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v3.19.3.a.u2

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017
Operating Revenues: |  |  |  |
Electric revenues | $ 408,980 | $ 402,001 | $ 414,274 |
Gas revenues | 159,875 | 157,767 | 148,825 |
Total Operating Revenues | 568,855 | 559,768 | 563,099 |
Operating Expenses: |  |  |  |
Fuel for electric generation | 51,954 | 56,141 | 53,029 |
Purchased power | 41,474 | 50,807 | 58,690 |
Cost of gas sold | 79,775 | 84,968 | 76,644 |
Other operations and maintenance | 193,322 | 177,823 | 177,740 |
Depreciation and amortization | 71,562 | 56,412 | 53,077 |
Other general taxes | 19,858 | 19,410 | 19,294 |
Total Operating Expenses | 457,945 | 445,561 | 438,474 |
Operating Income (Loss) | 110,910 | 114,207 | 124,625 |
Other income, net | 18,811 | 17,055 | 14,399 |
Interest expense, net | (23,063) | (19,609) | (19,324) |
Income before income taxes | 106,658 | 111,653 | 119,700 |
Income tax provision | (19,784) | (27,434) | (22,094) | [1]
Net Income Including Noncontrolling Interest | 86,874 | 84,219 | 97,606 |
Net Income | $ 86,874 | $ 84,219 | $ 97,606 |
Earnings Per Share of Common Stock (basic and diluted) | $ 2.51 | $ 2.43 | $ 2.82 |
Dividends per share of common stock | $ 1.38 | $ 1.32 | $ 1.26 |
Weighted Average Shares Outstanding (basic and diluted) | 34,668 | 34,668 | 34,668 |
MGE [Member] |  |  |  |
Operating Revenues: |  |  |  |
Electric revenues | $ 408,980 | $ 402,001 | $ 414,277 |
Gas revenues | 159,875 | 157,767 | 148,834 |
Total Operating Revenues | 568,855 | 559,768 | 563,111 |
Operating Expenses: |  |  |  |
Fuel for electric generation | 51,954 | 56,141 | 53,031 |
Purchased power | 41,474 | 50,807 | 58,692 |
Cost of gas sold | 79,775 | 84,968 | 76,652 |
Other operations and maintenance | 192,440 | 176,762 | 176,729 |
Depreciation and amortization | 71,562 | 56,412 | 53,077 |
Other general taxes | 19,858 | 19,410 | 19,294 |
Total Operating Expenses | 457,063 | 444,500 | 437,475 |
Operating Income (Loss) | 111,792 | 115,268 | 125,636 |
Other income, net | 10,703 | 10,426 | 6,450 |
Interest expense, net | (24,298) | (21,197) | (20,024) |
Income before income taxes | 98,197 | 104,497 | 112,062 |
Income tax provision | (17,418) | (25,461) | (18,990) | [2]
Net Income Including Noncontrolling Interest | 80,779 | 79,036 | 93,072 |
Less Net Income Attributable to Noncontrolling Interest, net of tax | (22,349) | (22,552) | (43,237) |
Net Income | $ 58,430 | $ 56,484 | $ 49,835 |
[1] | In December 2017, there was a $21.7 million one-time tax impact as a result of the Tax Act.
[2] | In December 2017, there was a $21.7 million one-time tax impact as a result of the Tax Act.

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