SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

We use net income to measure segment profitability and to allocate resources to our businesses. At June 30, 2024, we reported two segments, which are described below.

Our utility segment includes our electric and natural gas utility operations, which serve customers in northeastern and central Wisconsin. Our electric utility operations are engaged in the generation, distribution, and sale of electricity. Our natural gas utility operations are engaged in the purchase, distribution, and sale of natural gas to retail customers as well as the transportation of customer-owned natural gas.

Our other segment primarily consists of equity earnings from our investment in Wisconsin River Power Company.

All of our operations and assets are located within the United States. The following tables show summarized financial information for the three and six months ended June 30, 2024 and 2023, related to our reportable segments:

(in millions)	Utility		Other		Wisconsin Public Service Corporation
Three months ended June 30, 2024
Operating revenues	$	337.0	$	—	$	337.0
Other operation and maintenance	111.3		—		111.3
Depreciation and amortization	59.2		—		59.2
Other income, net	11.9		0.6		12.5
Interest expense	23.9		—		23.9
Income tax expense	10.0		0.2		10.2
Net income	43.3		0.4		43.7
(in millions)	Utility		Other		Wisconsin Public Service Corporation
Three months ended June 30, 2023
Operating revenues	$	381.0	$	—	$	381.0
Other operation and maintenance	105.4		—		105.4
Depreciation and amortization	56.2		—		56.2
Other income, net	12.1		0.6		12.7
Interest expense	22.2		—		22.2
Income tax expense	16.1		0.2		16.3
Net income	63.7		0.4		64.1
(in millions)	Utility		Other		Wisconsin Public Service Corporation
Six months ended June 30, 2024
Operating revenues	$	764.2	$	—	$	764.2
Other operation and maintenance	215.9		—		215.9
Depreciation and amortization	118.3		—		118.3
Other income, net	22.8		1.2		24.0
Interest expense	47.9		—		47.9
Income tax expense	26.6		0.3		26.9
Net income	110.2		0.9		111.1
(in millions)	Utility		Other		Wisconsin Public Service Corporation
Six months ended June 30, 2023
Operating revenues	$	872.5	$	—	$	872.5
Other operation and maintenance	213.3		—		213.3
Depreciation and amortization	111.2		—		111.2
Other income, net	23.1		1.3		24.4
Interest expense	44.0		—		44.0
Income tax expense	28.6		0.3		28.9
Net income	129.4		1.0		130.4