XML 22 R4.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities:      
Net Income $ 117,699 $ 110,952 $ 105,761
Items not affecting cash:      
Depreciation and amortization 100,352 85,549 76,983
Deferred income taxes 22,999 23,435 4,837
Provision for doubtful receivables 1,764 1,764 1,550
Employee benefit plan (credit) cost (5,796) (8,142) (2,203)
Equity earnings in investments (10,631) (9,136) (9,270)
Other items (388) (1,535) 120
Changes in working capital items:      
Accounts receivable and unbilled revenues 11,174 (16,726) (24,651)
Inventories (850) (22,226) (6,342)
Prepaid taxes (3,178) 1,082 (5,035)
Other current assets 5,028 (3,729) (192)
Accounts payable (5,208) 5,102 2,729
Other current liabilities (2,264) (5,562) (6,734)
Dividends from investments 8,508 7,090 7,832
Cash contributions to pension and other postretirement plans (7,747) (7,308) (6,935)
Other noncurrent items, net 6,099 (6,875) (923)
Cash Provided by Operating Activities 237,561 153,735 137,527
Investing Activities:      
Capital expenditures (222,071) (175,030) (153,169)
Capital contributions to investments (6,995) (5,185) (4,027)
Other (954) 70 221
Cash Used for Investing Activities (230,020) (180,145) (156,975)
Financing Activities:      
Cash dividends paid on common stock (60,393) (57,500) (54,788)
Repayment of long-term debt (54,314) (4,889) (4,771)
Issuance of long-term debt 139,300 25,000 100,000
(Repayments of) proceeds from short-term debt (32,500) 65,000 (47,000)
Other (2,576) (2,068) (2,197)
Cash (Used for) Provided by Financing Activities (10,483) 25,543 (8,756)
Change in cash, cash equivalents, and restricted cash: (2,942) (867) (28,204)
Cash, cash equivalents, and restricted cash at beginning of period 17,968 18,835 47,039
Cash, cash equivalents, and restricted cash at end of period 15,026 17,968 18,835
Supplemential Disclosures of Cash Flow Information:      
Interest paid 29,526 25,957 23,502
Income taxes paid, net 9,800 3,166 4,000
Significant noncash investing activities:      
Accrued capital expenditures 17,247 5,970 14,414
MGE [Member]      
Operating Activities:      
Net Income 112,370 105,492 100,782
Items not affecting cash:      
Depreciation and amortization 100,352 85,549 76,983
Deferred income taxes 21,536 22,767 3,654
Provision for doubtful receivables 1,764 1,764 1,550
Employee benefit plan (credit) cost (5,796) (8,142) (2,203)
Other items (241) 672 2,002
Changes in working capital items:      
Accounts receivable and unbilled revenues 11,130 (16,697) (24,680)
Inventories (850) (22,226) (6,342)
Prepaid taxes (3,871) 912 (4,531)
Other current assets 5,032 (3,774) (148)
Accounts payable (5,209) 5,104 2,775
Accrued interest and taxes 1,413 (2,737) 244
Other current liabilities (3,272) (2,541) (11,107)
Cash contributions to pension and other postretirement plans (7,747) (7,308) (6,935)
Other noncurrent items, net 5,211 (7,768) (1,804)
Cash Provided by Operating Activities 231,822 151,067 130,240
Investing Activities:      
Capital expenditures (222,071) (175,030) (153,169)
Other (1,956) (1,065) (1,709)
Cash Used for Investing Activities (224,027) (176,095) (154,878)
Financing Activities:      
Cash dividends paid to parent by MGE (41,000) (33,500) (5,000)
Distributions to parent from noncontrolling interest (20,500) (22,000) (15,000)
Repayment of long-term debt (54,314) (4,889) (4,771)
Issuance of long-term debt 139,300 25,000 100,000
(Repayments of) proceeds from short-term debt (32,500) 65,000 (47,000)
Other (2,576) (1,881) (2,197)
Cash (Used for) Provided by Financing Activities (11,590) 27,730 26,032
Change in cash, cash equivalents, and restricted cash: (3,795) 2,702 1,394
Cash, cash equivalents, and restricted cash at beginning of period 10,500 7,798 6,404
Cash, cash equivalents, and restricted cash at end of period 6,705 10,500 7,798
Supplemential Disclosures of Cash Flow Information:      
Interest paid 29,526 25,957 23,502
Significant noncash investing activities:      
Accrued capital expenditures $ 17,247 $ 5,970 $ 14,414