Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

NSP-Wisconsin evaluates performance based on profit or loss generated from the product or service provided. These segments are managed separately because the revenue streams are dependent upon regulated rate recovery, which is separately determined for each segment.

NSP-Wisconsin has the following reportable segments:

•Regulated Electric — The regulated electric utility segment generates electricity, which is transmitted and distributed in Wisconsin and Michigan.

•Regulated Natural Gas — The regulated natural gas utility segment purchases, transports, stores and distributes natural gas in portions of Wisconsin and Michigan.

Asset and capital expenditure information is not provided for NSP-Wisconsin's reportable segments. As an integrated electric and natural gas utility, NSP-Wisconsin operates significant assets that are not dedicated to a specific business segment. Reporting assets and capital expenditures by business segment would require arbitrary and potentially misleading allocations, which may not necessarily reflect the assets that would be required for the operation of the business segments on a stand-alone basis.

Certain costs, such as common depreciation, common O&M expenses and interest expense are allocated based on cost causation allocators across each segment. In addition, a general allocator is used for certain general and administrative expenses, including office supplies, rent, property insurance and general advertising.

NSP-Wisconsin's segment information:

	Three Months Ended Sept. 30
(Millions of Dollars)	2021		2020
Regulated Electric
Total revenues (a)	$	252	$	236
Net income	38		40
Regulated Natural Gas
Operating revenues — external	$	22	$	15
Intersegment revenue	1		—
Total revenues	$	23	$	15
Net loss	(4)		(2)
All Other
Net income	$	2	$	2
Consolidated Total
Total revenues (a)	$	275	$	251
Reconciling eliminations	(1)		—
Total operating revenues	$	274	$	251
Net income	36		40

(a)Total revenues include $49 million and $41 million of affiliate electric revenue for the three months ended Sept. 30, 2021 and 2020, respectively.

	Nine Months Ended Sept. 30
(Millions of Dollars)	2021		2020
Regulated Electric
Total revenues (a)	$	700	$	647
Net income	77		81
Regulated Natural Gas
Operating revenues — external	$	110	$	79
Intersegment revenue	1		—
Total revenues	$	111	$	79
Net income	3		3
All Other
Net income	$	2	$	1
Consolidated Total
Total revenues (a)	$	811	$	726
Reconciling eliminations	(1)		—
Total operating revenues	$	810	$	726
Net income	82		85

(a)Total revenues include $141 million and $123 million of affiliate electric revenue for the nine months ended Sept. 30, 2021 and 2020, respectively