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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 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 September 30, 2025
External revenues						$	1,791.6					$	183.5					$	53.0					$	2,028.1					$	—					$	75.9					$	—					$	—					$	2,104.0
Intersegment revenues						—						—						—						—						—						117.4						—						(117.4)						—
Fuel and purchased power						502.4						—						—						502.4						—						—						—						—						502.4
Cost of natural gas sold						75.8						21.4						17.5						114.7						—						0.8						—						(9.8)						105.7
Other operation and maintenance						443.7						108.0						23.6						575.3						—						34.6						(3.2)						(1.6)						605.1
Depreciation and amortization						255.7						65.0						12.5						333.2						—						60.6						5.2						(25.6)						373.4
Property and revenue taxes						44.5						11.4						6.6						62.5						—						5.3						—						—						67.8
Equity in earnings of transmission affiliates						—						—						—						—						54.8						—						—						—						54.8
Other income, net (1)						25.0						2.1						0.1						27.2						—						0.8						3.7						(7.9)						23.8
Interest expense						158.9						21.8						5.0						185.7						4.8						30.5						90.9						(88.3)						223.6
Income tax expense (benefit)						54.0						(11.5)						(3.2)						39.3						12.7						(24.2)						6.6						—						34.4
Preferred stock dividends of subsidiary						0.3						—						—						0.3						—						—						—						—						0.3
Net loss attributed to noncontrolling interests						—						—						—						—						—						1.4						—						—						1.4
Net income (loss) attributed to common shareholders						$	281.3					$	(30.5)					$	(8.9)					$	241.9					$	37.3					$	87.9					$	(95.8)					$	—					$	271.3
Other Segment Disclosures
Three Months Ended September 30, 2025
Capital expenditures and asset acquisitions						$	1,376.0					$	93.9					$	29.5					$	1,499.4					$	—					$	58.3					$	6.9					$	—					$	1,564.6
Balance at September 30, 2025
Equity method investments						17.3						—						—						17.3						2,268.8						—						55.3						—						2,341.4
Total assets (2)						32,467.2						8,049.4						1,651.7						42,168.3						2,268.8						7,809.9						1,199.4						(3,637.5)						49,808.9

(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 September 30, 2025 reflect an elimination of $2,613.4 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 September 30, 2024
External revenues						$	1,590.0					$	173.6					$	53.0					$	1,816.6					$	—					$	46.9					$	—					$	—					$	1,863.5
Intersegment revenues						—						—						—						—						—						116.2						—						(116.2)						—
Fuel and purchased power						433.9						—						—						433.9						—						—						—						—						433.9
Cost of natural gas sold						61.4						17.8						16.9						96.1						—						0.4						—						(9.6)						86.9
Other operation and maintenance						403.5						126.5						22.6						552.6						—						19.1						(3.3)						(1.6)						566.8
Depreciation and amortization						232.4						63.9						12.0						308.3						—						49.2						5.6						(22.6)						340.5
Property and revenue taxes						32.8						12.2						2.6						47.6						—						4.0						0.1						—						51.7
Equity in earnings of transmission affiliates						—						—						—						—						46.7						—						—						—						46.7
Other income, net (1)						35.7						1.5						0.2						37.4						—						0.2						13.7						(7.3)						44.0
Interest expense						160.3						22.3						4.1						186.7						4.8						23.4						79.0						(89.7)						204.2
Income tax expense (benefit)						63.3						(19.0)						(1.3)						43.0						10.2						(16.0)						(5.6)						—						31.6
Preferred stock dividends of subsidiary						0.3						—						—						0.3						—						—						—						—						0.3
Net loss attributed to noncontrolling interests						—						—						—						—						—						1.8						—						—						1.8
Net income (loss) attributed to common shareholders						$	237.8					$	(48.6)					$	(3.7)					$	185.5					$	31.7					$	85.0					$	(62.1)					$	—					$	240.1
Other Segment Disclosures
Three Months Ended September 30, 2024
Capital expenditures and asset acquisitions						$	659.5					$	86.6					$	32.6					$	778.7					$	—					$	9.0					$	8.3					$	—					$	796.0
Balance at September 30, 2024
Equity method investments						15.5						—						—						15.5						2,080.8						—						67.5						—						2,163.8
Total assets (2)						29,887.4						7,893.9						1,553.1						39,334.4						2,085.4						6,210.0						1,144.6						(3,577.9)						45,196.5

(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 September 30, 2024 reflect an elimination of $2,687.6 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
Nine Months Ended September 30, 2025
External revenues						$	5,438.7					$	1,242.4					$	362.4					$	7,043.5					$	—					$	219.5					$	—					$	—					$	7,263.0
Intersegment revenues						—						—						—						—						—						357.5						—						(357.5)						—
Fuel and purchased power						1,284.5						—						—						1,284.5						—						—						—						—						1,284.5
Cost of natural gas sold						582.7						339.1						165.1						1,086.9						—						6.6						—						(33.7)						1,059.8
Other operation and maintenance						1,274.8						367.3						76.2						1,718.3						—						107.6						(9.5)						(7.1)						1,809.3
Depreciation and amortization						749.5						194.2						37.0						980.7						—						179.6						16.2						(74.3)						1,102.2
Property and revenue taxes						135.0						44.6						19.9						199.5						—						15.6						0.1						—						215.2
Equity in earnings of transmission affiliates						—						—						—						—						160.3						—						—						—						160.3
Other income, net (1)						62.4						6.5						0.3						69.2						—						2.2						20.3						(23.3)						68.4
Interest expense						478.6						67.1						14.0						559.7						14.5						92.6						266.3						(265.7)						667.4
Income tax expense (benefit)						171.5						66.4						12.8						250.7						36.0						(98.7)						(73.4)						—						114.6
Preferred stock dividends of subsidiary						0.9						—						—						0.9						—						—						—						—						0.9
Net loss attributed to noncontrolling interests						—						—						—						—						—						3.1						—						—						3.1
Net income (loss) attributed to common shareholders						$	823.6					$	170.2					$	37.7					$	1,031.5					$	109.8					$	279.0					$	(179.4)					$	—					$	1,240.9
Other Segment Disclosures
Capital expenditures and asset acquisitions						$	2,692.4					$	219.3					$	84.5					$	2,996.2					$	—					$	490.4					$	14.6					$	—					$	3,501.2

(1)    Includes amounts that are not material for interest income and other equity earnings from investments other than from transmission affiliates.

						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
Nine Months Ended September 30, 2024
External revenues						$	4,737.0					$	1,116.4					$	308.6					$	6,162.0					$	—					$	153.7					$	—					$	—					$	6,315.7
Intersegment revenues						—						—						—						—						—						355.9						—						(355.9)						—
Fuel and purchased power						1,115.4						—						—						1,115.4						—						—						—						—						1,115.4
Cost of natural gas sold						444.9						254.3						131.5						830.7						—						6.1						—						(34.6)						802.2
Other operation and maintenance						1,182.6						336.1						67.8						1,586.5						—						62.3						(10.7)						(7.1)						1,631.0
Depreciation and amortization						685.3						191.1						34.9						911.3						—						147.9						16.6						(65.3)						1,010.5
Property and revenue taxes						125.0						41.9						15.1						182.0						—						12.5						0.2						—						194.7
Equity in earnings of transmission affiliates						—						—						—						—						138.3						—						—						—						138.3
Other income, net (1)						101.4						5.7						0.3						107.4						—						0.4						41.7						(20.8)						128.7
Interest expense						475.4						70.8						12.1						558.3						14.5						71.6						222.1						(269.7)						596.8
Income tax expense (benefit)						172.6						63.3						12.0						247.9						30.6						(59.6)						(58.0)						—						160.9
Preferred stock dividends of subsidiary						0.9						—						—						0.9						—						—						—						—						0.9
Net loss attributed to noncontrolling interests						—						—						—						—						—						3.4						—						—						3.4
Net income (loss) attributed to common shareholders						$	636.3					$	164.6					$	35.5					$	836.4					$	93.2					$	272.6					$	(128.5)					$	—					$	1,073.7
Other Segment Disclosures
Capital expenditures and asset acquisitions						$	1,644.5					$	256.2					$	82.2					$	1,982.9					$	—					$	33.7					$	16.0					$	—					$	2,032.6

(1)    Includes amounts that are not material for interest income and other equity earnings from investments other than from transmission affiliates.

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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