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LONG-TERM DEBT
 3 Months Ended
Mar. 31, 2025
Long-Term Debt, Unclassified [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
WEC Energy Group, Inc.

Convertible Senior Notes

As of March 31, 2025, the conditions allowing holders to convert their notes were not met. In accordance with the guidance in ASC Subtopic 470-20, Debt – Debt with Conversion and Other Options, the 2027 Notes and 2029 Notes were accounted for in their entirety as a liability on our balance sheet. The following is a summary of our convertible debt instruments as of March 31, 2025:
(in millions)
Principal Amount
Unamortized Debt Issuance Costs
Net Carrying Amount
Fair Value Amount (1)
2027 Notes
$862.5 $(7.2)$855.3 $1,009.0 
2029 Notes
862.5 (8.3)854.2 1,029.2 

(1)    The fair values are categorized in Level 2 of the fair value hierarchy. See Note 13, Fair Value Measurements, for more information on the levels of the fair value hierarchy.

The following table provides a summary of the interest expense recorded for each of the 2027 Notes and 2029 Notes:
(in millions)Three Months Ended March 31, 2025
2027 Notes
Contractual interest expense
$9.4 
Amortization of debt issuance costs
0.8 
Total interest expense – 2027 Notes10.2 
2029 Notes
Contractual interest expense
9.4 
Amortization of debt issuance costs
0.5 
Total interest expense – 2029 Notes$9.9 

Minnesota Energy Resources Corporation

In April 2025, MERC issued $50.0 million of 5.20% Senior Notes, due May 1, 2030, and used the net proceeds to repay MERC's $50.0 million of 2.69% Senior Notes that matured on May 1, 2025.

Michigan Gas Utilities Corporation

In April 2025, MGU issued $75.0 million of 5.20% Senior Notes, due May 1, 2030, and used the net proceeds to repay MGU's $60.0 million of 2.69% Senior Notes that matured on May 1, 2025 and intercompany short-term debt to its parent, Integrys.