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Equity Investments (Tables)

9 Months Ended

Sep. 30, 2023

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

We account for our investment in ATC under the equity method of accounting.

ALLETE’s Investment in ATC
Millions
Equity Investment Balance as of December 31, 2022			$165.4
Cash Investments			6.6
Equity in ATC Earnings			17.3
Distributed ATC Earnings			(13.8)
Amortization of the Remeasurement of Deferred Income Taxes			1.0
Equity Investment Balance as of September 30, 2023			$176.5

We account for our investment in Nobles 2 under the equity method of accounting.

ALLETE’s Investment in Nobles 2
Millions
Equity Investment Balance as of December 31, 2022			$157.3
Equity in Nobles 2 Earnings (a)			(1.2)
Distributed Nobles 2 Earnings			(2.9)
Equity Investment Balance as of September 30, 2023			$153.2

(a)The Company also recorded earnings from net loss attributable to non-controlling interest of $7.2 million related to its investment in Nobles 2.

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- References

No definition available.

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- Definition

Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

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