Segment Information

6 Months Ended

Jun. 30, 2012

Segment Information [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

Summarized financial information concerning our reportable segments for the three and six months ended June 30, 2012 and 2011 is shown in the following table:

	Reportable Segments							Eliminations
	Energy				Corporate &			& Reconciling			Total
Three Months Ended	Utility		Non-Utility		Other (a)			Items			Consolidated
	(Millions of Dollars)
June 30, 2012
Operating Revenues (b)	$	930.5	$	112.3	$	0.3		$	(98.4	)	$	944.7
Other Operation and Maintenance	$	358.5	$	5.3	$	1.4		$	(97.3	)	$	267.9
Depreciation and Amortization	$	73.4	$	16.7	$	0.2		$	—		$	90.3
Operating Income (Loss)	$	133.6	$	90.3	$	(1.3	)	$	—		$	222.6
Equity in Earnings of Unconsolidated Affiliates	$	16.2	$	—	$	(0.1	)	$	—		$	16.1
Interest Expense, Net	$	32.0	$	16.7	$	12.9		$	(0.1	)	$	61.5
Income Tax Expense (Benefit)	$	43.0	$	29.2	$	(5.6	)	$	—		$	66.6
Income from Discontinued Operations, Net of Tax	$	—	$	—	$	—		$	—		$	—
Net Income (Loss)	$	82.7	$	44.4	$	119.3		$	(127.1	)	$	119.3
Capital Expenditures	$	169.4	$	1.9	$	0.4		$	—		$	171.7
June 30, 2011
Operating Revenues (b)	$	977.9	$	111.3	$	0.2		$	(97.7	)	$	991.7
Other Operation and Maintenance	$	388.8	$	5.1	$	1.7		$	(96.7	)	$	298.9
Depreciation and Amortization	$	63.9	$	18.3	$	0.1		$	—		$	82.3
Operating Income (Loss)	$	88.1	$	87.9	$	(1.6	)	$	—		$	174.4
Equity in Earnings of Unconsolidated Affiliates	$	15.2	$	—	$	(0.1	)	$	—		$	15.1
Interest Expense, Net	$	27.2	$	17.0	$	13.3		$	(0.1	)	$	57.4
Income Tax Expense (Benefit)	$	29.1	$	28.1	$	(8.6	)	$	—		$	48.6
Income from Discontinued Operations, Net of Tax	$	—	$	—	$	11.5		$	—		$	11.5
Net Income (Loss)	$	61.1	$	42.8	$	109.5		$	(103.9	)	$	109.5
Capital Expenditures	$	203.8	$	6.7	$	1.1		$	—		$	211.6

	Reportable Segments							Eliminations
	Energy				Corporate &			& Reconciling			Total
Six Months Ended	Utility		Non-Utility		Other (a)			Items			Consolidated
	(Millions of Dollars)
June 30, 2012
Operating Revenues (b)	$	2,108.9	$	219.6	$	0.6		$	(193.2	)	$	2,135.9
Other Operation and Maintenance	$	734.9	$	7.4	$	2.7		$	(190.8	)	$	554.2
Depreciation and Amortization	$	144.1	$	33.5	$	0.3		$	—		$	177.9
Operating Income (Loss)	$	342.2	$	178.7	$	(2.6	)	$	—		$	518.3
Equity in Earnings of Unconsolidated Affiliates	$	31.8	$	—	$	(0.1	)	$	—		$	31.7
Interest Expense, Net	$	61.2	$	33.5	$	26.0		$	(0.3	)	$	120.4
Income Tax Expense (Benefit)	$	117.0	$	58.0	$	(12.1	)	$	—		$	162.9
Income from Discontinued Operations, Net of Tax	$	—	$	—	$	—		$	—		$	—
Net Income (Loss)	$	218.9	$	87.4	$	291.9		$	(306.8	)	$	291.4
Capital Expenditures	$	307.0	$	3.8	$	3.2		$	—		$	314.0
June 30, 2011
Operating Revenues (b)	$	2,294.4	$	214.5	$	0.4		$	(188.9	)	$	2,320.4
Other Operation and Maintenance	$	789.7	$	6.6	$	2.8		$	(186.7	)	$	612.4
Depreciation and Amortization	$	127.3	$	36.0	$	0.3		$	—		$	163.6
Operating Income (Loss)	$	301.1	$	171.9	$	(3.0	)	$	—		$	470.0
Equity in Earnings of Unconsolidated Affiliates	$	30.7	$	—	$	(0.2	)	$	—		$	30.5
Interest Expense, Net	$	55.3	$	32.9	$	32.8		$	(0.2	)	$	120.8
Income Tax Expense (Benefit)	$	100.4	$	55.8	$	(18.3	)	$	—		$	137.9
Income from Discontinued Operations, Net of Tax	$	—	$	—	$	11.5		$	—		$	11.5
Net Income (Loss)	$	202.1	$	83.3	$	280.3		$	(285.3	)	$	280.4
Capital Expenditures	$	331.0	$	14.9	$	1.2		$	—		$	347.1

(a) Corporate & Other includes all other non-utility activities, primarily non-utility real estate investment and development by Wispark as well as interest on corporate debt.

(b) An elimination for intersegment revenues is included in Operating Revenues. This elimination is primarily between WePower and Wisconsin Electric.