v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information
Segment information and reconciliation to NSP-Minnesota’s consolidated net income:
Three Months Ended June 30, 2025
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$1,336 $110 $1,446 
Intersegment revenue— 4 4 
Total segment revenues1,336 114 1,450 
Electric fuel and purchased power465 — 465 
Cost of natural gas sold and transported— 45 45 
O&M expenses313 28 341 
Depreciation and amortization264 21 285 
Other segment expenses, net65 14 79 
Interest charges and financing costs83 10 93 
Income tax benefit(40)(2)(42)
Net income (loss)$186 $(2)$184 
Total segment net income$184 
Non-segment net income5 
Consolidated net income$189 
(a)Regulated electric results include $120 million of affiliate revenues. Regulated natural gas results include an immaterial amount of affiliate revenues.
Three Months Ended June 30, 2024
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$1,237 $90 $1,327 
Electric fuel and purchased power464 — 464 
Cost of natural gas sold and transported— 23 23 
O&M expenses300 28 328 
Depreciation and amortization251 19 270 
Other segment expenses, net74 8 82 
Interest charges and financing costs77 8 85 
Income tax benefit(51)— (51)
Net income$122 $4 $126 
Total segment net income$126 
Non-segment net income5 
Consolidated net income$131 
(a)Regulated electric results include $120 million of affiliate revenues. Regulated natural gas results include an immaterial amount of affiliate revenues.
    
Six Months Ended June 30, 2025
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$2,630 $470 $3,100 
Intersegment revenue— 6 6 
Total segment revenues2,630 476 3,106 
Electric fuel and purchased power960 — 960 
Cost of natural gas sold and transported— 261 261 
O&M expenses634 53 687 
Depreciation and amortization535 43 578 
Other segment expenses, net135 39 174 
Interest charges and financing costs163 16 179 
Income tax (benefit) expense(114)16 (98)
Net income$317 $48 $365 
Total segment net income$365 
Non-segment net income8 
Consolidated net income$373 
(a)Regulated electric results include $242 million of affiliate revenues. Regulated natural gas results include an immaterial amount of affiliate revenues.
Six Months Ended June 30, 2024
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$2,492 $363 $2,855 
Intersegment revenue— 1 1 
Total segment revenues2,492 364 2,856 
Electric fuel and purchased power923 — 923 
Cost of natural gas sold and transported— 162 162 
O&M expenses585 52 637 
Depreciation and amortization500 38 538 
Other segment expenses, net164 23 187 
Interest charges and financing costs153 15 168 
Income tax (benefit) expense(100)19 (81)
Net income$267 $55 $322 
Total segment net income$322 
Non-segment net income20 
Consolidated net income$342 
(a)Regulated electric results include $242 million of affiliate revenues. Regulated natural gas results include an immaterial amount of affiliate revenues.
Asset and capital expenditure information is not provided for NSP-Minnesota’s reportable segments. As an integrated electric and natural gas utility, NSP-Minnesota operates significant assets that are not dedicated to a specific business segment.
Reporting assets and capital expenditures by business segment would require arbitrary and potentially misleading allocations, which may not necessarily reflect the assets that would be required for the operation of the business segments on a stand-alone basis.
Certain costs, such as common depreciation, common O&M expenses and interest expense are allocated based on cost causation allocators across each segment. In addition, a general allocator is used for certain general and administrative expenses, including office supplies, rent, property insurance and general advertising.
Other segment expenses, net, for the reportable segments includes conservation and DSM expenses, taxes (other than income taxes), other income, net, intersegment expenses and AFUDC - equity.