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v3.22.1

Operations and Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Cash, Cash Equivalents and Restricted Cash [Table Text Block] | The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheet that aggregate to the amounts presented in the Consolidated Statement of Cash Flows.
Cash, Cash Equivalents and Restricted Cash | March 31, 2022 |  | December 31, 2021 |  | March 31, 2021 |  | December 31, 2020
Millions |  |  |  |  |  |  |
Cash and Cash Equivalents | $60.1 |  |  | $45.1 |  |  | $159.0 |  |  | $44.3 |
Restricted Cash included in Prepayments and Other | 7.1 |  |  | 0.3 |  |  | 7.1 |  |  | 0.8 |
Restricted Cash included in Other Non-Current Assets | 7.8 |  |  | 2.3 |  |  | 10.9 |  |  | 20.1 |
Cash, Cash Equivalents and Restricted Cash on the Consolidated Statement of Cash Flows | $75.0 |  |  | $47.7 |  |  | $177.0 |  |  | $65.2 |
Inventories – Net [Table Text Block] |
Inventories – Net | March 31, 2022 |  | December 31, 2021
Millions |  |  |
Fuel (a) | $17.4 |  |  | $18.7 |
Materials and Supplies | 60.0 |  |  | 56.1 |
Construction of Wind Energy Facilities (b) | 119.2 |  |  | 22.9 |
Total Inventories – Net | $196.6 |  |  | $97.7 |
(a) Fuel consists primarily of coal inventory at Minnesota Power. (b) Project costs related to ALLETE Clean Energy’s Northern Wind and Red Barn wind projects which are expected to be sold in late 2022 and 2023, respectively. (See Other Current Liabilities.)
Other Non-Current Assets [Table Text Block] |
Other Non-Current Assets | March 31, 2022 |  | December 31, 2021
Millions |  |  |
Contract Assets (a) | $22.7 |  |  | $23.3 |
Operating Lease Right-of-use Assets | 15.4 |  |  | 16.4 |
ALLETE Properties | 19.4 |  |  | 19.4 |
Restricted Cash | 7.8 |  |  | 2.3 |
Other Postretirement Benefit Plans | 65.4 |  |  | 64.8 |
Other | 81.7 |  |  | 87.5 |
Total Other Non-Current Assets | $212.4 |  |  | $213.7 |
(a) Contract Assets consist of payments made to customers as an incentive to execute or extend service agreements. The contract payments are being amortized over the term of the respective agreements as a reduction to revenue.
Other Current Liabilities [Table Text Block] |
Other Current Liabilities | March 31, 2022 |  | December 31, 2021
Millions |  |  |
Customer Deposits (a) | $28.9 |  |  | $27.2 |
PSAs | 12.6 |  |  | 12.6 |
Manufactured Gas Plant (b) | 1.9 |  |  | 12.8 |
Fuel Adjustment Clause | 4.1 |  |  | 5.0 |
Operating Lease Liabilities | 4.4 |  |  | 4.8 |
Redeemable Non-Controlling Interest (c) | — |  |  | 30.6 |
Other | 56.9 |  |  | 40.0 |
Total Other Current Liabilities | $108.8 |  |  | $133.0 |
(a) Primarily related to deposits received by ALLETE Clean Energy for the Northern Wind and Red Barn wind projects which are expected to be sold in late 2022 and 2023, respectively. (See Inventories – Net.) (b) The manufactured gas plant represents the current liability for remediation of a former manufactured gas plant site located in Superior, Wisconsin, and formerly operated by SWL&P. (c) Amount reclassified from Non-Controlling Interest in Subsidiaries resulting from the exercise of an option to buy out a non-controlling interest, which was paid in the first quarter of 2022.
Other Non-Current Liabilities [Table Text Block] |
Other Non-Current Liabilities | March 31, 2022 |  | December 31, 2021
Millions |  |  |
Asset Retirement Obligation (a) | $189.1 |  |  | $184.5 |
PSAs | 36.3 |  |  | 39.5 |
Manufactured Gas Plant (b) | 16.1 |  |  | 5.2 |
Operating Lease Liabilities | 10.9 |  |  | 11.6 |
Other | 35.2 |  |  | 40.0 |
Total Other Non-Current Liabilities | $287.6 |  |  | $280.8 |
(a)The asset retirement obligation is primarily related to our Regulated Operations and is funded through customer rates over the life of the related assets. Additionally, BNI Energy funds its obligation through its cost-plus coal supply agreements for which BNI Energy has recorded a receivable of $28.5 million in Other Non-Current Assets on the Consolidated Balance Sheet as of March 31, 2022, ($28.5 million as of December 31, 2021). (b)The manufactured gas plant represents the non-current liability for remediation of a former manufactured gas plant site located in Superior, Wisconsin, and formerly operated by SWL&P.
Other Income [Table Text Block] |
Other Income |  |
Three Months Ended March 31, | 2022 | 2021
Millions |  |
Pension and Other Postretirement Benefit Plan Non-Service Credits (a) | $2.6 |  | $1.9 |
Interest and Investment Income | 0.1 |  | 1.1 |
AFUDC - Equity | 0.9 |  | 0.5 |
Other | (1.6) |  | (0.2) |
Total Other Income | $2.0 |  | $3.3 |
(a)These are components of net periodic pension and other postretirement benefit cost other than service cost. (See Note 9. Pension and Other Postretirement Benefit Plans.)
Supplemental Statement of Cash Flows Information [Table Text Block] | Supplemental Statement of Cash Flows Information.
Three Months Ended March 31, | 2022 |  | 2021
Millions |  |  |
Cash Paid for Interest – Net of Amounts Capitalized | $22.4 |  | $21.2
Noncash Investing and Financing Activities |  |  |
Increase (Decrease) in Accounts Payable for Capital Additions to Property, Plant and Equipment | $(24.5) |  | $5.6
Capitalized Asset Retirement Costs | $3.0 |  | $3.5
AFUDC–Equity | $0.9 |  | $0.5

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