v3.26.3
INVESTMENT IN TRANSMISSION AFFILIATES (Tables)
 9 Months Ended
Sep. 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 September 30, 2026
(in millions)ATCATC HoldcoTotal
Balance at beginning of period $2,398.1 $22.6 $2,420.7 
Add: Earnings from equity method investment65.5 0.3 65.8 
Add: Capital contributions60.6 — 60.6 
Less: Distributions 50.0 — 50.0 
Less: Other0.1 — 0.1 
Balance at end of period$2,474.1 $22.9 $2,497.0 
Three Months Ended September 30, 2025
(in millions)ATCATC HoldcoTotal
Balance at beginning of period$2,177.5 $22.6 $2,200.1 
Add: Earnings from equity method investment54.2 0.6 54.8 
Add: Capital contributions54.6 — 54.6 
Less: Distributions40.7 — 40.7 
Balance at end of period$2,245.6 $23.2 $2,268.8 
Nine Months Ended September 30, 2026
(in millions)ATCATC HoldcoTotal
Balance at beginning of period$2,256.9 $23.5 $2,280.4 
Add: Earnings from equity method investment186.9 1.0 187.9 
Add: Capital contributions173.0 — 173.0 
Less: Distributions142.7 1.6 144.3 
Balance at end of period$2,474.1 $22.9 $2,497.0 
Nine Months Ended September 30, 2025
(in millions)ATCATC HoldcoTotal
Balance at beginning of period$2,085.1 $23.8 $2,108.9 
Add: Earnings from equity method investment154.5 5.8 160.3 
Add: Capital contributions142.4 — 142.4 
Less: Distributions136.4 6.4 142.8 
Balance at end of period$2,245.6 $23.2 $2,268.8 
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 September 30Nine Months Ended September 30
(in millions)2026202520262025
Charges to ATC for services and construction$5.4 $4.2 $18.8 $13.7 
Charges from ATC for network transmission services129.3 116.8 387.5 350.2 
Net refund from ATC related to FERC ROE orders— 2.1 1.3 3.8 
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)September 30, 2026December 31, 2025
Accounts receivable for services provided to ATC$1.8 $1.6 
Accounts payable for services received from ATC43.7 38.4 
Amounts due from ATC for transmission infrastructure upgrades (1)
38.0 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 September 30Nine Months Ended September 30
(in millions)2026202520262025
Income statement data
Operating revenues$280.8 $245.1 $820.1 $721.2 
Operating expenses129.4 116.9 386.4 351.2 
Other expense, net47.3 41.4 135.8 123.2 
Net income$104.1 $86.8 $297.9 $246.8 
Schedule of summarized balance sheet data for ATC
(in millions)September 30, 2026December 31, 2025
Balance sheet data
Current assets$165.8 $137.5 
Noncurrent assets8,470.0 7,590.8 
Total assets$8,635.8 $7,728.3 
Current liabilities$619.4 $839.8 
Long-term debt3,798.5 3,156.3 
Other noncurrent liabilities768.5 638.9 
Members' equity3,449.4 3,093.3 
Total liabilities and members' equity$8,635.8 $7,728.3