Goodwill and Intangibles (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes to goodwill balances by segment

The table below shows our goodwill balances by segment at December 31, 2021. We had no changes to the carrying amount of goodwill during the years ended December 31, 2021 and 2020.

(in millions)	Wisconsin		Illinois		Other States		Non-Utility Energy Infrastructure		Total
Goodwill balance (1)	$	2,104.3	$	758.7	$	183.2	$	6.6	$	3,052.8

(1)    We had no accumulated impairment losses related to our goodwill as of December 31, 2021.

Schedule of intangible liabilities obtained through acquisitions by WECI

The intangible liabilities below were all obtained through acquisitions by WECI and are classified as other long-term liabilities on our balance sheets. See Note 2, Acquisitions, for more information.

	December 31, 2021						December 31, 2020
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
PPAs (1)	$	87.9	$	(6.5)	$	81.4	$	76.1	$	—	$	76.1
Proxy revenue swap (2)	7.2		(2.1)		5.1		7.2		(1.3)		5.9
Interconnection agreements (3)	4.7		(0.5)		4.2		5.1		(0.3)		4.8
Total intangible liabilities	$	99.8	$	(9.1)	$	90.7	$	88.4	$	(1.6)	$	86.8

(1)    Represents PPAs related to the acquisition of Blooming Grove, Tatanka Ridge, and Jayhawk expiring between 2030 and 2032. The weighted-average remaining useful life of the PPAs is 11 years.

(2)    Represents an agreement with a counterparty to swap the market revenue of Upstream's wind generation for fixed quarterly payments over 10 years, which expires in 2029. The remaining useful life of the proxy revenue swap is seven years.

(3)    Represents interconnection agreements related to the acquisitions of Tatanka Ridge and Bishop Hill III, expiring in 2040 and 2041, respectively. These agreements relate to payments for connecting our facilities to the infrastructure of another utility to facilitate the movement of power onto the electric grid. The weighted-average remaining useful life of the interconnection agreements is 19 years.

Schedule of amortization over the next five years

Amortization for the next five years is estimated to be:

	For the Years Ending December 31
(in millions)	2022		2023		2024		2025		2026
Amortization to be recorded in operating revenues	$	8.5	$	8.4	$	8.4	$	8.4	$	8.4
Amortization to be recorded in other operation and maintenance	0.2		0.2		0.2		0.2		0.2