Equity Investments (Tables)

12 Months Ended

Dec. 31, 2022

ATC [Member]

Equity Investments [Line Items]

Equity Investments [Table Text Block]

ALLETE’s Investment in ATC
Year Ended December 31	2022	2021
Millions
Equity Investment Beginning Balance	$154.5	$149.0
Cash Investments	5.9	—
Equity in ATC Earnings	19.3	21.3
Distributed ATC Earnings	(15.5)	(17.2)
Amortization of the Remeasurement of Deferred Income Taxes	1.2	1.4
Equity Investment Ending Balance	$165.4	$154.5

ATC Summarized Financial Data
Balance Sheet Data
As of December 31	2022	2021
Millions
Current Assets	$89.6	$89.8
Non-Current Assets	5,997.8	5,628.1
Total Assets	$6,087.4	$5,717.9
Current Liabilities	$511.9	$436.9
Long-Term Debt	2,613.0	2,513.0
Other Non-Current Liabilities	485.8	422.0
Members’ Equity	2,476.7	2,346.0
Total Liabilities and Members’ Equity	$6,087.4	$5,717.9

Income Statement Data
Year Ended December 31	2022	2021	2020
Millions
Revenue	$751.2	$754.8	$758.1
Operating Expense	381.5	376.2	372.4
Other Expense	122.9	113.9	110.9
Net Income	$246.8	$264.7	$274.8
ALLETE’s Equity in Net Income	$19.3	$21.3	$22.3

Nobles 2 [Member]

Equity Investments [Line Items]

Equity Investments [Table Text Block]

ALLETE’s Investment in Nobles 2
Millions
Equity Investment Balance as of December 31, 2021	$163.5
Equity in Nobles 2 Earnings (a)	(0.6)
Distributed Nobles 2 Earnings	(5.6)
Equity Investment Balance as of December 31, 2022	$157.3

(a)The Company also recorded net loss attributable to non-controlling interest of $10.6 million related to its investment in Nobles 2