WISCONSIN PUBLIC SERVICE CORP

CIK:0000107833|SEC Filings

CONDENSED INCOME STATEMENTS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
CONDENSED INCOME STATEMENTS - USD ($) $ in Millions	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Operating revenues	$ 407.5	$ 410.5	$ 971.8	$ 909.2
Operating expenses
Cost of sales	116.7	123.5	363.8	313.7
Other operation and maintenance	129.4	121.8	249.5	241.1
Depreciation and amortization	69.4	66.7	138.0	132.5
Property and revenue taxes	12.7	11.0	25.8	22.4
Total operating expenses	328.2	323.0	777.1	709.7
Operating income	79.3	87.5	194.7	199.5
Other income, net	9.5	4.2	17.0	8.5
Interest expense	23.9	24.2	47.7	48.2
Other expense	(14.4)	(20.0)	(30.7)	(39.7)
Income before income taxes	64.9	67.5	164.0	159.8
Income tax expense	9.6	12.3	24.8	28.8
Net income	$ 55.3	$ 55.2	$ 139.2	$ 131.0

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income	$ 139.2	$ 131.0
Reconciliation to cash provided by operating activities
Depreciation and amortization	138.0	132.5
Deferred income taxes and ITCs, net	22.3	17.9
Change in –
Accounts receivable and unbilled revenues, net	34.8	(9.0)
Materials, supplies, and inventories	6.0	8.9
Prepaid taxes	(17.9)	6.7
Other prepayments	4.7	4.4
Other current assets	(6.7)	0.4
Accounts payable	(15.3)	(19.5)
Amounts refundable to customers	7.0	9.1
Other current liabilities	3.3	(6.9)
Other, net	(15.0)	(3.9)
Net cash provided by operating activities	300.4	271.6
Investing activities
Capital expenditures	(319.9)	(253.6)
Reimbursement for ATC's transmission infrastructure upgrades	0.0	6.6
Proceeds from cash surrender value of life insurance	0.0	9.8
Other, net	3.7	3.4
Net cash used in investing activities	(316.2)	(233.8)
Financing activities
Issuance of long-term debt	299.9	0.0
Change in short-term debt	143.1	21.5
Payment of dividends to parent	(540.0)	(60.0)
Equity contribution from parent	115.0	0.0
Other, net	(2.6)	(0.5)
Net cash provided by (used in) financing activities	15.4	(39.0)
Net change in cash and cash equivalents	(0.4)	(1.2)
Cash and cash equivalents at beginning of period	0.7	1.5
Cash and cash equivalents at end of period	$ 0.3	$ 0.3

CONDENSED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 0.3	$ 0.7
Materials, supplies, and inventories	164.6	170.6
Prepaid taxes	62.8	44.9
Other prepayments	3.0	7.7
Other	33.8	18.0
Current assets	524.2	562.4
Long-term assets
Property, plant, and equipment, net of accumulated depreciation and amortization of $2,352.9 and $2,320.2, respectively	6,799.1	6,611.6
Regulatory assets	449.5	446.2
Goodwill	36.4	36.4
Pension and OPEB assets	369.7	357.7
Other	45.9	40.3
Long-term assets	7,700.6	7,492.2
Total assets	8,224.8	8,054.6
Current liabilities
Short-term debt	302.6	159.5
Accrued payroll and benefits	25.5	28.8
Customer credit balances	11.9	42.4
Other	59.7	40.1
Current liabilities	581.0	479.4
Long-term liabilities
Long-term debt	2,257.4	1,959.3
Finance lease obligations	83.4	77.8
Deferred income taxes	1,067.6	1,034.2
Deferred ITCs	76.3	77.9
Regulatory liabilities	651.4	643.4
Environmental remediation liabilities	104.4	104.7
AROs	211.4	205.8
Other	102.0	96.6
Long-term liabilities	4,553.9	4,199.7
Commitments and contingencies (Note 18)
Common shareholder's equity
Common stock – $4 par value; 32,000,000 shares authorized; 23,896,962 shares issued and outstanding	95.6	95.6
Additional paid in capital	2,462.5	2,347.3
Retained earnings	531.8	932.6
Common shareholder's equity	3,089.9	3,375.5
Total liabilities and equity	8,224.8	8,054.6
Related party
Current assets
Accounts receivables	25.7	26.6
Current liabilities
Accounts payable	64.9	79.0
Nonrelated party
Current assets
Accounts receivables	234.0	293.9
Current liabilities
Accounts payable	$ 116.4	$ 129.6