Segment Information

6 Months Ended

Jun. 30, 2015

Segment Information [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The acquisition of Integrys closed on June 29, 2015, one day prior to the close of the period. The earnings during the three and six months ended June 30, 2015 exclude the operating results of Integrys. Acquisition-related costs are reflected in Corporate & Other. Our reporting segments will be evaluated for revision in the future.

Summarized financial information concerning our reportable segments for the three and six months ended June 30, 2015 and 2014 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, 2015
Operating Revenues (b)	$	979.9	$	115.3	$	0.5		$	(104.5	)	$	991.2
Other Operation and Maintenance	$	368.3	$	4.7	$	68.1		$	(104.1	)	$	337.0
Depreciation and Amortization	$	88.5	$	17.1	$	0.1		$	—		$	105.7
Operating Income (Loss)	$	140.4	$	93.5	$	(68.1	)	$	—		$	165.8
Equity in Earnings of Unconsolidated Affiliates	$	14.3	$	—	$	(0.1	)	$	—		$	14.2
Interest Expense, Net	$	32.4	$	15.9	$	14.0		$	(0.2	)	$	62.1
Income Tax Expense (Benefit)	$	44.0	$	38.4	$	(19.2	)	$	—		$	63.2
Net Income (Loss)	$	82.1	$	39.5	$	82.1		$	(122.8	)	$	80.9
Capital Expenditures	$	201.0	$	3.2	$	2.8		$	—		$	207.0
June 30, 2014
Operating Revenues (b)	$	1,029.8	$	113.4	$	0.3		$	(99.8	)	$	1,043.7
Other Operation and Maintenance	$	343.6	$	5.0	$	6.1		$	(98.7	)	$	256.0
Depreciation and Amortization	$	84.3	$	16.7	$	0.4		$	—		$	101.4
Operating Income (Loss)	$	155.2	$	91.7	$	(6.2	)	$	—		$	240.7
Equity in Earnings of Unconsolidated Affiliates	$	17.5	$	—	$	—		$	—		$	17.5
Interest Expense, Net	$	30.7	$	16.2	$	12.2		$	(0.1	)	$	59.0
Income Tax Expense (Benefit)	$	51.4	$	30.2	$	(7.3	)	$	—		$	74.3
Net Income (Loss)	$	96.3	$	45.4	$	132.9		$	(141.6	)	$	133.0
Capital Expenditures	$	172.6	$	4.6	$	(0.9	)	$	—		$	176.3

	Reportable Segments							Eliminations
	Energy				Corporate &			& Reconciling			Total
Six Months Ended	Utility		Non-Utility		Other (a)			Items			Consolidated
	(Millions of Dollars)
June 30, 2015
Operating Revenues (b)	$	2,356.8	$	225.0	$	0.8		$	(203.5	)	$	2,379.1
Other Operation and Maintenance	$	737.4	$	5.8	$	77.5		$	(203.0	)	$	617.7
Depreciation and Amortization	$	176.4	$	34.1	$	0.3		$	—		$	210.8
Operating Income (Loss)	$	416.9	$	185.1	$	(77.4	)	$	—		$	524.6
Equity in Earnings of Unconsolidated Affiliates	$	30.4	$	—	$	(0.1	)	$	—		$	30.3
Interest Expense, Net	$	64.1	$	31.8	$	26.2		$	(0.3	)	$	121.8
Income Tax Expense (Benefit)	$	141.8	$	69.0	$	(25.2	)	$	—		$	185.6
Net Income (Loss)	$	247.2	$	84.7	$	279.1		$	(334.3	)	$	276.7
Capital Expenditures	$	345.2	$	7.2	$	4.1		$	—		$	356.5
June 30, 2014
Operating Revenues (b)	$	2,711.9	$	221.7	$	0.6		$	(195.5	)	$	2,738.7
Other Operation and Maintenance	$	711.2	$	6.2	$	7.3		$	(193.3	)	$	531.4
Depreciation and Amortization	$	167.9	$	33.6	$	0.5		$	—		$	202.0
Operating Income (Loss)	$	447.9	$	181.9	$	(7.3	)	$	—		$	622.5
Equity in Earnings of Unconsolidated Affiliates	$	34.8	$	—	$	—		$	—		$	34.8
Interest Expense, Net	$	64.7	$	32.5	$	24.4		$	(0.3	)	$	121.3
Income Tax Expense (Benefit)	$	158.8	$	60.2	$	(14.4	)	$	—		$	204.6
Net Income (Loss)	$	265.7	$	89.5	$	340.4		$	(355.0	)	$	340.6
Capital Expenditures	$	293.3	$	9.7	$	2.5		$	—		$	305.5

(a) Corporate & Other includes all other non-utility activities, primarily non-utility real estate investment and development by Wispark LLC, 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.