2011 Q3 Form 10-Q Financial Statement

#000010781511000107 Filed on November 01, 2011

View on sec.gov

Income Statement

Concept 2011 Q3 2010 Q4 2010 Q3
Revenue $1.053B $1.090B $973.2M
YoY Change 8.18% 2.69% 19.34%
Cost Of Revenue $69.20M $232.5M $67.40M
YoY Change 2.67% -4.75% 6.65%
Gross Profit $983.6M $857.3M $905.8M
YoY Change 8.59% 4.91% 20.4%
Gross Profit Margin 93.43% 78.67% 93.07%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $82.60M $79.80M $77.40M
YoY Change 6.72% 0.88% -14.0%
% of Gross Profit 8.4% 9.31% 8.54%
Operating Expenses $759.3M $688.2M $758.0M
YoY Change 0.17% 2.0% 7.4%
Operating Profit $224.3M $169.1M $203.0M
YoY Change 10.49% 18.67% 336.56%
Interest Expense $56.80M -$36.90M $52.50M
YoY Change 8.19% 66.22% -323.4%
% of Operating Profit 25.32% -21.82% 25.86%
Other Income/Expense, Net $16.20M $14.70M $9.600M
YoY Change 68.75% 226.67% -5.88%
Pretax Income $199.4M $193.5M $175.3M
YoY Change 13.75% 8.52% 92.43%
Income Tax $69.60M $67.90M $63.00M
% Of Pretax Income 34.9% 35.09% 35.94%
Net Earnings $129.8M $125.9M $112.2M
YoY Change 15.69% 6.07% 91.79%
Net Earnings / Revenue 12.33% 11.55% 11.53%
Basic Earnings Per Share $0.56 $0.48
Diluted Earnings Per Share $0.55 $0.53 $0.47
COMMON SHARES
Basic Shares Outstanding 232.2M shares 233.8M shares
Diluted Shares Outstanding 234.9M shares 236.9M shares

Balance Sheet

Concept 2011 Q3 2010 Q4 2010 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.00M $25.00M $11.00M
YoY Change 36.36% 25.0% 0.0%
Cash & Equivalents $15.10M $24.50M $11.20M
Short-Term Investments
Other Short-Term Assets $274.0M $85.00M $297.0M
YoY Change -7.74% -84.35% -37.08%
Inventory $368.0M $379.0M $422.0M
Prepaid Expenses $227.5M $125.6M
Receivables $314.0M $344.6M $458.0M
Other Receivables $0.00 $84.00M $0.00
Total Short-Term Assets $1.132B $1.331B $1.189B
YoY Change -4.76% -12.94% -10.53%
LONG-TERM ASSETS
Property, Plant & Equipment $9.999B $9.602B $9.400B
YoY Change 6.37% 6.49% 5.57%
Goodwill $441.9M $441.9M
YoY Change
Intangibles
YoY Change
Long-Term Investments $383.0M $376.0M $365.0M
YoY Change 4.93% 4.74% 7.04%
Other Assets $210.4M $218.9M $1.323B
YoY Change -84.1% -83.81% -5.9%
Total Long-Term Assets $12.12B $11.73B $11.53B
YoY Change 5.1% 5.01% 3.95%
TOTAL ASSETS
Total Short-Term Assets $1.132B $1.331B $1.189B
Total Long-Term Assets $12.12B $11.73B $11.53B
Total Assets $13.25B $13.06B $12.72B
YoY Change 4.18% 2.85% 2.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $274.6M $315.4M $254.0M
YoY Change 8.11% 8.38% -3.79%
Accrued Expenses $88.00M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $497.0M $658.0M $519.0M
YoY Change -4.24% -20.24% -44.67%
Long-Term Debt Due $31.80M $473.4M $473.0M
YoY Change -93.28% 59.93% 51.12%
Total Short-Term Liabilities $1.089B $1.721B $1.609B
YoY Change -32.29% -9.13% -19.95%
LONG-TERM LIABILITIES
Long-Term Debt $4.619B $3.932B $3.936B
YoY Change 17.35% 1.44% 8.4%
Other Long-Term Liabilities $336.3M $376.9M $2.368B
YoY Change -85.8% -83.43% 2.42%
Total Long-Term Liabilities $4.955B $4.309B $6.304B
YoY Change -21.4% -29.95% 6.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.089B $1.721B $1.609B
Total Long-Term Liabilities $4.955B $4.309B $6.304B
Total Liabilities $6.045B $6.030B $8.960B
YoY Change -32.54% -33.74% 0.64%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.941B $3.802B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.971B $3.802B $3.758B
YoY Change
Total Liabilities & Shareholders Equity $13.25B $13.06B $12.72B
YoY Change 4.17% 2.85% 2.4%

Cashflow Statement

Concept 2011 Q3 2010 Q4 2010 Q3
OPERATING ACTIVITIES
Net Income $129.8M $125.9M $112.2M
YoY Change 15.69% 6.07% 91.79%
Depreciation, Depletion And Amortization $82.60M $79.80M $77.40M
YoY Change 6.72% 0.88% -14.0%
Cash From Operating Activities $179.0M $156.7M $230.0M
YoY Change -22.17% -19.72% 13.47%
INVESTING ACTIVITIES
Capital Expenditures $265.1M $252.6M $166.5M
YoY Change 59.22% -3.4% -12.23%
Acquisitions
YoY Change
Other Investing Activities -$17.70M $29.10M $31.80M
YoY Change -155.66% 1978.57% 71.89%
Cash From Investing Activities -$282.8M -$223.5M -$134.7M
YoY Change 109.95% -14.07% -21.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 108.3M 80.10M -94.60M
YoY Change -214.48% 6.23% 181.55%
NET CHANGE
Cash From Operating Activities 179.0M 156.7M 230.0M
Cash From Investing Activities -282.8M -223.5M -134.7M
Cash From Financing Activities 108.3M 80.10M -94.60M
Net Change In Cash 4.500M 13.30M 700.0K
YoY Change 542.86% 26.67% -133.33%
FREE CASH FLOW
Cash From Operating Activities $179.0M $156.7M $230.0M
Capital Expenditures $265.1M $252.6M $166.5M
Free Cash Flow -$86.10M -$95.90M $63.50M
YoY Change -235.59% 44.65% 388.46%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">NEW ACCOUNTING PRONOUNCEMENTS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">No new accounting pronouncements were issued or adopted during the first nine months of 2011 which would have a material impact on our financial condition, results of operations or cash flows.</font></div></div>
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2010Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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162200000 USD
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280300000 USD
CY2011Q3 wec Capital Lease Agreement With Vie Remaining Term In Years
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11
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519000000 USD
CY2011Q3 wec Cost Of Gas Sold
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69200000 USD
wec Cost Of Gas Sold
CostOfGasSold
533400000 USD
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CostOfGasSold
67400000 USD
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0.14
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37000000 USD
wec Distributions From Transmission Affiliate
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37000000 USD
CY2011Q3 wec Elimination Included In Total Assets
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2392000000 USD
CY2010Q3 wec Elimination Included In Total Assets
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1803300000 USD
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335600000 USD
wec Fuel And Purchased Power
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904500000 USD
CY2011Q3 wec Fuel And Purchased Power
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350900000 USD
wec Fuel And Purchased Power
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871400000 USD
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100000 USD
wec Maximum Percentage Award Based On Performance Unit
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wec New Generating Units Built
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4
CY2011Q3 wec Number Of Agreements With Vies
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2
CY2011Q3 wec Number Of Operating Leases With Vies
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1
CY2011Q3 wec Operating Lease Agreement With Vie Remaining Term In Years
OperatingLeaseAgreementWithVieRemainingTermInYears
2
wec Power Capacity Under Capital Lease
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236
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38000000 USD
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28900000 USD
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26900000 USD
wec Property And Revenue Taxes
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wec Property And Revenue Taxes
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85500000 USD
wec Return On Equity After Tax
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wec Share Based Compensation Arrangement By Share Based Payment Award Award Percentage To Vest Each Year After Grant Date
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0.33
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0.020
wec Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
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0.020
CY2011Q3 wec Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Period
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualPeriod
4.7 Years
CY2011Q3 wec Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Period
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualPeriod
5.5 Years
CY2011Q3 wec Significant Change In Unrecognized Tax Benefit Is Reasonably Possible Amount Of Decrease Attributable To Discontinued Operations
SignificantChangeInUnrecognizedTaxBenefitIsReasonablyPossibleAmountOfDecreaseAttributableToDiscontinuedOperations
1500000 USD
CY2011Q3 wec Total Capitalization
TotalCapitalization
8590000000 USD
CY2010Q4 wec Total Capitalization
TotalCapitalization
7764500000 USD
CY2011Q3 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1735200000 USD
CY2010Q4 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1750900000 USD
CY2010Q4 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
3574200000 USD
CY2011Q3 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
3570100000 USD
wec Unrecognized Tax Benefits Period Increase Decrease Related To Discontinued Operations
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-10200000 USD
wec Weighted Average Pre Tax Cost Of Interest
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0.05
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
dei Document Period End Date
DocumentPeriodEndDate
2011-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000783325
CY2011Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
231267725 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2011Q2 dei Entity Public Float
EntityPublicFloat
7300000000 USD
dei Entity Registrant Name
EntityRegistrantName
WISCONSIN ENERGY CORP
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

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