2014 Q4 Form 10-K Financial Statement

#000116172815000003 Filed on February 26, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4 2013 Q3
Revenue $145.7M $155.3M $140.1M
YoY Change -6.15% 13.33% 1.64%
Cost Of Revenue $50.40M $56.60M $30.80M
YoY Change -10.95% 20.43% 20.78%
Gross Profit $95.30M $98.70M $109.3M
YoY Change -3.44% 9.67% -2.67%
Gross Profit Margin 65.41% 63.57% 78.02%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.50M $9.900M $9.700M
YoY Change 6.06% 2.06% 0.0%
% of Gross Profit 11.02% 10.03% 8.87%
Operating Expenses $65.70M $72.70M $69.40M
YoY Change -9.63% 2.83% -4.28%
Operating Profit $29.57M $25.96M $39.90M
YoY Change 13.88% 34.17% 0.03%
Interest Expense -$5.100M -$5.000M $4.605M
YoY Change 2.0% 4.17% -5.03%
% of Operating Profit -17.25% -19.26% 11.54%
Other Income/Expense, Net -$700.0K $900.0K $3.750M
YoY Change -177.78% -57.14% 31.3%
Pretax Income $23.80M $21.90M $39.05M
YoY Change 8.68% 31.14% 3.03%
Income Tax $8.600M $7.829M $14.69M
% Of Pretax Income 36.13% 35.75% 37.63%
Net Earnings $15.19M $14.08M $24.35M
YoY Change 7.88% 34.25% 3.01%
Net Earnings / Revenue 10.42% 9.07% 17.38%
Basic Earnings Per Share $1.05
Diluted Earnings Per Share $438.0K $406.3K $703.2K
COMMON SHARES
Basic Shares Outstanding 34.67M shares 34.67M shares 23.11M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.80M $68.80M $75.30M
YoY Change -4.36% 48.28% 27.2%
Cash & Equivalents $65.76M $68.81M $75.33M
Short-Term Investments
Other Short-Term Assets $10.71M $8.225M $8.349M
YoY Change 30.22% -3.37% -6.03%
Inventory $46.30M $35.90M $41.40M
Prepaid Expenses
Receivables $41.61M $44.89M $37.44M
Other Receivables $7.610M $5.352M $8.271M
Total Short-Term Assets $250.5M $220.6M $213.9M
YoY Change 13.54% -1.05% -2.7%
LONG-TERM ASSETS
Property, Plant & Equipment $1.208B $1.160B $1.012B
YoY Change 4.13% 8.08% 4.62%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $68.87M $65.59M $67.00M
YoY Change 5.01% 7.42% 5.02%
Other Assets $4.837M $5.853M $6.436M
YoY Change -17.36% -2.01% -11.81%
Total Long-Term Assets $1.439B $1.358B $1.430B
YoY Change 5.93% -0.41% 6.32%
TOTAL ASSETS
Total Short-Term Assets $250.5M $220.6M $213.9M
Total Long-Term Assets $1.439B $1.358B $1.430B
Total Assets $1.690B $1.579B $1.644B
YoY Change 7.0% -0.5% 5.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $41.66M $43.68M $39.53M
YoY Change -4.64% 0.38% 35.21%
Accrued Expenses $16.30M $16.40M $13.90M
YoY Change -0.61% 13.89% 2.96%
Deferred Revenue
YoY Change
Short-Term Debt $7.000M $0.00 $0.00
YoY Change
Long-Term Debt Due $4.182M $4.102M $4.082M
YoY Change 1.95% 36.14% 53.06%
Total Short-Term Liabilities $90.00M $96.67M $78.71M
YoY Change -6.9% 27.53% 31.24%
LONG-TERM LIABILITIES
Long-Term Debt $395.3M $399.4M $400.4M
YoY Change -1.04% 11.42% 11.39%
Other Long-Term Liabilities $50.27M $52.36M $52.25M
YoY Change -3.99% 3.51% 7.32%
Total Long-Term Liabilities $549.5M $465.5M $551.8M
YoY Change 18.06% -18.8% -2.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.00M $96.67M $78.71M
Total Long-Term Liabilities $549.5M $465.5M $551.8M
Total Liabilities $639.5M $562.1M $630.5M
YoY Change 13.77% -13.38% 0.56%
SHAREHOLDERS EQUITY
Retained Earnings $308.0M $266.2M
YoY Change 15.71% 16.55%
Common Stock $34.67M $34.67M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares 0.000 shares
Shareholders Equity $659.4M $617.5M $612.7M
YoY Change
Total Liabilities & Shareholders Equity $1.694B $1.579B $1.644B
YoY Change 7.29% -0.5% 5.05%

Cashflow Statement

Concept 2014 Q4 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $15.19M $14.08M $24.35M
YoY Change 7.88% 34.25% 3.01%
Depreciation, Depletion And Amortization $10.50M $9.900M $9.700M
YoY Change 6.06% 2.06% 0.0%
Cash From Operating Activities $7.800M $31.70M $42.50M
YoY Change -75.39% 5.32% -22.87%
INVESTING ACTIVITIES
Capital Expenditures -$26.60M -$26.90M -$29.00M
YoY Change -1.12% -17.23% 10.27%
Acquisitions
YoY Change
Other Investing Activities -$400.0K -$800.0K -$700.0K
YoY Change -50.0% 33.33% -30.0%
Cash From Investing Activities -$27.00M -$27.70M -$29.70M
YoY Change -2.53% -16.57% 8.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.900M -10.50M 20.20M
YoY Change -62.86% 7.14% -304.04%
NET CHANGE
Cash From Operating Activities 7.800M 31.70M 42.50M
Cash From Investing Activities -27.00M -27.70M -29.70M
Cash From Financing Activities -3.900M -10.50M 20.20M
Net Change In Cash -23.10M -6.500M 33.00M
YoY Change 255.38% -49.61% 85.39%
FREE CASH FLOW
Cash From Operating Activities $7.800M $31.70M $42.50M
Capital Expenditures -$26.60M -$26.90M -$29.00M
Free Cash Flow $34.40M $58.60M $71.50M
YoY Change -41.3% -6.39% -12.16%

Facts In Submission

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<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;font-weight:bold;margin-left:27pt;' >Use of Estimates - MGE&#160;Energy and MGE.</font></p><p style='text-align:left;line-height:12pt;' ></p><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;' >In order to prepare consolidated financial statements in conformity with GAAP, management must make estimates and assumptions. These estimates could affect reported amounts of assets, liabilities, and disclosures at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from management&#39;s estimates.</font></p></div>
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CY2013Q4 mgee Deferred Tax Liabilities Deductible Prepayments
DeferredTaxLiabilitiesDeductiblePrepayments
7508000 USD
CY2012 mgee Unrecognized Tax Benefits Decrease Resulting From Interest Expense On Uncertain Tax Positions
UnrecognizedTaxBenefitsDecreaseResultingFromInterestExpenseOnUncertainTaxPositions
0 USD
CY2014 mgee Unrecognized Tax Benefits Decrease Resulting From Interest Expense On Uncertain Tax Positions
UnrecognizedTaxBenefitsDecreaseResultingFromInterestExpenseOnUncertainTaxPositions
97000 USD
CY2013 mgee Unrecognized Tax Benefits Decrease Resulting From Interest Expense On Uncertain Tax Positions
UnrecognizedTaxBenefitsDecreaseResultingFromInterestExpenseOnUncertainTaxPositions
275000 USD
CY2014 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
88000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
92000 USD
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
195000 USD
CY2013Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
10369000 USD
CY2013Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
82165000 USD
CY2013Q4 us-gaap Deferred Tax Assets Regulatory Assets And Liabilities
DeferredTaxAssetsRegulatoryAssetsAndLiabilities
1402000 USD
CY2013Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
1995000 USD
CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
44994000 USD
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
26838000 USD
CY2013Q4 mgee Deferred Tax Liabilities Pension And Other Postretirement Benefits
DeferredTaxLiabilitiesPensionAndOtherPostretirementBenefits
34478000 USD
CY2014Q4 mgee Deferred Tax Liabilities Pension And Other Postretirement Benefits
DeferredTaxLiabilitiesPensionAndOtherPostretirementBenefits
57847000 USD
CY2014Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
449169000 USD
CY2013Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
368472000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2363000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3204000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2364000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2365000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
314000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
216000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
101000 USD
CY2013 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
62000 USD
CY2012 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
98000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
610000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
618000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
424000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
377000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
580000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
401000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
1226000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
1602000 USD
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
141000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromCurrentPeriodTaxPositions
40000 USD
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
1400000 USD
CY2014Q4 mgee Unrecognized Tax Benefits Current Period Tax Positions Permanent Differences
UnrecognizedTaxBenefitsCurrentPeriodTaxPositionsPermanentDifferences
0 USD
CY2013Q4 mgee Unrecognized Tax Benefits Current Period Tax Positions Permanent Differences
UnrecognizedTaxBenefitsCurrentPeriodTaxPositionsPermanentDifferences
0 USD
CY2012Q4 mgee Unrecognized Tax Benefits Current Period Tax Positions Permanent Differences
UnrecognizedTaxBenefitsCurrentPeriodTaxPositionsPermanentDifferences
0 USD
CY2013 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2300000 USD
CY2014 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2500000 USD
CY2012 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2100000 USD
CY2014 mgee Defined Benefit Plan Transition Obligation Amortization Period
DefinedBenefitPlanTransitionObligationAmortizationPeriod
P20Y
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1400000 USD
CY2014 mgee Regional Transmission Organization Reduction To Sales And Purchased Power Expense From Net Basis Reporting
RegionalTransmissionOrganizationReductionToSalesAndPurchasedPowerExpenseFromNetBasisReporting
91100000 USD
CY2013 mgee Regional Transmission Organization Reduction To Sales And Purchased Power Expense From Net Basis Reporting
RegionalTransmissionOrganizationReductionToSalesAndPurchasedPowerExpenseFromNetBasisReporting
78000000 USD
CY2012 mgee Regional Transmission Organization Reduction To Sales And Purchased Power Expense From Net Basis Reporting
RegionalTransmissionOrganizationReductionToSalesAndPurchasedPowerExpenseFromNetBasisReporting
75900000 USD
CY2014 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</font><font style='font-family:Times New Roman;font-size:10pt;' > four</font><font style='font-family:Times New Roman;font-size:10pt;' > years. 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>
CY2014Q4 mgee Counterparties In Default
CounterpartiesInDefault
0
CY2014Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
122841000 USD
CY2014Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
78534000 USD
CY2014Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
63703000 USD
CY2014Q4 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
57828000 USD
CY2014Q4 us-gaap Purchase Obligation Due In Fifth Year
PurchaseObligationDueInFifthYear
41360000 USD
CY2014Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
19744000 USD
CY2014Q3 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
862000 USD
CY2014Q4 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
891000 USD
CY2013 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
296000 USD
CY2013 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
744000 USD
CY2013 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
24000 USD
CY2013 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1015000 USD
CY2014 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</font><font style='font-family:Times New Roman;font-size:10pt;' > 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 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 receiv</font><font style='font-family:Times New Roman;font-size:10pt;' >ables, until </font><font style='font-family:Times New Roman;font-size:10pt;' >July&#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 </font><font style='font-family:Times New Roman;font-size:10pt;' >cash flows. The discount rate is based 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 maintains responsibility for collecting and remitting loan payments from customers to the financial institution and does not retain any interest in the assets sold</font><font style='font-family:Times New Roman;font-size:10pt;' > to the financial institution. </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 bal</font><font style='font-family:Times New Roman;font-size:10pt;' >ances outstanding at </font><font style='font-family:Times New Roman;font-size:10pt;' >December 31,</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;' >custo</font><font style='font-family:Times New Roman;font-size:10pt;' >mer loan.</font></p></div>
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2500000 USD
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2700000 USD
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2600000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1553000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1346000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
872000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
419000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
258000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
7938000 USD
CY2013Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
19359000 USD
CY2012Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
18768000 USD
CY2014 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
68000 USD
CY2014 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1077000 USD
CY2014 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
343000 USD
CY2014 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-417000 USD
CY2014Q1 us-gaap Electric Domestic Regulated Revenue
ElectricDomesticRegulatedRevenue
98852000 USD
CY2014Q2 us-gaap Electric Domestic Regulated Revenue
ElectricDomesticRegulatedRevenue
96697000 USD
CY2014Q3 us-gaap Electric Domestic Regulated Revenue
ElectricDomesticRegulatedRevenue
112869000 USD
CY2014Q4 us-gaap Electric Domestic Regulated Revenue
ElectricDomesticRegulatedRevenue
86431000 USD
CY2014Q1 us-gaap Gas Domestic Regulated Revenue
GasDomesticRegulatedRevenue
110713000 USD
CY2014Q2 us-gaap Gas Domestic Regulated Revenue
GasDomesticRegulatedRevenue
31218000 USD
CY2014Q3 us-gaap Gas Domestic Regulated Revenue
GasDomesticRegulatedRevenue
21404000 USD
CY2014Q4 us-gaap Gas Domestic Regulated Revenue
GasDomesticRegulatedRevenue
58385000 USD
CY2014Q1 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
680000 USD
CY2014Q2 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
850000 USD
CY2014Q1 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
210245000 USD
CY2014Q2 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
128765000 USD
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.7
CY2014Q3 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
135135000 USD
CY2014Q4 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
145707000 USD
CY2014Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
166274000 USD
CY2014Q2 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
104324000 USD
CY2014Q3 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
95015000 USD
CY2014Q4 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
116141000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
43971000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
40120000 USD
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
29566000 USD
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16265000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9034000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14286000 USD
CY2014Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8600000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
27717000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
14087000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
23329000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
15186000 USD
CY2014Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.272
CY2014Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.283
CY2014Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.283
CY2013Q4 us-gaap Electric Domestic Regulated Revenue
ElectricDomesticRegulatedRevenue
93781000 USD
CY2013Q4 us-gaap Gas Domestic Regulated Revenue
GasDomesticRegulatedRevenue
60089000 USD
CY2013Q4 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
1393000 USD
CY2013Q4 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
155263000 USD
CY2013Q4 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
129301000 USD
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
25962000 USD
CY2013Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7829000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
14077000 USD
CY2013Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.272
CY2013Q1 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
167237000 USD
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13678000 USD
CY2013Q1 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
1276000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
22584000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
37628000 USD
CY2013Q1 us-gaap Gas Domestic Regulated Revenue
GasDomesticRegulatedRevenue
72467000 USD
CY2013Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
129609000 USD
CY2013Q1 us-gaap Electric Domestic Regulated Revenue
ElectricDomesticRegulatedRevenue
93494000 USD
CY2013Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.263
CY2013Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.263
CY2013Q2 us-gaap Gas Domestic Regulated Revenue
GasDomesticRegulatedRevenue
30042000 USD
CY2013Q2 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
128288000 USD
CY2013Q2 us-gaap Electric Domestic Regulated Revenue
ElectricDomesticRegulatedRevenue
96846000 USD
CY2013Q2 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
103791000 USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8660000 USD
CY2013Q2 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
1400000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
13891000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
24497000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
39900000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14692000 USD
CY2013Q3 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
140099000 USD
CY2013Q3 us-gaap Gas Domestic Regulated Revenue
GasDomesticRegulatedRevenue
18864000 USD
CY2013Q3 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
1399000 USD
CY2013Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.272
CY2013Q3 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
100199000 USD
CY2013Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.41
CY2013Q1 mgee Interest Expense And Other Income Net
InterestExpenseAndOtherIncomeNet
-1366000 USD
CY2014Q4 mgee Interest Expense And Other Income Net
InterestExpenseAndOtherIncomeNet
-5780000 USD
CY2013Q4 mgee Interest Expense And Other Income Net
InterestExpenseAndOtherIncomeNet
-4056000 USD
CY2013Q3 us-gaap Electric Domestic Regulated Revenue
ElectricDomesticRegulatedRevenue
119836000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
24353000 USD
CY2014Q1 mgee Interest Expense And Other Income Net
InterestExpenseAndOtherIncomeNet
11000 USD
CY2014Q2 mgee Interest Expense And Other Income Net
InterestExpenseAndOtherIncomeNet
-1320000 USD
CY2014Q3 mgee Interest Expense And Other Income Net
InterestExpenseAndOtherIncomeNet
-2505000 USD
CY2013Q3 mgee Interest Expense And Other Income Net
InterestExpenseAndOtherIncomeNet
-855000 USD
CY2013Q2 mgee Interest Expense And Other Income Net
InterestExpenseAndOtherIncomeNet
-1946000 USD
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.8
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.41
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.67
CY2014Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.44
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.65
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.4
CY2013 us-gaap Cash Dividends Paid To Parent Company By Consolidated Subsidiaries
CashDividendsPaidToParentCompanyByConsolidatedSubsidiaries
52366000 USD
CY2012 us-gaap Cash Dividends Paid To Parent Company By Consolidated Subsidiaries
CashDividendsPaidToParentCompanyByConsolidatedSubsidiaries
44343000 USD
CY2014 us-gaap Cash Dividends Paid To Parent Company By Consolidated Subsidiaries
CashDividendsPaidToParentCompanyByConsolidatedSubsidiaries
47859000 USD
CY2013Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
4969711 USD
CY2014 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
1898300 USD
CY2014 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
15092 USD
CY2014 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
2134446 USD
CY2014Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
4748657 USD
CY2013 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
2373342 USD
CY2013 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
37200 USD
CY2012Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
4816118 USD
CY2013 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
2256949 USD
CY2011Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
4100333 USD
CY2012 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
2825300 USD
CY2012 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
44400 USD
CY2012 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
2153915 USD
CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
0 USD
CY2014 dei Trading Symbol
TradingSymbol
MGEE
CY2013Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
200000 USD
CY2013 mgee Fair Value Inputs Delivery Points Basis Adjustment On Peak
FairValueInputsDeliveryPointsBasisAdjustmentOnPeak
0.942 pure
CY2013 mgee Fair Value Inputs Delivery Points Basis Adjustment Off Peak
FairValueInputsDeliveryPointsBasisAdjustmentOffPeak
0.926 pure
CY2013Q4 mgee Counterparties In Net Liability Position
CounterpartiesInNetLiabilityPosition
0 USD
CY2014Q4 mgee Counterparties In Net Liability Position
CounterpartiesInNetLiabilityPosition
100000 USD
CY2014Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
7000000 USD
CY2013Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2014 mgee Stockholders Equity Value Cash In Lieu Of Fractional Shares Related To Stock Split
StockholdersEquityValueCashInLieuOfFractionalSharesRelatedToStockSplit
80000 USD
CY2014Q4 us-gaap Margin Deposit Assets
MarginDepositAssets
2200000 USD
CY2013Q4 us-gaap Margin Deposit Assets
MarginDepositAssets
500000 USD
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2012 us-gaap Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
1300000 USD
CY2013Q4 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1.5 pure
CY2014 dei Document Type
DocumentType
10-K
CY2014 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2014 dei Entity Central Index Key
EntityCentralIndexKey
0001161728
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.002 pure
CY2013Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0 pure
CY2012Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0 pure
CY2012Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2014 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
CY2013 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
CY2012 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.001 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.003 pure
CY2014Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
2200000 USD
CY2012Q4 us-gaap Assets
Assets
1586924000 USD
CY2014 us-gaap Defined Benefit Plans Estimated Future Employer Contributions In Next Fiscal Year
DefinedBenefitPlansEstimatedFutureEmployerContributionsInNextFiscalYear
10000000 USD
CY2014Q4 mgee Defined Benefit Plans Expected Future Employer Contributions Year Two
DefinedBenefitPlansExpectedFutureEmployerContributionsYearTwo
0 USD
CY2014Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
2200000 USD
CY2014 mgee Operating Leases Renewal Option Term
OperatingLeasesRenewalOptionTerm
P1Y
CY2014Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
327500000 USD
CY2013Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
315000000 USD
CY2014 mgee Utilities Operating Expense Excluding Depreciation And Amortization
UtilitiesOperatingExpenseExcludingDepreciationAndAmortization
441059000 USD
CY2013 mgee Utilities Operating Expense Excluding Depreciation And Amortization
UtilitiesOperatingExpenseExcludingDepreciationAndAmortization
424062000 USD
CY2014Q4 us-gaap Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
3482000 USD
CY2012 mgee Utilities Operating Expense Excluding Depreciation And Amortization
UtilitiesOperatingExpenseExcludingDepreciationAndAmortization
389853000 USD
CY2014Q4 mgee Deferred Tax Assets Future Federal Tax Benefits
DeferredTaxAssetsFutureFederalTaxBenefits
4092000 USD
CY2013Q4 mgee Deferred Tax Assets Future Federal Tax Benefits
DeferredTaxAssetsFutureFederalTaxBenefits
0 USD
CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2000000 USD
CY2014Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.272
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
617510000 USD

Files In Submission

Name View Source Status
0001161728-15-000003-index-headers.html Edgar Link pending
0001161728-15-000003-index.html Edgar Link pending
0001161728-15-000003.txt Edgar Link pending
0001161728-15-000003-xbrl.zip Edgar Link pending
10k_2014.pdf Edgar Link pending
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mgee-20141231.xml Edgar Link completed
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