Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 58

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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Net amount$12.9 $1.2 $9.8 $0.3 (1)    Includes cash collateral received of $2.8 million.

06/30/2025 Form 10-Q17Wisconsin Electric Power Company

NOTE 15—GUARANTEES

As of June 30, 2025, we had $27.5 million of standby letters of credit issued by financial institutions for the benefit of third parties that have extended credit to us, which automatically renew each year unless proper termination notice is given. These amounts are not reflected on our balance sheets.

NOTE 16—EMPLOYEE BENEFITS 

The following tables show the components of net periodic benefit cost (credit) (including amounts capitalized to our balance sheets) for our benefit plans.Pension BenefitsThree Months Ended June 30Six Months Ended June 30(in millions)2025202420252024Service cost$2.4 $2.4 $5.0 $5.2 Interest cost11.1 11.0 22.8 22.3 Expected return on plan assets(14.8)(15.2)(29.6)(30.8)Amortization of net actuarial loss3.7 4.7 8.0 9.0 Net periodic benefit cost$2.4 $2.9 $6.2 $5.7 OPEB BenefitsThree Months Ended June 30Six Months Ended June 30(in millions)2025202420252024Service cost$0.9 $0.8 $1.8 $1.6 Interest cost2.3 2.0 4.7 4.1 Expected return on plan assets(2.7)(2.8)(5.4)(5.5)Amortization of prior service credit(0.1)— (0.1)(0.1)Amortization of net actuarial gain(1.2)(1.4)(2.0)(2.8)Net periodic benefit credit$(0.8)$(1.4)$(1.0)$(2.7)During the six months ended June 30, 2025, we made contributions and payments of $1.5 million related to our pension plans and $0.1 million related to our OPEB plans. During the remainder of 2025, we expect to make