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v3.25.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2025
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 months ended March 31, 2025 and 2024:
|  | 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 March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 2,059.9 |  |  | $ | 788.3 |  |  | $ | 227.1 |  |  | $ | 3,075.3 |  |  | $ | — |  |  | $ | 74.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,149.5 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 120.1 |  |  | — |  |  | (120.1) |  |  | — |
Fuel and purchased power |  | 390.3 |  |  | — |  |  | — |  |  | 390.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 390.3 |
Cost of natural gas sold |  | 378.5 |  |  | 288.2 |  |  | 117.6 |  |  | 784.3 |  |  | — |  |  | 4.5 |  |  | — |  |  | (13.4) |  |  | 775.4 |
Other operation and maintenance |  | 415.1 |  |  | 146.9 |  |  | 28.7 |  |  | 590.7 |  |  | — |  |  | 22.1 |  |  | (3.2) |  |  | (1.6) |  |  | 608.0 |
Depreciation and amortization |  | 243.6 |  |  | 64.4 |  |  | 12.2 |  |  | 320.2 |  |  | — |  |  | 58.2 |  |  | 5.4 |  |  | (23.9) |  |  | 359.9 |
Property and revenue taxes |  | 46.0 |  |  | 20.4 |  |  | 6.5 |  |  | 72.9 |  |  | — |  |  | 5.4 |  |  | 0.1 |  |  | — |  |  | 78.4 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 53.6 |  |  | — |  |  | — |  |  | — |  |  | 53.6 |
Other income, net (1) |  | 17.6 |  |  | 2.1 |  |  | 0.1 |  |  | 19.8 |  |  | — |  |  | 0.7 |  |  | 5.0 |  |  | (7.4) |  |  | 18.1 |
Interest expense |  | 161.8 |  |  | 23.2 |  |  | 4.3 |  |  | 189.3 |  |  | 4.8 |  |  | 30.6 |  |  | 86.9 |  |  | (88.6) |  |  | 223.0 |
Income tax expense (benefit) |  | 82.0 |  |  | 69.2 |  |  | 14.8 |  |  | 166.0 |  |  | 11.9 |  |  | (35.6) |  |  | (81.6) |  |  | — |  |  | 60.7 |
Preferred stock dividends of subsidiary |  | 0.3 |  |  | — |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.3 |
Net income attributed to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1.0) |  |  | — |  |  | — |  |  | (1.0) |
Net income (loss) attributed to common shareholders |  | $ | 359.9 |  |  | $ | 178.1 |  |  | $ | 43.1 |  |  | $ | 581.1 |  |  | $ | 36.9 |  |  | $ | 108.8 |  |  | $ | (2.6) |  |  | $ | — |  |  | $ | 724.2 |
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures and asset acquisitions |  | $ | 616.9 |  |  | $ | 53.8 |  |  | $ | 17.8 |  |  | $ | 688.5 |  |  | $ | — |  |  | $ | 414.6 |  |  | $ | 4.1 |  |  | $ | — |  |  | $ | 1,107.2 |
Equity method investments |  | 16.3 |  |  | — |  |  | — |  |  | 16.3 |  |  | 2,149.0 |  |  | — |  |  | 68.6 |  |  | — |  |  | 2,233.9 |
Total assets (2) |  | 30,836.9 |  |  | 8,344.2 |  |  | 1,638.1 |  |  | 40,819.2 |  |  | 2,159.4 |  |  | 7,886.4 |  |  | 1,243.2 |  |  | (3,876.1) |  |  | 48,232.1 |
(1)Includes amounts that are not material for interest income and other equity earnings from investments other than from transmission affiliates. (2) Total assets at March 31, 2025 reflect an elimination of $2,648.6 million for all lease activity between We Power and WE.
|  | 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 March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 1,778.8 |  |  | $ | 666.0 |  |  | $ | 184.6 |  |  | $ | 2,629.4 |  |  | $ | — |  |  | $ | 50.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,680.2 |
Intersegment revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 120.1 |  |  | — |  |  | (120.1) |  |  | — |
Fuel and purchased power |  | 349.2 |  |  | — |  |  | — |  |  | 349.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 349.2 |
Cost of natural gas sold |  | 301.8 |  |  | 194.7 |  |  | 90.8 |  |  | 587.3 |  |  | — |  |  | 4.8 |  |  | — |  |  | (14.2) |  |  | 577.9 |
Other operation and maintenance |  | 389.9 |  |  | 107.0 |  |  | 20.6 |  |  | 517.5 |  |  | — |  |  | 18.2 |  |  | (3.4) |  |  | (1.5) |  |  | 530.8 |
Depreciation and amortization |  | 224.6 |  |  | 63.5 |  |  | 11.4 |  |  | 299.5 |  |  | — |  |  | 49.1 |  |  | 5.6 |  |  | (20.8) |  |  | 333.4 |
Property and revenue taxes |  | 47.3 |  |  | 18.1 |  |  | 6.2 |  |  | 71.6 |  |  | — |  |  | 3.8 |  |  | 0.1 |  |  | — |  |  | 75.5 |
Equity in earnings of transmission affiliates |  | — |  |  | — |  |  | — |  |  | — |  |  | 44.8 |  |  | — |  |  | — |  |  | — |  |  | 44.8 |
Other income, net (1) |  | 33.4 |  |  | 1.9 |  |  | — |  |  | 35.3 |  |  | — |  |  | — |  |  | 15.5 |  |  | (6.7) |  |  | 44.1 |
Interest expense |  | 157.8 |  |  | 25.0 |  |  | 4.0 |  |  | 186.8 |  |  | 4.8 |  |  | 24.1 |  |  | 66.6 |  |  | (90.3) |  |  | 192.0 |
Income tax expense (benefit) |  | 74.9 |  |  | 72.1 |  |  | 13.0 |  |  | 160.0 |  |  | 9.9 |  |  | (23.4) |  |  | (58.8) |  |  | — |  |  | 87.7 |
Preferred stock dividends of subsidiary |  | 0.3 |  |  | — |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.3 |
Net income attributed to common shareholders |  | $ | 266.4 |  |  | $ | 187.5 |  |  | $ | 38.6 |  |  | $ | 492.5 |  |  | $ | 30.1 |  |  | $ | 94.3 |  |  | $ | 5.4 |  |  | $ | — |  |  | $ | 622.3 |
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures and asset acquisitions |  | $ | 330.8 |  |  | $ | 75.7 |  |  | $ | 18.1 |  |  | $ | 424.6 |  |  | $ | — |  |  | $ | 17.3 |  |  | $ | 2.6 |  |  | $ | — |  |  | $ | 444.5 |
Equity method investments |  | 14.5 |  |  | — |  |  | — |  |  | 14.5 |  |  | 2,027.1 |  |  | — |  |  | 65.2 |  |  | — |  |  | 2,106.8 |
Total assets (2) |  | 28,546.7 |  |  | 7,956.4 |  |  | 1,557.4 |  |  | 38,060.5 |  |  | 2,027.2 |  |  | 6,320.8 |  |  | 1,114.2 |  |  | (3,595.5) |  |  | 43,927.2 |
(1)Includes amounts that are not material for interest income and other equity earnings from investments other than from transmission affiliates. (2) Total assets at March 31, 2024 reflect an elimination of $2,719.3 million for all lease activity between We Power and WE.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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