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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION We use operating income to measure segment profitability and to allocate resources to our businesses. At June 30, 2019, we reported six segments, which are described below.
• | The Wisconsin segment includes the electric and natural gas utility operations of WE, WG, WPS, and UMERC.
• | 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, transmission-only company regulated by the FERC for cost of service and certain state regulatory commissions for routing and siting of transmission projects, and our approximate 75% ownership interest in ATC Holdco, which invests in transmission-related projects outside of ATC's traditional footprint.
• | The non-utility energy infrastructure segment includes:
◦ | We Power, which owns and leases generating facilities to WE,
◦ | Bluewater, which owns underground natural gas storage facilities in Michigan that provide approximately one-third of the current storage needs for our Wisconsin natural gas utilities,
◦ | Our 90% membership interest in Bishop Hill III, a wind generating facility located in Henry County, Illinois,
◦ | Our 80% membership interest in Coyote Ridge, a wind generating facility under construction in Brookings County, South Dakota, and
◦ | Our 80% membership interest in Upstream, a wind generating facility located in Antelope County, Nebraska.
See Note 2, Acquisitions, for more information on Bishop Hill III, Coyote Ridge, and Upstream.
• | 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, Wisvest LLC, Wisconsin Energy Capital Corporation, WEC Business Services LLC, and PDL.
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, 2019 and 2018:
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy Infrastructure |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
Three Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,253.3 |  |  | $ | 242.9 |  |  | $ | 68.8 |  |  | $ | 1,565.0 |  |  | $ | — |  |  | $ | 24.3 |  |  | $ | 0.9 |  |  | $ | — |  |  | $ | 1,590.2 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 99.0 |  |  | — |  |  | (99.0 | ) |  | — |
Other operation and maintenance |  | 363.9 |  |  | 107.0 |  |  | 23.4 |  |  | 494.3 |  |  | — |  |  | 6.8 |  |  | 1.8 |  |  | 0.7 |  |  | 503.6 |
Depreciation and amortization |  | 152.9 |  |  | 45.0 |  |  | 6.7 |  |  | 204.6 |  |  | — |  |  | 22.9 |  |  | 6.0 |  |  | (3.6 | ) |  | 229.9 |
Operating income (loss) |  | 270.2 |  |  | 42.6 |  |  | 4.6 |  |  | 317.4 |  |  | — |  |  | 91.3 |  |  | (7.1 | ) |  | (87.0 | ) |  | 314.6 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 36.9 |  |  | — |  |  | — |  |  | — |  |  | 36.9 |
Interest expense |  | 142.7 |  |  | 13.9 |  |  | 1.9 |  |  | 158.5 |  |  | 2.7 |  |  | 15.5 |  |  | 36.5 |  |  | (89.1 | ) |  | 124.1 |
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy Infrastructure |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
Three Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,325.5 |  |  | $ | 268.0 |  |  | $ | 72.4 |  |  | $ | 1,665.9 |  |  | $ | — |  |  | $ | 3.5 |  |  | $ | 3.1 |  |  | $ | — |  |  | $ | 1,672.5 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 113.5 |  |  | — |  |  | (113.5 | ) |  | — |
Other operation and maintenance |  | 502.4 |  |  | 104.1 |  |  | 24.9 |  |  | 631.4 |  |  | — |  |  | 4.5 |  |  | 2.2 |  |  | (100.4 | ) |  | 537.7 |
Depreciation and amortization |  | 134.6 |  |  | 41.8 |  |  | 4.5 |  |  | 180.9 |  |  | — |  |  | 18.3 |  |  | 7.5 |  |  | — |  |  | 206.7 |
Operating income (loss) |  | 195.1 |  |  | 41.7 |  |  | 8.1 |  |  | 244.9 |  |  | — |  |  | 92.4 |  |  | (6.5 | ) |  | — |  |  | 330.8 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 28.7 |  |  | — |  |  | — |  |  | — |  |  | 28.7 |
Interest expense |  | 48.5 |  |  | 12.3 |  |  | 2.1 |  |  | 62.9 |  |  | — |  |  | 16.0 |  |  | 30.3 |  |  | (0.7 | ) |  | 108.5 |
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy Infrastructure |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
Six Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,886.7 |  |  | $ | 779.4 |  |  | $ | 254.0 |  |  | $ | 3,920.1 |  |  | $ | — |  |  | $ | 44.9 |  |  | $ | 2.6 |  |  | $ | — |  |  | $ | 3,967.6 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 206.2 |  |  | — |  |  | (206.2 | ) |  | — |
Other operation and maintenance |  | 756.6 |  |  | 235.2 |  |  | 51.0 |  |  | 1,042.8 |  |  | — |  |  | 10.6 |  |  | 0.8 |  |  | — |  |  | 1,054.2 |
Depreciation and amortization |  | 303.9 |  |  | 89.5 |  |  | 13.2 |  |  | 406.6 |  |  | — |  |  | 45.5 |  |  | 12.4 |  |  | (8.2 | ) |  | 456.3 |
Operating income (loss) |  | 632.0 |  |  | 180.5 |  |  | 46.1 |  |  | 858.6 |  |  | — |  |  | 184.0 |  |  | (11.0 | ) |  | (174.2 | ) |  | 857.4 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 73.0 |  |  | — |  |  | — |  |  | — |  |  | 73.0 |
Interest expense |  | 286.1 |  |  | 28.7 |  |  | 4.2 |  |  | 319.0 |  |  | 5.3 |  |  | 31.2 |  |  | 71.6 |  |  | (178.6 | ) |  | 248.5 |
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy Infrastructure |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
Six Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,914.6 |  |  | $ | 775.3 |  |  | $ | 242.3 |  |  | $ | 3,932.2 |  |  | $ | — |  |  | $ | 22.3 |  |  | $ | 4.5 |  |  | $ | — |  |  | $ | 3,959.0 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 212.8 |  |  | — |  |  | (212.8 | ) |  | — |
Other operation and maintenance |  | 970.9 |  |  | 216.3 |  |  | 51.5 |  |  | 1,238.7 |  |  | — |  |  | 6.2 |  |  | 1.9 |  |  | (197.2 | ) |  | 1,049.6 |
Depreciation and amortization |  | 269.7 |  |  | 82.7 |  |  | 11.1 |  |  | 363.5 |  |  | — |  |  | 36.6 |  |  | 15.2 |  |  | — |  |  | 415.3 |
Operating income (loss) |  | 468.8 |  |  | 189.3 |  |  | 44.3 |  |  | 702.4 |  |  | — |  |  | 185.4 |  |  | (11.9 | ) |  | — |  |  | 875.9 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 61.5 |  |  | — |  |  | — |  |  | — |  |  | 61.5 |
Interest expense |  | 97.9 |  |  | 24.6 |  |  | 4.2 |  |  | 126.7 |  |  | — |  |  | 32.1 |  |  | 58.3 |  |  | (1.9 | ) |  | 215.2 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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