XELXcel Energy
Xcel Energy Inc.’s Subsidiaries and Affiliates (current and former) Capital Services Capital Services, LLC Eloigne Eloigne Company e prime e prime inc. 10-K, Item 1
- Employees
- 11,534
- Headquarters
- Minneapolis, MN
- CEO
- Robert Frenzel
- Next results
- around Feb 4, 2027
What the 10-K filed 2026-02-25 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-27.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
No specific sentence about this in the 10-K.
Key suppliers
Parts or manufacturing that depend on one or a few suppliers.
No specific sentence about this in the 10-K.
Lawsuits and legal claims
4 newPending cases, settlements and what the company has set aside for them.
New “Marshall Wildfire Litigation — In the third quarter of 2025, PSCo recognized a non-recurring $287 million charge as a result of a settlement reached with the plaintiffs in the Marshall Wildfire litigation.”
Read it in the 10-K ↗
“Factors such as the cause of a wildfire, the extent and magnitude of potential damages and the status of investigation, legal proceedings, mediations and settlements are considered.”
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New “Prior to trial, in September 2025, Xcel Energy, Qwest Corporation and Teleport Communications America, LLC reached settlement agreements in principle that resolve all claims asserted by the subrogation insurers, the public entity plaintiffs and individual plaintiffs, and require PSCo to make settlement payments of $640 million.”
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New “In addition to filed complaints and claims made through SPS’ claims process, SPS has also received information from attorneys for approximately 101 claims which have not been submitted through the claims process and have also not been filed as lawsuits and has reached settlement of 79 of those claims through mediation.”
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New “In December 2025, the Texas Attorney General’s office filed a lawsuit against SPS regarding the Smokehouse Creek Fire, seeking monetary damages and civil penalties for losses to property and wildlife resulting from the fires.”
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Guarantees and indemnities
Promises to pay someone else's debts or losses if they cannot.
“Most of the guarantees and bond indemnities issued by Xcel Energy Inc. and its subsidiaries have a stated maximum amount.”
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“Guarantees and bond indemnities issued and outstanding for Xcel Energy were $120 million and $93 million at Dec. 31, 2025 and 2024, respectively.”
Read it in the 10-K ↗
“Maximum future payments under these indemnifications cannot be reasonably estimated as the dollar amounts are often not explicitly stated.”
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Debt covenants
1 newConditions in loan agreements that, if broken, can make debt due early.
“(a)Each credit facility has a financial covenant requiring that the debt-to-total capitalization ratio be less than or equal to 65% (70% for Xcel Energy Inc.).”
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“If Xcel Energy Inc. or its utility subsidiaries do not comply with the covenant, an event of default may be declared, and if not remedied, any outstanding amounts due under the facility can be declared due by the lender.”
Read it in the 10-K ↗
“As of Dec. 31, 2025, Xcel Energy Inc. and its subsidiaries were in compliance with the financial covenant.”
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New “The term loan includes one financial covenant, requiring Xcel Energy’s consolidated funded debt to total capitalization ratio to be less than or equal to 70 percent.”
Read it in the 10-K ↗
Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
No specific sentence about this in the 10-K.
Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on XEL in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/XEL/export.csv") into a cell.