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EQUITY INVESTMENTS (Tables)

6 Months Ended

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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- References

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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.

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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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