2013 Q1 Form 10-Q Financial Statement

#000010781513000081 Filed on May 02, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $1.005B
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 $68.40M $61.20M
YoY Change 11.76% 12.5%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit $173.1M $172.3M
YoY Change 0.46% 10.95%
Interest Expense $31.90M $25.20M
YoY Change 26.59% 4.13%
% of Operating Profit 18.43% 14.63%
Other Income/Expense, Net $4.100M $15.90M
YoY Change -74.21% 29.27%
Pretax Income $160.0M $176.7M
YoY Change -9.45% 12.55%
Income Tax $55.30M $60.80M
% Of Pretax Income 34.56% 34.41%
Net Earnings $104.7M $115.9M
YoY Change -9.66% 7.81%
Net Earnings / Revenue 10.42%
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 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $24.10M $16.50M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $281.6M $287.2M
Other Receivables
Total Short-Term Assets $1.008B $1.051B
YoY Change -4.06%
LONG-TERM ASSETS
Property, Plant & Equipment $9.134B $8.843B
YoY Change 3.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $138.0M $150.8M
YoY Change -8.49%
Total Long-Term Assets $11.08B $10.62B
YoY Change 4.32%
TOTAL ASSETS
Total Short-Term Assets $1.008B $1.051B
Total Long-Term Assets $11.08B $10.62B
Total Assets $12.09B $11.67B
YoY Change 3.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.9M $200.1M
YoY Change 0.4%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $957.0M $884.6M
YoY Change 8.18%
LONG-TERM LIABILITIES
Long-Term Debt $2.217B $2.268B
YoY Change -2.24%
Other Long-Term Liabilities $204.5M $220.1M
YoY Change -7.09%
Total Long-Term Liabilities $2.422B $2.488B
YoY Change -2.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $957.0M $884.6M
Total Long-Term Liabilities $2.422B $2.488B
Total Liabilities $3.379B $3.373B
YoY Change 0.17%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.419B $3.248B
YoY Change 5.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $12.09B $11.67B
YoY Change 3.57%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $104.7M $115.9M
YoY Change -9.66% 7.81%
Depreciation, Depletion And Amortization $68.40M $61.20M
YoY Change 11.76% 12.5%
Cash From Operating Activities $185.3M $230.2M
YoY Change -19.5% 9.78%
INVESTING ACTIVITIES
Capital Expenditures $108.7M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $8.100M $12.10M
YoY Change -33.06% 0.83%
Cash From Investing Activities -$118.0M -$110.7M
YoY Change 6.59% -11.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$77.30M -$115.7M
YoY Change -33.19% 20.65%
NET CHANGE
Cash From Operating Activities $185.3M $230.2M
Cash From Investing Activities -$118.0M -$110.7M
Cash From Financing Activities -$77.30M -$115.7M
Net Change In Cash -$10.00M $3.800M
YoY Change -363.16% -131.93%
FREE CASH FLOW
Cash From Operating Activities $185.3M $230.2M
Capital Expenditures $108.7M
Free Cash Flow $76.60M
YoY Change

Facts In Submission

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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
CY2012Q1 us-gaap Tax Benefit From Stock Options Exercised1
TaxBenefitFromStockOptionsExercised1
0 USD
CY2013Q1 us-gaap Tax Benefit From Stock Options Exercised1
TaxBenefitFromStockOptionsExercised1
8800000 USD
CY2013Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
27700000 USD
CY2012Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
28200000 USD
CY2013Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
831500000 USD
CY2012Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
774300000 USD
CY2012Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
329600000 USD
CY2013Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
350300000 USD
CY2012Q4 wec Accrued Revenues
AccruedRevenues
213800000 USD
CY2013Q1 wec Accrued Revenues
AccruedRevenues
192600000 USD
CY2013Q1 wec Capital Lease Agreement With Vie Remaining Term In Years
CapitalLeaseAgreementWithVieRemainingTermInYears
9
CY2013Q1 wec Fuel And Purchased Power
FuelAndPurchasedPower
272300000 USD
CY2012Q1 wec Fuel And Purchased Power
FuelAndPurchasedPower
255100000 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
CY2012Q4 wec Subsidiary Note Payable To Wisconsin Energy
SubsidiaryNotePayableToWisconsinEnergy
23400000 USD
CY2013Q1 wec Subsidiary Note Payable To Wisconsin Energy
SubsidiaryNotePayableToWisconsinEnergy
23100000 USD
CY2012Q4 wec Total Capitalization
TotalCapitalization
8316600000 USD
CY2013Q1 wec Total Capitalization
TotalCapitalization
8395100000 USD
CY2013Q1 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1608700000 USD
CY2012Q4 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1614500000 USD
CY2013Q1 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
2735900000 USD
CY2012Q4 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
2634300000 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
0000107815
CY2013Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
33289327 shares
CY2013Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2012Q2 dei Entity Public Float
EntityPublicFloat
26100000 USD
CY2013Q1 dei Entity Registrant Name
EntityRegistrantName
WISCONSIN ELECTRIC POWER CO
CY2013Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

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0000107815-13-000081-index-headers.html Edgar Link pending
0000107815-13-000081-index.html Edgar Link pending
0000107815-13-000081.txt Edgar Link pending
0000107815-13-000081-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
Show.js Edgar Link pending
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
wepco0331201310q.htm Edgar Link pending
wepco03312013ex121.htm Edgar Link pending
wepco03312013ex311.htm Edgar Link pending
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wepco03312013ex322.htm Edgar Link pending