MGE Energy Inc. (MGEE) Financial Statements (2024 and earlier)

Company Profile

Business Address 133 SOUTH BLAIR STREET
MADISON, WI 53701-1231
State of Incorp. WI
Fiscal Year End December 31
Industry (SIC) 49 - Electric, Gas, And Sanitary Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments11,60417,43844,73823,48183,102107,952
Cash and cash equivalents11,60417,43844,73823,48183,102107,952
Restricted cash and investments867847644619634 
Receivables109,91197,11176,19574,32178,09883,139
Inventory, net of allowances, customer advances and progress billings40,81022,09714,75218,99517,90221,179
Inventory40,81022,09714,75218,99517,90221,179
Prepaid expense19,13220,21415,17916,89216,21526,535
Regulatory asset9,5411,46514,74811,4329,4777,888
Asset, held-for-sale, not part of disposal group     3,0808,817
Other current assets19,01711,18311,39410,2338,59312,507
Other undisclosed current assets32,59829,01631,86925,66823,45922,614
Total current assets:243,480199,371209,519181,641240,560290,631
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 14,75615,545 15,895
Operating lease, right-of-use asset 7,7867,961 671
Property, plant and equipment1,971,1001,878,7741,769,3851,642,6831,509,4371,341,357
Long-term investments and receivables 81,18177,05675,89773,45969,04865,214
Long-term investments 80,62575,90174,46271,64866,33960,426
Accounts and financing receivable, after allowance for credit loss 5561,1551,4351,8112,7094,788
Regulated entity, other noncurrent assets103,900107,547142,504134,314145,424142,567
Other noncurrent assets23,80927,54822,25919,09312,488731
Other undisclosed noncurrent assets71,58858,10434,08713,90811,66114,682
Total noncurrent assets:2,274,1202,172,5352,044,1321,900,0231,748,0581,564,551
TOTAL ASSETS:2,517,6002,371,9062,253,6512,081,6641,988,6181,855,182
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities72,39877,10067,27767,91359,20259,889
Employee-related liabilities12,95112,63512,75213,04412,244
Accounts payable59,33464,14954,64255,16146,15847,645
Accrued liabilities13,064     
Debt125,85311,43957,27120,75017,55328,452
Derivative instruments and hedges, liabilities  2,14010,16010,1008,5508,180
Regulatory liability11,9259,36541,6649,22813,8265,633
Other liabilities8,0578,4686,01514,67614,11318,758
Other undisclosed current liabilities6,8299,3358,5396,1537,3845,602
Total current liabilities:225,062117,847190,926128,820120,628126,514
Noncurrent Liabilities
Long-term debt and lease obligation17,10817,32217,53217,379  
Finance lease, liability17,10817,32217,53217,379
Liabilities, other than long-term debt608,510595,058549,890556,048558,003552,320
Deferred revenue and credits918
Accumulated deferred investment tax credit48,73544,83621,821763818
Deferred tax liabilities, net231,952225,130
Deferred income tax liabilities252,190231,149231,471243,302
Liability, pension and other postretirement and postemployment benefits53,60773,08578,16868,66567,48369,088
Regulatory liability156,988154,298142,239164,965165,638154,153
Other liabilities96,99091,69072,21163,01368,13269,041
Derivative instruments and hedges, liabilities   3,98015,34023,98033,990
Total noncurrent liabilities:625,618612,380567,422573,427558,003552,320
Total liabilities:850,680730,227758,348702,247678,631678,834
Equity
Equity, attributable to parent1,081,6741,027,468976,000855,676816,644778,187
Common stock 36,16336,16336,16334,66834,66834,668
Additional paid in capital 395,657394,903394,408316,268316,268316,268
Accumulated other comprehensive income      377
Retained earnings 649,854596,402545,429504,740465,708426,874
Other undisclosed equity, attributable to parent      
Total equity:1,081,6741,027,468976,000855,676816,644778,187
Other undisclosed liabilities and equity585,246614,211519,303523,741493,343398,161
TOTAL LIABILITIES AND EQUITY:2,517,6002,371,9062,253,6512,081,6641,988,6181,855,182

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues714,519606,584538,633568,855559,768563,099
Revenue, net563,099
Cost of revenue
(Cost of Goods and Services Sold)
 (14,700)(13,500)(14,100)(13,900)(14,400)(14,100)
Other undisclosed gross profit      
Gross profit:699,819593,084524,533554,955545,368548,999
Operating expenses(6,606)(7,585)(5,775)(8,119)(5,481) 
Other undisclosed operating loss(555,470)(468,205)(408,761)(435,926)(425,680)(420,263)
Operating income:137,743117,294109,997110,910114,207128,736
Nonoperating income26,08016,69425,36518,81117,05510,288
Public utilities, allowance for funds used during construction, capitalized cost of equity 3,0005,0005,9002,3002,500 
Interest and debt expense (752)(771)(784)(792)  
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:163,071133,217134,578128,929131,262139,024
Income from equity method investments9,1369,27010,2219,889  
Income from continuing operations before income taxes:172,207142,487144,799138,818131,262139,024
Income tax expense(26,224)(4,115)(19,423)(19,784)(27,434)(22,094)
Income from continuing operations:145,983138,372125,376119,034103,828116,930
Income before gain (loss) on sale of properties:138,372125,376119,034103,828116,930
Other undisclosed net loss(35,031)(32,611)(32,958)(32,160)  
Net income:110,952105,76192,41886,874103,828116,930
Other undisclosed net loss attributable to parent     (19,609)(19,324)
Net income available to common stockholders, basic:110,952105,76192,41886,87484,21997,606
Dilutive securities, effect on basic earnings per share  3,668    
Net income available to common stockholders, diluted:110,952109,42992,41886,87484,21997,606

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:110,952105,76192,41886,874103,828116,930
Other comprehensive income      175
Comprehensive income:110,952105,76192,41886,874103,828117,105
Other undisclosed comprehensive loss, net of tax, attributable to parent     (19,609)(19,324)
Comprehensive income, net of tax, attributable to parent:110,952105,76192,41886,87484,21997,781

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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