INVESTMENT IN TRANSMISSION AFFILIATES (Tables)

9 Months Ended

Sep. 30, 2021

Investment in transmission affiliates

Schedule of changes to our investments in transmission affiliates

The following tables provide a reconciliation of the changes in our investments in ATC and ATC Holdco:

	Three Months Ended September 30, 2021
(in millions)	ATC		ATC Holdco		Total
Balance at beginning of period	$	1,749.7	$	32.3	$	1,782.0
Add: Earnings from equity method investment	41.7		0.6		42.3
Less: Distributions	33.0		—		33.0
Balance at end of period	$	1,758.4	$	32.9	$	1,791.3
	Three Months Ended September 30, 2020
(in millions)	ATC		ATC Holdco		Total
Balance at beginning of period	$	1,713.3	$	31.4	$	1,744.7
Add: Earnings from equity method investment	39.6		0.5		40.1
Add: Capital contributions	6.2		—		6.2
Less: Distributions	39.9		—		39.9
Less: Return of capital	—		0.6		0.6
Less: Other	0.1		—		0.1
Balance at end of period	$	1,719.1	$	31.3	$	1,750.4
	Nine Months Ended September 30, 2021
(in millions)	ATC		ATC Holdco		Total
Balance at beginning of period	$	1,733.5	$	30.8	$	1,764.3
Add: Earnings from equity method investment	124.1		2.1		126.2
Less: Distributions	99.2		—		99.2
Balance at end of period	$	1,758.4	$	32.9	$	1,791.3
	Nine Months Ended September 30, 2020
(in millions)	ATC		ATC Holdco		Total
Balance at beginning of period	$	1,684.7	$	36.1	$	1,720.8
Add: Earnings from equity method investment	131.7		1.1		132.8
Add: Capital contributions	15.2		—		15.2
Less: Distributions	112.5		—		112.5
Less: Return of capital	—		5.9		5.9
Balance at end of period	$	1,719.1	$	31.3	$	1,750.4

ATC

Investment in transmission affiliates

Schedule of significant related party transactions with ATC

The following table summarizes our significant related party transactions with ATC:

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2021		2020		2021		2020
Charges to ATC for services and construction	$	5.5	$	5.7	$	17.2	$	18.7
Charges from ATC for network transmission services	90.3		87.8		270.7		262.7
Net refund from ATC related to FERC ROE orders	8.7		2.3		7.4		10.7

Schedule of receivables and payables with ATC

Our balance sheets included the following receivables and payables for services provided to or received from ATC:

(in millions)	September 30, 2021		December 31, 2020
Accounts receivable for services provided to ATC	$	2.1	$	3.7
Accounts payable for services received from ATC	26.9		29.3
Amounts due from ATC for transmission infrastructure upgrades (1)	8.9		4.6

(1)The transmission infrastructure upgrades were primarily related to WE's and WPS's construction of their new solar projects, Badger Hollow II and Badger Hollow I, respectively.

Schedule of summarized income statement data for ATC

Summarized financial data for ATC is included in the tables below:

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2021		2020		2021		2020
Income statement data
Operating revenues	$	186.8	$	187.8	$	561.4	$	577.7
Operating expenses	91.3		93.0		278.8		285.7
Other expense, net	28.6		28.1		85.2		82.0
Net income	$	66.9	$	66.7	$	197.4	$	210.0

Schedule of summarized balance sheet data for ATC

(in millions)	September 30, 2021		December 31, 2020
Balance sheet data
Current assets	$	87.0	$	92.7
Noncurrent assets	5,539.8		5,400.6
Total assets	$	5,626.8	$	5,493.3
Current liabilities	$	483.0	$	310.8
Long-term debt	2,412.8		2,512.2
Other noncurrent liabilities	398.9		378.2
Members' equity	2,332.1		2,292.1
Total liabilities and members' equity	$	5,626.8	$	5,493.3