Segment Information

3 Months Ended

Mar. 31, 2019

Segment Information - MGE Energy and MGE.

MGE Energy operates in the following business segments: electric utility, gas utility, nonregulated energy, transmission investment, and all other. See the 2018 Annual Report on Form 10-K for additional discussion of each of these segments.

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

(In thousands)MGE Energy		Electric		Gas		Nonregulated Energy		Transmission Investment		All Others		Consolidation/ Elimination Entries		Consolidated Total
Three Months Ended March 31, 2019
Operating revenues	$	97,416	$	70,100	$	53	$	-	$	-	$	-	$	167,569
Interdepartmental revenues		199		4,962		9,973		-		-		(15,134)		-
Total operating revenues		97,615		75,062		10,026		-		-		(15,134)		167,569
Depreciation and amortization		(12,509)		(2,760)		(1,870)		-		-		-		(17,139)
Other operating expenses		(73,294)		(61,438)		(48)		-		(272)		15,134		(119,918)
Operating income (loss)		11,812		10,864		8,108		-		(272)		-		30,512
Other income, net		1,653		554		-		2,168		476		-		4,851
Interest (expense) income, net		(3,665)		(1,040)		(1,290)		-		348		-		(5,647)
Income before taxes		9,800		10,378		6,818		2,168		552		-		29,716
Income tax provision		(451)		(2,618)		(1,857)		(591)		(192)		-		(5,709)
Net income	$	9,349	$	7,760	$	4,961	$	1,577	$	360	$	-	$	24,007

Three Months Ended March 31, 2018
Operating revenues	$	94,391	$	62,765	$	476	$	-	$	-	$	-	$	157,632
Interdepartmental revenues		31		4,347		9,820		-		-		(14,198)		-
Total operating revenues		94,422		67,112		10,296		-		-		(14,198)		157,632
Depreciation and amortization		(9,378)		(2,395)		(1,850)		-		-		-		(13,623)
Other operating expenses		(76,575)		(55,195)		(43)		(3)		(203)		14,198		(117,821)
Operating income (loss)		8,469		9,522		8,403		(3)		(203)		-		26,188
Other income, net		1,730		766		-		2,372		51		-		4,919
Interest (expense) income, net		(2,867)		(839)		(1,348)		-		315		-		(4,739)
Income before taxes		7,332		9,449		7,055		2,369		163		-		26,368
Income tax provision		(1,200)		(2,458)		(1,922)		(648)		(139)		-		(6,367)
Net income	$	6,132	$	6,991	$	5,133	$	1,721	$	24	$	-	$	20,001

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

(In thousands)MGE		Electric		Gas		Nonregulated Energy		Consolidation/ Elimination Entries		Consolidated Total
Three Months Ended March 31, 2019
Operating revenues	$	97,416	$	70,100	$	53	$	-	$	167,569
Interdepartmental revenues		199		4,962		9,973		(15,134)		-
Total operating revenues		97,615		75,062		10,026		(15,134)		167,569
Depreciation and amortization		(12,509)		(2,760)		(1,870)		-		(17,139)
Other operating expenses		(73,294)		(61,438)		(48)		15,134		(119,646)
Operating income		11,812		10,864		8,108		-		30,784
Other income, net		1,653		554		-		-		2,207
Interest expense, net		(3,665)		(1,040)		(1,290)		-		(5,995)
Income before taxes		9,800		10,378		6,818		-		26,996
Income tax provision		(451)		(2,618)		(1,857)		-		(4,926)
Net income		9,349		7,760		4,961		-		22,070
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		(5,490)		(5,490)
Net income attributable to MGE	$	9,349	$	7,760	$	4,961	$	(5,490)	$	16,580

Three Months Ended March 31, 2018
Operating revenues	$	94,391	$	62,765	$	476	$	-	$	157,632
Interdepartmental revenues		31		4,347		9,820		(14,198)		-
Total operating revenues		94,422		67,112		10,296		(14,198)		157,632
Depreciation and amortization		(9,378)		(2,395)		(1,850)		-		(13,623)
Other operating expenses		(76,575)		(55,195)		(43)		14,198		(117,615)
Operating income		8,469		9,522		8,403		-		26,394
Other income, net		1,731		766		-		-		2,497
Interest expense, net		(2,867)		(839)		(1,348)		-		(5,054)
Income before taxes		7,333		9,449		7,055		-		23,837
Income tax provision		(1,201)		(2,458)		(1,922)		-		(5,581)
Net income		6,132		6,991		5,133		-		18,256
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		(5,806)		(5,806)
Net income attributable to MGE	$	6,132	$	6,991	$	5,133	$	(5,806)	$	12,450

The following table shows segment information for assets and capital expenditures:

		Utility				Consolidated
(In thousands)MGE Energy		Electric		Gas		Nonregulated Energy		Transmission Investment		All Others		Consolidation/ Elimination Entries		Total
Assets:
March 31, 2019	$	1,223,815	$	368,043	$	262,979	$	66,720	$	461,159	$	(379,150)	$	2,003,566
December 31, 2018		1,193,083		377,005		265,301		66,366		465,661		(378,798)		1,988,618
Capital Expenditures:
Three months ended March 31, 2019	$	24,095	$	7,145	$	693	$	-	$	-	$	-	$	31,933
Year ended Dec. 31, 2018		176,399		30,497		5,301		-		-		-		212,197

		Utility				Consolidated
(In thousands)MGE		Electric		Gas		Nonregulated Energy		Elimination Entries		Total
Assets:
March 31, 2019	$	1,223,815	$	368,043	$	262,929	$	(990)	$	1,853,797
December 31, 2018		1,193,083		377,005		265,251		(448)		1,834,891
Capital Expenditures:
Three months ended March 31, 2019	$	24,095	$	7,145	$	693	$	-	$	31,933
Year ended Dec. 31, 2018		176,399		30,497		5,301		-		212,197