Xcel Energy 2013 Annual Report Download - page 91

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Registration Statements — Xcel Energy Inc.’s Articles of Incorporation authorize the issuance of one billion shares of $2.50 par value
common stock. As of Dec. 31, 2013 and 2012, Xcel Energy Inc. had approximately 498 million shares and 488 million shares of
common stock outstanding, respectively. In addition, Xcel Energy Inc.’s Articles of Incorporation authorize the issuance of seven
million shares of $100 par value preferred stock. Xcel Energy Inc. had no shares of preferred stock outstanding on Dec. 31, 2013 and
2012. Xcel Energy Inc. and its subsidiaries have the following registration statements on file with the SEC, pursuant to which they
may sell, from time to time, securities:
• Xcel Energy Inc. has an effective automatic shelf registration statement filed in August 2012, which does not contain a limit
on issuance capacity. However, Xcel Energy Inc.’s ability to issue securities is limited by authority granted by the Board of
Directors, which currently authorizes the issuance of up to an additional $900 million of debt and common equity securities.
• NSP-Minnesota has an automatic shelf registration statement filed in December 2013, which does not contain a limit on
issuance capacity. However, NSP-Minnesota’s ability to issue securities is limited by authority granted by its Board of
Directors, which currently authorizes the issuance of up to an additional $600 million of debt securities.
• NSP-Wisconsin has $200 million of debt securities remaining under its currently effective shelf registration statement, which
was filed in December 2013.
• PSCo has an automatic shelf registration statement filed in October 2013, which does not contain a limit on issuance capacity.
However, PSCo’s ability to issue securities is limited by authority granted by its Board of Directors, which currently
authorizes the issuance of up to an additional $1.0 billion of debt securities.
• SPS has $300 million of debt securities remaining under its currently effective shelf registration statement, which was filed in
April 2013.
Long-Term Borrowings and Other Financing Instruments — See the consolidated statements of capitalization and a discussion of
the long-term borrowings in Note 4 to the consolidated financial statements.
During 2013, Xcel Energy Inc. and its utility subsidiaries completed the following financings:
• 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. PSCo used a portion of the net proceeds from the sale of the first mortgage bonds to
repay short-term borrowings incurred to fund daily operational needs;
• Xcel Energy Inc. issued $450 million of 0.75 percent senior unsecured notes due May 9, 2016. Xcel Energy Inc. used a
portion of the proceeds from the sale of the notes to repay short-term borrowings and for other general corporate purposes;
• NSP-Minnesota issued $400 million of 2.60 percent first mortgage bonds due May 15, 2023. NSP-Minnesota used a portion
of the net proceeds from the sale of the first mortgage bonds to repay short-term borrowings and for other general corporate
purposes; and
• SPS issued $100 million of 4.50 percent first mortgage bonds due Aug. 15, 2041. SPS used a portion of the net proceeds
from the sale of the first mortgage bonds to repay short-term borrowings incurred to fund daily operational needs. Including
the $300 million of this series previously issued in August 2011 and June 2012, total principal outstanding for this series is
$400 million.
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. sold 7.7 million shares of common stock with net proceeds of $223 million.
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.
Financing Plans — Xcel Energy issues debt and equity securities to refinance retiring maturities, reduce short-term debt, fund
construction programs, infuse equity in subsidiaries, fund asset acquisitions and for other general corporate purposes.
During the first half of 2014, Xcel Energy Inc. and its utility subsidiaries anticipate issuing the following:
• PSCo may issue approximately $300 million of first mortgage bonds;
• NSP-Minnesota may issue approximately $300 million of first mortgage bonds;
• SPS may issue approximately $150 million of first mortgage bonds; and
• NSP-Wisconsin may issue approximately $100 million of first mortgage bonds.
Financing plans are subject to change, depending on capital expenditures, internal cash generation, market conditions and other
factors.