Company: WELPM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000107815-25-000207
Chunk: 41

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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ITEM 1. FINANCIAL STATEMENTS

WISCONSIN ELECTRIC POWER COMPANY

CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited)Three Months EndedNine Months EndedSeptember 30September 30(in millions)2025202420252024Operating revenues$1,201.9 $1,079.3 $3,391.8 $3,020.1 Operating expensesCost of sales401.2 353.9 1,127.1 986.0 Other operation and maintenance271.2 241.6 773.1 720.6 Depreciation and amortization160.4 145.5 467.6 427.1 Property and revenue taxes29.7 17.0 90.2 77.1 Total operating expenses862.5 758.0 2,458.0 2,210.8 Operating income339.4 321.3 933.8 809.3 Other income, net15.5 19.5 38.6 52.0 Interest expense121.3 123.3 367.3 364.5 Other expense(105.8)(103.8)(328.7)(312.5)Income before income taxes233.6 217.5 605.1 496.8 Income tax expense36.2 47.8 92.5 107.2 Net income197.4 169.7 512.6 389.6 Preferred stock dividend requirements0.3 0.3 0.9 0.9 Net income attributed to common shareholder$197.1 $169.4 $511.7 $388.7 

The accompanying Notes to Condensed Consolidated Financial Statements are an integral part of these financial statements.

09/30/2025 Form 10-Q4Wisconsin Electric Power Company

Table of Contents

WISCONSIN ELECTRIC POWER COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)(in millions, except share and per share amounts)September 30, 2025December 31, 2024AssetsCurrent assetsCash and cash equivalents$3.0 $0.4 Accounts receivable and unbilled revenues, net of reserves of $31.7 and $46.9, respectively546.7 601.2 Accounts receivable from