Segment Information

6 Months Ended

Jun. 30, 2015

Segment Information - MGE Energy and MGE.

MGE Energy operates in the following business segments: electric utility, gas utility, nonregulated energy, transmission investment, and all other. See MGE Energy's and MGE's 2014 Annual Report on Form 10-K for additional discussion of each of these segments.

The following tables show segment information for MGE Energy's operations for the indicated periods:

(In thousands)MGE Energy		Electric		Gas		Non- Regulated Energy		Transmission Investment		All Others		Consolidation/ Elimination Entries		Consolidated Total
Three Months Ended June 30, 2015
Operating revenues	$	99,481	$	20,669	$	1,976	$	-	$	-	$	-	$	122,126
Interdepartmental revenues		122		2,291		9,853		-		-		(12,266)		-
Total operating revenues		99,603		22,960		11,829		-		-		(12,266)		122,126
Depreciation and amortization		(7,456)		(1,662)		(1,866)		-		(11)		-		(10,995)
Other operating expenses		(79,961)		(19,089)		(36)		-		(262)		12,266		(87,082)
Operating income (loss)		12,186		2,209		9,927		-		(273)		-		24,049
Other (deductions) income, net		16		(25)		-		2,290		165		-		2,446
Interest (expense) income, net		(2,768)		(790)		(1,507)		-		57		-		(5,008)
Income (loss) before taxes		9,434		1,394		8,420		2,290		(51)		-		21,487
Income tax (provision) benefit		(3,164)		(557)		(3,380)		(919)		12		-		(8,008)
Net income (loss)	$	6,270	$	837	$	5,040	$	1,371	$	(39)	$	-	$	13,479

Three Months Ended June 30, 2014
Operating revenues	$	96,697	$	31,218	$	850	$	-	$	-	$	-	$	128,765
Interdepartmental revenues		127		1,892		10,673		-		-		(12,692)		-
Total operating revenues		96,824		33,110		11,523		-		-		(12,692)		128,765
Depreciation and amortization		(6,641)		(1,562)		(1,855)		-		(11)		-		(10,069)
Other operating expenses		(76,812)		(29,865)		(30)		-		(240)		12,692		(94,255)
Operating income (loss)		13,371		1,683		9,638		-		(251)		-		24,441
Other (deductions) income, net		1,036		(17)		-		2,402		127		-		3,548
Interest (expense) income, net		(2,534)		(817)		(1,559)		-		42		-		(4,868)
Income (loss) before taxes		11,873		849		8,079		2,402		(82)		-		23,121
Income tax (provision) benefit		(4,491)		(364)		(3,242)		(963)		26		-		(9,034)
Net income (loss)	$	7,382	$	485	$	4,837	$	1,439	$	(56)	$	-	$	14,087

Six Months Ended June 30, 2015
Operating revenues	$	197,721	$	90,597	$	3,942	$	-	$	-	$	-	$	292,260
Interdepartmental revenues		237		5,016		19,700		-		-		(24,953)		-
Total operating revenues		197,958		95,613		23,642		-		-		(24,953)		292,260
Depreciation and amortization		(14,788)		(3,304)		(3,729)		-		(23)		-		(21,844)
Other operating expenses		(159,761)		(79,157)		(86)		-		(465)		24,953		(214,516)
Operating income (loss)		23,409		13,152		19,827		-		(488)		-		55,900
Other (deductions) income, net		106		(26)		-		4,171		300		-		4,551
Interest (expense) income, net		(5,587)		(1,594)		(3,025)		-		107		-		(10,099)
Income (loss) before taxes		17,928		11,532		16,802		4,171		(81)		-		50,352
Income tax (provision) benefit		(5,547)		(4,638)		(6,744)		(1,675)		9		-		(18,595)
Net income (loss)	$	12,381	$	6,894	$	10,058	$	2,496	$	(72)	$	-	$	31,757

Six Months Ended June 30, 2014
Operating revenues	$	195,549	$	141,931	$	1,530	$	-	$	-	$	-	$	339,010
Interdepartmental revenues		245		5,516		21,343		-		-		(27,104)		-
Total operating revenues		195,794		147,447		22,873		-		-		(27,104)		339,010
Depreciation and amortization		(12,978)		(3,125)		(3,689)		-		(23)		-		(19,815)
Other operating expenses		(154,713)		(122,708)		(70)		-		(396)		27,104		(250,783)
Operating income (loss)		28,103		21,614		19,114		-		(419)		-		68,412
Other (deductions) income, net		2,863		(52)		-		4,883		406		-		8,100
Interest (expense) income, net		(4,739)		(1,621)		(3,131)		-		82		-		(9,409)
Income before taxes		26,227		19,941		15,983		4,883		69		-		67,103
Income tax provision		(8,844)		(8,029)		(6,414)		(1,961)		(51)		-		(25,299)
Net income	$	17,383	$	11,912	$	9,569	$	2,922	$	18	$	-	$	41,804

The following tables show segment information for MGE's operations for the indicated periods:

(In thousands)MGE		Electric		Gas		Non- Regulated Energy		Transmission Investment		Consolidation/ Elimination Entries		Consolidated Total
Three Months Ended June 30, 2015
Operating revenues	$	99,486	$	20,671	$	1,976	$	-	$	-	$	122,133
Interdepartmental revenues		117		2,289		9,853		-		(12,259)		-
Total operating revenues		99,603		22,960		11,829		-		(12,259)		122,133
Depreciation and amortization		(7,456)		(1,662)		(1,866)		-		-		(10,984)
Other operating expenses*		(83,079)		(19,632)		(3,416)		-		12,259		(93,868)
Operating income (loss)*		9,068		1,666		6,547		-		-		17,281
Other (deductions) income, net*		(30)		(39)		-		1,371		-		1,302
Interest expense, net		(2,768)		(790)		(1,507)		-		-		(5,065)
Net income		6,270		837		5,040		1,371		-		13,518
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		-		(6,626)		(6,626)
Net income attributable to MGE	$	6,270	$	837	$	5,040	$	1,371	$	(6,626)	$	6,892

Three Months Ended June 30, 2014
Operating revenues	$	96,702	$	31,223	$	850	$	-	$	-	$	128,775
Interdepartmental revenues		122		1,887		10,673		-		(12,682)		-
Total operating revenues		96,824		33,110		11,523		-		(12,682)		128,775
Depreciation and amortization		(6,641)		(1,562)		(1,855)		-		-		(10,058)
Other operating expenses*		(81,165)		(30,188)		(3,272)		-		12,682		(101,943)
Operating income*		9,018		1,360		6,396		-		-		16,774
Other (deductions) income, net*		898		(58)		-		1,439		-		2,279
Interest expense, net		(2,534)		(817)		(1,559)		-		-		(4,910)
Net income		7,382		485		4,837		1,439		-		14,143
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		-		(6,621)		(6,621)
Net income attributable to MGE	$	7,382	$	485	$	4,837	$	1,439	$	(6,621)	$	7,522

Six Months Ended June 30, 2015
Operating revenues	$	197,731	$	90,604	$	3,942	$	-	$	-	$	292,277
Interdepartmental revenues		227		5,009		19,700		-		(24,936)		-
Total operating revenues		197,958		95,613		23,642		-		(24,936)		292,277
Depreciation and amortization		(14,788)		(3,304)		(3,729)		-		-		(21,821)
Other operating expenses*		(165,221)		(83,770)		(6,830)		-		24,936		(230,885)
Operating income*		17,949		8,539		13,083		-		-		39,571
Other (deductions) income, net*		19		(51)		-		2,496		-		2,464
Interest expense, net		(5,587)		(1,594)		(3,025)		-		-		(10,206)
Net income		12,381		6,894		10,058		2,496		-		31,829
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		-		(13,179)		(13,179)
Net income attributable to MGE	$	12,381	$	6,894	$	10,058	$	2,496	$	(13,179)	$	18,650

Six Months Ended June 30, 2014
Operating revenues	$	195,560	$	141,941	$	1,530	$	-	$	-	$	339,031
Interdepartmental revenues		234		5,506		21,343		-		(27,083)		-
Total operating revenues		195,794		147,447		22,873		-		(27,083)		339,031
Depreciation and amortization		(12,978)		(3,125)		(3,689)		-		-		(19,792)
Other operating expenses*		(163,211)		(130,638)		(6,484)		-		27,083		(273,250)
Operating income*		19,605		13,684		12,700		-		-		45,989
Other (deductions) income, net*		2,517		(151)		-		2,922		-		5,288
Interest expense, net		(4,739)		(1,621)		(3,131)		-		-		(9,491)
Net income		17,383		11,912		9,569		2,922		-		41,786
Less: Net income attributable to
noncontrolling interest, net of tax		-		-		-		-		(13,131)		(13,131)
Net income attributable to MGE	$	17,383	$	11,912	$	9,569	$	2,922	$	(13,131)	$	28,655
*Amounts are shown net of the related tax expense, consistent with the presentation on the consolidated MGE Income Statement.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

MADISON GAS & ELECTRIC CO 10-Q