WEC ENERGY GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
WEC$117.15+1.1%Stored close · as of Nov 9, 2026
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D. Consolidated Balance Sheets
| (in millions, except share and per share amounts) | 2025 | 2024 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $27.6 | $9.8 |
| Accounts receivable and unbilled revenues, net of reserves of $148.7 and $162.8, respectively | 2,062.7 | 1,669.3 |
| Materials, supplies, and inventories | 803.4 | 813.2 |
| Prepaid taxes | 178.8 | 214.9 |
| Other prepayments | 92.4 | 82.6 |
| Other | 119.8 | 121.9 |
| Current assets | 3,284.7 | 2,911.7 |
| Long-term assets | ||
| Property, plant, and equipment, net of accumulated depreciation and amortization of $12,411.5 and $11,611.9, respectively | 38,278.1 | 34,645.4 |
| Regulatory assets (December 31, 2025 and December 31, 2024 include $67.5 and $76.5, respectively, related to WEPCo Environmental Trust) | 3,156.3 | 3,339.7 |
| Equity investment in transmission affiliates | 2,280.4 | 2,108.9 |
| Goodwill | 3,052.8 | 3,052.8 |
| Pension and OPEB assets | 1,082.4 | 968.5 |
| Other | 383.6 | 336.2 |
| Long-term assets | 48,233.6 | 44,451.5 |
| Total assets | $51,518.3 | $47,363.2 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Short-term debt | $1,924.7 | $1,116.6 |
| Current portion of long-term debt (December 31, 2025 and December 31, 2024 include $9.3 and $9.2, respectively, related to WEPCo Environmental Trust) | 1,519.4 | 1,729.0 |
| Accounts payable | 1,140.1 | 1,137.1 |
| Other | 1,009.2 | 859.2 |
| Current liabilities | 5,593.4 | 4,841.9 |
| Long-term liabilities | ||
| Long-term debt (December 31, 2025 and December 31, 2024 include $67.4 and $76.4, respectively, related to WEPCo Environmental Trust) | 18,498.1 | 17,178.1 |
| Finance lease obligations | 372.0 | 303.3 |
| Deferred income taxes | 5,891.7 | 5,514.7 |
| Deferred revenue, net | 314.2 | 334.6 |
| Regulatory liabilities | 4,121.3 | 3,958.0 |
| Intangible liabilities | 580.3 | 566.8 |
| Environmental remediation liabilities | 484.1 | 445.8 |
| AROs | 647.0 | 580.0 |
| Other | 963.4 | 838.1 |
| Long-term liabilities | 31,872.1 | 29,719.4 |
| Commitments and contingencies (Note 24) | ||
| Common shareholders' equity | ||
| Common stock – $0.01 par value; 650,000,000 shares authorized; 325,461,519 and 317,680,855 shares outstanding, respectively | 3.3 | 3.2 |
| Additional paid in capital | 5,124.4 | 4,315.8 |
| Retained earnings | 8,493.5 | 8,083.8 |
| Accumulated other comprehensive loss | (7.6) | (7.8) |
| Common shareholders' equity | 13,613.6 | 12,395.0 |
| Preferred stock of subsidiary | 30.4 | 30.4 |
| Noncontrolling interests | 408.8 | 376.5 |
| Total liabilities and equity | $51,518.3 | $47,363.2 |
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