Segment Information Regulated electric utility operating results of NSP-Minnesota, NSP-Wisconsin, PSCo and SPS, as well as the regulated natural gas utility operating results of NSP-Minnesota, NSP-Wisconsin and PSCo are each separately and regularly reviewed by Xcel Energys chief operating decision maker. Xcel Energy evaluates performance by each utility subsidiary based on profit or loss generated from the product or service provided. These segments are managed separately because the revenue streams are dependent upon regulated rate recovery, which is separately determined for each segment. Xcel Energy has the following reportable segments:  Regulated Electric - The regulated electric utility segment generates, transmits and distributes electricity in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas and New Mexico. In addition, this segment includes sales for resale and provides wholesale transmission service to various entities in the United States. The regulated electric utility segment also includes wholesale commodity and trading operations.  Regulated Natural Gas - The regulated natural gas utility segment transports, stores and distributes natural gas primarily in portions of Minnesota, Wisconsin, North Dakota, Michigan and Colorado.  All Other - Operating segments with revenues below the necessary quantitative thresholds are included in this category. Those segments primarily include steam revenue, appliance repair services, non-utility real estate activities, revenues associated with processing solid waste into refuse-derived fuel and investments in rental housing projects that qualify for low-income housing tax credits. Xcel Energy had equity investments in unconsolidated subsidiaries of $145 million and $141 million as of June 30, 2019 and Dec. 31, 2018 , respectively, included in the natural gas utility and all other segments. Asset and capital expenditure information is not provided for Xcel Energys reportable segments. As an integrated electric and natural gas utility, Xcel Energy operates significant assets that are not dedicated to a specific business segment. Reporting assets and capital expenditures by business segment would require arbitrary and potentially misleading allocations which may not necessarily reflect the assets that would be required for the operation of the business segments on a stand-alone basis. Certain costs, such as common depreciation, common O&amp;M expenses and interest expense are allocated based on cost causation allocators across each segment. In addition, a general allocator is used for certain general and administrative expenses, including office supplies, rent, property insurance and general advertising. Xcel Energys segment information for the three and six months ended June 30 : Three Months Ended June 30 (Millions of Dollars) 2019 2018 Regulated Electric Operating revenues from external customers $ 2,249 $ 2,348 Intersegment revenue 1  Total revenues $ 2,250 $ 2,348 Net income 249 264 Regulated Natural Gas Operating revenues from external customers $ 308 $ 292 Net income 23 27 All Other Total operating revenue $ 20 $ 18 Net loss (34 ) (26 ) Consolidated Total Total revenue $ 2,578 $ 2,658 Reconciling eliminations (1 )  Consolidated total revenue $ 2,577 $ 2,658 Net income 238 265 Six Months Ended June 30 (Millions of Dollars) 2019 2018 Regulated Electric Operating revenues from external customers $ 4,574 $ 4,617 Intersegment revenue 1 1 Total revenues $ 4,575 $ 4,618 Net income 482 483 Regulated Natural Gas Operating revenues from external customers $ 1,102 $ 954 Intersegment revenue 1 1 Total revenues $ 1,103 $ 955 Net income 128 121 All Other Total operating revenue $ 42 $ 38 Net loss (57 ) (48 ) Consolidated Total Total revenue $ 5,720 $ 5,611 Reconciling eliminations (2 ) (2 ) Consolidated total revenue $ 5,718 $ 5,609 Net income 553 556