v3.26.1
INVESTMENT IN TRANSMISSION AFFILIATES (Tables)
 6 Months Ended
Jun. 30, 2026
Transmission Affiliates  
Investment in transmission affiliates  
Schedule of changes to our investments in transmission affiliates The following tables provide a reconciliation of the changes in our investments in ATC and ATC Holdco:
Three Months Ended June 30, 2026
(in millions)ATCATC HoldcoTotal
Balance at beginning of period $2,346.7 $22.8 $2,369.5 
Add: Earnings from equity method investment62.2 0.4 62.6 
Add: Capital contributions36.6 — 36.6 
Less: Distributions 47.5 0.6 48.1 
Add: Other0.1 — 0.1 
Balance at end of period$2,398.1 $22.6 $2,420.7 
Three Months Ended June 30, 2025
(in millions)ATCATC HoldcoTotal
Balance at beginning of period$2,121.6 $27.4 $2,149.0 
Add: Earnings from equity method investment50.3 1.6 51.9 
Add: Capital contributions45.5 — 45.5 
Less: Distributions39.9 6.4 46.3 
Balance at end of period$2,177.5 $22.6 $2,200.1 
Six Months Ended June 30, 2026
(in millions)ATCATC HoldcoTotal
Balance at beginning of period$2,256.9 $23.5 $2,280.4 
Add: Earnings from equity method investment121.4 0.7 122.1 
Add: Capital contributions112.4 — 112.4 
Less: Distributions92.7 1.6 94.3 
Add: Other0.1 — 0.1 
Balance at end of period$2,398.1 $22.6 $2,420.7 
Six Months Ended June 30, 2025
(in millions)ATCATC HoldcoTotal
Balance at beginning of period$2,085.1 $23.8 $2,108.9 
Add: Earnings from equity method investment100.3 5.2 105.5 
Add: Capital contributions87.8 — 87.8 
Less: Distributions95.7 6.4 102.1 
Balance at end of period$2,177.5 $22.6 $2,200.1 
ATC  
Investment in transmission affiliates  
Schedule of significant related party transactions with ATC
The following table summarizes our significant related party transactions with ATC:
Three Months Ended June 30Six Months Ended June 30
(in millions)2026202520262025
Charges to ATC for services and construction$6.1 $5.0 $13.4 $9.5 
Charges from ATC for network transmission services129.0 116.7 258.2 233.4 
Net refund (payment) from (to) ATC related to FERC ROE orders(0.7)0.3 1.3 1.7 
Schedule of receivables and payables with ATC
Our balance sheets included the following receivables and payables for services provided to or received from ATC:
(in millions)June 30, 2026December 31, 2025
Accounts receivable for services provided to ATC$1.9 $1.6 
Accounts payable for services received from ATC43.5 38.4 
Amounts due from ATC for transmission infrastructure upgrades (1)
35.4 32.2 

(1)These transmission infrastructure upgrades were primarily related to the construction of WE's, WPS's, and UMERC's renewable energy projects.
Schedule of summarized income statement data for ATC
Summarized financial data for ATC is included in the tables below:
Three Months Ended June 30Six Months Ended June 30
(in millions)2026202520262025
Income statement data
Operating revenues$274.0 $241.2 $539.3 $476.1 
Operating expenses129.6 117.6 257.0 234.3 
Other expense, net44.7 42.7 88.5 81.8 
Net income$99.7 $80.9 $193.8 $160.0 
Schedule of summarized balance sheet data for ATC
(in millions)June 30, 2026December 31, 2025
Balance sheet data
Current assets$163.9 $137.5 
Noncurrent assets8,139.8 7,590.8 
Total assets$8,303.7 $7,728.3 
Current liabilities$620.5 $839.8 
Long-term debt3,576.0 3,156.3 
Other noncurrent liabilities782.0 638.9 
Members' equity3,325.2 3,093.3 
Total liabilities and members' equity$8,303.7 $7,728.3