Investments (Tables)

12 Months Ended

Dec. 31, 2022

Investments Disclosure [Abstract]

Equity Method and Other Investments

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

	MGE Energy				MGE
(In thousands)	2022		2021		2022		2021
Equity securities	$	22,960	$	20,529	$	115	$	230
Equity method investments:
ATC and ATC Holdco		80,586		75,862		—		—
Other		39		39		—		—
Total equity method investments		80,625		75,901		—		—
Other investments		2,298		2,324		—		—
Total	$	105,883	$	98,754	$	115	$	230

For the years ended December 31, 2022, 2021, and 2020, there were no liquidated investments for MGE. For the years ended December 31, 2022, 2021, and 2020, certain investments were liquidated for MGE Energy. As a result of these liquidations, the following was received:

(In thousands)	2022		2021		2020
Cash proceeds	$	924	$	1,684	$	622
Gain on sale		1,382		1,543		379

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)	2022		2021		2020
Equity earnings from investment in ATC	$	9,025	$	9,774	$	10,167
Dividends received from ATC		7,090		7,832		8,633
Capital contributions to ATC		2,678		—		1,249

In January 2023, MGE Transco made a $0.4 million capital contribution to ATC.

(In thousands)
Income statement data for the year ended December 31,	2022			2021			2020
Operating revenues	$	751,158		$	754,838		$	758,117
Operating expenses		(381,528	)		(376,153	)		(372,463	)
Other income		1,171			1,144			1,922
Interest expense, net		(124,091	)		(115,089	)		(112,818	)
Earnings before members' income taxes	$	246,710		$	264,740		$	274,758
Balance sheet data as of December 31,	2022			2021
Current assets	$	89,606		$	89,747
Noncurrent assets		5,997,780			5,628,127
Total assets	$	6,087,386		$	5,717,874
Current liabilities	$	511,945		$	436,918
Long-term debt		2,612,980			2,513,009
Other noncurrent liabilities		485,795			421,997
Members' equity		2,476,666			2,345,950
Total members' equity and liabilities	$	6,087,386		$	5,717,874