WEC ENERGY GROUP INC
For the period ended Sep 30, 2024. Filed Nov 1, 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.
Sep 30, 2024 · Filed Nov 1, 2024
WEC$117.01-0.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Balance Sheets
| CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)(in millions, except share and per share amounts) | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $322.5 | $42.9 |
| Accounts receivable and unbilled revenues, net of reserves of $155.0 and $193.5, respectively | 1,175.5 | 1,503.2 |
| Materials, supplies, and inventories | 789.9 | 775.2 |
| Prepaid taxes | 124.5 | 173.9 |
| Other prepayments | 50.7 | 76.8 |
| Other | 156.1 | 223.7 |
| Current assets | 2,619.2 | 2,795.7 |
| Long-term assets | ||
| Property, plant, and equipment, net of accumulated depreciation and amortization of $11,442.8 and $11,073.1, respectively | 32,852.9 | 31,581.5 |
| Regulatory assets (September 30, 2024 and December 31, 2023 include $79.1 and $85.9, respectively, related to WEPCo Environmental Trust) | 3,346.5 | 3,249.8 |
| Equity investment in transmission affiliates | 2,080.8 | 2,005.9 |
| Goodwill | 3,052.8 | 3,052.8 |
| Pension and OPEB assets | 918.1 | 870.9 |
| Other | 326.2 | 383.1 |
| Long-term assets | 42,577.3 | 41,144.0 |
| Total assets | $45,196.5 | $43,939.7 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Short-term debt | $597.0 | $2,020.9 |
| Current portion of long-term debt (September 30, 2024 and December 31, 2023 include $9.1 and $9.0, respectively, related to WEPCo Environmental Trust) | 1,823.7 | 1,264.2 |
| Accounts payable | 740.7 | 896.6 |
| Accrued interest | 202.4 | 154.4 |
| Other | 645.6 | 778.7 |
| Current liabilities | 4,009.4 | 5,114.8 |
| Long-term liabilities | ||
| Long-term debt (September 30, 2024 and December 31, 2023 include $80.9 and $85.3, respectively, related to WEPCo Environmental Trust) | 16,889.2 | 15,512.8 |
| Deferred income taxes | 5,322.2 | 4,918.5 |
| Deferred revenue, net | 339.9 | 356.4 |
| Regulatory liabilities | 3,889.1 | 3,697.7 |
| Intangible liabilities | 554.6 | 594.8 |
| Environmental remediation liabilities | 430.5 | 463.7 |
| AROs | 547.9 | 374.2 |
| Other | 822.5 | 835.3 |
| Long-term liabilities | 28,795.9 | 26,753.4 |
| Commitments and contingencies (Note 23) | ||
| Common shareholders' equity | ||
| Common stock – $0.01 par value; 650,000,000 shares authorized; 316,354,446 and 315,434,531 shares outstanding, respectively | 3.2 | 3.2 |
| Additional paid in capital | 4,191.4 | 4,115.9 |
| Retained earnings | 7,895.3 | 7,612.8 |
| Accumulated other comprehensive loss | (7.9) | (7.7) |
| Common shareholders' equity | 12,082.0 | 11,724.2 |
| Preferred stock of subsidiary | 30.4 | 30.4 |
| Noncontrolling interests | 278.8 | 316.9 |
| Total liabilities and equity | $45,196.5 | $43,939.7 |
| 09/30/2024 Form 10-Q | 6 | WEC Energy Group, Inc. |
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