WISCONSIN PUBLIC SERVICE CORP Financial Statements (2024 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 thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,3002,700500 3002,000
Cash and cash equivalents2,3002,700500 3002,000
Receivables(10,600)(13,200)299,600240,500284,200252,500
Inventory, net of allowances, customer advances and progress billings148,400140,200164,500168,900113,70082,500
Inventory148,400140,200164,500168,900113,70082,500
Prepaid expense59,50043,50064,40030,00051,70029,600
Derivative instruments and hedges, assets8,5004,1007,20026,20032,20027,600
Other current assets8,8004,40028,9009,4008,60011,000
Other undisclosed current assets266,900339,700    
Total current assets:483,800521,400565,100475,000490,700405,200
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   38,000   
Property, plant and equipment5,659,3005,444,3005,376,7005,290,5005,211,7005,119,700
Intangible assets, net (including goodwill)41,70036,40036,40036,40036,40036,400
Goodwill36,40036,40036,40036,40036,40036,400
Intangible assets, net (excluding goodwill)5,300     
Derivative instruments and hedges3003004001,6003,0002,500
Regulated entity, other noncurrent assets359,900375,400381,000351,200353,900343,700
Restricted cash and investments   38,000   
Other noncurrent assets47,70050,80083,00049,10052,40050,200
Other undisclosed noncurrent assets288,900287,900190,200286,700276,100266,800
Total noncurrent assets:6,397,8006,195,1006,143,7006,015,5005,933,5005,819,300
TOTAL ASSETS:6,881,6006,716,5006,708,8006,490,5006,424,2006,224,500
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 47,300176,900175,600184,700126,500
Interest and dividends payable21,500
Accounts payable   176,900175,600184,700105,000
Accrued liabilities 47,300    
Deferred revenue22,40020,000    
Debt181,90045,000194,900271,400178,500135,000
Derivative instruments and hedges, liabilities16,700     
Regulatory liability22,00036,300    
Due to related parties49,80044,00049,10035,400
Other liabilities58,80012,70098,20089,500116,50087,600
Other undisclosed current liabilities147,000196,100    
Total current liabilities:448,800357,400519,800580,500528,800384,500
Noncurrent Liabilities
Long-term debt and lease obligation, including:2,007,0002,000,1001,999,9001,701,3001,700,1001,690,900
Long-term debt, excluding current maturities   1,958,000 1,700,1001,690,900
Finance lease, liability   41,900   
Other undisclosed long-term debt and lease obligation2,007,0002,000,100 1,701,300  
Liabilities, other than long-term debt1,841,9001,809,3001,805,8001,836,1001,853,9001,834,300
Accumulated deferred investment tax credit76,50077,50078,50074,70074,80074,800
Deferred income tax liabilities891,300870,700860,700835,900832,800807,000
Accrued environmental loss contingencies80,70084,50088,60087,70089,50093,300
Regulatory liability658,300648,600650,300703,100723,900732,000
Other liabilities135,100128,000127,700134,700132,900127,200
Total noncurrent liabilities:3,848,9003,809,4003,805,7003,537,4003,554,0003,525,200
Total liabilities:4,297,7004,166,8004,325,5004,117,9004,082,8003,909,700
Equity
Equity, attributable to parent2,583,9002,549,7002,383,3002,372,6002,341,4002,314,800
Common stock95,60095,60095,60095,60095,60095,600
Additional paid in capital1,782,0001,781,9001,616,8001,616,7001,616,7001,616,700
Retained earnings706,300672,200670,900660,300629,100602,500
Total equity:2,583,9002,549,7002,383,3002,372,6002,341,4002,314,800
TOTAL LIABILITIES AND EQUITY:6,881,6006,716,5006,708,8006,490,5006,424,2006,224,500

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues381,000491,500452,500435,300418,500478,900
Cost of revenue
(Cost of Goods and Services Sold)
(117,800)(227,400)(234,400)(198,500)(184,700)(227,500)
Gross profit:263,200264,100218,100236,800233,800251,400
Operating expenses(117,100)(120,100)(104,900)(100,300)(105,100)(94,600)
Other undisclosed operating loss(56,200)(55,000)(50,500)(50,100)(49,500)(49,700)
Operating income:89,90089,00062,70086,40079,200107,100
Nonoperating expense(9,500)(10,100)(10,400)(6,300)(5,000)(6,500)
Other nonoperating income12,70011,7009,60011,00011,60010,100
Interest and debt expense(22,200)(21,800)(20,000)(17,300)(16,600)(16,600)
Income from continuing operations before equity method investments, income taxes:58,20057,10032,30062,80057,60084,000
Other undisclosed income from continuing operations before income taxes22,20021,80020,00017,30016,60016,600
Income from continuing operations before income taxes:80,40078,90052,30080,10074,200100,600
Income tax expense(16,300)(12,600)(11,700)(18,900)(17,600)(24,000)
Income from continuing operations:64,10066,30040,60061,20056,60076,600
Income before gain (loss) on sale of properties:61,20056,60076,600
Net income available to common stockholders, diluted:64,10066,30040,60061,20056,60076,600

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:64,10066,30040,60061,20056,60076,600
Comprehensive income, net of tax, attributable to parent:64,10066,30040,60061,20056,60076,600

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.

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