Segment Information

9 Months Ended

Sep. 30, 2023

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)	2023		2022
Regulated Electric
Total revenues (a)	$	263	$	274
Net income	32		42
Regulated Natural Gas
Total revenues	$	15	$	20
Net loss	(3)		(3)
All Other
Total revenues	$	1	$	—
Net income	$	2	$	1
Consolidated Total
Total operating revenues (a)	$	279	$	294
Net income	31		40

(a)Total revenues include $50 million and $51 million of affiliate electric revenue for the three months ended Sept. 30, 2023 and 2022, respectively.

	Nine Months Ended Sept. 30
(Millions of Dollars)	2023		2022
Regulated Electric
Total revenues (a)	$	753	$	767
Net income	95		89
Regulated Natural Gas
Operating revenues	$	116	$	133
Intersegment revenue	1		—
Total revenues	$	117	$	133
Net income	5		11
All Other
Total revenues	$	1	$	—
Net income	$	2	$	2
Consolidated Total
Operating revenues (a)	$	871	$	900
Reconciling eliminations	(1)		—
Total operating revenues	$	870	$	900
Net income	102		102