XML 33 R20.htm IDEA: XBRL DOCUMENT v3.22.2.2
Business Segments
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Business Segments [Text Block] BUSINESS SEGMENTS
We present two reportable segments: Regulated Operations and ALLETE Clean Energy. We measure performance of our operations through budgeting and monitoring of contributions to consolidated net income by each business segment.

Regulated Operations includes three operating segments which consist of our regulated utilities, Minnesota Power and SWL&P, as well as our investment in ATC. ALLETE Clean Energy is our business focused on developing, acquiring and operating clean and renewable energy projects. We also present Corporate and Other which includes BNI Energy, our coal mining operations in North Dakota, New Energy, a renewable energy development company, ALLETE Properties, our legacy Florida real estate investment, along with our investment in Nobles 2, South Shore Energy, our non-rate regulated, Wisconsin subsidiary developing NTEC, other business development and corporate expenditures, unallocated interest expense, a small amount of non-rate base generation, land holdings in Minnesota, and earnings on cash and investments.
NOTE 11. BUSINESS SEGMENTS (Continued)

Quarter EndedNine Months Ended
September 30,September 30,
 2022202120222021
Millions
Operating Revenue
Regulated Operations
Residential$40.1 $37.0 $136.7 $118.0 
Commercial49.0 44.3 141.7 124.7 
Municipal9.8 14.4 31.9 38.5 
Industrial147.3 139.7 445.7 407.8 
Other Power Suppliers46.7 41.2 124.6 116.9 
Other29.7 28.2 79.7 82.3 
Total Regulated Operations322.6 304.8 960.3 888.2 
ALLETE Clean Energy
Long-term PSA14.4 14.0 58.7 50.8 
Other1.2 2.9 6.3 8.6 
Total ALLETE Clean Energy15.6 16.9 65.0 59.4 
Corporate and Other
Long-term Contract23.5 20.3 67.5 63.4 
Sale of Renewable Development Projects22.1 — 36.6 — 
Other4.5 3.4 15.5 9.2 
Total Corporate and Other50.1 23.7 119.6 72.6 
Total Operating Revenue$388.3 $345.4 $1,144.9 $1,020.2 
Net Income (Loss) Attributable to ALLETE  
Regulated Operations$38.3 $32.9 $119.4 $99.4 
ALLETE Clean Energy(7.3)(0.8)15.0 11.7 
Corporate and Other (a)
2.7 (4.5)3.2 (3.8)
Total Net Income Attributable to ALLETE$33.7 $27.6 $137.6 $107.3 
(a)Net Income in 2022 includes a $5.7 million after-tax expense as a result of purchase price accounting related to projects under development at the time of acquisition and $2.6 million after-tax of transaction costs related to the acquisition of New Energy.

September 30,
2022
December 31,
2021
Millions
Assets
Regulated Operations $4,307.3 $4,289.4 
ALLETE Clean Energy 1,893.2 1,719.4 
Corporate and Other657.5 426.2 
Total Assets $6,858.0 $6,435.0