v3.26.3
Segment Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Results from Operations by Reportable Segment
Segment information and reconciliation to PSCo’s consolidated net income:
Three Months Ended Sept. 30, 2026
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$1,282 $180 $1,462 
Intersegment revenues— 2 2 
Total segment revenues1,282 182 1,464 
Electric fuel and purchased power317 — 317 
Cost of natural gas sold and transported— 33 33 
O&M expenses185 71 256 
Depreciation and amortization226 80 306 
Other segment expenses, net53 8 61 
Interest charges and financing costs95 22 117 
Income tax expense (benefit)42 (17)25 
Net income (loss)$364 $(15)$349 
Total segment net income$349 
Non-segment net income14 
Consolidated net income$363 
(a)Operating revenues include $2 million of other affiliate revenue.
Three Months Ended Sept. 30, 2025
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$1,209 $183 $1,392 
Intersegment revenues— 3 3 
Total segment revenues1,209 186 1,395 
Electric fuel and purchased power378 — 378 
Cost of natural gas sold and transported— 36 36 
O&M expenses162 69 231 
Depreciation and amortization200 73 273 
Other segment expenses, net352 21 373 
Interest charges and financing costs72 21 93 
Income tax benefit(20)(12)(32)
Net income (loss)$65 $(22)$43 
Total segment net income$43 
Non-segment net income5 
Consolidated net income$48 
(a)Operating revenues include $1 million of other affiliate revenue.
Nine Months Ended Sept. 30, 2026
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$3,242 $935 $4,177 
Intersegment revenues— 5 5 
Total segment revenues3,242 940 4,182 
Electric fuel and purchased power911 — 911 
Cost of natural gas sold and transported— 308 308 
O&M expenses506 210 716 
Depreciation and amortization661 235 896 
Other segment expenses, net137 46 183 
Interest charges and financing costs265 68 333 
Income tax benefit21 (1)20 
Net income$741 $74 $815 
Total segment net income$815 
Non-segment net income9 
Consolidated net income$824 
(a)Operating revenues include $4 million of other affiliate revenue.
Nine Months Ended Sept. 30, 2025
(Millions of Dollars)Regulated electric utilityRegulated natural gas utilityTotal segments
Operating revenues (a)
$3,105 $1,070 $4,175 
Intersegment revenues— 8 8 
Total segment revenues3,105 1,078 4,183 
Electric fuel and purchased power1,007 — 1,007 
Cost of natural gas sold and transported— 380 380 
O&M expenses492 211 703 
Depreciation and amortization596 216 812 
Other segment expenses, net488 77 565 
Interest charges and financing costs212 61 273 
Income tax (benefit) expense (28)22 (6)
Net income$338 $111 $449 
Total segment net income$449 
Non-segment net income13 
Consolidated net income$462 
(a)Operating revenues include $4 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.