Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

:

	Three Months Ended March 31, 2025
(Millions of Dollars)	Regulated electric utility		Regulated natural gas utility		Total segments
Operating revenues (a)	$	259	$	68	$	327
Electric fuel and purchased power	106		—		106
Cost of natural gas sold and transported	—		33		33
O&M expenses	55		8		63
Depreciation and amortization	41		8		49
Other segment expenses, net	6		—		6
Interest charges and financing costs	14		2		16
Income tax expense	8		4		12
Net income	$	29	$	13	$	42
Total segment net income					$	42
Non-segment net income					—
Consolidated net income					$	42

(a)Operating revenues include $56 million of affiliate electric revenue.

	Three Months Ended March 31, 2024
(Millions of Dollars)	Regulated electric utility		Regulated natural gas utility		Total segments
Operating revenues (a)	$	256	$	54	$	310
Electric fuel and purchased power	107		—		107
Cost of natural gas sold and transported	—		24		24
O&M expenses	49		7		56
Depreciation and amortization	38		7		45
Other segment expenses, net	7		2		9
Interest charges and financing costs	12		1		13
Income tax expense	10		3		13
Net income	$	33	$	10	$	43
Total segment net income					$	43
Non-segment net income					—
Consolidated net income					$	43

(a)Operating revenues include $53 million of affiliate electric revenue.

Asset and capital expenditure information is not provided for NSP-Wisconsin's reportable segments. As an integrated electric and natural gas utility, NSP-Wisconsin operates significant assets that are not dedicated to a specific business segment. Reporting assets and capital expenditures by business segment would require arbitrary and potentially misleading allocations, which may not necessarily reflect the assets that would be required for the operation of the business segments on a stand-alone basis.

Certain costs, such as common depreciation, common O&M expenses and interest expense are allocated based on cost causation allocators across each segment. In addition, a general allocator is used for certain general and administrative expenses, including office supplies, rent, property insurance and general advertising.

Other segment expenses, net, for the reportable segments includes conservation and DSM expenses, taxes (other than income taxes), other income (expense), net, intersegment expenses and AFUDC - equity.