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.
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Consolidated Statements of Cash Flows
| For the Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating Activities: | |||
| Net income | $126,797 | $112,299 | $112,370 |
| Adjustments to reconcile net income to cash provided by operating activities | |||
| Depreciation and amortization | 114,324 | 108,581 | 100,352 |
| Deferred income taxes | 6,458 | (433) | 21,536 |
| 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) |
| Changes in working capital items: | |||
| Accounts receivable and unbilled revenues | (21,227) | (6,582) | 11,130 |
| Inventories | 5,071 | 5,542 | (850) |
| Prepaid taxes | (389) | 3,979 | (3,871) |
| Other current assets | (3,138) | 676 | 954 |
| Accounts payable | 8,481 | 6,495 | (5,209) |
| Deferred income taxes | 10,996 | 18,501 | — |
| Other current liabilities | (1,128) | 8,191 | 4,573 |
| Regulatory assets and liabilities, net | 9,625 | 6,572 | (968) |
| Other, net | 3,005 | 7,448 | 3,584 |
| Cash Provided by Operating Activities | 254,651 | 272,953 | 231,822 |
| Investing Activities: | |||
| Capital expenditures | (343,220) | (236,925) | (222,071) |
| Other | (2,326) | (2,088) | (1,956) |
| Cash Used for Investing Activities | (345,546) | (239,013) | (224,027) |
| Financing Activities: | |||
| Cash dividends paid to parent by MGE | (51,500) | (34,500) | (41,000) |
| Distributions to parent from noncontrolling interest | (16,250) | (22,000) | (20,500) |
| Capital contribution from parent | 8,500 | 30,750 | — |
| 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 | 76,154 | (20,586) | (11,590) |
| Change in cash, cash equivalents, and restricted cash | (14,741) | 13,354 | (3,795) |
| Cash, cash equivalents, and restricted cash at beginning of period | 20,059 | 6,705 | 10,500 |
| Cash, cash equivalents, and restricted cash at end of period | $5,318 | $20,059 | $6,705 |
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