
	Three Months Ended June 30, 2025
(Millions of Dollars)	Regulated electric utility		Regulated natural gas utility		Total segments
Operating revenues (a)	$	958	$	260	$	1,218
Intersegment revenues	—		3		3
Total segment revenues	958		263		1,221
Electric fuel and purchased power	309		—		309
Cost of natural gas sold and transported	—		80		80
O&M expenses	165		69		234
Depreciation and amortization	196		72		268
Other segment expenses, net	66		21		87
Interest charges and financing costs	70		20		90
Income tax (benefit) expense	—		(3)		(3)
Net income	$	152	$	4	$	156


	Three Months Ended June 30, 2024
(Millions of Dollars)	Regulated electric utility		Regulated natural gas utility		Total segments
Operating revenues (a)	$	891	$	244	$	1,135


Electric fuel and purchased power	303		—		303
Cost of natural gas sold and transported	—		89		89
O&M expenses	170		66		236
Depreciation and amortization	186		60		246
Other segment expenses, net	53		18		71
Interest charges and financing costs	69		20		89
Income tax benefit	(10)		(4)		(14)
Net income	$	120	$	(5)	$	115

Total segment net income					$	115
Non-segment net income					4
Consolidated net income					$	119


	Six Months Ended June 30, 2025
(Millions of Dollars)	Regulated electric utility		Regulated natural gas utility		Total segments
Operating revenues (a)	$	1,896	$	887	$	2,783
Intersegment revenues	—		5		5
Total segment revenues	1,896		892		2,788
Electric fuel and purchased power	629		—		629
Cost of natural gas sold and transported	—		344		344
O&M expenses	330		142		472
Depreciation and amortization	396		143		539
Other segment expenses, net	136		56		192
Interest charges and financing costs	140		40		180
Income tax (benefit) expense	(8)		34		26
Net income	$	273	$	133	$	406

Total segment net income					$	406
Non-segment net income					8
Consolidated net income					$	414

(a)Operating revenues include $3 million of other affiliate revenue.


	Six Months Ended June 30, 2024
(Millions of Dollars)	Regulated electric utility		Regulated natural gas utility		Total segments
Operating revenues (a)	$	1,814	$	857	$	2,671


Electric fuel and purchased power	644		—		644
Cost of natural gas sold and transported	—		408		408
O&M expenses	326		140		466
Depreciation and amortization	369		119		488
Other segment expenses, net	120		42		162
Interest charges and financing costs	132		38		170
Income tax (benefit) expense	(19)		22		3
Net income	$	242	$	88	$	330

Total segment net income					$	330
Non-segment net income					8
Consolidated net income					$	338

(a)Operating revenues include $2 million of other affiliate revenue.

Asset and capital expenditure information is not provided for PSCo’s reportable segments because, as an integrated electric and natural gas utility, PSCo operates significant assets that are not dedicated to a specific business segment and 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.