Xcel Energy 2012 Annual Report Download - page 79

69
(Millions of Dollars)
2012 2011 2010
Net cash provided by (used in) financing activities ............... $
350 $
(205
) $
906
Net cash provided by financing activities increased by $555 million for 2012 as compared to 2011. The increase was primarily
due to higher proceeds from short-term borrowings and the issuance of long-term debt, partially offset by repayments of
previously existing long-term debt, repurchases of common stock and higher dividend payments.
Net cash used in financing activities increased by $1.1 billion during 2011 as compared to 2010. The increase was primarily due
to lower proceeds from the issuance of long-term debt and common stock in 2011 and the redemption of preferred stock during
2011.
See discussion of trends, commitments and uncertainties with the potential for future impact on cash flow and liquidity under
Capital Sources.
Capital Requirements
Xcel Energy expects to meet future financing requirements by periodically issuing short-term debt, long-term debt, common
stock, hybrid and other securities to maintain desired capitalization ratios.
Capital Expenditures — The current estimated capital expenditure programs of Xcel Energy Inc. and its subsidiaries for the years
2013 through 2017 are shown in the table below. The capital expenditure forecast reflects the termination of the Prairie Island
EPU.
Actual Forecast
(Millions of Dollars) 2012 2013 2014 2015 2016 2017
By Subsidiary
NSP-Minnesota .................................. $ 1,018 $ 1,395 $ 1,135 $ 910 $ 925 $ 1,080
PSCo ............................................ 887 1,075 1,000 850 800 840
SPS ............................................. 389 490 400 305 300 345
NSP-Wisconsin .................................. 155 180 240 245 230 235
WYCO .......................................... 1 15 - - - -
Total capital expenditures ....................... $ 2,450 $ 3,155 $ 2,775 $ 2,310 $ 2,255 $ 2,500
By Function
2012 2013 2014 2015 2016 2017
Electric generation................................ $ 772 $ 1,025 $ 710 $ 550 $ 465 $ 570
Electric transmission.............................. 734 1,010 870 650 635 770
Electric distribution ............................... 486 515 525 525 535 545
Natural gas....................................... 247 355 365 335 325 320
Nuclear fuel...................................... 53 95 155 100 140 145
Other ............................................ 158 155 150 150 155 150
Total capital expenditures ....................... $ 2,450 $ 3,155 $ 2,775 $ 2,310 $ 2,255 $ 2,500
By Project
2012 2013 2014 2015 2016 2017
Other capital expenditures......................... $ 1,720 $ 1,710 $ 1,610 $ 1,555 $ 1,600 $ 1,755
PSCo CACJA .................................... 189 345 235 90 15 -
Other major transmission projects .................. 179 245 260 175 320 415
CapX2020 transmission project .................... 170 350 295 140 - -
Natural gas pipeline replacement................... 100 140 170 190 130 135
Nuclear fuel...................................... 53 95 155 100 140 145
Nuclear capacity increases and life extension ....... 39 270 50 60 50 50
Total capital expenditures ....................... $ 2,450 $ 3,155 $ 2,775 $ 2,310 $ 2,255 $ 2,500
The capital expenditure programs of Xcel Energy are subject to continuing review and modification. Actual utility construction
expenditures may vary from the estimates due to changes in electric and natural gas projected load growth, regulatory decisions,
legislative initiatives, reserve margins, the availability of purchased power, alternative plans for meeting long-term energy needs,
compliance with future environmental requirements, RPS, and merger, acquisition and divestiture opportunities to support
corporate strategies.