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GOODWILL AND INTANGIBLES (Tables)
 9 Months Ended
Sep. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of goodwill balance by segment The table below shows our goodwill balances by segment at September 30, 2026. We had no changes to the carrying amount of goodwill during the nine months ended September 30, 2026.
(in millions) WisconsinIllinoisOther StatesNon-Utility Energy InfrastructureTotal
Goodwill balance (1)
$2,104.3 $758.7 $183.2 $6.6 $3,052.8 

(1)We had no accumulated impairment losses related to our goodwill as of September 30, 2026.

During the third quarter of 2026, annual impairment tests were completed at all of our reporting units that carried a goodwill balance as of July 1, 2026. No impairments resulted from these tests.
Schedule of intangible liabilities obtained through acquisitions by WECI
The intangible liabilities below were all obtained through acquisitions by WECI.
September 30, 2026December 31, 2025
(in millions)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
PPAs (1)
$751.2 $(220.9)$530.3 $751.2 $(176.5)$574.7 
Proxy revenue swap (2)
7.2 (5.5)1.7 7.2 (4.9)2.3 
Interconnection agreements (3)
4.7 (1.5)3.2 4.7 (1.4)3.3 
Total intangible liabilities$763.1 $(227.9)$535.2 $763.1 $(182.8)$580.3 

(1)    Represents PPAs related to the acquisitions of Blooming Grove, Tatanka Ridge, Jayhawk, Thunderhead, Samson I, Sapphire Sky Wind Energy LLC, Delilah I, and Hardin III expiring between 2030 and 2040. The weighted-average remaining useful life of the PPAs is 9 years. See Note 2, Acquisitions, for more information on recent WECI acquisitions.

(2)    Represents an agreement with a counterparty to swap the market revenue of Upstream Wind Energy LLC's wind generation for fixed quarterly payments over 10 years, which expires in 2029. The remaining useful life of the proxy revenue swap is two years.

(3)    Represents interconnection agreements related to the acquisitions of Tatanka Ridge and Bishop Hill Energy III LLC, expiring in 2040 and 2041, respectively. These agreements relate to payments for connecting our facilities to the infrastructure of another utility to facilitate the movement of power onto the electric grid. The weighted-average remaining useful life of the interconnection agreements is 14 years.
Schedule of amortization over the next five years Amortization for the next five years, including amounts recorded through September 30, 2026, is estimated to be:
For the Years Ending December 31
(in millions)20262027202820292030
Amortization to be recorded as an increase to operating revenues $59.9 $59.9 $59.9 $59.3 $59.1 
Amortization to be recorded as a decrease to other operation and maintenance0.2 0.2 0.2 0.2 0.2