations

Taxes

18 Property

19 Gross Earnings

20 Deferred Income Tax ITC

21 Federal State Income Tax

22 Payroll Other

23 Total Taxes

24 Total Expenses

$1001096 $1048626 $1090454 $1125173 $1248543

681521 685113 686398 697081 707601

205186 207385 214589 243960 255579

108023 114600 110551 111186 112100

49315 49562 49823 50555 51413

91110 91143 91166 91209 91241

69 69 69 69 69

206579 210586 217829 224709 228312

$2342900 $2407084 $2460878 $2543941 $2694858

$471286 $543044 $569829 $612765 $643851

$39585 $27804 $28264 $21117 $17523

$186751 $195116 $200621 $207141 $209086

186991 118692 125679 89250 242273527 52173 73218 66271 3793

27550 28238 28763 29896 30496

$327766 $289873 $281845 $260017 $240953

26 Total Operating Income

$3181537 $3267805 $3340816 $3437839

25 AFUDC 33283 40683 34147 27894 32677

$3597186

$472824 $435672 $409436 $355455 $338631


Northern States Power CompanyElectric Utility State

of Minnesota

OPERATING INCOME SCHEDULESSTATEMENT

OF OPERATING INCOME

$000sAdjusted

Proposed Test Year

2016

AdjustedForecast Year

2017

Docket

No E002/GR-15-826


Five Year Forecast

Schedule

B1

Adjusted

Forecast Year

2018

Line Total Minnesota Total Minnesota Total Minnesota

No Description

ji Jurisdiction iiii Jurisdiction

ji Jurisdiction

Operating Revenues

Retail $3487

931 $3033285 $3538361 $3060303 $3583340 $3097608


Interdepartmental Transportation

809

809

820

820

829

829

OtherOperating 670500 586984 687396 601671 705828 617668Gross Earnings

Tax

Total Operating Revenues $4159240 $3621078 $4226577 $3662794 $4289997 $3716105

Operating Expenses

Fuel Purchased Energy $1144758 $1001096 $1198031 $1048626 $1244

554 $1090454

Power Production 780406 681521 785100 685113 786605 686398

Transmission 234941 205186 237662 207385 245910 214589

10 Distribution 124690 108023 131538 114600 127801 110551

11 CustomerAccounting 57948 49315 58306 49562 58638 49823

12 Customer Service Information 92454 91110 92915 91143 92846 91166

13 Sales Econ Dvlp Other

119

69

120

69

120

69

14 Administrative General 237995 206579 242402 210586 250579 217829

15 Total Operating Expenses $2673311 $2342900 $2746072 $2407084 $2807053 $2460878

16

Depreciation $545308 $471286 $622164 $543044 $652925 $569829

17 Amortizations 39447 39585 27853 27804 28267 28264

Taxes

18 Property $225901 $200621

19 Gross Earnings

20 Deferred Income

Tax

ITC

21 Federal State Income

Tax

22

Payroll Other

23 Total Taxes

24 Total Expenses $3640673 $3181537 $3743829 $3267805 $3827294 $3340816

25 Allowance

for Funds Used During Construction

26 Total Operating Income $557864 $472824 $529147 $435672 $501655 $409436

$210192

2200437924431616

$382608

$186751

186991

7352727550

$327766

$219746 $195116

146282

5069432405

$347739

118692

52173

28

238

$289873

39298

149

268

6912833008

$339050

33283

1256797321828763

$281845

46398 40683 38952 34147

Revenues

an

d expenses

fo

r certain rate riders have been included


OPERATING INCOME SCHEDULESSTATEMENT OF OPERATING INCOME

$000sAdjusted

Forecast Year

2019



Five Year Forecast

Schedule B-I

Adjusted

Forecast Year

2020

Taxes

18 Property

19 Gross Earnings

20 Deferred Income Tax TC

21 Federal State Income Tax

22 Payroll Other

23 Total Taxes

24 Total Expenses

Line Total Minnesota Total Minnesota

No itj Vjji Jurisdiction jji Jurisdiction

Ooeratinp Revenues

Retail $3620431 $3125156 $3706511 $3233276


Interdepartmental Transportation 816 816 847 847

Other Operating 730882 639428 764891 669017

Gross Earnings Tax

Total Operating Revenues $4352130 $3765400 $4472249 $3903140

pQnesOperating Expenses

Fuel Purchased Energy $1282776 $1422276 $1248543

Power Production 798827 810801 707601

Transmission 279535 292838 25557910 Distribution 128473 129602 112100

11 Customer Accounting 59519 60493 51413

12 Customer Service Information 92928 93001 91241

13 Sales Econ Dvlp Other 120 120 69

14 Administrative General 258528 262638 228312

15 Total Operating Expenses $2900706 $3071769 $2694858

$1125173

697081

243960

111186

5055591209

69

224709

$2543941

16 Depreciation

17 Amortizations

$702426 $612765

21080 21117

$738072 $643851

17554 17523

$233324

111914

6319334307

$316352

$207141

89250

6627129896

$260017

$235473

74001526

34997$279396

26 Total Operating Income

$209086

24223793

30496

$240953

25 Allowance for Funds Used During Construction 31730 27894 37494 32677

$3940564 $3437839 $4106791 $3597186

$443296 $355455 $402952 $338631

Revenues and expenses for certain rate riders have been included

35 Total State and Federal Income Taxi 792441 735271 506941 521731 691281 732181



Five Year Forecast

Schedule C1

Adjusted Adjusted Adjusted

Proposed Test Year Forecast Year Forecast Year

2016 2017 2018

Total

Utility

$4226577

2746072650017398433432054

$622164

117750

146282

68915

144903387

$972989

Minnesota

Jurisdiction

$3662794

2407084570847-47342816

$543044

102850

118692

60188

122103387

$840371

Total

UtiIity

4289997

2807053681192408177

$393576

$652925

123700

149268

6662112499

3387

$1008400


OPERATING INCOME SCHEDULESCOMPUTATION OF FEDERAL AND STATE INCOME TAXES

$000s

Line Total

No Qition Utility

Income Before Taxes

Total Operating Revenues $4159240

less Total Operating Expenses 2673311Book Depreciation Amortizatior 584755Taxes Other Than income

Total Before Tax Book Income 439322

Tax Additions

Book Depreciation $545308Nuclear Fuel Book Burn 119232

Deferred Income Taxes and ITC 220043Nuclear Outage Amortization 69733

10 Avoided Tax interest 14621

11 Other Book Additions 3387

12 Total Tax Additions $972324

Tax Deductions

13 Tax Depreciation and Removal Exper $960303

14 Debt interest Expense 20316115 Manufacture Production Deduction

16 Nuclear Outage Amortization 45498

17 Other Tax/Book Timing Differences 1076618 NOL Generated

19 NOL Utilized 351718

20 Net Preferred Stock Deduction

21 Total Tax Deductions $1571446

22 State Taxable Income $159800

23 State income Tax Rate 9.80%

24 State Taxes before Credits $15660

25 State RE Credit 55926 Deferred State Tax Credits Due to NOL 559

27 Total State Income Taxes 16778128 Federal Sec 199 Production Deduction 342629 Federal Taxable Income 146447

30 Federal income Tax Rate 35.00%

31 Federal Taxes before Credits 51257

32 Federal Tax Credits 4930333 Deferred Federal Tax Credits Due to 38094

34 Total Federal Income Taxes

Minnesota

Jurisdiction

$3621078

2342900510871401292

$366014

$471286104144

186991

60902

118193387

$838529

$830104

175529

39736

9407

295746

$1350522

$145980

9.80%

$14306

559559

154243426

133982

35.00%

46894

43052

Minnesota

Jurisdiction

3716105

2460878598093355063302071

$569829

108047

12567958184

10531

3387

$875658

$838641173582

41291

11394

$1064907

$112822

9.80%

$11057

559

10498

34020

68305

35.00%

23907

4548662136

837151

$904833 $780386 $969711

202954 174909 201363

87345 76284 47278

11276 9853 13040

39186 11394

$1245594 $1041432 $1242786

$159449 141755 $159189

9.80% 9.80% 9.80%

15626 $13892 15601

559 559 559

1$ 15067 13333 15042

33098 31432 38221

111284 96989 105926

35.00% 35.00% 35.00%

38949 33946 37074

54753 46470 5372552982 67519

____________ 65506j

31843 49958

624661 581031 657611



OPERATING INCOME SCHEDULESCOMPUTATION OF FEDERAL AND STATE INCOME TAXES

$000sAdjusted

Forecast Year

2019



Five Year Forecast

Schedule C-I

Adjusted

Forecast Year

2020

Line

No DescriDtion

Income Before Taxes

Total Operating Revenues

less Total Operating Expenses

Book Depreciation Amortization

Taxes Other Than Income

Total Before Tax Book Income

Total Minnesota Total Minnesota

_flL_ Jurisdiction Utility Jurisdiction

$4352130 3765400 $4472249 $3903140

2900706 2543941 3071769 2694858723505 633882 755626 661375379545 326287 277870 _J2j69348373 $261290 366985 309747

Tax Additions

Book Depreciation

Nuclear Fuel Book Burn

Deferred Income Taxes and ITC

Nuclear Outage Amortization

10 Avoided Tax Interest

11 Other Book Additions

12 Total Tax Additions

13

14

15

16

17

18

19

20

21

22 State Taxable Income

24 State Taxes before Credits

$702426 $612765 $738072 $643851

125439 109566 129250 112895

111914 89250 7400 242268042 59425 67256 58739

12251 10776 15466 13465

3387 3387 3387 3387

$1023459 $885169 $960832 $829916

86393

14408

$816047 $878549 $760642173408 206743 178457

3837514134

$1243742 $1077496 $1145409 $991607

$128090 $68964 $182408 148056

$12553

25 State RE Credit

26 Deferred State Tax Credits Due to NOL

$6758 17876 $14509

559 559 559 559

27 Total State Income Taxes 11994 6199 17317 1395028 Federal Sec 199 Production Deduction 44950 39400 58178 5084029 Federal Taxable Income 71146 23364 106913 83265

34 Total Federal Income Taxes 751871 157911 101581

35 Total State and Federal Income Taxes 1$ 631931 662711 1526 3793

Tax Deductions

Tax Depreciation and Removal Expense $941891Debt Interest Expense 201050Manufacture Production Deduction

Nuclear Outage Amortization

Other Tax/Book Timing Differences

NOL Generated

NOL Utilized

Net Preferred Stock Deduction_____________

Total Tax Deductions

7545312588

4393916177

23 State Income Tax Rate 9.80% 9.80% 9.80% 9.80%

30 Federal Income Tax Rate 35.00% 35.00% 35.00% 35.00%

31 Federal Taxes before Credits 24901 8178 37419 29143

32 Federal Tax Credits

33 Deferred Federal Tax Credits Due to NOL47801 40313 4664952287 40335 6561

39300


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