Investments (Tables)

12 Months Ended

Dec. 31, 2018

Investments Disclosure [Abstract]

Equity Method, Available for Sale Securities, and Other Investments

		MGE Energy				MGE
(In thousands)		2018		2017		2018		2017
Equity securities(a)	$	9,363	$	7,291	$	388	$	409
Equity method investments:
ATC and ATC Holdco(b)		66,313		59,298		-		-
Other		26		1,128		-		-
Total equity method investments		66,339		60,426		-		-
Other investments		2,298		55		-		-
Total	$	78,000	$	67,772	$	388	$	409

(a)Reflects modified retrospective application of new authoritative guidance related to Financial Instruments as described in Footnote 2. Prior to January 1, 2018, investments were considered available for sale securities. As of December 31, 2017, MGE Energy had available for sale securities with a cost basis of $6.7 million, gross unrealized gains of $0.7 million, and gross unrealized losses of less than $0.1 million. As of December 31, 2017, MGE had available for sale securities with a cost basis of $0.5 million and gross unrealized losses of less than $0.1 million.

(b)In December 2017, there was a $20.4 million one-time tax impact related to ATC as a result of the Tax Act. See Footnote 12 for further information.

During the years endedDecember 31,2018, 2017, and 2016, certain investments were liquidated. As a result of these liquidations, MGE Energy and MGE received the following:

		MGE Energy						MGE
(In thousands)		2018		2017		2016		2018		2017		2016
Cash proceeds	$	960	$	677	$	408	$	3	$	-	$	16
Gain (loss) on sale		476		522		121		3		-		(8)

Equity Method Investments Summarized Financial Data

For the years endedDecember 31,2018, 2017, and 2016, MGE Transco recorded the following:

(In thousands)		2018		2017		2016
Equity earnings from investment in ATC	$	8,821	$	10,125	$	8,670
Dividends received from ATC(a)		4,611		9,078		7,926
Capital contributions to ATC		2,841		3,551		2,486

(a)MGE Transco recorded a $2.3 million and a $2.1 million dividend receivable from ATC as of December 31,2017 and 2016, respectively. A cash dividend was received in January of each of the proceeding years.

ATC's summarized financial data is as follows:

(In thousands)
Income statement data for the year ended December 31,		2018		2017		2016
Operating revenues	$	690,510	$	721,672	$	650,806
Operating expenses		(358,703)		(346,308)		(323,947)
Other income		2,405		7,402		5,361
Interest expense, net		(110,725)		(110,138)		(99,464)
Earnings before members' income taxes	$	223,487	$	272,628	$	232,756

Balance sheet data as of December 31,		2018		2017
Current assets	$	87,250	$	87,730
Noncurrent assets		4,928,793		4,598,919
Total assets	$	5,016,043	$	4,686,649
Current liabilities	$	640,040	$	767,248
Long-term debt		2,013,997		1,790,590
Other noncurrent liabilities		295,281		240,286
Members' equity		2,066,725		1,888,525
Total members' equity and liabilities	$	5,016,043	$	4,686,649