XML 31 R19.htm IDEA: XBRL DOCUMENT
v3.26.1

LONG-TERM DEBT | 6 Months Ended
--- | ---
Jun. 30, 2026
Long-Term Debt, Unclassified [Abstract] |
LONG-TERM DEBT | LONG-TERM DEBT WEC Energy Group, Inc. In January 2026, our $1,000.0 million of 4.75% Senior Notes due January 9, 2026, matured, and principal and accrued interest were paid with proceeds received from issuing commercial paper. In February 2026, we issued an additional $400.0 million of our 4.75% Senior Notes due January 15, 2028, and used the net proceeds to repay short-term debt and for other general corporate purposes. Convertible Senior Notes As of June 30, 2026, 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, 2028 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 June 30, 2026:
(in millions) |  | Principal Amount |  | Unamortized Debt Issuance Costs |  | Net Carrying Amount |  | Fair Value Amount (1)
2027 Notes |  | $ | 862.5 |  |  | $ | (3.0) |  |  | $ | 859.5 |  |  | $ | 1,044.2 |
2028 Notes |  | 900.0 |  |  | (6.8) |  |  | 893.2 |  |  | 936.0 |
2029 Notes |  | 862.5 |  |  | (5.8) |  |  | 856.7 |  |  | 1,069.2 |
(1) The fair values are categorized in Level 2 of the fair value hierarchy. See Note 14, 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, 2028 Notes, and 2029 Notes:
|  | Three Months Ended June 30 |  | Six Months Ended June 30
(in millions) |  | 2026 |  | 2025 |  | 2026 |  | 2025
2027 Notes |  |  |  |  |  |  |  |
Contractual interest expense |  | $ | 9.5 |  |  | $ | 9.5 |  |  | $ | 18.9 |  |  | $ | 18.9 |
Amortization of debt issuance costs |  | 0.9 |  |  | 0.9 |  |  | 1.7 |  |  | 1.7 |
Total interest expense – 2027 Notes |  | 10.4 |  |  | 10.4 |  |  | 20.6 |  |  | 20.6 |
2028 Notes |  |  |  |  |  |  |  |
Contractual interest expense |  | 7.6 |  |  | 1.8 |  |  | 15.2 |  |  | 1.8 |
Amortization of debt issuance costs |  | 0.9 |  |  | 0.3 |  |  | 1.8 |  |  | 0.3 |
Total interest expense – 2028 Notes |  | $ | 8.5 |  |  | $ | 2.1 |  |  | $ | 17.0 |  |  | $ | 2.1 |
2029 Notes |  |  |  |  |  |  |  |
Contractual interest expense |  | 9.5 |  |  | 9.5 |  |  | 18.9 |  |  | 18.9 |
Amortization of debt issuance costs |  | 0.5 |  |  | 0.5 |  |  | 1.0 |  |  | 1.0 |
Total interest expense – 2029 Notes |  | $ | 10.0 |  |  | $ | 10.0 |  |  | $ | 19.9 |  |  | $ | 19.9 |
Wisconsin Electric Power Company In March 2026, WE issued $300.0 million of 5.65% Debentures, due March 15, 2056, and used the net proceeds to repay short-term debt and for other general corporate purposes. In June 2026, WE issued $400.0 million of 4.65% Debentures, due June 15, 2031, and $400.0 million of 5.10% Debentures, due June 15, 2036, and used the net proceeds to repay short-term debt and for other general corporate purposes. Wisconsin Public Service Corporation In January 2026, WPS issued $300.0 million of 4.25% Senior Notes, due January 15, 2031, and used the net proceeds to repay short-term debt and for other general corporate purposes. The Peoples Gas Light and Coke Company PGL has used certain First Mortgage Bonds to secure tax exempt interest rates. The Illinois Finance Authority has issued tax exempt bonds, and the proceeds from the sale of these bonds were loaned to PGL. In return, PGL issued $100.0 million of collateralized First Mortgage Bonds. In February 2026, PGL provided notice of its intent to redeem in full all $50.0 million of its First and Refunding Mortgage Bonds, Series VV and all of its $50.0 million First and Refunding Mortgage Bonds, Series ZZ. In addition, notices of redemption for all $50.0 million of the related 3.90% Illinois Finance Authority Gas Supply Refunding Revenue Bonds, Series 2010 due March 1, 2030 and all $50.0 million of the 4.00% Illinois Finance Authority Gas Supply Refunding Revenue Bonds, Series 2013A due February 1, 2033 were issued. In March 2026, all redemptions were made.

X
- References No definition available. + Details
Name: | us-gaap_LongTermDebtAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration