2013 Q1 Form 10-Q Financial Statement

#000010781513000080 Filed on May 02, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $1.275B $1.191B
YoY Change 7.05% -10.35%
Cost Of Revenue $270.1M $237.5M
YoY Change 13.73% -30.64%
Gross Profit $1.005B $953.7M
YoY Change 5.39% -3.31%
Gross Profit Margin 78.82% 80.06%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $95.50M $87.60M
YoY Change 9.02% 7.75%
% of Gross Profit 9.5% 9.19%
Operating Expenses $684.1M $658.0M
YoY Change 3.97% -4.73%
Operating Profit $321.0M $295.7M
YoY Change 8.56% 0.03%
Interest Expense $65.00M $58.90M
YoY Change 10.36% -7.1%
% of Operating Profit 20.25% 19.92%
Other Income/Expense, Net $4.400M $16.00M
YoY Change -72.5% 28.0%
Pretax Income $277.0M $268.4M
YoY Change 3.2% 3.15%
Income Tax $100.4M $96.30M
% Of Pretax Income 36.25% 35.88%
Net Earnings $176.6M $172.1M
YoY Change 2.61% 0.7%
Net Earnings / Revenue 13.85% 14.45%
Basic Earnings Per Share
Diluted Earnings Per Share $0.76 $0.74
COMMON SHARES
Basic Shares Outstanding 228.9M shares 230.5M shares
Diluted Shares Outstanding 231.2M shares 233.2M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.00M $18.00M
YoY Change 38.89% -92.37%
Cash & Equivalents $24.70M $18.10M
Short-Term Investments
Other Short-Term Assets $387.0M $373.0M
YoY Change 3.75% 29.07%
Inventory $267.0M $312.0M
Prepaid Expenses
Receivables $389.0M $386.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.314B $1.280B
YoY Change 2.66% -12.33%
LONG-TERM ASSETS
Property, Plant & Equipment $10.62B $10.24B
YoY Change 3.72% 6.18%
Goodwill $441.9M $441.9M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $420.0M $393.0M
YoY Change 6.87% 4.8%
Other Assets $179.8M $184.9M
YoY Change -2.76% -14.16%
Total Long-Term Assets $12.98B $12.54B
YoY Change 3.51% 6.93%
TOTAL ASSETS
Total Short-Term Assets $1.314B $1.280B
Total Long-Term Assets $12.98B $12.54B
Total Assets $14.30B $13.82B
YoY Change 3.43% 4.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $257.1M $239.3M
YoY Change 7.44% -11.07%
Accrued Expenses $72.00M $79.00M
YoY Change -8.86%
Deferred Revenue
YoY Change
Short-Term Debt $317.0M $557.0M
YoY Change -43.09% 97.52%
Long-Term Debt Due $413.5M $33.80M
YoY Change 1123.37% -92.96%
Total Short-Term Liabilities $1.278B $1.172B
YoY Change 9.06% -12.56%
LONG-TERM LIABILITIES
Long-Term Debt $4.441B $4.603B
YoY Change -3.52% 6.08%
Other Long-Term Liabilities $276.4M $300.0M
YoY Change -7.87% -16.5%
Total Long-Term Liabilities $4.717B $4.903B
YoY Change -3.78% 4.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.278B $1.172B
Total Long-Term Liabilities $4.717B $4.903B
Total Liabilities $5.996B $6.075B
YoY Change -1.3% 0.6%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $4.204B $4.052B
YoY Change 3.75% 3.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.234B $4.082B
YoY Change
Total Liabilities & Shareholders Equity $14.30B $13.82B
YoY Change 3.43% 4.8%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $176.6M $172.1M
YoY Change 2.61% 0.7%
Depreciation, Depletion And Amortization $95.50M $87.60M
YoY Change 9.02% 7.75%
Cash From Operating Activities $330.3M $340.5M
YoY Change -3.0% -12.92%
INVESTING ACTIVITIES
Capital Expenditures $133.6M $142.3M
YoY Change -6.11% 5.02%
Acquisitions
YoY Change
Other Investing Activities $10.40M $6.300M
YoY Change 65.08% -14.86%
Cash From Investing Activities -$145.3M -$130.4M
YoY Change 11.43% -9.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $66.50M $29.20M
YoY Change 127.74% 17.27%
Debt Paid & Issued, Net $8.500M $8.000M
YoY Change 6.25% 60.0%
Cash From Financing Activities -$195.9M -$206.1M
YoY Change -4.95% 487.18%
NET CHANGE
Cash From Operating Activities $330.3M $340.5M
Cash From Investing Activities -$145.3M -$130.4M
Cash From Financing Activities -$195.9M -$206.1M
Net Change In Cash -$10.90M $4.000M
YoY Change -372.5% -98.11%
FREE CASH FLOW
Cash From Operating Activities $330.3M $340.5M
Capital Expenditures $133.6M $142.3M
Free Cash Flow $196.7M $198.2M
YoY Change -0.76% -22.43%

Facts In Submission

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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.037
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.180
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.190
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6633593 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
22.92
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
24400000 USD
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
12000000 USD
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9064023 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.34
CY2013Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M
CY2012Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M
CY2013Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P4Y8M
CY2013Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y11M
CY2013Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1700000 shares
CY2012Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
800000 shares
CY2012Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
28300000 USD
CY2013Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
66500000 USD
CY2013Q1 us-gaap Tax Benefit From Stock Options Exercised1
TaxBenefitFromStockOptionsExercised1
9700000 USD
CY2012Q1 us-gaap Tax Benefit From Stock Options Exercised1
TaxBenefitFromStockOptionsExercised1
0 USD
CY2012Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
30300000 USD
CY2013Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
29500000 USD
CY2013Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
954200000 USD
CY2012Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
895500000 USD
CY2013Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
288100000 USD
CY2012Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
286300000 USD
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
233200000 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
231200000 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
230500000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
228900000 shares
CY2012Q4 wec Accrued Revenues
AccruedRevenues
278100000 USD
CY2013Q1 wec Accrued Revenues
AccruedRevenues
246300000 USD
CY2013Q1 wec Capital Lease Agreement With Vie Remaining Term In Years
CapitalLeaseAgreementWithVieRemainingTermInYears
9
CY2012Q1 wec Fuel And Purchased Power
FuelAndPurchasedPower
253800000 USD
CY2013Q1 wec Fuel And Purchased Power
FuelAndPurchasedPower
271000000 USD
CY2013Q1 wec Maximum Percentage Award Based On Performance Unit
MaximumPercentageAwardBasedOnPerformanceUnit
1.75
CY2013Q1 wec Minimum Percentage Award Based On Performance Unit
MinimumPercentageAwardBasedOnPerformanceUnit
0.00
CY2013Q1 wec Power Capacity Under Capital Lease
PowerCapacityUnderCapitalLease
236
CY2013Q1 wec Share Based Compensation Arrangement By Share Based Payment Award Award Percentage To Vest Each Year After Grant Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPercentageToVestEachYearAfterGrantDate
0.33
CY2013Q1 wec Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.020
CY2012Q1 wec Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.020
CY2013Q1 wec Total Capitalization
TotalCapitalization
8675000000 USD
CY2012Q4 wec Total Capitalization
TotalCapitalization
8619300000 USD
CY2013Q1 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1945600000 USD
CY2012Q4 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1985100000 USD
CY2012Q4 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
4222400000 USD
CY2013Q1 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
4342200000 USD
CY2013Q1 dei Amendment Flag
AmendmentFlag
false
CY2013Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013Q1 dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
CY2013Q1 dei Document Type
DocumentType
10-Q
CY2013Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000783325
CY2013Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
228723020 shares
CY2013Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q2 dei Entity Public Float
EntityPublicFloat
9100000000 USD
CY2013Q1 dei Entity Registrant Name
EntityRegistrantName
WISCONSIN ENERGY CORP
CY2013Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

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0000107815-13-000080.txt Edgar Link pending
0000107815-13-000080-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
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report.css Edgar Link pending
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wec-20130331.xml Edgar Link completed
wec-20130331.xsd Edgar Link pending
wec-20130331_cal.xml Edgar Link unprocessable
wec-20130331_def.xml Edgar Link unprocessable
wec-20130331_lab.xml Edgar Link unprocessable
wec-20130331_pre.xml Edgar Link unprocessable
wec0331201310q.htm Edgar Link pending
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