INVESTMENT IN ATC

3 Months Ended

Mar. 31, 2013

NOTE 6 — INVESTMENT IN ATC

Our electric transmission investment segment consists of WPS Investments LLC’s ownership interest in ATC, which was approximately 34% at March 31, 2013. ATC is a for-profit, transmission-only company regulated by FERC.

The following table shows changes to our investment in ATC.



	Three Months Ended March 31
(Millions)	2013		2012
Balance at the beginning of period	$	476.6	$	439.4
Add: Earnings from equity method investment	21.7		20.8
Add: Capital contributions	1.7		3.4
Less: Dividends received	17.3		16.7
Balance at the end of period	$	482.7	$	446.9

Financial data for all of ATC is included in the following tables:



	Three Months Ended March 31
(Millions)	2013		2012
Income statement data
Revenues	$	151.8	$	147.7
Operating expenses	69.8		69.6
Other expense	21.5		20.0
Net income	$	60.5	$	58.1



(Millions)	March 31, 2013		December 31, 2012
Balance sheet data
Current assets	$	69.3	$	63.1
Noncurrent assets	3,325.3		3,274.7
Total assets	$	3,394.6	$	3,337.8

Current liabilities	$	261.5	$	251.5
Long-term debt	1,550.0		1,550.0
Other noncurrent liabilities	124.8		95.8
Shareholders’ equity	1,458.3		1,440.5
Total liabilities and shareholders’ equity	$	3,394.6	$	3,337.8

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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