Company: WELPM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000107815-25-000184
Chunk: 54

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 site. The rule will regulate previously exempt closed landfills. The final rule, which became effective in November 2024 will have an impact on some of our coal ash landfills, requiring additional remediation that is not currently required under the state programs. The rule is being challenged through litigation pending in the D.C. Circuit Court of Appeals. We expect the cost of the additional remediation would be recovered through future rates. See the Federal Deregulatory Actions discussion above for more information regarding potential deregulatory actions regarding this rule.Enforcement and Litigation MattersWe are involved in legal and administrative proceedings before various courts and agencies with respect to matters arising in the ordinary course of business. Although we are unable to predict the outcome of these matters, management believes that appropriate reserves have been established and that final settlement of these actions will not have a material impact on our financial condition or results of operations.

NOTE 17—SUPPLEMENTAL CASH FLOW INFORMATION

Non-Cash TransactionsThree Months Ended March 31(in millions)20252024Cash paid for interest, net of amount capitalized$90.3 $84.8 Cash received for income taxes (1) — (4.3)Significant non-cash investing and financing transactions:Accounts payable related to construction costs94.3 76.6 (1)    The cash received for income taxes in the first quarter of 2024 relates to 2023 PTCs that were sold to a third party.Restricted CashThe statements of cash flows include our activity related to cash, cash equivalents, and restricted cash. The following table reconciles the cash, cash equivalents, and restricted cash amounts reported within the balance sheets to the total of these amounts shown on the statements of cash flows:(in millions)March 31, 2025December 31, 2024Cash and cash equivalents$62.7 $0.4 Restricted cash included in other current assets4.3 1.5 Restricted cash included in other long-term assets0.6 0.6 Cash, cash equivalents, and restricted cash$67.6 $2.5 Our restricted cash consisted of cash on deposit in a financial institution that is restricted to satisfy the requirements of a debt agreement at WEPCo Environmental Trust. See Note 15, Variable Interest Entities, for more information.

03/31/2025 Form 10-Q23Wisconsin Electric Power Company

NOTE 18—REGULATORY ENVIRONMENT

Very Large Customer and Bespoke Resources