$WELPP
WISCONSIN ELECTRIC POWER CO

2012 Q3 Form 10-Q Financial Statement

#000010781512000133 Filed on November 02, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $951.9M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $65.00M $54.90M
YoY Change 18.4%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit $193.3M $143.1M
YoY Change 35.08% 2.51%
Interest Expense $27.50M $22.80M
YoY Change 20.61% -10.59%
% of Operating Profit 14.23% 15.93%
Other Income/Expense, Net $8.800M $16.20M
YoY Change -45.68% 70.53%
Pretax Income $189.6M $150.2M
YoY Change 26.23% 9.64%
Income Tax $67.10M $49.10M
% Of Pretax Income 35.39% 32.69%
Net Earnings $122.5M $101.1M
YoY Change 21.17% 12.83%
Net Earnings / Revenue 12.87%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 33.29M shares 33.29M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $12.10M $13.10M
Short-Term Investments
Other Short-Term Assets $46.70M
YoY Change
Inventory
Prepaid Expenses $143.8M
Receivables $269.6M $267.6M
Other Receivables
Total Short-Term Assets $969.1M $987.5M
YoY Change -1.86%
LONG-TERM ASSETS
Property, Plant & Equipment $8.984B $8.651B
YoY Change 3.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $147.1M $157.7M
YoY Change -6.72%
Total Long-Term Assets $10.84B $10.20B
YoY Change 6.27%
TOTAL ASSETS
Total Short-Term Assets $969.1M $987.5M
Total Long-Term Assets $10.84B $10.20B
Total Assets $11.81B $11.19B
YoY Change 5.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $240.4M $232.5M
YoY Change 3.4%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.145B $751.1M
YoY Change 52.39%
LONG-TERM LIABILITIES
Long-Term Debt $1.969B $2.267B
YoY Change -13.14%
Other Long-Term Liabilities $215.8M $250.2M
YoY Change -13.75%
Total Long-Term Liabilities $2.185B $2.517B
YoY Change -13.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.145B $751.1M
Total Long-Term Liabilities $2.185B $2.517B
Total Liabilities $3.330B $3.268B
YoY Change 1.87%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.365B $3.160B
YoY Change 6.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $11.81B $11.19B
YoY Change 5.55%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $122.5M $101.1M
YoY Change 21.17% 12.83%
Depreciation, Depletion And Amortization $65.00M $54.90M
YoY Change 18.4%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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2739100000 USD
CY2012Q3 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
951900000 USD
us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
2817800000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.039
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.039
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.190
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.190
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6984294 shares
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
22.10
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
20600000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
38700000 USD
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
7800000 USD
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8621864 shares
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
23.79
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P4Y10M
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y6M
us-gaap Tax Benefit From Stock Options Exercised1
TaxBenefitFromStockOptionsExercised1
0 USD
us-gaap Tax Benefit From Stock Options Exercised1
TaxBenefitFromStockOptionsExercised1
8200000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
84600000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
79100000 USD
CY2012Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
28200000 USD
CY2011Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
26900000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-7400000 USD
CY2011Q3 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
815200000 USD
CY2012Q3 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
758600000 USD
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
2241200000 USD
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
2438200000 USD
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
1062200000 USD
CY2011Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
353000000 USD
CY2012Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
305700000 USD
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
959700000 USD
CY2011Q4 wec Accrued Revenues
AccruedRevenues
200500000 USD
CY2012Q3 wec Accrued Revenues
AccruedRevenues
165100000 USD
wec Capital Lease Agreement With Vie Remaining Term In Years
CapitalLeaseAgreementWithVieRemainingTermInYears
10
CY2011Q3 wec Fuel And Purchased Power
FuelAndPurchasedPower
352100000 USD
wec Fuel And Purchased Power
FuelAndPurchasedPower
852800000 USD
CY2012Q3 wec Fuel And Purchased Power
FuelAndPurchasedPower
337700000 USD
wec Fuel And Purchased Power
FuelAndPurchasedPower
908100000 USD
wec Length Of Oc2 Lease In Years
LengthOfOc2LeaseInYears
30 Years
wec Maximum Percentage Award Based On Performance Unit
MaximumPercentageAwardBasedOnPerformanceUnit
1.75
wec Minimum Percentage Award Based On Performance Unit
MinimumPercentageAwardBasedOnPerformanceUnit
0.00
CY2012Q3 wec Number Of Agreements With Vies
NumberOfAgreementsWithVies
2
CY2012Q3 wec Number Of Operating Leases With Vies
NumberOfOperatingLeasesWithVies
1
wec Operating Lease Agreements With Vie Remaining Term In Years
OperatingLeaseAgreementsWithVieRemainingTermInYears
1 Years
wec Power Capacity Under Capital Lease
PowerCapacityUnderCapitalLease
236
wec Proceeds From Sale Of Interest In Unit
ProceedsFromSaleOfInterestInUnit
38000000 USD
wec Share Based Compensation Arrangement By Share Based Payment Award Award Percentage To Vest Each Year After Grant Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardPercentageToVestEachYearAfterGrantDate
0.33
wec Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.020
wec Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.020
CY2012Q3 wec Subsidiary Note Payable To Wisconsin Energy
SubsidiaryNotePayableToWisconsinEnergy
23900000 USD
CY2011Q4 wec Subsidiary Note Payable To Wisconsin Energy
SubsidiaryNotePayableToWisconsinEnergy
26800000 USD
CY2011Q4 wec Total Capitalization
TotalCapitalization
8191600000 USD
CY2012Q3 wec Total Capitalization
TotalCapitalization
8073800000 USD
CY2012Q3 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1526300000 USD
CY2011Q4 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1401500000 USD
CY2011Q4 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
2446600000 USD
CY2012Q3 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
2589200000 USD
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
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000107815
CY2012Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
33289327 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2012Q2 dei Entity Public Float
EntityPublicFloat
26100000 USD
dei Entity Registrant Name
EntityRegistrantName
WISCONSIN ELECTRIC POWER CO
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

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0000107815-12-000133-index-headers.html Edgar Link pending
0000107815-12-000133-index.html Edgar Link pending
0000107815-12-000133.txt Edgar Link pending
0000107815-12-000133-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-20120930.xml Edgar Link completed
wec-20120930.xsd Edgar Link pending
wec-20120930_cal.xml Edgar Link unprocessable
wec-20120930_def.xml Edgar Link unprocessable
wec-20120930_lab.xml Edgar Link unprocessable
wec-20120930_pre.xml Edgar Link unprocessable
wepco0930201210q.htm Edgar Link pending
wepco09302012ex121.htm Edgar Link pending
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