WEC Energy Group, Inc. (WEC) financial statements (2021 and earlier)

Company profile

Business Address 231 W MICHIGAN ST
MILWAUKEE, WI 53201
State of Incorp. WI
Fiscal Year End December 31
SIC 4931 - Electric and Other Services Combined (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments38853938506226
Cash and cash equivalents38853938506226
Receivables1,1771,2811,3511,2421,029352406
Inventory, net of allowances, customer advances and progress billings550548539588687401134
Inventory550548539588687401134
Prepaid expense262257210204286148146
Assets held-for-sale, not part of disposal group    97
Deferred tax assets    243310
Other current assets68777598593913
Other undisclosed current assets     291517
Total current assets:2,0942,2482,2142,1692,2071,5351,551
Noncurrent Assets
Property, plant and equipment23,62022,00121,34719,91619,19011,25810,907
Long-term investments and receivables1,7211,6651,5531,4441,467457439
Long-term investments1,7211,6651,5531,4441,467457439
Intangible assets, net (including goodwill)3,0533,0533,0543,0463,024442442
Goodwill3,0533,0533,0543,0463,024442442
Regulated entity, other noncurrent assets3,5073,8052,8033,0883,0651,2711,109
Other noncurrent assets958704620461404200323
Deferred tax assets, net    (2,907)(2,634)
Other undisclosed noncurrent assets     2,9072,634
Total noncurrent assets:32,85831,22829,37727,95527,14813,62813,218
TOTAL ASSETS:34,95233,47631,59130,12329,35515,16314,769
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,1081,0621,0291,025985458440
Accounts payable908876860862815363343
Employee-related liabilities2001851691641709597
Debt1,5241,8052,2871,0171,2531,042880
Deferred tax liabilities    4070
Other liabilities551465554389471169177
Other undisclosed current liabilities     (40)(70)
Total current liabilities:3,1833,3323,8692,4322,7091,6691,496
Noncurrent Liabilities
Long-term debt and lease obligation, including:11,2119,9948,7709,1859,1544,1864,363
Long-term debt, excluding current maturities11,171 8,7479,1589,1244,1864,363
Finance lease, liability40
Capital lease obligations182327306085
Operating lease, liability37
Other undisclosed long-term debt and lease obligation(37)9,976   (60)(85)
Liabilities, other than long-term debt6,5389,7899,4839,5738,8375,2775,121
Deferred revenue and credits543566579614664
Pension and other postretirement defined benefit plans, liabilities173
Deferred revenue497
Deferred tax liabilities, net3,3883,0005,1474,6223,3263,109
Liability, pension and other postretirement and postemployment benefits326423397499543204
Accrued environmental loss contingencies589616617634628  
Regulatory liability3,9934,2523,7191,5641,392831879
Other liabilities1,1291,1081,2061,1641,072303296
Derivative instruments and hedges, liabilities42     
Other undisclosed noncurrent liabilities3,765518(23)(27)   
Total noncurrent liabilities:21,51520,30118,22918,73117,9919,4649,484
Total liabilities:24,69723,63322,09921,16320,70011,13210,981
Stockholders' equity
Stockholders' equity attributable to parent, including:10,1449,8199,4928,9608,6854,4204,233
Preferred stock30303030303030
Common stock333334,4204,233
Additional paid in capital4,1874,2504,2794,3104,347  
Accumulated other comprehensive income (loss)(4)(3)335  
Retained earnings5,9285,5385,1774,6144,300  
Other undisclosed stockholders' equity attributable to parent     (30)(30)
Stockholders' equity attributable to noncontrolling interest11123     
Total stockholders' equity:10,2559,8439,4928,9608,6854,4204,233
Other undisclosed liabilities and equity    (30)(389)(444)
TOTAL LIABILITIES AND EQUITY:34,95233,47631,59130,12329,35515,16314,769

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues7,5237,6807,6497,4725,9264,9974,519
Revenue, net   5,0154,567
Cost of revenue(3,528)(3,668)(5,571)(4,772)(2,240)(1,223) 
Cost of goods and services sold(2,679)(2,898)(2,823)(2,647)(2,240)(1,223) 
Gross profit:3,9954,0122,0772,7013,6863,7744,519
Operating expenses(2,464)(2,543)(292)(1,019)(726)(547)(507)
Other undisclosed operating loss    (1,709)(2,114)(2,932)
Operating income:1,5311,4681,7851,6821,2511,1121,080
Nonoperating income (expense)(272)(238)(197)(175)(176)1937
Public utilities, allowance for funds used during construction, capitalized cost of equity     618
Other nonoperating income102706581591319
Interest and debt expense(502)(445)(416)24(331)(242)(252)
Other undisclosed income from continuing operations before equity method investments, income taxes     6050
Income from continuing operations before equity method investments, income taxes:7587851,1731,530743950915
Income from equity method investments     6668
Other undisclosed income (loss) from continuing operations before income taxes502445416(24)331  
Income from continuing operations before income taxes:1,2601,2301,5881,5071,0741,016984
Income tax expense(125)(170)(384)(567)(434)(362)(338)
Income before gain (loss) on sale of properties:1,1351,0611,205940640654646
Other undisclosed net loss     (66)(68)
Net income:1,1351,0611,205940640588577
Net income attributable to noncontrolling interest1      
Net income attributable to parent:1,1351,0611,205940640588577
Other undisclosed net loss available to common stockholders, basic(1)(1)(1)(1)(2)  
Net income available to common stockholders, diluted:1,1341,0591,204939639588577

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:1,1351,0611,205940640588577
Other comprehensive income (loss)(2)(6)(1)(2)4  
Other undisclosed comprehensive income  1    
Comprehensive income:1,1331,0551,205939645588577
Comprehensive income, net of tax, attributable to noncontrolling interest1      
Other undisclosed comprehensive loss, net of tax, attributable to parent(1)(1)(1)(1)(2)  
Comprehensive income, net of tax, attributable to parent:1,1331,0541,204937643588577

Statements sources

The financial statements are based on the company's filings with the 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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