Xcel Energy Inc.: 10-K Risk Factor Changes

2026 vs 2025  ·  SEC EDGAR  ·  2026-06-01
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Classification is based on semantic text similarity scoring and may include approximations. “No match” means no high-confidence textual match was found — not necessarily that a section was removed.

15
New Risks
11
Removed
77
Modified
38
Unchanged
🟢 New in Current Filing

Actions of our employees, directors, third-party contractors or suppliers could expose us to reputational risks.

We could suffer negative impacts to our reputation as a result of actual or perceived fraud, misconduct, legal or regulatory violations, violations of corporate policies, inappropriate use of social media, or other actions by our employees, directors, third-party contractors or…

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We could suffer negative impacts to our reputation as a result of actual or perceived fraud, misconduct, legal or regulatory violations, violations of corporate policies, inappropriate use of social media, or other actions by our employees, directors, third-party contractors or suppliers. Reputational damage could have a material adverse effect and could result in negative customer perception, litigation and increased regulatory oversight.

🟢 New in Current Filing Growth in large load customers, including data centers, may increase customer concentration, capital requirements and revenue variability risks. 🔒
🟢 New in Current Filing We face risks related to health epidemics and other outbreaks, which may have a material effect on our financial condition, results of operations and cash flows. 🔒
🟢 New in Current Filing We may be subject to legislative and regulatory responses to climate change, with which compliance could be difficult and costly. 🔒
🟢 New in Current Filing 2025 vs. 2024 🔒
🟢 New in Current Filing Additional Information 🔒
🟢 New in Current Filing PSCW decision: 🔒
🟢 New in Current Filing Pending and Recently Concluded Regulatory Proceedings 🔒
🟢 New in Current Filing Additional Information 🔒
🟢 New in Current Filing Supply Chain 🔒
🟢 New in Current Filing Tax Law Changes 🔒
🟢 New in Current Filing Recently Adopted 🔒
🟢 New in Current Filing 4. Regulatory Assets and Liabilities 🔒
🟢 New in Current Filing Minimum Expected Proceeds (millions of dollars) 🔒
🟢 New in Current Filing Pro-Forma/Hypothetical TransactionsAgreements EnteredNet Settlement:Physical Share Delivery Proceeds (millions of dollars)Common Shares (in millions)Net Cash (millions of dollars)2025 forward equity agreements0.1$7 $934 🔒
🔴 No Match in Current Filing Oversight of Risk and Related Processes 🔒
🔴 No Match in Current Filing Our employees, directors, third-party contractors, or suppliers may violate or be perceived to violate our Codes of Conduct, which could have an adverse effect on our reputation. 🔒
🔴 No Match in Current Filing Operations could be impacted by war, terrorism or other events. 🔒
🔴 No Match in Current Filing Increased risks of regulatory penalties could negatively impact our business. 🔒
🔴 No Match in Current Filing 2024 vs. 2023 🔒
🔴 No Match in Current Filing Nuclear Power Operations 🔒
🔴 No Match in Current Filing Additional Information 🔒
🔴 No Match in Current Filing Purchased Power and Transmission Service Providers 🔒
🔴 No Match in Current Filing Commitments and Contingencies - Wildfires – Refer to Note 12 to the consolidated financial statements 🔒
🔴 No Match in Current Filing Recently Adopted 🔒
🔴 No Match in Current Filing 6. Revenues 🔒
🟡 Modified Excess Liability Insurance Coverage 🔒
🟡 Modified Operations could be impacted by war, terrorism or other events. 🔒
🟡 Modified Recovery Mechanisms 🔒
🟡 Modified Station, Location and Unit at Dec. 31, 2025 🔒
🟡 Modified Station, Location and Unit at Dec. 31, 2025 🔒
🟡 Modified Our profitability depends on the ability of our utility subsidiaries to recover their costs and changes in regulation may impair the ability of our utility subsidiaries to recover costs from their customers. 🔒
🟡 Modified We are subject to credit risks. 🔒
🟡 Modified Nuclear Decommissioning 🔒
🟡 Modified Earnings Guidance and Long-Term EPS and Dividend Growth Rate Objectives 🔒
🟡 Modified Our operations use third-party contractors in addition to employees to perform periodic and ongoing work. 🔒
🟡 Modified Our utility operations, resource adequacy and system reliability are subject to long-term planning and project risks. 🔒
🟡 Modified Options Maturity(Millions of Dollars)Less Than1 Year1 to 3 Years4 to 5 YearsGreater Than5 YearsTotal Fair ValueNSP-Minnesota (b)$— $10 $10 $— $20 🔒
🟡 Modified Dec. 31, 2024 (a) 🔒
🟡 Modified Wholesale and Commodity Marketing Operations 🔒
🟡 Modified CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDERS’ EQUITY 🔒
🟡 Modified Increased risks of regulatory penalties could negatively impact our business. 🔒
🟡 Modified Annual weather-normalized and leap year adjusted natural gas sales growth (decline) 🔒
🟡 Modified Additional Information 🔒
🟡 Modified Recovery Mechanisms 🔒
🟡 Modified Short-Term Borrowings 🔒
🟡 Modified CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 🔒
🟡 Modified Additional Information 🔒
🟡 Modified Joint Ownership of Generation, Transmission and Gas Facilities 🔒
🟡 Modified Other Utility Items 🔒
🟡 Modified Station, Location and Unit at Dec. 31, 2025 🔒
🟡 Modified Station, Location and Unit at Dec. 31, 2025 🔒
🟡 Modified Our utilities have significant risks associated with wildfires. 🔒
🟡 Modified A cybersecurity incident or security breach could have a material effect on our business. 🔒
🟡 Modified Employee Benefits 🔒
🟡 Modified Statement of Income Analysis 🔒
🟡 Modified Natural Gas Revenues 🔒
🟡 Modified Earnings Adjusted for Certain Items (Ongoing Earnings and Ongoing Diluted EPS) 🔒
🟡 Modified Xcel Energy Inc. and Other Results 🔒
🟡 Modified Non-Fuel Operating Expenses and Other Items 🔒
🟡 Modified Results of Operations 🔒
🟡 Modified Any reductions in our credit ratings could increase our financing costs and the cost of maintaining certain contractual relationships. 🔒
🟡 Modified Purchased Power and Transmission Service Providers 🔒
🟡 Modified Pending and Recently Concluded Regulatory Proceedings 🔒
🟡 Modified Derivatives, Risk Management and Market Risk 🔒
🟡 Modified Financing Cash Flows 🔒
🟡 Modified We must rely on cash from our subsidiaries to make dividend payments. 🔒
🟡 Modified 2025 Comparison with 2024 🔒
🟡 Modified Material Cash Requirements and Other Commitments 🔒
🟡 Modified Electric Revenues 🔒
🟡 Modified (Millions of Dollars)Year Ended Dec. 31AverageHighLow2025$— $— $1 $— 2024— — 1 — 🔒
🟡 Modified 2024 Comparison with 2023 🔒
🟡 Modified Off-Balance Sheet Arrangements 🔒
🟡 Modified Annual weather-normalized and leap year adjusted electric sales growth (decline) 🔒
🟡 Modified Failure to attract and retain a qualified workforce could have an adverse effect on operations. 🔒
🟡 Modified Capital Sources 🔒
🟡 Modified Critical Audit Matter 🔒
🟡 Modified Additional Information on Regulatory Authority 🔒
🟡 Modified We are subject to commodity risks and other risks associated with energy markets and energy production. 🔒
🟡 Modified Credit Facility (a) 🔒
🟡 Modified Nuclear Power Operations 🔒
🟡 Modified Total revenue change 🔒
🟡 Modified Operating Cash Flows 🔒
🟡 Modified Recently Issued 🔒
🟡 Modified Major classes of property, plant and equipment 🔒
🟡 Modified Investing Cash Flows 🔒
🟡 Modified CONSOLIDATED STATEMENTS OF CASH FLOWS 🔒
🟡 Modified Wholesale and Commodity Marketing Operations 🔒
🟡 Modified Additional Information 🔒
🟡 Modified Federal tax law may significantly impact our business. 🔒
🟡 Modified Common Stock Authorized (Shares)Par Value of Common StockCommon Stock Outstanding (Shares) as of Dec. 31, 2025Common Stock Outstanding (Shares) as of Dec. 31, 20241,000,000,000 $2.50 623,600,715 574,365,598 🔒
🟡 Modified Our natural gas and electric generation/transmission and distribution operations involve numerous risks that may result in accidents and other operating risks and costs. 🔒
🟡 Modified Pending and Recently Concluded Regulatory Proceedings 🔒
🟡 Modified CONSOLIDATED STATEMENTS OF INCOME 🔒
🟡 Modified Income Tax Accruals 🔒
🟡 Modified Purchased Power and Transmission Services 🔒
🟡 Modified Our utilities are highly dependent on suppliers to deliver components in accordance with short and long-term project schedules. 🔒
🟡 Modified Additional Information 🔒
🟡 Modified Pending and Recently Concluded Regulatory Proceedings 🔒
🟡 Modified Loss Contingencies – Wildfires 🔒
🟡 Modified Changes in Diluted EPS 🔒
🟡 Modified CONSOLIDATED BALANCE SHEETS 🔒
🟡 Modified Pending Regulatory Proceedings 🔒
102 more changes in this filing

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