2014 Q1 Form 10-Q Financial Statement

#000010781514000057 Filed on May 02, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $1.695B $1.275B
YoY Change 32.92% 7.05%
Cost Of Revenue $591.5M $270.1M
YoY Change 118.99% 13.73%
Gross Profit $1.104B $1.005B
YoY Change 9.79% 5.39%
Gross Profit Margin 65.1% 78.82%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.6M $95.50M
YoY Change 5.34% 9.02%
% of Gross Profit 9.12% 9.5%
Operating Expenses $721.7M $684.1M
YoY Change 5.5% 3.97%
Operating Profit $381.8M $321.0M
YoY Change 18.94% 8.56%
Interest Expense $62.30M $65.00M
YoY Change -4.15% 10.36%
% of Operating Profit 16.32% 20.25%
Other Income/Expense, Net $1.100M $4.400M
YoY Change -75.0% -72.5%
Pretax Income $337.9M $277.0M
YoY Change 21.99% 3.2%
Income Tax $130.3M $100.4M
% Of Pretax Income 38.56% 36.25%
Net Earnings $207.6M $176.6M
YoY Change 17.55% 2.61%
Net Earnings / Revenue 12.25% 13.85%
Basic Earnings Per Share $0.92
Diluted Earnings Per Share $0.91 $0.76
COMMON SHARES
Basic Shares Outstanding 225.8M shares 228.9M shares
Diluted Shares Outstanding 227.7M shares 231.2M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.00M $25.00M
YoY Change 12.0% 38.89%
Cash & Equivalents $27.60M $24.70M
Short-Term Investments
Other Short-Term Assets $387.0M $387.0M
YoY Change 0.0% 3.75%
Inventory $235.0M $267.0M
Prepaid Expenses
Receivables $605.8M $389.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.545B $1.314B
YoY Change 17.6% 2.66%
LONG-TERM ASSETS
Property, Plant & Equipment $10.94B $10.62B
YoY Change 3.07% 3.72%
Goodwill $441.9M $441.9M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $445.0M $420.0M
YoY Change 5.95% 6.87%
Other Assets $328.8M $179.8M
YoY Change 82.87% -2.76%
Total Long-Term Assets $13.26B $12.98B
YoY Change 2.11% 3.51%
TOTAL ASSETS
Total Short-Term Assets $1.545B $1.314B
Total Long-Term Assets $13.26B $12.98B
Total Assets $14.80B $14.30B
YoY Change 3.54% 3.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $435.0M $257.1M
YoY Change 69.19% 7.44%
Accrued Expenses $73.00M $72.00M
YoY Change 1.39% -8.86%
Deferred Revenue
YoY Change
Short-Term Debt $422.0M $317.0M
YoY Change 33.12% -43.09%
Long-Term Debt Due $343.8M $413.5M
YoY Change -16.86% 1123.37%
Total Short-Term Liabilities $1.425B $1.278B
YoY Change 11.46% 9.06%
LONG-TERM LIABILITIES
Long-Term Debt $4.349B $4.441B
YoY Change -2.08% -3.52%
Other Long-Term Liabilities $280.2M $276.4M
YoY Change 1.37% -7.87%
Total Long-Term Liabilities $4.629B $4.717B
YoY Change -1.87% -3.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.425B $1.278B
Total Long-Term Liabilities $4.629B $4.717B
Total Liabilities $6.054B $5.996B
YoY Change 0.97% -1.3%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $4.322B $4.204B
YoY Change 2.82% 3.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.352B $4.234B
YoY Change
Total Liabilities & Shareholders Equity $14.80B $14.30B
YoY Change 3.54% 3.43%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $207.6M $176.6M
YoY Change 17.55% 2.61%
Depreciation, Depletion And Amortization $100.6M $95.50M
YoY Change 5.34% 9.02%
Cash From Operating Activities $385.1M $330.3M
YoY Change 16.59% -3.0%
INVESTING ACTIVITIES
Capital Expenditures $129.2M $133.6M
YoY Change -3.29% -6.11%
Acquisitions
YoY Change
Other Investing Activities $6.000M $10.40M
YoY Change -42.31% 65.08%
Cash From Investing Activities -$139.1M -$145.3M
YoY Change -4.27% 11.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $52.60M $66.50M
YoY Change -20.9% 127.74%
Debt Paid & Issued, Net $8.900M $8.500M
YoY Change 4.71% 6.25%
Cash From Financing Activities -$244.4M -$195.9M
YoY Change 24.76% -4.95%
NET CHANGE
Cash From Operating Activities $385.1M $330.3M
Cash From Investing Activities -$139.1M -$145.3M
Cash From Financing Activities -$244.4M -$195.9M
Net Change In Cash $1.600M -$10.90M
YoY Change -114.68% -372.5%
FREE CASH FLOW
Cash From Operating Activities $385.1M $330.3M
Capital Expenditures $129.2M $133.6M
Free Cash Flow $255.9M $196.7M
YoY Change 30.1% -0.76%

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SalesRevenueEnergyServices
1275200000 USD
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.037
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.038
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.180
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.180
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5337979 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
23.80
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
15300000 USD
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
24400000 USD
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8276994 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.82
CY2013Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M
CY2014Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M
CY2014Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P4Y1M
CY2014Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y9M
CY2014Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1200000 shares
CY2013Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1700000 shares
CY2013Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
66500000 USD
CY2014Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
52600000 USD
CY2014Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
30600000 USD
CY2013Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
29500000 USD
CY2013Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
954200000 USD
CY2014Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
1316700000 USD
CY2013Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
288100000 USD
CY2014Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
275400000 USD
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
231200000 shares
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
227700000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
228900000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
225800000 shares
CY2013Q4 wec Accrued Revenues
AccruedRevenues
321100000 USD
CY2014Q1 wec Accrued Revenues
AccruedRevenues
289200000 USD
CY2014Q1 wec Capital Lease Agreement With Vie Remaining Term In Years
CapitalLeaseAgreementWithVieRemainingTermInYears
8
CY2014Q1 wec Power Capacity Under Capital Lease
PowerCapacityUnderCapitalLease
236
CY2014Q1 wec Reclassificationofdeferredtaxassets
Reclassificationofdeferredtaxassets
59000000 USD
CY2014Q1 wec Share Based Compensation Arrangement By Share Based Payment Award Award Percentage To Vest Each Year After Grant Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPercentageToVestEachYearAfterGrantDate
0.33
CY2014Q1 wec Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.020
CY2013Q1 wec Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.020
CY2013Q4 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1872900000 USD
CY2014Q1 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1868700000 USD
CY2013Q4 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
4646400000 USD
CY2014Q1 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
4675000000 USD
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000783325
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
225519455 shares
CY2014Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2013Q2 dei Entity Public Float
EntityPublicFloat
9300000000 USD
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
WISCONSIN ENERGY CORP
CY2014Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

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0000107815-14-000057-index-headers.html Edgar Link pending
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0000107815-14-000057.txt Edgar Link pending
0000107815-14-000057-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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wec-20140331.xml Edgar Link completed
wec-20140331.xsd Edgar Link pending
wec-20140331_cal.xml Edgar Link unprocessable
wec-20140331_def.xml Edgar Link unprocessable
wec-20140331_lab.xml Edgar Link unprocessable
wec-20140331_pre.xml Edgar Link unprocessable
wec0331201410q.htm Edgar Link pending
wec03312014ex311.htm Edgar Link pending
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