Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2023

Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]

Non-Cash Transactions


	Year Ended December 31
(in millions)	2023		2022		2021
Cash paid for interest, net of amount capitalized	$	653.4	$	485.2	$	473.8
Cash paid (received) for income taxes, net (1)	(58.9)		52.4		33.8
Significant non-cash investing and financing transactions:
Accounts payable related to construction costs	171.3		197.4		127.8
Increase in receivables related to insurance proceeds	3.5		—		41.7
Liabilities accrued for software licensing agreement	—		7.4		—

(1) Cash received for income taxes in 2023 includes $75 million related to PTCs that were sold to a third party.

Restricted Cash

The statements of cash flows include our activity related to cash, cash equivalents, and restricted cash. The following table reconciles the cash, cash equivalents, and restricted cash amounts reported within the balance sheets at December 31 to the total of these amounts shown on the statements of cash flows:


(in millions)	2023		2022		2021
Cash and cash equivalents	$	42.9	$	28.9	$	16.3
Restricted cash included in other current assets	70.1		25.6		19.6
Restricted cash included in other long-term assets	52.2		127.7		51.6
Cash, cash equivalents, and restricted cash	$	165.2	$	182.2	$	87.5

Our restricted cash consisted of the following:

•Cash held in the Integrys rabbi trust, which is used to fund participants' benefits under the Integrys deferred compensation plan and certain Integrys non-qualified pension plans.

•Cash on deposit in financial institutions that is restricted to satisfy the requirements of certain debt agreements at WECI Wind Holding I, WECI Wind Holding II, and WEPCo Environmental Trust.

•Cash we received when WECI acquired ownership interests in certain renewable generation projects. This cash is restricted as it can only be used to pay for any remaining costs associated with the construction of the renewable generation facilities.

•Cash used by WE and WPS during January 2023 to purchase a natural gas-fired cogeneration facility located in Whitewater, Wisconsin. This cash was included in other long-term assets at December 31, 2022. See Note 2, Acquisitions, for more information on the purchase of this facility.