Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 168

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 168
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 |     |      |  13.6 | %          |
| Weighted average discount rate – operating leases(5)                      |     |      |   5.2 | %          |     |      |   4.8 | %          |     |      |   4.5 | %          |

(1) Amortization of right of use assets was included as a component of depreciation and amortization expense.

(2) Interest on lease liabilities was included as a component of interest expense.

(3) Operating lease expense was included as a component of other operation and maintenance expense.

(4) Amounts are net of any reductions to right of use assets and finance lease liabilities resulting from remeasurements.

(5) For the PWGS and ERGS finance leases, the rate implicit in the lease was readily determinable. For all of our other operating and finance leases, we used an estimate of the fully collateralized incremental borrowing rates based upon information available for similarly rated companies in determining the present value of lease payments.

| Wisconsin Electric Power Company |     | B-51 |     | 2024 Annual Financial Statements |

The following table summarizes our finance and operating lease right of use assets and obligations at December 31:

| (in millions)                                   
 Right of use assets                             |     | 2024 |         |     | 2023 |         |     | Balance Sheet Location                       |
|:------------------------------------------------|:----|:-----|--------:|:----|:-----|--------:|:----|:---------------------------------------------|
| Operating lease right of use assets, net        |     | $    |    12.2 |     | $    |    10.2 |     | Other long-term assets                       |
| Finance lease right of use assets, net          |     |      |         |     |      |         |     |                                              |
| PWGS                                            |     | $    |   239.1 |     | $    |   268.6 |     |                                              |
| ERGS                                            |     |      | 1,286.3 |     |      | 1,362.0 |     |                                              |
| Land leases – utility solar generation          |     |      |   162.5 |     |      |    92.4 |     |                                              |
| Total finance lease right of use assets, net(1) |     | $    | 1,687.9 |     | $