v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities:    
Net Income $ 48,481 $ 41,592
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 28,089 27,678
Deferred income taxes 2,497 1,344
Provision for doubtful receivables 1,756 2,200
Employee benefit plan credit (2,369) (1,181)
Cash contributions to pension and other postretirement plans (1,874) (1,914)
Equity earnings in investments (3,541) (3,181)
Dividends from investments 2,719 3,287
Changes in assets and liabilities    
Current assets 20,917 16,039
Accounts payable (16,661) (16,485)
Deferred income taxes 364 0
Other current liabilities (2,285) 337
Regulatory assets and liabilities, net 5,805 6,675
Other, net (3,205) 1,471
Cash Provided by Operating Activities 80,693 77,862
Investing Activities:    
Capital expenditures (101,140) (47,653)
Capital contributions to investments (4,822) (2,540)
Other 503 (399)
Cash Used for Investing Activities (105,459) (50,592)
Financing Activities:    
Issuance of common stock, net 14,014 3,279
Cash dividends paid on common stock (17,368) (16,428)
Repayments of long-term debt (2,544) (1,308)
Issuance of long-term debt 90,000 0
Proceeds from short-term debt (54,277) 0
Other (1,310) (650)
Cash Provided by (Used for) Financing Activities 28,515 (15,107)
Change in cash, cash equivalents, and restricted cash 3,749 12,163
Cash, cash equivalents, and restricted cash at beginning of period 8,736 24,496
Cash, cash equivalents, and restricted cash at end of period 12,485 36,659
MGE [Member]    
Operating Activities:    
Net Income 45,713 39,803
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 28,089 27,678
Deferred income taxes 1,979 982
Provision for doubtful receivables 1,756 2,200
Employee benefit plan credit (2,369) (1,181)
Cash contributions to pension and other postretirement plans (1,874) (1,914)
Changes in assets and liabilities    
Current assets 19,421 16,065
Accounts payable (17,023) (16,498)
Deferred income taxes 364 0
Other current liabilities 570 (253)
Regulatory assets and liabilities, net 5,805 6,675
Other, net (3,256) 397
Cash Provided by Operating Activities 79,175 73,954
Investing Activities:    
Capital expenditures (101,140) (47,653)
Other (1,286) (396)
Cash Used for Investing Activities (102,426) (48,049)
Financing Activities:    
Cash dividends paid to parent by MGE (18,000) (13,500)
Distributions to parent from noncontrolling interest (4,250) (4,000)
Capital contributions from parent 16,750 0
Repayments of long-term debt (2,544) (1,308)
Issuance of long-term debt 90,000 0
Proceeds from short-term debt (54,277) 0
Other (1,311) (650)
Cash Provided by (Used for) Financing Activities 26,368 (19,458)
Change in cash, cash equivalents, and restricted cash 3,117 6,447
Cash, cash equivalents, and restricted cash at beginning of period 5,318 20,059
Cash, cash equivalents, and restricted cash at end of period $ 8,435 $ 26,506