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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 51.1 $ 9.8
Accounts receivable and unbilled revenues, net of reserves of $129.5 and $162.8, respectively 1,269.5 1,669.3
Materials, supplies, and inventories 842.8 813.2
Prepaid taxes 125.5 214.9
Other prepayments 82.4 82.6
Other 144.0 121.9
Current assets 2,515.3 2,911.7
Long-term assets    
Property, plant, and equipment, net of accumulated depreciation and amortization of $12,229.4 and $11,611.9, respectively 37,354.2 34,645.4
Regulatory assets (September 30, 2025 and December 31, 2024 include $69.6 and $76.5, respectively, related to WEPCo Environmental Trust) 3,217.4 3,339.7
Equity investment in transmission affiliates 2,268.8 2,108.9
Goodwill 3,052.8 3,052.8
Pension and OPEB assets 1,016.4 968.5
Other 384.0 336.2
Long-term assets 47,293.6 44,451.5
Total assets 49,808.9 47,363.2
Current liabilities    
Short-term debt 1,260.6 1,116.6
Current portion of long-term debt (September 30, 2025 and December 31, 2024 include $9.2 related to WEPCo Environmental Trust) 1,901.4 1,729.0
Accounts payable 917.0 1,137.1
Other 971.3 859.2
Current liabilities 5,050.3 4,841.9
Long-term liabilities    
Long-term debt (September 30, 2025 and December 31, 2024 include $72.0 and $76.4, respectively, related to WEPCo Environmental Trust) 17,663.3 17,178.1
Finance lease obligations 364.2 303.3
Deferred income taxes 5,814.3 5,514.7
Deferred revenue, net 318.3 334.6
Regulatory liabilities 3,940.3 3,958.0
Intangible liabilities 595.0 566.8
Environmental remediation liabilities 438.2 445.8
AROs 623.2 580.0
Other 991.0 838.1
Long-term liabilities 30,747.8 29,719.4
Commitments and contingencies (Note 21)
Common shareholders' equity    
Common stock – $0.01 par value; 650,000,000 shares authorized; 325,294,252 and $317,680,855 shares outstanding, respectively 3.2 3.2
Additional paid in capital 5,105.8 4,315.8
Retained earnings 8,467.3 8,083.8
Accumulated other comprehensive loss (7.9) (7.8)
Common shareholders' equity 13,568.4 12,395.0
Preferred stock of subsidiary 30.4 30.4
Noncontrolling interests 412.0 376.5
Total liabilities and equity $ 49,808.9 $ 47,363.2