Wisconsin Electric Power Co (WELPP) Financial Statements (2024 and earlier)

Company Profile

Business Address 231 W MICHIGAN ST
MILWAUKEE, WI 53290-0001
State of Incorp. WI
Fiscal Year End December 31
Industry (SIC) 4911 - Electric Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6 7192012
Cash and cash equivalents6 7192012
Restricted cash and investments      
Receivables696645534521585623
Inventory, net of allowances, customer advances and progress billings293246220230241251
Inventory293246220230241251
Prepaid expense1399799104164144
Derivative instruments and hedges, assets      
Other current assets7483363469
Other undisclosed current assets      
Total current assets:1,2071,0718969081,0161,040
Noncurrent Assets
Property, plant and equipment10,71910,1169,7909,5879,52910,008
Derivative instruments and hedges 6    
Regulated entity, other noncurrent assets2,8182,7752,8032,7552,9021,985
Restricted cash and investments 1    
Other noncurrent assets134981161119189
Other undisclosed noncurrent assets14379    
Total noncurrent assets:13,81313,07412,71012,45312,52212,082
TOTAL ASSETS:15,02014,14513,60513,36113,53813,122
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities401348330331299441
Taxes payable 2512 58
Employee-related liabilities 43515053
Accounts payable 401348261268249329
Accrued liabilities      
Debt582493659116135211
Derivative instruments and hedges, liabilities      
Regulatory liability      
Due to related parties179171172185226132
Other liabilities21115697106117112
Other undisclosed current liabilities   58300293
Total current liabilities:1,3721,1671,2577951,0771,188
Noncurrent Liabilities
Long-term debt and lease obligation, including:6,0545,5815,2365,5515,2672,824
Long-term debt, excluding current maturities3,3522,8632,4612,759  
Capital lease obligations2,8072,824
Finance lease, liability2,7022,7182,7742,783
Other undisclosed long-term debt and lease obligation     2,460 
Liabilities, other than long-term debt3,4273,4513,4202,0853,7033,284
Deferred tax liabilities, net1,2981,156
Deferred income tax liabilities1,4671,4021,357 
Liability, pension and other postretirement and postemployment benefits 31398660119143
Regulatory liability1,6371,7231,7041,7442,0021,708
Other liabilities291288273281284277
Operating lease, liability    8
Derivative instruments and hedges, liabilities    0  
Other undisclosed noncurrent liabilities    1,339 2,412
Total noncurrent liabilities:9,4819,0328,6558,9758,9708,520
Other undisclosed liabilities    303030
Total liabilities:10,85310,2009,9139,80010,0789,738
Equity
Equity, attributable to parent4,1673,9453,6933,5923,4913,414
Preferred stock303030303030
Common stock333333333333333333
Additional paid in capital1,7471,2911,060930831803
Retained earnings2,0572,2912,2692,2992,2972,248
Other undisclosed equity    (30)(30)(30)
Total equity:4,1673,9453,6933,5613,4613,384
TOTAL LIABILITIES AND EQUITY:15,02014,14513,60513,36113,53813,122

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues4,0703,6653,3673,4973,6253,712
Cost of revenue
(Cost of Goods and Services Sold)
(1,693)(1,341)(1,075)(1,191)(1,262)(1,286)
Gross profit:2,3772,3232,2922,3062,3632,425
Operating expenses(957)(997)(1,005)(1,161)(1,612)(110)
Other undisclosed operating loss(480)(458)(427)(384)(348)(1,690)
Operating income:940869861760403626
Nonoperating income
(Other Nonoperating income)
493219232020
Interest and debt expense(458)(460)(468)(477)(120)(117)
Income from continuing operations before income taxes:531441412306303528
Income tax expense (benefit)(133)(58)(45)5857(191)
Income from continuing operations:398382367363360337
Income before gain (loss) on sale of properties:382367363360337
Net income attributable to parent:398382367363360337
Preferred stock dividends and other adjustments(1)(1)(1)   
Other undisclosed net loss available to common stockholders, basic    (1)(1)(1)
Net income available to common stockholders, diluted:397381366362358336

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:398382367363360337
Comprehensive income, net of tax, attributable to parent:398382367363360337

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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