8-KOther Events

XCEL ENERGY INC 8-K Report (Jun 9, 2003)

Filed June 9, 2003For Securities:XELXELLL

Summary

Xcel Energy Inc. (XEL) filed an 8-K on June 9, 2003, primarily to disclose a presentation made to the Deutsche Bank Conference. This presentation included material non-public information regarding the company's recent operational results and financial condition. Investors should note that the presentation contained non-GAAP financial measures, which management believes are more indicative of future earnings performance. These adjusted measures account for specific historical and expected future events, including the divestiture of Viking Gas Transmission and the anticipated impact of NRG Energy's bankruptcy and restructuring.

Key Highlights

  • 1Xcel Energy presented at the Deutsche Bank Conference on June 9, 2003.
  • 2The presentation contained material, non-public information.
  • 3The company utilized non-GAAP financial measures in its presentation.
  • 4These non-GAAP measures were adjusted to reflect historical and expected future events.
  • 5Management believes these adjusted measures offer a better indication of future earnings performance.
  • 6The presentation included the impact of the divestiture of Viking Gas Transmission (sold January 2003).
  • 7The presentation addressed the expected impact of NRG Energy's bankruptcy filing and financial restructuring on Xcel Energy.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose a presentation Xcel Energy made to the Deutsche Bank Conference on June 9, 2003, which contained material non-public information and financial measures not based on GAAP.

Xcel Energy used non-GAAP financial measures because management believes these measures, which adjust for specific historical and future events like divestitures and restructuring impacts, are more indicative of the company's future earnings performance.

The adjusted financial measures reflected the divestiture of Viking Gas Transmission, which was sold in January 2003, and the expected future divestiture of NRG Energy, Inc. as a result of its bankruptcy filing and financial restructuring.

The detailed information presented at the conference is available as Exhibit 99.01 to this 8-K filing.