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Madison Gas and Electric Company Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating Revenues:      
Electric revenues $ 402,001 $ 414,274 $ 410,202
Gas revenues 157,767 148,825 134,543
Total Operating Revenues 559,768 563,099 544,745
Operating Expenses:      
Fuel for electric generation 56,141 53,029 60,736
Purchased power 50,807 58,690 56,313
Cost of gas sold 84,968 76,644 66,771
Other operations and maintenance 177,823 177,740 172,335
Depreciation and amortization 56,412 53,077 44,646
Other general taxes 19,410 19,294 20,062
Total Operating Expenses 445,561 438,474 420,863
Operating Income (Loss) 114,207 124,625 123,882
Other Income and Deductions:      
AFUDC - equity funds 2,500    
Equity earnings in MGE Transco 8,821 10,125 8,428
Total Other Income and Deductions 17,055 14,399 [1] 14,057 [1]
Interest Expense:      
Net Interest Expense 19,609 19,324 19,866
Net Income 84,219 97,606 75,560
MGE [Member]      
Operating Revenues:      
Electric revenues 402,001 414,277 410,226
Gas revenues 157,767 148,834 134,572
Total Operating Revenues 559,768 563,111 544,798
Operating Expenses:      
Fuel for electric generation 56,141 53,031 60,745
Purchased power 50,807 58,692 56,327
Cost of gas sold 84,968 76,652 66,800
Other operations and maintenance 176,762 176,729 171,423
Depreciation and amortization 56,412 53,077 44,622
Other general taxes 19,410 19,294 20,062
Income tax provision 25,098 18,280 39,616
Total Operating Expenses 469,598 455,755 459,595
Operating Income (Loss) [2] 90,170 107,356 85,203
Other Income and Deductions:      
AFUDC - equity funds 3,284 1,222 1,207
Equity earnings in MGE Transco 0 0 6,366
Income tax provision (363) (710) (2,175)
Other income (deductions), net 7,142 5,228 4,129
Total Other Income and Deductions [2] 10,063 5,740 [1] 9,527 [1]
Income before interest expense 100,233 113,096 94,730
Interest Expense:      
Interest on long-term debt 21,967 20,273 20,351
Other interest, net 338 163 182
AFUDC - borrowed funds (1,108) (412) (395)
Net Interest Expense 21,197 20,024 20,138
Net Income Including Noncontrolling Interest 79,036 93,072 74,592
Less Net Income Attributable to Noncontrolling Interest, net of tax (22,552) (43,237) (23,358)
Net Income $ 56,484 $ 49,835 $ 51,234
[1]
Reflects retrospective application of new accounting pronouncement related to pension and other postretirement benefits. See Footnote 2 for further information.
[2]
Amounts are shown net of the related tax expense, consistent with the presentation on the MGE Consolidated Statements of Income.