v3.26.3
SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 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 nine months ended September 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 September 30, 2026
External revenues$1,964.7 $183.2 $60.9 $2,208.8 $— $81.8 $— $— $2,290.6 
Intersegment revenues— — — — — 119.1 — (119.1)— 
Fuel and purchased power559.1 — — 559.1 — — — — 559.1 
Cost of natural gas sold50.3 27.4 23.3 101.0 — 0.8 — (9.7)92.1 
Other operation and maintenance479.3 89.2 24.7 593.2 — 30.9 (8.1)(1.6)614.4 
Depreciation and amortization271.8 67.1 13.5 352.4 — 60.4 5.6 (29.4)389.0 
Property and revenue taxes49.0 11.2 6.8 67.0 — 5.3 — — 72.3 
Equity in earnings of transmission affiliates— — — — 65.8 — — — 65.8 
Other income, net (1)
43.6 2.6 0.3 46.5 — 0.7 11.3 (9.0)49.5 
Interest expense175.0 21.1 4.8 200.9 3.9 30.0 94.3 (87.4)241.7 
Income tax expense (benefit)61.8 (9.0)(3.1)49.7 15.6 (19.3)1.0 — 47.0 
Preferred stock dividends of subsidiary0.3 — — 0.3 — — — — 0.3 
Net income attributed to noncontrolling interests— — — — — (0.7)— — (0.7)
Net income (loss) attributed to common shareholders$361.7 $(21.2)$(8.8)$331.7 $46.3 $92.8 $(81.5)$— $389.3 
Other Segment Disclosures
Three Months Ended September 30, 2026
Capital expenditures, including AFUDC-Debt and asset acquisitions$1,011.1 $123.4 $37.3 $1,171.8 $— $19.2 $7.6 $— $1,198.6 
Balance at September 30, 2026
Equity method investments19.7 — — 19.7 2,497.0 — 56.9 — 2,573.6 
Total assets (2)
36,318.6 8,047.2 1,718.3 46,084.1 2,497.0 7,661.1 1,298.8 (3,643.5)53,897.5 

(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 September 30, 2026 reflect an elimination of $2,552.4 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
Three Months Ended September 30, 2025
External revenues$1,791.6 $183.5 $53.0 $2,028.1 $— $75.9 $— $— $2,104.0 
Intersegment revenues— — — — — 117.4 — (117.4)— 
Fuel and purchased power502.4 — — 502.4 — — — — 502.4 
Cost of natural gas sold75.8 21.4 17.5 114.7 — 0.8 — (9.8)105.7 
Other operation and maintenance443.7 108.0 23.6 575.3 — 34.6 (3.2)(1.6)605.1 
Depreciation and amortization255.7 65.0 12.5 333.2 — 60.6 5.2 (25.6)373.4 
Property and revenue taxes44.5 11.4 6.6 62.5 — 5.3 — — 67.8 
Equity in earnings of transmission affiliates— — — — 54.8 — — — 54.8 
Other income, net (1)
25.0 2.1 0.1 27.2 — 0.8 3.7 (7.9)23.8 
Interest expense158.9 21.8 5.0 185.7 4.8 30.5 90.9 (88.3)223.6 
Income tax expense (benefit)54.0 (11.5)(3.2)39.3 12.7 (24.2)6.6 — 34.4 
Preferred stock dividends of subsidiary0.3 — — 0.3 — — — — 0.3 
Net loss attributed to noncontrolling interests— — — — — 1.4 — — 1.4 
Net income (loss) attributed to common shareholders$281.3 $(30.5)$(8.9)$241.9 $37.3 $87.9 $(95.8)$— $271.3 
Other Segment Disclosures
Three Months Ended September 30, 2025
Capital expenditures, including AFUDC-Debt and asset acquisitions$1,385.7 $93.9 $29.7 $1,509.3 $— $58.3 $6.9 $— $1,574.5 
Balance at September 30, 2025
Equity method investments17.3 — — 17.3 2,268.8 — 55.3 — 2,341.4 
Total assets (2)
32,467.2 8,049.4 1,651.7 42,168.3 2,268.8 7,809.9 1,199.4 (3,637.5)49,808.9 

(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 September 30, 2025 reflect an elimination of $2,613.4 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
Nine Months Ended September 30, 2026
External revenues$5,924.5 $1,195.1 $402.5 $7,522.1 $— $264.8 $— $— $7,786.9 
Intersegment revenues— — — — — 362.4 — (362.4)— 
Fuel and purchased power1,392.6 — — 1,392.6 — — — — 1,392.6 
Cost of natural gas sold687.7 335.1 209.2 1,232.0 — 6.0 — (32.8)1,205.2 
Other operation and maintenance1,389.4 310.3 78.3 1,778.0 — 79.5 (10.2)(7.1)1,840.2 
Depreciation and amortization802.6 199.4 39.7 1,041.7 — 181.8 16.5 (86.3)1,153.7 
Property and revenue taxes148.8 33.5 20.5 202.8 — 15.8 0.1 — 218.7 
Equity in earnings of transmission affiliates— — — — 187.9 — — — 187.9 
Other income, net (1)
138.9 6.7 0.6 146.2 — 1.9 36.9 (25.8)159.2 
Interest expense499.1 63.3 15.0 577.4 11.8 90.6 281.3 (262.0)699.1 
Income tax expense (benefit)164.3 73.0 10.4 247.7 43.7 (80.3)(84.0)— 127.1 
Preferred stock dividends of subsidiary0.9 — — 0.9 — — — — 0.9 
Net income attributed to noncontrolling interests— — — — — (3.6)— — (3.6)
Net income (loss) attributed to common shareholders$978.0 $187.2 $30.0 $1,195.2 $132.4 $332.1 $(166.8)$— $1,492.9 
Other Segment Disclosures
Capital expenditures, including AFUDC-Debt and asset acquisitions$2,883.2 $271.9 $82.1 $3,237.2 $— $65.8 $18.7 $— $3,321.7 

(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
Nine Months Ended September 30, 2025
External revenues$5,438.7 $1,242.4 $362.4 $7,043.5 $— $219.5 $— $— $7,263.0 
Intersegment revenues— — — — — 357.5 — (357.5)— 
Fuel and purchased power1,284.5 — — 1,284.5 — — — — 1,284.5 
Cost of natural gas sold582.7 339.1 165.1 1,086.9 — 6.6 — (33.7)1,059.8 
Other operation and maintenance1,274.8 367.3 76.2 1,718.3 — 107.6 (9.5)(7.1)1,809.3 
Depreciation and amortization749.5 194.2 37.0 980.7 — 179.6 16.2 (74.3)1,102.2 
Property and revenue taxes135.0 44.6 19.9 199.5 — 15.6 0.1 — 215.2 
Equity in earnings of transmission affiliates— — — — 160.3 — — — 160.3 
Other income, net (1)
62.4 6.5 0.3 69.2 — 2.2 20.3 (23.3)68.4 
Interest expense478.6 67.1 14.0 559.7 14.5 92.6 266.3 (265.7)667.4 
Income tax expense (benefit)171.5 66.4 12.8 250.7 36.0 (98.7)(73.4)— 114.6 
Preferred stock dividends of subsidiary0.9 — — 0.9 — — — — 0.9 
Net loss attributed to noncontrolling interests— — — — — 3.1 — — 3.1 
Net income (loss) attributed to common shareholders$823.6 $170.2 $37.7 $1,031.5 $109.8 $279.0 $(179.4)$— $1,240.9 
Other Segment Disclosures
Capital expenditures, including AFUDC-Debt and asset acquisitions$2,716.8 $219.3 $84.9 $3,021.0 $— $490.4 $14.7 $— $3,526.1 

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