WEC ENERGY GROUP INC
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Operating activities | |||
| Net income | $1,524.3 | $1,331.7 | $1,409.7 |
| Reconciliation to cash provided by operating activities | |||
| Depreciation and amortization | 1,354.5 | 1,264.2 | 1,122.6 |
| Deferred income taxes and ITCs, net | 529.0 | 219.4 | 280.1 |
| Impairment related to ICC disallowances | 12.1 | 178.9 | — |
| Contributions and payments related to pension and OPEB plans | (14.5) | (16.7) | (15.1) |
| Equity income in transmission affiliates, net of distributions | (57.4) | (33.0) | (74.3) |
| Net change in transmission regulatory assets and liabilities | (22.8) | 19.8 | (85.8) |
| Net loss (gain) on disposition of assets | 0.7 | (23.8) | (66.2) |
| Change in – | |||
| Accounts receivable and unbilled revenues, net | (161.5) | 340.6 | (342.1) |
| Materials, supplies, and inventories | (38.0) | 41.9 | (171.3) |
| Collateral on deposit | 84.3 | 22.1 | (108.1) |
| Other current assets | (75.4) | 36.3 | 32.3 |
| Accounts payable | 99.7 | (254.0) | 121.5 |
| Other current liabilities | 11.6 | 47.5 | 126.9 |
| Other, net | (34.8) | (156.5) | (169.5) |
| Net cash provided by operating activities | 3,211.8 | 3,018.4 | 2,060.7 |
| Investing activities | |||
| Capital expenditures | (2,781.1) | (2,492.9) | (2,314.9) |
| Acquisition of Delilah I, net of cash acquired of $0.6 | (462.5) | — | — |
| Acquisition of Maple Flats, net of cash acquired of $0.5 | (431.2) | — | — |
| Acquisition of West Riverside | (97.9) | (95.3) | — |
| Acquisition of Red Barn | (2.1) | (143.8) | — |
| 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 Thunderhead, net of cash acquired of $0.5 | — | — | (382.0) |
| Capital contributions to transmission affiliates | (45.5) | (63.7) | (45.5) |
| Proceeds from the sale of assets | 1.7 | 32.8 | 69.0 |
| Insurance proceeds received for property damage | 6.0 | 2.5 | 41.6 |
| Other, net | 10.1 | (21.9) | (10.6) |
| Net cash used in investing activities | (3,802.5) | (3,558.2) | (2,642.4) |
| Financing activities | |||
| Exercise of stock options | 23.7 | 6.3 | 33.6 |
| Issuance of common stock, net | 163.4 | — | — |
| Purchase of common stock | (3.2) | (16.6) | (69.2) |
| Dividends paid on common stock | (1,056.2) | (984.2) | (917.9) |
| Issuance of long-term debt | 4,460.9 | 2,170.0 | 1,999.3 |
| Retirement of long-term debt | (2,138.0) | (1,005.4) | (92.1) |
| Change in commercial paper | (902.8) | 373.7 | (252.6) |
| Purchase of additional ownership interest in Samson I from noncontrolling interest | (28.1) | — | — |
| Payments for debt extinguishment and issuance costs | (45.9) | (14.2) | (15.6) |
| Other, net | (6.1) | (6.8) | (9.1) |
| Net cash provided by financing activities | 467.7 | 522.8 | 676.4 |
| Net change in cash, cash equivalents, and restricted cash | (123.0) | (17.0) | 94.7 |
| Cash, cash equivalents, and restricted cash at beginning of year | 165.2 | 182.2 | 87.5 |
| Cash, cash equivalents, and restricted cash at end of year | $42.2 | $165.2 | $182.2 |
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