Xcel Energy 2013 Annual Report Download - page 111

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Maturities of long-term debt are as follows:
(Millions of Dollars)
2014. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 281
2015. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 256
2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 656
2017. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 388
2018. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,206
During 2013, Xcel Energy Inc. and its utility subsidiaries completed the following financings:
• In March 2013, PSCo issued $250 million of 2.50 percent first mortgage bonds due March 15, 2023 and $250 million of 3.95
percent first mortgage bonds due March 15, 2043.
• In May 2013, Xcel Energy Inc. issued $450 million of 0.75 percent senior unsecured notes due May 9, 2016.
• In May 2013, NSP-Minnesota issued $400 million of 2.60 percent first mortgage bonds due May 15, 2023.
• In August 2013, SPS issued $100 million of 4.50 percent first mortgage bonds due Aug. 15, 2041. Including the $300 million
of this series previously issued, total principal outstanding for this series is $400 million.
During 2012, Xcel Energy Inc. and its utility subsidiaries completed the following financings:
• In June 2012, SPS issued an additional $100 million of its 4.50 percent first mortgage bonds due Aug. 15, 2041.
• In August 2012, NSP-Minnesota issued $300 million of 2.15 percent first mortgage bonds due Aug. 15, 2022, and $500
million of 3.40 percent first mortgage bonds due Aug. 15, 2042.
• In September 2012, PSCo issued $300 million of 2.25 percent first mortgage bonds due Sept. 15, 2022, and $500 million of
3.60 percent first mortgage bonds due Sept. 15, 2042.
• In October 2012, NSP-Wisconsin issued $100 million of 3.70 percent first mortgage bonds due Oct. 1, 2042.
Issuances of Common Stock — In March 2013, Xcel Energy Inc. filed a prospectus supplement under which it may sell up to $400
million of its common stock through an at-the-market offering program. No shares of common stock have been issued through this
program since April 2013. As of Dec. 31, 2013, Xcel Energy Inc. had issued 7.7 million shares of common stock through this program
and received cash proceeds of $223 million, net of $3 million in fees and commissions. The proceeds from the issuances of common
stock were used to repay short-term debt, infuse equity into the utility subsidiaries and for other general corporate purposes.
Debt Redemption — On May 31, 2013, Xcel Energy Inc. redeemed the entire $400 million principal amount of its 7.60 percent junior
subordinated notes. Upon redemption, Xcel Energy Inc. recognized $6.3 million of related unamortized debt issuance costs as interest
charges.
Deferred Financing Costs — Other assets included deferred financing costs of approximately $83 million and $85 million, net of
amortization, at Dec. 31, 2013 and 2012, respectively. Xcel Energy is amortizing these financing costs over the remaining maturity
periods of the related debt.
Capital Stock — Xcel Energy Inc. has 7,000,000 shares of preferred stock authorized to be issued with a $100 par value. At Dec. 31,
2013 and 2012, there were no shares of preferred stock outstanding.
In 2011, Xcel Energy Inc. redeemed all series of its preferred stock at an aggregate purchase price of $108 million, plus accrued
dividends. The redemption premium of $3.3 million and accrued dividends are reflected as reductions of Xcel Energy’s earnings
available to common shareholders in the consolidated statement of income for 2011.
The charters of PSCo and SPS authorize each subsidiary to issue 10,000,000 shares of preferred stock with par values of $0.01 and
$1.00 per share, respectively. At Dec. 31, 2013 and 2012, there were no preferred shares of subsidiaries outstanding.
Xcel Energy Inc. has 1,000,000,000 shares of common stock authorized to be issued with a $2.50 par value. Outstanding shares at
Dec. 31, 2013 and 2012 were 497,971,508 and 487,959,516, respectively.
Dividend and Other Capital-Related Restrictions — Xcel Energy Inc.’s Articles of Incorporation place restrictions on the amount of
common stock dividends it can pay when preferred stock is outstanding. As there was no preferred stock outstanding at any time
during the year ended Dec. 31, 2013, the restrictions did not place any effective limit on Xcel Energy Inc.’s ability to pay dividends.