Benefit Plans and Other Postretirement Benefits (Tables)

6 Months Ended

Jun. 30, 2026

Components of Net Periodic Benefit Cost (Credit)



	Three Months Ended June 30
	2026		2025		2026		2025
(Millions of Dollars)	Pension Benefits				Postretirement Health Care Benefits
Service cost	$	20	$	19	$	1	$	—
Interest cost (a)	39		39		6		6
Expected return on plan assets (a)	(50)		(52)		(5)		(5)
Amortization of prior service credit (a)	(1)		—		—		—
Amortization of net loss (a)	11		7		1		1

Net periodic benefit cost	19		13		3		2
Effects of regulation	—		2		—		—
Net benefit cost recognized for financial reporting	$	19	$	15	$	3	$	2



	Six Months Ended June 30
	2026		2025		2026		2025
(Millions of Dollars)	Pension Benefits				Postretirement Health Care Benefits
Service cost	$	40	$	38	$	1	$	—
Interest cost (a)	78		78		12		12
Expected return on plan assets (a)	(100)		(104)		(10)		(10)
Amortization of prior service credit (a)	(1)		—		—		—
Amortization of net loss (a)	22		14		2		2

Net periodic benefit cost	39		26		5		4
Effects of regulation	(1)		4		—		—
Net benefit cost recognized for financial reporting	$	38	$	30	$	5	$	4

(a)The components of net periodic cost other than the service cost component are included in the line item “Other income, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset.

In January 2026, contributions totaling $75 million were made across Xcel Energy’s pension plans. Xcel Energy does not expect additional pension contributions during 2026.

^[1]

[1]	The components of net periodic cost other than the service cost component are included in the line item “Other income, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset.