Company: WELPM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000107815-25-000207
Chunk: 117

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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ES

The provision for income taxes differs from the amount of income tax determined by applying the applicable United States statutory federal income tax rate to income before income taxes as a result of the following:Three Months Ended September 30, 2025Three Months Ended September 30, 2024(in millions)AmountEffective Tax RateAmountEffective Tax RateStatutory federal income tax$49.0 21.0 %$45.6 21.0 %State income taxes net of federal tax benefit13.4 5.7 %13.2 6.1 %PTCs, net(10.8)(4.6)%(6.1)(2.8)%Federal excess deferred tax amortization(6.5)(2.8)%(6.9)(3.2)%AFUDC-Equity(5.8)(2.5)%(2.9)(1.3)%Tax repairs(4.8)(2.1)%1.4 0.6 %Domestic production activities deferral1.8 0.8 %2.1 1.0 %Other, net(0.1)— %1.4 0.6 %Total income tax expense$36.2 15.5 %$47.8 22.0 %Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024(in millions)AmountEffective Tax RateAmountEffective Tax RateStatutory federal income tax$126.9 21.0 %$104.1 21.0 %State income taxes net of federal tax benefit34.8 5.8 %29.7 6.0 %PTCs, net(31.1)(5.1)%(14.3)(2.9)%Federal excess deferred tax amortization(17.7)(2.9)%(16.1)(3.2)%AFUDC-Equity(13.7)(2.3)%(8.0)(1.6)%Tax repairs(13.2)(2.2)%3.2 0.6 %Domestic production activities deferral5.1 0.8 %4.9 1.0 %Other, net1.4 0.2 %3.7 0.7 %Total income tax expense$92.5 15.3 %$107.2