Last10K.com

Northern States Power Co (72909) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Northern States Power Co

CIK: 72909

Exhibit 99.01
logoa10.jpg
 
414 Nicollet Mall
Jan. 31, 2019

Minneapolis, MN 55401

XCEL ENERGY
2018 YEAR END EARNINGS REPORT

GAAP 2018 earnings per share were $2.47 compared with $2.25 per share in 2017.
Ongoing 2018 earnings per share were $2.47 compared with $2.30 per share in 2017.
Xcel Energy reaffirms 2019 earnings guidance of $2.55 to $2.65 per share.

MINNEAPOLIS — Xcel Energy Inc. (NASDAQ: XEL) today reported 2018 GAAP and ongoing earnings of $1,261 million, or $2.47 per share, compared with GAAP earnings of $1,148 million or $2.25 per share and ongoing earnings of $1,171 million or $2.30 per share in 2017.

GAAP and ongoing earnings increased as a result of higher electric and natural gas revenues primarily due to favorable weather and sales growth and higher AFUDC. These positive factors were partially offset by increased O&M, depreciation and interest expenses. GAAP earnings for 2017 include the non-recurring negative impact of the TCJA.

“Xcel Energy executed exceptionally well in 2018, achieving our financial targets and delivering outstanding value to customers and stakeholders. For the 14th consecutive year, we have met or exceeded our earnings guidance,” said chairman, president and CEO Ben Fowke. “In addition, throughout our entire company there is great pride that we became the first utility in the nation to announce a vision to deliver 100 percent carbon-free energy to our customers by 2050.”

“Our clean energy leadership is creating economic development opportunities for the communities we serve,” Fowke continued. “This is demonstrated by Google’s recent announcement regarding a new data center in Becker, Minnesota, which would be powered by our renewable energy.”

Earnings Adjusted for Certain Items (Ongoing Earnings)

A reconciliation of ongoing earnings per share (EPS) to generally accepted accounting principles (GAAP) EPS follows. Ongoing earnings is a non-GAAP financial measure. See “Non-GAAP Financial Measures” below for more information.
 
 
Three Months Ended Dec. 31
 
Twelve Months Ended Dec. 31
Diluted Earnings Per Share
 
2018
 
2017
 
2018
 
2017
GAAP diluted EPS
 
$
0.42

 
$
0.37

 
$
2.47

 
$
2.25

Estimated impact of the Tax Cut and Jobs Act (TCJA) (a)
 

 
0.05

 

 
0.05

Ongoing diluted EPS
 
$
0.42

 
$
0.42

 
$
2.47

 
$
2.30


(a) 
See Notes 5 and 7.


1

The following information was filed by Northern States Power Co on Thursday, January 31, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Northern States Power Co's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Northern States Power Co.

Continue

Assess how Northern States Power Co's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Northern States Power Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii, Valuation And Qualifying Accounts
Schedule Ii, Valuation And Qualifying Accounts (Details)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Common Stockholder's Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Income
Consolidated Statements Of Income (Parenthetical)
Accounting Pronouncements
Accounting Pronouncements Adoption Of New Accounting Pronouncements (Details)
Benefit Plans And Other Postretirement Benefits
Benefit Plans And Other Postretirement Benefits (Tables)
Benefit Plans And Other Postretirement Benefits, Defined Contribution Plans (Details)
Benefit Plans And Other Postretirement Benefits, Fair Value Of Pension Plan Assets (Details)
Benefit Plans And Other Postretirement Benefits, Fair Value Of Postretirement Benefit Plan Assets (Details)
Benefit Plans And Other Postretirement Benefits, Pension Benefits (Details)
Benefit Plans And Other Postretirement Benefits, Pension Plan Benefit Obligations, Cash Flows And Benefit Costs (Details)
Benefit Plans And Other Postretirement Benefits, Postretirement Benefit Plan Benefit Obligations, Cash Flows And Benefit Costs (Details)
Benefit Plans And Other Postretirement Benefits, Postretirement Health Care Benefits (Details)
Benefit Plans And Other Postretirement Benefits, Projected Benefit Payments (Details)
Borrowings And Other Financing Instruments Borrowings And Other Financing Instruments
Borrowings And Other Financing Instruments Borrowings And Other Financing Instruments (Tables)
Borrowings And Other Financing Instruments Borrowings And Other Financing Instruments, Commercial Paper (Details)
Borrowings And Other Financing Instruments Borrowings And Other Financing Instruments, Credit Facilities (Details)
Borrowings And Other Financing Instruments Borrowings And Other Financing Instruments, Deferred Financing Costs (Details)
Borrowings And Other Financing Instruments Borrowings And Other Financing Instruments, Dividend And Other Capital-Related Restrictions (Details)
Borrowings And Other Financing Instruments Borrowings And Other Financing Instruments, Letters Of Credit (Details)
Borrowings And Other Financing Instruments Borrowings And Other Financing Instruments, Long-Term Borrowings And Other Financing Instruments (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies Commitments And Contingencies, Removal Costs (Details)
Commitments And Contingencies, Asset Retirement Obligations (Details)
Commitments And Contingencies, Environmental Contingencies - Site Contingencies (Details)
Commitments And Contingencies, Fuel Contracts (Details)
Commitments And Contingencies, Guarantees (Details)
Commitments And Contingencies, Joint Operating System (Details)
Commitments And Contingencies, Leases (Details)
Commitments And Contingencies, Legal Contingencies (Details)
Commitments And Contingencies, Variable Interest Entities (Details)
Fair Value Of Financial Assets And Liabilities
Fair Value Of Financial Assets And Liabilities (Tables)
Fair Value Of Financial Assets And Liabilities, Derivative Assets And Liabilities At Fair Value (Details)
Fair Value Of Financial Assets And Liabilities, Derivative Instruments (Details)
Fair Value Of Financial Assets And Liabilities, Fair Value Of Long-Term Debt (Details)
Fair Value Of Financial Assets And Liabilities, Financial Impact Of Qualifying Cash Flow Hedges (Details)
Fair Value Of Financial Assets And Liabilities, Impact Of Derivative Activity (Details)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Other Comprehensive Income
Other Comprehensive Income (Details)
Other Comprehensive Income (Tables)
Property Plant And Equipment Joint Ownership (Details)
Property Plant And Equipment Property Plant And Equipment
Property Plant And Equipment Property Plant And Equipment (Details)
Property Plant And Equipment Property Plant And Equipment (Tables)
Regulatory Assets And Liabilities
Regulatory Assets And Liabilities (Tables)
Regulatory Assets And Liabilities, Regulatory Assets (Details)
Regulatory Assets And Liabilities, Regulatory Liabilities (Details)
Related Party Transactions
Related Party Transactions (Details)
Related Party Transactions (Tables)
Revenues
Revenues (Details)
Revenues Revenues (Tables)
Segments And Related Information
Segments And Related Information (Details)
Segments And Related Information (Tables)
Summarized Quarterly Financial Data (Unaudited)
Summarized Quarterly Financial Data (Unaudited) (Details)
Summarized Quarterly Financial Data (Unaudited) (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
CIK: 72909
Form Type: 10-K Annual Report
Accession Number: 0000072909-19-000004
Submitted to the SEC: Fri Feb 22 2019 2:36:17 PM EST
Accepted by the SEC: Fri Feb 22 2019
Period: Monday, December 31, 2018
Industry: Electric And Other Services Combined

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/72909/0000072909-19-000004.htm