Investments (Tables)

12 Months Ended

Dec. 31, 2021

Investments Disclosure [Abstract]

Equity Method and Other Investments

a.Equity Securities, Equity Method Investments, and Other Investments.

	MGE Energy				MGE
(In thousands)	2021		2020		2021		2020
Equity securities	$	20,529	$	17,906	$	230	$	603
Equity method investments:
ATC and ATC Holdco		75,862		74,423		—		—
Other		39		39		—		—
Total equity method investments		75,901		74,462		—		—
Other investments		2,324		2,308		—		—
Total	$	98,754	$	94,676	$	230	$	603

During the years ended December 31, 2021, 2020, and 2019, certain investments were liquidated. As a result of these liquidations, the following was received:

	MGE Energy						MGE
(In thousands)	2021		2020		2019		2021		2020		2019
Cash proceeds	$	1,684	$	622	$	216	$	—	$	—	$	2
Gain (loss) on sale		1,543		379		580		—		—		(343	)

Equity Method Investments Summarized Financial Data

Equity earnings from investments are recorded as "Other income" on the consolidated statements of income of MGE Energy. For the years ended December 31, MGE Transco recorded the following:

(In thousands)	2021		2020		2019
Equity earnings from investment in ATC	$	9,774	$	10,167	$	9,889
Dividends received from ATC		7,832		8,633		7,347
Capital contributions to ATC		—		1,249		3,018

In January 2022, MGE Transco made a $1.2 million capital contribution to ATC.

(In thousands)
Income statement data for the year ended December 31,	2021			2020			2019
Operating revenues	$	754,838		$	758,117		$	744,371
Operating expenses		(376,153	)		(372,463	)		(373,527	)
Other income		1,144			1,922			48
Interest expense, net		(115,089	)		(112,818	)		(110,490	)
Earnings before members' income taxes	$	264,740		$	274,758		$	260,402
Balance sheet data as of December 31,	2021			2020
Current assets	$	89,747		$	92,735
Noncurrent assets		5,628,127			5,400,538
Total assets	$	5,717,874		$	5,493,273
Current liabilities	$	436,918		$	310,749
Long-term debt		2,513,009			2,512,246
Other noncurrent liabilities		421,997			378,205
Members' equity		2,345,950			2,292,073
Total members' equity and liabilities	$	5,717,874		$	5,493,273