Company: WELPM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000107815-25-000105
Chunk: 97

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 97
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B (W)Weather (Degree Days) (1)2024202320222024 vs 20232023 vs 2022Heating (6,461 Normal)5,190 5,409 6,369 (4.0)%(15.1)%Cooling (790 Normal)831 876 944 (5.1)%(7.2)%

(1)    Normal degree days are based on a 20-year moving average of monthly temperatures from Mitchell International Airport in Milwaukee, Wisconsin.

2024 Form 10-K39Wisconsin Electric Power Company

Gross Margin GAAP and Utility Margin Non-GAAP

The following table summarizes our utility segment gross margin (GAAP) and reconciles gross margin (GAAP) to utility margin (non-GAAP). See "Non-GAAP Financial Measures" above for additional information regarding gross margin (GAAP) and utility margin (non-GAAP).

Year Ended December 31B (W)B (W)(in millions)2024202320222024 vs 20232023 vs 2022Electric revenues$3,536.2 $3,553.5 $3,461.8 $(17.3)$91.7 Natural gas revenues443.7 491.5 608.5 (47.8)(117.0)Operating revenues3,979.9 4,045.0 4,070.3 (65.1)(25.3)Operating expensesFuel and purchased power(1,088.6)(1,178.9)(1,274.0)90.3 95.1 Cost of natural gas sold(211.7)(272.5)(419.3)60.8 146.8 Other operation and maintenance (1)(719.8)(752.7)(619.4)32.9 (133.3)Depreciation and amortization(573.7)(525.0)(479.7)(48.7)(45.3)Property and revenue taxes(106.8)(115.3)(125.6)8.5 10.3 Gross margin (GAAP)1,279.3 1,200.6 1,152.3 78.7 48.3 Other operation and maintenance (1)719.8 752.7 619.4 (32.9)133.3 Depreciation and amort