MGE ENERGY INC
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
MGEE$79.72-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
ments of Cash Flows
| For the Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating Activities: | |||
| Net income | $135,889 | $120,569 | $117,699 |
| Adjustments to reconcile net income to cash provided by operating activities | |||
| Depreciation and amortization | 114,324 | 108,581 | 100,352 |
| Deferred income taxes | 7,623 | 608 | 22,999 |
| Provision for doubtful receivables | 8,800 | 8,800 | 1,764 |
| Employee benefit plan (credit) cost | (5,045) | 606 | (5,796) |
| Cash contributions to pension and other postretirement plans | (7,979) | (7,722) | (7,747) |
| Equity earnings in investments | (13,009) | (12,275) | (10,631) |
| Dividends from investments | 10,987 | 8,834 | 8,508 |
| Changes in assets and liabilities | |||
| Accounts receivable and unbilled revenues | (21,754) | (6,566) | 11,174 |
| Inventories | 5,071 | 5,542 | (850) |
| Prepaid taxes | (924) | 3,921 | (3,178) |
| Other current assets | (3,095) | 665 | 950 |
| Accounts payable | 8,483 | 6,491 | (5,208) |
| Deferred income taxes | 10,996 | 18,501 | — |
| Other current liabilities | 2,242 | 6,337 | 4,168 |
| Regulatory assets and liabilities, net | 9,625 | 6,572 | (968) |
| Other, net | 1,000 | 8,320 | 4,325 |
| Cash Provided by Operating Activities | 263,234 | 277,784 | 237,561 |
| Investing Activities: | |||
| Capital expenditures | (343,220) | (236,925) | (222,071) |
| Capital contributions to investments | (9,496) | (4,792) | (6,995) |
| Other | 2,155 | 230 | (954) |
| Cash Used for Investing Activities | (350,561) | (241,487) | (230,020) |
| Financing Activities: | |||
| Issuance of common stock, net | 3,750 | 31,605 | — |
| Cash dividends paid on common stock | (67,587) | (63,596) | (60,393) |
| Repayment of long-term debt | (5,285) | (5,146) | (54,314) |
| Issuance of long-term debt | 50,000 | 50,000 | 139,300 |
| Proceeds from (repayments of) short-term debt | 92,525 | (38,000) | (32,500) |
| Other | (1,836) | (1,690) | (2,576) |
| Cash Provided by (Used for) Financing Activities | 71,567 | (26,827) | (10,483) |
| Change in cash, cash equivalents, and restricted cash | (15,760) | 9,470 | (2,942) |
| Cash, cash equivalents, and restricted cash at beginning of period | 24,496 | 15,026 | 17,968 |
| Cash, cash equivalents, and restricted cash at end of period | $8,736 | $24,496 | $15,026 |
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