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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Revenues:      
Electric revenues $ 408,980 $ 402,001 $ 414,274
Gas revenues 159,875 157,767 148,825
Total Operating Revenues 568,855 559,768 563,099
Operating Expenses:      
Fuel for electric generation 51,954 56,141 53,029
Purchased power 41,474 50,807 58,690
Cost of gas sold 79,775 84,968 76,644
Other operations and maintenance 193,322 177,823 177,740
Depreciation and amortization 71,562 56,412 53,077
Other general taxes 19,858 19,410 19,294
Total Operating Expenses 457,945 445,561 438,474
Operating Income (Loss) 110,910 114,207 124,625
Other income, net 18,811 17,055 14,399
Interest expense, net (23,063) (19,609) (19,324)
Income before income taxes 106,658 111,653 119,700
Income tax provision (19,784) (27,434) (22,094) [1]
Net Income Including Noncontrolling Interest 86,874 84,219 97,606
Net Income $ 86,874 $ 84,219 $ 97,606
Earnings Per Share of Common Stock (basic and diluted) $ 2.51 $ 2.43 $ 2.82
Dividends per share of common stock $ 1.38 $ 1.32 $ 1.26
Weighted Average Shares Outstanding (basic and diluted) 34,668 34,668 34,668
MGE [Member]      
Operating Revenues:      
Electric revenues $ 408,980 $ 402,001 $ 414,277
Gas revenues 159,875 157,767 148,834
Total Operating Revenues 568,855 559,768 563,111
Operating Expenses:      
Fuel for electric generation 51,954 56,141 53,031
Purchased power 41,474 50,807 58,692
Cost of gas sold 79,775 84,968 76,652
Other operations and maintenance 192,440 176,762 176,729
Depreciation and amortization 71,562 56,412 53,077
Other general taxes 19,858 19,410 19,294
Total Operating Expenses 457,063 444,500 437,475
Operating Income (Loss) 111,792 115,268 125,636
Other income, net 10,703 10,426 6,450
Interest expense, net (24,298) (21,197) (20,024)
Income before income taxes 98,197 104,497 112,062
Income tax provision (17,418) (25,461) (18,990) [2]
Net Income Including Noncontrolling Interest 80,779 79,036 93,072
Less Net Income Attributable to Noncontrolling Interest, net of tax (22,349) (22,552) (43,237)
Net Income $ 58,430 $ 56,484 $ 49,835
[1] In December 2017, there was a $21.7 million one-time tax impact as a result of the Tax Act.
[2] In December 2017, there was a $21.7 million one-time tax impact as a result of the Tax Act.