Company: WELPM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000107815-25-000184
Chunk: 110

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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Regulatory assets$10.6 $10.8 Reserves for future environmental remediation (1)10.6 10.6 (1)Recorded within other long-term liabilities on our balance sheets.Coal Combustion Residuals RuleThe EPA finalized a rule for CCR in April 2024 that would apply to landfills, historic fill sites, and projects where CCR was placed at a power plant site. The rule will regulate previously exempt closed landfills. The final rule, which became effective in November 2024 will have an impact on some of our coal ash landfills, requiring additional remediation that is not currently required under the state programs. The rule is being challenged through litigation pending in the D.C. Circuit Court of Appeals. We expect the cost of the additional remediation would be recovered through future rates. See the Federal Deregulatory Actions discussion above for more information regarding potential deregulatory actions regarding this rule.Enforcement and Litigation MattersWe are involved in legal and administrative proceedings before various courts and agencies with respect to matters arising in the ordinary course of business. Although we are unable to predict the outcome of these matters, management believes that appropriate reserves have been established and that final settlement of these actions will not have a material impact on our financial condition or results of operations.

NOTE 17—SUPPLEMENTAL CASH FLOW INFORMATION

Non-Cash TransactionsThree Months Ended March 31(in millions)20252024Cash paid for interest, net of amount capitalized$90.3 $84.8 Cash received for income taxes (1) — (4.3)Significant non-cash investing and financing transactions:Accounts payable related to construction costs94.3 76.6 (1)    The cash received for income taxes in the first quarter of 2024 relates to 2023 PTCs that were sold to a third party.Restricted CashThe statements of cash flows include our activity related to cash, cash equivalents, and restricted cash. The following table reconciles the cash, cash equivalents, and restricted cash amounts reported within the balance sheets to the total of these amounts shown on the statements of cash flows:(in millions)March 31, 2025December 31, 2024Cash and cash equivalents$62.7 $0.4 Restricted cash included in other current assets4.3 1.5 Restricted cash included in other long-term assets0.6 0.6 Cash, cash equivalents, and