MGE ENERGY INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
MGEE$79.72-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| For the Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating Activities: | |||
| Net income | $112,370 | $105,492 | $100,782 |
| Items not affecting cash: | |||
| Depreciation and amortization | 100,352 | 85,549 | 76,983 |
| Deferred income taxes | 21,536 | 22,767 | 3,654 |
| Provision for doubtful receivables | 1,764 | 1,764 | 1,550 |
| Employee benefit plan (credit) cost | (5,796) | (8,142) | (2,203) |
| Other items | (241) | 672 | 2,002 |
| Changes in working capital items: | |||
| Accounts receivable and unbilled revenues | 11,130 | (16,697) | (24,680) |
| Inventories | (850) | (22,226) | (6,342) |
| Prepaid taxes | (3,871) | 912 | (4,531) |
| Other current assets | 5,032 | (3,774) | (148) |
| Accounts payable | (5,209) | 5,104 | 2,775 |
| Accrued interest and taxes | 1,413 | (2,737) | 244 |
| Other current liabilities | (3,272) | (2,541) | (11,107) |
| Cash contributions to pension and other postretirement plans | (7,747) | (7,308) | (6,935) |
| Other noncurrent items, net | 5,211 | (7,768) | (1,804) |
| Cash Provided by Operating Activities | 231,822 | 151,067 | 130,240 |
| Investing Activities: | |||
| Capital expenditures | (222,071) | (175,030) | (153,169) |
| Other | (1,956) | (1,065) | (1,709) |
| Cash Used for Investing Activities | (224,027) | (176,095) | (154,878) |
| Financing Activities: | |||
| Cash dividends paid to parent by MGE | (41,000) | (33,500) | (5,000) |
| Distributions to parent from noncontrolling interest | (20,500) | (22,000) | (15,000) |
| Repayment of long-term debt | (54,314) | (4,889) | (4,771) |
| Issuance of long-term debt | 139,300 | 25,000 | 100,000 |
| (Repayments of) proceeds from short-term debt | (32,500) | 65,000 | (47,000) |
| Other | (2,576) | (1,881) | (2,197) |
| Cash (Used for) Provided by Financing Activities | (11,590) | 27,730 | 26,032 |
| Change in cash, cash equivalents, and restricted cash | (3,795) | 2,702 | 1,394 |
| Cash, cash equivalents, and restricted cash at beginning of period | 10,500 | 7,798 | 6,404 |
| Cash, cash equivalents, and restricted cash at end of period | $6,705 | $10,500 | $7,798 |
| Supplemental disclosures of cash flow information: | |||
| Interest paid | $29,526 | $25,957 | $23,502 |
| Significant noncash investing activities: | |||
| Accrued capital expenditures | $17,247 | $5,970 | $14,414 |
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