Xcel Energy 2000 Annual Report Download - page 35

17. CAJUN PRO FORMA RESULTS
During March 2000, NRG completed the acquisition of two fossil-fueled generating plants from Cajun Electric Power Cooperative, Inc., for approximately
$1 billion. The following information summarizes the pro forma results of operations as if the acquisition, which was accounted for as a purchase, had
occurred as of the beginning of the respective periods for which pro forma information is presented. The preacquisition period information is not necessarily
comparable to the postacquisition period information.
Actual Results
(Millions of dollars, except earnings per share) 2000 1999
Revenue $11,592 $7,816
Net income 527 571
Earnings available for common shareholders 523 566
Total earnings per share $ 1.54 $ 1.70
Pro Forma Results
(unaudited)
(Millions of dollars, except earnings per share) 2000 1999
Revenue $11,672 $8,184
Net income 523 574
Earnings available for common shareholders 519 569
Total earnings per share $ 1.54 $ 1.71
18. SEGMENT AND RELATED INFORMATION
Xcel Energy has five reportable segments: Electric Utility, Gas Utility and three of its nonregulated energy businesses, NRG, Xcel International and e prime,
all subsidiaries of Xcel Energy.
•Xcel Energy’s Electric Utility generates, transmits and distributes electricity in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota,
Colorado, Texas, New Mexico, Wyoming, Kansas and Oklahoma. It also makes sales for resale and provides wholesale transmission service
to various entities in the United States. Electric Utility also includes electric trading.
•Xcel Energy’s Gas Utility transmits, transports, stores and distributes natural gas and propane primarily in portions of Minnesota, Wisconsin,
North Dakota, Michigan, Arizona, Colorado and Wyoming.
•NRG develops, builds, acquires, owns and operates several nonregulated energy-related businesses, including independent power produc-
tion, commercial and industrial heating and cooling, and energy-related refuse-derived fuel production, both domestically and outside the
United States.
•Xcel Energy International’s most significant holding is Yorkshire Power, a joint venture equally owned by Xcel Energy International and a
subsidiary of American Electric Power Co. Yorkshire’s main business is the distribution and supply of electricity and the supply of natural gas
in the United Kingdom.
•e prime trades and markets natural gas throughout the United States.
Revenues from operating segments not included above are below the necessary quantitative thresholds and are therefore included in the All Other category.
Those primarily include a company involved in nonregulated power and natural gas marketing activities throughout the United States; a company that
invests in and develops cogeneration and energy-related projects; a company that is engaged in engineering, design construction management and other
miscellaneous services; a company engaged in energy consulting, energy efficiency management, conservation programs and mass market services; an
affordable housing investment company; a broadband telecommunications company; and several other small companies and businesses.
To report net income for electric and natural gas utility segments, Xcel Energy must assign or allocate all costs and certain other income. In general, costs are:
•Directly assigned wherever applicable;
•Allocated based on cost causation allocators wherever applicable; and
•Allocated based on a general allocator for all other costs not assigned by the above two methods.
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XCEL ENERGY INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS