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v3.24.2

SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of financial information related to our reportable segments | The following tables show summarized financial information related to our reportable segments for the three and six months ended June 30, 2024 and 2023:
|  | 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, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,368.2 |  |  | $ | 276.8 |  |  | $ | 71.0 |  |  | $ | 1,716.0 |  |  | $ | — |  |  | $ | 56.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,772.0 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 119.6 |  |  | — |  |  | (119.6) |  |  | — |
Other operation and maintenance |  | 389.2 |  |  | 102.6 |  |  | 24.6 |  |  | 516.4 |  |  | — |  |  | 25.0 |  |  | (4.0) |  |  | (4.0) |  |  | 533.4 |
Depreciation and amortization |  | 228.3 |  |  | 63.7 |  |  | 11.5 |  |  | 303.5 |  |  | — |  |  | 49.6 |  |  | 5.4 |  |  | (21.9) |  |  | 336.6 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 46.8 |  |  | — |  |  | — |  |  | — |  |  | 46.8 |
Interest expense |  | 157.3 |  |  | 23.5 |  |  | 4.0 |  |  | 184.8 |  |  | 4.9 |  |  | 24.1 |  |  | 76.5 |  |  | (89.7) |  |  | 200.6 |
Income tax expense (benefit) |  | 34.4 |  |  | 10.2 |  |  | 0.3 |  |  | 44.9 |  |  | 10.5 |  |  | (20.2) |  |  | 6.4 |  |  | — |  |  | 41.6 |
Net income (loss) |  | 132.4 |  |  | 25.7 |  |  | 0.6 |  |  | 158.7 |  |  | 31.4 |  |  | 91.7 |  |  | (71.8) |  |  | — |  |  | 210.0 |
Net income (loss) attributed to common shareholders |  | 132.1 |  |  | 25.7 |  |  | 0.6 |  |  | 158.4 |  |  | 31.4 |  |  | 93.3 |  |  | (71.8) |  |  | — |  |  | 211.3 |
|  | 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, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,424.5 |  |  | $ | 273.5 |  |  | $ | 81.9 |  |  | $ | 1,779.9 |  |  | $ | — |  |  | $ | 50.0 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 1,830.0 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 119.0 |  |  | — |  |  | (119.0) |  |  | — |
Other operation and maintenance |  | 351.8 |  |  | 105.3 |  |  | 21.8 |  |  | 478.9 |  |  | — |  |  | 20.3 |  |  | 0.7 |  |  | (3.9) |  |  | 496.0 |
Depreciation and amortization |  | 210.3 |  |  | 58.5 |  |  | 10.6 |  |  | 279.4 |  |  | — |  |  | 48.4 |  |  | 5.2 |  |  | (19.1) |  |  | 313.9 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 43.6 |  |  | — |  |  | — |  |  | — |  |  | 43.6 |
Interest expense |  | 150.1 |  |  | 21.4 |  |  | 4.1 |  |  | 175.6 |  |  | 4.8 |  |  | 25.1 |  |  | 62.0 |  |  | (88.8) |  |  | 178.7 |
Income tax expense (benefit) |  | 53.6 |  |  | 10.9 |  |  | 1.3 |  |  | 65.8 |  |  | 9.7 |  |  | (19.7) |  |  | (7.3) |  |  | — |  |  | 48.5 |
Net income (loss) |  | 185.9 |  |  | 30.1 |  |  | 3.7 |  |  | 219.7 |  |  | 29.1 |  |  | 85.9 |  |  | (44.7) |  |  | — |  |  | 290.0 |
Net income (loss) attributed to common shareholders |  | 185.6 |  |  | 30.1 |  |  | 3.7 |  |  | 219.4 |  |  | 29.1 |  |  | 85.9 |  |  | (44.7) |  |  | — |  |  | 289.7 |
|  | 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, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 3,147.0 |  |  | $ | 942.8 |  |  | $ | 255.6 |  |  | $ | 4,345.4 |  |  | $ | — |  |  | $ | 106.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,452.2 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 239.7 |  |  | — |  |  | (239.7) |  |  | — |
Other operation and maintenance |  | 779.1 |  |  | 209.6 |  |  | 45.2 |  |  | 1,033.9 |  |  | — |  |  | 43.2 |  |  | (7.4) |  |  | (5.5) |  |  | 1,064.2 |
Depreciation and amortization |  | 452.9 |  |  | 127.2 |  |  | 22.9 |  |  | 603.0 |  |  | — |  |  | 98.7 |  |  | 11.0 |  |  | (42.7) |  |  | 670.0 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 91.6 |  |  | — |  |  | — |  |  | — |  |  | 91.6 |
Interest expense |  | 315.1 |  |  | 48.5 |  |  | 8.0 |  |  | 371.6 |  |  | 9.7 |  |  | 48.2 |  |  | 143.1 |  |  | (180.0) |  |  | 392.6 |
Income tax expense (benefit) |  | 109.3 |  |  | 82.3 |  |  | 13.3 |  |  | 204.9 |  |  | 20.4 |  |  | (43.6) |  |  | (52.4) |  |  | — |  |  | 129.3 |
Net income (loss) |  | 399.1 |  |  | 213.2 |  |  | 39.2 |  |  | 651.5 |  |  | 61.5 |  |  | 186.0 |  |  | (66.4) |  |  | — |  |  | 832.6 |
Net income (loss) attributed to common shareholders |  | 398.5 |  |  | 213.2 |  |  | 39.2 |  |  | 650.9 |  |  | 61.5 |  |  | 187.6 |  |  | (66.4) |  |  | — |  |  | 833.6 |
|  | 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, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 3,420.8 |  |  | $ | 873.2 |  |  | $ | 331.9 |  |  | $ | 4,625.9 |  |  | $ | — |  |  | $ | 92.1 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 4,718.1 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 243.1 |  |  | — |  |  | (243.1) |  |  | — |
Other operation and maintenance |  | 732.6 |  |  | 219.0 |  |  | 46.5 |  |  | 998.1 |  |  | — |  |  | 38.1 |  |  | (0.7) |  |  | (5.5) |  |  | 1,030.0 |
Depreciation and amortization |  | 417.6 |  |  | 117.0 |  |  | 21.0 |  |  | 555.6 |  |  | — |  |  | 91.1 |  |  | 10.3 |  |  | (37.6) |  |  | 619.4 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 87.4 |  |  | — |  |  | — |  |  | — |  |  | 87.4 |
Interest expense |  | 300.7 |  |  | 43.0 |  |  | 8.3 |  |  | 352.0 |  |  | 9.6 |  |  | 45.0 |  |  | 117.6 |  |  | (173.3) |  |  | 350.9 |
Income tax expense (benefit) |  | 119.5 |  |  | 52.9 |  |  | 12.5 |  |  | 184.9 |  |  | 19.4 |  |  | (37.5) |  |  | (44.2) |  |  | — |  |  | 122.6 |
Net income (loss) |  | 443.4 |  |  | 143.2 |  |  | 36.9 |  |  | 623.5 |  |  | 58.4 |  |  | 174.2 |  |  | (58.5) |  |  | — |  |  | 797.6 |
Net income (loss) attributed to common shareholders |  | 442.8 |  |  | 143.2 |  |  | 36.9 |  |  | 622.9 |  |  | 58.4 |  |  | 174.4 |  |  | (58.5) |  |  | — |  |  | 797.2 |

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