Company: WELPM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000107815-25-000105
Chunk: 4

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 4
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.7 525.0 479.7 Property and revenue taxes106.8 115.3 125.6 Total operating expenses2,918.7 3,022.8 3,130.3 Operating income1,061.2 1,022.2 940.0 Other income, net79.0 68.8 49.4 Interest expense489.4 466.5 458.4 Other expense(410.4)(397.7)(409.0)Income before income taxes650.8 624.5 531.0 Income tax expense136.4 142.7 133.1 Net income514.4 481.8 397.9 Preferred stock dividend requirements1.2 1.2 1.2 Net income attributed to common shareholder$513.2 $480.6 $396.7 

The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.

2024 Form 10-K61Wisconsin Electric Power Company

C. CONSOLIDATED BALANCE SHEETS

At December 31(in millions, except share and per share amounts)20242023AssetsCurrent assetsCash and cash equivalents$0.4 $6.1 Accounts receivable and unbilled revenues, net of reserves of $46.9 and $44.5, respectively601.2 573.0 Accounts receivable from related parties128.6 143.9 Materials, supplies, and inventories354.8 310.6 Prepaid taxes139.8 112.7 Other prepayments24.9 26.7 Other23.2 32.3 Current assets1,272.9 1,205.3 Long-term assetsProperty, plant, and equipment, net of accumulated depreciation and amortization of $5,952.3 and $5,779.2, respectively12,810.7 11,585.5 Regulatory assets (December 31, 2024 and December 31, 2023 include $76.5 and $85.9, respectively, related to WEPCo Environmental Trust)2,946.3 2,860.7 Pension and OPEB assets79.2 71.0 Other90.5 118.9 Long-term assets15,926.7 14,636.1 Total assets$