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MGE Energy Inc Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Operating Revenues:        
Electric revenues $ 99,282 $ 102,382 $ 194,149 $ 200,779
Gas revenues 24,980 24,081 87,745 82,507
Total Operating Revenues 124,262 126,463 281,894 283,286
Operating Expenses:        
Fuel for electric generation 15,251 11,910 27,151 24,109
Purchased power 12,979 16,720 30,012 32,074
Cost of gas sold 9,562 9,231 49,188 45,015
Other operations and maintenance 43,453 44,880 87,846 88,644
Depreciation and amortization 13,872 13,275 27,495 26,234
Other general taxes 4,914 4,852 9,783 9,779
Total Operating Expenses 100,031 100,868 231,475 225,855
Operating Income 24,231 25,595 50,419 57,431
Other income, net 4,731 3,570 [1] 9,650 7,095 [1]
Interest expense, net (4,783) (4,886) (9,522) (9,780)
Income before income taxes 24,179 24,279 50,547 54,746
Income tax provision (5,828) (8,736) (12,195) (19,903)
Net Income $ 18,351 $ 15,543 $ 38,352 $ 34,843
Earnings Per Share of Common Stock (basic and diluted) $ 0.53 $ 0.45 $ 1.11 $ 1.01
Dividends per share of common stock $ 0.323 $ 0.308 $ 0.645 $ 0.615
Weighted Average Shares Outstanding (basic and diluted) 34,668 34,668 34,668 34,668
[1]
Reflects retrospective application of new accounting pronouncement related to pension and other postretirement benefits, see Footnote 2 for further information.