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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2017
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION At June 30, 2017, we reported six segments, which are described below.
• | The Wisconsin segment includes the electric and natural gas utility operations of WE, WG, and WPS, including WE's and WPS's electric and natural gas operations in the state of Michigan that were transferred to UMERC effective January 1, 2017.
• | The Illinois segment includes the natural gas utility and non-utility operations of PGL and NSG.
• | The other states segment includes the natural gas utility and non-utility operations of MERC and MGU.
• | The electric transmission segment includes our approximate 60% ownership interest in ATC, a for-profit, electric transmission company regulated by the FERC and certain state regulatory commissions.
• | Following the acquisition of Bluewater, our We Power segment was renamed the non-utility energy segment. This segment includes We Power, which owns and leases generating facilities to WE, and Bluewater, which owns underground natural gas storage facilities in Michigan. See Note 2, Acquisition, for more information on the Bluewater transaction.
• | The corporate and other segment includes the operations of the WEC Energy Group holding company, the Integrys holding company, the Peoples Energy, LLC holding company, Wispark LLC, Bostco, Wisvest, Wisconsin Energy Capital Corporation, WBS, WPS Power Development LLC, and ITF. In the first quarter of 2017, we sold substantially all of the remaining assets of Bostco and in the second quarter of 2016, we sold certain assets of Wisvest. The sale of ITF was completed in the first quarter of 2016. See Note 3, Dispositions, for more information on these sales.
All of our operations are located within the United States. The following tables show summarized financial information related to our reportable segments for the three and six months ended June 30, 2017 and 2016:
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
Three Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,303.2 |  |  | $ | 253.2 |  |  | $ | 65.7 |  |  | $ | 1,622.1 |  |  | $ | — |  |  | $ | 6.2 |  |  | $ | 3.2 |  |  | $ | — |  |  | $ | 1,631.5 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 112.6 |  |  | — |  |  | (112.6 | ) |  | — |
Other operation and maintenance |  | 458.7 |  |  | 104.9 |  |  | 23.3 |  |  | 586.9 |  |  | — |  |  | 2.7 |  |  | 2.8 |  |  | (112.6 | ) |  | 479.8 |
Depreciation and amortization |  | 130.3 |  |  | 37.5 |  |  | 6.1 |  |  | 173.9 |  |  | — |  |  | 17.4 |  |  | 6.4 |  |  | — |  |  | 197.7 |
Operating income (loss) |  | 223.6 |  |  | 41.4 |  |  | 4.7 |  |  | 269.7 |  |  | — |  |  | 98.7 |  |  | (6.2 | ) |  | — |  |  | 362.2 |
Equity in earnings of transmission affiliate |  | — |  |  | — |  |  | — |  |  | — |  |  | 41.8 |  |  | — |  |  | — |  |  | — |  |  | 41.8 |
Interest expense |  | 48.2 |  |  | 10.9 |  |  | 1.9 |  |  | 61.0 |  |  | — |  |  | 15.2 |  |  | 26.8 |  |  | (1.1 | ) |  | 101.9 |
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
Three Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,304.5 |  |  | $ | 222.8 |  |  | $ | 64.0 |  |  | $ | 1,591.3 |  |  | $ | — |  |  | $ | 6.3 |  |  | $ | 4.4 |  |  | $ | — |  |  | $ | 1,602.0 |
Intersegment revenues |  | 0.2 |  |  | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 107.6 |  |  | — |  |  | (107.8 | ) |  | — |
Other operation and maintenance |  | 487.8 |  |  | 116.2 |  |  | 29.4 |  |  | 633.4 |  |  | — |  |  | 2.7 |  |  | (6.3 | ) |  | (107.8 | ) |  | 522.0 |
Depreciation and amortization |  | 122.7 |  |  | 33.1 |  |  | 5.2 |  |  | 161.0 |  |  | — |  |  | 17.0 |  |  | 12.0 |  |  | — |  |  | 190.0 |
Operating income (loss) |  | 214.7 |  |  | 22.6 |  |  | 2.3 |  |  | 239.6 |  |  | — |  |  | 94.1 |  |  | (1.6 | ) |  | — |  |  | 332.1 |
Equity in earnings of transmission affiliate |  | — |  |  | — |  |  | — |  |  | — |  |  | 30.9 |  |  | — |  |  | — |  |  | — |  |  | 30.9 |
Interest expense |  | 44.4 |  |  | 9.8 |  |  | 2.1 |  |  | 56.3 |  |  | — |  |  | 15.6 |  |  | 30.2 |  |  | (2.0 | ) |  | 100.1 |
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
Six Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,915.3 |  |  | $ | 778.5 |  |  | $ | 223.6 |  |  | $ | 3,917.4 |  |  | $ | — |  |  | $ | 12.5 |  |  | $ | 6.1 |  |  | $ | — |  |  | $ | 3,936.0 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 221.6 |  |  | — |  |  | (221.6 | ) |  | — |
Other operation and maintenance |  | 921.6 |  |  | 225.8 |  |  | 51.6 |  |  | 1,199.0 |  |  | — |  |  | 3.1 |  |  | 1.2 |  |  | (221.6 | ) |  | 981.7 |
Depreciation and amortization |  | 259.6 |  |  | 73.7 |  |  | 12.1 |  |  | 345.4 |  |  | — |  |  | 34.9 |  |  | 12.0 |  |  | — |  |  | 392.3 |
Operating income (loss) |  | 555.9 |  |  | 196.8 |  |  | 38.1 |  |  | 790.8 |  |  | — |  |  | 196.1 |  |  | (7.4 | ) |  | — |  |  | 979.5 |
Equity in earnings of transmission affiliate |  | — |  |  | — |  |  | — |  |  | — |  |  | 83.7 |  |  | — |  |  | — |  |  | — |  |  | 83.7 |
Interest expense |  | 96.9 |  |  | 22.0 |  |  | 4.2 |  |  | 123.1 |  |  | — |  |  | 30.5 |  |  | 55.9 |  |  | (2.9 | ) |  | 206.6 |
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
Six Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,884.3 |  |  | $ | 671.3 |  |  | $ | 212.4 |  |  | $ | 3,768.0 |  |  | $ | — |  |  | $ | 12.5 |  |  | $ | 16.3 |  |  | $ | — |  |  | $ | 3,796.8 |
Intersegment revenues |  | 0.3 |  |  | — |  |  | — |  |  | 0.3 |  |  | — |  |  | 212.1 |  |  | — |  |  | (212.4 | ) |  | — |
Other operation and maintenance |  | 979.1 |  |  | 234.1 |  |  | 59.4 |  |  | 1,272.6 |  |  | — |  |  | 3.1 |  |  | (9.8 | ) |  | (212.4 | ) |  | 1,053.5 |
Depreciation and amortization |  | 245.6 |  |  | 65.9 |  |  | 10.3 |  |  | 321.8 |  |  | — |  |  | 34.0 |  |  | 22.1 |  |  | — |  |  | 377.9 |
Operating income (loss) |  | 542.2 |  |  | 159.6 |  |  | 34.1 |  |  | 735.9 |  |  | — |  |  | 187.4 |  |  | (1.9 | ) |  | — |  |  | 921.4 |
Equity in earnings of transmission affiliate |  | — |  |  | — |  |  | — |  |  | — |  |  | 69.4 |  |  | — |  |  | — |  |  | — |  |  | 69.4 |
Interest expense |  | 88.9 |  |  | 19.5 |  |  | 4.6 |  |  | 113.0 |  |  | — |  |  | 31.2 |  |  | 61.5 |  |  | (4.7 | ) |  | 201.0 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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