Xcel Energy 2008 Annual Report Download - page 106

3. Selected Balance Sheet Data
Dec. 31, 2008 Dec. 31, 2007
(Thousands of Dollars)
Accounts receivable, net:
Accounts receivable ................................... $ 965,020 $ 1,000,981
Less allowance for bad debts ............................. (64,239) (49,401)
$ 900,781 $ 951,580
Inventories:
Materials and supplies ................................. $ 158,709 $ 152,770
Fuel ............................................ 227,462 142,764
Natural gas ........................................ 280,538 236,076
$ 666,709 $ 531,610
Property, plant and equipment, net:
Electric plant ........................................ $21,601,094 $ 20,313,313
Natural gas plant ...................................... 3,004,088 2,946,455
Common and other property .............................. 1,497,162 1,475,325
Construction work in progress ............................. 1,832,022 1,810,664
Total property, plant and equipment ....................... 27,934,366 26,545,757
Less accumulated depreciation .............................. (10,501,266) (10,049,927)
Nuclear fuel ......................................... 1,611,193 1,471,229
Less accumulated amortization ............................. (1,355,573) (1,291,370)
$ 17,688,720 $ 16,675,689
4. Discontinued Operations
Xcel Energy classified and accounted for certain assets as held for sale at Dec. 31, 2008 and 2007. Assets held for sale
are valued on an asset-by-asset basis at the lower of carrying amount or fair value less costs to sell. In applying those
provisions, management considered cash flow analyses, bids and offers related to those assets and businesses. Assets held
for sale are not depreciated.
Results of operations for divested businesses and the results of businesses held for sale are reported, for all periods
presented, as discontinued operations. In addition, the assets and liabilities of the businesses divested and held for sale
in 2008 and 2007 have been reclassified to assets and liabilities held for sale in the consolidated balance sheets. The
majority of current and noncurrent assets related to discontinued operations are deferred tax assets associated with
temporary differences and NOL and tax credit carryforwards that will be deductible in future years.
The major classes of assets and liabilities held for sale and related to discontinued operations as of Dec. 31 are as
follows:
2008 2007
(Thousands of Dollars)
Cash ............................................... $10,645 $ 6,792
Account receivables, net ................................... 209 913
Deferred income tax benefits ................................ 39,422 118,919
Other current assets ...................................... 6,365 2,197
Current assets held for sale and related to discontinued operations ....... 56,641 128,821
Deferred income tax benefits ................................ 150,912 97,284
Other noncurrent assets ................................... 30,544 23,026
Noncurrent assets held for sale and related to discontinued operations ..... 181,456 120,310
Accounts payable ....................................... 760 1,060
Other current liabilities ................................... 6,169 16,479
Current liabilities held for sale and related to discontinued operations ..... 6,929 17,539
Other noncurrent liabilities ................................. 20,656 20,384
Noncurrent liabilities held for sale and related to discontinued operations . . . $ 20,656 $ 20,384
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