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SEGMENT INFORMATION (Tables)

3 Months Ended

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.

X

- 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

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- References

No definition available.

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