v3.26.3
REGULATORY ASSETS AND LIABILITIES (Tables)
 9 Months Ended
Sep. 30, 2026
Regulatory Assets and Liabilities Disclosure [Abstract]  
Schedule of regulatory assets
(in millions)September 30, 2026December 31, 2025
Regulatory assets
Plant retirement related items$722.1 $768.6 
Income tax related items549.8 493.4 
Environmental remediation costs538.2 566.0 
Pension and OPEB costs506.5 564.5 
AROs215.0 185.1 
Electric transmission costs100.0 30.7 
System support resource85.0 92.6 
Decoupling78.7 43.8 
Derivatives66.2 57.7 
Securitization60.9 67.5 
Uncollectible expense49.3 123.9 
Finance and operating leases48.6 36.0 
Revenue requirements of generation facilities (1)
27.8 4.2 
Bluewater22.2 37.7 
Other, net116.6 101.9 
Total regulatory assets$3,186.9 $3,173.6 
Balance sheet presentation
Other current assets$46.2 $17.3 
Regulatory assets3,140.7 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.
Schedule of regulatory liabilities
(in millions)September 30, 2026December 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 benefits296.3 301.5 
Energy costs refundable through rate adjustments147.0 119.2 
Settlement related to QIP and UEA riders125.0 125.0 
Uncollectible expense93.4 73.1 
Earnings sharing mechanisms48.1 35.8 
Derivatives38.5 27.4 
MERC property tax tracker29.2 23.1 
We Power escrowed costs (1)
20.1 15.1 
Other, net120.7 102.9 
Total regulatory liabilities$4,377.9 $4,210.2 
Balance sheet presentation
Other current liabilities$85.7 $88.9 
Regulatory liabilities4,292.2 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.