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Xcel Energy Inc – ‘10-K’ for 12/31/09 – ‘XML.R17’

On:  Friday, 2/26/10, at 4:23pm ET   ·   For:  12/31/09   ·   Accession #:  1047469-10-1536   ·   File #:  1-03034

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/26/10  Xcel Energy Inc                   10-K       12/31/09   53:8.9M                                   Toppan Merrill-FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.22M 
 2: EX-10.24    Material Contract                                   HTML     22K 
 4: EX-21.01    Subsidiaries List                                   HTML     27K 
 5: EX-23.01    Consent of Experts or Counsel                       HTML     24K 
 6: EX-24.01    Power of Attorney                                   HTML     39K 
10: EX-99.01    Miscellaneous Exhibit                               HTML     23K 
 3: EX-12.01    Statement re: Computation of Ratios                 HTML     42K 
 7: EX-31.01    Certification -- §302 - SOA'02                      HTML     24K 
 8: EX-31.02    Certification -- §302 - SOA'02                      HTML     24K 
 9: EX-32.01    Certification -- §906 - SOA'02                      HTML     20K 
42: XML         IDEA XML File -- Definitions and References          XML    126K 
49: XML         IDEA XML File -- Filing Summary                      XML    158K 
47: XML.R1      Consolidated Statements of Income                    XML    362K 
48: XML.R2      Consolidated Statements of Income (Parenthetical)    XML     49K 
28: XML.R3      Consolidated Statements of Cash Flows                XML    504K 
33: XML.R4      Consolidated Balance Sheets                          XML    323K 
40: XML.R5      Consolidated Statements of Common Stockholders'      XML    531K 
                Equity and Comprehensive Income                                  
39: XML.R6      Consolidated Statements of Common Stockholders'      XML     73K 
                Equity and Comprehensive Income (Parenthetical)                  
52: XML.R7      Consolidated Statements of Capitalization,           XML   2.19M 
                Long-Term Debt                                                   
22: XML.R8      Consolidated Statements of Capitalization, Equity    XML    288K 
38: XML.R9      Consolidated Statements of Capitalization, Equity    XML     72K 
                (Parenthetical)                                                  
20: XML.R10     Summary of Significant Accounting Policies           XML     73K 
19: XML.R11     Accounting Pronouncements                            XML     45K 
27: XML.R12     Selected Balance Sheet Data                          XML     59K 
44: XML.R13     Discontinued Operations                              XML     50K 
29: XML.R14     Short-Term Borrowings and Other Financing            XML     35K 
                Instruments                                                      
30: XML.R15     Long-Term Borrowings and Other Financing             XML     73K 
                Instruments                                                      
36: XML.R16     Generating Plant Ownership and Operation             XML     69K 
53: XML.R17     Income Taxes                                         XML    142K 
25: XML.R18     Preferred and Common Stock                           XML     91K 
17: XML.R19     Share-Based Compensation                             XML    139K 
32: XML.R20     Benefit Plans and Other Postretirement Benefits      XML    270K 
43: XML.R21     Other Income, Net                                    XML     43K 
23: XML.R22     Derivative Instruments                               XML    152K 
41: XML.R23     Financial Instruments                                XML     65K 
31: XML.R24     Fair Value Measurements                              XML    110K 
51: XML.R25     Rate Matters                                         XML    106K 
46: XML.R26     Commitments and Contingent Liabilities               XML    218K 
34: XML.R27     Nuclear Obligations                                  XML     64K 
37: XML.R28     Regulatory Assets and Liabilities                    XML     87K 
18: XML.R29     Segments and Related Information                     XML     93K 
21: XML.R30     Summarized Quarterly Financial Data (Unaudited)      XML     65K 
24: XML.R31     Lubbock Electric Distribution Assets                 XML     34K 
26: XML.R32     Condensed Financial Statements of Xcel Energy Inc.   XML    124K 
35: XML.R33     Valuation and Qualifying Accounts                    XML     44K 
45: XML.R34     Document and Entity Information                      XML    129K 
50: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    220K 
11: EX-101.INS  XBRL Instance -- xel-20091231                        XML   2.29M 
13: EX-101.CAL  XBRL Calculations -- xel-20091231_cal                XML    205K 
14: EX-101.DEF  XBRL Definitions -- xel-20091231_def                 XML    194K 
15: EX-101.LAB  XBRL Labels -- xel-20091231_lab                      XML   1.03M 
16: EX-101.PRE  XBRL Presentations -- xel-20091231_pre               XML    524K 
12: EX-101.SCH  XBRL Schema -- xel-20091231                          XSD    115K

‘XML.R17’   —   Income Taxes

This Financial Report is an XBRL XML File.

                                                                                                                                                                                
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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="FONT-FAMILY: times"><font size="4"><b>8.    Income Taxes </b></font></p> <p style="FONT-FAMILY: times"><font size="2"><b><i>COLI</i></b></font><font size="2"><b> — </b></font><font size="2">In 2007, Xcel Energy and the U. S. government settled an ongoing dispute regarding PSCo's right to deduct interest expense on policy loans related to its COLI program that insured lives of certain PSCo employees. These COLI policies were owned and managed by PSRI, a wholly owned subsidiary of PSCo. The total exposure for the tax years in dispute through 2007 was approximately $583 million, which includes income tax, interest and potential penalties. As a result of the settlement, the lawsuit filed by Xcel Energy in the United States District Court has been dismissed and the Tax Court proceedings are in the process of being dismissed. Xcel Energy anticipates these proceedings to be dismissed in 2010.</font></p> <p style="FONT-FAMILY: times"><font size="2"><b>Terms of the Final Settlement</b></font></p> <dl compact="compact"> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"><font size="2">1.</font></dt> <dd style="FONT-FAMILY: times"><font size="2">Xcel Energy paid the government a total of $64.4 million in full settlement of the government's claims for tax, penalty, and interest for tax years 1993-2007. <br /> <br /></font></dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"><font size="2">2.</font></dt> <dd style="FONT-FAMILY: times"><font size="2">The recognition of this settlement resulted in total expense of $59.5 million, including federal and state tax, interest on the federal and state tax liabilities, penalties, and tax benefits on the interest expense for the nine months ended Sept. 30, 2007. The expense of $59.5 million includes $43.4 million of interest and penalties and income tax of $16.1 million (net of tax benefit on the interest expense of $14.3 million). <br /> <br /></font></dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"><font size="2">3.</font></dt> <dd style="FONT-FAMILY: times"><font size="2">Xcel Energy surrendered the policies to its insurer on Oct. 31, 2007, without recognizing a taxable gain </font></dd></dl> <p style="FONT-FAMILY: times"><font size="2"><b><i>Federal Audit</i></b></font><font size="2"><b> — </b></font><font size="2">Xcel Energy files a consolidated federal income tax return. In 2008, the IRS completed an examination of Xcel Energy's federal income tax returns for 2004 and 2005 (and research credits for 2003). The IRS did not propose any material adjustments for those tax years. The statute of limitations applicable to Xcel Energy's 2004 and 2005 federal income tax returns expired on Dec. 31, 2009. The IRS commenced an examination of tax years 2006 and 2007 in 2008, and this audit is expected to be completed in the first quarter of 2010. As of Dec. 31, 2009, the IRS had not proposed any material adjustments to tax years 2006 and 2007. </font></p> <p style="FONT-FAMILY: times"><font size="2"><b><i>State Audits</i></b></font><font size="2"><b> — </b></font><font size="2">Xcel Energy files consolidated state tax returns based on income in its major operating jurisdictions of Colorado, Minnesota, Texas, and Wisconsin, and various other state income-based tax returns. In 2008, the state of Minnesota concluded an income tax audit through tax year 2001 and the state of Texas concluded an income tax audit through tax year 2005. No material adjustments were proposed for these state audits. As of Dec. 31, 2009, Xcel Energy's earliest open tax years that are subject to examination by state taxing authorities in its major operating jurisdictions are as follows: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="center" width="65"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" nowrap="nowrap" align="left"> <div style="MARGIN-BOTTOM: 0pt; WIDTH: 15pt; BORDER-BOTTOM: #000000 1pt solid"><font size="1"><b>State <!-- COMMAND=ADD_SCROPPEDRULE,15pt --></b></font></div></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center"><font size="1"><b>Year </b></font></th></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Colorado</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="center"><font size="2">2004</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Minnesota</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="center"><font size="2">2004</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Texas</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="center"><font size="2">2005</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Wisconsin</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="center"><font size="2">2005</font></td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">The state of Texas has notified Xcel Energy of its intent to audit tax years 2006 and 2007. As of Dec. 31, 2009, the Texas audit had not been scheduled. There currently are no other state income tax audits in progress. In 2009, Xcel Energy received a request for information from the state of Minnesota relating to tax years 2002 through 2007 in order to determine whether to undertake an audit of those years. As of Dec. 31, 2009, the state of Minnesota had not informed Xcel Energy of its intentions. </font></p> <p style="FONT-FAMILY: times"><font size="2"><b><i>Unrecognized Tax Benefits</i></b></font><font size="2"><b> — </b></font><font size="2">The amount of unrecognized tax benefits reported in continuing operations was $23.7 million on Dec. 31, 2009 and $35.5 million on Dec. 31, 2008. The amount of unrecognized tax benefits reported in discontinued operations was $6.6 million on both Dec. 31, 2009 and Dec. 31, 2008. A reconciliation of the beginning and ending amount of unrecognized tax benefit in continuing operations is as follows: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left"><font size="2"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2009 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2008 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left"><font size="1"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="FONT-FAMILY: times" align="center" colspan="5"><font size="1"><b>(Millions of Dollars)</b></font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Balance at Jan. 1</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">35.5</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">26.3</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Additions based on tax positions related to the current year</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">12.6</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">9.7</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Reductions based on tax positions related to the current year</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(1.8</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(1.0</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Additions for tax positions of prior years</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">6.8</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">7.6</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Reductions for tax positions of prior years</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(2.3</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(0.3</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Settlements with taxing authorities</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(27.1</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(4.0</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Lapse of applicable statutes of limitations</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">—</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(2.8</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Balance at Dec. 31</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">23.7</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">35.5</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">The unrecognized tax benefit amounts reported in continuing operations were reduced by the tax benefits associated with NOL and tax credit carryovers of $8.9 million on Dec. 31, 2009 and $13.1 million on Dec. 31, 2008. The unrecognized tax benefit amounts reported in discontinued operations were reduced by the tax benefits associated with NOL and tax credit carryovers of $20.4 million on Dec. 31, 2009 and $26.5 million on Dec. 31, 2008. </font></p> <p style="FONT-FAMILY: times"><font size="2">The unrecognized tax benefit balance reported in continuing operations included $4.0 million and $9.2 million of tax positions on Dec. 31, 2009 and Dec. 31, 2008, respectively, which if recognized would affect the annual ETR. In addition, the unrecognized tax benefit balance reported in continuing operations included $19.7 million and $26.3 million of tax positions on Dec. 31, 2009 and Dec. 31, 2008, respectively, for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. A change in the period of deductibility would not affect the ETR but would accelerate the payment of cash to the taxing authority to an earlier period. </font></p> <p style="FONT-FAMILY: times"><font size="2">The decrease in the unrecognized tax benefit balance reported in continuing operations of $11.8 million in 2009 was due to the resolution of certain federal audit matters, partially offset by an increase due to the addition of similar uncertain tax positions related to ongoing activity. Xcel Energy's amount of unrecognized tax benefits for continuing operations could significantly change in the next 12 months as the Texas audit begins and when the IRS and other state audits resume. At this time, due to the uncertain nature of the audit process, it is not reasonably possible to estimate an overall range of possible change. </font></p> <p style="FONT-FAMILY: times"><font size="2">The payable for interest related to unrecognized tax benefits is partially offset by the interest benefit associated with NOL and tax credit carryovers. A reconciliation of the beginning and ending amount of the payable for interest related to unrecognized tax benefits reported in continuing operations is as follows: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left"><font size="2"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2009 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2008 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left"><font size="1"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="FONT-FAMILY: times" align="center" colspan="5"><font size="1"><b>(Millions of Dollars)</b></font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Payable for interest related to unrecognized tax benefits at Jan. 1</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(1.9</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(5.8</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Interest income related to unrecognized tax benefits</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">1.5</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">3.9</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Payable for interest related to unrecognized tax benefits at Dec. 31</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(0.4</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(1.9</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">A reconciliation of the beginning and ending amount of the receivable for interest related to unrecognized tax benefits reported in discontinued operations is as follows: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left"><font size="2"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2009 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2008 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left"><font size="1"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="FONT-FAMILY: times" align="center" colspan="5"><font size="1"><b>(Millions of Dollars)</b></font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Receivable for interest related to unrecognized tax benefits at Jan. 1</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">1.5</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">0.5</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Interest income (expense) related to unrecognized tax benefits</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(1.3</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">1.0</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Receivable for interest related to unrecognized tax benefits at Dec. 31</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">0.2</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">1.5</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">No amounts were accrued for penalties related to unrecognized tax benefits as of Dec. 31, 2009 or Dec. 31, 2008. </font></p> <p style="FONT-FAMILY: times"><font size="2"><b><i>Other Income Tax Matters</i></b></font><font size="2"><b> — </b></font><font size="2">NOL and tax credit carryforwards as of Dec. 31, 2009 and 2008 were as follows:</font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left" width="9"></td> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan="2"><font size="2"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2009 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2008 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan="2"><font size="1"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="FONT-FAMILY: times" align="center" colspan="5"><font size="1"><b>(Millions of Dollars)</b></font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Federal NOL carryforward</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">523</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">127</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Federal tax credit carryforwards</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">183</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">223</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">State NOL carryforwards</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">1,244</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">1,097</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Valuation allowances for state NOL carryforwards</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(76</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(37</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">State tax credit carryforwards, net of federal detriment</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">19</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">17</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Valuation allowances for state tax credit carryforwards, net of federal benefit</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(5</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">—</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-TOP: 11pt; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Portions of the above NOL and tax credit carryforwards are included in</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Federal NOL carryforward</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">229</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">49</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Federal tax credit carryforwards</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">70</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">126</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">State NOL carryforwards</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">1,052</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">980</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Valuation allowances for state NOL carryforwards</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(58</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(34</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">State tax credit carryforwards, net of federal detriment</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">2</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">2</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">The federal carryforward periods expire between 2021 and 2029. The state carryforward periods expire between 2010 and 2029. </font></p> <p style="FONT-FAMILY: times"><font size="2">Total income tax expense from continuing operations differs from the amount computed by applying the statutory federal income tax rate to income before income tax expense. The following reconciles such differences for the years ending Dec. 31: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left" width="9"></td> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan="2"><font size="2"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="2"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2009 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2008 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2007 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Federal statutory rate</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">35.0</font></td> <td style="FONT-FAMILY: times"><font size="2">%</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">35.0</font></td> <td style="FONT-FAMILY: times"><font size="2">%</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">35.0</font></td> <td style="FONT-FAMILY: times"><font size="2">%</font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Increases (decreases) in tax from:</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">State income taxes, net of federal income tax benefit</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">4.0</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">4.4</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">4.5</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Tax credits recognized, net of federal income tax expense</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(2.0</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(1.8</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(2.5</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Regulatory differences — utility plant items</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(2.0</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(2.1</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(1.1</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Resolution of income tax audits and other</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">0.8</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">—</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(0.7</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Change in unrecognized tax benefits</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(0.5</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(0.1</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">3.1</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Life insurance policies</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(0.2</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(0.2</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(3.7</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Other, net</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">—</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(0.8</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">(0.8</font></td> <td style="FONT-FAMILY: times"><font size="2">)</font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"> <td style="FONT-FAMILY: times" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Effective income tax rate from continuing operations</font></p></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">35.1</font></td> <td style="FONT-FAMILY: times"><font size="2">%</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">34.4</font></td> <td style="FONT-FAMILY: times"><font size="2">%</font></td> <td style="FONT-FAMILY: times"><font size="2"> </font></td> <td style="FONT-FAMILY: times" align="right"><font size="2">33.8</font></td> <td style="FONT-FAMILY: times"><font size="2">%</font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">The components of Xcel Energy's income tax expense from continuing operations for the years ending Dec. 31 were: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left"><font size="2"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2009 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2008 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2007 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left"><font size="1"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="FONT-FAMILY: times" align="center" colspan="8"><font size="1"><b>(Thousands of Dollars)</b></font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Current federal tax expense (benefit)</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(39,886</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">56,044</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">10,649</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Current state tax expense</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">8,672</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">26,904</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">6,726</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Current change in unrecognized tax expense (benefit)</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(7,627</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">3,891</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">20,512</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Deferred federal tax expense</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">360,252</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">236,307</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">225,971</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Deferred state tax expense</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">69,947</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">38,758</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">47,555</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Deferred change in unrecognized tax expense (benefit)</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">2,387</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(4,535</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">6,926</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Deferred tax credits</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(16,005</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(11,485</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(15,175</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Deferred investment tax credits</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(6,426</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(7,198</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">(8,680</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2">)</font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Total income tax expense from continuing operations</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">371,314</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">338,686</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">294,484</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2">The components of Xcel Energy's net deferred tax liability from continuing operations (current and noncurrent) at Dec. 31 were as follows: </font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left" width="9"></td> <td style="FONT-FAMILY: times" align="left" width="9"></td> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan="3"><font size="2"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2009 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2008 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan="3"><font size="1"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="FONT-FAMILY: times" align="center" colspan="5"><font size="1"><b>(Thousands of Dollars)</b></font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom" colspan="3"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Deferred tax liabilities:</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Differences between book and tax bases of property</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">3,224,853</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">2,770,768</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Regulatory assets</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">232,898</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">188,603</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Employee benefits</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">109,375</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">40,708</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Deferred fuel costs</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">45,868</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">49,195</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Partnership income/loss</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">44,325</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">7,934</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Other</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">31,592</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">40,161</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom" colspan="3"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Total deferred tax liabilities</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">3,688,911</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">3,097,369</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom" colspan="3"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div> <p style="FONT-FAMILY: times"><font size="2"> <br /></font></p> <div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 20%; WIDTH: 60%; PADDING-TOP: 0pt; POSITION: relative"> <p style="FONT-FAMILY: times"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p> <!-- User-specified TAGGED TABLE --> <div align="center"> <table cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET --> <td style="FONT-FAMILY: times" align="left" width="9"></td> <td style="FONT-FAMILY: times" align="left" width="9"></td> <td style="FONT-FAMILY: times" align="left"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td> <td style="FONT-FAMILY: times" align="right" width="6"></td> <td style="FONT-FAMILY: times" width="65"></td> <td style="FONT-FAMILY: times" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan="3"><font size="2"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2009 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align="center" colspan="2"><font size="1"><b>2008 </b></font></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="bottom"> <th style="FONT-FAMILY: times" align="left" colspan="3"><font size="1"> </font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th> <th style="FONT-FAMILY: times" align="center" colspan="5"><font size="1"><b>(Thousands of Dollars)</b></font><br /></th> <th style="FONT-FAMILY: times"><font size="1"> </font></th></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom" colspan="3"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Deferred tax assets:</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">NOL carryforward</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">126,114</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">46,297</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Tax credit carryforward</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">124,503</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">112,952</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Unbilled revenue — fuel costs</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">62,056</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">83,128</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Regulatory liabilities</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">48,437</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">39,946</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Rate refund</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">40,956</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">40,347</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Environmental remediation</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">40,874</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">28,443</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Deferred investment tax credits</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">39,968</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">41,460</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Other comprehensive income</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">34,779</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">37,032</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Bad debts</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">21,983</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">25,136</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" colspan="2"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Accrued liabilities and other</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">16,239</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">1,644</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom" colspan="3"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="white"> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times"><font size="0"> </font></td> <td style="FONT-FAMILY: times" valign="bottom"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Total deferred tax assets</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">555,909</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">456,385</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom" colspan="3"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr> <tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"> <td style="FONT-FAMILY: times" valign="bottom" colspan="3"> <p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: times"><font size="2">Net deferred tax liability</font></p></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">3,133,002</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">$</font></td> <td style="FONT-FAMILY: times" valign="bottom" align="right"><font size="2">2,640,984</font></td> <td style="FONT-FAMILY: times" valign="bottom"><font size="2"> </font></td></tr> <tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"> <td style="FONT-FAMILY: times" valign="bottom" colspan="3"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td> <td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" valign="bottom" align="right" colspan="2"> </td> <td style="FONT-FAMILY: times" valign="bottom"> </td></tr></table></div> <!-- end of user-specified TAGGED TABLE --></div></td></tr></table>
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<NonNumericTextHeader> 8.    Income Taxes COLI — In 2007, Xcel Energy and the U. S. government settled an ongoing dispute regarding PSCo's </NonNumericTextHeader>
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2 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/20/10  SEC                               UPLOAD9/12/17    1:45K  Xcel Energy Inc.
 8/05/10  SEC                               UPLOAD9/12/17    1:71K  Xcel Energy Inc.
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