Xcel Energy 2007 Annual Report Download - page 95
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Summarized Financial Results of Discontinued Operations
All Other
Utility Segment Segment Total
(Thousands of Dollars)
2007
Operating revenues ............................................ $ — $ 36 $ 36
Operating income, interest and other income, net ......................... (2) (1,150) (1,152)
Pretax income from discontinued operations ........................... 2 1,186 1,188
Income tax benefit ............................................. (5) (256) (261)
Net income from discontinued operations ........................... $ 7 $ 1,442 $ 1,449
2006
Operating revenues ............................................ $ — $ 7,525 $ 7,525
Operating expense, interest and other income, net ......................... 278 9,011 9,289
Pretax loss from discontinued operations ............................. (278) (1,486) (1,764)
Income tax benefit ............................................. (3,291) (1,546) (4,837)
Net income from discontinued operations ........................... $3,013 $ 60 $ 3,073
2005
Operating revenues ............................................ $6,579 $ 63,206 $ 69,785
Operating expense, interest and other income, net ......................... 6,131 68,669 74,800
Pretax income (loss) from discontinued operations ....................... 448 (5,463) (5,015)
Income tax expense (benefit) ...................................... 268 (19,217) (18,949)
Net income from discontinued operations ........................... $ 180 $13,754 $ 13,934
The major classes of assets and liabilities held for sale and related to discontinued operations as of Dec. 31 are as
follows:
2007 2006
(Thousands of Dollars)
Cash ............................................... $ 6,792 $ 25,729
Account receivables, net ................................... 913 421
Deferred income tax benefits ................................ 118,919 144,740
Other current assets ...................................... 2,197 6,150
Current assets held for sale and related to discontinued operations ....... 128,821 177,040
Net property, plant and equipment ............................ — 174
Deferred income tax benefits ................................ 97,284 144,564
Other noncurrent assets ................................... 23,026 2,068
Noncurrent assets held for sale and related to discontinued operations ..... 120,310 146,806
Accounts payable ....................................... 1,060 1,560
Other current liabilities ................................... 16,479 23,918
Current liabilities held for sale and related to discontinued operations ..... 17,539 25,478
Other noncurrent liabilities ................................. 20,384 5,473
Noncurrent liabilities held for sale and related to discontinued operations . . . $ 20,384 $ 5,473
4. Short-Term Borrowings
Commercial Paper — At Dec. 31, 2007 and 2006, Xcel Energy and its utility subsidiaries had commercial paper
outstanding of approximately $1,088.6 million and $626.3 million, respectively. The weighted average interest rates at
Dec. 31, 2007 and 2006 were 5.57 percent and 5.47 percent, respectively.
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