Segment Information (Tables)

3 Months Ended

Mar. 31, 2014

The following tables show segment information for MGE Energy's operations for the indicated periods:

(In thousands) MGE Energy		Electric		Gas		Non- Regulated Energy		Transmission Investment		All Others		Consolidation/ Elimination Entries		Consolidated Total
Three Months Ended March 31, 2014
Operating revenues	$	98,852	$	110,713	$	680	$	-	$	-	$	-	$	210,245
Interdepartmental revenues		118		3,624		10,670		-		-		(14,412)		-
Total operating revenues		98,970		114,337		11,350		-		-		(14,412)		210,245
Depreciation and amortization		(6,337)		(1,563)		(1,834)		-		(12)		-		(9,746)
Other operating expenses		(77,901)		(92,843)		(40)		-		(156)		14,412		(156,528)
Operating income (loss)		14,732		19,931		9,476		-		(168)		-		43,971
Other (deductions) income, net		1,827		(35)		-		2,481		279		-		4,552
Interest (expense) income, net		(2,205)		(804)		(1,572)		-		40		-		(4,541)
Income before taxes		14,354		19,092		7,904		2,481		151		-		43,982
Income tax provision		(4,353)		(7,665)		(3,172)		(998)		(77)		-		(16,265)
Net income	$	10,001	$	11,427	$	4,732	$	1,483	$	74	$	-	$	27,717

Three Months Ended March 31, 2013
Operating revenues	$	93,494	$	72,467	$	1,276	$	-	$	-	$	-	$	167,237
Interdepartmental revenues		109		4,876		10,573		-		-		(15,558)		-
Total operating revenues		93,603		77,343		11,849		-		-		(15,558)		167,237
Depreciation and amortization		(6,400)		(1,425)		(1,799)		-		-		-		(9,624)
Other operating expenses		(74,925)		(60,437)		(37)		-		(144)		15,558		(119,985)
Operating income (loss)		12,278		15,481		10,013		-		(144)		-		37,628
Other income, net		575		162		-		2,396		176		-		3,309
Interest (expense) income, net		(2,404)		(678)		(1,613)		-		20		-		(4,675)
Income before taxes		10,449		14,965		8,400		2,396		52		-		36,262
Income tax provision		(3,433)		(5,989)		(3,257)		(971)		(28)		-		(13,678)
Net income	$	7,016	$	8,976	$	5,143	$	1,425	$	24	$	-	$	22,584

(In thousands) MGE		Electric		Gas		Non- Regulated Energy		Transmission Investment		Consolidation/ Elimination Entries		Consolidated Total
Three Months Ended March 31, 2014
Operating revenues	$	98,858	$	110,718	$	680	$	-	$	-	$	210,256
Interdepartmental revenues		112		3,619		10,670		-		(14,401)		-
Total operating revenues		98,970		114,337		11,350		-		(14,401)		210,256
Depreciation and amortization		(6,337)		(1,563)		(1,834)		-		-		(9,734)
Other operating expenses*		(82,046)		(100,450)		(3,212)		-		14,401		(171,307)
Operating income*		10,587		12,324		6,304		-		-		29,215
Other (deductions) income, net*		1,619		(93)		-		1,483		-		3,009
Interest expense, net		(2,205)		(804)		(1,572)		-		-		(4,581)
Net income		10,001		11,427		4,732		1,483		-		27,643
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		-		(6,510)		(6,510)
Net income attributable to MGE	$	10,001	$	11,427	$	4,732	$	1,483	$	(6,510)	$	21,133

Three Months Ended March 31, 2013
Operating revenues	$	93,494	$	72,467	$	1,276	$	-	$	-	$	167,237
Interdepartmental revenues		109		4,876		10,573		-		(15,558)		-
Total operating revenues		93,603		77,343		11,849		-		(15,558)		167,237
Depreciation and amortization		(6,400)		(1,425)		(1,799)		-		-		(9,624)
Other operating expenses*		(78,506)		(66,468)		(3,294)		-		15,558		(132,710)
Operating income*		8,697		9,450		6,756		-		-		24,903
Other income, net*		723		204		-		1,425		-		2,352
Interest expense, net		(2,404)		(678)		(1,613)		-		-		(4,695)
Net income		7,016		8,976		5,143		1,425		-		22,560
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		-		(6,826)		(6,826)
Net income attributable to MGE	$	7,016	$	8,976	$	5,143	$	1,425	$	(6,826)	$	15,734

*Amounts are shown net of the related tax expense, consistent with the presentation on the consolidated MGE Income Statement.

The following table shows segment information for MGE Energy's and MGE's assets and capital expenditures:

		Utility						Consolidated
(In thousands) MGE Energy		Electric		Gas		Assets not Allocated		Nonregulated Energy		Transmission Investment		All Others		Consolidation/ Elimination Entries		Total
Assets:
March 31, 2014	$	905,319	$	268,294	$	40,011	$	312,223	$	65,600	$	432,919	$	(413,943)	$	1,610,423
December 31, 2013		899,257		265,694		19,853		288,116		64,504		431,436		(389,800)		1,579,060
Capital Expenditures:
Three Months Ended March 31, 2014	$	18,906	$	2,384	$	-	$	510	$	-	$	-	$	-	$	21,800
Year ended Dec. 31, 2013		100,146		15,554		-		3,347		-		-		-		119,047

		Utility						Consolidated
(In thousands) MGE		Electric		Gas		Assets not Allocated		Nonregulated Energy		Transmission Investment		Elimination Entries		Total
Assets:
March 31, 2014	$	907,952	$	266,383	$	39,883	$	288,268	$	65,600	$	(12,693)	$	1,555,393
December 31, 2013		899,257		265,694		19,853		288,066		64,504		(6,731)		1,530,643
Capital Expenditures:
Three Months Ended March 31, 2014	$	18,906	$	2,384	$	-	$	510	$	-	$	-	$	21,800
Year ended Dec. 31, 2013		100,146		15,554		-		3,347		-		-		119,047

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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