| Segment Information |
The following tables show segment information for MGE Energy's and MGE's operations:
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(In thousands)
MGE Energy |
|
Electric |
|
|
Gas |
|
|
Non-Regulated Energy |
|
|
Transmission Investment |
|
|
Total Reportable Segments |
|
|
All Others |
|
|
Consolidation/
Elimination |
|
|
Consolidated Total |
|
Three Months Ended March 31, 2026 |
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating revenues |
|
$ |
131,380 |
|
|
$ |
111,263 |
|
|
$ |
60 |
|
|
$ |
— |
|
|
$ |
242,703 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
242,703 |
|
Interdepartmental revenues |
|
|
(8 |
) |
|
|
9,014 |
|
|
|
11,418 |
|
|
|
— |
|
|
|
20,424 |
|
|
|
— |
|
|
|
(20,424 |
) |
|
|
— |
|
Total operating revenues |
|
|
131,372 |
|
|
|
120,277 |
|
|
|
11,478 |
|
|
|
— |
|
|
|
263,127 |
|
|
|
— |
|
|
|
(20,424 |
) |
|
|
242,703 |
|
Fuel and purchased power |
|
|
(24,073 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(24,073 |
) |
|
|
— |
|
|
|
1,297 |
|
|
|
(22,776 |
) |
Purchased gas costs |
|
|
— |
|
|
|
(78,554 |
) |
|
|
— |
|
|
|
— |
|
|
|
(78,554 |
) |
|
|
— |
|
|
|
7,731 |
|
|
|
(70,823 |
) |
Depreciation and amortization |
|
|
(21,254 |
) |
|
|
(4,865 |
) |
|
|
(1,970 |
) |
|
|
— |
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|
|
(28,089 |
) |
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|
— |
|
|
|
— |
|
|
|
(28,089 |
) |
Interest expense |
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|
(8,079 |
) |
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|
(2,223 |
) |
|
|
(836 |
) |
|
|
— |
|
|
|
(11,138 |
) |
|
|
— |
|
|
|
— |
|
|
|
(11,138 |
) |
Other segment items(a) |
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|
(55,274 |
) |
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|
(15,605 |
) |
|
|
(51 |
) |
|
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— |
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|
|
(70,930 |
) |
|
|
453 |
|
|
|
11,396 |
|
|
|
(59,081 |
) |
Income tax benefit (provision) |
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|
2,981 |
|
|
|
(5,263 |
) |
|
|
(2,348 |
) |
|
|
(965 |
) |
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(5,595 |
) |
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|
(261 |
) |
|
|
— |
|
|
|
(5,856 |
) |
Equity in earnings of investments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,541 |
|
|
|
3,541 |
|
|
|
— |
|
|
|
— |
|
|
|
3,541 |
|
Net income |
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|
25,673 |
|
|
|
13,767 |
|
|
|
6,273 |
|
|
|
2,576 |
|
|
|
48,289 |
|
|
|
192 |
|
|
|
— |
|
|
|
48,481 |
|
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|
Three Months Ended March 31, 2025 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating revenues |
|
$ |
125,454 |
|
|
$ |
93,481 |
|
|
$ |
35 |
|
|
$ |
— |
|
|
$ |
218,970 |
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|
$ |
— |
|
|
$ |
— |
|
|
$ |
218,970 |
|
Interdepartmental revenues |
|
|
(48 |
) |
|
|
6,472 |
|
|
|
11,104 |
|
|
|
— |
|
|
|
17,528 |
|
|
|
— |
|
|
|
(17,528 |
) |
|
|
— |
|
Total operating revenues |
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|
125,406 |
|
|
|
99,953 |
|
|
|
11,139 |
|
|
|
— |
|
|
|
236,498 |
|
|
|
— |
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|
|
(17,528 |
) |
|
|
218,970 |
|
Fuel and purchased power |
|
|
(23,106 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(23,106 |
) |
|
|
— |
|
|
|
1,159 |
|
|
|
(21,947 |
) |
Purchased gas costs |
|
|
— |
|
|
|
(59,290 |
) |
|
|
— |
|
|
|
— |
|
|
|
(59,290 |
) |
|
|
— |
|
|
|
5,326 |
|
|
|
(53,964 |
) |
Depreciation and amortization |
|
|
(21,535 |
) |
|
|
(4,232 |
) |
|
|
(1,911 |
) |
|
|
— |
|
|
|
(27,678 |
) |
|
|
— |
|
|
|
— |
|
|
|
(27,678 |
) |
Interest expense |
|
|
(6,493 |
) |
|
|
(1,763 |
) |
|
|
(906 |
) |
|
|
— |
|
|
|
(9,162 |
) |
|
|
— |
|
|
|
— |
|
|
|
(9,162 |
) |
Other segment items(a) |
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|
(55,979 |
) |
|
|
(16,096 |
) |
|
|
(44 |
) |
|
|
— |
|
|
|
(72,119 |
) |
|
|
(436 |
) |
|
|
11,043 |
|
|
|
(61,512 |
) |
Income tax benefit (provision) |
|
|
1,902 |
|
|
|
(4,987 |
) |
|
|
(2,255 |
) |
|
|
(867 |
) |
|
|
(6,207 |
) |
|
|
(89 |
) |
|
|
— |
|
|
|
(6,296 |
) |
Equity in earnings of investments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,181 |
|
|
|
3,181 |
|
|
|
— |
|
|
|
— |
|
|
|
3,181 |
|
Net income (loss) |
|
|
20,195 |
|
|
|
13,585 |
|
|
|
6,023 |
|
|
|
2,314 |
|
|
|
42,117 |
|
|
|
(525 |
) |
|
|
— |
|
|
|
41,592 |
|
(a)Other segment items include AFUDC Income, Other Income, Net, Other Operations and Maintenance, Other General Taxes, and Interest Revenue.
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|
(In thousands)
MGE |
|
Electric |
|
|
Gas |
|
|
Non-Regulated Energy |
|
|
Total Reportable Segments |
|
|
Consolidation/
Elimination |
|
|
Consolidated Total |
|
Three Months Ended March 31, 2026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating revenues |
|
$ |
131,380 |
|
|
$ |
111,263 |
|
|
$ |
60 |
|
|
$ |
242,703 |
|
|
$ |
— |
|
|
$ |
242,703 |
|
Interdepartmental revenues |
|
|
(8 |
) |
|
|
9,014 |
|
|
|
11,418 |
|
|
|
20,424 |
|
|
|
(20,424 |
) |
|
|
— |
|
Total operating revenues |
|
|
131,372 |
|
|
|
120,277 |
|
|
|
11,478 |
|
|
|
263,127 |
|
|
|
(20,424 |
) |
|
|
242,703 |
|
Fuel and purchased power |
|
|
(24,073 |
) |
|
|
— |
|
|
|
— |
|
|
|
(24,073 |
) |
|
|
1,297 |
|
|
|
(22,776 |
) |
Purchased gas costs |
|
|
— |
|
|
|
(78,554 |
) |
|
|
— |
|
|
|
(78,554 |
) |
|
|
7,731 |
|
|
|
(70,823 |
) |
Depreciation and amortization |
|
|
(21,254 |
) |
|
|
(4,865 |
) |
|
|
(1,970 |
) |
|
|
(28,089 |
) |
|
|
— |
|
|
|
(28,089 |
) |
Interest expense |
|
|
(8,079 |
) |
|
|
(2,223 |
) |
|
|
(836 |
) |
|
|
(11,138 |
) |
|
|
— |
|
|
|
(11,138 |
) |
Other segment items(b) |
|
|
(55,274 |
) |
|
|
(15,605 |
) |
|
|
(51 |
) |
|
|
(70,930 |
) |
|
|
11,396 |
|
|
|
(59,534 |
) |
Income tax benefit (provision) |
|
|
2,981 |
|
|
|
(5,263 |
) |
|
|
(2,348 |
) |
|
|
(4,630 |
) |
|
|
— |
|
|
|
(4,630 |
) |
Net income attributable to noncontrolling interest, net of tax |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(5,606 |
) |
|
|
(5,606 |
) |
Net income attributable to MGE |
|
|
25,673 |
|
|
|
13,767 |
|
|
|
6,273 |
|
|
|
45,713 |
|
|
|
(5,606 |
) |
|
|
40,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating revenues |
|
$ |
125,454 |
|
|
$ |
93,481 |
|
|
$ |
35 |
|
|
$ |
218,970 |
|
|
$ |
— |
|
|
$ |
218,970 |
|
Interdepartmental revenues |
|
|
(48 |
) |
|
|
6,472 |
|
|
|
11,104 |
|
|
|
17,528 |
|
|
|
(17,528 |
) |
|
|
— |
|
Total operating revenues |
|
|
125,406 |
|
|
|
99,953 |
|
|
|
11,139 |
|
|
|
236,498 |
|
|
|
(17,528 |
) |
|
|
218,970 |
|
Fuel and purchased power |
|
|
(23,106 |
) |
|
|
— |
|
|
|
— |
|
|
|
(23,106 |
) |
|
|
1,159 |
|
|
|
(21,947 |
) |
Purchased gas costs |
|
|
— |
|
|
|
(59,290 |
) |
|
|
— |
|
|
|
(59,290 |
) |
|
|
5,326 |
|
|
|
(53,964 |
) |
Depreciation and amortization |
|
|
(21,535 |
) |
|
|
(4,232 |
) |
|
|
(1,911 |
) |
|
|
(27,678 |
) |
|
|
— |
|
|
|
(27,678 |
) |
Interest expense |
|
|
(6,493 |
) |
|
|
(1,763 |
) |
|
|
(906 |
) |
|
|
(9,162 |
) |
|
|
— |
|
|
|
(9,162 |
) |
Other segment items(b) |
|
|
(55,979 |
) |
|
|
(16,096 |
) |
|
|
(44 |
) |
|
|
(72,119 |
) |
|
|
11,043 |
|
|
|
(61,076 |
) |
Income tax benefit (provision) |
|
|
1,902 |
|
|
|
(4,987 |
) |
|
|
(2,255 |
) |
|
|
(5,340 |
) |
|
|
— |
|
|
|
(5,340 |
) |
Net income attributable to noncontrolling interest, net of tax |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(5,599 |
) |
|
|
(5,599 |
) |
Net income attributable to MGE |
|
|
20,195 |
|
|
|
13,585 |
|
|
|
6,023 |
|
|
|
39,803 |
|
|
|
(5,599 |
) |
|
|
34,204 |
|
(b)Other segment items include AFUDC Income, Other Income, Net, Other Operations and Maintenance, Other General Taxes, and Interest Revenue. The following tables show segment information for MGE Energy's and MGE's capital expenditures:
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utility |
|
|
Consolidated |
|
(In thousands)
MGE Energy |
|
Electric |
|
|
Gas |
|
|
Non-regulated Energy |
|
|
Transmission Investment |
|
|
All Others |
|
|
Consolidation/ Elimination Entries |
|
|
Total |
|
Three Months Ended March 31, 2026 |
|
$ |
84,901 |
|
|
$ |
12,191 |
|
|
$ |
4,048 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
101,140 |
|
Three Months Ended March 31, 2025 |
|
|
31,322 |
|
|
|
14,017 |
|
|
|
2,314 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
47,653 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utility |
|
|
Consolidated |
|
(In thousands)
MGE |
|
Electric |
|
|
Gas |
|
|
Non-regulated Energy |
|
|
Consolidation/ Elimination Entries |
|
|
Total |
|
Three Months Ended March 31, 2026 |
|
$ |
84,901 |
|
|
$ |
12,191 |
|
|
$ |
4,048 |
|
|
$ |
— |
|
|
$ |
101,140 |
|
Three Months Ended March 31, 2025 |
|
|
31,322 |
|
|
|
14,017 |
|
|
|
2,314 |
|
|
|
— |
|
|
|
47,653 |
|
|