Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

The following table shows segment information for MGE Energy's and MGE's operations:

(In thousands) MGE Energy	Electric			Gas			Non-Regulated Energy			Transmission Investment			All Others			Consolidation/ Elimination Entries			Consolidated Total
Year Ended December 31, 2023
Operating revenues	$	489,729		$	200,012		$	690		$	—		$	—		$	—		$	690,431
Interdepartmental revenues		922			15,501			41,586			—			—			(58,009	)		—
Total operating revenues		490,651			215,513			42,276			—			—			(58,009	)		690,431
Depreciation and amortization		(77,440	)		(15,531	)		(7,381	)		—			—			—			(100,352	)
Operating income (loss)		90,991			21,663			34,729			—			(998	)		—			146,385
Interest (expense) income, net		(20,609	)		(6,038	)		(4,004	)		2			220			—			(30,429	)
Income tax (provision) benefit		(10,182	)		(7,175	)		(8,370	)		(2,897	)		821			—			(27,803	)
Equity in earnings of investments		—			—			—			10,631			—			—			10,631
Net income (loss)		75,946			14,068			22,356			7,736			(2,407	)		—			117,699
Year Ended December 31, 2022
Operating revenues	$	465,167		$	248,672		$	680		$	—		$	—		$	—		$	714,519
Interdepartmental revenues		(44	)		34,073			41,555			—			—			(75,584	)		—
Total operating revenues		465,123			282,745			42,235			—			—			(75,584	)		714,519
Depreciation and amortization		(62,897	)		(15,261	)		(7,391	)		—			—			—			(85,549	)
Operating income (loss)		77,672			26,261			34,683			—			(873	)		—			137,743
Interest (expense) income, net		(17,578	)		(4,787	)		(4,322	)		—			40			—			(26,647	)
Income tax (provision) benefit		(7,299	)		(8,492	)		(8,272	)		(2,490	)		329			—			(26,224	)
Equity in earnings of investments		—			—			—			9,136			—			—			9,136
Net income (loss)		65,187			18,215			22,090			6,647			(1,187	)		—			110,952
Year Ended December 31, 2021
Operating revenues	$	420,286		$	185,620		$	678		$	—		$	—		$	—		$	606,584
Interdepartmental revenues		556			22,728			40,866			—			—			(64,150	)		—
Total operating revenues		420,842			208,348			41,544			—			—			(64,150	)		606,584
Depreciation and amortization		(56,672	)		(12,852	)		(7,459	)		—			—			—			(76,983	)
Operating income (loss)		58,993			25,133			33,936			—			(768	)		—			117,294
Interest (expense) income, net		(15,261	)		(4,315	)		(4,577	)		—			41			—			(24,112	)
Income tax (provision) benefit		10,672			(4,922	)		(7,998	)		(2,486	)		619			—			(4,115	)
Equity in earnings of investments		—			—			—			9,339			(69	)		—			9,270
Net income (loss)		63,910			15,511			21,361			6,852			(1,873	)		—			105,761

(In thousands) MGE	Electric			Gas			Non-Regulated Energy			Consolidation/ Elimination Entries			Consolidated Total
Year Ended December 31, 2023
Operating revenues	$	489,729		$	200,012		$	690		$	—		$	690,431
Interdepartmental revenues		922			15,501			41,586			(58,009	)		—
Total operating revenues		490,651			215,513			42,276			(58,009	)		690,431
Depreciation and amortization		(77,440	)		(15,531	)		(7,381	)		—			(100,352	)
Operating income		90,991			21,663			34,729			—			147,383
Interest expense, net		(20,609	)		(6,038	)		(4,004	)		—			(30,651	)
Income tax provision		(10,182	)		(7,175	)		(8,370	)		—			(25,727	)
Net income attributable to MGE		75,946			14,068			22,356			(21,868	)		90,502
Year Ended December 31, 2022
Operating revenues	$	465,167		$	248,672		$	680		$	—		$	714,519
Interdepartmental revenues		(44	)		34,073			41,555			(75,584	)		—
Total operating revenues		465,123			282,745			42,235			(75,584	)		714,519
Depreciation and amortization		(62,897	)		(15,261	)		(7,391	)		—			(85,549	)
Operating income		77,672			26,261			34,683			—			138,616
Interest expense, net		(17,578	)		(4,787	)		(4,322	)		—			(26,687	)
Income tax provision		(7,299	)		(8,492	)		(8,272	)		—			(24,063	)
Net income attributable to MGE		65,187			18,215			22,090			(21,576	)		83,916
Year Ended December 31, 2021
Operating revenues	$	420,286		$	185,620		$	678		$	—		$	606,584
Interdepartmental revenues		556			22,728			40,866			(64,150	)		—
Total operating revenues		420,842			208,348			41,544			(64,150	)		606,584
Depreciation and amortization		(56,672	)		(12,852	)		(7,459	)		—			(76,983	)
Operating income		58,993			25,133			33,936			—			118,062
Interest expense, net		(15,261	)		(4,315	)		(4,577	)		—			(24,153	)
Income tax benefit (provision)		10,672			(4,922	)		(7,998	)		—			(2,248	)
Net income attributable to MGE		63,910			15,511			21,361			(22,391	)		78,391

The following table shows segment information for MGE Energy's and MGE's assets and capital expenditures:

	Utility				Consolidated
(In thousands) MGE Energy	Electric		Gas		Non-regulated Energy		Transmission Investment(a)		All Others		Consolidation/ Elimination Entries			Total
Assets:
December 31, 2023	$	1,777,903	$	533,876	$	245,232	$	86,516	$	469,392	$	(437,461	)	$	2,675,458
December 31, 2022		1,626,373		530,733		247,841		80,642		467,112		(435,101	)		2,517,600
December 31, 2021		1,525,163		485,345		252,584		75,990		467,954		(435,130	)		2,371,906
Capital Expenditures:
Year ended Dec. 31, 2023	$	180,743	$	36,402	$	4,926	$	—	$	—	$	—		$	222,071
Year ended Dec. 31, 2022		141,273		27,656		6,101		—		—		—			175,030
Year ended Dec. 31, 2021		115,234		34,071		3,864		—		—		—			153,169

	Utility				Consolidated
(In thousands) MGE	Electric		Gas		Non-regulated Energy		Consolidation/ Elimination Entries			Total
Assets:
December 31, 2023	$	1,777,903	$	533,876	$	245,181	$	(1,992	)	$	2,554,968
December 31, 2022		1,626,373		530,733		247,791		(258	)		2,404,639
December 31, 2021		1,525,163		485,345		252,534		(267	)		2,262,775
Capital Expenditures:
Year ended Dec. 31, 2023	$	180,743	$	36,402	$	4,926	$	—		$	222,071
Year ended Dec. 31, 2022		141,273		27,656		6,101		—			175,030
Year ended Dec. 31, 2021		115,234		34,071		3,864		—			153,169

(a)The Transmission Investment segment represents MGE Energy's investment in equity method investees.