Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 120

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 120
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 process in order to make timely decisions that align with our overall corporate strategy. The CODM uses each segment’s net income to evaluate performance by comparing actual results to budgeted and forecasted amounts, as well as the ROE earned. 

06/30/2025 Form 10-Q18Wisconsin Electric Power Company

Segments were determined based on a combination of factors, including the regulatory environment of each geographical jurisdiction in which the segment operates, as well as the revenue streams for the products or services provided to customers through electric and natural gas operations. See Note 3, Operating Revenues, for more information on disaggregation of operating revenues. The accounting policies of the segments are the same as those described in Note 1, Summary of Significant Accounting Policies, in our 2024 Annual Report on Form 10-K.At June 30, 2025, we reported two segments, our utility segment and our other segment, which are described below. All of our operations and assets are located within the United States.Our utility segment includes our electric utility operations, including steam operations, and our natural gas utility operations. •Our electric utility operations are engaged in the generation, distribution, and sale of electricity to customers in southeastern Wisconsin (including metropolitan Milwaukee), east central Wisconsin, and northern Wisconsin. In addition, our steam operations produce, distribute, and sell steam to customers in metropolitan Milwaukee. •Our natural gas utility operations are engaged in the purchase, distribution, and sale of natural gas to retail customers as well as the transportation of customer-owned natural gas in southeastern, east central, and northern Wisconsin. No significant items were reported in the other segment during the three and six months ended June 30, 2025 and 2024.Since our utility segment consists of all revenues and costs used in our performance measure of net income attributable to common shareholder, see our income statements for more information. Other income, net on our income statements includes amounts that are not material for interest income.The following table shows additional financial information for our utility segment cost of sales for the three and six months ended June 30, 2025 and 2024.Three Months Ended June 30Six Months Ended June 30(in millions)2025202420252024Fuel and purchased power$286.4 $254.3 $562.6 $508.6 Cost of natural gas sold39.9 25.6 163.3 123.5 

Our utility segment assets are reported on the balance sheet as total assets. Our utility segment capital