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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of information concerning our reportable segments | The following tables show summarized financial information related to our reportable segments for the years ended December 31, 2023, 2022, and 2021.
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
2023 (in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy Infrastructure |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
External revenues |  | $ | 6,625.9 |  |  | $ | 1,557.8 |  |  | $ | 519.1 |  |  | $ | 8,702.8 |  |  | $ | — |  |  | $ | 190.1 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 8,893.0 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 476.4 |  |  | — |  |  | (476.4) |  |  | — |
Other operation and maintenance |  | 1,531.3 |  |  | 397.9 |  |  | 94.5 |  |  | 2,023.7 |  |  | — |  |  | 80.1 |  |  | 5.8 |  |  | (9.1) |  |  | 2,100.5 |
Impairment related to ICC disallowances |  | — |  |  | 178.9 |  |  | — |  |  | 178.9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 178.9 |
Depreciation and amortization |  | 851.5 |  |  | 237.3 |  |  | 43.3 |  |  | 1,132.1 |  |  | — |  |  | 188.7 |  |  | 20.9 |  |  | (77.5) |  |  | 1,264.2 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 177.5 |  |  | — |  |  | — |  |  | — |  |  | 177.5 |
Interest expense |  | 601.0 |  |  | 88.9 |  |  | 15.9 |  |  | 705.8 |  |  | 19.4 |  |  | 94.3 |  |  | 257.6 |  |  | (350.2) |  |  | 726.9 |
Income tax expense (benefit) |  | 237.4 |  |  | 48.6 |  |  | 16.3 |  |  | 302.3 |  |  | 39.0 |  |  | (68.4) |  |  | (68.3) |  |  | — |  |  | 204.6 |
Net income (loss) |  | 852.5 |  |  | 140.0 |  |  | 48.1 |  |  | 1,040.6 |  |  | 119.1 |  |  | 334.8 |  |  | (162.8) |  |  | — |  |  | 1,331.7 |
Net income (loss) attributed to common shareholders |  | 851.3 |  |  | 140.0 |  |  | 48.1 |  |  | 1,039.4 |  |  | 119.1 |  |  | 336.0 |  |  | (162.8) |  |  | — |  |  | 1,331.7 |
Capital expenditures and asset acquisitions |  | 2,134.4 |  |  | 489.8 |  |  | 103.5 |  |  | 2,727.7 |  |  | — |  |  | 754.4 |  |  | 25.8 |  |  | — |  |  | 3,507.9 |
Total assets (1) |  | 28,527.3 |  |  | 7,970.2 |  |  | 1,571.5 |  |  | 38,069.0 |  |  | 2,006.0 |  |  | 6,404.7 |  |  | 1,100.1 |  |  | (3,640.1) |  |  | 43,939.7 |
(1) Total assets at December 31, 2023 reflect an elimination of $1,630.6 million for all lease activity between We Power and WE.
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
2022 (in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy Infrastructure |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
External revenues |  | $ | 6,960.5 |  |  | $ | 1,890.9 |  |  | $ | 618.5 |  |  | $ | 9,469.9 |  |  | $ | — |  |  | $ | 127.0 |  |  | $ | 0.5 |  |  | $ | — |  |  | $ | 9,597.4 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 463.0 |  |  | — |  |  | (463.0) |  |  | — |
Other operation and maintenance |  | 1,351.3 |  |  | 459.2 |  |  | 98.5 |  |  | 1,909.0 |  |  | — |  |  | 51.0 |  |  | (12.9) |  |  | (9.1) |  |  | 1,938.0 |
Depreciation and amortization |  | 754.7 |  |  | 230.9 |  |  | 40.9 |  |  | 1,026.5 |  |  | — |  |  | 139.2 |  |  | 25.0 |  |  | (68.1) |  |  | 1,122.6 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 194.7 |  |  | — |  |  | — |  |  | — |  |  | 194.7 |
Interest expense |  | 555.9 |  |  | 73.8 |  |  | 13.9 |  |  | 643.6 |  |  | 19.4 |  |  | 68.9 |  |  | 119.4 |  |  | (336.2) |  |  | 515.1 |
Income tax expense (benefit) |  | 247.5 |  |  | 83.1 |  |  | 13.1 |  |  | 343.7 |  |  | 45.8 |  |  | (20.9) |  |  | (45.7) |  |  | — |  |  | 322.9 |
Net income (loss) |  | 759.6 |  |  | 226.9 |  |  | 39.7 |  |  | 1,026.2 |  |  | 129.5 |  |  | 324.8 |  |  | (70.8) |  |  | — |  |  | 1,409.7 |
Net income (loss) attributed to common shareholders |  | 758.4 |  |  | 226.9 |  |  | 39.7 |  |  | 1,025.0 |  |  | 129.5 |  |  | 324.4 |  |  | (70.8) |  |  | — |  |  | 1,408.1 |
Capital expenditures and asset acquisitions |  | 1,610.8 |  |  | 484.9 |  |  | 101.1 |  |  | 2,196.8 |  |  | — |  |  | 483.8 |  |  | 16.3 |  |  | — |  |  | 2,696.9 |
Total assets (1) |  | 27,384.0 |  |  | 8,101.0 |  |  | 1,639.6 |  |  | 37,124.6 |  |  | 1,909.4 |  |  | 5,320.6 |  |  | 774.0 |  |  | (3,256.5) |  |  | 41,872.1 |
(1) Total assets at December 31, 2022 reflect an elimination of $1,632.9 million for all lease activity between We Power and WE.
|  | Utility Operations |  |  |  |  |  |  |  |  |  |
2021 (in millions) |  | Wisconsin |  | Illinois |  | Other States |  | Total Utility Operations |  | Electric Transmission |  | Non-Utility Energy Infrastructure |  | Corporate and Other |  | Reconciling Eliminations |  | WEC Energy Group Consolidated
External revenues |  | $ | 6,037.0 |  |  | $ | 1,672.8 |  |  | $ | 519.0 |  |  | $ | 8,228.8 |  |  | $ | — |  |  | $ | 86.7 |  |  | $ | 0.5 |  |  | $ | — |  |  | $ | 8,316.0 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 452.8 |  |  | — |  |  | (452.8) |  |  | — |
Other operation and maintenance |  | 1,455.2 |  |  | 433.5 |  |  | 90.4 |  |  | 1,979.1 |  |  | — |  |  | 43.1 |  |  | (7.5) |  |  | (9.2) |  |  | 2,005.5 |
Depreciation and amortization |  | 726.9 |  |  | 218.1 |  |  | 38.1 |  |  | 983.1 |  |  | — |  |  | 125.3 |  |  | 25.9 |  |  | (60.0) |  |  | 1,074.3 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 158.1 |  |  | — |  |  | — |  |  | — |  |  | 158.1 |
Interest expense |  | 555.6 |  |  | 66.6 |  |  | 6.2 |  |  | 628.4 |  |  | 19.4 |  |  | 71.0 |  |  | 92.8 |  |  | (340.5) |  |  | 471.1 |
Loss on debt extinguishment |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36.3 |  |  | — |  |  | 36.3 |
Income tax expense (benefit) |  | 119.9 |  |  | 79.3 |  |  | 11.5 |  |  | 210.7 |  |  | 32.3 |  |  | 3.1 |  |  | (45.8) |  |  | — |  |  | 200.3 |
Net income (loss) |  | 707.7 |  |  | 223.0 |  |  | 35.8 |  |  | 966.5 |  |  | 106.3 |  |  | 276.2 |  |  | (50.5) |  |  | — |  |  | 1,298.5 |
Net income (loss) attributed to common shareholders |  | 706.5 |  |  | 223.0 |  |  | 35.8 |  |  | 965.3 |  |  | 106.3 |  |  | 279.2 |  |  | (50.5) |  |  | — |  |  | 1,300.3 |
Capital expenditures and asset acquisitions |  | 1,389.7 |  |  | 533.7 |  |  | 95.9 |  |  | 2,019.3 |  |  | — |  |  | 335.3 |  |  | 18.1 |  |  | — |  |  | 2,372.7 |
Total assets (1) |  | 25,687.9 |  |  | 7,853.4 |  |  | 1,506.1 |  |  | 35,047.4 |  |  | 1,792.7 |  |  | 4,627.7 |  |  | 785.3 |  |  | (3,264.6) |  |  | 38,988.5 |
(1) Total assets at December 31, 2021 reflect an elimination of $1,729.9 million for all lease activity between We Power and WE.

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