2014 Q1 Form 10-Q Financial Statement

#000010781514000058 Filed on May 02, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $1.227B $1.005B
YoY Change 22.11%
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 $72.70M $68.40M
YoY Change 6.29% 11.76%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit $221.8M $173.1M
YoY Change 28.13% 0.46%
Interest Expense $30.90M $31.90M
YoY Change -3.13% 26.59%
% of Operating Profit 13.93% 18.43%
Other Income/Expense, Net $800.0K $4.100M
YoY Change -80.49% -74.21%
Pretax Income $206.9M $160.0M
YoY Change 29.31% -9.45%
Income Tax $79.60M $55.30M
% Of Pretax Income 38.47% 34.56%
Net Earnings $127.3M $104.7M
YoY Change 21.59% -9.66%
Net Earnings / Revenue 10.38% 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 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $26.70M $24.10M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $431.7M $281.6M
Other Receivables
Total Short-Term Assets $1.033B $1.008B
YoY Change 2.47% -4.06%
LONG-TERM ASSETS
Property, Plant & Equipment $9.288B $9.134B
YoY Change 1.68% 3.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $130.8M $138.0M
YoY Change -5.22% -8.49%
Total Long-Term Assets $11.17B $11.08B
YoY Change 0.79% 4.32%
TOTAL ASSETS
Total Short-Term Assets $1.033B $1.008B
Total Long-Term Assets $11.17B $11.08B
Total Assets $12.20B $12.09B
YoY Change 0.93% 3.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $289.0M $200.9M
YoY Change 43.85% 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 $1.093B $957.0M
YoY Change 14.2% 8.18%
LONG-TERM LIABILITIES
Long-Term Debt $2.168B $2.217B
YoY Change -2.22% -2.24%
Other Long-Term Liabilities $206.7M $204.5M
YoY Change 1.08% -7.09%
Total Long-Term Liabilities $2.375B $2.422B
YoY Change -1.94% -2.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.093B $957.0M
Total Long-Term Liabilities $2.375B $2.422B
Total Liabilities $3.468B $3.379B
YoY Change 2.63% 0.17%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.430B $3.419B
YoY Change 0.32% 5.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $12.20B $12.09B
YoY Change 0.93% 3.57%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $127.3M $104.7M
YoY Change 21.59% -9.66%
Depreciation, Depletion And Amortization $72.70M $68.40M
YoY Change 6.29% 11.76%
Cash From Operating Activities $283.8M $185.3M
YoY Change 53.16% -19.5%
INVESTING ACTIVITIES
Capital Expenditures $96.00M $108.7M
YoY Change -11.68%
Acquisitions
YoY Change
Other Investing Activities $4.900M $8.100M
YoY Change -39.51% -33.06%
Cash From Investing Activities -$104.4M -$118.0M
YoY Change -11.53% 6.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$177.8M -$77.30M
YoY Change 130.01% -33.19%
NET CHANGE
Cash From Operating Activities $283.8M $185.3M
Cash From Investing Activities -$104.4M -$118.0M
Cash From Financing Activities -$177.8M -$77.30M
Net Change In Cash $1.600M -$10.00M
YoY Change -116.0% -363.16%
FREE CASH FLOW
Cash From Operating Activities $283.8M $185.3M
Capital Expenditures $96.00M $108.7M
Free Cash Flow $187.8M $76.60M
YoY Change 145.17%

Facts In Submission

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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5070842 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
23.83
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
13900000 USD
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
22000000 USD
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7897837 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.89
CY2014Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
28500000 USD
CY2013Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
27700000 USD
CY2013Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
831500000 USD
CY2014Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
1008400000 USD
CY2014Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
337600000 USD
CY2013Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
350300000 USD
CY2013Q4 wec Accrued Revenues
AccruedRevenues
240700000 USD
CY2014Q1 wec Accrued Revenues
AccruedRevenues
202400000 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 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
CY2014Q1 wec Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.020
CY2014Q1 wec Subsidiary Note Payable To Wisconsin Energy
SubsidiaryNotePayableToWisconsinEnergy
22600000 USD
CY2013Q4 wec Subsidiary Note Payable To Wisconsin Energy
SubsidiaryNotePayableToWisconsinEnergy
22800000 USD
CY2013Q4 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1534800000 USD
CY2014Q1 wec Total Deferred Charges And Other Assets
TotalDeferredChargesAndOtherAssets
1520100000 USD
CY2013Q4 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
2811000000 USD
CY2014Q1 wec Total Deferred Credits And Other Liabilities
TotalDeferredCreditsAndOtherLiabilities
2775800000 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
0000107815
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
33289327 shares
CY2014Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2013Q2 dei Entity Public Float
EntityPublicFloat
27000000 USD
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
WISCONSIN ELECTRIC POWER CO
CY2014Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

Name View Source Status
0000107815-14-000058-index-headers.html Edgar Link pending
0000107815-14-000058-index.html Edgar Link pending
0000107815-14-000058.txt Edgar Link pending
0000107815-14-000058-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
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report.css 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
wepco0331201410q.htm Edgar Link pending
wepco03312014ex121.htm Edgar Link pending
wepco03312014ex311.htm Edgar Link pending
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wepco03312014ex321.htm Edgar Link pending
wepco03312014ex322.htm Edgar Link pending