MGE ENERGY INC

For the period ended Dec 31, 2025. Filed Feb 24, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

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.

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Contents

Item 8. Consolidated Balance Sheets

Consolidated Balance Sheets

	As of December 31,
ASSETS	2025	2024
Current Assets:
Cash and cash equivalents	$2,248	$16,865
Accounts receivable, less reserves of $8,578 and $6,905, respectively	57,558	51,277
Other accounts receivable, less reserves of $2,084 and $2,124, respectively	12,979	10,063
Unbilled revenues	42,770	35,833
Materials and supplies, at average cost	37,850	36,187
Fuel for electric generation, at average cost	11,010	11,521
Stored natural gas, at average cost	15,317	19,937
Prepaid taxes	18,748	18,359
Regulatory assets - current	8,879	8,522
Other current assets	17,225	14,740
Total Current Assets	224,584	223,304
Regulatory assets	42,758	36,764
Pension and other postretirement benefit asset	164,985	132,264
Other deferred assets and other	17,817	25,690
Property, Plant, and Equipment:
Property, plant, and equipment, net	2,279,927	2,149,165
Construction work in progress	292,969	138,208
Total Property, Plant, and Equipment	2,572,896	2,287,373
Total Assets	$3,023,040	$2,705,395
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Long-term debt due within one year	$21,633	$5,285
Short-term debt	94,527	—
Accounts payable	117,658	77,453
Accrued interest and taxes	10,234	11,866
Accrued payroll related items	17,244	15,870
Regulatory liabilities - current	23,490	7,966
Other current liabilities	8,843	7,418
Total Current Liabilities	293,629	125,858
Other Credits:
Deferred income taxes	301,198	280,961
Investment tax credit - deferred	48,609	44,988
Regulatory liabilities	185,372	163,336
Accrued pension and other postretirement benefits	51,105	50,155
Asset retirement obligations	76,289	69,132
Other deferred liabilities and other	67,281	67,463
Total Other Credits	729,854	676,035
Capitalization:
Common shareholder's equity:
Common Stock - $1 par value - 50,000 shares authorized; 17,348 shares outstanding	17,348	17,348
Additional paid-in capital	292,167	283,667
Retained earnings	741,049	688,404
Total Common Shareholder's Equity	1,050,564	989,419
Noncontrolling interest	156,788	150,386
Total Equity	1,207,352	1,139,805
Long-term debt	792,205	763,697
Total Capitalization	1,999,557	1,903,502
Commitments and contingencies (see Footnote 16)
Total Liabilities and Capitalization	$3,023,040	$2,705,395

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.