Wisconsin Electric Power Co (WELPP) financial statements (2021 and earlier)

Company profile

Business Address 231 W MICHIGAN ST
MILWAUKEE, WI 53290-0001
State of Incorp. WI
Fiscal Year End December 31
SIC 4911 - Electric Services (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 investments7192012152724
Cash and cash equivalents7192012152724
Receivables534521585623561461273
Inventory, net of allowances, customer advances and progress billings220230241251271302321
Inventory220230241251271302321
Prepaid expense99104164144138172140
Derivative instruments and hedges, assets     5 
Deferred tax assets    47
Other current assets363469252019
Other undisclosed current assets     36223
Total current assets:8969081,0161,0401,0101,0231,046
Noncurrent Assets
Property, plant and equipment9,7909,5879,52910,0089,8329,7689,494
Long-term investments and receivables    402383373
Long-term investments    402383373
Derivative instruments and hedges     1 
Regulated entity, other noncurrent assets2,8032,7552,9021,9852,03741,627
Other noncurrent assets116111918990 106
Deferred tax assets, net    (1,964)
Other undisclosed noncurrent assets     1,9631,964
Total noncurrent assets:12,71012,45312,52212,08212,36112,11711,601
TOTAL ASSETS:13,60513,36113,53813,12213,37213,14012,647
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities330331299441396374374
Accounts payable261268249329298286287
Employee-related liabilities43515053528887
Taxes payable2512 5846  
Debt659116135211188268662
Due to related parties1721852261321139688
Deferred tax liabilities    40
Other liabilities97106117112100116114
Other undisclosed current liabilities 583002931920(17)
Total current liabilities:1,2577951,0771,1888158731,261
Noncurrent Liabilities
Long-term debt and lease obligation, including:5,2365,5515,2672,8245,4185,3512,166
Long-term debt, excluding current maturities2,4612,759   2,6592,166
Finance lease, liability2,7742,783
Capital lease obligations2,8072,8242,7572,6932,713
Operating lease, liability 8
Other undisclosed long-term debt and lease obligation  2,460 2,661 (2,713)
Liabilities, other than long-term debt3,4202,0853,7033,2843,6153,3213,426
Deferred tax liabilities, net1,2981,1562,3332,1102,325
Deferred income tax liabilities1,357 
Liability, pension and other postretirement and postemployment benefits8660119143168211255
Regulatory liability1,7041,7442,0021,708854741616
Other liabilities273281284277260259231
Derivative instruments and hedges, liabilities 0     
Other undisclosed noncurrent liabilities 1,339 2,412   
Total noncurrent liabilities:8,6558,9758,9708,5209,0338,6735,591
Other undisclosed liabilities 30303030  
Total liabilities:9,9139,80010,0789,7389,8789,5456,852
Stockholders' equity
Stockholders' equity attributable to parent, including:3,6933,5923,4913,4143,5243,5943,413
Preferred stock30303030303030
Common stock3333333333333333333,413
Additional paid in capital1,0609308318031,0201,000984
Retained earnings2,2692,2992,2972,2482,1412,2312,096
Other undisclosed stockholders' equity attributable to parent      (3,110)
Other undisclosed stockholders' equity (30)(30)(30)(30)  
Total stockholders' equity:3,6933,5613,4613,3843,4943,5943,413
Other undisclosed liabilities and equity      2,382
TOTAL LIABILITIES AND EQUITY:13,60513,36113,53813,12213,37213,14012,647

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
Revenues3,3673,4973,6253,7123,7933,8544,059
Revenue, net   4,077
Cost of revenue
(Cost of Goods and Services Sold)
(1,075)(1,191)(1,262)(1,286)(1,292)(1,399)(1,228)
Gross profit:2,2922,3062,3632,4252,5012,4552,831
Operating expenses(1,005)(1,161)(1,612)(110)(441)(421)(426)
Other undisclosed operating loss(427)(384)(348)(1,690)(1,430)(1,385)(1,755)
Operating income:861760403626630649650
Nonoperating income1923202091113
Public utilities, allowance for funds used during construction, capitalized cost of equity      4
Other nonoperating income192320209119
Interest and debt expense(468)(477)(120)(117)(118)(119)(117)
Other undisclosed income from continuing operations before equity method investments, income taxes    564854
Income from continuing operations before equity method investments, income taxes:412306303528577589601
Income from equity method investments      58
Income from continuing operations before income taxes:412306303528577589658
Income tax expense (benefit)(45)5857(191)(211)(212)(223)
Net income:367363360337366377436
Other undisclosed net loss attributable to parent      (58)
Net income attributable to parent:367363360337366377378
Preferred stock dividends and other adjustments(1)     (1)
Other undisclosed net loss available to common stockholders, basic (1)(1)(1)(1)(1) 
Net income available to common stockholders, diluted:366362358336364376377

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:367363360337366377436
Comprehensive income, net of tax, attributable to parent:367363360337366377436

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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