WEC ENERGY GROUP INC

For the period ended Dec 31, 2023. Filed Feb 22, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 22, 2024

WEC$117.01-0.1%Stored close · as of Nov 10, 2026

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Contents

B. Consolidated Income Statements

(in millions, except per share amounts)	2023	2022	2021
Operating revenues	$8,893.0	$9,597.4	$8,316.0
Operating expenses
Cost of sales	3,191.2	4,358.9	3,311.0
Other operation and maintenance	2,100.5	1,938.0	2,005.5
Impairment related to ICC disallowances	178.9	—	—
Depreciation and amortization	1,264.2	1,122.6	1,074.3
Property and revenue taxes	250.2	253.7	210.3
Total operating expenses	6,985.0	7,673.2	6,601.1
Operating income	1,908.0	1,924.2	1,714.9
Equity in earnings of transmission affiliates	177.5	194.7	158.1
Other income, net	177.7	128.8	133.2
Interest expense	726.9	515.1	471.1
Loss on debt extinguishment	—	—	36.3
Other expense	(371.7)	(191.6)	(216.1)
Income before income taxes	1,536.3	1,732.6	1,498.8
Income tax expense	204.6	322.9	200.3
Net income	1,331.7	1,409.7	1,298.5
Preferred stock dividends of subsidiary	1.2	1.2	1.2
Net (income) loss attributed to noncontrolling interests	1.2	(0.4)	3.0
Net income attributed to common shareholders	$1,331.7	$1,408.1	$1,300.3
Earnings per share
Basic	$4.22	$4.46	$4.12
Diluted	$4.22	$4.45	$4.11
Weighted average common shares outstanding
Basic	315.4	315.4	315.4
Diluted	315.9	316.1	316.3

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.