Xcel Energy 2014 Annual Report Download - page 166

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The components of regulatory liabilities shown on the consolidated balance sheets at Dec. 31, 2014 and 2013 are:
(Thousands of Dollars) See Note(s) Remaining Amortization Period Dec. 31, 2014 Dec. 31, 2013
Regulatory Liabilities Current Noncurrent Current Noncurrent
Plant removal costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1, 13 Plant lives $ — $ 953,660 $ — $ 906,403
Deferred electric and steam production and natural gas
costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Less than one year 88,527 — 96,574 —
DOE settlement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 One to two years 49,492 — 44,208 1,131
Investment tax credit deferrals . . . . . . . . . . . . . . . . . . . . . 1, 6 Various — 52,666 — 56,535
Deferred income tax adjustment. . . . . . . . . . . . . . . . . . . . 1, 6 Various — 48,622 — 43,581
Conservation programs (b) . . . . . . . . . . . . . . . . . . . . . . . . . 1, 12 Less than one year 103,351 — 19,531 —
Contract valuation adjustments (a). . . . . . . . . . . . . . . . . . . 1, 11 Term of related contract 55,751 2,521 54,455 6,849
Gain from asset sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 One to three years 2,893 4,472 12,859 4,568
Renewable resources and environmental initiatives. . . . . 12, 13 Various 10,427 10,376 2,499 1,412
Low income discount program . . . . . . . . . . . . . . . . . . . . . Less than one year 3,355 — 6,229 —
PSCo earnings test . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 One to two years 57,127 42,819 22,891 19,203
Pipeline inspection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Various 13,970 642 — —
Excess depreciation reserve . . . . . . . . . . . . . . . . . . . . . . . Various 10,999 — — —
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Various 14,837 47,651 15,523 19,713
Total regulatory liabilities . . . . . . . . . . . . . . . . . . . . . . . $ 410,729 $ 1,163,429 $ 274,769 $ 1,059,395
(a) Includes the fair value of certain long-term PPAs used to meet energy capacity requirements and valuation adjustments on natural gas commodity purchases.
(b) Includes costs for conservation programs, as well as incentives allowed in certain jurisdictions.
At Dec. 31, 2014 and 2013, approximately $323 million and $306 million of Xcel Energy’s regulatory assets represented past
expenditures not currently earning a return, respectively. This amount primarily includes PI EPU costs, recoverable purchased natural
gas and electric energy costs and certain expenditures associated with renewable resources and environmental initiatives.
16. Other Comprehensive Income
Changes in accumulated other comprehensive (loss) income, net of tax, for the years ended Dec. 31, 2014 and 2013 were as follows:
Year Ended Dec. 31, 2014
(Thousands of Dollars)
Gains and
Losses on Cash
Flow Hedges
Unrealized
Gains and Losses
on Marketable
Securities
Defined Benefit
Pension and
Postretirement
Items Total
Accumulated other comprehensive (loss) income at Jan. 1 . . . . . . . . . $ (59,753) $ 77 $ (46,599) $ (106,275)
Other comprehensive (loss) income before reclassifications. . . . . . . (163) 33 (7,517) (7,647)
Losses reclassified from net accumulated other comprehensive loss 2,288 — 3,495 5,783
Net current period other comprehensive income (loss) . . . . . . . . . . . . 2,125 33 (4,022) (1,864)
Accumulated other comprehensive (loss) income at Dec. 31 . . . . . . . $ (57,628) $ 110 $ (50,621) $ (108,139)
Year Ended Dec. 31, 2013
(Thousands of Dollars)
Gains and
Losses on Cash
Flow Hedges
Unrealized
Gains and Losses
on Marketable
Securities
Defined Benefit
Pension and
Postretirement
Items Total
Accumulated other comprehensive loss at Jan. 1. . . . . . . . . . . . . . . . . $ (61,241) $ (99) $ (51,313) $ (112,653)
OCI before reclassifications. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 176 1,408 1,596
Losses reclassified from net accumulated other comprehensive loss 1,476 — 3,306 4,782
Net current period OCI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,488 176 4,714 6,378
Accumulated other comprehensive (loss) income at Dec. 31 . . . . . . . $ (59,753) $ 77 $ (46,599) $ (106,275)