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v3.25.1

REGULATORY ASSETS AND LIABILITIES (Tables) | 3 Months Ended
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Mar. 31, 2025
Regulatory Assets and Liabilities Disclosure [Abstract] |
Schedule of regulatory assets |
(in millions) |  | March 31, 2025 |  | December 31, 2024
Regulatory assets |  |  |  |
Plant retirement related items |  | $ | 820.8 |  |  | $ | 810.5 |
Pension and OPEB costs |  | 660.4 |  |  | 684.9 |
Environmental remediation costs |  | 540.7 |  |  | 570.1 |
Income tax related items |  | 446.3 |  |  | 438.5 |
AROs |  | 170.3 |  |  | 166.7 |
Uncollectible expense |  | 133.4 |  |  | 151.5 |
Decoupling |  | 129.1 |  |  | 110.0 |
System support resource |  | 100.4 |  |  | 102.9 |
Securitization |  | 74.3 |  |  | 76.5 |
Energy costs recoverable through rate adjustments |  | 72.2 |  |  | 8.3 |
Bluewater |  | 55.1 |  |  | 57.7 |
Finance and operating leases |  | 26.0 |  |  | 22.0 |
Energy efficiency programs |  | 17.3 |  |  | 26.5 |
Derivatives |  | 7.7 |  |  | 38.2 |
Other, net |  | 113.8 |  |  | 114.4 |
Total regulatory assets |  | $ | 3,367.8 |  |  | $ | 3,378.7 |
Balance sheet presentation |  |  |  |
Other current assets |  | $ | 84.5 |  |  | $ | 39.0 |
Regulatory assets |  | 3,283.3 |  |  | 3,339.7 |
Total regulatory assets |  | $ | 3,367.8 |  |  | $ | 3,378.7 |
Schedule of regulatory liabilities |
(in millions) |  | March 31, 2025 |  | December 31, 2024
Regulatory liabilities |  |  |  |
Income tax related items |  | $ | 1,810.7 |  |  | $ | 1,825.4 |
Removal costs |  | 1,492.2 |  |  | 1,458.2 |
Pension and OPEB benefits |  | 302.1 |  |  | 308.5 |
Energy costs refundable through rate adjustments |  | 224.9 |  |  | 160.8 |
Derivatives |  | 94.8 |  |  | 36.9 |
Uncollectible expense |  | 45.7 |  |  | 47.2 |
Revenue requirements of renewable generation facilities |  | 42.5 |  |  | 44.2 |
Property tax (1) |  | 19.6 |  |  | 19.3 |
Electric transmission costs |  | 16.2 |  |  | 19.7 |
Other, net |  | 94.7 |  |  | 83.1 |
Total regulatory liabilities |  | $ | 4,143.4 |  |  | $ | 4,003.3 |
Balance sheet presentation |  |  |  |
Other current liabilities |  | $ | 99.5 |  |  | $ | 45.3 |
Regulatory liabilities |  | 4,043.9 |  |  | 3,958.0 |
Total regulatory liabilities |  | $ | 4,143.4 |  |  | $ | 4,003.3 |
(1)In accordance with MERC's property tax tracker, MERC defers as a regulatory asset or liability the difference between actual property tax expense and the amount included in rates until recovery or refund is authorized in a future rate proceeding.

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- Definition Tabular disclosure of assets that are created when regulatory agencies permit public utilities to defer certain costs included in rate-setting to the balance sheet. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 980 -SubTopic 340 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478742/980-340-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 980 -SubTopic 715 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478574/980-715-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 980 -SubTopic 340 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478742/980-340-50-2 + Details
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- Definition Tabular disclosure of regulatory liabilities. Detailed information about liabilities that result from rate actions of a regulator. Rate actions of a regulator can impose a liability on a regulated enterprise resulting in a regulatory liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 980 -SubTopic 405 -Name Accounting Standards Codification -Section 25 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477571/980-405-25-1 + Details
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