Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment Information

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

(In thousands) MGE Energy		Electric		Gas		Non-regulated Energy		Transmission Investment		All Others		Consolidation/ Elimination Entries		Consolidated Total
Three Months Ended September 30, 2019
Operating revenues	$	120,607	$	17,377	$	214	$	-	$	-	$	-	$	138,198
Interdepartmental revenues		225		5,679		10,019		-		-		(15,923)		-
Total operating revenues		120,832		23,056		10,233		-		-		(15,923)		138,198
Depreciation and amortization		(13,441)		(2,879)		(1,873)		-		-		-		(18,193)
Other operating expenses		(76,817)		(20,217)		(33)		-		(123)		15,923		(81,267)
Operating income (loss)		30,574		(40)		8,327		-		(123)		-		38,738
Other income, net		1,817		855		-		2,372		160		-		5,204
Interest (expense) income, net		(3,762)		(1,059)		(1,274)		-		264		-		(5,831)
Income (loss) before taxes		28,629		(244)		7,053		2,372		301		-		38,111
Income tax (provision) benefit		(4,948)		183		(1,922)		(646)		(121)		-		(7,454)
Net income (loss)	$	23,681	$	(61)	$	5,131	$	1,726	$	180	$	-	$	30,657
Three Months Ended September 30, 2018
Operating revenues	$	119,175	$	18,407	$	213	$	-	$	-	$	-	$	137,795
Interdepartmental revenues		(20)		4,219		9,912		-		-		(14,111)		-
Total operating revenues		119,155		22,626		10,125		-		-		(14,111)		137,795
Depreciation and amortization		(9,864)		(2,534)		(1,861)		-		-		-		(14,259)
Other operating expenses		(77,847)		(19,824)		(36)		(4)		(138)		14,111		(83,738)
Operating income (loss)		31,444		268		8,228		(4)		(138)		-		39,798
Other income, net		1,763		829		-		1,620		118		-		4,330
Interest (expense) income, net		(3,217)		(963)		(1,320)		-		475		-		(5,025)
Income before taxes		29,990		134		6,908		1,616		455		-		39,103
Income tax (provision) benefit		(7,306)		42		(1,852)		(441)		(40)		-		(9,597)
Net income	$	22,684	$	176	$	5,056	$	1,175	$	415	$	-	$	29,506
Nine Months Ended September 30, 2019
Operating revenues	$	314,886	$	112,547	$	481	$	-	$	-	$	-	$	427,914
Interdepartmental revenues		622		12,571		29,987		-		-		(43,180)		-
Total operating revenues		315,508		125,118		30,468		-		-		(43,180)		427,914
Depreciation and amortization		(39,330)		(8,482)		(5,611)		-		-		-		(53,423)
Other operating expenses		(223,242)		(104,587)		(113)		-		(697)		43,180		(285,459)
Operating income (loss)		52,936		12,049		24,744		-		(697)		-		89,032
Other income, net		5,258		2,579		-		6,808		429		-		15,074
Interest (expense) income, net		(11,253)		(3,132)		(3,838)		-		996		-		(17,227)
Income before taxes		46,941		11,496		20,906		6,808		728		-		86,879
Income tax provision		(6,036)		(2,848)		(5,695)		(1,856)		(232)		-		(16,667)
Net income	$	40,905	$	8,648	$	15,211	$	4,952	$	496	$	-	$	70,212
Nine Months Ended September 30, 2018
Operating revenues	$	312,633	$	106,152	$	904	$	-	$	-	$	-	$	419,689
Interdepartmental revenues		(234)		12,059		29,579		-		-		(41,404)		-
Total operating revenues		312,399		118,211		30,483		-		-		(41,404)		419,689
Depreciation and amortization		(28,817)		(7,374)		(5,563)		-		-		-		(41,754)
Other operating expenses		(228,957)		(99,251)		(113)		(12)		(789)		41,404		(287,718)
Operating income (loss)		54,625		11,586		24,807		(12)		(789)		-		90,217
Other income, net		5,055		2,347		-		5,908		670		-		13,980
Interest (expense) income, net		(9,036)		(2,689)		(4,002)		-		1,180		-		(14,547)
Income before taxes		50,644		11,244		20,805		5,896		1,061		-		89,650
Income tax provision		(11,492)		(2,788)		(5,638)		(1,611)		(263)		-		(21,792)
Net income	$	39,152	$	8,456	$	15,167	$	4,285	$	798	$	-	$	67,858

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

(In thousands) MGE		Electric		Gas		Non-regulated Energy		Consolidation/ Elimination Entries		Consolidated Total
Three Months Ended September 30, 2019
Operating revenues	$	120,607	$	17,377	$	214	$	-	$	138,198
Interdepartmental revenues		225		5,679		10,019		(15,923)		-
Total operating revenues		120,832		23,056		10,233		(15,923)		138,198
Depreciation and amortization		(13,441)		(2,879)		(1,873)		-		(18,193)
Other operating expenses		(76,817)		(20,217)		(33)		15,923		(81,144)
Operating income (loss)		30,574		(40)		8,327		-		38,861
Other income, net		1,817		855		-		-		2,672
Interest expense, net		(3,762)		(1,059)		(1,274)		-		(6,095)
Income (loss) before taxes		28,629		(244)		7,053		-		35,438
Income tax (provision) benefit		(4,948)		183		(1,922)		-		(6,687)
Net income (loss)		23,681		(61)		5,131		-		28,751
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		(5,614)		(5,614)
Net income (loss) attributable to MGE	$	23,681	$	(61)	$	5,131	$	(5,614)	$	23,137
Three Months Ended September 30, 2018
Operating revenues	$	119,175	$	18,407	$	213	$	-	$	137,795
Interdepartmental revenues		(20)		4,219		9,912		(14,111)		-
Total operating revenues		119,155		22,626		10,125		(14,111)		137,795
Depreciation and amortization		(9,864)		(2,534)		(1,861)		-		(14,259)
Other operating expenses		(77,847)		(19,824)		(35)		14,111		(83,595)
Operating income		31,444		268		8,229		-		39,941
Other income, net		1,763		829		-		-		2,592
Interest expense, net		(3,217)		(963)		(1,320)		-		(5,500)
Income before taxes		29,990		134		6,909		-		37,033
Income tax provision		(7,306)		42		(1,853)		-		(9,117)
Net income		22,684		176		5,056		-		27,916
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		(5,629)		(5,629)
Net income attributable to MGE	$	22,684	$	176	$	5,056	$	(5,629)	$	22,287
Nine Months Ended September 30, 2019
Operating revenues	$	314,886	$	112,547	$	481	$	-	$	427,914
Interdepartmental revenues		622		12,571		29,987		(43,180)		-
Total operating revenues		315,508		125,118		30,468		(43,180)		427,914
Depreciation and amortization		(39,330)		(8,482)		(5,611)		-		(53,423)
Other operating expenses		(223,242)		(104,587)		(113)		43,180		(284,762)
Operating income		52,936		12,049		24,744		-		89,729
Other income, net		5,258		2,579		-		-		7,837
Interest expense, net		(11,253)		(3,132)		(3,838)		-		(18,223)
Income before taxes		46,941		11,496		20,906		-		79,343
Income tax provision		(6,036)		(2,848)		(5,695)		-		(14,579)
Net income		40,905		8,648		15,211		-		64,764
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		(16,725)		(16,725)
Net income attributable to MGE	$	40,905	$	8,648	$	15,211	$	(16,725)	$	48,039
Nine Months Ended September 30, 2018
Operating revenues	$	312,633	$	106,152	$	904	$	-	$	419,689
Interdepartmental revenues		(234)		12,059		29,579		(41,404)		-
Total operating revenues		312,399		118,211		30,483		(41,404)		419,689
Depreciation and amortization		(28,817)		(7,374)		(5,563)		-		(41,754)
Other operating expenses		(228,957)		(99,251)		(113)		41,404		(286,917)
Operating income		54,625		11,586		24,807		-		91,018
Other income, net		5,055		2,347		-		-		7,402
Interest expense, net		(9,036)		(2,689)		(4,002)		-		(15,727)
Income before taxes		50,644		11,244		20,805		-		82,693
Income tax provision		(11,492)		(2,788)		(5,638)		-		(19,918)
Net income		39,152		8,456		15,167		-		62,775
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		(16,940)		(16,940)
Net income attributable to MGE	$	39,152	$	8,456	$	15,167	$	(16,940)	$	45,835

The following table shows segment information for assets and capital expenditures:
		Utility				Consolidated
(In thousands) MGE Energy		Electric		Gas		Non-regulated Energy		Transmission Investment		All Others		Consolidation/ Elimination Entries		Total
Assets:
September 30, 2019	$	1,288,752	$	379,160	$	259,542	$	69,829	$	447,307	$	(377,617)	$	2,066,973
December 31, 2018		1,193,083		377,005		265,301		66,366		465,661		(378,798)		1,988,618
Capital Expenditures:
Nine months ended September 30, 2019	$	101,609	$	24,551	$	2,229	$	-	$	-	$	-	$	128,389
Year ended Dec. 31, 2018		176,399		30,497		5,301		-		-		-		212,197

		Utility				Consolidated
(In thousands) MGE		Electric		Gas		Non-regulated Energy		Elimination Entries		Total
Assets:
September 30, 2019	$	1,288,752	$	379,160	$	259,492	$	(377)	$	1,927,027
December 31, 2018		1,193,083		377,005		265,251		(448)		1,834,891
Capital Expenditures:
Nine months ended September 30, 2019	$	101,609	$	24,551	$	2,229	$	-	$	128,389
Year ended Dec. 31, 2018		176,399		30,497		5,301		-		212,197