WEC ENERGY GROUP INC
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
WEC$117.01-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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E. Consolidated Statements of Cash Flows
| (in millions) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Operating activities | |||
| Net income | $1,331.7 | $1,409.7 | $1,298.5 |
| Reconciliation to cash provided by operating activities | |||
| Depreciation and amortization | 1,264.2 | 1,122.6 | 1,074.3 |
| Deferred income taxes and ITCs, net | 219.4 | 280.1 | 151.1 |
| Impairment related to ICC disallowances | 178.9 | — | — |
| Contributions and payments related to pension and OPEB plans | (16.7) | (15.1) | (66.3) |
| Equity income in transmission affiliates, net of distributions | (33.0) | (74.3) | (25.1) |
| Net change in transmission regulatory assets and liabilities | 19.8 | (85.8) | 5.7 |
| Net gain on disposition of assets | (23.8) | (66.2) | (6.2) |
| Change in – | |||
| Accounts receivable and unbilled revenues, net | 340.6 | (342.1) | (249.2) |
| Materials, supplies, and inventories | 41.9 | (171.3) | (107.2) |
| Amounts recoverable from customers | 17.4 | 60.0 | (82.3) |
| Collateral on deposit | 22.1 | (108.1) | 4.6 |
| Other current assets | 18.9 | (27.7) | 17.6 |
| Accounts payable | (254.0) | 121.5 | 126.9 |
| Other current liabilities | 47.5 | 126.9 | (17.2) |
| Other, net | (156.5) | (169.5) | (92.5) |
| Net cash provided by operating activities | 3,018.4 | 2,060.7 | 2,032.7 |
| Investing activities | |||
| Capital expenditures | (2,492.9) | (2,314.9) | (2,252.8) |
| Acquisition of Whitewater | (76.0) | — | — |
| Acquisition of Sapphire Sky, net of cash acquired of $0.3 | (442.6) | — | — |
| Acquisition of Samson I, net of cash acquired of $5.2 | (257.3) | — | — |
| Acquisition of Red Barn | (143.8) | — | — |
| Acquisition of West Riverside | (95.3) | — | — |
| Acquisition of Thunderhead, net of cash acquired of $0.5 | — | (382.0) | — |
| Acquisition of Jayhawk | — | — | (119.9) |
| Capital contributions to transmission affiliates | (63.7) | (45.5) | — |
| Proceeds from the sale of assets | 32.8 | 69.0 | 21.9 |
| Proceeds from the sale of investments held in rabbi trust | 10.4 | 15.4 | 18.7 |
| Payments for ATC's construction costs that will be reimbursed | (19.8) | (24.8) | (7.0) |
| Reimbursement for ATC's construction costs | 0.1 | 10.2 | — |
| Insurance proceeds received for property damage | 2.5 | 41.6 | — |
| Other, net | (12.6) | (11.4) | 27.3 |
| Net cash used in investing activities | (3,558.2) | (2,642.4) | (2,311.8) |
| Financing activities | |||
| Exercise of stock options | 6.3 | 33.6 | 15.7 |
| Purchase of common stock | (16.6) | (69.2) | (33.1) |
| Dividends paid on common stock | (984.2) | (917.9) | (854.8) |
| Issuance of long-term debt | 2,170.0 | 1,999.3 | 2,383.8 |
| Retirement of long-term debt | (1,005.4) | (92.1) | (1,260.4) |
| Repayment of short-term loan | (0.8) | — | (340.0) |
| Change in commercial paper | 373.7 | (252.6) | 459.2 |
| Payments for debt extinguishment and issuance costs | (14.2) | (15.6) | (67.2) |
| Other, net | (6.0) | (9.1) | (9.2) |
| Net cash provided by financing activities | 522.8 | 676.4 | 294.0 |
| Net change in cash, cash equivalents, and restricted cash | (17.0) | 94.7 | 14.9 |
| Cash, cash equivalents, and restricted cash at beginning of year | 182.2 | 87.5 | 72.6 |
| Cash, cash equivalents, and restricted cash at end of year | $165.2 | $182.2 | $87.5 |
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