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$117.01-0.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | Three Months Ended | |
|---|---|---|
| (in millions) | 2024 | 2023 |
| Operating activities | ||
| Net income | $622.6 | $507.6 |
| Reconciliation to cash provided by operating activities | ||
| Depreciation and amortization | 333.4 | 305.5 |
| Deferred income taxes and ITCs, net | 184.3 | 56.5 |
| Contributions and payments related to pension and OPEB plans | (4.0) | (5.5) |
| Equity income in transmission affiliates, net of distributions | (9.1) | (6.4) |
| Change in – | ||
| Accounts receivable and unbilled revenues, net | (61.3) | 60.7 |
| Materials, supplies, and inventories | 166.6 | 293.6 |
| Collateral on deposit | 17.2 | (91.8) |
| Other current assets | 19.7 | 89.4 |
| Accounts payable | (229.8) | (424.7) |
| Other current liabilities | (44.8) | 63.7 |
| Other, net | (131.2) | (52.5) |
| Net cash provided by operating activities | 863.6 | 796.1 |
| Investing activities | ||
| Capital expenditures | (444.5) | (499.4) |
| 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 | — | (249.4) |
| Capital contributions to transmission affiliates | (12.1) | (6.1) |
| Proceeds from the sale of investments held in rabbi trust | 14.8 | 10.4 |
| Other, net | 5.6 | (4.8) |
| Net cash used in investing activities | (436.2) | (1,267.9) |
| Financing activities | ||
| Exercise of stock options | 3.7 | 0.9 |
| Issuance of common stock | 19.2 | — |
| Purchase of common stock | (2.0) | (6.9) |
| Dividends paid on common stock | (263.5) | (246.1) |
| Issuance of long-term debt | — | 1,100.0 |
| Retirement of long-term debt | (756.9) | (35.2) |
| Change in commercial paper | 552.8 | (385.4) |
| Purchase of additional ownership interest in Samson I from noncontrolling interest | (28.1) | — |
| Other, net | (1.7) | (9.7) |
| Net cash provided by (used in) financing activities | (476.5) | 417.6 |
| Net change in cash, cash equivalents, and restricted cash | (49.1) | (54.2) |
| Cash, cash equivalents, and restricted cash at beginning of period | 165.2 | 182.2 |
| Cash, cash equivalents, and restricted cash at end of period | $116.1 | $128.0 |
| 03/31/2024 Form 10-Q | 7 | WEC Energy Group, Inc. |
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