v3.26.1
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2026
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 six months ended June 30, 2026 and 2025:
Utility Operations
(in millions)WisconsinIllinoisOther StatesTotal Utility OperationsElectric TransmissionNon-Utility Energy InfrastructureCorporate and OtherReconciling EliminationsWEC Energy Group Consolidated
Three Months Ended June 30, 2026
External revenues$1,621.5 $262.2 $84.3 $1,968.0 $— $94.1 $— $— $2,062.1 
Intersegment revenues— — — — — 121.5 — (121.5)— 
Fuel and purchased power383.7 — — 383.7 — — — — 383.7 
Cost of natural gas sold114.4 32.5 34.2 181.1 — 0.8 — (10.0)171.9 
Other operation and maintenance459.9 106.9 24.1 590.9 — 28.1 2.0 (3.9)617.1 
Depreciation and amortization268.1 66.4 13.1 347.6 — 60.7 5.7 (29.1)384.9 
Property and revenue taxes48.5 11.3 6.7 66.5 — 5.1 0.1 — 71.7 
Equity in earnings of transmission affiliates— — — — 62.6 — — — 62.6 
Other income, net (1)
52.2 2.0 0.3 54.5 — 0.7 15.3 (9.0)61.5 
Interest expense161.8 19.8 4.9 186.5 4.0 30.9 95.0 (87.5)228.9 
Income tax expense (benefit)28.8 7.8 0.4 37.0 14.4 (29.5)5.1 — 27.0 
Preferred stock dividends of subsidiary0.3 — — 0.3 — — — — 0.3 
Net income attributed to noncontrolling interests— — — — — (1.5)— — (1.5)
Net income (loss) attributed to common shareholders$208.2 $19.5 $1.2 $228.9 $44.2 $118.7 $(92.6)$— $299.2 
Other Segment Disclosures
Three Months Ended June 30, 2026
Capital expenditures and asset acquisitions$1,115.8 $92.6 $32.5 $1,240.9 $— $19.6 $4.5 $— $1,265.0 
Balance at June 30, 2026
Equity method investments19.1 — — 19.1 2,420.7 — 58.0 — 2,497.8 
Total assets (2)
35,352.5 7,945.2 1,684.4 44,982.1 2,423.9 7,714.8 1,290.3 (3,660.7)52,750.4 

(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 June 30, 2026 reflect an elimination of $2,573.2 million for all lease activity between We Power and WE.
Utility Operations
(in millions)WisconsinIllinoisOther StatesTotal Utility OperationsElectric TransmissionNon-Utility Energy InfrastructureCorporate and OtherReconciling EliminationsWEC Energy Group Consolidated
Three Months Ended June 30, 2025
External revenues$1,587.2 $270.6 $82.3 $1,940.1 $— $69.4 $— $— $2,009.5 
Intersegment revenues— — — — — 120.0 — (120.0)— 
Fuel and purchased power391.8 — — 391.8 — — — — 391.8 
Cost of natural gas sold128.4 29.5 30.0 187.9 — 1.3 — (10.5)178.7 
Other operation and maintenance416.0 112.4 23.9 552.3 — 50.9 (3.1)(3.9)596.2 
Depreciation and amortization250.2 64.8 12.3 327.3 — 60.8 5.6 (24.8)368.9 
Property and revenue taxes44.5 12.8 6.8 64.1 — 4.9 — — 69.0 
Equity in earnings of transmission affiliates— — — — 51.9 — — — 51.9 
Other income, net (1)
19.8 2.3 0.1 22.2 — 0.7 11.6 (8.0)26.5 
Interest expense157.9 22.1 4.7 184.7 4.9 31.5 88.5 (88.8)220.8 
Income tax expense (benefit)35.5 8.7 1.2 45.4 11.4 (38.9)1.6 — 19.5 
Preferred stock dividends of subsidiary0.3 — — 0.3 — — — — 0.3 
Net loss attributed to noncontrolling interests— — — — — 2.7 — — 2.7 
Net income (loss) attributed to common shareholders$182.4 $22.6 $3.5 $208.5 $35.6 $82.3 $(81.0)$— $245.4 
Other Segment Disclosures
Three Months Ended June 30, 2025
Capital expenditures and asset acquisitions$699.5 $71.6 $37.2 $808.3 $— $17.5 $3.6 $— $829.4 
Balance at June 30, 2025
Equity method investments16.8 — — 16.8 2,200.1 — 67.7 — 2,284.6 
Total assets (2)
31,314.9 7,989.9 1,624.4 40,929.2 2,201.0 7,812.7 1,234.2 (3,652.8)48,524.3 

(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 June 30, 2025 reflect an elimination of $2,629.4 million for all lease activity between We Power and WE.
Utility Operations
(in millions)WisconsinIllinoisOther StatesTotal Utility OperationsElectric TransmissionNon-Utility Energy InfrastructureCorporate and OtherReconciling EliminationsWEC Energy Group Consolidated
Six Months Ended June 30, 2026
External revenues$3,959.8 $1,011.9 $341.6 $5,313.3 $— $183.0 $— $— $5,496.3 
Intersegment revenues— — — — — 243.3 — (243.3)— 
Fuel and purchased power833.5 — — 833.5 — — — — 833.5 
Cost of natural gas sold637.4 307.7 185.9 1,131.0 — 5.2 — (23.1)1,113.1 
Other operation and maintenance910.1 221.1 53.6 1,184.8 — 48.6 (2.1)(5.5)1,225.8 
Depreciation and amortization530.8 132.3 26.2 689.3 — 121.4 10.9 (56.9)764.7 
Property and revenue taxes99.8 22.3 13.7 135.8 — 10.5 0.1 — 146.4 
Equity in earnings of transmission affiliates— — — — 122.1 — — — 122.1 
Other income, net (1)
95.3 4.1 0.3 99.7 — 1.2 25.6 (16.8)109.7 
Interest expense324.1 42.2 10.2 376.5 7.9 60.6 187.0 (174.6)457.4 
Income tax expense (benefit)102.5 82.0 13.5 198.0 28.1 (61.0)(85.0)— 80.1 
Preferred stock dividends of subsidiary0.6 — — 0.6 — — — — 0.6 
Net income attributed to noncontrolling interests— — — — — (2.9)— — (2.9)
Net income (loss) attributed to common shareholders$616.3 $208.4 $38.8 $863.5 $86.1 $239.3 $(85.3)$— $1,103.6 
Other Segment Disclosures
Capital expenditures and asset acquisitions$1,832.1 $148.5 $44.7 $2,025.3 $— $46.6 $11.0 $— $2,082.9 

(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)WisconsinIllinoisOther StatesTotal Utility OperationsElectric TransmissionNon-Utility Energy InfrastructureCorporate and OtherReconciling EliminationsWEC Energy Group Consolidated
Six Months Ended June 30, 2025
External revenues$3,647.1 $1,058.9 $309.4 $5,015.4 $— $143.6 $— $— $5,159.0 
Intersegment revenues— — — — — 240.1 — (240.1)— 
Fuel and purchased power782.1 — — 782.1 — — — — 782.1 
Cost of natural gas sold506.9 317.7 147.6 972.2 — 5.8 — (23.9)954.1 
Other operation and maintenance831.1 259.3 52.6 1,143.0 — 73.0 (6.3)(5.5)1,204.2 
Depreciation and amortization493.8 129.2 24.5 647.5 — 119.0 11.0 (48.7)728.8 
Property and revenue taxes90.5 33.2 13.3 137.0 — 10.3 0.1 — 147.4 
Equity in earnings of transmission affiliates— — — — 105.5 — — — 105.5 
Other income, net (1)
37.4 4.4 0.2 42.0 — 1.4 16.6 (15.4)44.6 
Interest expense319.7 45.3 9.0 374.0 9.7 62.1 175.4 (177.4)443.8 
Income tax expense (benefit)117.5 77.9 16.0 211.4 23.3 (74.5)(80.0)— 80.2 
Preferred stock dividends of subsidiary0.6 — — 0.6 — — — — 0.6 
Net loss attributed to noncontrolling interests— — — — — 1.7 — — 1.7 
Net income (loss) attributed to common shareholders$542.3 $200.7 $46.6 $789.6 $72.5 $191.1 $(83.6)$— $969.6 
Other Segment Disclosures
Capital expenditures and asset acquisitions$1,316.4 $125.4 $55.0 $1,496.8 $— $432.1 $7.7 $— $1,936.6 

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