INVESTMENT IN TRANSMISSION AFFILIATES (Tables) - Transmission Affiliates

6 Months Ended

Jun. 30, 2023

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 June 30, 2023
(in millions)	ATC		ATC Holdco		Total
Balance at beginning of period	$	1,896.2	$	25.5	$	1,921.7
Add: Earnings from equity method investment	43.1		0.5		43.6
Add: Capital contributions	27.2		—		27.2
Less: Distributions	34.7		1.9		36.6
Balance at end of period	$	1,931.8	$	24.1	$	1,955.9
	Three Months Ended June 30, 2022
(in millions)	ATC		ATC Holdco		Total
Balance at beginning of period	$	1,795.0	$	23.2	$	1,818.2
Add: Earnings from equity method investment	42.6		0.4		43.0
Add: Capital contributions	9.2		—		9.2
Less: Distributions	33.2		—		33.2
Balance at end of period	$	1,813.6	$	23.6	$	1,837.2
	Six Months Ended June 30, 2023
(in millions)	ATC		ATC Holdco		Total
Balance at beginning of period	$	1,884.6	$	24.6	$	1,909.2
Add: Earnings from equity method investment	86.0		1.4		87.4
Add: Capital contributions	33.3		—		33.3
Less: Distributions	72.1		1.9		74.0
Balance at end of period	$	1,931.8	$	24.1	$	1,955.9
	Six Months Ended June 30, 2022
(in millions)	ATC		ATC Holdco		Total
Balance at beginning of period	$	1,766.9	$	22.5	$	1,789.4
Add: Earnings from equity method investment	83.6		1.1		84.7
Add: Capital contributions	30.3		—		30.3
Less: Distributions	67.2		—		67.2
Balance at end of period	$	1,813.6	$	23.6	$	1,837.2

Schedule of significant related party transactions with ATC

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

	Three Months Ended June 30				Six Months Ended June 30
(in millions)	2023		2022		2023		2022
Charges to ATC for services and construction	$	4.0	$	4.7	$	7.8	$	10.9
Charges from ATC for network transmission services	94.3		90.8		188.8		181.9

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)	June 30, 2023		December 31, 2022
Accounts receivable for services provided to ATC	$	1.5	$	1.2
Accounts payable for services received from ATC	31.7		30.4
Amounts due from ATC for transmission infrastructure upgrades (1)	45.9		26.6

(1)These transmission infrastructure upgrades were primarily related to the construction of WE's and WPS's renewable energy projects.

Schedule of summarized income statement data for ATC

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

	Three Months Ended June 30				Six Months Ended June 30
(in millions)	2023		2022		2023		2022
Income statement data
Operating revenues	$	203.8	$	191.6	$	404.2	$	382.6
Operating expenses	101.5		95.2		200.6		190.7
Other expense, net	32.9		28.8		65.4		56.8
Net income	$	69.4	$	67.6	$	138.2	$	135.1

Schedule of summarized balance sheet data for ATC

(in millions)	June 30, 2023		December 31, 2022
Balance sheet data
Current assets	$	100.7	$	89.6
Noncurrent assets	6,149.0		5,997.8
Total assets	$	6,249.7	$	6,087.4
Current liabilities	$	438.8	$	511.9
Long-term debt	2,712.8		2,613.0
Other noncurrent liabilities	542.7		485.8
Members' equity	2,555.4		2,476.7
Total liabilities and members' equity	$	6,249.7	$	6,087.4