Segment Information (Tables)

6 Months Ended

Jun. 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 June 30, 2019
Operating revenues	$	96,863	$	25,070	$	214	$	-	$	-	$	-	$	122,147
Interdepartmental revenues		198		1,929		9,995		-		-		(12,122)		-
Total operating revenues		97,061		26,999		10,209		-		-		(12,122)		122,147
Depreciation and amortization		(13,379)		(2,843)		(1,869)		-		-		-		(18,091)
Other operating expenses		(73,130)		(22,931)		(33)		-		(301)		12,122		(84,273)
Operating income (loss)		10,552		1,225		8,307		-		(301)		-		19,783
Other income (deductions), net		1,788		1,170		-		2,267		(206)		-		5,019
Interest (expense) income, net		(3,826)		(1,032)		(1,275)		-		384		-		(5,749)
Income (loss) before taxes		8,514		1,363		7,032		2,267		(123)		-		19,053
Income tax (provision) benefit		(638)		(412)		(1,916)		(619)		80		-		(3,505)
Net income (loss)	$	7,876	$	951	$	5,116	$	1,648	$	(43)	$	-	$	15,548
Three Months Ended June 30, 2018
Operating revenues	$	99,067	$	24,980	$	215	$	-	$	-	$	-	$	124,262
Interdepartmental revenues		(245)		3,493		9,847		-		-		(13,095)		-
Total operating revenues		98,822		28,473		10,062		-		-		(13,095)		124,262
Depreciation and amortization		(9,575)		(2,445)		(1,852)		-		-		-		(13,872)
Other operating expenses		(74,535)		(24,232)		(34)		(5)		(448)		13,095		(86,159)
Operating income (loss)		14,712		1,796		8,176		(5)		(448)		-		24,231
Other income, net		1,562		752		-		1,916		501		-		4,731
Interest (expense) income, net		(2,952)		(887)		(1,334)		-		390		-		(4,783)
Income before taxes		13,322		1,661		6,842		1,911		443		-		24,179
Income tax provision		(2,986)		(372)		(1,864)		(522)		(84)		-		(5,828)
Net income	$	10,336	$	1,289	$	4,978	$	1,389	$	359	$	-	$	18,351
Six Months Ended June 30, 2019
Operating revenues	$	194,279	$	95,170	$	267	$	-	$	-	$	-	$	289,716
Interdepartmental revenues		397		6,891		19,968		-		-		(27,256)		-
Total operating revenues		194,676		102,061		20,235		-		-		(27,256)		289,716
Depreciation and amortization		(25,888)		(5,603)		(3,739)		-		-		-		(35,230)
Other operating expenses		(146,424)		(84,369)		(81)		-		(575)		27,256		(204,193)
Operating income (loss)		22,364		12,089		16,415		-		(575)		-		50,293
Other income, net		3,441		1,724		-		4,436		269		-		9,870
Interest (expense) income, net		(7,491)		(2,072)		(2,565)		-		732		-		(11,396)
Income before taxes		18,314		11,741		13,850		4,436		426		-		48,767
Income tax provision		(1,088)		(3,031)		(3,773)		(1,210)		(111)		-		(9,213)
Net income	$	17,226	$	8,710	$	10,077	$	3,226	$	315	$	-	$	39,554
Six Months Ended June 30, 2018
Operating revenues	$	193,458	$	87,745	$	691	$	-	$	-	$	-	$	281,894
Interdepartmental revenues		(214)		7,840		19,667		-		-		(27,293)		-
Total operating revenues		193,244		95,585		20,358		-		-		(27,293)		281,894
Depreciation and amortization		(18,953)		(4,840)		(3,702)		-		-		-		(27,495)
Other operating expenses		(151,110)		(79,427)		(77)		(8)		(651)		27,293		(203,980)
Operating income (loss)		23,181		11,318		16,579		(8)		(651)		-		50,419
Other income, net		3,292		1,518		-		4,288		552		-		9,650
Interest (expense) income, net		(5,819)		(1,726)		(2,682)		-		705		-		(9,522)
Income before taxes		20,654		11,110		13,897		4,280		606		-		50,547
Income tax provision		(4,186)		(2,830)		(3,786)		(1,170)		(223)		-		(12,195)
Net income	$	16,468	$	8,280	$	10,111	$	3,110	$	383	$	-	$	38,352

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 June 30, 2019
Operating revenues	$	96,863	$	25,070	$	214	$	-	$	122,147
Interdepartmental revenues		198		1,929		9,995		(12,122)		-
Total operating revenues		97,061		26,999		10,209		(12,122)		122,147
Depreciation and amortization		(13,379)		(2,843)		(1,869)		-		(18,091)
Other operating expenses		(73,130)		(22,931)		(33)		12,122		(83,972)
Operating income		10,552		1,225		8,307		-		20,084
Other income, net		1,788		1,170		-		-		2,958
Interest expense, net		(3,826)		(1,032)		(1,275)		-		(6,133)
Income before taxes		8,514		1,363		7,032		-		16,909
Income tax provision		(638)		(412)		(1,916)		-		(2,966)
Net income		7,876		951		5,116		-		13,943
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		(5,621)		(5,621)
Net income attributable to MGE	$	7,876	$	951	$	5,116	$	(5,621)	$	8,322
Three Months Ended June 30, 2018
Operating revenues	$	99,067	$	24,980	$	215	$	-	$	124,262
Interdepartmental revenues		(245)		3,493		9,847		(13,095)		-
Total operating revenues		98,822		28,473		10,062		(13,095)		124,262
Depreciation and amortization		(9,575)		(2,445)		(1,852)		-		(13,872)
Other operating expenses		(74,535)		(24,232)		(35)		13,095		(85,707)
Operating income		14,712		1,796		8,175		-		24,683
Other income, net		1,561		753		-		-		2,314
Interest expense, net		(2,952)		(887)		(1,334)		-		(5,173)
Income before taxes		13,321		1,662		6,841		-		21,824
Income tax provision		(2,985)		(373)		(1,863)		-		(5,221)
Net income		10,336		1,289		4,978		-		16,603
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		(5,505)		(5,505)
Net income attributable to MGE	$	10,336	$	1,289	$	4,978	$	(5,505)	$	11,098
Six Months Ended June 30, 2019
Operating revenues	$	194,279	$	95,170	$	267	$	-	$	289,716
Interdepartmental revenues		397		6,891		19,968		(27,256)		-
Total operating revenues		194,676		102,061		20,235		(27,256)		289,716
Depreciation and amortization		(25,888)		(5,603)		(3,739)		-		(35,230)
Other operating expenses		(146,424)		(84,369)		(81)		27,256		(203,618)
Operating income		22,364		12,089		16,415		-		50,868
Other income, net		3,441		1,724		-		-		5,165
Interest expense, net		(7,491)		(2,072)		(2,565)		-		(12,128)
Income before taxes		18,314		11,741		13,850		-		43,905
Income tax provision		(1,088)		(3,031)		(3,773)		-		(7,892)
Net income		17,226		8,710		10,077		-		36,013
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		(11,111)		(11,111)
Net income attributable to MGE	$	17,226	$	8,710	$	10,077	$	(11,111)	$	24,902
Six Months Ended June 30, 2018
Operating revenues	$	193,458	$	87,745	$	691	$	-	$	281,894
Interdepartmental revenues		(214)		7,840		19,667		(27,293)		-
Total operating revenues		193,244		95,585		20,358		(27,293)		281,894
Depreciation and amortization		(18,953)		(4,840)		(3,702)		-		(27,495)
Other operating expenses		(151,110)		(79,427)		(78)		27,293		(203,322)
Operating income		23,181		11,318		16,578		-		51,077
Other income, net		3,292		1,519		-		-		4,811
Interest expense, net		(5,819)		(1,726)		(2,682)		-		(10,227)
Income before taxes		20,654		11,111		13,896		-		45,661
Income tax provision		(4,186)		(2,831)		(3,785)		-		(10,802)
Net income		16,468		8,280		10,111		-		34,859
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		(11,311)		(11,311)
Net income attributable to MGE	$	16,468	$	8,280	$	10,111	$	(11,311)	$	23,548

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:
June 30, 2019	$	1,250,755	$	369,467	$	261,707	$	68,350	$	453,604	$	(377,797)	$	2,026,086
December 31, 2018		1,193,083		377,005		265,301		66,366		465,661		(378,798)		1,988,618
Capital Expenditures:
Six months ended June 30, 2019	$	62,281	$	15,028	$	1,783	$	-	$	-	$	-	$	79,092
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:
June 30, 2019	$	1,250,755	$	369,467	$	261,657	$	(213)	$	1,881,666
December 31, 2018		1,193,083		377,005		265,251		(448)		1,834,891
Capital Expenditures:
Six months ended June 30, 2019	$	62,281	$	15,028	$	1,783	$	-	$	79,092
Year ended Dec. 31, 2018		176,399		30,497		5,301		-		212,197