v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Results from Operations by Reportable Segment
Segment information and reconciliation to PSCo’s consolidated net income:
Three Months Ended June 30, 2026
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$982 $225 $1,207 
Intersegment revenues— 1 1 
Total segment revenues982 226 1,208 
Electric fuel and purchased power264 — 264 
Cost of natural gas sold and transported— 47 47 
O&M expenses166 66 232 
Depreciation and amortization223 78 301 
Other segment expenses, net49 16 65 
Interest charges and financing costs87 23 110 
Income tax benefit(14)(5)(19)
Net income$207 $1 $208 
Total segment net income$208 
Non-segment net loss(9)
Consolidated net income$199 
(a)Operating revenues include $1 million of other affiliate revenue.
Three Months Ended June 30, 2025
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$958 $260 $1,218 
Intersegment revenues— 3 3 
Total segment revenues958 263 1,221 
Electric fuel and purchased power309 — 309 
Cost of natural gas sold and transported— 80 80 
O&M expenses165 69 234 
Depreciation and amortization196 72 268 
Other segment expenses, net66 21 87 
Interest charges and financing costs70 20 90 
Income tax benefit— (3)(3)
Net income$152 $4 $156 
(a)Operating revenues include $1 million of other affiliate revenue.
Six Months Ended June 30, 2026
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$1,960 $755 $2,715 
Intersegment revenues— 3 3 
Total segment revenues1,960 758 2,718 
Electric fuel and purchased power594 — 594 
Cost of natural gas sold and transported— 275 275 
O&M expenses321 139 460 
Depreciation and amortization435 155 590 
Other segment expenses, net84 38 122 
Interest charges and financing costs170 46 216 
Income tax (benefit) expense (21)16 (5)
Net income$377 $89 $466 
Total segment net income$466 
Non-segment net loss(5)
Consolidated net income$461 
(a)Operating revenues include $2 million of other affiliate revenue.
Six Months Ended June 30, 2025
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$1,896 $887 $2,783 
Intersegment revenues— 5 5 
Total segment revenues1,896 892 2,788 
Electric fuel and purchased power629 — 629 
Cost of natural gas sold and transported— 344 344 
O&M expenses330 142 472 
Depreciation and amortization396 143 539 
Other segment expenses, net136 56 192 
Interest charges and financing costs140 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.
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.
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 wildfire litigation expense, conservation and DSM expenses, taxes (other than income taxes), other income, net, intersegment expenses and AFUDC - equity.