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v3.23.3

Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Business Segments | We also present Corporate and Other which includes New Energy, a renewable energy development company, BNI Energy, our coal mining operations in North Dakota, 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 10. BUSINESS SEGMENTS (Continued)
| Quarter Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2023 | 2022 |  | 2023 | 2022
Millions |  |  |  |  |
Operating Revenue |  |  |  |  |
Regulated Operations |  |  |  |  |
Residential | $37.9 |  | $40.1 |  |  | $123.3 |  | $136.7 |
Commercial | 49.2 |  | 49.0 |  |  | 140.9 |  | 141.7 |
Municipal | 8.7 |  | 9.8 |  |  | 25.2 |  | 31.9 |
Industrial | 154.3 |  | 147.3 |  |  | 439.4 |  | 445.7 |
Other Power Suppliers | 31.0 |  | 46.7 |  |  | 103.2 |  | 124.6 |
Other | 33.2 |  | 29.7 |  |  | 87.1 |  | 79.7 |
Total Regulated Operations | 314.3 |  | 322.6 |  |  | 919.1 |  | 960.3 |
ALLETE Clean Energy |  |  |  |  |
Long-term PSA | 12.9 |  | 14.4 |  |  | 44.5 |  | 58.7 |
Sale of Wind Energy Facilities | — |  | — |  |  | 348.4 |  | — |
Other | 1.3 |  | 1.2 |  |  | 3.9 |  | 6.3 |
Total ALLETE Clean Energy | 14.2 |  | 15.6 |  |  | 396.8 |  | 65.0 |
Corporate and Other |  |  |  |  |
Long-term Contract | 24.6 |  | 23.5 |  |  | 74.0 |  | 67.5 |
Sale of Renewable Development Projects | 20.8 |  | 22.1 |  |  | 73.2 |  | 36.6 |
Other | 4.9 |  | 4.5 |  |  | 14.0 |  | 15.5 |
Total Corporate and Other | 50.3 |  | 50.1 |  |  | 161.2 |  | 119.6 |
Total Operating Revenue | $378.8 |  | $388.3 |  |  | $1,477.1 |  | $1,144.9 |
Net Income (Loss) Attributable to ALLETE |  |  |  |  |
Regulated Operations | $34.0 |  | $38.3 |  |  | $112.4 |  | $119.4 |
ALLETE Clean Energy (a) | 54.8 |  | (7.3) |  |  | 66.4 |  | 15.0 |
Corporate and Other (b) | (2.9) |  | 2.7 |  |  | 16.8 |  | 3.2 |
Total Net Income Attributable to ALLETE | $85.9 |  | $33.7 |  |  | $195.6 |  | $137.6 |
(a)Net income in 2023 includes a $44.3 million after-tax gain recognized for a favorable arbitration ruling. (See Note 6. Commitments, Guarantees and Contingencies.) (b)Net income in 2023 includes a $3.8 million after-tax expense recognized for the consolidated income tax impact of the gain on arbitration. (See Note 6. Commitments, Guarantees and Contingencies.) 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, 2023 | December 31, 2022
Millions |  |
Assets |  |
Regulated Operations | $4,272.4 |  | $4,291.4 |
ALLETE Clean Energy | 1,599.7 |  | 1,873.3 |
Corporate and Other | 772.7 |  | 680.9 |
Total Assets | $6,644.8 |  | $6,845.6 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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