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Equity Investments (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Equity Investments |
ALLETE’s Investment in ATC |  |
Year Ended December 31 | 2024 | 2023
Millions |  |
Equity Investment Beginning Balance | $179.7 |  | $165.4 |
Cash Investments | 5.8 |  | 8.2 |
Equity in ATC Earnings | 26.5 |  | 23.1 |
Distributed ATC Earnings | (18.9) |  | (18.3) |
Amortization of the Remeasurement of Deferred Income Taxes | 1.3 |  | 1.3 |
Equity Investment Ending Balance | $194.4 |  | $179.7 |
ATC Summarized Financial Data |  |
Balance Sheet Data |  |
As of December 31 | 2024 | 2023
Millions |  |
Current Assets | $126.6 |  | $115.2 |
Non-Current Assets | 6,792.6 |  | 6,337.0 |
Total Assets | $6,919.2 |  | $6,452.2 |
Current Liabilities | $482.4 |  | $495.9 |
Long-Term Debt | 3,083.4 |  | 2,736.0 |
Other Non-Current Liabilities | 545.0 |  | 585.2 |
Members’ Equity | 2,808.4 |  | 2,635.1 |
Total Liabilities and Members’ Equity | $6,919.2 |  | $6,452.2 |
Income Statement Data |  |  |
Year Ended December 31 | 2024 | 2023 | 2022
Millions |  |  |
Revenue | $911.3 |  | $818.9 |  | $751.2 |
Operating Expense | 442.3 |  | 407.6 |  | 381.5 |
Other Expense | 137.8 |  | 131.7 |  | 122.9 |
Net Income | $331.2 |  | $279.6 |  | $246.8 |
ALLETE’s Equity in Net Income | $26.5 |  | $23.1 |  | $19.3 |
ALLETE’s Investment in Nobles 2 |  |
Millions |  |
Equity Investment Balance as of December 31, 2023 | $151.5 |  |
Equity in Nobles 2 Earnings (a) | (1.5) |  |
Distributed Nobles 2 Earnings | (4.3) |  |
Equity Investment Balance as of December 31, 2024 | $145.7 |  |
(a)The Company also recorded net loss attributable to non-controlling interest of $11.7 million related to its investment in Nobles 2.

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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 + Details
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