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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating Revenues:        
Electric revenues $ 116,568,000 $ 120,821,000 $ 303,556,000 $ 315,367,000
Gas revenue 18,643,000 17,377,000 98,568,000 112,547,000
Total Operating Revenues 135,211,000 138,198,000 402,124,000 427,914,000
Operating Expenses:        
Fuel for electric generation 12,945,000 15,901,000 31,343,000 40,221,000
Purchased power 10,708,000 9,126,000 32,050,000 31,013,000
Cost of gas sold 3,812,000 3,092,000 40,950,000 55,220,000
Other operations and maintenance 45,819,000 48,070,000 136,412,000 143,979,000
Depreciation and amortization 18,592,000 18,193,000 55,193,000 53,423,000
Other general taxes 5,010,000 5,078,000 14,892,000 15,026,000
Total Operating Expenses 96,886,000 99,460,000 310,840,000 338,882,000
Operating Income 38,325,000 38,738,000 91,284,000 89,032,000
Other income, net 6,534,000 5,204,000 19,131,000 15,074,000
Interest expense, net (5,765,000) (5,831,000) (17,740,000) (17,227,000)
Income before income taxes 39,094,000 38,111,000 92,675,000 86,879,000
Income tax provision (7,300,000) (7,454,000) (16,053,000) (16,667,000)
Net Income Including Noncontrolling Interest 31,794,000 30,657,000 76,622,000 70,212,000
Net Income $ 31,794,000 $ 30,657,000 $ 76,622,000 $ 70,212,000
Earnings Per Share of Common Stock (basic and diluted) $ 0.88 $ 0.88 $ 2.16 $ 2.03
Dividends per share of common stock $ 0.370 $ 0.353 $ 1.075 $ 1.028
Weighted Average Shares Outstanding (basic and diluted) 36,163 34,668 35,427 34,668
MGE [Member]        
Operating Revenues:        
Electric revenues $ 116,568,000 $ 120,821,000 $ 303,556,000 $ 315,367,000
Gas revenue 18,643,000 17,377,000 98,568,000 112,547,000
Total Operating Revenues 135,211,000 138,198,000 402,124,000 427,914,000
Operating Expenses:        
Fuel for electric generation 12,945,000 15,901,000 31,343,000 40,221,000
Purchased power 10,708,000 9,126,000 32,050,000 31,013,000
Cost of gas sold 3,812,000 3,092,000 40,950,000 55,220,000
Other operations and maintenance 45,591,000 47,947,000 135,634,000 143,282,000
Depreciation and amortization 18,592,000 18,193,000 55,193,000 53,423,000
Other general taxes 5,010,000 5,078,000 14,892,000 15,026,000
Total Operating Expenses 96,658,000 99,337,000 310,062,000 338,185,000
Operating Income 38,553,000 38,861,000 92,062,000 89,729,000
Other income, net 4,093,000 2,672,000 11,005,000 7,837,000
Interest expense, net (5,802,000) (6,095,000) (17,848,000) (18,223,000)
Income before income taxes 36,844,000 35,438,000 85,219,000 79,343,000
Income tax provision (6,611,000) (6,687,000) (14,028,000) (14,579,000)
Net Income Including Noncontrolling Interest 30,233,000 28,751,000 71,191,000 64,764,000
Less Net Income Attributable to Noncontrolling Interest, net of tax (5,493,000) (5,614,000) (16,754,000) (16,725,000)
Net Income $ 24,740,000 $ 23,137,000 $ 54,437,000 $ 48,039,000