Summary
Xcel Energy Inc. (XEL) filed an 8-K on November 17, 2003, primarily to furnish a presentation made to Banc of America. This presentation discusses the company's recent results of operations and financial condition. Investors should note that the presentation includes material non-public information and non-GAAP financial measures. Management believes these adjusted measures provide a clearer view of future earnings performance by excluding certain historic and expected future events. The key financial adjustments highlighted in the presentation pertain to the anticipated divestiture of NRG Energy, Inc. due to its bankruptcy filing and restructuring, as well as the completed divestiture of Viking Gas Transmission in January 2003. These actions are expected to impact the company's reported financial results and are being presented on a pro-forma basis.
Key Highlights
- 1Xcel Energy Inc. (XEL) filed an 8-K on November 17, 2003, to present information to Banc of America.
- 2The filing includes a presentation detailing recent results of operations and financial condition.
- 3The presentation contains material, non-public information.
- 4Non-GAAP financial measures are utilized, adjusted for specific events management deems indicative of future performance.
- 5Key adjustments reflect the expected divestiture of NRG Energy, Inc. due to its bankruptcy and restructuring.
- 6The presentation also accounts for the divestiture of Viking Gas Transmission, sold in January 2003.