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Dec. 31
(Thousands of dollars) 2005 2004
Assets
Current assets:
Cash and cash equivalents $ 72,196 $ 23,361
Accounts receivable – net of allowance for bad debts: $39,798 and $34,299, respectively 1,011,569 761,264
Accrued unbilled revenues 614,016 435,431
Materials and supplies inventories – at average cost 159,560 161,323
Fuel inventory – at average cost 64,987 64,265
Natural gas inventories – at average cost 310,610 214,964
Recoverable purchased natural gas and electric energy costs 395,070 264,628
Derivative instruments valuation – at market 213,138 129,218
Prepayments and other 99,904 149,538
Current assets held for sale and related to discontinued operations 200,811 367,248
Total current assets 3,141,861 2,571,240
Property, plant and equipment, at cost:
Electric utility plant 18,870,516 18,236,957
Natural gas utility plant 2,779,043 2,617,552
Common utility and other property 1,518,266 1,476,553
Construction work in progress 783,490 721,335
Total property, plant and equipment 23,951,315 23,052,397
Less accumulated depreciation (9,357,414) (9,050,636)
Nuclear fuel – net of accumulated amortization: $1,190,386 and $1,145,228, respectively 102,409 74,308
Net property, plant and equipment 14,696,310 14,076,069
Other assets:
Nuclear decommissioning fund and other investments 1,145,659 1,023,481
Regulatory assets 963,403 850,636
Derivative instruments valuation – at market 451,937 424,786
Prepaid pension asset 683,649 642,873
Other 164,212 175,174
Noncurrent assets held for sale and related to discontinued operations 401,285 540,584
Total other assets 3,810,145 3,657,534
Total assets $21,648,316 $20,304,843
Liabilities and Equity
Current liabilities:
Current portion of long-term debt $ 835,495 $ 223,655
Short-term debt 746,120 312,300
Accounts payable 1,187,489 903,609
Taxes accrued 235,056 216,439
Dividends payable 87,788 83,405
Derivative instruments valuation – at market 191,414 135,098
Other 345,807 348,557
Current liabilities held for sale and related to discontinued operations 43,657 112,931
Total current liabilities 3,672,826 2,335,994
Deferred credits and other liabilities:
Deferred income taxes 2,191,794 2,065,665
Deferred investment tax credits 131,400 143,028
Regulatory liabilities 1,710,820 1,630,545
Derivative instruments valuation – at market 499,390 450,883
Asset retirement obligations 1,292,006 1,091,089
Customer advances 310,092 303,928
Minimum pension liability 88,280 62,669
Benefit obligations and other 343,201 327,662
Noncurrent liabilities held for sale and related to discontinued operations 6,936 89,242
Total deferred credits and other liabilities 6,573,919 6,164,711
Minority interest in subsidiaries 3,547 3,220
Commitments and contingencies (see Note 14)
Capitalization (see Statements of Capitalization):
Long-term debt 5,897,789 6,493,020
Preferred stockholders’ equity 104,980 104,980
Common stockholders’ equity 5,395,255 5,202,918
Total liabilities and equity $21,648,316 $20,304,843
See Notes to Consolidated Financial Statements.
XCEL ENERGY 2005 ANNUAL REPORT 43
CONSOLIDATED BALANCE SHEETS