| REGULATORY ASSETS AND LIABILITIES The following regulatory assets and liabilities were reflected on our balance sheets at September 30, 2026 and December 31, 2025. For more information on our regulatory assets and liabilities, see Note 6, Regulatory Assets and Liabilities, in our 2025 Annual Report on Form 10-K. | | | | | | | | | | | | | | | | (in millions) | | September 30, 2026 | | December 31, 2025 | | Regulatory assets | | | | | | Plant retirement related items | | $ | 722.1 | | | $ | 768.6 | | | Income tax related items | | 549.8 | | | 493.4 | | | Environmental remediation costs | | 538.2 | | | 566.0 | | | Pension and OPEB costs | | 506.5 | | | 564.5 | | | AROs | | 215.0 | | | 185.1 | | | Electric transmission costs | | 100.0 | | | 30.7 | | | System support resource | | 85.0 | | | 92.6 | | | Decoupling | | 78.7 | | | 43.8 | | | Derivatives | | 66.2 | | | 57.7 | | | Securitization | | 60.9 | | | 67.5 | | | Uncollectible expense | | 49.3 | | | 123.9 | | | Finance and operating leases | | 48.6 | | | 36.0 | | Revenue requirements of generation facilities (1) | | 27.8 | | | 4.2 | | | Bluewater | | 22.2 | | | 37.7 | | | Other, net | | 116.6 | | | 101.9 | | | Total regulatory assets | | $ | 3,186.9 | | | $ | 3,173.6 | | | | | | | | Balance sheet presentation | | | | | | Other current assets | | $ | 46.2 | | | $ | 17.3 | | | Regulatory assets | | 3,140.7 | | | 3,156.3 | | | Total regulatory assets | | $ | 3,186.9 | | | $ | 3,173.6 | |
(1)These amounts primarily represent the deferral of the incremental revenue requirement of incurred costs resulting from changes to the retirement of certain generation facilities. | | | | | | | | | | | | | | | | (in millions) | | September 30, 2026 | | December 31, 2025 | | Regulatory liabilities | | | | | | Income tax related items | | $ | 1,770.4 | | | $ | 1,802.4 | | | Removal costs | | 1,689.2 | | | 1,584.7 | | | Pension and OPEB benefits | | 296.3 | | | 301.5 | | | Energy costs refundable through rate adjustments | | 147.0 | | | 119.2 | | | Settlement related to QIP and UEA riders | | 125.0 | | | 125.0 | | | Uncollectible expense | | 93.4 | | | 73.1 | | | Earnings sharing mechanisms | | 48.1 | | | 35.8 | | | Derivatives | | 38.5 | | | 27.4 | | | MERC property tax tracker | | 29.2 | | | 23.1 | | We Power escrowed costs (1) | | 20.1 | | | 15.1 | | | Other, net | | 120.7 | | | 102.9 | | | Total regulatory liabilities | | $ | 4,377.9 | | | $ | 4,210.2 | | | | | | | | Balance sheet presentation | | | | | | Other current liabilities | | $ | 85.7 | | | $ | 88.9 | | | Regulatory liabilities | | 4,292.2 | | | 4,121.3 | | | Total regulatory liabilities | | $ | 4,377.9 | | | $ | 4,210.2 | |
(1)We defer as a regulatory asset or liability the difference between actual costs associated with the We Power generation units and those included in rates until recovery or refund is authorized in a future rate proceeding.
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