2023 Q1 Form 10-K Financial Statement

#000007290323000007 Filed on February 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $4.080B $4.053B $15.31B
YoY Change 8.77% 37.53% 13.99%
Cost Of Revenue $856.0M $788.0M $1.954B
YoY Change 18.89% 61.48% 74.62%
Gross Profit $3.224B $3.265B $13.36B
YoY Change 6.37% 13.88% 8.48%
Gross Profit Margin 79.02% 80.56% 87.24%
Selling, General & Admin $136.0M $72.00M $331.0M
YoY Change -12.26% -55.83% -43.99%
% of Gross Profit 4.22% 2.21% 2.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $660.0M $606.0M $2.413B
YoY Change 10.55% 5.57% 6.91%
% of Gross Profit 20.47% 18.56% 18.07%
Operating Expenses $2.651B $2.740B $10.93B
YoY Change 5.16% 12.57% 8.1%
Operating Profit $573.0M $525.0M $2.428B
YoY Change 12.35% 23.24% 10.21%
Interest Expense $253.0M -$222.0M -$857.0M
YoY Change 18.22% 20.65% -201.78%
% of Operating Profit 44.15% -42.29% -35.3%
Other Income/Expense, Net $5.000M $21.00M $30.00M
YoY Change 400.0% 31.25% 500.0%
Pretax Income $365.0M $324.0M $1.601B
YoY Change 10.61% 23.66% 4.85%
Income Tax -$53.00M -$55.00M -$135.0M
% Of Pretax Income -14.52% -16.98% -8.43%
Net Earnings $418.0M $379.0M $1.736B
YoY Change 10.0% 31.6% 8.7%
Net Earnings / Revenue 10.25% 9.35% 11.34%
Basic Earnings Per Share $0.76 $3.18
Diluted Earnings Per Share $0.76 $690.3K $3.174M
COMMON SHARES
Basic Shares Outstanding 549.8M shares 547.2M shares 547.0M shares
Diluted Shares Outstanding 551.0M shares 547.0M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.0M $111.0M $111.0M
YoY Change 26.67% -33.13% -33.13%
Cash & Equivalents $114.0M $111.0M $111.0M
Short-Term Investments
Other Short-Term Assets $2.259B $2.857B $2.857B
YoY Change 0.98% 17.86% 17.86%
Inventory $580.0M $803.0M $803.0M
Prepaid Expenses
Receivables $1.300B $1.373B $1.373B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.253B $5.144B $5.144B
YoY Change 5.74% 21.35% 21.35%
LONG-TERM ASSETS
Property, Plant & Equipment $48.90B $48.25B $49.57B
YoY Change 6.67% 6.15% 5.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $228.0M $219.0M $352.0M
YoY Change 6.05% 5.29% -5.38%
Other Assets $475.0M $389.0M $6.118B
YoY Change 3.26% -9.74% -3.91%
Total Long-Term Assets $56.69B $56.04B $56.04B
YoY Change 5.06% 4.54% 4.54%
TOTAL ASSETS
Total Short-Term Assets $4.253B $5.144B $5.144B
Total Long-Term Assets $56.69B $56.04B $56.04B
Total Assets $60.95B $61.19B $61.19B
YoY Change 5.1% 5.77% 5.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.338B $1.804B $1.804B
YoY Change 6.44% 28.03% 28.03%
Accrued Expenses $466.0M $434.0M $434.0M
YoY Change 13.11% 4.83% 4.83%
Deferred Revenue
YoY Change
Short-Term Debt $1.079B $813.0M $813.0M
YoY Change 8.33% -19.1% -19.1%
Long-Term Debt Due $903.0M $1.153B $1.153B
YoY Change 5.61% 90.89% 90.89%
Total Short-Term Liabilities $5.661B $6.078B $6.078B
YoY Change 5.77% 20.45% 20.45%
LONG-TERM LIABILITIES
Long-Term Debt $22.88B $22.88B $22.88B
YoY Change 5.92% 4.7% 4.7%
Other Long-Term Liabilities $148.0M $147.0M $10.75B
YoY Change -6.33% -6.96% 3.43%
Total Long-Term Liabilities $148.0M $147.0M $33.63B
YoY Change -6.33% -6.96% 4.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.661B $6.078B $6.078B
Total Long-Term Liabilities $148.0M $147.0M $33.63B
Total Liabilities $5.809B $6.225B $44.51B
YoY Change 5.43% 19.62% 5.38%
SHAREHOLDERS EQUITY
Retained Earnings $7.370B $7.239B
YoY Change 10.23% 10.15%
Common Stock $9.545B $9.529B
YoY Change 4.18% 3.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.82B $16.68B $16.68B
YoY Change
Total Liabilities & Shareholders Equity $60.95B $61.19B $61.19B
YoY Change 5.1% 5.77% 5.77%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $418.0M $379.0M $1.736B
YoY Change 10.0% 31.6% 8.7%
Depreciation, Depletion And Amortization $660.0M $606.0M $2.413B
YoY Change 10.55% 5.57% 6.91%
Cash From Operating Activities $1.537B $765.0M $3.932B
YoY Change 34.82% 25.41% 79.63%
INVESTING ACTIVITIES
Capital Expenditures $1.265B $1.313B $4.638B
YoY Change -234.29% -208.33% -209.28%
Acquisitions
YoY Change
Other Investing Activities $11.00M -$19.00M -$20.00M
YoY Change 1000.0% 90.0% -168.97%
Cash From Investing Activities -$1.284B -$1.332B -$4.653B
YoY Change 34.87% 9.0% 8.54%
FINANCING ACTIVITIES
Cash Dividend Paid $259.0M $1.012B
YoY Change 7.92% 8.24%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $250.0M $601.0M
YoY Change 44.12%
Cash From Financing Activities -$250.0M 561.0M $666.0M
YoY Change -5.3% 281.63% -68.81%
NET CHANGE
Cash From Operating Activities $1.537B 765.0M $3.932B
Cash From Investing Activities -$1.284B -1.332B -$4.653B
Cash From Financing Activities -$250.0M 561.0M $666.0M
Net Change In Cash $3.000M -6.000M -$55.00M
YoY Change -103.95% -98.71% -248.65%
FREE CASH FLOW
Cash From Operating Activities $1.537B $765.0M $3.932B
Capital Expenditures $1.265B $1.313B $4.638B
Free Cash Flow $272.0M -$548.0M -$706.0M
YoY Change -86.94% -130.08% -110.97%

Facts In Submission

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<div style="margin-bottom:5pt;text-align:justify"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates </span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— Xcel Energy uses estimates based on the best information available in recording transactions and balances resulting from business operations. </span></div><div style="margin-bottom:5pt;text-align:justify"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Estimates are used for items such as plant depreciable lives or potential disallowances, AROs, certain regulatory assets and liabilities, tax provisions, uncollectible amounts, environmental costs, unbilled revenues, jurisdictional fuel and energy cost allocations and actuarially determined benefit costs. Recorded estimates are revised when better information becomes available or actual amounts can be determined. Revisions can affect operating results.</span></div>
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xel-20221231_g17.jpg Edgar Link pending
xel-20221231_g18.jpg Edgar Link pending
xel-20221231_g19.jpg Edgar Link pending
xel-20221231_g2.jpg Edgar Link pending
xel-20221231_g3.jpg Edgar Link pending
xel-20221231_g4.jpg Edgar Link pending
xel-20221231_g5.jpg Edgar Link pending
xel-20221231_g6.jpg Edgar Link pending
xel-20221231_g7.jpg Edgar Link pending
xel-20221231_g8.jpg Edgar Link pending
xel-20221231_g9.jpg Edgar Link pending
xel-20221231_lab.xml Edgar Link unprocessable
xel-20221231_pre.xml Edgar Link unprocessable
xel-20221231_htm.xml Edgar Link completed