XML 16 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating Revenues:        
Electric revenues $ 139,104 $ 133,090 $ 378,102 $ 355,381
Gas revenue 21,424 30,310 147,677 169,305
Total Operating Revenues 160,528 163,400 525,779 524,686
Operating Expenses:        
Fuel for electric generation 19,712 21,045 47,118 48,410
Purchased power 7,021 9,593 28,252 35,757
Cost of gas sold 5,160 14,523 80,296 100,638
Other operations and maintenance 53,997 49,194 156,004 150,714
Depreciation and amortization 25,241 21,447 74,971 63,780
Other general taxes 5,605 5,111 16,922 15,579
Total Operating Expenses 116,736 120,913 403,563 414,878
Operating Income 43,792 42,487 122,216 109,808
Other income, net 10,549 6,068 20,841 20,736
Interest expense, net (7,654) (6,652) (22,901) (19,686)
Income before income taxes 46,687 41,903 120,156 110,858
Income tax provision (8,830) (8,183) (22,540) (20,957)
Net Income Including Noncontrolling Interest 37,857 33,720 97,616 89,901
Net Income $ 37,857 $ 33,720 $ 97,616 $ 89,901
Earnings per share of Common Stock - Basic $ 1.05 $ 0.93 $ 2.7 $ 2.49
Earnings per share of Common Stock - Diluted 1.05 0.93 2.7 2.49
Dividends per share of common stock $ 0.428 $ 0.408 $ 1.243 $ 1.183
Weighted Average Shares Outstanding - Basic 36,163 36,163 36,163 36,163
Weighted Average Shares Outstanding - Diluted 36,189 36,176 36,185 36,174
MGE [Member]        
Operating Revenues:        
Electric revenues $ 139,104 $ 133,090 $ 378,102 $ 355,381
Gas revenue 21,424 30,310 147,677 169,305
Total Operating Revenues 160,528 163,400 525,779 524,686
Operating Expenses:        
Fuel for electric generation 19,712 21,045 47,118 48,410
Purchased power 7,021 9,593 28,252 35,757
Cost of gas sold 5,160 14,523 80,296 100,638
Other operations and maintenance 53,847 48,989 155,251 150,024
Depreciation and amortization 25,241 21,447 74,971 63,780
Other general taxes 5,605 5,106 16,922 15,573
Total Operating Expenses 116,586 120,703 402,810 414,182
Operating Income 43,942 42,697 122,969 110,504
Other income, net 7,824 4,430 13,985 12,467
Interest expense, net (7,721) (6,662) (23,056) (19,709)
Income before income taxes 44,045 40,465 113,898 103,262
Income tax provision (8,093) (7,664) (20,696) (18,781)
Net Income Including Noncontrolling Interest 35,952 32,801 93,202 84,481
Less Net Income Attributable to Noncontrolling Interest, net of tax (5,487) (5,603) (16,382) (15,947)
Net Income $ 30,465 $ 27,198 $ 76,820 $ 68,534