INVESTMENT IN TRANSMISSION AFFILIATES (Tables) - Transmission Affiliates

3 Months Ended

Mar. 31, 2024

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 March 31, 2024
(in millions)	ATC		ATC Holdco		Total
Balance at beginning of period	$	1,980.8	$	25.1	$	2,005.9
Add: Earnings from equity method investment	44.4		0.4		44.8
Add: Capital contributions	12.1		—		12.1
Less: Distributions	35.7		—		35.7
Balance at end of period	$	2,001.6	$	25.5	$	2,027.1
	Three Months Ended March 31, 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	42.9		0.9		43.8
Add: Capital contributions	6.1		—		6.1
Less: Distributions	37.4		—		37.4
Balance at end of period	$	1,896.2	$	25.5	$	1,921.7

Schedule of significant related party transactions with ATC

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

	Three Months Ended March 31
(in millions)	2024		2023
Charges to ATC for services and construction	$	4.7	$	3.8
Charges from ATC for network transmission services	103.3		94.5

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)	March 31, 2024		December 31, 2023
Accounts receivable for services provided to ATC	$	1.8	$	1.6
Accounts payable for services received from ATC	49.7		49.9
Amounts due from ATC for transmission infrastructure upgrades (1)	42.1		46.1

(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 March 31
(in millions)	2024		2023
Income statement data
Operating revenues	$	211.9	$	200.4
Operating expenses	104.8		99.1
Other expense, net	35.2		32.5
Net income	$	71.9	$	68.8

Schedule of summarized balance sheet data for ATC

(in millions)	March 31, 2024		December 31, 2023
Balance sheet data
Current assets	$	133.2	$	115.2
Noncurrent assets	6,423.4		6,337.0
Total assets	$	6,556.6	$	6,452.2
Current liabilities	$	587.9	$	495.9
Long-term debt	2,736.3		2,736.0
Other noncurrent liabilities	562.2		585.2
Members' equity	2,670.2		2,635.1
Total liabilities and members' equity	$	6,556.6	$	6,452.2