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OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheet that aggregate to the amounts presented in the Consolidated Statement of Cash Flows.

Cash, Cash Equivalents and Restricted Cash			June 30, 2025						December 31, 2024						June 30, 2024						December 31, 2023
Millions
Cash and Cash Equivalents			$55.4						$32.8						$37.5						$71.9
Restricted Cash included in Prepayments and Other			—						19.9						3.8						5.1
Restricted Cash included in Other Non-Current Assets			2.5						2.5						2.4						2.4
Cash, Cash Equivalents and Restricted Cash on the Consolidated Statement of Cash Flows			$57.9						$55.2						$43.7						$79.4

Schedule of Restrictions on Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheet that aggregate to the amounts presented in the Consolidated Statement of Cash Flows.

Cash, Cash Equivalents and Restricted Cash			June 30, 2025						December 31, 2024						June 30, 2024						December 31, 2023
Millions
Cash and Cash Equivalents			$55.4						$32.8						$37.5						$71.9
Restricted Cash included in Prepayments and Other			—						19.9						3.8						5.1
Restricted Cash included in Other Non-Current Assets			2.5						2.5						2.4						2.4
Cash, Cash Equivalents and Restricted Cash on the Consolidated Statement of Cash Flows			$57.9						$55.2						$43.7						$79.4

Schedule of Inventories – Net

Inventories in our ALLETE Clean Energy and New Energy segments as well as our Corporate and Other businesses are carried at an average cost, first-in, first-out or specific identification basis.

Inventories – Net			June 30, 2025						December 31, 2024
Millions
Fuel (a)			$23.8						$22.5
Materials and Supplies			125.3						107.6
Renewable Energy Facilities Under Development (b)			29.1						24.5
Total Inventories – Net			$178.2						$154.6

(a)    Fuel consists primarily of coal inventory at Minnesota Power.

(b)    Renewable Energy Facilities Under Development as of June 30, 2025, consists primarily of project costs related to renewable energy development projects at New Energy.

Schedule of Other Non-Current Assets

Other Non-Current Assets			June 30, 2025						December 31, 2024
Millions
Other Postretirement Benefit Plans			$103.0						$107.6
Contract Assets (a)			14.8						15.9
ALLETE Properties			9.1						10.3
Restricted Cash			2.5						2.5
Other			138.1						134.2
Total Other Non-Current Assets			$267.5						$270.5

(a)    Contract Assets consist of payments made to customers as an incentive to execute or extend service agreements. The payments are being amortized over the term of the respective agreements as a reduction to revenue.

Schedule of Other Current Liabilities

Other Current Liabilities			June 30, 2025						December 31, 2024
Millions
Provision for Interim Rate Refund			—						$23.0
Customer Deposits			$9.0						7.8
PSAs			5.8						5.9
Other			66.9						81.2
Total Other Current Liabilities			$81.7						$117.9

Schedule of Other Non-Current Liabilities

Other Non-Current Liabilities			June 30, 2025						December 31, 2024
Millions
Asset Retirement Obligation (a)			$263.3						$261.3
PSAs			12.2						15.1
Other			35.9						36.4
Total Other Non-Current Liabilities			$311.4						$312.8

(a)The asset retirement obligation is primarily related to our Regulated Operations and is funded through customer rates over the life of the related assets. Additionally, BNI Energy funds its obligation through its cost-plus coal supply agreements for which BNI Energy has recorded a receivable of $42.3 million in Other Non-Current Assets on the Consolidated Balance Sheet as of June 30, 2025 ($42.3 million as of December 31, 2024).

Schedule of Other Income (Expense)

			Quarter Ended									Six Months Ended
			June 30,									June 30,
Other Income (Expense)			2025			2024						2025			2024
Millions
Pension and Other Postretirement Benefit Plan Non-Service Credits (a)			$1.5			$3.7						$3.3			$8.0
Interest and Investment Income			2.5			0.8						4.4			2.7
AFUDC - Equity			1.3			1.3						2.7			2.5
Other Income (Expense)			(0.1)			0.1						(0.6)			1.3
Total Other Income			$5.2			$5.9						$9.8			$14.5

(a)These are components of net periodic pension and other postretirement benefit cost other than service cost. (See Note 9. Pension and Other Postretirement Benefit Plans.)

Schedule of Supplemental Statement of Cash Flows Information

			Six Months Ended
			June 30,
Supplemental Statement of Cash Flows Information			2025			2024
Millions
Cash Paid for Interest – Net of Amounts Capitalized			$40.5			$36.8
Cash Paid for Income Taxes – Net			$11.1			$5.7
Noncash Investing and Financing Activities
Increase in Accounts Payable for Capital Additions to Property, Plant and Equipment			$13.6			$5.8
Capitalized Asset Retirement Costs			$2.6			$50.0
AFUDC–Equity			$2.7			$2.5

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