Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 118

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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 in other current assets. At June 30, 2025 and December 31, 2024, we had also received cash collateral of $0.7 million and $2.8 million, respectively. These amounts were recorded on our balance sheets in other current liabilities. The following table shows derivative assets and derivative liabilities if derivative instruments by counterparty were presented net on our balance sheets:June 30, 2025December 31, 2024(in millions)DerivativeAssetsDerivativeLiabilitiesDerivativeAssetsDerivativeLiabilitiesGross amount recognized on the balance sheet$15.7 $4.0 $13.4 $1.1 Gross amount not offset on the balance sheet(2.8)(2.8)(3.6)(1)(0.8)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