Xcel Energy 2010 Annual Report Download - page 132
Download and view the complete annual report
Please find page 132 of the 2010 Xcel Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
 |
 |
122
Dec. 31, 2009
Fair Value
(Thousands of Dollars) Level 1 Level 2 Level 3 Fair Value
Total Counterparty
Netting (c) Total
Other recurring fair value assets
N
uclear decommissioning fund (a)
Cash equivalents .................
.
$
—
$ 28,134 $
—
$ 28,134 $
—
$ 28,134
Debt securities:
Government securities ..........
.
—
74,126
—
74,126
—
74,126
U.S. corporate bonds ...........
.
—
312,844
—
312,844
—
312,844
Foreign securities ..............
.
—
9,445
—
9,445
—
9,445
Municipal bonds ...............
.
—
149,088
—
149,088
—
149,088
Asset-backed securities .........
.
—
—
11,918 11,918
—
11,918
Mortgage-backed securities .....
.
—
—
81,189 81,189
—
81,189
Equity securities:
Common stock .................
.
581,995
—
—
581,995
—
581,995
Total ..........................
.
$ 581,995 $ 573,637 $ 93,107 $1,248,739 $
—
$ 1,248,739
Current derivative liabilities
Derivatives designated as cash flow
hedges:
Vehicle fuel and other commodity .
.
$
—
$3,243 $
—
$ 3,243 $
—
$3,243
Other derivative instruments:
Trading commodity ..............
.
—
17,803 4,566 22,369 (18,093) 4,276
Electric commodity ..............
.
—
—
3,276 3,276 1,425 4,701
Natural gas commodity ...........
.
—
6,749
—
6,749 165 6,914
Other commodity ................
.
—
—
360 360
—
360
Total current derivative
liabilities ....................
.
$
—
$ 27,795 $ 8,202 $ 35,997 $ (16,503) 19,494
Purchased power agreements (b) .....
.
27,060
Current derivative instruments ....
.
$ 46,554
Noncurrent derivative liabilities
Other derivative instruments:
Trading commodity ..............
.
$
—
$ 5,384 $ 7,682 $ 13,066 $ (3,521) $ 9,545
Natural gas commodity ...........
.
—
662
—
662 254 916
Total noncurrent derivative
liabilities ....................
.
$
—
$ 6,046 $ 7,682 $ 13,728 $ (3,267) 10,461
Purchased power agreements (b) .....
.
297,309
Noncurrent derivative instruments .
.
$307,770
(a) Reported in nuclear decommissioning fund and other investments on the consolidated balance sheet, which also includes $104.5 million of equity
investments in unconsolidated subsidiaries and $28.6 million of miscellaneous investments.
(b) In 2003, as a result of implementing new guidance on the normal purchase exception for derivative accounting, Xcel Energy began recording several long-
term purchased power agreements at fair value due to accounting requirements related to underlying price adjustments. As these purchases are recovered
through normal regulatory recovery mechanisms in the respective jurisdictions, the changes in fair value for these contracts were offset by regulatory assets
and liabilities. During 2006, Xcel Energy qualified these contracts under the normal purchase exception. Based on this qualification, the contracts are no
longer adjusted to fair value and the previous carrying value of these contracts will be amortized over the remaining contract lives along with the offsetting
regulatory assets and liabilities.
(c) The accounting guidance for derivatives and hedging permits the netting of receivables and payables for derivatives and related collateral amounts when a
legally enforceable master netting agreement exists between Xcel Energy and a counterparty. A master netting agreement is an agreement between two
parties who have multiple contracts with each other that provides for the net settlement of all contracts in the event of default on or termination of any one
contract.