$MGEE
MGE ENERGY INC

2014 Q2 Form 10-Q Financial Statement

#000116172814000020 Filed on August 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $128.8M $128.3M
YoY Change 0.37% 9.44%
Cost Of Revenue $37.10M $37.80M
YoY Change -1.85% 50.6%
Gross Profit $91.70M $90.50M
YoY Change 1.33% -1.74%
Gross Profit Margin 71.22% 70.54%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.10M $9.600M
YoY Change 5.21% -1.03%
% of Gross Profit 11.01% 10.61%
Operating Expenses $67.20M $66.00M
YoY Change 1.82% -1.49%
Operating Profit $24.44M $24.50M
YoY Change -0.23% -2.33%
Interest Expense -$4.900M -$4.700M
YoY Change 4.26% -198.66%
% of Operating Profit -20.05% -19.19%
Other Income/Expense, Net $3.548M $2.711M
YoY Change 30.87% 6.36%
Pretax Income $23.12M $22.55M
YoY Change 2.53% -1.38%
Income Tax $9.034M $8.660M
% Of Pretax Income 39.07% 38.4%
Net Earnings $14.09M $13.89M
YoY Change 1.41% -2.66%
Net Earnings / Revenue 10.94% 10.83%
Basic Earnings Per Share
Diluted Earnings Per Share $406.3K $400.6K
COMMON SHARES
Basic Shares Outstanding 34.67M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.90M $42.30M
YoY Change 107.8% 2.42%
Cash & Equivalents $87.91M $42.33M
Short-Term Investments
Other Short-Term Assets $9.663M $63.90M
YoY Change -84.88% 805.61%
Inventory $34.50M $35.20M
Prepaid Expenses
Receivables $37.69M $36.00M
Other Receivables $5.390M $8.800M
Total Short-Term Assets $218.8M $186.2M
YoY Change 17.5% 4.21%
LONG-TERM ASSETS
Property, Plant & Equipment $1.186B $1.123B
YoY Change 5.61% 15.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $70.10M $66.10M
YoY Change 6.05% 6.1%
Other Assets $6.337M $214.7M
YoY Change -97.05% 3043.48%
Total Long-Term Assets $1.378B $1.404B
YoY Change -1.85% 5.74%
TOTAL ASSETS
Total Short-Term Assets $218.8M $186.2M
Total Long-Term Assets $1.378B $1.404B
Total Assets $1.597B $1.590B
YoY Change 0.42% 5.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.08M $38.60M
YoY Change 11.6% 36.7%
Accrued Expenses $13.70M $12.50M
YoY Change 9.6% 5.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $14.00M
YoY Change -100.0%
Long-Term Debt Due $4.141M $3.700M
YoY Change 11.92% 38.73%
Total Short-Term Liabilities $86.64M $90.50M
YoY Change -4.27% 45.69%
LONG-TERM LIABILITIES
Long-Term Debt $397.3M $356.5M
YoY Change 11.46% -1.02%
Other Long-Term Liabilities $51.99M $269.9M
YoY Change -80.74% 485.77%
Total Long-Term Liabilities $472.6M $626.4M
YoY Change -24.55% 20.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $86.64M $90.50M
Total Long-Term Liabilities $472.6M $626.4M
Total Liabilities $559.3M $992.5M
YoY Change -43.65% 70.31%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $640.4M $597.8M
YoY Change
Total Liabilities & Shareholders Equity $1.597B $1.590B
YoY Change 0.42% 5.56%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $14.09M $13.89M
YoY Change 1.41% -2.66%
Depreciation, Depletion And Amortization $10.10M $9.600M
YoY Change 5.21% -1.03%
Cash From Operating Activities $26.30M $37.40M
YoY Change -29.68% 3.6%
INVESTING ACTIVITIES
Capital Expenditures -$20.50M -$33.90M
YoY Change -39.53% 40.66%
Acquisitions
YoY Change
Other Investing Activities -$900.0K -$700.0K
YoY Change 28.57% -36.36%
Cash From Investing Activities -$21.40M -$34.70M
YoY Change -38.33% 38.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.50M -6.300M
YoY Change 66.67% -38.83%
NET CHANGE
Cash From Operating Activities 26.30M 37.40M
Cash From Investing Activities -21.40M -34.70M
Cash From Financing Activities -10.50M -6.300M
Net Change In Cash -5.600M -3.600M
YoY Change 55.56% -614.29%
FREE CASH FLOW
Cash From Operating Activities $26.30M $37.40M
Capital Expenditures -$20.50M -$33.90M
Free Cash Flow $46.80M $71.30M
YoY Change -34.36% 18.44%

Facts In Submission

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AssetsCurrent
218782000 USD
CY2014Q2 us-gaap Other Inventory Supplies
OtherInventorySupplies
17991000 USD
CY2014Q2 us-gaap Energy Related Inventory Other Fossil Fuel
EnergyRelatedInventoryOtherFossilFuel
4410000 USD
CY2014Q2 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
98268000 USD
CY2014Q2 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
16985000 USD
CY2014Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6337000 USD
CY2014Q2 mgee Property Plant And Equipment Net Before Construction In Progress
PropertyPlantAndEquipmentNetBeforeConstructionInProgress
1112755000 USD
CY2014Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
73710000 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1186465000 USD
CY2014Q2 us-gaap Investments
Investments
70126000 USD
CY2014Q2 us-gaap Assets
Assets
1596963000 USD
CY2014Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
4141000 USD
CY2014Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
43078000 USD
CY2014Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8790000 USD
CY2014Q2 us-gaap Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
1267000 USD
CY2014Q2 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
10021000 USD
CY2014Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
6300000 USD
CY2014Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
8139000 USD
CY2014Q2 us-gaap Liabilities Current
LiabilitiesCurrent
86638000 USD
CY2014Q2 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
302337000 USD
CY2014Q2 us-gaap Accumulated Deferred Investment Tax Credit
AccumulatedDeferredInvestmentTaxCredit
1294000 USD
CY2014Q2 us-gaap Regulatory Liability Noncurrent
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21566000 USD
CY2014Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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DerivativeLiabilitiesNoncurrent
45490000 USD
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OtherLiabilitiesNoncurrent
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CY2014Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
472624000 USD
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1037701000 USD
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1596963000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
140000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
18264000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
597780000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-39000 USD
mgee Stockholders Equity Value Cash In Lieu Of Fractional Shares Related To Stock Split
StockholdersEquityValueCashInLieuOfFractionalSharesRelatedToStockSplit
80000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46357000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
42333000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
19098000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4024000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
9442000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
13249000 USD
CY2014Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4537000 USD
CY2014Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
534000 USD
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Amendment Flag
AmendmentFlag
false
dei Entity Registrant Name
EntityRegistrantName
MGE Energy Inc
dei Entity Central Index Key
EntityCentralIndexKey
0001161728
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
34668370 shares
CY2014Q2 mgee Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Regulatory Liabilities Assets
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInRegulatoryLiabilitiesAssets
9448000 USD
CY2013Q2 mgee Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Regulatory Liabilities Assets
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInRegulatoryLiabilitiesAssets
2743000 USD
mgee Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Regulatory Liabilities Assets
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInRegulatoryLiabilitiesAssets
15279000 USD
mgee Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Regulatory Liabilities Assets
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInRegulatoryLiabilitiesAssets
5490000 USD
CY2014Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Other Comprehensive Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome
0 USD
CY2013Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Other Comprehensive Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Other Comprehensive Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Other Comprehensive Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome
0 USD
CY2014Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
651000 USD
CY2013Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-44000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
7218000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-1351000 USD
CY2014Q2 mgee Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Current Assets
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInCurrentAssets
-185000 USD
CY2013Q2 mgee Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Current Assets
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInCurrentAssets
-123000 USD
mgee Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Current Assets
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInCurrentAssets
-185000 USD
mgee Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Current Assets
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInCurrentAssets
-123000 USD
CY2014Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
6828000 USD
CY2013Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
6162000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
13634000 USD
CY2014Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
11724000 USD
CY2013Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales
60000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales
2000 USD
CY2014Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
0 USD
CY2013Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
0 USD
CY2014Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
7294000 USD
CY2013Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
5996000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
20607000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
10248000 USD
CY2014Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0 USD
CY2013Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0 USD
CY2014Q2 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
CY2013Q2 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
CY2013Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
-66856000 USD
CY2014Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
-49349000 USD
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
119047000 USD
CY2014Q2 mgee Accruedinterestandtaxes
Accruedinterestandtaxes
4902000 USD
CY2013Q4 mgee Accruedinterestandtaxes
Accruedinterestandtaxes
5661000 USD
us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:45pt;' >MGE makes available to qualifying customers a financing program for the purchase and installation of energy-related equipment that will provide more efficient use of utility service at the customer</font><font style='font-family:Times New Roman;font-size:10pt;' >&#39;</font><font style='font-family:Times New Roman;font-size:10pt;' >s </font><font style='font-family:Times New Roman;font-size:10pt;' >property. MGE is party to a chattel paper purchase agreement with a financial institution under which it can sell or finance an undivided interest with recourse, in up to $</font><font style='font-family:Times New Roman;font-size:10pt;' >10.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > of the financing program receivables, until </font><font style='font-family:Times New Roman;font-size:10pt;' >Jul</font><font style='font-family:Times New Roman;font-size:10pt;' >y&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >31, 20</font><font style='font-family:Times New Roman;font-size:10pt;' >15</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:45pt;' >MGE retains the servicing responsibility for these receivables.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:45pt;' >MGE accounts for servicing rights under the amortization method. Initial determination of the servicing asset fair value is based on the present value of the estimated future cash flows. The discount rate is base</font><font style='font-family:Times New Roman;font-size:10pt;' >d on the PSCW authorized weighted cost of capital.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:45pt;' >MGE would be required to perform under its guarantee if a customer defaulted on its loan. The energy-related equipment installed at the customer sites is used to secure the customer loans. The loan balanc</font><font style='font-family:Times New Roman;font-size:10pt;' >es outstanding at </font><font style='font-family:Times New Roman;font-size:10pt;' >June 30,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, approximate the fair value of the energy-related equipment acting as collateral. The length of the MGE guarantee to the financial institution varies from one to ten years depending on the term of the </font><font style='font-family:Times New Roman;font-size:10pt;' >underlying </font><font style='font-family:Times New Roman;font-size:10pt;' >customer</font><font style='font-family:Times New Roman;font-size:10pt;' > loan.</font></p></div>
CY2014Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.391 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.377 pure
CY2013Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.384 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.38 pure
CY2014Q2 mgee Utilities Operating Expense Excluding Depreciation And Amortization
UtilitiesOperatingExpenseExcludingDepreciationAndAmortization
94255000 USD
CY2013Q2 mgee Utilities Operating Expense Excluding Depreciation And Amortization
UtilitiesOperatingExpenseExcludingDepreciationAndAmortization
94261000 USD
mgee Utilities Operating Expense Excluding Depreciation And Amortization
UtilitiesOperatingExpenseExcludingDepreciationAndAmortization
250783000 USD
mgee Utilities Operating Expense Excluding Depreciation And Amortization
UtilitiesOperatingExpenseExcludingDepreciationAndAmortization
214246000 USD
CY2014Q2 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
85591000 USD
CY2014Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
65926000 USD
CY2014Q2 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
49757000 USD
CY2014Q2 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
50257000 USD
CY2014Q2 us-gaap Purchase Obligation Due In Fifth Year
PurchaseObligationDueInFifthYear
51279000 USD
CY2014Q2 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
300000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
18840000 USD
CY2013Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
5352000 USD
CY2013Q4 mgee Unbilled Revenues
UnbilledRevenues
31982000 USD
CY2013Q4 us-gaap Investments
Investments
67952000 USD
CY2013Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
7750000 USD
CY2013Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
49184000 USD
CY2013Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
57930000 USD
CY2013Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
141415000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1160224000 USD
CY2014Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
-58797000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-64545000 USD
us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:45pt;' >As part of its regular operations, MGE enters into contracts, including options, swaps, futures, forwards, and other contractual commitments, to manage its exposure to commodity </font><font style='font-family:Times New Roman;font-size:10pt;' >prices and gas revenues. To the extent that these contracts are derivatives, MGE assesses whether or not the normal purchases or normal sales exclusion applies. For contracts to which this exclusion cannot be applied, MGE&#160;Energy and MGE recognize such deri</font><font style='font-family:Times New Roman;font-size:10pt;' >vatives in the consolidated balance sheets at fair value</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > The majority of MGE&#39;s derivative activities are conducted in accordance with its electric and gas risk management program, which is approved by the PSCW and limits the volume MGE can hedge with spec</font><font style='font-family:Times New Roman;font-size:10pt;' >ific risk management strategies. The maximum length of time over which cash flows related to energy commodities can be hedged </font><font style='font-family:Times New Roman;font-size:10pt;' >is four years.</font><font style='font-family:Times New Roman;font-size:10pt;' > If the derivative qualifies for regulatory deferral, the derivatives are marked to fair value and are offset with a</font><font style='font-family:Times New Roman;font-size:10pt;' > corresponding regulatory asset or liability. The deferred gain or loss is recognized in earnings in the delivery month applicable to the instrument. Gains and losses related to hedges qualifying for regulatory treatment are recoverable in gas rates throug</font><font style='font-family:Times New Roman;font-size:10pt;' >h the PGA or in electric rates as a component of the fuel rules mechanism. </font></p></div>

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