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Operations and Significant Accounting Policies | 9 Months Ended
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Sep. 30, 2014
Operations and Significant Accounting Policies [Abstract] |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES Inventories. Inventories are stated at the lower of cost or market. Amounts removed from inventory are recorded on an average cost basis.
Inventories | September 30, 2014 |  |  | December 31, 2013 |
Millions |  |  |
Fuel |  | $16.8 |  |  |  | $13.1 |
Materials and Supplies | 54.8 |  |  | 46.2 |
Total Inventories |  | $71.6 |  |  |  | $59.3 |
Prepayments and Other Current Assets | September 30, 2014 |  |  | December 31, 2013 |
Millions |  |  |
Deferred Fuel Adjustment Clause |  | $18.5 |  |  |  | $23.0 |
Restricted Cash (a) | 2.4 |  |  | — |
Other | 8.4 |  |  | 12.1 |
Total Prepayments and Other Current Assets |  | $29.3 |  |  |  | $35.1 |
(a) | Restricted Cash related to ALLETE Clean Energy’s wind energy facilities operating expense and capital distribution reserve requirements.
Other Non-Current Assets. As of September 30, 2014, included in Other Non-Current Assets on the Consolidated Balance Sheet was restricted cash of $4.9 million related to ALLETE Clean Energy’s wind energy facilities debt service and other requirements. As of December 31, 2013, the Company had restricted cash of $5.4 million related to cash held in escrow pending the closing of the wind energy facilities acquisition, which was completed on January 30, 2014. (See Note 4. Acquisition.)
Other Current Liabilities | September 30, 2014 |  |  | December 31, 2013 |
Millions |  |  |
Customer Deposits |  | $21.2 |  |  |  | $26.0 |
Power Purchase Agreements (a) | 12.3 |  |  | — |
Other | 26.9 |  |  | 26.6 |
Total Other Current Liabilities |  | $60.4 |  |  |  | $52.6 |
(a) | Power Purchase Agreements were acquired in conjunction with the ALLETE Clean Energy wind energy facilities acquisition on January 30, 2014. (See Note 4. Acquisition.)
NOTE 1. OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Continued)
Other Non-Current Liabilities | September 30, 2014 |  |  | December 31, 2013 |
Millions |  |  |
Asset Retirement Obligation |  | $94.6 |  |  |  | $81.8 |
Power Purchase Agreements (a) | 90.5 |  |  | — |
Other | 46.5 |  |  | 45.4 |
Total Other Non-Current Liabilities |  | $231.6 |  |  |  | $127.2 |
(a) | Power Purchase Agreements were acquired in conjunction with the ALLETE Clean Energy wind energy facilities acquisition on January 30, 2014. (See Note 4. Acquisition.)
Supplemental Statement of Cash Flows Information.
For the Nine Months Ended September 30, | 2014 |  |  | 2013 |
Millions |  |  |
Cash Paid During the Period for Interest – Net of Amounts Capitalized |  | $39.4 |  |  |  | $36.0 |
Cash Paid During the Period for Income Taxes |  | $2.8 |  |  |  | $0.6 |
Noncash Investing and Financing Activities |  |  |  |  |
Decrease in Accounts Payable for Capital Additions to Property, Plant and Equipment | $(6.5) |  | $(10.0)
Capitalized Asset Retirement Costs |  | $0.6 |  |  |  | $1.9 |
AFUDC – Equity |  | $5.9 |  |  |  | $3.4 |
ALLETE Common Stock Contributed to the Pension Plan |  | $19.5 |  |  | — |
Subsequent Events. The Company performed an evaluation of subsequent events for potential recognition and disclosure through the time of the financial statements issuance. New Accounting Standards. Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. In July 2013, the FASB issued an accounting standard update on the financial statement presentation of unrecognized tax benefits when an NOL carryforward, a similar tax loss, or a tax credit carryforward exists. An unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for an NOL carryforward, a similar tax loss, or a tax credit carryforward. To the extent an NOL carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position or the tax law does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This guidance was adopted in the first quarter of 2014, and did not have a material impact on our consolidated financial position, results of operations, or cash flows. Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. In April 2014, the FASB issued an accounting standard update modifying the criteria for determining which disposals should be presented as discontinued operations and modifying the related disclosure requirements. Additionally, the new guidance requires that a business which qualifies as held for sale upon acquisition should be reported as discontinued operations. The new guidance will be effective beginning in the first quarter of 2015, and will apply prospectively to new disposals and new classifications of disposal groups as held for sale. This guidance is not expected to have a material impact on our consolidated financial position, results of operations or cash flows. NOTE 1. OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Continued) Revenue from Contracts with Customers. In May 2014, the FASB issued amended revenue recognition guidance to clarify the principles for recognizing revenue from contracts with customers. The guidance requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. The guidance also requires expanded disclosures relating to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. Additionally, qualitative and quantitative disclosures are required regarding customer contracts, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This accounting guidance is effective for the Company beginning in the first quarter of 2017 using one of two prescribed retrospective methods. Early adoption is not permitted for public companies. The Company is evaluating the impact of the amended revenue recognition guidance on the Company’s consolidated financial statements.

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- Definition The entire disclosure for the general note to the financial statements for the reporting entity which may include, descriptions of the basis of presentation, business description, significant accounting policies, consolidations, reclassifications, new pronouncements not yet adopted and changes in accounting principles. + References No definition available. + Details
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