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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments25388539385062
Cash and cash equivalents25388539385062
Receivables1,2031,1771,2811,3511,2421,029352
Inventory, net of allowances, customer advances and progress billings529550548539588687401
Inventory529550548539588687401
Prepaid expense263262257210204286148
Assets held-for-sale, not part of disposal group     97
Deferred tax assets    243
Other current assets63687775985939
Other undisclosed current assets      291
Total current assets:2,0832,0942,2482,2142,1692,2071,535
Noncurrent Assets
Property, plant and equipment25,70723,62022,00121,34719,91619,19011,258
Long-term investments and receivables1,7641,7211,6651,5531,4441,467457
Long-term investments1,7641,7211,6651,5531,4441,467457
Intangible assets, net (including goodwill)3,0533,0533,0533,0543,0463,024442
Goodwill3,0533,0533,0533,0543,0463,024442
Regulated entity, other noncurrent assets3,5243,5073,8052,8033,0883,0651,271
Other noncurrent assets897958704620461404200
Deferred tax assets, net    (2,907)
Other undisclosed noncurrent assets      2,907
Total noncurrent assets:34,94532,85831,22829,37727,95527,14813,628
TOTAL ASSETS:37,02834,95233,47631,59130,12329,35515,163
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,0551,1081,0621,0291,025985458
Accounts payable881908876860862815363
Employee-related liabilities17420018516916417095
Debt2,5631,5241,8052,2871,0171,2531,042
Deferred tax liabilities    40
Other liabilities531551465554389471169
Other undisclosed current liabilities      (40)
Total current liabilities:4,1483,1833,3323,8692,4322,7091,669
Noncurrent Liabilities
Long-term debt and lease obligation, including:11,72811,2119,9948,7709,1859,1544,186
Long-term debt, excluding current maturities11,67311,171 8,7479,1589,1244,186
Finance lease, liability5540
Capital lease obligations1823273060
Operating lease, liability 37
Other undisclosed long-term debt and lease obligation (37)9,976   (60)
Liabilities, other than long-term debt10,4896,5389,7899,4839,5738,8375,277
Deferred revenue and credits543566579614
Deferred revenue412497
Deferred tax liabilities, net3,3883,0005,1474,6223,326
Deferred income tax liabilities4,060 
Liability, pension and other postretirement and postemployment benefits327326423397499543204
Accrued environmental loss contingencies533589616617634628 
Regulatory liability3,9283,9934,2523,7191,5641,392831
Other liabilities1,2291,1291,1081,2061,1641,072303
Derivative instruments and hedges, liabilities 42    
Other undisclosed noncurrent liabilities 3,765518(23)(27)  
Total noncurrent liabilities:22,21821,51520,30118,22918,73117,9919,464
Total liabilities:26,36624,69723,63322,09921,16320,70011,132
Stockholders' equity
Stockholders' equity attributable to parent, including:10,50010,1449,8199,4928,9608,6854,420
Preferred stock30303030303030
Common stock3333334,420
Additional paid in capital4,1444,1874,2504,2794,3104,347 
Accumulated other comprehensive income (loss)(7)(4)(3)335 
Retained earnings6,3305,9285,5385,1774,6144,300 
Other undisclosed stockholders' equity attributable to parent      (30)
Stockholders' equity attributable to noncontrolling interest16211123    
Total stockholders' equity:10,66310,2559,8439,4928,9608,6854,420
Other undisclosed liabilities and equity     (30)(389)
TOTAL LIABILITIES AND EQUITY:37,02834,95233,47631,59130,12329,35515,163

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues7,2427,5237,6807,6497,4725,9264,997
Revenue, net   5,015
Cost of revenue(3,130)(3,528)(3,668)(5,571)(4,772)(2,240)(1,223)
Cost of goods and services sold(2,320)(2,679)(2,898)(2,823)(2,647)(2,240)(1,223)
Gross profit:4,1123,9954,0122,0772,7013,6863,774
Operating expenses(2,406)(2,464)(2,543)(292)(1,019)(726)(547)
Other undisclosed operating loss     (1,709)(2,114)
Operating income:1,7061,5311,4681,7851,6821,2511,112
Nonoperating income (expense)(277)(272)(238)(197)(175)(176)19
Public utilities, allowance for funds used during construction, capitalized cost of equity      6
Other nonoperating income801027065815913
Interest and debt expense(38)(502)(445)(416)24(331)(242)
Other undisclosed income from continuing operations before equity method investments, income taxes      60
Income from continuing operations before equity method investments, income taxes:1,3917587851,1731,530743950
Income from equity method investments      66
Other undisclosed income (loss) from continuing operations before income taxes38502445416(24)331 
Income from continuing operations before income taxes:1,4291,2601,2301,5881,5071,0741,016
Income tax expense(228)(125)(170)(384)(567)(434)(362)
Income before gain (loss) on sale of properties:1,2011,1351,0611,205940640654
Other undisclosed net loss      (66)
Net income:1,2011,1351,0611,205940640588
Net income (loss) attributable to noncontrolling interest(0)1     
Net income attributable to parent:1,2011,1351,0611,205940640588
Preferred stock dividends and other adjustments(1)      
Other undisclosed net loss available to common stockholders, basic (1)(1)(1)(1)(2) 
Net income available to common stockholders, diluted:1,2001,1341,0591,204939639588

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:1,2011,1351,0611,205940640588
Other comprehensive income (loss)(3)(2)(6)(1)(2)4 
Other undisclosed comprehensive income   1   
Comprehensive income:1,1991,1331,0551,205939645588
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(0)1     
Other undisclosed comprehensive loss, net of tax, attributable to parent(1)(1)(1)(1)(1)(2) 
Comprehensive income, net of tax, attributable to parent:1,1971,1331,0541,204937643588

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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