Company research
ALLETE INC
CIK 66756Updated Sep 26, 2026
Name history
ALLETE · through Jan 25, 2001MINNESOTA POWER INC · through Jul 21, 2000MINNESOTA POWER & LIGHT CO · through May 8, 1998
Filing activity
Latest filing
50 filings on record · 15-12G, 4, S-8 POS, POSASR, 8-K, 25-NSE.
Financials
FY 2024 · USDSource
Source
Source
Source
Source
balance sheet · annual statements
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 6,754,300,000Source | 6,656,400,000Source | 6,845,600,000Source | 6,435,000,000Source |
| Property, Plant and Equipment, NetUSD | 5,181,500,000Source | 5,013,400,000Source | 5,004,000,000Source | 5,100,200,000Source |
| GoodwillUSD | 154,900,000Source | 154,900,000Source | 154,900,000Source | — |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 32,800,000Source | 71,900,000Source | 36,400,000Source | 45,100,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 141,400,000Source | 129,000,000Source | 134,700,000Source | 123,700,000Source |
| Inventory, NetUSD | 154,600,000Source | 175,400,000Source | 455,900,000Source | 97,700,000Source |
| Assets, CurrentUSD | 435,200,000Source | 468,100,000Source | 718,000,000Source | 291,300,000Source |
| Operating Lease, Right-of-Use AssetUSD | 9,100,000Source | 10,700,000Source | 12,700,000Source | 16,400,000Source |
| Other Assets, NoncurrentUSD | 270,500,000Source | 262,900,000Source | 204,300,000Source | 213,700,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 3,363,800,000Source | 3,249,300,000Source | 3,497,300,000Source | 3,488,700,000Source |
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | 1,823,200,000Source | 1,803,700,000Source | 1,781,500,000Source | 1,536,700,000Source |
| Retained Earnings (Accumulated Deficit)USD | 1,042,900,000Source | 1,026,400,000Source | 934,800,000Source | 900,200,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -18,100,000Source | -20,500,000Source | -24,400,000Source | -23,800,000Source |
| Stockholders' Equity Attributable to ParentUSD | 2,848,000,000Source | 2,809,600,000Source | 2,691,900,000Source | 2,413,100,000Source |
| Liabilities and EquityUSD | 6,754,300,000Source | 6,656,400,000Source | 6,845,600,000Source | 6,435,000,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 404,200,000Source | 377,600,000Source | 716,200,000Source | 543,400,000Source |
| Operating Lease, Liability, CurrentUSD | 3,200,000Source | 3,000,000Source | 3,200,000Source | 4,800,000Source |
| Accounts Payable, CurrentUSD | 113,600,000Source | 102,200,000Source | 103,000,000Source | 111,000,000Source |
| Operating Lease, Liability, NoncurrentUSD | 6,000,000Source | 7,700,000Source | 9,300,000Source | 11,600,000Source |
| Deferred Income Tax Liabilities, NetUSD | 253,400,000Source | 192,700,000Source | 158,100,000Source | 185,700,000Source |
| Other Liabilities, NoncurrentUSD | 312,800,000Source | 264,300,000Source | 269,000,000Source | 280,800,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 542,100,000Source | 597,000,000Source | 656,400,000Source | 533,200,000Source |
| Additional Financial Items | ||||
| Deferred Tax Liabilities, NetUSD | 253,400,000Source | 192,700,000Source | 158,100,000Source | 185,700,000Source |
| Long-term Debt, Excluding Current Maturities | — | — | — | — |
| Long-term Debt, Current MaturitiesUSD | 94,700,000Source | 111,400,000Source | 272,600,000Source | 214,200,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 1,704,700,000Source | 1,679,900,000Source | 1,648,200,000Source | 1,763,200,000Source |
cash flow · annual statements
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 121,700,000Source | 178,900,000Source | 131,300,000Source | 137,800,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 271,500,000Source | 251,800,000Source | 242,200,000Source | 231,700,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 6,600,000Source | 7,300,000Source | 4,900,000Source | 5,900,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in InventoriesUSD | -7,500,000Source | -277,100,000Source | 256,100,000Source | 23,500,000Source |
| Increase (Decrease) in Accounts PayableUSD | -2,700,000Source | -4,000,000Source | -1,300,000Source | 15,000,000Source |
| Deferred Income Tax Expense (Benefit)USD | -15,800,000Source | 17,600,000Source | -38,500,000Source | -26,900,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 457,100,000Source | 585,300,000Source | 221,300,000Source | 263,500,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 0Source | 0Source | 155,000,000Source | — |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -340,700,000Source | -283,600,000Source | -384,000,000Source | -485,200,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | -20,400,000Source | 4,000,000Source | 2,400,000Source | -2,900,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 354,900,000Source | 271,200,000Source | 220,500,000Source | 473,300,000Source |
| Cash flows from financing activities: | ||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -140,600,000Source | -262,500,000Source | 155,200,000Source | 204,200,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 162,800,000Source | 155,500,000Source | 145,900,000Source | 131,900,000Source |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | -1,900,000Source | -1,500,000Source | -2,900,000Source | -4,800,000Source |
| Repayments of Long-term DebtUSD | 649,400,000Source | 566,700,000Source | 877,000,000Source | 552,900,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 55,200,000Source | 79,400,000Source | 40,200,000Source | 47,700,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 75,100,000Source | 80,500,000Source | 72,800,000Source | 66,800,000Source |
| Income Taxes Paid, NetUSD | 19,100,000Source | 19,500,000Source | 6,000,000Source | — |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 2,700,000Source | 3,900,000Source | 1,600,000Source | 3,000,000Source |
| Asset Retirement Obligation, Accretion ExpenseUSD | 13,100,000Source | 10,300,000Source | 9,500,000Source | 8,800,000Source |
| Deferred Other Tax Expense (Benefit)USD | -700,000Source | -400,000Source | -500,000Source | -500,000Source |
| DepreciationUSD | 271,300,000Source | 251,700,000Source | 242,000,000Source | 231,600,000Source |
| Gain (Loss) on Disposition of BusinessUSD | — | — | — | 0Source |
| Gain (Loss) on Disposition of Other AssetsUSD | 0Source | 0Source | -1,200,000Source | 800,000Source |
| GoodwillUSD | 154,900,000Source | 154,900,000Source | 154,900,000Source | — |
| Income (Loss) from Equity Method InvestmentsUSD | 25,000,000Source | 21,700,000Source | 18,700,000Source | 20,000,000Source |
| Income (Loss) from Equity Method Investments, Net of Dividends or DistributionsUSD | 1,800,000Source | -1,000,000Source | -2,400,000Source | -2,200,000Source |
| Income Tax Expense (Benefit)USD | 4,700,000Source | 27,900,000Source | -31,200,000Source | -26,900,000Source |
| InterestExpenseNonoperatingUSD | 81,700,000Source | — | — | — |
| Net Income (Loss) Attributable to ParentUSD | 179,300,000Source | 247,100,000Source | 189,300,000Source | 169,200,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -57,600,000Source | -68,200,000Source | -58,000,000Source | -31,400,000Source |
| Nonoperating Income (Expense)USD | -33,700,000Source | 25,900,000Source | -34,100,000Source | -40,400,000Source |
| Other Depreciation and AmortizationUSD | 6,900,000Source | 7,100,000Source | 8,300,000Source | 9,900,000Source |
| Other Nonoperating Income (Expense)USD | 23,000,000Source | 85,000,000Source | 22,400,000Source | 8,700,000Source |
| Proceeds from Issuance of Common StockUSD | 12,900,000Source | 14,900,000Source | 248,000,000Source | 69,900,000Source |
| Proceeds from Issuance of Long-term DebtUSD | 658,000,000Source | 437,000,000Source | 785,400,000Source | 733,000,000Source |
| Proceeds from Noncontrolling InterestsUSD | 4,100,000Source | 17,800,000Source | 155,700,000Source | 90,900,000Source |
income statement · annual statements
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|
| Total RevenueUSD | 1,529,800,000Source | 1,879,800,000Source | 1,570,700,000Source | 1,419,200,000Source |
| Cost of RevenueUSD | 129,200,000Source | 473,500,000Source | 182,800,000Source | 68,800,000Source |
| Gross Profit (Calculated) · Derived | — | — | — | — |
| Operating Income (Loss)USD | 160,100,000Source | 180,900,000Source | 134,200,000Source | 151,300,000Source |
| Other Nonoperating Income (Expense)USD | 23,000,000Source | 85,000,000Source | 22,400,000Source | 8,700,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 126,400,000Source | 206,800,000Source | 100,100,000Source | 110,900,000Source |
| Income Tax Expense (Benefit)USD | 4,700,000Source | 27,900,000Source | -31,200,000Source | -26,900,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -57,600,000Source | -68,200,000Source | -58,000,000Source | -31,400,000Source |
| Net Income (Loss) Attributable to ParentUSD | 179,300,000Source | 247,100,000Source | 189,300,000Source | 169,200,000Source |
| Earnings Per Share, BasicUSD per share | 3.11Source | 4.31Source | 3.38Source | 3.23Source |
| Earnings Per Share, DilutedUSD per share | 3.1Source | 4.3Source | 3.38Source | 3.23Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 57,700,000Source | 57,300,000Source | 55,900,000Source | 52,400,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 57,800,000Source | 57,400,000Source | 56,000,000Source | 52,500,000Source |
| Interest Expense (non-operating)USD | 81,700,000Source | — | — | — |
| Additional Financial Items | ||||
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 2.82Source | 2.71Source | 2.6Source | 2.52Source |
| Costs and ExpensesUSD | 1,369,700,000Source | 1,698,900,000Source | 1,436,500,000Source | 1,267,900,000Source |
| Current Income Tax Expense (Benefit)USD | 20,500,000Source | 10,300,000Source | 7,300,000Source | 0Source |
| Income (Loss) from Equity Method InvestmentsUSD | 25,000,000Source | 21,700,000Source | 18,700,000Source | 20,000,000Source |
| Interest ExpenseUSD | — | 80,800,000Source | 75,200,000Source | 69,100,000Source |
| Nonoperating Income (Expense)USD | -33,700,000Source | 25,900,000Source | -34,100,000Source | -40,400,000Source |
| Other General and Administrative ExpenseUSD | — | 345,300,000Source | 318,900,000Source | 259,200,000Source |
| Revenue Not from Contract with Customer, OtherUSD | 5,000,000Source | 5,100,000Source | 7,600,000Source | 11,400,000Source |