Xcel Energy 2007 Annual Report Download - page 101

The components of Xcel Energy’s net deferred tax liability from continuing operations (current and noncurrent
portions) at Dec. 31 were:
2007 2006
(Thousands of Dollars)
Deferred tax liabilities:
Differences between book and tax bases of property .................... $2,535,181 $2,306,160
Regulatory assets .......................................... 182,215 153,749
Employee benefits ......................................... 16,707 25,291
Service contracts .......................................... 6,724 7,592
Partnership income/loss ...................................... 5,119 4,248
Other ................................................. 31,965 29,826
Total deferred tax liabilities ..................................... $2,777,911 $2,526,866
Deferred tax assets:
Net operating loss carry forward ................................ $ 77,350 $ 101,316
Tax credit carry forward ...................................... 103,585 99,025
Other comprehensive income .................................. 19,794 14,808
Deferred investment tax credits ................................. 44,220 47,606
Regulatory liabilities ........................................ 32,608 41,254
Accrued liabilities and other ................................... 70,079 71,572
Total deferred tax assets ....................................... $ 347,636 $ 375,581
Net deferred tax liability .................................... $2,430,275 $2,151,285
8. Preferred and Common Stock
Preferred Stock — Xcel Energy has authorized 7,000,000 shares of preferred stock with a $100 par value. At Dec. 31,
2007 and 2006, Xcel Energy had six series of preferred stock outstanding, redeemable at its option at prices ranging
from $102.00 to $103.75 per share plus accrued dividends. The holders of the $3.60 series preferred stock are entitled
to three votes per each share held. The holders of the other series of preferred stock are entitled to one vote per share.
In the event dividends payable on the preferred stock of any series outstanding is in arrears in an amount equal to four
quarterly dividends, the holders of preferred stocks, voting as a class, are entitled to elect the smallest number of
directors necessary to constitute a majority of the board of directors. The holders of common stock, voting as a class,
are entitled to elect the remaining directors.
The charters of some of Xcel Energy’s subsidiaries also authorize the issuance of preferred stock. However, at Dec. 31,
2007 and 2006, there are no preferred shares of subsidiaries outstanding.
Preferred Preferred
Shares Shares
Authorized Par Value Outstanding
SPS ......................................... 10,000,000 $1.00 None
PSCo ........................................ 10,000,000 0.01 None
Common Stock and Equivalents — Xcel Energy has common stock equivalents consisting of convertible senior notes,
401(k) equity awards, restricted stock units and stock options, as discussed later. Restricted stock units and performance
shares are included as common stock equivalents when all necessary conditions for issuance have been satisfied by the
end of the period being reported.
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