Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 157

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 157
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 ongoing expense recognition under the ARO accounting rules and the ratemaking practices for retirement costs authorized by the PSCW.

On our balance sheets, AROs are recorded within other long-term liabilities. The following table shows changes to our AROs during the years ended December 31:

|                                   | (in millions) |   |  2024 |     |    |     |   | 2023 |     |   | 2022 |
|:----------------------------------|:--------------|:--|------:|:----|---:|:----|:--|-----:|:----|:--|-----:|
| Balance as of January 1           |               | $ |  73.1 |     |    |     | $ | 71.7 |     | $ | 70.8 |
| Accretion                         |               |   |   2.9 |     |    |     |   |  1.8 |     |   |  1.8 |
| Additions                         |               |   |  44.8 |     | -1 |     |   |  4.4 |     |   |    — |
| Revisions to estimated cash flows |               |   |     — |     |    |     |   | -4.5 |     |   |  0.3 |
| Liabilities settled               |               |   |  -0.2 |     |    |     |   | -0.3 |     |   | -1.2 |
| Balance as of December 31         |               | $ | 120.6 |     |    |     | $ | 73.1 |     | $ | 71.7 |

(1) AROs increased primarily as a result of AROs being recorded related to the new EPA CCR Rule that was enacted in April 2024. See Note 22, Commitments and Contingencies, for more information.

| Wisconsin Electric Power Company |     | B-45 |     | 2024 Annual Financial Statements |

#### NOTE 11—COMMON EQUITY

#### Stock-Based Compensation
The following table summarizes our pre-tax stock-based compensation expense, including amounts allocated from WBS, and the related tax benefit recognized in income for the years ended December 31:

|                                  | (in millions) |   | 2024 |     |   | 2023 |     |