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v3.5.0.2

Madison Gas and Electric Company Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015
Operating Revenues: |  |  |  |  |
Electric revenues |  | $ 100,615 | $ 101,457 | $ 194,305 | $ 201,663
Gas revenues |  | 20,961 | 20,669 | 74,798 | 90,597
Total Operating Revenues |  | 121,576 | 122,126 | 269,103 | 292,260
Operating Expenses: |  |  |  |  |
Fuel for electric generation |  | 15,049 | 12,677 | 27,062 | 24,569
Purchased power |  | 14,861 | 21,265 | 29,531 | 44,130
Cost of gas sold |  | 6,410 | 6,650 | 38,933 | 53,569
Other operations and maintenance |  | 40,963 | 41,500 | 83,693 | 82,174
Depreciation and amortization |  | 11,114 | 10,995 | 22,146 | 21,844
Other general taxes |  | 4,967 | 4,990 | 9,995 | 10,074
Income tax provision |  | 9,284 | 8,008 | 19,229 | 18,595
Total Operating Expenses |  | 93,364 | 98,077 | 211,360 | 236,360
Operating Income |  | 28,212 | 24,049 | 57,743 | 55,900
Other Income and Deductions: |  |  |  |  |
Equity in earnings in ATC |  | 1,767 | 2,289 | 4,000 | 4,170
Total Other Income and Deductions |  | 2,179 | 2,446 | 4,621 | 4,551
Interest Expense: |  |  |  |  |
Net Interest Expense |  | 4,957 | 5,008 | 9,957 | 10,099
Net Income |  | 16,150 | 13,479 | 33,178 | 31,757
MGE [Member] |  |  |  |  |
Operating Revenues: |  |  |  |  |
Electric revenues |  | 100,622 | 101,462 | 194,318 | 201,673
Gas revenues |  | 20,967 | 20,671 | 74,814 | 90,604
Total Operating Revenues |  | 121,589 | 122,133 | 269,132 | 292,277
Operating Expenses: |  |  |  |  |
Fuel for electric generation |  | 15,051 | 12,679 | 27,067 | 24,573
Purchased power |  | 14,864 | 21,268 | 29,538 | 44,136
Cost of gas sold |  | 6,415 | 6,654 | 38,949 | 53,577
Other operations and maintenance |  | 40,712 | 41,236 | 83,114 | 81,708
Depreciation and amortization |  | 11,102 | 10,984 | 22,122 | 21,821
Other general taxes |  | 4,967 | 4,990 | 9,995 | 10,074
Income tax provision |  | 8,464 | 7,041 | 17,554 | 16,817
Total Operating Expenses |  | 101,575 | 104,852 | 228,339 | 252,706
Operating Income | [1] | 20,014 | 17,281 | 40,793 | 39,571
Other Income and Deductions: |  |  |  |  |
AFUDC - equity funds |  | 263 | 167 | 524 | 295
Equity in earnings in ATC |  | 1,767 | 2,289 | 4,000 | 4,170
Income tax provision |  | (767) | (978) | (1,709) | (1,786)
Other income, net |  | (163) | (176) | (236) | (215)
Total Other Income and Deductions | [1] | 1,100 | 1,302 | 2,579 | 2,464
Income before interest expense |  | 21,114 | 18,583 | 43,372 | 42,035
Interest Expense: |  |  |  |  |
Interest on long-term debt |  | 5,096 | 5,136 | 10,205 | 10,287
Other interest, net |  | 14 | (17) | 51 | 15
AFUDC - borrowed funds |  | (86) | (54) | (171) | (96)
Net Interest Expense |  | 5,024 | 5,065 | 10,085 | 10,206
Net Income Including Noncontrolling Interest |  | 16,090 | 13,518 | 33,287 | 31,829
Less Net Income Attributable to Noncontrolling Interest, net of tax |  | (5,952) | (6,626) | (12,204) | (13,179)
Net Income |  | $ 10,138 | $ 6,892 | $ 21,083 | $ 18,650
[1] | *Amounts are shown net of the related tax expense, consistent with the presentation on the MGE Consolidated Statement of Income.

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