Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments Disclosure [Abstract]

Equity Method and Other Investments

a.Equity Securities, Equity Method Investments, and Other Investments.

	MGE Energy				MGE
(In thousands)	2023		2022		2023		2022
Equity securities	$	24,027	$	22,960	$	60	$	115
Equity method investments:
ATC and ATC Holdco		86,459		80,586		—		—
Other		39		39		—		—
Total equity method investments		86,498		80,625		—		—
Other investments		2,298		2,298		—		—
Total	$	112,823	$	105,883	$	60	$	115

For the years ended December 31, 2023, 2022, and 2021, there were no liquidated investments for MGE. For the years ended December 31, 2023, 2022, and 2021, certain investments were liquidated for MGE Energy. As a result of these liquidations, the following was received:

(In thousands)	2023			2022		2021
Cash proceeds	$	995		$	924	$	1,684
Gain (loss) on sale		(899	)		1,382		1,543

Equity Method Investments Summarized Financial Data

For the years ended December 31, MGE Transco recorded the following:

(In thousands)	2023		2022		2021
Equity earnings from investment in ATC	$	10,515	$	9,025	$	9,774
Dividends received from ATC		8,397		7,090		7,832
Capital contributions to ATC		3,750		2,678		—

ATC's summarized financial data is as follows:

(In thousands)
Income statement data for the year ended December 31,	2023			2022			2021
Operating revenues	$	818,921		$	751,158		$	754,838
Operating expenses		(407,643	)		(381,528	)		(376,153	)
Other income		2,452			1,171			1,144
Interest expense, net		(134,107	)		(124,091	)		(115,089	)
Earnings before members' income taxes	$	279,623		$	246,710		$	264,740
Balance sheet data as of December 31,	2023			2022
Current assets	$	115,236		$	89,606
Noncurrent assets		6,336,954			5,997,780
Total assets	$	6,452,190		$	6,087,386
Current liabilities	$	495,919		$	511,945
Long-term debt		2,735,985			2,612,980
Other noncurrent liabilities		585,173			485,795
Members' equity		2,635,113			2,476,666
Total members' equity and liabilities	$	6,452,190		$	6,087,386