WISCONSIN PUBLIC SERVICE CORP Financial Statements (2025 and earlier)
Company Profile
| Business Address |
700 NORTH ADAMS STREET GREEN BAY, WI 54307-9001 |
| State of Incorp. | WI |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4931 - Electric and Other Services Combined (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 1 | 1 | 2 | 3 | 2 | 9 | |||
| Cash and cash equivalents | 1 | 1 | 2 | 3 | 2 | 9 | |||
| Receivables | (11) | 300 | 253 | 218 | 210 | 217 | |||
| Inventory, net of allowances, customer advances and progress billings | 171 | 165 | 113 | 93 | 106 | 103 | |||
| Inventory | 171 | 165 | 113 | 93 | 106 | 103 | |||
| Prepaid expense | 55 | 64 | 40 | 39 | 63 | 41 | |||
| Derivative instruments and hedges, assets | 4 | 7 | 22 | 2 | 4 | ||||
| Regulatory asset | 0 | ||||||||
| Other current assets | 21 | 29 | 12 | 12 | 11 | 9 | |||
| Other undisclosed current assets | 262 | 37 | 22 | ||||||
| Total current assets: | 503 | 565 | 443 | 365 | 432 | 406 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 44 | 38 | ✕ | ||||||
| Property, plant and equipment | 5,801 | 5,377 | 5,099 | 4,886 | 4,545 | 4,150 | |||
| Intangible assets, net (including goodwill) | 36 | 36 | 36 | 36 | 37 | 38 | |||
| Goodwill | 36 | 36 | 36 | 36 | 36 | 36 | |||
| Intangible assets, net (excluding goodwill) | 1 | 2 | |||||||
| Derivative instruments and hedges | 0 | 4 | 0 | 0 | 0 | ||||
| Regulated entity, other noncurrent assets | 375 | 381 | 362 | 460 | 450 | 495 | |||
| Restricted cash and investments | 38 | ||||||||
| Other noncurrent assets | 45 | 83 | 50 | 38 | 43 | 47 | |||
| Other undisclosed noncurrent assets | 226 | 190 | 243 | 148 | 135 | 81 | |||
| Total noncurrent assets: | 6,528 | 6,144 | 5,793 | 5,569 | 5,210 | 4,812 | |||
| TOTAL ASSETS: | 7,031 | 6,709 | 6,236 | 5,934 | 5,642 | 5,218 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 177 | 131 | 152 | 203 | 145 | ||||
| Employee-related liabilities | ✕ | ✕ | ✕ | 22 | 27 | ||||
| Accounts payable | 177 | 131 | 130 | 177 | 145 | ||||
| Accrued liabilities | |||||||||
| Deferred revenue | ✕ | ||||||||
| Debt | 310 | 195 | 331 | 611 | 92 | 284 | |||
| Derivative instruments and hedges, liabilities | 8 | ||||||||
| Regulatory liability | 9 | ||||||||
| Other liabilities | 94 | 98 | 81 | 59 | 56 | 79 | |||
| Due to related parties | ✕ | ✕ | 50 | 43 | 49 | 69 | 54 | ||
| Other undisclosed current liabilities | 160 | ||||||||
| Total current liabilities: | 580 | 520 | 586 | 870 | 419 | 563 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,008 | 2,000 | 1,691 | 1,245 | 1,643 | ||||
| Long-term debt, excluding current maturities | 1,959 | 1,958 | 1,659 | 1,214 | 1,612 | ||||
| Finance lease, liability | 49 | 42 | 31 | 31 | 31 | ✕ | |||
| Other undisclosed long-term debt and lease obligation | |||||||||
| Liabilities, other than long-term debt | 1,889 | 1,806 | 1,816 | 1,703 | 986 | 1,570 | |||
| Accumulated deferred investment tax credit | 72 | 79 | 75 | 41 | 6 | ||||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 521 | ||
| Deferred income tax liabilities | 924 | 861 | 782 | 683 | ✕ | ||||
| Liability, pension and other postretirement and postemployment benefits | 19 | 19 | 37 | ||||||
| Accrued environmental loss contingencies | 85 | 89 | 95 | 88 | 84 | 90 | |||
| Regulatory liability | 672 | 650 | 736 | 773 | 783 | 786 | |||
| Due to related parties | ✕ | ✕ | 3 | ||||||
| Other liabilities | 136 | 128 | 129 | 98 | 100 | 126 | |||
| Derivative instruments and hedges, liabilities | 0 | ||||||||
| Other undisclosed noncurrent liabilities | 654 | 1,315 | |||||||
| Total noncurrent liabilities: | 3,897 | 3,806 | 3,507 | 2,947 | 3,283 | 2,884 | |||
| Total liabilities: | 4,477 | 4,326 | 4,093 | 3,817 | 3,702 | 3,448 | |||
| Equity | |||||||||
| Equity, attributable to parent | 2,554 | 2,383 | 2,143 | 2,117 | 1,940 | 1,770 | |||
| Common stock | 96 | 96 | 96 | 96 | 96 | 96 | |||
| Additional paid in capital | 1,782 | 1,617 | 1,492 | 1,436 | 1,221 | 1,116 | |||
| Retained earnings | 676 | 671 | 556 | 585 | 623 | 558 | |||
| Total equity: | 2,554 | 2,383 | 2,143 | 2,117 | 1,940 | 1,770 | |||
| TOTAL LIABILITIES AND EQUITY: | 7,031 | 6,709 | 6,236 | 5,934 | 5,642 | 5,218 | |||
Income Statement (P&L) ($ in millions)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,681 | 1,785 | 1,521 | 1,407 | 1,412 | 1,499 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (607) | (845) | (597) | (458) | (541) | (602) | ||
| Gross profit: | 1,075 | 940 | 924 | 949 | 871 | 897 | ||
| Operating expenses | (482) | (405) | (446) | (466) | (438) | (488) | ||
| Other undisclosed operating loss | (227) | (200) | (189) | (174) | (166) | (142) | ||
| Operating income: | 366 | 335 | 289 | 308 | 268 | 266 | ||
| Nonoperating expense | (43) | (28) | (27) | (32) | (24) | (16) | ||
| Other nonoperating income | 46 | 42 | 38 | 31 | 40 | 38 | ||
| Interest and debt expense | (89) | (71) | (65) | (64) | (63) | (54) | ||
| Income from continuing operations before equity method investments, income taxes: | 234 | 237 | 198 | 213 | 180 | 196 | ||
| Other undisclosed income from continuing operations before income taxes | 89 | 71 | 65 | 64 | 63 | 54 | ||
| Income from continuing operations before income taxes: | 323 | 307 | 262 | 276 | 244 | 250 | ||
| Income tax expense | (63) | (72) | (31) | (55) | (59) | (77) | ||
| Income from continuing operations: | 260 | 235 | 231 | 222 | 185 | 173 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 231 | 222 | 185 | 173 | |
| Net income available to common stockholders, diluted: | 260 | 235 | 231 | 222 | 185 | 173 | ||
Comprehensive Income ($ in millions)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 260 | 235 | 231 | 222 | 185 | 173 | ||
| Comprehensive income, net of tax, attributable to parent: | 260 | 235 | 231 | 222 | 185 | 173 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.