WEC ENERGY GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 20, 2026
WEC$117.01-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
E. Consolidated Statements of Cash Flows
| (in millions) | 2025 | 2024 | 2023 |
|---|---|---|---|
| Operating activities | |||
| Net income | $1,555.5 | $1,524.3 | $1,331.7 |
| Reconciliation to cash provided by operating activities | |||
| Depreciation and amortization | 1,478.5 | 1,354.5 | 1,264.2 |
| Deferred income taxes and ITCs, net | 368.5 | 529.0 | 219.4 |
| Impairments related to Illinois segment | 130.0 | 12.1 | 178.9 |
| Contributions and payments related to pension and OPEB plans | (13.7) | (14.5) | (16.7) |
| Equity income in transmission affiliates, net of distributions | (29.2) | (57.4) | (33.0) |
| Change in – | |||
| Accounts receivable and unbilled revenues, net | (411.8) | (161.5) | 340.6 |
| Materials, supplies, and inventories | 9.8 | (38.0) | 41.9 |
| Prepaid taxes | 36.1 | (41.0) | 27.9 |
| Collateral on deposit | (25.4) | 84.3 | 22.1 |
| Other current assets | 11.4 | (34.4) | 8.4 |
| Accounts payable | 46.4 | 99.7 | (254.0) |
| Amounts refundable to customers | 43.6 | (2.2) | (9.0) |
| Other current liabilities | 86.5 | 13.8 | 56.5 |
| Other, net | 93.2 | (56.9) | (160.5) |
| Net cash provided by operating activities | 3,379.4 | 3,211.8 | 3,018.4 |
| Investing activities | |||
| Capital expenditures | (4,398.1) | (2,781.1) | (2,492.9) |
| Acquisition of Hardin III, net of cash acquired of $0.2 | (406.1) | — | — |
| 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) |
| Capital contributions to transmission affiliates | (142.4) | (45.5) | (63.7) |
| Reimbursement for ATC's transmission infrastructure upgrades | 39.8 | 8.1 | 0.1 |
| Other, net | 32.1 | 9.7 | 13.3 |
| Net cash used in investing activities | (4,874.7) | (3,802.5) | (3,558.2) |
| Financing activities | |||
| Exercise of stock options | 39.1 | 23.7 | 6.3 |
| Issuance of common stock, net | 761.9 | 163.4 | — |
| Purchase of common stock | (1.3) | (3.2) | (16.6) |
| Dividends paid on common stock | (1,147.8) | (1,056.2) | (984.2) |
| Issuance of long-term debt | 2,844.5 | 4,460.9 | 2,170.0 |
| Retirement of long-term debt | (1,728.9) | (2,138.0) | (1,005.4) |
| Change in commercial paper | 806.9 | (902.8) | 373.7 |
| Purchase of additional ownership interest in Samson I from noncontrolling interest | — | (28.1) | — |
| Payments for debt extinguishment and issuance costs | (39.9) | (45.9) | (14.2) |
| Other, net | (10.5) | (6.1) | (6.8) |
| Net cash provided by financing activities | 1,524.0 | 467.7 | 522.8 |
| Net change in cash, cash equivalents, and restricted cash | 28.7 | (123.0) | (17.0) |
| Cash, cash equivalents, and restricted cash at beginning of year | 42.2 | 165.2 | 182.2 |
| Cash, cash equivalents, and restricted cash at end of year | $70.9 | $42.2 | $165.2 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.