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Property, Plant, and Equipment | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT, AND EQUIPMENT Property, plant, and equipment consisted of the following at December 31:
(in millions) |  | 2018 |  | 2017
Electric – generation |  | $ | 6,410.6 |  |  | $ | 6,071.8 |
Electric – distribution |  | 6,534.6 |  |  | 6,137.5 |
Natural gas – distribution, storage, and transmission |  | 10,766.3 |  |  | 10,055.9 |
Property, plant, and equipment to be retired, net |  | 174.8 |  |  | 930.6 |
Other |  | 1,649.1 |  |  | 1,381.5 |
Less: Accumulated depreciation |  | 7,573.6 |  |  | 7,021.8 |
Net |  | 17,961.8 |  |  | 17,555.5 |
CWIP |  | 707.5 |  |  | 508.2 |
Net utility property, plant, and equipment |  | 18,669.3 |  |  | 18,063.7 |
We Power generation |  | 3,244.4 |  |  | 3,215.9 |
Renewable generation |  | 193.3 |  |  | — |
Natural gas storage |  | 244.8 |  |  | 244.8 |
Net non-utility energy infrastructure |  | 3,682.5 |  |  | 3,460.7 |
Corporate services |  | 171.0 |  |  | 169.6 |
Other |  | 127.1 |  |  | 166.9 |
Less: Accumulated depreciation |  | 731.5 |  |  | 671.3 |
Net |  | 3,249.1 |  |  | 3,125.9 |
CWIP |  | 82.5 |  |  | 157.4 |
Net non-utility and other property, plant, and equipment |  | 3,331.6 |  |  | 3,283.3 |
Total property, plant, and equipment |  | $ | 22,000.9 |  |  | $ | 21,347.0 |
Wisconsin Segment Plant to be Retired We have evaluated future plans for our older and less efficient fossil fuel generating units and have either retired or announced the retirement of the plants identified below. In December 2017, a severance liability in the amount of $29.4 million was recorded in other current liabilities on our balance sheets within the Wisconsin segment related to these plant retirements.
(in millions) |  |
Severance liability at December 31, 2017 |  | $ | 29.4 |
Severance payments |  | (10.7 | )
Other |  | (3.0 | )
Total severance liability at December 31, 2018 |  | $ | 15.7 |
Pleasant Prairie Power Plant The Pleasant Prairie power plant was retired effective April 10, 2018. The carrying value of this plant was $645.9 million at December 31, 2018. This amount included the net book value of $749.5 million, which was classified as a regulatory asset on our balance sheet. In addition, a $103.6 million cost of removal reserve related to the Pleasant Prairie power plant was classified as a regulatory liability at December 31, 2018. WE continues to amortize this regulatory asset on a straight-line basis using the composite depreciation rates approved by the PSCW before this plant was retired. Amortization is included in depreciation and amortization in the income statement. WE has FERC approval to continue to collect the carrying value of the Pleasant Prairie power plant using the approved composite depreciation rates, in addition to a return on the remaining carrying value. However, this approval is subject to refund while the FERC completes its prudency review. WE will address the accounting and regulatory treatment related to the retirement of Pleasant Prairie with the PSCW in conjunction with its anticipated 2019 rate case. The physical dismantlement of the plant will not occur immediately. It may take several years to finalize long-term plans for the site. See Note 22, Commitments and Contingencies, for more information. Presque Isle Power Plant In October 2017, the MPSC approved UMERC’s application to construct and operate approximately 180 MW of natural gas-fired generation in the Upper Peninsula of Michigan. Upon receiving this approval, retirement of the PIPP generating units became probable. Pursuant to MISO's April 2018 approval of the retirement of the plant, the PIPP units are required to be retired on or before May 31, 2019. The carrying value of the PIPP units was $174.8 million at December 31, 2018. This amount included net book value of $185.4 million, which was classified as plant to be retired within property, plant, and equipment on our balance sheet. In addition, a $10.6 million cost of removal reserve related to the PIPP units was classified as a regulatory liability at December 31, 2018. These units are included in rate base, and WE continues to depreciate them on a straight-line basis using the composite depreciation rates approved by the PSCW. Upon retirement of PIPP, WE will file with the FERC for approval to continue to collect the carrying value of the PIPP using the current approved composite depreciation rates, in addition to a return on the remaining carrying value. WE will address the accounting and regulatory treatment related to the retirement of the PIPP with the PSCW in conjunction with its anticipated 2019 Wisconsin rate case, and also expects that the retirement will be addressed by the MPSC. See Note 24, Regulatory Environment, for more information regarding the new natural gas-fired generation. Pulliam Power Plant In connection with a MISO ruling, WPS retired Pulliam Units 7 and 8 effective October 21, 2018. The carrying value of the Pulliam units was $33.8 million at December 31, 2018. This amount included the net book value of $57.2 million, which was classified as a regulatory asset on our balance sheet. In addition, a $23.4 million cost of removal reserve related to the Pulliam units was classified as a regulatory liability at December 31, 2018. WPS continues to amortize this regulatory asset on a straight-line basis using the composite depreciation rates approved by the PSCW before these generating units were retired. Amortization is included in depreciation and amortization in the income statement. WPS has FERC approval to continue to collect the carrying value of the Pulliam power plant using the approved composite depreciation rates, in addition to a return on the remaining carrying value. FERC has completed its prudency review of Pulliam, concluding that the retirement of this plant was prudent. WPS will address the accounting and regulatory treatment related to the retirement of the Pulliam power plant with the PSCW in conjunction with its anticipated 2019 rate case. See Note 22, Commitments and Contingencies, for more information. Edgewater Unit 4 The Edgewater 4 generating unit was retired effective September 28, 2018. The carrying value of the generating unit was $8.1 million at December 31, 2018. This amount included the net book value of WPS's ownership share of this generating unit of $10.0 million, which was classified as a regulatory asset on our balance sheet. In addition, a $1.9 million cost of removal reserve related to the Edgewater 4 generating unit was classified as a regulatory liability at December 31, 2018. WPS continues to amortize this regulatory asset on a straight-line basis using the composite depreciation rates approved by the PSCW before this generating unit was retired. Amortization is included in depreciation and amortization in the income statement. WPS has FERC approval to continue to collect the carrying value of the Edgewater 4 generating unit using the approved composite depreciation rates, in addition to a return on the remaining carrying value. FERC has completed its prudency review of Edgewater 4, concluding that the retirement of this plant was prudent. WPS will address the accounting and regulatory treatment related to the retirement of the Edgewater 4 generating unit with the PSCW in conjunction with its anticipated 2019 rate case. See Note 22, Commitments and Contingencies, for more information.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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