Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 39

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 39
---
ITEM 1. FINANCIAL STATEMENTS

WISCONSIN ELECTRIC POWER COMPANY

CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited)Three Months EndedSix Months EndedJune 30June 30(in millions)2025202420252024Operating revenues$1,010.8 $902.0 $2,189.9 $1,940.8 Operating expensesCost of sales326.3 279.9 725.9 632.1 Other operation and maintenance249.8 237.4 501.9 479.0 Depreciation and amortization156.3 142.0 307.2 281.6 Property and revenue taxes29.6 29.3 60.5 60.1 Total operating expenses762.0 688.6 1,595.5 1,452.8 Operating income248.8 213.4 594.4 488.0 Other income, net12.3 16.2 23.1 32.5 Interest expense121.3 120.4 246.0 241.2 Other expense(109.0)(104.2)(222.9)(208.7)Income before income taxes139.8 109.2 371.5 279.3 Income tax expense21.0 23.6 56.3 59.4 Net income118.8 85.6 315.2 219.9 Preferred stock dividend requirements0.3 0.3 0.6 0.6 Net income attributed to common shareholder$118.5 $85.3 $314.6 $219.3 

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

06/30/2025 Form 10-Q4Wisconsin Electric Power Company

Table of Contents

WISCONSIN ELECTRIC POWER COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)(in millions, except share and per share amounts)June 30, 2025December 31, 2024AssetsCurrent assetsCash and cash equivalents$2.1 $0.4 Accounts receivable and unbilled revenues, net of reserves of $32.9 and $46.9, respectively621.4 601.2 Accounts receivable from related parties97.