MGE ENERGY INC
For the period ended Mar 31, 2025. Filed May 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 7, 2025
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14. Segment Information
mation - MGE Energy and MGE
MGE Energy operates in the following business segments: electric utility, gas utility, nonregulated energy, transmission investment, and all other. See Footnote 22 to the consolidated financial statements included in Part II, Item 8 of the 2024 Annual Report on Form 10-K for additional discussion of each of these segments.
Fuel and purchased power and Purchased gas costs are significant segment expenses as defined in Segment Reporting. The CODM does not review disaggregated assets on a segment basis; therefore, such information is not presented.
The following table shows segment information for MGE Energy's and MGE's operations:
| (In thousands)MGE Energy | Electric | Gas | Non-Regulated Energy | Transmission Investment | Total Reportable Segments | All Others | Consolidation/Elimination | Consolidated Total |
|---|---|---|---|---|---|---|---|---|
| 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(a) | (55,979) | (16,096) | (44) | — | (72,119) | (436) | 11,043 | (61,512) |
| Income tax (provision) benefit | 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 |
| Operating revenues | $116,125 | $75,169 | $42 | $— | $191,336 | $— | $— | $191,336 |
| Interdepartmental revenues | (55) | 5,212 | 10,827 | — | 15,984 | — | (15,984) | — |
| Total operating revenues | 116,070 | 80,381 | 10,869 | — | 207,320 | — | (15,984) | 191,336 |
| Fuel and purchased power | (23,070) | — | — | — | (23,070) | — | 924 | (22,146) |
| Purchased gas costs | — | (46,173) | — | — | (46,173) | — | 4,296 | (41,877) |
| Depreciation and amortization | (20,648) | (4,083) | (1,869) | — | (26,600) | — | — | (26,600) |
| Interest expense | (6,328) | (1,710) | (974) | — | (9,012) | — | — | (9,012) |
| Other segment items(a) | (53,546) | (14,705) | (23) | (1) | (68,275) | (314) | 10,764 | (57,825) |
| Income tax (provision) benefit | 3,286 | (3,097) | (2,180) | (749) | (2,740) | (68) | — | (2,808) |
| Equity in earnings of investments | — | — | — | 2,746 | 2,746 | — | — | 2,746 |
| Net income (loss) | 15,764 | 10,613 | 5,823 | 1,996 | 34,196 | (382) | — | 33,814 |
(a)
Other segment items include AFUDC Income, Other Income, Net, Other Operations and Maintenance, Other General Taxes, and Interest Revenue.
| (In thousands)MGE | Electric | Gas | Non-Regulated Energy | Total Reportable Segments | Consolidation/Elimination | Consolidated Total |
|---|---|---|---|---|---|---|
| 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(a) | (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 |
| Operating revenues | $116,125 | $75,169 | $42 | $191,336 | $— | $191,336 |
| Interdepartmental revenues | (55) | 5,212 | 10,827 | 15,984 | (15,984) | — |
| Total operating revenues | 116,070 | 80,381 | 10,869 | 207,320 | (15,984) | 191,336 |
| Fuel and purchased power | (23,070) | — | — | (23,070) | 924 | (22,146) |
| Purchased gas costs | — | (46,173) | — | (46,173) | 4,296 | (41,877) |
| Depreciation and amortization | (20,648) | (4,083) | (1,869) | (26,600) | — | (26,600) |
| Interest expense | (6,328) | (1,710) | (974) | (9,012) | — | (9,012) |
| Other segment items(a) | (53,546) | (14,705) | (23) | (68,274) | 10,764 | (57,510) |
| Income tax benefit (provision) | 3,286 | (3,097) | (2,180) | (1,991) | — | (1,991) |
| Net income attributable to noncontrolling interest, net of tax | — | — | — | — | (5,597) | (5,597) |
| Net income attributable to MGE | 15,764 | 10,613 | 5,823 | 32,200 | (5,597) | 26,603 |
(a)
Other segment items include AFUDC Income, Other Income, Net, Other Operations and Maintenance, Other General Taxes, and Interest Revenue.
The following table shows segment information for MGE Energy's and MGE's capital expenditures:
| Utility · Consolidated | |||||||
|---|---|---|---|---|---|---|---|
| (In thousands) MGE Energy | Electric | Gas | Non-regulated Energy | Transmission Investment | All Others | Consolidation/ Elimination Entries | Total |
| Three Months Ended March 31, 2025 | $31,322 | $14,017 | $2,314 | $— | $— | $— | $47,653 |
| Three Months Ended March 31, 2024 | 32,964 | 8,560 | 3,247 | — | — | — | 44,771 |
| Utility · Consolidated | |||||
|---|---|---|---|---|---|
| (In thousands)MGE | Electric | Gas | Non-regulated Energy | Consolidation/ Elimination Entries | Total |
| Three Months Ended March 31, 2025 | $31,322 | $14,017 | $2,314 | $— | $47,653 |
| Three Months Ended March 31, 2024 | 32,964 | 8,560 | 3,247 | — | 44,771 |
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