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Investments
 12 Months Ended
Dec. 31, 2014
Investments Disclosure [Abstract]  
Investments

Investments - MGE Energy and MGE.

a. Equity Method Investments, Available for Sale Securities, and Other Investments.

MGE EnergyMGE
(In thousands)2014201320142013
Available for sale securities:
Cost basis$1,964 $1,736 $489 $490
Gross unrealized gains765 629 240 321
Fair value$2,729 $2,365 $729 $811
Equity method investments:
ATC$67,673 $64,488 $67,673 $64,488
Other1,199 1,099 --
Total equity method investments$68,872 $65,587 $67,673 $64,488
Other investments159 ---
Total$71,760 $67,952 $68,402 $65,299

MGE Energy's and MGE's available for sale securities represent publicly traded securities and private equity investments in common stock of companies in various industries.

During the years ended December 31, 2014 and 2013, certain investments were liquidated. As a result of these liquidations, MGE Energy and MGE received the following:

MGE EnergyMGE
(In thousands)201420132012201420132012
Cash proceeds$38 $39 $-$-$16 $-
Gain (loss) on sale21 2 --(3)-

b. ATC.

ATC owns and operates electric transmission facilities primarily in Wisconsin. MGE received an interest in ATC when it, like other Wisconsin electric utilities, contributed its electric transmission facilities to ATC as required by Wisconsin law. That interest is presently held by MGE Transco, which is jointly owned by MGE Energy and MGE.

MGE Transco has accounted for its investment in ATC under the equity method of accounting. For the years ended December 31, 2014, 2013, and 2012, MGE Transco recorded the following:

(In thousands)201420132012
Equity in earnings from investment in ATC$9,150 $9,434 $9,079
Dividends received from ATC7,740 7,404 7,146
Capital contributions to ATC1,775 1,420 2,131

On January 30, 2015, MGE Transco made a $0.2 million capital contribution to ATC.

At December 31, 2014 and 2013, MGE Transco held a 3.6% ownership interest in ATC. MGE Transco's investment balance is different from the amount of the underlying equity in the net assets of ATC. This difference is attributable to the allocation of certain tax impacts related to the initial asset transfer.

At December 31, 2014 and 2013, MGE is the majority owner, and MGE Energy, the holding company, is the minority owner of MGE Transco. MGE Energy's proportionate share of the equity and net income of MGE Transco is classified within the MGE financial statements as noncontrolling interest.

ATC's summarized financial data for the years ended December 31, 2014, 2013, and 2012 is as follows:

(In thousands)
Income statement data for the year ended December 31,201420132012
Operating revenues$635,033 $626,336 $603,254
Operating expenses(307,451)(295,069)(280,999)
Other income (expense)117 831 (2,533)
Interest expense, net(88,970)(84,484)(82,296)
Earnings before members' income taxes$238,729 $247,614 $237,426
Balance sheet data as of December 31,201420132012
Current assets$66,410 $80,715 $63,134
Noncurrent assets3,728,675 3,509,517 3,274,704
Total assets$3,795,085 $3,590,232 $3,337,838
Current liabilities$313,065 $381,467 $251,541
Long-term debt1,701,000 1,550,000 1,550,000
Other noncurrent liabilities163,818 126,167 95,829
Members' equity1,617,202 1,532,598 1,440,468
Total members' equity and liabilities$3,795,085 $3,590,232 $3,337,838