XML 130 R69.htm IDEA: XBRL DOCUMENT v2.4.0.8
Long-Term Debt (Details) (USD $)
 12 Months Ended 0 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 0 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
First Mortgage Bonds [Member]
7.70%, 2028 Series
Dec. 31, 2012
First Mortgage Bonds [Member]
7.70%, 2028 Series
Dec. 31, 2013
Tax Exempt Debt [Member]
3.45%, 2027 Series, Industrial Development Revenue Bonds
Dec. 31, 2012
Tax Exempt Debt [Member]
3.45%, 2027 Series, Industrial Development Revenue Bonds
Dec. 31, 2013
Medium-Term Notes [Member]
Dec. 31, 2012
Medium-Term Notes [Member]
Jul. 18, 2013
Medium-Term Notes [Member]
5.26%, due 2017
Dec. 31, 2013
Medium-Term Notes [Member]
5.26%, due 2017
Dec. 31, 2012
Medium-Term Notes [Member]
5.26%, due 2017
Dec. 31, 2013
Medium-Term Notes [Member]
5.25%, due 2017
Dec. 31, 2012
Medium-Term Notes [Member]
5.25%, due 2017
Dec. 31, 2013
Medium-Term Notes [Member]
6.12%, due 2028
Dec. 31, 2012
Medium-Term Notes [Member]
6.12%, due 2028
Dec. 31, 2013
Medium-Term Notes [Member]
7.12%, due 2032
Dec. 31, 2012
Medium-Term Notes [Member]
7.12%, due 2032
Dec. 31, 2013
Medium-Term Notes [Member]
6.247%, due 2037
Dec. 31, 2012
Medium-Term Notes [Member]
6.247%, due 2037
Dec. 31, 2013
Other Long-Term Debt [Member]
Dec. 31, 2012
Other Long-Term Debt [Member]
Jul. 18, 2013
Other Long-Term Debt [Member]
5.59%, due 2018
Dec. 31, 2013
Other Long-Term Debt [Member]
5.59%, due 2018
Dec. 31, 2012
Other Long-Term Debt [Member]
5.59%, due 2018
Dec. 31, 2013
Other Long-Term Debt [Member]
5.59%, due 2018
Minimum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
5.59%, due 2018
Maximum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
3.38%, due 2020
Dec. 31, 2012
Other Long-Term Debt [Member]
3.38%, due 2020
Dec. 31, 2013
Other Long-Term Debt [Member]
3.38%, due 2020
Minimum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
3.38%, due 2020
Maximum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
3.09%, due 2023
Dec. 31, 2012
Other Long-Term Debt [Member]
3.09%, due 2023
Dec. 31, 2013
Other Long-Term Debt [Member]
3.09%, due 2023
Minimum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
3.09%, due 2023
Maximum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
3.29%, due 2026
Dec. 31, 2012
Other Long-Term Debt [Member]
3.29%, due 2026
Dec. 31, 2013
Other Long-Term Debt [Member]
3.29%, due 2026
Minimum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
3.29%, due 2026
Maximum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
5.68%, due 2033
Dec. 31, 2012
Other Long-Term Debt [Member]
5.68%, due 2033
Dec. 31, 2013
Other Long-Term Debt [Member]
5.19%, due 2033
Dec. 31, 2012
Other Long-Term Debt [Member]
5.19%, due 2033
Dec. 31, 2013
Other Long-Term Debt [Member]
5.26%, due 2040
Dec. 31, 2012
Other Long-Term Debt [Member]
5.26%, due 2040
Dec. 31, 2013
Other Long-Term Debt [Member]
5.26%, due 2040
Minimum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
5.26%, due 2040
Maximum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
5.04%, due 2040
Dec. 31, 2012
Other Long-Term Debt [Member]
5.04%, due 2040
Dec. 31, 2013
Other Long-Term Debt [Member]
4.74%, due 2041
Dec. 31, 2012
Other Long-Term Debt [Member]
4.74%, due 2041
Dec. 31, 2013
Other Long-Term Debt [Member]
4.38%, due 2042
Dec. 31, 2012
Other Long-Term Debt [Member]
4.38%, due 2042
Dec. 31, 2013
Other Long-Term Debt [Member]
4.38%, due 2042
Minimum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
4.38%, due 2042
Maximum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
4.42%, due 2043
Dec. 31, 2012
Other Long-Term Debt [Member]
4.42%, due 2043
Dec. 31, 2013
Other Long-Term Debt [Member]
4.42%, due 2043
Minimum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
4.42%, due 2043
Maximum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
4.47%, due 2048
Dec. 31, 2012
Other Long-Term Debt [Member]
4.47%, due 2048
Dec. 31, 2013
Other Long-Term Debt [Member]
4.47%, due 2048
Minimum [Member]
Dec. 31, 2013
Other Long-Term Debt [Member]
4.47%, due 2048
Maximum [Member]
Dec. 31, 2013
MGE [Member]
Dec. 31, 2012
MGE [Member]
Dec. 31, 2011
MGE [Member]
Dec. 31, 2013
MGE [Member]
First Mortgage Bonds [Member]
7.70%, 2028 Series
Dec. 31, 2012
MGE [Member]
First Mortgage Bonds [Member]
7.70%, 2028 Series
Dec. 31, 2013
MGE [Member]
Tax Exempt Debt [Member]
3.45%, 2027 Series, Industrial Development Revenue Bonds
Dec. 31, 2012
MGE [Member]
Tax Exempt Debt [Member]
3.45%, 2027 Series, Industrial Development Revenue Bonds
Dec. 31, 2013
MGE [Member]
Medium-Term Notes [Member]
Dec. 31, 2012
MGE [Member]
Medium-Term Notes [Member]
Jul. 18, 2013
MGE [Member]
Medium-Term Notes [Member]
5.26%, due 2017
Dec. 31, 2013
MGE [Member]
Medium-Term Notes [Member]
5.26%, due 2017
Dec. 31, 2012
MGE [Member]
Medium-Term Notes [Member]
5.26%, due 2017
Dec. 31, 2013
MGE [Member]
Medium-Term Notes [Member]
5.25%, due 2017
Dec. 31, 2012
MGE [Member]
Medium-Term Notes [Member]
5.25%, due 2017
Dec. 31, 2013
MGE [Member]
Medium-Term Notes [Member]
6.12%, due 2028
Dec. 31, 2012
MGE [Member]
Medium-Term Notes [Member]
6.12%, due 2028
Dec. 31, 2013
MGE [Member]
Medium-Term Notes [Member]
7.12%, due 2032
Dec. 31, 2012
MGE [Member]
Medium-Term Notes [Member]
7.12%, due 2032
Dec. 31, 2013
MGE [Member]
Medium-Term Notes [Member]
6.247%, due 2037
Dec. 31, 2012
MGE [Member]
Medium-Term Notes [Member]
6.247%, due 2037
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
Jul. 18, 2013
MGE [Member]
Other Long-Term Debt [Member]
5.59%, due 2018
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
5.59%, due 2018
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
5.59%, due 2018
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
5.59%, due 2018
Minimum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
5.59%, due 2018
Maximum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
3.38%, due 2020
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
3.38%, due 2020
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
3.38%, due 2020
Minimum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
3.38%, due 2020
Maximum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
3.09%, due 2023
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
3.09%, due 2023
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
3.09%, due 2023
Minimum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
3.09%, due 2023
Maximum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
3.29%, due 2026
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
3.29%, due 2026
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
3.29%, due 2026
Minimum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
3.29%, due 2026
Maximum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
5.68%, due 2033
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
5.68%, due 2033
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
5.19%, due 2033
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
5.19%, due 2033
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
5.26%, due 2040
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
5.26%, due 2040
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
5.26%, due 2040
Minimum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
5.26%, due 2040
Maximum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
5.04%, due 2040
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
5.04%, due 2040
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
4.74%, due 2041
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
4.74%, due 2041
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
4.38%, due 2042
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
4.38%, due 2042
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
4.38%, due 2042
Minimum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
4.38%, due 2042
Maximum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
4.42%, due 2043
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
4.42%, due 2043
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
4.42%, due 2043
Minimum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
4.42%, due 2043
Maximum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
4.47%, due 2048
Dec. 31, 2012
MGE [Member]
Other Long-Term Debt [Member]
4.47%, due 2048
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
4.47%, due 2048
Minimum [Member]
Dec. 31, 2013
MGE [Member]
Other Long-Term Debt [Member]
4.47%, due 2048
Maximum [Member]
Dec. 31, 2013
MGE Power Elm Road [Member]
Dec. 31, 2012
MGE Power Elm Road [Member]
Dec. 31, 2013
MGE Power Elm Road [Member]
Minimum [Member]
Dec. 31, 2013
MGE Power Elm Road [Member]
Other Long-Term Debt [Member]
5.04%, due 2040
Minimum [Member]
Dec. 31, 2013
MGE Power Elm Road [Member]
Other Long-Term Debt [Member]
4.74%, due 2041
Minimum [Member]
Dec. 31, 2013
MGE Power West Campus [Member]
Dec. 31, 2012
MGE Power West Campus [Member]
Dec. 31, 2013
MGE Power West Campus [Member]
Minimum [Member]
Dec. 31, 2013
MGE Power West Campus [Member]
Maximum [Member]
Dec. 31, 2013
MGE Power West Campus [Member]
Other Long-Term Debt [Member]
5.68%, due 2033
Minimum [Member]
Dec. 31, 2013
MGE Power West Campus [Member]
Other Long-Term Debt [Member]
5.68%, due 2033
Maximum [Member]
Dec. 31, 2013
MGE Power West Campus [Member]
Other Long-Term Debt [Member]
5.19%, due 2033
Minimum [Member]
Dec. 31, 2013
MGE Power West Campus [Member]
Other Long-Term Debt [Member]
5.19%, due 2033
Maximum [Member]
Debt Instrument [Line Items]                                                                                                                                                                                                                                                                                      
Long-term debt, gross       $ 1,200,000 [1] $ 1,200,000 [1] $ 19,300,000 $ 19,300,000 $ 100,000,000 [2] $ 120,000,000 [2]   $ 0 [2],[3] $ 20,000,000 [2],[3] $ 30,000,000 [2] $ 30,000,000 [2] $ 20,000,000 [2] $ 20,000,000 [2] $ 25,000,000 [2] $ 25,000,000 [2] $ 25,000,000 [2] $ 25,000,000 [2] $ 283,293,000 [4] $ 221,305,000 [4]   $ 20,000,000 [3],[4],[5] $ 40,000,000 [3],[4],[5]     $ 15,000,000 [4],[5] $ 15,000,000 [4],[5]     $ 30,000,000 [3],[4],[5] $ 0 [3],[4],[5]     $ 15,000,000 [3],[4],[5] $ 0 [3],[4],[5]     $ 29,797,000 [4],[6] $ 30,000,000 [4],[6] $ 19,857,000 [4],[6] $ 20,000,000 [4],[6] $ 15,000,000 [4],[5] $ 15,000,000 [4],[5]     $ 43,472,000 [4],[7] $ 45,138,000 [4],[7] $ 27,167,000 [4],[7] $ 28,167,000 [4],[7] $ 28,000,000 [4],[5] $ 28,000,000 [4],[5]     $ 20,000,000 [3],[4],[5] $ 0 [3],[4],[5]     $ 20,000,000 [3],[4],[5] $ 0 [3],[4],[5]           $ 1,200,000 [1] $ 1,200,000 [1] $ 19,300,000 $ 19,300,000 $ 100,000,000 [2] $ 120,000,000 [2]   $ 0 [2],[3] $ 20,000,000 [2],[3] $ 30,000,000 [2] $ 30,000,000 [2] $ 20,000,000 [2] $ 20,000,000 [2] $ 25,000,000 [2] $ 25,000,000 [2] $ 25,000,000 [2] $ 25,000,000 [2] $ 283,293,000 [4] $ 221,305,000 [4]   $ 20,000,000 [3],[4],[5] $ 40,000,000 [3],[4],[5]     $ 15,000,000 [4],[5] $ 15,000,000 [4],[5]     $ 30,000,000 [3],[4],[5] $ 0 [3],[4],[5]     $ 15,000,000 [3],[4],[5] $ 0 [3],[4],[5]     $ 29,797,000 [4],[6] $ 30,000,000 [4],[6] $ 19,857,000 [4],[6] $ 20,000,000 [4],[6] $ 15,000,000 [4],[5] $ 15,000,000 [4],[5]     $ 43,472,000 [4],[7] $ 45,138,000 [4],[7] $ 27,167,000 [4],[7] $ 28,167,000 [4],[7] $ 28,000,000 [4],[5] $ 28,000,000 [4],[5]     $ 20,000,000 [3],[4],[5] $ 0 [3],[4],[5]     $ 20,000,000 [3],[4],[5] $ 0 [3],[4],[5]     $ 70,639,000 $ 73,306,000       $ 49,653,000 $ 50,000,000            
Long-term debt due within one year (4,102,000) (3,013,000)                                                                                                                           (4,102,000) (3,013,000)                                                                                                                                                    
Unamortized discount (277,000) (301,000)                                                                                                                           (277,000) (301,000)                                                                                                                                                    
Total Long-Term Debt 399,414,000 358,491,000                                                                                                                           399,414,000 358,491,000                                                                                                                                                    
Interest rate       7.70% 7.70% 3.45% 3.45%       5.26% 5.26% 5.25% 5.25% 6.12% 6.12% 7.12% 7.12% 6.247% 6.247%       5.59% 5.59%     3.38% 3.38%     3.09% 0.00%     3.29% 0.00%     5.68% 5.68% 5.19% 5.19% 5.26% 5.26%     5.04% 5.04% 4.74% 4.74% 4.38% 4.38%     4.42% 0.00%     4.47% 0.00%           7.70% 7.70% 3.45% 3.45%       5.26% 5.26% 5.25% 5.25% 6.12% 6.12% 7.12% 7.12% 6.247% 6.247%       5.59% 5.59%     3.38% 3.38%     3.09% 0.00%     3.29% 0.00%     5.68% 5.68% 5.19% 5.19% 5.26% 5.26%     5.04% 5.04% 4.74% 4.74% 4.38% 4.38%     4.42% 0.00%     4.47% 0.00%                              
Debt covenant, allowable amount available for payment of dividends       305,600,000                                                                                                                             305,600,000                                                                                                                                                
Redemption of debt, amount                   20,000,000                         20,000,000                                                                                                   20,000,000                         20,000,000                                                                                                          
Debt make-whole premium 6,757,000 0 0             3,200,000                         3,600,000                                                                                 6,757,000 0 0             3,200,000                         3,600,000                                                                                                          
Debt covenant, ownership interest by outside party resulting in repurchase of notes at par value                                                   30.00%       30.00%       30.00%       30.00%               30.00%               30.00%       30.00%       30.00%                                                     30.00%       30.00%       30.00%       30.00%               30.00%               30.00%       30.00%       30.00%                            
Debt to total capitalization ratio                                                     0.65       0.65       0.65       0.65               0.65               0.65       0.65       0.65                                                     0.65       0.65       0.65       0.65               0.65               0.65       0.65       0.65                 0.65   0.65   0.65
Priority debt to assets ratio                                                   0.20       0.20       0.20       0.20               0.20               0.20       0.20       0.20                                                     0.20       0.20       0.20       0.20               0.20               0.20       0.20       0.20                            
Debt service coverage ratio                                                                                                                                                                                                                                                                 1.25 1.25 1.25     1.25   1.25   1.25  
Long-Term Debt Maturities [Abstract]                                                                                                                                                                                                                                                                                      
Long term debt maturities in 2014 4,102,000                                                                                                                             4,102,000 [8]                                                                                                                                                      
Long term debt maturities in 2015 4,182,000                                                                                                                             4,182,000 [8]                                                                                                                                                      
Long term debt maturities in 2016 4,268,000                                                                                                                             4,268,000 [8]                                                                                                                                                      
Long term debt maturities in 2017 34,358,000                                                                                                                             34,358,000 [8]                                                                                                                                                      
Long term debt maturities in 2018 24,452,000                                                                                                                             24,452,000 [8]                                                                                                                                                      
Long term debt maturities in future years 332,431,000                                                                                                                             332,431,000 [8]                                                                                                                                                      
Total $ 403,793,000                                                                                                                             $ 403,793,000 [8]                                                                                                                                                      
[1] MGE's utility plant is subject to the lien of its Indenture of Mortgage and Deed of Trust, under which its first mortgage bonds are issued. The Mortgage Indenture provides that dividends or any other distribution or purchase of shares may not be made if the aggregate amount thereof since December 31, 1945 would exceed the earned surplus (retained earnings) accumulated subsequent to December 31, 1945. As of December 31, 2013, approximately $305.6 million was available for the payment of dividends under this covenant.
[2] The indenture under which MGE's Medium-Term notes are issued provides that those notes will be entitled to be equally and ratably secured in the event that MGE issues any additional first mortgage bonds.
[3] On July 18, 2013, MGE issued $20 million in principal amount of 4.42% senior notes, Series A, due July 15, 2043 and $20 million in principal amount of 4.47% senior notes, Series B, due July 15, 2048. MGE used the net proceeds from the sale of the Notes to redeem on July 18, 2013, $20 million of its 5.26% Medium-Term Notes due September 29, 2017, and to make a $20 million partial redemption of its 5.59% Senior Notes due September 11, 2018. MGE paid a redemption price equal to the principal amount of the notes that were redeemed, plus accrued interest to the redemption date, plus a make-whole premium equal to $3.2 million and $3.6 million, for the 5.26% Medium-Term Notes due September 29, 2017 and 5.59% Senior Notes due September 11, 2018, respectively. The make-whole premiums are treated as a regulatory asset and will be amortized over the life of the Series A and Series B Notes. Any interest savings in 2013 will be deferred. There is $20 million principal amount of the 5.59% Senior Notes remaining outstanding after the redemption. The Note Purchase Agreement under which the Series A and Series B Notes were issued also included the issuance on September 16, 2013, of $30 million in principal amount of 3.09% Senior Notes, Series C, due September 15, 2023 and $15 million of 3.29% Senior Notes, Series D, due September 15, 2026. The Series C Notes and the Series D Notes carry interest rates of 3.09% per annum and 3.29% per annum, respectively. The proceeds of the Notes were used and are expected to continue to be used to help finance the Columbia environmental project.
[4] Unsecured notes issued pursuant to various Note Purchase Agreements with one or more purchasers. The notes are not issued under, or governed by, MGE’s Indenture dated as of September 1, 1998, which governs MGE’s Medium-Term Notes.
[5] Issued by MGE. Under that Note Purchase Agreement: (i) note holders have the right to require MGE to repurchase their notes at par in the event of an acquisition of beneficial ownership of 30% or more of the outstanding voting stock of MGE Energy, (ii) MGE must maintain a ratio of its consolidated indebtedness to consolidated total capitalization not to exceed a maximum of 65%, and (iii) MGE cannot issue "Priority Debt" in an amount exceeding 20% of its consolidated assets. Priority Debt is defined as any indebtedness of MGE secured by liens other than specified liens permitted by the Note Purchase Agreement and certain unsecured indebtedness of certain subsidiaries. As of December 31, 2013, MGE is in compliance with the covenant requirements.
[6] Issued by MGE Power West Campus. The Note Purchase Agreements require it to maintain a projected debt service coverage ratio of not less than 1.25 to 1.00, and debt to total capitalization ratio of not more than .65 to 1.00. The notes are secured by a collateral assignment of lease payments that MGE is making to MGE Power West Campus for use of its ownership interest in the West Campus Cogeneration Facility pursuant to a long-term lease. As of December 31, 2013, MGE Power West Campus is in compliance with the covenant requirements.
[7] Issued by MGE Power Elm Road. The Note Purchase Agreement requires MGE Power Elm Road to maintain a projected and actual debt service coverage ratio at the end of any calendar quarter of not less than 1.25 to 1.00 for the trailing 12-month period. The notes are secured by a collateral assignment of lease payments that MGE is making to MGE Power Elm Road for use of its ownership interest in the Elm Road Units pursuant to long-term leases. As of December 31, 2013, MGE Power Elm Road is in compliance with the covenant requirements.
[8] Includes $29.8 million and $19.9 million for MGE Power West Campus, and $43.5 million and $27.2 million for MGE Power Elm Road, all of which are consolidated with MGE's debt (see Footnote 2 for further information).