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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating Revenues:        
Electric revenues $ 120,597 $ 121,707 $ 236,764 $ 238,998
Gas revenue 25,116 26,291 100,285 126,253
Total Operating Revenues 145,713 147,998 337,049 365,251
Operating Expenses:        
Fuel for electric generation 11,237 13,599 23,941 27,406
Purchased power 8,850 5,845 18,292 21,231
Cost of gas sold 6,293 7,289 48,170 75,136
Other operations and maintenance 56,730 52,049 110,704 102,007
Depreciation and amortization 26,932 25,119 53,532 49,730
Other general taxes 5,936 5,707 11,930 11,317
Total Operating Expenses 115,978 109,608 266,569 286,827
Operating Income 29,735 38,390 70,480 78,424
Other income, net 3,856 4,937 7,737 10,292
Interest expense, net (8,325) (7,760) (16,329) (15,247)
Income before income taxes 25,266 35,567 61,888 73,469
Income tax provision (1,472) (6,886) (4,280) (13,710)
Net Income Including Noncontrolling Interest 23,794 28,681 57,608 59,759
Net Income $ 23,794 $ 28,681 $ 57,608 $ 59,759
Earnings per share of Common Stock - Basic $ 0.66 $ 0.79 $ 1.59 $ 1.65
Earnings per share of Common Stock - Diluted 0.66 0.79 1.59 1.65
Dividends per share of common stock $ 0.428 $ 0.408 $ 0.855 $ 0.815
Weighted Average Shares Outstanding - Basic 36,176 36,163 36,173 36,163
Weighted Average Shares Outstanding - Diluted 36,197 36,186 36,196 36,183
MGE [Member]        
Operating Revenues:        
Electric revenues $ 120,597 $ 121,707 $ 236,764 $ 238,998
Gas revenue 25,116 26,291 100,285 126,253
Total Operating Revenues 145,713 147,998 337,049 365,251
Operating Expenses:        
Fuel for electric generation 11,237 13,599 23,941 27,406
Purchased power 8,850 5,845 18,292 21,231
Cost of gas sold 6,293 7,289 48,170 75,136
Other operations and maintenance 56,601 51,835 110,161 101,404
Depreciation and amortization 26,932 25,119 53,532 49,730
Other general taxes 5,936 5,707 11,930 11,317
Total Operating Expenses 115,849 109,394 266,026 286,224
Operating Income 29,864 38,604 71,023 79,027
Other income, net 1,134 3,254 2,242 6,161
Interest expense, net (8,433) (7,815) (16,509) (15,335)
Income before income taxes 22,565 34,043 56,756 69,853
Income tax provision (811) (6,436) (2,802) (12,603)
Net Income Including Noncontrolling Interest 21,754 27,607 53,954 57,250
Less Net Income Attributable to Noncontrolling Interest, net of tax (5,766) (5,375) (11,363) (10,895)
Net Income $ 15,988 $ 22,232 $ 42,591 $ 46,355