Common Equity (Tables)

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Schedule of stock-based compensation expense and related tax benefit recognized in income

The following table summarizes our pre-tax stock-based compensation expense, including amounts allocated from WBS, and the related tax benefit recognized in income for the years ended December 31:

(in millions)	2023			2022		2021
Stock options	$	1.9		$	2.4	$	2.3
Restricted stock	2.3			2.3		2.2
Performance units	(0.9)		(1)	8.5		1.7
Stock-based compensation expense	$	3.3		$	13.2	$	6.2
Related tax benefit	$	0.9		$	3.6	$	1.7

(1)    The reduction in expense was due to a decrease in the fair value of the outstanding performance units.

Schedule of stock option activity

The following is a summary of our employees' WEC Energy Group stock option activity during 2023:

Stock Options	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in millions)
Outstanding as of January 1, 2023	475,509	$	70.63
Granted	30,495	93.69
Exercised	(57,704)	43.70
Outstanding as of December 31, 2023	448,300	75.67		5.1	$	5.6
Exercisable as of December 31, 2023	332,592	69.45		4.2	$	5.6

Schedule of restricted stock activity

The following is a summary of our employees' WEC Energy Group restricted stock activity during 2023:

Restricted Shares	Number of Shares	Weighted-Average Grant Date Fair Value
Outstanding and unvested as of January 1, 2023	7,208	$	93.97
Granted	4,544	93.69
Released	(3,358)	93.21
Forfeited	(223)	94.13
Outstanding and unvested as of December 31, 2023	8,171	94.12