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BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Business Segments

									Three Months Ended
									March 31,
												2025			2024
Millions
Operating Revenue
Regulated Operations
Residential												$56.4			$51.5
Commercial												51.7			49.7
Municipal												9.6			9.0
Industrial												139.9			159.5
Other Power Suppliers												47.1			40.0
Other												28.1			28.6
Total Regulated Operations												332.8			338.3
ALLETE Clean Energy
Long-term PSA												15.0			17.8
Other												1.5			1.3
Total ALLETE Clean Energy												16.5			19.1
New Energy
Sale of Renewable Development Projects												18.2			13.9
Other												3.2			3.1
Total New Energy												21.4			17.0
Corporate and Other
Long-term Contract												26.1			25.4
Other												3.4			3.5
Total Corporate and Other												29.5			28.9
Total Operating Revenue												$400.2			$403.3
Net Income (Loss) Attributable to ALLETE
Regulated Operations												$38.4			$44.2
ALLETE Clean Energy												7.4			3.8
New Energy												9.2			4.0
Corporate and Other												1.1			(1.3)
Total Net Income Attributable to ALLETE												$56.1			$50.7

			March 31, 2025			December 31, 2024
Millions
Assets
Regulated Operations			$4,560.2			$4,489.4
ALLETE Clean Energy			1,464.2			1,477.4
New Energy			351.4			335.7
Corporate and Other			490.5			451.8
Total Assets			$6,866.3			$6,754.3

NOTE 10. BUSINESS SEGMENTS (Continued)

Three Months Ended March 31, 2025			Regulated Operations			ALLETE Clean Energy			New Energy			Total Reportable Segments			Corporate and Other / Eliminations			Consolidated
Millions
Contracts with Customers – Utility			$332.8			—			—			$332.8			—			$332.8
Contracts with Customers – Non-utility			—			$15.0			$21.4			36.4			$29.5			65.9
Other – Non-utility			—			1.5			—			1.5			—			1.5
Total Operating Revenue			332.8			16.5			21.4			370.7			29.5			400.2
Significant Segment Expenses:
Fuel, Purchased Power and Gas – Utility			123.3			—			—			123.3
Transmission Services – Utility			19.0			—			—			19.0
Cost of Sales – Non-utility			—			—			5.3			5.3
Operating and Maintenance			68.7			13.9			5.3			87.9
Depreciation and Amortization			50.7			14.4			0.7			65.8
Taxes Other than Income Taxes			14.3			2.7			—			17.0
Other Segment Items (a)			(18.4)			21.9			(0.9)			2.6
Net Income Attributable to ALLETE			$38.4			$7.4			$9.2			$55.0			$1.1			$56.1
Other Segment Information:
Depreciation and Amortization			$50.7			$14.4			$0.7			$65.8			$3.9			$69.7
Interest Expense			$(17.1)			—			$(0.7)			$(17.8)			$(3.6)			$(21.4)
Equity Earnings			$6.5			—			—			$6.5			$(0.5)			$6.0
Income Tax Expense (Benefit)			$10.2			$(3.5)			$0.1			$6.8			$0.7			$7.5
Assets			$4,560.2			$1,464.2			$351.4			$6,375.8			$490.5			$6,866.3
Equity Investment			$199.5			—			—			$199.5			$144.5			$344.0
Capital Expenditures			$134.3			$2.1			$7.4			$143.8			$1.4			$145.2

Three Months Ended March 31, 2024			Regulated Operations			ALLETE Clean Energy			New Energy			Total Reportable Segments			Corporate and Other / Eliminations			Consolidated
Millions
Contracts with Customers – Utility			$338.3			—			—			$338.3			—			$338.3
Contracts with Customers – Non-utility			—			$17.8			$17.0			34.8			$28.9			63.7
Other – Non-utility			—			1.3			—			1.3			—			1.3
Total Operating Revenue			338.3			19.1			17.0			374.4			28.9			403.3
Significant Segment Expenses:
Fuel, Purchased Power and Gas – Utility			133.7			—			—			133.7
Transmission Services – Utility			22.7			—			—			22.7
Cost of Sales – Non-utility			—			—			5.7			5.7
Operating and Maintenance			66.8			13.5			6.5			86.8
Depreciation and Amortization			46.4			14.1			0.5			61.0
Taxes Other than Income Taxes			15.7			2.6			—			18.3
Other Segment Items (a)			(8.8)			14.9			(0.3)			5.8
Net Income Attributable to ALLETE			$44.2			$3.8			$4.0			$52.0			($1.3)			$50.7
Other Segment Information:
Depreciation and Amortization			$46.4			$14.1			$0.5			$61.0			$4.0			$65.0
Interest Expense			$(16.0)			$(0.1)			$(1.8)			$(17.9)			$(2.5)			$(20.4)
Equity Earnings			$5.7			—			—			$5.7			$(0.2)			$5.5
Income Tax Expense (Benefit)			$4.9			$(5.5)			$1.5			$0.9			$3.1			$4.0
Assets			$4,345.1			$1,580.0			$295.9			$6,221.0			$383.6			$6,604.6
Equity Investment			$182.7			—			—			$182.7			$150.4			$333.1
Capital Expenditures			$49.5			$0.2			—			$49.7			$2.1			$51.8

(a)    Other Segment Items consist of interest expense, equity earnings, AFUDC – Equity and income tax expense for Regulated Operations, and interest expense, income tax benefit and net loss attributable to non-controlling interest for ALLETE Clean Energy and New Energy.

X

- 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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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

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- References

No definition available.

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