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Associated Electric Cooperative, Inc.

Consolidated Statements of Comprehensive Income
Years Ended December 31, 2022 and 2021
(In Thousands of Dollars)

2022 2021

Net Margin $ 24,947 $ 51,950

Other Comprehensive Income
Actuarial gain 12,299 2,922

Comprehensive Income $ 37,246 $ 54,872

See Notes to Consolidated Financial Statements 5