v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities:    
Net Income $ 81,834 $ 68,090
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 57,028 56,032
Deferred income taxes 5,518 2,578
Provision for doubtful receivables 3,513 4,400
Employee benefit plan credit (4,232) (2,320)
Cash contributions to pension and other postretirement plans (3,752) (3,800)
Equity earnings in investments (7,336) (6,241)
Dividends from investments 5,545 6,008
Changes in assets and liabilities    
Current assets 23,420 13,105
Accounts payable (21,055) (13,491)
Deferred income taxes 9,532 0
Other current liabilities 298 (2,309)
Regulatory assets and liabilities, net 9,995 7,381
Other, net (11,480) 4,520
Cash Provided by Operating Activities 148,828 133,953
Investing Activities:    
Capital expenditures (210,906) (111,753)
Capital contributions to investments (7,714) (5,871)
Other 2,287 (630)
Cash Used for Investing Activities (216,333) (118,254)
Financing Activities:    
Issuance of common stock, net 88,948 3,750
Cash dividends paid on common stock (35,299) (32,872)
Repayments of long-term debt (3,897) (2,625)
Issuance of long-term debt 90,000 0
Proceeds from short-term debt (59,777) 5,500
Other (1,523) (812)
Cash Provided by (Used for) Financing Activities 78,452 (27,059)
Change in cash, cash equivalents, and restricted cash 10,947 (11,360)
Cash, cash equivalents, and restricted cash at beginning of period 8,736 24,496
Cash, cash equivalents, and restricted cash at end of period 19,683 13,136
MGE [Member]    
Operating Activities:    
Net Income 73,925 64,278
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 57,028 56,032
Deferred income taxes 4,376 1,785
Provision for doubtful receivables 3,513 4,400
Employee benefit plan credit (4,232) (2,319)
Cash contributions to pension and other postretirement plans (3,752) (3,800)
Changes in assets and liabilities    
Current assets 22,278 13,107
Accounts payable (21,297) (13,533)
Deferred income taxes 9,532 0
Other current liabilities 3,428 (2,771)
Regulatory assets and liabilities, net 9,995 7,381
Other, net (8,344) 3,428
Cash Provided by Operating Activities 146,450 127,988
Investing Activities:    
Capital expenditures (210,906) (111,753)
Other (3,116) (765)
Cash Used for Investing Activities (214,022) (112,518)
Financing Activities:    
Cash dividends paid to parent by MGE (18,000) (23,500)
Distributions to parent from noncontrolling interest (8,250) (8,000)
Capital contributions from parent 77,500 0
Repayments of long-term debt (3,897) (2,625)
Issuance of long-term debt 90,000 0
Proceeds from short-term debt (59,777) 5,500
Other (1,523) (812)
Cash Provided by (Used for) Financing Activities 76,053 (29,437)
Change in cash, cash equivalents, and restricted cash 8,481 (13,967)
Cash, cash equivalents, and restricted cash at beginning of period 5,318 20,059
Cash, cash equivalents, and restricted cash at end of period $ 13,799 $ 6,092