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v3.23.1

CREDIT LOSSES (Tables) | 3 Months Ended
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Mar. 31, 2023
Credit Loss [Abstract] |
Schedule of gross receivables and related allowances for credit losses | We have included tables below that show our gross third-party receivable balances and the related allowance for credit losses at March 31, 2023 and December 31, 2022, by reportable segment.
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Non-Utility Energy Infrastructure |  | Corporate and Other |  | WEC Energy Group Consolidated
March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable and unbilled revenues |  | $ | 1,232.2 |  |  | $ | 561.0 |  |  | $ | 143.5 |  |  | $ | 1,936.7 |  |  | $ | 50.0 |  |  | $ | 7.7 |  |  | $ | 1,994.4 |
Allowance for credit losses |  | 90.9 |  |  | 116.5 |  |  | 6.4 |  |  | 213.8 |  |  | — |  |  | — |  |  | 213.8 |
Accounts receivable and unbilled revenues, net (1) |  | $ | 1,141.3 |  |  | $ | 444.5 |  |  | $ | 137.1 |  |  | $ | 1,722.9 |  |  | $ | 50.0 |  |  | $ | 7.7 |  |  | $ | 1,780.6 |
Total accounts receivable, net – past due greater than 90 days (1) |  | $ | 67.9 |  |  | $ | 61.6 |  |  | $ | 1.7 |  |  | $ | 131.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 131.2 |
Past due greater than 90 days – collection risk mitigated by regulatory mechanisms (1) |  | 97.5 | % |  | 100.0 | % |  | — | % |  | 97.4 | % |  | — | % |  | — | % |  | 97.4 | %
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Non-Utility Energy Infrastructure |  | Corporate and Other |  | WEC Energy Group Consolidated
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable and unbilled revenues |  | $ | 1,199.4 |  |  | $ | 624.2 |  |  | $ | 164.4 |  |  | $ | 1,988.0 |  |  | $ | 25.4 |  |  | $ | 4.3 |  |  | $ | 2,017.7 |
Allowance for credit losses |  | 82.0 |  |  | 111.0 |  |  | 6.3 |  |  | 199.3 |  |  | — |  |  | — |  |  | 199.3 |
Accounts receivable and unbilled revenues, net (1) |  | $ | 1,117.4 |  |  | $ | 513.2 |  |  | $ | 158.1 |  |  | $ | 1,788.7 |  |  | $ | 25.4 |  |  | $ | 4.3 |  |  | $ | 1,818.4 |
Total accounts receivable, net – past due greater than 90 days (1) |  | $ | 51.9 |  |  | $ | 52.9 |  |  | $ | 1.9 |  |  | $ | 106.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 106.7 |
Past due greater than 90 days – collection risk mitigated by regulatory mechanisms (1) |  | 97.0 | % |  | 100.0 | % |  | — | % |  | 96.8 | % |  | — | % |  | — | % |  | 96.8 | %
(1)Our exposure to credit losses for certain regulated utility customers is mitigated by regulatory mechanisms we have in place. Specifically, rates related to all of the customers in our Illinois segment, as well as the residential rates of WE, WPS, and WG in our Wisconsin segment, include riders or other mechanisms for cost recovery or refund of uncollectible expense based on the difference between the actual provision for credit losses and the amounts recovered in rates. As a result, at March 31, 2023, $1,119.8 million, or 62.9%, of our net accounts receivable and unbilled revenues balance had regulatory protections in place to mitigate the exposure to credit losses.
Rollforward of the allowances for credit losses by reportable segment | A roll-forward of the allowance for credit losses by reportable segment is included below:
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | WEC Energy Group Consolidated
Balance at January 1, 2023 |  | $ | 82.0 |  |  | $ | 111.0 |  |  | $ | 6.3 |  |  | $ | 199.3 |
Provision for credit losses |  | 11.2 |  |  | 8.5 |  |  | 1.3 |  |  | 21.0 |
Provision for credit losses deferred for future recovery or refund |  | 20.4 |  |  | 15.2 |  |  | — |  |  | 35.6 |
Write-offs charged against the allowance |  | (28.9) |  |  | (23.0) |  |  | (1.6) |  |  | (53.5) |
Recoveries of amounts previously written off |  | 6.2 |  |  | 4.8 |  |  | 0.4 |  |  | 11.4 |
Balance at March 31, 2023 |  | $ | 90.9 |  |  | $ | 116.5 |  |  | $ | 6.4 |  |  | $ | 213.8 |
(in millions) |  | Wisconsin |  | Illinois |  | Other States |  | WEC Energy Group Consolidated
Balance at January 1, 2022 |  | $ | 84.0 |  |  | $ | 105.5 |  |  | $ | 8.8 |  |  | $ | 198.3 |
Provision for credit losses |  | 11.8 |  |  | 11.3 |  |  | 0.2 |  |  | 23.3 |
Provision for credit losses deferred for future recovery or refund |  | 8.8 |  |  | 12.1 |  |  | — |  |  | 20.9 |
Write-offs charged against the allowance |  | (28.8) |  |  | (27.3) |  |  | (1.4) |  |  | (57.5) |
Recoveries of amounts previously written off |  | 9.9 |  |  | 5.4 |  |  | 0.3 |  |  | 15.6 |
Balance at March 31, 2022 |  | $ | 85.7 |  |  | $ | 107.0 |  |  | $ | 7.9 |  |  | $ | 200.6 |

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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