Xcel Energy Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	1,915	1,936	1,771	1,736	1,597	1,473
Depreciation & Amortization	3,038	2,875	2,567	2,554	2,257	2,082
Loss (Gain) on Equity Investments	3	-19	-35	-36	-62	-40
Stock-Based Compensation	44	33	25	20	31	73
Change in Accounts Receivable	-69	40	225	-672	-313	-157
Change in Inventory	-271	-140	-98	-203	-126	-80
Change in Accounts Payable	-6	37	-149	195	138	-33
Change in Other Net Operating Assets	57	-109	1,214	565	-1,143	-285
Other Operating Activities	-220	-59	-272	-300	-250	-245
Operating Cash Flow	4,538	4,641	5,327	3,932	2,189	2,848
Operating Cash Flow Growth	-8.34%	-12.88%	35.48%	79.63%	-23.14%	-12.72%
Capital Expenditures	-9,687	-7,364	-5,854	-4,638	-4,244	-5,369
Sale of Property, Plant & Equipment	-	-	-	-	-	684
Contributions to Nuclear Demissioning Trust	-1,159	-998	-994	-1,332	-757	-1,398
Other Investing Activities	1,123	934	922	1,317	714	1,343
Investing Cash Flow	-9,723	-7,428	-5,926	-4,653	-4,287	-4,740
Short-Term Debt Issued	-	-	-	-	421	-
Long-Term Debt Issued	-	3,647	2,630	2,164	2,710	2,940
Total Debt Issued	5,522	3,647	2,630	2,164	3,131	2,940
Short-Term Debt Repaid	-	-90	-28	-192	-	-11
Long-Term Debt Repaid	-	-656	-1,151	-601	-417	-1,001
Total Debt Repaid	-729	-746	-1,179	-793	-417	-1,012
Net Debt Issued (Repaid)	4,793	2,901	1,451	1,371	2,714	1,928
Issuance of Common Stock	1,159	1,117	270	322	366	727
Common Dividends Paid	-1,258	-1,175	-1,092	-1,012	-935	-856
Other Financing Activities	-2	-6	-12	-15	-10	-26
Financing Cash Flow	4,692	2,837	617	666	2,135	1,773
Net Cash Flow	-493	50	18	-55	37	-119
Free Cash Flow	-5,149	-2,723	-527	-706	-2,055	-2,521
Free Cash Flow Margin	-36.19%	-20.26%	-3.71%	-4.61%	-15.30%	-21.87%
Free Cash Flow Per Share	-8.85	-4.84	-0.95	-1.29	-3.81	-4.78
Cash Interest Paid	1,170	1,131	945	887	788	758
Cash Income Tax Paid	-	-588	-92	15	4	-12
Levered Free Cash Flow	-5,285	-3,603	-1,069	-1,386	-1,794	-2,768
Unlevered Free Cash Flow	-4,420	-2,819	-409.88	-790.13	-1,268	-2,243
Change in Working Capital	-289	-172	1,192	-115	-1,444	-555

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.