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Investments | 12 Months Ended
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Dec. 31, 2019
Investments Disclosure [Abstract] |
Investments | Investments - MGE Energy and MGE. a.Equity Securities, Equity Method Investments, and Other Investments.
|  |  | MGE Energy |  |  | MGE |
| (In thousands) |  | 2019 |  | 2018 |  |  | 2019 |  | 2018 |
| Equity securities | $ | 14,546 | $ | 9,363 |  | $ | 209 | $ | 388 |
| Equity method investments: |  |  |  |  |  |  |  |  |  |
| ATC and ATC Holdco |  | 71,609 |  | 66,313 |  |  | - |  | - |
| Other |  | 39 |  | 26 |  |  | - |  | - |
| Total equity method investments |  | 71,648 |  | 66,339 |  |  | - |  | - |
| Other investments |  | 2,298 |  | 2,298 |  |  | - |  | - |
| Total | $ | 88,492 | $ | 78,000 |  | $ | 209 | $ | 388 |
MGE Energy's and MGE's equity securities represent publicly traded securities and private equity investments in common stock of companies in various industries. During the years ended December 31, 2019, 2018, and 2017, certain investments were liquidated. As a result of these liquidations, MGE Energy and MGE received the following:
|  |  | MGE Energy |  | MGE |
| (In thousands) |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |
| Cash proceeds | $ | 216 | $ | 960 | $ | 677 | $ | 2 | $ | 3 | $ | - |
| Gain (loss) on sale |  | 580 |  | 476 |  | 522 |  | (343) |  | 3 |  | - |
b.ATC and ATC Holdco. ATC owns and operates electric transmission facilities primarily in Wisconsin. MGE received an interest in ATC when it, like other Wisconsin electric utilities, contributed its electric transmission facilities to ATC as required by Wisconsin law. That interest is presently held by MGE Transco, which, since December 1, 2016, is owned by MGE Energy. ATC Holdco was formed by several members of ATC, including MGE Energy, to pursue electric transmission development and investments outside of Wisconsin. The ownership interest in ATC Holdco is held by MGEE Transco, a wholly-owned subsidiary of MGE Energy. As of December 31, 2019 and 2018, MGE Transco held a 3.6% ownership interest in ATC. As of December 31, 2019 and 2018, MGEE Transco held a 4.4% ownership interest in ATC Holdco. MGE Transco and MGEE Transco have accounted for their investment in ATC and ATC Holdco, respectively, under the equity method of accounting. For the years ended December 31, 2019, 2018, and 2017, MGE Transco recorded the following:
| (In thousands) |  | 2019 |  | 2018 |  | 2017 |
| Equity earnings from investment in ATC | $ | 9,889 | $ | 8,821 | $ | 10,125 |
| Dividends received from ATC(a) |  | 7,347 |  | 4,611 |  | 9,078 |
| Capital contributions to ATC |  | 3,018 |  | 2,841 |  | 3,551 |
(a)MGE Transco recorded a $2.3 million dividend receivable from ATC as of December 31, 2017. A cash dividend was received in January of 2018. ATC Holdco was formed in December 2016. In the near term, it is expected that ATC Holdco will be pursuing transmission development opportunities that typically have long development and investment lead times before becoming operational. In 2019, 2018, and 2017, MGEE Transco recorded capital contributions of $0.1 million, $0.3 million, and $2.9 million, respectively, to ATC Holdco. ATC's summarized financial data is as follows:
| (In thousands) |  |  |  |  |  |  |
| Income statement data for the year ended December 31, |  | 2019 |  | 2018 |  | 2017 |
| Operating revenues | $ | 744,371 | $ | 690,510 | $ | 721,672 |
| Operating expenses |  | (373,527) |  | (358,703) |  | (346,308) |
| Other income |  | 48 |  | 2,405 |  | 7,402 |
| Interest expense, net |  | (110,490) |  | (110,725) |  | (110,138) |
| Earnings before members' income taxes | $ | 260,402 | $ | 223,487 | $ | 272,628 |
| Balance sheet data as of December 31, |  | 2019 |  | 2018 |
| Current assets | $ | 84,635 | $ | 87,250 |
| Noncurrent assets |  | 5,244,220 |  | 4,928,793 |
| Total assets | $ | 5,328,855 | $ | 5,016,043 |
| Current liabilities | $ | 502,601 | $ | 640,040 |
| Long-term debt |  | 2,312,799 |  | 2,013,997 |
| Other noncurrent liabilities |  | 298,828 |  | 295,281 |
| Members' equity |  | 2,214,627 |  | 2,066,725 |
| Total members' equity and liabilities | $ | 5,328,855 | $ | 5,016,043 |
During 2019, 2018, and 2017, MGE recorded $30.4 million, $29.0 million, and $29.2 million, respectively, for transmission services received from ATC. MGE also provides a variety of operational, maintenance, and project management work for ATC, which is reimbursed by ATC. As of December 31, 2019 and 2018, MGE had a receivable due from ATC of $1.6 million and $0.1 million, respectively. The 2019 receivable includes expenditures to fund transmission infrastructure upgrades at Badger Hollow I and Two Creeks. MGE will be reimbursed for these costs after the new generation assets have been placed into service.

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