Company: WELPM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000107815-25-000207
Chunk: 89

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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36Wisconsin Electric Power Company

Utility Segment Contribution to Net Income Attributed to Common Shareholder

The following table compares our utility segment's contribution to net income attributed to common shareholder for the nine months ended September 30, 2025, with the same period in 2024, including favorable or better, "B", and unfavorable or worse, "W", variances.

Nine Months Ended September 30(in millions)20252024B (W)Operating revenues$3,391.8 $3,020.1 $371.7 Operating expensesCost of sales (1)1,127.1 986.0 (141.1)Other operation and maintenance773.1 720.6 (52.5)Depreciation and amortization467.6 427.1 (40.5)Property and revenue taxes90.2 77.1 (13.1)Operating income933.8 809.3 124.5 Other income, net38.6 52.0 (13.4)Interest expense367.3 364.5 (2.8)Income before income taxes605.1 496.8 108.3 Income tax expense92.5 107.2 14.7 Preferred stock dividend requirements0.9 0.9 — Net income attributed to common shareholder$511.7 $388.7 $123.0 

(1)    Cost of sales includes fuel and purchased power and cost of natural gas sold.

The following table shows a breakdown of other operation and maintenance:

Nine Months Ended September 30(in millions)20252024B (W)Operation and maintenance not included in line items below$297.2 $277.8 $(19.4)Transmission (1)283.4 268.3 (15.1)Regulatory amortizations and other pass through expenses (2)98.9 75.9 (23.0)We Power (3)97.0 99.2 2.2 Earnings sharing mechanism(3.4)(0.6)2.8 Total other operation and maintenance$773.1 $720.6 $(52.5)

(1)Represents transmission expense that we are authorized to collect in rates. The PSCW has approved escrow accounting for ATC and MISO network transmission expenses. As a result, we