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EQUITY INVESTMENTS (Tables) | 6 Months Ended
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Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of 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, 2024 | $194.4 |
Cash Investments | 11.3 |
Equity in ATC Earnings | 12.9 |
Distributed ATC Earnings | (12.3) |
Amortization of the Remeasurement of Deferred Income Taxes | 0.6 |
Equity Investment Balance as of June 30, 2025 | $206.9 |
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, 2024 | $145.7 |
Equity in Nobles 2 Earnings (a) | (1.0) |
Distributed Nobles 2 Earnings | (1.1) |
Equity Investment Balance as of June 30, 2025 | $143.6 |
(a)The Company also recorded earnings from net loss attributable to non-controlling interest of $7.3 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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