WEC ENERGY GROUP INC
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
WEC$117.15+1.1%Stored close · as of Nov 9, 2026
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Condensed Consolidated Balance Sheets
| CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)(in millions, except share and per share amounts) | March 31, 2024 | December 31, 2023 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $38.9 | $42.9 |
| Accounts receivable and unbilled revenues, net of reserves of $190.7 and $193.5, respectively | 1,557.0 | 1,503.2 |
| Materials, supplies, and inventories | 608.6 | 775.2 |
| Prepaid taxes | 143.0 | 173.9 |
| Other prepayments | 70.9 | 76.8 |
| Other | 186.2 | 223.7 |
| Current assets | 2,604.6 | 2,795.7 |
| Long-term assets | ||
| Property, plant, and equipment, net of accumulated depreciation and amortization of $11,275.0 and $11,073.1, respectively | 31,729.8 | 31,581.5 |
| Regulatory assets (March 31, 2024 and December 31, 2023 include $84.1 and $85.9, respectively, related to WEPCo Environmental Trust) | 3,247.0 | 3,249.8 |
| Equity investment in transmission affiliates | 2,027.1 | 2,005.9 |
| Goodwill | 3,052.8 | 3,052.8 |
| Pension and OPEB assets | 883.9 | 870.9 |
| Other | 382.0 | 383.1 |
| Long-term assets | 41,322.6 | 41,144.0 |
| Total assets | $43,927.2 | $43,939.7 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Short-term debt | $2,574.2 | $2,020.9 |
| Current portion of long-term debt (March 31, 2024 and December 31, 2023 include $9.0, related to WEPCo Environmental Trust) | 640.5 | 1,264.2 |
| Accounts payable | 640.9 | 896.6 |
| Other | 854.1 | 933.1 |
| Current liabilities | 4,709.7 | 5,114.8 |
| Long-term liabilities | ||
| Long-term debt (March 31, 2024 and December 31, 2023 include $85.4 and $85.3, respectively, related to WEPCo Environmental Trust) | 15,375.8 | 15,512.8 |
| Deferred income taxes | 5,120.0 | 4,918.5 |
| Deferred revenue, net | 351.1 | 356.4 |
| Regulatory liabilities | 3,730.2 | 3,697.7 |
| Intangible liabilities | 581.4 | 594.8 |
| Environmental remediation liabilities | 448.9 | 463.7 |
| AROs | 377.7 | 374.2 |
| Other | 806.3 | 835.3 |
| Long-term liabilities | 26,791.4 | 26,753.4 |
| Commitments and contingencies (Note 20) | ||
| Common shareholders' equity | ||
| Common stock – $0.01 par value; 325,000,000 shares authorized; 315,822,587 and 315,434,531 shares outstanding, respectively | 3.2 | 3.2 |
| Additional paid in capital | 4,145.7 | 4,115.9 |
| Retained earnings | 7,971.6 | 7,612.8 |
| Accumulated other comprehensive loss | (7.8) | (7.7) |
| Common shareholders' equity | 12,112.7 | 11,724.2 |
| Preferred stock of subsidiary | 30.4 | 30.4 |
| Noncontrolling interests | 283.0 | 316.9 |
| Total liabilities and equity | $43,927.2 | $43,939.7 |
| 03/31/2024 Form 10-Q | 6 | WEC Energy Group, Inc. |
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