-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HMoL+SQbuo/Zx5SgZx77Fw08S/UywueHM2XaGbbIYi8y2DT1MleioHpzFQoBRx5E E8roEIxpn9ZI1A576kHyDg== 0000066756-11-000029.txt : 20110216 0000066756-11-000029.hdr.sgml : 20110216 20110216080328 ACCESSION NUMBER: 0000066756-11-000029 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 24 CONFORMED PERIOD OF REPORT: 20101231 FILED AS OF DATE: 20110216 DATE AS OF CHANGE: 20110216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLETE INC CENTRAL INDEX KEY: 0000066756 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 410418150 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03548 FILM NUMBER: 11616039 BUSINESS ADDRESS: STREET 1: 30 W SUPERIOR ST CITY: DULUTH STATE: MN ZIP: 55802-2093 BUSINESS PHONE: 2182795000 MAIL ADDRESS: STREET 1: 30 W SUPERIOR STREET CITY: DULUTH STATE: MN ZIP: 55802-2093 FORMER COMPANY: FORMER CONFORMED NAME: ALLETE DATE OF NAME CHANGE: 20000901 FORMER COMPANY: FORMER CONFORMED NAME: MINNESOTA POWER INC DATE OF NAME CHANGE: 19980603 FORMER COMPANY: FORMER CONFORMED NAME: MINNESOTA POWER & LIGHT CO DATE OF NAME CHANGE: 19920703 10-K 1 allete2010_10k.htm ALLETE, INC. 2010 10-K allete2010_10k.htm
United States
Securities and Exchange Commission
Washington, D.C. 20549

Form 10-K

(Mark One)
 
 
x
Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
For the fiscal year ended December 31, 2010

 
¨
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
For the transition period from ______________ to ______________

Commission File No. 1-3548

 
ALLETE, Inc.
 
(Exact name of registrant as specified in its charter)

Minnesota
 
41-0418150
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)


30 West Superior Street, Duluth, Minnesota 55802-2093
 
 (Address of principal executive offices, including zip code)

(218) 279-5000
 
(Registrant’s telephone number, including area code)

Securities Registered Pursuant to Section 12(b) of the Act:

Title of Each Class
 
Name of Each Stock Exchange on Which Registered
Common Stock, without par value
 
New York Stock Exchange

Securities Registered Pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
 
Yes x                      No ¨

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
 
Yes ¨                      No x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
 
Yes x                      No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
 
Yes x                      No ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company (as defined in Rule 12b-2 of the Act).
Large Accelerated Filer x
Accelerated Filer ¨
Non-Accelerated Filer ¨
Smaller Reporting Company ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).
 
Yes ¨                      No x

The aggregate market value of voting stock held by nonaffiliates on June 30, 2010, was $1,214,198,439.

As of February 1, 2011, there were 35,820,559 shares of ALLETE Common Stock, without par value, outstanding.

Documents Incorporated By Reference

Portions of the Proxy Statement for the 2011 Annual Meeting of Shareholders are incorporated by reference in Part III.

 
 
 

 

Index

Definitions
3
   
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
5
   
Part I
 
Item 1.
Business
6
 
Regulated Operations
6
   
Electric Sales / Customers
6
   
Power Supply
9
   
Transmission and Distribution
11
   
Investment in ATC
11
   
Properties
11
   
Regulatory Matters
12
   
Regional Organizations
14
   
Minnesota Legislation
14
   
Competition
14
   
Franchises
15
 
Investments and Other
15
   
BNI Coal
15
   
ALLETE Properties
15
   
Non-Rate Base Generation
16
   
Other
16
 
Environmental Matters
16
 
Employees
20
 
Availability of Information
20
 
Executive Officers of the Registrant
21
Item 1A.
Risk Factors
22
Item 1B.
Unresolved Staff Comments
25
Item 2.
Properties
25
Item 3.
Legal Proceedings
25
Item 4.
Removed and Reserved
25
Part II
 
Item 5.
Market for Registrant’s Common Equity, Related Stockholder Matters and
Issuer Purchases of Equity Securities
26
Item 6.
Selected Financial Data
27
Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
28
 
Overview
28
 
2010 Compared to 2009
29
 
2009 Compared to 2008
31
 
Critical Accounting Estimates
33
 
Outlook
34
 
Liquidity and Capital Resources
39
 
Capital Requirements
42
 
Environmental and Other Matters
42
 
Market Risk
42
 
Recently Adopted Accounting Standards
43
Item 7A.
Quantitative and Qualitative Disclosures about Market Risk
43
Item 8.
Financial Statements and Supplementary Data
43
Item 9.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
43
Item 9A.
Controls and Procedures
44
Item 9B.
Other Information
44
Part III
 
Item 10.
Directors, Executive Officers and Corporate Governance
45
Item 11.
Executive Compensation
45
Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
45
Item 13.
Certain Relationships and Related Transactions, and Director Independence
45
Item 14.
Principal Accounting Fees and Services
45
Part IV
   
Item 15.
Exhibits and Financial Statement Schedules
46
   
Signatures
50
   
Consolidated Financial Statements
53

ALLETE 2010 Form 10-K
2
 

 

Definitions

The following abbreviations or acronyms are used in the text. References in this report to “we,” “us” and “our” are to ALLETE, Inc. and its subsidiaries, collectively.

Abbreviation or Acronym
Term
ALLETE
ALLETE, Inc.
ALLETE Properties
ALLETE Properties, LLC and its subsidiaries
AFUDC
Allowance for Funds Used During Construction - the cost of both debt and equity funds used to finance utility plant additions during construction periods
ARS
Auction Rate Securities
ATC
American Transmission Company LLC
Basin
Basin Electric Power Cooperative
Bison 1
Bison 1 Wind Project
Bison 2
Bison 2 Wind Project
BNI Coal
BNI Coal, Ltd.
Boswell
Boswell Energy Center
CO2
Carbon Dioxide
Company
ALLETE, Inc. and its subsidiaries
DC
Direct Current
EPA
Environmental Protection Agency
ESOP
Employee Stock Ownership Plan
FASB
Financial Accounting Standards Board
FERC
Federal Energy Regulatory Commission
Form 8-K
ALLETE Current Report on Form 8-K
Form 10-K
ALLETE Annual Report on Form 10-K
Form 10-Q
ALLETE Quarterly Report on Form 10-Q
FTR
Financial Transmission Rights
GAAP
Accounting Principles Generally Accepted in the United States
GHG
Greenhouse Gases
Hibbard
Hibbard Renewable Energy Center
IBEW Local 31
International Brotherhood of Electrical Workers Local 31
IBEW Local 1593
International Brotherhood of Electrical Workers Local 1593
Invest Direct
ALLETE’s Direct Stock Purchase and Dividend Reinvestment Plan
kV
Kilovolt(s)
Laskin
Laskin Energy Center
Manitoba Hydro
Manitoba Hydro-Electric Board
MBtu
Million British thermal units
Medicare Part D
Medicare Part D provision of the Patient Protection and Affordable Care Act of 2010
Mesabi Nugget
Mesabi Nugget Delaware, LLC
Minnesota Power
An operating division of ALLETE, Inc.
Minnkota Power
Minnkota Power Cooperative, Inc.
MISO
Midwest Independent Transmission System Operator, Inc.
Moody’s
Moody’s Investors Service, Inc.
MPCA
Minnesota Pollution Control Agency


ALLETE 2010 Form 10-K
 

 

Definitions (Continued)

MPUC
Minnesota Public Utilities Commission
MW / MWh
Megawatt(s) / Megawatt-hour(s)
NextEra Energy
NextEra Energy Resources, LLC
NDPSC
North Dakota Public Service Commission
NOL
Net Operating Loss
Non-residential
Retail commercial, non-retail commercial, office, industrial, warehouse, storage and institutional
NO2
Nitrogen Dioxide
NOX
Nitrogen Oxides
Note ___
Note ___ to the consolidated financial statements in this Form 10-K
NPDES
National Pollutant Discharge Elimination System
NYSE
New York Stock Exchange
OES
Minnesota Office of Energy Security
Oliver Wind I
Oliver Wind I Energy Center
Oliver Wind II
Oliver Wind II Energy Center
Palm Coast Park
Palm Coast Park development project in Florida
Palm Coast Park District
Palm Coast Park Community Development District
PolyMet
PolyMet Mining Corporation
PPA
Power Purchase Agreement
PSCW
Public Service Commission of Wisconsin
PUHCA 2005
Public Utility Holding Company Act of 2005
Rainy River Energy
Rainy River Energy Corporation - Wisconsin
RSOP
Retirement Savings and Stock Ownership Plan
SEC
Securities and Exchange Commission
SO2
Sulfur Dioxide
Square Butte
Square Butte Electric Cooperative
Standard & Poor’s
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.
SWL&P
Superior Water, Light and Power Company
Taconite Harbor
Taconite Harbor Energy Center
Taconite Ridge
Taconite Ridge Energy Center
Town Center
Town Center at Palm Coast development project in Florida
Town Center District
Town Center at Palm Coast Community Development District
WDNR
Wisconsin Department of Natural Resources



ALLETE 2010 Form 10-K
 

 

Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995

Statements in this report that are not statements of historical facts may be considered “forward-looking” and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. Any statements that express, or involve discussions as to, future expectations, risks, beliefs, plans, objectives, assumptions, events, uncertainties, financial performance, or growth strategies (often, but not always, through the use of words or phrases such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “projects,̶ 1; “will likely result,” “will continue,” “could,” “may,” “potential,” “target,” “outlook” or words of similar meaning) are not statements of historical facts and may be forward-looking.

In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, we are hereby filing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected, or expectations suggested, in forward-looking statements made by or on behalf of ALLETE in this Annual Report on Form 10-K, in presentations, on our website, in response to questions or otherwise. These statements are qualified in their entirety by reference to, and are accompanied by, the following important factors, in addition to any assumptions and other factors referred to specifically in connection with such forward-looking statements:

·
our ability to successfully implement our strategic objectives;
·
prevailing governmental policies, regulatory actions, and legislation, including those of the United States Congress, state legislatures, the FERC, the MPUC, the PSCW, the NDPSC, the EPA and various state, local and county regulators, and city administrators, about allowed rates of return, financings, industry and rate structure, acquisition and disposal of assets and facilities, real estate development, operation and construction of plant facilities, recovery of purchased power, capital investments and other expenses, present or prospective wholesale and retail competition (including but not limited to transmission costs), zoning and permitting of land held for resale and environmental matters;
·
our ability to manage expansion and integrate acquisitions;
·
the potential impacts of climate change and future regulation to restrict the emissions of GHG on our Regulated Operations;
·
effects of restructuring initiatives in the electric industry;
·
economic and geographic factors, including political and economic risks;
·
changes in and compliance with laws and regulations;
·
weather conditions;
·
natural disasters and pandemic diseases;
·
war and acts of terrorism;
·
wholesale power market conditions;
·
population growth rates and demographic patterns;
·
effects of competition, including competition for retail and wholesale customers;
·
changes in the real estate market;
·
pricing and transportation of commodities;
·
changes in tax rates or policies or in rates of inflation;
·
project delays or changes in project costs;
·
availability and management of construction materials and skilled construction labor for capital projects;
·
changes in operating expenses and capital expenditures;
·
global and domestic economic conditions affecting us or our customers;
·
our ability to access capital markets and bank financing;
·
changes in interest rates and the performance of the financial markets;
·
our ability to replace a mature workforce and retain qualified, skilled and experienced personnel; and
·
the outcome of legal and administrative proceedings (whether civil or criminal) and settlements that affect the business and profitability of ALLETE.

Additional disclosures regarding factors that could cause our results and performance to differ from results or performance anticipated by this report are discussed in Item 1A under the heading “Risk Factors” beginning on page 22 of this Annual Report on Form 10-K. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which that statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all of these factors, nor can it assess the impact of each of these factors on the businesses of ALLETE or the extent to which any factor, or combination of factors, may cause actu al results to differ materially from those contained in any forward-looking statement. Readers are urged to carefully review and consider the various disclosures made by us in this Annual Report on Form 10-K and in our other reports filed with the SEC that attempt to advise interested parties of the factors that may affect our business.

ALLETE 2010 Form 10-K
 

 

Part I

Item 1.
Business

Regulated Operations includes our regulated utilities, Minnesota Power and SWL&P, as well as our investment in ATC, a Wisconsin-based regulated utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. Minnesota Power provides regulated utility electric service in northeastern Minnesota to 146,000 retail customers and wholesale electric service to 16 non-affiliated municipalities. Minnesota Power also provides regulated utility electric service to 1 private utility in Wisconsin. SWL&P, a wholly-owned subsidiary of ALLETE, is also a private utility in Wisconsin and a customer of Minnesota Power. SWL&P provides regulated electric, natural gas and water service in northwestern Wisconsin to 15,000 electric custome rs, 12,000 natural gas customers and 10,000 water customers. Our regulated utility operations include retail and wholesale activities under the jurisdiction of state and federal regulatory authorities. (See Item 1. Business – Regulated Operations – Regulatory Matters.)

Investments and Other is comprised primarily of BNI Coal, our coal mining operations in North Dakota, and ALLETE Properties, our Florida real estate investment. This segment also includes a small amount of non-rate base generation, approximately 7,000 acres of land held-for-sale in Minnesota, and earnings on cash and investments.

ALLETE is incorporated under the laws of Minnesota. Our corporate headquarters are in Duluth, Minnesota. Statistical information is presented as of December 31, 2010, unless otherwise indicated. All subsidiaries of ALLETE are wholly owned unless otherwise specifically indicated. References in this report to “we,” “us” and “our” are to ALLETE and its subsidiaries, collectively.

Year Ended December 31
2010
2009
2008
       
Consolidated Operating Revenue – Millions
$907.0
$759.1
$801.0
       
Percentage of Consolidated Operating Revenue
     
Regulated Operations
92%
90%
89%
Investments and Other
8%
10%
11%
 
100%
100%
100%

For a detailed discussion of results of operations and trends, see Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations. For business segment information, see Note 1. Operations and Significant Accounting Policies and Note 2. Business Segments.


REGULATED OPERATIONS

Electric Sales / Customers

Regulated Utility Electric Sales
Year Ended December 31
2010
%
2009
%
2008
%
Millions of Kilowatt-hours
           
Retail and Municipals
           
Residential
1,150
9
1,164
10
1,172
9
Commercial
1,433
11
1,420
12
1,454
12
Industrial
6,804
52
4,475
37
7,192
57
Municipals (FERC rate regulated)
1,006
7
992
8
1,002
8
Total Retail and Municipals
10,393
79
8,051
67
10,820
86
Other Power Suppliers
2,745
21
4,056
33
1,800
14
 Total Regulated Utility Electric Sales
13,138
100
12,107
100
12,620
100

Seasonality

Due to the high concentration of industrial sales, Minnesota Power is not subject to significant seasonal fluctuations. The operations of our industrial customers, which make up a large portion of our sales portfolio as shown in the table above, are not typically subject to significant seasonal variations.

ALLETE 2010 Form 10-K
 

 

REGULATED OPERATIONS (Continued)

Industrial Customers. In 2010, our industrial customers represented 52 percent of total regulated utility kilowatt-hour sales. Our industrial customers are primarily in the taconite, paper, pulp and wood products, and pipeline industries.

Industrial Customer Electric Sales
Year Ended December 31
2010
%
2009
%
2008
%
Millions of Kilowatt-hours
           
Taconite Producers
4,324
64
2,124
47
4,579
64
Paper, Pulp and Wood Products
1,573
23
1,454
33
1,567
22
Pipelines
494
7
504
11
582
8
Other Industrial
413
6
393
9
464
6
Total Industrial Customer Electric Sales
6,804
100
4,475
100
7,192
100

Approximately 60 percent of the ore consumed by integrated steel facilities in the United States originates from six taconite customers of Minnesota Power, which represented 4,324 million kilowatt-hours, or 64 percent, of our total industrial sales in 2010. Taconite, an iron-bearing rock of relatively low iron content, is abundantly available in northern Minnesota and an important domestic source of raw material for the steel industry. Taconite processing plants use large quantities of electric power to grind the iron-bearing rock, and agglomerate and pelletize the iron particles into taconite pellets.

During 2010, the domestic steel industry rebounded from the low levels of production seen in 2009. According to the American Iron and Steel Institute (AISI), United States raw steel production operated at approximately 70 percent of capacity in 2010, up significantly from 2009 levels of approximately 50 percent. Domestic steel demand rebounded for automobiles and durable goods, while still remaining soft for structural and construction steel products.

Annual 2010 taconite production in Minnesota increased from the 18 million tons produced in 2009 to approximately 36 million tons in 2010 (40 million tons in 2008), representing about 85 percent of capacity. As a result, kilowatt-hour sales to our taconite customers in 2010 were more than double our 2009 sales.

Projections from the AISI translate to United States steel production levels at about 75 percent of capacity in 2011. There has been a general historical correlation between U.S. steel production and Minnesota taconite production. Based on these projections Minnesota Power expects 2011 taconite production in Minnesota to be in the range of 2010 production levels. We will continue to market available power to Other Power Suppliers, when necessary, in an effort to mitigate the earnings impact of lower industrial sales. Other Power Supply sales are dependent upon the availability of generation and are sold at market-based prices into the MISO market on a daily basis or through bilateral agreements of various durations.

In addition to serving the taconite industry, Minnesota Power also serves a number of customers in the paper, pulp and wood products industry, which represented 1,573 million kilowatt-hours, or 23 percent, of our total industrial sales in 2010. In total, we serve four major paper and pulp mills directly and one paper mill indirectly by providing wholesale service to the retail provider of electricity to the mill. Minnesota Power’s paper and pulp customers ran at, or very near, full capacity for the majority of 2010, as the paper industry stabilized and pricing and demand levels recovered following the global recession.

The pipeline industry is the third key industrial class served by Minnesota Power with services provided to two crude oil pipelines and one refinery indirectly through SWL&P, which represented 494 million kilowatt-hours, or 7 percent, of our total industrial sales in 2010. These customers have a common reliance on the importation of Canadian crude oil. After near-capacity operations for the past four years, both pipeline operators are executing expansion plans to transport Western Canadian crude oil reserves (Alberta Oil Sands) to United States markets. Access to traditional Midwest markets is being expanded to Southern markets as the Canadian supply is displacing domestic production and deliveries imported from the Gulf Coast.

Large Power Customer Contracts. Minnesota Power has 9 Large Power contracts with 10 Large Power Customers. All of these contracts serve requirements of 10 MW or more of customer load. The customers consist of five taconite producing facilities (two of which are owned by one company and are served under a single contract), one iron nugget plant, and four paper and pulp mills.

ALLETE 2010 Form 10-K
 

 

REGULATED OPERATIONS (Continued)
Large Power Customer Contracts (Continued)

Large Power Customer contracts require Minnesota Power to have a certain amount of generating capacity available. In turn, each Large Power Customer is required to pay a minimum monthly demand charge that covers the fixed costs associated with having this capacity available to serve the customer, including a return on common equity. Most contracts allow customers to establish the level of megawatts subject to a demand charge on a four-month basis and require that a portion of their megawatt needs be committed on a take-or-pay basis for at least a portion of the agreement. In addition to the demand charge, each Large Power Customer is billed an energy charge for each kilowatt-hour used that recovers the variable costs incurred in generating electricity. Four of the Large Power Customers have interruptible service which provides a discou nted demand rate for the ability to interrupt the customers during system emergencies. Minnesota Power also provides incremental production service for customer demand levels above the contractual take-or-pay levels. There is no demand charge for this service and energy is priced at an increment above Minnesota Power’s cost. Incremental production service is interruptible.

All contracts with Large Power Customers continue past the contract termination date unless the required advance notice of cancellation has been given. The advance notice of cancellation varies from one to four years. Such contracts minimize the impact on earnings that otherwise would result from significant reductions in kilowatt-hour sales to such customers. Large Power Customers are required to take all of their purchased electric service requirements from Minnesota Power for the duration of their contracts. The rates and corresponding revenue associated with capacity and energy provided under these contracts are subject to change through the same regulatory process governing all retail electric rates. (See Item 1. Business – Regulated Operations – Regulatory Matters – Electric Rates.)

Minnesota Power, as permitted by the MPUC, requires its taconite-producing Large Power Customers to pay weekly for electric usage based on monthly energy usage estimates. These customers receive estimated bills based on Minnesota Power’s prediction of the customer’s energy usage, forecasted energy prices, and fuel clause adjustment estimates. Minnesota Power’s five taconite-producing Large Power Customers have generally predictable energy usage on a week-to-week basis, which makes the variance between the estimated usage and actual usage small.

Contract Status for Minnesota Power Large Power Customers
As of February 1, 2011

Customer
Industry
Location
Ownership
Earliest
Termination Date
ArcelorMittal USA – Minorca Mine (a)
Taconite
Virginia, MN
ArcelorMittal USA Inc.
January 31, 2015
Hibbing Taconite Co. (c)
Taconite
Hibbing, MN
62.3% ArcelorMittal USA Inc.
23.0% Cliffs Natural Resources Inc.
14.7% United States Steel Corporation
December 31, 2015
United States Steel Corporation (USS)
(USS – Minnesota Ore) (a,b)
Taconite
Mt. Iron, MN and Keewatin, MN
United States Steel Corporation
January 31, 2015
United Taconite LLC (c)
Taconite
Eveleth, MN
Cliffs Natural Resources Inc.
December 31, 2015
Mesabi Nugget Delaware, LLC (c)
Iron Nugget
Hoyt Lakes, MN
Steel Dynamics, Inc (80%)
Kobe Steel USA (20%)
December 31, 2017
UPM, Blandin Paper Mill (a)
Paper
Grand Rapids, MN
UPM-Kymmene Corporation
January 31, 2015
Boise White Paper, LLC (c)
Paper
International Falls, MN
Boise Paper Holdings, LLC
December 31, 2013
Sappi Cloquet LLC (a)
Paper and Pulp
Cloquet, MN
Sappi Limited
January 31, 2015
NewPage Corporation – Duluth Mills (a)
Paper and Pulp
Duluth, MN
NewPage Corporation
January 31, 2015

(a)
The contract will terminate four years from the date of written notice from either Minnesota Power or the customer. No notice of contract cancellation has been given by either party. Thus, the earliest date of cancellation is January 31, 2015.
(b)
United States Steel Corporation owns both the Minntac Plant in Mountain Iron, MN and the Keewatin Taconite Plant in Keewatin, MN.
(c)
As of February 1, 2011, the contract has not reached the period of advance notice of cancellation.


Residential and Commercial Customers. In 2010, our residential and commercial customers represented 20 percent of total regulated utility kilowatt-hour sales. Minnesota Power provides regulated utility electric service in northeastern Minnesota to approximately 146,000 residential and commercial customers. SWL&P provides regulated electric, natural gas and water service in northwestern Wisconsin to approximately 15,000 electric customers, 12,000 natural gas customers and 10,000 water customers.

ALLETE 2010 Form 10-K
8
 

 

REGULATED OPERATIONS (Continued)

Municipal Customers. In 2010, our municipal customers represented 7 percent of total regulated utility kilowatt-hour sales, which included 16 municipalities in Minnesota and 1 private utility in Wisconsin. SWL&P, a wholly-owned subsidiary of ALLETE, is also a private utility in Wisconsin and a customer of Minnesota Power. In 2008, Minnesota Power entered into formula-based rate contracts with these customers which will continue until the required three-year advance notice of cancellation has been given. To date, no termination notices have been received. Under the formula-based rates provision, wholesale rates are set at the beginning of the year based on expected costs and provid e for a true-up calculation for actual costs.

Other Power Suppliers. The Company also enters into off-system sales with Other Power Suppliers. These sales are dependent upon the availability of generation and are sold at market-based prices into the MISO market on a daily basis or through bilateral agreements of various durations.

Basin Power Sales Agreement. On October 29, 2009, Minnesota Power entered into an agreement to sell 100 MW of capacity and energy for a ten-year period to Basin which began in May 2010. The capacity charge is based on a fixed monthly schedule with a minimum annual escalation provision. The energy charge is based on a fixed monthly schedule and provides for annual escalation based on our cost of fuel. The agreement allows us to recover a pro-rata share of increased costs related to emissions that may occur during the last five years of the contract.

Power Supply

In order to meet our customers’ electric requirements, we utilize a mix of Company generation and purchased power. The Company’s generation is primarily coal-fired, but also includes approximately 101 MW of hydro generation from ten hydro stations in Minnesota, approximately 62 MW of wind generation, and 76 MW of biomass co-fired generation. Purchased power is made up of long-term coal, wind and hydro power purchase agreements and market purchases. The following table reflects the Company’s generating capabilities as of December 31, 2010 and total electrical output for 2010. Minnesota Power had an annual net peak load of 1,604 MW on August 30, 2010.


ALLETE 2010 Form 10-K
 

 

REGULATED OPERATIONS (Continued)
Power Supply (Continued)
Regulated Utility
Power Supply
Unit
No.
Year
Installed
Net
Capability
Year Ended
December 31, 2010
Generation and Purchases
     
MW
MWh
%
Coal-Fired
         
Boswell Energy Center
1
1958
68
   
in Cohasset, MN
2
1960
66
   
 
3
1973
362
   
 
4
1980
468
   
     
964
5,680,246
42.2%
Laskin Energy Center
1
1953
56
   
in Hoyt Lakes, MN
2
1953
51
   
     
107
516,369
3.8
Taconite Harbor Energy Center
1
1957
76
   
in Schroeder, MN
2
1957
76
   
 
3
1967
79
   
     
231
1,244,316
9.2
Total Coal
   
1,302
7,440,931
55.2
Biomass/Coal/Natural Gas
         
Hibbard Renewable Energy Center
         
in Duluth, MN
3 & 4
1949, 1951
54
163,945
1.2
           
Cloquet Energy Center
in Cloquet, MN
5
2001
22
104,636
0.8
Total Biomass/Coal/Natural Gas
   
76
268,581
2.0
Hydro
         
Group consisting of ten stations in MN
Various
 
101
418,286
3.1
Wind (a)
         
Taconite Ridge
in Mt. Iron, MN
1-10
2008
4
63,958
0.5
           
Bison 1
in Center, ND
1-16
2010
8
10,274
0.1
Total Wind
   
12
74,232
0.6
Total Company Generation
   
1,491
8,202,030
60.9
Long-Term Purchased Power
         
Lignite Coal – Square Butte near Center, ND
     
1,294,082
9.6
Wind – Oliver County, ND
     
331,541
2.5
Hydro – Manitoba Hydro in Winnipeg, MB, Canada
     
523,825
3.9
Total Long-Term Purchased Power
     
2,149,448
16.0
           
Other Purchased Power(b)
     
3,112,782
23.1
Total Purchased Power
     
5,262,230
39.1
Total
   
1,491
13,464,260
100.0%
 
(a)  
The nameplate capacity of Taconite Ridge is 25 MW. The nameplate capacity of the first phase of Bison 1 is 36.8 MW and was commissioned December 8, 2010. The capacity reflected in the table is actual accredited capacity of the facility. Accredited capacity is the amount of net generating capability associated with the facility for which capacity credit was obtained using limited historical data. As more data is collected, actual accredited capacity may increase.
(b)  
Includes short-term market purchases in the MISO market and from Other Power Suppliers.

Fuel. Minnesota Power purchases low-sulfur, sub-bituminous coal from the Powder River Basin coal region located in Montana and Wyoming. Coal consumption in 2010 for electric generation at Minnesota Power’s coal-fired generating stations was approximately 4.6 million tons. As of December 31, 2010, Minnesota Power had a coal inventory of about 824,000 tons. Minnesota Power’s primary coal supply agreements have expiration dates through 2013. Under these agreements, Minnesota Power has the flexibility to procure 50 percent to 70 percent of its total coal requirements. In 2011, Minnesota Power expects to obtain coal under these coal supply agreements and in the spot market. This diversity in coal supply options allows Minnesota Power to manage its coal market price and supply risk and to take advantage of favorable spot market prices. Minnesota Power continues to explore future coal supply options. We believe that adequate supplies of low-sulfur, sub-bituminous coal will continue to be available.

Minnesota Power also has transportation agreements in place for the delivery of a significant portion of its coal requirements. These transportation agreements expire in various years between 2013 and 2015.

ALLETE 2010 Form 10-K
10 
 

 

REGULATED OPERATIONS (Continued)
Power Supply (Continued)

Coal Delivered to Minnesota Power
Year Ended December 31
2010
2009
2008
Average Price per Ton
$25.49
$24.99
$22.73
Average Price per MBtu
$1.42
$1.37
$1.25

Long-Term Purchased Power. Minnesota Power has contracts to purchase capacity and energy from various entities. The largest contract is with Square Butte. Under the agreement with Square Butte, which expires at the end of 2026, Minnesota Power is currently entitled to 50 percent of the output of a 455-MW coal-fired generating unit located near Center, North Dakota. (See Note 10. Commitments, Guarantees, and Contingencies.) BNI Coal supplies lignite coal to Square Butte. This lignite supply is sufficient to provide fuel for the anticipated useful life of the generating unit. Square Butte’s cost of lignite burned in 2010 was approximately $1.28 per MBtu.

We have two wind PPAs with an affiliate of NextEra Energy to purchase the output from two wind facilities, Oliver Wind I and II located near Center, North Dakota. We began purchasing the output from Oliver Wind I, a 50-MW facility, in December 2006 and the output from Oliver Wind II, a 48-MW facility, in November 2007. Each agreement is for 25 years and provides for the purchase of all output from the facilities. We pay a contracted energy price and will receive any potential renewable energy or environmental air quality credits. There are no fixed capacity charges and we only pay for energy as it is delivered to us.

We also have a PPA with Manitoba Hydro that began in May 2009 and expires in April 2015. Under the agreement with Manitoba Hydro, Minnesota Power is currently purchasing 50 MW of capacity and the energy associated with that capacity. Both the capacity price and the energy price are adjusted annually by the change in a governmental inflationary index.

On April 30, 2010, Minnesota Power signed a definitive agreement with Manitoba Hydro, subject to MPUC approval, to purchase surplus energy from May 2011 through April 2022. This energy-only transaction primarily consists of surplus hydro energy on Manitoba Hydro’s system that is delivered to Minnesota Power on a non-firm basis. The pricing is based on forward market prices. Under this agreement with Manitoba Hydro, Minnesota Power is committed to purchase at least one million MWh of energy over the contract term. On September 1, 2010, we filed a petition with the MPUC to approve our PPA with Manitoba Hydro. On October 28, 2010, the OES filed comments recommending approval.

Transmission and Distribution

We have electric transmission and distribution lines of 500 kV (8 miles), 250 kV (465 miles), 230 kV (632 miles), 161 kV (43 miles), 138 kV (128 miles), 115 kV (1,100 miles) and less than 115 kV (6,234 miles). We own and operate 167 substations with a total capacity of 11,102 megavoltamperes. Some of our transmission and distribution lines interconnect with other utilities.

Investment in ATC

Rainy River Energy, our wholly owned subsidiary, owns approximately 8 percent of ATC, a Wisconsin-based utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. ATC rates are based on a FERC approved 12.2 percent return on common equity dedicated to utility plant. We account for our investment in ATC under the equity method of accounting. As of December 31, 2010, our equity investment balance in ATC was $93.3 million ($88.4 million at December 31, 2009). (See Note 6. Investment in ATC.)

Properties

We own office and service buildings, an energy control center, repair shops, and storerooms in various localities. All of our electric plants are subject to mortgages, which collateralize the outstanding first mortgage bonds of Minnesota Power and SWL&P. Generally, we hold fee interest in our real properties subject only to the lien of the mortgages. Most of our electric lines are located on land not owned in fee, but are covered by appropriate easement rights or by necessary permits from governmental authorities. WPPI Energy owns 20 percent of Boswell Unit 4. WPPI Energy has the right to use our transmission line facilities to transport its share of Boswell generation. (See Note 4. Jointly-Owned Electric Facility.)


ALLETE 2010 Form 10-K
11 
 

 

REGULATED OPERATIONS (Continued)

Regulatory Matters

We are subject to the jurisdiction of various regulatory authorities. The MPUC has regulatory authority over Minnesota Power’s service area in Minnesota, retail rates, retail services, issuance of ALLETE securities and other matters. The FERC has jurisdiction over the licensing of hydroelectric projects, the establishment of rates and charges for the sale of electricity for resale and transmission of electricity in interstate commerce, certain accounting and record-keeping practices and ATC. The PSCW has regulatory authority over SWL&P’s retail sales of electricity, natural gas, water, issuances of securities, and other matters. The NDPSC has jurisdiction over site and route permitting of generation and transmission facilities necessary for construction in North Dakota.

Electric Rates. All rates and contract terms in our Regulated Operations are subject to approval by appropriate regulatory authorities. Minnesota Power designs its electric service rates based on cost of service studies under which allocations are made to the various classes of customers as approved by the MPUC. Nearly all retail sales include billing adjustment clauses, which adjust electric service rates for changes in the cost of fuel and purchased energy, recovery of current and deferred conservation improvement program expenditures and recovery of certain environmental and renewable expenditures.

Information published by the Edison Electric Institute (Typical Bills and Average Rates Report – Summer 2010 and Rankings – July 1, 2010) ranked Minnesota Power as having the sixteenth lowest average retail rates out of 168 utilities in the United States. Minnesota Power had the lowest rates in Minnesota and fourth lowest in the region consisting of Iowa, Kansas, Minnesota, Missouri, North Dakota, South Dakota and Wisconsin.

Minnesota Public Utilities Commission. The MPUC has regulatory authority over Minnesota Power’s service area in Minnesota, retail rates, retail services, issuance of securities and other matters.

2010 Rate Case. On November 2, 2009, Minnesota Power filed an $81 million retail rate increase request to recover the costs of significant investments to ensure current and future system reliability, enhance environmental performance, and bring new renewable energy to northeastern Minnesota. Interim rates were put into effect on January 1, 2010, and were originally estimated to increase revenues by $48.5 million in 2010. In April 2010, we adjusted our initial filing for events that had occurred since November 2009 – primarily increased sales to our industrial customers – resulting in a retail rate increase request of $72 million, a return on equity request of 11.25 percent, and a capital structure consisting of 54.29 percent equity and 45.71 percent deb t. As a result of these increased sales, interim rates increased revenues to approximately $52 million for 2010.

On November 2, 2010, Minnesota Power received a written order from the MPUC approving a retail electric rate increase of approximately $54 million, a 10.38 percent return on common equity and a 54.29 percent equity ratio, subject to reconsideration. In a hearing on January 19, 2011, the MPUC denied all reconsideration requests. Final rates will be implemented after MPUC acceptance of the compliance filing, estimated in the second quarter of 2011. Minnesota Power will continue to collect interim rates from its customers until the new rates go into effect. We expect no interim rate refunds will be issued.

North Dakota Wind Development. On December 31, 2009, we purchased an existing 250 kV DC transmission line from Square Butte for $69.7 million. The 465-mile transmission line runs from Center, North Dakota, to Duluth, Minnesota. We use this line to transport increasing amounts of wind energy from North Dakota while gradually phasing out coal-based electricity delivered to our system over this transmission line from Square Butte’s lignite coal-fired generating unit.

Bison 1 is a two phase, 82 MW wind project in North Dakota. All permitting has been received and the first phase was completed in 2010. Phase one included construction of a 22-mile, 230 kV transmission line and the installation of 16 2.3 MW wind turbines, all of which were in-service at the end of 2010. Phase two is expected to be completed late in 2011 and consists of the installation of 15 3.0 MW wind turbines. Bison 1 is expected to have a total capital investment of approximately $177 million, of which $121 million was spent through December 31, 2010. In 2009, the MPUC approved Minnesota Power’s petition seeking current cost recovery eligibility for investments and expenditures related to Bison 1, and in July 2010, the MPUC approved our petition establishing rates effective August 1, 2010.

Bison 2 is a 105 MW wind project in North Dakota which, if approved by the MPUC, is expected to be completed by the end of 2012. The total project investment is estimated to be approximately $160 million, and construction would begin upon the receipt of all regulatory and permitting approvals. We will file for MPUC approval for the project and NDPSC site permit approval in the first quarter of 2011. Once the Bison 2 project and related permitting are approved by the MPUC, we will seek current cost recovery eligibility for our investment.

Hibbard Biomass Upgrade Project. Hibbard is a 50 MW biomass/coal/natural gas facility located in Duluth, Minnesota. The upgrade project, which was approved by the MPUC in September 2009, is designed to leverage existing assets to increase biomass renewable energy production at an expected total cost of approximately $22 million. Upon receipt of any necessary permitting approvals, construction would begin in 2011, and could be completed by the end of 2012. We also plan to seek current cost recovery authorization for the project from the MPUC in 2011.

ALLETE 2010 Form 10-K
12 
 

 

REGULATED OPERATIONS (Continued)
Regulatory Matters (Continued)

Integrated Resource Plan. On October 5, 2009, Minnesota Power filed with the MPUC its 2010 Integrated Resource Plan, a comprehensive estimate of future capacity needs within Minnesota Power’s service territory. Minnesota Power does not anticipate the need for new base load generation within the Minnesota Power service territory through 2025, and plans to meet estimated future customer demand while achieving:

·  
Increased system flexibility to adapt to volatile business cycles and varied future industrial load scenarios;
·  
Reductions in the emission of GHGs (primarily CO2); and
·  
Compliance with mandated renewable energy standards.

To achieve these objectives over the coming years, we plan to reshape our generation portfolio by adding 300 to 500 MW of renewable energy to our generation mix, and exploring options to incorporate peaking or intermediate resources. The first phase of the Bison 1 wind project in North Dakota was put into service in 2010 and the second phase is expected to be in service in late 2011, increasing our renewable generation by a total of 82 MW. The Bison 2 105 MW wind project, if approved by the MPUC, along with the Hibbard Biomass Upgrade Project, will continue our expansion into renewable energy to meet our Integrated Resource Plan goals.

We project average annual long-term growth, excluding prospective additional load from industrial and municipal customers, of approximately one percent in electric usage through 2025. We will also focus on conservation and demand side management to meet the energy savings goals established in Minnesota legislation. We expect MPUC action on our Integrated Resource Plan filing in 2011.

Transmission Investments. We have an approved cost recovery rider in place for certain transmission expenditures, and our current billing factor was approved by the MPUC in June 2009. The billing factor allows us to charge our retail customers on a current basis for the costs of constructing certain transmission facilities plus a return on the capital invested. In our 2010 rate case, the MPUC approved moving completed transmission projects from the current cost recovery rider to base rates. In July 2010, we filed for an updated billing factor that includes additional transmission projects and expenses which we expect to be approved in early 2011.

Conservation Improvement Program (CIP). Minnesota requires electric utilities to spend a minimum of 1.5 percent of gross operating revenues from service provided in the state on energy CIPs each year. These investments are recovered from retail customers through a billing adjustment and amounts included in retail base rates. The MPUC allows utilities to accumulate, in a deferred account for future cost recovery, all CIP expenditures, as well as a carrying charge on the deferred account balance. Minnesota’s Next Generation Energy Act of 2007 introduced, in addition to minimum spending requirements, an energy-saving goal of 1.5 percent of gross annual retail electric energy sales by 2010. In June 2008, a biennial filing was submitted for 2009 and 2010, and subsequently approv ed by the OES. Minnesota Power’s CIP investment goal was $4.6 million for 2010 ($4.6 million for 2009; $3.7 million for 2008), with actual spending of $5.6 million in 2010 ($5.5 million in 2009; $4.8 million in 2008). For future program years, Minnesota Power will build upon current successful CIPs in an effort to meet or exceed the newly established 1.5 percent energy-saving goal. In June 2010, a triennial filing was submitted for 2011 through 2013, and subsequently approved by the OES.

Federal Energy Regulatory Commission. The FERC has jurisdiction over the licensing of hydroelectric projects, the establishment of rates and charges for the sale of electricity for resale and transmission of electricity in interstate commerce, certain accounting and record-keeping practices and the operations of ATC.

Minnesota Power’s non-affiliated municipal customers consist of 16 municipalities in Minnesota and 1 private utility in Wisconsin. SWL&P, a wholly-owned subsidiary of ALLETE, is also a private utility in Wisconsin and a customer of Minnesota Power. In 2008, Minnesota Power entered into formula-based rate contracts with these customers which will continue until the required three-year advance notice of cancellation has been given. To date, no termination notices have been received. The rates included in these contracts are calculated using a cost-based formula methodology that is set at the beginning of the year using estimated costs, and provides for a true-up calculation for actual costs. Under the formula-based rates provision, wholesale rates, including the estimate to true-up to actual costs, were comparable in 2010 to 20 09, and are projected to be comparable in 2011.

The Energy Policy Act of 2005 (EPAct 2005) was signed into law, which enacted PUHCA 2005. PUHCA 2005 gives FERC certain authority over books and records of public utility holding companies and their affiliates. It also addresses FERC review and authorization of the allocation of costs for non-power goods, or administrative or management services when requested by a holding company system or state commission. In addition, EPAct 2005 directs the FERC to issue certain rules addressing electricity reliability, investment in energy infrastructure, fuel diversity for electric generation, promotion of energy efficiency and wise energy use.

ALLETE 2010 Form 10-K
13 
 

 

REGULATED OPERATIONS (Continued)
Regulatory Matters (Continued)

The FERC has jurisdiction over rates for electric transmission service in interstate commerce and electricity sold at wholesale, hydro facility licensing, natural gas transportation, accounting practices and certain other activities of our utility subsidiaries, including enforcement of North American Electric Reliability Corporation mandatory electric reliability standards. State and local agencies have jurisdiction over many of our utility activities, including regulation of retail rates and environmental matters.

Violations of FERC rules are potentially subject to enforcement action by the FERC including financial penalties up to $1 million per day per violation.

Public Service Commission of Wisconsin. The PSCW has regulatory authority over SWL&P’s retail sales of electricity, natural gas, water, issuances of securities, and other matters.

During 2010, SWL&P’s retail rates were based on a 2008 PSCW retail rate order, which was effective January 1, 2009. SWL&P’s 2011 retail rates are based on a 2010 PSCW retail rate order, effective January 1, 2011, that allows for a 10.9 percent return on common equity. The new rates reflect a 2.4 percent average increase in retail utility rates for SWL&P customers (a 12.80 percent increase in water rates, a 2.49 percent increase in natural gas rates and a 0.68 percent increase in electric rates). On an annualized basis, the rate increase will generate approximately $2 million in additional revenue.

North Dakota Public Service Commission. The NDPSC has jurisdiction over site and route permitting of generation and transmission facilities necessary for construction in North Dakota.

On March 10, 2010, the NDPSC approved the construction of a 22-mile, 230 kV transmission line that connected Bison 1 to the DC transmission line at the Square Butte Substation in Center, North Dakota.


Regional Organizations

Midwest Independent Transmission System Operator, Inc. Minnesota Power and SWL&P are members of MISO, a regional transmission organization. While Minnesota Power and SWL&P retain ownership of their respective transmission assets and control area functions, their transmission network is under the regional operational control of MISO. Minnesota Power and SWL&P take and provide transmission service under the MISO open access transmission tariff. MISO continues its efforts to standardize rates, terms, and conditions of transmission service over its broad region, encompassing all or parts of 15 states and one Canadian province, and over 100,000 MW of generating capacity.

Mid-Continent Area Power Pool (MAPP). Minnesota Power also participates in MAPP, a power pool operating in parts of nine states in the Upper Midwest and in two Canadian provinces. MAPP functions include a regional transmission committee that is charged with planning for the future transmission needs of the region as well as ensuring that all electric industry participants have equal access to the transmission system.

Minnesota Legislation

Renewable Energy. In February 2007, Minnesota enacted a law requiring 25 percent of Minnesota Power’s total retail energy sales in Minnesota to come from renewable energy sources by 2025. The law also requires Minnesota Power to meet interim milestones of 12 percent by 2012, 17 percent by 2016, and 20 percent by 2020. Minnesota Power has developed a plan to meet the renewable goals set by Minnesota and has included this plan in its 2010 Integrated Resources Plan filed October 5, 2009 with the MPUC. The law allows the MPUC to modify or delay meeting a milestone if implementation will cause significant ratepayer cost or technical reliability issues. If a utility is not in compliance with a milestone, the MPUC may order the utility to construct facilities, purchase r enewable energy or purchase renewable energy credits. We are currently on track to meet the 12 percent renewable energy sales milestone by 2012.

Competition

Retail energy sales in Minnesota and Wisconsin are made to customers in assigned service territories. As a result, most retail electric customers in Minnesota do not have the ability to choose their electric supplier. Large energy users outside of a municipality of 2 MW and above may be allowed to choose a supplier upon MPUC approval. Minnesota Power serves 10 Large Power facilities over 10 MW, none of which have engaged in a competitive rate process. No other large commercial or small industrial customers have attempted to seek a provider outside of Minnesota Power’s service territory since 1994. Retail electric and natural gas customers in Wisconsin do not have the ability to choose their energy supplier. In both states, however, electricity may compete with other forms of energy. Customers may also choose to generate thei r own electricity, or substitute other fuels for their manufacturing processes.

For the year ended December 31, 2010, 7 percent of the Company’s energy sales were sales to municipal customers in Minnesota and a private utility in Wisconsin by contract under a formula-based rate approved by FERC. These customers have the right to seek an energy supply from any wholesale electric service provider upon contract expiration.

ALLETE 2010 Form 10-K
14 
 

 

REGULATED OPERATIONS (Continued)
Competition (Continued)

The FERC has continued with its efforts to promote a more competitive wholesale market through open-access transmission and other means. As a result, our sales to Other Power Suppliers and our purchases to supply our retail and wholesale load are in the competitive market.

Franchises

Minnesota Power holds franchises to construct and maintain an electric distribution and transmission system in 94 cities and towns located within its electric service territory. SWL&P holds 17 similar franchises for electric, natural gas and/or water systems in 1 city and 16 villages and towns within its service territory. The remaining cities, villages and towns served by us do not require a franchise to operate within their boundaries. Our exclusive service territories are established by state regulatory agencies.


INVESTMENTS AND OTHER

Investments and Other is comprised primarily of BNI Coal, our coal mining operations in North Dakota, and ALLETE Properties, our Florida real estate investment. This segment also includes a small amount of non-rate base generation, approximately 7,000 acres of land available-for-sale in Minnesota, and earnings on cash and investments.

BNI Coal

BNI Coal is a low-cost supplier of lignite in North Dakota, producing about 4 million tons annually. Two electric generating cooperatives, Minnkota Power and Square Butte, presently consume virtually all of BNI Coal’s production of lignite under cost-plus, fixed fee coal supply agreements extending through 2026. (See Item 1. Business – Long-Term Purchased Power and Note 10. Commitments, Guarantees and Contingencies.) The mining process disturbs and reclaims between 200 and 250 acres per year. Laws require that the reclaimed land be at least as productive as it was prior to mining. The average cost to reclaim one acre of land is approximately $35,000; however, depending on conditions, it could be significantly higher. Reclamation costs are included in the cost of coal passed through to customers. BNI Coal has lignite reserve s of an estimated 600 million tons.

ALLETE Properties

ALLETE Properties is our Florida real estate investment. Our strategy for the assets is to complete and maintain key entitlements and infrastructure improvements without requiring significant additional investment, and sell the portfolio over time or in bulk transactions. ALLETE intends to sell its Florida land assets at reasonable prices when opportunities arise, and reinvest the proceeds in its growth initiatives. ALLETE does not intend to acquire additional Florida real estate.

Our two major development projects are Town Center and Palm Coast Park. Ormond Crossings is a third major project that is currently in the planning stage. On February 16, 2010, the City of Ormond Beach, Florida, approved a Development Agreement for Ormond Crossings. The agreement will facilitate development of the project as currently planned. Separately, the Lake Swamp wetland mitigation bank was permitted on land that was previously part of Ormond Crossings. Market conditions will determine when our projects will be built out. See Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Outlook for more information on ALLETE Properties’ land holdings.

Town Center. Town Center, which is located in the City of Palm Coast, is a mixed-use development with a neo-traditional downtown core area. Construction of the major infrastructure improvements at Town Center was substantially complete at the end of 2008. At build-out, Town Center is expected to include approximately 3,000 residential units and 4.0 million square feet of various types of non-residential space. Sites have also been set aside for a new city hall, a community center, an art and entertainment center, and other public uses.

Palm Coast Park. Palm Coast Park, which is located in the City of Palm Coast, is a 4,700-acre mixed-use development. Construction of the major infrastructure improvements at Palm Coast Park was substantially complete at the end of 2007. At build-out, Palm Coast Park is expected to include approximately 4,000 residential units and 3.0 million square feet of various types of non-residential space and public facilities.

Ormond Crossings. Ormond Crossings, which is located in the City of Ormond Beach, is a 3,000-acre, mixed-use development. Planning, engineering design, and permitting of the master infrastructure are ongoing. At build out, Ormond Crossings is expected to include approximately 3,000 residential units and 5.0 million square feet of various types of non-residential space and public facilities. We do not expect any development activity at Ormond Crossings in 2011.


ALLETE 2010 Form 10-K
15 
 

 

ALLETE Properties (Continued)

Lake Swamp. Lake Swamp wetland mitigation bank is a 1,900 acre regionally significant wetlands mitigation bank that was permitted by the St. Johns River Water Management District in 2008 and the U.S. Army Corps of Engineers in December 2009. Wetland mitigation credits will be used at Ormond Crossings and will also be available for sale to developers of other projects that are located in the bank’s service area. When additional credits are needed, applications will be submitted to expand the bank by approximately 1,000 acres.

Seller Financing. ALLETE Properties occasionally provides seller financing to certain qualified buyers. At December 31, 2010, outstanding finance receivables were $3.7 million, with maturities up to 3 years. These finance receivables accrue interest at market-based rates and are collateralized by the financed properties.

Regulation. A substantial portion of our development properties in Florida are subject to federal, state and local regulations, and restrictions that may impose significant costs or limitations on our ability to develop the properties. Much of our property is vacant land and some is located in areas where development may affect the natural habitats of various protected wildlife species or in sensitive environmental areas such as wetlands.

Non-Rate Base Generation

As of December 31, 2010, non-rate base generation consists of 30 MW of generation at Rapids Energy Center. In 2010, we sold 0.1 million MWh of non-rate base generation (0.2 million in 2009 and 2008). In November 2009 Cloquet Energy Center was transferred from non-rate base generation to regulated operations.

Non-Rate Base Power Supply
Unit No.
Year
Installed
Year
Acquired
Net
Capability (MW)
Rapids Energy Center (a)
       
in Grand Rapids, MN
       
Steam – Biomass (b)
6 & 7
1969, 1980
2000
29
Hydro – Conventional Run-of-River
4 & 5
1917
2000
1

(a)
The net generation is primarily dedicated to the needs of one customer.
(b)
Rapids Energy Center is supplemented by coal.

Other

Minnesota Land. We have approximately 7,000 acres of land available-for-sale in Minnesota. We acquired the land in 2001 when we purchased the Taconite Harbor generating facilities.

Environmental Matters

Our businesses are subject to regulation of environmental matters by various federal, state and local authorities. Currently, a number of regulatory changes to the Clean Air Act, the Clean Water Act, and various waste management requirements are under consideration by both Congress and the EPA. Minnesota Power’s fossil fuel facilities will likely be subject to regulation under these proposals or other regulatory changes. Our intention is to reduce our exposure to these requirements by reshaping our generation portfolio, over time, to reduce our reliance on coal.

We consider our businesses to be in substantial compliance with currently applicable environmental regulations and believe all necessary permits to conduct such operations have been obtained. Due to future restrictive environmental requirements through legislation and/or rulemaking, we anticipate that potential expenditures for environmental matters will be material and will require significant capital investments. (See Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Capital Requirements.)

We review environmental matters on a quarterly basis. Accruals for environmental liabilities are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the consolidated balance sheet at undiscounted amounts and exclude claims for recoveries from insurance or other third parties. Costs related to environmental contamination treatment and cleanup are charged to expense unless recoverable in rates from customers.

Air. The electric utility industry is heavily regulated both at the Federal and State level to address air emissions. Minnesota Power’s generating facilities mainly burn low-sulfur western sub-bituminous coal. Square Butte, located in North Dakota, burns lignite coal. All of Minnesota Power’s generating facilities are equipped with pollution control equipment such as scrubbers, bag houses, and low NOx technologies. These facilities are currently in compliance with applicable emission requirements.

ALLETE 2010 Form 10-K
16 
 

 

Environmental Matters (Continued)

New Source Review. In August 2008, Minnesota Power received a Notice of Violation (NOV) from the United States EPA asserting violations of the New Source Review (NSR) requirements of the Clean Air Act at Boswell Units 1-4 and Laskin Unit 2. The NOV asserts that seven projects undertaken at these coal-fired plants between the years 1981 and 2000 should have been reviewed under the NSR requirements, and that the Boswell Unit 4 Title V permit was violated. Minnesota Power believes the projects were in full compliance with the Clean Air Act, NSR requirements and applicable permits.

We are engaged in discussions with the EPA regarding resolution of these matters, but we are unable to predict the outcome of these discussions. Since 2006, Minnesota Power has significantly reduced emissions at Laskin and Boswell, and continues to reduce emissions at Boswell. The resolution could result in civil penalties and the installation of control technology, some of which is already planned or completed for other regulatory requirements. Any costs of installing pollution control technology would likely be eligible for recovery in rates over time subject to MPUC and FERC approval in a rate proceeding. We are unable to predict the ultimate financial impact or the resolution of these matters at this time.

EPA Transport Rule. On July 6, 2010, the EPA proposed a rule known as the Transport Rule (TR) requiring 31 states, including Minnesota and the District of Columbia, to reduce power plant SO2 and NOx emissions that can significantly contribute to ozone and fine particle pollution problems in other states. If adopted, the TR will replace the Clean Air Interstate Rule (CAIR) that was issued by the EPA in March 2005. Minnesota was included as one of the original 28 CAIR states but, following Minnesota Power’s successful challenge to CAIR, the EPA granted an administrative stay of the CAIR requirements in Minnesota while it prepared the TR. The proposed TR responds to the United States Court of Appeals for the District of Columbia Circuit’s remand of CAIR by replacing and reforming questionable provisions to address updated air quality standards, improved emissions data and reformed emissions transport modeling.

The EPA took public comments on the proposed rule through October 1, 2010, and plans to finalize the rule in June 2011. Emissions reductions are proposed to take effect in 2012, within one year of projected finalization of the rule.

The EPA has not yet determined whether trading of emission allowances between regulated generating units or states may be implemented. Since 2006, we have made substantial investments in pollution control equipment at our Laskin, Taconite Harbor and Boswell generating units which have significantly reduced emissions. These reductions may or may not satisfy Minnesota Power’s obligations with respect to these requirements. We are unable to predict any additional compliance costs we might incur at this time.

Minnesota Regional Haze. The federal regional haze rule requires states to submit state implementation plans (SIPs) to the EPA to address regional haze visibility impairment in 156 federally-protected parks and wilderness areas. Under the regional haze rule, certain large stationary sources, put in place between 1962 and 1977, with emissions contributing to visibility impairment are required to install emission controls, known as Best Available Retrofit Technology (BART). We have two steam units, Boswell Unit 3 and Taconite Harbor Unit 3, which are subject to BART requirements.

Pursuant to the regional haze rule, Minnesota was required to develop its SIP by December 2007. As a mechanism for demonstrating progress towards meeting the long-term regional haze goal, in April 2007 the MPCA advanced a draft conceptual SIP which relied on the implementation of CAIR. However, a formal SIP was not filed at that time due to the United States Court of Appeals for the District of Columbia Circuit’s remand of CAIR. Subsequently, the MPCA requested that companies with BART eligible units complete and submit a BART emissions control retrofit study, which was completed for Taconite Harbor Unit 3 in November 2008. The retrofit work completed in 2009 at Boswell Unit 3 meets the BART requirement for that unit. In December 2009, the MPCA approved the SIP for submittal to the EPA for its review and approval. Approval of the Minnesota SIP by the EPA is pending. If approved, Minnesota Power will have five years to bring Taconite Harbor Unit 3 into compliance. It is uncertain what controls will ultimately be required at Taconite Harbor Unit 3 in connection with the regional haze rule.

EPA National Emission Standards for Hazardous Air Pollutants (NESHAPs) for Electric Utility Units. Under Section 112 of the Clean Air Act, the EPA is required to set emission standards for hazardous air pollutants for certain source categories. In December 2009, Minnesota Power and other utilities received an Information Collection Request from the EPA requiring that emissions data be provided and stack testing be performed in order to develop a database upon which to base future regulations. On March 30, 2010, Minnesota Power responded to the Information Collection Request. Stack testing was completed during the third quarter of 2010 and the results were submitted to the EPA. The EPA is subject to a consent decree which requires the EPA to propose a utility NESHAPs rul e by March 2011, with the final rule by November 2011. As part of the NESHAPs rulemaking, the EPA will develop Maximum Achievable Control Technology standards for utilities. Costs for complying with potential future mercury and other hazardous air pollutant regulations under the Clean Air Act cannot be estimated at this time.

Minnesota Mercury Emission Reduction Act. Under Minnesota law, a mercury emissions reduction plan for Boswell Unit 4 is required to be submitted by July 1, 2015, with implementation no later than December 31, 2018. The statute also calls for an evaluation of a mercury control alternative which provides for environmental and public health benefits without imposing excessive costs on the utility’s customers. Costs for the Boswell Unit 4 emission reduction plan cannot be estimated at this time.

ALLETE 2010 Form 10-K
17 
 

 

Environmental Matters (Continued)

Proposed and Finalized National Ambient Air Quality Standards. The EPA is required to review the National Ambient Air Quality Standards (NAAQS) every five years. Each state is required to adopt plans describing how they will reduce emissions to attain these NAAQS if the state’s air quality is not in compliance with a NAAQS. These state plans often include more stringent air emission limitations on sources of air pollutants in the state. Four NAAQS have either recently been revised, or are currently in revision, as described below.

Ozone NAAQS. The EPA is proposing to more stringently control emissions that result in ground level ozone. In January 2010, the EPA proposed to reduce the eight-hour ozone standard and to adopt a secondary standard for the protection of sensitive vegetation from ozone-related damage. The EPA expects to issue final standards by July 2011. As proposed, states have until early 2014 to submit plans outlining how they will meet the standards.

Particulate Matter NAAQS. The EPA finalized the NAAQS Particulate Matter standards in September 2006. The EPA established a more stringent 24-hour average fine particulate (PM2.5) standard and kept the annual average fine particulate matter standard and the 24-hour coarse particulate matter standard unchanged. The District of Columbia Circuit Court of Appeals has remanded the PM2.5 standard to the EPA, requiring consideration of lower annual average standard values. The EPA has indicated that ambient air quality monitoring for 2008 through 2010 will be used as a basis for states to characterize their attainment status. The EPA plans to finalize the new PM2.5 standards in 2011, and state attainment status determination will likely not occur prior to 2013. As early as late 2014, affected sources would have to take additional control measures if modeling demonstrates non-compliance at the property boundary.

SO2 and NO2 NAAQS. The EPA recently finalized new one-hour NAAQS for SO2 and NO2. Monitor data indicates that Minnesota will likely be in compliance with these new standards; however, the SO2 NAAQS also requires the EPA to evaluate modeling data to determine attainm ent. It is unclear what the outcome of this evaluation will be. These NAAQS could also result in more stringent emission limits on our steam generating facilities, possibly resulting in additional control measures on some of our units.

We are unable to predict the nature or timing of any additional NAAQS regulation or compliance costs we might incur at this time.

Climate Change. Minnesota Power is addressing climate change by taking the following steps that also ensure reliable and environmentally compliant generation resources to meet our customer’s requirements:

·  
Expand our renewable energy supply.
·  
Improve the efficiency of our coal-based generation facilities, as well as other process efficiencies.
·  
Provide energy conservation initiatives for our customers and engage in other demand side efforts.
·  
Support research of technologies to reduce carbon emissions from generation facilities and support carbon sequestration efforts.
·  
Achieve overall carbon emission reductions.

The scientific community generally accepts that emissions of GHGs are linked to global climate change. Climate change creates physical and financial risk. These physical risks could include, but are not limited to, increased or decreased precipitation and water levels in lakes and rivers; increased temperatures; and the intensity and frequency of extreme weather events. These all have the potential to affect the Company’s business and operations.

Midwestern Greenhouse Gas Reduction Accord. Minnesota is also participating in the Midwestern Greenhouse Gas Reduction Accord (the Accord), a regional effort to develop a multi-state approach to GHG emission reductions. The Accord includes an agreement to develop a multi-sector cap-and-trade system to help meet the targets established by the group.

EPA Regulation of GHG Emissions. On May 13, 2010, the EPA issued the final Prevention of Significant Deterioration (PSD) and Title V Greenhouse Gas Tailoring Rule (Tailoring Rule). The PSD/Tailoring Rule establishes permitting thresholds required to address GHG emissions for new facilities, at existing facilities that undergo major modifications, and at other facilities characterized as major sources under the Clean Air Act’s Title V program.

For our existing facilities, the rule does not require amending our existing Title V operating permits to include GHGs requirements. Implementation of the requirement to add GHG provisions to permits will be completed at the state level in Minnesota by the MPCA when the Title V operating permits are renewed. However, installation of new units or modification of existing units resulting in a significant increase in GHG emissions will require obtaining PSD permits and amending our operating permits to demonstrate that Best Available Control Technology (BACT) is being used at the facility to control GHG emissions. The EPA has defined significant emissions increase for existing sources as an increase of 75,000 tons per year or more of total GHG on a CO2 equivalent ba sis.


ALLETE 2010 Form 10-K
18 
 

 

Environmental Matters (Continued)

In late 2010, the EPA issued guidance to permitting authorities and affected sources to facilitate incorporation of the Tailoring Rule permitting requirements into the Title V and PSD permitting programs. The guidance stated that the project-specific top-down BACT determination process used for other pollutants will also be used to determine BACT for GHG emissions. Through sector-specific white papers, the EPA also provided examples and technical summaries of GHG emission control technologies and techniques EPA considers available or likely to be available to sources. It is possible these control technologies could be determined to be BACT on a project by project basis. In the near term, one option appears to be energy efficiency maximization.

Legal challenges to the EPA’s regulation of GHG emissions, including the Tailoring Rule, have been filed and are awaiting judicial determination. Comments to the Permitting Guidance were also submitted and may be addressed by EPA in the form of revised guidance documents.

We cannot predict the nature or timing of any additional GHG legislation or regulation. Although we are unable to predict the compliance costs we might incur, the costs could have a material impact on our financial results.

Research and Study Initiatives. We participate in several research and study initiatives aimed at mitigating the potential impact of carbon emissions regulation on our business. Initiatives include assessment of carbon emissions impacts through the use of renewable energy. In developing strategies for our comprehensive approach to reducing our carbon emissions, we participate in and fund organizations and studies.

We participate in the Electric Power Research Institute’s CoalFleet for Tomorrow program, which reviews advanced clean coal generation and carbon capture research and assessment. Similarly we participate as a North Dakota Lignite Interest member of the Canadian Clean Power Coalition. The CoalFleet for Tomorrow program also reviews advanced clean coal technologies focusing on lower rank sub-bituminous and lignite fuel energy conversion technologies and carbon control options. Our participation provides Minnesota Power the ability to assess what technologies will best fit the economic fuels that are available in our region and when they may be available.

We also participate in research through the Plains CO2 Reduction Partnership (PCOR). PCOR is looking at CO2 capture technology through research conducted at the Energy and Environmental Research Center, University of North Dakota. Minnesota Power is a partner, along with a number of other utilities, technology providers, and consultants, to further research on CO2 capture techniques, operational issues and costs. The partnership is funded by the members as well as the Department of Energy.

We cannot predict whether our participation in any of these activities will result in a benefit to ALLETE or impact the future financial position or results of operations of the Company.

Water. The Federal Water Pollution Control Act requires NPDES permits to be obtained from the EPA (or, when delegated, from individual state pollution control agencies) for any wastewater discharged into navigable waters. We have obtained all necessary NPDES permits, including NPDES storm water permits for applicable facilities, to conduct our operations. We are in material compliance with these permits.

Solid and Hazardous Waste. The Resource Conservation and Recovery Act of 1976 regulates the management and disposal of solid and hazardous wastes. We are required to notify the EPA of hazardous waste activity and, consequently, routinely submit the necessary reports to the EPA. The Toxic Substances Control Act regulates the management and disposal of materials containing polychlorinated biphenyl (PCB). In response to the EPA Region V’s request for utilities to participate in the Great Lakes Initiative by voluntarily removing remaining PCB inventories, Minnesota Power is in the process of voluntarily replacing its remaining PCB capacitor banks. Known PCB-contaminated oil in substation equipment was replaced by June 2007. We are in material compliance with these rules.< /div>

Coal Ash Management Facilities. Minnesota Power generates coal ash at all five of its steam electric stations. Two facilities store ash in onsite impoundments (ash ponds) with engineered liners and containment dikes. Another facility stores dry ash in a landfill with an engineered liner and leachate collection system. Two facilities generate a combined wood and coal ash that is either land applied as an approved beneficial use, or trucked to state permitted landfills. On June 18, 2010, the EPA proposed regulations for coal combustion residuals generated by the electric utility sector. The proposal sought comments on three general regulatory classifications for coal ash. Public comments were submitted to the EPA in November 2010. We are unable to predict the compliance costs we mi ght incur; however, there is the possibility they could have a material impact.

Manufactured Gas Plant Site. We are reviewing and addressing environmental conditions at a former manufactured gas plant site within the City of Superior, Wisconsin, and formerly operated by SWL&P. We have been working with the WDNR to determine the extent of contamination and the remediation of contaminated locations. At December 31, 2010, we have a $0.5 million liability for this site, and a corresponding regulatory asset as we expect recovery of remediation costs to be allowed by the PSCW.


ALLETE 2010 Form 10-K
19 
 

 

Environmental Matters (Continued)

Employees

At December 31, 2010, ALLETE had 1,465 employees, of which 1,401 were full-time.

Minnesota Power and SWL&P had an aggregate 596 employees who are members of the IBEW Local 31. Throughout 2009, Minnesota Power, SWL&P and IBEW Local 31 worked towards settling new contracts to replace those which expired on January 31, 2009. Final resolution of the union contracts for Minnesota Power and SWL&P occurred in January and March 2010, respectively. Both agreements were retroactive to February 1, 2009, and were to expire on January 31, 2012. In December 2010, the current agreements were extended through January 31, 2014.

BNI Coal had 141 employees, of which 105 are members of the IBEW Local 1593. BNI Coal and IBEW Local 1593 have a labor agreement which expires on March 31, 2011. BNI Coal and the IBEW Local 1593 have a good working relationship and management anticipates negotiation with no disruption of service.

Availability of Information

ALLETE makes its SEC filings, including its annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and any amendments to those reports, available free of charge on ALLETE’s website www.allete.com, as soon as reasonably practicable after they are electronically filed with or furnished to the SEC.



ALLETE 2010 Form 10-K
20 
 

 

Executive Officers of the Registrant

As of February 16, 2011, these are the executive officers of ALLETE:

Executive Officers
Initial Effective Date
   
Alan R. Hodnik, Age 51
 
President and Chief Executive Officer – ALLETE
May 1, 2010
President – ALLETE
May 1, 2009
Chief Operating Officer – Minnesota Power
May 8, 2007
Senior Vice President – Minnesota Power Operations
September 22, 2006
Vice President – Minnesota Power Generation
May 1, 2005
   
Robert J. Adams, Age 48
 
Vice President – Business Development and Chief Risk Officer
May 13, 2008
Vice President – Utility Business Development
February 1, 2004
   
Deborah A. Amberg, Age 45
 
Senior Vice President, General Counsel and Secretary
January 1, 2006
Vice President, General Counsel and Secretary
March 8, 2004
   
Steven Q. DeVinck, Age 51
 
Controller and Vice President – Business Support
December 5, 2009
Controller
July 12, 2006
   
David J. McMillan, Age 49
 
Senior Vice President - Marketing, Regulatory and Public Affairs – ALLETE
January 1, 2006
Executive Vice President - Minnesota Power
January 1, 2006
Senior Vice President - Marketing and Public Affairs – ALLETE
October 2, 2003
   
Mark A. Schober, Age 55
 
Senior Vice President and Chief Financial Officer
July 1, 2006
Senior Vice President and Controller
February 1, 2004
   
Donald W. Stellmaker, Age 53
 
Treasurer
July 24, 2004

All of the executive officers have been employed by us for more than five years in executive or management positions. Prior to election to the positions shown above, the following executive held other positions with the Company during the past five years:

 
Mr. DeVinck was Director of Nonutility Business Development, and Assistant Controller.

There are no family relationships between any of the executive officers. All officers and directors are elected or appointed annually.
 

The present term of office of the executive officers listed above extends to the first meeting of our Board of Directors after the next annual meeting of shareholders. Both meetings are scheduled for May 10, 2011.


ALLETE 2010 Form 10-K
21 
 

 

Item 1A.
Risk Factors

The factors discussed below, as well as other information set forth in this Form 10-K, which could materially affect our business, financial condition and results of operations should be carefully considered. The risks and uncertainties described below are not the only ones facing our Company. Additional risks and uncertainties that we are not presently aware of, or that we currently consider immaterial, may also affect our business operations. Our business, financial condition or results of operations could suffer if the concerns set forth below are realized.

Our results of operations could be negatively impacted if our Large Power Customers experience an economic down cycle or fail to compete effectively in the global economy.

Our ten Large Power Customers accounted for approximately 31 percent of our 2010 consolidated operating revenue (23 percent in 2009; 36 percent in 2008). One of these customers accounted for 12.5 percent of consolidated revenue in 2010 (8.0 percent in 2009; 12.5 percent in 2008). These customers are involved in cyclical industries that by their nature are adversely impacted by economic downturns and are subject to strong competition in the global marketplace. An economic downturn or failure to compete effectively in the global economy could have a material adverse effect on their operations and, consequently, could negatively impact our results of operations if we are unable to remarket at similar prices the energy that would otherwise have been sold to such Large Power Customers.

Our operations are subject to extensive governmental regulations that may have a negative impact on our business and results of operations.

We are subject to prevailing governmental policies and regulatory actions, including those of the United States Congress, state legislatures, the FERC, the MPUC, the PSCW, the NDPSC and the EPA. These governmental regulations relate to allowed rates of return, financings, industry rate and cost structure, acquisition and disposal of assets and facilities, construction and operation of generation, transmission and distribution facilities (including the ongoing maintenance and reliable operation of such facilities under established reliability standards), recovery of purchased power and capital investments, and present or prospective wholesale and retail competition. The Company must also comply with permits, licenses and any other authorizations as issued by local, state and federal agencies. These governmental regulations significantly influence our operating environment and may affect our ability to recover costs from our customers. We are required to have numerous permits, approvals and certificates from the agencies that regulate our business. We believe the necessary permits, approvals and certificates have been obtained for existing operations and that our business is conducted in accordance with applicable laws; however, we are unable to predict the impact on our operating results from the future regulatory activities of any of these agencies. Changes in regulations or the imposition of additional regulations could have an adverse impact on our results of operations.

Our ability to obtain rate adjustments to maintain current rates of return depends upon regulatory action under applicable statutes and regulations, and we cannot provide assurance that rate adjustments will be obtained or current authorized rates of return on capital will be earned. Minnesota Power and SWL&P from time to time file rate cases with, or otherwise seek cost recovery authorization from, federal and state regulatory authorities. If Minnesota Power and SWL&P do not receive an adequate amount of rate relief in rate cases, if rates are reduced, if increased rates are not approved on a timely basis or costs are otherwise unable to be recovered through rates, or if cost recovery is not achieved at the requested level, we may experience an adverse impact on our financial condition, results of operations and cash flows. We are unable to predict the impact on our business and operations results from future regulatory activities of any of these agencies.

Our operations could be adversely impacted by emissions of GHG that are linked to global climate change.

The scientific community generally accepts that emissions of GHGs are linked to global climate change. Climate change creates physical and financial risk. These physical risks could include, but are not limited to, increased or decreased precipitation and water levels in lakes and rivers; increased temperatures; and the intensity and frequency of extreme weather events. These all have the potential to affect the Company’s business and operations.

Our operations could be adversely impacted by initiatives designed to reduce the impact of GHG emissions such as CO2 from our generating facilities.

Proposals for voluntary initiatives and mandatory controls to reduce GHGs such as CO2, a by-product of burning fossil fuels, are being discussed within Minnesota, among a group of Midwestern states that includes Minnesota, in the United States Congress and worldwide. We currently use coal as the primary fuel in 95 percent of the energy produced by our generating facilities.

There is significant uncertainty regarding whether new laws or regulations will be adopted to reduce GHGs and what effect any such laws or regulations would have on us. If any new laws or regulations are implemented, they could have a material effect on our results of operations, particularly if implementation costs are not fully recoverable from customers.



ALLETE 2010 Form 10-K
22 
 

 

Risk Factors (Continued)

The cost of environmental emission allowances could have a negative financial impact on our operations.

Minnesota Power is subject to numerous environmental laws and regulations which cap emissions and could require us to purchase environmental emissions allowances to be in compliance. The laws and regulations expose us to emission allowance price fluctuations which could increase our cost of operations. We are unable to predict the emission allowance pricing, regulatory recovery or ratepayer impact of these costs.

Our operations pose certain environmental risks which could adversely affect our results of operations and financial condition.

We are subject to extensive environmental laws and regulations affecting many aspects of our present and future operations, including air quality, water quality, waste management, reclamation, hazardous wastes and natural resources. These laws and regulations can result in increased capital, operating and other costs, as a result of compliance, remediation, containment and monitoring obligations, particularly with regard to laws relating to power plant emissions.

The laws could, among other things, restrict the output of some existing facilities, limit the use of some fuels required for the production of electricity, require additional pollution control equipment and otherwise increase costs and lead to other environmental considerations.

These laws and regulations generally require us to obtain and comply with a wide variety of environmental licenses, permits, inspections and other approvals. Both public officials and private individuals may seek to enforce applicable environmental laws and regulations. We cannot predict the financial or operational outcome of any related litigation that may arise.

There are no assurances that existing environmental regulations will not be revised or that new regulations seeking to protect the environment will not be adopted or become applicable to us. Revised or additional regulations which result in increased compliance costs or additional operating restrictions, particularly if those costs are not fully recoverable from customers, could have a material effect on our results of operations.

We cannot predict with certainty the amount or timing of all future expenditures related to environmental matters because of the difficulty of estimating such costs. There is also uncertainty in quantifying liabilities under environmental laws that impose joint and several liability on all potentially responsible parties. Violations of certain statutes, rules and regulations could expose ALLETE to third party disputes and potentially significant monetary penalties, as well as other sanctions for non-compliance.

We rely on access to financing sources and capital markets. If we do not have access to sufficient capital in the amount and at the times needed, our ability to execute our business plans, make capital expenditures or pursue acquisitions that we may otherwise rely on for future growth could be impaired.

We rely on access to capital markets as sources of liquidity for capital requirements not satisfied by our cash flow from operations. If we are not able to access capital on satisfactory terms, the ability to implement our business plans may be adversely affected. Market disruptions or a downgrade of our credit ratings may increase the cost of borrowing or adversely affect our ability to access financial markets. Such disruptions could include a severe prolonged economic downturn, the bankruptcy of non-affiliated industry leaders in the same line of business or financial services sector, deterioration in capital market conditions, or volatility in commodity prices.

The operation and maintenance of our generating facilities involve risks that could significantly increase the cost of doing business.

The operation of generating facilities involves many risks, including start-up operations risks, breakdown or failure of facilities, the dependence on a specific fuel source, failures in the supply availability or transportation of fuel, or the impact of unusual or adverse weather conditions or other natural events, as well as the risk of performance below expected levels of output or efficiency, the occurrence of any of which could result in lost revenue, increased expenses or both. A significant portion of Minnesota Power’s facilities were constructed many years ago. In particular, older generating equipment, even if maintained in accordance with good engineering practices, may require significant capital expenditures to keep operating at peak efficiency. This equipment is also likely to require periodic upgrading and improveme nts due to changing environmental standards and technological advances. Minnesota Power could be subject to costs associated with any unexpected failure to produce power, including failure caused by breakdown or forced outage, as well as repairing damage to facilities due to storms, natural disasters, wars, terrorist acts and other catastrophic events. Further, our ability to successfully and timely complete capital improvements to existing facilities or other capital projects is contingent upon many variables and subject to substantial risks. Should any such efforts be unsuccessful, we could be subject to additional costs and/or the write-off of our investment in the project or improvement.


ALLETE 2010 Form 10-K
23 
 

 

Risk Factors (Continued)

Our electrical generating operations must have adequate and reliable transmission and distribution facilities to deliver electricity to our customers.

Minnesota Power depends on transmission and distribution facilities owned by other utilities, and transmission facilities primarily operated by MISO, as well as its own such facilities, to deliver the electricity we produce and sell to our customers, and to other energy suppliers. If transmission capacity is inadequate, our ability to sell and deliver electricity may be hindered. We may have to forego sales or we may have to buy more expensive wholesale electricity that is available in the capacity-constrained area. In addition, any infrastructure failure that interrupts or impairs delivery of electricity to our customers could negatively impact the satisfaction of our customers with our service.

The price of electricity and fuel may be volatile.

Volatility in market prices for electricity and fuel may result from:

 
·
severe or unexpected weather conditions;
 
·
seasonality;
 
·
changes in electricity usage;
 
·
transmission or transportation constraints, inoperability or inefficiencies;
 
·
availability of competitively priced alternative energy sources;
 
·
changes in supply and demand for energy;
 
·
changes in power production capacity;
 
·
outages at Minnesota Power’s generating facilities or those of our competitors;
 
·
changes in production and storage levels of natural gas, lignite, coal, crude oil and refined products;
 
·
natural disasters, wars, sabotage, terrorist acts or other catastrophic events; and
 
·
federal, state, local and foreign energy, environmental, or other regulation and legislation.

Since fluctuations in fuel expense related to our regulated utility operations are passed on to customers through our fuel clause, risk of volatility in market prices for fuel and electricity mainly impacts our sales to Other Power Suppliers.

We are dependent on a qualified workforce and good labor relations.

The success of our business heavily depends on the leadership of our executive officers and key employees to implement our business strategy. The inability to maintain a qualified workforce including, but not limited to, executives, key employees and employees with specialized skills, may negatively affect our ability to service our existing or new customers, or successfully manage our business or achieve our business objectives. Personnel costs may increase due to competitive pressures or terms of collective bargaining agreements with union employees. We believe we have good relations with our members of the IBEW Local 31 and IBEW Local 1593, and have contracts in place through January 31, 2014, and March 31, 2011, respectively.

Market performance and other changes could decrease the value of pension and postretirement health benefit plan assets, which then could require significant additional funding and increase annual expense.

The performance of the capital markets affects the values of the assets that are held in trust to satisfy future obligations under our pension and postretirement benefit plans. We have significant obligations to these plans and the Company holds significant assets in these trusts. These assets are subject to market fluctuations and will yield uncertain returns, which may fall below our projected rates of return. A decline in the market value of the pension and postretirement benefit plan assets will increase the funding requirements under our benefit plans if the actual asset returns do not recover. Additionally, our pension and postretirement benefit plan liabilities are sensitive to changes in interest rates. As interest rates decrease, the liabilities increase, potentially increasing benefit expense and funding requirements. Our pen sion and postretirement health care costs are generally recoverable in our electric rates as allowed by our regulators. However, there is no certainty that regulators will continue to allow recovery of these rising costs in the future.

Emerging technologies or cyber attacks may adversely affect our business operations.

While the pace of technology development has been increasing, the basic concept upon which our business model is based of how energy is produced, sold and delivered has remained essentially unchanged. The development of new commercially viable technology in areas such as distributed generation, energy storage and energy conservation could fundamentally change demand for our current products and services. A security breach of our information systems could subject us to financial harm associated with theft or inappropriate release of certain types of information, including, but not limited to, customer or system operating information. Cyber attacks could affect our operations and subject us to financial harm.


ALLETE 2010 Form 10-K
24
 

 

Risk Factors (Continued)

The current downturn in economic conditions may adversely affect our strategy to sell our Florida real estate.

ALLETE intends to sell its Florida land assets at reasonable prices over time or in bulk transactions when opportunities arise. However, if weak market conditions continue for an extended period of time, the impact on our future operations would be the continuation of little to no sales while still incurring operating expenses such as community development district assessments and property taxes. This could result in annual net operating losses similar to 2010. Additionally, because of the current real estate market conditions in Florida, we cannot predict when we will be able to sell these assets at prices we find to be reasonable.


Item 1B.
Unresolved Staff Comments

None.


Item 2.
Properties

Properties are included in the discussion of our businesses in Item 1 and are incorporated by reference herein.


Item 3.
Legal Proceedings

Material legal and regulatory proceedings are included in the discussion of our businesses in Item 1 and are incorporated by reference herein.

In January 2011, the Company was named as a defendant in a lawsuit in the Sixth Judicial District for the State of Minnesota by one of our customer’s, United Taconite, LLC, property and business interruption insurers. In October 2006, United Taconite experienced a fire as a result of the failure of certain electrical protective equipment. The equipment at issue in the incident was not owned, designed, or installed by Minnesota Power, but Minnesota Power had provided testing and calibration services related to the equipment. The lawsuit alleges approximately $20 million in damages related to the fire. The Company believes that it has strong defenses to the lawsuit and intends to vigorously assert such defenses. An expense related to any damages that may result from the lawsuit has not been recorded as of December 31 , 2010, because a potential loss is not currently probable or reasonably estimable; however, the Company believes it has adequate insurance coverage for potential loss.

We are involved in litigation arising in the normal course of business. Also in the normal course of business, we are involved in tax, regulatory and other governmental audits, inspections, investigations and other proceedings that involve state and federal taxes, safety, compliance with regulations, rate base and cost of service issues, among other things. We do not expect the outcome of these matters to have a material effect on our financial position, results of operations or cash flows.


Item 4.
Removed and Reserved


ALLETE 2010 Form 10-K
25 
 

 

Part II

Item 5.
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Our common stock is listed on the NYSE under the symbol ALE. We have paid dividends, without interruption, on our common stock since 1948. A quarterly dividend of $0.445 per share on our common stock will be paid on March 1, 2011, to the holders of record on February 15, 2011.

The following table shows dividends declared per share, and the high and low prices for our common stock for the periods indicated as reported by the NYSE:


 
2010
2009
 
Price Range
Dividends
Price Range
Dividends
Quarter
High
Low
Declared
High
Low
Declared
             
First
$34.00
$29.99
$0.44
$33.27
$23.35
$0.44
Second
37.87
32.90
0.44
29.14
24.45
0.44
Third
37.75
33.16
0.44
34.57
27.75
0.44
Fourth
37.95
34.81
0.44
35.29
32.23
0.44
Annual Total
   
$1.76
   
$1.76

At February 1, 2011, there were approximately 28,000 common stock shareholders of record.

Common Stock Repurchases. During the fourth quarter of 2010, approximately 118,000 shares of ALLETE common stock were purchased on the open market and subsequently reissued under our Invest Direct program.



ALLETE 2010 Form 10-K
26 
 

 

Item 6.
Selected Financial Data


 
2010
 
2009
 
2008
 
2007
 
2006
Millions
                 
Operating Revenue
$907.0
 
$759.1
 
$801.0
 
$841.7
 
$767.1
Operating Expenses
771.2
 
653.1
 
679.2
 
710.0
 
628.8
Income from Continuing Operations Before
    Non-Controlling Interest – Net of Tax
74.8
 
60.7
 
83.0
 
89.5
 
81.9
Income (Loss) from Discontinued Operations – Net of Tax
 
 
 
 
(0.9)
Net Income
74.8
 
60.7
 
83.0
 
89.5
 
81.0
     Less: Non-Controlling Interest in Subsidiaries
(0.5)
 
(0.3)
 
0.5
 
1.9
 
4.6
Net Income Attributable to ALLETE
75.3
 
61.0
 
82.5
 
87.6
 
76.4
Common Stock Dividends
60.8
 
56.5
 
50.4
 
44.3
 
40.7
Earnings Retained in Business
$14.5
 
$4.5
 
$32.1
 
$43.3
 
$35.7
Shares Outstanding – Millions
                 
Year-End
35.8
 
35.2
 
32.6
 
30.8
 
30.4
Average (a)
                 
Basic
34.2
 
32.2
 
29.2
 
28.3
 
27.8
Diluted
34.3
 
32.2
 
29.3
 
28.4
 
27.9
Diluted Earnings (Loss) Per Share
                 
Continuing Operations
$2.19
 
$1.89
 
$2.82
 
$3.08
 
$2.77
Discontinued Operations (b)
 
 
 
 
(0.03)
Total Diluted Earnings (Loss) Per Share
$2.19
 
$1.89
 
$2.82
 
$3.08
 
$2.74
Total Assets
$2,574.9
 
$2,393.1
 
$2,134.8
 
$1,644.2
 
$1,533.4
Long-Term Debt
771.6
 
695.8
 
588.3
 
410.9
 
359.8
Return on Common Equity
7.8%
 
6.9%
 
10.7%
 
12.4%
 
12.1%
Common Equity Ratio
56%
 
57%
 
58%
 
64%
 
63%
Dividends Declared per Common Share
$1.76
 
$1.76
 
$1.72
 
$1.64
 
$1.45
Dividend Payout Ratio
81%
 
93%
 
61%
 
53%
 
53%
Book Value Per Share at Year-End
$27.25
 
$26.39
 
$25.37
 
$24.11
 
$21.90
Capital Expenditures by Segment
                 
Regulated Operations
$256.4
 
$299.2
 
$317.0
 
$220.6
 
$107.5
Investments and Other
3.6
 
4.5
 
5.9
 
3.3
 
1.9
Total Capital Expenditures
$260.0
 
$303.7
 
$322.9
 
$223.9
 
$109.4

(a)  
Excludes unallocated ESOP shares.
(b)  
Operating results of our Water Services businesses are included in discontinued operations, and accordingly, amounts have been restated for 2006.


ALLETE 2010 Form 10-K
27 
 

 

Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with our consolidated financial statements and notes to those statements and the other financial information appearing elsewhere in this report. In addition to historical information, the following discussion and other parts of this report contain forward-looking information that involves risks and uncertainties. Readers are cautioned that forward-looking statements should be read in conjunction with our disclosures in this Form 10-K under the headings: “Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995” located on page 5 and “Risk Factors” located in Item 1A. The risks and uncertainties described in this Form 10-K are not the only ones facing our Company. Additional risks and uncertainties that we are not presently aware of, o r that we currently consider immaterial, may also affect our business operations. Our business, financial condition or results of operations could suffer if the concerns set forth in this Form 10-K are realized.

Overview

Regulated Operations includes our regulated utilities, Minnesota Power and SWL&P, as well as our investment in ATC, a Wisconsin-based regulated utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. Minnesota Power provides regulated utility electric service in northeastern Minnesota to 146,000 retail customers and wholesale electric service to 16 municipalities. Minnesota Power also provides regulated utility electric service to 1 private utility in Wisconsin. SWL&P provides regulated electric, natural gas and water service in northwestern Wisconsin to 15,000 electric customers, 12,000 natural gas customers and 10,000 water customers. Our regulated utility operations include retail and wholesale activities und er the jurisdiction of state and federal regulatory authorities. (See Item 1. Business – Regulated Operations – Regulatory Matters.)

Investments and Other is comprised primarily of BNI Coal, our coal mining operations in North Dakota, and ALLETE Properties, our Florida real estate investment. This segment also includes a small amount of non-rate base generation, approximately 7,000 acres of land available-for-sale in Minnesota, and earnings on cash and investments.

ALLETE is incorporated under the laws of Minnesota. Our corporate headquarters are in Duluth, Minnesota. Statistical information is presented as of December 31, 2010, unless otherwise indicated. All subsidiaries are wholly owned unless otherwise specifically indicated. References in this report to “we,” “us” and “our” are to ALLETE and its subsidiaries, collectively.

2010 Financial Overview

The following net income discussion summarizes a comparison of the year ended December 31, 2010, to the year ended December 31, 2009.

Net income attributable to ALLETE for 2010 was $75.3 million, or $2.19 per diluted share, compared to $61.0 million, or $1.89 per diluted share, for 2009. Net income for 2010 was reduced by $4.0 million, or $0.12 per share, due to the elimination of the deduction for expenses reimbursed under Medicare Part D. Net income for 2009 was reduced by a $4.9 million, or $0.15 per share, after-tax charge for the accrual of retail rate refunds related to 2008. Earnings per diluted share decreased $0.14 compared to 2009 as a result of additional shares of common stock outstanding in 2010. (See Note 11. Common Stock and Earnings Per Share.)

Regulated Operations net income attributable to ALLETE was $79.8 million in 2010 compared to $65.9 million in 2009. In 2009, net income was reduced by a $4.9 million after-tax charge for the accrual of retail rate refunds related to 2008. The increase in 2010 is attributable to higher MPUC-approved retail rates (subject to final order), increased sales to our Large Power Customers, and increased transmission-related margins. In addition, 2010 reflected an increase of $0.3 million in after-tax earnings from our investment in ATC over 2009. These increases were significantly offset by higher operating and maintenance, depreciation, interest and income tax expenses. Also included in the fourth quarter of 2010 was a $3.4 million after-tax charge for the write-off of a deferred fuel cl ause regulatory asset related to the 2008 rate case. Income tax expense included a $3.6 million charge resulting from the elimination of the deduction for expenses reimbursed under Medicare Part D.

Investments and Other reflected a net loss attributable to ALLETE of $4.5 million in 2010 compared to a $4.9 million net loss in 2009. The decrease in net loss was primarily due to lower equity losses on investments of $2.6 million and an income tax benefit (including interest) resulting from the completion of a state income tax audit of $1.1 million. These items were partially offset by the transfer of a small generating facility to our Regulated Operations in November 2009. Income tax expense also included a $0.4 million charge resulting from the elimination of the deduction for expenses reimbursed under Medicare Part D. In 2010, ALLETE Properties recorded a net loss of $4.8 million compared to a net loss of $4.7 million in 2009.

ALLETE 2010 Form 10-K
28 
 

 

2010 Compared to 2009

(See Note 2. Business Segments for financial results by segment.)

Regulated Operations

Operating revenue increased $153.7 million, or 23 percent, from 2009 due to higher MPUC-approved retail rates (subject to final order) and the absence of an accrual for prior year retail rate refunds related to our 2008 retail rate case. Also contributing to increased revenue were higher transmission revenues, higher fuel and purchased power recoveries, and increased sales to retail and municipal customers. These increases were partially offset by lower sales to Other Power Suppliers.

Interim retail rates authorized by the MPUC in December 2009 and effective January 1, 2010, resulted in an increase of approximately $52 million. (See Note 5. Regulatory Matters.)

Retail rate refunds related to 2008 resulting from the 2009 MPUC Order were recorded in 2009 and resulted in a reduction in 2009 revenues of $7.6 million.

Transmission revenues increased $24.3 million from 2009 primarily due to revenues related to the 250 kV DC transmission line purchased from Square Butte on December 31, 2009. (See Note 10. Commitments, Guarantees and Contingencies.)

Higher fuel and purchased power recoveries, along with an increase in retail and municipal kilowatt-hour sales, combined for a total revenue increase of $115.5 million. Fuel and purchased power recoveries increased due to an increase in fuel and purchased power expense. (See Fuel and Purchased Power Expense.)

The increase in kilowatt-hour sales to retail and municipal customers has been partially offset by decreased revenue from marketing power to Other Power Suppliers, which decreased $50.3 million in 2010. Sales to Other Power Suppliers are sold at market-based prices into the MISO market on a daily basis or through bilateral agreements of various durations.

Total kilowatt-hour sales to retail and municipal customers increased 29.1 percent from 2009 primarily due to an increase in sales to our taconite customers. Increased revenue from industrial sales was partially offset by a 32.3 percent decrease in kilowatt-hour sales to Other Power Suppliers.
 
Kilowatt-hours Sold
2010
2009
Quantity
Variance
%
Variance
Millions
       
Regulated Utility
       
 
Retail and Municipals
       
   
Residential
1,150
1,164
(14)
(1.2) %
   
Commercial
1,433
1,420
13
0.9 %
   
Industrial
6,804
4,475
2,329
52.0 %
   
Municipals
1,006
992
14
1.4 %
     
Total Retail and Municipals
10,393
8,051
2,342
 29.1 %
 
Other Power Suppliers
2,745
4,056
(1,311)
(32.3) %
Total Regulated Utility Kilowatt-hours Sold
13,138
12,107
1,031
8.5 %

Revenue from electric sales to taconite customers accounted for 24 percent of consolidated operating revenue in 2010 (15 percent in 2009). The increase in revenue from our taconite customers was partially offset by a decrease in revenue from electric sales to Other Power Suppliers, which accounted for 12 percent of consolidated operating revenue in 2010 (20 percent in 2009). Revenue from electric sales to paper and pulp mills accounted for 9 percent of consolidated operating revenue in 2010 (9 percent in 2009). Revenue from electric sales to pipelines and other industrials accounted for 6 percent of consolidated operating revenue in 2010 (7 percent in 2009).

Operating expenses increased $118.0 million, or 21 percent, from 2009.

Fuel and Purchased Power Expense increased $45.6 million, or 16 percent, from 2009. The increase is partially due to higher fuel costs of $18.6 million resulting from a 10 percent increase in coal generation at our facilities and higher coal prices and related transportation. Purchased power expense also increased $19.1 million reflecting increased kilowatt-hour purchases partially offset by lower market prices. Also included in the fourth quarter of 2010 was a $5.4 million charge for the write-off of a deferred fuel clause regulatory asset related to the 2008 rate case, which was determined to be no longer probable of recovery in future utility rates. In 2009, Minnesota Power’s coal generating fleet produced fewer kilowatt-hours of electricity due to planned outages to im plement environmental retrofits and to respond to decreased demand from our taconite customers.


ALLETE 2010 Form 10-K
29 
 

 

2010 Compared to 2009 (Continued)
Regulated Operations (Continued)

Operating and Maintenance Expense increased $56.5 million, or 24 percent, from 2009 reflecting additional MISO expenses of $17.3 million relating to the 250 kV DC transmission line purchased from Square Butte on December 31, 2009, higher plant outage and maintenance of $10.2 million, higher environmental reagent expenses of $6.1 million, increased labor and employee benefit costs of $11.0 million and increased property taxes of $3.0 million due to more taxable plant.

Depreciation Expense increased $15.9 million, or 26 percent, from 2009 reflecting higher property, plant, and equipment placed in service.

Interest expense increased $4.0 million, or 14 percent, from 2009 primarily due to additional long-term debt issued to fund new capital investments and for general corporate purposes.

Income tax expense increased $16.2 million, or 46 percent, from 2009 primarily due to higher pretax income and a non-recurring income tax charge of $3.6 million from the deduction of expenses reimbursed under Medicare Part D.

Investments and Other

Operating revenue decreased $5.8 million, or 8 percent, from 2009 primarily due to a $4.8 million decrease in revenue from non-regulated generation. This decrease was primarily the result of the transfer of a small generating facility to Regulated Operations in November 2009. This decrease was partially offset by a $1.3 million increase in revenue at BNI Coal, which operates under a cost-plus contract and recorded higher sales revenue as a result of higher expenses in 2010. (See Operating Expense.)

Revenue at ALLETE Properties decreased $1.8 million from 2009 primarily due to lack of land sales during 2010. This was due to the continued lack of demand for our properties as a result of poor real estate market conditions in Florida. During 2009, ALLETE Properties sold approximately 35 acres of property located outside of its three main development projects for $3.8 million.

ALLETE Properties
2010
2009
Revenue and Sales Activity
Quantity
Amount
Quantity
Amount
Dollars in Millions
       
Revenue from Land Sales
       
Acres (a)
35
$3.8
Revenue from Land Sales (b)
 
 
3.8
Other Revenue (c)
 
$2.2
 
0.2
 Total ALLETE Properties Revenue
 
$2.2
 
$4.0

(a)
Acreage amounts are shown on a gross basis, including wetlands and non-controlling interest.
(b)
Reflects total contract sales price on closed land transactions. Land sales are recorded using a percentage-of-completion method.
(c)
Other Revenue includes a $0.7 million pretax gain in 2010 due to the return of seller-financed property from an entity which filed for voluntary Chapter 11 bankruptcy in June 2009. Also included in 2010 were $0.3 million of forfeited deposits and $0.3 million related to a lawsuit settlement.

Operating expenses increased $0.1 million from 2009 reflecting higher expenses at BNI Coal of $1.8 million primarily due to higher diesel fuel costs in 2010 which were recovered through the cost-plus contract (See Operating Revenue) and higher donation expenses of $1.5 million. These increases were mostly offset by lower non-regulated generation expenses of $2.2 million primarily due to the transfer of a small generating facility to Regulated Operations in November 2009, and decreased expenses at ALLETE Properties of $2.0 million due to reductions in the cost of land sold and general and administrative expenses.

Other income increased $4.8 million from 2009 primarily due to $4.4 million lower equity losses on investments in 2010.

Income Taxes – Consolidated

For the year ended December 31, 2010, the effective tax rate was 37.2 percent (33.7 percent for the year ended December 31, 2009). Excluding additional tax expense recorded as a result of the elimination of the deduction for expenses reimbursed under Medicare Part D, the 2010 effective tax rate was 33.8 percent. The effective tax rate deviated from the statutory rate (approximately 41 percent) by comparable amounts in each period due to deductions for depletion, investment tax credits, and wind production tax credits. The 2009 effective tax rate also included the effect of deductions for expenses reimbursed under Medicare Part D. (See Note 13. Income Tax Expense.)

ALLETE 2010 Form 10-K
30 
 

 

2009 Compared to 2008

(See Note 2. Business Segments for financial results by segment.)

Regulated Operations

Operating revenue decreased $30.4 million, or 4 percent, from 2008 due to lower fuel and purchased power recoveries, lower retail and municipal kilowatt-hour sales, lower natural gas revenue at SWL&P, and the accrual of prior year retail rate refunds related to our 2008 retail rate case. These decreases were partially offset by higher sales to Other Power Suppliers, higher FERC-approved wholesale rates and increased revenue from MPUC-approved current cost recovery riders.

Lower fuel and purchased power recoveries along with a decrease in retail and municipal kilowatt-hour sales combined for a total revenue reduction of $116.2 million. Fuel and purchased power recoveries decreased due to a reduction in fuel and purchased power expense. (See Fuel and Purchased Power Expense.) Total kilowatt-hour sales to retail and municipal customers decreased 26 percent from 2008 primarily due to idled production lines and temporary closures at some of our taconite customers’ plants.

Natural gas revenue at SWL&P was lower by $7.8 million due to a 27 percent decrease in the price of natural gas and a 9 percent decline in sales. Natural gas revenue is primarily a flow-through of the natural gas costs. (See Operating and Maintenance Expense.)

Prior year retail rate refunds resulting from the 2009 MPUC Order and August 2009 Reconsideration Order were recorded in 2009 and resulted in a reduction in revenues of $7.6 million.

The decrease in kilowatt-hour sales to retail and municipal customers has been partially offset by revenue from marketing the power to Other Power Suppliers, which increased $77.2 million in 2009. Sales to Other Power Suppliers are sold at market-based prices into the MISO market on a daily basis or through bilateral agreements of various durations.

Higher rates from the March 1, 2008, and February 1, 2009, FERC-approved wholesale rate increases for our municipal customers increased revenue by $13.2 million.

MPUC-approved current cost recovery rider revenue increased $10.4 million in 2009 from 2008 primarily due to increased capital expenditures related to our Boswell Unit 3 emission reduction plan.

Kilowatt-hours Sold
2009
2008
Quantity Variance
%
Variance
Millions
       
Regulated Utility
       
Retail and Municipals
       
Residential
1,164
1,172
(8)
(0.7)%
Commercial
1,420
1,454
(34)
(2.3)%
Industrial
4,475
7,192
(2,717)
(37.8)%
Municipals
992
1,002
(10)
(1.0)%
Total Retail and Municipals
8,051
10,820
(2,769)
(25.6)%
Other Power Suppliers
4,056
1,800
2,256
125.3%
Total Regulated Utility Kilowatt-hours Sold
12,107
12,620
(513)
(4.1)%

Revenue from electric sales to taconite customers accounted for 15 percent of consolidated operating revenue in 2009 (26 percent in 2008). The decrease in revenue from our taconite customers was partially offset by revenue from electric sales to Other Power Suppliers, which accounted for 20 percent of consolidated operating revenue in 2009 (10 percent in 2008). Revenue from electric sales to paper and pulp mills accounted for 9 percent of consolidated operating revenue in 2009 (9 percent in 2008). Revenue from electric sales to pipelines and other industrials accounted for 7 percent of consolidated operating revenue in 2009 (7 percent in 2008).

Operating expenses decreased $20.1 million, or 3 percent, from 2008.

Fuel and Purchased Power Expense decreased $26.1 million, or 9 percent, from 2008 due to decreased power generation attributable to lower kilowatt-hour sales, as well as a reduction in wholesale electricity prices. Minnesota Power’s coal generating fleet produced fewer kilowatt-hours of electricity due to planned outages to implement environmental retrofits and to respond to decreased demand from our taconite customers.

Operating and Maintenance Expense decreased $3.5 million from 2008 primarily due to $7.4 million in lower natural gas costs at SWL&P from a decline in the price and quantity of natural gas purchased. This decrease was partially offset by increased salaries and benefits costs, rate case expenses and plant maintenance.

ALLETE 2010 Form 10-K
31 
 

 

2009 Compared to 2008 (Continued)
Regulated Operations (Continued)

Depreciation Expense increased $9.5 million, or 19 percent, from 2008 reflecting higher property, plant and equipment balances placed in service.

Interest expense increased $4.3 million, or 18 percent, from 2008 primarily due to additional long-term debt issued to fund new capital investments and $0.5 million related to retail rate refunds.

Equity earnings increased $2.2 million, or 14 percent, from 2008 reflecting higher earnings from our increased investment in ATC. (See Note 6. Investment in ATC.)

Investments and Other

Operating revenue decreased $11.5 million, or 13 percent, from 2008 primarily due to a $14.3 million reduction in sales revenue at ALLETE Properties. In 2009, ALLETE Properties sold approximately 35 acres of properties located outside of our three main development projects for $3.8 million; no other sales were made in 2009 due to the continued lack of demand for our properties as a result of poor real estate market conditions in Florida. In 2008, ALLETE Properties sold approximately 219 acres of property located outside of our three main development projects for $6.3 million and recognized $3.7 million of previously deferred revenue under percentage of completion accounting. Revenue at ALLETE Properties in 2008 also included a pretax gain of $4.5 million from the sale of a retail shopping center in Winter Haven, Florida.

ALLETE Properties
2009
2008
Revenue and Sales Activity
Quantity
Amount
Quantity
Amount
Dollars in Millions
       
Revenue from Land Sales
       
Acres (a)
35
$3.8
219
$6.3
Contract Sales Price (b)
 
3.8
 
6.3
Revenue Recognized from Previously Deferred Sales
 
 
3.7
Revenue from Land Sales
 
3.8
 
10.0
Other Revenue (c)
 
0.2
 
8.3
 Total ALLETE Properties Revenue
 
$4.0
 
$18.3

(a)
Acreage amounts are shown on a gross basis, including wetlands and non-controlling interest.
(b)
Reflected total contract sales price on closed land transactions. Land sales are recorded using a percentage-of-completion method. (See Note 1. Operations and Significant Accounting Policies.)
(c)
Included a $4.5 million pretax gain from the sale of a shopping center in Winter Haven, Florida in 2008.

BNI Coal, which operates under a cost-plus contract, recorded additional revenue of $5.6 million as a result of higher expenses. (See Operating Expenses.)

Operating expenses decreased $6.0 million, or 7 percent, from 2008 reflecting lower fuel costs at our non-regulated generating facilities and decreased expense at ALLETE Properties due to both lower cost of land sold and reductions in general and administrative expenses. Expenses incurred as a result of a planned maintenance outage at a non-regulated generating facility in the third quarter of 2008 also contributed to the decrease in 2009. Partially offsetting these decreases was an increase in expense at BNI Coal due to higher permitting costs relating to mining expansion, a warranty credit in 2008, and dragline repairs in 2009. These costs were recovered through the cost-plus contract. (See Operating Revenue.)

Interest expense increased $3.2 million from 2008 primarily due to a decrease in the proportion of ALLETE interest expense assigned to Minnesota Power. We record interest expense for Minnesota Power regulated operations based on Minnesota Power’s authorized capital structure and allocate the balance to Investments and Other. Effective August 1, 2008, the proportion of interest expense assigned to Minnesota Power decreased to reflect the authorized capital structure inherent in interim rates that commenced on that date. Interest expense was also higher in 2009 as 2008 included a $0.6 million reversal of interest expense previously accrued due to the closing of a tax year.

Other income (expense) decreased $16.0 million from 2008 primarily due to a $6.5 million pretax gain realized from the sale of certain available-for-sale securities in the first quarter of 2008, lower earnings on excess cash in 2009 of $1.9 million, and $1.4 million of interest income related to tax benefits recognized in the third quarter of 2008. Losses incurred on emerging technology investments totaled $4.6 million in 2009, and were $3.9 million higher than similar losses recorded in 2008.

ALLETE 2010 Form 10-K
32 
 

 

2009 Compared to 2008 (Continued)

Income Taxes – Consolidated

For the year ended December 31, 2009, the effective tax rate was 33.7 percent (34.3 percent for the year ended December 31, 2008). The effective tax rate in each period deviated from the statutory rate (approximately 41 percent for 2009) due to deductions for expenses reimbursed under Medicare Part D, AFUDC-Equity, investment tax credits, wind production tax credits, and depletion. In addition, the effective rate for 2009 was impacted by lower pretax income. In 2008, non-recurring tax benefits due to the closing of a tax year and the completion of an IRS review totaled $4.6 million.


Critical Accounting Estimates

The preparation of financial statements and related disclosures in conformity with GAAP requires management to make various estimates and assumptions that affect amounts reported in the consolidated financial statements. These estimates and assumptions may be revised, which may have a material effect on the consolidated financial statements. Actual results may differ from these estimates and assumptions. These policies are discussed with the Audit Committee of our Board of Directors on a regular basis. The following represent the policies we believe are most critical to our business and the understanding of our results of operations.

Regulatory Accounting. Our regulated utility operations are accounted for in accordance with the accounting standards for the effects of certain types of regulation. These standards require us to reflect the effect of regulatory decisions in our financial statements. Regulatory assets or liabilities arise as a result of a difference between GAAP and the accounting treatment for certain items imposed by the regulatory agencies. Regulatory assets represent incurred costs that have been deferred as they are probable for recovery in customer rates. Regulatory liabilities represent obligations to make refunds to customers and amounts collected in rates for which the related costs have not yet been incurred.

The recoverability of regulatory assets is periodically assessed by considering factors such as, but not limited to, changes in regulatory rules and rate orders issued by applicable regulatory agencies. The assumptions and judgments used by regulatory authorities may have an impact on the recovery of costs, the rate of return on invested capital, and the timing and amount of assets to be recovered by rates. A change in these assumptions may result in a material impact on our results of operations. (See Note 5. Regulatory Matters.)

Valuation of Investments. Our long-term investment portfolio includes the real estate assets of ALLETE Properties, debt and equity securities consisting primarily of securities held to fund employee benefits, and other investments. Our policy is to review these investments for impairment on a quarterly basis by assessing such factors as continued commercial viability of products, cash flow and earnings. Our consideration of possible impairment for our real estate assets requires us to make judgments with respect to the current fair values of this real estate. The poor market conditions for real estate in Florida at this time require us to make certain assumptions in the determination of fair values due to the lack of current comparable sales activity. Any impairment would reduce t he carrying value of our investments and be recognized as a loss. In 2010 there were $0.8 million of impairment losses recognized ($1.1 million in 2009; none in 2008). (See Note 7. Investments.)

Pension and Postretirement Health and Life Actuarial Assumptions. We account for our pension and postretirement benefit obligations in accordance with the accounting standards for defined benefit pension and other postretirement plans. These standards require the use of assumptions in determining our obligations and annual cost of our pension and postretirement benefits. An important actuarial assumption for pension and other postretirement benefit plans is the expected long-term rate of return on plan assets. In establishing the expected long-term return on plan assets, we take into account the actual long-term historical performance of our plan assets, the actual long-term historical performance for the type of securities we are invested in, and apply the historical performance utilizing the target allocation of our plan assets to forecast an expected long-term return. Our expected rate of return is then selected after considering the results of each of those factors, in addition to considering the impact of current economic conditions, if applicable, on long-term historical returns. Our pension asset allocation at December 31, 2010, was approximately 52 percent equity securities, 29 percent debt, 14 percent private equity, and 5 percent real estate. Our postretirement health and life asset allocation at December 31, 2010, was approximately 58 percent equity securities, 33 percent debt, and 9 percent private equity. Equity securities consist of a mix of market capitalization sizes with domestic and international securities. We currently use an expected long-term rate of return of 8.5 percent in our actuarial determination of our pension and other postretirement expense. We review our expected long-term rate of return assumption annually and will adjust it to respond to any changing market conditions. A one-quarter percent decrease in the expected long-term rate of return would increase the annual expense for pension and other postretirement benefits by approximately $1.3 million, pretax.


ALLETE 2010 Form 10-K
33 
 

 

Critical Accounting Estimates (Continued)

The discount rate is computed using a yield curve adjusted for ALLETE’s projected cash flows to match our plan characteristics. The yield curve is determined using high-quality long-term corporate bond rates at the valuation date. We believe the adjusted discount curve used in this comparison does not materially differ in duration and cash flows from our pension and other postretirement obligation. In 2010, we used a discount rate of 5.81 percent for our actuarial determination of our pension and other postretirement expense. We review our discount rate annually and will adjust it to respond to any changing market conditions. A one-quarter percent decrease in the discount rate would increase the annual expense for pension and other postretirement benefits by approximately $1.8 million, pretax. (See Note 15. Pension and Other Post retirement Benefit Plans.)

Taxation. We are required to make judgments regarding the potential tax effects of various financial transactions and our ongoing operations to estimate our obligations to taxing authorities. These tax obligations include income, real estate and sales/use taxes. Judgments related to income taxes require the recognition in our financial statements of the largest tax benefit of a tax position that is “more-likely-than-not” to be sustained on audit. Tax positions that do not meet the “more-likely-than-not” criteria are reflected as a tax liability in accordance with the accounting standards for uncertainty in income taxes. We record a valuation allowance against our deferred tax assets to the extent it is more-likely-than-not that some portion or all of the deferred tax asset will not be realized.


Outlook

ALLETE is an energy company committed to earning a financial return that rewards our shareholders, allows for reinvestment in our businesses and sustains growth. The company has as a key objective of achieving minimum average EPS growth of 5 percent per year and maintaining a competitive dividend payout. To accomplish this, we intend to take the actions necessary to earn our allowed rate of return in our regulated businesses, while we pursue growth initiatives in renewable energy, transmission and other energy-centric businesses.

We believe that over the long term, less carbon intensive and more sustainable renewable energy sources will play an increasingly important role in our nation’s energy mix. We intend to develop additional renewable resources which will be used to meet the renewable supply requirements of our regulated businesses. In addition, we intend to establish a non-regulated renewable business to produce and sell renewable energy to others, subject to securing long-term power purchase agreements prior to construction of facilities. The establishment of a non-regulated renewable business is subject to appropriate MPUC approvals.

For wind development, we will capitalize on our existing presence in North Dakota through BNI Coal, our recently acquired DC transmission line and our Bison 1 and 2 wind projects. Through BNI Coal we have a long-term business presence and established landowner relationships in North Dakota. See Renewable Energy below for more discussion on the DC line acquisition and our Bison 1 and 2 projects.

We also plan to make investments in upper Midwest transmission opportunities that strengthen or enhance the regional transmission grid, or take advantage of our geographical location between sources of renewable energy and end users. Minnesota Power is participating with other regional utilities in making regional transmission investments as a member of the CapX2020 initiative. In addition, we plan to make additional investments to fund our pro rata share of ATC’s future capital expansion program. Both the CapX2020 initiative and our investment in ATC are discussed in more detail under Transmission below.

We are also exploring investing in other energy-centric businesses that will complement our non-regulated renewable energy business, or leverage demand trends related to transmission, environmental control or energy efficiency.

ALLETE intends to sell its Florida land assets at reasonable prices, over time or in bulk transactions, and reinvest the proceeds in its growth initiatives. ALLETE Properties does not intend to acquire additional real estate.

Regulated Operations. Minnesota Power’s long-term strategy is to maintain its competitively priced production of energy, while complying with environmental permit conditions and renewable requirements, and earn our allowed rate of return. Keeping the production of energy competitive enables Minnesota Power to effectively compete in the wholesale power markets, and minimizes retail rate increases to help maintain the viability of its customers. As part of maintaining cost competitiveness, Minnesota Power intends to reduce its exposure to possible future carbon and GHG legislation by reshaping its generation portfolio, over time, to reduce its reliance on coal. We will monitor and review environmental proposals and may challenge those that add considerable cost with limited en vironmental benefit. Current economic conditions require a very careful balancing of the benefit of further environmental controls with the impacts of the costs of those controls on our customers as well as on the Company and its competitive position. We will pursue current cost recovery riders to recover environmental and renewable investments, and will work with our legislators and regulators to earn a fair return.


ALLETE 2010 Form 10-K
34 
 

 

Outlook (Continued)
Rates (Continued)

Rates. Entities within our Regulated Operations segment file for periodic rate revisions with the MPUC, the FERC or the PSCW.

2010 Rate Case. On November 2, 2009, Minnesota Power filed an $81 million retail rate increase request to recover the costs of significant investments to ensure current and future system reliability, enhance environmental performance, and bring new renewable energy to northeastern Minnesota. Interim rates were put into effect on January 1, 2010, and were originally estimated to increase revenues by $48.5 million in 2010. In April 2010, we adjusted our initial filing for events that had occurred since November 2009 – primarily increased sales to our industrial customers – resulting in a retail rate increase request of $72 million, a return on equity request of 11.25 percent, and a capital structure consisting of 54.29 percent equity and 45.71 percent deb t. As a result of these increased sales, interim rates were approximately $52 million for 2010.

On November 2, 2010, Minnesota Power received a written order from the MPUC approving a retail electric rate increase of approximately $54 million, a 10.38 percent return on common equity and a 54.29 percent equity ratio, subject to reconsideration. In a hearing on January 19, 2011, the MPUC denied all reconsideration requests. It is estimated final rates will be implemented in the second quarter of 2011, after review and acceptance of the required compliance filing. Minnesota Power will continue to collect interim rates from its customers until the new rates go into effect. We expect no interim rate refunds will be issued.

FERC-Approved Wholesale Rates. Minnesota Power’s non-affiliated municipal customers consist of 16 municipalities in Minnesota and 1 private utility in Wisconsin. SWL&P, a wholly-owned subsidiary of ALLETE, is also a private utility in Wisconsin and a customer of Minnesota Power. In 2008, Minnesota Power entered into formula-based rate contracts with these customers. The rates included in these contracts are calculated using a cost-based formula methodology that is set at the beginning of the year using estimated costs, and provides for a true-up calculation for actual costs. The estimated true-up is recorded in the current year, then finalized and billed or paid to customers in the following year. The contracts include a termination clause requiring a 3 year notice to terminate. To date, no termination notices have been received. Under the formula-based rates provision, wholesale rates, including the estimate to true-up to actual costs, were comparable in 2010 to 2009, and are projected to be comparable in 2011.

Wisconsin Rates. SWL&P’s 2011 retail rates are based on a 2010 PSCW retail rate order, effective January 1, 2011, and allows for a 10.9 percent return on common equity. The new rates reflect a 2.4 percent average increase in retail utility rates for SWL&P customers (a 12.80 percent increase in water rates, a 2.49 percent increase in natural gas rates and a 0.68 percent increase in electric rates). On an annualized basis, the rate increase will generate approximately $2 million in additional revenue.

Industrial Customers. Electric power is one of several key inputs in the taconite mining, paper production, and pipeline industries. In 2010, approximately 52 percent (37 percent in 2009) of our Regulated Utility kilowatt-hour sales were made to our industrial customers, which includes the taconite, paper and pulp, and pipeline industries.

During 2010, the domestic steel industry rebounded from the low levels of production seen in 2009. According to the American Iron and Steel Institute (AISI), United States raw steel production operated at approximately 70 percent of capacity in 2010, up significantly from 2009, which was at approximately 50 percent capacity. Domestic steel demand rebounded for automobiles and durable goods, while structural and construction steel products were still down. Annual taconite production in Minnesota rebounded from the 18 million tons produced in 2009 to approximately 36 million tons in 2010 (40 million tons in 2008).

Projections from the AISI translate to U.S. steel production levels at about 75 percent of capacity in 2011. There has been a general historical correlation between U.S. steel production and Minnesota taconite production. Based on these projections, Minnesota Power expects 2011 taconite production in Minnesota to be in the range of 2010 production levels. We will continue to market available power to Other Power Suppliers, when necessary, in an effort to mitigate the earnings impact of lower industrial sales. Other Power Supply sales are dependent upon the availability of generation and are sold at market-based prices into the MISO market on a daily basis or through bilateral agreements of various durations.

Minnesota Power’s paper and pulp customers ran at, or very near, full capacity for the majority of 2010, as the paper industry stabilized and pricing and demand levels recovered following the global recession.

Our pipeline customers have a common reliance on the importation of Canadian crude oil. After near capacity operations in the past, our two pipeline customers have completed expansion projects to transport Western Canadian crude oil reserves (Alberta Oil Sands) to United States markets. Access to traditional Midwest markets is being expanded to Southern markets as the Canadian supply is displacing domestic production and deliveries imported from the Gulf Coast.

ALLETE 2010 Form 10-K
35 
 

 

Outlook (Continued)
Industrial Customers (Continued)

Prospective Additional Load. Minnesota Power is, and will continue, to pursue new wholesale and retail loads in and around its service territory. Currently, several companies in northeastern Minnesota continue to progress in development of natural resource based projects that represent long-term growth potential and load diversity for Minnesota Power. These potential projects are in the ferrous and non-ferrous mining and steel industries and include PolyMet, Mesabi Nugget, and United States Steel Corporation’s expansion at its Keewatin taconite facility. Additionally, Essar Steel Limited Minnesota (Essar) continues to work with local agencies on infrastructure development for its taconite mine, direct reduction iron-making facility, and steel mill within the Nashwauk, Minnesota municipal utility service boundary. Some, or potentially all, of these projects may not materialize. If some or all of these projects are completed, Minnesota Power could serve up to 600 MW of new load.

PolyMet. Minnesota Power has executed a long-term contract with PolyMet, a new industrial customer planning to start a copper-nickel and precious metal (non-ferrous) mining operation in northeastern Minnesota. PolyMet began work on a Supplemental Draft Environmental Impact Statement (SDEIS) in 2010. The SDEIS further addresses environmental issues, most notably those dealing with the land exchange between PolyMet and the U.S. Forest Service (USFS). This land exchange is critical to the mine site development. The EPA and the USFS joined as lead agencies in the SDEIS process. Release of the SDEIS is expected in mid-2011, to be followed by a public review and comment period. Assuming successful completion of the Environmental Impact Statement process and subsequent issuance of permits, Minnesota Power could begin to supply between 45-70 MW of power in approximately 2013 through a 10-year long-term power supply contract that begins upon start-up.

Mesabi Nugget. The construction of the initial Mesabi Nugget facility is essentially complete and the first production occurred in January 2010. Steel Dynamics, Inc., the principal owner of Mesabi Nugget, has indicated that production ramp-up activities will continue in 2011, with full production levels expected to be reached during the year. Mesabi Nugget is currently pursuing permits for taconite mining activities on lands formerly mined by Erie Mining Company and LTV Steel Mining Company near Hoyt Lakes, Minnesota. Permits to mine are expected by the end of 2011. Mining activities could begin in 2012, which would allow Mesabi Nugget to self-supply its own taconite concentrates and would result in increased electrical loads above the current 15 MW long-term power supply contrac t with Mesabi Nugget lasting at least through 2017.

Keewatin Taconite. In February 2008, United States Steel Corporation announced its intent to restart a pellet line at its Keewatin Taconite processing facility (Keetac). This pellet line, which has been idled since 1980, could be restarted and updated as part of a $300 million investment, bringing about 3.6 million tons of additional pellet making capability to northeastern Minnesota. The Final Environmental Impact Statement has been judged to be adequate by the Minnesota Department of Natural Resources. Approval by the US Army Corps of Engineers is expected in the first quarter of 2011. Production could begin in 2014.

City of Nashwauk. On February 7, 2011, Minnesota Power signed a 10-year electric service agreement with the City of Nashwauk (the City). Pending FERC approval, the agreement is effective upon expiration of the current electric service agreement in place with the City in 2012. Under the new agreement, Minnesota Power will provide all of the City’s electric service requirements, including any development within the municipality. This could include service beginning in 2012, for Essar’s proposed taconite facility of approximately 100 MW which is currently under construction, as well as Essar’s proposed approximate 300 MW expansion to include a direct reduced iron and steelmaking facility being consi dered for 2015.

Renewable Energy. In February 2007, Minnesota enacted a law requiring 25 percent of Minnesota Power’s total retail energy sales in Minnesota to come from renewable energy sources by 2025. The law also requires Minnesota Power to meet interim milestones of 12 percent by 2012, 17 percent by 2016, and 20 percent by 2020. Minnesota Power has developed a plan to meet the renewable goals set by Minnesota and has included this plan in its 2010 Integrated Resource Plan, filed October 5, 2009, with the MPUC. The law allows the MPUC to modify or delay meeting a milestone if implementation will cause significant ratepayer cost or technical reliability issues. If a utility is not in compliance with a milestone, the MPUC may order the utility to construct facilities, purchase renewable energy or purchase renewable energy credits. We are currently on track to meet the 12 percent renewable energy sales milestone by 2012.

Our renewable energy strategy is currently being executed through two long-term power purchase agreements with NextEra Energy for wind energy in North Dakota (Oliver Wind I and II), Taconite Ridge Wind I, our wind facility located in northeastern Minnesota, our Bison 1 and Bison 2 wind development projects and our Hibbard biomass upgrade project.

North Dakota Wind Development. On December 31, 2009, we purchased an existing 250 kV DC transmission line from Square Butte for $69.7 million. The 465-mile transmission line runs from Center, North Dakota, to Duluth, Minnesota. We use this line to transport increasing amounts of wind energy from North Dakota while gradually phasing out coal-based electricity currently being delivered to our system over this transmission line from Square Butte’s lignite coal-fired generating unit.


ALLETE 2010 Form 10-K
36 
 

 

Outlook (Continued)
Renewable Energy (Continued)

Bison 1 is a two phase, 82 MW wind project in North Dakota. All permitting has been received and the first phase was completed in 2010. Phase one included construction of a 22-mile, 230 kV transmission line and the installation of 16 2.3 MW wind turbines, all of which were in-service at the end of 2010. Phase two is expected to be completed late in 2011 and consists of the installation of 15 3.0 MW wind turbines. Bison 1 is expected to have a total capital cost of approximately $177 million, of which $121 million was spent through December 31, 2010. In 2009, the MPUC approved Minnesota Power’s petition seeking current cost recovery eligibility for investments and expenditures related to Bison 1, and in July 2010, the MPUC approved our petition establishing rates effective August 1, 2010.

Bison 2 is a 105 MW wind project in North Dakota which, if approved by the MPUC, is expected to be completed by the end of 2012. Total project cost is estimated to be approximately $160 million, and construction would begin upon the receipt of all regulatory and permitting approvals. We will seek both MPUC approval for the project and NDPSC site permit approval in the first quarter of 2011. We will file for current cost recovery eligibility for Bison 2 from the MPUC once the project and related permitting have been approved.

Manitoba Hydro. Minnesota Power has a long-term power purchase agreement with Manitoba Hydro expiring in 2015. (See Item 1. Business – Power Supply.) In addition, on April 30, 2010, Minnesota Power signed a definitive agreement with Manitoba Hydro, subject to MPUC approval, to purchase surplus energy beginning in May 2011 through April 2022. This energy-only transaction primarily consists of surplus hydro energy on Manitoba Hydro’s system that is delivered to Minnesota Power on a non-firm basis. The pricing is based on forward market prices. Under this agreement with Manitoba Hydro, Minnesota Power will be purchasing at least one million MWh of energy over the contract term. On September 1, 2010, we filed a petition with the MPUC to approve our PPA with Manitoba Hydro. On October 28, 2010, the OES filed comments recommending approval.

Hibbard Biomass Upgrade Project. Hibbard is a 50 MW biomass/coal/natural gas facility located in Duluth, Minnesota. The upgrade project, which was approved by the MPUC in September 2009, is designed to leverage existing assets to increase biomass renewable energy production at an expected total cost of approximately $22 million. Upon receipt of any necessary permitting approvals, construction would begin in 2011, and could be completed by the end of 2012. We also plan to seek current cost recovery authorization for the project from the MPUC in 2011.

Integrated Resource Plan. On October 5, 2009, Minnesota Power filed with the MPUC its 2010 Integrated Resource Plan, a comprehensive estimate of future capacity needs within Minnesota Power’s service territory. Minnesota Power does not anticipate the need for new base load generation within the Minnesota Power service territory through 2025, and plans to meet estimated future customer demand while achieving:

·  
Increased system flexibility to adapt to volatile business cycles and varied future industrial load scenarios;
·  
Reductions in the emission of GHGs (primarily CO2); and
·  
Compliance with mandated renewable energy standards.

To achieve these objectives over the coming years, we plan to reshape our generation portfolio by adding 300 to 500 MW of renewable energy to our generation mix, and we are exploring options to incorporate peaking or intermediate resources. The first phase of the Bison 1 wind project in North Dakota was put into service in 2010 and the second phase is expected to be in service in late 2011, increasing our renewable generation by 82 MW. The Bison 2 105 MW wind project, if approved by the MPUC, along with the Hibbard Biomass Upgrade Project, will continue our expansion into renewable energy to meet our Integrated Resource Plan goals.

We project average annual long-term growth, excluding prospective additional load from industrial and municipal customers, of approximately one percent in electric usage through 2025. We will also focus on conservation and demand side management to meet the energy savings goals established in Minnesota legislation. We expect MPUC action on our Integrated Resource Plan filing in 2011.

Transmission. We plan to make investments in upper Midwest transmission opportunities that strengthen or enhance the regional transmission grid. These investments include the CapX2020 initiative, investments in our transmission assets, and our investment in ATC.

CapX2020. Minnesota Power is a participant in the CapX2020 initiative which represents an effort to ensure electric transmission and distribution reliability in Minnesota and the surrounding region for the future. CapX2020, which consists of electric cooperatives, municipals and investor-owned utilities, including Minnesota’s largest transmission owners, has assessed the transmission system and projected growth in customer demand for electricity through 2020. Studies show that the region's transmission system will require major upgrades and expansion to accommodate increased electricity demand as well as support renewable energy expansion through 2020. As future CapX2020 projects are identified, Minnesota Power ma y elect to participate on a project–by-project basis.

ALLETE 2010 Form 10-K
37 
 

 

Outlook (Continued)
Transmission (Continued)

Minnesota Power is currently participating in three CapX2020 projects: the Fargo to St. Cloud project, the Monticello to St. Cloud project, which together total a 238-mile, 345 kV line from Fargo to Monticello, and the 70-mile, 230 kV line between Bemidji and Minnesota Power’s Boswell Energy Center near Grand Rapids, Minnesota. Based on projected costs of the three transmission lines and the percentage agreements among participating utilities, Minnesota Power plans to invest between $100 million and $125 million in the CapX2020 initiative through 2015, of which $11.3 million was spent through December 31, 2010.

In July 2010, the MPUC granted a route permit for the 28-mile 345 kV transmission line between Monticello and St. Cloud. Construction of the project is expected to be complete in late 2011. The 210-mile 345 kV transmission line from St. Cloud to Fargo is expected to be complete by 2015. Construction for the Bemidji to Grand Rapids 230 kV line project commenced in January 2011.

We have an approved cost recovery rider in place for certain transmission expenditures, and our current billing factor was approved by the MPUC in June 2009. The billing factor allows us to charge our retail customers on a current basis for the costs of constructing certain transmission facilities plus a return on the capital invested. In our 2010 rate case we moved completed transmission projects from the current cost recovery rider to base rates. In July 2010, we filed for an updated billing factor that includes additional transmission projects and expenses, including CapX2020 projects, which we expect to be approved in early 2011.

Investment in ATC. At December 31, 2010, our equity investment was $93.3 million, representing an approximate 8 percent ownership interest. ATC rates are based on a FERC approved 12.2 percent return on common equity dedicated to utility plant. ATC has identified $3.4 billion in future projects needed over the next 10 years to improve the adequacy and reliability of the electric transmission system as well as to meet regional needs based on economic benefits and public policy initiatives for renewable energy. This investment is expected to be funded through a combination of internally generated cash, debt, and investor contributions. As additional opportunities arise, we plan to make additional investments in ATC through general capital calls based upon our pro-rata ownership inte rest in ATC. On January 31, 2011, we invested an additional $0.8 million in ATC. In total, we expect to invest approximately $2 million throughout 2011. (See Note 6. Investment in ATC.)

Investments and Other

BNI Coal. In 2010, BNI Coal sold approximately 3.8 million tons of coal (4.2 million tons in 2009) and anticipates 2011 sales to be similar to 2009.

ALLETE Properties. ALLETE Properties is our Florida real estate investment. Our current strategy for the assets is to complete and maintain key entitlements and infrastructure improvements without requiring significant additional investment, and sell the portfolio over time or in bulk transactions. ALLETE intends to sell its Florida land assets at reasonable prices when opportunities arise, and reinvest the proceeds in ALLETE’s growth initiatives. ALLETE does not intend to acquire additional Florida real estate.

Our two major development projects are Town Center and Palm Coast Park. Ormond Crossings is a third major project that is currently in the planning stage. On February 16, 2010, the City of Ormond Beach, Florida, approved a new Development Agreement for Ormond Crossings. The agreement will facilitate development of the project as currently planned. Separately, Lake Swamp wetland mitigation bank was permitted on land that was previously part of Ormond Crossings.

Summary of Development Projects
 
Total
Residential
Non-residential
Land Available-for-Sale
Ownership
Acres (a)
Units (b)
Sq. Ft. (b, c)
Current Development Projects
       
Town Center
80%
862
2,177
2,225,200
 Palm Coast Park
100%
3,842
3,564
3,056,800
Total Current Development Projects
 
4,704
5,741
5,282,000
Proposed Development Project
       
 Ormond Crossings
100%
2,924
2,950
3,215,000
Other
       
Lake Swamp Wetland Mitigation Project
100%
3,049
(d)
(d)
Total of Development Projects
 
10,677
8,691
8,497,000

(a)
Acreage amounts are approximate and shown on a gross basis, including wetlands and non-controlling interest.
(b)
Estimated and includes non-controlling interest. Density at build out may differ from these estimates.
(c)
Depending on the project, non-residential includes retail commercial, non-retail commercial, office, industrial, warehouse, storage and institutional.
(d)
Lake Swamp wetland mitigation bank is a regionally significant wetlands mitigation bank that was permitted by the St. Johns River Water Management District in 2008 and by the U.S. Army Corps of Engineers in December 2009. Wetland mitigation credits will be used at Ormond Crossings and will also be available for sale to developers of other projects that are located in the bank’s service area.

ALLETE 2010 Form 10-K
38 
 

 

Outlook (Continued)
Investments and Other (Continued)

ALLETE Properties also has 1,979 acres of other land available-for-sale outside of the three development projects.

ALLETE intends to sell its Florida land assets at reasonable prices when opportunities arise. However, if weak market conditions continue for an extended period of time, the impact on our future operations would be the continuation of little to no sales while still incurring operating expenses such as community development district assessments and property taxes.

Income Taxes. ALLETE’s aggregate federal and multi-state statutory tax rate is approximately 41 percent for 2011. On an ongoing basis, ALLETE has certain tax credits and other tax adjustments that reduce the statutory rate to the effective tax rate. These tax credits and adjustments historically have included items such as investment tax credits, wind production tax credits, AFUDC-Equity, domestic manufacturer’s deduction, depletion, as well as other items. The annual effective rate can also be impacted by such items as changes in income from operations before non-controlling interest and income taxes, state and federal tax law changes that become effec tive during the year, business combinations and configuration changes, tax planning initiatives and resolution of prior years’ tax matters. Due primarily to increased production tax credits as a result of additional wind generation, we expect our effective tax rate to be approximately 30 percent for 2011.


Liquidity and Capital Resources

Liquidity Position. ALLETE is well-positioned to meet the Company’s immediate cash flow needs. At December 31, 2010, we had a cash and cash equivalents balance of approximately $45 million, $153 million in available consolidated lines of credit which included a committed, syndicated, unsecured revolving line of credit of $150 million, and a debt-to-capital ratio of 44 percent. As of December 31, 2010, we project sufficient capital availability.

Capital Structure. ALLETE’s capital structure for each of the last three years is as follows:

Year Ended December 31
2010
%
2009
%
2008
%
Millions
           
Common Equity
$976.0
55
$929.5
57
$827.1
57
Non-Controlling Interest
9.0
1
9.5
9.8
1
Long-Term Debt (Including Current Maturities)
785.0
44
701.0
43
598.7
42
Short-Term Debt
1.0
1.9
6.0
 
$1,771.0
100
$1,641.9
100
$1,441.6
100


Cash Flows. Selected information from ALLETE’s Consolidated Statement of Cash Flows is as follows:

Year Ended December 31
2010
2009
2008
Millions
     
Cash and Cash Equivalents at Beginning of Period
$25.7
$102.0
$23.3
Cash Flows from (used for)
     
Operating Activities
228.7
137.4
153.6
Investing Activities
(250.9)
(320.0)
(276.1)
Financing Activities
41.4
106.3
201.2
    Change in Cash and Cash Equivalents
19.2
(76.3)
78.7
Cash and Cash Equivalents at End of Period
$44.9
$25.7
$102.0

Operating Activities. Cash from operating activities was $228.7 million for 2010 ($137.4 million for 2009; $153.6 million for 2008). Cash from operating activities was higher in 2010 primarily due to higher net income, higher depreciation expense related to increased plant in service in 2010, and collections of income tax receivables due to bonus depreciation as a result of the American Recovery and Reinvestment Act of 2009 (the Act) and tax planning initiatives. This increase was partially offset by higher cash contributions to the defined benefit pension and other postretirement benefit plans in 2010 of $26.5 million and $12.8 million respectively ($20.9 million and $9.3 million in 2009).

Cash from operating activities was lower in 2009 than 2008 primarily due to lower net income, an increase in accounts receivable, and higher deferred regulatory assets, partially offset by higher deferred tax and depreciation expense. Accounts receivable increased due to a receivable for 2009 income tax refunds primarily resulting from substantial income tax deductions under bonus depreciation. Deferred regulatory assets increased due to the collection of certain current cost recovery rider revenue attributable to 2009 being deferred into a later year. Deferred tax expense increased also due to the bonus depreciation provisions of the Act, and depreciation expense increased in conjunction with the increase in property, plant and equipment.

ALLETE 2010 Form 10-K
39 
 

 

Liquidity and Capital Resources (Continued)

Investing Activities. Cash used for investing activities was $250.9 million for 2010 ($320.0 million for 2009; $276.1 million for 2008). Cash used for investing activities was lower than 2009 reflecting decreased capital additions to property, plant and equipment, and lower investments in ATC.

Cash used for investing activities was higher in 2009 than 2008 reflecting increased capital additions to property, plant, and equipment. Capital additions to property, plant, and equipment increased due to the purchase of an existing 250 kV DC transmission line for $69.7 million offset by a decrease in other capital additions because of the completion of some major capital projects in 2008 and 2009. In addition, 2008 included higher net sales of short-term investments and proceeds from the sale of assets (retail shopping center) in Winter Haven, Florida.

Financing Activities. Cash from financing activities was $41.4 million for 2010 ($106.3 million for 2009; $201.2 million for 2008). Cash from financing activities was lower in 2010 due to higher internally generated cash and lower capital expenditures which resulted in lower common stock issuances and less incremental external financing required. Cash from financing activities in 2010 included new debt issuances of $155 million compared to $111.4 million in 2009, of which $65 million of the proceeds were used to pay off the syndicated revolving credit facility that was drawn in late 2009.

Cash from financing activities was lower in 2009 than 2008 due to less debt and common stock issuance. During 2009, $111.4 million of debt was issued, while in 2008 $198.7 million of debt was issued. During 2009, proceeds from common stock issuances totaled $65.2 million, while in 2008, proceeds from common stock issuances totaled $71.1 million. Lower debt and common stock issuance in 2009 was a result of issuing capital in 2008 ahead of the need for this capital.

Working Capital. Additional working capital, if and when needed, generally is provided by consolidated bank lines of credit or the sale of securities or commercial paper. As of December 31, 2010, we had available consolidated bank lines of credit aggregating $153.0 million, the majority of which expire in January 2012. We expect to enter into new bank lines of credit during 2011 to replace the expiring facility. In addition, we had 1.9 million original issue shares of our common stock available for issuance through Invest Direct, our direct stock purchase and dividend reinvestment plan, and 3.1 million original issue shares of common stock available for issuance through a distribution agreement with KCCI, Inc. The amount and timing of future sales of our securities will depend upon market conditions and our specific needs.

Securities. In February 2010, we issued $80.0 million in principal amount of unregistered First Mortgage Bonds (Bonds) in the private placement market in three series. We used the proceeds from the sale of Bonds to pay down $65 million on our syndicated revolving credit facility, to fund utility capital investments and for general corporate purposes.

In August 2010, we issued $75.0 million in principal amount of unregistered First Mortgage Bonds in the private placement market in two series. We used the proceeds to fund utility capital expenditures and for general corporate purposes.

For the February and August 2010 bond issuances we have the option to prepay all or a portion of the Bonds at our discretion, subject to a make-whole provision. The Bonds are subject to the terms and conditions of our utility mortgage. The Bonds were sold in reliance on an exemption from registration under Section 4(2) of the Securities Act of 1933, as amended, to institutional accredited investors. (See Note 9. Short-Term and Long-Term Debt.)

We entered into a distribution agreement with KCCI, Inc., in February 2008, as amended, with respect to the issuance and sale of up to an aggregate of 6.6 million shares of our common stock, without par value. For the year ended December 31, 2010, 0.2 million shares of common stock were issued under this agreement resulting in net proceeds of $6.0 million. During 2009, 1.7 million shares of common stock were issued for net proceeds of $51.9 million. As of December 31, 2010, approximately 3.1 million shares of common stock remain available for issuance pursuant to the amended distribution agreement. The shares issued in 2010 and 2009 were offered for sale, from time to time, in accordance with the terms of the amended distribution agreement pursuant to Registration Statement No. 333-147965. The remaining shares may b e offered for sale, from time to time, in accordance with the terms of the amended distribution agreement pursuant to Registration Statement No. 333-170289.

In 2010, we issued 0.5 million shares of common stock through Invest Direct, the Employee Stock Purchase Plan and the RSOP, resulting in net proceeds of $14.5 million. These shares of common stock were registered under Registration Statement Nos. 333-150681, 333-105225, and 333-124455, respectively.

Financial Covenants. See Note 9. Short-Term and Long-Term Debt for information regarding our financial covenants.

Off-Balance Sheet Arrangements. Off-balance sheet arrangements are discussed in Note 10. Commitments, Guarantees and Contingencies.

Contractual Obligations and Commercial Commitments. Minnesota Power has contractual obligations and other commitments that will need to be funded in the future, in addition to its capital expenditure programs. Following is a summarized table of contractual obligations and other commercial commitments at December 31, 2010.

ALLETE 2010 Form 10-K
40 
 

 

Liquidity and Capital Resources (Continued)
Contractual Obligations and Commercial Commitments (Continued)

 
Payments Due by Period
Contractual Obligations
 
Less than
1 to 3
4 to 5
After
As of December 31, 2010
Total
1 Year
Years
Years
5 Years
Millions
         
Long-Term Debt
$1,322.5
$54.3
$210.3
$105.8
$952.1
Pension
102.0
7.8
74.2
20.0
Other Postretirement Benefit Plans
68.5
12.9
35.9
19.7
Operating Lease Obligations
86.8
8.1
25.6
15.0
38.1
Uncertain Tax Positions (a)
Unconditional Purchase Obligations
444.6
124.4
106.0
43.4
170.8
 
$2,024.4
$207.5
$452.0
$203.9
$1,161.0

(a)  
Excludes $12.3 million of non-current unrecognized tax benefits due to uncertainty regarding the timing of future cash payments related to uncertain tax positions.

Long-Term Debt. Our long-term debt obligations, including long-term debt due within one year, represent the principal amount of bonds, notes and loans which are recorded on our consolidated balance sheet, plus interest. The table above assumes that the interest rate in effect at December 31, 2010, remains constant through the remaining term. (See Note 9. Short-Term and Long-Term Debt.)

Pension and Other Postretirement Benefit Plans. Our pension and other postretirement benefit plan obligations represent our current estimate of employer contributions. The Pension Protection Act changed the minimum funding requirements for defined benefit pension plans beginning in 2008. Pension contributions will be dependent on several factors including realized asset performance, future discount rate and other actuarial assumptions, IRS and other regulatory requirements, and contributions required to avoid benefit restrictions for the pension plans. Funding for the other postretirement benefit plans is impacted by realized asset performance, future discount rate and other actuarial assumptions, and utility regulatory requirements. These amounts are estimates and will chan ge based on actual market performance, changes in interest rates and any changes in governmental regulations. (See Note 15. Pension and Other Postretirement Benefit Plans.)

Unconditional Purchase Obligations. Unconditional purchase obligations represent our Square Butte power purchase agreements, minimum purchase commitments under coal and rail contracts, and purchase obligations for certain capital expenditure projects. (See Note 10. Commitments, Guarantees and Contingencies.)

Under our power purchase agreement with Square Butte that extends through 2026, we are obligated to pay our pro rata share of Square Butte’s costs based on our entitlement to the output of Square Butte’s 455-MW coal-fired generating unit near Center, North Dakota. Minnesota Power’s payment obligation will be suspended if Square Butte fails to deliver any power, whether produced or purchased, for a period of one year. Square Butte’s fixed costs consist primarily of debt service. The table above reflects our share of future debt service based on our output entitlement of 50 percent. This debt service may be reduced if the contingent power sales agreement with Minnkota Power goes into effect in 2013. For further information on Square Butte see Note 10. Commitments, Guarantees and Contingencies.

We have two wind power purchase agreements with an affiliate of NextEra Energy to purchase the output from two wind facilities, Oliver Wind I and Oliver Wind II located near Center, North Dakota. We began purchasing the output from Oliver Wind I, a 50-MW facility, in December 2006 and the output from Oliver Wind II, a 48-MW facility in November 2007. Each agreement is for 25 years and provides for the purchase of all output from the facilities at fixed prices. There are no fixed capacity charges, and we only pay for energy as it is delivered to us.

Credit Ratings. Access to reasonably priced capital markets is dependent in part on credit and ratings. Our securities have been rated by Standard & Poor’s and by Moody’s. Rating agencies use both quantitative and qualitative measures in determining a company’s credit rating. These measures include business risk, liquidity risk, competitive position, capital mix, financial condition, predictability of cash flows, management strength and future direction. Some of the quantitative measures can be analyzed through a few key financial ratios, while the qualitative ones are more subjective. The disclosure of these credit ratings is not a recommendation to buy, sell or hold our securities. Ratings are subject to revision or withdrawal at any time by the assigning r ating organization. Each rating should be evaluated independently of any other rating.

ALLETE 2010 Form 10-K
41 
 

 

Liquidity and Capital Resources (Continued)
Credit Ratings (Continued)

Credit Ratings
Standard & Poor’s
Moody’s
Issuer Credit Rating
BBB+
Baa1
Commercial Paper
A-2
P-2
Senior Secured
   
First Mortgage Bonds (a)
A–
A2
Unsecured Debt
   
Collier County Industrial Development Revenue Bonds – Fixed Rate
BBB

(a)
Includes collateralized pollution control bonds.

Common Stock Dividends. ALLETE is committed to providing an attractive, secure dividend to its shareholders while at the same time funding its growth. The Company’s long-term objective is to maintain a dividend payout ratio similar to our peers and provide for future dividend increases. In 2010, we paid out 81 percent (93 percent in 2009; 61 percent in 2008) of our per share earnings in dividends. On January 20, 2011, our Board of Directors declared a dividend of $0.445 per share, which is payable on March 1, 2011, to shareholders of record at the close of business on February 15, 2011.

Capital Requirements

ALLETE’s projected capital expenditures for the years 2011 through 2015 are presented in the table below. Actual capital expenditures may vary from the estimates due to changes in forecasted plant maintenance, regulatory decisions or approvals, future environmental requirements, base load growth, capital market conditions or executions of new business strategies.

Capital Expenditures
2011
2012
2013
2014
2015
Total
Millions
           
Regulated Utility Operations
           
 
Base and Other
$88
$91
$92
$94
$99
$464
 
Current Cost Recovery (a)
           
   
Renewable
126
117
2
8
1
254
   
Transmission (b)
15
33
49
25
3
125
 
Total Current Cost Recovery
141
150
51
33
4
379
Regulated Utility Capital Expenditures
229
241
143
127
103
843
Other
 
22
25
14
8
8
77
Total Capital Expenditures
$251
$266
$157
$135
$111
$920

(a)  
Estimated current capital expenditures recoverable outside of a rate case.
(b)  
Transmission capital expenditures related to CapX2020 are estimated at approximately $115 million.

We intend to finance expenditures from both internally generated funds and incremental debt and equity. Based on our above anticipated capital expenditures, we project our rate base to grow by approximately 20 percent through 2015. Pending environmental regulations could result in significant capital expenditures in the future that are not included in the table above. Currently, future CapX2020 projects are under discussions. Minnesota Power may elect to participate on a project by project basis.

Environmental and Other Matters

Our businesses are subject to regulation of environmental matters by various federal, state and local authorities. Due to future restrictive environmental requirements through legislation and/or rulemaking, we anticipate that potential expenditures for environmental matters will be material and will require significant capital investments. We are unable to predict the outcome of the issues discussed in Note 10. Commitments, Guarantees and Contingencies. (See Item 1. Business – Environmental Matters.)

Market Risk

Securities Investments

Available-for-Sale Securities. At December 31, 2010, our available-for-sale securities portfolio consisted of securities established to fund certain employee benefits and auction rate securities. (See Note 7. Investments.)

Interest Rate Risk. We are exposed to risks resulting from changes in interest rates as a result of our issuance of variable rate debt. We manage our interest rate risk by varying the issuance and maturity dates of our fixed rate debt, limiting the amount of variable rate debt, and continually monitoring the effects of market changes in interest rates. The table below presents the long-term debt obligations and the corresponding weighted average interest rate at December 31, 2010.

ALLETE 2010 Form 10-K
42 
 

 

Liquidity and Capital Resources (Continued)
Interest Rate Risk (Continued)

 
Expected Maturity Date
Interest Rate Sensitive
             
Fair
Financial Instruments
2011
2012
2013
2014
2015
Thereafter
Total
Value
Dollars in Millions
               
Long-Term Debt
               
Fixed Rate
$1.6
$1.6
$71.1
$19.5
$0.6
$617.3
$711.7
$723.4
Average Interest Rate – %
5.9
5.9
5.2
6.9
5.3
6.0
5.8
 
                 
Variable Rate
$11.8
$1.7
$2.8
$15.7
$41.3
$73.3
$73.3
Average Interest Rate – % (a)
3.5
1.7
0.6
0.5
0.3
1.0
 

(a)  
Assumes rate in effect at December 31, 2010, remains constant through remaining term.

Interest rates on variable rate long-term debt are reset on a periodic basis reflecting prevailing market conditions. Based on the variable rate debt outstanding at December 31, 2010, and assuming no other changes to our financial structure, an increase of 100 basis points in interest rates would impact the amount of pretax interest expense by $0.7 million. This amount was determined by considering the impact of a hypothetical 100 basis point increase to the average variable interest rate on the variable rate debt outstanding as of December 31, 2010.

Commodity Price Risk. Our regulated utility operations incur costs for power and fuel (primarily coal and related transportation) in Minnesota, and power and natural gas purchased for resale in our regulated service territory in Wisconsin. Our Minnesota regulated utility’s exposure to price risk for these commodities is significantly mitigated by the current ratemaking process and regulatory environment, which allows recovery of fuel costs in excess of those included in base rates. Conversely, costs below those in base rates result in a credit to our ratepayers. We seek to prudently manage our customers’ exposure to price risk by entering into contracts of various durations and terms for the purchase of power and coal and related transportation costs (in Minnesota) and natural gas (in Wisconsin).

Power Marketing. Our power marketing activities consist of (1) purchasing energy in the wholesale market to serve our regulated service territory when retail energy requirements exceed generation output and (2) selling excess available energy and purchased power. From time to time, our utility operations may have excess energy that is temporarily not required by retail and wholesale customers in our regulated service territory. We actively sell to the wholesale market to optimize the value of this energy.

We are exposed to credit risk primarily through our power marketing activities. We use credit policies to manage credit risk, which includes utilizing an established credit approval process and monitoring counterparty limits.


Recently Adopted Accounting Standards.

Recently adopted accounting standards are discussed in Note 1.


Item 7A.
Quantitative and Qualitative Disclosures about Market Risk

See Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Market Risk for information related to quantitative and qualitative disclosure about market risk.


Item 8.
Financial Statements and Supplementary Data

See our consolidated financial statements as of December 31, 2010 and 2009, and for each of the three years in the period ended December 31, 2010, and supplementary data, which are indexed in Item 15(a).


Item 9.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Not applicable.



ALLETE 2010 Form 10-K
43 
 

 

Item 9A.
Controls and Procedures

Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures

Under the supervision and with the participation of management, including our principal executive officer and principal financial officer, we conducted an evaluation of the effectiveness of the design and operation of ALLETE’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 (“Exchange Act”)). Based upon those evaluations, our principal executive officer and principal financial officer have concluded that such disclosure controls and procedures are effective to provide assurance that information required to be disclosed in ALLETE’s reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms and such information is accumulated and communi cated to our management, including our principal executive and principal financial officer, to allow timely decisions regarding required disclosure.

Management’s Report on Internal Control Over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f). Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our evaluation under the framework in Internal Control—Integrated Framework, our management concluded that our internal control over financial reporting was effective as of December 31, 2010.

The effectiveness of the Company’s internal control over financial reporting as of December 31, 2010, has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which is included herein.

Changes in Internal Controls

There has been no change in our internal control over financial reporting that occurred during our most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.


Item 9B.                      Other Information

Mine Safety Disclosures – Required by the Dodd-Frank Wall Street Reform and Consumer Protection Act

The Dodd-Frank Act requires issuers to include in periodic reports filed with the SEC certain information relating to citations or orders for violations of standards under the Federal Mine Safety and Health Act of 1977 (Mine Safety Act).

For the six months ended December 31, 2010, we received five citations under Section 104(a) for BNI Coal, however; fines or penalties were not assessed as of the filing of this Form 10-K. We do not expect these citations to result in material fine or penalties. For the six months ended December 31, 2010, there were no citations, orders or notices received under Sections 104, 104(b), 104(d), 107(a) or 104(e) of the Mine Safety Act, no violations of Section 110(b)(2) of the Mine Safety Act, and there were no fatalities.

ALLETE 2010 Form 10-K
44 
 

 

Part III

Item 10.
Directors, Executive Officers and Corporate Governance

Unless otherwise stated, the information required for this Item is incorporated by reference herein from our Proxy Statement for the 2011 Annual Meeting of Shareholders (2011 Proxy Statement) under the following headings:

 
·
Directors. The information regarding directors will be included in the “Election of Directors” section;
 
 
·
Audit Committee Financial Expert. The information regarding the Audit Committee financial expert will be included in the “Audit Committee Report” section;
 
 
·
Audit Committee Members. The identity of the Audit Committee members is included in the “Audit Committee Report” section;
 
 
·
Executive Officers. The information regarding executive officers is included in Part I of this Form 10-K; and
 
 
·
Section 16(a) Compliance. The information regarding Section 16(a) compliance will be included in the “Ownership of ALLETE Common Stock – Section 16(a) Beneficial Ownership Reporting Compliance” section.

Our 2011 Proxy Statement will be filed with the SEC within 120 days after the end of our 2010 fiscal year.

Code of Ethics. We have adopted a written Code of Ethics that applies to all of our employees, including our chief executive officer, chief financial officer and controller. A copy of our Code of Ethics is available on our website at www.allete.com and print copies are available without charge upon request to ALLETE, Inc., Attention: Secretary, 30 West Superior St., Duluth, Minnesota 55802. Any amendment to the Code of Ethics or any waiver of the Code of Ethics will be disclosed on our website at www.allete.com promptly following the date of such amendment or waiver.

Corporate Governance. The following documents are available on our website at www.allete.com and print copies are available upon request:

 
·
Corporate Governance Guidelines;
 
 
·
Audit Committee Charter;
 
 
·
Executive Compensation Committee Charter; and
 
 
·
Corporate Governance and Nominating Committee Charter.

Any amendment to these documents will be disclosed on our website at www.allete.com promptly following the date of such amendment.


Item 11.
Executive Compensation

The information required for this Item is incorporated by reference herein from the “Compensation of Directors and Executive Officers,” the “Compensation Discussion and Analysis”, the “Executive Compensation Committee Report” and the “Director Compensation 2010” sections in our 2011 Proxy Statement.


Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The information required for this Item is incorporated by reference herein from the “Ownership of ALLETE Common Stock – Securities Owned by Certain Beneficial Owners,” the “Ownership of ALLETE Common Stock – Securities Owned by Directors and Management” and the “Equity Compensation Plan Information” sections in our 2011 Proxy Statement.


Item 13.
Certain Relationships and Related Transactions, and Director Independence

The information required for this Item is incorporated by reference herein from the “Corporate Governance” section in our 2011 Proxy Statement.

We have adopted a Related Person Transaction Policy which is available on our website at www.allete.com. Print copies are available without charge, upon request. Any amendment to this policy will be disclosed on our website at www.allete.com promptly following the date of such amendment.


Item 14.
Principal Accounting Fees and Services

The information required for this Item is incorporated by reference herein from the “Audit Committee Report” section in our 2011 Proxy Statement.


ALLETE 2010 Form 10-K
45 
 

 

Part IV

Item 15.
Exhibits and Financial Statement Schedules

(a)
Certain Documents Filed as Part of this Form 10-K.
 
(1)
Financial Statements
Page
   
ALLETE
 
   
Report of Independent Registered Public Accounting Firm
52
   
Consolidated Balance Sheet at December 31, 2010 and 2009
53
   
For the Three Years Ended December 31, 2010
 
     
Consolidated Statement of Income
54
     
Consolidated Statement of Cash Flows
55
     
Consolidated Statement of Shareholders’ Equity
56
   
Notes to Consolidated Financial Statements
57
(2)
Financial Statement Schedules
 
   
Schedule II – ALLETE Valuation and Qualifying Accounts and Reserves
92
 
All other schedules have been omitted either because the information is not required to be reported by ALLETE or because the information is included in the consolidated financial statements or the notes.
(3)
Exhibits including those incorporated by reference.
 

Exhibit Number
 
*3(a)1
-
Articles of Incorporation amended and restated as of May 8, 2001 (filed as Exhibit 3(b) to the March 31, 2001, Form 10-Q, File No. 1-3548).
 
*3(a)2
-
Amendment to Articles of Incorporation, dated as of May 12, 2009 (filed as Exhibit 3 to the June 30, 2009, Form 10-Q, File No. 1-3548).
 
*3(a)3
-
Amendment to Articles of Incorporation, dated as of May 19, 2010 (filed as Exhibit 3(a) to the May 14, 2010, Form 8-K, File No. 1-3548).
 
*3(a)4
-
Amendment to Certificate of Assumed Name, filed with the Minnesota Secretary of State on May 8, 2001 (filed as Exhibit 3(a) to the March 31, 2001, Form 10-Q, File No. 1-3548).
 
*3(b)
-
Bylaws, as amended effective May 11, 2010 (filed as Exhibit 3(b) to the May 14, 2010, Form 8-K, File No. 1-3548).
 
*4(a)1
-
Mortgage and Deed of Trust, dated as of September 1, 1945, between Minnesota Power & Light Company (now ALLETE) and The Bank of New York Mellon (formerly Irving Trust Company) and Ming Ryan (successor to Richard H. West), Trustees (filed as Exhibit 7(c), File No. 2-5865).
 
*4(a)2
-
Supplemental Indentures to ALLETE’s Mortgage and Deed of Trust:
     
Number
Dated as of
Reference File
Exhibit
     
First
March 1, 1949
2-7826
7(b)
     
Second
July 1, 1951
2-9036
7(c)
     
Third
March 1, 1957
2-13075
2(c)
     
Fourth
January 1, 1968
2-27794
2(c)
     
Fifth
April 1, 1971
2-39537
2(c)
     
Sixth
August 1, 1975
2-54116
2(c)
     
Seventh
September 1, 1976
2-57014
2(c)
     
Eighth
September 1, 1977
2-59690
2(c)
     
Ninth
April 1, 1978
2-60866
2(c)
     
Tenth
August 1, 1978
2-62852
2(d)2
     
Eleventh
December 1, 1982
2-56649
4(a)3
     
Twelfth
April 1, 1987
33-30224
4(a)3
     
Thirteenth
March 1, 1992
33-47438
4(b)
     
Fourteenth
June 1, 1992
33-55240
4(b)
     
Fifteenth
July 1, 1992
33-55240
4(c)
     
Sixteenth
July 1, 1992
33-55240
4(d)
     
Seventeenth
February 1, 1993
33-50143
4(b)
     
Eighteenth
July 1, 1993
33-50143
4(c)
     
Nineteenth
February 1, 1997
1-3548 (1996 Form 10-K)
4(a)3
     
Twentieth
November 1, 1997
1-3548 (1997 Form 10-K)
4(a)3
     
Twenty-first
October 1, 2000
333-54330
4(c)3
     
Twenty-second
July 1, 2003
1-3548 (June 30, 2003 Form 10-Q)
4
     
Twenty-third
August 1, 2004
1-3548 (Sept. 30, 2004 Form 10-Q)
4(a)
     
Twenty-fourth
March 1, 2005
1-3548 (March 31, 2005 Form 10-Q)
4
     
Twenty-fifth
December 1, 2005
1-3548 (March 31, 2006 Form 10-Q)
4
     
Twenty-sixth
October 1, 2006
1-3548 (2006 Form 10-K)
4
     
Twenty-seventh
February 1, 2008
1-3548 (2007 Form 10-K)
4(a)3
     
Twenty-eighth
May 1, 2008
1-3548 (June 30, 2008 Form 10-Q)
4

ALLETE 2010 Form 10-K
46 
 

 

Exhibit Number
     
Twenty-ninth
November 1, 2008
1-3548 (2008 Form 10-K)
4(a)3
     
Thirtieth
January 1, 2009
1-3548 (2008 Form 10-K)
4(a)4
     
Thirty-first
February 1, 2010
1-3548 (March 31, 2010 Form 10-Q)
4
     
Thirty-second
August 1, 2010
1-3548 (Sept. 30, 2010 Form 10-Q)
4
 
*4(b)1
-
Indenture of Trust, dated as of August 1, 2004, between the City of Cohasset, Minnesota and U.S. Bank National Association, as Trustee relating to $111 Million Collateralized Pollution Control Refunding Revenue Bonds (filed as Exhibit 4(b) to the September 30, 2004, Form 10-Q, File No. 1-3548).
 
*4(b)2
-
Loan Agreement, dated as of August 1, 2004, between the City of Cohasset, Minnesota and ALLETE relating to $111 Million Collateralized Pollution Control Refunding Revenue Bonds (filed as Exhibit 4(c) to the September 30, 2004, Form 10-Q, File No. 1-3548).
 
*4(c)1
-
Mortgage and Deed of Trust, dated as of March 1, 1943, between Superior Water, Light and Power Company and Chemical Bank & Trust Company and Howard B. Smith, as Trustees, both succeeded by U.S. Bank National Association, as Trustee (filed as Exhibit 7(c), File No. 2-8668).
 
*4(c)2
-
Supplemental Indentures to Superior Water, Light and Power Company’s Mortgage and Deed of Trust:
     
Number
Dated as of
Reference File
Exhibit
     
First
March 1, 1951
2-59690
2(d)(1)
     
Second
March 1, 1962
2-27794
2(d)1
     
Third
July 1, 1976
2-57478
2(e)1
     
Fourth
March 1, 1985
2-78641
4(b)
     
Fifth
December 1, 1992
1-3548 (1992 Form 10-K)
4(b)1
     
Sixth
March 24, 1994
1-3548 (1996 Form 10-K)
4(b)1
     
Seventh
November 1, 1994
1-3548 (1996 Form 10-K)
4(b)2
     
Eighth
January 1, 1997
1-3548 (1996 Form 10-K)
4(b)3
     
Ninth
October 1, 2007
1-3548 (2007 Form 10-K)
4(c)3
     
Tenth
October 1, 2007
1-3548 (2007 Form 10-K)
4(c)4
     
Eleventh
December 1, 2008
1-3548 (2008 Form 10-K)
4(c)3
 
*10(a)
-
Power Purchase and Sale Agreement, dated as of May 29, 1998, between Minnesota Power, Inc. (now ALLETE) and Square Butte Electric Cooperative (filed as Exhibit 10 to the June 30, 1998, Form 10-Q, File No. 1-3548).
 
*10(d)1
-
Fourth Amended and Restated Committed Facility Letter, dated January 11, 2006, by and among ALLETE and Bank of America (formerly LaSalle Bank National Association), as Agent (filed as Exhibit 10(d)1 to the 2009 Form 10-K, File No. 1-3548).
 
*10(d)2
-
First Amendment to Fourth Amended and Restated Committed Facility Letter dated June 19, 2006, by and among ALLETE and Bank of America (formerly LaSalle Bank National Association), as Agent (filed as Exhibit 10(a) to the June 30, 2006, Form 10-Q, File No. 1-3548).
 
*10(d)3
-
Second Amendment to Fourth Amended and Restated Committed Facility Letter dated December 14, 2006, by and among ALLETE and Bank of America (formerly LaSalle Bank National Association), as Agent (filed as Exhibit 10(d)3 to the 2006 Form 10-K, File No. 1-3548).
 
*10(e)1
-
Financing Agreement between Collier County Industrial Development Authority and ALLETE dated as of July 1, 2006 (filed as Exhibit 10(b)1 to the June 30, 2006, Form 10-Q, File No. 1-3548).
 
*10(e)2
-
Letter of Credit Agreement, dated as of July 5, 2006, among ALLETE, the Participating Banks and Wells Fargo Bank, National Association, as Administrative Agent and Issuing Bank (filed as Exhibit 10(b)2 to the June 30, 2006, Form 10-Q, File No. 1-3548).
 
*10(g)
-
Agreement dated December 16, 2005, among ALLETE, Wisconsin Public Service Corporation and WPS Investments, LLC (filed as Exhibit 10(g) to the 2009 Form 10-K, File No. 1-3548).
 
+10(h)1
-
ALLETE Executive Annual Incentive Plan, as amended and restated, effective January 1, 2011.
 
+*10(h)2
-
ALLETE Executive Annual Incentive Plan Form of Awards Effective 2009 (filed as Exhibit 10(h)7 to the 2008 Form 10-K, File No. 1-3548).
 
+*10(h)3
-
ALLETE Executive Annual Incentive Plan Form of Awards Effective 2010 (filed as Exhibit 10(h)3 to the 2009 Form 10-K, File No. 1-3548).
 
+10(h)4
-
ALLETE Executive Annual Incentive Plan Form of Awards Effective 2011.
 
+*10(i)1
-
ALLETE and Affiliated Companies Supplemental Executive Retirement Plan (SERP I), as amended and restated, effective January 1, 2009 (filed as Exhibit 10(i)4 to the 2008 Form 10-K, File No. 1-3548).
 
+10(i)2
-
Amendment to the ALLETE and Affiliated Companies Supplemental Executive Retirement Plan (SERP I), effective January 1, 2011.
 
+10(i)3
-
ALLETE and Affiliated Companies Supplemental Executive Retirement Plan II (SERP II), as amended and restated, effective January 1, 2011.
 
+*10(j)1
-
Minnesota Power and Affiliated Companies Executive Investment Plan I, as amended and restated, effective November 1, 1988 (filed as Exhibit 10(c) to the 1988 Form 10-K, File No. 1-3548).
 
ALLETE 2010 Form 10-K
47

 
Exhibit Number
 
+*10(j)2
-
Amendments through December 2003 to the Minnesota Power and Affiliated Companies Executive Investment Plan I (filed as Exhibit 10(v)2 to the 2003 Form 10-K, File No. 1-3548).
 
+*10(j)3
-
July 2004 Amendment to the Minnesota Power and Affiliated Companies Executive Investment Plan I (filed as Exhibit 10(b) to the June 30, 2004, Form 10-Q, File No. 1-3548).
 
+*10(j)4
-
August 2006 Amendment to the Minnesota Power and Affiliated Companies Executive Investment Plan I (filed as Exhibit 10(b) to the September 30, 2006, Form 10-Q, File No. 1-3548).
 
+*10(k)1
-
Minnesota Power and Affiliated Companies Executive Investment Plan II, as amended and restated, effective November 1, 1988 (filed as Exhibit 10(d) to the 1988 Form 10-K, File No. 1-3548).
 
+*10(k)2
-
Amendments through December 2003 to the Minnesota Power and Affiliated Companies Executive Investment Plan II (filed as Exhibit 10(w)2 to the 2003 Form 10-K, File No. 1-3548).
 
+*10(k)3
-
July 2004 Amendment to the Minnesota Power and Affiliated Companies Executive Investment Plan II (filed as Exhibit 10(c) to the June 30, 2004, Form 10-Q, File No. 1-3548).
 
+*10(k)4
-
August 2006 Amendment to the Minnesota Power and Affiliated Companies Executive Investment Plan II (filed as Exhibit 10(c) to the September 30, 2006, Form 10-Q, File No. 1-3548).
 
+*10(l)
-
Deferred Compensation Trust Agreement, as amended and restated, effective January 1, 1989 (filed as Exhibit 10(f) to the 1988 Form 10-K, File No. 1-3548).
 
+*10(m)1
-
ALLETE Executive Long-Term Incentive Compensation Plan as amended and restated effective January 1, 2006 (filed as Exhibit 10 to the May 16, 2005, Form 8-K, File No. 1-3548).
 
+10(m)2
-
Amendment to the ALLETE Executive Long-Term Incentive Compensation Plan, effective January 1, 2011.
 
+*10(m)3
-
Form of ALLETE Executive Long-Term Incentive Compensation Plan 2006 Nonqualified Stock Option Grant (filed as Exhibit 10(a)1 to the January 30, 2006, Form 8-K, File No. 1-3548).
 
+*10(m)4
-
Form of ALLETE Executive Long-Term Incentive Compensation Plan Nonqualified Stock Option Grant Effective 2007 (filed as Exhibit 10(m)6 to the 2006 Form 10-K, File No. 1-3548).
 
+*10(m)5
-
Form of ALLETE Executive Long-Term Incentive Compensation Plan Performance Share Grant Effective 2007 (filed as Exhibit 10(m)7 to the 2006 Form 10-K, File No. 1-3548).
 
+*10(m)6
-
Form of ALLETE Executive Long-Term Incentive Compensation Plan Performance Share Grant Effective 2008 (filed as Exhibit 10(m)10 to the 2007 Form 10-K, File No. 1-3548).
 
+*10(m)7
-
Form of ALLETE Executive Long-Term Incentive Compensation Plan Performance Share Grant Effective 2009 (filed as Exhibit 10(m)11 to the 2008 Form 10-K, File No. 1-3548).
 
+*10(m)8 
-
Form of ALLETE Executive Long-Term Incentive Compensation Plan – Restricted Stock Unit Grant Effective 2009 (filed as Exhibit 10(m)12 to the 2008 Form 10-K, File No. 1-3548).
 
+*10(m)9
-
Form of ALLETE Executive Long-Term Incentive Compensation Plan Performance Share Grant Effective 2010 (filed as Exhibit 10(m)8 to the 2009 Form 10-K, File No. 1-3548).
 
+*10(m)10
-
Form of ALLETE Executive Long-Term Incentive Compensation Plan – Restricted Stock Unit Grant Effective 2010 (filed as Exhibit 10(m)9 to the 2009 Form 10-K, File No. 1-3548).
 
+10(m)11
-
Form of ALLETE Executive Long-Term Incentive Compensation Plan Performance Share Grant Effective 2011.
 
+10(m)12
-
Form of ALLETE Executive Long-Term Incentive Compensation Plan – Restricted Stock Unit Grant Effective 2011.
 
+*10(n)1
-
Minnesota Power (now ALLETE) Director Stock Plan, effective January 1, 1995 (filed as Exhibit 10 to the March 31, 1995, Form 10-Q, File No. 1-3548).
 
+*10(n)2
-
Amendments through December 2003 to the Minnesota Power (now ALLETE) Director Stock Plan (filed as Exhibit 10(z)2 to the 2003 Form 10-K, File No. 1-3548).
 
+*10(n)3
-
July 2004 Amendment to the ALLETE Director Stock Plan (filed as Exhibit 10(e) to the June 30, 2004, Form 10-Q, File No. 1-3548).
 
+*10(n)4
-
January 2007 Amendment to the ALLETE Director Stock Plan (filed as Exhibit 10(n)4 to the 2006 Form 10-K, File No. 1-3548).
 
+*10(n)5
-
May 2009 Amendment to the ALLETE Director Stock Plan (filed as Exhibit 10(b) to the June 30, 2009, Form 10-Q, File No. 1-3548).
 
+*10(n)6
-
May 2010 Amendment to the ALLETE Director Stock Plan (filed as Exhibit 10(a) to the June 30, 2010, Form 10-Q, File No. 1-3548).
 
+*10(n)7
-
October 2010 Amendment to the ALLETE Director Stock Plan (filed as Exhibit 10 to the September 30, 2010, Form 10-Q, File No. 1-3548).
 
+*10(n)8
-
ALLETE Non-Management Director Compensation Summary Effective May 1, 2010 (filed as Exhibit 10(b) to the March 31, 2010, Form 10-Q, File No. 1-3548).

 
ALLETE 2010 Form 10-K
48

 
Exhibit Number
 
+10(n)9
-
ALLETE Non-Management Director Compensation Summary effective January 19, 2011.
 
+*10(o)1
-
Minnesota Power (now ALLETE) Director Compensation Deferral Plan Amended and Restated, effective January 1, 1990 (filed as Exhibit 10(ac) to the 2002 Form 10-K, File No. 1-3548).
 
+*10(o)2
-
October 2003 Amendment to the Minnesota Power (now ALLETE) Director Compensation Deferral Plan (filed as Exhibit 10(aa)2 to the 2003 Form 10-K, File No. 1-3548).
 
+*10(o)3
-
January 2005 Amendment to the ALLETE Director Compensation Deferral Plan (filed as Exhibit 10(c) to the March 31, 2005, Form 10-Q, File No. 1-3548).
 
+*10(o)4
-
August 2006 Amendment to the ALLETE Director Compensation Deferral Plan (filed as Exhibit 10(d) to the September 30, 2006, Form 10-Q, File No. 1-3548).
 
+*10(o)5
-
ALLETE Non-Employee Director Compensation Deferral Plan II, effective May 1, 2009 (filed as Exhibit 10(a) to the June 30, 2009, Form 10-Q, File No. 1-3548).
 
+*10(p)
-
ALLETE Director Compensation Trust Agreement, effective October 11, 2004 (filed as Exhibit 10(a) to the September 30, 2004, Form 10-Q, File No. 1-3548).
 
+10(q)
-
ALLETE and Affiliated Companies Change in Control Severance Plan, as amended and restated, effective January 19, 2011.
 
12
-
Computation of Ratios of Earnings to Fixed Charges.
 
21
-
Subsidiaries of the Registrant.
 
23(a)
-
Consent of Independent Registered Public Accounting Firm.
 
31(a)
-
Rule 13a-14(a)/15d-14(a) Certification by the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
 
31(b)
-
Rule 13a-14(a)/15d-14(a) Certification by the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
 
32
-
Section 1350 Certification of Annual Report by the Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
 
99
-
ALLETE News Release dated February 16, 2011, announcing earnings for the year ended December 31, 2010. (This exhibit has been furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.)

SWL&P is a party to other long-term debt instruments, $6,370,000 of City of Superior, Wisconsin, Collateralized Utility Revenue Refunding Bonds Series 2007A and $6,130,000 of City of Superior, Wisconsin, Collateralized Utility Revenue Bonds Series 2007B, that, pursuant to Regulation S-K, Item 601(b)(4)(iii), are not filed as exhibits since the total amount of debt authorized under each of these omitted instruments does not exceed 10 percent of our total consolidated assets. We will furnish copies of these instruments to the SEC upon its request.

We are a party to another long-term debt instrument, $38,995,000 original principal amount, of City of Cohasset, Minnesota, Variable Rate Demand Revenue Refunding Bonds (ALLETE, formerly Minnesota Power & Light Company, Project) Series 1997A, Series 1997B and Series 1997C ($36,495,000 remaining principal balance) that, pursuant to Regulation S-K, Item 601(b)(4)(iii), is not filed as an exhibit since the total amount of debt authorized under this omitted instrument does not exceed 10 percent of our total consolidated assets. We will furnish copies of this instrument to the SEC upon its request.

*
Incorporated herein by reference as indicated.
+
Management contract or compensatory plan or arrangement pursuant to Item 15(b).


ALLETE 2010 Form 10-K
49 
 

 

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
ALLETE, Inc.
 
 
Dated: February 16, 2011
By
Alan R. Hodnik
 
Alan R. Hodnik
 
President and Chief Executive Officer



Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature
 
Title
 
Date
         
Alan R. Hodnik
 
President and Chief Executive Officer
 
February 16, 2011
Alan R. Hodnik
 
(Principal Executive Officer)
   
         
Mark A. Schober
 
Senior Vice President and Chief Financial Officer
 
February 16, 2011
Mark A. Schober
 
(Principal Financial Officer)
   
         
Steven Q. DeVinck
 
Controller and Vice President – Business Support
 
February 16, 2011
Steven Q. DeVinck
 
(Principal Accounting Officer)
   

ALLETE 2010 Form 10-K
50 
 

 

Signatures (Continued)



Signature
 
Title
 
Date
         
Kathleen A. Brekken
 
Director
 
February 16, 2011
Kathleen A. Brekken
       
         
Kathryn W. Dindo
 
Director
 
February 16, 2011
Kathryn W. Dindo
       
         
Heidi J. Eddins
 
Director
 
February 16, 2011
Heidi J. Eddins
       
         
Sidney W. Emery, Jr.
 
Director
 
February 16, 2011
Sidney W. Emery, Jr.
       
         
James S. Haines, Jr
 
Director
 
February 16, 2011
James S. Haines, Jr
       
         
James J. Hoolihan
 
Director
 
February 16, 2011
James J. Hoolihan
       
         
Madeleine W. Ludlow
 
Director
 
February 16, 2011
Madeleine W. Ludlow
       
         
Douglas C. Neve
 
Director
 
February 16, 2011
Douglas C. Neve
       
         
Leonard C. Rodman
 
Director
 
February 16, 2011
Leonard C. Rodman
       
         
Donald J. Shippar
 
Director
 
February 16, 2011
Donald J. Shippar
       
         
Bruce W. Stender
 
Director
 
February 16, 2011
Bruce W. Stender
       


ALLETE 2010 Form 10-K
51 
 

 

Report of Independent Registered Public Accounting Firm


To the Board of Directors and Shareholders of ALLETE, Inc:

In our opinion, the accompanying consolidated financial statements listed in the index appearing under Item 15(a)(1) present fairly, in all material respects, the financial position of ALLETE, Inc. and its subsidiaries (the Company) at December 31, 2010 and 2009, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2010 in conformity with accounting principles generally accepted in the United States of America. In addition, in our opinion, the financial statement schedule listed in the index appearing under Item 15(a)(2) presents fairly, in all material respects, the information set forth therein when read in conjunction with the related consolidated financial statements. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2010, based on criteria established in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The Company's management is responsible for these financial statements and financial statement schedule, for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in Management's Report on Internal Control over Financial Reporting appearing under Item 9A. Our responsibility is to express opinions on these financial statements, on the financial statement schedule, and on the Company's internal control over financial reporting based on our integrated audits. We conducted our audits in accordance with t he standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement and whether effective internal control over financial reporting was maintained in all material respects. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we conside red necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with autho rizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.



PricewaterhouseCoopers LLP
Minneapolis, Minnesota
February 16, 2011

ALLETE 2010 Form 10-K
52 
 

 

Consolidated Financial Statements


ALLETE Consolidated Balance Sheet

As of December 31
2010
2009
Millions
   
Assets
   
Current Assets
   
Cash and Cash Equivalents
$44.9
$25.7
Short-Term Investments
6.7
Accounts Receivable (Less Allowance of $0.9 and $0.9)
99.5
118.5
Inventories
60.0
57.0
Prepayments and Other
28.6
24.3
Total Current Assets
239.7
225.5
Property, Plant and Equipment – Net
1,805.6
1,622.7
Regulatory Assets
310.2
293.2
Investment in ATC
93.3
88.4
Other Investments
126.0
130.5
Other Non-Current Assets
34.3
32.8
Total Assets
$2,609.1
$2,393.1
Liabilities and Equity
   
Liabilities
   
Current Liabilities
   
Accounts Payable
$75.4
$62.1
Accrued Taxes
22.0
20.6
Accrued Interest
13.4
11.1
Long-Term Debt Due Within One Year
13.4
5.2
Notes Payable
1.0
1.9
Other
33.7
32.2
Total Current Liabilities
158.9
133.1
Long-Term Debt
771.6
695.8
Deferred Income Taxes
325.2
253.1
Regulatory Liabilities
43.6
47.1
Other Non-Current Liabilities
324.8
325.0
Total Liabilities
1,624.1
1,454.1
Commitments and Contingencies (Note 10)
   
Equity
   
ALLETE’s Equity
   
Common Stock Without Par Value, 80.0 Shares Authorized, 35.8 and 35.2
   
Shares Outstanding
636.1
613.4
Unearned ESOP Shares
(36.8)
(45.3)
Accumulated Other Comprehensive Loss
(23.2)
(24.0)
Retained Earnings
399.9
385.4
Total ALLETE Equity
976.0
929.5
Non-Controlling Interest in Subsidiaries
9.0
9.5
Total Equity
985.0
939.0
Total Liabilities and Equity
$2,609.1
$2,393.1

The accompanying notes are an integral part of these statements.

ALLETE 2010 Form 10-K
53 
 

 

ALLETE Consolidated Statement of Income

Year Ended December 31
2010
2009
2008
Millions Except Per Share Amounts
     
Operating Revenue
     
Operating Revenue
$907.0
$766.7
$801.0
Prior Year Rate Refunds
(7.6)
Total Operating Revenue
907.0
759.1
801.0
Operating Expenses
     
Fuel and Purchased Power
325.1
279.5
305.6
Operating and Maintenance
365.6
308.9
318.1
Depreciation
80.5
64.7
55.5
Total Operating Expenses
771.2
653.1
679.2
Operating Income
135.8
106.0
121.8
Other Income (Expense)
     
Interest Expense
(39.2)
(33.8)
(26.3)
Equity Earnings in ATC
17.9
17.5
15.3
Other
4.6
1.8
15.6
Total Other Income (Expense)
(16.7)
(14.5)
4.6
       
Income Before Non-Controlling Interest and Income Taxes
119.1
91.5
126.4
Income Tax Expense
44.3
30.8
43.4
Net Income
74.8
60.7
83.0
Less: Non-Controlling Interest in Subsidiaries
(0.5)
(0.3)
0.5
Net Income Attributable to ALLETE
$75.3
$61.0
$82.5
       
Average Shares of Common Stock
     
Basic
34.2
32.2
29.2
Diluted
34.3
32.2
29.3
       
Basic Earnings Per Share of Common Stock
$2.20
$1.89
$2.82
Diluted Earnings Per Share of Common Stock
$2.19
$1.89
$2.82
       
Dividends Per Share of Common Stock
$1.76
$1.76
$1.72

The accompanying notes are an integral part of these statements.


ALLETE 2010 Form 10-K
54 
 

 

ALLETE Consolidated Statement of Cash Flows

Year Ended December 31
2010
2009
2008
Millions
     
Operating Activities
     
Net Income
$74.8
$60.7
$83.0
Allowance for Funds Used During Construction
(4.2)
(5.8)
(3.3)
Loss (Income) from Equity Investments, Net of Dividends
(3.1)
0.1
(3.1)
Gain on Real Estate Foreclosure
(0.7)
Gain on Sale of Assets
(0.2)
(4.8)
Gain on Sale of Available-for-sale Securities
(6.4)
Loss on Impairment of Assets
3.1
Depreciation Expense
80.5
64.7
55.5
Amortization of Debt Issuance Costs
0.9
0.9
0.8
Deferred Income Tax Expense
66.0
75.2
38.8
Share-Based Compensation Expense
2.2
2.1
1.8
ESOP Compensation Expense
7.1
6.5
10.1
Bad Debt Expense
1.1
1.3
0.7
Changes in Operating Assets and Liabilities
     
Accounts Receivable
17.9
(43.5)
2.4
Inventories
(3.0)
(7.3)
(0.2)
Prepayments and Other
(4.3)
11.2
Accounts Payable
5.8
10.5
(14.1)
Other Current Liabilities
5.2
5.3
5.9
Regulatory and Other Assets
16.3
(18.3)
(1.8)
Regulatory and Other Liabilities
(33.8)
(17.9)
(22.9)
Cash from Operating Activities
228.7
137.4
153.6
Investing Activities
     
Proceeds from Sale of Available-for-sale Securities
0.6
8.9
62.3
Payments for Purchase of Available-for-sale Securities
(2.3)
(2.2)
(44.8)
Investment in ATC
(1.6)
(7.8)
(7.4)
Changes to Other Investments
1.3
(0.7)
(9.2)
Additions to Property, Plant and Equipment
(248.9)
(318.5)
(301.1)
Proceeds from Sale of Assets
0.3
20.4
Other
3.7
Cash for Investing Activities
(250.9)
(320.0)
(276.1)
Financing Activities
     
Proceeds from Issuance of Common Stock
20.5
65.2
71.1
Proceeds from Issuance of Long-Term Debt
155.0
111.4
198.7
Changes in Notes Payable
(0.9)
(4.1)
6.0
Reductions of Long-Term Debt
(71.0)
(9.1)
(22.7)
Debt Issuance Costs
(1.4)
(0.6)
(1.5)
Dividends on Common Stock
(60.8)
(56.5)
(50.4)
Cash from Financing Activities
41.4
106.3
201.2
Change in Cash and Cash Equivalents
19.2
(76.3)
78.7
Cash and Cash Equivalents at Beginning of Period
25.7
102.0
23.3
Cash and Cash Equivalents at End of Period
$44.9
$25.7
$102.0

The accompanying notes are an integral part of these statements.

ALLETE 2010 Form 10-K
55 
 

 

ALLETE Consolidated Statement of Shareholders’ Equity

     
Accumulated
   
 
Total
 
Other
Unearned
 
 
Shareholders’
Retained
Comprehensive
ESOP
Common
 
Equity
Earnings
Income (Loss)
Shares
Stock
Millions
         
Balance as of December 31, 2007
$742.6
$350.4
$(4.5)
$(64.5)
$461.2
Comprehensive Income
         
Net Income
83.0
83.0
     
Other Comprehensive Income – Net of Tax
         
Unrealized Loss on Securities – Net
(6.0)
 
(6.0)
   
Reclassification Adjustment for Gains Included in Income
(3.7)
 
(3.7)
   
Defined Benefit Pension and Other Postretirement Plans
(18.8)
 
(18.8)
   
Total Comprehensive Income
54.5
       
   Non-Controlling Interest in Subsidiaries
(0.5)
(0.5)
     
Comprehensive Income Attributable to ALLETE
54.0
       
Adjustment to apply change in Pension and Postretirement measurement date
(1.6)
(1.6)
     
Common Stock Issued – Net
72.9
     
72.9
Dividends Declared
(50.4)
(50.4)
     
ESOP Shares Earned
9.6
   
9.6
 
Balance as of December 31, 2008
827.1
380.9
(33.0)
(54.9)
534.1
Comprehensive Income
         
Net Income
60.7
60.7
     
Other Comprehensive Income – Net of Tax
         
Unrealized Gain on Securities – Net
2.8
 
2.8
   
Defined Benefit Pension and Other Postretirement Plans
6.2
 
6.2
   
Total Comprehensive Income
69.7
       
   Non-Controlling Interest in Subsidiaries
0.3
0.3
     
Comprehensive Income Attributable to ALLETE
70.0
       
Common Stock Issued – Net
79.3
     
79.3
Dividends Declared
(56.5)
(56.5)
     
ESOP Shares Earned
9.6
   
9.6
 
Balance as of December 31, 2009
929.5
385.4
(24.0)
(45.3)
613.4
Comprehensive Income
         
Net Income
74.8
74.8
     
Other Comprehensive Income – Net of Tax
         
Unrealized Gain on Securities – Net
0.8
 
0.8
   
Total Comprehensive Income
75.6
       
Non-Controlling Interest in Subsidiaries
0.5
0.5
     
Comprehensive Income Attributable to ALLETE
76.1
       
Common Stock Issued – Net
22.7
     
22.7
Dividends Declared
(60.8)
(60.8)
     
ESOP Shares Earned
8.5
   
8.5
 
Balance as of December 31, 2010
$976.0
$399.9
$(23.2)
$(36.8)
$636.1

The accompanying notes are an integral part of these statements.

ALLETE 2010 Form 10-K
56 
 

 

Notes to Consolidated Financial Statements


Note 1.
Operations and Significant Accounting Policies

Financial Statement Preparation. References in this report to “we,” “us,” and “our” are to ALLETE and its subsidiaries, collectively. We prepare our financial statements in conformity with accounting principles generally accepted in the United States of America. These principles require management to make informed judgments, best estimates, and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results could differ from those estimates.

Subsequent Events. The Company performed an evaluation of subsequent events for potential recognition and disclosure through the time of the financial statements issuance.

Principles of Consolidation. Our consolidated financial statements include the accounts of ALLETE and all of our majority-owned subsidiary companies. All material intercompany balances and transactions have been eliminated in consolidation.

Business Segments. Our Regulated Operations and Investments and Other segments were determined in accordance with the guidance on segment reporting. Segmentation is based on the manner in which we operate, assess, and allocate resources to the business. We measure performance of our operations through budgeting and monitoring of contributions to consolidated net income by each business segment.

Regulated Operations includes retail and wholesale rate-regulated electric, natural gas, and water services in northeastern Minnesota and northwestern Wisconsin along with our Investment in ATC. Minnesota Power provides regulated utility electric service to 146,000 retail customers in northeastern Minnesota. SWL&P, a wholly-owned subsidiary, provides regulated utility electric, natural gas and water service in northwestern Wisconsin to 15,000 electric customers, 12,000 natural gas customers and 10,000 water customers. Regulated utility rates are under the jurisdiction of Minnesota, Wisconsin and federal regulatory authorities. Our Investment in ATC includes our approximate 8 percent equity ownership interest in ATC, a Wisconsin-based utility that owns and maintains electric tr ansmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. (See Note 6. Investment in ATC.)

Investments and Other is comprised primarily of BNI Coal, our coal mining operations in North Dakota, and ALLETE Properties, our Florida real estate investment. This segment also includes a small amount of non-rate base generation, approximately 7,000 acres of land available-for-sale in Minnesota, and earnings on cash and investments.

BNI Coal, a wholly-owned subsidiary, mines and sells lignite coal to two North Dakota mine-mouth generating units, one of which is Square Butte. In 2010, Square Butte supplied approximately 50 percent (227.5 MW) of its output to Minnesota Power under a long-term contract. (See Note 10. Commitments, Guarantees and Contingencies.) Coal sales are recognized when delivered at the cost of production plus a specified profit per ton of coal delivered.

ALLETE Properties is our Florida real estate investment. Our current strategy for the assets is to complete and maintain key entitlements and infrastructure improvements without requiring significant additional investment, and sell the portfolio over time or in bulk transactions.

Full profit recognition is recorded on sales upon closing, provided that cash collections are at least 20 percent of the contract price and the other requirements under the guidance for sales of real estate, are met. In certain cases, where there are obligations to perform significant development activities after the date of sale, we recognize profit on a percentage-of-completion basis. From time to time, certain contracts with customers allow us to receive participation revenue from land sales to third parties if various formula-based criteria are achieved.

In certain cases, we pay fees or construct improvements to mitigate offsite traffic impacts. In return, we receive traffic impact fee credits as a result of some of these expenditures. We recognize revenue from the sale of traffic impact fee credits when payment is received.

Land held-for-sale is recorded at the lower of cost or fair value determined by the evaluation of individual land parcels and is included in Other Investments on our consolidated balance sheet. Real estate costs include the cost of land acquired, subsequent development costs and costs of improvements, capitalized development period interest, real estate taxes and payroll costs of certain employees devoted directly to the development effort. These real estate costs incurred are capitalized to the cost of real estate parcels based upon the relative sales value of parcels within each development project in accordance with the accounting standards for real estate. The cost of real estate includes the actual costs incurred and the estimate of future completion costs allocated to the real estate sold based upon the relative sales value metho d. Whenever events or circumstances indicate that the carrying value of the real estate may not be recoverable, impairments would be recorded and the related assets would be adjusted to their estimated fair value, less costs to sell. (See Note 7. Investments.)

Cash and Cash Equivalents. We consider all investments purchased with original maturities of three months or less to be cash equivalents.


ALLETE 2010 Form 10-K
57 
 

 

Note 1.
Operations and Significant Accounting Policies (Continued)

Supplemental Statement of Cash Flow Information

Consolidated Statement of Cash Flows
 
Supplemental Disclosure
 
Year Ended December 31
2010
2009
2008
Millions
     
Cash Paid During the Period for
     
Interest – Net of Amounts Capitalized
$35.7
$29.8
$25.2
Income Taxes (Net of refunds received of $57.1, $6.7 and $–) (a)
$(54.2)
$(5.6)
$6.5
       
Noncash Investing and Financing Activities
     
Increase (Decrease) in Accounts Payable for Capital Additions to Property, Plant and Equipment
$7.5
$(24.1)
$17.1
AFUDC – Equity
$4.2
$5.8
$3.3
ALLETE Common Stock contributed to the Pension Plan
$(12.0)

(a)
Due to bonus depreciation provisions in the Small Business Jobs Act of 2010 and the American Recovery and Reinvestment Act of 2009, lower estimated tax payments were made in 2010 and 2009. Refunds received in 2010 resulted from a 2009 NOL which was utilized by carrying it back against prior years’ taxable income and the completion of a state income tax audit.

Accounts Receivable. Accounts receivable are reported on the balance sheet net of an allowance for doubtful accounts. The allowance is based on our evaluation of the receivable portfolio under current conditions, overall portfolio quality, review of specific problems and such other factors that, in our judgment, deserve recognition in estimating losses.

Accounts Receivable
 
As of December 31
2010
         2009
Millions
   
Trade Accounts Receivable
   
Billed
$67.6
$56.5
Unbilled
18.9
15.1
Less: Allowance for Doubtful Accounts
0.9
0.9
Total Trade Accounts Receivable
85.6
70.7
Income Taxes Receivable
13.9
47.8
Total Accounts Receivable – Net
$99.5
$118.5


Concentration of Credit Risk. Financial instruments that subject us to concentrations of credit risk consist primarily of accounts receivable. Minnesota Power sells electricity to 10 Large Power Customers. Receivables from these customers totaled $17.3 million at December 31, 2010 ($9.6 million at December 2009). Minnesota Power does not obtain collateral to support utility receivables, but monitors the credit standing of major customers. In addition, our taconite-producing Large Power Customers are on a weekly billing cycle, which allows us to closely manage collection of amounts due.

Long-Term Finance Receivables. Long-term finance receivables relating to our real estate operations are collateralized by property sold, accrue interest at market-based rates and are net of an allowance for doubtful accounts. We assess delinquent finance receivables by comparing the balance of such receivable to the estimated fair value of the collateralized property. If the fair value of the property is less than the finance receivable, we record a reserve for the difference. We estimate fair value based on recent property tax assessed values or current appraisals. (See Note 7. Investments.)

Available-for-Sale Securities. Available-for-sale securities are recorded at fair value with unrealized gains and losses included in accumulated other comprehensive income (loss), net of tax. Unrealized losses that are other than temporary are recognized in earnings. We use the specific identification method as the basis for determining the cost of securities sold. Our policy is to review available-for-sale securities for other than temporary impairment on a quarterly basis by assessing such factors as the share price trends and the impact of overall market conditions. (See Note 7. Investments.)

Inventories. Inventories are stated at the lower of cost or market. Amounts removed from inventory are recorded on an average cost basis.

Inventories
 
As of December 31
2010
2009
Millions
   
Fuel
$22.9
$23.0
Materials and Supplies
37.1
34.0
Total Inventories
$60.0
$57.0


ALLETE 2010 Form 10-K
58 
 

 

Note 1.
Operations and Significant Accounting Policies (Continued)

Property, Plant and Equipment. Property, plant and equipment are recorded at original cost and are reported on the balance sheet net of accumulated depreciation. Expenditures for additions, significant replacements, improvements and major plant overhauls are capitalized; maintenance and repair costs are expensed as incurred. Gains or losses on non-rate base property, plant and equipment are recognized when they are retired or otherwise disposed. When regulated utility property, plant and equipment are retired or otherwise disposed, no gain or loss is recognized in accordance with the accounting standards for Regulated Operations. Our Regulated Operations capitalize AFUDC, which includes both an interest and equity component. AFUDC represents the cost of both debt and equity funds used to finance utility plant additions during construction periods. AFUDC amounts capitalized are included in rate base and are recovered from customers as the related property is depreciated. However, the MPUC has approved current cost recovery for several large capital projects recently, resulting in lower recognition of AFUDC. (See Note 3. Property, Plant and Equipment.)

Long-Lived Asset Impairments. We account for our long-lived assets at depreciated historical cost. A long-lived asset is tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. We conduct this assessment in accordance with the accounting standards for impairment or disposal of long-lived assets. Judgments and uncertainties affecting the application of accounting for asset impairment include economic conditions affecting market valuations, changes in our business strategy, and changes in our forecast of future operating cash flows and earnings. We would recognize an impairment loss only if the carrying amount of a long-lived asset is not recoverable from its undiscounted future cash flows. Management judgment i s involved in both deciding if testing for recoverability is necessary and in estimating undiscounted future cash flows.

Derivatives. We review all material power purchase and sales contracts for derivative treatment to determine if they qualify for the normal purchase normal sale exception under the guidance for derivatives and hedging.

Accounting for Stock-Based Compensation. We apply the fair value recognition guidance for share-based payments. Under this guidance, we recognize stock-based compensation expense for all share-based payments granted, net of an estimated forfeiture rate. (See Note 16. Employee Stock and Incentive Plans.)
 
Prepayments and Other Current Assets
   
As of December 31
2010
2009
Millions
   
Deferred Fuel Adjustment Clause (See Note 5. Regulatory Matters)
$20.6
$15.5
Other
8.0
8.8
Total Prepayments and Other Current Assets
$28.6
$24.3

 
Other Non-Current Liabilities
   
As of December 31
2010
2009
Millions
   
Future Benefit Obligation Under Defined Benefit Pension and Other Postretirement Plans
$231.4
$231.2
Asset Retirement Obligation (See Note 3. Property, Plant and Equipment)
50.3
44.6
Other
43.1
49.2
Total Other Non-Current Liabilities
$324.8
$325.0

Environmental Liabilities. We review environmental matters for disclosure on a quarterly basis. Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the balance sheet at undiscounted amounts and exclude claims for recoveries from insurance or other third parties. Costs related to environmental contamination treatment and cleanup are charged to operating expense unless recoverable in rates from customers. (See Note 10. Commitments, Guarantees and Contingencies.)

Revenue Recognition. Regulated utility rates are under the jurisdiction of Minnesota, Wisconsin and federal regulatory authorities. Customers are billed on a cycle basis. Revenue is accrued for service provided but not billed. Regulated utility electric rates include adjustment clauses that: (1) bill or credit customers for fuel and purchased energy costs above or below the base levels in rate schedules; (2) bill retail customers for the recovery of conservation improvement program expenditures not collected in base rates; and (3) bill customers for the recovery of certain environmental and renewable energy expenditures. Fuel and purchased power expense is deferred to match the period in which the revenue for fuel and purchased power expense is collected from customers pursuant to the fuel adjustment clause.

Unamortized Discount and Premium on Debt. Discount and premium on debt are deferred and amortized over the terms of the related debt instruments using the straight-line method.

ALLETE 2010 Form 10-K
59 
 

 

Note 1.
Operations and Significant Accounting Policies (Continued)

Income Taxes. We file a consolidated federal income tax return. We account for income taxes using the liability method in accordance with the accounting standards for income taxes. Under the liability method, deferred income tax assets and liabilities are established for all temporary differences in the book and tax basis of assets and liabilities, based upon enacted tax laws and rates applicable to the periods in which the taxes become payable. Due to the effects of regulation on Minnesota Power and SWL&P, certain adjustments made to deferred income taxes are, in turn, recorded as regulatory assets or liabilities. Federal investment tax credits have been recorded as deferred credits and are being amortized to income tax expense over the service lives of the related property. In accordance with the accounting standards for uncertainty in income taxes, we are required to recognize in our financial statements the largest tax benefit of a tax position that is “more-likely-than-not” to be sustained on audit, based solely on the technical merits of the position as of the reporting date. The term “more-likely-than-not” means more than 50 percent likely. (See Note 13. Income Tax Expense.)

Excise Taxes. We collect excise taxes from our customers levied by government entities. These taxes are stated separately on the billing to the customer and recorded as a liability to be remitted to the government entity. We account for the collection and payment of these taxes on a net basis.


Recently Adopted Accounting Standards.

Receivables. In July 2010, the FASB issued an accounting standards update requiring expanded disclosures on allowances for credit losses and the credit quality of the financing receivables of an entity. This guidance also requires a roll forward schedule of the allowance for credit losses for each reporting period. The guidance for greater transparency was adopted December 31, 2010, and did not have an impact on our consolidated financial position, results of operations or cash flows. The guidance for the roll forward requirement is effective January 1, 2011, and is not expected to have an impact on our consolidated financial position, results of operations or cash flows as the amended guidance provides only disclosure requirements.

Derivative Instruments and Hedging Activities. In March 2010, the FASB issued new guidance on the accounting for credit derivatives that are embedded in beneficial interests in securitized financial assets. This new guidance eliminated the scope exception for embedded credit derivatives and provided new guidance on the evaluation to be performed. This guidance was effective June 15, 2010. As of December 31, 2010, we did not have any embedded credit derivatives.

Subsequent Events. In February 2010, the FASB issued an accounting standards update that eliminates the requirement to disclose the date through which subsequent events have been evaluated. The amended guidance was adopted and effective during the first quarter of 2010, and did not have an impact on our consolidated financial position, results of operations or cash flows.

Fair Value. In January 2010, the FASB issued an amendment to the fair value measurement and disclosure standard improving disclosures about fair value measurements. This amended guidance requires separate disclosure of significant transfers in and out of Levels 1 and 2 and the reasons for the transfers. The amended guidance also requires that in the Level 3 reconciliation, the information about purchases, sales, issuances, and settlements be disclosed separately on a gross basis rather than as one net number. The guidance for the Level 1 and 2 disclosures was adopted January 1, 2010, and did not have an impact on our consolidated financial position, results of operations or cash flows. The guidance for the act ivity in Level 3 disclosures is effective January 1, 2011, and is not expected to have an impact on our consolidated financial position, results of operations or cash flows as the amended guidance provides only disclosure requirements.

Variable Interest Entities (VIEs). In June 2009, the FASB issued authoritative guidance changing the approach to determine a VIE’s primary beneficiary and requiring ongoing assessments of whether an enterprise is the primary beneficiary of a VIE. This guidance also requires additional disclosures about a company’s involvement with VIEs and any significant changes in risk exposure due to that involvement. This guidance was adopted January 1, 2010, and did not have an impact on our consolidated financial position, results of operations or cash flows.


ALLETE 2010 Form 10-K
60 
 

 

Note 2.
Business Segments

Regulated Operations includes our regulated utilities, Minnesota Power and SWL&P, as well as our investment in ATC, a Wisconsin-based utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota, and Illinois. Investments and Other is comprised primarily of BNI Coal, our coal mining operations in North Dakota, and ALLETE Properties, our Florida real estate investment. This segment also includes a small amount of non-rate base generation, approximately 7,000 acres of land available-for-sale in Minnesota, and earnings on cash and investments. For a description of our reportable business segments, see Item 1. Business.

 
Regulated
Investments
 
Consolidated
Operations
and Other
Millions
     
2010
     
Operating Revenue
$907.0
$835.5
$71.5
Fuel and Purchased Power
325.1
325.1
Operating and Maintenance
365.6
292.3
73.3
Depreciation Expense
80.5
76.1
4.4
Operating Income (Loss)
135.8
142.0
(6.2)
Interest Expense
(39.2)
(32.3)
(6.9)
Equity Earnings in ATC
17.9
17.9
Other Income
4.6
3.8
0.8
Income (Loss) Before Non-Controlling Interest and Income Taxes
119.1
131.4
(12.3)
Income Tax Expense (Benefit)
44.3
51.6
(7.3)
Net Income (Loss)
74.8
79.8
 (5.0)
Less: Non-Controlling Interest in Subsidiaries
(0.5)
(0.5)
Net Income (Loss) Attributable to ALLETE
$75.3
$79.8
$(4.5)
       
Total Assets
$2,609.1
$2,375.4
$233.7
Capital Additions
$260.0
$256.4
$3.6


 
Regulated
Investments
 
Consolidated
Operations
and Other
Millions
     
2009
     
Operating Revenue
$766.7
$689.4
$77.3
Prior Year Rate Refunds
(7.6)
(7.6)
Total Operating Revenue
759.1
681.8
77.3
Fuel and Purchased Power
279.5
279.5
Operating and Maintenance
308.9
235.8
73.1
Depreciation Expense
64.7
60.2
4.5
Operating Income (Loss)
106.0
106.3
(0.3)
Interest Expense
(33.8)
(28.3)
(5.5)
Equity Earnings in ATC
17.5
17.5
Other Income (Expense)
1.8
5.8
(4.0)
Income (Loss) Before Non-Controlling Interest and Income Taxes
91.5
101.3
(9.8)
Income Tax Expense (Benefit)
30.8
35.4
(4.6)
Net Income (Loss)
60.7
65.9
 (5.2)
Less: Non-Controlling Interest in Subsidiaries
(0.3)
(0.3)
Net Income (Loss) Attributable to ALLETE
$61.0
$65.9
$(4.9)
       
Total Assets
$2,393.1
$2,184.0
$209.1
Capital Additions
$303.7
$299.2
$4.5


ALLETE 2010 Form 10-K
61 
 

 

Note 2.       
Business Segments (Continued)
          
 
Regulated
Investments
 
Consolidated
Operations
and Other
Millions
     
2008
     
Operating Revenue
$801.0
$712.2
$88.8
Fuel and Purchased Power
305.6
305.6
Operating and Maintenance
318.1
239.3
78.8
Depreciation Expense
55.5
50.7
4.8
Operating Income
121.8
116.6
5.2
Interest Expense
(26.3)
(24.0)
(2.3)
Equity Earnings in ATC
15.3
15.3
Other Income
15.6
3.6
12.0
Income Before Non-Controlling Interest and Income Taxes
126.4
111.5
14.9
Income Tax Expense (Benefit)
43.4
43.6
(0.2)
Net Income
83.0
67.9
15.1
Less: Non-Controlling Interest in Subsidiaries
0.5
0.5
Net Income Attributable to ALLETE
$82.5
$67.9
$14.6
       
Total Assets
$2,134.8
$1,832.1
$302.7
Capital Additions
$322.9
$317.0
$5.9


Note 3.
Property, Plant and Equipment

Property, Plant and Equipment
   
As of December 31
2010
2009
Millions
   
Regulated Utility
$2,649.2
$2,415.7
Construction Work in Progress
86.6
89.6
Accumulated Depreciation
(975.8)
(928.8)
Regulated Utility Plant – Net
1,760.0
1,576.5
Non-Rate Base Energy Operations
88.4
87.0
Construction Work in Progress
4.5
3.6
Accumulated Depreciation
(48.0)
(45.5)
Non-Rate Base Energy Operations Plant – Net
44.9
45.1
Other Plant – Net
0.7
1.1
Property, Plant and Equipment – Net
$1,805.6
$1,622.7

Depreciation is computed using the straight-line method over the estimated useful lives of the various classes of assets. The MPUC and the PSCW have approved depreciation rates for our Regulated Utility plant.

Estimated Useful Lives of Property, Plant and Equipment
         
Regulated Utility  –
Generation
1 to 35 years
Non-Rate Base Operations
3 to 61 years
 
Transmission
42 to 61 years
Other Plant
5 to 25 years
 
Distribution
14 to 65 years
   

Asset Retirement Obligations. We recognize, at fair value, obligations associated with the retirement of certain tangible, long-lived assets that result from the acquisition, construction or development and/or normal operation of the asset. Asset retirement obligations (ARO) relate primarily to the decommissioning of our utility steam generating facilities and land reclamation at BNI Coal, and are included in Other Non-Current Liabilities on our consolidated balance sheet. The associated retirement costs are capitalized as part of the related long-lived asset and depreciated over the useful life of the asset. Removal costs associated with certain distribution and transmission assets have not been recognized, as these facilities have indeterminate useful lives. Conditional asset re tirement obligations have been identified for treated wood poles and remaining polychlorinated biphenyl and asbestos-containing assets; however, removal costs have not been recognized because they are considered immaterial to our consolidated financial statements.

Long-standing ratemaking practices approved by applicable state and federal regulatory commissions have allowed provisions for future plant removal costs in depreciation rates. These plant removal cost recoveries were included in accumulated depreciation. These plant removal cost recoveries are classified either as AROs or as a regulatory liability for non-ARO obligations. To the extent annual accruals for plant removal costs differ from accruals under approved depreciation rates, a regulatory asset has been established in accordance with the guidance for AROs. (See Note 5. Regulatory Matters.)

ALLETE 2010 Form 10-K
62 
 

 

Note 3.
Property, Plant and Equipment (Continued)

Asset Retirement Obligation
 
Millions
 
Obligation as of December 31, 2008
$39.5
Accretion Expense
2.3
Additional Liabilities Incurred in 2009
2.8
Obligation as of December 31, 2009
44.6
Accretion Expense
2.9
Additional Liabilities Incurred in 2010
2.8
Obligation as of December 31, 2010
$50.3


Note 4.
Jointly-Owned Electric Facility

Following are our investments in jointly owned plants and the related ownership percentages as of December 31, 2010:

   
Plant in Service
 
Accumulated Depreciation
 
Construction Work in Progress
 
% Ownership
Millions
               
Boswell Unit 4
 
$407.5
 
$175.5
 
$19.6
 
80
CapX2020
 
 
 
11.3
 
9.3 – 14.7
Total
 
$407.5
 
$175.5
 
$30.9
   

We own 80 percent of the 585-MW Boswell Energy Center Unit 4 (Boswell Unit 4). While we operate the plant, certain decisions about the operations of Boswell Unit 4 are subject to the oversight of a committee on which we and WPPI Energy, the owner of the remaining 20 percent of Boswell Unit 4, have equal representation and voting rights. Each of us must provide our own financing and is obligated to pay our ownership share of operating costs. Our share of direct operating expenses of Boswell Unit 4 is included in operating expense on our consolidated statement of income. We are a participant in the CapX2020 initiative to ensure reliable electric transmission and distribution in the surrounding region, along with other electric cooperatives, municipals, and investor-owned utilities. We are currently participating in three CapX2020 pr ojects with varying ownership percentages.


Note 5.
Regulatory Matters

Electric Rates. Entities within our Regulated Operations segment file for periodic rate revisions with the MPUC, the FERC or the PSCW.

2010 Rate Case. On November 2, 2009, Minnesota Power filed an $81 million retail rate increase request to recover the costs of significant investments to ensure current and future system reliability, enhance environmental performance, and bring new renewable energy to northeastern Minnesota. Interim rates were put into effect on January 1, 2010, and were originally estimated to increase revenues by $48.5 million in 2010. In April 2010, we adjusted our initial filing for events that had occurred since November 2009 – primarily increased sales to our industrial customers – resulting in a retail rate increase request of $72 million, a return on equity request of 11.25 percent, and a capital structure consisting of 54.29 percent equity and 45.71 percent deb t. As a result of these increased sales, interim rates were approximately $52 million for 2010.

On November 2, 2010, Minnesota Power received a written order from the MPUC approving a retail rate increase of approximately $54 million, a 10.38 percent return on common equity and a 54.29 percent equity ratio, subject to reconsideration. In a hearing on January 19, 2011, the MPUC denied all reconsideration requests. Final rates will be implemented after acceptance of the compliance filing, estimated in the second quarter of 2011. Minnesota Power will continue to collect interim rates from its customers until the new rates go into effect. We expect no interim rate refunds will be issued.

FERC-Approved Wholesale Rates. Minnesota Power’s non-affiliated municipal customers consist of 16 municipalities in Minnesota and 1 private utility in Wisconsin. SWL&P, a wholly-owned subsidiary of ALLETE, is also a private utility in Wisconsin and a customer of Minnesota Power. In 2008, Minnesota Power entered into formula-based rate contracts with these customers. The rates included in these contracts are calculated using a cost-based formula methodology that is set at the beginning of the year using estimated costs, and provides for a true-up calculation for actual costs. The estimated true-up is recorded in the current year, then finalized and billed or paid to customers in the following year. The contracts include a termination clause requiring a 3 year n otice to terminate. To date, no termination notices have been received.

ALLETE 2010 Form 10-K
63 
 

 

Note 5.
Regulatory Matters (Continued)

2010 Wisconsin Rate Increase. During 2010, SWL&P’s retail rates were based on a 2008 PSCW retail rate order, which was effective January 1, 2009. SWL&P’s 2011 retail rates are based on a 2010 PSCW retail rate order, effective January 1, 2011, and allows for a 10.9 percent return on common equity. The new rates reflect a 2.4 percent average increase in retail utility rates for SWL&P customers (a 12.80 percent increase in water rates, a 2.49 percent increase in natural gas rates and a 0.68 percent increase in electric rates). On an annualized basis, the rate increase will generate approximately $2 million in additional revenue.

Deferred Regulatory Assets and Liabilities. Our regulated utility operations are subject to the accounting guidance on Regulated Operations. We capitalize incurred costs, as regulatory assets, which are probable of recovery in future utility rates. Regulatory liabilities represent amounts expected to be refunded or credited to customers in rates. No regulatory assets or liabilities are currently earning a return.

Deferred Regulatory Assets and Liabilities
   
As of December 31
2010
2009
Millions
   
Deferred Regulatory Assets
   
Future Benefit Obligations Under
   
Defined Benefit Pension and Other Postretirement Plans (a)
$257.9
$235.8
Boswell Unit 3 Environmental Rider (b)
20.5
20.9
Deferred Fuel (c)
20.6
20.8
Income Taxes
17.3
15.7
Asset Retirement Obligation
7.8
6.3
Deferred MISO Costs
0.9
2.4
Premium on Reacquired Debt
1.8
2.0
Other
4.0
4.8
Total Deferred Regulatory Assets
$330.8
$308.7
     
Deferred Regulatory Liabilities
   
Income Taxes
$23.4
$25.9
Plant Removal Obligations
16.9
16.9
Other
3.3
4.3
Total Deferred Regulatory Liabilities
$43.6
$47.1

(a)
See Note 15. Pension and Other Postretirement Benefit Plans.
(b)
MPUC-approved current cost recovery rider related to environmental improvements that were placed in service in November 2009. As part of our 2010 rate case, on November 2, 2010, the MPUC approved a proposal to move the rider balance to Property, Plant and Equipment to recover in rate base, which will be effective upon a final rate order.
(c)
As of December 31, 2009, under our 2008 rate case, $5 million of this balance related to deferred fuel costs incurred under the former base cost of fuel calculation. During the fourth quarter of 2010, it was determined that the asset was no longer probable of recovery in future utility rates and was therefore written off.


Current and Non-Current Deferred Regulatory Assets and Liabilities
   
As of December 31
2010
2009
Millions
   
Total Current Deferred Regulatory Assets (a)
$20.6
$15.5
Total Non-Current Deferred Regulatory Assets
310.2
293.2
Total Deferred Regulatory Assets
$330.8
$308.7
Total Current Deferred Regulatory Liabilities
Total Non-Current Deferred Regulatory Liabilities
$43.6
$47.1
Total Deferred Regulatory Liabilities
$43.6
$47.1

(a)
Current deferred regulatory assets consist of deferred fuel costs and are included in prepayments and other on the consolidated balance sheet.


Note 6.
Investment in ATC

Investment in ATC. Our wholly-owned subsidiary, Rainy River Energy, owns approximately 8 percent of ATC, a Wisconsin-based utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota, and Illinois. ATC rates are FERC approved and are based on a 12.2 percent return on common equity dedicated to utility plant. We account for our investment in ATC under the equity method of accounting. As of December 31, 2010, our equity investment balance in ATC was $93.3 million ($88.4 million at December 31, 2009). On January 31, 2011, we invested an additional $0.8 million in ATC. In total, we expect to invest approximately $2 million throughout 2011.

ALLETE 2010 Form 10-K
64 
 

 

Note 6.
Investment in ATC (Continued)

ALLETE’s Interest in ATC
   
Year Ended December 31
2010
2009
Millions
   
Equity Investment Beginning Balance
$88.4
$76.9
Cash Investments
1.6
7.8
Equity in ATC Earnings
17.9
17.5
Distributed ATC Earnings
(14.6)
(13.8)
Equity Investment Ending Balance
$93.3
$88.4

ATC Summarized Financial Data
   
Balance Sheet Data
   
As of December 31
2010
2009
Millions
   
Current Assets
$59.9
$51.1
Non-Current Assets
2,888.4
2,767.3
Total Assets
$2,948.3
$2,818.4
     
Current Liabilities
$428.4
$285.5
Long-Term Debt
1,175.0
1,259.6
Other Non-Current Liabilities
84.9
76.9
Members’ Equity
1,260.0
1,196.4
Total Liabilities and Members’ Equity
$2,948.3
$2,818.4

Income Statement Data
     
Year Ended December 31
2010
2009
2008
Millions
     
Revenue
$556.7
$521.5
$466.6
Operating Expense
251.1
230.3
209.0
Other Expense
85.9
77.8
69.6
Net Income
$219.7
$213.4
$188.0
 
ALLETE’s Equity in Net Income
$17.9
$17.5
$15.3


Note 7.
Investments

Investments. At December 31, 2010, our long-term investment portfolio included the real estate assets of ALLETE Properties, debt and equity securities consisting primarily of securities held to fund employee benefits and land held-for-sale in Minnesota.

Other Investments
   
As of December 31
2010
2009
Millions
   
ALLETE Properties
$94.0
$93.1
Available-for-sale Securities (a)
25.2
29.5
Other
6.8
7.9
Total Other Investments
$126.0
$130.5

(a)
As of December 31, 2010, our remaining $6.7 million of Auction Rate Securities were classified as short-term as they were called prior to December 31, 2010, and redeemed at carrying value on January 5, 2011.

ALLETE 2010 Form 10-K
65 
 

 

Note 7.
Investments (Continued)

ALLETE Properties
   
As of December 31
2010
2009
Millions
   
Land Held-for-Sale Beginning Balance
$74.9
$71.2
Additions during period:
   
Deeds to Collateralized Property (a)
9.9
Capitalized Improvements and Other
1.2
5.6
Deductions during period: Cost of Real Estate Sold
(1.9)
Land Held-for-Sale Ending Balance
86.0
74.9
Long-Term Finance Receivables (net of allowances of $0.8 and $0.4) (a)
3.7
12.9
Other
4.3
5.3
Total Real Estate Assets
$94.0
$93.1

(a)
The deeds to collateralized property resulted primarily from an entity which filed for voluntary Chapter 11 bankruptcy and were recorded at fair value net of estimated selling costs. The change in the long-term finance receivables was primarily a result of the same transaction.

Land Held-for-sale. Land held-for-sale is recorded at the lower of cost or fair value determined by the evaluation of individual land parcels. Land values are reviewed for impairment and no impairments were recorded for the year ended December 31, 2010 (none in 2009).

Long-Term Finance Receivables. As of December 31, 2010, long-term finance receivables were $3.7 million net of allowance ($12.9 million net of allowance as of December 31, 2009). Long-term finance receivables are collateralized by property sold, accrue interest at market-based rates and are net of an allowance for doubtful accounts. As of December 31, 2010, the reserve balance was due to an impairment of $0.8 million on a delinquent note receivable where the fair value of the collateralized property was less than the note balance ($0.3 million of impairments in 2009). This valuation technique constitutes a Level 3 non-recurring fair value measurement.

If a purchaser defaults on a sales contract, the legal remedy is usually limited to terminating the contract and retaining the purchaser’s deposit. The property is then available for resale. In many cases, contract purchasers incur significant costs during due diligence, planning, designing and marketing the property before the contract closes, therefore they have substantially more at risk than the deposit.

In June 2010, ALLETE Properties received deeds in lieu of foreclosure to properties which had been sold in multiple transactions over various years to one purchaser. The properties were sold with seller financing, of which $7.0 million remained due and owing from the purchaser that filed for voluntary Chapter 11 bankruptcy protection in June 2009. The bankruptcy trustee approved the transfer of the properties back to ALLETE Properties in satisfaction of the amount owed. The fair value of the properties received net of selling expenses was $8.8 million. The receipt of properties resulted in a pretax gain of $0.7 million after reflecting other liabilities assumed and non-controlling interest.

Available-for-Sale Investments. We account for our available-for-sale portfolio in accordance with the guidance for certain investments in debt and equity securities. Our available-for-sale securities portfolio consisted of securities established to fund certain employee benefits and auction rate securities.

Available-For-Sale Securities
Millions
 
Gross Unrealized
 
As of December 31
Cost
Gain
(Loss)
Fair Value
         
2010
$27.4
$0.2
$(2.4)
$25.2
2009
$33.1
$0.1
$(3.7)
$29.5
2008
$40.5
$(7.9)
$32.6


     
Net Unrealized
 
Net
Gross Realized
Gain (Loss) in Other
Year Ended December 31
Proceeds
Gain
(Loss)
Comprehensive Income
         
2010
$(1.7)
$1.4
2009
$6.7
$4.5
2008
$17.5
$6.5
$(0.1)
$(9.7)

Auction Rate Securities. As of December 31, 2010, our ARS were classified as a short-term investment as the remaining balance of $6.7 million was redeemed at carrying value on January 5, 2011. As of December 31, 2009, our ARS were classified as long-term investments.

ALLETE 2010 Form 10-K
66 
 

 

Note 8.
Fair Value

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We utilize market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. We primarily apply the market approach for recurring fair value measurements and endeavor to utilize the best available information. Accordingly, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs, which are used to measure fair value, are prioritized through the fair value hierarch y. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:

Level 1 — Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. This category includes primarily mutual fund investments held to fund employee benefits.

Level 2 — Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reported date. The types of assets and liabilities included in Level 2 are typically either comparable to actively traded securities or contracts, such as treasury securities with pricing interpolated from recent trades of similar securities, or priced with models using highly observable inputs, such as commodity options priced using observable forward prices and volatilities. This category includes deferred compensation, fixed income securities, and derivative instruments consisting of cash flow hedges.

Level 3 — Significant inputs that are generally less observable from objective sources. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation, such as the complex and subjective models and forecasts used to determine the fair value. This category includes ARS consisting of guaranteed student loans and derivative instruments consisting of FTRs.

The following tables set forth by level within the fair value hierarchy, our assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2010, and December 31, 2009. Each asset and liability is classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.

 
At Fair Value as of December 31, 2010
Recurring Fair Value Measures
Level 1
Level 2
Level 3
Total
Millions
       
Assets:
       
Equity Securities
$19.4
$19.4
Available-for-sale Securities
       
Corporate Debt Securities
$7.5
7.5
Debt Securities Issued by States of the United States (ARS) (a)
$6.7
6.7
Total Available-for-sale Securities
7.5
6.7
14.2
Money Market Funds
0.8
0.8
Total Fair Value of Assets
$20.2
$7.5
$6.7
$34.4
         
Liabilities:
       
Deferred Compensation
$13.3
$13.3
Total Fair Value of Liabilities
$13.3
$13.3
         
Total Net Fair Value of Assets (Liabilities)
$20.2
$(5.8)
$6.7
$21.1

(a)
The remaining $6.7 million of ARS were redeemed at carrying value on January 5, 2011.


   
Debt Securities
   
Issued by the States
Recurring Fair Value Measures
 
of the United States
Activity in Level 3
Derivatives
(ARS)
Millions
   
Balance as of December 31, 2009
$0.7
$6.7
Purchases, sales, issuances and settlements, net
(0.7)
Level 3 transfers in
Balance as of December 31, 2010 (a)
$6.7

(a)
The remaining $6.7 million of ARS were redeemed at carrying value on January 5, 2011.


ALLETE 2010 Form 10-K
67 
 

 

Note 8.
Fair Value (Continued)
              
 
At Fair Value as of December 31, 2009
Recurring Fair Value Measures
Level 1
Level 2
Level 3
Total
Millions
       
Assets:
       
Equity Securities
$17.8
$17.8
Available-for-sale Securities
       
Corporate Debt Securities
$6.4
6.4
Debt Securities Issued by States of the United States (ARS)
$6.7
6.7
Total Available-for-sale Securities
6.4
6.7
13.1
Derivatives
0.7
0.7
Money Market Funds
1.4
1.4
Total Fair Value of Assets
$19.2
$6.4
$7.4
$33.0
         
Liabilities:
       
Deferred Compensation
$14.6
$14.6
Total Fair Value of Liabilities
$14.6
$14.6
         
Total Net Fair Value of Assets (Liabilities)
$19.2
$(8.2)
$7.4
$18.4


   
Debt Securities
   
Issued by the States
Recurring Fair Value Measures
 
of the United States
Activity in Level 3
Derivatives
(ARS)
Millions
   
Balance as of December 31, 2008
$15.2
Purchases, sales, issuances and settlements, net (a)
$0.7
(8.5)
Level 3 transfers in
Balance as of December 31, 2009
$0.7
$6.7

(a)
ARS were redeemed during 2009 at carrying value.

The Company’s policy is to recognize transfers in and transfers out as of the actual date of the event or change in circumstances that caused the transfer. For the year ended December 31, 2010 and 2009, there were no transfers in or out of Levels 1, 2 or 3.

Fair Value of Financial Instruments. With the exception of the items listed below, the estimated fair value of all financial instruments approximates the carrying amount. The fair value for the items below were based on quoted market prices for the same or similar instruments.

Financial Instruments
Carrying Amount
Fair Value
Millions
   
Long-Term Debt, Including Current Portion
   
December 31, 2010
$785.0
$796.7
December 31, 2009
$701.0
$734.8


Note 9.
Short-Term and Long-Term Debt

Short-Term Debt. Total short-term debt outstanding as of December 31, 2010, was $14.4 million ($7.1 million at December 31, 2009) and consisted of long-term debt due within one year and notes payable. (See ALLETE consolidated balance sheet.)

As of December 31, 2010, we had bank lines of credit aggregating $154.0 million ($157.0 million at December 31, 2009), the majority of which expire in January 2012. We expect to enter into new bank lines of credit during 2011 to replace the expiring facility. These bank lines of credit are available to provide short-term bank loans and credit support for commercial paper. At December 31, 2010, $1.0 million ($69.2 million at December 31, 2009) was drawn on our lines of credit leaving a $153.0 million balance available for use ($87.8 million at December 31, 2009). In December 2009, we drew $65.0 million on our $150.0 million syndicated revolving credit facility to temporarily fund the purchase of the 250 kV DC transmission line. In February 2010, we issued $80.0 million of First Mortgage Bonds (Bonds) (see Long-Term Debt, below). We used the proceeds from the sale of the Bonds to pay off the outstanding amount drawn on the line, resulting in the $65.0 million borrowing under our line of credit being classified as long-term debt at December 31, 2009.

ALLETE 2010 Form 10-K
68 
 

 

Note 9.
Short-Term and Long-Term Debt (Continued)

On November 12, 2009, BNI Coal replaced a $6.0 million Promissory Note and Supplement (Line of Credit) with CoBANK, ACB with a $3.0 million Line of Credit and a $3.0 million term loan with CoBANK, ACB. The Line of Credit was renewed on December 22, 2010, and now expires on November 20, 2012. The Line of Credit is being used for general corporate purposes. As of December 31, 2010, $1.0 million was drawn on the Line of Credit. The $3.0 million term loan has a fixed interest rate of 5.19 percent and is payable in 28 equal quarterly installments commencing January 20, 2010, and ending on October 20, 2016.

Long-Term Debt. The aggregate amount of long-term debt maturing during 2011 is $13.4 million ($3.3 million in 2012; $73.9 million in 2013; $19.5 million in 2014; $16.3 million in 2015; and $658.6 million thereafter). Substantially all of our electric plant is subject to the lien of the mortgages collateralizing various First Mortgage Bonds. The mortgages contain non-financial covenants customary in utility mortgages, including restrictions on our ability to incur liens, dispose of assets, and merge with other entities.

In February 2010, we issued $80.0 million in principal amount of unregistered First Mortgage Bonds in the private placement market in three series as follows:

Issue Date
Maturity
Principal Amount
Interest Rate
February 17, 2010
April 15, 2021
$15 Million
4.85%
February 17, 2010
April 15, 2025
$30 Million
5.10%
February 17, 2010
April 15, 2040
$35 Million
6.00%

We used the proceeds from the sale of the bonds to pay off an outstanding balance of $65 million on our syndicated revolving credit facility, to fund utility capital investments and for general corporate purposes.

In August 2010, we issued $75.0 million in principal amount of unregistered First Mortgage Bonds in the private placement market in two series as follows:

Issue Date
Maturity
Principal Amount
Interest Rate
August 17, 2010
October 15, 2025
$30 Million
4.90%
August 17, 2010
April 15, 2040
$45 Million
5.82%

We used the proceeds to fund utility capital investments and for general corporate purposes.

For the February and August 2010 bond issuances (the Bonds), we have the option to prepay all or a portion of the Bonds at our discretion, subject to a make-whole provision. The Bonds are subject to the terms and conditions of our utility mortgage. The Bonds were sold in reliance on an exemption from registration under Section 4(2) of the Securities Act of 1933, as amended, to institutional accredited investors.

ALLETE 2010 Form 10-K
69 
 

 

Note 9.
Short-Term and Long-Term Debt (Continued)

Long-Term Debt
   
As of December 31
2010
2009
Millions
   
First Mortgage Bonds
   
4.86% Series Due 2013
$60.0
$60.0
6.94% Series Due 2014
18.0
18.0
7.70% Series Due 2016
20.0
20.0
8.17% Series Due 2019
42.0
42.0
5.28% Series Due 2020
35.0
35.0
4.85% Series Due 2021
15.0
4.95% Pollution Control Series F Due 2022
111.0
111.0
6.02% Series Due 2023
75.0
75.0
   4.90% Series Due 2025
30.0
5.10% Series Due 2025
30.0
5.99% Series Due 2027
60.0
60.0
5.69% Series Due 2036
50.0
50.0
   6.00% Series Due 2040
35.0
   5.82% Series Due 2040
45.0
SWL&P First Mortgage Bonds
   
7.25% Series Due 2013
10.0
10.0
Senior Unsecured Notes 5.99% Due 2017
50.0
50.0
Variable Demand Revenue Refunding Bonds Series 1997 A, B, and C Due 2012 – 2020
28.3
28.3
Industrial Development Revenue Bonds 6.5% Due 2025
6.0
6.0
Industrial Development Variable Rate Demand Refunding
   
Revenue Bonds Series 2006 Due 2025
27.8
27.8
Line of Credit Facility (a)
65.0
Other Long-Term Debt, 1.0% – 8.0% Due 2011 – 2037
36.9
42.9
Total Long-Term Debt
785.0
701.0
Less: Due Within One Year
13.4
5.2
Net Long-Term Debt
$771.6
$695.8

 (a)
A portion of the proceeds from the issuance on February 17, 2010, of $80 million principal amount of First Mortgage Bonds due in 2021, 2025 and 2040, was used to repay the outstanding borrowings on the Line of Credit Facility as of December 31, 2009.

Financial Covenants. Our long-term debt arrangements contain customary covenants. In addition, our lines of credit and letters of credit supporting certain long-term debt arrangements contain financial covenants. The most restrictive covenant requires ALLETE to maintain a ratio of its Funded Debt to Total Capital (as the amounts are calculated in accordance with the respective long-term debt arrangements) of less than or equal to 0.65 to 1.00 measured quarterly. As of December 31, 2010, our ratio was approximately 0.43 to 1.00. Failure to meet this covenant would give rise to an event of default if not cured after notice from the lender, in which event ALLETE may need to pursue alternative sources of funding. Some of ALLETE’s debt arrangements contain “cross-defau lt” provisions that would result in an event of default if there is a failure under other financing arrangements to meet payment terms or to observe other covenants that would result in an acceleration of payments due. As of December 31, 2010, ALLETE was in compliance with its financial covenants.


Note 10.
Commitments, Guarantees and Contingencies

Power Purchase Agreements. Our long-term PPAs have been evaluated under the accounting guidance for variable interest entities. We have determined that either we have no variable interest in the PPA, or where we do have variable interests, we are not the primary beneficiary; therefore, consolidation is not required. These conclusions are based on the fact that we do not have both control over activities that are most significant to the entity and an obligation to absorb losses or receive benefits from the entity’s performance. Our financial exposure relating to these PPA is limited to our fixed capacity and energy payments.

Square Butte PPA. Minnesota Power has a power purchase agreement with Square Butte that extends through 2026 (Agreement). It provides a long-term supply of energy to customers in our electric service territory and enables Minnesota Power to meet power pool reserve requirements. Square Butte, a North Dakota cooperative corporation, owns a 455-MW coal-fired generating unit (Unit) near Center, North Dakota. The Unit is adjacent to a generating unit owned by Minnkota Power, a North Dakota cooperative corporation whose Class A members are also members of Square Butte. Minnkota Power serves as the operator of the Unit and also purchases power from Square Butte.

ALLETE 2010 Form 10-K
70 
 

 

Note 10.
Commitments, Guarantees and Contingencies (Continued)

Minnesota Power is obligated to pay its pro rata share of Square Butte’s costs based on Minnesota Power’s entitlement to Unit output. Our output entitlement under the Agreement is 50 percent for the remainder of the contract, subject to the provisions of the Minnkota power sales agreement described below. Minnesota Power’s payment obligation will be suspended if Square Butte fails to deliver any power, whether produced or purchased, for a period of one year. Square Butte’s costs consist primarily of debt service, operating and maintenance, depreciation and fuel expenses. We expect debt service, operating and maintenance and depreciation expenses for Square Butte to increase in 2011 due to environmental compliance obligations. As of December 31, 2010, Square Butte had total debt outstanding of $379.6 mi llion. Annual debt service for Square Butte is expected to be approximately $39 million in each of the five years, 2011 through 2015. Fuel expenses are recoverable through our fuel adjustment clause and include the cost of coal purchased from BNI Coal, our subsidiary, under a long-term contract.

Minnesota Power’s cost of power purchased from Square Butte during 2010 was $55.2 million ($53.9 million in 2009; $56.7 million in 2008). This reflects Minnesota Power’s pro rata share of total Square Butte costs, based on the 50 percent output entitlement in 2010 (50 percent in 2009; 55 percent in 2008). Included in this amount was Minnesota Power’s pro rata share of interest expense of $10.2 million in 2010 ($11.0 million in 2009; $11.6 million in 2008). Minnesota Power’s payments to Square Butte are approved as a purchased power expense for ratemaking purposes by both the MPUC and the FERC.

Minnkota Power Sales Agreement. In conjunction with the purchase of the existing 250 kV DC transmission line from Square Butte on December 31, 2009, Minnesota Power entered into a contingent power sales agreement with Minnkota Power. Under the power sales agreement, Minnesota Power will sell a portion of its output from Square Butte to Minnkota, resulting in Minnkota’s net entitlement increasing and Minnesota Power’s net entitlement decreasing until Minnesota Power’s share is eliminated at the end of 2025.

No power will be sold under this agreement until Minnkota Power has placed in service a new AC transmission line, which is anticipated to occur in 2013. This new AC transmission line will allow Minnkota to transmit its entitlement from Square Butte directly to its customers, which, in turn, will provide Minnesota Power with additional capacity on the DC line to transmit new wind generation.

Wind PPA. In 2006 and 2007, we entered into two long-term wind PPA with an affiliate of NextEra Energy, Inc. to purchase the output from two wind facilities, Oliver Wind I (50 MW) and Oliver Wind II (48 MW), located near Center, North Dakota. Each agreement is for 25 years and provides for the purchase of all output from the facilities at fixed prices. There are no fixed capacity charges, and we only pay for energy as it is delivered to us.

Hydro PPA. We have a PPA with Manitoba Hydro that began in May 2009 and expires in April 2015. Under the agreement with Manitoba Hydro, Minnesota Power is currently purchasing 50 MW of capacity and the energy associated with that capacity. Both the capacity price and the energy price are adjusted annually by the change in a governmental inflationary index.

On April 30, 2010, Minnesota Power signed a definitive agreement with Manitoba Hydro, subject to MPUC approval, to purchase surplus energy beginning in May 2011 through April 2022. This energy-only transaction primarily consists of surplus hydro energy on Manitoba Hydro’s system that is delivered to Minnesota Power on a non-firm basis. The pricing is based on forward market prices. Under this agreement with Manitoba Hydro, Minnesota Power will be purchasing at least one million MWh of energy over the contract term. On September 1, 2010, we filed a petition with the MPUC to approve our PPA with Manitoba Hydro. On October 28, 2010, the OES filed comments recommending approval.

North Dakota Wind Development. On December 31, 2009, we purchased an existing 250 kV DC transmission line from Square Butte for $69.7 million. The 465-mile transmission line runs from Center, North Dakota, to Duluth, Minnesota. We use this line to transport increasing amounts of wind energy from North Dakota while gradually phasing out coal-based electricity currently being delivered to our system over this transmission line from Square Butte’s lignite coal-fired generating unit.

Bison 1 is a two phase, 82 MW wind project in North Dakota. All permitting has been received and the first phase was completed in 2010. Phase one included construction of a 22-mile, 230 kV transmission line and the installation of 16 2.3 MW wind turbines, all of which were in-service at the end of 2010. Phase two is expected to be completed late in 2011 and consists of the installation of 15 3.0 MW wind turbines. Bison 1 is expected to have a total capital cost of approximately $177 million, of which $121 million was spent through December 31, 2010. In 2009, the MPUC approved Minnesota Power’s petition seeking current cost recovery eligibility for investments and expenditures related to Bison 1, and in July 2010, the MPUC approved our petition establishing rates effective August 1, 2010.

Leasing Agreements. BNI Coal is obligated to make lease payments for a dragline totaling $2.8 million annually for the lease term which expires in 2027. BNI Coal has the option at the end of the lease term to renew the lease at fair market value, to purchase the dragline at fair market value, or to surrender the dragline and pay a $3.0 million termination fee. We lease other properties and equipment under operating lease agreements with terms expiring through 2016. The aggregate amount of minimum lease payments for all operating leases is $8.1 million in 2011, $8.4 million in 2012, $8.5 million in 2013, $8.7 million in 2014, $8.4 million in 2015 and $44.7 million thereafter. Total rent and lease expense was $9.4 million in 2010 ($9.3 million in 2009; $8.5 million in 2008).


ALLETE 2010 Form 10-K
71 
 

 

Note 10.
Commitments, Guarantees and Contingencies (Continued)

Coal, Rail and Shipping Contracts. We have coal supply agreements and transportation agreements providing for the purchase and delivery of a significant portion of our coal requirements. These coal and transportation agreements, including option terms, expire in various years between 2011 and 2015. Our minimum annual payment obligation for 2011 is $41.0 million, 2012 is $1.6 million, and 2013 is $1.4 million. Our minimum annual payment obligations will increase when annual nominations are made for coal deliveries in future years. The delivered costs of fuel for Minnesota Power’s generation are recoverable from Minnesota Power’s utility customers through the fuel adjustment clause.

CapX2020 Transmission Projects. Minnesota Power is a participant in the CapX2020 initiative which represents an effort to ensure electric transmission and distribution reliability in Minnesota and the surrounding region for the future. CapX2020, which consists of electric cooperatives, municipals and investor-owned utilities, including Minnesota’s largest transmission owners, has assessed the transmission system and projected growth in customer demand for electricity through 2020. Studies show that the region's transmission system will require major upgrades and expansion to accommodate increased electricity demand as well as support renewable energy expansion through 2020. As future CapX2020 projects are identified, Minnesota Power may elect to participate on a project̵ 1;by-project basis.

Minnesota Power is currently participating in three CapX2020 projects: the Fargo to St. Cloud project, the Monticello to St. Cloud project, which together total a 238-mile, 345 kV line from Fargo to Monticello, and the 70-mile, 230 kV line between Bemidji and Minnesota Power’s Boswell Energy Center near Grand Rapids, Minnesota. Based on projected costs of the three transmission lines and the percentage agreements among participating utilities, Minnesota Power plans to invest between $100 million and $125 million in the CapX2020 initiative through 2015, of which $11.3 million was spent through December 31, 2010.

In July 2010, the MPUC granted a route permit for the 28-mile 345 kV transmission line between Monticello and St. Cloud. Construction of the project is expected to be complete in late 2011. The 210-mile 345 kV transmission line from St. Cloud to Fargo is expected to be complete by 2015. Construction for the Bemidji to Grand Rapids 230 kV line project commenced in January 2011.

We have an approved cost recovery rider in place for certain transmission expenditures, and our current billing factor was approved by the MPUC in June 2009. The billing factor allows us to charge our retail customers on a current basis for the costs of constructing certain transmission facilities plus a return on the capital invested. In our 2010 rate case we moved completed transmission projects from the current cost recovery rider to base rates. In July 2010, we filed for an updated billing factor that includes additional transmission projects and expenses, including the CapX2020 projects, which we expect to be approved in early 2011.


Environmental Matters.

Our businesses are subject to regulation of environmental matters by various federal, state and local authorities. Currently, a number of regulatory changes to the Clean Air Act, the Clean Water Act, and various waste management requirements are under consideration by both Congress and the EPA. Minnesota Power’s fossil fuel facilities will likely be subject to regulation under these proposals. Our intention is to reduce our exposure to these requirements by reshaping our generation portfolio, over time, to reduce our reliance on coal.

We consider our businesses to be in substantial compliance with currently applicable environmental regulations and believe all necessary permits to conduct such operations have been obtained. Due to future restrictive environmental requirements through legislation and/or rulemaking, we anticipate that potential expenditures for environmental matters will be material and will require significant capital investments.

We review environmental matters on a quarterly basis. Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information become available. Accruals for environmental liabilities are included in the consolidated balance sheet at undiscounted amounts and exclude claims for recoveries from insurance or other third parties. Costs related to environmental contamination treatment and cleanup are charged to expense unless recoverable in rates from customers.

Air. The electric utility industry is heavily regulated both at the Federal and State level to address air emissions. Minnesota Power’s generating facilities mainly burn low-sulfur western sub-bituminous coal. Square Butte, located in North Dakota, burns lignite coal. All of Minnesota Power’s generating facilities are equipped with pollution control equipment such as scrubbers, bag houses, and low NOx technologies. At this time, these facilities are substantially compliant with applicable emission requirements.


ALLETE 2010 Form 10-K
72 
 

 

Note 10.
Commitments, Guarantees and Contingencies (Continued)
Environmental Matters (Continued)

New Source Review. In August 2008, Minnesota Power received a Notice of Violation (NOV) from the United States EPA asserting violations of the New Source Review (NSR) requirements of the Clean Air Act at Boswell Units 1-4 and Laskin Unit 2. The NOV asserts that seven projects undertaken at these coal-fired plants between the years 1981 and 2000 should have been reviewed under the NSR requirements, and that the Boswell Unit 4 Title V permit was violated. Minnesota Power believes the projects were in full compliance with the Clean Air Act, NSR requirements and applicable permits.

We are engaged in discussions with the EPA regarding resolution of these matters, but we are unable to predict the outcome of these discussions. Since 2006, Minnesota Power has significantly reduced emissions at Laskin and Boswell, and continues to reduce emissions at Boswell. The resolution could result in civil penalties and the installation of control technology, some of which is already planned or completed for other regulatory requirements. Any costs of installing pollution control technology would likely be eligible for recovery in rates over time subject to MPUC and FERC approval in a rate proceeding. We are unable to predict the ultimate financial impact or the resolution of these matters at this time.

EPA Transport Rule. On July 6, 2010, the EPA proposed a rule known as the Transport Rule (TR) requiring 31 states, including Minnesota and the District of Columbia, to reduce power plant SO2 and NOx emissions that can significantly contribute to ozone and fine particle pollution problems in other states. If adopted, the TR will replace the Clean Air Interstate Rule (CAIR) that was issued by the EPA in March 2005. Minnesota was included as one of the original 28 CAIR states but, following Minnesota Power’s successful challenge to CAIR, the EPA granted an administrative stay of the CAIR requirements in Minnesota while it prepared the TR. The proposed TR responds to the United States Court of Appeals for the District of Columbia Circuit’s remand of CAIR by replacing and reforming provisions to address updated air quality standards, improved emissions data and reformed emissions transport modeling.

The EPA took public comments on the proposed rule through October 1, 2010, and plans to finalize the rule in June 2011. Emissions reductions are proposed to take effect in 2012, within one year of projected finalization of the rule.

The EPA has not yet determined whether trading of emission allowances between regulated generating units or states may be implemented. Since 2006, we have made substantial investments in pollution control equipment at our Laskin, Taconite Harbor and Boswell generating units which have significantly reduced emissions. These reductions may satisfy Minnesota Power’s obligations with respect to these requirements. We are unable to predict any additional compliance costs we might incur at this time.

Minnesota Regional Haze. The federal regional haze rule requires states to submit state implementation plans (SIPs) to the EPA to address regional haze visibility impairment in 156 federally-protected parks and wilderness areas. Under the regional haze rule, certain large stationary sources, put in place between 1962 and 1977, with emissions contributing to visibility impairment are required to install emission controls, known as Best Available Retrofit Technology (BART). We have two steam units, Boswell Unit 3 and Taconite Harbor Unit 3, which are subject to BART requirements.

Pursuant to the regional haze rule, Minnesota was required to develop its SIP by December 2007. As a mechanism for demonstrating progress towards meeting the long-term regional haze goal, in April 2007 the MPCA advanced a draft conceptual SIP which relied on the implementation of CAIR. However, a formal SIP was not filed at that time due to the United States Court of Appeals for the District of Columbia Circuit’s remand of CAIR. Subsequently, the MPCA requested that companies with BART eligible units complete and submit a BART emissions control retrofit study, which was completed for Taconite Harbor Unit 3 in November 2008. The retrofit work completed in 2009 at Boswell Unit 3 meets the BART requirements for that unit. In December 2009, the MPCA approved the SIP for submittal to the EPA for its review and approval. Approval by th e EPA is pending on whether to approve the Minnesota SIP. If approved, Minnesota Power will have five years to bring Taconite Harbor Unit 3 into compliance. It is uncertain what controls will ultimately be required at Taconite Harbor Unit 3 in connection with the regional haze rule.

EPA National Emission Standards for Hazardous Air Pollutants (NESHAPs) for Electric Utility Units. Under Section 112 of the Clean Air Act, the EPA is required to set emission standards for hazardous air pollutants for certain source categories. In December 2009, Minnesota Power and other utilities received an Information Collection Request from the EPA requiring that emissions data be provided and stack testing be performed in order to develop a database upon which to base future regulations. On March 30, 2010, Minnesota Power responded to the Information Collection Request. Stack testing was completed during the third quarter of 2010 and the results were submitted to the EPA. The EPA is subject to a consent decree which requires the EPA to propose a utility NESHAPs rul e by March 2011, with the final rule by November 2011. As part of the NESHAPs rulemaking, EPA will develop Maximum Achievable Control Technology standards for utilities. Costs for complying with potential future mercury and other hazardous air pollutant regulations under the Clean Air Act cannot be estimated at this time.

Minnesota Mercury Emission Reduction Act. Under Minnesota law, a mercury emissions reduction plan for Boswell Unit 4 is required to be submitted by July 1, 2015, with implementation no later than December 31, 2018. The statute also calls for an evaluation of a mercury control alternative which provides for environmental and public health benefits without imposing excessive costs on the utility’s customers. Costs for the Boswell Unit 4 emission reduction plan cannot be estimated at this time.

ALLETE 2010 Form 10-K
73 
 

 

 
Note 10.
Commitments, Guarantees and Contingencies (Continued)
Environmental Matters (Continued)

Proposed and Finalized National Ambient Air Quality Standards. The EPA is required to review the National Ambient Air Quality Standards (NAAQS) every five years. Each state is required to adopt plans describing how they will reduce emissions to attain these NAAQS if the state’s air quality is not in compliance with a NAAQS. These state plans often include more stringent air emission limitations on sources of air pollutants in the state. Four NAAQS have either recently been revised, or are currently proposed for revision, as described below.

Ozone NAAQS. The EPA is proposing to more stringently control emissions that result in ground level ozone. In January 2010, the EPA proposed to reduce the eight-hour ozone standard and to adopt a secondary standard for the protection of sensitive vegetation from ozone-related damage. The EPA expects to issue final standards by July 2011. As proposed, states have until early 2014 to submit plans outlining how they will meet the standards.

Particulate Matter NAAQS. The EPA finalized the NAAQS Particulate Matter standards in September 2006. The EPA established a more stringent 24-hour average fine particulate (PM2.5) standard and kept the annual average fine particulate matter standard and the 24-hour coarse particulate matter standard unchanged. The District of Columbia Circuit Court of Appeals has remanded the PM2.5 standard to the EPA, requiring consideration of lower annual average standard values. The EPA has indicated that ambient air quality monitoring for 2008 through 2010 will be used as a basis for states to characterize their attainment status. The EPA plans to finalize the new PM2.5 standards in 2011, and state attainment status determination will likely not occur prior to 2013. As early as late 2014, affected sources would have to take additional control measures if modeling demonstrates non-compliance at the property boundary.

SO2 and NO2 NAAQS. The EPA recently finalized a new one-hour NAAQS for SO2 and NO2. Monitor data indicates that Minnesota will likely be in compliance with these new standards; however, the SO2 NAAQS also requires the EPA to evaluate modeling data to determine attai nment. It is unclear what the outcome of this evaluation will be. These NAAQS could also result in more stringent emission limits on our steam generating facilities, possibly resulting in additional control measures on some of our units.

We are unable to predict the nature or timing of any additional NAAQS regulation or compliance costs we might incur at this time.

Climate Change. Minnesota Power is addressing climate change by taking the following steps that also ensure reliable and environmentally compliant generation resources to meet our customer’s requirements:

·  
Expand our renewable energy supply.
·  
Improve the efficiency of our coal-based generation facilities, as well as other process efficiencies.
·  
Provide energy conservation initiatives for our customers and engage in other demand side efforts.
·  
Support research of technologies to reduce carbon emissions from generation facilities and support carbon sequestration efforts.
·  
Achieve overall carbon emission reductions.

The scientific community generally accepts that emissions of GHGs are linked to global climate change. Climate change creates physical and financial risk. These physical risks could include, but are not limited to, increased or decreased precipitation and water levels in lakes and rivers; increased temperatures; and the intensity and frequency of extreme weather events. These all have the potential to affect the Company’s business and operations.

Midwestern Greenhouse Gas Reduction Accord. Minnesota is also participating in the Midwestern Greenhouse Gas Reduction Accord (the Accord), a regional effort to develop a multi-state approach to GHG emission reductions. The Accord includes an agreement to develop a multi-sector cap-and-trade system to help meet the targets established by the group.

EPA Regulation of GHG Emissions. On May 13, 2010, the EPA issued the final Prevention of Significant Deterioration (PSD) and Title V Greenhouse Gas Tailoring Rule (Tailoring Rule). The PSD/Tailoring Rule establishes permitting thresholds required to address GHG emissions for new facilities, at existing facilities that undergo major modifications, and at other facilities characterized as major sources under the Clean Air Act’s Title V program.

For our existing facilities, the rule does not require amending our existing Title V Operating Permits to include GHGs requirements. Implementation of the requirement to add GHG provisions to permits will be completed at the state level in Minnesota by the MPCA when the Title V permits are renewed. However, installation of new units or modification of existing units resulting in a significant increase in GHG emissions will require obtaining PSD permits and amending our operating permits to demonstrate that Best Available Control Technology (BACT) is being used at the facility to control GHG emissions. The EPA has defined significant emissions increase for existing sources as a GHG increase of 75,000 tons per year or more of total GHG on a CO2 equivalent basis.


ALLETE 2010 Form 10-K
74 
 

 

Note 10.
Commitments, Guarantees and Contingencies (Continued)
Environmental Matters (Continued)

In late 2010, the EPA issued guidance to permitting authorities and affected sources to facilitate incorporation of the Tailoring Rule permitting requirements into the Title V and PSD permitting programs. The guidance stated that the project-specific top-down BACT determination process used for other pollutants will also be used to determine BACT for GHG emissions. Through sector-specific white papers, EPA also provided examples and technical summaries of GHG emission control technologies and techniques EPA considers available or likely to be available to sources. It is possible these control technologies could be determined to be BACT on a project by project basis. In the near term, one option appears to be energy efficiency maximization.

Legal challenges to the EPA’s regulation of GHG emissions, including the Tailoring Rule, have been filed and are awaiting judicial determination. Comments to the Permitting Guidance were also submitted and may be addressed by EPA in the form of revised guidance documents.

We cannot predict the nature or timing of any additional GHG legislation or regulation. Although we are unable to predict the compliance costs we might incur, the costs could have a material impact on our financial results.

Coal Ash Management Facilities. Minnesota Power generates coal ash at all five of its steam electric stations. Two facilities store ash in onsite impoundments (ash ponds) with engineered liners and containment dikes. Another facility stores dry ash in a landfill with an engineered liner and leachate collection system. Two facilities generate a combined wood and coal ash that is either land applied as an approved beneficial use, or trucked to state permitted landfills. On June 18, 2010, the EPA proposed regulations for coal combustion residuals generated by the electric utility sector. The proposal sought comments on three general regulatory schemes for coal ash. Public comments were submitted to the EPA by November 19, 2010. We are unable to predict the complia nce costs we might incur; however, there is the possibility they could have a material impact.

Manufactured Gas Plant Site. We are reviewing and addressing environmental conditions at a former manufactured gas plant site within the City of Superior, Wisconsin, and formerly operated by SWL&P. We have been working with the WDNR to determine the extent of contamination and the remediation of contaminated locations. At December 31, 2010, we have a $0.5 million liability for this site, and a corresponding regulatory asset as we expect recovery of remediation costs to be allowed by the PSCW.


Other Matters

BNI Coal. As of December 31, 2010, BNI Coal had surety bonds outstanding of $18.4 million related to the reclamation liability for closing costs associated with its mine and mine facilities. Although the coal supply agreements obligate the customers to provide for the closing costs, additional assurance is required by federal and state regulations. In addition to the surety bonds, BNI Coal has secured a letter of credit with CoBANK ACB for an additional $10.0 million, of which $6.7 million is needed to meet the requirements for BNI Coal’s total reclamation liability currently estimated at $25.1 million. BNI Coal does not believe it is likely that any of these outstanding bonds will be drawn upon.

ALLETE Properties. As of December 31, 2010, ALLETE Properties, through its subsidiaries, had surety bonds outstanding of $11.6 million primarily related to performance and maintenance obligations to governmental entities to construct improvements in their various projects. The remaining work to be completed on these improvements is estimated to be approximately $9.0 million, and ALLETE Properties does not believe it is likely that any of these outstanding bonds will be drawn upon.

Community Development District Obligations. In March 2005, the Town Center District issued $26.4 million of tax-exempt, 6 percent capital improvement revenue bonds; and in May 2006, the Palm Coast Park District issued $31.8 million of tax-exempt, 5.7 percent special assessment bonds. The capital improvement revenue bonds and the special assessment bonds are payable through property tax assessments on the land owners over 31 years (by May 1, 2036, and 2037, respectively). The bond proceeds were used to pay for the construction of a portion of the major infrastructure improvements in each district, and to mitigate traffic and environmental impacts. The bonds are payable from and secured by the revenue derived from assessments imposed, levied and collected by each district. The asses sments were billed to the landowners in November 2006, for Town Center and November 2007, for Palm Coast Park. To the extent that we still own land at the time of the assessment, we will incur the cost of our portion of these assessments, based upon our ownership of benefited property. At December 31, 2010, we owned 69 percent of the assessable land in the Town Center District (69 percent at December 31, 2009) and 93 percent of the assessable land in the Palm Coast Park District (86 percent at December 31, 2009). At these ownership levels our annual assessments are $1.4 million for Town Center and $2.1 million for Palm Coast Park. As we sell property, the obligation to pay special assessments will pass to the new landowners. Under current accounting rules, these bonds are not reflected as debt on our consolidated balance sheet.


ALLETE 2010 Form 10-K
75 
 

 

Note 10.
Commitments, Guarantees and Contingencies (Continued)

Legal Proceedings. In January 2011, the Company was named as a defendant in a lawsuit in the Sixth Judicial District for the State of Minnesota by one of our customer’s, United Taconite, LLC, property and business interruption insurers. In October 2006, United Taconite experienced a fire as a result of the failure of certain electrical protective equipment. The equipment at issue in the incident was not owned, designed, or installed by Minnesota Power, but Minnesota Power had provided testing and calibration services related to the equipment. The lawsuit alleges approximately $20 million in damages related to the fire. The Company believes that it has strong defenses to the lawsuit and intends to vigorously assert such defenses. An expense related to any damages th at may result from the lawsuit has not been recorded as of December 31, 2010, because a potential loss is not currently probable or reasonably estimable; however, the Company believes it has adequate insurance coverage for potential loss.

Other. We are involved in litigation arising in the normal course of business. Also in the normal course of business, we are involved in tax, regulatory and other governmental audits, inspections, investigations and other proceedings that involve state and federal taxes, safety, compliance with regulations, rate base and cost of service issues, among other things. While the resolution of such matters could have a material effect on earnings and cash flows in the year of resolution, none of these matters are expected to materially change our present liquidity position, or have a material adverse effect on our financial condition.


Note 11.
Common Stock and Earnings Per Share

Summary of Common Stock
Shares
Equity
 
Thousands
Millions
Balance as of December 31, 2007
30,827
$461.2
2008   Employee Stock Purchase Plan
17
0.6
Invest Direct
161
6.9
Options and Stock Awards
24
4.6
Equity Issuance Program
1,556
60.8
Balance as of December 31, 2008
32,585
$534.1
2009   Employee Stock Purchase Plan
24
0.7
Invest Direct
456
13.6
Options and Stock Awards
8
1.1
Equity Issuance Program
1,685
51.9
Contributions to Pension
463
12.0
Balance as of December 31, 2009
35,221
$613.4
2010   Employee Stock Purchase Plan
19
0.6
Invest Direct
346
11.7
Options and Stock Awards
51
4.4
Equity Issuance Program
180
6.0
Balance as of December 31, 2010
35,817
$636.1

Equity Issuance Program. We entered into a distribution agreement with KCCI, Inc., in February 2008, as amended, with respect to the issuance and sale of up to an aggregate of 6.6 million shares of our common stock, without par value. For the year ended December 31, 2010, 0.2 million shares of common stock were issued under this agreement resulting in net proceeds of $6.0 million. During 2009, 1.7 million shares of common stock were issued for net proceeds of $51.9 million. As of December 31, 2010, approximately 3.1 million shares of common stock remain available for issuance pursuant to the amended distribution agreement. The shares issued in 2010 and 2009 were offered for sale, from time to time, in accordance with the terms of the amended distribution agreem ent pursuant to Registration Statement No. 333-147965. The remaining shares may be offered for sale, from time to time, in accordance with the terms of the amended distribution agreement pursuant to Registration Statement No. 333-170289.

Authorized Common Stock. On May 12, 2009, shareholders approved an amendment to the Company’s Amended and Restated Articles of Incorporation to increase the number of authorized shares of common stock from 43.3 million to 80.0 million.

Earnings Per Share. The difference between basic and diluted earnings per share arises, if any, from outstanding stock options, non-vested restricted stock, and performance share awards granted under our Executive and Director Long-Term Incentive Compensation Plans. In accordance with accounting standards for earnings per share, for 2010, 0.5 million options to purchase shares of common stock were excluded from the computation of diluted earnings per share because the option exercise prices were greater than the average market prices, and therefore, their effect would be anti-dilutive (0.6 million shares were excluded for 2009 and 0.6 million in 2008).

ALLETE 2010 Form 10-K
76 
 

 

Note 11.
Common Stock and Earnings Per Share (Continued)

Reconciliation of Basic and Diluted
     
Earnings Per Share
 
Dilutive
 
Year Ended December 31
Basic
Securities
Diluted
Millions Except Per Share Amounts
     
       
2010
     
Net Income Attributable to ALLETE
$75.3
$75.3
Common Shares
34.2
0.1
34.3
Per Share of Common Stock
$2.20
$2.19
       
2009
     
Net Income Attributable to ALLETE
$61.0
$61.0
Common Shares
32.2
32.2
Per Share of Common Stock
$1.89
$1.89
       
2008
     
Net Income Attributable to ALLETE
$82.5
$82.5
Common Shares
29.2
0.1
29.3
Per Share of Common Stock
$2.82
$2.82


Note 12.
Other Income (Expense)

Year Ended December 31
2010
2009
2008
Millions
     
AFUDC - Equity
$4.2
$5.8
$3.3
Investments and Other Income (a)
0.4
(4.0)
12.3
Total Other Income
$4.6
$1.8
$15.6

(a)
In 2008, Investment and Other Income included a gain from the sale of certain available-for-sale securities. The gain was triggered when securities were sold to reallocate investments to meet defined investment allocations based upon an approved investment strategy.


Note 13.
Income Tax Expense

On March 23, 2010, the Patient Protection and Affordable Care Act, which was subsequently amended on March 30, 2010, was signed into law by the President. The law includes provisions to generate tax revenue to help offset the cost of the new legislation. One of the provisions changes the tax treatment for retiree prescription drug expenses by eliminating the tax deduction for expenses that are reimbursed under Medicare Part D, beginning January 1, 2013. Based on this provision, we are subject to additional taxes in the future and were required to reverse previously recorded tax benefits in the period of enactment. Consequently, the elimination of the previously recorded tax benefit resulted in a non-recurring charge to net income of $4.0 million in 2010. On October 8, 2010, we submitted a filing with the MPUC to request deferral o f the retail portion of Medicare Part D of this legislation. As we are unable to predict the outcome at this time, we have not deferred any portion of this amount as a regulatory asset.

ALLETE 2010 Form 10-K
77 
 

 

Note 13.
Income Tax Expense (Continued)

Income Tax Expense
     
Year Ended December 31
2010
2009
2008
Millions
     
Current Tax Expense (Benefit)
     
Federal (a)
$(23.0)
$(42.6)
$6.2
State
1.3
(1.8)
(1.6)
Total Current Tax Expense (Benefit)
(21.7)
(44.4)
4.6
Deferred Tax Expense
     
Federal (b)
61.4
66.0
29.3
State
5.3
10.3
13.4
Change in Valuation Allowance
0.2
(0.1)
(2.9)
Investment Tax Credit Amortization
(0.9)
(1.0)
(1.0)
Total Deferred Tax Expense
66.0
75.2
38.8
Total Income Tax Expense
$44.3
$30.8
$43.4

(a)
The 2010 federal current tax benefit is primarily due to the implementation of tax planning initiatives and bonus depreciation provisions in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 and the Small Business Jobs Act of 2010. The 2009 federal current tax benefit is primarily due to bonus depreciation provisions of the American Recovery and Reinvestment Act of 2009.
(b)
The 2010 federal deferred tax expense is primarily due to tax planning initiatives and bonus depreciation provisions of the Small Business Jobs Act of 2010 and the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. Also included in 2010 is a one-time charge of $4.0 million as a result of the Patient Protection and Affordable Care Act. The 2009 federal deferred tax expense is primarily due to bonus depreciation provisions of the American Recovery and Reinvestment Act of 2009.

Reconciliation of Taxes from Federal Statutory
     
Rate to Total Income Tax Expense
     
Year Ended December 31
2010
2009
2008
Millions
     
Income Before Non-Controlling Interest and Income Taxes
$119.1
$91.5
$126.4
Statutory Federal Income Tax Rate
35%
35%
35%
Income Taxes Computed at 35 percent Statutory Federal Rate
$41.7
$32.0
$44.2
Increase (Decrease) in Tax Due to:
     
State Income Taxes – Net of Federal Income Tax Benefit
4.5
5.4
4.8
Impact of Patient Protection and Affordable Care Act
4.0
Regulatory Differences for Utility Plant
(2.0)
(2.5)
(1.6)
Production Tax Credit
(1.6)
(1.2)
(0.4)
Other
(2.3)
(2.9)
(3.6)
Total Income Tax Expense
$44.3
$30.8
$43.4

The effective tax rate on income was 37.2 percent for 2010 (33.7 percent for 2009; 34.3 percent for 2008).

ALLETE 2010 Form 10-K
78 
 

 

Note 13.
Income Tax Expense (Continued)

Deferred Tax Assets and Liabilities
   
As of December 31
2010
2009
Millions
   
Deferred Tax Assets
   
Employee Benefits and Compensation (a)
$121.8
$118.2
Property Related
51.1
46.5
NOL and Tax Credit Carryforward
28.2
Investment Tax Credits
9.7
10.0
Other
12.7
14.4
Gross Deferred Tax Assets
223.5
189.1
Deferred Tax Asset Valuation Allowance
(0.5)
(0.3)
Total Deferred Tax Assets
$223.0
$188.8
Deferred Tax Liabilities
   
Property Related
$387.2
$294.1
Regulatory Asset for Benefit Obligations
105.8
96.5
Unamortized Investment Tax Credits
13.7
14.1
Partnership Basis Differences
19.4
14.6
Other
27.3
28.2
Total Deferred Tax Liabilities
$553.4
$447.5
Net Deferred Income Taxes
$330.4
$258.7
     
Recorded as:
   
Net Current Deferred Tax Liabilities (b)
$5.2
$5.6
Net Long-Term Deferred Tax Liabilities
325.2
253.1
Net Deferred Income Taxes
$330.4
$258.7

(a)  
Includes unfunded employee benefits
(b)  
Included in Other Current Liabilities.

NOL and Tax Credit Carryforwards
   
Year Ended December 31
2010
2009
Millions
   
Federal NOL carryforward (a)
$62.0
$7.3
Federal tax credit carryforwards
3.7
1.9
State NOL carryforward (a)
71.7
59.6
State tax credit carryforwards, net of federal detriment
1.7
0.1

(a)
Pretax amounts

In 2010 we had federal and state NOLs and tax credit carryforwards primarily due to bonus depreciation provisions in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 and the Small Business Jobs Act of 2010. The 2010 federal NOL will be partially utilized by carrying it back against prior years’ income with the remainder carried forward to offset future years’ income. We expect to fully utilize the federal NOL and tax credit carryforwards; therefore a deferred tax asset has been recorded to recognize the resulting tax benefit. The state NOL and tax credits will be carried forward to future tax years. We have established a valuation allowance against certain state NOL and tax credits that we do not expect to utilize before their expiration. The 2009 federal and state NOL were primarily due t o bonus depreciation provisions in the American Recovery and Reinvestment Act of 2009. The federal and state carryforward periods expire between 2014 and 2030.

Gross Unrecognized Income Tax Benefits
2010
2009
2008
Millions
     
Balance at January 1
$9.5
$8.0
$5.3
Additions for Tax Positions Related to the Current Year
0.5
0.7
Reductions for Tax Positions Related to the Current Year
(0.2)
Additions for Tax Positions Related to Prior Years
4.4
1.0
4.5
Reduction for Tax Positions Related to Prior Years
(2.5)
Settlements
(0.3)
Lapse of Statute
(1.1)
Balance as of December 31
$12.3
$9.5
$8.0


ALLETE 2010 Form 10-K
79 
 

 

Note 13.
Income Tax Expense (Continued)

The gross unrecognized tax benefits as of December 31, 2010, includes $0.6 million of net unrecognized tax benefits that, if recognized, would affect the annual effective income tax rate.

As of December 31, 2010, we had $0.7 million ($0.9 million for 2009 and $0.6 million for 2008) of accrued interest related to unrecognized tax benefits included in the consolidated balance sheet. We classify interest related to unrecognized tax benefits as interest expense and tax-related penalties in operating expenses in the consolidated statement of income. In 2010, we recognized a $0.2 million reduction of interest expense (interest expense of $0.4 million for 2009 and $0.4 million for 2008). There were no penalties recognized for 2010, 2009 or 2008.

We file a consolidated federal income tax return in the United States and state income tax returns in various jurisdictions. ALLETE is currently under examination by the IRS for the tax years 2005 through 2009. ALLETE is no longer subject to federal or state examination for years before 2005.

During the next 12 months it is reasonably possible the amount of unrecognized tax benefits could be reduced by $4.0 million due to statute expirations and anticipated audit settlements. This amount is primarily due to timing issues.


Note 14.
Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)
     
Year Ended December 31
2010
2009
2008
Millions
     
Net Income
$74.8
$60.7
$83.0
Other Comprehensive Income
     
    Unrealized Gain on Securities
   Net of income taxes of $0.6, $1.7, and $(3.7)
0.8
2.8
(6.0)
    Reclassification Adjustment for Losses Included in Income
      Net of income taxes of $–, $–, and $(2.7)
(3.7)
    Defined Benefit Pension and Other Postretirement Plans
   Net of income taxes of $–, $4.1, and $(13.3)
6.2
(18.8)
Total Other Comprehensive Income (Loss)
0.8
9.0
(28.5)
Total Comprehensive Income
$75.6
$69.7
$54.5
Less: Non-Controlling Interest in Subsidiaries
(0.5)
(0.3)
0.5
Comprehensive Income Attributable to ALLETE
$76.1
$70.0
$54.0


Accumulated Other Comprehensive Income (Loss)
   
As of December 31
2010
2009
Millions
   
Unrealized Loss on Securities
$(1.0)
$(1.8)
Defined Benefit Pension and Other Postretirement Plans
(22.2)
(22.2)
Total Accumulated Other Comprehensive Loss
$(23.2)
$(24.0)


Note 15.
Pension and Other Postretirement Benefit Plans

We have noncontributory union and non-union defined benefit pension plans covering eligible employees. The plans provide defined benefits based on years of service and final average pay. In 2010, we made total contributions of $26.5 million ($32.9 million in 2009 of which $12.0 million was contributed in shares of ALLETE common stock). We also have defined contribution pension plans covering substantially all employees. The 2010 plan year employer contributions, which are made through our employee stock ownership plan, totaled $7.2 million ($7.1 million for the 2009 plan year.) (See Note 11. Common Stock and Earnings Per Share and Note 16. Employee Stock and Incentive Plans)

In 2006, amendments were made to the non-union defined benefit pension plan and the RSOP. The non-union defined benefit pension plan was amended to suspend further crediting of service to the plan and closed the plan to new participants. In conjunction with the change, contributions were increased to the RSOP. In 2010, the Minnesota Power unions defined benefit pension plan was amended to close the plan to new participants.


ALLETE 2010 Form 10-K
80 
 

 

Note 15.
Pension and Other Postretirement Benefit Plans (Continued)

We have postretirement health care and life insurance plans covering eligible employees. In 2010, our postretirement health plan was amended to close the plan to employees hired after January 31, 2011. The full eligibility requirement was also amended in 2010, to age 55 with 10 years of service. The postretirement health plans are contributory with participant contributions adjusted annually. Postretirement health and life benefits are funded through a combination of Voluntary Employee Benefit Association trusts (VEBAs), established under section 501(c)(9) of the Internal Revenue Code, and irrevocable grantor trusts. In 2010 $12.8 million was contributed to the VEBAs. In 2009 we contributed $9.3 million to the VEBAs and $0.3 million to the grantor trust.

Management considers various factors when making funding decisions such as regulatory requirements, actuarially determined minimum contribution requirements, and contributions required to avoid benefit restrictions for the pension plans. Estimated defined benefit pension and postretirement health and life contributions for 2011 are expected to be $7.8 million and $12.9 million, respectively. Contributions are based on estimates and assumptions that are subject to change.

Accounting for Defined Benefit Pension and Postretirement Benefit Plans requires that employers recognize on a prospective basis the funded status of their defined benefit pension and other postretirement plans on their consolidated balance sheet and recognize as a component of other comprehensive income, net of tax, the gains or losses and prior service costs or credits that arise during the period but that are not recognized as components of net periodic benefit cost.

The defined benefit pension and postretirement health and life benefit costs recognized annually by our regulated companies are expected to be recovered through rates filed with our regulatory jurisdictions. As a result, these amounts that are required to otherwise be recognized in accumulated other comprehensive income have been recognized as a long-term regulatory asset on our consolidated balance sheet, in accordance with the accounting standards for Regulated Operations. The defined benefit pension and postretirement health and life benefit costs associated with our other non-rate base operations are recognized in accumulated other comprehensive income.

Pension Obligation and Funded Status
Year Ended December 31
2010
2009
Millions
   
Accumulated Benefit Obligation
$485.6
$435.9
     
Change in Benefit Obligation
   
Obligation, Beginning of Year
$465.2
$440.4
Service Cost
6.2
5.7
Interest Cost
26.2
26.2
Actuarial Loss
47.1
14.6
Benefits Paid
(27.2)
(25.5)
Participant Contributions
8.1
3.9
Obligation, End of Year
$525.6
$465.3
Change in Plan Assets
   
Fair Value, Beginning of Year
$327.6
$273.7
Actual Return on Plan Assets
45.6
41.6
Employer Contribution
36.0
37.8
Benefits Paid
(27.2)
(25.5)
Fair Value, End of Year
$382.0
$327.6
Funded Status, End of Year
$(143.6)
$(137.7)
     
Net Pension Amounts Recognized in Consolidated Balance Sheet Consist of:
   
Current Liabilities
$(0.9)
$(0.9)
Noncurrent Liabilities
$(142.8)
$(136.8)


ALLETE 2010 Form 10-K
81 
 

 

Note 15.
Pension and Other Postretirement Benefit Plans (Continued)

The pension costs that are reported as a component within our consolidated balance sheet, reflected in regulatory long-term assets and accumulated other comprehensive income, consist of the following:

Unrecognized Pension Costs
Year Ended December 31
2010
2009
Millions
   
Net Loss
$225.1
$196.5
Prior Service Cost
1.4
1.8
Total Unrecognized Pension Costs
$226.5
$198.3


Components of Net Periodic Pension Expense
Year Ended December 31
2010
2009
2008
Millions
     
Service Cost
$6.2
$5.7
$5.8
Interest Cost
26.2
26.2
25.4
Expected Return on Plan Assets
(33.7)
(33.8)
(32.5)
Amortization of Loss
6.6
3.4
1.6
Amortization of Prior Service Costs
0.5
0.6
0.6
Net Pension Expense
$5.8
$2.1
$0.9


Other Changes in Pension Plan Assets and Benefit Obligations Recognized in
Other Comprehensive Income and Regulatory Assets
Year Ended December 31
2010
2009
Millions
   
Net Loss
$35.2
$6.8
Amortization of Prior Service Costs
(0.5)
(0.6)
Amortization of Gain
(6.6)
(3.4)
Total Recognized in Other Comprehensive Income and Regulatory Assets
$28.1
$2.8


Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets
Year Ended December 31
2010
2009
Millions
   
Projected Benefit Obligation
$525.6
$465.3
Accumulated Benefit Obligation
$485.6
$435.9
Fair Value of Plan Assets
$382.0
$327.6


ALLETE 2010 Form 10-K
82 
 

 

Note 15.
Pension and Other Postretirement Benefit Plans (Continued)


Postretirement Health and Life Obligation and Funded Status
Year Ended December 31
2010
2009
Millions
   
Change in Benefit Obligation
   
Obligation, Beginning of Year
$192.1
$166.9
Service Cost
4.8
4.1
Interest Cost
10.9
10.0
Actuarial Loss
17.6
18.4
Participant Contributions
2.1
1.7
Plan Amendments
(14.2)
(1.3)
Benefits Paid
(9.2)
(7.7)
Obligation, End of Year
$204.1
$192.1
Change in Plan Assets
   
Fair Value, Beginning of Year
$96.4
$78.6
Actual Return on Plan Assets
12.0
13.9
Employer Contribution
13.4
9.9
Participant Contributions
2.0
1.6
Benefits Paid
(9.1)
(7.6)
Fair Value, End of Year
$114.7
$96.4
Funded Status, End of Year
$(89.4)
$(95.7)
     
Net Postretirement Health and Life Amounts Recognized in Consolidated Balance Sheet Consist of:
   
Current Liabilities
$(0.8)
$(0.8)
Noncurrent Liabilities
$(88.6)
$(94.8)

According to the accounting standards for Retirement Benefits only assets in the VEBAs are treated as plan assets in the above table for the purpose of determining funded status. In addition to the postretirement health and life assets reported in the previous table, we had $19.8 million in irrevocable grantor trusts included in Other Investments on our consolidated balance sheet at December 31, 2010 ($18.2 million at December 31, 2009).

The postretirement health and life costs that are reported as a component within our consolidated balance sheet, reflected in regulatory long-term assets and accumulated other comprehensive income, consist of the following:

Unrecognized Postretirement Health and Life Costs
Year Ended December 31
2010
2009
Millions
   
Net Loss
$80.1
$69.6
Prior Service Cost
(11.2)
(1.3)
Transition Obligation
0.2
6.9
Total Unrecognized Postretirement Health and Life Costs
$69.1
$75.2


Components of Net Periodic Postretirement Health and Life Expense
Year Ended December 31
2010
2009
2008
Millions
     
Service Cost
$4.8
$4.1
$4.0
Interest Cost
10.9
10.0
9.4
Expected Return on Plan Assets
(9.5)
(8.3)
(7.2)
Amortization of Prior Service Cost
(0.1)
Amortization of Loss
4.8
2.5
1.4
Amortization of Transition Obligation
2.5
2.5
2.5
Net Postretirement Health and Life Expense
$13.4
$10.8
$10.1


ALLETE 2010 Form 10-K
83 
 

 

Note 15.
Pension and Other Postretirement Benefit Plans (Continued)

Other Changes in Postretirement Benefit Plan Assets and Benefit Obligations
Recognized in Other Comprehensive Income and Regulatory Assets
Year Ended December 31
2010
2009
Millions
   
Net Loss
$15.3
$12.9
Prior Service Cost (Credit) Arising During the Period
(14.2)
(1.3)
Amortization of Prior Service Cost
0.1
Amortization of Transition Obligation
(2.5)
(2.5)
Amortization of Loss
(4.8)
(2.5)
Total Recognized in Other Comprehensive Income and Regulatory Assets
$(6.1)
$6.6


Estimated Future Benefit Payments
   
Postretirement
 
Pension
Health and Life
Millions
   
2011
$27.5
$8.5
2012
$28.4
$9.5
2013
$29.4
$10.5
2014
$30.6
$11.6
2015
$31.8
$12.7
Years 2016 – 2020
$174.6
$73.3

The pension and postretirement health and life costs recorded in other long-term assets and accumulated other comprehensive income expected to be recognized as a component of net pension and postretirement benefit costs for the year ending December 31, 2011, are as follows:

   
Postretirement
 
Pension
Health and Life
Millions
   
Net Loss
$0.3
$8.5
Prior Service Costs
$12.1
$(1.7)
Transition Obligations
$0.1
Total Pension and Postretirement Health and Life Costs
$12.4
$6.9


Weighted-Average Assumptions Used to Determine Benefit Obligation
Year Ended December 31
2010
2009
Discount Rate
   
Pension
5.36%
5.81%
Postretirement Health and Life
5.40%
5.81%
Rate of Compensation Increase
4.3 – 4.6%
4.3 – 4.6%
Health Care Trend Rates
   
Trend Rate
10%
8.5%
Ultimate Trend Rate
5%
5%
Year Ultimate Trend Rate Effective
2018
2017


Weighted-Average Assumptions Used to Determine Net Periodic Benefit Costs
Year Ended December 31
2010
2009
2008
Discount Rate
5.81%
6.12%
6.25%
Expected Long-Term Return on Plan Assets
     
Pension
8.5%
8.5%
9.0%
Postretirement Health and Life
6.8 – 8.5%
6.8 – 8.5%
7.2 – 9.0%
Rate of Compensation Increase
4.3 – 4.6%
4.3 – 4.6%
4.3 – 4.6%


ALLETE 2010 Form 10-K
84 
 

 

Note 15.
Pension and Other Postretirement Benefit Plans (Continued)

In establishing the expected long-term return on plan assets, we take into account the actual long-term historical performance of our plan assets, the actual long-term historical performance for the type of securities we are invested in, and apply the historical performance utilizing the target allocation of our plan assets to forecast an expected long-term return. Our expected rate of return is then selected after considering the results of each of those factors, in addition to considering the impact of current economic conditions, if applicable, on long-term historical returns.

The discount rate is computed using a yield curve adjusted for ALLETE’s projected cash flows to match our plan characteristics. The yield curve is determined using high-quality long-term corporate bond rates at the valuation date. We believe the adjusted discount curve used in this comparison does not materially differ in duration and cash flows from our pension obligation.

Sensitivity of a One-Percentage-Point Change in Health Care Trend Rates
 
One Percent
One Percent
 
Increase
Decrease
Millions
   
Effect on Total of Postretirement Health and Life Service and Interest Cost
$2.5
$(2.0)
Effect on Postretirement Health and Life Obligation
$23.1
$(19.2)


Actual Plan Asset Allocations
 
Pension
Postretirement
Health and Life (a)
 
2010
2009
2010
2009
Equity Securities
52%
53%
58%
54%
Debt Securities
29%
28%
33%
38%
Real Estate
5%
5%
Private Equity
14%
14%
9%
8%
 
100%
100%
100%
100%

(a)
Includes VEBAs and irrevocable grantor trusts.

Pension plan equity securities did not include any ALLETE common stock at December 31, 2010. At December 31, 2009, $9.9 million, or 3.0 percent, of ALLETE common stock was included.

To achieve strong returns within managed risk, we diversify our asset portfolio to approximate the target allocations in the table below. Equity securities are diversified among domestic companies with large, mid and small market capitalizations, as well as investments in international companies. The majority of debt securities are made up of investment grade bonds.

Plan Asset Target Allocations
   
Postretirement
 
Pension
Health and Life (a)
Equity Securities
50%
48%
Debt Securities
30%
34%
Real Estate
10%
9%
Private Equity
10%
9%
 
100%
100%

(a)
Includes VEBAs and irrevocable grantor trusts.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We utilize market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. We primarily apply the market approach for recurring fair value measurements and endeavor to utilize the best available information. Accordingly, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs, which are used to measure fair value, are prioritized through the fair value hierarch y. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:

Level 1 — Quoted prices are available in active markets for identical assets as of the reported date. Active markets are those in which transactions for the asset occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

ALLETE 2010 Form 10-K
85 
 

 

 
Note 15.
Pension and Other Postretirement Benefit Plans (Continued)
 

Level 2 — Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reported date. The types of assets included in Level 2 are typically either comparable to actively traded securities or contracts, such as treasury securities with pricing interpolated from recent trades of similar securities, or priced with models using highly observable inputs, such as commodity options priced using observable forward prices and volatilities.

Level 3 — Significant inputs that are generally less observable from objective sources. The types of assets included in Level 3 are those with inputs requiring significant management judgment or estimation, such as the complex and subjective models and forecasts used to determine the fair value.

Pension Fair Value

 
At Fair Value as of December 31, 2010
Recurring Fair Value Measures
Level 1
Level 2
Level 3
Total
Millions
       
Assets:
       
Equity Securities
       
     U.S. Large-cap (a)
$30.4
$29.9
$3.5
$63.8
     U.S. Mid-cap Growth (a)
14.0
13.7
1.6
29.3
     U.S. Small-cap (a)
13.7
13.5
1.6
28.8
     International
77.1
77.1
Debt Securities:
       
     Mutual Funds
46.5
 
46.5
     Fixed Income
65.7
65.7
Other Types of Investments:
       
     Private Equity Funds
50.7
50.7
Real Estate
20.1
20.1
Total Fair Value of Assets
$104.6
$199.9
$77.5
$382.0

 
Equity Securities
   
Activity in Level 3
(Auction Rate Securities)
Private Equity Funds
Real Estate
Millions
     
Balance as of December 31, 2009
$9.1
$44.7
$17.3
Actual Return on Plan Assets
(4.1)
(6.1)
Purchases, sales, and settlements, net
(2.4)
10.1
8.9
Balance as of December 31, 2010
$6.7
$50.7
$20.1


 
At Fair Value as of December 31, 2009
Recurring Fair Value Measures
Level 1
Level 2
Level 3
Total
Millions
       
Assets:
       
Equity Securities
       
     U.S. Large-cap (a)
$23.2
$27.5
$5.2
$55.9
     U.S. Mid-cap Growth (a)
8.9
10.6
2.0
21.5
     U.S. Small-cap (a)
8.6
10.1
1.9
20.6
     International
66.4
66.4
     ALLETE
9.9
9.9
Debt Securities:
       
     Mutual Funds
32.0
32.0
     Fixed Income
59.3
59.3
Other Types of Investments:
       
     Private Equity Funds
44.7
44.7
Real Estate
17.3
17.3
Total Fair Value of Assets
$82.6
$173.9
$71.1
$327.6

(a)
The underlying investments classified under U.S. Equity Securities consist of Money Market Funds and U.S. Government Bonds (Level 1), Hedge Funds (Level 2), and Auction Rate Securities (Level 3), which are combined with futures, which settle daily, in a portable alpha program to achieve the returns of the U.S. Equity Securities Large-cap, Mid-cap Growth, and Small-cap funds. Our exposure with respect to these investments includes both the futures and the underlying investments.
 
ALLETE 2010 Form 10-K
86 
 

 

Note 15.
Pension and Other Postretirement Benefit Plans (Continued)

Recurring Fair Value Measures
Equity Securities
   
Activity in Level 3
(Auction Rate Securities)
Private Equity Funds
Real Estate
Millions
     
Balance as of December 31, 2008
$10.2
$43.2
$17.0
Actual Return on Plan Assets
0.1
(8.7)
(8.6)
Purchases, sales, and settlements, net
(1.1)
10.2
8.9
Balance as of December 31, 2009
$9.1
$44.7
$17.3


Postretirement Health and Life Fair Value

 
At Fair Value as of December 31, 2010
Recurring Fair Value Measures
Level 1
Level 2
Level 3
Total
Millions
       
Assets:
       
Equity Securities
       
     U.S. Large-cap
$15.7
$15.7
     U.S. Mid-cap Growth
11.4
11.4
     U.S. Small-cap
11.5
11.5
     International
26.8
26.8
Debt Securities:
       
     Mutual Funds
9.0
9.0
     Fixed Income
$27.9
27.9
Other Types of Investments:
       
     Private Equity Funds
$12.4
12.4
Total Fair Value of Assets
$74.4
$27.9
$12.4
$114.7

Activity in Level 3
Private Equity Funds
Millions
 
Balance as of December 31, 2009
$9.4
Actual Return on Plan Assets
1.4
Purchases, sales, and settlements, net
1.6
Balance as of December 31, 2010
$12.4


 
At Fair Value as of December 31, 2009
Recurring Fair Value Measures
Level 1
Level 2
Level 3
Total
Millions
       
Assets:
       
Equity Securities
       
     U.S. Large-cap
$13.4
$13.4
     U.S. Mid-cap Growth
9.0
9.0
     U.S. Small-cap
6.3
6.3
     International
21.4
21.4
Debt Securities:
       
     Mutual Funds
5.5
5.5
     Fixed Income
$31.4
31.4
Other Types of Investments:
       
     Private Equity Funds
$9.4
9.4
Total Fair Value of Assets
$55.6
$31.4
$9.4
$96.4

Activity in Level 3
Private Equity Funds
Millions
 
Balance as of December 31, 2008
$7.9
Actual Return on Plan Assets
(1.1)
Purchases, sales, and settlements, net
2.6
Balance as of December 31, 2009
$9.4


ALLETE 2010 Form 10-K
87
 

 

Note 15.
Pension and Other Postretirement Benefit Plans (Continued)

Accounting and disclosure requirements for the Medicare Prescription Drug, Improvement and Modernization Act of 2003 (Act) provides guidance for employers that sponsor postretirement health care plans that provide prescription drug benefits. We provide postretirement health benefits that include prescription drug benefits, which qualify us for the federal subsidy under the Act.


Note 16.
Employee Stock and Incentive Plans

Employee Stock Ownership Plan. We sponsor a leveraged ESOP within the RSOP. As of their date of hire, eligible employees may to contribute to the RSOP plan. In 1990, the ESOP issued a $75 million note (term not to exceed 25 years at 10.25 percent) to us as consideration for 2.8 million shares (1.9 million shares adjusted for stock splits) of our newly issued common stock. The note was refinanced in 2006 at 6 percent. We make annual contributions to the ESOP equal to the ESOP’s debt service less available dividends received by the ESOP. The majority of dividends received by the ESOP are used to pay debt service, with the balance distributed to participants. The ESOP shares were initially pledged as collateral for its debt. As the debt is repaid, shares are released from colla teral and allocated to participants based on the proportion of debt service paid in the year. As shares are released from collateral, we report compensation expense equal to the current market price of the shares less dividends on allocated shares. Dividends on allocated ESOP shares are recorded as a reduction of retained earnings; available dividends on unallocated ESOP shares are recorded as a reduction of debt and accrued interest. ESOP compensation expense was $7.1 million in 2010 ($6.5 million in 2009; $10.1 million in 2008).

According to the accounting standards for stock compensation, unallocated ALLETE common stock currently held and purchased by the ESOP will be treated as unearned ESOP shares and not considered as outstanding for earnings per share computations. ESOP shares are included in earnings per share computations after they are allocated to participants.

Year Ended December 31
2010
2009
2008
Millions
     
ESOP Shares
     
Allocated
2.2
2.2
2.0
Unallocated
1.3
1.5
1.9
Total
3.5
3.7
3.9
Fair Value of Unallocated Shares
$48.4
$49.0
$61.3


Stock-Based Compensation. Stock Incentive Plan. Under our Executive Long-Term Incentive Compensation Plan (Executive Plan), share-based awards may be issued to key employees through a broad range of methods, including non-qualified and incentive stock options, performance shares, performance units, restricted stock, stock appreciation rights and other awards. There are 1.4 million shares of common stock reserved for issuance under the Executive Plan, with 0.7 million of these shares available for issuance as of December 31, 2010.

We had a Director Long-Term Stock Incentive Plan (Director Plan) which expired on January 1, 2006. No grants have been made since 2003 under the Director Plan. Approximately 2,586 options were outstanding under the Director Plan at December 31, 2010.

We currently have the following types of share-based awards outstanding:

Non-Qualified Stock Options. The options allow for the purchase of shares of common stock at a price equal to the market value of our common stock at the date of grant. Options become exercisable beginning one year after the grant date, with one-third vesting each year over three years. Options may be exercised up to ten years following the date of grant. In the case of qualified retirement, death or disability, options vest immediately and the period over which the options can be exercised is three years. Employees have up to three months to exercise vested options upon voluntary termination or involuntary termination without cause. All options are cancelled upon termination for cause. All options vest immediately upon retirement, death, disability or a change of control, as de fined in the award agreement. We determine the fair value of options using the Black-Scholes option-pricing model. The estimated fair value of options, including the effect of estimated forfeitures, is recognized as expense on the straight-line basis over the options’ vesting periods, or the accelerated vesting period if the employee is retirement eligible.

No stock options were granted under our Executive Long-Term Incentive Compensation Plan in 2009 or 2010. The following assumptions were used in determining the fair value of stock options granted during 2008, under the Black-Scholes option-pricing model:

ALLETE 2010 Form 10-K
88 
 

 

Note 16.
Employee Stock and Incentive Plans (Continued)

 
2008
Risk-Free Interest Rate
2.8%
Expected Life
 5 Years
Expected Volatility
20%
Dividend Growth Rate
4.4%

The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the grant date. Expected volatility is estimated based on the historic volatility of our stock and the stock of our peer group companies. We utilize historical option exercise and employee pre-vesting termination data to estimate the option life. The dividend growth rate is based upon historical growth rates in our dividends.

Performance Shares. Under the performance share awards plan, the number of shares earned is contingent upon attaining specific market goals over a three-year performance period. Market goals are measured by total shareholder return relative to a group of peer companies. In the case of qualified retirement, death or disability during a performance period, a pro-rata portion of the award will be earned at the conclusion of the performance period based on the market goals achieved. In the case of termination of employment for any reason other than qualified retirement, death or disability, no award will be earned. If there is a change in control, a pro-rata portion of the award will be paid based on the greater of actual performance up to the date of the change in control or target performance. The fair value of these awards is determined by the probability of meeting the total shareholder return goals. Compensation cost is recognized over the three-year performance period based on our estimate of the number of shares which will be earned by the award recipients.

Restricted Stock Units. Under the restricted stock units plan, shares vest monthly over a three year period. In the case of qualified retirement, death or disability, a pro-rata portion of the award will be earned. In the case of termination of employment for any other reason other than qualified retirement, death or disability, no award will be earned. If there is a change in control, a pro-rata portion of the award will be paid. The fair value of these awards is equal to the grant date fair value. Compensation cost is recognized over the three-year vesting period based on our estimate of the number of shares which will be earned by the award recipients.

Employee Stock Purchase Plan (ESPP). Under our ESPP, eligible employees may purchase ALLETE common stock at a 5 percent discount from the market price. Because the discount is not greater than 5 percent, we are not required to apply fair value accounting to these awards.

RSOP. The RSOP is a contributory defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended, and qualifies as an employee stock ownership plan and profit sharing plan. The RSOP provides eligible employees an opportunity to save for retirement.

The following share-based compensation expense amounts were recognized in our consolidated statement of income for the periods presented.

Share-Based Compensation Expense
Year Ended December 31
2010
2009
2008
Millions
     
Stock Options
$0.1
$0.3
$0.7
Performance Shares
1.5
1.5
1.1
Restricted Stock Units
0.6
0.3
Total Share-Based Compensation Expense
$2.2
$2.1
$1.8
Income Tax Benefit
$0.9
$0.8
$0.7

There were no capitalized stock-based compensation costs at December 31, 2010, 2009, or 2008.

As of December 31, 2010, the total unrecognized compensation cost for the performance share awards and restricted stock units not yet recognized in our consolidated statements of income was $1.5 million and $0.7 million, respectively. These amounts are expected to be recognized over a weighted-average period of 1.6 years for both performance share awards and restricted stock units.


ALLETE 2010 Form 10-K
89 
 

 

Note 16.
Employee Stock and Incentive Plans (Continued)

Non-Qualified Stock Options. The following table presents information regarding our outstanding stock options as of December 31, 2010.

 
2010
2009
2008
   
Weighted-Average
 
Weighted-Average
 
Weighted-Average
 
Number of
Exercise
Number of
Exercise
Number of
Exercise
 
Options
Price
Options
Price
Options
Price
             
Outstanding as of January 1,
646,235
$40.05
672,419
$39.99
510,992
$39.83
Granted (a)
180,815
$39.10
Exercised
40,769
$27.76
4,508
$18.85
16,627
$25.56
Forfeited
44,579
$43.16
21,676
$42.62
2,761
$39.39
Outstanding as of December 31,
560,887
$40.69
646,235
$40.05
672,419
$39.99
Exercisable as of December 31,
523,491
$39.76
512,743
$37.34
406,894
$34.48

(a)
Stock options have not been granted since 2008.

Cash received from non-qualified stock options exercised was $1.1 million in 2010. The weighted-average grant-date intrinsic value of options granted in 2008 was $6.18 for 2008 (none in 2010 or 2009). The intrinsic value of a stock award is the amount by which the fair value of the underlying stock exceeds the exercise price of the award. The total intrinsic value of options exercised was $0.3 million during 2010 ($0.1 million in 2009; $0.2 million in 2008).

 
Range of Exercise Price
As of December 31, 2010
$18.85 to $29.79
$37.76 to $41.35
$44.15 to $48.65
Options Outstanding and Exercisable:
     
Number Outstanding and Exercisable
44,738
296,770
181,983
Weighted Average Remaining Contractual Life (Years)
1.5
5.4
5.5
Weighted Average Exercise Price
$26.96
$39.44
$46.37


Performance Shares. The following table presents information regarding our non-vested performance shares as of December 31, 2010.

 
2010
2009
2008
   
Weighted-
 
Weighted-
 
Weighted-
   
Average
 
Average
 
Average
 
Number of
Grant Date
Number of
Grant Date
Number of
Grant Date
 
Shares
Fair Value
Shares
Fair Value
Shares
Fair Value
Non-vested as of January 1,
121,825
$41.96
79,238
$47.94
68,501
$45.63
Granted
49,302
$35.44
69,800
$35.06
36,684
$54.05
Unearned Grant Award
(22,909)
$54.50
(24,615)
$41.97
(23,624)
$42.80
Forfeited
(25,729)
$36.45
(2,598)
$38.78
(2,323)
$50.87
Non-vested as of December 31,
122,489
$38.15
121,825
$41.96
79,238
$47.94

Less than 0.1 million performance share were granted in February 2010 for the performance period ending in 2012. The ultimate issuance is contingent upon the attainment of certain future market goals of ALLETE during the performance periods. The grant date fair value of the performance share awards was $1.2 million.

No performance shares were awarded in February 2010 for the three year performance period ending in 2009, as performance targets were not met. However, in accordance with the accounting standards for stock compensation, no compensation expense previously recognized in connection with those grants will be reversed.

Less than 0.1 million performance shares were awarded in February 2011 for the three year performance period ending in 2010. The grant date fair value of the shares awarded was $1.6 million.


ALLETE 2010 Form 10-K
90 
 

 

Note 16.
Employee Stock and Incentive Plans (Continued)

Restricted Stock Units. The following table presents information regarding our available restricted stock units as of December 31, 2010.

 
2010
2009
   
Weighted- Average
 
Weighted- Average
 
Number of
Grant Date
Number of
Grant Date
 
Shares
Fair Value
Shares
Fair Value
Available as of January 1,
28,983
$29.41
Granted
26,589
$31.83
30,465
$29.41
Awarded
(3,091)
$29.75
Forfeited
(8,678)
$30.62
(1,482)
$29.41
Available as of December 31,
43,803
$30.61
28,983
$29.41

Less than 0.1 million restricted stock units were granted in February 2010 for the vesting period ending in 2012. The grant date fair value of the restricted stock unit awards was $0.7 million.

Less than 0.05 million restricted stock units were awarded in 2010. The grant date fair value of the shares awarded was $0.1 million.


Note 17.
Derivatives

Occasionally we enter into financial derivative instruments to manage price risk for certain power marketing contracts. Changes in a derivatives’ fair value are recognized currently in earnings unless specific hedge accounting criteria is met. The mark-to-market fluctuations on any cash flow hedge are recorded in other comprehensive income on the consolidated balance sheet. During 2010, we did not enter into any new derivative instruments, and have no outstanding derivative contracts at December 31, 2010. There were no changes in fair value of derivatives recognized in 2010 in earnings, and no mark-to market changes in cash flow hedges recorded in 2010.

During 2009 we entered into two types of financial derivative instruments consisting of cash flow hedges for an energy sale that included pricing based on daily natural gas prices, and FTRs purchased to manage congestion risk for forward power sales contracts. As of December 31, 2009, approximately $0.7 million remained in other assets on our consolidated balance sheet for FTRs, which settled monthly throughout the first five months of 2010 at cost. During 2009, changes in the fair value of outstanding derivatives resulted in the recognition of $.04 million of revenue in the first two quarters, and a decrease in revenue of $0.4 million in the third quarter of 2009 when the energy swap contract ended. The mark-to-market fluctuations on the cash flow hedge in 2009 were recorded in other comprehensive income as a $0.1 milli on increase in fair value in the first quarter and a decrease of $0.1 million in the second quarter of 2009.


Note 18.
Quarterly Financial Data (Unaudited)

Information for any one quarterly period is not necessarily indicative of the results which may be expected for the year.

Quarter Ended
Mar. 31
Jun. 30
Sept. 30
Dec. 31
Millions Except Earnings Per Share
       
2010
       
Operating Revenue
$233.6
$211.2
$224.1
$238.1
Operating Income
$46.1
$31.7
$35.3
$22.7
Net Income Attributable to ALLETE
$23.0
$19.4
$19.6
$13.3
Earnings Per Share of Common Stock
       
Basic
$0.68
$0.57
$0.57
$0.38
Diluted
$0.68
$0.57
$0.56
$0.38
 
2009
       
Operating Revenue
$199.6
$164.7
$178.8
$216.0
Operating Income
$31.1
$15.7
$25.4
$33.8
Net Income Attributable to ALLETE
$16.9
$9.4
$16.0
$18.7
Earnings Per Share of Common Stock
       
Basic
$0.55
$0.29
$0.49
$0.56
Diluted
$0.55
$0.29
$0.49
$0.56

ALLETE 2010 Form 10-K
91 
 

 

Schedule II

ALLETE
Valuation and Qualifying Accounts and Reserves


 
Balance at
Additions
Deductions
Balance at
 
Beginning
Charged
Other
from
End of
 
of Period
to Income
Charges
Reserves (a)
Period
Millions
         
Reserve Deducted from Related Assets
         
Reserve For Uncollectible Accounts
         
2008  Trade Accounts Receivable
$1.0
$1.0
$1.3
$0.7
  Finance Receivables – Long-Term
$0.2
$0.1
$0.1
2009  Trade Accounts Receivable
$0.7
$1.3
$1.1
$0.9
  Finance Receivables – Long-Term
$0.1
$0.3
$0.4
           
2010  Trade Accounts Receivable
$0.9
$1.1
$1.1
$0.9
  Finance Receivables – Long-Term
$0.4
$0.8
$ 0.4
$0.8
Deferred Asset Valuation Allowance
         
2008  Deferred Tax Assets
$3.3
$ (2.9)
$0.4
2009  Deferred Tax Assets
$0.4
$ (0.1)
$0.3
2010  Deferred Tax Assets
$0.3
$0.2
$0.5

(a) Includes uncollectible accounts written off.


ALLETE 2010 Form 10-K
92 

 

EX-10.H1 2 exhibit_10h1.htm AMENDED AND RESTATED AIP exhibit_10h1.htm
Exhibit 10(h)1
 
 
 
 
AMENDED AND RESTATED

ALLETE

EXECUTIVE ANNUAL INCENTIVE PLAN




With Amendments through January 1, 2011

 
 

 

AMENDED AND RESTATED
ALLETE
EXECUTIVE ANNUAL INCENTIVE PLAN

 
Article 1.Establishment and Purpose

1.1Establishment of the Plan.  ALLETE, Inc., a Minnesota corporation, f/k/a Minnesota Power, Inc., f/k/a Minnesota Power & Light Company (hereinafter referred to as the “Company”), hereby establishes an annual incentive compensation plan (the “Plan”), as set forth in this document.  The Plan allows for annual cash payments to Participants based on the Company’s annual performance relative to both financial and non-financial goals.

1.2Purpose of the Plan.  The purpose of the Plan is to motivate Participants to work toward improved annual financial and non-financial performance.  The Plan is further intended to assist the Company in its ability to attract and retain the services of officers and key employees upon whom the successful conduct of its operations is largely dependent.

1.3 Compensation Recovery Policy.  Effective January 1, 2011, all amounts payable to Participants in accordance with the Plan are subject to the terms of any compensation recovery policy or policies established by ALLETE as such policy or policies may be amended from time to time (“Compensation Recovery Policy”). ALLETE hereby incorporates into the Plan the terms of the Compensation Recovery Policy.


Article 2.Definitions

Whenever used in the Plan, the following terms shall have the meanings set forth below and, when such meaning is intended, the initial letter of the word is capitalized:

2.1Award” means the payment made to the Participant based on the achievement of established financial and nonfinancial performance goals as provided under the Plan.

2.2Business Unit” means any subsidiary or division of the Company labeled as a business unit for the purposes of the Plan.

2.3Change in Control” of the Company shall be deemed to have occurred as of the first day that any one or more of the following conditions shall have been satisfied:

(a)the dissolution of the Company;

(b)a reorganization, merger or consolidation of the Company with one or more unrelated corporations, as a result of which the Company is not the surviving corporation;

(c)the sale, exchange, transfer or other disposition of shares of the common stock of the Company (or shares of the stock of any person that is a shareholder of the Company) in one or more transaction, related or unrelated, to one or more persons unrelated to the Company if, as a result of such transactions, any person (or any person and its affiliates) owns more than twenty percent of the voting power of the outstanding common stock of the Company; or

(d)the sale of all or substantially all the assets of the Company.

2.4Code” means the Internal Revenue Code of 1986, as amended from time to time.

2.5Committee” means the Executive Compensation Committee, appointed by the Board of Directors to administer the Plan.
 
                2.6Disability” or “Disabled” means a physical or mental condition in which the Participant is:
 
(a)           unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months;
 
(b)           by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under the Employer’s accident and health plan;
 
(c)           determined to be totally disabled by the Social Security Administration; or
 
(d)           disabled pursuant to an Employer-sponsored disability insurance arrangement provided that the definition of disability applied under such disability insurance program complies with the foregoing definition of Disability.
 
2.7Eligible Employee” means an employee who is eligible to participate in the Plan, as approved by the Committee.

2.8Participant” means an Eligible Employee who has received an opportunity for an Award.

2.9Performance Year” shall mean the period from January 1 through December 31 of any given year.

2.10Proration” or “Prorated” means an Award calculation that accounts for a period that is less than a full Performance Year.  In the case of time spent in a job position or Business Unit, Proration will be based on the number of whole months spent in the position or Business Unit and counting as a whole month any month the Participant was in the position or Business Unit on the 15th of the month.  In the case of a performance period that is less than a full Performance Year, Proration will be based on the number of months elapsed since the beginning of the Performance Y ear and counting as a whole month any month during which at least 15 calendar days were included as part of the performance period.

2.11Related Company” means ALLETE, Inc. and all persons with whom the ALLETE, Inc. would be considered a single employer under Code section 414(b) (employees of controlled group of corporations), and all persons with whom such person would be considered a single employer under Code section 414(c) (employees of partnerships, proprietorships, etc., under common control); provided that in applying Code sections 1563(a)(1), (2), and (3) for purposes of determining a controlled group of corporations under Code section 414(b), the language “at least 50 percent” is used instead of “at least 80 percent” each place it appears in Code sections 1563(a)( 1), (2), and (3), and in applying Treasury Regulations section 1.414(c)-2 for purposes of determining trades or businesses (whether or not incorporated) that are under common control for purposes of Code section 414(c), “at least 50 percent” is used instead of “at least 80 percent” each place it appears in Treasury Regulations section 1.414(c)-2.

2.12Retirement” or “Retires” means Separation from Service, for reasons other than death or Disability, on or after attaining normal retirement age or early retirement age as defined in the most applicable qualified retirement plan sponsored by the Related Company that employed  the Participant immediately preceding the Separation from Service, without regard to whether the Participant is a participant in such plan, or if the employer Related Company does not sponsor such retirement plan, on or after attaining Normal Retirement Age or Early Retirement Age as defined in the Minnesota Power and Affiliated Companies Retirement Pla n A, without regard to whether the Participant is a participant under the Minnesota Power and Affiliated Companies Retirement Plan A.

2.13Separation from Service” means that the Participant terminates employment within the meaning of Treasury Regulations section 1.409A-1(h) and other applicable guidance with all Related Companies.  Whether a termination of employment has occurred is determined under the facts and circumstances, and a termination of employment shall occur if all Related Companies and the Participant reasonably anticipate that no further services shall be performed after a certain date or that the level of bona fide services the Participant shall perform after such date (as an employee or an independent contractor) shall permanently decrease to no more than 20 percent of t he average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the full period of services to the Related Companies if the Participant has been providing services to the Related Companies less than 36 months).  A Participant shall not be considered to separate from service during a bona fide leave of absence for less than six (6) months or longer if the Participant retains a right to reemployment with any Related Company by contract or statute.  With respect to disability leave, a Participant shall not be considered to separate from service for 29 months unless the Participant otherwise terminates employment or is terminated by all Related Companies

2.14Target Award” means the percent of base salary set out at the beginning of the Performance Year, a percentage of which is earned based on performance.


Article 3.Administration

3.1The Committee.  The Plan shall be administered by the Executive Compensation Committee of the Board.

3.2Authority of the Committee.  The Committee shall have full power to administer the Plan, including, without limitation, the following: to determine the size of Awards; to determine the terms and conditions under which Awards will be made; to interpret the Plan as it deems appropriate; to establish, amend or waive rules relating to the administration of the Plan; and to delegate its authority as it deems appropriate.

3.3Costs.  The Company shall pay all costs of administration of the Plan.


Article 4.  Funding

4.1Required Funding.  The required funding for Awards under the Plan will be determined before the start of each Performance Year by summing the Target Awards of the Participants.

4.2Adjustments.  As soon as practical after the end of the Performance Year, Awards will be calculated and the funded Award pool will be adjusted accordingly.  If the sum total of actual Awards is greater than the sum total of Target Awards, the difference will be paid out of the additional Company profit generated by the results causing the higher payout.


Article 5.Eligibility and Participation

5.1Eligibility.  Eligible Employees may include officers and key employees of Related Companies, including employees who serve as members of the Company’s Board of Directors, as determined by the Company Chief Executive Officer and approved by the Committee.


Article 6.  Performance Measurement

6.1Financial Measures.  Within ninety (90) days of the start of the Performance Year, the Committee shall approve any financial performance goals using measurements such as the following:  return on gross investment (ROGI), free cash flow, revenue growth, earnings before interest, taxes, depreciation, amortization and leases (EBITDAL), and/or earnings per share (EPS).

6.2Nonfinancial Measures Employed.  Within ninety (90) days of the start of the Performance Year, the Committee will approve any non-financial performance goals based on strategic objectives.


Article 7.Award Determination

7.1Award Calculation.  As soon as possible after the close of the Performance Year, based on audited financial statements (for financial goals) and other records (for nonfinancial goals), each Participant’s Award shall be calculated.  The Committee reserves the right to select from all Eligible Employees, an employee or employees who will not receive Awards under the Plan due to individual performance.  A Participant’s Award will be reduced by, and the Participant will not receive, any amount that otherwise would be disallowed as a deduction by the Company due to the limitations under Code Section 162(m), or any subsequent or similar Cod e provision that limits the amount of compensation expense the Company may deduct.

7.2Awards.  Any Award with respect to a Performance Year shall be paid between January 1 and March 15 of the year following the close of such Performance Year.


Article 8. Other Awards

The Committee shall have the right to make other Awards which it deems appropriate based on outstanding individual or team performance.  The Committee may grant shares of the Company’s common stock in lieu of cash from time to time.


Article 9.Beneficiary Designation

Each Participant under the Plan may name any beneficiary to whom any benefit under the Plan is to be paid in case of his or her death before he or she receives any or all of such benefit.  Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the Committee, and will be effective only when filed by the Participant in writing with the Committee during the Participant’s lifetime.  In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate.


Article 10.  Deferrals

The Committee may permit a Participant to defer such Participant’s receipt of an Award.  If any such deferral election is permitted, the Committee shall, in its sole discretion, establish rules and procedures for such payment deferrals.


Article 11.New Hires

A new employee may become a Participant in the year hired and become eligible to earn a Prorated Award for the Performance Year corresponding to the year of hire.


Article 12.Transfers

If during a Performance Year the Participant transfers to a different Business Unit and remains a Participant in the new Business Unit but with different performance goals, different opportunity level or both, the Participant will be eligible to earn a total Prorated Award equal to the sum of: (a) the Prorated Award applicable to the portion of the Performance Year spent in the Business Unit from which the Participant transferred and (b) the Prorated Award applicable to the portion of the Performance Year spent in the Business Unit to which the Participant transferred.


Article 13.Promotions

If during a Performance Year the Participant transfers to a different position in the same Business Unit but with a different opportunity level, the Participant will be eligible to earn a total Prorated Award equal to the sum of: (a) the Prorated Award applicable to the portion of the Performance Year spent in the position from which the Participant transferred and (b) the Prorated Award applicable to the portion of the Performance Year spent in the position to which the Participant transferred.


Article 14.Retirement or Disability

In the case of Retirement or Disability, the Participant will receive a Prorated Award based on the number of months within the Performance Year which had elapsed as of the date of Retirement or Disability.


Article 15.Death

Prorated Awards earned based on the number of months during the Performance Year spent in the employ of the Company until death will be paid to the Participant’s beneficiary or, if no beneficiary is named, to the Participant’s estate.

 
Article 16.Separation from Service

Separation from Service other than for Retirement, Disability or death before December 31 of any Performance Year results in forfeiture of any Award unless otherwise determined by the Committee.
 
 

 
 
Article 17. Rights of Employees

17.1Employment.  Nothing in the Plan shall interfere with or limit in any way the right of the Company to terminate any Participant’s employment at any time, for any reason or for no reason in the Company’s sole discretion, nor confer upon any Participant any right to continue in the employ of the Company.

17.2Participation.  No employee shall have the right to be selected to receive an Award under the Plan, or, having been so selected, to be selected to receive a future Award.


Article 18.Change in Control

Upon the occurrence of a Change in Control, as defined herein, Awards under the Plan will be calculated as if the end of the Performance Year had occurred, based on the Company’s performance to date.  If Awards are earned, Participants will receive a Prorated Award based on the number of months in the Performance Year which had elapsed as of the Change in Control.


Article 19.Withholding

The Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state and local taxes (including the Participants' FICA obligation) required by law to be withheld with respect to an Award made under the Plan.


Article 20.Amendment

The Company reserves the right to cancel, amend, terminate, suspend or otherwise change the Plan or outstanding Awards for any reason at any time before, during or after the Performance Year to which an Award relates, upon authorization of its Board of Directors.  The Executive Compensation Committee of the Board of Directors may expand, reduce or otherwise change any and all opportunities, Awards, and any and all financial factors, or financial measures used in the Plan or outstanding Awards for any reason at any time before, during or after the Performance Year to which an Award relates.  All changes described in this paragraph are at the sole discretion of the Board of Directors and/or the Executive Compensation Committee, may be made at any time, and may have a retroactive effective date.


                                                                                  ALLETE, Inc.


By   Alan R. Hodnik_____________________
                  Alan R. Hodnik
                                                              President & Chief Executive Officer




Attest:


By   Debroah A. Amberg________________________
Deborah A. Amberg
Senior Vice President, General Counsel & Secretary


 
 

 

EX-10.H4 3 exhibit_10h4.htm ALLETE EXECUTIVE ANNUAL INCENTIVE PLAN FORM OF AWARD EFFECTIVE 2011 exhibit_10h4.htm
Exhibit 10(h)4
 
 
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2011
[Eligible Executive Employees]
 
 

Target Award Opportunity


Base Salary
$
   
Times
 
   
Award Opportunity (percent of base salary)
%             
   
Equals
 
   
Target Award
$

Performance Levels and Award Amounts


 
Goal Performance Level
Payout as Percent of
Target Award
 
Award Amount
Superior
200%
$
Target
100%
$
Threshold
37.5%
$
Below Threshold
0%
$


Goals

             
Goal
             
Weighting
 
Financial Goals
         
   
Net Income from Continuing Operations
50%
   
Cash from Operating Activities
 
25%
               
 
Strategic Goals
     
  25% 
             
100%

Compensation Subject to Compensation Recovery Policy

Annual Incentive Plan Compensation is subject to recoupment as defined in the Compensation Recovery policy.
EX-10.I2 4 exhibit_10i2.htm ALLETE AND AFFILIATED COMPANIES SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AS AMENDED exhibit_10i2.htm
 
Exhibit 10(i)2
 
 
AMENDMENT TO
 
ALLETE AND AFFILIATED COMPANIES
 
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
 
              The ALLETE and Affiliate Companies Supplemental Executive Retirement Plan, as amended and restated effective January 1, 2009 (“SERP I”), is amended as follows, effective January 1, 2011.

1.           Section 1.1 is amended by adding the following new sentence at the end:
 
              
Effective January 1, 2011, the Company hereby amends SERP I to provide that the SERP I retirement benefit not yet paid to a participant is forfeited in the event the participant has a separation from service for cause and to incorporate any compensation recovery policy adopted by the Company.
             
 
2.           New Section 1.3 is added to read as follows:
 
                            1.3        Compensation Recovery Policy.
 
              
Effective January 1, 2011, all amounts payable to Participants in accordance with this Plan are subject to, and the Company hereby incorporates into this SERP I, the terms of any compensation recovery policy or policies established and amended by the Company from time to time (“Compensation Recovery Policy”).
                                        

3.           A new defined term “Misconduct” is added at the end of Section 2 to read as follows:

 
(Q)
“Misconduct” means the occurrence of either or both of the following, as determined in its sole discretion by either the Executive Compensation Committee of the Company’s Board of Directors with respect to Section 16 Officers of the Company, or the Administrator with respect to any other Participant:
 
 
(a)
an act or omission by the Participant involving dishonesty in connection with his or her responsibilities as an employee of the Company; or
 
 
(b)
the Participant’s conviction of, or entry of a plea of nolo contendere to, any felony or a misdemeanor involving moral turpitude, provided that a misdemeanor motor vehicle violation will not constitute a crime of moral turpitude unless it involves driving while impaired within the scope of employment or another serious driving offense committed within the scope of employment.
 
For purposes of clarifying the foregoing definition, Misconduct can occur regardless of whether the Company discovers the Misconduct before or after the Participant’s termination of employment and regardless of whether the Participant terminates employment on account of the Misconduct.
 

4.           New Section 4.17 is added to read as follows:
 
                            4.17       Forfeiture of Vested Retirement Benefit for Misconduct.
 
              
Notwithstanding any other term or condition in this Section 4, a Participant will forfeit any vested Retirement Benefit attributable to any year during which the Participant engaged in Misconduct and any subsequent period.  For purposes of calculating the Retirement Benefit of any Participant who engaged in Misconduct, the Participant’s Final Average Earnings and Years of Credited Service will exclude the period during which the Participant engaged in Misconduct and any subsequent period.
                                          
 
5.           New Section 4.18 is added to read as follows:
 
                            4.18       Withholding Pursuant to Compensation Recovery Policy.
 
              
All benefits are subject to the provisions of Sections 1.3, regardless of whether distributions have commenced.

                                          
              IN WITNESS WHEREOF, and as evidence of the adoption of this amendment to SERP I, ALLETE, Inc. has caused this amendment to be executed by its duly authorized representative this __ day of ___________, 2011.
 
ALLETE, Inc.


By:  /s/ Alan R. Hodnik______________                                                                    
Alan R. Hodnik
President and Chief Executive Officer
ATTEST:

By:  /s/ Deborah A. Amberg__________                                                                    
Deborah A. Amberg
Senior Vice President, General Counsel & Secretary

 
 

 

EX-10.I3 5 exhibit_10i3.htm ALLETE AND AFFILIATED COMPANIES SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN II exhibit_10i3.htm
Exhibit 10(i)3
 
 


ALLETE AND AFFILIATED COMPANIES
 
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN II

 
Amended and Restated Effective January 1, 2011
 

 

 
 

 


TABLE OF CONTENTS
Page
ARTICLE 1 Establishment and Purpose
 
2
 
1.1
Establishment
2
 
1.2
Compensation Recovery Policy
3
ARTICLE 2 Section 409A Plans and Organization
3
 
2.1
Section 409A Plans
3
 
2.2
Organization
3
 
2.3
Section 409A Compliance
3
ARTICLE 3 Administration
4
 
3.1
Administrator
4
 
3.2
Duties
4
 
3.3
Agents
4
 
3.4
Binding Effect of Decisions
4
 
3.5
Employer Information
4
ARTICLE 4 Participation
4
 
4.1
Eligibility and Commencement of Participation
4
 
4.2
Special Rule for Initial Participation
5
 
4.3
Termination of Participation
5
ARTICLE 5 Annual Make-Up Award
5
 
5.1
Eligibility
5
 
5.2
Amount of Annual Make-Up Award
5
 
5.3
Payment
6
 
5.4
Forfeiture of Annual Make-up Award
6
ARTICLE 6 SERP II Account Balance Plan for Employees
7
 
6.1
Elective Deferrals
7
 
6.2
Non-Elective Deferrals
8
 
6.3
FICA and Other Taxes
8
 
6.4
Distributions
8
 
6.5
Additional Distribution Rules
10
 
6.6
Subsequent Changes in Time and Form of Distributions
11
ARTICLE 7 Accounts and Investments
12
 
7.1
Establishment of Accounts
12
 
7.2
Timing of Credits to Accounts
12
 
7.3
Vesting
12
 
7.4
Investments
12
 
7.5
Valuation Date
12
ARTICLE 8 SERP II Retirement Benefit
12
 
8.1
Eligibility
12
 
8.2
Vesting and Forfeiture
13
 
8.3
Retirement Benefit
13
 
8.4
Forfeiture of Vested Retirement Benefit for Misconduct
13
 
8.5
Time and Form of Distributions
14
 
8.6
Additional Distribution Rules
14
 
8.7
Subsequent Changes in Time and Form of Payment
16
 
8.8
FICA and Other Taxes
16
ARTICLE 9 Payment Acceleration and Delay
16
 
9.1
Permitted Accelerations of Payment
16
 
9.2
Permissible Payment Delays
17
 
9.3
Suspension Not Allowed
18
ARTICLE 10 Beneficiary Designation
18
 
10.1
Beneficiary
18
 
10.2
No Beneficiary Designation
18
ARTICLE 11 Claims Procedures
18
 
11.1
Presentation of Claim
18
 
11.2
Notification of Decision
18
 
11.3
Review of a Denied Claim
19
 
11.4
Decision on Review
20
 
11.5
Other Remedies
20
ARTICLE 12 Amendment or Termination
21
ARTICLE 13 Miscellaneous Provisions
21
 
13.1
Unsecured General Creditor
21
 
13.2
Employer’s Liability
21
 
13.3
Nonassignability
21
 
13.4
No Right to Employment
21
 
13.5
Incompetency
22
 
13.6
Tax Withholding
22
 
13.7
Furnishing Information
22
 
13.8
Notice
22
 
13.9
Gender and Number
22
 
13.10
Headings
22
 
13.11
Applicable Law and Construction
22
 
13.12
Invalid or Unenforceable Provisions
22
 
13.13
Successors
23
APPENDIX A
24

 
 

 

ALLETE AND AFFILIATED COMPANIES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN II
 
Effective January 1, 2011
 
 
ARTICLE 1
 
Establishment, Purpose and Intent
 
1.1  
Establishment.  This document includes the terms of the ALLETE and Affiliated Companies Supplemental Executive Retirement Plan II.  The purpose of SERP II is to provide eligible Employees (i) an opportunity to elect to defer compensation and (ii) a supplemental Retirement Benefit, the primary purpose of which is to compensate for annual compensation limits and maximum benefit limitations imposed by the Code on Retirement Plans maintained by the Company.
 
SERP II is a successor to the ALLETE and Affiliated Companies Supplemental Executive Retirement Plan (“SERP I”).  On December 31, 2004, the Company froze SERP I with respect to all deferrals and vested accrued Retirement Benefits (if any).  On January 1, 2005, the Company established SERP II to govern (a) amounts initially deferred after December 31, 2004 and investment earnings thereon; (b) Retirement Benefit accruals after December 31, 2004; and (c) accrued but unvested SERP I Retirement Benefits as of December 31, 2004.  From January 1, 2005 to the effective date hereof, the Company operated and administered the Plan in all material respects in good faith compliance with the applicable requirements of Section 409A, the final and proposed Treasury Regulations, IRS Notice 2005-1, an d all other IRS guidance.  The Company amended and restated SERP II in its entirety, effective January 1, 2009, to comply with Section 409A.  The Company intends that SERP II constitute an unfunded deferred compensation plan for a select group of management or highly compensated employees within the meaning of ERISA sections 201(2), 301(a)(3) and 401(a)(1).  All provisions of SERP II shall be interpreted and administered to the extent possible in a manner consistent with the stated intentions.
 
Effective January 20, 2009, the Company amended SERP II to narrow the salary-grade eligibility requirements to receive an Annual Make-Up Award for employees who first became eligible to participate in SERP II after September 30, 2006.

Effective January 1, 2011, the Company hereby amends SERP II to incorporate any compensation recovery policy adopted by the Company and to provide that certain benefits may be subject to forfeiture for Misconduct.

Capitalized terms, unless otherwise defined herein, shall have the meaning provided in Appendix A.

 
Page 2 

 
 
1.2  
Compensation Recovery Policy.  Effective January 1, 2011, all amounts payable to Participants in accordance with this Plan are subject to, and the Company hereby incorporates into this SERP II, the terms of any compensation recovery policy or policies established and amended by the Company from time to time (“Compensation Recovery Policy”).
 
ARTICLE 2
 
Section 409A Plans and Organization
 
2.1  
Section 409A Plans.
 
The provisions of SERP II include terms and conditions applicable to the following 409A Plans:
 
2.1.1  
An elective account balance plan for Employees for purposes of Elective Deferrals;
 
2.1.2  
A non-elective account balance plan for Employees for purposes of Non-Elective Deferrals; and
 
2.1.3  
A non-account balance plan for Employees.
 
2.2  
Organization.
 
Except as otherwise provided in this section or in a specific section, all provisions of the Plan apply to all amounts deferred under any Article of the Plan.
 
2.2.1  
The provisions of Article 5 apply only for purposes of identifying employees eligible to receive an Annual Make-Up Award and the amount of the award, if any.
 
2.2.2  
The provisions of Articles 6 and 7 apply only to the extent that SERP II provides for Employees’ Elective Deferrals, or Non-Elective Deferrals or both, which, for purposes of Section 409A, represent the elective and non-elective account balance plans identified in subsections 2.1.1 and 2.1.2, respectively.
 
2.2.3  
The provisions of Article 8 apply only to the extent that SERP II provides for Retirement Benefits, which represent the non-account balance plan identified in subsection 2.1.3.
 
2.3  
Section 409A Compliance.
 
To the extent that any provision of the Plan would cause a conflict with the requirements of Section 409A, or would cause the administration of the Plan to fail to satisfy Section 409A, such provision shall be deemed null and void to the extent permitted by applicable law. Nothing herein shall be construed as a guarantee of any particular tax treatment to a Participant.
 
 
Page 3 

 
 
ARTICLE 3
 
Administration
 
3.1  
Administrator.
 
The Administrator shall administer the Plan or may delegate any of its duties to such other person or persons from time to time as it may designate. Members of the Employee Benefit Plans Committee may participate in SERP II; however, any individual serving on the Employee Benefit Plans Committee shall not vote or act on any matter relating solely to himself or herself.
 
3.2  
Duties.
 
The Administrator has the authority to construe and interpret all provisions of the Plan and, to the extent permitted by Section 409A, the Administrator is authorized to remedy any errors, inconsistencies or omissions, to resolve any ambiguities, to adopt rules and practices concerning the administration of the Plan, and to make any determinations and calculations necessary or appropriate hereunder.  The Company shall pay all expenses and liabilities incurred in connection with Plan administration.
 
3.3  
Agents.
 
The Administrator may engage the services of accountants, attorneys, actuaries, investment consultants, and such other professional personnel as are deemed necessary or advisable to assist in fulfilling the Administrator’s responsibilities.  The Administrator, the Company and the Board may rely upon the advice, opinions or valuations of any such persons.
 
3.4  
Binding Effect of Decisions.
 
The decision or action of the Administrator with respect to any question arising out of or in connection with the administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final, conclusive and binding upon all persons having any interest in the Plan.  Neither the Administrator, its delegates, nor the Board shall be personally liable for any good faith action, determination or interpretation with respect to the Plan, and each shall be fully protected by the Company in respect of any such action, determination or interpretation.
 
3.5  
Employer Information.
 
To enable the Administrator to perform its duties, each Employer shall supply full and timely information to the Administrator on all matters relating to the compensation of its Participants, the date and circumstances of the Participant’s death, Disability or Separation from Service, and other pertinent information as the Administrator may reasonably require.
 
ARTICLE 4
 
Participation
 
4.1  
Eligibility and Commencement of Participation.
 
Eligible Employees may participate in the Plan, except to the extent provided in Section 8.1 regarding eligibility for Retirement Benefits.  Each Plan Year, the Administrator shall notify Eligible Employees of their eligibility to participate in the Plan during the following Plan Year.  An Eligible Employee shall become a Participant either upon the initial submission of an election form on which the Eligible Employee has elected Elective Deferrals or upon first receiving an allocation of Non-Elective Deferrals.
 
 
Page 4 

 
 
4.2  
Special Rule for Initial Participation.
 
Within 30 days after the date an individual first becomes an Eligible Employee, the individual may elect to commence participating with respect to compensation to be paid for services performed after the election is filed.  This election relating to initial participation in the Plan is available only to Participants who do not participate in any Aggregated Plans.  If an Employee whose participation in the Plan is terminated again becomes an Eligible Employee, he or she may elect to defer pursuant to this Section only if the Employee was ineligible to defer compensation in this Plan and all other Related Company elective account balance plans, within the meaning of Section 409A, for the 24 months preceding the date on which the Participant again became eligible to participate in this Plan.
 
4.3  
Termination of Participation.
 
If the Administrator determines in good faith that a Participant is no longer an Eligible Employee, the Participant shall cease active participation in the Plan on the last day of the Plan Year during which the Participant ceased to be an Eligible Employee, and the terms of this Plan shall continue to govern Participant’s Account until the Participant’s Account is paid in full.
 

ARTICLE 5
 
Annual Make-Up Award
 
5.1  
Eligibility.
 
An Employee who:  (i) was a Participant as of September 30, 2006, (ii) has continuously remained an Employee in ALLETE management salary grade SA-SM, and (iii) has continuously participated in the ALLETE Executive Annual Incentive Plan or been eligible to receive a Bonus shall be eligible to receive an Annual Make-up Award.  Any other Employee shall be eligible to receive an Annual Make-up Award if the Employee:  (i) initially becomes, or again becomes, a Participant after September 30, 2006, (ii) is in ALLETE management salary grade SG-SM, and (iii) participates in the ALLETE Executive Annual Incentive Plan or is eligible to receive a Bonus.

5.2  
Amount of Annual Make-Up Award.
 
The Annual Make-Up Award shall be the sum of the Flexible Dollar Makeup, the RSOP Allocation Makeup and the RSOP Match Allocation Makeup, each calculated as described in this section.
 
5.2.1  
Flexible Dollar Makeup.  The Flexible Dollar Makeup for a Plan Year shall equal the product of A and B, with A equal to the sum of (i) 2% and (ii) the Participant’s life insurance percentage under the Minnesota Power and Affiliated Companies Flexible Compensation Plan for nonunion employees, and B equal to the sum of: (a) the total of the Participant’s Annual Incentive Award and other awards (to the extent included in calculations for the Retirement Plans) for such year, and (b) the Participant’s Salary (determined as of October 1 of the prior Plan Year) in excess of the Code section 401(a)(17) limitation in effect for that Plan Year.
 
 
Page 5 

 
 
5.2.2  
RSOP Allocation Makeup.  For a Participant who was a Participant as of September 30, 2006, for so long as he remains continuously eligible as a Participant, the RSOP Allocation Makeup for a Plan Year shall equal the product of C and D, with C equal to the sum of (i) 1.5% and (ii) the percentage (if any) being allocated for that year as an excess amount pursuant to the RSOP, and D equal to the sum of (a) the total of the Participant’s Annual Incentive Award and other award (to the extent included in calculations for the Retirement Plans) for such year, and (b) the amount of the Participant’s Salary in excess of the Code section 401(a)(17) limitation in effect for that Plan Year.
 
For a Participant who becomes a Participant on or after October 1, 2006, the RSOP Allocation Makeup for a Plan Year shall equal the product of E and F, with E equal to the sum of: (i) 6% and (ii) the percentage, if any, being allocated as an excess amount pursuant to the RSOP; and F equal to the sum of (a) the total of the Participant’s Annual Incentive Award and other award (to the extent included in calculations for the Retirement Plans) for the year, and (b) the amount of the Participant’s Salary in excess of the Code section 401(a)(17) limitation in effect for that Plan Year.
 
If a Participant ceases to be an Eligible Employee during a Plan Year the RSOP Allocation Makeup for that Plan Year will be calculated by:  (i) taking into account the full Annual Incentive Award and other award (to the extent included in calculations for the Retirement Plans) and, (ii) with respect to any Participant whose base salary exceeds the Code section 401(a)(17) limitation in effect for that Plan Year, prorating the Participant’s Salary to reflect the period during the Plan Year for which the Participant was an Eligible Employee.
 
5.2.3  
RSOP Match Allocation Makeup.  The RSOP Match Allocation Makeup for a Plan Year shall equal the excess of G over H, with G equal to the lesser of: (i) the sum of the Participant’s Elective Deferrals out of Salary and RSOP deferrals (including both pre-tax and Roth after-tax deferrals), and (ii) with respect to any Eligible Employee who was a Participant as of September 30, 2006, for so long as he remains continuously eligible as a Participant, 4% of the Participant’s Salary plus Bonus; or with respect to any Eligible Employee who becomes a Participant on or after October 1, 2006, 5% of the Participant’s Salary plus Bonus; and H equal to RSOP matching contributions for the Plan Year on b ehalf of the Participant.
 
5.3  
Payment.
 
Except to the extent deferred in accordance with this Plan, the Annual Make-Up Award for any year shall be paid between January 1 and March 15 of the year following the year to which the award relates.
 
         5.4
Forfeiture of Annual Make-Up Award.  Notwithstanding any other term or provision of this Article 5, if a Participant engages in Misconduct, the Participant shall forfeit or repay, as necessary, any Annual Make-Up Award payable on account of the period during which the Misconduct occurred and any subsequent period.

Page 6 
 

 
 
ARTICLE 6
 
SERP II Account Balance Plan for Employees
 
6.1  
Elective Deferrals.
 
6.1.1  
Deferral Elections.  For each Plan Year, a Participant may elect to defer some or all of Salary, Bonus, and, if eligible, an Annual Make-up Award, Severance Pay and Other Awards.  Elections are effective on a calendar year basis and become irrevocable no later than the date specified by the Administrator, but in any event before the beginning of the Plan Year to which the elections relate.  A Participant’s elections will become effective only if the forms required by the Administrator have been properly completed and signed by the Participant, timely delivered to the Administrator, and accepted by the Administrator.  A Participant who fails to file elections before the required date will be treated as having elected not to defer any amounts for the following Plan Year.  For any Plan Year the Administrator may, in its sole discretion, decide not to allow one or more Participants to defer certain types of compensation.
 
6.1.2  
Special Rule for Performance-Based Compensation.  The Administrator, in its complete and sole discretion, may allow a Participant to revise a deferral election with respect to a Bonus if the Administrator determines that the Bonus is performance-based compensation within the meaning of Section 409A and the election becomes irrevocable no later than the earlier of: (a) six months preceding the end of the performance period to which the Bonus relates; or (b) the date as of which the Bonus has become readily ascertainable, within the meaning of Section 409A.
 
6.1.3  
Special Rule for Severance Pay.  A Participant may elect to defer all or a portion of Severance Pay by filing with the Administrator an irrevocable deferral election no later than the date the Participant obtains a legally binding right to the Severance Pay.
 
6.1.4  
Cancellation of Deferral Election due to Disability.  If a Participant becomes disabled, the Administrator may, in its sole discretion, cancel the Participant’s deferral election, with respect to amounts to be deferred on or after the cancellation, by the end of the year during which the Participant becomes disabled, or, if later, the 15th day of the third month following the date on which the Participant becomes disabled.  For purposes of this Section, a Participant shall be disabled if the Participant is suffering from any medically determinable physical or mental impairment resulting in the Participant’ ;s inability to perform the duties of his position or any substantially similar position, if such impairment can be expected to result in death or can be expected to last for a continuous period of six months.
 
  Page 7
 

 
 
The Participant may elect to defer amounts for the Plan Year following his return to employment and for every Plan Year thereafter while an Eligible Employee, provided the Participant’s deferral election otherwise complies with all of the requirements of this Section.
 
6.1.5  
Cancellation of Deferral Election due to Unforeseeable Emergency.  If a Participant experiences an Unforeseeable Emergency during a Plan Year, the Participant may submit to the Administrator a written request to cancel Elective Deferrals for the Plan Year to satisfy the Unforeseeable Emergency.  If the Administrator either approves the Participant’s request to cancel Elective Deferrals for the Plan Year, or approves a request for a distribution of in accordance with Section 6.4.6, then effective as of the date the request is approved the Administrator shall cancel the Participant’s deferral elections for the remainder of the Plan Year.  A Participant whose Elective Deferra ls are canceled during a Plan Year in accordance with this section may elect Elective Deferrals for the following Plan Year; provided, however, if required to comply with Treasury Regulations section 1.401(k)-1(d)(3), the Participant may not elect to defer any amounts attributable to periods less than six months from the date on which the Participant receives a distribution on account of an Unforeseeable Emergency.
 
6.1.6  
Withholding of Deferrals.  The Administrator will withhold Elective Deferrals not later than the end of the calendar year during which the Company would otherwise have paid the amounts to the Participant but for the Participant’s deferral election.  The Administrator will not withhold Elective Deferrals from a Participant’s Salary during any period in which the Participant is on an unpaid leave of absence.
 
6.2  
Non-Elective Deferrals.
 
6.2.1  
Annual Make-Up Award.  If the Administrator determines that a Participant’s Salary exceeds the Code section 401(a)(17) limit, the Administrator shall automatically credit the Participant’s Annual Make-up Award to the Participant’s Account.
 
6.2.2  
162(m) Deferrals.  The Administrator shall automatically credit a Participant’s 162(m) Deferrals to the Participant’s Account.
 
6.3  
FICA and Other Taxes.
 
For each Plan Year during which a Participant has Deferrals, the Participant’s Employer(s) shall, in a manner determined by the Employer(s), withhold the Participant’s share of FICA and other required employment or state, local, and foreign taxes on Deferrals from that portion of the Participant’s Salary, Bonus, Annual Make-up Award, Severance Pay, Other Award and in the event of a 162(m) Deferral, the Participant’s compensation generally, that is not deferred. To the extent permitted by Section 409A, the Administrator may reduce a Participant’s Deferrals to the extent necessary to pay FICA and other employment, state, local and foreign taxes.
 
6.4  
Distributions.
 
The Plan provides for distributions in a Specified Year, or upon a Separation from Service, death, Disability, or Unforeseeable Emergency.  At the time of a Participant’s initial deferral election, a Participant may elect to receive a distribution:  (i) with respect to Elective Deferrals, in a Specified Year; and (ii) with respect to all Deferrals, upon the earlier of Separation from Service, death or Disability.  In each subsequent Plan year, a Participant may elect to have all or any portion of that year’s Elective Deferrals distributed either in a Specified Year, subject to the restrictions in Section 6.4.1, or in accordance with the Participant’s prior elections for distributions other than in a Specified Year.  Except as otherwise provided in the Plan, a Participant’ s distribution elections are irrevocable and will govern the Deferrals to which the election relates until the amounts covered by the election are paid in full or until subsequently changed in accordance with Section 6.6.  Notwithstanding any elections by a Participant, all distributions are subject to the provisions of Sections 1.2 and 6.5.
 
 
Page 8 

 
 
6.4.1  
Specified Year.  A Participant may elect to receive a distribution of Elective Deferrals in a Specified Year, which may be no earlier than the third Plan Year beginning after the date on which the Participant initially elects to receive a distribution in a Specified Year.  Except as otherwise provided in this subsection or in Section 6.6, once a Participant has elected to receive a distribution in a Specified Year, the Participant may not elect to receive a distribution in a different Specified Year.  Beginning during the year preceding any Specified Year previously elected by the Participant, the Participant may elect to receive a distribution of Elective Deferrals in a later Specifi ed Year, subject, however, to the restrictions of this subsection.  All amounts distributed in a Specified Year will be paid in a single lump sum.
 
6.4.2  
Separation from Service.  A Participant may elect to receive a distribution commencing either upon a Separation from Service, or during any of the first five years following the year of the Separation from Service.  A Participant may elect to receive a distribution in the form of a lump sum, monthly installments over a period of five (5), ten (10), or fifteen (15) years, or a combination of both a lump sum and installments.
 
6.4.3  
Disability.  A Participant may elect to receive a distribution on account of Disability.  Distributions upon Disability will commence on the earlier of the Participant’s 65th birthday or the second anniversary of the Disability, unless changed in accordance with Section 6.6.  A Participant may elect to receive the distribution in the form of a lump sum, monthly installments over a period of five (5), ten (10), or fifteen (15) years, or a combination of both a lump sum and installments.  Notwithstanding any other election by a Participant relating to a distribution upon Disability, if a Parti cipant dies after commencement of a Disability but before the year during which distributions would commence, the Participant’s Account shall be distributed in accordance with the Participant’s election regarding distributions upon death.
 
6.4.4  
Death.  A Participant may elect to receive a distribution commencing upon death or during any of the first five years following the year of death. A Participant may elect to receive a distribution in the form of a lump sum, monthly installments over a period of five (5), ten (10), or fifteen (15) years, or a combination of both a lump sum and installments.
 
 
Page 9 

 
 
6.4.5  
Unforeseeable Emergency.  A Participant may submit a written request for a distribution on account of an Unforeseeable Emergency.  Upon approval by the Administrator of a Participant’s request, the Participant’s Account, or that portion of a Participant’s Account deemed necessary by the Administrator to satisfy the Unforeseeable Emergency (determined in a manner consistent with Section 409A) plus amounts necessary to pay taxes reasonably anticipated because of the distribution, will be distributed in a single lump sum.
 
6.5  
Additional Distribution Rules.
 

 
6.5.1  
Default Time and Form of Distribution.  If a Participant fails timely to elect a time and form of distribution, the Participant’s Account will be distributed upon any Separation from Service, including death, in the form of a single lump sum payment.
 
 
6.5.2  
Commencement of Distributions.  Except as otherwise provided in this section, if a Participant has elected to receive a distribution commencing upon a Distribution Event, or if a distribution is required upon a Distribution Event, distribution will commence between the date of the Distribution Event and the end of the year in which the Distribution Event occurs.  If a Participant has elected, or is required, to receive a distribution commencing upon a Distribution Event, and the Distribution Event occurs on or after October 1 of a Plan Year, the distribution may, to the extent permitted by Section 409A, commence after the Distribution Event and on or before the 15th day of the third calendar month following the Distribution Event, even if after the end of the year during which the Distribution Event occurs; provided, however, the Participant will not be permitted, directly or indirectly, to designate the taxable year of the distribution.  If a Participant has elected to receive a distribution commencing during any of the first five years following the year of a Distribution Event, the distribution will commence during the year elected by the Participant.  If a Participant has elected to receive a distribution in a Specified Year, the distribution will occur during the Specified Year.  Any distribution that complies with this section shall be deemed for all purposes to comply with the Plan requirements regarding the time and form of distributions.
 
6.5.3  
Installments.  If a Participant elects to receive distributions in monthly installments, the Participant’s Account will be paid in substantially equal monthly installments in consecutive years over the period elected by the Participant.  Each monthly installment will be paid during the Plan Year in which it is due, commencing as described in Section 6.5.2.  During the Plan Year in which distributions commence, the Participant will receive one installment for each calendar month beginning after the date of the Distribution Event, or, if the Participant has elected to receive a distribution commencing during any of the first five years following the year of a Distribution Event, o ne monthly installment for each calendar month beginning after the anniversary date of the Distribution Event.  During the distribution period, the Participant’s Account will be credited with interest compounded monthly at a rate of 7.5% per year.  Any installment distribution that complies with this section shall be deemed for all purposes to comply with the Plan requirements regarding the time and form of distributions.
 
 
Page 10 

 
 
6.5.4  
Death After Commencement of Distributions.  Upon the death of a Participant after distributions of the Participant’s Account have commenced, the balance of the Participant’s Account will be distributed to the Participant’s Beneficiary at the same times and in the same forms that the Account would have been distributed to the Participant if the Participant had survived.
 
6.5.5  
Distributions to Specified Employees.  Notwithstanding anything to the contrary in this Plan, if a Participant becomes entitled to a distribution on account of a Separation from Service and is a Specified Employee on the date of the Separation from Service, distributions shall not commence until the earlier of:  (i) the expiration of the six-month period beginning on the date of Participant’s Separation from Service, or (ii) the date of Participant’s death.  Payments to which a Specified Employee would otherwise be entitled during this six-month period shall be accumulated and paid, together with earnings that have accrued during this six-month delay, during the seventh mo nth following the date of the Participant’s Separation from Service, or, if earlier, the date of the Participant’s death.
 
6.5.6  
Effect of Change in Control.  Notwithstanding a Participant’s elections regarding distributions upon a Separation from Service and a distribution in a Specified Year, if (a) the Participant has a Separation from Service within two years following a Change in Control or (b) a Change in Control occurs within six months after the Participant has a Separation from Service, the Participant shall receive a distribution of the Participant’s entire Account in a single lump sum upon the later of the Separation from Service or the Change in Control, whether or not distributions have already commenced.
 
6.6  
Subsequent Changes in Time and Form of Distributions.
 
A Participant may, in accordance with rules, procedures and forms specified from time to time by the Administrator, elect to change the time of commencement or change the form in which the Participant’s Account is distributed or both, provided that:  (i) the Participant elects at least twelve (12) months prior to the date on which payments are otherwise scheduled to commence; (ii) the new election does not take effect for at least twelve (12) months; and (iii) with respect to changes applicable to distributions in a Specified Year or upon Separation from Service, the distributions must be deferred for at least five (5) years from the date the distributions would otherwise have been paid, or in the case of installment payments, five (5) years from the date the installments were scheduled to commence.  For purp oses of this section, distributions on account of a Specified Year are considered scheduled to commence on January 1 of the Specified Year and all other distributions are considered to commence on the date of the Distribution Event, or if the Participant has elected a later year for commencement, January 1 of the year elected by the Participant.  Any election in accordance with this section to change the time or form or both shall be irrevocable on the date it is filed with the Administrator unless subsequently changed pursuant to this Section.
 
 
Page 11 

 

ARTICLE 7
 
Accounts and Investments
 
7.1  
Establishment of Accounts.
 
The Company will establish notional accounts for each Participant as the Administrator deems necessary or advisable from time to time.  The Company will establish a Participant’s Account at the earlier of the time a Participant first elects to defer any amounts into the Account or the time the Company first credits non-elective amounts to the Account.  Each Account shall be credited as appropriate with deferrals and earnings with respect to deferrals and debited for distributions from the Account.
 
7.2  
Timing of Credits to Accounts.
 
The Administrator shall credit a Participant’s Elective Deferrals to the Participant’s Account(s) not later than the end of the calendar year during which the Company would otherwise have paid the amounts to the Participant but for the Participant’s deferral election.  The Administrator shall credit Non-Elective Deferrals at such times and in such amounts as the Administrator determines.
 
7.3  
Vesting.
 
All Participant Accounts are fully vested at all times.
 
7.4  
Investments.
 
The Administrator may select investment funds to use for measuring notional gains and losses credited or debited to Participant’s Accounts.  The Administrator will establish, from time to time, rules and procedures for allowing each Participant who has not had a Distribution Event to designate which one or more of the selected investment funds will be used to determine the notional gains and losses credited or debited to the Participant’s Accounts prior to commencement of distributions.
 
7.5  
Valuation Date.
 
As of each Valuation Date, each Account will be adjusted to reflect the effect of notional investment gains or losses, additions, distributions, transfers and all other transactions with respect to that Account since the previous Valuation Date.
 
ARTICLE 8
 
SERP II Retirement Benefit
 
8.1  
Eligibility.
 
The provisions of Article 8 apply only to Eligible Employees who were eligible for Retirement Benefits on September 30, 2006.  Effective October 1, 2006, the Company froze eligibility for Retirement Benefits and individuals who were not Participants on that date are not eligible for Retirement Benefits.  Any Participant who was accruing Retirement Benefits on September 30, 2006 or who was eligible to accrue Retirement Benefits on that date because the Participant received an Annual Incentive Award or Other Award and was serving in management salary grades SA – SM, will remain eligible for Retirement Benefits in accordance with this section; provided the Participant remains an Employee of a Related Company.
 
 
Page 12 

 
 
8.2  
Vesting; Forfeiture of Unvested Retirement Benefit.
 
Participants will fully vest in the Retirement Benefit upon:  (i) Retirement; (ii) becoming Disabled after attaining both age 50 and 10 years of Vesting Service; or (iii) upon attaining age 50 and 10 years of Vesting Service after becoming Disabled.  Participants will forfeit unvested Retirement Benefits and prior years of Vesting Service upon Separation from Service or death prior to full vesting.
 
8.3  
Retirement Benefit.
 
The amount of the Retirement Benefit shall equal a single life annuity determined in the manner provided in the Retirement Plans, including any applicable early retirement factors and cost of living adjustments, but using a Participant’s Final Average Earnings and years of Credited Service as described in this section.
 
8.3.1  
Final Average Earnings.  Final Average Earnings include the sum of:  (i) the Participant’s four highest consecutive Annual Incentive Awards and Other Awards within the “applicable 15-year period,” and (ii) the Participant’s highest Basic Compensation during any consecutive 48-month period within the “applicable 15-year period” to the extent that Basic Compensation exceeds the limitation on compensation imposed by Code section 401(a)(17).  Compensation in excess of the limitation on compensation imposed by Code section 401(a)(17) shall be determined by using the limit in effect on the first day of the 48-month period described in (i) and the next thr ee anniversaries of that date.  With respect to a Participant who becomes entitled to a distribution upon Retirement, the “applicable 15-year period” shall be the fifteen (15) years preceding the date of Retirement.  With respect to a Participant who becomes entitled to a distribution because of Disability, the “applicable 15-year period” shall be the 15-year period that: (i) ends no earlier than the Participant’s Disability and no later than the Participant’s sixty-fifth (65th) birthday; and (ii) would result in the greatest Retirement Benefit.
 
8.3.2  
Years of Credited Service.  A Participant will receive credit for years of Credited Service after September 30, 2006, only to the extent that: (i) the Participant has been continuously employed since that date by a Related Company in management salary grades SA – SM; and (ii) distributions of Retirement Benefits have not commenced.
 

8.4  
Forfeiture of Vested Retirement Benefit for Misconduct. Notwithstanding any other term or condition in this Article 8, a Participant will forfeit any vested Retirement Benefit attributable to any year during which the Participant engaged in Misconduct and any subsequent period.  For purposes of calculating the Retirement Benefit of any Participant who engaged in Misconduct, the Participant’s Final Average Earnings and Years of Credited Service will exclude the period during which the Participant engaged in Misconduct and any subsequent period.
 
 
Page 13 

 
 
         8.5
Time and Form of Distributions.  Subject to the provisions of Section 8.6, a Participant will become entitled to a distribution of vested Retirement Benefits, in the form determined by this section, upon the earlier of:  (i) Retirement; (ii) Disability; or (iii) solely with respect to a Participant who vests after becoming Disabled, the earlier of death or attainment of age 65.
 
 
      8.5.1
Election of Alternative Forms of Distribution.  A Participant may elect to receive the Retirement Benefit in one of the following forms, each of which shall be actuarially equivalent:  (i) monthly installments over a 15-year period, (ii) a monthly life annuity, (iii) a lump sum payment; or (iv) a combination of a lump sum and either (i) or (ii).  Actuarially equivalence will be calculated using actuarial factors adopted by the Administrator from time to time.  Effective as of December 31, 2008, Participant elections regarding the form of distribution are irrevocable and will remain in effect until the Retirement Benefits are paid in full unless a Participant elects to change the time and form of payment in accordance with Section 8.7.< /font>
 
 
      8.5.2
Default Form of Payment.  If a Participant fails to elect a form of payment with respect to the Participant’s Retirement Benefit before December 31, 2008, the Retirement Benefit will be paid in the form of monthly installments over a 15-year period unless the Participant elects to change the time and form of payment in accordance with Section 8.7.
 
         8.6  Additional Distribution Rules.
 
 
      8.6.1
Commencement of Distributions.  Distributions on account of a Distribution Event other than Disability will commence between the date of the Distribution Event and the end of the year in which the Distribution Event occurs.  If a Distribution Event other than Disability occurs on or after October 1 of a Plan Year, the distribution may, to the extent permitted by Section 409A, commence after the Distribution Event and on or before the 15th day of the third calendar month following the Distribution Event, even if after the end of the year during which the Distribution Event occurs; provided, however, the Participant will not be permitted, directly or indirectly, to designate the taxable year of the distribution.  Any distribution that complies with this section shall be deemed for all purposes to comply with the Plan requirements regarding the time and form of distributions.
 
 
      8.6.2
Distributions to Specified Employees.  Notwithstanding anything to the contrary in this Plan, if a Participant becomes entitled to a distribution on account of a Retirement and is a Specified Employee on the date of the Retirement, distributions shall not commence until the earlier of:  (i) the expiration of the six-month period beginning on the date of Participant’s Retirement, or (ii) the date of the Participant’s death.  Payments to which a Specified Employee would otherwise be entitled during this six-month period shall be accumulated and paid, together with earnings (calculated using the interest rate adopted by the Administrator for determining actuarial equivalence) that have accrued during this six-month delay, during the sev enth month following the date of the Participant’s Retirement, or, if earlier, the date of the Participant’s death.
 
 
Page 14 

 
 
 
      8.6.3
Disability.  Unless subsequently changed in accordance with the Plan, distributions on account of Disability will commence on the earlier of the Participant’s 65th birthday or the second anniversary of the Disability.
 
 
      8.6.4
Annuity Payments and Installments.  If a Participant elects to receive all or a portion of the distributions in monthly installments, that portion to be paid in installments will be paid in substantially equal monthly installments in consecutive months over a 15-year period.  If a Participant elects to receive all or a portion of the distributions in the form of a life annuity, that portion to be paid as a life annuity will be paid in monthly installments in consecutive months for the remainder of the Participant’s life, in the case of a unmarried Participant, and in the case of a married Participant over the lives of the Participant and the Participant’s Eligible Surviving Spouse.  Each monthly installment or life annuity payment wi ll be paid during the Plan Year in which it is due, commencing as described in Section 8.6.1.  During the Plan Year in which distributions commence, the Participant will receive one installment or life annuity payment for each calendar month beginning after the date of the Distribution Event.  If the Participant has elected to be paid in installments, during the distribution period the portion of the Participant’s Account to be paid in installments will be credited with interest compounded monthly at the interest rate used by the Administrator to determine actuarial equivalence.  Any distribution that complies with this section shall be deemed for all purposes to comply with the Plan requirements regarding the time and form of distributions.
 
 
      8.6.5
Death After Commencement of Benefits.  Upon the death of a Participant after distributions of the Participant’s Retirement Benefit have commenced, the remainder of the Participant’s Retirement Benefit will continue to be distributed to the Participant’s Beneficiary at the same time and in the same form as the benefit would have been distributed to the Participant had the Participant survived, except to the extent that the Participant had elected a life annuity: (i) if the Participant has an Eligible Surviving Spouse on the date of death, the surviving spouse will receive 60% of the Participant’s life annuity benefit for the remainder of the spouse’s life and (ii) if the Participant does not have an Eligible Surviving Spouse, the annuit y will cease as of the first day of the month following the month during which the Participant died.
 
 
      8.6.6
Effect of Change of Control.  With respect to any Participant whose Retirement Benefit distributions have commenced, or would commence, upon a Separation from Service, if (a) the Participant’s Separation from Service occurs within two years following a Change in Control or (b) a Change in Control occurs within six months after the Participant’s Separation from Service, then notwithstanding the Participant’s elections regarding distributions upon a Separation from Service, the Participant shall receive a distribution of the Participant’s entire remaining vested Retirement Benefit in a single lump sum upon the later of the Separation from Service or the Change in Control, whether or not distributions have already commenced.  Any Reti rement Benefit that does not become payable in a lump sum in accordance with this section will vest, if at all, in accordance with Section 8.2, will become payable in accordance with Section 8.5, and will otherwise remain subject to the provisions of Article 8.
 
 
Page 15 

 

         8.7  Subsequent Changes in Time and Form of Payment.
 
A Participant may, in accordance with rules, procedures and forms specified from time to time by the Administrator, elect to change the form in which the Participant’s Retirement Benefit is distributed, provided that:  (i) the Participant elects at least twelve (12) months prior to the date on which payments are otherwise scheduled to commence; (ii) the new election does not take effect for at least twelve (12) months; and (iii) with respect to changes applicable to distributions upon Retirement or, solely with respect to a Participant who vests after becoming Disabled, distributions upon attaining age 65, distributions must be deferred for at least five years from the date the distributions would otherwise have been paid, or in the case of installment payments or life annuity payments, five years from the date the ins tallments or life annuity payments were scheduled to commence.  Any such election shall be irrevocable on the date it is filed with the Administrator unless subsequently changed pursuant to this section.  For purposes of this section, distributions are considered to commence on the date of the Distribution Event.
 
         8.8  FICA and Other Taxes.
 
At the time of a Participant’s Distribution Event, the Participant’s Employer(s) shall, in a manner determined by the Employer(s), calculate the FICA and other required employment or state, local, and foreign taxes due on the lump sum present value, calculated using the factors adopted by the Administrator for determining actuarial equivalence, of the Participant’s Retirement Benefit and shall reduce the Participant’s Retirement Benefit by the amount of any such taxes payable by the Participant.  The amount of the Participant’s Retirement Benefit remaining after reduction for any taxes shall be payable in accordance with Sections 8.6 and 8.7.
 
ARTICLE 9
 
Payment Acceleration and Delay
 
9.1  
Permitted Accelerations of Payment.
 
Except as otherwise provided herein or permitted by Section 409A, the Plan prohibits the acceleration of the time or schedule of any payment due under the Plan.
 
9.1.1  
Distribution in the Event of Taxation.  If, for any reason, all or any portion of any benefit provided by the Plan becomes taxable to a Participant because of a violation of Section 409A prior to receipt, the Participant may file a written request with the Administrator for a distribution of that portion of the Plan benefit that has become taxable.  Upon the grant of such a request, which grant shall not be unreasonably withheld, the Participant shall receive a distribution equal to the taxable portion of the Plan benefit.  If the request is granted, the tax liability distribution shall be paid between the date on which the Participant’s request is approved and the end of the Pl an Year during which the approval occurred, or if later, the 15th day of the third calendar month following the date on which the Participant’s request is approved.
 
 
Page 16 

 
 
9.1.2  
Compliance with Ethics Laws or Conflicts of Interests Laws.  The Administrator is authorized, in its sole discretion, to accelerate the time or schedule of a payment to the extent necessary to avoid the violation of any applicable federal, state, local, or foreign ethics law or conflicts of interest law as provided in Section 409A.
 
9.1.3  
Small Accounts.  The Administrator may, in its sole discretion, distribute in a single lump sum the aggregate amounts of Deferrals or Elective Deferrals or both credited to the Participant’s Account, along with any related earnings, provided: (i) the distribution results in the payment of the Participant’s entire interest in the Account and all Aggregated Plans, and (ii) the total payment does not exceed the applicable dollar limit under Code section 402(g)(1)(B).  The Administrator shall notify the Participant in writing if the Administrator exercises its discretion pursuant to this Section.
 
9.1.4  
Settlement of a Bona Fide Dispute.  The Administrator may, in its sole discretion, accelerate the time or schedule of a distribution as part of a settlement of a bona fide dispute between the Participant and the Employer over the Participant’s right to a distribution provided that the distribution relates only to the deferred compensation in dispute and the Employer is not experiencing a downturn in financial health.
 
9.1.5  
Settlement of Debt.  The Administrator may, in its sole discretion, accelerate the time or schedule of a payment to satisfy an ordinary debt owed by the Participant to the Employer at the time the debt becomes due as provided in Section 409A.
 
9.2  
Permissible Payment Delays.
 
Notwithstanding anything in the Plan to the contrary, to the extent permitted by Section 409A, the Administrator may, in its sole discretion, delay a distribution to a Participant:
 
9.2.1  
If the distribution would jeopardize the Employer’s ability to continue as a going concern, provided that the delayed amount is distributed in the first calendar year in which the payment would not have such effect.
 
9.2.2  
If the Company reasonably anticipates that its deduction with respect to a distribution, if paid as scheduled, could be limited or barred by the application of Code section 162(m), provided the delayed amount is distributed in the first calendar year in which the Company reasonably anticipates that the deduction would not be limited or barred by the application of Code section 162(m).
 
9.2.3  
If the distribution would violate Federal securities or other applicable laws, provided that the delayed amount is distributed at the earliest date at which the Administrator reasonably anticipates that the distribution will not cause such violation.
 
 
 Page 17 

 
 
9.2.4  
If calculation of the distribution is not administratively practicable due to events beyond the control of the Participant, provided that the delayed amount is distributed in the first calendar year in which the calculation of the distribution is administratively practicable.
 
9.3  
Suspension Not Allowed.
 
If a Participant whose distributions have commenced becomes eligible again to defer compensation as a Participant in any plan subject to Section 409A maintained by a Related Company, distribution of the Participant’s Retirement Benefit or Account may not be suspended.
 
ARTICLE 10
 
Beneficiary Designation
 
10.1  
Beneficiary.
 
Each Participant shall have the right, in accordance with procedures established from time to time by the Administrator, to designate a Beneficiary(ies) (both primary as well as contingent) to whom Plan benefits shall, if permitted by the Plan, be paid if a Participant dies prior to complete distribution of benefits.  Each Beneficiary designation shall be in a written form prescribed by the Administrator, and will be effective only when filed with the Administrator during the Participant’s lifetime.  Any Beneficiary designation may be changed by a Participant without the consent of the previously named Beneficiary by filing a new Beneficiary designation with the Administrator.  The most recent Beneficiary designation received by the Administrator shall control the payment of all benefits under the P lan in the event of the Participant’s death.
 
10.2  
No Beneficiary Designation.
 
In the absence of an effective Beneficiary designation, or if all designated Beneficiaries predecease the Participant or die prior to the complete distribution of the Participant’s benefits, benefits shall be paid in the following order of precedence: (a) the Participant’s surviving spouse; (b) the Participant’s children (including adopted children), per stirpes; or (c) the Participant’s estate.
 

 
ARTICLE 11
 
Claims Procedures
 
11.1  
Presentation of Claim.
 
Any Participant or Beneficiary of a deceased Participant (such Participant or Beneficiary being referred to below as a “Claimant”) may file with the Administrator a written claim for a determination with respect to Plan benefits.  The claim must state with particularity the determination desired by the Claimant.
 
11.2  
Notification of Decision.
 
The Administrator shall consider a Claimant’s claim, and, except as provided below, within 90 days after the claim is received, shall notify the Claimant in writing:
 
 
Paage 18 

 
 
11.2.1  
That the claim has been allowed in full; or
 
11.2.2  
That the claim has been denied, in whole or in part, and such notice must set forth in a manner calculated to be understood by the Claimant:
 
(a)  
The specific reason(s) for the denial of the claim, or any part of it;
 
(b)  
Specific reference(s) to pertinent provisions of the Plan upon which such denial was based;
 
(c)  
A description of any additional material or information necessary for the Claimant to perfect the claim, and an explanation of why such material or information is necessary; and
 
(d)  
An explanation of the claim review procedures and time limits, including a statement of the Claimant’s right to initiate a civil action pursuant to section 502(a) of ERISA following an adverse determination upon review.
 
11.2.3  
If the Administrator determines that an extension of time for processing is required, written notice of the extension shall be furnished to the Claimant prior to termination of the original 90-day period.  In no event shall such extension exceed 90 days from the end of such initial period.
 
11.2.4  
In the case of a claim for disability benefits, the Administrator shall notify the Claimant, in accordance with subsection 11.2.2 above, within 45 days after the claim is received.  The notification shall advise the Claimant whether the Administrator’s denial relied upon any specific rule, guideline, protocol or scientific or clinical judgment.
 
11.2.5  
In the case of a claim for disability benefits, if the Administrator determines that an extension of time for processing is required due to matters beyond the control of the Plan, written notice of the extension shall be furnished to the Claimant prior to termination of the original 45-day period.  Such extension shall not exceed 30 days from the end of the initial period.  If, prior to the end of the first 30-day extension period, the Administrator determines that, due to matters beyond the control of the Plan, an additional extension of time for processing is required, written notice of a second 30-day extension shall be furnished to the Claimant prior to termination of the first 30-day extension.
 
11.3  
Review of a Denied Claim.
 
Within 90 days after receiving a notice from the Administrator that a claim has been denied, in whole or in part, a Claimant (or the Claimant’s duly authorized representative) may file a written request for a review of the denial of the claim and of pertinent documents.  The Claimant (or the Claimant’s duly authorized representative):
 
11.3.1  
May request reasonable access to, and copies of, all documents, records, and other information relevant to the claim, which shall be provided to Claimant free of charge; and
 
 
Page 19 

 
 
11.3.2  
May submit written comments or other documents.
 
11.4  
Decision on Review.
 
The Administrator shall review all comments or other documents submitted by the Claimant relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.  The Administrator shall render its decision on review promptly, and not later than 60 days after the filing of a written request for review of the denial (or, if other special circumstances require additional time and written notice of such extension and circumstances is given to the Claimant within the initial 60-day period).  The Administrator shall notify the Claimant, in language calculated to be understood by the Claimant:
 
11.4.1  
That the claim has been allowed in full; or
 
11.4.2  
That the claim has been denied, in whole or in part, and such notice must set forth:
 
(a)  
Specific reasons for the decision;
 
(b)  
Specific reference(s) to the pertinent Plan provisions upon which the decision was based;
 
(c)  
A statement that Claimant is entitled to reasonable access to, and copies of, all documents, records or other information relevant to the claim upon request and free of charge;
 
(d)  
A statement regarding the Claimant’s right to initiate an action pursuant to section 502(a) of ERISA; and
 
(e)  
Such other matters as the Administrator deems relevant.
 
11.4.3  
In the case of a claim for disability benefits, the notice shall set forth:
 
(a)  
Whether the Administrator’s denial relied upon any specific rule, guideline, protocol or scientific or clinical judgment; and
 
(b)  
The following statement: “You and your Plan may have other voluntary alternative dispute resolution options, such as mediation.  One way to find out what may be available is to contact your local U.S. Department of Labor Office and your State insurance regulatory agency.”
 
11.5  
Other Remedies.
 
A Claimant’s compliance with the foregoing procedures is a mandatory prerequisite to a Claimant’s right to pursue any other remedy with respect to any claim relating to this Plan.
 
 
Page 20 

 

ARTICLE 12
 
Amendment or Termination
 
The Company hereby reserves the right to amend, modify, or terminate any one or more of the 409A Plans, at any time by action of the Board, with or without prior notice.  No amendment or termination shall reduce any Participant’s Account or Retirement Benefit without the written consent of the affected Participant.  Notwithstanding anything herein to the contrary, to the extent consistent with Section 409A, the Board may terminate the Plan and distribute to each Participant the Participant’s Account and the Participant’s Retirement Benefit, if any, in a lump sum; provided that all distributions (i) commence no earlier than the date that is twelve (12) months following the termination date (or any earlier date that would comply with Section 409A) and (ii) are completed by the date that is twenty-four (24) months following the termination date (or any later date that would comply with Section 409A).  In addition, payments may be accelerated upon termination of any 409A Plan only if, to the extent required under Section 409A, (i) the Company terminates all Aggregated Plans, and (ii) for three years following the date of termination of the 409A Plan, the Company does not adopt any new arrangement that would have been an Aggregated Plan of the terminated 409A Plan.
 
ARTICLE 13
 
Miscellaneous Provisions
 
13.1  
Unsecured General Creditor.
 
Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims in any property or assets of an Employer.  An Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future.
 
13.2  
Employer’s Liability.
 
An Employer’s liability for benefits shall be defined only by the Plan.  An Employer shall have no obligation to a Participant except as expressly provided in the Plan.
 
13.3  
Nonassignability.
 
Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are expressly declared to be, unassignable and non-transferable.  No part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment, garnishment or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement or otherwise .
 
13.4  
No Right to Employment.
 
Nothing contained in this Plan or any documents relating to the Plan shall: (a) confer on a Participant any right to continue in the employ of a Related Company, (b) constitute any contract or agreement of employment, (c) interfere with the right of a Related Company to terminate the Participant’s employment at any time, with or without cause.
 
 
Page 21 

 
 
13.5  
Incompetency.
 
If the Administrator determines that a distribution under this Plan is to be paid to a minor, a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Administrator may direct such distribution to be paid to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable person.  The Administrator may require proof of majority, competence, capacity, guardianship, or status as a legal representative as it may deem appropriate prior to distribution of a payment.  Any distribution shall be a payment for the account of the Participant and the Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability for such payment amount.
 
13.6  
Tax Withholding.
 
To the extent required by the law in effect at the time of any distribution, the Participant’s Employer shall withhold from any payments to a Participant hereunder any taxes required to be withheld by the federal or any state or local government, in amounts and in a manner to be determined in the sole discretion of the Employer(s).
 
13.7  
Furnishing Information.
 
A Participant or his Beneficiary will cooperate with the Administrator by furnishing any and all information requested by the Administrator and take such other actions as may be requested in order to facilitate the administration of the Plan and the distributions hereunder, including but not limited to taking such physical examinations as the Administrator may deem necessary.
 
13.8  
Notice.
 
Any notice or filing required or permitted under the Plan shall be sufficient if in writing and if (i) hand-delivered or sent by telecopy, (ii) sent by registered or certified mail, or (iii) sent by nationally-recognized overnight courier.  Such notice shall be deemed given as of  (i) the date of delivery if hand-delivered or sent by telecopy, (ii) as of the date shown on the postmark on the receipt for registration or certification, if delivery is by mail, or (iii) on the first business day after dispatch, if sent by nationally-recognized overnight courier.
 
13.9  
Gender and Number.
 
Except when otherwise indicated by context, words in the masculine gender shall include the feminine and neuter genders, the singular shall include the plural, and the plural shall include the singular.
 
13.10 
Headings.
 
The headings contained in this Plan are for convenience only and will not control or affect the meaning or construction of any of the terms or provisions of this Plan.
 
13.11  
Applicable Law and Construction.
 
The Plan shall be governed by, construed and administered in accordance with the applicable provisions of ERISA, and any other applicable Federal law, including Section 409A, and to the extent not preempted by Federal law, this Plan shall be governed by, construed and administered in accordance with the laws of the State of Minnesota, other than its laws respecting choice of law.
 
13.12  
Invalid or Unenforceable Provisions.
 
If any provision of this Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof and the Administrator may elect in its sole discretion to construe such invalid or unenforceable provisions in a manner that conforms to applicable law or as if such provisions, to the extent invalid or unenforceable, had not been included.
 
 
Page 22 

 
 
13.13  
Successors.
 
This Plan shall bind any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, in the same manner and to the same extent that the Company would be obligated under this Plan if no succession had taken place.  In the case of any transaction in which a successor would not by the foregoing provision or by operation of law be bound by this Plan, the Company shall require such successor expressly and unconditionally to assume and agree to perform the obligations of the Company and each Employer under this Plan, in the same manner and to the same extent that the Company and each Employer would be required to perform if no such succession had taken place.
 


 
Page 23 

 


APPENDIX A
 
162(m) Deferrals” means the portion of a Participant’s Annual Incentive Award for a Plan Year that the Company reasonably anticipates is not deductible by the application of Code section 162(m).
 
409A Plan” means one of the separate non-qualified deferred compensation arrangements described in Section 2.1.
 
Account” means the Company’s bookkeeping entry representing a Participant’s Deferrals, and such other accounts or sub-accounts as the Administrator deems necessary or appropriate.
 
Administrator” means the Employee Benefit Plans Committee appointed by the Board or delegates of the Employee Benefit Plans Committee.
 
Aggregated Plans” means, with respect to any 409A Plan, that plan and all other non-qualified deferred compensation plans which must be aggregated with that plan in accordance with the plan aggregation rules of Section 409A.
 
Annual Incentive Award” means the annual award received by a Participant under the ALLETE Executive Annual Incentive Plan or any predecessor or successor plan.
 
Basic Compensation” shall have the meaning prescribed in Retirement Plan A, but shall be calculated without regard to the limitation on compensation imposed by Code section 401(a)(17).
 
Beneficiary” means one or more persons, trusts, estates or other entities, designated in accordance this Plan, that are entitled to receive Plan benefits upon the death of a Participant.
 
Board” means the Board of Directors of the Company.
 
Bonus” means any incentive compensation, including Annual Incentive Awards, that is payable to the Participant in addition to the Participant’s Salary.
 
Change in Control” means the earliest of:
 
(i)  
the date any one Person, or more than one Person acting as a group (as the term “group” is used in Treasury Regulations section 1.409A-3(i)(5)(v)(B)), acquires ownership of stock of the Company that, together with stock previously held by the acquirer, constitutes more than fifty (50%) percent of the total fair market value or total voting power of Company stock.  If any one Person, or more than one Person acting as a group, is considered to own more than fifty (50%) percent of the total fair market value or total voting power of Company stock, the acquisition of additional stock by the same Person or Persons acting as a group does not cause a Change in Control.  An increase in the percentage of stock owned by any one Person, or Persons acting as a group, as a result of a transaction in which Company acquires its stock in exchange for property, is treated as an acquisition of stock;
 
 
Page 24 

 
 
(ii)  
(b) the date any one Person, or more than one Person acting as a group (as the term “group” is used in Treasury Regulations section 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by that Person or Persons) ownership of Company stock possessing at least thirty (30%) percent of the total voting power of Company stock;
 
(iii)  
(c) the date a majority of the members of the Company’s board of directors is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the board of directors prior to the date of appointment or election; or
 
(iv)  
(d) the date any one Person, or more than one Person acting as a group (as the term “group” is used in Treasury Regulations section 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by that Person or Persons) assets from the Company that have a total gross fair market value equal to at least forty (40%) percent of the total gross fair market value of all the Company’s assets immediately prior to the acquisition or acquisitions.  For this purpose, “gross fair market value” means the value of the corporation’s assets, or the value of the assets being disposed of, without regard to any liabilities associated with these assets.
 
In determining whether a Change in Control occurs, the attribution rules of Code section 318 apply to determine stock ownership.  The stock underlying a vested option is treated as owned by the individual who holds the vested option, and the stock underlying an unvested option is not treated as owned by the individual who holds the unvested option.  The term “Person” used in this definition means any individual, corporation (including any non-profit corporation), general, limited or limited liability partnership, limited liability company, joint venture, estate, trust, firm, association, organization or other entity or any governmental or quasi-governmental authority, organization, agency or body.
 
Claimant” shall have the meaning set forth in Section 11.1.
 
Code” means the Internal Revenue Code of 1986, as it may be amended from time to time.
 
Company” means ALLETE, Inc., a Minnesota Corporation, and any successor to all, or substantially all, of the Company’s assets or business.
 
Credited Service” shall have the meaning prescribed in the Retirement Plan A.
 
 
Page 25 

 
 
Deferrals” means Elective Deferrals and Non-Elective Deferrals.
 
Disability” or “Disabled” when used with an initial capital letter, means a physical or mental condition in which the Participant is:
 
(i)  
unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months;
 
(ii)  
by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under the Employer’s accident and health plan;
 
(iii)  
determined to be totally disabled by the Social Security Administration; or
 
(iv)  
disabled pursuant to an Employer-sponsored disability insurance arrangement provided that the definition of disability applied under such disability insurance program complies with the foregoing definition of Disability.
 
When the term “disability” (without an initial capital letter) is used in the Plan, it shall have the meaning prescribed in the definition of “Separation from Service.”
 
Distribution Event” means, with respect to Article 6, a Specified Year, a Separation from Service, death, Disability or the Administrator’s determination regarding the occurrence of an Unforeseeable Emergency and, with respect to Article 8, Retirement, Disability or solely with respect to a Participant who vests after becoming Disabled, the earlier of death or attainment of age 65.
 
Elective Deferrals” means any portion of a Participant’s Salary, Bonus, Severance Pay, Annual Make-up Award or Other Award that a Participant irrevocably elects to defer.
 
Eligible Employee” means an Employee in management salary grades SA-SM, who has been notified in writing by the Administrator of eligibility to participate in the Plan.
 
Eligible Surviving Spouse” shall have the meaning prescribed in Retirement Plan A.
 
Employee” means a person who is a common-law employee of any Related Company.
 
Employer(s)” means the Company and any Related Company (now in existence or hereafter formed or acquired) that have been selected by the Administrator to participate in the Plan.
 
 
Page 26 

 
 
ERISA” means the Employee Retirement Income Security Act of 1974, as it may be amended from time to time.
 
IRS” means the Internal Revenue Service.
 
Misconduct” means the occurrence of either or both of the following, as determined in its sole discretion by either the Executive Compensation Committee of the Company’s Board of Directors with respect to Section 16 Officers of the Company, or the Administrator with respect to any other Participant:

(a)           an act or omission by the Participant involving dishonesty in connection with his or her responsibilities as an employee of the Company; or
 
(b)           the Participant’s conviction of, or entry of a plea of nolo contendere to, any felony or a misdemeanor involving moral turpitude, provided that a misdemeanor motor vehicle violation will not constitute a crime of moral turpitude unless it involves driving while impaired within the scope of employment or another serious driving offense committed within the scope of employment.
 
For purposes of clarifying the foregoing definition, Misconduct can occur regardless of whether the Company discovers the Misconduct before or after the Participant’s Separation from Service and regardless of whether the Participant has a Separation from Service on account of the Misconduct.
 
Non-Elective Deferrals” means 162(m) Deferrals and the Annual Make-up Award credited to the Account of any Participant whose Salary exceeds the Code section 401(a)(17) limit.
 
Other Award” means an award, other than an Annual Incentive Award or Severance Pay, that a Participant may defer at the Administrator’s discretion.
 
Participant” means any Eligible Employee (i) who has elected to defer amounts under the Plan, (ii) who is eligible to receive a Retirement Benefit or (iii) whose compensation, or a portion thereof, was deferred as a Non-Elective Deferral.
 
Plan” means SERP II.
 
Plan Year” means a period beginning on January 1 of each calendar year and continuing through December 31 of such calendar year.
 
Related Company” means the Company and all persons with whom the Company would be considered a single employer under Code section 414(b) (employees of controlled group of corporations), and all persons with whom such person would be considered a single employer under Code section 414(c) (employees of partnerships, proprietorships, etc., under common control); provided that in applying Code sections 1563(a)(1), (2), and (3) for purposes of determining a controlled group of corporations under Code section 414(b), the language “at least 50 percent” is used instead of “at least 80 percent” each place it appears in Code sections 1563(a)(1), (2), and (3), and in applying Treasury Regulations section 1.414(c)-2 for purposes of determining tr ades or businesses (whether or not incorporated) that are under common control for purposes of Code section 414(c), “at least 50 percent” is used instead of “at least 80 percent” each place it appears in Treasury Regulations section 1.414(c)-2.
 
 
Page 27 

 
 
Retirement” means Separation from Service, for reasons other than death, on or after attaining both 50 years of age and 10 years of Vesting Service.
 
Retirement Benefit” means the benefit payable pursuant to Article 8.
 
Retirement Plans” mean the Minnesota Power and Affiliated Companies Retirement Plan A and Minnesota Power and Affiliated Companies Retirement Plan B, as amended from time to time.
 
Retirement Savings and Stock Ownership Plan” or “RSOP” means the Minnesota Power and Affiliated Companies Retirement Savings and Stock Ownership Plan, as amended from time to time.
 
Salary” means the Participant’s earnings during a calendar year, before any reduction pursuant to Code sections 125, 132(f)(4), or 401(k) and this Plan.  It does not include overtime compensation, if any, Bonuses, Annual Incentive Awards and Other Awards, expense reimbursements, allowances, commission payments, employer contributions or awards under this Plan or other employee benefit plans, imputed income (whether such imputed income is from vehicle use, life insurance premiums, or any other source) payments made pursuant to the Results Sharing Program, payment of stock options and performance shares under the Long Term Incentive Compensation Plan, and any other payments of a similar nature.  In the case of a Participant who is emp loyed jointly by the Company and an affiliated company (as defined in the RSOP), Salary as defined herein shall include amounts received from all such companies.
 
Section 409A” means both section 409A of the Code and Treasury Regulations section 1.409A-1 et seq., as they both may be amended from time to time, and other guidance issued by the Treasury Department and Internal Revenue Service thereunder.
 
Separation from Service” means that the Participant terminates employment within the meaning of Treasury Regulations section 1.409A-1(h) and other applicable guidance with all Related Companies.  Whether a termination of employment has occurred is determined under the facts and circumstances, and a termination of employment shall occur if all Related Companies and the Participant reasonably anticipate that no further services shall be performed after a certain date or that the level of bona fide services the Participant shall perform after such date (as an employee or an independent contractor) shall permanently decrease to no more than 20 percent of the average level of bona fide services performed (whether as an employee or an independent contrac tor) over the immediately preceding 36-month period (or the full period of services to the Related Companies if the Participant has been providing services to the Related Companies less than 36 months).  A Participant shall not be considered to separate from service during a bona fide leave of absence for less than six (6) months or longer if the Participant retains a right to reemployment with any Related Company by contract or statute.  With respect to disability leave, a Participant shall not be considered to separate from service for 29 months unless the Participant otherwise terminates employment or is terminated by all Related Companies.  For purposes of determining whether a Separation from Service has occurred on account of a disability, a Participant shall be disabled if the Participant is suffering from any medically determinable physical or mental impairment resulting in the Participant’s inability to perform the duties of his position or any substantially simil ar position, if such impairment can be expected to result in death or can be expected to last for a continuous period of 6 months.
 
 
Page 28 

 
 
SERP II” means the ALLETE and Affiliated Companies Supplemental Executive Retirement Plan II, as amended from time to time.
 
Severance Pay” means the cash payment(s) to a Participant payable in connection with his Separation from Service in accordance with the terms of a severance arrangement that is the subject of bona fide, arm’s length negotiations between a Related Company and the Participant at the time of the Separation from Service.
 
Specified Year” means a calendar year during which a Participant has elected to receive a distribution of Elective Deferrals.
 
Specified Employee” means an Employee who is subject to the six-month delay rule described in Code section 409A(2)(B)(i).  The Board shall adopt guidelines for identifying Specified Employees in a manner consistent with Section 409A, and may amend the guidelines from time to time as permitted by Section 409A.
 
Unforeseeable Emergency” means an unanticipated emergency that is caused by an event beyond the control of the Participant that would result in severe financial hardship to the Participant resulting from (i) an illness or accident of the Participant or the Participant’s spouse, the Participant’s beneficiary, or the Participant’s dependent (as defined in Code section 152, without regard to Code sections 152(b)(1), (b)(2), and (d)(1)(B)), (ii) a loss of the Participant’s property due to casualty, or (iii) such other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, all as determined in the sole discretion of the Administrator.
 
Valuation Date” means each day that the U.S. stock markets are open or such other dates as may be set by the Administrator from time to time.
 
Vesting Service” shall have the meaning prescribed in the Retirement Plan A.  Participants will continue to receive credit for Vesting Service after October 1, 2006.  A Disabled Participant will receive credit for Vesting Service on account of any period after the commencement of the Disability during which the Participant is characterized as an active employee on the Related Company’s employment records.
 

 
Page 29 

 

IN WITNESS WHEREOF, ALLETE, Inc. has caused these presents to be signed by its duly authorized officers, effective as of January 1, 2011.
 

 

 
ALLETE, Inc.
 

 
By:  /s/ Alan R. Hodnik___________                                                              
 
                                                Alan R. Hodnik
 
 
 Its:
  President and Chief Executive Officer
 

 
ATTEST
 
By:  /s/ Deborah A. Amberg________                                                                         
 
Deborah A. Amberg
 
Its:  Senior Vice President, General Counsel and Secretary
 

 

 


 
 

 

EX-10.M2 6 exhibit_10m2.htm ALLETE EXECUTIVE LONG-TERM INCENTIVE COMPENSATION PLAN AS AMENDED exhibit_10m2.htm
Exhibit 10(m)2
 
 
 
AMENDMENT TO
ALLETE EXECUTIVE LONG-TERM INCENTIVE COMPENSATION PLAN

 
The ALLETE Executive Long-Term Incentive Compensation Plan, as amended and restated effective January 1, 2006 (the “Plan”), is amended as follows, effective January 1, 2011.

 
1.  
The following is added at the end Section 1.1:
 
         
Effective January 1, 2011, the Company hereby amends the Plan to incorporate any compensation recovery policy adopted by the Company, to explicitly prohibit re-pricing and cash 
              
buyouts of Options and SARs granted under the Plan unless approved by Company shareholders, and to provide that in connection with a Change in Control, so long as the successor assumes a Restricted Stock Grant, the restrictions will be deemed to have lapsed upon the Participant’s termination of employment by the company in connection with the Change in Control.
                                
2.  
A new Section 1.4 is added at the end of Article 1 to read as follows:
 
         
1.4          Compensation Recovery Policy. Effective January 1, 2011, all Grants are subject to the terms of any compensation recovery policy or policies established by the Company as 
              
such policy or policies may be amended from time to time (“Compensation Recovery Policy”). The Company hereby incorporates the terms of the Compensation Recovery Policy into the Plan.
                                
3.  
Section 5.3 is deleted in its entirety and replaced with the following:
 
         
5.3          Option Price.  The Option Price for each Option granted under the Plan shall be the Fair Market Value of a Share on the date of grant, or such higher price as the Committee may
              
determine.  Except in connection with a corporate transaction involving the Company (including, but not limited to, any stock dividend, stock split, recapitalization, reorganization, merger, spin-off or exchange of shares), the terms of an outstanding award may not be adjusted or amended to reduce the exercise price of any outstanding Option granted under the Plan without shareholder approval; nor may an outstanding award for Options granted under the Plan be cancelled, exchanged, bought out or surrendered in exchange for cash or another award or Options with an exercise price that is less than the exercise price of the original Option without shareholder approv al.
                                
4.  The following is added at the end Section 6.1:
 
         
Except in connection with a corporate transaction involving the Company (including, but not limited to, any stock dividend, stock split, recapitalization, reorganization, merger, spin-off
              
or exchange of shares), the terms of an outstanding award may not be adjusted or amended to reduce the exercise price of any outstanding SAR granted under the Plan without shareholder approval; nor may an outstanding award for SARs granted under the Plan be cancelled, exchanged, bought out or surrendered in exchange for cash or another award or SARs with an exercise price that is less than the exercise price of the original SAR without shareholder approval.
            
5.Paragraph (b) of Article 12 is deleted in its entirety and replaced with the following:
 
                         (b)
Any Period of Restriction and other restrictions imposed on Restricted Stock shall be deemed to have expired.  No Period of Restriction and other restrictions will be deemed to have expired, however, if and to the extent that the Restricted Stock Grant is, in connection with the Change in Control, fully assumed by the successor corporation or parent thereof; in such case, any Period of Restriction and other restrictions imposed on Restricted Stock shall be deemed to have expired upon a Participant’s termination of employment by the successor corporation for reasons other than cause within 18 months following the occurrence of the Change in Control.
 

 
IN WITNESS WHEREOF, and as evidence of the adoption of this amendment to the Plan, ALLETE, Inc. has caused this amendment to be executed by its duly authorized representative this __ day of ___________, 2011.
 

ALLETE, Inc.



By:  /s/ Alan R. Hodnik______________
Alan R. Hodnik
President and Chief Executive Officer
ATTEST:


By:  /s/ Deborah A. Amberg________
Deborah A. Amberg
Senior Vice President, General Counsel & Secretary

 
 

 

EX-10.M11 7 exhibit_10m11.htm ANNEX TO ALLETE EXECUTIVE LONG-TERM INCENTIVE COMPENSATION PLAN exhibit_10m11.htm
Exhibit 10(m)11
 
ANNEX A
TO
ALLETE
EXECUTIVE LONG-TERM INCENTIVE COMPENSATION PLAN
PERFORMANCE SHARE GRANT

The Grant of Performance Shares evidenced by the Grant to which this is annexed is subject to the following additional terms and conditions:

1.           Dividend Equivalents.  The Participant shall receive Dividend Equivalents with respect to the number of Performance Shares subject to the Grant.  Dividend Equivalents shall be calculated and credited to the Participant at the end of the Performance Period.  The Dividend Equivalents shall be in the form of additional Performance Shares, which shall be added to the number of Performance Shares subject to the Grant, and which shall equal the number of Shares (including fractional Shares) that could be purchased on the dividend payment dates, based on the closing sale price as reported in the consolidated transaction reporting system on that date, with cash dividends that would have been paid on Performance Shares, if such Performance Shares were Shares.

2.           Satisfaction of Goals.  At the end of the Performance Period, the Executive Compensation Committee (the “Committee”) shall determine the extent to which the Performance Goals have been met.  The Participant will not be credited with any Performance Shares if the threshold level has not been met. Subject to the provisions of Section 4 hereof and to provisions in the Plan for change in control, percentages of the Performance Share grant shall be credited to the Participant as follows:  If the threshold level has been met, 50% of the Performance Shares (as increased by the Dividend Equivalents) shall be credited to the Pa rticipant.  If the target level has been met, 100% of the Performance Shares (as increased by the Dividend Equivalents) shall be credited to the Participant.  If the superior level has been met, 200% of the Performance Shares (as increased by the Dividend Equivalents) shall be credited to the Participant.  Straight line interpolation will be used to determine earned awards based on achievement of goals between the threshold, target and superior levels.

3.           Payment.  Subject to the provisions of subsection (d) hereof and to provisions in the Plan for change in control, Performance Shares as determined by the Committee according to Section 2 hereof shall be paid out 100% (as increased by the Dividend Equivalents) within two and one half months after the end of the Performance Period and after the Committee has determined the extent to which Performance Goals have been met.  Payment shall be made, after withholding Performance Shares equal in value to the Participant’s income tax obligation via a deposit of ALLETE common stock into an Invest Direct account. Performance Share awards shall n ot vest until paid.


4.           Payment Upon Death, Retirement or Disability; Forfeiture of Unvested Performance Shares Upon Demotion, Unsatisfactory Job Performance or Other Separation from Service.

4.1           If during a Performance Period the Participant (i) Retires, (ii) dies while employed by a Related Company, or (iii) becomes Disabled, the Participant (or the Participant’s beneficiary or estate) shall receive a payment of any Performance Shares (as increased by the Dividend Equivalents) after the end of the Performance Period, promptly after the Committee has determined the extent to which Performance Goals have been met.  The payment shall be prorated based upon the number of whole calendar months within the Performance Period which had elapsed as of the date of death, Retirement or Disability in relation to the number of calendar months in the full Performance Period. A whole month is counted in the calculation if the Participant was in the position a s of the 15th of the month.
 
 

 

4.2           If after the end of a Performance Period, but before any or all Performance Shares have been paid, as specified in Section 4.1 above, the Participant Retires, dies or becomes Disabled, the Participant (or the Participant’s beneficiary or estate) shall be entitled to a full payout of all Performance Shares (as increased by the Dividend Equivalents), which shall be paid out at the next scheduled performance share payment date.

4.3           If prior to payment of all Performance Shares, the Participant is demoted, or ALLETE or a Business Unit determines, in its sole discretion, that the Participant’s job performance is unsatisfactory, ALLETE reserves the right to cancel or amend the Participant’s grant relating to any unpaid Performance Shares, with the result that some portion or all of the Participant’s unpaid Performance Shares will be forfeited.

4.4           If the Participant has a Separation from Service for any reason other than those specified in subsection 4.1 above, all Performance Shares and related Dividend Equivalents to the extent not yet paid shall be forfeited on the date of such Separation from Service, except as otherwise provided by the Committee.

5.           Compensation Recovery Policy.  The Grant is subject to the terms of any compensation recovery policy or policies established by ALLETE as may be amended from time to time (“Compensation Recovery Policy”). ALLETE hereby incorporates into the Grant the terms of the Compensation Recovery Policy.

6.           Ratification of Actions.  By receiving the Grant or other benefit under the Plan, the Participant and each person claiming under or through Participant shall be conclusively deemed to have indicated the Participant’s acceptance and ratification of, and consent to, any action taken under the Plan or the Grant by ALLETE, the Board or the Committee.

7.           Notices.  Any notice hereunder to ALLETE shall be addressed to ALLETE, 30 West Superior Street, Duluth, Minnesota 55802, Attention:  Manager - Executive Compensation and Employee Benefits, Human Resources, and any notice hereunder to the Participant shall be directed to the Participant’s address as indicated by ALLETE’s records, subject to the right of either party to designate at any time hereafter in writing some other address.

8.           Governing Law and Severability.  To the extent not preempted by the Federal law, the Grant will be governed by and construed in accordance with the laws of the State of Minnesota, without regard to its conflicts of law provisions.  In the event any provision of the Grant shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Grant, and the Grant shall be construed and enforced as if the illegal or invalid provision had not been included.

9.           Definitions.  Capitalized terms not otherwise defined herein shall have the meanings given them in the Plan.  The following definitions apply to the Grant and this Annex A:
 
2

 

9.1           “Code” means the Internal Revenue Code of 1986, as it may be amended from time to time.
 
9.2           “Disability” or “Disabled” means a physical or mental condition in which the Participant is:
 
(a)  
unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months;
 
(b)  
by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under the Employer’s accident and health plan;
 
(c)  
determined to be totally disabled by the Social Security Administration; or
 
(d)  
disabled pursuant to an Employer-sponsored disability insurance arrangement provided that the definition of disability applied under such disability insurance program complies with the foregoing definition of Disability.
 
9.3           “Related Company” means ALLETE, Inc. and all persons with whom the ALLETE, Inc. would be considered a single employer under Code section 414(b) (employees of controlled group of corporations), and all persons with whom such person would be considered a single employer under Code section 414(c) (employees of partnerships, proprietorships, etc., under common control); provided that in applying Code sections 1563(a)(1), (2), and (3) for purposes of determining a controlled group of corporations under Code section 414(b), the language “at least 50 percent” is used instead of “at least 80 percent” each place it appears in Code sections 1563(a)(1), (2), and (3), and in applying Treasu ry Regulations section 1.414(c)-2 for purposes of determining trades or businesses (whether or not incorporated) that are under common control for purposes of Code section 414(c), “at least 50 percent” is used instead of “at least 80 percent” each place it appears in Treasury Regulations section 1.414(c)-2.

9.4           “Retirement” or “Retires” means Separation from Service, for reasons other than death or Disability, on or after attaining normal retirement age or early retirement age as defined in the most applicable qualified retirement plan sponsored by the Related Company that employed  the Participant immediately preceding the Separation from Service, without regard to whether the Participant is a participant in such plan, or if the employer Related Company does not sponsor such retirement plan, on or after attaining Normal Retirement Age or Early Retirement Age as defined in the Minnesota Power and Affiliated Companies Retirement Plan A, without regard to whether the Participant is a participant under the Minnesota Power and Affiliated Companies Retirement Plan A.

9.5           “Separation from Service” means that the Participant terminates employment within the meaning of Treasury Regulations section 1.409A-1(h) and other applicable guidance with all Related Companies.  Whether a termination of employment has occurred is determined under the facts and circumstances, and a termination of employment shall occur if all Related Companies and the Participant reasonably anticipate that no further services shall be performed after a certain date or that the level of bona fide services the Participant shall perform after such date (as an employee or an independent contractor) shall permanently decrease to no more than 20 perc ent of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the full period of services to the Related Companies if the Participant has been providing services to the Related Companies less than 36 months).  A Participant shall not be considered to separate from service during a bona fide leave of absence for less than six (6) months or longer if the Participant retains a right to reemployment with any Related Company by contract or statute.  With respect to disability leave, a Participant shall not be considered to separate from service for 29 months unless the Participant otherwise terminates employment or is terminated by all Related Companies.
 
3

 

 
 
EX-10.M12 8 exhibit_10m12.htm ANNEX TO ALLETE EXECUTIVE LONG-TERM INCENTIVE COMPENSATION PLAN RESTRICTED STOCK UNIT GRANT exhibit_10m12.htm
Exhibit 10(m)12
 
ANNEX A
TO
ALLETE
EXECUTIVE LONG-TERM INCENTIVE COMPENSATION PLAN
RESTRICTED STOCK UNIT GRANT

 
            The grant of restricted stock units (each , a “RSU”) under the ALLETE Executive Long-Term Incentive Compensation Plan (the “Plan”), evidenced by the Grant to which this is annexed, is subject to the following additional terms and conditions:

1.         Form and Timing of Payment.  Subject to the provisions hereof, each RSU will be paid in the form of one share of ALLETE common stock (each, a “Share”), plus accrued dividend equivalents, which shares will be deposited into an account for the Participant in the ALLETE Invest Direct plan.  Except as otherwise provided in sections 3 and 4, below, payment will be made during the period ending sixty days after the end of the vesting period; provided, however, the Participant will not be permitted, directly or indirectly, to designate the taxable year of the distribution.  Payment will be subject to withholding Shares equal in value to the Participant’s income tax obligation.

2.        Dividend Equivalents. The Participant will receive Dividend Equivalents in connection with the RSU’s granted.  Dividend Equivalents will be calculated and credited to the Participant at the time the underlying RSU’s are paid.  Dividend Equivalents shall be in the form of additional RSU’s, which shall be added to the number of RSU’s subject to the grant, and which shall equal the number of Shares (including fractional Shares) that could have been purchased on the dividend payment dates based on the closing price as reported in the consolidated transaction reporting system on that date with cash dividends that would have been paid on the RSU’s, if such RSU’s were Shares.

3.         Payment Upon Retirement, Death or Disability; Forfeiture Upon Other Termination of Employment or Unsatisfactory Job Performance.

3.1           Subject to Section 3.4 below, if during the vesting period the Participant (i) Retires, (ii) dies while employed by ALLETE or any Related Company, or (iii) becomes Disabled, a portion of the unvested RSU’s subject to the Grant will vest and be paid to the Participant (or the Participant’s beneficiary or estate)  during the period ending sixty days after such event; provided, however, the Participant will not be permitted, directly or indirectly, to designate the taxable year of the distribution. Except as otherwise provided in Section 4, Payment pursuant to this Section 3.1 shall be prorated, after giving effect to the accumulation of Dividend Equivalents, based on the number of whole calendar months within the vesting period that had elapsed as of the date of Retirement, death or Disability in relation to the number of calendar months in the vesting period. For purposes of this calculation, the Participant will be credited with a whole month if the Participant was employed on the 15th of the month.
 
 
 

 

3.2           Except as otherwise provided in Section 4, if during the vesting period or prior to payment of all RSU’s the Participant has a Separation from Service for any reason other than those specified in Section 3.1 above, all unvested or unpaid RSU’s subject to the Grant will be forfeited on the date of such Separation from Service.

3.3           If during the vesting period or prior to payment of all Shares the Participant is demoted, or if ALLETE determines, in its sole discretion, that the Participant’s job performance is unsatisfactory, ALLETE may cancel or amend the Participant’s grant relating to any unpaid RSU’s, resulting in the forfeiture of some portion or all of the Participant’s unpaid RSU’s.

3.4           Notwithstanding anything herein to the contrary, if the Participant becomes entitled to a payment of the RSU’s by reason of the Participant’s Retirement and if the Participant is a Specified Employee on the date of such Retirement, payment shall not be made until the earlier of: (i) the expiration of the six-month period beginning on the date of Participant’s Retirement, or (ii) the date of the Participant’s death.  The payment to which a Specified Employee would otherwise be entitled during this six-month period shall be paid, together with dividend equivalents that have accrued during this six-month delay, during the seventh month following the date of the Participant’s Retirement, or, if earlier, the date of the ParticipantR 17;s death.

4.         Change in Control.  Upon a Change in Control, unless the Committee provides otherwise prior to the Change in Control, outstanding unvested RSU’s shall be prorated (as described below) and such prorated RSU’s shall immediately vest and be payable to the Participant during the period ending sixty days after the Change in Control.  The RSU’s will not be subject to proration and immediately vest, however, if and to the extent that the Grant is, in connection with the Change in Control, fully assumed by the successor corporation or parent thereof; in such case, the RSU’s shall be prorated and immediately v est upon a Participant’s termination of employment by the successor corporation for reasons other than cause within 18 months following the Change in Control and be payable to the Participant during the period ending sixty days after the termination of employment.  Any payment on account of or in connection with a Change in Control will be prorated, after giving effect to the accumulation of Dividend Equivalents, based on the number of whole calendar months within the three-year vesting period that had elapsed as of the date of the Change in Control or termination of employment, as applicable, in relation to the number of calendar months in the three-year vesting period. For purposes of this calculation, the Participant will be credited with a whole month if the Participant was employed on the 15th of the month.  In no event will the Participant be permitted, directly or indirectly, to designate the taxab le year of the distribution on account of or in connection with a Change in Control.
 
5.         Compensation Recovery Policy.  The Grant is subject to the terms of any compensation recovery policy or policies established by ALLETE as may be amended from time to time (“Compensation Recovery Policy”). ALLETE hereby incorporates into the Grant the terms of the Compensation Recovery Policy.
 
6.         Section 409A Compliance.  To the extent that any provision of the Grant would cause a conflict with the requirements of Section 409A or would cause the administration of the Grant to fail to satisfy Section 409A, such provision shall be deemed null and void to the extent permitted by applicable law.  Nothing herein shall be construed as a guarantee of any particular tax treatment.
 
 
2

 
 
7.          Ratification of Actions.  By receiving the Grant or other benefit under the Plan, the Participant and each person claiming under or through Participant shall be conclusively deemed to have indicated the Participant’s acceptance and ratification of, and consent to, any action taken under the Plan or the Grant by ALLETE, the Board, or the Committee.

8.          Notices.  Any notice hereunder to ALLETE shall be addressed to ALLETE, 30 West Superior Street, Duluth, Minnesota 55802, Attention:  Manager - Executive Compensation and Employee Benefits, Human Resources, and any notice hereunder to the Participant shall be directed to the Participant’s address as indicated by ALLETE’s records, subject to the right of either party to designate at any time hereafter in writing some other address.

9.          Governing Law and Severability.  To the extent not preempted by the Federal law, the Grant will be governed by and construed in accordance with the laws of the State of Minnesota, without regard to its conflicts of law provisions.  In the event any provision of the Grant shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Grant, and the Grant shall be construed and enforced as if the illegal or invalid provision had not been included.

10.        Definitions.  Capitalized terms not otherwise defined herein shall have the meanings given them in the Plan.  The following definitions apply to the Grant and this Annex A:

 10.1          “Change in Control” means the earliest of:
 
(i)  
the date any one Person, or more than one Person acting as a group (as the term “group” is used in Treasury Regulations section 1.409A-3(i)(5)(v)(B)), acquires ownership of stock of the Company that, together with stock previously held by the acquirer, constitutes more than fifty (50%) percent of the total fair market value or total voting power of Company stock.  If any one Person, or more than one Person acting as a group, is considered to own more than fifty (50%) percent of the total fair market value or total voting power of Company stock, the acquisition of additional stock by the same Person or Persons acting as a group does not cause a Change in Control.  An increase in the percentage of stock owned by any one Person, or Persons acting as a group, as a result of a transaction in which Company acquires its stock in exchange for property, is treated as an acquisition of stock;
 
(ii)  
the date any one Person, or more than one Person acting as a group (as the term “group” is used in Treasury Regulations section 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by that Person or Persons) ownership of Company stock possessing at least thirty (30%) percent of the total voting power of Company stock;
 
 
3

 
 
(iii)  
the date a majority of the members of the Company’s board of directors is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the board of directors prior to the date of appointment or election; or
 
(iv)  
the date any one Person, or more than one Person acting as a group (as the term “group” is used in Treasury Regulations section 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by that Person or Persons) assets from the Company that have a total gross fair market value equal to at least forty (40%) percent of the total gross fair market value of all the Company’s assets immediately prior to the acquisition or acquisitions.  For this purpose, “gross fair market value” means the value of the corporation’s assets, or the value of the assets being disposed of, without regard to any liabilities associated with these assets.
 
In determining whether a Change in Control occurs, the attribution rules of Code section 318 apply to determine stock ownership.  The stock underlying a vested option is treated as owned by the individual who holds the vested option, and the stock underlying an unvested option is not treated as owned by the individual who holds the unvested option.  The term “Person” used in this definition means any individual, corporation (including any non-profit corporation), general, limited or limited liability partnership, limited liability company, joint venture, estate, trust, firm, association, organization or other entity or any governmental or quasi-governmental authority, organization, agency or body.
 
10.2           “Code” means the Internal Revenue Code of 1986, as it may be amended from time to time
 
10.3           “Disability” or “Disabled” means a physical or mental condition in which the Participant is:
 
(i)  
unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months;
 
(ii)  
by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under the Employer’s accident and health plan;
 
(iii)  
determined to be totally disabled by the Social Security Administration; or
 
(iv)  
disabled pursuant to an Employer-sponsored disability insurance arrangement provided that the definition of disability applied under such disability insurance program complies with the foregoing definition of Disability.
 
 
4

 
 
10.4           “Related Company” means the ALLETE, Inc. and all persons with whom the ALLETE, Inc. would be considered a single employer under Code section 414(b) (employees of controlled group of corporations), and all persons with whom such person would be considered a single employer under Code section 414(c) (employees of partnerships, proprietorships, etc., under common control); provided that in applying Code sections 1563(a)(1), (2), and (3) for purposes of determining a controlled group of corporations under Code section 414(b), the language “at least 50 percent” is used instead of “at least 80 percent” each place it appears in Code sections 1563(a)(1), (2), and (3), and in applying Treasur y Regulations section 1.414(c)-2 for purposes of determining trades or businesses (whether or not incorporated) that are under common control for purposes of Code section 414(c), “at least 50 percent” is used instead of “at least 80 percent” each place it appears in Treasury Regulations section 1.414(c)-2.

10.5           “Retirement” or “Retires” means Separation from Service, for reasons other than death or Disability, on or after attaining normal retirement age or early retirement age as defined in the most applicable qualified retirement plan sponsored by the Related Company that employed  the Participant immediately preceding the Separation from Service, without regard to whether the Participant is a participant in such plan, or if the employer Related Company does not sponsor such retirement plan, on or after attaining Normal Retirement Age or Early Retirement Age as defined in the Minnesota Power and Affiliated Companies Retirement Plan A, without regard to whether the Participant is a participant under the Minnesota Power and Affiliated Companies Retirement Plan A.
 
10.6           “Section 409A means Section 409A of the Code and Treasury Regulations section 1.409A-1 et seq., as they both may be amended from time to time, or other guidance issued by the Treasury Department and Internal Revenue Service thereunder.

10.7           “Separation from Service” means that the Participant terminates employment within the meaning of Treasury Regulations section 1.409A-1(h) and other applicable guidance with all Related Companies.  Whether a termination of employment has occurred is determined under the facts and circumstances, and a termination of employment shall occur if all Related Companies and the Participant reasonably anticipate that no further services shall be performed after a certain date or that the level of bona fide services the Participant shall perform after such date (as an employee or an independent contractor) shall permanently decrease to no more than 20 percent of the average level of bona fide services p erformed (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the full period of services to the Related Companies if the Participant has been providing services to the Related Companies less than 36 months).  A Participant shall not be considered to separate from service during a bona fide leave of absence for less than six (6) months or longer if the Participant retains a right to reemployment with any Related Company by contract or statute.  With respect to disability leave, a Participant shall not be considered to separate from service for 29 months unless the Participant otherwise terminates employment or is terminated by all Related Companies.
 
 
5

 

 
 
 
10.8  
Specified Employee” means an Participant who is subject to the six-month delay rule described in Code section 409A(2)(B)(i), determined in accordance with guidelines adopted by the
Board from time to time as permitted by Section 409A of the Code and Treasury Regulations section 1.409A-1 et seq., as they both may be amended from time to time, and other guidance issued by the Treasury Department and Internal Revenue Service thereunder.
 
 
 
6

 
 


EX-10.N9 9 exhibit_10n9.htm ALLETE, INC. NON-MANAGEMENT DIRECTOR COMPENSATION EFFECTIVE JAN 19, 2011 exhibit_10n9.htm
Exhibit 10(n)9
 
 
 
ALLETE, INC.
Non-Management Director Compensation
Effective January 19, 2011

 
 
Board Retainers (1) (2)
Stock
Cash
 
$60,000
$35,000
Committee Cash Retainers (1) (2)
Audit
Executive Compensation
Corporate Governance & Nominating
 
$9,000
$7,500
$7,500
Chair Cash Retainers (1) (2)
Audit
Executive Compensation
Corporate Governance & Nominating
 
$8,500
$5,500
$4,500

Lead Director (1) (2) (3)
Board Stock Retainer
Board Cash Retainer
Lead Director Cash Retainer
 
$60,000
$35,000
$25,000

Board Chairman (1) (2) (3)
Board Stock Retainer
Board Cash Retainer
 
$90,000
$85,000


(1)
Cash and stock retainers may be deferred under the Director Compensation Deferral Plan II.
(2)
Cash retainers may be elected to be received in ALLETE stock.
(3)
Lead Director and Board Chairman are not eligible for other committee or chair retainers.

 
 

 

EX-10.Q 10 exhibit_10q.htm ALLETE AND AFFILIATED COMPANIES CHANGE IN CONTROL SEVERANCE PLAN AS AMENDED AND RESTATED exhibit_10q.htm
Exhibit 10(q)

 
 
 
AMENDED AND RESTATED
 
ALLETE AND AFFILIATED COMPANIES
 
CHANGE IN CONTROL SEVERANCE PLAN
 
ALLETE’s Board of Directors has determined that it is in the best interest of ALLETE and its shareholders to foster the continued dedication and objectivity of certain key members of the Company's management notwithstanding the possibility or occurrence of an acquisition by another company or other change in control of the Company.  Accordingly, ALLETE adopted the Change in Control Severance Plan effective as of February 13, 2008.
 
Effective as of the “Effective Date,” The Board has adopted this Amended and Restated Change in Control Severance Pay Plan designed, among other changes, to eliminate the excise tax gross-up feature, to eliminate certain benefit continuation payments and to establish a modified severance payment cap, all as provided herein.
 
Section 1.           Definitions. For purposes of the Plan, the following terms shall have the meanings indicated below:
 
“Act” means the Securities Exchange Act of 1934, as amended from time to time.
 
“Affiliate” means any entity directly or indirectly controlled by, controlling or under common control with, ALLETE.
 
“ALLETE” means ALLETE, Inc., a Minnesota Corporation.
 
“Base Salary” shall mean, as to any Participant, the highest amount a Participant is entitled to receive annually as base salary at any time during the Protection Period, without reduction for any pre-tax contributions to benefit plans.
 
“Benefit Continuation Payment” means the payment described in Section 2.1.2. “Board” means the Board of Directors of ALLETE.
 
“Bonus Amount” shall mean, as to any Participant, an amount equal to the Participant's annual bonus which would have been payable under the Bonus Plan in which he or she participates (x) as of immediately prior to the Change in Control had he or she continued in employment until the end of the fiscal year of the Employer in which the Change in Control occurs and had bonuses been payable at "target" levels for  such year or (y) if greater, as of the Termination Date had he or she continued in employment until the end of the fiscal year of the Employer in which the Termination Date occurs and had bonuses been payable at "target" levels for such year.
 
“Bonus Plan” shall mean the ALLETE Executive Annual Incentive Plan and any similar or successor annual bonus plan, excluding plans intended to qualify under Section 401(a) of the Code.
 
“Cause” means:
 
(a)           the Participant’s willful and continued failure to perform the duties and responsibilities of his or her position (other than as a result of the Participant’s disability or anticipated failure after the Participant gives notice of Termination for Good Reason by the Participant) after there has been delivered to the Participant a written demand for performance which describes the basis for the belief that the Participant has not substantially performed his or her duties and after the Participant fails to take full corrective action within twenty (20) days of receipt of such notice; or
 
(b)           any material act of personal dishonesty taken by the Participant in connection with his or her responsibilities as an employee of the Company which is demonstrably and materially injurious to the Company; or
 
(c)           the Participant’s conviction of, or plea of nolo contendere to, a felony that the Company (or in the case of the Chief Executive Officer, the Board) reasonably believes has had or will have a material detrimental effect on the Company’s business or reputation.
 
Change in Control” means the earliest of:
 
(a) the date any one Person, or more than one Person acting as a group (as the term “group” is used in Treasury Regulation section 1.409A-3(i)(5)(v)(B)), acquires ownership of stock of ALLETE that, together with stock previously held by the acquiror, constitutes more than fifty (50%) percent of the total fair market value or total voting power of ALLETE stock.  If any one Person, or more than one Person acting as a group, is considered to own more than fifty (50%) percent of the total fair market value or total voting power of ALLETE stock, the acquisition of additional stock by the same Person or Persons acting as a group does not cause a Change in Control.  An increase in the percentage of stock owned by any one Person, or Persons acting as a group, as a result of a transaction in which ALLETE acquir es its stock in exchange for property, is treated as an acquisition of stock;
 
(b) the date any one Person, or more than one Person acting as a group (as the term “group” is used in Treasury Regulation section 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by that Person or Persons) ownership of a ALLETE stock possessing at least thirty (30%) percent of the total voting power of ALLETE stock;
 
(c) the date a majority of the members of the ALLETE board of directors is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the board of directors prior to the date of appointment or election; or
 
(d) the date any one Person, or more than one Person acting as a group (as the term “group” is used in Treasury Regulation section 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by that Person or Persons) assets from ALLETE that have a total gross fair market value equal to at least forty (40%) percent of the total gross fair market value of all ALLETE’s assets immediately prior to the acquisition or acquisitions.  For this purpose, “gross fair market value” means the value of the corporation’s assets, or the value of the assets being disposed of, without regard to any liabilities associated with these assets.
 
In determining whether a Change in Control occurs, the attribution rules of Code Section 318 apply to determine stock ownership.  The stock underlying a vested option is treated as owned by the individual who holds the vested option, and the stock underlying an unvested option is not treated as owned by the individual who holds the unvested option.
 
“Change in Control Severance Payment” means the Severance Payment and Benefit Continuation Payment.
 
“Code” means the Internal Revenue Code of 1986, as amended from time to time.
 
“Committee” means the committee responsible for administering the Plan, as described in Section 5.
 
“Company” means ALLETE and its Affiliates and except for purposes of determining whether a Change in Control has occurred, shall include any successor in interest to its business or assets which assumes the obligations of the Plan as required in Section 6.1 or which becomes bound by the terms of the Plan by operation of law.
 
“Effective Date” means January 19, 2011.
 
“Good Reason” means the occurrence of any of the following without the Participant’s consent, which will permit the Participant to terminate employment within ninety (90) days after the end of the Cure Period (defined below):
 
(a)           a material diminution of the Participant’s authority, duties, or responsibilities relative to the authority, duties or responsibilities of the Participant prior to such reduction; or
 
(b)           a material diminution by the Company in the Participant’s total compensation, including base pay, aggregate incentive compensation opportunities (but excluding any reduction in incentive compensation awards as the result of the performance of the Participant or the Company) and aggregate benefits, as in effect immediately prior to such reduction; or
 
(c)           the relocation of the Participant to a location or facility more than fifty (50) miles from the Participant's location immediately prior to change; or
 
(d)           a material diminution by the Company of the authority, duties, or responsibilities of the supervisor to whom the Participant is required to report relative to the authority, duties or responsibilities of the supervisor prior to such reduction, including a requirement that the Participant report to a corporate officer or employee instead of reporting directly to the Board; or
 
(e)           a material diminution in the budget over which the Participant retains authority relative to the budget prior to such reduction; or
 
(f)           any other action or inaction that constitutes a material breach by the Company of an agreement under which a Participant provides services.
 
Notwithstanding the foregoing, the Participant may not resign for Good Reason without first providing the Employer with written notice (except in the case of  ALLETE’s Chief Executive Officer who shall provide such notice to the Board) of the condition that could constitute a “Good Reason” event within ninety (90) days of the initial existence of the condition and then only if such condition has not been remedied by the Employer within thirty (30) days of such written notice (the “Cure Period”).
 
“Employer” shall mean, as applicable to any Participant, ALLETE or an Affiliate that employs the Participant.
 
“Involuntary Separation” means, with respect to a Participant, an involuntary termination of employment by the Employer without Cause, or a voluntary termination by the Participant with Good Reason.
 
“Participant” means an individual who the Committee has selected to participate in the Plan and who has received written notification of both the eligibility to participate and status as either a “Group A Participant” or a “Group B Participant.”
 
“Person” means any individual, corporation (including any non-profit corporation), general, limited or limited liability partnership, limited liability company, joint venture, estate, trust, firm, association, organization or other entity or any governmental or quasi-governmental authority, organization, agency or body.
 
“Plan” means this Amended and Restated ALLETE and Affiliated Companies Change in Control Severance Plan.
 
“Protection Period” means the period beginning on the date that is six (6) months prior to a Change in Control and ending on the date that is twenty four (24) months after a Change in Control.
 
“Severance Duration Multiplier” means with respect to any Group A Participant, 2.5; and, with respect to any Group B Participant, 1.5.
 
“Severance Payment” means the payment described in Section 2.1.1.
 
“Termination Date” shall mean, with respect to a Participant, the date of the Participant’s Involuntary Separation.
 
Section 2.           Change in Control Severance Benefits.
 
2.1           Involuntary Separation in Connection with Change in Control. If a Participant has an Involuntary Separation on any date during the Protection Period, Participant will receive the following severance benefits from the Employer:
 
2.1.1           Severance Payment.  Participant will receive a lump sum cash payment in an amount equal to the product of (a) the applicable Severance Duration Multiplier and (b) the sum of (i) the Participant’s Base Salary and (ii) the Participant’s Bonus Amount.
 
2.1.2           Benefit Continuation Payment.  Participant will receive an additional lump sum cash payment in an amount equal to the applicable Severance Duration Multiplier times the sum of: (i) the annual premium for medical and dental benefits in effect on the Termination Date as determined for individuals who are entitled to elect continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”); (ii) the annual premium the Employer would have paid to maintain core life insurance on behalf of the Participant had the Participant remained an employee of the Employer; and (iii) an amount the Employ er would have allocated to the Participant annually under the Minnesota Power and Affiliated Companies Flexible Compensation Plan, determined with reference to the Participant’s Base Salary.
 
Participants will be responsible for electing benefit continuation coverage, if such coverage is desired, pursuant to COBRA, within the time period prescribed pursuant to COBRA, and for paying all COBRA premiums for any continuation coverage so elected.
 
2.1.3           Outplacement Services.  The Company will pay up to an aggregate of $25,000 for outplacement services obtained by Participant on or before the end of the second year following the year including the Termination Date, provided that the services commence not later than three (3) months following the later of the Change in Control or the Termination Date, and all amounts must be paid by the end of the third year following the year including the Termination Date.  Outplacement services will be provided only in kind; the Company will pay the outplacement service provider(s) directly for services rendered to the Participant in accordance wit h this Section.  No cash will be paid in lieu of outplacement services, nor will cash compensation to the Participant be increased if the Participant declines or does not use outplacement services.
 
2.2           Timing of Severance Payments.  Subject to Sections 2.5 and 3.1, the Company will pay any Change in Control Severance Payment to which a Participant is entitled within 30 days after the later of the Termination Date or the effective date of the Separation Agreement and Release, but in no event more than seventy-four (74) calendar days after the later of the date of the Change of Control or the Termination Date.
 
2.3           Voluntary Resignation; Termination for Cause.  If Participant’s employment with the Company terminates for any reason other than Involuntary Separation, Participant will not receive any payments under this Plan.
 
2.4           Coordination with other Payments.  The payments and benefits under this Plan to a Participant are intended to constitute the exclusive payments in the nature of severance or termination pay that shall be due to a Participant upon termination of his or her employment without Cause or for Good Reason in connection with a Change in Control and shall be in lieu of any such other payments under any agreement, plan, practice or policy of the Company, except as otherwise expressly provided in a written agreement between the Company and the Participant that such severance payments or benefits are to be paid in addition to any payment or benefit described herein. Accordingly, if a Participant is a party to an employment, severance, termination, salary continuation or other similar agreement with the Company or any of its Affiliates, or is a participant in any other severance plan, practice or policy of the Company or any of its Affiliates that does not expressly provide that such severance payments or benefits are to be paid in addition to any payment or benefit described herein, the severance pay to which the Participant is entitled under this Plan shall be reduced (but not below zero) by the amount of severance pay to which he or she is entitled under such other agreement, plan, practice or policy; provided that the reduction set forth in this sentence shall not apply as to any other such agreement, plan, practice or policy that contains a reduction provision substantially similar to this Section 2.4 so long as the reduction provision of such other agreement, plan, practice or policy is applied.
 
2.5           Code Section 409A.  To the extent that any payment under this Plan is deemed to be deferred compensation subject to the requirements of Section 409A of the Code, or any final regulations or guidance promulgated thereunder (“Section 409A”), the plan will be operated in compliance with Section 409A with respect to the subject payment.   Notwithstanding anything in this Plan to the contrary, if Participant is a Specified Employee, the payment of any amount under this Plan that is Nonqualified Deferred Compensation, and that becomes payable on account of a Separation from Service, will be delayed and paid in a lump sum, with interest from the date on which it would otherw ise have been paid in accordance with Section 2.2 at the short-term applicable federal rate, on the first date on which any such amount may be paid without triggering a tax under Section 409A, but in no event before the date that is six (6) months and one (1) day following the Participant’s Separation from Service.  The Plan is intended to comply with the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply.  The Company may amend or modify the plan, at any time, to comply with Section 409A.  The terms “Specified Employee,” “Nonqualified Deferred Compensation,” and “Separation from Service” shall have the meaning provided by Section 409A and the applicable Treasury Regulations.
 
Section 3.           Conditions to Receipt of Benefits; No Mitigation.
 
3.1           Separation Agreement and Release of Claims. No Change in Control Severance Payment shall be provided to a Participant unless, within sixty (60) days following the later of the Change in Control or Participant’s Termination Date, the Participant delivers to the Company a Separation Agreement and Release, that has been properly executed on or after the Participant’s Termination Date and has become irrevocable as provided therein.  The initial form of the Separation Agreement and Release, including non-solicitation, non-competition and non-disparagement provisions, is attached to this Plan as Appendix A.  Prior to the occurrence of a Change in Control, the Company may revise the Separation Agreement and Release.  The Company may in any event modify the Separation Agreement and Release to conform it to the laws of the local jurisdiction applicable to a Participant or a change in applicable federal law so long as such modification does not increase the obligations of the Participant thereunder.
 
3.2           No Duty to Mitigate.  Participant will not be required to mitigate the amount of any payment or benefit contemplated by this Plan, nor will any earnings that Participant may receive from any other source reduce any such payment or benefits.
 
Section 4.           Limitation on Payments.
 
If it is determined that any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of the Participant, whether paid or payable pursuant to this Plan or otherwise (a “Payment”) would constitute an “excess parachute payment” within the meaning of Section 280G of the Code, the aggregate present value of the Payments under the Plan shall be reduced (but not below zero) to the Reduced Amount (defined below), provided that the Payments shall be reduced only if the Accounting Firm (described below) determines that the reduction will provide the Executive with a greater net after-tax benefit than would no reduction.  The “Reduced Amount” shall be an amount expressed in the present value which maximizes the aggregate presen t value of Payments under this Plan without causing any Payment under this Plan to be subject to the excise tax imposed under Code Section 4999, determined in accordance with Code Section 280G(d)(4).  Payments under this Plan shall be reduced on a nondiscretionary basis in such a way as to minimize the reduction in the economic value deliverable to the Participant.  Any such reduction shall be implemented in a manner consistent with the requirements of Code Section 409A, and if more than one payment has the same value for this purpose and they are payable at different times, they will be reduced on a pro rata basis.  The determination of whether any Payments constitute an “excess parachute payment” within the meaning of Code Section 280G and, if so, the amount to be delivered to the Participant pursuant to this Section of the Plan shall be determined by an independent accounting firm (the “Accounting Firm”) selected by the Participant and the Company. 0; The Accounting Firm shall be a nationally recognized United States public accounting firm.  If the Participant and the Company cannot agree on the Accounting Firm, the Participant and the Company shall each designate one (1) accounting firm and those two firms shall jointly select the accounting firm to serve as the Accounting Firm.  All fees and expenses of the Accounting Firm shall be borne solely by the Company.  Any determination by the Accounting Firm shall be binding upon the Company and the Participant.
 
Section 5.           Plan Administration.
 
5.1           The Plan shall be interpreted, administered and operated by the Executive Compensation Committee of the Board (“Committee”).  Subject to the express terms of the Plan, the Committee shall have complete authority, in its sole discretion, to determine who shall be a Participant, to interpret the Plan, to prescribe, amend and rescind rules relating to the Plan, and to make all other determinations necessary or advisable for the administration of the Plan. Notwithstanding the foregoing, the Committee may delegate any of its duties hereunder to such Person or Persons from time to time as it may designate.
 
5.2           All expenses and liabilities that members of the Committee incur in connection with the administration of the Plan shall be borne by the Company. The Committee may employ attorneys, consultants, accountants, appraisers, brokers, or other Persons, and the Committee, the Company and the Company's officers and directors shall be entitled to rely upon the advice, opinions or valuations of any such Persons. No member of the Committee or the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, and all members of the Committee shall be fully protected by the Company in respect of any such action, determination or interpretation.
 
Section 6.           Successors.

6.1           The Company’s Successors.  This Plan shall bind any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, in the same manner and to the same extent that the Company would be obligated under this Plan if no succession had taken place.  In the case of any transaction in which a successor would not by the foregoing provision or by operation of la w be bound by this Plan, the Company shall require such successor expressly and unconditionally to assume and agree to perform the obligations of the Company and each Employer under this Plan, in the same manner and to the same extent that the Company and each Employer would be required to perform if no such succession had taken place.
 
6.2           Participant’s Successors. All rights of the Participant under this Plan will inure to the benefit of, and be enforceable by, the Participant's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, legatees or other beneficiaries. If a Participant dies while any amount is payable to such Participant hereunder (other than amounts which, by their terms, terminate upon the death of the Participant) if such Participant had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Plan to the executors, personal representatives or administrators of such Participant's estate.
 
Section 7.           Notices.
 
7.1           General.  Notices and all other communications provided for in the Plan shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by United States registered or certified mail, return receipt requested and postage prepaid.  In the case of a Participant, mailed notices will be sent to his or her home address most recently communicated to the Company in writing.  In the case of the Company, mailed notices will be addressed to its corporate headquarters, and all notices will be directed to the attention of its Vice President, Human Resources.
 
7.2           Notice of Termination.  Any termination of a Participant’s employment by the Company for Cause or by a Participant for Good Reason will be communicated by a notice of termination to the other party given in accordance with Section 7.1 of the Plan.
 
Section 8.           Miscellaneous.
 
8.1           No Waiver. No waiver by the Company or any Participant, as the case may be, at any time of any lack of compliance with any condition or provision of this Plan to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same, or at any prior or subsequent time. All other plans, policies and arrangements of the Company in which the Participant participates during the term of this Plan shall be interpreted so as to avoid the duplication of benefits paid hereunder.
 
8.2           No Right to Employment. Nothing contained in this Plan or any documents relating to the Plan shall: (a) confer on a Participant any right to continue in the employ of the Company or a subsidiary, (b) constitute any contract or agreement of employment, or (c) interfere in any way with the right of the Company to terminate the Participant's employment at any time, with or without Cause.
 
8.3           Legal Fees and Expenses.  If a Participant commences a legal action to enforce any of the obligations of the Company under this Plan and Participant prevails on the merits of the substantive issues in dispute in such proceeding, the Company shall pay the Participant the amount necessary to reimburse the Participant in full for all actual reasonable expenses (including reasonable attorneys' fees and legal expenses) incurred by the Participant with respect to such action.

8.4           Plan Termination; Amendment of Plan.  Prior to a Change in Control, the Plan may be amended or modified in any respect, and may be terminated, in any such case by resolution adopted by the Executive Compensation Committee of the Board; provided, however, that no such amendment, modification or termination that would adversely affect the benefits or protections hereunder of any individual who is a Participant as of the date such amendment, modification or termination is adopted shall be effective as it relates to such individual unless no Change in Control occurs within one year after such adoption, any such attempted amendment, modification or termination adopted within one year prior to a Chan ge in Control being null and void ab initio as it relates to all such individuals who were Participants prior to such adoption (it being understood, however, that the hiring, termination of employment, promotion or demotion of any employee of the Company prior to a Change in Control shall not be construed to be an amendment, modification or termination of the Plan); provided, further, however, that the Plan may not be amended, modified or terminated, (i) at the request of a third party who has indicated an intention or taken steps to effect a Change in Control and who effectuates a Change in Control or (ii) otherwise in connection with, or in anticipation of, a Change in Control which actually occurs, any such attempted amendment, modification or termination being null and void ab initio.  Any action taken to amend, modify or terminate the Plan which is taken after the execution of an agreement providing for a transaction or transactions which, if consummated, would constitute a Change in Control s hall conclusively be presumed to have been taken in connection with a Change in Control.  From and after the occurrence of a Change in Control, the Plan may not be amended or modified in any manner that would in any way adversely affect the benefits or protections provided hereunder to any individual who is a Participant in the Plan on the date the Change in Control occurs.  From and after the occurrence of a Change in Control, except to the extent specifically permitted by the last sentence of Section 3.1, the revision of the Separation Agreement and Release, attached hereto as Appendix A, shall be deemed to be a modification of the Plan for purposes of this Section 8.4.  If a Change in Control occurs, this Plan shall continue in full force and effect and shall not terminate or expire until after all Participants who have become entitled to Change in Control Severance Payments hereunder shall have received such pa yments in full.
 
8.5           Benefits not Assignable. Except as otherwise provided herein or by law, no right or interest of a Participant under the Plan shall be assignable or transferable, in whole or in part, either directly or by operation of law or otherwise, including without limitation by execution, levy, garnishment, attachment, pledge or in any manner; no attempted assignment or transfer thereof shall be effective; and no right or interest of a Participant under the Plan shall be liable for, or subject to, any obligation or liability of such Participant. When a payment is due pursuant this Plan to a Participant who is unable to care for his or her affairs, payment may be made directly to his or her legal guardian or persona l representative.
 
8.6           Tax Withholding. All amounts payable hereunder shall be subject to withholding of applicable federal, state and local taxes.
 
8.7           Minnesota Law. This Plan will be construed and interpreted, and the rights of the Company and Participants will be determined in accordance with, the laws of the State of Minnesota (without regard to the conflicts of laws principles thereof), to the extent not preempted by federal law, which shall otherwise control.
 
8.8           Validity. The invalidity or unenforceability of any provision of this Plan shall not affect the validity or enforceability of any other provision of this Plan, which shall remain in full force and effect. If this Plan shall for any reason be or become unenforceable by either party, this Plan shall thereupon terminate and become unenforceable by the other party as well.
 
 
 

 

 
Now, therefore, ALLETE has adopted this Amended and Restated Change in Control Severance Plan effective as of the Effective Date.
 
ALLETE, Inc.
 
By:  ____________________________________
 
                     Name:  __________________________________
 

 
Attest:
 
By  ___________________________________
 
Its  ___________________________________
 



 
 

 

Appendix A

Form of
SEPARATION AGREEMENT AND RELEASE

WHEREAS << [full name] >> (“Executive”) is a Participant of the Amended and Restated ALLETE and Affiliated Companies Change in Control Severance Plan (“the Plan”), and whereas Executive’s employment with <<ALLETE, Inc. or applicable Affiliate >> (together with all affiliates of ALLETE, Inc., the “Company”) terminated effective <<Termination Date>> (“<<”Termination Date” / “Retirement Date”>>)under circumstances that make Executive eligible to receive certain compens ation and other benefits under the Plan, and whereas Executive enters into this Separation Agreement and Release (“Agreement”) of <<  [his / her]  >> own free will and deed; therefore, as of the date written below the Company  and Executive agree as follows:

1.  Separation Benefit.  Executive will receive from the Company the payment and other benefits provided by the Plan and delivered in accordance with the Plan provided that this Agreement becomes effective and Executive has not rescinded the Agreement within the Reconsideration Period (defined below).

2.  Non-Solicitation.  From the <<Termination Date” / “Retirement Date>> and for a period continuing through the date that twenty four (24) months following the later of the <<Termination Date” / “Retirement Date>>  or a Change in Control (as defined in the Plan) Executive will not solicit, or assist any Person (as defined in the Plan) in the solicitation of, any director, officer or employee of the Company for employment other than with the Company, or otherwise interfere with or disrupt any employment relationship (contractual or otherwise) of the Company.

3.  Non-Competition.  For a period of twelve (12) months following the later of the <<Termination Date” / “Retirement Date>> or a Change in Control (as defined in the Plan) Executive will not, without the written express consent of the Company, directly or indirectly, alone or as a partner, owner, officer, director, employee, or consultant of any other firm, business or entity, engage in any activity in competition with the Company.  This prohibition will apply only to activities in which the Company is engaged at any time during the Executive’s employment with the Company and only with respect to those geographic regions in which the Company is engaged in such business activities or reasonably anticipates engaging in such business activities. << Provide specific areas or examples as appropriate >>.  Notwithstanding the foregoing, nothing herein shall prohibit Executive from owning stock of any corporation, if such stock is traded on a recognized national securities exchange.
 
        4.  Nondisparagement.  For a period of twelve (12) months following the later of the <<Termination Date” / “Retirement Date>> or a Change in Control (as defined in the Plan) Executive will not, directly or indirectly, knowingly and materially disparage, criticize, or otherwise make derogatory statements regarding the Company or any aspect of management policies, operations, practices, or personnel of the Company.  Notwithstanding the foregoing, nothing contained herein will be deemed to restrict the Participant from providing information to any governmental or regulatory agency (or in any way limit the content of such information) to the extent the Participant is required to provide such information pursuant to applicable law or regulation; nor will the foregoing restrict the Participant from enforcing his or her rights under this Agreement or the Plan. The Company promises that its officers will not disparage Executive, and will do nothing intentionally calculated  to harm the Executive’s reputation.

5.  Non Disclosure.   Executive agrees to keep confidential all information and trade secrets to which Executive has had access during and in the course of Executive’s employment by the Company, (whether written, prepared or made by him or others), including but not limited to the terms of this Agreement, the business practices, strategies, and opportunities of the Company, and any other non-public information relating to the Company’s business.  Notwithstanding the foregoing, Executive may reveal the existence of this Agreement, its terms and conditions, and the facts and circumstances leading up to this Agreement with Executive’s spouse, attorneys, accountants, tax consultants, and to state and federal tax authorities or as may be required by law.

6.  Waiver and Release.  Except with respect to Executive’s rights under this Agreement and the Plan, Executive on behalf of himself and his heirs, executors, administrators, representatives, successors and assigns, agrees to release and forever discharge ALLETE, Inc., and its affiliates, subsidiaries, predecessors, successors, related entities, insurers and the current and former officers, directors, shareholders, employees, attorneys, agents and trustees or administrators of any benefit plan of each of the foregoing (any and all of which are referred to as “Releasees”) generally from any and all charges, complaints, claims, promises, agreements, causes of actions, damages, and debts of any nature whatsoever, known or unknown (collective ly “Claims”), which Executive has, claims to have, ever had, or ever claimed to have had against Releasees up through the date of execution of this Agreement, including but not limited to any Claims under the common law or any statute.  This waiver and release includes but is not limited to any rights, remedies, claims, and causes of action under the Minnesota Human Rights Act, Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act of 1967, the Employee Retirement Income Securities Act of 1974, as amended, (but only as to claims arising thereunder prior to the date hereof) the Older Workers Benefit Protection Act, the Americans with Disabilities Act, the Family Medical Leave Act, state unemployment compensation benefits, and any other federal, state or local discrimination or civil rights statute or any federal, state or local ordinance of any kind, any tort theory, any contract theory and any equitable theory, and all claims for back pay, front pay, vacation pay, or sick pay, excepting only:

      (a)   rights of the Executive under this Separation Agreement and Release and the Plan;

      (b)   rights of the Executive relating to equity awards held by the Executive as of his or her Termination Date (as defined in the Plan);

      (c)   the right of the Executive to receive COBRA continuation coverage in accordance with applicable law;

      (d)   rights to indemnification the Executive may have (i) under applicable corporate law, (ii) under the by-laws or certificate of incorporation of any Releasee or (iii) as an insured under any director's and officer's liability insurance policy now or previously in force;

      (e)   claims (i) for benefits under any health, disability, retirement, deferred compensation, life insurance or other, similar Executive benefit plan or arrangement of the Company and (ii) for earned but unused vacation pay through the Termination Date in accordance with applicable Company policy; and

      (f)   claims for the reimbursement of unreimbursed business expenses incurred prior to the Termination Date pursuant to applicable Company policy.

Executive has been provided a period of twenty-one (21) days to consider this Agreement before executing it.  Executive has had an opportunity to discuss this agreement with Executive’s attorney or other adviser <<  [he / she]  >> had determined to be appropriate.  Executive may rescind this waiver and release of claims within fifteen (15) days of the date of this Agreement, (the “Reconsideration Period”) in which event the Company shall have no obligation to pay the benefits described in paragraph 1 above or otherwise provided under the Plan.
 
7.  Severability.  Should any provision of this agreement be held invalid or illegal, such illegality shall not invalidate the whole of this agreement, but, rather, the agreement shall be construed as if it did not contain the illegal part, and the rights and obligations of the parties shall be construed and enforced accordingly.

8.  Voluntary Agreement.  This Agreement is entered into on a completely voluntary basis by both Executive and Minnesota Power, and represents the complete agreement between the parties, superseding any previous agreements.

The date of this Agreement shall be dated << ______________________>>.


EXECUTIVE:

By:  ______________________________________

Name:  ____________________________________



ALLETE, Inc. << or applicable affiliate employer>>

By:  ______________________________________

Name:  ____________________________________

 
 

 

EX-12 11 exhibit_12.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES exhibit_12.htm
Exhibit 12
ALLETE
Computation of Ratios of Earnings to Fixed Charges (Unaudited)

Year Ended December 31
2010
2009
2008
2007
2006
Millions
         
Earnings, as defined:
         
Pretax Income Before Non-Controlling Interest
$119.1
$91.5
$126.4
$137.2
$128.2
Add: Fixed Charges
43.4
38.3
30.3
26.6
27.7
Less:  Non-Controlling Interest (a)
Undistributed Income from Less than 50 percent
         
Owned Equity Investment
3.4
3.7
3.8
3.3
2.3
Total Earnings as defined
$159.1
$126.1
$152.9
$160.5
$153.6
Fixed Charges:
         
Interest on Long-Term Debt
$39.7
$34.2
$27.4
$23.2
$22.8
Other Interest Charges
1.0
1.6
0.4
1.5
2.9
Interest Component of All Rentals (b)
2.7
2.5
2.5
1.9
2.0
Total Fixed Charges
$43.4
$38.3
$30.3
$26.6
$27.7
Ratio of Earnings to Fixed Charges
3.67
3.29
5.05
6.03
5.55
 
(a) Pretax income of subsidiaries that have not incurred fixed charges.
(b) Represents interest portion of rents estimated at 33 1/3 percent.
EX-21 12 exhibit_21.htm SUBSIDIARIES OF THE REGISTRANT exhibit_21.htm
Exhibit 21
Exhibit 21
 
SUBSIDIARIES OF THE REGISTRANT
(As of December 31, 2010)
(Reported Under Item 601 of Regulation S-K)

                                                                                                                                  0;       State or Country
Name                                                                                                                       0;                                                                                                                                                                          & #160; of Organization 
ALLETE, Inc. (d.b.a. ALLETE; Minnesota Power; Minnesota Power, Inc.;
Minnesota
 
Minnesota Power & Light Company; MPEX; MPEX A Division of Minnesota Power)
 
ALLETE Automotive Services, LLC
 
Minnesota
 
ALLETE Capital II
   
Delaware
 
ALLETE Capital III
   
Delaware
 
ALLETE Properties, LLC (d.b.a. ALLETE Properties)
Minnesota
   
ALLETE Commercial, LLC
Florida
   
Cape Coral Holdings, Inc.
Florida
   
Lake Swamp, LLC
 
Florida
   
Lehigh Acquisition Corporation
Delaware
     
Florida Landmark Communities, LLC
Florida
       
Lehigh Corporation
Florida
       
Mardem, LLC
 
       
Palm Coast Holdings, Inc.
Florida
       
Port Orange Holdings, LLC
Florida
     
Interlachen Lakes Estates, LLC
Florida
   
Palm Coast Land, LLC
Florida
   
Tomoka Holdings, LLC
Florida
 
ALLETE Water Services, Inc.
 
Minnesota
   
Florida Water Services Corporation
Florida
     
Energy Replacement Property, LLC
Minnesota
   
Georgia Water Services Corporation
Georgia
 
Energy Land, Incorporated
 
Wisconsin
 
Lakeview Financial Corporation I
 
Minnesota
 
Lakeview Financial Corporation II
 
Minnesota
   
Logistics Coal, LLC
 
Minnesota
 
Minnesota Power Enterprises, Inc.
 
Minnesota
   
ALLETE Renewable Resources, Inc.
 
   
BNI Coal, Ltd.
 
North Dakota
   
MP Affiliate Resources, Inc.
Minnesota
   
Rainy River Energy Corporation
Minnesota
   
Rainy River Energy Corporation - Wisconsin
Wisconsin
   
Synertec, Incorporated
 
Minnesota
   
Upper Minnesota Properties, Inc.
Minnesota
     
Upper Minnesota Properties - Development, Inc.
Minnesota
     
Upper Minnesota Properties - Irving, Inc.
Minnesota
     
Upper Minnesota Properties - Meadowlands, Inc.
Minnesota
 
MP Investments, Inc.
 
Delaware
 
RendField Land Company, Inc.
Minnesota
 
Superior Water, Light and Power Company
Wisconsin
EX-23.A 13 exhibit_23a.htm CONSENT OF PWC exhibit_23a.htm
Exhibit 23(a)
ALLETE 2010 Form 10-K



Consent of Independent Registered Public Accounting Firm


 
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
We hereby consent to the incorporation by reference in the Registration Statement on Form S-3 (Nos. 333-166515, 333-170289) and Form S-8 (Nos. 333-16445, 333-91348, 333-105225, 333-162890) of ALLETE, Inc. of our report dated February 16, 2011, relating to the financial statements, financial statement schedule and the effectiveness of internal control over financial reporting, which appears in this Form 10-K.
 

/s/ PricewaterhouseCoopers LLP

PRICEWATERHOUSECOOPERS LLP
Minneapolis, Minnesota
February 16, 2011
EX-31.A 14 exhibit_31a.htm CEO 302 CERTIFICATION exhibit_31a.htm
Exhibit 31(a)


Rule 13a-14(a)/15d-14(a) Certification by the Chief Executive Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002


I, Alan R. Hodnik, of ALLETE, Inc. (ALLETE), certify that:

1.  
I have reviewed this annual report on Form 10-K for the fiscal year ended December 31, 2010, of ALLETE;
 
2.  
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.  
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
4.  
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))  and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
 
a.
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
 
b.
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
 
c.
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
 
d.
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
 
5.  
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
 
 
a.
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
 
 
b.
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 

Date:  February 16, 2011
Alan R. Hodnik
 
 
Alan R. Hodnik
 
President and Chief Executive Officer

 
 

 

EX-31.B 15 exhibit_31b.htm CFO 302 CERTIFICATION exhibit_31b.htm
Exhibit 31(b)


Rule 13a-14(a)/15d-14(a) Certification by the Chief Financial Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002


I, Mark A. Schober, of ALLETE, Inc. (ALLETE), certify that:

1.  
I have reviewed this annual report on Form 10-K for the fiscal year ended December 31, 2010, of ALLETE;
 
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
4.
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
 
a.
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
 
b.
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
 
c.
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
 
d.
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
 
5.
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
 
 
a.
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
 
 
b.
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 

Date:  February 16, 2011
Mark A. Schober
 
 
Mark A. Schober
 
Senior Vice President and Chief Financial Officer

 
 

 

EX-32 16 exhibit_32.htm CEO AND CFO 906 CERTIFICATION exhibit_32.htm
Exhibit 32


Section 1350 Certification of Periodic Report
By the Chief Executive Officer and Chief Financial Officer
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002


Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, each of the undersigned officers of ALLETE, Inc. (ALLETE), does hereby certify that:
 
1.  
The Annual Report on Form 10-K of ALLETE for the fiscal year ended December 31, 2009, (Report) fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78m); and
 
2.  
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of ALLETE.
 


Date:  February 16, 2011
Alan R. Hodnik
 
 
Alan R. Hodnik
 
President and Chief Executive Officer




Date:  February 16, 2011
Mark A. Schober
 
 
Mark A. Schober
 
Senior Vice President and Chief Financial Officer



This certification shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to liability pursuant to that section. Such certification shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that ALLETE specifically incorporates it by reference.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to ALLETE and will be retained by ALLETE and furnished to the Securities and Exchange Commission or its staff upon request.

 
 

 

EX-99 17 exhibit_99.htm FURNISHED ALLETE, INC. 2010 NEWS RELEASE exhibit_99.htm
allete logo
NEWS
 
Exhibit 99
For Release:
February 16, 2011
Investor Contact:
Tim Thorp
 
218-723-3953
 
tthorp@allete.com
   
   
   
   
   
   
 
ALLETE reports 16 percent growth in 2010 earnings per share
 
ALLETE, Inc. (NYSE:ALE) today reported 2010 earnings of $2.19 per share, a 16 percent increase over the $1.89 per share recorded in 2009. ALLETE’s net income in 2010 was $75.3 million on total operating revenue of $907 million, compared to $61 million of net income and revenue of $759.1 million in 2009. Excluding a nonrecurring 12 cent charge as a result of the Patient Protection and Affordable Care Act, ALLETE’s pro forma earnings were $2.31 per share in 2010. 2009 results included a 15 cent per share nonrecurring charge.
 
“Improved power sales to our taconite customers was a reflection of a healthier economy and positively impacted our earnings for the year,” said ALLETE President and CEO Al Hodnik. “Megawatt-hour sales to these customers increased by 104 percent from 2009 to 2010.”
 
Income from Regulated Operations rose to $79.8 million during 2010 from $65.9 million in the previous year. The results reflected the stronger megawatt-hour sales combined with interim rate increases for Minnesota Power retail customers, and increased transmission-related margins. These increases were significantly offset by higher operating and maintenance, depreciation, interest and income tax expenses.
 
The Investments and Other segment recorded a net loss of $4.5 million during the year compared to a net loss of $4.9 million in 2009.
 
An increase in the average number of common shares outstanding, with issuance proceeds used to fund the company’s capital expenditure program, had a dilutive impact of 14 cents per share in 2010.
 
Hodnik said the company expects to earn between $2.35 and $2.55 in 2011. The company recently increased its quarterly dividend to 44.5 cents per share.
 
“We anticipate building upon our strengths in 2011 and beyond, to the benefit of our customers and shareholders, as the overall economy improves and we continue to make capital investments in renewable and transmission assets,” Hodnik said.
 
The company will host a conference call and webcast at 10:00 a.m. Eastern time today to discuss details of its performance for the year. Interested parties may listen live by calling (877) 303-5852, or by accessing the webcast at www.allete.com. A replay of the call will be available through February 20, 2011 by dialing (800) 642-1687, pass code 38206714.
 
ALLETE’s corporate headquarters are in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power in northeast Minnesota and Superior, Water, Light & Power Co. in northwest Wisconsin, ALLETE owns BNI Coal in Center, N. D. and has an eight percent equity interest in American Transmission Co. More information about the company is available on ALLETE’s Web site at www.allete.com.

 
 

 

The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.
 
ALLETE’s press releases and other communications may include certain non-Generally Accepted Accounting Principles (GAAP) financial measures. A “non-GAAP financial measure” is defined as a numerical measure of a company’s financial performance, financial position or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP in the company’s financial statements.
 
Non-GAAP financial measures utilized by the Company include presentations of earnings (loss) per share. ALLETE’s management believes that these non-GAAP financial measures provide useful information to investors by removing the effect of variances in GAAP reported results of operations that are not indicative of changes in the fundamental earnings power of the Company’s operations. Management believes that the presentation of the non-GAAP financial measures is appropriate and enables investors and analysts to more accurately compare the company’s ongoing financial performance over the periods presented.

 
 

 
 
ALLETE, Inc.
 
Consolidated Statement of Income
For the Periods Ended December 31, 2010 and 2009
Millions Except Per Share Amounts

     
Quarter Ended
Year to Date
 
   
2010
2009
2010
2009
Operating Revenue
       
 
Operating Revenue
$238.1
$216.0
$907.0
$766.7
 
Prior Year Rate Refunds
(7.6)
 
Total Operating Revenue
238.1
216.0
907.0
759.1
         
Operating Expenses
       
 
Fuel and Purchased Power
92.0
80.1
325.1
279.5
 
Operating and Maintenance
102.7
84.2
365.6
308.9
 
Depreciation
20.7
17.9
80.5
64.7
   
Total Operating Expenses
215.4
182.2
771.2
653.1
Operating Income
22.7
33.8
135.8
106.0
Other Income (Expense)
       
 
Interest Expense
(11.1)
(8.4)
(39.2)
(33.8)
 
Equity Earnings in ATC
4.5
4.6
17.9
17.5
 
Other
0.8
(2.0)
4.6
1.8
   
Total Other Income (Expense)
(5.8)
(5.8)
(16.7)
(14.5)
         
Income Before Non-Controlling Interest and  Income Taxes
16.9
28.0
119.1
91.5
Income Tax Expense
3.8
9.3
44.3
30.8
Net Income
13.1
18.7
74.8
60.7
 
Less: Non-Controlling Interest in Subsidiaries
(0.2)
(0.5)
(0.3)
Net Income Attributable to ALLETE
$13.3
$18.7
$75.3
$61.0
         
Average Shares of Common Stock
       
 
Basic
34.5
33.4
34.2
32.2
 
Diluted
34.7
33.5
34.3
32.2
           
Basic Earnings Per Share of Common Stock
$0.38
$0.56
$2.20
$1.89
Diluted Earnings Per Share of Common Stock
0.38
0.56
2.19
1.89
         
Dividends Per Share of Common Stock
$0.44
$0.44
$1.76
$1.76
 
Consolidated Balance Sheet
Millions
 
Dec. 31,
Dec. 31,
   
Dec. 31
Dec. 31,
 
2010
2009
 
 
2010
2009
Assets
     
Liabilities and Equity
   
Cash and Short-Term Investments
$51.6
$25.7
 
Current Liabilities
$158.9
$133.1
Other Current Assets
188.1
199.8
 
Long-Term Debt
771.6
695.8
Property, Plant and Equipment
1,805.6
1,622.7
 
Other Liabilities
324.8
325.0
Regulatory Assets
310.2
293.2
 
Regulatory Liabilities
43.6
47.1
Investment in ATC
93.3
88.4
 
Deferred Income Taxes
325.2
253.1
Investments
126.0
130.5
 
Equity
985.0
939.0
Other
34.3
32.8
 
 
   
Total Assets
$2,609.1
$2,393.1
 
Total Liabilities and Equity
$2,609.1
$2,393.1
 
 
 

 

   
Quarter Ended
Year to Date
ALLETE, Inc.
 
December 31,
December 31,
Income (Loss)
 
2010
2009
2010
2009
Millions
             
 
Regulated Operations
$14.6
$20.9
$79.8
$65.9
 
Investments and Other
(1.3)
(2.2)
(4.5)
(4.9)
 
Net Income Attributable to ALLETE
 
$13.3
$18.7
$75.3
$61.0
Diluted Earnings Per Share
$0.38
$0.56
$2.19
$1.89

Statistical Data
         
Corporate
           
 
Common Stock
       
   
High
 
$37.95
$35.29
$37.95
$35.29
   
Low
 
$34.81
$32.23
$29.99
$23.35
   
Close
 
$37.26
$32.68
$37.26
$32.68
 
Book Value
 
$27.25
$26.39
$27.25
$26.39

Kilowatt-hours Sold
       
Millions
           
 
Regulated Utility
       
   
Retail and Municipals
       
     
Residential
303
308
1,150
1,164
     
Commercial
359
358
1,433
1,420
     
Municipals
260
262
1,006
992
     
Industrial
1,848
1,294
6,804
4,475
       
Total Retail and Municipal
2,770
2,222
10,393
8,051
   
Other Power Suppliers
577
981
2,745
4,056
       
Total Regulated Utility
3,347
3,203
13,138
12,107
 
Non-regulated Energy Operations
31
41
118
203
       
Total Kilowatt-hours Sold
3,378
3,244
13,256
12,310
                 
 
This exhibit has been furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
EX-101.CAL 18 ale-20101231_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 19 ale-20101231_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.INS 20 ale-20101231.xml XBRL INSTANCE DOCUMENT 0000066756 2008-01-01 2008-12-31 0000066756 us-gaap:RetainedEarningsMember 2008-01-01 2008-12-31 0000066756 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2008-01-01 2008-12-31 0000066756 us-gaap:DeferredCompensationShareBasedPaymentsMember 2008-01-01 2008-12-31 0000066756 us-gaap:CommonStockMember 2008-01-01 2008-12-31 0000066756 2009-01-01 2009-12-31 0000066756 us-gaap:RetainedEarningsMember 2009-01-01 2009-12-31 0000066756 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2009-01-01 2009-12-31 0000066756 us-gaap:DeferredCompensationShareBasedPaymentsMember 2009-01-01 2009-12-31 0000066756 us-gaap:CommonStockMember 2009-01-01 2009-12-31 0000066756 2008-12-31 0000066756 us-gaap:RetainedEarningsMember 2008-12-31 0000066756 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2008-12-31 0000066756 us-gaap:DeferredCompensationShareBasedPaymentsMember 2008-12-31 0000066756 us-gaap:CommonStockMember 2008-12-31 0000066756 2009-12-31 0000066756 us-gaap:RetainedEarningsMember 2009-12-31 0000066756 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2009-12-31 0000066756 us-gaap:DeferredCompensationShareBasedPaymentsMember 2009-12-31 0000066756 us-gaap:CommonStockMember 2009-12-31 0000066756 2010-06-30 0000066756 2010-12-31 0000066756 us-gaap:RetainedEarningsMember 2010-12-31 0000066756 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2010-12-31 0000066756 us-gaap:DeferredCompensationShareBasedPaymentsMember 2010-12-31 0000066756 us-gaap:CommonStockMember 2010-12-31 0000066756 2010-01-01 2010-12-31 0000066756 us-gaap:RetainedEarningsMember 2010-01-01 2010-12-31 0000066756 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2010-01-01 2010-12-31 0000066756 us-gaap:DeferredCompensationShareBasedPaymentsMember 2010-01-01 2010-12-31 0000066756 us-gaap:CommonStockMember 2010-01-01 2010-12-31 0000066756 2007-12-31 0000066756 us-gaap:RetainedEarningsMember 2007-12-31 0000066756 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2007-12-31 0000066756 us-gaap:DeferredCompensationShareBasedPaymentsMember 2007-12-31 0000066756 us-gaap:CommonStockMember 2007-12-31 0000066756 2011-02-01 iso4217:USD xbrli:shares iso4217:USD xbrli:shares <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 9.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Short-Term and Long-Term Debt</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGH T: bold">Short-Term Debt. </font>Total short-term debt outstanding as of December 31, 2010, was $14.4 million ($7.1 million at December&#160;31,&#160;2009) and consisted of long-term debt due within one year and notes payable. (See ALLETE consolidated balance sheet.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of December 31, 2010, we had bank lines of credit aggregating $154.0 million ($157.0 million at December 31, 2009), the majority of which expire in January 2012. We expect to enter into new bank lines of credit during 2011 to replace the expiring facility. These bank lines of credit are available to provide short-term bank loans and credit support for commercial paper. At December 31, 2010, $1.0 million ($69.2 million at December&#160;31, 2009) was drawn on our lines of credit leaving a $153.0 million balance available for use ($87.8 million at December 31, 2009). In December 2009, we drew $65.0 million on our $150.0 million syndicated revolving credit facility to temporarily fund the purchase of the 250 kV DC transmission line. In February 2010, we issued $80.0 million of First Mortgage Bonds (Bonds) (see Long-Term Debt, below). We used the proceeds from the sale of the Bonds to pay off the outstanding amount drawn on the line, resulting in the $65.0 million borrowing under our line of credit being classified as long-term debt at December 31, 2009.</font></div><div>&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On November 12, 2009, BNI Coal replaced a $6.0 million Promissory Note and Supplement (Line of Credit) with CoBANK, ACB with a $3.0 million Line of Credit and a $3.0 million term loan with CoBANK, ACB. The Line of Credit was renewed on December 22, 2010, and now expires on November 20, 2012. The Line of Credit is being used for general corporate purposes. As of December&#160;31, 2010, $1.0 million was drawn on the Line of Credit. The $3.0 million term loan has a fixed interest rate of 5.19 percent and is payable in 28 equal quarterly installments commencing January 20, 2010, and ending on October 20, 2016.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Long-Term Debt.</font> The aggregate amount of long-term debt maturing during 2011 is $13.4 million ($3.3&#160;million in 2012; $73.9 million in 2013; $19.5 million in 2014; $16.3 million in 2015; and $658.6 million thereafter). Substantially all of our electric plant is subject to the lien of the mortgages collateralizing various First Mortgage Bonds. The mortgages contain non-financial covenants customary in utility mortgages, including restrictions on our ability to incur liens, dispose of assets, and merge with other entities.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In February 2010, we issued $80.0 million in principal amount of unregistered First Mortgage Bonds in the private placement market in three series as follows:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff "><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issue Date</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Maturity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Principal Amount</font></div></td><td style="BORDER-BOTTOM : black 2px solid" valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Rate</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February 17, 2010</font></div></td><td valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">April 15, 2021</font></div></td><td valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT : 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15 Million</font></div></td><td valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.85%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February 17, 2010</font></div></td><td valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">April 15, 2025</font></div></td> ;<td valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30 Million</font></div></td><td valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.10%</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February 17, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT : 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">April 15, 2040</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35 Million</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.00%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justif y"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We used the proceeds from the sale of the bonds to pay off an outstanding balance of $65 million on our syndicated revolving credit facility, to fund utility capital investments and for general corporate purposes.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August 2010, we issued $75.0 million in principal amount of unregistered First Mortgage Bonds in the private placement market in two series as follows:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTO M: black 2px solid" valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issue Date</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Maturity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Principal Amount</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bott om" width="22%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Rate</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">August 17, 2010</font></div></td><td valign="bottom" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October 15, 2025</font></div></td><td valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><fo nt style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30 Million</font></div></td><td valign="bottom" width="22%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.90%</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">August 17, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Apri l 15, 2040</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$45 Million</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="22%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.82%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We used the proceeds to fund utility capital investments and for general corporate purposes.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For the February and August 2010 bond issuances (the Bonds), we have the option to prepay all or a portion of the Bonds at our discretion, subject to a make-whole provision. The Bonds are subject to the terms and conditions of our utility mortgage. The Bonds were sold in reliance on an exemption from registration under Section 4(2) of the Securities Act of 1933, as amended, to institutional accredited investors.</font></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-Term Debt</font></div></td><td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDEN T: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width= "8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">First Mortgage Bonds</font></div></td><td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.86% Series Due 2013</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$60.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$60.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.94% Series Due 2014</font></div></td><td valign="top" align="right" width="8%"><div style="D ISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18.0</font></div></td><td valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.70% Series Due 2016</font></div></td><td valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT - -FAMILY: times new roman">20.0</font></div></td><td valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.17% Series Due 2019</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPL AY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.28% Series Due 2020</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FO NT-FAMILY: times new roman">35.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.85% Series Due 2021</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="botto m" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.95% Pollution Control Series F Due 2022</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">111.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">111.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0 pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.02% Series Due 2023</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;4.90 % Series Due 2025</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.10% Series Due 2025</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: bl ock; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.99% Series Due 2027</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; F ONT-FAMILY: times new roman">60.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.69% Series Due 2036</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.0</font></div></td><td valign="bottom" align="right" width="8%"><div style= "DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;6.00% Series Due 2040</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="D ISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;5.82% Series Due 2040</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div> ;</td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SWL&amp;P First Mortgage Bonds</font></div></td><td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.25% Series Due 2013</font></div></td><td valign="top" ali gn="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.0</font></div></td><td valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Senior Unsecured Notes 5.99% Due 2017</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right "><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Variable Demand Revenue Refunding Bonds Series 1997 A, B, and C Due 2012 &#8211; 2020</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ti mes new roman">28.3</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Industrial Development Revenue Bonds 6.5% Due 2025</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.0</font></div></td><td valign="bottom" align="right" width="8%"> ;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Industrial Development Variable Rate Demand Refunding</font></div></td><td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MAR GIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revenue Bonds Series 2006 Due 2025</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27.8</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style=" DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Line of Credit Facility <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">65.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT : 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Long-Term Debt, 1.0% &#8211; 8.0% Due 2011 &#8211; 2037</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">36.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT- INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Long-Term Debt</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">785.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">701.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10p t; FONT-FAMILY: times new roman">Less: Due Within One Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.2</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ti mes new roman">Net Long-Term Debt</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$771.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$695.8</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 29px"> <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;(a)</font></div></td><td width="1212"><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">A portion of the proceeds from the issuance on February 17, 2010, of $80 million principal amount of First Mortgage Bonds due in 2021, 2025 and 2040, was used to repay the outstanding borrowings on the Line of Credit Facility as of December 31, 2009.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Fin ancial Covenants.</font> Our long-term debt arrangements contain customary covenants. In addition, our lines of credit and letters of credit supporting certain long-term debt arrangements contain financial covenants. The most restrictive covenant requires ALLETE&#160;to maintain a ratio of its Funded Debt to Total Capital (as the amounts are calculated in accordance with the respective long-term debt arrangements) of less than or equal to 0.65 to 1.00 measured quarterly. As of December 31, 2010, our ratio was approximately 0.43 to 1.00. Failure to meet this covenant would give rise to an event of default if not cured after notice from the lender, in which event ALLETE may need to pursue alternative sources of funding. Some of ALLETE&#8217;s debt arrangements contain &#8220;cross-default&#8221; provisions that would result in an event of default if there is a failure under other financing arrangements to meet payment terms or to observe other covenants that would result in an acceleratio n of payments due. As of December 31, 2010, ALLETE was in compliance with its financial covenants.</font></div> FY No 72900000 79300000 22700000 0 0 0 0 0 0 0 0 0 72900000 79300000 22700000 -6000000 2800000 800000 0 0 0 -6000000 2800000 800000 0 0 0 0 0 0 19200000 -76300000 78700000 2200000 2100000 1800000 -3100000 100000 -3100000 34300000 32200000 29300000 <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 18.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Quarterly Financial Data (Unaudited)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Information for any one quarterly period is not necessarily indicative of the results which may be expected for the year.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Quarter Ended</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Mar. 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%">& lt;div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jun. 30</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Sept. 30</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dec. 31</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions Except Earnings Per Share</font></div>< /td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td valign="bottom" width="11%"><font style="DIS PLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Revenue</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"> ;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$233.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$211.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$224.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-IN DENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$238.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$46.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MA RGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$22.7</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align= "left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$23.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$19.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLA Y: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$19.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Earnings Per Share of Common Stock</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMIL Y: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.68</font> ;</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.57</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.57</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.38</font></div></td></tr><tr bgcolor="#cceef f"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Diluted</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.68</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.57</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign= "bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.56</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.38</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"></font>&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">& lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: i nline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Revenue</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$199.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$164.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$178.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$216.0</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31 .1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$25.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$33.8</font></div></td></tr><tr bgco lor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$16.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.4</font></div></td><td style="BORDER - -BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$16.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$18.7</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Earnings Per Share of Common Stock</font></div></td><td valign="bottom" width="11%"><font style="DIS PLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.55</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.29</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.49</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; M ARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.56</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Diluted</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.55</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" ali gn="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.29</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.49</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.56</font></div></td></tr></table></div> <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 4.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Jointly-Owned Electric Facility</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Following are our in vestments in jointly owned plants and the related ownership percentages as of December 31, 2010:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pla nt in Service</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Depreciation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Construction Work in Progress</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">% Ownership</font></div></td></tr><tr bgcolor="white"><td valign="top" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT - -SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width=" 12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Boswell Unit 4</font></div></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$407.5</font></div></td><td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </f ont></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$175.5</font></div></td><td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$19.6</font></div></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="cen ter"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CapX2020</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER - -BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.3</font></div></td><td st yle="BORDER-BOTTOM: black 2px solid" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.3 &#8211; 14.7</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160 ; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$407.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$175.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">& amp;#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Time s New Roman">We own 80 percent of the 585-MW Boswell Energy Center Unit 4 (Boswell Unit 4). While we operate the plant, certain decisions about the operations of Boswell Unit 4 are subject to the oversight of a committee on which we and WPPI Energy, the owner of the remaining 20 percent of Boswell Unit 4, have equal representation and voting rights. Each of us must provide our own financing and is obligated to pay our ownership share of operating costs. Our share of direct operating expenses of Boswell Unit 4 is included in operating expense on our consolidated statement of income. We are a participant in the CapX2020 initiative to ensure reliable electric transmission and distribution in the surrounding region, along with other electric cooperatives, municipals, and investor-owned utilities.&#160;We are currently participating in three CapX2020 projects with varying ownership percentages.</font></div> false 54500000 69700000 75600000 0 0 0 0 0 0 0 0 0 0 0 0 155000000 111400000 198700000 2.19 1.89 2.82 1805600000 1622700000 Yes 1400000 600000 1500000 248900000 318500000 301100000 16300000 -18300000 -1800000 5200000 5300000 5900000 -3000000 -7300000 -200000 10-K 1214198439 54000000 70000000 76100000 0 0 0 0 0 0 0 0 0 0 0 0 3700000 0 3700000 0 0 23300000 44900000 25700000 102000000 0 0 -3700000 7100000 6500000 10100000 -4200000 -5800000 -3300000 34200000 32200000 29200000 325100000 279500000 305600000 6700000 0 <div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 1.</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Operations and Significant Accounting Policies</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">< ;font style="DISPLAY: inline; FONT-WEIGHT: bold">Financial Statement Preparation.</font> References in this report to &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; are to ALLETE and its subsidiaries, collectively. We prepare our financial statements in conformity with accounting principles generally accepted in the United States of America. These principles require management to make informed judgments, best estimates, and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results could differ from those estimates.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Subsequent Events. </font>The Company performed an evaluatio n of subsequent events for potential recognition and disclosure through the time of the financial statements issuance.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Principles of Consolidation.</font> Our consolidated financial statements include the accounts of ALLETE and all of our majority-owned subsidiary companies. All material intercompany balances and transactions have been eliminated in consolidation.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DIS PLAY: inline; FONT-WEIGHT: bold">Business Segments.</font> Our Regulated Operations and Investments and Other segments were determined in accordance with the guidance on segment reporting. Segmentation is based on the manner in which we operate, assess, and allocate resources to the business. We measure performance of our operations through budgeting and monitoring of contributions to consolidated net income by each business segment.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Regulated Operations </font>includes retail and wholesale rate-regulated electric, natural gas, and water services in northeastern Minnesota and northwestern Wisconsin along with our Investment in ATC. Minnesota Power provides regulated utility electric service to 146,000 retail customers in northeastern Minnesota. SWL&amp;P, a wholly-owned subsidiary, provides regulated utility electric, natural gas and water service in northwestern Wisconsin to 15,000 electric customers, 12,000 natural gas customers and 10,000 water customers. Regulated utility rates are under the jurisdiction of Minnesota, Wisconsin and federal regulatory authorities. Our Investment in ATC includes our approximate 8 percent equity ownership interest in ATC, a Wisconsin-based utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. (See Note 6. Investment in ATC.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold"& gt;Investments and Other</font> is comprised primarily of BNI Coal, our coal mining operations in North Dakota, and ALLETE Properties, our Florida real estate investment. This segment also includes a small amount of non-rate base generation, approximately 7,000 acres of land available-for-sale in Minnesota, and earnings on cash and investments.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BNI Coal, a wholly-owned subsidiary, mines and sells lignite coal to two North Dakota mine-mouth generating units, one of which is Square Butte. In 2010, Square Butte supplied approximately 50 percent (227.5 MW) of its output to Minnesota Power under a long-term contract. (See Note 10. Commitments, Guarantees and Contingencies.) Coal sales are recognized when delivered at the cos t of production plus a specified profit per ton of coal delivered.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ALLETE Properties is our Florida real estate investment. Our current strategy for the assets is to complete and maintain key entitlements and infrastructure improvements without requiring significant additional investment, and sell the portfolio over time or in bulk transactions.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Full profit recognition is recorded on sales upon closing, provided that cash collections are at le ast 20 percent of the contract price and the other requirements under the guidance for sales of real estate, are met. In certain cases, where there are obligations to perform significant development activities after the date of sale, we recognize profit on a percentage-of-completion basis. From time to time, certain contracts with customers allow us to receive participation revenue from land sales to third parties if various formula-based criteria are achieved.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In certain cases, we pay fees or construct improvements to mitigate offsite traffic impacts. In return, we receive traffic impact fee credits as a result of some of these expenditures. We recognize revenue from the sale of traffic impact fee credits when payment is rec eived.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Land held-for-sale is recorded at the lower of cost or fair value determined by the evaluation of individual land parcels and is included in Other Investments on our consolidated balance sheet. Real estate costs include the cost of land acquired, subsequent development costs and costs of improvements, capitalized development period interest, real estate taxes and payroll costs of certain employees devoted directly to the development effort. These real estate costs incurred are capitalized to the cost of real estate parcels based upon the relative sales value of parcels within each development project in accordance with the accounting standards for real estate. The cost of real estate includes the actual costs incurred and the estimate of future completion costs allocated to the real estate sold based upon the relative sales value method. Whenever events or circumstances indicate that the carrying value of the real estate may not be recoverable, impairments would be recorded and the related assets would be adjusted to their estimated fair value, less costs to sell. (See Note 7. Investments.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Cash and Cash Equivalents.</font> We consider all investments purchased with original maturities of three months or less to be cash equivalents.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TE XT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Supplemental Statement of Cash Flow Information</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated Statement of Cash Flows</font></div></td><td valign="bottom" width="32%" colspan="3"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" wi dth="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Supplemental Disclosure</font></div></td><td valign="bottom" width="32%" colspan="3"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: t imes new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="middle" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </fon t></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash Paid During the Period for</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="D ISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest &#8211; Net of Amounts Capitalized</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.7</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.8</font></div></td> <td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$25.2</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Taxes (Net of refunds received of $57.1, $6.7 and $&#8211;) <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(54.2)</font></di v></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(5.6)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="68%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-F AMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Noncash Investing and Financing Activities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </fo nt></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase (Decrease) in Accounts Payable for Capital Additions to Property, Plant and Equipment</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$7.5</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(24.1)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">AFUDC &#8211; Equity</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.2</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.1pt" align="right">& lt;font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.8</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.3</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ALLETE Common Stock contributed to the Pension Plan</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLA Y: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(12.0)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">< ;tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Due to bonus depreciation provisions in the Small Business Jobs Act of 2010 and the American Recovery and Reinvestment Act of 2009, lower estimated tax payments were made in 2010 and 2009. Refunds received in 2010 resulted from a 2009 NOL which was utilized by carrying it back against prior years&#8217; taxable income and the completion of a state income tax audit.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justi fy"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Accounts Receivable.</font> Accounts receivable are reported on the balance sheet net of an allowance for doubtful accounts. The allowance is based on our evaluation of the receivable portfolio under current conditions, overall portfolio quality, review of specific problems and such other factors that, in our judgment, deserve recognition in estimating losses.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounts Receiv able</font></div></td><td valign="top" width="22%" colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="11%"><div style="DISPLAY: block; MARG IN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2009</font></font></div></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></ td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Trade Accounts Receivable</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT- FAMILY: times new roman">Billed</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$67.6</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$56.5</font></div></td></tr><tr bgcolor="white"><td valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unbilled</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MAR GIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18.9</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less: Allowance for Doubtful Accounts</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0p t" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.9</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Trade Accounts Receivable</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align ="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">85.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">70.7</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Taxes Receivable</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Accounts Receivable &#8211; Net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right" ><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$99.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$118.5</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Concentration of Credit Risk.</font> Financial instruments that subject us to concentrations of credit risk consist primarily of accounts receivable. Minnesota Power sells electricity to 10 Large Power Customers. Receivables from these customers totaled $17.3 million at December 31, 2010 ($9.6 million at December 2009). Minnesota Power does not obtain collateral to support utility receivables, but monitors the credit standing of major customers. In addition, our taconite-producing Large Power Customers are on a weekly billing cycle, which allows us to closely manage collection of amounts due.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Long-Term Finance Receivables. </font>Long-term finance receivables relating to our real estate operations are collateralized by property sold, accrue interest at market-based rates and are net of an allowance for doubtful accounts. We assess delinquent finance receivables by comparing the balance of such receivable to the estimated fair value of the collateralized property. If the fair value of the property is less than the finance receivable, we record a reserve for the difference. We estimate fair value based on recent property tax assessed values or current appraisals. (See Note 7. Investments.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Available-for-Sale Securities. </font>Available-for-sale securities are recorded at fair value with unrealized gains and losses included in accumulated other comprehensive income (loss), net of tax. Unrealized losses that are other than temporary are recognized in earnings. We use the specific identification method as the basis for determining the cost of securities sold. Our policy is to review available-for-sale securities for other than temporary impairment on a quarterly basis by assessing such factors as the share price trends and the impact of overall market conditions. (See Note 7. Investments.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Inventories.</font> Inventories are stated at the lower of cost or market. Amounts removed from inventory are recorded on an average cost basis.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inventories</font></div></td><td valign="bottom" width="22%" colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><d iv style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fuel</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$22.9</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$23.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><fon t style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Materials and Supplies</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">37.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34.0</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DIS PLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Inventories</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$60.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$57.0</font></div></td></tr></table></div></div><div>&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Rom an"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Property, Plant and Equipment.</font> Property, plant and equipment are recorded at original cost and are reported on the balance sheet net of accumulated depreciation. Expenditures for additions, significant replacements, improvements and major plant overhauls are capitalized; maintenance and repair costs are expensed as incurred. Gains or losses on non-rate base property, plant and equipment are recognized when they are retired or otherwise disposed. When regulated utility property, plant and equipment are retired or otherwise disposed, no gain or loss is recognized in accordance with the accounting standards for Regulated Operations. Our Regulated Operations capitalize AFUDC, which includes both an interest and equity component. AFUDC represents the cost of both debt and equity funds used to finance utility plant additions during construction periods. AFUDC amounts capitalized are included in rate base and are recovered from customers as the related property is depreciated. However, the MPUC has approved current cost recovery for several large capital projects recently, resulting in lower recognition of AFUDC. (See Note 3. Property, Plant and Equipment.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Long-Lived Asset Impairments.</font> We account for our long-lived assets at depreciated historical cost. A long-lived asset is tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. We conduct this assessment in accordance with the accounting standards for impairment or disposal of long-lived assets. Judgments and uncertainties affecting the application of accounting for asset impairment include economic conditions affecting market valuations, changes in our business strategy, and changes in our forecast of future operating cash flows and earnings. We would recognize an impairment loss only if the carrying amount of a long-lived asset is not recoverable from its undiscounted future cash flows. Management judgment is involved in both deciding if testing for recoverability is necessary and in estimating undiscounted future cash flows.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Derivatives.</font> We review all material power purchase and sales contracts for derivative treatment to determine if they qualify for the normal purchase normal sale exception under the guidance for derivat ives and hedging.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Accounting for Stock-Based Compensation. </font>We apply the fair value recognition guidance for share-based payments. Under this guidance, we recognize stock-based compensation expense for all share-based payments granted, net of an estimated forfeiture rate. (See Note 16. Employee Stock and Incentive Plans.)</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff">& lt;td valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prepayments and Other Current Assets</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: b lack 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -0.9pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font> ;</td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Fuel Adjustment Clause (See Note 5. Regulatory Matters)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$20.6</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FA MILY: times new roman">$15.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.8</font>& lt;/div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Prepayments and Other Current Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$28.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$24.3</fo nt></div></td></tr></table></div><div><br />&#160;</div><div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Non-Current Liabilities</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="80%"><div style="DISPL AY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISP LAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Future Benefit Obligation Under Defined Benefit Pension and Other Postretirement Plans</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10 pt; FONT-FAMILY: times new roman">$231.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$231.2</font></div></td></tr><tr bgcolor="#cceeff"><td valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Asset Retirement Obligation (See Note 3. Property, Plant and Equipment)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.3</font></div></td><td valign ="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><di v style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">49.2</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Other Non-Current Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$324.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%">< div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$325.0</font></div></td></tr></table></div><br /><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Environmental Liabilities.</font> We review environmental matters for disclosure on a quarterly basis. Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the balance sheet at undiscounted amounts and exclude claims for recoveries fro m insurance or other third parties. Costs related to environmental contamination treatment and cleanup are charged to operating expense unless recoverable in rates from customers. (See Note 10. Commitments, Guarantees and Contingencies.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Revenue Recognition.</font> Regulated utility rates are under the jurisdiction of Minnesota, Wisconsin and federal regulatory authorities. Customers are billed on a cycle basis. Revenue is accrued for service provided but not billed. Regulated utility electric rates include adjustment clauses that: (1) bill or credit customers for fuel and purchased energy costs above or below the base levels in rate schedules; (2) bill retail custo mers for the recovery of conservation improvement program expenditures not collected in base rates; and (3) bill customers for the recovery of certain environmental and renewable energy expenditures. Fuel and purchased power expense is deferred to match the period in which the revenue for fuel and purchased power expense is collected from customers pursuant to the fuel adjustment clause.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Unamortized Discount and Premium on Debt.</font> Discount and premium on debt are deferred and amortized over the terms of the related debt instruments using the straight-line method.</font></div><div>&#160;</div><div style="DISPLAY: block; MARGIN-LEFT : 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Income Taxes.</font> We file a consolidated federal income tax return. We account for income taxes using the liability method in accordance with the accounting standards for income taxes. Under the liability method, deferred income tax assets and liabilities are established for all temporary differences in the book and tax basis of assets and liabilities, based upon enacted tax laws and rates applicable to the periods in which the taxes become payable. Due to the effects of regulation on Minnesota Power and SWL&amp;P, certain adjustments made to deferred income taxes are, in turn, recorded as regulatory assets or liabilities. Federal investment tax credits have been recorded as deferred credits and are being amortized to income tax expense over the service lives of the related property. In accordance with the accounting standards for uncertainty in income taxes, we are required to recognize in our financial statements the largest tax benefit of a tax position that is &#8220;more-likely-than-not&#8221; to be sustained on audit, based solely on the technical merits of the position as of the reporting date. The term &#8220;more-likely-than-not&#8221; means more than 50 percent likely. (See Note 13. Income Tax Expense.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Excise Taxes.</font> We collect excise taxes from our customers levied by government entities. These taxes are stated separately on the billing to the customer and recorded as a liability to be remitted to the government entity. We ac count for the collection and payment of these taxes on a net basis.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Recently Adopted Accounting Standards.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Receivables</font>.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>In July 2010, the FASB issued an accounting standards update requiring expanded disclosures on allowances for credit losses and the credit quality of the financing receivables of an entity. This guidance also requires a roll forward schedule of the allowance for credit losses for each reporting period. The guidance for greater transparency was adopted December 31, 2010, and did not have an impact on our consolidated financial position, results of operations or cash flows. The guidance for the roll forward requirement is effective January 1, 2011, and is not expected to have an impact on our consolidated financial position, results of operations or cash flows as the amended guidance provides only disclosure requirements.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Derivative Instruments and Hedging Activities.</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"> ;&#160;</font>In March 2010, the FASB issued new guidance on the accounting for credit derivatives that are embedded in beneficial interests in securitized financial assets. This new guidance eliminated the scope exception for embedded credit derivatives and provided new guidance on the evaluation to be performed. This guidance was effective June 15, 2010. As of December 31, 2010, we did not have any embedded credit derivatives.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Subsequent Events.</font> In February 2010, the FASB issued an accounting standards update that eliminates the requirement to disclose the date through which subsequent events have been evaluated. The amended guidance was adopted and effective during the first quarter of 2010, and did not have an impact on our consolidated financial position, results of operations or cash flows.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Fair Value.</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>In January 2010, the FASB issued an amendment to the fair value measurement and disclosure standard improving disclosures about fair value measurements. This amended guidance requires separate disclosure of significant transfers in and out of Levels 1 and 2 and the reasons for the transfers. The amended guidance also requires that in the Level 3 reconciliation, the information about purchases, sales, issuances, and settle ments be disclosed separately on a gross basis rather than as one net number. The guidance for the Level 1 and 2 disclosures was adopted January&#160;1,&#160;2010, and did not have an impact on our consolidated financial position, results of operations or cash flows. The guidance for the activity in Level 3 disclosures is effective January 1, 2011, and is not expected to have an impact on our consolidated financial position, results of operations or cash flows as the amended guidance provides only disclosure requirements.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Variable Interest Entities (VIEs).</font> In June 2009, the FASB issued authoritative guidance changing the approach to determine a VIE&a mp;#8217;s primary beneficiary and requiring ongoing assessments of whether an enterprise is the primary beneficiary of a VIE. This guidance also requires additional disclosures about a company&#8217;s involvement with VIEs and any significant changes in risk exposure due to that involvement. This guidance was adopted January 1, 2010, and did not have an impact on our consolidated financial position, results of operations or cash flows.</font></div> 0000066756 Yes -500000 300000 500000 -500000 300000 500000 0 0 0 0 0 0 0 0 0 41400000 106300000 201200000 20500000 65200000 71100000 -33800000 -17900000 -22900000 -4300000 0 11200000 1.76 1.76 1.72 771200000 653100000 679200000 80500000 64700000 55500000 22000000 20600000 <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 5.</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Regulatory Matters</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIG HT: bold">Electric Rates.</font> Entities within our Regulated Operations segment file for periodic rate revisions with the MPUC, the FERC or the PSCW.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">2010 Rate Case.</font> On November 2, 2009, Minnesota Power filed an $81 million retail rate increase request to recover the costs of significant investments to ensure current and future system reliability, enhance environmental performance, and bring new renewable energy to northeastern Minnesota. Interim rates were put into effect on January&#160;1,&#160;2010, and were originally estimated to increase revenues by $48.5 million in 2010. In April&#160;2010, we adjusted our initial filing for eve nts that had occurred since November 2009 &#8211; primarily increased sales to our industrial customers &#8211; resulting in a retail rate increase request of $72 million, a return on equity request of 11.25 percent, and a capital structure consisting of 54.29 percent equity and 45.71 percent debt. As a result of these increased sales, interim rates were approximately $52 million for 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On November 2, 2010, Minnesota Power received a written order from the MPUC approving a retail rate increase of approximately $54 million, a 10.38 percent return on common equity and a 54.29 percent equity ratio, subject to reconsideration. In a hearing on January 19, 2011, the MPUC denied all reconsideration requests. Final rates w ill be implemented after acceptance of the compliance filing, estimated in the second quarter of 2011. Minnesota Power will continue to collect interim rates from its customers until the new rates go into effect. We expect no interim rate refunds will be issued.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">FERC-Approved Wholesale Rates. </font>Minnesota Power&#8217;s non-affiliated municipal customers consist of 16 municipalities in Minnesota and 1 private utility in Wisconsin. SWL&amp;P, a wholly-owned subsidiary of ALLETE, is also a private utility in Wisconsin and a customer of Minnesota Power. In 2008, Minnesota Power entered into formula-based rate contracts with these customers.&#160;The rat es included in these contracts are calculated using a cost-based formula methodology that is set at the beginning of the year using estimated costs, and provides for a true-up calculation for actual costs. The estimated true-up is recorded in the current year, then finalized and billed or paid to customers in the following year.&#160;The contracts include a termination clause requiring a 3 year notice to terminate. To date, no termination notices have been received.</font></div><div>&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">2010 Wisconsin Rate Increase.</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">&#160;</font>During 2010, SWL&amp;P&#8217;s retail rates were based on a 2008 PSCW retail rate order, which was effective January 1, 2009. SWL&amp;P&#8217;s 2011 retail rates are based on a 2010 PSCW retail rate order, effective January&#160;1,&#160;2011, and allows for a 10.9 percent return on common equity. The new rates reflect a 2.4 percent average increase in retail utility rates for SWL&amp;P customers (a 12.80 percent increase in water rates, a 2.49 percent increase in natural gas rates and a 0.68 percent increase in electric rates). On an annualized basis, the rate increase will generate approximately $2 million in additional revenue.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Deferred Regulatory Assets and Liabilities.</font> Our regulated utility operations are subject to the accounting g uidance on Regulated Operations. We capitalize incurred costs, as regulatory assets, which are probable of recovery in future utility rates. Regulatory liabilities<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>represent amounts expected to be refunded or credited to customers in rates. No regulatory assets or liabilities are currently earning a return.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Regulatory Assets and Liabilities</font></div></td><td valign="top" width="11%"><font style="D ISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FON T-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Regulatory Assets</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Future Benefit Obligations Under</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&# 160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Defined Benefit Pension and Other Postretirement Plans <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$257.9</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$235.8</font ></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Boswell Unit 3 Environmental Rider <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(b)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.5</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.9</font></div></td& gt;</tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Fuel <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(c)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.6</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.8</font></div></td></tr><tr bgcolor="#cceeff"><t d valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Taxes</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.3</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.7</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" alig n="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Asset Retirement Obligation</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.8</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred MISO Costs</font ></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.9</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Premium on Reacquired Debt</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt ; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.8</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Regulatory Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font sty le="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$330.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$308.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="78%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="7 8%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Regulatory Liabilities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Taxes</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-I NDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$23.4</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$25.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Plant Removal Obligations</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16.9</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.3</font></div></td><td style="B ORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Regulatory Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.6</font></div></td><td style ="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$47.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">See Note 15. Pension and Other Postretirement B enefit Plans.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(b)</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">MPUC-approved current cost recovery rider related to environmental improvements that were placed in service in November 2009. As part of our 2010 rate case, on November 2, 2010, the MPUC approved a proposal to move the rider balance to Property, Plant and Equipment to recover in rate base, which will be effective upon a final rate order.</font></div></td></tr& gt;</table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(c)</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">As of December 31, 2009, under our 2008 rate case, $5 million of this balance related to deferred fuel costs incurred under the former base cost of fuel calculation. During the fourth quarter of 2010, it was determined that the asset was no longer probable of recovery in future utility rates and was therefore written off.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current and Non-Current Deferred Regulatory Assets and Liabilities</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN - -RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"& gt;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Current Deferred Regulatory Assets <font style="DISPLAY: inline; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" alig n="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$20.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Non-Current Deferred Regulatory Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">310.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">293.2</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Regulatory Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT- SIZE: 10pt; FONT-FAMILY: times new roman">$330.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$308.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Current Deferred Regulatory Liabilities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</ font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Non-Current Deferred Regulatory Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.6</font></div></td&g t;<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$47.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Regulatory Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.6</font></div></td>< td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$47.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Current deferred regulatory assets c onsist of deferred fuel costs and are included in prepayments and other on the consolidated balance sheet.</font></div></td></tr></table></div> --12-31 ALLETE INC 827100000 929500000 976000000 742600000 380900000 385400000 399900000 350400000 -33000000 -24000000 -23200000 -4500000 -54900000 -45300000 -36800000 -64500000 534100000 613400000 636100000 461200000 -1600000 -7800000 -7400000 4600000 1800000 15600000 135800000 106000000 121800000 907000000 759100000 801000000 1624100000 1454100000 1000000 1900000 75400000 62100000 <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 10.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Commitments, Guarantees and Contingencies</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><fon t style="DISPLAY: inline; FONT-WEIGHT: bold">Power Purchase Agreements. </font>Our long-term PPAs have been evaluated under the accounting guidance for variable interest entities. We have determined that either we have no variable interest in the PPA, or where we do have variable interests, we are not the primary beneficiary; therefore, consolidation is not required. These conclusions are based on the fact that we do not have both control over activities that are most significant to the entity and an obligation to absorb losses or receive benefits from the entity&#8217;s performance. Our financial exposure relating to these PPA is limited to our fixed capacity and energy payments.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Square Butte PPA.</font> Minnesota Power has a power purchase agreement with Square Butte that extends through 2026 (Agreement). It provides a long-term supply of energy to customers in our electric service territory and enables Minnesota Power to meet power pool reserve requirements. Square Butte, a North Dakota cooperative corporation, owns a 455-MW coal-fired generating unit (Unit) near Center, North Dakota. The Unit is adjacent to a generating unit owned by Minnkota Power, a North Dakota cooperative corporation whose Class A members are also members of Square Butte. Minnkota Power serves as the operator of the Unit and also purchases power from Square Butte.</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Tim es New Roman">Minnesota Power is obligated to pay its pro&#160;rata share of Square Butte&#8217;s costs based on Minnesota Power&#8217;s entitlement to Unit output. Our output entitlement under the Agreement is 50 percent for the remainder of the contract, subject to the provisions of the Minnkota power sales agreement described below. Minnesota Power&#8217;s payment obligation will be suspended if Square Butte fails to deliver any power, whether produced or purchased, for a period of one year. Square Butte&#8217;s costs consist primarily of debt service, operating and maintenance, depreciation and fuel expenses. We expect debt service, operating and maintenance and depreciation expenses for Square Butte to increase in 2011 due to environmental compliance obligations. As of December 31,&#160;2010, Square Butte had total debt outstanding of $379.6 million. Annual debt service for Square Butte is expected to be approximately $39 million in each of the five years, 2011 through 2015. F uel expenses are recoverable through our fuel adjustment clause and include the cost of coal purchased from BNI Coal, our subsidiary, under a long-term contract.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Minnesota Power&#8217;s cost of power purchased from Square Butte during 2010 was $55.2 million ($53.9 million in 2009; $56.7&#160;million in 2008). This reflects Minnesota Power&#8217;s pro rata share of total Square Butte costs, based on the 50 percent output entitlement in 2010 (50 percent in 2009; 55 percent in 2008). Included in this amount was Minnesota Power&#8217;s pro rata share of interest expense of $10.2 million in 2010 ($11.0 million in 2009; $11.6 million in 2008). Minnesota Power&#8217;s payments to Square Butte are approved as a pu rchased power expense for ratemaking purposes by both the MPUC and the FERC.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Minnkota Power Sales Agreement.</font> In conjunction with the purchase of the existing 250 kV DC transmission line from Square Butte on December 31, 2009, Minnesota Power entered into a contingent power sales agreement with Minnkota Power. Under the power sales agreement, Minnesota Power will sell a portion of its output from Square Butte to Minnkota, resulting in Minnkota&#8217;s net entitlement increasing and Minnesota Power&#8217;s net entitlement decreasing until Minnesota Power&#8217;s share is eliminated at the end of 2025.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No power will be sold under this agreement until Minnkota Power has placed in service a new AC transmission line, which is anticipated to occur in 2013. This new AC transmission line will allow Minnkota to transmit its entitlement from Square Butte directly to its customers, which, in turn, will provide Minnesota Power with additional capacity on the DC line to transmit new wind generation.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Wind PPA. </font>In 2006 and 2007, we entered into two long-term wind PPA with an affiliate of NextEra Energy, Inc. to purchase the output from two wind facilities, Oliver Wind I (50 MW) and Oliver Wind II (48 MW), located near Center, North Dakota. Each agreement is for 25 years and provides for the purchase of all output from the facilities at fixed prices. There are no fixed capacity charges, and we only pay for energy as it is delivered to us.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Hydro PPA.</font> We have a PPA with Manitoba Hydro that began in May 2009 and expires in April 2015. Under the agreement with Manitoba Hydro, Minnesota Power is currently purchasing 50 MW of capacity and the energy associated with that capacity. Both the cap acity price and the energy price are adjusted annually by the change in a governmental inflationary index.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April 30, 2010, Minnesota Power signed a definitive agreement with Manitoba Hydro, subject to MPUC approval, to purchase surplus energy beginning in May 2011 through April 2022. This energy-only transaction primarily consists of surplus hydro energy on Manitoba Hydro&#8217;s system that is delivered to Minnesota Power on a non-firm basis.&#160;The pricing is based on forward market prices. Under this agreement with Manitoba Hydro, Minnesota Power will be purchasing at least one million MWh of energy over the contract term. On September 1, 2010, we filed a petition with the MPUC to approve our PPA with Manitoba Hydro. On October 28, 2010, the OES filed comments recommending approval.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">North Dakota Wind Development</font><font style="DISPLAY: inline; FONT-STYLE: italic">.</font> On December 31, 2009, we purchased an existing 250 kV DC transmission line from Square Butte for $69.7 million. The 465-mile transmission line runs from Center, North Dakota, to Duluth, Minnesota. We use this line to transport increasing amounts of wind energy from North Dakota while gradually phasing out coal-based electricity currently being delivered to our system over this transmission line from Square Butte&#8217;s lignite coal-fired generating unit.</font></div>< div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Bison 1 is a two phase, 82 MW wind project in North Dakota. All permitting has been received and the first phase was completed in 2010. Phase one included construction of a 22-mile, 230 kV transmission line and the installation of 16 2.3 MW wind turbines, all of which were in-service at the end of 2010. Phase two is expected to be completed late in 2011 and consists of the installation of 15 3.0 MW wind turbines. Bison 1 is expected to have a total capital cost of approximately $177 million, of which $121 million was spent through December 31, 2010. In 2009, the MPUC approved Minnesota Power&#8217;s petition seeking current cost recovery eligibility for investments and expenditures related to Bison 1, and in July 2010, the MPUC approved our petition establishing rates effective August 1, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Leasing Agreements.</font> BNI Coal is obligated to make lease payments for a dragline totaling $2.8&#160;million annually for the lease term which expires in 2027. BNI Coal has the option at the end of the lease term to renew the lease at fair market value, to purchase the dragline at fair market value, or to surrender the dragline and pay a $3.0 million termination fee. We lease other properties and equipment under operating lease agreements with terms expiring through 2016. The aggregate amount of minimum lease payments for all operating leases is $8.1 million in 2011, $8.4 million in 2012, $8.5&#160;million i n 2013, $8.7 million in 2014, $8.4 million in 2015 and $44.7 million thereafter. Total rent and lease expense was $9.4 million in 2010 ($9.3&#160;million in 2009; $8.5 million in 2008).</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Coal, Rail and Shipping Contracts</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">.</font> We have coal supply agreements and transportation agreements providing for the purchase and delivery of a significant portion of our coal requirements. These coal and transportation agreements, including option terms, expire in various years between 2011 and 2015. Our minimum annual payment obligation for 2011 is $41.0 million, 2012 is $1.6 million, and 2013 is $1.4 million . Our minimum annual payment obligations will increase when annual nominations are made for coal deliveries in future years. The delivered costs of fuel for Minnesota Power&#8217;s generation are recoverable from Minnesota Power&#8217;s utility customers through the fuel adjustment clause.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">CapX2020 Transmission Projects. </font>Minnesota Power is a participant in the CapX2020 initiative which represents an effort to ensure electric transmission and distribution reliability in Minnesota and the surrounding region for the future. CapX2020, which consists of electric cooperatives, municipals and investor-owned utilities, including Minnesota&#8217;s largest transmission owners, has assessed the transmission system and projected growth in customer demand for electricity through 2020. Studies show that the region's transmission system will require major upgrades and expansion to accommodate increased electricity demand as well as support renewable energy expansion through 2020. As future CapX2020 projects are identified, Minnesota Power may elect to participate on a project&#8211;by-project basis.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Minnesota Power is currently participating in three CapX2020 projects: the Fargo to St. Cloud project, the Monticello to St. Cloud project, which together total a 238-mile, 345 kV line from Fargo to Monticello, and the 70-mile, 230 kV line between Bemidji and Minnesota Power&#821 7;s Boswell Energy Center near Grand Rapids, Minnesota. Based on projected costs of the three transmission lines and the percentage agreements among participating utilities, Minnesota Power plans to invest between $100 million and $125 million in the CapX2020 initiative through 2015, of which $11.3 million was spent through December&#160;31,&#160;2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In July 2010, the MPUC granted a route permit for the 28-mile 345 kV transmission line between Monticello and St. Cloud. Construction of the project is expected to be complete in late 2011. The 210-mile 345 kV transmission line from St. Cloud to Fargo is expected to be complete by 2015. Construction for the Bemidji to Grand Rapids 230 kV line project commenced in Januar y 2011.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have an approved cost recovery rider in place for certain transmission expenditures, and our current billing factor was approved by the MPUC in June 2009. The billing factor allows us to charge our retail customers on a current basis for the costs of constructing certain transmission facilities plus a return on the capital invested. In our 2010 rate case we moved completed transmission projects from the current cost recovery rider to base rates. In July 2010, we filed for an updated billing factor that includes additional transmission projects and expenses, including the CapX2020 projects, which we expect to be approved in early 2011.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">& #160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Environmental Matters.</font></font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our businesses are subject to regulation of environmental matters by various federal, state and local authorities. Currently, a number of regulatory changes to the Clean Air Act, the Clean Water Act, and various waste management requirements are under consideration by both Congress and the EPA. Minnesota Power&#8217;s fossil fuel facilities will likely be subject to regulation under these proposals. Our intention is to reduce our e xposure to these requirements by reshaping our generation portfolio, over time, to reduce our reliance on coal.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We consider our businesses to be in substantial compliance with currently applicable environmental regulations and believe all necessary permits to conduct such operations have been obtained. Due to future restrictive environmental requirements through legislation and/or rulemaking, we anticipate that potential expenditures for environmental matters will be material and will require significant capital investments.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> ;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We review environmental matters on a quarterly basis. Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information become available. Accruals for environmental liabilities are included in the consolidated balance sheet at undiscounted amounts and exclude claims for recoveries from insurance or other third parties. Costs related to environmental contamination treatment and cleanup are charged to expense unless recoverable in rates from customers.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"& gt;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Air</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">. </font>The electric utility industry is heavily regulated both at the Federal and State level to address air emissions.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Minnesota Power&#8217;s generating facilities mainly burn low-sulfur western sub-bituminous coal. Square Butte, located in North Dakota, burns lignite coal. All of Minnesota Power&#8217;s generating facilities are equipped with pollution control equipment such as scrubbers, bag houses, and low NO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">x</font> technologies. At this time, these facilities are substantially compliant with applicable emission requirements.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">& #160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">New Source Review. </font>In August 2008, Minnesota Power received a Notice of Violation (NOV) from the United States EPA asserting violations of the New Source Review (NSR) requirements of the Clean Air Act at Boswell Units 1-4 and Laskin Unit 2. The NOV asserts that seven projects undertaken at these coal-fired plants between the years 1981 and 2000 should have been reviewed under the NSR requirements, and that the Boswell Unit 4 Title V permit was violated. Minnesota Power believes the projects were in full compliance with the Clean Air Act, NSR requirements and applicable permits.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0p t; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are engaged in discussions with the EPA regarding resolution of these matters, but we are unable to predict the outcome of these discussions. Since 2006, Minnesota Power has significantly reduced emissions at Laskin and Boswell, and continues to reduce emissions at Boswell. The resolution could result in civil penalties and the installation of control technology, some of which is already planned or completed for other regulatory requirements. Any costs of installing pollution control technology would likely be eligible for recovery in rates over time subject to MPUC and FERC approval in a rate proceeding. We are unable to predict the ultimate financial impact or the resolution of these matters at this time.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT : 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">EPA Transport Rule.</font> On July 6, 2010, the EPA proposed a rule known as the Transport Rule (TR) requiring 31 states, including Minnesota and the District of Columbia, to reduce power plant SO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2</font> and NO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">x</font> emissions that can significantly contribute to ozone and fine particle pollution problems in other states. If adopted, the TR will replace the Clean Air Interstate Rule (CAIR) that was issued by the EPA in March 2005. Minnesota was included as one of the original 28 CAIR states but, following Minnesota Power&#8217;s successful challenge to CAIR, the EPA granted an administrative stay of the CAIR requirements in Minnesota while it prepared the TR. The proposed TR res ponds to the United States Court of Appeals for the District of Columbia Circuit&#8217;s remand of CAIR by replacing and reforming provisions to address updated air quality standards, improved emissions data and reformed emissions transport modeling.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The EPA took public comments on the proposed rule through October 1, 2010, and plans to finalize the rule in June 2011. Emissions reductions are proposed to take effect in 2012, within one year of projected finalization of the rule.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE : 10pt; FONT-FAMILY: Times New Roman">The EPA has not yet determined whether trading of emission allowances between regulated generating units or states may be implemented. Since 2006, we have made substantial investments in pollution control equipment at our Laskin, Taconite Harbor and Boswell generating units which have significantly reduced emissions. These reductions may satisfy Minnesota Power&#8217;s obligations with respect to these requirements. We are unable to predict any additional compliance costs we might incur at this time.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Minnesota Regional Haze</font>. The federal regional haze rule requires states to submit state implementation plans (SIPs) to the EPA to address regional haze visibility impairment in 156 federally-protected parks and wilderness areas. Under the regional haze rule, certain large stationary sources, put in place between 1962 and 1977, with emissions contributing to visibility impairment are required to install emission controls, known as Best Available Retrofit Technology (BART). We have two steam units, Boswell Unit 3 and Taconite Harbor Unit 3, which are subject to BART requirements.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the regional haze rule, Minnesota was required to develop its SIP by December 2007. As a mechanism for demonstrating progress towards meeting the long-term regional haze goal, in April 2007 the MPCA advanced a draft conceptual SIP which relied on the im plementation of CAIR. However, a formal SIP was not filed at that time due to the United States Court of Appeals for the District of Columbia Circuit&#8217;s remand of CAIR. Subsequently, the MPCA requested that companies with BART eligible units complete and submit a BART emissions control retrofit study, which was completed for Taconite Harbor Unit 3 in November 2008. The retrofit work completed in 2009 at Boswell Unit 3 meets the BART requirements for that unit. In December 2009, the MPCA approved the SIP for submittal to the EPA for its review and approval. Approval by the EPA is pending on whether to approve the Minnesota SIP. If approved, Minnesota Power will have five years to bring Taconite Harbor Unit 3 into compliance. It is uncertain what controls will ultimately be required at Taconite Harbor Unit 3 in connection with the regional haze rule.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT - -INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">EPA National Emission Standards for Hazardous Air Pollutants (NESHAPs) for Electric Utility Units. </font>Under Section 112 of the Clean Air Act, the EPA is required to set emission standards for hazardous air pollutants for certain source categories. In December 2009, Minnesota Power and other utilities received an Information Collection Request from the EPA requiring that emissions data be provided and stack testing be performed in order to develop a database upon which to base future regulations. On March&#160;30,&#160;2010, Minnesota Power responded to the Information Collection Request. Stack testing was completed during the third quarter of 2010 and the results were submitted to the EPA. The EPA is subject to a consent decree which requires the EPA to propose a utility NESHAPs rule by March 2011, with the final rule by November 2011. As part of the NESHAPs rulemaking, EPA will develop Maximum Achievable Control Technology standards for utilities. Costs for complying with potential future mercury and other hazardous air pollutant regulations under the Clean Air Act cannot be estimated at this time.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Minnesota Mercury Emission Reduction Act.</font> Under Minnesota law, a mercury emissions reduction plan for Boswell Unit 4 is required to be submitted by July 1, 2015, with implementation no later than December 31, 2018. The statute also calls for an evaluation of a mercury control alternative which provides for environmental and public health benefits without imposi ng excessive costs on the utility&#8217;s customers. Costs for the Boswell Unit 4 emission reduction plan cannot be estimated at this time.</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Proposed and Finalized National Ambient Air Quality Standards. </font>The EPA is required to review the National Ambient Air Quality Standards (NAAQS) every five years. Each state is required to adopt plans describing how they will reduce emissions to attain these NAAQS if the state&#8217;s air quality is not in compliance with a NAAQS. These state plans often include more stringent air emission limitations on sources of air pollutants in the state. F our NAAQS have either recently been revised, or are currently proposed for revision, as described below.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Ozone NAAQS.</font> The EPA is proposing to more stringently control emissions that result in ground level ozone. In January 2010, the EPA proposed to reduce the eight-hour ozone standard and to adopt a secondary standard for the protection of sensitive vegetation from ozone-related damage. The EPA expects to issue final standards by July 2011. As proposed, states have until early 2014 to submit plans outlining how they will meet the standards.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISP LAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Particulate Matter NAAQS.</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub; FONT-STYLE: italic">&#160;</font>The EPA finalized the NAAQS Particulate Matter standards in September&#160;2006. The EPA established a more stringent 24-hour average fine particulate (PM<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2.5</font>) standard and kept the annual average fine particulate matter standard and the 24-hour coarse particulate matter standard unchanged. The District of Columbia Circuit Court of Appeals has remanded the PM<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2.5</font> standard to the EPA, requiring consideration of lower annual average standard values. The EPA has indica ted that ambient air quality monitoring for 2008 through 2010 will be used as a basis for states to characterize their attainment status. The EPA plans to finalize the new PM<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2.5</font> standards in 2011, and state attainment status determination will likely not occur prior to 2013. As early as late 2014, affected sources would have to take additional control measures if modeling demonstrates non-compliance at the property boundary.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">SO</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub; FONT-STYLE: italic">2</font><font style="DISPLAY: inline; FONT-STYL E: italic"> and NO</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub; FONT-STYLE: italic">2</font><font style="DISPLAY: inline; FONT-STYLE: italic"> NAAQS.</font> The EPA recently finalized a new one-hour NAAQS for SO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2</font> and NO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2</font>. Monitor data indicates that Minnesota will likely be in compliance with these new standards; however, the SO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2</font> NAAQS also requires the EPA to evaluate modeling data to determine attainment. It is unclear what the outcome of this evaluation will be. These NAAQS could also result in more stringent emission limits on our steam generating facilities, possibly resulting in additional control measures on some of our units.</font></div><div style="DISPLAY: block; TEXT-IN DENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are unable to predict the nature or timing of any additional NAAQS regulation or compliance costs we might incur at this time.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Climate Change.</font> Minnesota Power is addressing climate change by taking the following steps that also ensure reliable and environmentally compliant generation resources to meet our customer&#8217;s requirements:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"> <br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 36pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Expand our renewable energy supply.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 36pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></div></td><td>< ;div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Improve the efficiency of our coal-based generation facilities, as well as other process efficiencies.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 36pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Provide energy conservation initiatives for our customers and engage in other demand side efforts.</font></div></td></tr>< /table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 36pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Support research of technologies to reduce carbon emissions from generation facilities and support carbon sequestration efforts.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 36pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol , serif">&#183;&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Achieve overall carbon emission reductions.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The scientific community generally accepts that emissions of GHGs are linked to global climate change. Climate change creates physical and financial risk. These physical risks could include, but are not limited to, increased or decreased precipitation and water levels in lakes and rivers; increased temperatures; and the intensity and frequency of extreme weather events. These all have the potential to affect the Company&#8217;s business and operations.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Midwestern Greenhouse Gas Reduction Accord. </font>Minnesota is also participating in the Midwestern Greenhouse Gas Reduction Accord (the Accord), a regional effort to develop a multi-state approach to GHG emission reductions. The Accord includes an agreement to develop a multi-sector cap-and-trade system to help meet the targets established by the group.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">EPA Regulation of GHG Emissions.</font>&#160;On May 13, 2010, the EPA issued the final Prevention of Significant Deterioration (PSD) and Title V Greenhouse Gas Tailoring Rule (Tailoring Rule). The PSD/Tailoring Rule establishes permitting thresholds required to address GHG emissions for new facilities, at existing facilities that undergo major modifications, and at other facilities characterized as major sources under the Clean Air Act&#8217;s Title V program.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For our existing facilities, the rule does not require amending our existing Title V Operating Permits to include GHGs requirements. Implementation o f the requirement to add GHG provisions to permits will be completed at the state level in Minnesota by the MPCA when the Title V permits are renewed. However, installation of new units or modification of existing units resulting in a significant increase in GHG emissions will require obtaining PSD permits and amending our operating permits to demonstrate that Best Available Control Technology (BACT) is being used at the facility to control GHG emissions. The EPA has defined significant emissions increase for existing sources as a GHG increase of 75,000 tons per year or more of total GHG on a CO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2</font> equivalent basis.</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMI LY: Times New Roman">In late 2010, the EPA issued guidance to permitting authorities and affected sources to facilitate incorporation of the Tailoring Rule permitting requirements into the Title V and PSD permitting programs. The guidance stated that the project-specific top-down BACT determination process used for other pollutants will also be used to determine BACT for GHG emissions. Through sector-specific white papers, EPA also provided examples and technical summaries of GHG emission control technologies and techniques EPA considers available or likely to be available to sources. It is possible these control technologies could be determined to be BACT on a project by project basis. In the near term, one option appears to be energy efficiency maximization.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Legal challenges to the EPA&#8217;s regulation of GHG emissions, including the Tailoring Rule, have been filed and are awaiting judicial determination. Comments to the Permitting Guidance were also submitted and may be addressed by EPA in the form of revised guidance documents.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We cannot predict the nature or timing of any additional GHG legislation or regulation. Although we are unable to predict the compliance costs we might incur, the costs could have a material impact on our financial results.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" ali gn="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Coal Ash Management Facilities.</font> Minnesota Power generates coal ash at all five of its steam electric stations. Two facilities store ash in onsite impoundments (ash ponds) with engineered liners and containment dikes. Another facility stores dry ash in a landfill with an engineered liner and leachate collection system. Two facilities generate a combined wood and coal ash that is either land applied as an approved beneficial use, or trucked to state permitted landfills. On June 18, 2010, the EPA proposed regulations for coal combustion residuals generated by the electric utility sector. The proposal sought comments on three general regulatory schemes for coal ash. Public comments were submitted to the EPA by November 19, 2010. We are unable to predict the compliance costs we might incur; however, there is the possibility they could have a material impact.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Manufactured Gas Plant Site.</font>&#160;We are reviewing and addressing environmental conditions at a former manufactured gas plant site within the City of Superior, Wisconsin, and formerly operated by SWL&amp;P.&#160;We have been working with the WDNR to determine the extent of contamination and the remediation of contaminated locations. At December 31, 2010, we have a $0.5&#160;million liability for this site, and a corresponding regulatory asset as we expect recovery of remediation costs to be allowed by the PSCW.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#16 0;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other Matters</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">BNI Coal.</font> As of December 31, 2010, BNI Coal had surety bonds outstanding of $18.4 million related to the reclamation liability for closing costs associated with its mine and mine facilities. Although the coal supply agreements obligate the customers to provide for the closing costs, additional assurance is required by federal and state regulations. In addition to the surety bonds, BNI Coal has secured a letter of credit with CoB ANK ACB for an additional $10.0 million, of which $6.7 million is needed to meet the requirements for BNI Coal&#8217;s total reclamation liability currently estimated at $25.1 million. BNI Coal does not believe it is likely that any of these outstanding bonds will be drawn upon.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ALLETE Properties. </font>As of December 31, 2010, ALLETE Properties, through its subsidiaries, had surety bonds outstanding of $11.6&#160;million primarily related to performance and maintenance obligations to governmental entities to construct improvements in their various projects. The remaining work to be completed on these improvements is estimated to be approximately $9.0 milli on, and ALLETE Properties does not believe it is likely that any of these outstanding bonds will be drawn upon.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Community Development District Obligations.</font> In March 2005, the Town Center District issued $26.4 million of tax-exempt, 6 percent capital improvement revenue bonds; and in May 2006, the Palm Coast Park District issued $31.8 million of tax-exempt, 5.7 percent special assessment bonds. The capital improvement revenue bonds and the special assessment bonds are payable through property tax assessments on the land owners over 31 years (by May 1, 2036, and 2037, respectively). The bond proceeds were used to pay for the construction of a portion of the maj or infrastructure improvements in each district, and to mitigate traffic and environmental impacts. The bonds are payable from and secured by the revenue derived from assessments imposed, levied and collected by each district. The assessments were billed to the landowners in November 2006, for Town Center and November 2007, for Palm Coast Park. To the extent that we still own land at the time of the assessment, we will incur the cost of our portion of these assessments, based upon our ownership of benefited property. At December 31, 2010, we owned 69 percent of the assessable land in the Town Center District (69 percent at December 31, 2009) and 93 percent of the assessable land in the Palm Coast Park District (86 percent at December 31, 2009). At these ownership levels our annual assessments are $1.4 million for Town Center and $2.1 million for Palm Coast Park. As we sell property, the obligation to pay special assessments will pass to the new landowners. Under current accounting rules, these bonds are not reflected as debt on our consolidated balance sheet.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Legal Proceedings.</font> In January 2011, the Company was named as a defendant in a lawsuit in the Sixth Judicial District for the State of Minnesota by one of our customer&#8217;s, United Taconite, LLC, property and business interruption insurers. In October 2006, United Taconite experienced a fire as a result of the failure of certain electrical protective equipment.&#160;The equipment at issue in the incident was not owned, designed, or installed by Minnesota Power, but Minnesota Power had provided testing and calibration services related to the equipment.&#160;The lawsuit alleges approximately $20 m illion in damages related to the fire. The Company believes that it has strong defenses to the lawsuit and intends to vigorously assert such defenses. An expense related to any damages that may result from the lawsuit has not been recorded as of December&#160;31, 2010, because a potential loss is not currently probable or reasonably estimable; however, the Company believes it has adequate insurance coverage for potential loss.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Other.</font> We are involved in litigation arising in the normal course of business. Also in the normal course of business, we are involved in tax, regulatory and other governmental audits, inspections, investigations and other proceeding s that involve state and federal taxes, safety, compliance with regulations, rate base and cost of service issues, among other things. While the resolution of such matters could have a material effect on earnings and cash flows in the year of resolution, none of these matters are expected to materially change our present liquidity position, or have a material adverse effect on our financial condition.</font></div> 66000000 75200000 38800000 365600000 308900000 318100000 35800000 35200000 0 0 900000 900000 985000000 939000000 <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 7.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investments</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" ><font style="DISPLAY: inline; FONT-WEIGHT: bold">Investments.</font> At December 31, 2010, our long-term investment portfolio included the real estate assets of ALLETE Properties, debt and equity securities consisting primarily of securities held to fund employee benefits and land held-for-sale in Minnesota.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Investments</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </ font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0 pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">< font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ALLETE Properties</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$94.0</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$93.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available-for-sale Securities <font style="DISPLAY: in line; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25.2</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="B ORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Other Investments</font></div></td><td style="BORDER-BOTTOM: bla ck 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$126.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$130.5</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inli ne; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">As of December 31, 2010, our remaining $6.7 million of Auction Rate Securities were classified as short-term as they were called prior to December 31, 2010, and redeemed at carrying value on January 5, 2011.</font></div></td></tr></table></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ALLETE Properties</font></div></td> <td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%">< div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY : inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Land Held-for-Sale Beginning Balance</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$74.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$71.2</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additions during period:</font></div>& lt;/td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deeds to Collateralized Property <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.9</font></div> ;</td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capitalized Improvements and Other</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deductions during period: Cost of Real Estate Sold</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLA Y: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.9)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Land Held-for-Sale Ending Balance</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">86.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inlin e; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">74.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-Term Finance Receivables (net of allowances of $0.8 and $0.4) <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: i nline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT - -FAMILY: times new roman">5.3</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Real Estate Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$94.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: t imes new roman">$93.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 23px"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td width="1215"><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The deeds to collateralized property resulted primarily from an entity which filed for voluntary Chapter 11 bankruptcy and were recorded at fair value net of estimated selling costs. The change in the long-term finance receivables was primarily a result of the same transaction.</ font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Land Held-for-sale.&#160;</font>Land held-for-sale is recorded at the lower of cost or fair value determined by the evaluation of individual land parcels.&#160;Land values are reviewed for impairment and no impairments were recorded for the year ended December&#160;31,&#160;2010 (none in 2009).</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inli ne; FONT-STYLE: italic">Long-Term Finance Receivables</font>. As of December 31, 2010, long-term finance receivables were $3.7 million net of allowance ($12.9 million net of allowance as of December 31, 2009). Long-term finance receivables are collateralized by property sold, accrue interest at market-based rates and are net of an allowance for doubtful accounts. As of December 31, 2010, the reserve balance was due to an impairment of $0.8 million on a delinquent note receivable where the fair value of the collateralized property was less than the note balance ($0.3 million of impairments in 2009). This valuation technique constitutes a Level 3 non-recurring fair value measurement.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If a purchaser defaults on a sales contract, the legal remedy is usually limited to terminating the contract and retaining the purchaser&#8217;s deposit. The property is then available for resale. In many cases, contract purchasers incur significant costs during due diligence, planning, designing and marketing the property before the contract closes, therefore they have substantially more at risk than the deposit.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June 2010, ALLETE Properties received deeds in lieu of foreclosure to properties which had been sold in multiple transactions over various years to one purchaser. The properties were sold with seller financing, of which $7.0 million remained due and owing from the purchaser that filed for voluntary Chapter 11 bankruptcy protection in June 2009 . The bankruptcy trustee approved the transfer of the properties back to ALLETE Properties in satisfaction of the amount owed. The fair value of the properties received net of selling expenses was $8.8 million. The receipt of properties resulted in a pretax gain of $0.7 million after reflecting other liabilities assumed and non-controlling interest.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Available-for-Sale Investments.</font><font style="DISPLAY: inline; FONT-STYLE: italic">&#160;</font>We account for our available-for-sale portfolio in accordance with the guidance for certain investments in debt and equity securities. Our available-for-sale securities portfolio consisted of securities es tablished to fund certain employee benefits and auction rate securities.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="85%" colspan="5"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 112.5pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available-For-Sale Securities</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 112.5pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></di v></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="27%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross Unrealized</font></div></td><td valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of&#160;December&#160;31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gain</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="14%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Loss)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="25%"><font style="DISPL AY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div&g t;</td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.4</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.2</font></div></td><td valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(2.4)</font></div></td><td valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><f ont style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$25.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$33.1</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.1</font></div></td><td valign="bottom" alig n="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(3.7)</font></div></td><td valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LE FT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$40.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(7.9)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" ali gn="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$32.6</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="27%" colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="19%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Unrealized</font></div></td></tr><tr bgcolor="white"><td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net</font></div></td><td valign="top" width="27%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross Realized</font></div></td><td valign="top" width="19%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gain (Loss) in Other</font></div></td></tr><tr bgcolor="#cceeff"><td st yle="BORDER-BOTTOM: black 2px solid" valign="top" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gain</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new rom an">(Loss)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="19%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Comprehensive Income</font></div></td></tr><tr bgcolor="white"><td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="19%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="top" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(1.7)</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="13%"><div styl e="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.4</font></div></td></tr><tr bgcolor="white"><td valign="top" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMIL Y: times new roman">$6.7</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width ="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT - -INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(0.1)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(9.7)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Auction Rate Securities.</font> As of December 31, 2010, our ARS were classified as a short-term investment as the remaining balance of $6.7 million was redeeme d at carrying value on January 5, 2011. As of December 31, 2009, our ARS were classified as long-term investments.</font></div><br /> -1600000 -1600000 0 0 0 -900000 -4100000 6000000 0 300000 20400000 228700000 137400000 153600000 1100000 1300000 700000 80500000 64700000 55500000 324800000 325000000 771600000 695800000 93300000 88400000 28600000 24300000 0 -200000 -4800000 13400000 5200000 310200000 293200000 239700000 225500000 99500000 118500000 <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 17.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Derivatives</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Occasionally we enter i nto financial derivative instruments to manage price risk for certain power marketing contracts.&#160;Changes in a derivatives&#8217; fair value are recognized currently in earnings unless specific hedge accounting criteria is met.&#160;The mark-to-market fluctuations on any cash flow hedge are recorded in other comprehensive income on the consolidated balance sheet.&#160;During 2010, we did not enter into any new derivative instruments, and have no outstanding derivative contracts at December 31, 2010. There were no changes in fair value of derivatives recognized in 2010 in earnings, and no mark-to market changes in cash flow hedges recorded in 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During 2009 we entered into two types of&#160;financial derivative instruments consisting of cash flow hedges for an energy sale that included pricing based on daily natural gas prices, and FTRs purchased to manage congestion risk for forward power sales contracts.&#160;As of December 31, 2009, approximately $0.7 million remained in other assets on our consolidated balance sheet for FTRs, which settled monthly throughout the first five months of 2010 at cost.&#160;During 2009, changes in the fair value of outstanding derivatives resulted in the recognition of $.04 million of revenue in the first two quarters, and a decrease in revenue of $0.4 million in the third quarter of 2009 when the energy swap contract ended. The mark-to-market fluctuations on the cash flow hedge in 2009 were recorded in other comprehensive income as a $0.1 million increase in fair value in the first quarter and a decrease of $0.1 million in the second quarter of 2009.</font></div> <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 14.</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other Comprehensive Income (Loss)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DIS PLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Comprehensive Income (Loss)</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT- SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%">< div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$74.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$60.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$83.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Comprehensive Income</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valig n="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Unrealized Gain on Securities</font></div><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Net of income taxes of $0.6, $1.7, and $(3.7)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIG HT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6.0)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Reclassification Adjustment for Losses Included in Income</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#16 0;&#160;&#160;&#160;&#160;&#160;Net of income taxes of $&#8211;, $&#8211;, and $(2.7)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3.7)</font></div></td></tr><t r bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Defined Benefit Pension and Other Postretirement Plans</font></div><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Net of income taxes of $&#8211;, $4.1, and $(13.3)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font> ;</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(18.8)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Other Comprehensive Income (Loss)< /font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(28.5)</font></div></td></tr><tr bgcolor="whit e"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Comprehensive Income</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$75.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$69.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right" ><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$54.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less: Non-Controlling Interest in Subsidiaries</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.5)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1p t" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.3)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Comprehensive Income Attributable to ALLETE</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIG HT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$76.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$70.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$54.0</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100 %"><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Other Comprehensive Income (Loss)</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font> </div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" wid th="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unrealized Loss on Securities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(1.0)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN- RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(1.8)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Defined Benefit Pension and Other Postretirement Plans</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(22.2)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDEN T: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(22.2)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Accumulated Other Comprehensive Loss</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(23.2)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-IND ENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(24.0)</font></div></td></tr></table></div> <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 11.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Common Stock and Earnings Per Share</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="le ft" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Summary of Common Stock</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign=" bottom" width="79%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thousands</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FO NT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2007</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30,827</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$461.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008&#160;&#160;&#160;Employee Stock Purchase Plan</fo nt></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Invest Direct</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDE NT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">161</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options and Stock Awards</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"&g t;24</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.6</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Issuance Program</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,556</font></div></td><td s tyle="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2008</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32,585</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGI N-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$534.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009&#160;&#160;&#160;Employee Stock Purchase Plan</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">24</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DI SPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.7</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Invest Direct</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">456</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.6</font></div></td></tr><tr bgcolor="#cceeff" ><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options and Stock Awards</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-R IGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Issuance Program</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,685</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMI LY: times new roman">Contributions to Pension</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">463</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35,221</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$613.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010&#160;&#160;&#160;Employee Stock Purchase Plan</font></div></td><td valign="bottom" align="right" width=" 11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">19</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.6</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Invest Direct</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: in line; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">346</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options and Stock Awards</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51</font></div></td><td valign="bottom" align="ri ght" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.4</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Issuance Program</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">180</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="1 0%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35,817</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10 %"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$636.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Equity Issuance Program.</font> We entered into a distribution agreement with KCCI, Inc., in February 2008, as amended, with respect to the issuance and sale of up to an aggregate of 6.6 million shares of our common stock, without par value. For the year ended December&#160;31,&#160;2010, 0.2 million shares of common stock were issued under this agreement resulting in net proceeds of $6.0 million. During 2009, 1. 7 million shares of common stock were issued for net proceeds of $51.9 million. As of December&#160;31,&#160;2010, approximately 3.1 million shares of common stock remain available for issuance pursuant to the amended distribution agreement. The shares issued in 2010 and 2009 were offered for sale, from time to time, in accordance with the terms of the amended distribution agreement pursuant to Registration Statement No. 333-147965. The remaining shares may be offered for sale, from time to time, in accordance with the terms of the amended distribution agreement pursuant to Registration Statement No. 333-170289.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a id="Shareholder" name="Shareholder"><!--EFPlaceholder--></a><font style="DISPLAY: i nline; FONT-WEIGHT: bold">Authorized Common Stock.</font> On May 12, 2009, shareholders approved an amendment to the Company&#8217;s Amended and Restated Articles of Incorporation to increase the number of authorized shares of common stock from 43.3 million to 80.0 million.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Earnings Per Share.</font> The difference between basic and diluted earnings per share arises, if any, from outstanding stock options, non-vested restricted stock, and performance share awards granted under our Executive and Director Long-Term Incentive Compensation Plans. In accordance with accounting standards for earnings per share, for 2010, 0.5 million options to purchase shares of common stock were excluded from the computation of diluted earnings per share because the option exercise prices were greater than the average market prices, and therefore, their effect would be anti-dilutive (0.6 million shares were excluded for 2009 and 0.6 million in 2008).</font></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reconciliation of Basic and Diluted</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font sty le="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Earnings Per Share</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dilutive</f ont></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Securities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Diluted</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions Except Per Share Amounts</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&# 160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr b gcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt ; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$75.3</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$75.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align=" left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common Shares</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34.2</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt ; FONT-FAMILY: times new roman">34.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Per Share of Common Stock</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.20</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" widt h="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.19</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font></div></td&g t;<td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$61.0</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$61.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGH T: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common Shares</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32.2</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Per Share of Common Stock</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.89</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11 .2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.89</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLA Y: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN- LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$82.5</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$82.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times n ew roman">Common Shares</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29.2</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width ="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Per Share of Common Stock</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.82</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: blo ck; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.82</font></div></td></tr></table></div> 71000000 9100000 22700000 0 0 -6400000 2.20 1.89 2.82 -16700000 -14500000 4600000 <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><div style="DISPLAY: block; TEXT-INDENT: 0pt"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule II</font></font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ALLETE</font></font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Valuation and Qualifying Accounts and Reserves</font></font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%">< tr bgcolor="#cceeff"><td valign="bottom" width="34%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance at</font></div></td><td valign="bottom" width="18%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additions</font></div></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deductio ns</font></div></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance at</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="34%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Beginning</font></div></td><td valign="bottom" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FON T-FAMILY: times new roman">Charged</font></div></td><td valign="bottom" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">from</font></div></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">End of</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bot tom" width="34%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">of Period</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">to Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold ; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Charges</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reserves <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Period</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left "><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="34%">< div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reserve Deducted from Related Assets</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font>&l t;/td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reserve For Uncollectible Accounts</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008&#160;&#160;Trade Accounts Receivable</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.0</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.0</font></div>& lt;/td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.3</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN- RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; Finance Receivables &#8211; Long-Term</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.2</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;< ;/font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009&#160;&#160;Trade Accounts Receivable</font></div></td><td valign="bottom" align="right" width="10%"><div style= "DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.3</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"&g t;$1.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; Finance Receivables &#8211; Long-Term</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.1</font></div></td><td valign="bottom" align="right" width="9%"><di v style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.3</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ti mes new roman">$0.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="34%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font>< ;/td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010&#160;&#160;Trade Accounts Receivable</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.9</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.1</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT : 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; Finance Receivables &#8211; Long-Term</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.4</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.8</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$ 0.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Asset Valuation Allowance</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"& gt;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008&#160;&#160;Deferred Tax Assets</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: blo ck; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.3</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$ (2.9)</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#821 1;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009&#160;&#160;Deferred Tax Assets</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.4</font></div></td><td valign="bottom" align="right" width="9%"><div style="DIS PLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$ (0.1)</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new ro man">$0.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010&#160;&#160;Deferred Tax Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: t imes new roman">$0.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.5</font></div>& lt;/td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font><font style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Includes uncollectible accounts written off.</font></font></div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div> <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 6.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investment in ATC</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Investment in ATC.</font> Our wholly-owned subsidiary, Rainy River Energy, owns approximately 8 percent of ATC, a Wisconsin-based utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota, and Illinois. ATC rates are FERC approved and are based on a 12.2 percent return on common equity dedicated to utility plant. We account for our investment in ATC under the equity method of accounting. As of December 31, 2010, our equity investment balance in ATC was $93.3 million ($88.4 million at December 31, 2009). On January 31, 2011, we invested an additional $0.8 million in ATC. In total, we expect to invest approximately $2 million throughout 2011.</font></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT- INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ALLETE&#8217;s Interest in ATC</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block ; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font>&l t;/td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Investment Beginning Balance</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$88.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roma n">$76.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash Investments</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%">& lt;div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity in ATC Earnings</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.9</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" ali gn="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Distributed ATC Earnings</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(14.6)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(13.8)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="lef t"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Investment Ending Balance</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$93.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$88.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width ="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ATC Summarized Financial Data</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGH T: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance Sheet Data</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inlin e; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Assets</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$59.9</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$51.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px soli d" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-Current Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,888.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,767.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign= "bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,948.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,818.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="64%"><font style="DISPLAY: inline ; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Liabilities</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$428.4</font></div></td><td vali gn="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$285.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-Term Debt</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,175.0</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align ="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,259.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Non-Current Liabilities</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">84.9</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">76.9</font></di v></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Members&#8217; Equity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,260.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,196.4</font></div> </td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Liabilities and Members&#8217; Equity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,948.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,818.4< /font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Statement Data</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: t imes new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-F AMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font> ;</td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revenue</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$556.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$521.5</font> </div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$466.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Expense</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">251.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDE NT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">230.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">209.0</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style= "DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">85.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">77.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">69.6</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10p t; FONT-FAMILY: times new roman">Net Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$219.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$213.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$188.0</font>< ;/div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"></font>&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ALLETE&#8217;s Equity in Net Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right " width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.3</font></div></td></tr></table></div> <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 2.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Business Segments</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Regulated Operations includes our regulated utilities, Minnesota Power and SWL&amp;P, as well as our investment in ATC, a Wisconsin-based utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota, and Illinois. Investments and Other is comprised primarily of BNI Coal, our coal mining operations in North Dakota, and ALLETE Properties, our Florida real estate investment. This segment also includes a small amount of non-rate base generation, approximately 7,000 acres of land available-for-sale in Minnesota, and earnings on cash and investments. For a description of our reportable business segments, see Item 1. Business.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="76%" colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulated</font></div></td><td valign="top" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investments</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><div align="center">& lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operations</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">and Other</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font ></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="middle" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td valign="middle" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="b ottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Revenue</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$907.0</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$835.5</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline ; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$71.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fuel and Purchased Power</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">325.1</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">325.1</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating and Maintenance</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">365.6</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">292.3</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">73.3</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Depreciation Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-F AMILY: times new roman">80.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">76.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Income (Loss)</font></div&g t;</td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">135.8</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">142.0</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6.2)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Expense</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(39.2)</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(32.3)</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6.9)</font></div></td></tr><tr bgcolor ="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Earnings in ATC</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.9</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.9</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISP LAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income (Loss) Before Non-Controlling Interest and Income Taxes</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">119.1</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">131.4</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(12.3)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Tax Expense (Benefit)</font></div></td><td style="BORDER-BOTTOM: blac k 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7.3)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income (Loss)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">74.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">79.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;(5.0)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less: Non-Controlling Interest in Subsidiaries</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.5)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div sty le="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.5)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income (Loss) Attributable to ALLETE</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$75.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$79.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(4.5)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"&g t;&#160; </font></td><td valign="middle" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Assets</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-S IZE: 10pt; FONT-FAMILY: times new roman">$2,609.1</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,375.4</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$233.7</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capital Additions</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$260.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$256.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.6</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-IN DENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="76%" colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulated</font></div></td><td valign="top" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investments</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOT TOM: black 2px solid" valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operations</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">and Other</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions </font></div></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="middle" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td valign="middle" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="13%">&l t;font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Revenue</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$766.7</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" al ign="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$689.4</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$77.3</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prior Year Rate Refunds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FON T-SIZE: 10pt; FONT-FAMILY: times new roman">(7.6)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7.6)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Operating Revenue</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">759.1</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">681.8</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">77.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT - -INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fuel and Purchased Power</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">279.5</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">279.5</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></di v></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating and Maintenance</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">308.9</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">235.8</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDE NT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">73.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Depreciation Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">64.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-R IGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Income (Loss)</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ti mes new roman">106.0</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">106.3</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.3)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Expense</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: bl ock; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(33.8)</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(28.3)</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5.5)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: tim es new roman">Equity Earnings in ATC</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.5</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.5</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align ="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Income (Expense)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4.0)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income (Loss) Before Non-Controlling Interest and Income Taxes</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">91.5</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style= "DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">101.3</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(9.8)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Tax Expense (Benefit)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4.6)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income (Loss)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">65.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;(5.2)</font></div></td></tr><t r bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less: Non-Controlling Interest in Subsidiaries</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.3)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td>& lt;td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.3)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income (Loss) Attributable to ALLETE</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$61.0</font></div></td ><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$65.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(4.9)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="1 3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Assets</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,393.1</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt " align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,184.0</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$209.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capital Additions</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT - -SIZE: 10pt; FONT-FAMILY: times new roman">$303.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$299.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.5</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="76%" colsp an="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulated</font></div></td><td valign="top" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investments</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated</font></div></td&g t;<td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operations</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">and Other</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="middle" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td><td valign="middle" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times n ew roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Revenue</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$801.0</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$712.2</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; M ARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$88.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fuel and Purchased Power</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">305.6</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FA MILY: times new roman">305.6</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating and Maintenance</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">318.1</font></div></td><td valign="bottom" align="right" width="13%">& lt;div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">239.3</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">78.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Depreciation Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-IND ENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">55.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: i nline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Income</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">121.8</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">116.6</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" wid th="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Expense</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(26.3)</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(24.0)</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT- FAMILY: times new roman">(2.3)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Earnings in ATC</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.3</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.3</font></div></td><td valign="bottom" align="right" width="11%"><div st yle="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block ; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Before Non-Controlling Interest and Income Taxes</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" ali gn="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">126.4</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">111.5</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.9</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Tax Ex pense (Benefit)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.2)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">83.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">67.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid " valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less: Non-Controlling Interest in Subsidiaries</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font></div></td><td style="BORDER-BOTTOM: black 2 px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$82.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$67.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$14.6</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="63%"><font style="DISPLAY: in line; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Assets</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" al ign="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,134.8</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1,832.1</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$302.7</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capita l Additions</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$322.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$317.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.9</font></div></td></tr></table ></div> 2010-12-31 -250900000 -320000000 -276100000 636100000 613400000 <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 16.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employee Stock and Incentive Plans</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"& gt;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Employee Stock Ownership Plan.</font> We sponsor a leveraged ESOP within the RSOP. As of their date of hire, eligible employees may to contribute to the RSOP plan. In 1990, the ESOP issued a $75 million note (term not to exceed 25 years at 10.25 percent) to us as consideration for 2.8 million shares (1.9 million shares adjusted for stock splits) of our newly issued common stock. The note was refinanced in 2006 at 6 percent. We make annual contributions to the ESOP equal to the ESOP&#8217;s debt service less available dividends received by the ESOP. The majority of dividends received by the ESOP are used to pay debt service, with the balance distributed to participants. The ESOP shares were initially pledged as collateral for its debt. As the debt is repaid, shares are released from collateral and allocated to participants based on the proportion of debt service paid in the year. As shares are released from collateral, we report compensation expense equal to the current market price of the shares less dividends on allocated shares. Dividends on allocated ESOP shares are recorded as a reduction of retained earnings; available dividends on unallocated ESOP shares are recorded as a reduction of debt and accrued interest. ESOP compensation expense was $7.1 million in 2010 ($6.5 million in 2009; $10.1 million in 2008).</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">According to the accounting standards for stock compensation, unallocated ALLETE common stock currently held and purchased by the ESOP will be treated as unearned ESOP shares and not considered as outstanding for earnings per share computations. ESOP shares are included in earnings per share computations after they are allocated to participants.</fon t></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMI LY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: in line; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ESOP Shares</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEX T-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Allocated</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.0</font></div></td>< /tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unallocated</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.5</font></div></td><td style="BORDER-BOTTO M: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.9</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bott om" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value of Unallocated Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom " align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$48.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$49.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$61.3</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div s tyle="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Stock-Based Compensation. </font><font style="DISPLAY: inline; FONT-STYLE: italic">Stock Incentive Plan. </font>Under our Executive Long-Term Incentive Compensation Plan (Executive Plan), share-based awards may be issued to key employees through a broad range of methods, including non-qualified and incentive stock options, performance shares, performance units, restricted stock, stock appreciation rights and other awards. There are 1.4 million shares of common stock reserved for issuance under the Executive Plan, with 0.7 million of these shares available for issuance as of December 31, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARG IN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We had a Director Long-Term Stock Incentive Plan (Director Plan) which expired on January 1, 2006. No grants have been made since 2003 under the Director Plan. Approximately 2,586 options were outstanding under the Director Plan at December&#160;31, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We currently have the following types of share-based awards outstanding:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" ><font style="DISPLAY: inline; FONT-STYLE: italic">Non-Qualified Stock Options</font>. The options allow for the purchase of shares of common stock at a price equal to the market value of our common stock at the date of grant. Options become exercisable beginning one year after the grant date, with one-third vesting each year over three years. Options may be exercised up to ten years following the date of grant. In the case of qualified retirement, death or disability, options vest immediately and the period over which the options can be exercised is three years. Employees have up to three months to exercise vested options upon voluntary termination or involuntary termination without cause. All options are cancelled upon termination for cause. All options vest immediately upon retirement, death, disability or a change of control, as defined in the award agreement. We determine the fair value of options using the Black-Scholes option-pricing model. The estimated fair value of options, including the effect of estimated forfeitures, is recognized as expense on the straight-line basis over the options&#8217; vesting periods, or the accelerated vesting period if the employee is retirement eligible.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No stock options were granted under our Executive Long-Term Incentive Compensation Plan in 2009 or 2010. The following assumptions were used in determining the fair value of stock options granted during 2008, under the Black-Scholes option-pricing model:</font></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 48.6pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="88%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Risk-Free Interest Rate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMIL Y: times new roman">2.8%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="88%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected Life</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;5 Years</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="88%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected Volatility</font></div></td><td valig n="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20%</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="88%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dividend Growth Rate</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.4%</font></div></td></tr></table></div><div style="DISPLAY: blo ck; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the grant date. Expected volatility is estimated based on the historic volatility of our stock and the stock of our peer group companies. We utilize historical option exercise and employee pre-vesting termination data to estimate the option life. The dividend growth rate is based upon historical growth rates in our dividends.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline ; FONT-STYLE: italic">Performance Shares.</font> Under the performance share awards plan, the number of shares earned is contingent upon attaining specific market goals over a three-year performance period. Market goals are measured by total shareholder return relative to a group of peer companies. In the case of qualified retirement, death or disability during a performance period, a pro-rata portion of the award will be earned at the conclusion of the performance period based on the market goals achieved. In the case of termination of employment for any reason other than qualified retirement, death or disability, no award will be earned. If there is a change in control, a pro-rata portion of the award will be paid based on the greater of actual performance up to the date of the change in control or target performance. The fair value of these awards is determined by the probability of meeting the total shareholder return goals. Compensation cost is recognized over the three-year performance period based on our estimate of the number of shares which will be earned by the award recipients.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Restricted Stock Units.</font> Under the restricted stock units plan, shares vest monthly over a three year period. In the case of qualified retirement, death or disability, a pro-rata portion of the award will be earned. In the case of termination of employment for any other reason other than qualified retirement, death or disability, no award will be earned. If there is a change in control, a pro-rata portion of the award will be paid. The fair value of these awards is equal to the grant date fair value. Compensation cost is recognized over the three-year vesting period b ased on our estimate of the number of shares which will be earned by the award recipients.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Employee Stock Purchase Plan (ESPP).</font> Under our ESPP, eligible employees may purchase ALLETE common stock at a 5 percent discount from the market price. Because the discount is not greater than 5 percent, we are not required to apply fair value accounting to these awards.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font styl e="DISPLAY: inline; FONT-STYLE: italic">RSOP</font>. The RSOP is a contributory defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended, and qualifies as an employee stock ownership plan and profit sharing plan. The RSOP provides eligible employees an opportunity to save for retirement.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The following share-based compensation expense amounts were recognized in our consolidated statement of income for the periods presented.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor ="#cceeff"><td valign="bottom" align="left" width="100%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Share-Based Compensation Expense</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td&g t;<td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock Options</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"&g t;$0.1</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.15pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Performance Shares</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARG IN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.5</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.15pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT- SIZE: 10pt; FONT-FAMILY: times new roman">Restricted Stock Units</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.15pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> &#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Share-Based Compensation Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.15pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Tax Benefit</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$ 0.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.15pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There were no capitalized stock-based com pensation costs at December 31, 2010, 2009, or 2008.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of December 31, 2010, the total unrecognized compensation cost for the performance share awards and restricted stock units not yet recognized in our consolidated statements of income was $1.5 million and $0.7 million, respectively. These amounts are expected to be recognized over a weighted-average period of 1.6 years for both performance share awards and restricted stock units.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font st yle="DISPLAY: inline; FONT-STYLE: italic">Non-Qualified Stock Options. </font>The following table presents information regarding our outstanding stock options as of December&#160;31, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="29%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="18%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bol d; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="18%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="top" width="29%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-Average</font></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new rom an">&#160; </font></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-Average</font></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-Average</font></div></td></tr><tr bgcolor="#cceeff"><td valign="top" width="29%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div>& lt;/td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise& lt;/font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="29%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div></td><td style="BORDE R-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="29%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="29%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY : inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Outstanding as of January 1,</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">646,235</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$40.05</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">672,419</font></div></td><td valign="bottom" align="right" width="9%">& lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.99</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">510,992</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.83</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="29%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-S IZE: 10pt; FONT-FAMILY: times new roman">Granted <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div& gt;</td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">180,815</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.10</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="29%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGI N-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercised</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">40,769</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.76</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,508</font></div></td><td valign="bottom " align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$18.85</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16,627</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$25.56</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="29%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGI N-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeited</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44,579</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.16</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inl ine; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21,676</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$42.62</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,761</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.39< ;/font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="29%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Outstanding as of December 31,</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">560,887</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$40.69</ font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">646,235</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$40.05</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">672,419</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.99</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="29%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercisable as of December 31,</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">523,491</font></div></td><td style="BORDER-BOTTOM: b lack 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.76</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">512,743</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$37.34</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">406,894</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$34.48</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 22px"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: T imes New Roman">(a)</font></div></td><td width="1216"><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Stock options have not been granted since 2008.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cash received from non-qualified stock options exercised was $1.1 million in 2010. The weighted-average grant-date intrinsic value of options granted in 2008 was $6.18 for 2008 (none in 2010 or 2009). The intrinsic value of a stock award is the amount by which the fair value of the underlying stock exceeds the exercise price of the award. The total intrinsic value of options exercised was $0.3 million during 2010 ($0.1 milli on in 2009; $0.2 million in 2008).</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="68%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="32%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Range of Exercise Price</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">< font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$18.85 to $29.79</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$37.76 to $41.35</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGH T: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.15 to $48.65</font></div></td></tr><tr bgcolor="#cceeff"><td valign="top" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options Outstanding and Exercisable:</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="top" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt ; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number Outstanding and Exercisable</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44,738</font></div></td><td valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">296,770</font></div></td><td valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">181,983</f ont></div></td></tr><tr bgcolor="#cceeff"><td valign="top" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted Average Remaining Contractual Life (Years)</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.5</font></div></td><td valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.4</font></div></td><td valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEF T: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted Average Exercise Price</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$26.96</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0 pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.44</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$46.37</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Performance Shares.</font> The following table presents information regarding our non-vested performance shares as of December&#160;31, 2010.</font></div><d iv style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%" colspan="2"><div align="center"><font style=" DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-</font></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-</fon t></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Grant Date</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Grant Date</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAM ILY: times new roman">Grant Date</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font&g t;</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="28%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMIL Y: times new roman">Non-vested as of January 1,</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">121,825</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$41.96</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">79,238</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0p t; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$47.94</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">68,501</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$45.63</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="28%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted </font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">49,302</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.44</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">69,800</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="ri ght"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.06</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">36,684</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$54.05</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="28%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unearned Grant Award</font></div></td>< td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(22,909)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$54.50</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(24,615)</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inl ine; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$41.97</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(23,624)</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$42.80</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="28%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeited</font></div></td><td s tyle="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(25,729)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$36.45</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,598)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="righ t" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$38.78</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,323)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$50.87</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="28%"><div styl e="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-vested as of December 31,</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">122,489</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$38.15</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-IN DENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">121,825</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$41.96</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">79,238</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISP LAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$47.94</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Less than 0.1 million performance share were granted in February 2010 for the performance period ending in 2012. The ultimate issuance is contingent upon the attainment of certain future market goals of ALLETE during the performance periods. The grant date fair value of the performance share awards was $1.2 million.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No performa nce shares were awarded in February 2010 for the three year performance period ending in 2009, as performance targets were not met. However, in accordance with the accounting standards for stock compensation, no compensation expense previously recognized in connection with those grants will be reversed.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Less than 0.1 million performance shares were awarded in February 2011 for the three year performance period ending in 2010. The grant date fair value of the shares awarded was $1.6 million.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FON T-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Restricted Stock Units.</font> The following table presents information regarding our available restricted stock units as of December&#160;31, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="22%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="22%" colspan="2"><div ali gn="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted- Average</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMI LY: times new roman">Weighted- Average</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Grant Date</font></div></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; F ONT-SIZE: 10pt; FONT-FAMILY: times new roman">Grant Date</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new rom an">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available as of January 1,</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28,983</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TE XT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.41</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.9pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"& gt;Granted</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26,589</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.83</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30,465</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGH T: 4.9pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.41</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Awarded</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,091)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.75</font></div&g t;</td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.9pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeited</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" wid th="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8,678)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.62</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,482)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0 pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.9pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.41</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available as of December 31,</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43,803</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt ; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.61</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28,983</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.9pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.41</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Less than 0.1 million restricted stock units were granted in February 2010 for the vesting period ending in 2012. The grant date fair value of the restricted stock unit awards was $0.7 million.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Less than 0.05 million restricted stock units were awarded in 2010. The grant date fair value of the shares awarded was $0.1 million.</font></div> <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 12.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other Income (Expense)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" al ign="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td> ;</tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">AFUDC - Equity</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 18.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.2</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.8</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.3</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: bla ck 2px solid" valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investments and Other Income <font style="DISPLAY: inline; FONT-SIZE: 10pt">(a)</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 18.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4.0)</font></div></td>< td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Other Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 18.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.6</font></div></td><td style="BOR DER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.6</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">In 2008, Investment and Other Income included a gain from the sale of certain available-for-sale securities. The gain was triggered when securities were sold to reallocate investments to meet defined investment allocations based upon an approved investment strategy.</font></div></td></tr></table></div> 9600000 9600000 8500000 0 0 0 0 0 0 9600000 9600000 8500000 0 0 0 2300000 2200000 44800000 600000 8900000 62300000 907000000 766700000 801000000 9000000 9500000 33700000 32200000 34300000 32800000 <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 13.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Income Tax Expense</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March 23, 2010, the Patient Protection and Af fordable Care Act, which was subsequently amended on March&#160;30, 2010, was signed into law by the President. The law includes provisions to generate tax revenue to help offset the cost of the new legislation. One of the provisions changes the tax treatment for retiree prescription drug expenses by eliminating the tax deduction for expenses that are reimbursed under Medicare Part D, beginning January 1, 2013. Based on this provision, we are subject to additional taxes in the future and were required to reverse previously recorded tax benefits in the period of enactment. Consequently, the elimination of the previously recorded tax benefit resulted in a non-recurring charge to net income of $4.0 million in 2010. On October 8, 2010, we submitted a filing with the MPUC to request deferral of the retail portion of Medicare Part D of this legislation. As we are unable to predict the outcome at this time, we have not deferred any portion of this amount as a regulatory asset.</font></div><div> ;&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Tax Expense</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px soli d" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2p x solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Tax Expense (Benefit)</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEF T: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Federal <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(23.0)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(42.6)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPL AY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.2</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FO NT-FAMILY: times new roman">(1.8)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.6)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Current Tax Expense (Benefit)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt ; FONT-FAMILY: times new roman">(21.7)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(44.4)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.6</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Tax Expense</font> </div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Federal <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(b)</font></font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MAR GIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">66.0</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State</font></div> </td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.3</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.3</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change in Valuation Allowance</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.2</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.1)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.9)</font></div></td></tr>&l t;tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investment Tax Credit Amortization</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.9)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.0)</font></div></td><td style ="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.0)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Tax Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">66.0</font></div></td><td style="BORD ER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">38.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Income Tax Expense</font></div></td><td style="BORDER-BOTTOM: b lack 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">< br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The 2010<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>federal current tax benefit is primarily due to the implementation of tax planning initiatives and bonus depreciation provisions in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 and the Small Business Jobs Act of 2010.&#160;The 2009 federal current tax benefit is primarily due to bonus depreciation provisions of the American Recovery and Reinvestment Act of 2009.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(b)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The 2010 federal deferred tax expense is primarily due to tax planning initiatives and bonus depreciation provisions of the Small Business Jobs Act of 2010 and the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. Also included in 2010 is a one-time charge of $4.0 million as a result of the Patient Protection and Affordable Care Act. The 2009 federal deferred tax expense is primarily due to bonus depreciation provisions of the American Recovery and Reinvestment Act of 2009.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reconciliation of Taxes from Federal Statutory</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; F ONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Rate to Total Income Tax Expense</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">& amp;#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new ro man">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Before Non-Controlling Interest and Income Taxes</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$119.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DI SPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$91.5</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$126.4</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Statutory Federal Income Tax Rate</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FA MILY: times new roman">35%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Taxes Computed at 35 percent Statutory Federal Rate</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$41.7</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$32.0</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase (Decrease) in Tax Due to:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State Income Taxes &#8211; Net of Federal Income Tax Benefit&l t;/font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.5</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: - 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Impact of Patient Protection and Affordable Care Act</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.0</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&# 8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulatory Differences for Utility Plant</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.0)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.5)</font></div></td><td valign="bottom" align="right" width="10%"><div style=" DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.6)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Production Tax Credit</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.6)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-S IZE: 10pt; FONT-FAMILY: times new roman">(1.2)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.4)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.3)</font>< ;/div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.9)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3.6)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Income Tax Expense</font></div>& lt;/td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.4</font></div></td></tr></table></div><div style="D ISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The effective tax rate on income was 37.2 percent for 2010 (33.7 percent for 2009; 34.3 percent for 2008).</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Tax Assets and Liabilities</font></div></td><td valign="top" width="10%">< font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: blac k 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align=" left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Tax Assets</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Employee Benefits and Compensation <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valig n="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$121.8</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$118.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Property Related</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" alig n="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">46.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOL and Tax Credit Carryforward</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28.2</font></d iv></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investment Tax Credits</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.7</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-I NDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8. 1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross Deferred Tax Assets</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">223.5</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">189.1</font>< ;/div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Tax Asset Valuation Allowance</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.5)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.3)</font& gt;</div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Tax Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$223.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$188.8</font>< /div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Tax Liabilities</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Property Related</font></div></td><td valign="bottom" align= "right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$387.2</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$294.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulatory Asset for Benefit Obligations</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6. 7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105.8</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unamortized Investment Tax Credits</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.7</fon t></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Partnership Basis Differences</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">19.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEF T: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARG IN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28.2</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Tax Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$553.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN - -RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$447.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Deferred Income Taxes</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$330.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$258.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Recorded as:</font></div></td><td valign="bottom" width="10%"><fo nt style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Current Deferred Tax Liabilities <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(b)</font></font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.2</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Long-Term Deferred Tax Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">325.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="ri ght" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">253.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Deferred Income Taxes</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$330.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$258.7</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 18pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Includes unfunded employee benefits</font></div></td></tr></table>< /div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 18pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(b)&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Included in Other Current Liabilities.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOL and Tax Credit Carryforwards</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPL AY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> ;&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Federal NOL carryforward <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$62.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-R IGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$7.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Federal tax credit carryforwards</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.9</ font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State NOL carryforward <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">71.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59.6</font></div></td></tr> <tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State tax credit carryforwards, net of federal detriment</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1</font></div>< ;/td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Pretax amounts</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roma n">In 2010 we had federal and state NOLs and tax credit carryforwards primarily due to bonus depreciation provisions in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 and the Small Business Jobs Act of 2010. The 2010 federal NOL will be partially utilized by carrying it back against prior years&#8217; income with the remainder carried forward to offset future years&#8217; income. We expect to fully utilize the federal NOL and tax credit carryforwards; therefore a deferred tax asset has been recorded to recognize the resulting tax benefit. The state NOL and tax credits will be carried forward to future tax years. We have established a valuation allowance against certain state NOL and tax credits that we do not expect to utilize before their expiration. The 2009 federal and state NOL were primarily due to bonus depreciation provisions in the American Recovery and Reinvestment Act of 2009. The federal and state carryforward periods expire between 2014 and 2030.< ;/font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross Unrecognized Income Tax Benefits</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align ="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT- SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance at January 1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.5</font></div></td><td valign="bott om" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$8.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additions for Tax Positions Related to the Current Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0p t; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reductions for T ax Positions Related to the Current Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.2)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%">& lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additions for Tax Positions Related to Prior Years</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FO NT-SIZE: 10pt; FONT-FAMILY: times new roman">4.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reduction for Tax Positions Related to Prior Years</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td> ;<td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.5)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Settlements</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.3)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6p t" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Lapse of Statute</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLA Y: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.1)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT- SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman" >$8.0</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The gross unrecognized tax benefits as of December 31, 2010, includes $0.6 million of net unrecognized tax benefits that, if recognized, would affect the annual effective income tax rate.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of December 31, 2010, we had $0.7 million ($0.9 million for 2009 and $0.6 million for 2008) of accrued interest related to unrecognized tax benefits included in the consolidated balance sheet. We class ify interest related to unrecognized tax benefits as interest expense and tax-related penalties in operating expenses in the consolidated statement of income. In 2010, we recognized a $0.2 million reduction of interest expense (interest expense of $0.4 million for 2009 and $0.4 million for 2008). There were no penalties recognized for 2010, 2009 or 2008.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We file a consolidated federal income tax return in the United States and state income tax returns in various jurisdictions. ALLETE is currently under examination by the IRS for the tax years 2005 through 2009. ALLETE is no longer subject to federal or state examination for years before 2005.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br / ></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During the next 12 months it is reasonably possible the amount of unrecognized tax benefits could be reduced by $4.0 million due to statute expirations and anticipated audit settlements. This amount is primarily due to timing issues.</font></div> 2010 5800000 10500000 -14100000 900000 900000 800000 39200000 33800000 26300000 80000000 80000000 399900000 385400000 0 3100000 0 -700000 0 0 75300000 61000000 82500000 17900000 17500000 15300000 13400000 11100000 <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 15.</font></div></td><td><font style="DISPLAY: inline; FONT-WEIGHT: bold">Pension and Other Postretirement Benefit Plans</font></td></tr></table><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have noncontributory union and non-union defi ned benefit pension plans covering eligible employees. The plans provide defined benefits based on years of service and final average pay. In 2010, we made total contributions of $26.5 million ($32.9 million in 2009 of which $12.0 million was contributed in shares of ALLETE common stock). We also have defined contribution pension plans covering substantially all employees. The 2010 plan year employer contributions, which are made through our employee stock ownership plan, totaled $7.2 million ($7.1 million for the 2009 plan year.) (See Note 11. Common Stock and Earnings Per Share and Note 16. Employee Stock and Incentive Plans)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In 2006, amendments were made to the non-union defined benefit pension plan and the RSOP. The non-u nion defined benefit pension plan was amended to suspend further crediting of service to the plan and closed the plan to new participants. In conjunction with the change, contributions were increased to the RSOP. In 2010, the Minnesota Power unions defined benefit pension plan was amended to close the plan to new participants.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have postretirement health care and life insurance plans covering eligible employees. In 2010, our postretirement health plan was amended to close the plan to employees hired after January 31, 2011. The full eligibility requirement was also amended in 2010, to age 55 with 10 years of service. The postretirement health plans are contributory with participant contributions adjusted annually. Postretireme nt health and life benefits are funded through a combination of Voluntary Employee Benefit Association trusts (VEBAs), established under section 501(c)(9) of the Internal Revenue Code, and irrevocable grantor trusts. In 2010 $12.8 million was contributed to the VEBAs. In 2009 we contributed $9.3 million to the VEBAs and $0.3 million to the grantor trust.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Management considers various factors when making funding decisions such as regulatory requirements, actuarially determined minimum contribution requirements, and contributions required to avoid benefit restrictions for the pension plans. Estimated defined benefit pension and postretirement health and life contributions for 2011 are expected to be $7.8 million and $12.9 millio n, respectively. Contributions are based on estimates and assumptions that are subject to change.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounting for Defined Benefit Pension and Postretirement Benefit Plans requires that employers recognize on a prospective basis the funded status of their defined benefit pension and other postretirement plans on their consolidated balance sheet and recognize as a component of other comprehensive income, net of tax, the gains or losses and prior service costs or credits that arise during the period but that are not recognized as components of net periodic benefit cost.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The defined benefit pension and postretirement health and life benefit costs recognized annually by our regulated companies are expected to be recovered through rates filed with our regulatory jurisdictions. As a result, these amounts that are required to otherwise be recognized in accumulated other comprehensive income have been recognized as a long-term regulatory asset on our consolidated balance sheet, in accordance with the accounting standards for Regulated Operations. The defined benefit pension and postretirement health and life benefit costs associated with our other non-rate base operations are recognized in accumulated other comprehensive income.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr b gcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension Obligation and Funded Status</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: bloc k; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Benefit Obligation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$485.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$435.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roma n">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change in Benefit Obligation</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bg color="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation, Beginning of Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$465.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$440.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18 pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman" >Interest Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actuarial Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Benefits Paid</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FA MILY: times new roman">(27.2)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(25.5)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Participant Contributions</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.1</font> </div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$525.6</font></d iv></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$465.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change in Plan Assets</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff">&l t;td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value, Beginning of Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$327.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$273.7</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt ; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> ;Employer Contribution</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">36.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">37.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Benefits Paid</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(27.2)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(25.5)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px sol id" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$382.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$327.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Funded Status, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(143.6)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(137.7)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inlin e; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Pension Amounts Recognized in Consolidated Balance Sheet Consist of:</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style=" DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Liabilities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(0.9)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(0.9)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"&g t;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Noncurrent Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(142.8)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(136.8)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style= "DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The pension costs that are reported as a component within our consolidated balance sheet, reflected in regulatory long-term assets and accumulated other comprehensive income, consist of the following:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unrecognized Pension Costs</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0p t; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font>&l t;/div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$225.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN- LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$196.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prior Service Cost</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEX T-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Unrecognized Pension Costs</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$226.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT- INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$198.3</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Components of Net Periodic Pension Expense</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bott om" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> Service Cost</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT : 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Cost</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25.4</font></div&g t;</td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(33.7)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(33.8)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEX T-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(32.5)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Loss</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new ro man">3.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Prior Service Costs</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.5</font></div></ td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.6</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Pension Expense</font></div></td><td st yle="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.9</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT - -INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Changes in Pension Plan Assets and Benefit Obligations Recognized in</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Comprehensive Income and Regulatory Assets</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TE XT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></d iv></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT : 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Prior Service Costs</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.5)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.6)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Gain</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6.6)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3.4)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Recognized in Other Comprehensive Income and Regulatory Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$28.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.8</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FON T-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZ E: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Projected Benefit Obligation</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$525.6</font></div></td><td val ign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$465.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Benefit Obligation</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$485.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN - -RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$435.9</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value of Plan Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$382.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGH T: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$327.6</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement Health and Life Obligation and Funded Status</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style= "DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font st yle="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change in Benefit Obligation</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPL AY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation, Beginning of Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$192.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$166.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Cost</font></div></td><td valign="bottom" align="right" wi dth="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actuarial Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="D ISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Participant Contributions</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.1</font></div></td><td valign="bot tom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.7</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Plan Amendments</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(14.2)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="righ t"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.3)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Benefits Paid</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(9.2)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font s tyle="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7.7)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$204.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DIS PLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$192.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change in Plan Assets</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"& gt;Fair Value, Beginning of Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$96.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$78.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="12%"&g t;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Employer Contribution</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPL AY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Participant Contributions</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Benefits Paid</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(9.1)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width= "12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7.6)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$114.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%" ><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$96.4</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Funded Status, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(89.4)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(95.7)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FO NT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Postretirement Health and Life Amounts Recognized in Consolidated Balance Sheet Consist of:</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Liabilities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MAR GIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(0.8)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(0.8)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Noncurrent Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font s tyle="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(88.6)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(94.8)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">According to the accounting standards for Retirement Benefits only assets in the VEBAs are treated as plan assets in the above table for the purpose of determining funded status. In addition to the postretirement health and life assets reported in the previous table, we had $19.8 mi llion in irrevocable grantor trusts included in Other Investments on our consolidated balance sheet at December 31, 2010 ($18.2 million at December 31, 2009).</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The postretirement health and life costs that are reported as a component within our consolidated balance sheet, reflected in regulatory long-term assets and accumulated other comprehensive income, consist of the following:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN - -LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unrecognized Postretirement Health and Life Costs</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bo ttom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style=" DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$80.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$69.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FON T-FAMILY: times new roman">Prior Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11.2)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.3)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Transition Obligation</font></div></td><t d style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Unrecognized Postretirement Health and Life Costs</font></div ></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$69.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$75.2</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="100%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT - -INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Components of Net Periodic Postretirement Health and Life Expense</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign ="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10 pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style= "DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected Return on Plan Assets</font></div></td><td valign= "bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(9.5)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8.3)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7.2)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> ;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Prior Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.1)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr> <tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" alig n="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.4</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Transition Obligation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" al ign="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Postretirement Health and Life Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6 pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$10.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$10.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%">&l t;tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Changes in Postretirement Benefit Plan Assets and Benefit Obligations</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Recognized in Other Comprehensive Income and Regulatory Assets</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman" >Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</fo nt></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prior Service Cost (Credit) Arising During the Period</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(14.2)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DIS PLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.3)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Prior Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr ><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Transition Obligation</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.5)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.5)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width= "76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Loss</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4.8)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.5)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%">&l t;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Recognized in Other Comprehensive Income and Regulatory Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(6.1)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.6</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">& #160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Estimated Future Benefit Payments</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: in line; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Health and Life</font></div></td>< /tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2011</font></div></td><td valign="bottom" align="right" width="12%"><div styl e="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$8.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2012</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FON T-FAMILY: times new roman">$28.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2013</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY : block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$10.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2014</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$11.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2015</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.7</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Years 2016 &#8211; 2020</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$174.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$73.3</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"&g t;<br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The pension and postretirement health and life costs recorded in other long-term assets and accumulated other comprehensive income expected to be recognized as a component of net pension and postretirement benefit costs for the year ending December 31, 2011, are as follows:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&# 160; </font></td><td valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Health and Life</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" alig n="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$8.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prior Service Costs</font></div>< ;/td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(1.7)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Transition Obligations</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" widt h="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Pension and Postretirement Health and Life Costs</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign ="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.9</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><fo nt style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-Average Assumptions Used to Determine Benefit Obligation</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -2.25pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; M ARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -3.6pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Discount Rate</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.36%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.81%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement Health and Life</f ont></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.40%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.81%</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Rate of Compensation Increase</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN - -LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3 &#8211; 4.6%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3 &#8211; 4.6%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Health Care Trend Rates</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" wid th="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Trend Rate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.5%</font></div></td></tr>& lt;tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ultimate Trend Rate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5%</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DI SPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ultimate Trend Rate Effective</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2018</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2017</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FON T-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-Average Assumptions Used to Determine Net Periodic Benefit Costs</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDEN T: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" alig n="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Discount Rate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.81%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.12%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.25%</font></div></td></tr><tr bgcolor="white" ><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected Long-Term Return on Plan Assets</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0%</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div st yle="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement Health and Life</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.8 &#8211; 8.5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.8 &#8211; 8.5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inl ine; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.2 &#8211; 9.0%</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Rate of Compensation Increase</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3 &#8211; 4.6%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"> ;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3 &#8211; 4.6%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3 &#8211; 4.6%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In establishing the expected long-term return on plan assets, we take into account the actual long-term historical performance of our plan assets, the actual long-term historical performance for the type of securities we are invested in, and apply the historical performance utilizing the target allocation of our plan assets to forecast an expected long-term return.&#160;Our expected rate of return is then selected after considering the results of each of those factors, in addition to considering the impact of current economic conditions, if applicable, on long-term historical returns.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The discount rate is computed using a yield curve adjusted for ALLETE&#8217;s projected cash flows to match our plan characteristics.&#160;The yield curve is determined using high-quality long-term corporate bond rates at the valuation date. We believe the adjusted discount curve used in this comparison does not materially differ in duration and cash flows from our pension obl igation.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Sensitivity of a One-Percentage-Point Change in Health Care Trend Rates</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; F ONT-SIZE: 10pt; FONT-FAMILY: times new roman">One Percent</font></div></td><td valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">One Percent</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"&g t;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Decrease</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; M ARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Effect on Total of Postretirement Health and Life Service and Interest Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(2.0)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Effect on Postretirement Health and Life Obligation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$23.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(19.2)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: time s new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="5"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Plan Asset Allocations</font></div></td></tr><tr bgcolor="white"><td valign="top" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="24%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td><td valign="bottom" width="24%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Health and Life <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div>< /td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">52%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">53%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIG HT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">58%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">54%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29%</font></div ></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">33%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">38%</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT : 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" a lign="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8%</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><font style=" DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1 00%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roma n">Includes VEBAs and irrevocable grantor trusts.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pension plan equity securities did not include any ALLETE common stock at December 31, 2010. At December 31, 2009, $9.9 million, or 3.0 percent, of ALLETE common stock was included.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To achieve strong returns within managed risk, we diversify our asset portfolio to approximate the target allocations in the table below. Equity securities are dive rsified among domestic companies with large, mid and small market capitalizations, as well as investments in international companies. The majority of debt securities are made up of investment grade bonds.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Plan Asset Target Allocations</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%">< ;font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valig n="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Health and Life </font><font style="DISPLAY: inline; FONT-STYLE: italic">(a)</font></font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLA Y: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">48%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FO NT-FAMILY: times new roman">34%</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9%</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9%</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="botto m" align="left" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><table style= "FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Includes VEBAs and irrevocable grantor trusts.</font></div></td></tr></table><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We utilize market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. We primarily apply the market approach for recurring fair value measurements and endeavor to utilize the best available information. Accordingly, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs, which are used to measure fair value, are prioritized through the fair value hierarchy. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt "><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 1 &#8212; Quoted prices are available in active markets for identical assets as of the reported date. Active markets are those in which transactions for the asset occur in sufficient frequency and volume to provide pricing information on an ongoing basis.</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 2 &#8212; Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reported date.&#160;The types of assets included in Lev el 2 are typically either comparable to actively traded securities or contracts, such as treasury securities with pricing interpolated from recent trades of similar securities, or priced with models using highly observable inputs, such as commodity options priced using observable forward prices and volatilities.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 3 &#8212; Significant inputs that are generally less observable from objective sources. The types of assets included in Level 3 are those with inputs requiring significant management judgment or estimation, such as the complex and subjective models and forecasts used to determine the fair value.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style= "DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pension Fair Value</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="47%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At Fair Value as of December 31, 2010</font></div></td></tr><tr bgcolor="white"> ;<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Recurring Fair Value Measures</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td& gt;<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FO NT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font> ;</td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Large-cap <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: bloc k; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$63.8</font> ;</div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Mid-cap Growth <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.7< ;/font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Small-cap <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font>&l t;/font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align= "right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;International</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">77.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">77.1</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT - -SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Mutual Funds</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">46.5</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">46.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Fixed Income</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">65.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">65.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Types of Investments:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><t d valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Private Equity Funds</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"& gt;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.7</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=" left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY : inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$104.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$199.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$77.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"&g t;$382.0</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times ne w roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Activity in Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Auction Rate Securities)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity Funds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new r oman">&#160; </font></td><td valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td valign="top" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.1</font></div></td><td valign="bottom" align="right" width="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10p t; FONT-FAMILY: times new roman">$44.7</font></div></td><td valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="top" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" wid th="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4.1)</font></div></td><td valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6.1)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases, sales, and settlements, net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="16%"><div style="DISPLAY: b lock; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.4)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; T EXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$50.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" ali gn="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$20.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="47%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At Fair Value as of December 31, 2009</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Recurring Fair Value Measures</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 2</font></div></td><td style="BORDER-BOTT OM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; < /font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font styl e="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Large-cap <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" al ign="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$23.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$55.9</font></div></td></tr><tr bgcolor="#cceeff"> <td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Mid-cap Growth <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.6</font></div></td><td valign="bottom" align="r ight" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Small-cap <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align=" right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT - -FAMILY: times new roman">20.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;International</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">66.4</font></div></td><td vali gn="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">66.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;ALLETE</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.9</font></div&g t;</td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Mutual Funds</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" a lign="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Fixed Income</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ti mes new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPL AY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Types of Investments:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Private Equity Funds</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman" >44.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44.7</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style ="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$82.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$173.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign= "bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$71.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$327.6</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LE FT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div><font style="DISPLAY: inline; FONT-STYLE: italic">The underlying investments classified under U.S. Equity Securities consist of Money Market Funds and U.S. Government Bonds (Level 1), Hedge Funds (Level 2), and Auction Rate Securities (Level 3), which are combined with futures, which settle daily, in a portable alpha program to achieve the returns of the U.S. Equity Securities Large-cap, Mid-cap Growth, and Small-cap funds. Our exposure with respect to these investments includes both the futures and the underlying investments.</font></div><div>&#160;</div></td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div><table style="FONT-SIZE: 1 0pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Recurring Fair Value Measures</font></div></td><td valign="top" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font& gt;</td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Activity in Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Auction Rate Securities)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> ;Private Equity Funds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font> </td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2008</font></div></td><td valign="top" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$10.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman" >$43.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="top" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: bloc k; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8.7)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8.6)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases, sales, and settlements, net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt ; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.1)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" alig n="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: i nline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.3</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Postretirement Health and Life Fair Value</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="48%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MA RGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At Fair Value as of December 31, 2010</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Recurring Fair Value Measures</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 1</font></div></td><td style="BORDER-BOTTOM: black 2px sol id" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"> ;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN- RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; F ONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;& ;#160;&#160;&#160;U.S. Large-cap</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN - -LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Mid-cap Growth</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font st yle="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Small-c ap</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RI GHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;International</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FA MILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities:</font></div></td><td valign="bottom" width="11%"><font style="DI SPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Mutual Funds</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0</ font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Fixed Income</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.9</font></div></td><td valign="bottom" align="right" width="12%"> ;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Types of Investments:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td vali gn="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Private Equity Funds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-IND ENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"> ;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.4</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$74.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" ali gn="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$114.7</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Activity in Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity Funds</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font> </div></td><td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline ; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.4</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases, sales, and settlements, net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE : 10pt; FONT-FAMILY: times new roman">1.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bg color="#cceeff"><td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="47%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At Fair Value as of December 31, 2009</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Recurring Fair Value Measures</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%">< ;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </f ont></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font st yle="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> ;&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Large-cap</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width=" 12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Mid-cap Growth</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt ; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0</font></div></td>< /tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Small-cap</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MAR GIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;International</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21.4</font></div></td></tr><tr bgcolor="white"><td valign=" bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGI N-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Mutual Funds</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Fixed Income</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td>< td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Types of Investments:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Private Equity Funds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="r ight"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.4</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1p t" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$55.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZ E: 10pt; FONT-FAMILY: times new roman">$96.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Activity in Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity Funds</font></div> ;</td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2008</font></div></td><td valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DIS PLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$7.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.1)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases, sales, and settlements, net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SI ZE: 10pt; FONT-FAMILY: times new roman">$9.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounting and disclosure requirements for the Medicare Prescription Drug, Improvement and Modernization Act of 2003 (Act) provides guidance for employers that sponsor postretirement health care plans that provide prescription drug benefits. We provide postretirement health benefits that include prescription drug benefits, which qualify us for the federal subsidy under the Act.</font></div> -50400000 -56500000 -60800000 -50400000 -56500000 -60800000 0 0 0 0 0 0 0 0 0 83000000 60700000 74800000 83000000 60700000 74800000 0 0 0 0 0 0 0 0 0 60800000 56500000 50400000 17900000 -43500000 2400000 43600000 47100000 2609100000 2393100000 126000000 130500000 <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 3.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Property, Plant and Equipment</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Property, Plant and Equipment</font></div></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" width="13%"><div align="cent er"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="middle" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="middle" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; &l t;/font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulated Utility</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,649.2</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,415.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div styl e="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Construction Work in Progress</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">86.6</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">89.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align= "left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Depreciation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(975.8)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(928.8)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align=" left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulated Utility Plant &#8211; Net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,760.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,576.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="D ISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-Rate Base Energy Operations</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">88.4</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">87.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Construction Work in Progress</font></div ></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.5</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Depreciation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="righ t" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(48.0)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(45.5)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-Rate Base Energy Operations Plant &#8211; Net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" v align="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Plant &#8211; Net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign ="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Property, Plant and Equipment &#8211; Net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1,805.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1,622.7</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Depreciation is computed using the straight-line method over the estimated useful lives of the various classes of assets. The MPUC and the PSCW have approved depreciation rates for our Regulated Utility plant.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="84%" colspan="5"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Estimated Useful Lives of Property, Plant and Equipment</font></div></td></tr><tr bgcolor="white"><td valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10p t; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="18%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulated Utility&#160;&#160;&#8211;</font></div></td><td valign="bottom" align="left" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN- RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Generation</font></div></td><td valign="bottom" align="left" width="18%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1 to 35 years</font></div></td><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-Rate Base Operations</font></div></td><td valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3 to 61 years</font></div></td> </tr><tr bgcolor="white"><td valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" align="left" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Transmission</font></div></td><td valign="bottom" align="left" width="18%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42 to 61 years</font></div></td><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Plant</font>< ;/div></td><td valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5 to 25 years</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Distribution</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="18%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN- RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14 to 65 years</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Asset Retirement Obligations.</font> We recognize, at fair value, obligations associated with the retirement o f certain tangible, long-lived assets that result from the acquisition, construction or development and/or normal operation of the asset. Asset retirement obligations (ARO) relate primarily to the decommissioning of our utility steam generating facilities and land reclamation at BNI Coal, and are included in Other Non-Current Liabilities on our consolidated balance sheet. The associated retirement costs are capitalized as part of the related long-lived asset and depreciated over the useful life of the asset. Removal costs associated with certain distribution and transmission assets have not been recognized, as these facilities have indeterminate useful lives. Conditional asset retirement obligations have been identified for treated wood poles and remaining polychlorinated biphenyl and asbestos-containing assets; however, removal costs have not been recognized because they are considered immaterial to our consolidated financial statements.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0p t"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Long-standing ratemaking practices approved by applicable state and federal regulatory commissions have allowed provisions for future plant removal costs in depreciation rates. These plant removal cost recoveries were included in accumulated depreciation. These plant removal cost recoveries are classified either as AROs or as a regulatory liability for non-ARO obligations. To the extent annual accruals for plant removal costs differ from accruals under approved depreciation rates, a regulatory asset has been established in accordance with the guidance for AROs. (See Note 5. Regulatory Matters.)</font></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff "><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Asset Retirement Obligation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font>&l t;/td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation as of December 31, 2008</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.5</font></div></td></tr><tr bgcolor="white"><td valign="middle" align="left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accretion Expense</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additional Liabilities Incurred in 2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="71%"><div style="DIS PLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation as of December 31, 2009</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accretion Expense</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="D ISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.9</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additional Liabilities Incurred in 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.8</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="l eft"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation as of December 31, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$50.3</font></div></td></tr></table></div> 2609100000 2393100000 60000000 57000000 <div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 8.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fair Value</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fair value is the price that would be re ceived to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We utilize market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. We primarily apply the market approach for recurring fair value measurements and endeavor to utilize the best available information. Accordingly, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs, which are used to measure fair value, are prioritized through the fair value hierarchy. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement) . The three levels of the fair value hierarchy are as follows:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 1 &#8212; Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. This category includes primarily mutual fund investments held to fund employee benefits.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">L evel 2 &#8212; Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reported date.&#160;The types of assets and liabilities included in Level 2 are typically either comparable to actively traded securities or contracts, such as treasury securities with pricing interpolated from recent trades of similar securities, or priced with models using highly observable inputs, such as commodity options priced using observable forward prices and volatilities. This category includes deferred compensation, fixed income securities, and derivative instruments consisting of cash flow hedges.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 3 &#8212; Significant inputs that are generally less observable f rom objective sources.&#160;The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation, such as the complex and subjective models and forecasts used to determine the fair value. This category includes ARS consisting of guaranteed student loans and derivative instruments consisting of FTRs.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The following tables set forth by level within the fair value hierarchy, our assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2010, and December 31, 2009. Each asset and liability is classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significanc e of a particular input to the fair value measurement requires judgment, which may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="28%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At Fair Value as of December 31, 2010</font></div></td></tr><tr bgcolor="white"><td sty le="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Recurring Fair Value Measures</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 2</font&g t;</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valig n="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets:</font></div></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT- FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font st yle="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$19.4</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$19.4</font></div></td></tr><tr bgcolor="white"><td valign="botto m" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available-for-sale Securities</font></div></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; M ARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Corporate Debt Securities</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$7.5</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">& ;#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.75pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities Issued by States of the United States (ARS) <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right">< font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAM ILY: times new roman">6.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.75pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Available-for-sale Securities</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.5</font></div></td><td valign="bottom" align="right" width=" 7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.7</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.2</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Money Market Funds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT - -INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right">< ;font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.8</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$20.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style ="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$7.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$34.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10 pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Liabilities:</font></div></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font> </td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Compensation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FON T-SIZE: 10pt; FONT-FAMILY: times new roman">$13.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; F ONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAM ILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Net Fair Value of Assets (Liabilities)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style= "DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$20.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(5.8)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$21.1</font></div></td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><a id="FIS_UNIDENTIFIED_TABLE_92" name="FIS_UNIDENTIFIED_TABLE_92"><!--EFPlaceholder--></a><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The remaining $6.7 million of ARS were redeemed at carrying value on January 5, 2011.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="42%"><f ont style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issued by the States</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="42%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Recurring Fair Value Measures</font></div></td><td valign="bottom" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FA MILY: times new roman">&#160; </font></td><td valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">of the United States</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="42%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Activity in Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new rom an">Derivatives</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(ARS)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="42%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></t d></tr><tr bgcolor="white"><td valign="bottom" align="left" width="42%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td valign="bottom" align="right" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 44.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td><td valign="bottom" align="right" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 48.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="42%"><div style="DISPLAY: bl ock; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases, sales, issuances and settlements, net</font></div></td><td valign="bottom" align="right" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 44.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.7)</font></div></td><td valign="bottom" align="right" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 48.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="42%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0p t" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3 transfers in</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 44.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 48.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="42%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0 pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2010 <font style="DISPLAY: inline; FONT-SIZE: 10pt">(</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">a)</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 44.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 48.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.7</font></div></td></tr></table></div><div style ="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The remaining $6.7 million of ARS were redeemed at carrying value on January 5, 2011.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%">& lt;tr bgcolor="#cceeff"><td valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="28%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At Fair Value as of December 31, 2009</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Recurring Fair Value Measures</font></font></div></td><td style="BORDER-BOTTOM : black 2px solid" valign="bottom" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="7%"> ;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </ font></td><td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets:</font></div></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style= "DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.8</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" ali gn="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available-for-sale Securities</font></div></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font> </td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Corporate Debt Securities</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT - -FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.4</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.4</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" alig n="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities Issued by States of the United States (ARS)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align= "right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.75pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Available-for-sale Securities</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT - -INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.4</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.7</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.1</font></div></td></ tr><tr bgcolor="white"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Derivatives</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1p t" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.7</font></div></td><td valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.7</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Money Market Funds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-S IZE: 10pt; FONT-FAMILY: times new roman">1.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.4</fon t></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$19.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.4</font></di v></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$7.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$33.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bott om" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Liabilities:</font></div></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 1 0pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Compensation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new r oman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$14.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$14.6</font></div></td>< ;/tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$14.6</font></div></td>< ;td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$14.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7 %"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="72%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Net Fair Value of Assets (Liabilities)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right">&l t;font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$19.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(8.2)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$7.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="7%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: time s new roman">$18.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="17%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities</font></div></td></tr><tr b gcolor="white"><td valign="bottom" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="17%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issued by the States</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Recurring Fair Value Measures</font></div></td><td valign="bottom" width="16%" ><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="17%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">of the United States</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Activity in Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; F ONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Derivatives</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="17%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(ARS)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FO NT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2008</font></div></td><td valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 44.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="17%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 48.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.2</font></div></td></tr><tr bgcolor="#cceeff"><td v align="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases, sales, issuances and settlements, net <font style="DISPLAY: inline; FONT-SIZE: 10pt">(</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">a)</font></font></div></td><td valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 44.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td><td valign="bottom" align="right" width="17%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 48.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8.5)</font></div>< ;/td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3 transfers in</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 44.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="17%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 48.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div>< /td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 44.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="17%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 48.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.7</font></div></t d></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">ARS were redeemed during 2009 at carrying value.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company&#8217;s policy is to recognize transfers in and transfers out as of the actual date of the event or change in circumstances that caused the transfer. For the year ended December 31, 2010 and 2009, there were no transfers in or out of Levels 1, 2 or 3.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Fair Value of Financial Instruments.</font> With the exception of the items listed below, the estimated fair value of all financial instruments approximates the carrying amount. The fair value for the items below were based on quoted market prices for the same or similar instruments.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /> ;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="77%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Financial Instruments</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Carrying Amount</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FO NT-FAMILY: times new roman">Fair Value</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="77%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="77%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-Term Debt, Includi ng Current Portion</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="77%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December 31, 2010</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$785.0</font></div></td><td valign="bottom" align="right" width="11% "><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$796.7</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="77%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December 31, 2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$701.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><di v style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$734.8</font></div></td></tr></table></div> Large Accelerated Filer 35820559 -18800000 6200000 0 0 -18800000 6200000 0 0 0 0 -1300000 700000 9200000 44300000 30800000 43400000 119100000 91500000 126400000 0 7600000 0 -23200000 -24000000 36800000 45300000 325200000 253100000 158900000 133100000 EX-101.LAB 21 ale-20101231_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Document Type Amendment Flag Amendment Description Document Period End Date Entity Registrant Name Entity Central Index Key Current Fiscal Year End Date Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Filer Category Entity Public Float Entity Common Stock, Shares Outstanding Assets Current Assets Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Period Cash and Cash Equivalents at End of Period Accounts Receivable (Less Allowance of $0.9 and $0.9) Inventories Inventory Net Prepayments and Other Prepaid Expense Current Total Current Assets Property, Plant and Equipment - Net Investment in ATC Equity Method Investments Other Investments Other Assets Noncurrent Other Non-Current Assets Total Assets Liabilities and Equity Liabilities Current Liabilities Accounts Payable Accounts Payable Current Accrued Taxes Accrued Interest Long-Term Debt Due Within One Year Notes Payable Other Liabilities Current Other Total Current Liabilities Long-Term Debt Deferred Income Taxes Other Liabilities Noncurrent Other Non-Current Liabilities Total Liabilities Commitments and Contingencies (Note 14) Equity ALLETE's Equity Common Stock Without Par Value, 80.0 Shares Authorized, 35.8 and 35.2 Shares Outstanding Unearned ESOP Shares Unearned ESOP Shares Accumulated Other Comprehensive Loss Retained Earnings Total ALLETE Equity Total Shareholders' Equity Total Shareholders' Equity Non-Controlling Interest in Subsidiaries Total Equity Total Liabilities and Equity Operating Revenue Operating Expenses Operating Revenue Regulated And Unregulated Operating Revenue Prior Year Rate Refunds Prior Year Rate Refunds Total Operating Revenue Total Operating Revenue Fuel and Purchased Power Operating and Maintenance Depreciation Total Operating Expenses Operating Income Non operating Income Expense Abstract Interest Expense Interest Expense Equity Earnings in ATC Other Other Nonoperating Income Expense Total Other Expense Total Other Income (Expense) Net Income Income Loss From Continuing Operations Before Income Taxes Minority Interest Income Before Non-Controlling Interest and Income Taxes Income Tax Expense Income Tax Expense Benefit Net Income Profit Loss Less: Non-Controlling Interest in Subsidiaries Non-Controlling Interest in Subsidiaries Net Income Attributable to ALLETE Average Shares of Common Stock Basic (in shares) Diluted (in shares) Basic Earnings Per Share of Common Stock (in dollars per share) Diluted Earnings Per Share of Common Stock (in dollars per share) Dividends Per Share of Common Stock (in dollars per share) Operating Activities Investing Activities Financing Activities Allowance for Funds Used During Construction Income from Equity Investments, Net of Dividends Loss (Income) from Equity Investments, Net of Dividends Gain on Real Estate Foreclosure AvailableForSaleSecuritiesGrossRealizedGainLossNet Gain on Sale of Available-for-sale Securities Depreciation Expense Amortization of Debt Issuance Costs Deferred Income Tax Expense Share-Based Compensation Expense Bad Debt Expense Changes in Operating Assets and Liabilities Accounts Receivable Inventories Increase Decrease In Inventories Prepayments and Other Increase Decrease In Prepaid Deferred Expense And Other Assets Accounts Payable Increase Decrease In Accounts Payable Increase Decrease In Operating Liabilities Current The net change during the reporting period in other current operating liabilities not otherwise defined in the taxonomy Other Current Liabilities Changes in Regulatory and Other Non-Current Liabilities Regulatory and Other Liabilities Regulatory and Other Assets Increase Decrease In Other Operating Assets Cash from Operating Activities Proceeds from Sale of Available-for-sale Securities Payments for Purchase of Available-for-Sale Securities Payments To Acquire Available For Sale Securities Payments for Purchase of Available-for-sale Securities Payments for Purchase of Available-for-Sale Securities Payments To Acquire Equity Method Investments Other Investment In Subsidiary Investment in ATC Changes to Other Investments Changes to Other Investments Additions to Property, Plant and Equipment Additions to Property, Plant and Equipment Proceeds from Sale of Assets Cash for Investing Activities Proceeds from Issuance of Common Stock Proceeds from Issuance of Long-Term Debt Reductions of Long-Term Debt Reductions of Long-Term Debt Debt Issuance Costs Debt Issuance Costs Dividends on Common Stock Dividends on Common Stock Changes in Notes Payable Cash from Financing Activities Change in Cash and Cash Equivalents Notes to Financial Statements [Abstract] Commitments, Guarantees and Contingencies Pension and Other Postretirement Benefit Plans Common Stock and Earnings Per Share Other Comprehensive Income (Loss) Income Tax Expense Income Tax Disclosure [Text Block] Other Income (Expense) Short-Term and Long-Term Debt Investment in ATC Equity Method Investments [Text Block] Regulatory Matters Fair Value Derivatives Investments Investments In Debt And Marketable Equity Securities And Certain Trading Assets Disclosure Text Block Business Segments Operations and Significant Accounting Policies Regulatory Assets Regulatory Liabilities Statement of Financial Position [Abstract] Statement of Cash Flows [Abstract] Income Statement [Abstract] Accounts Receivable, Allowance Common Stock Par Value (in dollars per share) Common Stock Shares Authorized (in shares) Common Stock Shares Outstanding (in shares) Entity [Text Block] Document Information [Text Block] Document Fiscal Year Focus Document Fiscal Period Focus GainOnSaleOfAssets The difference between the sale price or salvage price and the book value of an asset that was sold or retired during the reporting period. This element refers to the gain (loss) and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Gain on Sale of Assets Statement of Stockholders Equity [Abstract] Statement [Table] Statement, Equity Components [Axis] Equity Component [Domain] Retained Earnings Retained Earnings [Member] Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income [Member] Unearned ESOP Shares Deferred Compensation Share Based Payments [Member] Common Stock Common Stock [Member] Statement [Line Items] Comprehensive Income Other Comprehensive Income - Net of Tax Unrealized Gain (Loss) on Securities - Net Reclassification Adjustment for Gains Included in Income Defined Benefit Pension and Other Postretirement Plans Total Comprehensive Income Comprehensive Income Attributable to ALLETE Adjustment to apply change in Pension and Postretirement measurement date Common Stock Issued - Net Dividends Declared ESOP Shares Earned ESOP Compensation Expense Employee Stock Ownership Plan ESOP Compensation Expense Short-Term Investments Short-Term Investments AssetImpairmentCharges Loss on Impairment of Assets Reclassification Adjustment for Gains Included in Income Less: Non-Controlling Interest in Subsidiaries Unrealized Loss on Securities - Net Property, Plant and Equipment Jointly-Owned Electric Facility Employee Stock and Incentive Plans Quarterly Financial Data (Unaudited) Other Income (Expense) Valuation and Qualifying Accounts and Reserves EX-101.PRE 22 ale-20101231_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE EX-101.SCH 23 ale-20101231.xsd XBRL TAXONOMY EXTENSION SCHEMA 001000 - Statement - Consolidated Balance Sheet link:presentationLink link:calculationLink link:definitionLink 002000 - Statement - Consilidated Statement of Income link:presentationLink link:calculationLink link:definitionLink 003000 - Statement - Consolidated Statement of Cash Flows link:presentationLink link:calculationLink link:definitionLink 006010 - Disclosure - Operations and Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 006020 - Disclosure - Business Segments link:presentationLink link:calculationLink link:definitionLink 006070 - Disclosure - Investments link:presentationLink link:calculationLink link:definitionLink 006170 - Disclosure - Derivatives link:presentationLink link:calculationLink link:definitionLink 006080 - Disclosure - Fair Value link:presentationLink link:calculationLink link:definitionLink 006050 - Disclosure - Regulatory Matters link:presentationLink link:calculationLink link:definitionLink 006060 - Disclosure - Investment in ATC link:presentationLink link:calculationLink link:definitionLink 006090 - Disclosure - Short-term and Long-term Debt link:presentationLink link:calculationLink link:definitionLink 006120 - Disclosure - Other Income (Expense) link:presentationLink link:calculationLink link:definitionLink 006130 - Disclosure - Income Tax Expense link:presentationLink link:calculationLink link:definitionLink 006140 - Disclosure - Other Comprehensive Income link:presentationLink link:calculationLink link:definitionLink 006110 - Disclosure - EarningsPerShareAndCommonStock link:presentationLink link:calculationLink link:definitionLink 006150 - Disclosure - Pension and Other Postretirement Benefit Plans link:presentationLink link:calculationLink link:definitionLink 006100 - Disclosure - Commitments, Guarantees and Contingencies link:presentationLink link:calculationLink link:definitionLink 001010 - Statement - Consolidated Balance Sheet (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 004000 - Statement - Consolidated Statement of Shareholders' Equity link:presentationLink link:calculationLink link:definitionLink 006180 - Disclosure - Quarterly Financial Data (Unaudited) link:presentationLink link:calculationLink link:definitionLink 006160 - Disclosure - Employee Stock and Incentive Plans link:presentationLink link:calculationLink link:definitionLink 006040 - Disclosure - Jointly-Owned Electric Facility link:presentationLink link:calculationLink link:definitionLink 006030 - Disclosure - Property, Plant and Equipment link:presentationLink link:calculationLink link:definitionLink 006190 - Disclosure - Valuation and Qualifying Accounts and Reserves link:presentationLink link:calculationLink link:definitionLink GRAPHIC 24 alletelogo.jpg ALLETE LOGO begin 644 alletelogo.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_X0!F17AI9@``24DJ``@````$`!H!!0`! M````/@```!L!!0`!````1@```"@!`P`!`````@```#$!`@`0````3@`````` M``!@`````0```&`````!````4&%I;G0N3D54('8U+C`P`/_;`$,``0$!`0$! M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`?_;`$,!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`?_``!$(`%\` MU`,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0```````````0(#!`4&!P@)"@O_ MQ`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q008346$'(G$4,H&1H0@C M0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-CH.$A8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJ MLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+CY.7FY^CIZO'R\_3U]O?X M^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4&!P@)"@O_Q`"U$0`"`0($ M!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R@0@40I&AL<$)(S-2\!5B M7J"@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>X MN;K"P\3%QL?(RKR\_3U]O?X^?K_V@`,`P$` M`A$#$0`_`/[R=#T/1I=&TB:?2-,FDETO3WDDDL+5Y'>2UB\UY)/)^8G)+'@' MGH,`:W_"/:`>?[%TKZ?V=:?UAS2^'O\`D`Z+_P!@G3L?^`AD?\(]H'_0$TG_P7 M6G_QFC_A'M`_Z`FD_P#@NM/_`(S6Q16WL*7\B_'_`#"[[O[_`.NR^XQ_^$>T M#_H":3_X+K3_`.,T?\(]H'_0$TG_`,%UI_\`&:V**/84OY%^/^87?=_?_79? M<8__``CV@?\`0$TG_P`%UI_\9H_X1[0/^@)I/_@NM/\`XS6Q11["E_(OQ_S" M[[O[_P"NR^XQ_P#A'M`_Z`FD_P#@NM/_`(S1_P`(]H'_`$!-)_\`!=:?_&:U MR<=B?IS0"",CI1["E_(OQ_S"[[O[_P"NR^XR/^$>T#_H":3_`."ZT_\`C-'_ M``CV@?\`0$TG_P`%UI_\9K8HH]A2_D7X_P"87?=_?_79?<8__"/:!_T!-)_\ M%UI_\9H_X1[0/^@)I/\`X+K3_P",UL44>PI?R+\?\PN^[^_^NR^XQ?\`A']" MS_R!-(_\%UK_`#\C'^<55F\.:80%MM)T&([?O3Z1;W`+@@9,<1M<`=3ACD9' M[@C)Z2BCV%+^1?C_`)A=KK_6G^2^XY2X\):3.Q,<-K9KL\M5M=)T(KDYQ+_I MFEW1,XSTW&V(P3;;LFHHO!ND+$T-U&+]61$9I;+1[.5O*P0_FZ3I6FS1-D8' MV=E`S@``D#L**/84OY%^/^8^:5K7?Z_?N>?7'PP\&W3%IK'4MV>?L_B/Q'9^ MG3['JMMVJO\`\*F\#_\`/AK?_A9>,O\`YH:])HH]C2_D7X_YBN^[^]GD%U\' M/"EP9!;7WBO3'+*8VL_%&J7)A/EQ`[8=7FU.`D`'_CY2X_UIQ@BW"9DWP@U* MUCB'A_XA:Q:R!=C?\)#X<\'>)X/*+D_NP=#TNY\__58N+FZNS^Y'`^T7;7/N M5%/V-+^2/W#YY=_P7^1\U3^%OC-H23&S@^&OCB,Q1S1MJ7AZWT;4?-\F%9K2 M&&R;3=/QY_G?8Y[FZP;?Y[K[*V+<\X?C%;>&[B"Q^(_PC;P],T1C>\L[*QF@ MN9@#_P`>EK>06]O-;YXS;:Y=XY)ST'UQ5&]L;/4;:>RU"TM[ZTN8_+N;6\MX MKBWGC/\`RSFAE#02@GL00,#((Q2]C16\%;U:_P`PYI=_R/-_"7BKX7>-EC30 M/[`FNVB\Z32[G3K6TU2',8:;%G-$&F^SYV7,]K]JM`W`N645WO\`PCN@_P#0 M%TK_`,%UG_\`&*^4_B?^SO#%%=>(_A^LR3VTDEW<>&G?>I),LLDN@3X$\4\& MX`:?<$BYMB5L[NU-M;6MSA?"W]H*_P!(N8-!^(=\+G1=TD8\2W\G_$PT=QY) M4:Q/G%WI8/FFZU&Y'VJT^:[N[JYLSFU'1H]()>K;_P`A7?=_GU3ZW['LGQ!T M^QM=:MHK6SL[:/\`LR%C'!;V\,9=KJ]W.(UV@;L#G!)QR2>:*F^)JEM?M2,# M.DVW7_KZOO:BO-G2I_P"0!HG_`&"=._\`22&MBO0P_P#!H_\`7I?E$XI;OU?YA1116X@H!!Y% M"?AEX1\1?$'XE>,O"WP\\`^#M)O-=\6>./&_B+2O"GA#POHEA&9;S M6O$?B77KS3M&T;2K2#]]=ZCJ5W:VEJ,F2Z4(_#'@.[\,ZE:V,NC>._@;^S7!?>$?C_P#M.^#+BXU? M1+FU\;WFJ?LU_L_^,_#7B#2/$'PA_:.^(F+C2:`/T8UG6]'\.:7?:WK^KZ7H M>BZ;!]IU+5M8U"TTO3+"V&%:YO=0O9[>VLX`<9N+BX502!U`SY/IWQ@E\<06 MUU\(?"&J>.]&OH9)[7QWJ\EUX&^&=Q%-H-GX@T*_T?Q)J^EW7B#QMX<\2V>I M::=`\8?"_P`&>//!EWY]R&\0V]UIUU;5Q/@_]ECPG:>(-/\`'GQ?\5>,/VDO MB;I>H6>KZ'XL^,4VB7OA_P`#:EIFMWFNZ#=?"OX2^&M$\.?!_P"&VK>&I[QM M.TGQ_P"'?!8^,NJ:#9:19^/?B=XZO-,MM4/TAJNJ:;H>FZCK>LZC8Z/HVCV% MYJFKZMJE[;Z?I>EZ;IT$EYJ.H:AJ-Y-!;6EE9VMO-'SQKMK:E9 M8&&EV]W;BY/56FGV=A&8K.TM[:-OO+!#'&&X/^M*@&0\]3D]LXJ+3-2T_6=/ ML=7TF_M-4TG5;2TU+2]3TVZBO+#4=.O8HKJQOK*]M99H+VRO+>6.YM;FV=K: MXMID92R,"=*@`HK,U+4M/T?3]0U?5;^TTO2=*M+K4M3U/4[J*PT_3M/LXI;B M^O[Z]NY(;>SLK.WBEN;JYN'6VM[>%KEV54)INE:IIVN:;IVLZ)J%CK&C:S96 MFJZ3J^EWEO?Z7J>EZA;Q7=AJ.FWUK+<6M[97=K+!XO+V^NYXK>TL[2TB,UU=7<\VV""WM8899 M[FXN&06ZQL2<=`#0HKPY?VF?V<&7>O[0/P1,97<&'Q5\!E"G[W!!&O8(/D3= MSCRI\XV'"G]I;]G)"V[X_P#P37;N+%OBOX$&S)F)!SKO`S!-P>!Y,_)\@@`' MN%%#_`!WICZUX(\6>&_&.CQWESILNJ^%==TSQ#ID>H6GD_:[&2^T> MYN[5;VU\V'[5;-/]IMC*`RKD9X74/VA/@'I&I7^CZO\`''X0Z9J^DZA?:5JF MEZA\3/!MEJ&F:IIUT+*_TS4;*XUN"YL]0M+P+;7EAT`&//&;^C?'_P"! M'B+5;#0O#_QL^$NN:UK%PEGI.C:/\1_!VIZKJMY+'%)':Z9IUIK=Q=7MPT4L M+""UMW9A*K@8;D`]AHKD/%?CCP9X!T^'5_'7B[PQX+TBYOH-*MM4\6>(-+\. M:=/J=Q'/-;V$-[J]Y:VTM]1F>'@<'SH.1YX!`/<**\.;]IG]F]5WM^T#\$1'MW[ MV^*O@,($_=9.?[>&!^^AQ[RP]=XS[+;W-O=V\-W:3Q7=K=11W%M=6\D<]O

$[DG5BK*P*LP9:`+E?G_\`M(>$+?P_XOM==T^&."S\5VUQ M>3(C)DZY9RP0:E+#%%!F*&Y@N]-N&R2;F\FU&[8Y&:_0"OC+]JV^MWNO!6GI M+$UU!;Z_>7$!_P!;%;W;BWM)I+RR)3[*WD_9K+4+?3PGFR^8+,7.]1<>5&5G_``YT MBZT[PI8W4W[Q-"!+F31_*N#C!F:;29IU()`MYH%SE2`5Y,_B? MR_)&\=EZ+\C[=\/?\@#1/^P3IW_I)#6Q6/X>_P"0!HG_`&"=._\`22&J/BGQ M5X7\">&O$'C;QOXET'P=X,\)Z-J?B3Q5XL\4:OI_A[POX9\/:/:3ZCK.N^(- M>U>XM-)T?1=+L+>XU#5-7U.ZMK.SM89[N\NH+5"1WX?^#0_Z]+\HF,MWZO\` M,Z:OQZ_:C_X*T^$/!GQQN?V(?V(/AIJ'[=G[?KV%Y>:M\'/AUK^G:-\*/V?] M-L]5L]-UCQG^UG\;[@7?ACX2:%H1NI3<>%K:WU_XB:GKQ\/>$'\.Z!>>/O"N MJW7Y'_$;_@HY^V)_P7%^-_B/]BO_`()-:MXF_9N_9"\-72)^TA_P43U;1M6T M_P`9:CX/N/-@ATKX4Z#*=#UGP5!XUA%Z?"6GG4]`^,GCK[']KO+OX(^#M%\4 M:EKO]#O["O[`?[,G_!.OX+Z=\$OV:/`5MX9TIQ9W_C?QMJCQZM\2?BSXL@MO M*O/&WQ,\7RP6]_X@UVZFFN&M+8+:>&?#%I/_`,(]X,\/^&/#5KINAVFXC\[O MBK\#?#/[,WP5\>_\%,/^"S/QET_]KGQ_^S5X&OCEK'_!1OXY_ M#>:]U_1K.X_8>\:^#8?"OQ!_8,@LOBGJFJ?\()I?PV_96BCU#2]0USPKXI^+ M/PON--\4_"?P:NN^)=.\&:_9_2G_``6'_:#^)?[8?[?GP;_87^!_[)/Q<_;C M_9M_X)_^,/AO^U'_`,%"OA5\(+[P1I=OXY^+?B/0?$>O?LI?`/Q[>?$ZWM?" MVI>`+4Z=_P`)_P#$WPN#XSTKXBZ!XCG\/#2M!\7_``WN=3TK[Z;_`(*L_P#! M1E-P;_@@I^V(/+5]Q3X[?L\2`>5]KYBQK69A_HA`V@Y,L&,_:;079?WO/?RW M`_8GX`_'3X:_M._!/X5?M"?!OQ!%XH^%WQE\#>&_B%X*UI`$GFT/Q)IT&IP6 MNI67G&?2->TSS)M(\1:#=[=3T#7[34-&U:UMK[3KNV7YA_X*R!#_`,$LO^"E M.X_+_P`,"_MA\A=YX_9[^(9X_'CVSVQ7X@?\$-?CO\2/V3_VG?C3_P`$O/V@ M?V:_B]^QK\*OC-KGQ$_:R_X)E_#'XWZMX;UU]$\%WFJSZQ^TM^R_X*\>:%XY MUSP]XDLOA=XJO)OB?\,O!_AO2KOQF/`=Y\2OB9\4]5M3K?A@ZI^W_P#P5BR/ M^"67_!2GDC_C`3]L091=Y_Y-X^(>./I]..<^H!TG_!,]@_\`P3C_`&`)$C2) M)/V)_P!E61(H]_EQ1GX&>`RD,?F2S\*N$4M.[8"EF9@6/V_7Q'_P349G_P"" M1;S9^!O@0^;!#Y5OY$###)!]FMMBD)L3!6OMR@< MMWZO\SX._P""ID:2?\$R/^"C$Y M%9__``2=_P"46/\`P33_`.S`OV-__6=_AS6K_P`%1_\`E&7_`,%%O^S$_P!K MK_UG_P"(-97_``2=_P"46/\`P33_`.S`OV-__6=_AS0(_0&OF+]M6*.?]CC] MK2&:..6&3]F?X\))%(OF))')\+/%0DCECZ%6!YZY!'OGZ=KYI_;0_P"3._VL M?^S:?CM_ZJ[Q53CNO5?F!^+W_!*#_@E)_P`$TOBE_P`$S/V#OB-\2?V"/V5? M&7Q!\=?LJ?!/Q5XQ\8^+_@A\/]=\4^*O$>O>`M%U+4_$FN:Q?:3<:AJ5]K=Q M<2ZC=W-U)/!&D:GK_`(C.G:#\8K71M,GUK5+N[U$V^BV6EVEI]K%K966FVEM:V=I^ MNW[*7_!%#_@F'^Q#\8]/_:`_9;_9;TOX5?%W2M"UWPQIOC"U^)WQM\4R6FA^ M)+7['K5I#HWCKXE^)O#YEU"S/V8WQTHWEO;[EM+JV!(*`^Y/@-^SA\`/V7?! M=U\./V;_`(,?#3X%^`+W7K[Q5=^#OA9X-T'P/X=O?$NI6FG:=J7B"[T?0+'3 M[6XU6[L-(TBPNM0G1KMK32]/M&;[+:6R#Y@\8_\`!)?_`()B?$+QCXM\?^/? MV!OV3_&/CGQ]XG\0^-O&OB_Q/\#_``%KOB3Q5XN\6:S>:_XE\1Z]K6I:'MZC>:C>WUS>$_B?\`"S]A M3]E;X??$7P'K,'B'P=XW\(?!/P'X?\1>&=>LXI8;35-'U?3-$MKJSO[87$K6 ML]NP^S7(2[7%Y;VSK\16W_*SEK'_`&@@\-?^O`_%=?N_0!_/1_P<,^"/!WQ) M\#?\$G/A]X_\,Z'XS\#^-_\`@N)^P#X0\8^$_$NFVNL:!XI\*>*A\6]!\2>' M-8TV^AN+74=(UW0]0U'1]5T^Y!MKO3+VZM+I3:W#*?N;_AS-_P`$FO\`I'#^ MQE_XCU\-?_E%7P1_P<:_#3P3\:?A-_P2^^#?Q.T"'Q7\-?BY_P`%J_V$/AE\ M1/"\]WJ.GQ^(_`OCN#XM^%O%F@'4]'OM-UG3%UG0M2OK!M0T74]-U2U6?=97 MEK=8N%]#/_!LI_P0Z;S?^,$M#'F(T9Q\3)T_?0;6.&YZ4` M?6O_``YD_P""3/\`TCC_`&,__$>_AI_\SU?HWI&EZ?H>F:;H>C6-KI6C:186 M>E:3IMC"EM9Z=IFG6T5G96%G!#B""WM;:"*VMK>%0L%O$H!7A:^5_P!C7]A/ M]E/_`()]_#/Q%\'?V0/A1;_![X<>*OB!J?Q1UWPQ:^+O'_C""\\=ZMX9\*>$ M-2UZ*]^(?BOQ;J]E]J\.^"?"^GMINFZC:Z4#IIO%LUO]0U.[N_KIF5`S,0JJ M-S,3T'?Z#C^@%`%:ZNK:PM;F\NYH[6SM();FZN)Y!%!;00Q&::664X$,,$,9 M9F.%`Y/0FOSRO1JGQY^*MP+&2XMM-E,<-O-<1^9_8OA?3)883="&$DB>YN)A M9-B#[39Z'HM[+;W%W?@?Z7="V^Q$_Z+_:?T)\-?ASI/PWT)=,LV-SJ=X8 MYMLW]KIFC:-H^F:5]MU/5M2U.]FMK'3=,TVP@FN;R_NKFWM+2VBFN;EU52U?P MS?MT?M<_M#?\%XOVJ_!_[#/[*>H:GX,_8]N/&=FFE+<6%_I]Q\6]/\-W_P!L M\2?M%_''1[\Z9X@TWX5^`(;+_A(/A/\`">ZMM*NM5U:+2-7\8WF@_&"Z\!^& M/AS^IG_!>3]J77KKP'\.?V%_`5_-::?\0?#GASQU^T7?V&=4OUT^XO[;P!X)-E_PD4MG/#]HU+3 M;CQ+\08KO3_%6GSW5M;73?#?POC2+8Z8-3U7T**E[&E??V$6K[[02^?K\]3! M\W-TMU_2WEM;R^1^P7[('[(OP4_8?^!'A#]GOX!^%X/#O@GPPL][J&H30VA\ M2>-O%VI&*7Q'X\\;:E:6]J-8\5>))X8#=7/V:VM-,TVSTWP]HMGI7AK1-"T/ M3?I>X%RT,JVTD,-TT4B033P27,,4Y0B"2:&*XM)9H%F&YX!=6S3H"BW4#,&J MW16P'P)_P3S_`&!O!/\`P3^^$WCWP9H_C?Q%\8/BC\:_C5\2OVB/VAOCSXTT MW2](\9_&;XR?$_79=3U_Q=K&C:'_`,2#P_;V]A%IFD:9X>\.6UGH=K]BN=62 MR&L:YK=W>??=%%`'Y_?MT_L#^%?VTF_9T\:6/C_7?@A^T!^R1\=/#GQX_9^^ M.G@[0-"USQ)X7U33S'9^-OASX@M=4^RZCKWP?^+>A)!I'Q-^'^F^)O"^G^,F MT+PBWB.YU72/#O\`86I_0W[3_P`$-/\`VF_V:_VAOV;=6\07_A72OV@?@?\` M%?X(:GXHTRRM;_4_#6G_`!5\!>(?`EYKNGZ?>&WM;V]TRWUV2_M+6XN+>WN; MFW%NUS;AMP][HH`_GZ\$?\$>?VV/AKX$\&_"_P"'_P#P7`_;%\*^!/ASX2T# MP%X%\-V'P6_9N^Q^'/!_A/0)O"WA71()CX._M">'1="M-!L5N+F[-U=?V;/_`(+N?MH(Q,C(&^#/[-912#,8!Y,/@ZW7 MY?*TC[5C;]J\C6.+8ZVQM/W9HIIM;,#YF^+'[/+_`!F_8^^)7[)OC7XD>*-3 MD^*W[-OC']G;Q=\7IK#17\::@_CKX8:E\-]?^(TVF0V]OX?_`.$INCJ=YXF: MQ6SMM#_M6?[,MHMGBW'Y&?#W_@C=^VC\)/AYX!^$WPT_X+>?MB^$?AW\*O!' MA?X;_#SPM8?!C]G26P\,>!_!&C0^'?!V@02S>%#=7L.B:'I'AO3A<:CW75;@?A*W_``2P_P""@JNTD?\`P7<_;25@ MUPT0D^#/[-,L29.L>7YL1\'XF`%[89'&X6-QM%N9],&A?JD_P0U3Q!^RO+^S M;\0_BAXJ\>ZUK7[/\GP0\;_&K4;'1K+QKXTU34OAT?`?B7XHWFFPV]QX>L_% M/B2]GO?%5UIUO:W.AV^JW;6J6C60$!^B**;;?;[DOR0'\]7PF_X(Q_MD?`WX M9_#_`.#OPL_X+:_M>^$/AK\,/"OAWP/X'\)Z;\%/V;WL?#WA3PU8Z7INF:19 M3ZGX/U*_:"TL+2]M[0ZC>7ET!-IWVNZNVTZY.J=^G_!+?_@H/E=__!=O]LMP M?+\W;\#_`-F.,/S9>=Y8_P"$')AW"+4BGWA;_;+`$W!TZY&J_NB0H!8X``Y& M1@>F3D<$<_GS7Y0?&S_@H-JOCSXEV_[*_P"PE9Z!\5/C;XA%W8ZI\6;JZ2^^ M$?PBL[*Z@M_%/BHSP0W5OX]E\$03F#6+JQN3X-T'Q1>:;X6>\\<_$B,?!K7* MC&537[W?;R7WZ=#"KBH4.6-6I[TM(KJ[M?UZ:==?H+]B_P#9D^/?[-.D>/-. M^.O[;WQ@_;6O?%FI>'K[P[J_Q<\&_#GPA<^`8=,L;V'6-/T*'X>:)I:WEMXC MO[S[=GZ?9Z?X5^/-I\7?B%XW\=^`]>\;ZUJL7V/QMJ/PFU+Q M(?"/A3P?X^US5KSPNWA_X6_\(7:_"_5)O`^E?#;2+6RUK7[FT_3;]D?]L;X8 M_M=^"9-=\*/_`,(YX]\.1V=M\1OA7J]_;7'B/P7J-X)!:7<5Q`L,7B7P3XA$ M%Q<^$/'&F6ZZ9K]G#<65[:Z%XPT/Q5X0\/TZ,^3VJO*DKIW5[72[:];NZMW. M:&8498B6%FU2Q%DXN6GM5:+3C?=NUGOIYF1'^Q=X<3_@HI>?\%$#XWUYO&%U M^Q9I?[%P^&XT[3!X9C\-Z?\`'+5_CB?&[:L=VKS:[/JFI+H":BD)QV)^@S61Z!^=?_``4C_8#B_P""A'PQ^"7@B#XX^-_V>?%7 MP`_:B^%'[5_P[^)WP_T#POXD\1:/\1/A!8>+[/PJ(=+\86]UH)%K>^*SK-K/ M=6EU;KJFCZ>+NRO+)KJTN?CY?^"6W_!0@;!)_P`%VOVRF!V>:5^!_P"S'&'_ M`./+SO*`\#DP[A%J90[M2VI_>'P\L/BUX\^&_P]^%"^-_ M$?C'1_`7@KP9X&^(/QR\:Z?I^C>*/C!XC\-Z#IVD:]\0=9TC0)OL$.J>-+[3 MIO$]WX8T2YM;6TN=8_XG%UIMK=6NEV_NFF_"?6O%VI6WB7XOZK'K4\:^;9^" M]-,T?AK1Y)N3#(1,3?$)Y5O=``BZ,.V\O-3M#BO>;>VM[.V@M+6"&UM;6)+> MWMK>)(+>VMXD$,4,,46(8H((1M2$#:JJ`H4*!0)WOKOI^2_IGEMO\)=,T3X? M>*?!/@K7=:\%ZOXD\.ZII$?Q#TI-*N?&6E:S=Z5<:;I_BRS;4M,N=&FU70[B M7^UM*L;K2;C0%NX2#I+6=Q-_BAX@^+NM_VC)OQIYM;.SM-/.G>$-(T31_]&%I)7E]=,55K:UMO3:*!' M@WQ0_P"1@M?^P1;_`/I9?T4?%#_D8+7_`+!%O_Z67]%>3/XG\OR1O'9>B_(_ ME6_:0\&ZG\3?VL?C[X]O;)8M0NO'=QX86XLX)K>3^S_AQH6@_#+1Y?[2B_LV MX_M3^Q/#>FXTZV_Y"@U+3OM>K75W=:5:6O\`15_P3:LK+1_V3/!7ABS6TCE\ M,>(?'>G:A':601:I/+<"WGF^S6']FV]WI^IE%4[:ZM[VVM[RSN(KJUNHH[BVNK>6.>WNH)HUFBF@ MEBS#+!/$((M-O9-#L];O M;O2M&O-7BM9#IMIJVJ6.G:S?:=IUU>^5;7FH6FE:K=6=K)+>6NEZE)"MI>"#;Z?9P7?B>WN=3\4Z]=:'X6TGXC^(-4\8:+=:!H/3@Z$<144)35) M)Z[=T]'WM=_YGC9QF-3+<*ZM.@ZU[7W:2:7\33373?[K'TG^U#^W[\P'XI_&*]UR[/FV/CS6;3[+;Z%I0T*" M4>(/`'AS7CX.T'0)=?U?XP>-_$_@2ZU;3/`G[6UMJ$/@?PS+/+;Z7]HM=.N==NS1Z%&?B!X4\1>!_&FAZ=XF\)>*]&U#P]XDT#5K>*]T MS6-&U>UEL]2L+VWE&)K>[MII8&4X.#N4A@"/Y"OCQ\)_BQ^P/^TK M,O#FH^&H[WQ?\'OBM:6UO#<>*_AOJ,LWDVVK3_\`$QT#Q7JGAR?38=`^*WAK M6;:UTO7O%$-OXMU?P3H/A#XH>#?LG]<&O?$;P3X:E-KJOB&S6]5F3^R[$7.L M:QY@SF*/1M'M]1U:6;IB%+0M@].*_)'_`(*R>(_A]XJ^`.AW/B[PK>>%O'-E MXNT^]^!.LZ[=VUAXSU/7COC71;/PO9_VE<7?@G4?",TY\0W7B4-X8TS78 M/!/B"TT?7_B1HGPWT/49P-:<*O)R>UI5='%W:N^7R_E;M9_B;\0X.%?!O$^T M6'K85JK1KWMJK.UUOM9)W[KH?1_[#O\`P4#\%_M2>'U\)>-Y-!^'_P"T'X:T M[[3XL\#_`&P6>C^,-+M+6&>;XC?#'^TKZYU"?PM<"43:_P"%=3N[CQC\,-4) MTCQ*VK>';SP7\0_'GUSJ'Q?T>>[_`+)\"Z9J7Q$UT3?9I+?0(S'H>GR%?.\[ M6?%5Q#_9%C97,$4_V2Y@-W;W5U`;,$75S:AOXT/A5\*OB/\`&[XA>&/AY\'- M"UCQ#\0;RXM];T.^TV__`+(3P@=&UF&&;X@:[XT@Y\"Z7X*^Q_VAJOC>T6[N MSKVK_P!D>#K37_'OB7P9X-\4?VG_``NT#Q3X3^''@3PQXXU_2?%GC/0/">A: M-XI\5:)X;M/"&C^)/$-EID$.LZ]9^%M.F?3]!@UG4(9[_P#LC3B+.T-QMM;: MTM52UMGC:%&A6O!_*Z3C=)V?WVVZ;[$"=-T+7[-+JSFTO3)D89AN;*\CLD$%_9RDL8;V$9"DY5K:2>SNEN+*YN M;:X^8-6^!]YX)N#>QVS:_IQOH_)U2&WAO+FPLYI/L9%YH\L!MHI[47D>HG4! M:ZI:W7]F7/VS^S/M%M:W7V/X>_Y`&B?]@G3O_22&MBO1PSM1I>2O^/\`P#*_ M+)V[O3RN?"^@_$75/`B^;;:I;QV=Q-9I=:5J2W5YI[W$-K#_`&G)#Y,]SJ%G M/Y_VNWNQ;"[U2UU3[-=ZQ9ZI9ZC:?9?8_#/[2'@'6DCCUE[SPK>[4\Q=03[7 MIGF'G]SJ=F&Q;@8/VC4K73!GC`KTSQ)\._!/BQ6&N^&]-NYF6.);Z.'[)J") M!_JH!J5DUKJ'DC_GW^T_9]HP5!QGQ76/V7?"LZEM%\0:WI4QD+XO5M=6M8XO M+.(H88X=,N,>;\Q-S=W.1G@<"M_<_O?@2?1&F:_HFMQI/H^L:7JD;`LKZ??V MMX-BR^5(*]%N'B(,=S>QZ MAHEQ![1"SM];/YW/Y5?M_AA^T'H`0Z3XT^V1V^98K:'Q5J=U;M*!/,8(K37; M&"VSY^X$7)^RD20XX4FU3Y>C?S2_._Z`?:%%?'D>G_M4VAD@BU2.=$8B-Y)? M!MP7B;S,/%-=V_VDKG;\UU_I(^F:VK>W_:C8L9+[P_%AY$871T$;5GM/.62/ M['8W`S;2S>2`PS]I@W8NK(`W*`^J:*^:8]`_:8N(RW_":^#;$F21=@M;5Y-L M,LJ>8?\`BCKF#=<$K,<IVTJD2V^F7`T**0`DQGRA<:E;`* M3$=WV7SLQ#Y^:TK/]G_X=(S3ZM9:OXGO'`)OM?US4+BXQMFBV8LY]/MR/(F: M'_CV'RX)).:`.JUCXH_#S19#%J/C'0X95\\O;V]Y'J%U&T$;2SK+::<+FXC; M`VH&0&XN&^S6X>Z*H?G'X\^'/@C^U)X'G\">+/A=XQ^*&F+%?&^I_V:WAO7+:WO0#!`S?V[I4VH:1JVD:YX']+EM%VVTUEI-A#;C(A)4-@X M'7LH)'."?;KBA2Y9*SL^G]7^[S1G.G"K!TYQC*DUL^OK>^R6SV>M]S^93Q-^ MSCXK_P"";7B;P_\`M)S-\9?%8\/WVLVFD^)/#UC\/M$\%V&AZE?_`&+3?`?Q M^UX^(O%MQIVA>+;<:/;ZMK&FZ!I>@:_XRFM]6T>[\+^.[;P%I=K^T'[/?BWP M;^U7\+_#_P`5['XE^,/%FDZO&EGKG@XW=KX+E\%>)+&WA.N^!/&.@^%)H"=> MT6XN\77VO5-5TO5;2\L/$7AR^U3P[J/A;6W^N-1T[3]:TZ^TC5;"SU32]4M+ MK3-3T[4+:&\T_4+"[BFM+VPO;.XB>WO+.Z@DEM;JVN(W@N+>1D=6#,#^7TO[ M.>K_`+!GQ#\6_M`_L\2"?]FGQ$VGZM^T;^SUJ>K70B\">&M(AO/[<^-7P3O= M2N;J%;WP#8/;Z[J_PON&LQJWP[T[Q3X<\'7>K:KHGP2^''AGIE4>(BN;2JK6 M:>]]+-/77:__``+^72PO]F5&\/%_4YM+V.EJ3T?/%OH]VM.C/LSXI>/O@K^R M3\+_`!-\4O%5M:>&?#>A6]O"R:19)?\`BCQ7K%W+'9:%X2T&"687^O>(];U# M[/8:583WBVYN9_M=]>6=C;ZCJ5M_-'#HW[1?_!47]ICQ!K^G6=OIRQV>G:/? M:K)YQJ[MX"^ M&VF:7JGPY^BKG4_B;_P6+_:'EL?#6MR?#O\`9A^#D>FZPC7AMKG5M(TGQ?#K M%KH/BN'PQ-.]MXB^+?Q1TG3=?L-)FU.V/A?X2>`_[2MKJZU35=1\5>#/C%_0 M#\&/@O\`#KX!>`=,^''PO\/V_A_PWIDMQ=2A7>XU/6=9O<3:GKVO:G+FYU;6 M]3D`DN[^Y;=MCM[6V6VL;6SM+;2#CA(>ZDZTO*WLMM;_`#\NW17X*U&MGE90 MFW2P%&2?+%ZXFW+TO;D2TVUOW9PG[,G[+?PR_96\"MX1\`V,MUJ>KRVVI>./ M'&J+#)XH\=Z_#'Y*ZCK-W'@065J)9X-!\.V(@T/P_9S36UA:(US>3W?TJ!MR M2>O7C_/K2`;03][IGC'(/X]S3N"/4'Z^OY]?\XKDE*4Y.4G=OK>[?K?_`#9] M!2I4J-*-.DE&FDK)+3HM$N_X/77HM%%%2;A1110`4444`>#?%#_D8+7_`+!% CO_Z67]%'Q0_Y&"U_[!%O_P"EE_17DS^)_+\D;QV7HOR/_]D_ ` end XML 25 R19.xml IDEA: Other Comprehensive Income 2.2.0.25falsefalse006140 - Disclosure - Other Comprehensive Incometruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_ComprehensiveIncomeNoteTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1 falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 14.</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other Comprehensive Income (Loss)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding=" 0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Comprehensive Income (Loss)</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-IN DENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt ; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr>< tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$74.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$60.7</font></div></td><td style="BORDER-BOTTOM: black 2p x solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$83.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Comprehensive Income</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; F ONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Unrealized Gain on Securities</font></div><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Net of income taxes of $0.6, $1.7, and $(3.7)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.8</font></div></td><td valign ="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6.0)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Reclassification Adjustment for Losses Included in Income</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIG HT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;Net of income taxes of $&#8211;, $&#8211;, and $(2.7)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3.7)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;Defined Benefit Pension and Other Postretirement Plans</font></div><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Net of income taxes of $&#8211;, $4.1, and $(13.3)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align=" right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(18.8)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font s tyle="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Other Comprehensive Income (Loss)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SI ZE: 10pt; FONT-FAMILY: times new roman">(28.5)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Comprehensive Income</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$75.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$69.7</font></div></td><td valign="bottom" align="right" w idth="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$54.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less: Non-Controlling Interest in Subsidiaries</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.5)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.3)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Comprehensive Income Attributable to ALLETE</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign ="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$76.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$70.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$54.0</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>& lt;div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Other Comprehensive Income (Loss)</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style=" DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT - -SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unrealized Loss on Securities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(1.0)</font></div></td><td val ign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(1.8)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Defined Benefit Pension and Other Postretirement Plans</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(22.2)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(22.2)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Accumulated Other Comprehensive Loss</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(23.2)</font></div></td><td style="BORDER-BOTTOM: bla ck 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(24.0)</font></div></td></tr></table></div>Note 14.Other Comprehensive Income (Loss)Other Comprehensive Income (Loss)&#160; &#160; &#160; Year Ended December 31201020092008Millions&#160; &#160; &#160;falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and lo sses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 14-26 falsefalse12Other Comprehensive IncomeUnKnownUnKnownUnKnownUnKnownfalsetrue XML 26 R11.xml IDEA: Investment in ATC 2.2.0.25falsefalse006060 - Disclosure - Investment in ATCtruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_EquityMethodInvestmentsTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 6.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investment in ATC</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" ali gn="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Investment in ATC.</font> Our wholly-owned subsidiary, Rainy River Energy, owns approximately 8 percent of ATC, a Wisconsin-based utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota, and Illinois. ATC rates are FERC approved and are based on a 12.2 percent return on common equity dedicated to utility plant. We account for our investment in ATC under the equity method of accounting. As of December 31, 2010, our equity investment balance in ATC was $93.3 million ($88.4 million at December 31, 2009). On January 31, 2011, we invested an additional $0.8 million in ATC. In total, we expect to invest approximately $2 million throughout 2011.</font></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" widt h="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ALLETE&#8217;s Interest in ATC</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td> ;<td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Investment Beginning Balance</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$88.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN- LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$76.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash Investments</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: tim es new roman">7.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity in ATC Earnings</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.9</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Distributed ATC Earnings</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(14.6)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(13.8)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px sol id" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Investment Ending Balance</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$93.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.95pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$88.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ATC Summarized Financial Data</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%">& lt;div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance Sheet Data</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" widt h="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times ne w roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Assets</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$59.9</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMI LY: times new roman">$51.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-Current Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,888.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,767.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,948.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,81 8.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Liabilities</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="r ight"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$428.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$285.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-Term Debt</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,175.0</font></div></td> <td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,259.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Non-Current Liabilities</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">84.9</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">76.9</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Members&#8217; Equity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,260.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-R IGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,196.4</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Liabilities and Members&#8217; Equity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,948.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-I NDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,818.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Statement Data</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new ro man">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MAR GIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td ><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revenue</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$556.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$521.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$466.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Expense</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">251.1& lt;/font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">230.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">209.0</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" alig n="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">85.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">77.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">69.6</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><d iv style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$219.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$213.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0 pt; MARGIN-RIGHT: 4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$188.0</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"></font>&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ALLETE&#8217;s Equity in Net Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FON T-FAMILY: times new roman">$17.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.3</font></div></td></tr></table></div>Note 6.Investment in ATCInvestment in ATC. Our wholly-owned subsidiary, Rainy River Energy, owns approximately 8 percent of ATC, a Wisconsin-based utility thatfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis item represents disclosure of information related to equity method investments in common stock. The information which should be considered for disclosure includes: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -Subparagraph a, b falsefalse12Investment in ATCUnKnownUnKnownUnKnownUnKnownfalsetrue XML 27 R10.xml IDEA: Regulatory Matters 2.2.0.25falsefalse006050 - Disclosure - Regulatory Matterstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_PublicUtilitiesDisclosureOfRateMattersus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 5.</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Regulatory Matters</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Electric Rates.</font> Entities within our Regulated Operations segment file for periodic rate revisions with the MPUC, the FERC or the PSCW.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">2010 Rate Case.</font> On November 2, 2009, Minnesota Power filed an $81 million retail rate increase request to recover the costs of significant investments to ensure current and future system reliability, enhance environmental performance, and bring new renewable energy to northeastern Minnesota. Interim rates were put into effect on January&#160;1,&#160;2010, and were originally est imated to increase revenues by $48.5 million in 2010. In April&#160;2010, we adjusted our initial filing for events that had occurred since November 2009 &#8211; primarily increased sales to our industrial customers &#8211; resulting in a retail rate increase request of $72 million, a return on equity request of 11.25 percent, and a capital structure consisting of 54.29 percent equity and 45.71 percent debt. As a result of these increased sales, interim rates were approximately $52 million for 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On November 2, 2010, Minnesota Power received a written order from the MPUC approving a retail rate increase of approximately $54 million, a 10.38 percent return on common equity and a 54.29 percent equity ratio, subje ct to reconsideration. In a hearing on January 19, 2011, the MPUC denied all reconsideration requests. Final rates will be implemented after acceptance of the compliance filing, estimated in the second quarter of 2011. Minnesota Power will continue to collect interim rates from its customers until the new rates go into effect. We expect no interim rate refunds will be issued.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">FERC-Approved Wholesale Rates. </font>Minnesota Power&#8217;s non-affiliated municipal customers consist of 16 municipalities in Minnesota and 1 private utility in Wisconsin. SWL&amp;P, a wholly-owned subsidiary of ALLETE, is also a private utility in Wisconsin and a customer of Minnes ota Power. In 2008, Minnesota Power entered into formula-based rate contracts with these customers.&#160;The rates included in these contracts are calculated using a cost-based formula methodology that is set at the beginning of the year using estimated costs, and provides for a true-up calculation for actual costs. The estimated true-up is recorded in the current year, then finalized and billed or paid to customers in the following year.&#160;The contracts include a termination clause requiring a 3 year notice to terminate. To date, no termination notices have been received.</font></div><div>&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">2010 Wisconsin Rate Increase.</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">&#160;< /font>During 2010, SWL&amp;P&#8217;s retail rates were based on a 2008 PSCW retail rate order, which was effective January 1, 2009. SWL&amp;P&#8217;s 2011 retail rates are based on a 2010 PSCW retail rate order, effective January&#160;1,&#160;2011, and allows for a 10.9 percent return on common equity. The new rates reflect a 2.4 percent average increase in retail utility rates for SWL&amp;P customers (a 12.80 percent increase in water rates, a 2.49 percent increase in natural gas rates and a 0.68 percent increase in electric rates). On an annualized basis, the rate increase will generate approximately $2 million in additional revenue.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Defer red Regulatory Assets and Liabilities.</font> Our regulated utility operations are subject to the accounting guidance on Regulated Operations. We capitalize incurred costs, as regulatory assets, which are probable of recovery in future utility rates. Regulatory liabilities<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>represent amounts expected to be refunded or credited to customers in rates. No regulatory assets or liabilities are currently earning a return.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Regul atory Assets and Liabilities</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BO TTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Regulatory Assets</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Future Benefit Obligations Under</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td vali gn="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Defined Benefit Pension and Other Postretirement Plans <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$257.9</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$235.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Boswell Unit 3 Environmental Rider <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(b)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.5</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right">< font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Fuel <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(c)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.6</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; F ONT-FAMILY: times new roman">20.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Taxes</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.3</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.7</font></div></td></tr><tr bgcolor="white"><td valign="bottom" alig n="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Asset Retirement Obligation</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.8</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left "><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred MISO Costs</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.9</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Premium on Reacquired Debt</font></d iv></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.8</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"&g t;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Regulatory Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%">&l t;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$330.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$308.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="78%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> &#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Regulatory Liabilities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Taxes</font></div>&l t;/td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$23.4</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$25.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Plant Removal Obligations</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16.9</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPL AY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Regulatory Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISP LAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$47.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="left"><font style="DISPLAY: inline; F ONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">See Note 15. Pension and Other Postretirement Benefit Plans.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(b)</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">MPUC-approved current cost recovery rider related to environmental improvements that were placed in service in November 2009. As part of our 2010 rate case, on November 2, 2010, the MPUC approved a proposal to move the rider balance to Property, Plant and Equipment t o recover in rate base, which will be effective upon a final rate order.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(c)</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">As of December 31, 2009, under our 2008 rate case, $5 million of this balance related to deferred fuel costs incurred under the former base cost of fuel calculation. During the fourth quarter of 2010, it was determined that the asset was no longer probable of recovery in future utility rates and was therefore written off.& lt;/font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current and Non-Current Deferred Regulatory Assets and Liabilities</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: bla ck 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Current Deferred Regulatory Assets <font style="DISPLAY: inline; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align= "right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$20.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Non-Current Deferred Regulatory Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style=" DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">310.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">293.2</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Regulatory Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: bloc k; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$330.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$308.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Current Deferred Regulatory Liabilities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Non-Current Deferred Regulatory Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><fo nt style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$47.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Regulatory Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font sty le="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$47.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY : inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Current deferred regulatory assets consist of deferred fuel costs and are included in prepayments and other on the consolidated balance sheet.</font></div></td></tr></table></div>Note 5.Regulatory MattersElectric Rates. Entities within our Regulated Operations segment file for periodic rate revisions with the MPUC, the FERC or thefalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringDescribes all of the specific events that have or may impact rat es and amortization of regulatory assets and liabilities (for example, pending or recently concluded regulatory proceedings, environmental requirements). Specifics may include quantifications related to rates, costs, and earnings. Events may relate to rate moratoriums or price caps.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 71 -Paragraph 6 falsefalse12Regulatory MattersUnKnownUnKnownUnKnownUnKnownfalsetrue XML 28 R8.xml IDEA: Property, Plant and Equipment 2.2.0.25falsefalse006030 - Disclosure - Property, Plant and Equipmenttruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_PropertyPlantAndEquipmentDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 3.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Property, Plant and Equipment</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cel lpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Property, Plant and Equipment</font></div></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font>< ;/div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="middle" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="mid dle" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulated Utility</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,649.2</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2,415.7</font></div& gt;</td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Construction Work in Progress</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">86.6</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">89.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align ="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Depreciation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(975.8)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(928.8)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align=" left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulated Utility Plant &#8211; Net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,760.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,576.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%">< div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-Rate Base Energy Operations</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">88.4</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">87.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="D ISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Construction Work in Progress</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.5</font></div></td><td valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Depre ciation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(48.0)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(45.5)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-Rate Base Energy Operations Plant &#8211; Net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> ;Other Plant &#8211; Net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pro perty, Plant and Equipment &#8211; Net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1,805.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="middle" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.05pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1,622.7</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roma n">Depreciation is computed using the straight-line method over the estimated useful lives of the various classes of assets. The MPUC and the PSCW have approved depreciation rates for our Regulated Utility plant.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="84%" colspan="5"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Estimated Useful Lives of Property, Plant and Equipment</font></div></td></tr><tr bgcolor="white"><td valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">& ;#160; </font></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="18%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulated Utility&#160;&#160;&#8211;</font></div></td><td va lign="bottom" align="left" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Generation</font></div></td><td valign="bottom" align="left" width="18%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1 to 35 years</font></div></td><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-Rate Base Operations</font></div></td><td valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style=" DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3 to 61 years</font></div></td></tr><tr bgcolor="white"><td valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" align="left" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Transmission</font></div></td><td valign="bottom" align="left" width="18%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42 to 61 years</font></div></td><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="lef t"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Plant</font></div></td><td valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5 to 25 years</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Distribution</font></div></td><td style="BORDER-BOTTOM: black 2px solid" va lign="bottom" align="left" width="18%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14 to 65 years</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold"> Asset Retirement Obligations.</font> We recognize, at fair value, obligations associated with the retirement of certain tangible, long-lived assets that result from the acquisition, construction or development and/or normal operation of the asset. Asset retirement obligations (ARO) relate primarily to the decommissioning of our utility steam generating facilities and land reclamation at BNI Coal, and are included in Other Non-Current Liabilities on our consolidated balance sheet. The associated retirement costs are capitalized as part of the related long-lived asset and depreciated over the useful life of the asset. Removal costs associated with certain distribution and transmission assets have not been recognized, as these facilities have indeterminate useful lives. Conditional asset retirement obligations have been identified for treated wood poles and remaining polychlorinated biphenyl and asbestos-containing assets; however, removal costs have not been recognized because they are considered immater ial to our consolidated financial statements.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Long-standing ratemaking practices approved by applicable state and federal regulatory commissions have allowed provisions for future plant removal costs in depreciation rates. These plant removal cost recoveries were included in accumulated depreciation. These plant removal cost recoveries are classified either as AROs or as a regulatory liability for non-ARO obligations. To the extent annual accruals for plant removal costs differ from accruals under approved depreciation rates, a regulatory asset has been established in accordance with the guidance for AROs. (See Note 5. Regulatory Matters.)</font></div><div>&#160;</div><div><table style="FO NT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Asset Retirement Obligation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="1 3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation as of December 31, 2008</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.5</font></div></td></tr><tr bgcolor="white"><td valign="middle" align="left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman" >Accretion Expense</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additional Liabilities Incurred in 2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.8</font></div>& lt;/td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation as of December 31, 2009</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accretion Expense</font></div></td><td valign="middle" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.9</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additional Liabilities Incurred in 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.8</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align=" left" width="71%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation as of December 31, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$50.3</font></div></td></tr></table></div>Note 3.Property, Plant and EquipmentProperty, Plant and Equipment&#160; &#160; As of December 3120102009Millions&#160; &#160; Regulatedfalsefalse falsefalsefalseOtherus-types:textBlockItemTypestringDisclosure of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, building and production equipment. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. This element may be used as a single block of text to include the entire PPE disclosure, including data and tables.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 falsefalse12Property, Plant and EquipmentUnKnownUnKnownUnKnownUnKnownfalsetrue XML 29 R22.xml IDEA: Derivatives 2.2.0.25falsefalse006170 - Disclosure - Derivativestruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 17.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Derivatives</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="ju stify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Occasionally we enter into financial derivative instruments to manage price risk for certain power marketing contracts.&#160;Changes in a derivatives&#8217; fair value are recognized currently in earnings unless specific hedge accounting criteria is met.&#160;The mark-to-market fluctuations on any cash flow hedge are recorded in other comprehensive income on the consolidated balance sheet.&#160;During 2010, we did not enter into any new derivative instruments, and have no outstanding derivative contracts at December 31, 2010. There were no changes in fair value of derivatives recognized in 2010 in earnings, and no mark-to market changes in cash flow hedges recorded in 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: i nline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During 2009 we entered into two types of&#160;financial derivative instruments consisting of cash flow hedges for an energy sale that included pricing based on daily natural gas prices, and FTRs purchased to manage congestion risk for forward power sales contracts.&#160;As of December 31, 2009, approximately $0.7 million remained in other assets on our consolidated balance sheet for FTRs, which settled monthly throughout the first five months of 2010 at cost.&#160;During 2009, changes in the fair value of outstanding derivatives resulted in the recognition of $.04 million of revenue in the first two quarters, and a decrease in revenue of $0.4 million in the third quarter of 2009 when the energy swap contract ended. The mark-to-market fluctuations on the cash flow hedge in 2009 were recorded in other comprehensive income as a $0.1 million increase in fair value in the first quarter and a decrease of $0.1 million in the second quarter of 2009 .</font></div>Note 17.DerivativesOccasionally we enter into financial derivative instruments to manage price risk for certain power marketing contracts.&#160;Changes in afalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis element can be used to disclose the entity's entire derivative instruments and hedging activities disclosure as a single block of text. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expe nses arising there from, and the amounts of and methodologies and assumptions used in determining the amounts of such items.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 45 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44 falsefalse12DerivativesUnKnownUnKnownUnKnownUnKnownfalsetrue XML 30 R18.xml IDEA: Income Tax Expense 2.2.0.25falsefalse006130 - Disclosure - Income Tax Expensetruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_IncomeTaxDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 13.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Income Tax Expense</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align ="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March 23, 2010, the Patient Protection and Affordable Care Act, which was subsequently amended on March&#160;30, 2010, was signed into law by the President. The law includes provisions to generate tax revenue to help offset the cost of the new legislation. One of the provisions changes the tax treatment for retiree prescription drug expenses by eliminating the tax deduction for expenses that are reimbursed under Medicare Part D, beginning January 1, 2013. Based on this provision, we are subject to additional taxes in the future and were required to reverse previously recorded tax benefits in the period of enactment. Consequently, the elimination of the previously recorded tax benefit resulted in a non-recurring charge to net income of $4.0 million in 2010. On October 8, 2010, we submitted a filing with the MPUC to request deferral of the retail portion of Medicare Part D of this legislation. As we are unab le to predict the outcome at this time, we have not deferred any portion of this amount as a regulatory asset.</font></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Tax Expense</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FON T-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; F ONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Tax Expense (Benefit)</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font& gt;</td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Federal <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(23.0)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(42.6)</font></div></td><td valign="bottom" align="rig ht" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.2</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div styl e="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.8)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.6)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Current Tax Expense (Benefit)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(21.7)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(44.4)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.6</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN - -RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Tax Expense</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Federal <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(b)</font></font> </div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">66.0</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MAR GIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.3</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.3</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.4</font></div></td></tr><tr bgcolor="# cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change in Valuation Allowance</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.2</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.1)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="ri ght"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.9)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investment Tax Credit Amortization</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.9)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="r ight"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.0)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.0)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Tax Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right" ><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">66.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">38.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inl ine; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Income Tax Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The 2010<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>federal current tax benefit is primarily due to the implementation of tax planning initiatives and bonus depreciation provisions in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 and the Small Business Jobs Act of 2010.&#160;The 2009 federal current tax benefit is primarily due to bonus depreciation provisions of the American Recovery and Reinvestment Act of 2009.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(b)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The 2010 federal deferred tax expense is primarily due to tax planning initiatives and bonus depreciation provisions of the Small Business Jobs Act of 2010 and the Tax Relief, Unemployment Insurance Re authorization and Job Creation Act of 2010. Also included in 2010 is a one-time charge of $4.0 million as a result of the Patient Protection and Affordable Care Act. The 2009 federal deferred tax expense is primarily due to bonus depreciation provisions of the American Recovery and Reinvestment Act of 2009.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reconciliation of Taxes from Federal Statutory</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE : 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Rate to Total Income Tax Expense</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160 ; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&am p;#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Before Non-Controlling Interest and Income Taxes</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$119.1</font></div></td><td valign="bottom" align=" right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$91.5</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$126.4</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Statutory Federal Income Tax Rate</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DI SPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Taxes Computed at 35 percent Statutory Federal Rate</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$41.7</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$32.0</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.2</font></div&g t;</td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase (Decrease) in Tax Due to:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">< font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State Income Taxes &#8211; Net of Federal Income Tax Benefit</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.5</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.8</font></div></td></tr ><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Impact of Patient Protection and Affordable Care Act</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.0</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulatory Differences for Utility Plant</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.0)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10 pt; FONT-FAMILY: times new roman">(2.5)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.6)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Production Tax Credit</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.6)</font></div></td><td valign="bottom" align="right" width="10%"> ;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.2)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.4)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0p t; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.3)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.9)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3.6)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" alig n="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Income Tax Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The effective tax rate on income was 37.2 percent for 2010 (33.7 percent for 2009; 34.3 percent for 2008).</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt ; FONT-FAMILY: times new roman">Deferred Tax Assets and Liabilities</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inlin e; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SI ZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Tax Assets</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Employee Benefits and Compe nsation <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$121.8</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$118.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Property Related</font></div></td> ;<td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">46.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOL and Tax Credit Carryforward</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28.2</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investment Tax Credits</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9 .7</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross Deferred Tax Assets</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">223.5</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0p t; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">189.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Tax Asset Valuation Allowance</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.5)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDE NT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.3)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Tax Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$223.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$188.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Tax Liabilities</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DIS PLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Property Related</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$387.2</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$294.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Regulatory Asset for Benefit Obligations</font></div>& lt;/td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105.8</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unamortized Investment Tax Credits</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-I NDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.7</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Partnership Basis Differences</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times ne w roman">19.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27.3</font></div></td><td style="BOR DER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28.2</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Deferred Tax Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$553.4</font></div></td><td style="BORDE R-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$447.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Deferred Income Taxes</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$330.4</font></div></td><td style="BORDER-BOTTO M: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$258.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inlin e; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Recorded as:</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Current Deferred Tax Liabilities <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(b)</font></font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style ="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.2</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Long-Term Deferred Tax Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">325.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">253.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Deferred Income Taxes</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-F AMILY: times new roman">$330.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$258.7</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 18pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STY LE: italic; FONT-FAMILY: Times New Roman">Includes unfunded employee benefits</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 18pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(b)&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Included in Other Current Liabilities.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100% "><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOL and Tax Credit Carryforwards</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31&l t;/font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font&g t;</div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Federal NOL carryforward <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$62.0</font></ div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$7.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Federal tax credit carryforwards</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TE XT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State NOL carryforward <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">71.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align= "right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59.6</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State tax credit carryforwards, net of federal detriment</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN- RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Pretax amounts</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN - -LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In 2010 we had federal and state NOLs and tax credit carryforwards primarily due to bonus depreciation provisions in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 and the Small Business Jobs Act of 2010. The 2010 federal NOL will be partially utilized by carrying it back against prior years&#8217; income with the remainder carried forward to offset future years&#8217; income. We expect to fully utilize the federal NOL and tax credit carryforwards; therefore a deferred tax asset has been recorded to recognize the resulting tax benefit. The state NOL and tax credits will be carried forward to future tax years. We have established a valuation allowance against certain state NOL and tax credits that we do not expect to utilize before their expiration. The 2009 federal and state NOL were primarily due to bonus depreciat ion provisions in the American Recovery and Reinvestment Act of 2009. The federal and state carryforward periods expire between 2014 and 2030.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross Unrecognized Income Tax Benefits</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 1 0pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAM ILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance at January 1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"& gt;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$8.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additions for Tax Positions Related to the Current Year</fo nt></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-IN DENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reductions for Tax Positions Related to the Current Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.2)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new r oman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additions for Tax Positions Related to Prior Years</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.0</font></div></td><td valign="bottom" align="right" width="12%" ><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reduction for Tax Positions Related to Prior Years</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" a lign="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.5)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Settlements</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.3)</font></div>< /td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Lapse of Statute</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right " width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.1)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64% "><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LE FT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$8.0</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The gross unrecognized tax benefits as of December 31, 2010, includes $0.6 million of net unrecognized tax benefits that, if recognized, would affect the annual effective income tax rate.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of December 31, 2010, we had $0.7 million ($0.9 million for 2009 and $0.6 million for 2008) of accrued interest related to unrecognized tax benefits included in the consolidated balance sheet. We classify interest related to unrecognized tax benefits as interest expense and tax-related penalties in operating expenses in the consolidated statement of income. In 2010, we recognized a $0.2 million reduction of interest expense (interest expense of $0.4 million for 2009 and $0.4 million for 2008). There were no penalties recognized for 2010, 2009 or 2008.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We file a consolidated federal income tax return in the United States and state income tax returns in various jurisdictions. ALLETE is currently under examination by the IRS for the tax years 2005 through 2009. ALLETE is no longer su bject to federal or state examination for years before 2005.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During the next 12 months it is reasonably possible the amount of unrecognized tax benefits could be reduced by $4.0 million due to statute expirations and anticipated audit settlements. This amount is primarily due to timing issues.</font></div>Note 13.Income Tax ExpenseOn March 23, 2010, the Patient Protection and Affordable Care Act, which was subsequently amended on March&#160;30, 2010, was signedfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescription containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 falsefalse12Income Tax ExpenseUnKnownUnKnownUnKnownUnKnownfalsetrue XML 31 R12.xml IDEA: Investments 2.2.0.25falsefalse006070 - Disclosure - Investmentstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 7.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investments</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-L EFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Investments.</font> At December 31, 2010, our long-term investment portfolio included the real estate assets of ALLETE Properties, debt and equity securities consisting primarily of securities held to fund employee benefits and land held-for-sale in Minnesota.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Investments</font></div>< ;/td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></t d><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign ="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ALLETE Properties</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$94.0</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$93.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left "><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available-for-sale Securities <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25.2</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="lef t"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inli ne; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Other Investments</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$126.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$130.5</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr val ign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">As of December 31, 2010, our remaining $6.7 million of Auction Rate Securities were classified as short-term as they were called prior to December 31, 2010, and redeemed at carrying value on January 5, 2011.</font></div></td></tr></table></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font s tyle="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ALLETE Properties</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMI LY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="le ft" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Land Held-for-Sale Beginning Balance</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$74.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$71.2</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" alig n="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additions during period:</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deeds to Collateralized Property <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARG IN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capitalized Improvements and Other</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deductions during period: Cost of Real Estate Sold</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;< ;/font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.9)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Land Held-for-Sale Ending Balance</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">86.0</font></div></td><td valign="bottom" align="right" width= "12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">74.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-Term Finance Receivables (net of allowances of $0.8 and $0.4) <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.7</font></div></td><td valign="bottom" align="right" wi dth="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style=" DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.3</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Real Estate Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$94.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: b lock; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$93.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 23px"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td width="1215"><div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The deeds to collateralized property resulted primarily from an entity which filed for voluntary Chapter 11 bankruptcy and were recorded a t fair value net of estimated selling costs. The change in the long-term finance receivables was primarily a result of the same transaction.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Land Held-for-sale.&#160;</font>Land held-for-sale is recorded at the lower of cost or fair value determined by the evaluation of individual land parcels.&#160;Land values are reviewed for impairment and no impairments were recorded for the year ended December&#160;31,&#160;2010 (none in 2009).</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGI N-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Long-Term Finance Receivables</font>. As of December 31, 2010, long-term finance receivables were $3.7 million net of allowance ($12.9 million net of allowance as of December 31, 2009). Long-term finance receivables are collateralized by property sold, accrue interest at market-based rates and are net of an allowance for doubtful accounts. As of December 31, 2010, the reserve balance was due to an impairment of $0.8 million on a delinquent note receivable where the fair value of the collateralized property was less than the note balance ($0.3 million of impairments in 2009). This valuation technique constitutes a Level 3 non-recurring fair value measurement.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGH T: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If a purchaser defaults on a sales contract, the legal remedy is usually limited to terminating the contract and retaining the purchaser&#8217;s deposit. The property is then available for resale. In many cases, contract purchasers incur significant costs during due diligence, planning, designing and marketing the property before the contract closes, therefore they have substantially more at risk than the deposit.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June 2010, ALLETE Properties received deeds in lieu of foreclosure to properties which had been sold in multiple transactions over various years to one purchaser. The properties were sold with seller financing, of which $7.0 million remained due and owing from the purchaser that filed for voluntary Chapter 11 bankruptcy protection in June 2009. The bankruptcy trustee approved the transfer of the properties back to ALLETE Properties in satisfaction of the amount owed. The fair value of the properties received net of selling expenses was $8.8 million. The receipt of properties resulted in a pretax gain of $0.7 million after reflecting other liabilities assumed and non-controlling interest.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Available-for-Sale Investments.</font><font style="DISPLAY: inline; FONT-STYLE: italic">&#160;</font>We account for our available-for-sale portfolio in accordanc e with the guidance for certain investments in debt and equity securities. Our available-for-sale securities portfolio consisted of securities established to fund certain employee benefits and auction rate securities.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="85%" colspan="5"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 112.5pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available-For-Sale Securities</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 112.5pt" a lign="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="27%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross Unrealized</font></div></td><td valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times n ew roman">As of&#160;December&#160;31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gain</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="14%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Loss)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"& gt;Fair Value</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.4</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.2</font></div></td><td valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(2.4)</font></div></td><td valign="bot tom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$25.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$33.1</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><f ont style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.1</font></div></td><td valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(3.7)</font></div></td><td valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div& gt;</td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$40.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(7.9)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$32.6</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="27%" colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="19%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Unrealized</font></div></td></tr><tr bgcolor="white"><td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net</font></div></td><td valign="top" width="27%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross Realized</font></div></td><td valign="top" width="19%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE : 10pt; FONT-FAMILY: times new roman">Gain (Loss) in Other</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gain</font></div></td><td style="BORDER-BOTTOM: black 2px solid" vali gn="top" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Loss)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="19%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Comprehensive Income</font></div></td></tr><tr bgcolor="white"><td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SI ZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="19%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="top" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(1.7)</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.4</font></div></td></tr><tr bgcolor="white"><td valign="top" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLA Y: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.7</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"&g t;$4.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.5</font></div></td> ;<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(0.1)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(9.7)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Auction Rate Securiti es.</font> As of December 31, 2010, our ARS were classified as a short-term investment as the remaining balance of $6.7 million was redeemed at carrying value on January 5, 2011. As of December 31, 2009, our ARS were classified as long-term investments.</font></div><br />Note 7.InvestmentsInvestments. At December 31, 2010, our long-term investment portfolio included the real estate assets of ALLETE Properties, debt and equityfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis item represents the entire disclosure related to Investments in Certain Debt and Equity Securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 falsefalse12InvestmentsUnKnownUnKnownUnKnownUnKnownfalsetrue XML 32 R3.xml IDEA: Consilidated Statement of Income 2.2.0.25falsefalse002000 - Statement - Consilidated Statement of IncometruefalseIn Millions, except Per Share datafalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2falsefalseUSDfalsefalse1/1/2009 - 12/31/2009 USD ($) USD ($) / shares $c00005http://www.sec.gov/CIK0000066756duration2009-01-01T00:00:002009-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$3falsefalseUSDfalsefalse1/1/2008 - 12/31/2008 USD ($) USD ($) / shares $c00000http://www.sec.gov/CIK0000066756duration2008-01-01T00:00:002008-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0u002Dividehttp://www.xbr l.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDUSD$4true0us-gaap_RevenuesAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalse3falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse5false0us-gaap_RegulatedAndUnregulatedOperatingRevenueus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse907000000907.0falsetruefalsefalsefalse2truefalsefalse766700000766.7falsetruefalsefalsefalse3 truefalsefalse801000000801.0falsetruefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe total amount of operating revenues recognized during the period.No authoritative reference available.falsefalse6false0us-gaap_CustomerRefundableFeesRefundPaymentsus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse00falsefalsefalsefalsefalse2truefalsefalse-7600000-7.6falsefalsefalsefalsefalse3truefalsefalse00falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAmount of refund payments made to customers during the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 13 -Section A -Paragraph a -Subsection 4 falsefalse7false0ale_TotalOperatingRevenuealefalsecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse907000000907.0falsefalsefalsefalsefalse2truefalsefalse759100000759.1falsefalsefalsefalsefalse3truefalsefalse801000000801.0falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryNo definition available.No authoritative reference available.falsefalse8true0us-gaap_CostOfRevenueAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalse3falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse9false0us-gaap_CostOfDomesticRegulatedElectricus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse325100000325.1falsefalsefalsefalsefalse2truefalsefalse279500000279.5falsefalsefalsefalsefalse3truefalsefalse305600000305.6falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryCost of electricity sold during the reporting period, operations of which is regulated by a federal or state agency.No authoritative reference available.falsefalse10false0us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperationsus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse365600000365.6falsefalsefalsefalsefalse2truefalsefalse308900000308.9falsefalsefalsefalsefalse3truefalsefalse318100000318.1falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryDiscloses the amount of operating expense for the period for routine plant maintenance, repairs and operations.No authoritative reference available.falsefalse11false0us-gaap_UtilitiesOperatingExpenseDepreciationAndAmortizationus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse8050000080.5falsefalsefalsefalsefalse2truefalsefalse6470000064.7falsefalsefalsefalsefalse3truefalsefalse5550000055.5falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryDiscloses the amount of operating expense for the period related to depreciation and amortization.No authoritative reference available.falsefalse12false0us-gaap_UtilitiesOperatingExpenseus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse771200000771.2falsefalsefalsefalsefalse2truefalsefalse653100000653.1falsefalsefalsefalsefalse3truefalsefalse679200000679.2falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryDiscloses the total amount of all operating expenses for the period.No authoritative reference available.falsefalse13false0us-gaap_OperatingIncomeLossus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse135800000135.8falsefalsefalsefalsefalse2truefalsefalse106000000106.0falsefalsefalsefalsefalse3truefalsefalse121800000121.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net result for the period of deducting operating expenses from operating revenues.No authoritative reference available.falsefalse14true0us-gaap_NonoperatingIncomeExpenseAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalse3falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse15false0 us-gaap_InterestExpenseus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse-39200000-39.2falsefalsefalsefalsefalse2truefalsefalse-33800000-33.8falsefalsefalsefalsefalse3truefalsefalse-26300000-26.3falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cost of borrowed funds accounted for as interest that was charged against earnings during the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 34 -Paragraph 21 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher OTS -Name Federal Regulation (FR) -Number Title 12 -Chapter V -Section 563c.102 -Paragraph 9 -Subsection II Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 9 -Article 9 falsefalse16false0us-gaap_IncomeLossFromEquityMethodInvestmentsus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse< /DisplayZeroAsNone>1790000017.9falsefalsefalsefalsefalse2truefalsefalse1750000017.5falsefalsefalsefalsefalse3truefalsefalse1530000015.3falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThis item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 19 -Subparagraph c Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 11 -Article 7 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 9 -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 6 -Subparagraph b falsefalse17false0us-gaap_OtherNonoperatingIncomeExpenseus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse46000004.6falsefalsefalsefalsefalse2truefalsefalse18000001.8falsefalsefalsefalsefalse3truefal sefalse1560000015.6falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net amount of other nonoperating income and expense, which does not qualify for separate disclosure on the income statement under materiality guidelines.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 9 -Article 5 falsefalse18false0us-gaap_NonoperatingIncomeExpenseus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalse false-16700000-16.7falsefalsefalsefalsefalse2truefalsefalse-14500000-14.5falsefalsefalsefalsefalse3truefalsefalse46000004.6falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe aggregate amount of income (expense) from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 5 falsefalse19false0ale_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestalefalsecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1t ruefalsefalse119100000119.1falsefalsefalsefalsefalse2truefalsefalse9150000091.5falsefalsefalsefalsefalse3truefalsefalse126400000126.4falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryNo definition available.No authoritative reference available.falsefalse20false0us-gaap_IncomeTaxExpenseBenefitus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse4430000044.3falsefalsefalsefalsefalse2truefalsefalse3080000030.8falsefalsefalsefalsefalse3truefalsefalse4340000043.4falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 45 -Subparagraph a, b falsefalse21false0us-gaap_ProfitLossus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefa lse7480000074.8falsefalsefalsefalsefalse2truefalsefalse6070000060.7falsefalsefalsefalsefalse3truefalsefalse8300000083.0falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 5 -Subparagraph b Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 29 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) falsefalse22false0us-gaap_NetIncomeLossAttributableToNoncontrollingInterestus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse-500000-0.5falsefalsefalsefalsefalse2truefalsefalse-300000-0.3falsefalsefalsefalsefalse3truefalsefalse5000000.5falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 falsefalse23false0us-gaap_NetIncomeLossus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalse false7530000075.3falsetruefalsefalsefalse2truefalsefalse6100000061.0falsetruefalsefalsefalse3truefalsefalse8250000082.5falsetruefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph d Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A7 -Appendix A Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 10, 15 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 87-21 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28, 29, 30 falsefalse24true0us-gaap_EarningsPerShareAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse< /DisplayZeroAsNone>00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalse3falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse25false0us-gaap_WeightedAverageNumberOfSharesOutstandingBasicus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse3420000034.2falsefalsefalsefalsefalse2truefalsefalse3220000032.2falsefalsefalsefalsefalse3truefalsefalse2920000029.2falsefalsefalsefalse falseSharesxbrli:sharesItemTypesharesNumber of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 171 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -Subparagraph a Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 8 falsefalse26false0us-gaap_WeightedAverageNumberOfDilutedSharesOutstandingus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse3430000034.3falsefalsefalsefalsefalse2truefalsefalse3220000032.2falsefalsefalsefalsefalse3truefalsefalse2930000029.3falsefalsefalsefalsefalseSharesxbrli:sharesItemTypesharesThe average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -Subparagraph a Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 8 falsefalse27false0us-gaap_EarningsPerShareBasicus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse2.202.20falsetruefalsefalsefalse2truefalsefalse1.891.89falsetruefalsefalsefalse3truefalsefalse2.822.82falsetruefalsefalsefalseEPSus-types:perShareItemTypedecimalThe amount of net income or loss for the period per each share of common stock outstanding during the reporting period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 21 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 36, 37, 38 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 20 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 18 -Article 7 falsetrue28false0us-gaap_EarningsPerShareDilutedus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse2.192.19falsetruefalsefalsefalse2truefalsefalse1.891.89falsetruefalsefalsefalse3truefalsefalse2.822.82falsetruefalsefalsefalseEPSus-types:perShareItemTypedecimalThe amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 11, 12, 36 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 20 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 18 -Article 7 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 21 -Article 9 falsetrue29false0us-gaap_CommonStockDividendsPerShareDeclaredus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse1.761.76falsetruefalsefalsefalse2truefalsefalse1.761.76falsetruefalsefalsefalse3truefalsefalse1.721.72falsetruefalsefalsefalseEPSus-types:perShareItemTypedecimalAggregate dividends declared during the period for each share of common stock outstanding.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 falsetrue326Consilidated Statement of Income (USD $)HundredThousandsHundredThousandsNoRoundingUnKnownfalsetrue XML 33 R14.xml IDEA: Short-term and Long-term Debt 2.2.0.25falsefalse006090 - Disclosure - Short-term and Long-term Debttruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_DebtDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 9.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Short-Term and Long-Term Debt</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font s tyle="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Short-Term Debt. </font>Total short-term debt outstanding as of December 31, 2010, was $14.4 million ($7.1 million at December&#160;31,&#160;2009) and consisted of long-term debt due within one year and notes payable. (See ALLETE consolidated balance sheet.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of December 31, 2010, we had bank lines of credit aggregating $154.0 million ($157.0 million at December 31, 2009), the majority of which expire in January 2012. We expect to enter into new bank lines of credit during 2011 to replace the expiring facility. These bank lines of credit are available to provide short-term bank loans and credit support for commercial paper. At December 31, 2010, $1.0 million ($69.2 million at December&#160;31, 2009) was drawn on our lines of credit leaving a $153.0 million balance available for use ($87.8 million at December 31, 2009). In December 2009, we drew $65.0 million on our $150.0 million syndicated revolving credit facility to temporarily fund the purchase of the 250 kV DC transmission line. In February 2010, we issued $80.0 million of First Mortgage Bonds (Bonds) (see Long-Term Debt, below). We used the proceeds from the sale of the Bonds to pay off the outstanding amount drawn on the line, resulting in the $65.0 million borrowing under our line of credit being classified as long-term debt at December 31, 2009.</font></div><div>&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On November 12, 2009, BNI Coal replaced a $6.0 million Promissory Note and Supplement (Line of Credit) with CoBANK, ACB with a $3.0 million Line of Credit and a $3.0 million term loan with CoBANK, ACB. The Line of Credit was renewed on December 22, 2010, and now expires on November 20, 2012. The Line of Credit is being used for general corporate purposes. As of December&#160;31, 2010, $1.0 million was drawn on the Line of Credit. The $3.0 million term loan has a fixed interest rate of 5.19 percent and is payable in 28 equal quarterly installments commencing January 20, 2010, and ending on October 20, 2016.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Long-Term Debt.</font> The aggregate amount of long-term debt maturing during 2011 is $13.4 mil lion ($3.3&#160;million in 2012; $73.9 million in 2013; $19.5 million in 2014; $16.3 million in 2015; and $658.6 million thereafter). Substantially all of our electric plant is subject to the lien of the mortgages collateralizing various First Mortgage Bonds. The mortgages contain non-financial covenants customary in utility mortgages, including restrictions on our ability to incur liens, dispose of assets, and merge with other entities.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In February 2010, we issued $80.0 million in principal amount of unregistered First Mortgage Bonds in the private placement market in three series as follows:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FO NT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issue Date</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Maturity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10 pt; FONT-FAMILY: times new roman">Principal Amount</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Rate</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February 17, 2010</font></div></td><td valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">April 15, 2021</font></div></td>& lt;td valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15 Million</font></div></td><td valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.85%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February 17, 2010</font></div></td><td valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style=" DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">April 15, 2025</font></div></td><td valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30 Million</font></div></td><td valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.10%</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February 17, 2010</font></div></td>< ;td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">April 15, 2040</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35 Million</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="21%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.00%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We used the proceeds from the sale of the bonds to pay off an outstanding balance of $65 million on our syndicated revolving credit facility, to fund utility capital investments and for general corporate purposes.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August 2010, we issued $75.0 million in principal amount of unregistered First Mortgage Bonds in the private placement market in two series as follows:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: tim es new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issue Date</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Maturity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roma n">Principal Amount</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="22%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Rate</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">August 17, 2010</font></div></td><td valign="bottom" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October 15, 2025</font></div></td><td valign="bottom" width="23 %"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30 Million</font></div></td><td valign="bottom" width="22%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.90%</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">August 17, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-R IGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">April 15, 2040</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="23%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$45 Million</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="22%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.82%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: in line; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We used the proceeds to fund utility capital investments and for general corporate purposes.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For the February and August 2010 bond issuances (the Bonds), we have the option to prepay all or a portion of the Bonds at our discretion, subject to a make-whole provision. The Bonds are subject to the terms and conditions of our utility mortgage. The Bonds were sold in reliance on an exemption from registration under Section 4(2) of the Securities Act of 1933, as amended, to institutional accredited investors.</font></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width= "100%"><tr bgcolor="#cceeff"><td valign="top" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-Term Debt</font></div></td><td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BO RDER-BOTTOM: black 2px solid" valign="top" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="8%"><font style="DISPLAY: inl ine; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">First Mortgage Bonds</font></div></td><td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-IN DENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.86% Series Due 2013</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$60.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$60.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.94% Series Due 2014</font></div></td><td valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18.0</font></div></td><td valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.70% Series Due 2016</font></div></td><td valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEF T: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.0</font></div></td><td valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.17% Series Due 2019</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman ">42.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.28% Series Due 2020</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-L EFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.85% Series Due 2021</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.95% Pollution Control Series F Due 2022</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">111.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">111.0</font></div></td></tr><tr bgcolor="white"><td valign="bott om" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.02% Series Due 2023</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">& lt;font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;4.90% Series Due 2025</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.10% Series Due 2 025</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.99% Series Due 2027</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN- LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.69% Series Due 2036</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;6.00% Series Due 2040</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35.0</font></div></td><td valign="bottom" align="right" width="8%">< div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;5.82% Series Due 2040</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&l t;font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SWL&amp;P First Mortgage Bonds</font></div></td><td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10p t; FONT-FAMILY: times new roman">7.25% Series Due 2013</font></div></td><td valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.0</font></div></td><td valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Senior Unsecured Notes 5.99% Due 2017</font></div></td><td valign="bottom" align="rig ht" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Variable Demand Revenue Refunding Bonds Series 1997 A, B, and C Due 2012 &#8211; 2020</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEX T-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28.3</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Industrial Development Revenue Bonds 6.5% Due 2025</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-F AMILY: times new roman">6.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Industrial Development Variable Rate Demand Refunding</font></div></td><td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr& gt;<tr bgcolor="#cceeff"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revenue Bonds Series 2006 Due 2025</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27.8</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="84%">< ;div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Line of Credit Facility <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">65.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BO RDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Long-Term Debt, 1.0% &#8211; 8.0% Due 2011 &#8211; 2037</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">36.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42.9</font></div></td></tr><tr bgcolor= "white"><td valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Long-Term Debt</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">785.0</font></div></td><td valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">701.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MAR GIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less: Due Within One Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.2</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="84%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEX T-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Long-Term Debt</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$771.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="8%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$695.8</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing ="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 29px"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;(a)</font></div></td><td width="1212"><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">A portion of the proceeds from the issuance on February 17, 2010, of $80 million principal amount of First Mortgage Bonds due in 2021, 2025 and 2040, was used to repay the outstanding borrowings on the Line of Credit Facility as of December 31, 2009.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Financial Covenants.</font> Our long-term debt arrangements contain customary covenants. In addition, our lines of credit and letters of credit supporting certain long-term debt arrangements contain financial covenants. The most restrictive covenant requires ALLETE&#160;to maintain a ratio of its Funded Debt to Total Capital (as the amounts are calculated in accordance with the respective long-term debt arrangements) of less than or equal to 0.65 to 1.00 measured quarterly. As of December 31, 2010, our ratio was approximately 0.43 to 1.00. Failure to meet this covenant would give rise to an event of default if not cured after notice from the lender, in which event ALLETE may need to pursue alternative sources of funding. Some of ALLETE&#8217;s debt arrangements contain &#8220;cross-default&#8221; provisions that would result in an event of default if there is a failure under other financing arrangements to meet payment terms or to observe other covenants that would result in an acceleration of payments due. As of December 31, 2010, ALLETE was in compliance with its financial covenants.</font></div>Note 9.Short-Term and Long-Term DebtShort-Term Debt. Total short-term debt outstanding as of December 31, 2010, was $14.4 million ($7.1 million atfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInformation about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of cre dit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 falsefalse12Short-term and Long-term DebtUnKnownUnKnownUnKnownUnKnownfalsetrue XML 34 R15.xml IDEA: Commitments, Guarantees and Contingencies 2.2.0.25falsefalse006100 - Disclosure - Commitments, Guarantees and Contingenciestruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_CommitmentsAndContingenciesDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 10.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Commitments, Guarantees and Contingencies</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT : 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Power Purchase Agreements. </font>Our long-term PPAs have been evaluated under the accounting guidance for variable interest entities. We have determined that either we have no variable interest in the PPA, or where we do have variable interests, we are not the primary beneficiary; therefore, consolidation is not required. These conclusions are based on the fact that we do not have both control over activities that are most significant to the entity and an obligation to absorb losses or receive benefits from the entity&#8217;s performance. Our financial exposure relating to these PPA is limited to our fixed capacity and energy payments.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> ;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Square Butte PPA.</font> Minnesota Power has a power purchase agreement with Square Butte that extends through 2026 (Agreement). It provides a long-term supply of energy to customers in our electric service territory and enables Minnesota Power to meet power pool reserve requirements. Square Butte, a North Dakota cooperative corporation, owns a 455-MW coal-fired generating unit (Unit) near Center, North Dakota. The Unit is adjacent to a generating unit owned by Minnkota Power, a North Dakota cooperative corporation whose Class A members are also members of Square Butte. Minnkota Power serves as the operator of the Unit and also purchases power from Square Butte.</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-I NDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Minnesota Power is obligated to pay its pro&#160;rata share of Square Butte&#8217;s costs based on Minnesota Power&#8217;s entitlement to Unit output. Our output entitlement under the Agreement is 50 percent for the remainder of the contract, subject to the provisions of the Minnkota power sales agreement described below. Minnesota Power&#8217;s payment obligation will be suspended if Square Butte fails to deliver any power, whether produced or purchased, for a period of one year. Square Butte&#8217;s costs consist primarily of debt service, operating and maintenance, depreciation and fuel expenses. We expect debt service, operating and maintenance and depreciation expenses for Square Butte to increase in 2011 due to environmental compliance obligations. As of December 31,&#160;2010, Square Butte had total debt outstanding of $379.6 million. Annual debt service for Square Butte is expected to be approximately $39 million in each of the five years, 2011 through 2015. Fuel expenses are recoverable through our fuel adjustment clause and include the cost of coal purchased from BNI Coal, our subsidiary, under a long-term contract.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Minnesota Power&#8217;s cost of power purchased from Square Butte during 2010 was $55.2 million ($53.9 million in 2009; $56.7&#160;million in 2008). This reflects Minnesota Power&#8217;s pro rata share of total Square Butte costs, based on the 50 percent output entitlement in 2010 (50 percent in 2009; 55 percent in 2008). Included in this amount was Minnesota Power&#8217;s pro rata share of interest expense of $10.2 million in 2010 ($11. 0 million in 2009; $11.6 million in 2008). Minnesota Power&#8217;s payments to Square Butte are approved as a purchased power expense for ratemaking purposes by both the MPUC and the FERC.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Minnkota Power Sales Agreement.</font> In conjunction with the purchase of the existing 250 kV DC transmission line from Square Butte on December 31, 2009, Minnesota Power entered into a contingent power sales agreement with Minnkota Power. Under the power sales agreement, Minnesota Power will sell a portion of its output from Square Butte to Minnkota, resulting in Minnkota&#8217;s net entitlement increasing and Minnesota Power&#8217;s net entitlement decreasing until Minnesota Power&#8217;s share is eliminated at the end of 2025.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No power will be sold under this agreement until Minnkota Power has placed in service a new AC transmission line, which is anticipated to occur in 2013. This new AC transmission line will allow Minnkota to transmit its entitlement from Square Butte directly to its customers, which, in turn, will provide Minnesota Power with additional capacity on the DC line to transmit new wind generation.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Time s New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Wind PPA. </font>In 2006 and 2007, we entered into two long-term wind PPA with an affiliate of NextEra Energy, Inc. to purchase the output from two wind facilities, Oliver Wind I (50 MW) and Oliver Wind II (48 MW), located near Center, North Dakota. Each agreement is for 25 years and provides for the purchase of all output from the facilities at fixed prices. There are no fixed capacity charges, and we only pay for energy as it is delivered to us.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Hydro PPA.</font> We have a PPA with Manitoba Hydro that began in May 2009 and expires in April 2015. Under the agreement with Manitoba Hydro, Minnesota Power is currently purchasing 50 MW of capacity and the energy associated with that capacity. Both the capacity price and the energy price are adjusted annually by the change in a governmental inflationary index.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April 30, 2010, Minnesota Power signed a definitive agreement with Manitoba Hydro, subject to MPUC approval, to purchase surplus energy beginning in May 2011 through April 2022. This energy-only transaction primarily consists of surplus hydro energy on Manitoba Hydro&#8217;s system that is delivered to Minnesota Power on a non-firm basis.&#160;The pricing is based on forward market prices. Under this agreement with Manitoba Hydro, Minnesota Power will be purchasing at least one million MWh of ene rgy over the contract term. On September 1, 2010, we filed a petition with the MPUC to approve our PPA with Manitoba Hydro. On October 28, 2010, the OES filed comments recommending approval.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">North Dakota Wind Development</font><font style="DISPLAY: inline; FONT-STYLE: italic">.</font> On December 31, 2009, we purchased an existing 250 kV DC transmission line from Square Butte for $69.7 million. The 465-mile transmission line runs from Center, North Dakota, to Duluth, Minnesota. We use this line to transport increasing amounts of wind energy from North Dakota while gradually phasing out coal-based electricity currently being delivered to our system over t his transmission line from Square Butte&#8217;s lignite coal-fired generating unit.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Bison 1 is a two phase, 82 MW wind project in North Dakota. All permitting has been received and the first phase was completed in 2010. Phase one included construction of a 22-mile, 230 kV transmission line and the installation of 16 2.3 MW wind turbines, all of which were in-service at the end of 2010. Phase two is expected to be completed late in 2011 and consists of the installation of 15 3.0 MW wind turbines. Bison 1 is expected to have a total capital cost of approximately $177 million, of which $121 million was spent through December 31, 2010. In 2009, the MPUC approved Minnesota Power&#8217;s petition seeking current cost recove ry eligibility for investments and expenditures related to Bison 1, and in July 2010, the MPUC approved our petition establishing rates effective August 1, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Leasing Agreements.</font> BNI Coal is obligated to make lease payments for a dragline totaling $2.8&#160;million annually for the lease term which expires in 2027. BNI Coal has the option at the end of the lease term to renew the lease at fair market value, to purchase the dragline at fair market value, or to surrender the dragline and pay a $3.0 million termination fee. We lease other properties and equipment under operating lease agreements with terms expiring through 2016. The aggregate amount of mi nimum lease payments for all operating leases is $8.1 million in 2011, $8.4 million in 2012, $8.5&#160;million in 2013, $8.7 million in 2014, $8.4 million in 2015 and $44.7 million thereafter. Total rent and lease expense was $9.4 million in 2010 ($9.3&#160;million in 2009; $8.5 million in 2008).</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Coal, Rail and Shipping Contracts</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">.</font> We have coal supply agreements and transportation agreements providing for the purchase and delivery of a significant portion of our coal requirements. These coal and transportation agreements, including option terms, expire in various years between 2011 and 2 015. Our minimum annual payment obligation for 2011 is $41.0 million, 2012 is $1.6 million, and 2013 is $1.4 million. Our minimum annual payment obligations will increase when annual nominations are made for coal deliveries in future years. The delivered costs of fuel for Minnesota Power&#8217;s generation are recoverable from Minnesota Power&#8217;s utility customers through the fuel adjustment clause.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">CapX2020 Transmission Projects. </font>Minnesota Power is a participant in the CapX2020 initiative which represents an effort to ensure electric transmission and distribution reliability in Minnesota and the surrounding region for the future. CapX2020, which consists of electric cooperatives, municipals and investor-owned utilities, including Minnesota&#8217;s largest transmission owners, has assessed the transmission system and projected growth in customer demand for electricity through 2020. Studies show that the region's transmission system will require major upgrades and expansion to accommodate increased electricity demand as well as support renewable energy expansion through 2020. As future CapX2020 projects are identified, Minnesota Power may elect to participate on a project&#8211;by-project basis.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Minnesota Power is currently participating in three CapX2020 projects: the Fargo to St. Cloud project, the Monticello to St. Cloud project, which together total a 238-m ile, 345 kV line from Fargo to Monticello, and the 70-mile, 230 kV line between Bemidji and Minnesota Power&#8217;s Boswell Energy Center near Grand Rapids, Minnesota. Based on projected costs of the three transmission lines and the percentage agreements among participating utilities, Minnesota Power plans to invest between $100 million and $125 million in the CapX2020 initiative through 2015, of which $11.3 million was spent through December&#160;31,&#160;2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In July 2010, the MPUC granted a route permit for the 28-mile 345 kV transmission line between Monticello and St. Cloud. Construction of the project is expected to be complete in late 2011. The 210-mile 345 kV transmission line from St. Cloud to Fargo is e xpected to be complete by 2015. Construction for the Bemidji to Grand Rapids 230 kV line project commenced in January 2011.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have an approved cost recovery rider in place for certain transmission expenditures, and our current billing factor was approved by the MPUC in June 2009. The billing factor allows us to charge our retail customers on a current basis for the costs of constructing certain transmission facilities plus a return on the capital invested. In our 2010 rate case we moved completed transmission projects from the current cost recovery rider to base rates. In July 2010, we filed for an updated billing factor that includes additional transmission projects and expenses, including the CapX2020 projects, which we ex pect to be approved in early 2011.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Environmental Matters.</font></font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our businesses are subject to regulation of environmental matters by various federal, state and local authorities. Currently, a number of regulatory changes to the Clean Air Act, the Clean Water Act, and various waste management requirements are under consideration by both Congress and the EPA. Minnesota Power&#8217;s fossil fuel facilities will likely be subject to regulation under these proposals. Our intention is to reduce our exposure to these requirements by reshaping our generation portfolio, over time, to reduce our reliance on coal.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We consider our businesses to be in substantial compliance with currently applicable environmental regulations and believe all necessary permits to conduct such operations have been obtained. Due to future restrictive environmental requirements through legislation and/or rulemaking, we anticipate that potential expenditures for environmental matters will be material and will require significant capital investments.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We review environmental matters on a quarterly basis. Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information become available. Accruals for environmental liabilities are included in the consolidated balance sheet at undiscounted amounts and exclude claims for recoveries from insurance or other third parties. Costs related to environmental contamination treatment and cleanup are charged to expense unless recoverable in rates from customers.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /&g t;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Air</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">. </font>The electric utility industry is heavily regulated both at the Federal and State level to address air emissions.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Minnesota Power&#8217;s generating facilities mainly burn low-sulfur western sub-bituminous coal. Square Butte, located in North Dakota, burns lignite coal. All of Minnesota Power&#8217;s generating facilities are equipped with pollution control equipment such as scrubbers, bag houses, and low NO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">x</font> technologies. At this time, these facilities are substantially compliant with applicable emission requirements.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">New Source Review. </font>In August 2008, Minnesota Power received a Notice of Violation (NOV) from the United States EPA asserting violations of the New Source Review (NSR) requirements of the Clean Air Act at Boswell Units 1-4 and Laskin Unit 2. The NOV asserts that seven projects undertaken at these coal-fired plants between the years 1981 and 2000 should have been reviewed under the NSR requirements, and that the Boswell Unit 4 Title V permit was violated. Minnesota Power believes the projects were in full compliance with the Clean Air Act, NSR requirements and applicable permits.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are engaged in discussions with the EPA regarding resolution of these matters, but we are unable to predict the outcome of these discussions. Since 2006, Minnesota Power has significantly reduced emissions at Laskin and Boswell, and continues to reduce emissions at Boswell. The resolution could result in civil penalties and the installation of control technology, some of which is already planned or completed for other regulatory requirements. Any costs of installing pollution control technology would likely be eligible for recovery in rates over time subject to MPUC and FERC approval in a rate proceeding. We are unable to predict the ultimate financial impact or the resolution of these matters at this time.</font></div><div style="DISPLAY: block; TEXT-IND ENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">EPA Transport Rule.</font> On July 6, 2010, the EPA proposed a rule known as the Transport Rule (TR) requiring 31 states, including Minnesota and the District of Columbia, to reduce power plant SO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2</font> and NO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">x</font> emissions that can significantly contribute to ozone and fine particle pollution problems in other states. If adopted, the TR will replace the Clean Air Interstate Rule (CAIR) that was issued by the EPA in March 2005. Minnesota was included as one of the original 28 CAIR states but, following Minnesota Power&#8217;s successful challenge to CAIR, the EP A granted an administrative stay of the CAIR requirements in Minnesota while it prepared the TR. The proposed TR responds to the United States Court of Appeals for the District of Columbia Circuit&#8217;s remand of CAIR by replacing and reforming provisions to address updated air quality standards, improved emissions data and reformed emissions transport modeling.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The EPA took public comments on the proposed rule through October 1, 2010, and plans to finalize the rule in June 2011. Emissions reductions are proposed to take effect in 2012, within one year of projected finalization of the rule.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The EPA has not yet determined whether trading of emission allowances between regulated generating units or states may be implemented. Since 2006, we have made substantial investments in pollution control equipment at our Laskin, Taconite Harbor and Boswell generating units which have significantly reduced emissions. These reductions may satisfy Minnesota Power&#8217;s obligations with respect to these requirements. We are unable to predict any additional compliance costs we might incur at this time.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Minnesota Re gional Haze</font>. The federal regional haze rule requires states to submit state implementation plans (SIPs) to the EPA to address regional haze visibility impairment in 156 federally-protected parks and wilderness areas. Under the regional haze rule, certain large stationary sources, put in place between 1962 and 1977, with emissions contributing to visibility impairment are required to install emission controls, known as Best Available Retrofit Technology (BART). We have two steam units, Boswell Unit 3 and Taconite Harbor Unit 3, which are subject to BART requirements.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the regional haze rule, Minnesota was required to develop its SIP by December 2007. As a mechanism for demonstrating progress towards mee ting the long-term regional haze goal, in April 2007 the MPCA advanced a draft conceptual SIP which relied on the implementation of CAIR. However, a formal SIP was not filed at that time due to the United States Court of Appeals for the District of Columbia Circuit&#8217;s remand of CAIR. Subsequently, the MPCA requested that companies with BART eligible units complete and submit a BART emissions control retrofit study, which was completed for Taconite Harbor Unit 3 in November 2008. The retrofit work completed in 2009 at Boswell Unit 3 meets the BART requirements for that unit. In December 2009, the MPCA approved the SIP for submittal to the EPA for its review and approval. Approval by the EPA is pending on whether to approve the Minnesota SIP. If approved, Minnesota Power will have five years to bring Taconite Harbor Unit 3 into compliance. It is uncertain what controls will ultimately be required at Taconite Harbor Unit 3 in connection with the regional haze rule.</font></div><div style ="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">EPA National Emission Standards for Hazardous Air Pollutants (NESHAPs) for Electric Utility Units. </font>Under Section 112 of the Clean Air Act, the EPA is required to set emission standards for hazardous air pollutants for certain source categories. In December 2009, Minnesota Power and other utilities received an Information Collection Request from the EPA requiring that emissions data be provided and stack testing be performed in order to develop a database upon which to base future regulations. On March&#160;30,&#160;2010, Minnesota Power responded to the Information Collection Request. Stack testing was completed during the third quarter of 2010 and the results were submitted to the EPA. The EPA is subject to a consent decree which requires the EPA to propose a utility NESHAPs rule by March 2011, with the final rule by November 2011. As part of the NESHAPs rulemaking, EPA will develop Maximum Achievable Control Technology standards for utilities. Costs for complying with potential future mercury and other hazardous air pollutant regulations under the Clean Air Act cannot be estimated at this time.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Minnesota Mercury Emission Reduction Act.</font> Under Minnesota law, a mercury emissions reduction plan for Boswell Unit 4 is required to be submitted by July 1, 2015, with implementation no later than December 31, 2018. The statute also calls for an ev aluation of a mercury control alternative which provides for environmental and public health benefits without imposing excessive costs on the utility&#8217;s customers. Costs for the Boswell Unit 4 emission reduction plan cannot be estimated at this time.</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Proposed and Finalized National Ambient Air Quality Standards. </font>The EPA is required to review the National Ambient Air Quality Standards (NAAQS) every five years. Each state is required to adopt plans describing how they will reduce emissions to attain these NAAQS if the state&#8217;s air quality is not in compliance with a NAAQS. These state plans often include more stringent air emission limitations on sources of air pollutants in the state. Four NAAQS have either recently been revised, or are currently proposed for revision, as described below.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Ozone NAAQS.</font> The EPA is proposing to more stringently control emissions that result in ground level ozone. In January 2010, the EPA proposed to reduce the eight-hour ozone standard and to adopt a secondary standard for the protection of sensitive vegetation from ozone-related damage. The EPA expects to issue final standards by July 2011. As proposed, states have until early 2014 to submit plans outlining how they will meet the standards.< /font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Particulate Matter NAAQS.</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub; FONT-STYLE: italic">&#160;</font>The EPA finalized the NAAQS Particulate Matter standards in September&#160;2006. The EPA established a more stringent 24-hour average fine particulate (PM<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2.5</font>) standard and kept the annual average fine particulate matter standard and the 24-hour coarse particulate matter standard unchanged. The District of Columbia Circuit Court of Appeals has remanded the PM<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2.5&l t;/font> standard to the EPA, requiring consideration of lower annual average standard values. The EPA has indicated that ambient air quality monitoring for 2008 through 2010 will be used as a basis for states to characterize their attainment status. The EPA plans to finalize the new PM<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2.5</font> standards in 2011, and state attainment status determination will likely not occur prior to 2013. As early as late 2014, affected sources would have to take additional control measures if modeling demonstrates non-compliance at the property boundary.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">SO</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub; FONT-STYLE: italic">2</font><font style="DISPLAY: inline; FONT-STYLE: italic"> and NO</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub; FONT-STYLE: italic">2</font><font style="DISPLAY: inline; FONT-STYLE: italic"> NAAQS.</font> The EPA recently finalized a new one-hour NAAQS for SO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2</font> and NO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2</font>. Monitor data indicates that Minnesota will likely be in compliance with these new standards; however, the SO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2</font> NAAQS also requires the EPA to evaluate modeling data to determine attainment. It is unclear what the outcome of this evaluation will be. These NAAQS could also result in more stringent emission limits on our steam generating facilities, possibly resulting in additional control measures on some of our units.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are unable to predict the nature or timing of any additional NAAQS regulation or compliance costs we might incur at this time.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Climate Change.</font> Minnesota Power is addressing climate change by taking the following steps that also ensure reliable and environmentally compliant generation resources to meet our customer&#8217;s requirements:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 36pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Expand our renewable energy supply.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 36pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Improve the efficiency of our coal-based generation facilities, as well as other process efficiencies.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 36pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Provide energy conservation initi atives for our customers and engage in other demand side efforts.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td style="WIDTH: 36pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Support research of technologies to reduce carbon emissions from generation facilities and support carbon sequestration efforts.</font></div></td></tr></table></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%"><tr valign="top"><td s tyle="WIDTH: 36pt" align="right"><div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif">&#183;&#160;&#160;</font></div></td><td><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Achieve overall carbon emission reductions.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The scientific community generally accepts that emissions of GHGs are linked to global climate change. Climate change creates physical and financial risk. These physical risks could include, but are not limited to, increased or decreased precipitation and water level s in lakes and rivers; increased temperatures; and the intensity and frequency of extreme weather events. These all have the potential to affect the Company&#8217;s business and operations.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Midwestern Greenhouse Gas Reduction Accord. </font>Minnesota is also participating in the Midwestern Greenhouse Gas Reduction Accord (the Accord), a regional effort to develop a multi-state approach to GHG emission reductions. The Accord includes an agreement to develop a multi-sector cap-and-trade system to help meet the targets established by the group.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLA Y: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">EPA Regulation of GHG Emissions.</font>&#160;On May 13, 2010, the EPA issued the final Prevention of Significant Deterioration (PSD) and Title V Greenhouse Gas Tailoring Rule (Tailoring Rule). The PSD/Tailoring Rule establishes permitting thresholds required to address GHG emissions for new facilities, at existing facilities that undergo major modifications, and at other facilities characterized as major sources under the Clean Air Act&#8217;s Title V program.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For our existing facilities, the rule does not require amending our existing Title V Operating Permits to include GHGs requirements. Implementation of the requirement to add GHG provisions to permits will be completed at the state level in Minnesota by the MPCA when the Title V permits are renewed. However, installation of new units or modification of existing units resulting in a significant increase in GHG emissions will require obtaining PSD permits and amending our operating permits to demonstrate that Best Available Control Technology (BACT) is being used at the facility to control GHG emissions. The EPA has defined significant emissions increase for existing sources as a GHG increase of 75,000 tons per year or more of total GHG on a CO<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: sub">2</font> equivalent basis.</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In late 2010, the EPA issued guidance to permitting authorities and affected sources to facilitate incorporation of the Tailoring Rule permitting requirements into the Title V and PSD permitting programs. The guidance stated that the project-specific top-down BACT determination process used for other pollutants will also be used to determine BACT for GHG emissions. Through sector-specific white papers, EPA also provided examples and technical summaries of GHG emission control technologies and techniques EPA considers available or likely to be available to sources. It is possible these control technologies could be determined to be BACT on a project by project basis. In the near term, one option appears to be energy efficiency maximization.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MA RGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Legal challenges to the EPA&#8217;s regulation of GHG emissions, including the Tailoring Rule, have been filed and are awaiting judicial determination. Comments to the Permitting Guidance were also submitted and may be addressed by EPA in the form of revised guidance documents.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We cannot predict the nature or timing of any additional GHG legislation or regulation. Although we are unable to predict the compliance costs we might incur, the costs could have a material impact on our financial results.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"& gt;<br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Coal Ash Management Facilities.</font> Minnesota Power generates coal ash at all five of its steam electric stations. Two facilities store ash in onsite impoundments (ash ponds) with engineered liners and containment dikes. Another facility stores dry ash in a landfill with an engineered liner and leachate collection system. Two facilities generate a combined wood and coal ash that is either land applied as an approved beneficial use, or trucked to state permitted landfills. On June 18, 2010, the EPA proposed regulations for coal combustion residuals generated by the electric utility sector. The proposal sought comments on three general regulatory schemes for coal ash. Public comments were submitted to the EPA by Nove mber 19, 2010. We are unable to predict the compliance costs we might incur; however, there is the possibility they could have a material impact.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Manufactured Gas Plant Site.</font>&#160;We are reviewing and addressing environmental conditions at a former manufactured gas plant site within the City of Superior, Wisconsin, and formerly operated by SWL&amp;P.&#160;We have been working with the WDNR to determine the extent of contamination and the remediation of contaminated locations. At December 31, 2010, we have a $0.5&#160;million liability for this site, and a corresponding regulatory asset as we expect recovery of remediation c osts to be allowed by the PSCW.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other Matters</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">BNI Coal.</font> As of December 31, 2010, BNI Coal had surety bonds outstanding of $18.4 million related to the reclamation liability for closing costs associated with its mine and mine facilities. Although the coal supply agreements obligate the customers to provide for the closing costs, additional assurance is required by federal and state regulations. In addition to the surety bonds, BNI Coal has secured a letter of credit with CoBANK ACB for an additional $10.0 million, of which $6.7 million is needed to meet the requirements for BNI Coal&#8217;s total reclamation liability currently estimated at $25.1 million. BNI Coal does not believe it is likely that any of these outstanding bonds will be drawn upon.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ALLETE Properties. </font>As of December 31, 2010, ALLETE Properties, through its subsidiaries, had surety bonds outstanding of $11.6&#160;million primarily related to performance and maintenance obligations to governmental entities to construct improvements in their va rious projects. The remaining work to be completed on these improvements is estimated to be approximately $9.0 million, and ALLETE Properties does not believe it is likely that any of these outstanding bonds will be drawn upon.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Community Development District Obligations.</font> In March 2005, the Town Center District issued $26.4 million of tax-exempt, 6 percent capital improvement revenue bonds; and in May 2006, the Palm Coast Park District issued $31.8 million of tax-exempt, 5.7 percent special assessment bonds. The capital improvement revenue bonds and the special assessment bonds are payable through property tax assessments on the land owners over 31 years (by M ay 1, 2036, and 2037, respectively). The bond proceeds were used to pay for the construction of a portion of the major infrastructure improvements in each district, and to mitigate traffic and environmental impacts. The bonds are payable from and secured by the revenue derived from assessments imposed, levied and collected by each district. The assessments were billed to the landowners in November 2006, for Town Center and November 2007, for Palm Coast Park. To the extent that we still own land at the time of the assessment, we will incur the cost of our portion of these assessments, based upon our ownership of benefited property. At December 31, 2010, we owned 69 percent of the assessable land in the Town Center District (69 percent at December 31, 2009) and 93 percent of the assessable land in the Palm Coast Park District (86 percent at December 31, 2009). At these ownership levels our annual assessments are $1.4 million for Town Center and $2.1 million for Palm Coast Park. As we sell property, the obligat ion to pay special assessments will pass to the new landowners. Under current accounting rules, these bonds are not reflected as debt on our consolidated balance sheet.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Legal Proceedings.</font> In January 2011, the Company was named as a defendant in a lawsuit in the Sixth Judicial District for the State of Minnesota by one of our customer&#8217;s, United Taconite, LLC, property and business interruption insurers. In October 2006, United Taconite experienced a fire as a result of the failure of certain electrical protective equipment.&#160;The equipment at issue in the incident was not owned, designed, or installed by Minnesota Power, but Minnesota Power had provided testing and calibration services related to the equipment.&#160;The lawsuit alleges approximately $20 million in damages related to the fire. The Company believes that it has strong defenses to the lawsuit and intends to vigorously assert such defenses. An expense related to any damages that may result from the lawsuit has not been recorded as of December&#160;31, 2010, because a potential loss is not currently probable or reasonably estimable; however, the Company believes it has adequate insurance coverage for potential loss.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Other.</font> We are involved in litigation arising in the normal course of business. Also in the normal course of business , we are involved in tax, regulatory and other governmental audits, inspections, investigations and other proceedings that involve state and federal taxes, safety, compliance with regulations, rate base and cost of service issues, among other things. While the resolution of such matters could have a material effect on earnings and cash flows in the year of resolution, none of these matters are expected to materially change our present liquidity position, or have a material adverse effect on our financial condition.</font></div>Note 10.Commitments, Guarantees and ContingenciesPower Purchase Agreements. Our long-term PPAs have been evaluated under the accounting guidance for variablefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringIncludes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 14 -Paragraph 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 9, 10, 11, 12 falsefalse12Commitments, Guarantees and ContingenciesUnKnownUnKnownUnKnownUnKnownfalsetrue XML 35 R24.xml IDEA: Valuation and Qualifying Accounts and Reserves 2.2.0.25falsefalse006190 - Disclosure - Valuation and Qualifying Accounts and Reservestruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse 1falsefalsefalse00<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><div style="DISPLAY: block; TEXT-INDENT: 0pt"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedule II</font></font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font st yle="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ALLETE</font></font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Valuation and Qualifying Accounts and Reserves</font></font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div><div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="34%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance at</font></div></td><td valign="bottom" width="18%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additions</font></div></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="cente r"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deductions</font></div></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance at</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="34%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Beginning</font></div></td><td valign="bottom" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT : 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Charged</font></div></td><td valign="bottom" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">from</font></div></td><td valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">End of</font>< ;/div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="34%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">of Period</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">to Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div style="DISPLAY: block; MARGIN- LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Charges</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reserves <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Period</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="lef t" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; &l t;/font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reserve Deducted from Related Assets</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="1 0%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reserve For Uncollectible Accounts</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008&#160;&#160;Trade Accounts Receivable</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.0</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"& gt;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.0</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.3</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td></tr><tr bgcolor="white"><td val ign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; Finance Receivables &#8211; Long-Term</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.2</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt " align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009&#160;&#160;Trade Accou nts Receivable</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.3</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARG IN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; Finance Receivables &#8211; Long-Term</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: t imes new roman">$0.1</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.3</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-I NDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="34%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10 %"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010&#160;&#160;Trade Accounts Receivable</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.9</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.1</font> </div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDEN T: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; Finance Receivables &#8211; Long-Term</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.4</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.8</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&# 8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$ 0.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Asset Valuation Allowance</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FON T-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008&#160;&#160;Deferred Tax Asset s</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.3</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$ (2.9)</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 1 7.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009&#160;&#160;Deferred Tax Assets</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new rom an">$0.4</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$ (0.1)</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt ; MARGIN-RIGHT: 12.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="34%"><div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010&#160;&#160;Deferred Tax Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT- INDENT: 0pt; MARGIN-RIGHT: 8.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.4pt" align="right"& gt;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.5</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font><font style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Includes uncollectible accounts written off.</font></font></div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></ div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br /></font></div>Schedule IIALLETEValuation and Qualifying Accounts and Reserves&#160; Balance atAdditionsDeductionsBalance at&#160; BeginningChargedOtherfromEnd of&#160; offalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringAn element designated to encapsulate the entire schedule of any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 09 -Article 12 falsefalse12Valuation and Qualifying Accounts and ReservesUnKnownUnKnownUnKnownUnKnownfalsetrue XML 36 R20.xml IDEA: Pension and Other Postretirement Benefit Plans 2.2.0.25falsefalse006150 - Disclosure - Pension and Other Postretirement Benefit Planstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 15.</font></div></td><td><font style="DISPLAY: inline; FONT-WEIGHT: bold">Pension and Other Postretirement Benefit Plans</font></td></tr></table><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style= "DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have noncontributory union and non-union defined benefit pension plans covering eligible employees. The plans provide defined benefits based on years of service and final average pay. In 2010, we made total contributions of $26.5 million ($32.9 million in 2009 of which $12.0 million was contributed in shares of ALLETE common stock). We also have defined contribution pension plans covering substantially all employees. The 2010 plan year employer contributions, which are made through our employee stock ownership plan, totaled $7.2 million ($7.1 million for the 2009 plan year.) (See Note 11. Common Stock and Earnings Per Share and Note 16. Employee Stock and Incentive Plans)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Tim es New Roman">In 2006, amendments were made to the non-union defined benefit pension plan and the RSOP. The non-union defined benefit pension plan was amended to suspend further crediting of service to the plan and closed the plan to new participants. In conjunction with the change, contributions were increased to the RSOP. In 2010, the Minnesota Power unions defined benefit pension plan was amended to close the plan to new participants.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have postretirement health care and life insurance plans covering eligible employees. In 2010, our postretirement health plan was amended to close the plan to employees hired after January 31, 2011. The full eligibility requirement was also amended in 2010, to age 55 with 10 years of serv ice. The postretirement health plans are contributory with participant contributions adjusted annually. Postretirement health and life benefits are funded through a combination of Voluntary Employee Benefit Association trusts (VEBAs), established under section 501(c)(9) of the Internal Revenue Code, and irrevocable grantor trusts. In 2010 $12.8 million was contributed to the VEBAs. In 2009 we contributed $9.3 million to the VEBAs and $0.3 million to the grantor trust.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Management considers various factors when making funding decisions such as regulatory requirements, actuarially determined minimum contribution requirements, and contributions required to avoid benefit restrictions for the pension plans. Estimated defined benefi t pension and postretirement health and life contributions for 2011 are expected to be $7.8 million and $12.9 million, respectively. Contributions are based on estimates and assumptions that are subject to change.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounting for Defined Benefit Pension and Postretirement Benefit Plans requires that employers recognize on a prospective basis the funded status of their defined benefit pension and other postretirement plans on their consolidated balance sheet and recognize as a component of other comprehensive income, net of tax, the gains or losses and prior service costs or credits that arise during the period but that are not recognized as components of net periodic benefit cost.</font></div><div style="DISPLAY : block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The defined benefit pension and postretirement health and life benefit costs recognized annually by our regulated companies are expected to be recovered through rates filed with our regulatory jurisdictions. As a result, these amounts that are required to otherwise be recognized in accumulated other comprehensive income have been recognized as a long-term regulatory asset on our consolidated balance sheet, in accordance with the accounting standards for Regulated Operations. The defined benefit pension and postretirement health and life benefit costs associated with our other non-rate base operations are recognized in accumulated other comprehensive income.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div>< table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension Obligation and Funded Status</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FO NT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white">&l t;td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Benefit Obligation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$485.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$435.9</font></div></td></tr><tr bgcolor="#cceeff"> ;<td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change in Benefit Obligation</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLA Y: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation, Beginning of Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$465.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$440.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt ; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actuarial Loss&l t;/font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Benefits Paid</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(27.2)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(25.5)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Participant Contributions</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="ri ght"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$525.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$465.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change in Plan Assets</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value, Beginning of Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$327.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$273.7</font></div></td></tr><tr bgcolor="white">&l t;td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; M ARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Employer Contribution</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">36.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">37.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT- FAMILY: times new roman">Benefits Paid</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(27.2)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(25.5)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$382.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$327.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new r oman">Funded Status, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(143.6)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(137.7)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times n ew roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Pension Amounts Recognized in Consolidated Balance Sheet Consist of:</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Liabilities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(0.9)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(0.9)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" w idth="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Noncurrent Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.45pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(142.8)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.8pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(136.8)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>< div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The pension costs that are reported as a component within our consolidated balance sheet, reflected in regulatory long-term assets and accumulated other comprehensive income, consist of the following:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unrecognized Pension Costs</font></div></td></tr><tr bgcolor="white"><td style="BORDER - -BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$225.1</font& gt;</div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$196.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prior Service Cost</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.4</font></div></td><td style="BORDER-BOTTOM : black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Unrecognized Pension Costs</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$226.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$198.3</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Components of Net Periodic Pension Expense</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63% "><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: ti mes new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MA RGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Service Cost</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.8</font></div></td></tr><t r bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Cost</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="righ t"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(33.7)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(33.8)</font></div> ;</td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(32.5)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Loss</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt ; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Prior Service Costs</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.6</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="63%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline ; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Pension Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman" >$0.9</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Changes in Pension Plan Assets and Benefit Obligations Recognized in</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Comprehensive Income and Regulatory Assets</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTT OM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font styl e="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.2</font>& lt;/div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Prior Service Costs</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.5)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LE FT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.6)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Gain</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6.6)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT - -INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3.4)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Recognized in Other Comprehensive Income and Regulatory Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$28.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style=" DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.8</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt ; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Projected Benefit Obligation</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DIS PLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$525.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$465.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Benefit Obligation</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$485.6</font></div></td><td va lign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$435.9</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value of Plan Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$382.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign= "bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$327.6</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement Health and Life Obligation and Funded Status</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%">&l t;div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMIL Y: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change in Benefit Obligation</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></ td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation, Beginning of Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$192.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$166.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLA Y: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT- FAMILY: times new roman">Interest Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actuarial Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Participant Contributions</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.7</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Plan Amendments</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(14.2)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.3)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Benefits Paid</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(9.2)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7.7)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligation, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$204.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div s tyle="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$192.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change in Plan Assets</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value, Beginning of Year</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$96.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$78.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"&g t;Actual Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Employer Contribution</font></div></td><td valign="bottom" align="right" width="12%"><div sty le="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Participant Contributions</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inli ne; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Benefits Paid</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(9.1)&l t;/font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7.6)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$114.7</fo nt></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$96.4</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Funded Status, End of Year</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(89.4)</font&g t;</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(95.7)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEF T: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Postretirement Health and Life Amounts Recognized in Consolidated Balance Sheet Consist of:</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Liabilities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(0.8)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(0.8)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Noncurrent Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(88.6)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(94.8)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">According to the accounting standards for Retirement Benefits only assets in the VEBAs are treated as plan assets in the above table for the purpose of determining fun ded status. In addition to the postretirement health and life assets reported in the previous table, we had $19.8 million in irrevocable grantor trusts included in Other Investments on our consolidated balance sheet at December 31, 2010 ($18.2 million at December 31, 2009).</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The postretirement health and life costs that are reported as a component within our consolidated balance sheet, reflected in regulatory long-term assets and accumulated other comprehensive income, consist of the following:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolo r="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unrecognized Postretirement Health and Life Costs</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font&g t;</td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$80.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$69.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-L EFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prior Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11.2)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.3)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inli ne; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Transition Obligation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Unrecognized Postretirement Health and Life Costs</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$69.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$75.2</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor=" #cceeff"><td valign="bottom" width="100%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Components of Net Periodic Postretirement Health and Life Expense</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMI LY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions< /font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest Cost</font></div></td><td valign="bottom" align="right" width="12%"><d iv style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10p t; FONT-FAMILY: times new roman">Expected Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(9.5)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8.3)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7.2)</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Prior Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.1)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.5</font></div></td><td valign="bottom" align= "right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.4</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Transition Obligation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" alig n="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Postretirement Health and Life Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom " align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$10.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$10.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div&g t;<table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Changes in Postretirement Benefit Plan Assets and Benefit Obligations</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Recognized in Other Comprehensive Income and Regulatory Assets</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt " align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">& lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.3< ;/font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prior Service Cost (Credit) Arising During the Period</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(14.2)</font></div></td><td valign="bottom" align="right" width="12%"><div s tyle="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.3)</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Prior Service Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPL AY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Transition Obligation</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.5)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.5)</font></div></td>&l t;/tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization of Loss</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4.8)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.5)</font></div></td></tr>< tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Recognized in Other Comprehensive Income and Regulatory Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(6.1)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.6</font>& lt;/div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Estimated Future Benefit Payments</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div style=" DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEI GHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Health and Life</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times ne w roman">2011</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$8.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2012</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$28.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2013</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> ;$29.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$10.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2014</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEX T-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$11.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2015</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.7&l t;/font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Years 2016 &#8211; 2020</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$174.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$73.3</fo nt></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The pension and postretirement health and life costs recorded in other long-term assets and accumulated other comprehensive income expected to be recognized as a component of net pension and postretirement benefit costs for the year ending December 31, 2011, are as follows:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td vali gn="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td><td style="BORDER-BO TTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Health and Life</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" al ign="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Loss</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$8.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style ="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prior Service Costs</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(1.7)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Transition Obligations </font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Pension and Postreti rement Health and Life Costs</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.9</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan ="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-Average Assumptions Used to Determine Benefit Obligation</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -2.25pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div>< /td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -3.6pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Discount Rate</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="b ottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.36%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.81%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">< ;font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement Health and Life</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.40%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.81%</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Rate of Compensation Increase</font ></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3 &#8211; 4.6%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3 &#8211; 4.6%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Health Care Trend Rates</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inl ine; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Trend Rate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DIS PLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.5%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ultimate Trend Rate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5%</font></div></td></tr><tr bgcolor="w hite"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ultimate Trend Rate Effective</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.75pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2018</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.4pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2017</font></div></td></tr></table>& lt;/div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-Average Assumptions Used to Determine Net Periodic Benefit Costs</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER - -BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" ali gn="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Discount Rate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.81%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.12%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZ E: 10pt; FONT-FAMILY: times new roman">6.25%</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected Long-Term Return on Plan Assets</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; M ARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0%</font></ div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement Health and Life</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.8 &#8211; 8.5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.8 &#8211; 8.5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DIS PLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7.2 &#8211; 9.0%</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Rate of Compensation Increase</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3 &#8211; 4.6%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" widt h="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3 &#8211; 4.6%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3 &#8211; 4.6%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In establishing the expected long-term return on plan assets, we take into account the actual long-term historical performance of ou r plan assets, the actual long-term historical performance for the type of securities we are invested in, and apply the historical performance utilizing the target allocation of our plan assets to forecast an expected long-term return.&#160;Our expected rate of return is then selected after considering the results of each of those factors, in addition to considering the impact of current economic conditions, if applicable, on long-term historical returns.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The discount rate is computed using a yield curve adjusted for ALLETE&#8217;s projected cash flows to match our plan characteristics.&#160;The yield curve is determined using high-quality long-term corporate bond rates at the valuation date. We believe the adjust ed discount curve used in this comparison does not materially differ in duration and cash flows from our pension obligation.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Sensitivity of a One-Percentage-Point Change in Health Care Trend Rates</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEF T: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">One Percent</font></div></td><td valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">One Percent</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inc rease</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Decrease</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></t r><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Effect on Total of Postretirement Health and Life Service and Interest Cost</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(2.0)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px so lid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Effect on Postretirement Health and Life Obligation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$23.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(19.2)</font></div></td></tr></table></div><div style="DISPL AY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="5"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Plan Asset Allocations</font></div></td></tr><tr bgcolor="white"><td valign="top" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="24%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pension</font></div></td ><td valign="bottom" width="24%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Health and Life <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MA RGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DIS PLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">52%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">53%</font></div></td><td valign ="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">58%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">54%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="r ight"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">33%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">38%</font></div></td></tr><tr bgcolor="white"><td valign=" bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT- SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"&g t;14%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8%</font></div></td></tr><tr bgcolor=" white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN- RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Includes VEBAs and irrevocable grantor trusts.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pension plan equity securities did not include any ALLETE common stock at December 31, 2010. At December 31, 2009, $9.9 million, or 3.0 percent, of ALLETE common stock was included.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To achieve strong returns within managed risk, w e diversify our asset portfolio to approximate the target allocations in the table below. Equity securities are diversified among domestic companies with large, mid and small market capitalizations, as well as investments in international companies. The majority of debt securities are made up of investment grade bonds.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Plan Asset Target Allocations</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Postretirement</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY : times new roman">Pension</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Health and Life </font><font style="DISPLAY: inline; FONT-STYLE: italic">(a)</font></font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman" >50%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">48%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT : 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34%</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10%</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman" >9%</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9%</font>< ;/div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><d iv style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Includes VEBAs and irrevocable grantor trusts.</font></div></td></tr></table><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We utilize market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. We primarily apply the market approach for recurring fair value measurements and endeavor to utilize the best available information. Accordingly, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs, which are used to measure fair value, are prioritized through the fair value hierarchy. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 1 &#8212; Quoted prices are available in active markets for identical assets as of the reported date. Active markets are those in which transactions for the asset occur in sufficient frequency and volume to provide pricing information on an ongoing basis.</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 2 &#8212; Pricing inputs are other than quoted prices in active markets, bu t are either directly or indirectly observable as of the reported date.&#160;The types of assets included in Level 2 are typically either comparable to actively traded securities or contracts, such as treasury securities with pricing interpolated from recent trades of similar securities, or priced with models using highly observable inputs, such as commodity options priced using observable forward prices and volatilities.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level 3 &#8212; Significant inputs that are generally less observable from objective sources. The types of assets included in Level 3 are those with inputs requiring significant management judgment or estimation, such as the complex and subjective models and forecasts used to determine the fair value .</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pension Fair Value</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="47%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new rom an">At Fair Value as of December 31, 2010</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Recurring Fair Value Measures</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="ce nter"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: in line; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> Assets:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width ="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Large-cap <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font> </font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" a lign="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$63.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Mid-cap Growth <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160; &#160;U.S. Small-cap <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td><td valign="bottom" align="r ight" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28.8</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;International</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDEN T: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">77.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">77.1</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securi ties:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Mutual Funds</font></div ></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">46.5</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">46.5</font></div></td>&l t;/tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Fixed Income</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">65.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MA RGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">65.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Types of Investments:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><fon t style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Private Equity Funds</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.7</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align ="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style ="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$104.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$199.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$77.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARG IN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$382.0</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font>< /td><td valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Activity in Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Auction Rate Securities)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-IN DENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity Funds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td ><td valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td valign="top" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.1</font></div></td><td valign="bottom" align="right" width="15%"><div style="DISPLAY: block; MARGIN - -LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.7</font></div></td><td valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="top" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT - -FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4.1)</font></div></td><td valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6.1)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases, sales, and settlements, net</font></div></td& gt;<td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2.4)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOT TOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="15%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$50.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align ="right" width="16%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$20.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="47%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At Fair Value as of December 31, 2009</font></d iv></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Recurring Fair Value Measures</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FO NT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times ne w roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets:</font></div></td><td valign="botto m" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FON T-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Large-cap <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" alig n="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$23.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10p t; FONT-FAMILY: times new roman">$55.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Mid-cap Growth <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT- SIZE: 10pt; FONT-FAMILY: times new roman">10.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Small-cap <font style="DISPLAY: inline; FONT-S IZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.6</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.1</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;International</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DI SPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">66.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">66.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;ALLETE</font></di v></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="rig ht"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY : times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Mutual Funds</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" ali gn="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Fixed Income</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-I NDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59.3</font></div>< ;/td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Types of Investments:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="b ottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Private Equity Funds</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MA RGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44.7</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: i nline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new ro man">17.3</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$82.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$173.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$71.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$327.6</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" wid th="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div><font style="DISPLAY: inline; FONT-STYLE: italic">The underlying investments classified under U.S. Equity Securities consist of Money Market Funds and U.S. Government Bonds (Level 1), Hedge Funds (Level 2), and Auction Rate Securities (Level 3), which are combined with futures, which settle daily, in a portable alpha program to achieve the returns of the U.S. Equity Securities Large-cap, Mid-cap Growth, and Small-cap funds. Our exposure with respect to these investments includes both the futures and the underlying investments.</font></div><div>&#160;</div></td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TE XT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Recurring Fair Value Measures</font></div></td><td valign="top" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" wid th="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Activity in Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Auction Rate Securities)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" ali gn="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity Funds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Real Estate</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width= "12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2008</font></div></td><td valign="top" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$10.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MA RGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="top" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1 </font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8.7)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8.6)</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases, sales, and settlements, net</font></div></td><td style="BORDER-BOTTOM: black 2p x solid" valign="top" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.1)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" al ign="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="D ISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 30.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.3</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Postretirement Health and Life Fair Value</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px sol id" valign="bottom" width="48%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At Fair Value as of December 31, 2010</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Recurring Fair Value Measures</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FO NT-FAMILY: times new roman">Level 1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font ></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td va lign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPL AY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=" left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Large-cap</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.7</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font ></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Mid-cap Growth</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.4</font></div></td><td valign="bottom" align="right" width="12%">& lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inli ne; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Small-cap</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valig n="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.5</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;International</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.8</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt ; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new ro man">Debt Securities:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Mutual Funds&l t;/font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Fixed Income</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMI LY: times new roman">$27.9</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27.9</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Types of Investments:</font></div></td><td valign="bottom" width="11%"><font styl e="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Private Equity Funds</font></div></td><td style="BORDER-BOTTOM: bla ck 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" widt h="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.4</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$74.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align ="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$114.7</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div>&l t;table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Activity in Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity Funds</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><fon t style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DI SPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.4</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases, sales, and settlements, net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="24%"><div style="DISPLAY: block; M ARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div><t able style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="47%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At Fair Value as of December 31, 2009</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold"& gt;Recurring Fair Value Measures</font></font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Level 3 </font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assets:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; F ONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Securities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>< td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Large-cap</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAM ILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Mid-cap Growth</font></div></td>& lt;td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font s tyle="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;U.S. Small-cap</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</f ont></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;International</font></div></td><td valign="bottom" align="right" width="11%"> ;<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMI LY: times new roman">21.4</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt Securities:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr> ;<tr bgcolor="#cceeff"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Mutual Funds</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LE FT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Fixed Income</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DI SPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.4</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom " align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Types of Investments:</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53 %"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Private Equity Funds</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="rig ht" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.4</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="53%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Fair Value of Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$55.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$96.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Activity in Level 3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inlin e; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Private Equity Funds</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2008</font></div></td><td valign="bottom" align="right" width="24%"><div s tyle="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$7.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Actual Return on Plan Assets</font></div></td><td valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1.1)</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-I NDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases, sales, and settlements, net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="76%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="24%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 53.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.4</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounting and disclosure requirements for the Medicare Prescription Drug, Improvement and Modernization Act of 2003 (Act) provides guidance for employers that sponsor postretirement health care plans that provide prescription drug benefits. We provide postretirement health benefits that include prescription drug benefits, which qualify us for the federal subsidy under the Act.</font></div>Note 15.Pension and Other Postretirement Benefit PlansWe have noncontributory un ion and non-union defined benefit pension plans covering eligible employees.falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescription containing the entire pension and other postretirement benefits disclosure as a single block of text.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS106-2 -Paragraph 20, 21, 22 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5, 6, 7, 8 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 87 -Paragraph 264 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Implementation Guide (Q and A) -Number FAS88 -Paragraph 63 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 158 -Paragraph 7, 21, 22 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph b Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 30 -Paragraph 26 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 106 -Paragraph 518 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 03-2 -Paragraph 8 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 8 -Subparagraph m Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph h Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph a Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph q falsefalse12Pension and Other Postretirement Benefit PlansUnKnownUnKnownUnKnownUnKnownfalsetrue XML 37 R4.xml IDEA: Consolidated Statement of Cash Flows 2.2.0.25falsefalse003000 - Statement - Consolidated Statement of Cash FlowstruefalseIn Millionsfalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2falsefalseUSDfalsefalse1/1/2009 - 12/31/2009 USD ($) USD ($) / shares $c00005http://www.sec.gov/CIK0000066756duration2009-01-01T00:00:002009-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$3falsefalseUSDfalsefalse1/1/2008 - 12/31/2008 USD ($) USD ($) / shares $c00000http://www.sec.gov/CIK0000066756duration2008-01-01T00:00:002008-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0u002Dividehttp://www.xbr l.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDUSD$3true0us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalse3falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringThe net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities include all transactions and events that are not defined as investing or financing activities. Operating activities generally involve producing and delivering goods and providing services. Cash flows from operating activities are generally the cash effects of transactions and other events that enter into the determination of net income.falsefalse4false0us-gaap_ProfitLossus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse7480000074.8falsetruefalsefalsefalse2truefalsefalse6070000060.7falsetruefalsefalsefalse3truefalsefalse8300000083.0falsetruefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 5 -Subparagraph b Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 29 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) falsefalse5false0us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquityus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse-4200000-4.2falsefalsefalsefalsefalse2truefalsefalse-5800000-5.8falsefalsefalsefalsefalse3truefalsefalse-3300000-3.3falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe component of the allowance for funds used during construction during the period based on an assumed rate of return on equity funds used in financing the construction of regulated assets.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 71 -Paragraph 15 falsefalse6false0us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributionsus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel< Id>1truefalsefalse-3100000-3.1falsefalsefalsefalsefalse2truefalsefalse1000000.1falsefalsefalsefalsefalse3truefalsefalse-3100000-3.1falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThis element represents the undistributed income (or loss) of equity method investments, net of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations; such investments are accounted for under the equity method of accounting. Thi s element excludes distributions that constitute a return of investment, which are classified as investing activities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse7false0us-gaap_GainLossOnSaleOfOtherAssetsus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truefalsefalse-700000-0.7falsefalsefalsefalsefalse2truefalsefalse00falsefalsefalsefalsefalse3truefalsefalse00falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe difference between the sale price or salvage price and the book value of an asset that was sold or retired during the reporting period. This element refers to the gain (loss) and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. There is also a more specific element for realized gain (loss) on the sale of property, plant, and equipment.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse8false0ale_GainonsaleofassetsalefalsecreditdurationThe difference between the sale price or salvage price and the book value of an asset that was sold or retired during the...falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel< FootnoteIndexer />1truefalsefalse00falsefalsefalsefalsefalse2truefalsefalse-200000-0.2falsefalsefalsefalse false3truefalsefalse-4800000-4.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe difference between the sale price or salvage price and the book value of an asset that was sold or retired during the reporting period. This element refers to the gain (loss) and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash g enerated by operating activities using the indirect method.No authoritative reference available.falsefalse9false0us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNetus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse00falsefalsefalsefalsefalse2truefalsefalse00falsefalsefalsefalsefalse3truefalsefalse-6400000-6.4falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThis item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Additionally, this item would include any losses recognized for other than temporary impairments of the subject investments in debt and equity securities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 16 falsefalse10false0us-gaap_AssetImpairmentChargesus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse00falsefalsefalsefalsefalse2truefalsefalse31000003.1falsefalsefalsefalsefalse3truefalsefalse00falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 45, 46, 47 falsefalse11false0us-gaap_Depreciationus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse8050000080.5falsefalsefalsefalsefalse2truefalsefalse6470000064.7falsefalsefalsefalsefalse3truefalsefalse5550000055.5falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 falsefalse12false0us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCostsus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse9000000.9falsefalsefalsefalsefalse2truefalsefalse9000000.9falsefalsefalsefalsefalse3truefalsefalse8000000.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryRepresents the charge against earnings during the period for commitment fees and debt issuance expenses.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 8 -Article 5 falsefalse13false0us-gaap_DeferredIncomeTaxExpenseBenefitus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse6600000066.0falsefalsefalsefalsefalse2truefalsefalse7520000075.2falsefalsefalsefalsefalse3truefalse false3880000038.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section I -Subsection 7 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 45 -Subparagraph b Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 289 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 falsefalse14false0us-gaap_ShareBasedCompensationus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse22000002.2falsefalsefalsefalsefalse2truefalsefalse21000002.1falsefalsefalsefalsefalse3truefalsefa lse18000001.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse15false0us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpenseus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse71000007.1falsefalsefalsefalsefalse2truefalsefalse65000006.5falsefalsefalsefalsefalse3 truefalsefalse1010000010.1falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe amount of plan compensation cost recognized during the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -Subparagraph c falsefalse16false0us-gaap_ProvisionForDoubtfulAccountsus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse11000001.1falsefalsefalsefalsefalse2truefalsefalse13000001.3falsefalsefalsefalsefalse3truefalsefalse7000000.7falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAmount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 5 -Article 5 falsefalse17true0us-gaap_IncreaseDecreaseInOperatingCapitalAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse 00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalse3falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse18false0us-gaap_IncreaseDecreaseInAccountsAndOtherReceivablesus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse1790000017.9falsefalsefalsefalsefalse2truefalsefalse-43500000-43.5falsefalsefalsefalsefalse3truefalsefalse24000002.4falsefalsefalsef alsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the reporting period in the amount due from customers for the credit sale of goods and services; includes accounts receivable and other types of receivables.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse19false0us-gaap_IncreaseDecreaseInInventoriesus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalse< DisplayZeroAsNone>false-3000000-3.0falsefalsefalsefalsefalse2truefalsefalse-7300000-7.3falsefalsefalsefalsefalse3truefal sefalse-200000-0.2falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse20false0us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssetsus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse-4300000-4.3falsefalsefalsefalsefalse2truefalsefalse00falsefalsefalsefalsefalse3truefalsefalse1120000011.2falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the reporting period in the value of this group of assets within the working capital section.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse21false0us-gaap_IncreaseDecreaseInAccountsPayableus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse58000005.8falsefalsefalsefalsefalse2truefalsefalse1050000010.5falsefalsefalsefalsefalse3true falsefalse-14100000-14.1falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the reporting period in the aggregate amount of obligations due within one year (or one business cycle). This may include trade payables, amounts due to related parties, royalties payable, and other obligations.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse22false0ale_IncreaseDecreaseInOperatingLiabilitiesCurrentalefalsenadurationThe net change during the reporting period in other current operating liabilities not otherwise defined in the taxonomyfalsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse52000005.2falsefalsefalsefalsefalse2truefalsefalse53000005.3falsefalsefalsefalsefalse3truefalsefalse59000005.9falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the reporting period in other current operating liabilities not otherwise defined in the taxonomyNo authoritative reference available.falsefalse23false0us-gaap_IncreaseDecreaseInOtherOperatingAssetsus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse1630000016.3falsefalsefalsefalsefalse2truefalsefalse-18300000-18.3falsefalsefalsefalsefalse3truefalsefalse-180000 0-1.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the reporting period in other operating assets not otherwise defined in the taxonomy.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse24false0us-gaap_IncreaseDecreaseInOtherOperatingLiabilitiesus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse-33800000-33.8falsefalsefalsefalsefalse2truefalsefalse-17900000-17.9falsefalsefalsefalsefalse3tru efalsefalse-22900000-22.9falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change during the reporting period in other operating obligations not otherwise defined in the taxonomy.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 falsefalse25false0us-gaap_NetCashProvidedByUsedInOperatingActivitiesus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse228700000228.7falsefalsefalsefalsefalse2truefalsefalse137400000137.4falsefalsefalsefalsefalse3truefalse< /IsRatio>false153600000153.6falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 falsefalse26true0us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalse3falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse27false0us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesus-gaaptruedebit durationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse6000000.6falsefalsefalsefalse< hasScenarios>false2truefalsefalse89000008.9falsefalsefalsefalsefalse3truefalsefalse6230000062.3falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash inflow associated with the sale of debt and equity securities classified as available-for-sale securities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 16 -Subparagraph a Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 18 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 16 -Subparagraph b falsefalse28false0us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse-2300000-2.3falsefalsefalsefalsefalse2truefalsefalse-2200000-2.2falsefalsefalsefalsefalse3truefalsefalse-44800000-44.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 17 -Subparagraph b Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 18 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 17 -Subparagraph a falsefalse29false0ale_InvestmentInSubsidiaryalefalsedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse-1600000-1.6falsefalsefalsefalsefalse2truefalsefalse-7800000-7.8falsefalsefalsefalsefalse3truefalsefalse-7400000-7.4falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryNo definition available.No authoritative reference available.falsefalse30false0us-gaap_PaymentsForProceedsFromOtherInvestingActivitie sus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse13000001.3f alsefalsefalsefalsefalse2truefalsefalse-700000-0.7falsefalsefalsefalsefalse3truefalsefalse-9200000-9.2falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net cash outflow (inflow) from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 falsefalse31false0us-gaap_PaymentsToAcquirePropertyPlantAndEquipmentus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse-248900000-248.9falsefalsefalsefalsefalse2truefalsefalse-318500000-318.5falsefalsefalsefalsefalse3tr uefalsefalse-301100000-301.1falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.Reference 1: http://www.xbrl.org/2003/role/presenta tionRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 17 -Subparagraph c falsefalse32false0us-gaap_ProceedsFromSaleOfProductiveAssetsus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsefalsefalse2truefalsefalse3000000.3falsefalsefalsefalsefalse3truefalsefalse2040000020.4falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash inflow from the sale of property, plant and equipment (capital expenditures), software, and other intangible assets.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 16 -Subparagraph c falsefalse33false0us-gaap_PaymentsToAcquireEquityMethodInvestmentsus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1true falsefalse00falsefalsefalsefalsefalse2truefalsefalse00falsefalsefalsefalsefalse3truefalsefalse37000003.7falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 17 -Subparagraph b falsefalse34false0us-gaap_NetCashProvidedByUsedInInvestingActivitiesus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse-250900000-250.9falsefalsefalsefalsefalse2truefalsefalse-320000000-320.0falsefalsefalsefalsefalse3truefalsefalse-276100000-276.1falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net cash inflow (outflow) from investing activity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 falsefalse35true0us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsefalse00falsefalsefalsefalsefalse3falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse36false0us-gaap_ProceedsFromIssuanceOfCommonStockus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse2050000020.5falsefalsefalsefalsefalse2truefalsefalse6520000065.2falsefalsefalsefalsefalse3truefalsefalse7110000071.1falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash inflow from the additional capital contribution to the entity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 19 -Subparagraph a falsefalse37false0us-gaap_ProceedsFromIssuanceOfLongTermDebtus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse155000000155.0falsefalsefalsefalsefalse2truefalsefalse111400000111.4falsefalsefalsefalsefalse3truefalse false198700000198.7falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 19 -Subparagraph b falsefalse38false0us-gaap_ProceedsFromRepaymentsOfNotesPayableus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse-900000-0.9falsefalsefalsefalsefalse2truefalsefalse-4100000-4.1falsefalsefalsefalsefalse3truefalse< /IsRatio>false60000006.0falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net cash inflow (outflow) from a borrowing supported by a written promise to pay an obligation.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 falsefalse39false0us-gaap_RepaymentsOfLongTermDebtus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse-71000000-71.0falsefalsefalsefalsefalse2truefalsefalse-9100000-9.1falsefalsefalsefalsefalse3truefalse false-22700000-22.7falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 20 -Subparagraph b falsefalse40false0us-gaap_PaymentsOfDebtIssuanceCostsus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse-1400000-1.4falsefalsefalsefalsefalse2truefalsefalse-600000-0.6falsefalsefalsefalsefalse3truef alsefalse-1500000-1.5falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 95-13 falsefalse41false0us-gaap_PaymentsOfDividendsCommonStockus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse-60800000-60.8falsefalsefalsefalsefalse2truefalsefalse-56500000-56.5falsefalsefalsefalsefalse3truefa lsefalse-50400000-50.4falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe cash outflow from the distribution of an entity's earnings in the form of dividends to common shareholders.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 20 -Subparagraph a falsefalse42false0us-gaap_NetCashProvidedByUsedInFinancingActivitiesus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse4140000041.4falsefalsefalsefalsefalse2truefalsefalse106300000106.3falsefalsefalsefalsefalse3truefalsefalse201200000201.2falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net cash inflow (outflow) from financing activity for the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 falsefalse43false0us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse1920000019.2falsefalsefalsefalsefalse2truefalsefalse-76300000-76.3falsefalsefalsefalsefalse3truefalsefalse7870000078.7falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe net change between the beginning and ending balance of cash and cash equivalents.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 26 falsefalse44false0us-gaap_CashAndCashEquivalentsAtCarryingValueus-gaaptruedebitinstantNo definition available.falsefalsefalsefalsefalsefalsefalsetruefalsefalseperiodstartlabel1truefalsefalse2570000025.7falsefalsefalsefalsefalse2truefalsefalse102000000102.0falsefalsefalsefalsefalse3truefalsefalse2330000023.3falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryIncludes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7, 26 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 8, 9 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7 -Footnote 1 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5 falsefalse45false0us-gaap_CashAndCashEquivalentsAtCarryingValueus-gaaptruedebitinstantNo definition available.falsefalsefalsefalsefalsefalsefalsefalsetruefalseperiodendlabel1tru efalsefalse4490000044.9falsefalsefalsefalsefalse2truefalsefalse2570000025.7falsefalsefalsefalsefalse3< IsNumeric>truefalsefalse102000000102.0falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryIncludes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash eq uivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7, 26 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 8, 9 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 7 -Footnote 1 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5 falsefalse46false0us-gaap_ProfitLossus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse7480000074.8falsetruefalsefalsefalse2truefalsefalse6070000060.7falsetruefalsefalsefalse3truefalsefalse8300000083.0falsetruefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 5 -Subparagraph b Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 29 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) falsefalse344Consolidated Statement of Cash Flows (USD $)HundredThousandsUnKnownUnKnownUnKnownfalsetrue XML 38 R16.xml IDEA: EarningsPerShareAndCommonStock 2.2.0.25falsefalse006110 - Disclosure - EarningsPerShareAndCommonStocktruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_EarningsPerShareTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 11.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Common Stock and Earnings Per Share</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Summary of Common Stock</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity</font&g t;</div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="79%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thousands</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLA Y: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2007</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30,827</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$461.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FON T-SIZE: 10pt; FONT-FAMILY: times new roman">2008&#160;&#160;&#160;Employee Stock Purchase Plan</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Invest Direct</font></div></ td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">161</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.9</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options and Stock Awards</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARG IN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">24</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.6</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Issuance Program</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style=" DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,556</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60.8</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2008</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32,585</fon t></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$534.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009&#160;&#160;&#160;Employee Stock Purchase Plan</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">24</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.7</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Invest Direct</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">456</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE : 10pt; FONT-FAMILY: times new roman">13.6</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options and Stock Awards</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></div></td></tr><tr bgcolor="white"><td vali gn="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Issuance Program</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,685</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36 pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Contributions to Pension</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">463</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12.0</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="lef t"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2009</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35,221</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$613.4</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010&#160;&#160;&a mp;#160;Employee Stock Purchase Plan</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">19</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.6</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Invest Direct</font></div></td><td valign="bottom" align="right" width="11%"><div style="DI SPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">346</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options and Stock Awards</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT - -SIZE: 10pt; FONT-FAMILY: times new roman">51</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.4</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity Issuance Program</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">180< /font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="79%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance as of December 31, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">35,817</ font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$636.1</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Equity Issuance Program.</font> We entered into a distribution agreement with KCCI, Inc., in February 2008, as amended, with respect to the issuance and sale of up to an aggregate of 6.6 million shares of our common stock, without par value. For the year ended December&#160;31,&#160;2010, 0.2 millio n shares of common stock were issued under this agreement resulting in net proceeds of $6.0 million. During 2009, 1.7 million shares of common stock were issued for net proceeds of $51.9 million. As of December&#160;31,&#160;2010, approximately 3.1 million shares of common stock remain available for issuance pursuant to the amended distribution agreement. The shares issued in 2010 and 2009 were offered for sale, from time to time, in accordance with the terms of the amended distribution agreement pursuant to Registration Statement No. 333-147965. The remaining shares may be offered for sale, from time to time, in accordance with the terms of the amended distribution agreement pursuant to Registration Statement No. 333-170289.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New R oman"><a id="Shareholder" name="Shareholder"><!--EFPlaceholder--></a><font style="DISPLAY: inline; FONT-WEIGHT: bold">Authorized Common Stock.</font> On May 12, 2009, shareholders approved an amendment to the Company&#8217;s Amended and Restated Articles of Incorporation to increase the number of authorized shares of common stock from 43.3 million to 80.0 million.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Earnings Per Share.</font> The difference between basic and diluted earnings per share arises, if any, from outstanding stock options, non-vested restricted stock, and performance share awards granted under our Executive and Director Long-Term Incentive Compensation Pla ns. In accordance with accounting standards for earnings per share, for 2010, 0.5 million options to purchase shares of common stock were excluded from the computation of diluted earnings per share because the option exercise prices were greater than the average market prices, and therefore, their effect would be anti-dilutive (0.6 million shares were excluded for 2009 and 0.6 million in 2008).</font></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reconciliation of Basic and Diluted</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FO NT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Earnings Per Share</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dilutive</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic</font></div></td><t d style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Securities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Diluted</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions Except Per Share Amounts</font></div></td><td vali gn="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPL AY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARG IN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$75.3</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new ro man">$75.3</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common Shares</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34.2</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN- LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Per Share of Common Stock</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.20</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT- FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.19</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></ tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; F ONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$61.0</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$61.0</font></div></td></tr><tr bgcolor="#cceeff"><td valign= "bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common Shares</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32.2</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32.2</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Per Share of Common Stock</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.89</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bott om" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.89</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div s tyle="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font& gt;</div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$82.5</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$82.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-IND ENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common Shares</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29.2</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29.3</font></div></td>< ;/tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="67%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Per Share of Common Stock</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.82</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td>&l t;td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.82</font></div></td></tr></table></div>Note 11.Common Stock and Earnings Per ShareSummary of Common StockSharesEquity&#160; ThousandsMillionsBalance as of December 31,falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis element may b e used to capture the complete disclosure pertaining to an entity's earnings per share.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 falsefalse12EarningsPerShareAndCommonStockUnKnownUnKnownUnKnownUnKnownfalsetrue XML 39 R9.xml IDEA: Jointly-Owned Electric Facility 2.2.0.25falsefalse006040 - Disclosure - Jointly-Owned Electric Facilitytruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_ScheduleOfJointlyOwnedUtilityPlantsTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 4.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Jointly-Owned Electric Facility</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align= "justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Following are our investments in jointly owned plants and the related ownership percentages as of December 31, 2010:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=" center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Plant in Service</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated Depreciation</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; T EXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Construction Work in Progress</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">% Ownership</font></div></td></tr><tr bgcolor="white"><td valign="top" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> ;Millions</font></div></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="2%"><font style="DISPLAY: inli ne; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Boswell Unit 4</font></div></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$407.5</font></div></td><td valign="bottom " width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$175.5</font></div></td><td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$19.6</font></div></td><td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bot tom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CapX2020</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; F ONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style=" DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.3 &#8211; 14.7</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="25%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td><td style="BORDER-BOTTOM: black 2px solid" val ign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$407.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.5pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$175.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid " valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="14%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-IN DENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We own 80 percent of the 585-MW Boswell Energy Center Unit 4 (Boswell Unit 4). While we operate the plant, certain decisions about the operations of Boswell Unit 4 are subject to the oversight of a committee on which we and WPPI Energy, the owner of the remaining 20 percent of Boswell Unit 4, have equal representation and voting rights. Each of us must provide our own financing and is obligated to pay our ownership share of operating costs. Our share of direct operating expenses of Boswell Unit 4 is included in operating expense on our consolidated statement of income. We are a participant in the CapX2020 initiative to ensure reliable electric transmission and distribution in the surrounding region, along with other electric cooperatives, municipals, and investor-owned utilities.&#160;We are currently participating in three CapX2020 projects with varying ownership percentage s.</font></div>Note 4.Jointly-Owned Electric FacilityFollowing are our investments in jointly owned plants and the related ownership percentages as of December 31,falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes that the entity has a proportionate interest in a jointly owned utility plant. Should include a table showing separately for each interest the amount of plant in service, the accumulated provision for depreciation (if available), the amount of plant under construction, and the proportionate share. The amounts presented may be further subdivided to show amounts applicable to plant subcategories (for example, production, transmission, distribution). Should include statements that the amounts represent the utility's share in each joint plant and that it must provide its own financing. Information concerning two or more generating plants on the same site may be combined. Should state that the utility's share of direct expenses of the joint plants is included in the corresponding operating expenses on its income statement (for example, fuel, maintenance of plant, other operating expense). If the share of direct expenses is charged to purchased power then should disclose the amount so charged and the proportionate amounts charged to specific operating expenses on the records maintained for the joint plants.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 10 -Section C falsefalse12Jointly-Owned Electric FacilityUnKnownUnKnownUnKnownUnKnownfalsetrue XML 40 R6.xml IDEA: Operations and Significant Accounting Policies 2.2.0.25falsefalse006010 - Disclosure - Operations and Significant Accounting Policiestruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_SignificantAccountingPoliciesTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1falsefalsefalse00<div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 1.</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Operations and Significant Accounting Policies</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TE XT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Financial Statement Preparation.</font> References in this report to &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; are to ALLETE and its subsidiaries, collectively. We prepare our financial statements in conformity with accounting principles generally accepted in the United States of America. These principles require management to make informed judgments, best estimates, and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results could differ from those estimates.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: T imes New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Subsequent Events. </font>The Company performed an evaluation of subsequent events for potential recognition and disclosure through the time of the financial statements issuance.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Principles of Consolidation.</font> Our consolidated financial statements include the accounts of ALLETE and all of our majority-owned subsidiary companies. All material intercompany balances and transactions have been eliminated in consolidation.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Business Segments.</font> Our Regulated Operations and Investments and Other segments were determined in accordance with the guidance on segment reporting. Segmentation is based on the manner in which we operate, assess, and allocate resources to the business. We measure performance of our operations through budgeting and monitoring of contributions to consolidated net income by each business segment.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Regulated Operations </font>includes retail and wholesale rate-regulated electric, natu ral gas, and water services in northeastern Minnesota and northwestern Wisconsin along with our Investment in ATC. Minnesota Power provides regulated utility electric service to 146,000 retail customers in northeastern Minnesota. SWL&amp;P, a wholly-owned subsidiary, provides regulated utility electric, natural gas and water service in northwestern Wisconsin to 15,000 electric customers, 12,000 natural gas customers and 10,000 water customers. Regulated utility rates are under the jurisdiction of Minnesota, Wisconsin and federal regulatory authorities. Our Investment in ATC includes our approximate 8 percent equity ownership interest in ATC, a Wisconsin-based utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. (See Note 6. Investment in ATC.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify "><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Investments and Other</font> is comprised primarily of BNI Coal, our coal mining operations in North Dakota, and ALLETE Properties, our Florida real estate investment. This segment also includes a small amount of non-rate base generation, approximately 7,000 acres of land available-for-sale in Minnesota, and earnings on cash and investments.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BNI Coal, a wholly-owned subsidiary, mines and sells lignite coal to two North Dakota mine-mouth generating units, one of which is Square Butte. In 2010, Square Butte supplied approximately 50 percent (227.5 MW) of its output to Minnesota Pow er under a long-term contract. (See Note 10. Commitments, Guarantees and Contingencies.) Coal sales are recognized when delivered at the cost of production plus a specified profit per ton of coal delivered.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ALLETE Properties is our Florida real estate investment. Our current strategy for the assets is to complete and maintain key entitlements and infrastructure improvements without requiring significant additional investment, and sell the portfolio over time or in bulk transactions.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE : 10pt; FONT-FAMILY: Times New Roman">Full profit recognition is recorded on sales upon closing, provided that cash collections are at least 20 percent of the contract price and the other requirements under the guidance for sales of real estate, are met. In certain cases, where there are obligations to perform significant development activities after the date of sale, we recognize profit on a percentage-of-completion basis. From time to time, certain contracts with customers allow us to receive participation revenue from land sales to third parties if various formula-based criteria are achieved.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In certain cases, we pay fees or construct improvements to mitigate offsite traffic impacts. In return, we receive traffic impact fee credits as a result of some of these expenditures. We recognize revenue from the sale of traffic impact fee credits when payment is received.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Land held-for-sale is recorded at the lower of cost or fair value determined by the evaluation of individual land parcels and is included in Other Investments on our consolidated balance sheet. Real estate costs include the cost of land acquired, subsequent development costs and costs of improvements, capitalized development period interest, real estate taxes and payroll costs of certain employees devoted directly to the development effort. These real estate costs incurred are capitalized to the cost of real estate parcels based upon the relative sales value of parcels within each development project in accordance with the accounting standards for real estate. The cost of real estate includes the actual costs incurred and the estimate of future completion costs allocated to the real estate sold based upon the relative sales value method. Whenever events or circumstances indicate that the carrying value of the real estate may not be recoverable, impairments would be recorded and the related assets would be adjusted to their estimated fair value, less costs to sell. (See Note 7. Investments.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Cash and Cash Equivalents.</font> We consider all investments purchased with original maturities of three months or less to be cash equivalents.</font& gt;</div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Supplemental Statement of Cash Flow Information</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated Statement of Cash Flows</font></div></td><td valign="bottom" width="32%" colspan="3"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FON T-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Supplemental Disclosure</font></div></td><td valign="bottom" width="32%" colspan="3"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="middle" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td& gt;<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash Paid During the Period for</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inlin e; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest &#8211; Net of Amounts Capitalized</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.7</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.1pt" a lign="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.8</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$25.2</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Taxes (Net of refunds received of $57.1, $6.7 and $&#8211;) <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RI GHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(54.2)</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(5.6)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$6.5</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="68%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Noncash Investing and Financing Activities</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td> ;<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase (Decrease) in Accounts Payable for Capital Additions to Property, Plant and Equipment</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$7.5</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.1pt" align="right"><font style="DISPLA Y: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(24.1)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.1</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">AFUDC &#8211; Equity</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.2</font></div></td><td valign="bott om" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.8</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.3</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ALLETE Common Stock contributed to the Pension Plan</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" wid th="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(12.0)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div>& lt;table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 18pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Due to bonus depreciation provisions in the Small Business Jobs Act of 2010 and the American Recovery and Reinvestment Act of 2009, lower estimated tax payments were made in 2010 and 2009. Refunds received in 2010 resulted from a 2009 NOL which was utilized by carrying it back against prior years&#8217; taxable income and the completion of a state income tax audit.</font></div></td></tr></table></div><div style="DISPLAY: block; TEX T-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Accounts Receivable.</font> Accounts receivable are reported on the balance sheet net of an allowance for doubtful accounts. The allowance is based on our evaluation of the receivable portfolio under current conditions, overall portfolio quality, review of specific problems and such other factors that, in our judgment, deserve recognition in estimating losses.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0 pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounts Receivable</font></div></td><td valign="top" width="22%" colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></d iv></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2009</font></font></div></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Trade Accounts Receivable</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="top" width="78%"><div style="DISPLAY : block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Billed</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$67.6</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$56.5</font></div></td></tr><tr bgcolor="white"><td valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unbilled</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18.9</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less: Allowance for Doubtful Accounts</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.9</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Trade Accounts Receivable</font></div></td><td style="BORDER-BOTTOM: black 2px sol id" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">85.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">70.7</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Taxes Receivable</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign=" bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Accounts Receivable &#8211; Net</font></div></td><td style="BORDER-BOTTOM: black 2px solid" vali gn="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$99.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 21.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$118.5</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Concentration of Credit Risk.</font> Financial instruments that subject u s to concentrations of credit risk consist primarily of accounts receivable. Minnesota Power sells electricity to 10 Large Power Customers. Receivables from these customers totaled $17.3 million at December 31, 2010 ($9.6 million at December 2009). Minnesota Power does not obtain collateral to support utility receivables, but monitors the credit standing of major customers. In addition, our taconite-producing Large Power Customers are on a weekly billing cycle, which allows us to closely manage collection of amounts due.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Long-Term Finance Receivables. </font>Long-term finance receivables relating to our real estate operations are collateralized by property sold, acc rue interest at market-based rates and are net of an allowance for doubtful accounts. We assess delinquent finance receivables by comparing the balance of such receivable to the estimated fair value of the collateralized property. If the fair value of the property is less than the finance receivable, we record a reserve for the difference. We estimate fair value based on recent property tax assessed values or current appraisals. (See Note 7. Investments.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Available-for-Sale Securities. </font>Available-for-sale securities are recorded at fair value with unrealized gains and losses included in accumulated other comprehensive income (loss), net of tax. Unrealized loss es that are other than temporary are recognized in earnings. We use the specific identification method as the basis for determining the cost of securities sold. Our policy is to review available-for-sale securities for other than temporary impairment on a quarterly basis by assessing such factors as the share price trends and the impact of overall market conditions. (See Note 7. Investments.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Inventories.</font> Inventories are stated at the lower of cost or market. Amounts removed from inventory are recorded on an average cost basis.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT- SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inventories</font></div></td><td valign="bottom" width="22%" colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valig n="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="top" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times ne w roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fuel</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$22.9</font></div></td><td valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$23.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="botto m" align="left" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Materials and Supplies</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">37.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34.0</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="le ft" width="78%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Inventories</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 26.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$60.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$57.0</font></div></td></tr></table></div></div><div>&#160;</div><div style="DISPLAY: block; MARGIN-LEF T: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Property, Plant and Equipment.</font> Property, plant and equipment are recorded at original cost and are reported on the balance sheet net of accumulated depreciation. Expenditures for additions, significant replacements, improvements and major plant overhauls are capitalized; maintenance and repair costs are expensed as incurred. Gains or losses on non-rate base property, plant and equipment are recognized when they are retired or otherwise disposed. When regulated utility property, plant and equipment are retired or otherwise disposed, no gain or loss is recognized in accordance with the accounting standards for Regulated Operations. Our Regulated Operations capitalize AFUDC, which includes both an interest and equity component. AFUDC represents the cost of both debt and equity funds used to finance u tility plant additions during construction periods. AFUDC amounts capitalized are included in rate base and are recovered from customers as the related property is depreciated. However, the MPUC has approved current cost recovery for several large capital projects recently, resulting in lower recognition of AFUDC. (See Note 3. Property, Plant and Equipment.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Long-Lived Asset Impairments.</font> We account for our long-lived assets at depreciated historical cost. A long-lived asset is tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. We conduct this assessment in accordance with the account ing standards for impairment or disposal of long-lived assets. Judgments and uncertainties affecting the application of accounting for asset impairment include economic conditions affecting market valuations, changes in our business strategy, and changes in our forecast of future operating cash flows and earnings. We would recognize an impairment loss only if the carrying amount of a long-lived asset is not recoverable from its undiscounted future cash flows. Management judgment is involved in both deciding if testing for recoverability is necessary and in estimating undiscounted future cash flows.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Derivatives.</font> We review all material power purchase and sales contracts for derivative treatment to determine if they qualify for the normal purchase normal sale exception under the guidance for derivatives and hedging.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Accounting for Stock-Based Compensation. </font>We apply the fair value recognition guidance for share-based payments. Under this guidance, we recognize stock-based compensation expense for all share-based payments granted, net of an estimated forfeiture rate. (See Note 16. Employee Stock and Incentive Plans.)</font></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="DISPLAY: block; TEXT-INDENT: 0pt">& lt;table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prepayments and Other Current Assets</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -0.9pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="left" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td>< td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred Fuel Adjustment Clause (See Note 5. Regulatory Matters)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$20.6</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY : block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.5</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt ; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Prepayments and Other Current Assets</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$28.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT : 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$24.3</font></div></td></tr></table></div><div><br />&#160;</div><div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other Non-Current Liabilities</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font>&l t;/td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -5.4pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="#cceeff"><td valign="middle" align="lef t" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Future Benefit Obligation Under Defined Benefit Pension and Other Postretirement Plans</font></div></td><td valign="bottom" align="right" width="10%"><div sty le="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$231.4</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$231.2</font></div></td></tr><tr bgcolor="#cceeff"><td valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Asset Retirement Obligation (See Note 3. Property, Plant and Equipment)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right" ><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50.3</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44.6</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"& gt;43.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">49.2</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="80%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Other Non-Current Liabilities</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"& gt;$324.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$325.0</font></div></td></tr></table></div><br /><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Environmental Liabilities.</font> We review environmental matters for disclosure on a quarterly basis. Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes avail able. Accruals for environmental liabilities are included in the balance sheet at undiscounted amounts and exclude claims for recoveries from insurance or other third parties. Costs related to environmental contamination treatment and cleanup are charged to operating expense unless recoverable in rates from customers. (See Note 10. Commitments, Guarantees and Contingencies.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Revenue Recognition.</font> Regulated utility rates are under the jurisdiction of Minnesota, Wisconsin and federal regulatory authorities. Customers are billed on a cycle basis. Revenue is accrued for service provided but not billed. Regulated utility electric rates include adjustment clauses th at: (1) bill or credit customers for fuel and purchased energy costs above or below the base levels in rate schedules; (2) bill retail customers for the recovery of conservation improvement program expenditures not collected in base rates; and (3) bill customers for the recovery of certain environmental and renewable energy expenditures. Fuel and purchased power expense is deferred to match the period in which the revenue for fuel and purchased power expense is collected from customers pursuant to the fuel adjustment clause.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Unamortized Discount and Premium on Debt.</font> Discount and premium on debt are deferred and amortized over the terms of the related debt ins truments using the straight-line method.</font></div><div>&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Income Taxes.</font> We file a consolidated federal income tax return. We account for income taxes using the liability method in accordance with the accounting standards for income taxes. Under the liability method, deferred income tax assets and liabilities are established for all temporary differences in the book and tax basis of assets and liabilities, based upon enacted tax laws and rates applicable to the periods in which the taxes become payable. Due to the effects of regulation on Minnesota Power and SWL&amp;P, certain adjustments made to deferred income taxes are, in turn, recorded as regulatory assets or liabilities. Federal investment tax credits have be en recorded as deferred credits and are being amortized to income tax expense over the service lives of the related property. In accordance with the accounting standards for uncertainty in income taxes, we are required to recognize in our financial statements the largest tax benefit of a tax position that is &#8220;more-likely-than-not&#8221; to be sustained on audit, based solely on the technical merits of the position as of the reporting date. The term &#8220;more-likely-than-not&#8221; means more than 50 percent likely. (See Note 13. Income Tax Expense.)</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Excise Taxes.</font> We collect excise taxes from our customers levied by government entities. These taxes are stated separately on the billing to the customer and recorded as a liability to be remitted to the government entity. We account for the collection and payment of these taxes on a net basis.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Recently Adopted Accounting Standards.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Receivables</font>.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>In July 2010, the FASB i ssued an accounting standards update requiring expanded disclosures on allowances for credit losses and the credit quality of the financing receivables of an entity. This guidance also requires a roll forward schedule of the allowance for credit losses for each reporting period. The guidance for greater transparency was adopted December 31, 2010, and did not have an impact on our consolidated financial position, results of operations or cash flows. The guidance for the roll forward requirement is effective January 1, 2011, and is not expected to have an impact on our consolidated financial position, results of operations or cash flows as the amended guidance provides only disclosure requirements.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inli ne; FONT-STYLE: italic">Derivative Instruments and Hedging Activities.</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>In March 2010, the FASB issued new guidance on the accounting for credit derivatives that are embedded in beneficial interests in securitized financial assets. This new guidance eliminated the scope exception for embedded credit derivatives and provided new guidance on the evaluation to be performed. This guidance was effective June 15, 2010. As of December 31, 2010, we did not have any embedded credit derivatives.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Subsequent Events.</font> In February 2010, the FASB issued an accounting standards update that eliminates the requirement to disclose the date through which subsequent events have been evaluated. The amended guidance was adopted and effective during the first quarter of 2010, and did not have an impact on our consolidated financial position, results of operations or cash flows.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Fair Value.</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>In January 2010, the FASB issued an amendment to the fair value measurement and disclosure standard improving disclosures about fair value measurements. This amended guidance requires separate disclosure of significant transfers in and out of Levels 1 and 2 and the reasons for the tra nsfers. The amended guidance also requires that in the Level 3 reconciliation, the information about purchases, sales, issuances, and settlements be disclosed separately on a gross basis rather than as one net number. The guidance for the Level 1 and 2 disclosures was adopted January&#160;1,&#160;2010, and did not have an impact on our consolidated financial position, results of operations or cash flows. The guidance for the activity in Level 3 disclosures is effective January 1, 2011, and is not expected to have an impact on our consolidated financial position, results of operations or cash flows as the amended guidance provides only disclosure requirements.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Var iable Interest Entities (VIEs).</font> In June 2009, the FASB issued authoritative guidance changing the approach to determine a VIE&#8217;s primary beneficiary and requiring ongoing assessments of whether an enterprise is the primary beneficiary of a VIE. This guidance also requires additional disclosures about a company&#8217;s involvement with VIEs and any significant changes in risk exposure due to that involvement. This guidance was adopted January 1, 2010, and did not have an impact on our consolidated financial position, results of operations or cash flows.</font></div>Note 1.Operations and Significant Accounting PoliciesFinancial Statement Preparation. References in this report to &#8220;we,&#8221; &#8220;us,&#8221; andfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis element may be used to describe all significant accounting policies of the reporting entity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 22 -Paragraph 8 falsefalse12Operations and Significant Accounting PoliciesUnKnownUnKnownUnKnownUnKnownfalsetrue XML 41 R5.xml IDEA: Consolidated Statement of Shareholders' Equity 2.2.0.25truefalse004000 - Statement - Consolidated Statement of Shareholders' EquitytruefalseIn Millionsfalse1falsefalseUSDtruefalse{us-gaap_StatementEquityComponentsAxis} : Retained Earnings [Member] 1/1/2010 - 12/31/2010 USD ($) $c00027http://www.sec.gov/CIK0000066756na0001-01-01T00:00:000001-01-01T00:00:00falsefalseus-gaap_RetainedEarningsMemberus-gaap_StatementEquityComponentsAxisxbrldihttp://xbrl.org/2006/xbrldius-gaap_RetainedEarningsMemberus-gaap_StatementEquityComponentsAxisexplicitMemberu000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$2falsefalseUSDtruefalse{us-gaap_StatementEquityComponentsAxis} : Accumulated Other Comprehensive Income [Member] 1/1/2010 - 12/31/2010 USD ($) $c00028http://www.sec.gov/CIK0000066756na0001-01-01T00:00:000001-01-01T00:00:00falsefalseus-gaap_AccumulatedOtherComprehensiveIncomeMemberus-gaap_StatementEquityComponentsAxisxbrldihttp://xbrl.org/2006/xbrldius-gaap_AccumulatedOtherComprehensiveIncomeMemberus-gaap_StatementEquityComponentsAxisexplicitMemberu000Standardhttp://www.xbrl.org/2003/iso4 217USDiso42170USDUSD$3falsefalseUSDtruefalse{us-gaap_StatementEquityComponentsAxis} : Deferred Compensation Share Based Payments [Member] 1/1/2010 - 12/31/2010 USD ($) $c00029http://www.sec.gov/CIK0000066756na0001-01-01T00:00:000001-01-01T00:00:00falsefalseus-gaap_DeferredCompensationShareBasedPaymentsMemberus-gaap_StatementEquityComponentsAxisxbrldihttp://xbrl.org/2006/xbrldius-gaap_DeferredCompensationShareBasedPaymentsMemberus-gaap_StatementEquityComponentsAxisexplicitMemberu000Standardhttp://www.xbrl.org/200 3/iso4217USDiso42170USDUSD$4falsefalseUSDtruefalse{us-gaap_StatementEquityComponentsAxis} : Common Stock [Member] 1/1/2010 - 12/31/2010 USD ($) $c00030http://www.sec.gov/CIK0000066756na0001-01-01T00:00:000001-01-01T00:00:00falsefalseus-gaap_CommonStockMemberus-gaap_StatementEquityComponentsAxisxbrldihttp://xbrl.org/2006/xbrldius-gaap_CommonStockMemberus-gaap_StatementEquityComponentsAxisexplicitMemberu000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$5falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756na0001-01-01T00:00:000001-01-01T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$1false0us-gaap_StockholdersEquityus-gaaptruecreditinstantNo definition available.falsefalsefalsetruefalsefalsefalsetruefalsefalseperiodstartlabelinstant2008-01-01T00:00:000001-01-01T00:00:001truefalsefalse350400000350.4falsetruefalsetruefalse2truefalsefalse-4500000-4.5falsetruefalsetruefalse3truefalsefalse-64500000-64.5falsetruefalsetruefalse4< /Id>truefalsefalse461200000461.2falsetruefalsetruefalse5truefalsefalse742600000742.6falsetruefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryTotal of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A3 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 falsefalse2true0us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterestAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsetruefalse2falsefalsefalse00falsefalsefalsetruefalse3f alsefalsefalse00falsefalsefalsetruefalse4falsefalsefalse00falsefalsefalsetruefalse5falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_ProfitLossus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse8300000083.0falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse8300000083.0falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 5 -Subparagraph b Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 29 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) falsefalse4true0us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsetruefalse2falsefalsefalse00falsefalsefalsetruefalse3falsefalsefalse00falsefalsefalsetruefalse4falsefalsefalse00falsefalsefalsetruefalse5falsefalsefa lse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse5false0us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTaxus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse-6000000-6.0falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse-6000000-6.0falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAppreciation or loss in value (before reclassification adjustment) of the total of unsold securities during the period being reported on, net of tax. Reclassification adjustments include: (1) the unrealized holding gain or loss, net of tax, at the date of the transfer for a debt security from the held-to-maturity category transferred into the available-for-sale category. Also includes the unrealized gain or loss at the date of transfer for a debt security from the available-for-sale category transferred into the held-to-maturity category; (2) the unrealized gains or losses realized upon the sale of securities, after tax; and (3) the unrealized gains or losses realized upon the write-down of securities, after tax.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 17, 22 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 13 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(3) Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 24 -Subparagraph b falsefalse6false0us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTaxus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsetruenegated1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse-3700000-3.7falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse-3700000-3.7falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryReclassification adjustment for unrealized gains or losses realized upon the sale of securities, after tax.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(3) Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 24 -Subparagraph b Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 18, 19 falsefalse7false0us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecreaseus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1 truefalsefalse00falsefalsefalsetruefalse2truefalsefalse-18800000-18.8falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5< IsNumeric>truefalsefalse-18800000-18.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryNet changes to accumulated comprehensive income during the period related to benefit plans, after tax.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 158 -Paragraph 7 -Subparagraph c Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(3) Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 14, 17, 22, 26 falsefalse8false0us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterestus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5true falsefalse5450000054.5falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A5 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 29 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a falsefalse9false0us-gaap_NetIncomeLossAttributableToNoncontrollingInterestus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1true falsefalse-500000-0.5falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3true falsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5true falsefalse-500000-0.5falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 falsefalse10false0us-gaap_ComprehensiveIncomeNetOfTaxus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsef alse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse5400000054.0falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ow nership interest in subsidiary equity which is not attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A5 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 30 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(3) Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 8, 9, 10, 11, 12, 13, 14 falsefalse11false0us-gaap_CumulativeEffectOfInitialAdoptionOfSFAS158us-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse-1600000-1.6falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalse< DisplayZeroAsNone>false-1600000-1.6falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryCumulative effect of initial adoption of Statement of Financial Accounting Standard 158 (FAS No. 158), Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans on beginning retained earnings, net of tax.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 158 -Paragraph 21 falsefalse12false0us-gaap_StockIssuedDuringPeriodValueNewIssuesus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3true< IsRatio>falsefalse00falsefalsefalsetruefalse4truefalsefalse7290000072.9falsefalsefalsetruefalse5true falsefalse7290000072.9falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryValue of new stock issued during the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 falsefalse13false0us-gaap_DividendsCommonStockus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse-50400000-50.4falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse-50400000-50.4falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 falsefalse14false0us-gaap_StockIssuedDuringPeriodValueEmployeeStockOwnershipPlanus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse96000009.6falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse96000009.6falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAggregate value of stock issued during the period as a result of employee stock ownership plan (ESOP).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 falsefalse15false0us-gaap_StockholdersEquityus-gaaptruecreditinstantNo definition available.falsefalsefalsetruefalsefalsefalsefalsetruefalseperiodendlabelinstant2008-12-31T00:00:000001-01-0 1T00:00:001truefalsefalse380900000380.9falsefalsefalsetruefalse2truefalsefalse-33000000-33.0falsefalsefalsetruefalse3truefalsefalse-54900000-54.9falsefalsefalsetruefalse4truefalsefalse534100000534.1falsefalsefalsetruefalse5truefalsefalse827100000827.1falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryTotal of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attribu table to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A3 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 falsefalse16true0us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterestAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsetruefalse2falsefalsefalse00falsefalsefalsetruefalse3 falsefalsefalse00falsefalsefalsetruefalse4falsefalsefalse00falsefalsefalsetruefalse5falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse17false0us-gaap_ProfitLossus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse6070000060.7falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse6070000060.7falsefalsefalse< hasSegments>falsefalseMonetaryxbrli:monetaryItemTypemonetaryThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 5 -Subparagraph b Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 29 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) falsefalse18true0us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsetruefalse2falsefalsefalse00falsefalsefalsetruefalse3falsefalsefalse00falsefalsefalsetruefalse4falsefalsefalse00falsefalsefalsetruefalse5falsefalsef alse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse19false0us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTaxus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse28000002.8falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse28000002.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAppreciation or loss in value (before reclassification adjustment) of the total of unsold securities during the period being reported on, net of tax. Reclassification adjustments include: (1) the unrealized holding gain or loss, net of tax, at the date of the transfer for a debt security from the held-to-maturity category transferred into the available-for-sale category. Also includes the unrealized gain or loss at the date of transfer for a debt security from the available-for-sale category transferred into the held-to-maturity category; (2) the unrealized gains or losses realized upon the sale of securities, after tax; and (3) the unrealized gains or losses realized upon the write-down of securities, after tax.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 17, 22 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 13 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(3) Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 24 -Subparagraph b falsefalse20false0us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecreaseus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse62000006.2falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse62000006.2falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryNet changes to accumulated comprehensive income during the period related to benefit plans, after tax.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 158 -Paragraph 7 -Subparagraph c Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(3) Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 14, 17, 22, 26 falsefalse21false0us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterestus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1< /Id>truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5tru efalsefalse6970000069.7falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A5 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 29 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a falsefalse22false0us-gaap_NetIncomeLossAttributableToNoncontrollingInterestus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse3000000.3falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3true< IsRatio>falsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truef alsefalse3000000.3falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 falsefalse23false0us-gaap_ComprehensiveIncomeNetOfTaxus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsef alse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse7000000070.0falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ow nership interest in subsidiary equity which is not attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A5 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 30 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(3) Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 8, 9, 10, 11, 12, 13, 14 falsefalse24false0us-gaap_StockIssuedDuringPeriodValueNewIssuesus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse7930000079.3falsefalsefalsetruefalse5truefalsefalse7930000079.3falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryValue of new stock issued during the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 falsefalse25false0us-gaap_DividendsCommonStockus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse-56500000-56.5falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse-56500000-56.5falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 falsefalse26false0us-gaap_StockIssuedDuringPeriodValueEmployeeStockOwnershipPlanus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse96000009.6falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse96000009.6falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAggregate value of stock issued during the period as a result of employee stock ownership plan (ESOP).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 falsefalse27false0us-gaap_StockholdersEquityus-gaaptruecreditinstantNo definition available.falsefalsefalsetruefalsefalsefalsefalsetruefalseperiodendlabelinstant2009-12-31T00:00:000001-01-0 1T00:00:001truefalsefalse385400000385.4falsefalsefalsetruefalse2truefalsefalse-24000000-24.0falsefalsefalsetruefalse3truefalsefalse-45300000-45.3falsefalsefalsetruefalse4truefalsefalse613400000613.4falsefalsefalsetruefalse5truefalsefalse929500000929.5falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryTotal of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attribu table to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A3 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 falsefalse28true0us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterestAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsetruefalse2falsefalsefalse00falsefalsefalsetruefalse3 falsefalsefalse00falsefalsefalsetruefalse4falsefalsefalse00falsefalsefalsetruefalse5falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse29false0us-gaap_ProfitLossus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse7480000074.8falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse7480000074.8falsefalsefalse< hasSegments>falsefalseMonetaryxbrli:monetaryItemTypemonetaryThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 5 -Subparagraph b Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 29 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) falsefalse30true0us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsetruefalse2falsefalsefalse00falsefalsefalsetruefalse3falsefalsefalse00falsefalsefalsetruefalse4falsefalsefalse00falsefalsefalsetruefalse5falsefalsef alse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse31false0us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTaxus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalselabel1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse8000000.8falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse8000000.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAppreciation or loss in value (before reclassification adjustment) of the total of unsold securities during the period being reported on, net of tax. Reclassification adjustments include: (1) the unrealized holding gain or loss, net of tax, at the date of the transfer for a debt security from the held-to-maturity category transferred into the available-for-sale category. Also includes the unrealized gain or loss at the date of transfer for a debt security from the available-for-sale category transferred into the held-to-maturity category; (2) the unrealized gains or losses realized upon the sale of securities, after tax; and (3) the unrealized gains or losses realized upon the write-down of securities, after tax.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 17, 22 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 13 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(3) Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 24 -Subparagraph b falsefalse32false0us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterestus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse7560000075.6falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A5 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 29 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a falsefalse33false0us-gaap_NetIncomeLossAttributableToNoncontrollingInterestus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1truefalsefalse5000000.5falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3true< IsRatio>falsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truef alsefalse5000000.5falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 falsefalse34false0us-gaap_ComprehensiveIncomeNetOfTaxus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsef alse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse7610000076.1falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryThe change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ow nership interest in subsidiary equity which is not attributable to the parent.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A5 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 30 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(3) Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 8, 9, 10, 11, 12, 13, 14 falsefalse35false0us-gaap_StockIssuedDuringPeriodValueNewIssuesus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse2270000022.7falsefalsefalsetruefalse5truefalsefalse2270000022.7falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryValue of new stock issued during the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 falsefalse36false0us-gaap_DividendsCommonStockus-gaaptruedebitdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse-60800000-60.8falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse00falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse-60800000-60.8falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 falsefalse37false0us-gaap_StockIssuedDuringPeriodValueEmployeeStockOwnershipPlanus-gaaptruecreditdurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsefalse00falsefalsefalsetruefalse2truefalsefalse00falsefalsefalsetruefalse3truefalsefalse85000008.5falsefalsefalsetruefalse4truefalsefalse00falsefalsefalsetruefalse5truefalsefalse85000008.5falsefalsefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryAggregate value of stock issued during the period as a result of employee stock ownership plan (ESOP).Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 falsefalse38false0us-gaap_StockholdersEquityus-gaaptruecreditinstantNo definition available.falsefalsefalsetruefalsefalsefalsefalsetruefalseperiodendlabelinstant2010-12-31T00:00:000001-01-0 1T00:00:001truefalsefalse399900000399.9falsetruefalsetruefalse2truefalsefalse-23200000-23.2falsetruefalsetruefalse3truefalsefalse-36800000-36.8falsetruefalsetruefalse4truefalsefalse636100000636.1falsetruefalsetruefalse5truefalsefalse976000000976.0falsetruefalsefalsefalseMonetaryxbrli:monetaryItemTypemonetaryTotal of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A3 -Appendix A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 falsefalse538Consolidated Statement of Shareholders' Equity (USD $)HundredThousandsUnKnownUnKnownUnKnownfalsetrue XML 42 R23.xml IDEA: Quarterly Financial Data (Unaudited) 2.2.0.25falsefalse006180 - Disclosure - Quarterly Financial Data (Unaudited)truefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_QuarterlyFinancialInformationTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 18.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Quarterly Financial Data (Unaudited)</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align= "justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Information for any one quarterly period is not necessarily indicative of the results which may be expected for the year.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Quarter Ended</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Mar. 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jun. 30</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Sept. 30</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="11%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dec. 31</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bol d; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions Except Earnings Per Share</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: t imes new roman">2010</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Revenue</font& gt;</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$233.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$211.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$224.1</font></div></td><td style="BORDER-BOTTOM: bl ack 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$238.1</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$46.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid " valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$22.7</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align ="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$23.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$19.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div styl e="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$19.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.3</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Earnings Per Share of Common Stock</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </f ont></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" a lign="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.68</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.57</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.57</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZ E: 10pt; FONT-FAMILY: times new roman">$0.38</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Diluted</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.68</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY : times new roman">$0.57</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.56</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.38</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"></font>&#160; </div><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style ="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Revenue</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$199.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$164.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$178.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$216.0</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating Income</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RI GHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$15.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$25.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inlin e; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$33.8</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net Income Attributable to ALLETE</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$16.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: in line; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$16.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$18.7</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Earnings Pe r Share of Common Stock</font></div></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic</font></d iv></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.55</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.29</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.49</font></div></td><td style="BORDER-BOTTOM: black 2px soli d" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.56</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Diluted</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.55</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align ="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.29</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.49</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.56</font></div></td></tr></table></div>Note 18.Quarterly Financial Data (Unaudited)Inform ation for any one quarterly period is not necessarily indicative of the results which may be expected for thefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share dat a. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a falsefalse12Quarterly Financial Data (Unaudited)UnKnownUnKnownUnKnownUnKnownfalsetrue XML 43 defnref.xml IDEA: XBRL DOCUMENT No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. The difference between the sale price or salvage price and the book value of an asset that was sold or retired during the reporting period. This element refers to the gain (loss) and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. The net change during the reporting period in other current operating liabilities not otherwise defined in the taxonomy No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. XML 44 R21.xml IDEA: Employee Stock and Incentive Plans 2.2.0.25falsefalse006160 - Disclosure - Employee Stock and Incentive Planstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00026http://www.sec.gov/CIK0000066756duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli 0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0ale_NotesToFinancialStatementsAbstractalefalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 72pt"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note 16.</font></div></td><td><div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employee Stock and Incentive Plans</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MA RGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Employee Stock Ownership Plan.</font> We sponsor a leveraged ESOP within the RSOP. As of their date of hire, eligible employees may to contribute to the RSOP plan. In 1990, the ESOP issued a $75 million note (term not to exceed 25 years at 10.25 percent) to us as consideration for 2.8 million shares (1.9 million shares adjusted for stock splits) of our newly issued common stock. The note was refinanced in 2006 at 6 percent. We make annual contributions to the ESOP equal to the ESOP&#8217;s debt service less available dividends received by the ESOP. The majority of dividends received by the ESOP are used to pay debt service, with the balance distributed to participants. The ESOP shares were initially pledged as collateral for its debt. As the debt is repaid, shares are released from collateral and allocated to participants based on the proportion of debt service paid in the year. As shares are released from collateral, we report compensation expense equal to the current market price of the shares less dividends on allocated shares. Dividends on allocated ESOP shares are recorded as a reduction of retained earnings; available dividends on unallocated ESOP shares are recorded as a reduction of debt and accrued interest. ESOP compensation expense was $7.1 million in 2010 ($6.5 million in 2009; $10.1 million in 2008).</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">According to the accounting standards for stock compensation, unallocated ALLETE common stock currently held and purchased by the ESOP will be treated as unearned ESOP shares and not considered as outstanding for earnings per share computa tions. ESOP shares are included in earnings per share computations after they are allocated to participants.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" wid th="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: time s new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ESOP Shares</font></div></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor ="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Allocated</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.2</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.2pt" align="right"><font s tyle="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.0</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unallocated</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.9</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: t imes new roman">3.5</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.7</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.9</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value o f Unallocated Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 22.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$48.4</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$49.0</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 20.2pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$61.3</font></div></td>< /tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Stock-Based Compensation. </font><font style="DISPLAY: inline; FONT-STYLE: italic">Stock Incentive Plan. </font>Under our Executive Long-Term Incentive Compensation Plan (Executive Plan), share-based awards may be issued to key employees through a broad range of methods, including non-qualified and incentive stock options, performance shares, performance units, restricted stock, stock appreciation rights and other awards. There are 1.4 million shares of common stock reserved for issuance under the Executive Plan, with 0.7 million of these shares available for issuance as of December 31, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We had a Director Long-Term Stock Incentive Plan (Director Plan) which expired on January 1, 2006. No grants have been made since 2003 under the Director Plan. Approximately 2,586 options were outstanding under the Director Plan at December&#160;31, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We currently have the following types of share-based awards outstanding:</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; M ARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Non-Qualified Stock Options</font>. The options allow for the purchase of shares of common stock at a price equal to the market value of our common stock at the date of grant. Options become exercisable beginning one year after the grant date, with one-third vesting each year over three years. Options may be exercised up to ten years following the date of grant. In the case of qualified retirement, death or disability, options vest immediately and the period over which the options can be exercised is three years. Employees have up to three months to exercise vested options upon voluntary termination or involuntary termination without cause. All options are cancelled upon termination for cause. All options vest immediately upon retirement, death, disability or a change of control, as defined in the award agreement. We determine th e fair value of options using the Black-Scholes option-pricing model. The estimated fair value of options, including the effect of estimated forfeitures, is recognized as expense on the straight-line basis over the options&#8217; vesting periods, or the accelerated vesting period if the employee is retirement eligible.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No stock options were granted under our Executive Long-Term Incentive Compensation Plan in 2009 or 2010. The following assumptions were used in determining the fair value of stock options granted during 2008, under the Black-Scholes option-pricing model:</font></div><div>&#160;</div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpa dding="0" width="100%"><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 48.6pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="88%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Risk-Free Interest Rate</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; T EXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.8%</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="88%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected Life</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;5 Years</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="88%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; F ONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected Volatility</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20%</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="88%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dividend Growth Rate</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 39.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times ne w roman">4.4%</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the grant date. Expected volatility is estimated based on the historic volatility of our stock and the stock of our peer group companies. We utilize historical option exercise and employee pre-vesting termination data to estimate the option life. The dividend growth rate is based upon historical growth rates in our dividends.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&g t;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Performance Shares.</font> Under the performance share awards plan, the number of shares earned is contingent upon attaining specific market goals over a three-year performance period. Market goals are measured by total shareholder return relative to a group of peer companies. In the case of qualified retirement, death or disability during a performance period, a pro-rata portion of the award will be earned at the conclusion of the performance period based on the market goals achieved. In the case of termination of employment for any reason other than qualified retirement, death or disability, no award will be earned. If there is a change in control, a pro-rata portion of the award will be paid based on the greater of actual performance up to the date of the change in control or target performance. The fair value of these awards is determined by the probability of meeting the total shareholder return goals. Compensation cost is recognized over the three-year performance period based on our estimate of the number of shares which will be earned by the award recipients.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Restricted Stock Units.</font> Under the restricted stock units plan, shares vest monthly over a three year period. In the case of qualified retirement, death or disability, a pro-rata portion of the award will be earned. In the case of termination of employment for any other reason other than qualified retirement, death or disability, no award will be earned. If there is a change in control, a pro-rata portion of the award will be paid. The fair value of thes e awards is equal to the grant date fair value. Compensation cost is recognized over the three-year vesting period based on our estimate of the number of shares which will be earned by the award recipients.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Employee Stock Purchase Plan (ESPP).</font> Under our ESPP, eligible employees may purchase ALLETE common stock at a 5 percent discount from the market price. Because the discount is not greater than 5 percent, we are not required to apply fair value accounting to these awards.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">RSOP</font>. The RSOP is a contributory defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended, and qualifies as an employee stock ownership plan and profit sharing plan. The RSOP provides eligible employees an opportunity to save for retirement.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The following share-based compensation expense amounts were recognized in our consolidated statement of income for the periods presented.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="100%" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Share-Based Compensation Expense</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year Ended December 31</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" alig n="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inl ine; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Millions</font></div></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock Options</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARG IN-RIGHT: 11.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.1</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.3</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.15pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Performance Shares</fo nt></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.5</font></div></td><td valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.5</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.15pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.1</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="62%"><div style="DISPLAY: b lock; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Restricted Stock Units</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.6</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.3</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN- RIGHT: 17.15pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total Share-Based Compensation Expense</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 11.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.2</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT : 0pt; MARGIN-RIGHT: 16.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.1</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.15pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.8</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="62%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Income Tax Benefit</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN- RIGHT: 11.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.9</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="13%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 16.85pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.8</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 17.15pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.7</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There were no capitalized stock-based compensation costs at December 31, 2010, 2009, or 2008.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of December 31, 2010, the total unrecognized compensation cost for the performance share awards and restricted stock units not yet recognized in our consolidated statements of income was $1.5 million and $0.7 million, respectively. These amounts are expected to be recognized over a weighted-average period of 1.6 years for both performance share awards and restricted stock units.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0p t" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Non-Qualified Stock Options. </font>The following table presents information regarding our outstanding stock options as of December&#160;31, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="29%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="18%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="18%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="top" width="29%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-Average</font></div></td& gt;<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-Average</font></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-Average</font></div></td></tr><tr bgcolor="#cceeff"><td valign="top" width="29%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><div align="center"><font style="DISPL AY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="9%"><div align="center "><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="29%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bo ld; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="29%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></ td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="29%"><div st yle="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Outstanding as of January 1,</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">646,235</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$40.05</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">672,419</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.99</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">510,992</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.83</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="29%"><div style="DISPLAY: b lock; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic">(a)</font></font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">180,815</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.10</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="29%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercised</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">40,769</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$27.76</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inli ne; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,508</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$18.85</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16,627</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$25.56</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="29%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeited</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44,579</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$43.16</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DIS PLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">21,676</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$42.62</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,761</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.39</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="29%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Outstanding as of December 31,</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">560,887</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8. 1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$40.69</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">646,235</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$40.05</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-S IZE: 10pt; FONT-FAMILY: times new roman">672,419</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.99</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="29%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercisable as of December 31,</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SI ZE: 10pt; FONT-FAMILY: times new roman">523,491</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.76</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">512,743</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$37.34</font& gt;</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">406,894</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$34.48</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><tr valign="top"><td style="WIDTH: 22px"><div style="MARGIN-LEFT: 0pt; TEXT-IND ENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(a)</font></div></td><td width="1216"><div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Stock options have not been granted since 2008.</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cash received from non-qualified stock options exercised was $1.1 million in 2010. The weighted-average grant-date intrinsic value of options granted in 2008 was $6.18 for 2008 (none in 2010 or 2009). The intrinsic value of a stock award is the amount by which the fair value of the underlying stock exceeds the exercise price of the award. The total intrinsic value of options exercised was $0.3 million during 2010 ($0.1 million in 2009; $0.2 million in 2008).</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="top" width="68%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="32%" colspan="3"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Range of Exercise Price</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width ="68%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As of December 31, 2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$18.85 to $29.79</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$37.76 to $41.35</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$44.15 to $48.65</font></div></td></tr><tr bgcolor="#cceeff"><td valign="top" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options Outstanding and Exercisable:</font></div></td><td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>< ;/tr><tr bgcolor="white"><td valign="top" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number Outstanding and Exercisable</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44,738</font></div></td><td valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">296,770</font></div></td><td valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6p t" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">181,983</font></div></td></tr><tr bgcolor="#cceeff"><td valign="top" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted Average Remaining Contractual Life (Years)</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.5</font></div></td><td valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.4</font& gt;</div></td><td valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.5</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="68%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted Average Exercise Price</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$26.96</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$39.44</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="11%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 12.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$46.37</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Performance Shares.</font> The following table presents inf ormation regarding our non-vested performance shares as of December&#160;31, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="19%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td><td style="B ORDER-BOTTOM: black 2px solid" valign="bottom" width="19%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-</font></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center">< ;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-</font></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted-</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"& gt;Average</font></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font></div></td><td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="9%"><div align="cent er"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Grant Date</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Grant Date</font></div></td><td valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" wi dth="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Grant Date</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center">< ;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="9%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="28%"><div style="DISPLAY: block; MARGIN-LEFT: 0p t; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-vested as of January 1,</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">121,825</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$41.96</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">79,238</font>&l t;/div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$47.94</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">68,501</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$45.63</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="28%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RI GHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">49,302</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.44</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">69,800</font></div></td><td valign="top" align="rig ht" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.06</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">36,684</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$54.05</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="28%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: in line; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unearned Grant Award</font></div></td><td valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(22,909)</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$54.50</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(24,615)</font></div></td><td valign="top" align="right" width="10%"><div style="DI SPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$41.97</font></div></td><td valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(23,624)</font></div></td><td valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$42.80</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="28%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISP LAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeited</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(25,729)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$36.45</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"& gt;(2,598)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$38.78</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,323)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$50.87</font></div></td></tr><tr bgcol or="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="28%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-vested as of December 31,</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">122,489</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 6.7pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$38.15</font></div></td><td style="BORDER-BOTTOM : black 2px solid" valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">121,825</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$41.96</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="9%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">79,238</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" align="right" width="10%"><div s tyle="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$47.94</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Less than 0.1 million performance share were granted in February 2010 for the performance period ending in 2012. The ultimate issuance is contingent upon the attainment of certain future market goals of ALLETE during the performance periods. The grant date fair value of the performance share awards was $1.2 million.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0p t" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No performance shares were awarded in February 2010 for the three year performance period ending in 2009, as performance targets were not met. However, in accordance with the accounting standards for stock compensation, no compensation expense previously recognized in connection with those grants will be reversed.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Less than 0.1 million performance shares were awarded in February 2011 for the three year performance period ending in 2010. The grant date fair value of the shares awarded was $1.6 million.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div><div style="DISPLAY: b lock; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Restricted Stock Units.</font> The following table presents information regarding our available restricted stock units as of December&#160;31, 2010.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"><tr bgcolor="#cceeff"><td valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="22%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010</font>< /div></td><td style="BORDER-BOTTOM: black 2px solid" valign="top" width="22%" colspan="2"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div></td></tr><tr bgcolor="white"><td valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted- Average</font></div></td><td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" wid th="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted- Average</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td><td valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Grant Date</font></div></td><td valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number of</font></div></td>& lt;td valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Grant Date</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="10%"><d iv align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%"><div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair Value</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available as of January 1,</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28,983</font></div&g t;</td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.41</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.9pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26,589</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$31.83</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30,465</font></div></td><td valign= "bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.9pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.41</font></div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Awarded</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,091)</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right" ><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.75</font></div></td><td valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td><td valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.9pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8211;</font></div></td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeite d</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8,678)</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.62</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,482)</font></div></td><td style="BORDER - -BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.9pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.41</font></div></td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="56%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available as of December 31,</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 5.55pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43,803</font></div></td><td style="BORDER-B OTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$30.61</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="10%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 8.1pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28,983</font></div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="right" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 4.9pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$29.41</font></div></td></tr></table></div><div style="DISPLAY: block; TEXT-INDENT: 0 pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Less than 0.1 million restricted stock units were granted in February 2010 for the vesting period ending in 2012. The grant date fair value of the restricted stock unit awards was $0.7 million.</font></div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Less than 0.05 million restricted stock units were awarded in 2010. The grant date fair value of the shares awarded was $0.1 million.</font></div>Note 16.Employee Stock and Incentive PlansEmployee Stock Ownership Plan. We sponsor a leveraged ESOP within the RSOP. As of their date of hire, eligiblefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 falsefalse12Employee Stock and Incentive PlansUnKnownUnKnownUnKnownUnKnownfalsetrue ZIP 45 0000066756-11-000029-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000066756-11-000029-xbrl.zip M4$L#!!0````(`'5`4#[PU5`,DBL!`+W:$0`0`!P`86QE+3(P,3`Q,C,Q+GAM M;%54"0`#+LM;32[+6TUU>`L``00E#@``!#D!``#L7>M3XSBV_[Y5^S]HV.XI MNBYQ8H>\@.XM(###+H^^P$S/W*W]X-A*HFG'SLAV@/GK[SF2G3A.@+QCC+9J MIX,M'TF_\]31Z^B?CSV'#"CWF>=^WM&UT@ZAKN79S.U\WOGE_KQ0W_GGEZ,? M"H6SYD_'M^PORG\[(.3"]0/3M2BQ/2OL43<@'>I2;@;4)JTG,BJ[%],F9:VB ME36]4/AR]-CB#H%Z7?_S3C<(^@?%XL/#@X:/-8]WBD:I5"ZRJ(H=6?+`8>[W M%XKCZY;I#XL_3I1_*(O2>J/1*(JWPZ(^FU80R.K%WZXN[ZPN[9F%='NP>C9' M^\U$+:;CT(!JEM>#LKI>,O1*DJP]*IFD62W*EW%1YGO[AEY[J0VR1/Q!Z!@Y?M,HE/1"61\VVJ'/-+JD&Z-B-F431.%9DN"7O_^-D".$_<`7 M@-[2-A%L.`B>^E"+SWI]!]$2S[J M%4>?Q82+8Y2/^I0SSQ[5`\SF01,4X`MTNHZ=+NE'Q='384'JVJ-BN@'8(&D[ M4>BHF"!^5(PZ^TS/];7W'#M'.ZCDPP?P2(KB`7WL.\QBP17MM:`BFT$Y:4HB MH3JX"Z!G^/79GR&T[]3K]3T7_O2/'YF_\R4N=DL#D[G4/C.Y"[;'EP2/BE/K M&;6L.-ZTK'+)R`F7CBTP]Z&#=OXFZ%*.Y3CM(K4!O0"_T:/Y8EPY)XQKTC;E MG-KX'DB8`1"YZYJP?,><"OPK._Y8E`E6UZ[,5O/ M&ROH>34GHKD%K[U!+M5RPJ5L>.T-,JZ>$\9EQFMOD'>-G/!NLUY[QV<-_^\#31H<8*.J1& MG0M*TRK`5X/);/%#C1$SQQ(U]-L*[D:61G1ZJ5"J%LJEI3JT_A'=7!U:GD-Y M&25MVG.O!/R\#(DRX+E7PH^\C(>RX;E7PI+U#Y5RY[E7@OOZ1W3S9*'1=\^0 MA1[U?/$LM)&7X=3F9U`WR:6\#+(R,8.Z2<;E92B6E1G4#?*NO/[A7$Z<\;88 ME*7A::FV?!A25L/3!;,WJP!?#4^SQ0\U/,T<2]3P=#NX;W]XFAAO@W\1TS7)I>>VY%_-6DK*!0B6(:&JA4TF6\Y'M9[#]P[ M<4!#2,3*6]Q)%F=+?G2"0ZCVQTYPB#\#L^50X@=/N,_M_.;ZOG!W\7]G!T0O M]8-#(AZ<'U]=7/Y^0.Y!:WUR31_(K=?_S M`:D9_6#X%GH2O[XZOOWIXKIP>79^?T!$Z^_/?KLO7%PWSZ[C)U&9VXN??I:/ MAH3:`%5,J7EQ]_7R&'K,7`>"H0B&;V?RJY;GV-&CF:'"6JZ]@)*&AI45L;:X MYF*"&\7`'O4[V<<(F#]"'Y3_:8.M?E$.9^U+,>"CGRAPT\HG6#GL2@O%>)*1 MP_ZW."G.26LQ,5F<`7.A/3]/TTQ"MFADC#'W7F`ZQ!=E`BQC0QGBA0$Z`516 M8OK$:\.GEG3/97V/X$!OCSS`FP_ZOK9/>LQQ:I@__,H/A5S^:O?[A M/_1JZ1`^'_V!$[2?A.B`,?*9C_NCH2X'Y6C4&#ND8"V"+G,)>'WR1$TNOG%! M9WS2-Y]0:#2R>TJ66^#LA%Q%QD((] M`H,:TC/_\#C$*TCXHJ;K2^F67_IAOP]%2-OC(*$]B"4L!LK7-R'$TLCQ!"R( M^0=]#,EJ0S->53")J-!/FYL/J#:@T7RB)PXU!T+#D6/E1#VQQHRZB4T.`9'= M#_6:5G^9E1JY<$>/\9$0'9L#:SY4*XEZHG9![:7$4_\)#(\E5)?3@>>(-D9- MCCF$N,.0`.`T.7.>2#L$F)&7_9!;71B!83?Q;Z-2(M]_)"Q64L2A1`A5?Z@GVP34SAGW`W(%#.R8'4I./-?VR:[XYQ/9]<'X MC/N_/=*BCO?P2<@J8!>UCWL6I?!EFWL]\<0WG6%K)5&4*1-U0#X<,\8]+P1E M'[(5WV-?]@`J/W2$^C'Y>!QJ"*FX]X"O`2E@2RP/"7%H40&T8P)$,(:PT?*G M3/$T?K\@II MYD>")E0"[8H\&\4!D\A1GP.AQ'W/ISX8Q3%?E+9R$P9RS.0%$Y7+!CT##%@- M0*W-'J%9#!T*!747S8'O*YK>(&"F<80B^LZ&D0?JFU$G],\0^@#_X?`I6"0Q MC'8M];C,`LYB4,: M&EO=R="T9P8RK$A&%PS#XO)86%S6RB/9C1^CW("6')(/M;+6(../R_!8;VB5 MU.-]?%S5RJG'E4,A16#RZUIU)-M=$&*S#!R(.D$[X#W8'O0!U M((KBS")@L%RAGW[8^B.*K*1_H6[LH'J1^T.1=C`9#8K+_L*N#\`1>Z$_U4U* MO4M^Z^),`A@0M]!F+L0:3.C_@,)O5!<0&&`O1RTB82`]_O#S/7AJ.:%0&%12 M:#LF7_TXG#!;PQ`!"@H_1UWXRF8^6A7L"K@X&OA2]2`,Z\@!!O$0,2)29@RL MC]*\5S1O]O@)^-@'#;%8'Q@]4J?0!0W#<1^8Y^D!5A3,P,<#X1G0J0I/">+Q MG0;R/8?@RZ<<>(8Q2QLDTWOP#S;)O@4R9H$`%,04(*^$\PN>-@=C.8\P?AW:Q6-A%S<' MIYY'."_BT/UV#@U/Y*"3%O6ARP*:M*=I)*,_'=H.-JOLHL85>/5I"`Y=NEZ3 M0Y0Y)/)-&<"Y4#F&$,0A>@4A,?050)))8S87)!_T"KF2`=X*\,BD-9H+CWVM M7OFXI,F9$L0IHZ.,#AJ=BC(Z:'3*)65T$GA4-+VTK-&9B',6#"R597H'P\:% M#=C^!I'+@YU;)+C*XXAP+MBJ6FDAO\X[$`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`4=YN>TZLD.>Q2AI*^M(JJ>M*)Y=# M1;G"]*9J(^T*U93"1#I*N<+E0-F^#YP;NW5J76(YXY1?8D=*2B>7V;N43_$K MJUF^=8:G[]4ABD.7E/(IY5-CP^VH7Z.15K^:DK1TU*[4;SE0E--+:5TUK77E M1:;;\RU@%:5URX&R?6^7K<7$+P\#Q7EWXTHYUP[P]R%_:FXP'\/`MZ298H^\ MTLS7IGF49N9DC)@MW;S[=BE0Q/]_G7KZY!)2EY6]+QENVK8]1<;&3C7-2"\F M66A33HX7YNIJJ?(2B"C[G[+_U&4>)[^X/AY!0FUQVZY/9.8P4D"5,E3)B\TD M+][I`.E7DS-QW$Z3]O`XHELZH"[HWBW%(ZWP;'=Y\%#D%_5&HT:.]\B)O)CU M--93@R0"8K7X>>JNEKJF%N0L`XKRG^FSENT0KU8V'5#>`76\OCB8/]9@J;=5 MK?)137^_L&I.8;(X)LJ5SJ"/0P^+1Z*/W&SD7E6*0YT\LD$9'7<.45!GE$I5 MY2.>#5%J6EV!L@0H6[C1\.T[DTOX#D\Z/)4W:YU'-VN1!:NZN__]$I[@L<3, M$A7LFI\F&3B;B"_'J)QIP@(300N>I9A/_*IKV7V@;$GR^I2@2SD9/]IWC^A: MZ>-8UJ:.#Z)\CI[*YY3G2<0J^Y!LOM.QZ+V'%Q`L M?9IWOL6K5E%W?C916HHOT9EOZ;!XIY826KR[-M:3=?FV<^BT!L[.;A162AKM[$K MP8:MRG'8@DKE\S!3(K6MXOF_<\'Q&CT'Z>) MQV+BL(0`C"7Z7L%JE+["B92I"<%G-2N&T="-L7Y'8*W@)K!Y>W*#^; MN`X+G\17@^&%6<-+Q.+;+/?PNP_U$NG)BRCPSOOH:FA37`V-[Z>M4B8VQ'$0 MP^'A8_)^6K$V!O<2[)$'TX]NC/.(O&M,7$`6!GY@RO4U('3<>X!?/C8+WSZ7 M^S73=]]@;:7&RQ=OJ5O^YC,@LY-,7G@B/CMG+D@7SO^>>@,*OX/4I6CD)N3$ MP5``[W\C-H0"Q.3<=#M4WA)H04$31,F"_D%K0#JM(25RX1*T8_(".KPH#MLB M1$)>QB:DSJ$!T$X^]<.^4`P0-8MR07Z6)K2'G4DT`2^BZWF@`7C'-V=6P`9T M^!X>_ADRCA?)75Z>W9^-3`O(?@]H"KHF$5?280,95'>.-]/9(BI"%9%YB]/H M`L5=D'A4"*E_\B(]RW2LT#'EU7-X$1W8;*'3#S"2$J6A!7TJF_9"1\4%>`Z, MP^`;T\7;_Z#U4"M!8YPFH[I=CJAHH-7.`+#[H40@0813HCY!\\$+')AWL`F>^*(47 M_`VHM$(V;9NA$Q#6)JX7$+EZUFQ#Z_!O!F`,39Z#5_CQ/<0*HG2K&Q&1'`*N M/$&0(*U3/^0^&#+3`3*N*>#SH3^6%+%HN8)&[KR>,$Y)'M<-O7;HOR!,<3&C M=&AQS_<+40^&S_7#T=6)@B,Q!L!,T5/W.0`PMXV6'02K'6$J+SOT1-8[$F,0 M_K&&Q;"#01:+-.1]C'B_)$AFRZ<<>B\)#*7_V5:!#%*'1A#>T\?@!&WN ME[__C9"C'PJ%IF>%HM/G4`B(?Z6<>38YA\=^H2"+V90=Q.5D,5E*%!)L!;*W MM`VQ4ZE4,JH[7\Y_/RJ^^-6P_C,W0&_VJ^>`4J.-.V<`WUC5LLBPA"PPM=IK M3U8[]8MAE:=>KP?,N0L`!W(!40"(?('@P*Q`:ON&5B7_0U92)NY$S`M14A9L MAA!/="0@OYI.2,'GB#<0(+A,]BJ$7NV`=%M@-!S_\TZALC/1:RCQI68TQ*\1 MTV>J*)]X5`"/1EGAD=`*PZBM#8]R!3Q9@=Q2M.SP_,SDKHA>_W,E3-Q_7\%A M[=]O0N;TG2\*W'6!6U7@KL\ZU-8$[NZ^5OE4(,<6N/\H/I?K#N"C/J==ZOH8 M4EZX%@:0,R*6(:*;$'Q#\2:SO%%ZDUG>&/5U\:8JN]RD;74=-A?T*M+SQ=SD'=X'@<+<&M8 M.L&5*/T3)O975CJ-EH@LQP)+&5>.2/[L.3@C@82QX3?NB/0Q9SZ\2O8>JKII MWYN/\^=:"]52"N!UM4WQ9-9\KU%7+,D02S#EG%&.S)*SFPW_#5+*)I=326_% MX-PQN*H8G&L&IY+_&6'PPLG*V7B52?+9E`^<@,ALN)M)/KY/,:EE-P+/)!O? MI93@K$Q6A62I//&,K,QV'=F4F=3TD!*7K-2147&I*W')9!W9%)?4-%E&Q.65 MZ8?9>+5V(MGD*$[5*8[FBJ-*1W/&49RDW"1'3[NXS0?WU)R:?E<>4XX_SOX, MV,%+#H'GJRV:_5FAUZ'&/D@.5%::*9_DSA= M(=DI?185*.^GG=J<56ZU!RBLY0D'\*9Z@&O:)A8*+MJ#_XTW[9/1X0Q-,S#) M[B^N&=H,/OZ4[M[PF^$G%V[;XSUAY8?;J:<*SYL_QZ9F)([UV.`Y-LFS-!8Y ML0.O#B-Z?>:C4$:_ECJT9MEFSR*>ZG27%9_NDM!F`K]@P/$$@VTZ.N"#].6) M",P7QVNXU**^;W(&;QB8%TL>CA&=,B2/@O"CTS7P0(T6)?013R"!.!7I8ZDG M:O*7A7/[1VFESPR;RP1M_A302C6#!P/.8Q"FG=$6&01RAJ?BK/^@NYB#^L=I MAWA%[F1SO;\")2%E_=WU^U^A"_V>YRCB?/3[CO:#=]GQ)K7F$?15GFV>2[-Y M)8_L\\G9HP4R-5J/^15LJ1@=S"%B,\A.UB[:4FU[JVU;[0UEN51N/"Y-J:]J M6Q;;MH4#T3.IX_/=1]07IR6ZG?BNVO7'?U-/]$Y'@RM+9N@U3=_8J=Y&N;RU M,]%S@J"NSWX%@D)P&H+&OK:!87N>$2S79T=P*[?NY,GOR'E*);!+".Q^56G\ M4@"6=6U;ERKF!,"*5E8`+N6U9Y=`-=!9\.:G:*_><2#7N(CIN,"+C\]7XKM, MR#37[8T*P#2`>F-KE^;E!D`U\EX*P/+L+OP=9,KG`F]RCDO<&978&**2YJIM M66S;&XDE]7JF]/W$])GUAKS-%/BV[6Y*6G7F^R\5@M,1K+REI(5",)<(EA>Y MQ3;;F?*,.9MH8X425.5NE+%\XPB^I11%)A%2-%'X^YC-?\#DR;97:8=D$[RSJKO,E$IEMWJS M,K62JO.TK>T'D`R*J`(!-BY2JG_]Z^X1@1M!B>`%!,!8VYFI%(%`A(>[AX=? M'J^,;5PNOZO*7CQL"$7%4/:DX*"G$DGVH^!PU*K21:U\%.SH@^UC\15Q_Y?U MU%&YBX=(O5.YBWMIS+XZK.?"'>W/[+514=E+Y:.@<%BRN,94@1, M$U`E+^[-@"I]=B\"C@Z?/G\>)XM*751SJ^;<*F-*EBR?I&K)B^4[;=JM?E\1 M<"\"=I3!O1\!>XJ`1>7B5,1)7K)CIGIIBZ7D4G70J(-&'315)N!.!TTV;'@$ MPK\=,'Z(O?\/Q[1]ZZ7Y[9E:I%MLZKOF5/ML3$W+]%_6VK5,%VP66.S;7+Q( M[_WFT\.WEF'[G@+?+R_X?J]JV/MOL.?!Y.<-57(VL/N?'-/[K>PEPA2#^*G/$(7S(\:H[#IM0( M3^OJ#0U10W]Z=1,/O"D[Z)T2(^Z++W7ZI_:X[;^$RJ]`[QS)*(E+?^$8Z'2D MH]S?,_?)G!:0T50?ANC6D2$NI]-@&7`U_XFM7`86)EJ6BC&V9XQ>'1GCRK$] MWPVFU+'GN^/^@5KCUG4>7>9YBCO._!SYD_9-VH2'=J[&;VU9%E&)3/%#==#( M(4Z9U"F!D&3-2R_KQ,HZK[B)4:J)E99@O9).K+0$._G$#HLH5\C!<-0<#<=[ M9I:E_6:;OI8GM[+L7/>ZQ_]81I'>:0V*0^-N#UMYHG8EMG&WV[5CW8#[K7Z! M=8?]\]JT8]U."Q6UG*"O55&.I;XCYJ+!J,R5J)6W$JZ,U?_7:7>.6#I0-DDY M:'Y!':P-3KI11]=_5MZW71FA!@:,XH,#\$$=;")=/V8GEIJ3PU+*LA=,?F=3'_%OZ/DGYGHH[/BXH4V=Y=+T?08_V-KS MPIPN<`Z8OOS]]O9&3+[!W\1\%;E(ERUA1I@6W4D0(#F!AK8PGIC&_AT8%KRR M'((&XZ4C]?2K@WX/`P2>-H2-D];N-9UTCK.2_@P%QL M>-F$%4]@JRGS#E:W,E[DDR+7VI,8#4X(0S=U//S2-W@N_'5FNDB@Z"'V8\5L MCV51U,2<[ZD5S.";L"-K[R`9<1)3V!`4).S,]#CT M$?Y!#`KONDY@SXCB[!%^:8"H./"O9],'NL,S;C3DU!%K>V)>`[;#IBE:\-]$ M>\J!=]PFSWH/J-S%9%XKTC)B?5/X*J,$^7"=1"^:E,MB:X7=1D;U^'2>#/<% MG\O,G-]0IS`F+?RYAEV:T4Y\MXU'6^LR8^5/X"_Z06<@S!^JPO_QY M[>%P<+H-(5X(R,$"]A)W52!5-;5A#PYD[?_5#O10NDPI\2Q_]"OSO\T?C!\W MQ,]`ZUO'17Z)HV8].%\=&Q?K.A8HRL<;5&*P\QKP`U]]`*M_1YII">O_Z[MF M_]T:=>")7_J]/OU7M$$'GI(B<[O_[I?!>*C(?%PRHZP/^X,RD+G;;[=Z3>V. MH7F`Y6`2H>C__$HE1?_W+>H>?X!2;5U;?_>+VK.*[=E`[5G5]JPS//V>7?1: M_0]-+5Z>\XU,W,SGM]V',HU:JBUO=]26G]N6*RD_MRWOC$JPY0-.QT]LSEP7 MB(C/P4/*`]I=Q0%GS@%*!YPY!W3&I^>` MWD!O=9H)].6M]^%8[Y9JD]H]M4GEWR0E2>7?I&Z[D$VZ=9TI8S-/F[O.4KOQ MO,"PIQ2@_.+8C\T'YB[AY)CX:=K(]S[#:_*M;W-\!U_!-_+[M_4^C];$EOWV M9TJW$@R(Z+K>J\%*@`7U\2@=V\FQ$H$QJ[W=Q""]%OD&O$#/RY'B"^C$%]#) MYJE.2Q]'4]\P:DGF2YS3&E5GOFVD[ZBS_7R!=5;,]5\:&D>TPJC^];\#D5>N'2GH6/8\NE?"I&!_*.VFM!M->^4(Z9Z\@8@TXG0Q+?GOFU M[9O^B_:=65;S#QLS6NZ9X3GHST?I96X\X8`_C,_^+WQ4/LD?S!2P?S&/IQ^\ M^FK$L:B%0I5VA8DQ:W03UY!OMZ_NO[8X]HA_<<5]H)=P9?NEY;%V`P+)V08VQ3XS_WQN;G@[[ MR_*W=E!*@VYJ'=M]J2QK0$9KZJ.*+Z)-B]AO#2*4PM,-M2^F,1$YB7(%AL6R MQI3#Q=Z0@^3FIGY'K"'WMTJS#&2H?K?ZR\"4P_'>R[BQG^"?CAN;^&;VC#V< MGW6:W?2%^]4/%#Q#4C/#M[7,"6>(.J2STP0_.=.`CL&'EQ6+F^#R!_Q[]NG1 M;OXO;G+''TW;^[?!Q$*(=LLQ_'4+G_]*/VY><3N#:=`2[.@]?3SJ=<=QPS\V M8CB53!]<=G_<6&9F86_E\/?MDGJ<%JU7AE<4`U'GMUM%L1P)P8.T/7QXBFV3 M1%CZ$8_'MUOG]BKR'X/\6Z?I*O(?0P=MG8NW(_EW3HFKT6>.)SQ;)\^JW2OA M[BG9J_#N;9_2NNON[9505LMO'4\4M\Y.59M9_LU4DEF?S=P^9W3'S7PC%:VD M@QU/>+9._U3T/@B]%7\72N_MDS)C4.3>G7!->SA`CB%S_<\?5_@:7 M=D^[B<&[A+FJF0Y$LEHS/IS^3O29SXY[;R`DR3V;!BY%G.3G;FR8[[Z>[FXZ M+>G84SP$;7,[34I&]Z3?L0H4/\P-K&3;T*DH^Q_06"O9CG0K)QAY3K*2$;MW M&F)?&=Z""U2WN& M_R?V\J5_9;@$&?9/PPI83F,"='BGFTYOV.I#-:,$9F;W>NF\;7]]]NDR;.-4?.7"N+6:XLYX4Q.H7#7KF83(Q#Q$<0 M`^R0M)'.VE93G/5*Z!%N'GP)YYVF]H8W\" MVP?4:[QW]YIX47K=;Q+R-!P*+"@:",?AP\1'N3)6IF]8YG_8#`LSOLVYH.R0 M*-I+9SD>=$)5)Q%EJO;3N>2*1&N:/&WM'H=$<',UI^FU?V<(^,QFET_,-1[9 MUP`O6'#SP+NN]RWP/=\@F&)Z.;$V?1L)Z:Y)2*X/GFSN5#34J>C!.%]SUX3ROVSF\0<`\>I(W= MK&$+GYF>O#*\.J=O47,`W.=[\]$FUX_MH_/7"6R"8K]U0/%G5&?$'H^>E@^' MV.F9DB0:.\1Z/(3],2A\)-HPY.NZH$V997DK`SL`\)((^/?*F,WDOV43C7;[ M3^F>8MK$<6?,Q<=BC;SB+3C6&WA\O_GT\/>?M&$GUL4BUJUBM^X4VW>C^'[- MWYHXUFR7!A5?'9]I^F:H_+7&)?$U[M8<;-\IY^/7'9JWJ98FKY$__R;3:Y]Y M6P[#TN[#1A>W+EL9?"^3'*C=89R#@6'I\1X0IH>=04")84Q9]N?KM']^9HWP M7_K/\5\"+_$+L%$\^V\:"9@]H#JW^)UCZ2Y-;0)(ASA.;K$H7G##L/S@N5*%)(O#%\SYG/J"D.]7)#\ M,(:QQ!709`PJKFUH5E0;V8`'GY@=,#ZB;)+2`M'T>7\7+[#@;2"#A1U(X`,N MQ\WQ%PXL*)S1ZRI)">+.@G@/7`VL@OQQC66.L#<)4C]@:QEGN3+L%^RF(CC' ML#4&!V'`_3NP]UXT#*-AZ'J[@N,$V)LV>NH\VF;8Q6=F>E/+H=8T_L)U@L<% ML14VH9+M@K*%2`!5*'XX$C_<1BJ$,(AD2Z)UI?PMW;)H@]:C@"#MJ%!W7'-% MRA54'35<@O&6QN^."^I1]`@*5>X+-IT"'C1)=\#SJ!1<_)2)IMI4,.C$L`PZ M)7!8:G!D3+G^HIY2$\:`;RUS"1,56G6Z>8&*J0[&5!\##W[U/.V>\0,G@Y7" M^YN6LNCBMYX(:<(3(VEP^61P_0$N6%(J$&PJ\ID[(R<;';/(>X^!R?\""DB\ M*PXQ.'U;U!AUZGCPP+=A"[,,&QQIP M,S*BZ*`V$00@2V')#%)\0IU*=#CJ0Q8M7:K%"1S2C$P$_,32`27JN"*<1]"` MHF47?2LACS;S1>F_0@&N^7.L4]@S8TGUENB"2W[^048[_I8ZT=#8YO) M)`BW3K=P'NNTP=GW:?)1GSLY_8:F=^BG^.#1XO`S>IL>X%\+?VK%U)V^#UP36]F3J69%9*G$=\]^,R'YF@"#`4(P,4=%YDLX[ MN"B;X>D'=/6<2`@,S5NB+!#,2%EC(D&3>HR8<\DU2ZJ8=%V"Z$,N\9>#_J&V<8&]P%A7UR<*RQHQB.[VLH*2(Y6 M;&K.31)V9V[ZN$A8A\UM5OA*.)9B\+<8?$W/41/C+30=W<\%#IKGHQI[?"&O M#%W%Q6$K;@U+N/#[+'%,:W\P,)\0',IBD7(W[;EK\$@^7F',)=I>XG>T'['% M-'<]HL!X,6>\(4`IZO26#]D;C1*\9Y MBW$^!T!5(7]Q]QLYS_&"S"^X7."#%9Y`E@.VUF-H4,^X!4<'D_1WTZT<>U#[ MFH5&>ZJ7-]<+7!?A23_E3$6]P.G>+OS2,H@I#=WP>HX,RJ<$H\58NT%?73*? M-*SL;@Y3PX,?]!,Y$O%_DP^>]_B6MV)QT4ZPXXP],39A,@V\\H?Z4!(5;=98A^FF,V\*24(R@\F`5NEG-6YJYS,#4XS8[HP_CKIBCEVQ M32<@ARQ6[@@;?0HW`_2@\3G>*HZW"-*ZC&I&S'V M`ASVR)EJ[J'U`9L_!V[$!Y$+B+'A@ARXMN0WVOGD8_@AV#PV0PL!K[(BAD*L MZH3>NBMT"$Y/\3D9?3-AG4-@842-E M`-(_998XL4,?//E&N?L$0\)Q94M?Q\?Y?^%TX])"JC'*#TP\>**ESM(_T,C8?CXQ@]AU0*+8K>4 M:'0IKTQD_GHXJH.KG,%$ISZ8X<)+&_\:F\-F^3*PZF81(*#2.]2?\2F+L211 MXF_*;1%>DI5P+[O,,C"0+'0XWW*TJ\7C>#K@_-&!FR"(Z_R.\=@-'N]8<)ER MY@QWQJ-RL2G1^C+G&MZ*^5`4K4VO7!SL,DB+0\P#L@MCYZ#8;^$:#^D3_Q;P MW6PKHBRI1`"4&>@BAA:BB#6BWC7=:;#$A7(OZ,PD3SP9,+0?HL(D(F]Z%DO0 MXK;C:Q.N*3']<()'/^I"TQ4F+L6IQ1-<>@41:+YL)@WK\$&#JN7"=8-(2W+- M8A+>`&/*\P2MX$FTB.-7N6'YMM^O;>NTV)+OJ@ M7=Q>%YP1=H^^%CI-$NE%&,Y&RGY&X_J&,U3FF.3\8J M:4*2O,>-GFQ6V3IE,(..@G3=SI\P)Q=W#7[L'D+G92TFDFQM? MP)U$,45:?WP*$Y7.A`\RU(.8VL=O=Y^N[YH?OST\?/L5]]:8_J%U5C\T$J%W MY\LP_V*&JUW;:`Y^@ELQ%JQH73T'O^Q(8*GI]21-DUGLQ9$!PQYGN.CVN+A% MMTNSZ-&VB\Y[W"S-VV_1%< MV;,UGSF.1O>M88;5T.A9$3`G<%]3$J(DI.#+BCXJE8"$S"93K_5V=/B+?!4+YW6HB*$!XK170AUY;(Y@9_(.#+^[7U_V-(; MVOM!:TA>^/CS25 MC#;%*-+40E,.6OUCN092WI"X9CRYV?R*>TK-+6UFEYGSOZ;QYM'8AVTA_H#HT60!_ M:[Q0!@"F8XG[NG8I$N0I#42D^[\T-(2F]$GF,!V%,K^J9),59W@,MS<\RD"8 M`HW53J^E*VLUDS8Z7#C5O7Y'ZEU^_NW35<(5R9$\JR2&Q;%:;WL/4AD(4YQ^ MZBNGXP9'=:M[Z*OTB5-YRJ;`>&UEHG=+B*D2Y:K?8CL4>`!-L1R@.2L(ZJ-8=./$4B*#A%E8.`!<5?1:;'!L`]_7HSQ;% M`YFQH1SHMP>H:\D[Y4\!%1=/'#O`VK:5RZ8F+PVD.FY/8JC@479/""V.ET*]T"]W+"ITB5YKCQNB>C$J;?*-'[)85$"T M+8T9(:"$G\$7L;0P%0:4C_"R5JR2PB)5@Q[7OG[[(C'8#(_C#/V'%T6&]5VF MKTU0KQF/B#5$1>B.J[TPP_5"J1_^C!,DH1(`:7+=L<(U1#35PF(X?`@7900S M\PW8-`4C7%B]5NA0NR/V00JG*K7")]SP"8%N(@!L1;UAHN*5H/-P_VU>BQ\B M$\R<8.+/`RN$LN0%E-%#<>A`K*I-UNGR0L%P'A'RA0%'@9>"JR;`.2$HR[,C:GON!S&MX$BAG.3 M\+\-4!J(@Q96B'.8"%N*,TJ5Y2#.8:&UWCL*CCR6J%/,5I3%?K4K(PA;Q9"%0[J M7'1Z7##ML#2I#EE"=D7*?`[RG2!AJ)27^GS7*P<3M0]QR:H$ZQ8F M]J-^+C.Y$L0K4NZ'[>TKVD\"^U5]T4_4,"N1W]\\[:JC?A_Z]8;;9TVKLW[G MLS[CE$]CK]2-BXOSCHW'N4JV*D&]0IUHNC[:R8MVP%RTXM&DRYF)=N78&'AV MPURO*^J;H=V9WA^IE+3/89]DDWJ%B`XAB%3O!1."]`]D-]=H3-[+@`_JPJ`< M@)PG.$;]](SU=+?UYIV\"9KLPDB=&AT@C_;%.8JWJI2#N6%'4,\%NM7 MXZ.J9#,-J^FZVI*'.;&O12P]I,&S.B_>CUN#S$\35G(IKF M6`BT[_+&;=A6S7']J(=F--6&-@E\V2^7MS$0U*-N"**#+C6 M=H$#UC,>6:S%$NVD@/.:!:K9^;&$]@OVSWO`_GE<)EF7#P; M8S;1K@(1"QWBFGACB5@G2VH6$G*PS%U>B6)O:H310!EV`Q8U6@4I`0'_@_FB M=9-H%&OSWB,Y4E6_,]&NFOKOV;PW2]9J)J+?>HC!*+-C,=<4LTIC2:RB1BJK MJT74$"RQ8KE<$#;^^_H;(45,3W1&6!@\3W=]NF%S+G?&NR%1*JML=#S&%&,-ZN`1V"C-Q+I44T"BQQ.B M$ZV50-""I6CJS-.NJ>DM6V#YX%-817"!KWYH2,$%)FMIOT6?$`.3.4!'"HW$ M^9\MX;0SL!@CV9^3N@/Q3K+$Y8''.S.%>>'F##LY8NL[.EYX'QUL'\:%&^P( MKC-$GRDI]K(Q4(Q8J*)X;\D5F-O3%]%"4N2B9S2]C;V+G\A<3M1BAY^@V#D5 M9H*'*,T-]!&70VIFA`I()K2+)7@+I`CO-^B#<,Z\L*)#M#*#5JY,8UGV M2GR+%U\DL@U;:*:K"K38+\3G=(AN;I/&=[,5PI^Z;.D\R;(A4XSUDA1R9#+X M_\@/CX++>;O&(G<[O-F6L[[AT-Z=W'Q;<'9FC.UR^"0V`#*=19G#N7%(@24/ MI6UVH3I\'"BX=J@,F0+,`97W7O:)'1)]KXR:.Q?-/@?,VN,$+SA<,"@2WKU3 MI5S)=JO;+XXTW=;6)UME,BA*)9:_&M1O7G2EIAY[^4SM:H3_"I3G;@[LPLK0 MKTBI[_;V%OISNT/MD$*QV\6Z&MQ:Y.D]:&_/K94A8*&'?'^XD[QOSI;(\NBI MA`CNX'T5P3KE\HV>787/,OGL6GPF[*A.CEL9!]T.T"<6HHDC9;6TZQ\KAO&` MP!6!"ID%X#4T#\A,P1.8#'P&1(BZ`\,OYA(AMOB_:"8\GX"O`N,-"R.P1-@W M:LOU,SR&T5T>R<378%0,.N&"^-,,IX-A1X-B3!AQG+6TOU'X";O%\R`1+-5V M["8&A"F*&88N7R>DB!H]+QB12CK'?=-%\HD8S;/I8?346SD>?OH[/NRR1T$\ MF7"QS0=?&;@FEP4AI.2@2T,7[LSHA1%XW!O14B;HD&8S&&X,[YI=^$$ MOX5!=QZMROHEMB<:81G++`T1U?.`F^&+AAV+Q8OU^3Q"[MC(S/QEW$2,/O-D MGBAX1F/,V"3Q,@<]"SP.,BJ#VB%5.2U#0/@9[X:(&3^^&_`4D16U1?3DQV6Z M2(S-B/SQ`&7$)Y'0$+J;#)=$*3TBKD9I#;&0/6Y/*#?(%G]WGAD,T*"G?[W] M[4I;P*L8&:<@3(1HY?GR8R^T4QZC:)QF42Z-F#5^!_.?/!&*MPCE"G'@"-G- M%M&?.$P5-KY#`L1C>-W6Z_CY*JIWU(2:+X3C=PD:RM=NPLAN.LSW/11C'A<. M4`'`VQ:]C>%>5(5^G-VTA>FA(3D5NA]X?^T=BD>#I#+J&"IYSIAPP4*5AXRG ML2>24\SF6!CV(T7RM:GIPO&`&F5*?YAAO)SQ4+Q)LB4P!KFP@19_H=2T"8N^ M8_$\$PPN@Z#"NZ8G8M>D$?,JM'ADW!5J$U8/7+]&K);V#P'HQH^B`+[@8LX< M3W*8SS&W3`3V#;Q]3\-CCA(P^+92(!HNTG:4YC<7.8P.+N'J(>`?G M8XRXN,$3B3OI85(C>P3QQ)FFGH(IL*G!E><\P!-9IE"A#L1>-'-*HB-U&D][ M>'8":Q8='Z2XHT70\>+8%B@QD9:4VDX"?,SB)]SCV`:+T#*0&92XZ1'ID-WX M5*,)MK1?*;&/OB[!]G`\TWYR+(%U*4Z'J4D9B3@ST64G@WMQ*J`7/<\0>)Q) MC+XW9J-TWG%TWBA MQPT\_G@RCAP74UH,#KH*QH),TF&"CU\X(N3\)PF$OOF14A*OP,*$6X"X MH20VX#O7X2_I_,FX:9385LJ0$@FD$I@7\\XX#X!FD4^'Z91-#8? M>4/A!P:P=]8'M$?70&W4B&6IQA)%'7?.Z,9%EFG<@M,'<"-;KBSG!?["^!0%)3UCUA7E*[+"DZ1>8E':L!1K/=&I\6@O:8 MB4ZOP7T6(IC50?LL\Z%1NKGM`PY7T@,A%YD^L3G#Z("&>4_:Y0P_1U?%*\O` M.I#(J.ZWI!<<$^)_-7Q0+UYU^D(."RRL[K2/@-MX+,(,6L/B*L[[>\,V'A95 MK@XB3'>-4X7V:R"NH],E1M1`ID>E!I(IHVFX0Q+4@=T+E>#A0@_LT>D0Y&J@ M`]YW>COUFGT52&;-T?^:JS3C/Y4S]%0>):Z=OCIV4VJH+R8/0AZD.O+TE\8R MSTTY0I4C],P=H2?OQ:4#Y/5R8'*N485,8+6.AMJZNW>I6A3*'W**!, MYWAG1]UDEB<)WT4R%Y/:[?.Y50PC@[3]]O8W^I/3I4`1[?6V]Q2=[U5,Q2\* M%-5>]W2%W'60Z/$QCEP5PTC',`[E%:P$_Q9I3G<[O>UC<%4A8)%6=[?3/W!E M=[PXH1QU`M?VD^DZ-MJ[((LQR=M8=,(2;RQYO@^O\3`]Q!X/)&)Y"F^UA6TO MW`"Q6O#I['$25=E42FQ2<=/*=28<&)H0;#7+E.5+6!DZ8?B@*&@.,5JC`BR" M^`S?F!HV+ZXS/,>&05^BZH%&!-LLBTPMXYG7A/TP>0F5SZ8+&Q3\(R$"/Q!J MO2%7AO,W*%L*"Q:HF!8+"RV$FHU7[/'R["6;F:+N80XT\6F=CR[6LE'!7%BL MB[CT^%DJ4L2B9O9(0/]SK,&A`28,88"]""OW57);T4:OU?.NE[D#Q1-58+(J MF).%%_%-+<-<>O'Z,E,"^YLV\`0'^HZ0>DT7"SI<#JM\117JLBS8=U*SQ0HF M8VG:?*51V1)5^5G,L(,5+X9?8-DO#1"5]LF*DL`FR.]XQ9TH7O929XH+417`1U)3=UA9&Q"0OBQ$2BFHNS40 M`0%H[[)83=KO@6MZ()&R1#7L"]'0OB-_VY[)77=S-J-"1I=K/6K,(#6>G#>6ZQ+^_DR4J;M/""J-]>PFBATVE:":7QJHE;$:V5=# M+$O6SAI19N:4,C,YQO=/VH7^@4:C8F3>H2*JP\<2GU"V$8B*194$"@EJ>\"IN?`CAG#@/!I\3Y M8L-&K(T<+3V%J`#O>('!2SBI:(\&2S.%*K,\DE[ZS8:S$`XQQ,7X)`Y(VLM; M.-S-8(DJX1.;I)%I$H^NHD;B'6+$>`U257+J+V?G,"Q>V'ZQT_X9*,)`4?[!K)A*=X.Y1^&\6".A#QMQ*WFRYNF%1L'*T,K`5UC3F6M^7' M%''*-APBPLC#*S4^Q?4%V7O(YY'-9Z$CAEI\/:)TDA&K(8*!'_-(A-I&$YU. M/`;7;?BOB#-E*SFA!^4'A#4<:9"XMX7S/EHLOKBJ$]1':AXO:T><;-@E.M&1 MW<,SUP7SAU.F2Q0".QRC=TH5K)D\F5%9O'DG0,ZTRYFSPDV*88'<2]VK;@2' M$?'[AW]]@3$)'&\:DE]TO$O0N+6CSDCQK!P.SME_!+#)F)O)'D+G+1=!V?6/G]+"@R``(J6#5?R5@(+\%WF* MB0,9!H\W_Q,P+4([/,2Q8>!CGB,/>50W+B@*_.PSS#ET,,CAD_T(DQ,C1Z=! MG03E2$:9*"DI02'T< M5"SL;(@R.Q.A#&[VBZ;('&N5;H>R>^!_$EPN`0]).25FP2R3P@^,ZSUO"KP? MPSPCM2,_FS$W[N41KMZLY;$0W5`86"!:&-IAL[2J1`45$_;`!B.^S]532UNK M5)!ZZYFEU=;+:Q-6,G@L&;P/)A[C'7*OGS+@2T$T/K.)2QI\IY.=Q"!D5PFW M&YT5Z)?@BI?W\A0ON4[PN!!.$R^:H\`SC1P+@E&9.%#75'S\_*3H8,BJ`FR8 M&PBNY\OH,')LH8>KXNTC\?9GQ`O\)^(%'OGPD";.9@%!MI3LGH(R7#(#;8XP M?APS0Z0PB6@4^6%B5K$Q<0)_PU#RU%@3B-"JE=?O1);$/`$"3Y;H'&_X(@B) MWX-GOO"(FTY_ZX36-\]?B,)L;9#-I97._%S]^Z`-:ER[](%(6STG@I(WG M&'`*R#`50M@CP&B#*$]W!2[$<(KZEG#$3<(%K[D@###!$3R7NX/A[V$+7_2( MV;P'N1W@4;;!(N;SEG2)[U5<#PEVB?A);T3_70*[WN!&%[D_Y4[$UZ+,>Z5^ MMU"__S1#B<_.<9HY)['S[_AH,A2JI:U^\&X=&"@9Q8@L#6IE.#8AI(41Y) M`5,ZKL1CJ.,PVS]0*+D4S&3$B?1N.%R6@9_27%K1_H>-,OJ7/P=>\]$P5C_= M1TN.W(NWV+L=&.Z!_?`_HJC]\M__I6E_^9]FDUCQ1;MB"$6-S9MF[(?VO]A+ ML\D?F3'S)_Z,>(2>@`ZANZ!NV$]ZU/@3X8/\N(.':H-KO<&=T0DV>,`I$T*#QQL):??8J$?C'89N)2;ICCM0 M@0\5+=!=M=]GM=]*OL]JOSOCXO>[-]!;G295MR(UJ!W:;G0N9J2B1;"GMJ1L M6Z*DI&Q;TFT?:$NN*/R$Q0Z?P_SA*!TQ8U7XPJU(JOOX\AMH\1L[?#5Z,[_7 MMZ?WUCT@6WZM9,O!N(#>'F0XWBJZ'N"V3EOO[+\>>';*V$S4U]R(!!:,BL:E M*KTN^=9G>$F^\VW.W^!BF)O;.NVTO^W-CY1K$/BA)3-]BGQC_OSVC-ZG_>.V8'W>NG#9KT:O@VO$SOPBPL`^_O\95U MXBOK9'.CWAH.HD5M\XE2+8',MXHOH4U+Z.RX!`$1&8)Y";9;T]._^4(KAH]> MA[!?.378<+@F#1M'/]4\NF[QET`Q M77)D"^[LR\T&HS6[?)?OEF1!Q"^]88T6!(S5[Q]TARX%/AN!,Z171'^\Y>`Q M,I$T'TOI<-7C\, MGXFW,J4MCCAEY>K1EDZAS]6C+=4+2)L@YH6+C\7@G./XZNMPN=]O/CW\_2=M MV(F5),1*#W8K-2@.+$*T<-X>)CB^QN-W_LG&MT@SXD$Q>E4-RN[P-A*C$L4] M7=H:5J-@_83`;HI@+K]%M0@>>Z0Z"\)4PR(I":/+`2<1AMBC!T-PJ5]O?[L2 M)2S7=U>:J*NZO;_ZKLJ-CE5NA`4IM,_:E9$&F-2^V=I7A//$*O1.0Y08I>'4 M<'^I7//]2->6O)V7A`ZEG3;%)90J=PC)RY%8G@)/R..%+/'ZFP@;S>-`PE1\ M(\&<"=J5=W3R7CR?+1'!3((;->#I!:_W3Z"#BF)\_(67X$RH:(G0PM.@H?!) M&XR+!^-6OV0SB"`'#/@QM8N5ZYII3_R',.Q1E$U$747B`&[ M)E$81'4X530M#'AL*@"X/1.)&'$`;'\(8:;K/XO2+=-Z"6UH4V-%;(^PF@&4^(>@@KF>.#P4K_7ZHQ#G#4Q*+[:Z[>&>O@#`G022H,A M%A!A7Z4(T>!X%4ENH7J['[3-0+KW_7!-M!NTG4K=O:'NUC03\GI:,W'<(E1. MVK.+0&?`*V@8\A"%/''X?E"9^`8.Q'+$U)[UXGP(&]8=A=P1<>64>VAB?&1D MLQ@=F0U$;/@=U8?0C\"9,W&:K0 M/?SJ+(4,H;?6]H>^B]<(T^9%E1(Y+RDT''P>-%2D0[!.T:)OD?:FQQZ=N`XF MY#I>20V:/#$B4&$>H#LM7#?5RBJA.QJB!%ASS4N2,F"2[PL'-"-H1V%>)MM6 MIG@D4;UK.W;3F,\)V``&6L)->6JN$H>+T.=T`@RB)[C%:L:Q8%$<=3S"GI`E M)#P[/!("R+?2*+&@1F#NUDO3><8B#T]F/5L>6! M)+$:XQCV?.4D\G#DCM;U&MUR2=R`W=&D`>.[R3%+B;\I/\-`+%QI6GLLUA8A M,A$0QR"!0R]%V(L/0BT9#&LJD>P]KBK1;!-?%7,0,,384^,E!&3U>.,)`JID M8.;8XJS%/[R`/A/C14J$S,%&'&R)8V,8&IS:K!FLPLG((Q-F&5!["<\7X`PQ M,TJ\8WH1%J904]*8Q%F0^K2ITMHB."FR#T4[`+BZ&"999!&CB3'F#L+8X0)P ME!1I(Q*&,/\:+Z_G<^>@[K'Z>4/KT58EV'C M&X.T!UV?$V8-F4`-`1*5PB&+`Q6TQZU7/HPG>O+K1OKC0,Q-'U_[Y,9[DH!& M(;1(J0?`WAJ_96YQ/1!9!W#FDVD!$VOUPI<-;"'S&#/US/#JFFP_@A].$".F M"BY@1IW6*`)HCH_V3."4-$B#?WR<^1S(4YG(-Y+[8)?#CM^$2Z_Z.`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`:FCK9'%(,<&4G\]$_L-6N%G,DNL-HE4?($'TJAYYWO/$*+79YK> M;[U=CQ86KF%=VM9P\=NROF+7XMDUJTRHQ.R*"+5-0V*!2@A&Q)**T*%$333L)7DV8S2O#)7A0Q*D)_-;U05&*2/I.WA3D67_'.`"'B'!^< MPZZZ2Y(UC["\/F!W']S=018%Z@AFS"(5\/C^XU.8S.U_#?-U!_HO$B(N# MR0P'15R2\P-&[AO,O(KUN:"&XN+?1X6+2\<4.Z>.*99Y;D?R")T#KO5403@&=\LZQ%84\=&/:TA3WUH&`QA3WG:M`?QM597_Z+==E5]#D,?=3!?$BS MO`0Y@'7@XY/F`-:#@+OE`*J[>763?^O!MTKP5?*ORL,J5?+O`91JWBE+&RO, MG%IO1QEKBIZ57T6-9EV6Z`&^.$IEOB[0\G$CFB<#>.AMJ"D+9G$Y2T8 M\P^7U?27/P=>\]$P5C_=!A.@Q&^^.#,^F=[4__ MTK2__$\SM#D_PW-P`OT+VVE?PPH^P;/-)G]LQLR?Q'/\,7P*'OHDNZ>S'_X= MFX,HM-OMSN#=+\VFWFEV];_\^;4WPRE5UVZ^7O%O9[T8?O>CV`HC,SMOI#6U8:_3&FC_K_;ZD^-MG]3;6X\Y MA"3.WON@&Q>.!5K&NZ:NS5I@FYP``1#@';#KU%P:EO?7=\W^NS4"Z>UW MOXPZ0U!>\/\BAED?]GPIU'_WR[@S[BL*;:)01P<*#0=M1:%-%.H"A>#K@T-2 MJ-MOMWI-1(HQ!E]Y\+4?V5`0XNU;`CW5%[ MK':D-#LRP!WI]]2.E&5'.AW8D?%8R4AI=J2+.])O'U1&+GJM_H>F=CF=!LN` M%Y'PLLW>D6?,-S3GJP34A['*SVSVH/:5V MN72[/(1=[O34+M=ZESM=W.5N1^URG7>YB[O<.ZB+X&+`Z16&?W!!L!JJR]3N M%^AM_&AX\,.M=#+FV^GCC<^W^XCSYWN^P\@'U^&X[_W>02UDM?%5V/@1"7Q7 M;?R9;7RGA[;Y8*0V_LPVOHL;/SCL&=\;Z*U.$Q>UQ.7@4/EV=I\!:.OVF@'? MF\QW#ZYO@?K];N^@82I%_:VI/W[WRT#O'M3MI*B_]9'3!^IW!XKW3T+]+E`? MYIKC`G]C/S'/)WPJT]8N'Z[DE`R+_13]>&/?!Q//G)F&FYOCHT89&!SV(_ND( M\.L?*&YRN(%ZVJ@MS>1@+_7^KJ23/PL?T-I$DZ]_<3PO_[[JW?X:\=;'+6Y. MM)WMM8R,T\X)=[&SSF2OS(DG0$=M5M!;,`"9H'Y87JOO]4L M$&36P[LJIFNF9T`_BM]D!F9^>J1E/F/4@J9#A$F[1E^;SN5TZ@1XA]\P(_G[ MOC0:KB699(]F!A:P";9-%Y#^UM@8#HK$[")5_`!$$=F3S.X M/?;BI3U+/!HE!S_`_#YB[GVFRJQ\AOVPI+C8+4=L(XLB_+Y]Y=>NW6>$?P\<*<+Q(B]?'09!XQN)6&UO@4N M8;LV$?]5N[V]]+2%\<2T"6.VQD`4`PK+1LBS!E=J:*,\!N:,[OES!Z76-4F+ MF"C:<%G3&*;J`TNTM.^,#YI&F64F17N?Q<^VDS&*R4LN8&8-#3[SC%BR^,;, MX2^MO0$,"C^C<]EV.)#MR@75#7?0"6&_3_'F^',$2MN(E7.@8]KTZ$67\9[U M+>UAP0AE%ZM#$%S>H\$GY+D6!2%S8^I+)&Z<&0[`R>CX"U+`KF-I!'5M()8U MMU3H!1QKB0B^'G"3"=,S.#0V#LMX'075I]B:$_;RPM^-B>>X$]@[SX.A'(0+ MGS*3=HX0[CUM[CK+V#!AP??P9T\#>P\AA''W6AKR`()J@P"#F<5^K.@`X:C$ MA!],L_%H$Y`\E@FZ@,,5._3J#T0R-_`,$+.%*;B/+YJLH'E=VRDIWWK(-5RV M>P1T9MK'P/=I>Y*4UGXU;9MY8#UK7!^`+D#P=OKOE=0-AM0-<%0#MR:&Y&+Z MPV?V#/G5=8+'A=8!$T*["%7*AY9VXR,R]),YPR,AID^\8+6R7M`)*#@"6&8* ME(2[HHNXUL0_S&)3WS6G(6P]O.J:O'Z+>`G%VUM;"R+/,^;+U3@@8"#^,`23 MLBOT77Q!#9C>5P>1L#\9?^!84T>X()Y0Q-V5XY*$@:YY1D'7>OU^\]?O\)-A M->>H#[1'7`H7#+01M8O?X']_T&RLL[HBNZ:1^`0I$`T?0MDQ9K\;4X%^;ZR- M!1_%BK(76NP?X5JWG35H1P1!IRI75V"Z.N$?8#_B1&FE/D<; M@3M)T-T:_Y3CMET+P:G@$@E='B81<-S:.X:XH#$F<#+XH,S[?4IQ*/TLEB,=G.@3C#"?Q5 MX/-3A?]WXK'(D@@5",Z^W\8SB20#K0EJ)\&6ALGA].>R[-)WX?QL@%Z9_,ZF MX3E)NH+1D*$Y4WH&:I!(T8&>FKKF!&6-6X*U` M-6+):)*@8!&8EL-6C]!E+#=&;4 MJ,-FV@MHE]9;6R;+7+F]8W+%.V,37VK6AA;Z6TF`D;Z@VM$*:,"#*S`A3+Y` M_)4J9!GWR'(C#O\Q];<=DOZ=&%4.1DM,GC,.5M^Z#,\C.!8Z;5W79@%;[WTR M=98KRZ3AH_WPJ+%)*M04\3WO=)#XWL)`,<$!:3'`IYX/T\55P##ON\-Q:R#; M-<#@MAW(1^4AM;8$8&).'RZ!P!W4+^4'[(7/8"_>=\=A`PA8(C.F"\FM<]3C MN,5>@R\].FFQJ='G^$:0-A>M%\CNE<^2*89/PA$3B/#,U#("CV^$*&X6@L2+ MH?%4BSB/J^Z/7V_@1F=8#1K0"V,MLK5%_'B7`JGLNYSZ>DUX<3>29MEL_20% MB:!^'A2$Q<8:[_O]5B=DJHOW_6XKP6,8[OT9GAJTAI$T)'\??4#[!'@7+D-H MAZW964E5Z#I:\A3A0I28)2FC1O*"%%/O&6<"E_BV=A%[+)Q^OY_Z&T[Y)E:J M3ZU4C"7>2HDJ^18075=%=`OE'_$^DX3$V;W7]58[@[[PYX&V3M8MSA0Z(1+$ M(ULM[+-$UGK($)Q!Y#Q1`6&?E:7Q!S(%/`;W-F`\L![IUAFU;;)G](_/UW=7 M2E*/=1-+F=#W9'&$)D[J7G9CH^[\/;"GPIP0^Q7>R<3!P'[`>4XB#Y+QQS^U M3U<:HAYX2].C-GN+_HAH;$J-,/Z>F!^\KL-O.0%%A'%M,,_)X3+9FGU M0I:%-%%>D\OTJS,6OHI.+^O5E[E.03L`/20VV>*BEQ*S9[SG4J>O1/!M'[E@ MIM#,=JS(!6G&>3+:E#^27H[U9G@&P1]=9DB0[#B'(\-X4W,EKU'.=!JXX@#H MBH-RTRA\MH8%]XEH0GA!X0_ZQ.)QWLHXWTTP['R+W"3X=.@J$3-LT'$7N':# M?TSX7#)D#"050S`H76@T2]^<.(U!C=",X[/#93W#=2OT28#AJSCU2(?%=R0T MNNN2SO@;LAT&I*4P48X\V0DU[3\[,?O[60PC-ARN;?.Y";/"[H7WCUU>:\0U9:+]^_\#[J\9_ M@9]Z(_RI`?.;DOR\XA&[QLN/$;__HS73Z?-+$(T>^A.E.R!^-H*4)6?.??`R M!0"4+G=*PTUXBG?7!XH:\)A`VE\-@[J/N%)J5X>'IT6>:_JP<%N"0N'N.W&; MY]HA4([MHTG(WU]F8*JO>[1E*,F(^/Y7PS9]9V)H_!UR64_8HT&V^*^PD93U M2J[D'RO0L.1XO@36L,3].K)ATL9.8N1U6\;T9`-79!G.GV@JD)#0!3L>%.%V M@.`GST&G"/"1L/U@SO+AEO91VN_A^\3(Z5'$'Y&SZMJ#ZYW5N#)K0?^AB]+(YAX/.8VDLS=Z0B;A;_5 M)-5&)[[!+QZ1IU#X#LF+)K^U('D27T1/<&+F2=/W!=AOR?DXK2;3-*(FOK9C M8SQEB6X"$_1HZ)YXX`';*:TMYH8&;?QLN.A@=/]@?JC9?\NR"K<27FE^3RU5>Z'_]OH@%L"B&&W=&8[1JV=*`-^[9RN=W+EVRQS/Z]BS>,9GY M9O*R1[N-5R]^W2=_VP:E1N-_F\(?8/3.*-Z9^=OUO?C&U%ERGP)Z!_$_R9TI MV4F)]Y$R+1*!.3*&/K$G9CG4Y'J-Z+N# M<6L8>;]1(GN#?A/^P#+&<`-;Y!IDV7JDQ3X%5N`O8B)(T82`3%#*)XC=1=`G MD+BQ+WGV'H@@V:9"#NF#"=+##0GF]^@:,WX"KH10@YW(P[=$] M8?AH0FV1^YNK-2'T,-4M2)C0B\BX)OE$-\6/E5R^)9PE>=N;"1_',"*BV&7HU4OZE:*)(J?685+0NQ-L( M8VTXJ;@)D#G!OM9MM=?R.!SM2L3%]&"J<1K38 M]WI'#\]AW!6,MOJAF;-6F89Q`:$.(^^W=*:_ZHZ7A[/'&'G3A6;@TPT;G8-Z M>#0GO,4Y*DHSK$KRY/T"3UULA>[%F[H+`C5$($[[1V"]Q([PY#Q1[X3S@>&- MB65Z"YP4[ZK.YG,V)$C\:]/R0CL3LM&/S#5C2; M19B_PT/Z"4V1&@LF"_P.U(K^CDX4PW2EP8VIH*RQYC\*%Y+]N$-Y6AY)D[QD M1Z^@YH:[BZ&][\8":SQ'E*N=.6-D*_`I.3)M`E0Z=_2@T/T[,%>QU)(H'T&L M(]PV87K#\!XG&R4W1J'V`;=UC$=X`_=0!A6!7#`AIE#]8DB[WN]V/.4Z&K,?8S6\$(: MTFSX(%^-#"A21'F\-B8&/L>M[J8`,@9`8?;K\<_#JJ/:97#MJ(QX:L:=`?=[ MW,'[A;E:(=]=B>OH>@+^#A_9X'.C=!&1TAF3*C)HI.DNTH>B7[D?%Z>XYLCE M^4%D`QT+#N*12!]/)G;*Q&S#>GT.#6&PT6V`*T-2`@VA/)%G,8W< M"3SA@)XP_QG-Q-`VXHY"3&F3FH!KYJSD,')EXXNH!'JQE`$ZISOTYUC&0$-^ MH"M^Z457KZT^Z'%71I@_];Q@\N#0;$>J4IXXM#1F_(Y'5!/$-_GQ,0_0<.$4 MX)HPN@_Q!#/8"LHPP@%>,Z>B$-):MA)=EUY[-_"Y?16E"4L-369Z9H*3,GV. MI6V,U?\'5D5;>XA?8V[Y;2M=2I+A'3>`75T>4;7#4HYP4'*0\B1F;LNXF"SH M":6"AB[Z`B@%D`H2PD3QQ*6*M`AV@S`G`;$<&-ZB>O-%I@CP:I>Q]FR3"MP7GFGEV>E8L$^_]YF1\F1224-.B:WV'\ M8(4N&19>D.`E6<$R13>E,^/W4*Z\DOX9,4U8\C,EC'AT^B!3D+%*"D7X@V(C M)Q9QZ4F]%K*=H`Q7B.8,0_)S$Q-OTPR\-%[X='A&M2M3`[@'6PP3ZZ,X>6E* M1X3P:BNUE#N-/190"RDNXARPLRQC'W_BV6T@-0ZET_D@OI83A"(@+MF8WH2U MJ9L>XH+N.X\\.9N[+0RMTQT)CTZWUT>/3N3U"S\9C=T(E.'.1;6D\)NY.+Q.)*S]PP#3W>4A7<6; M;_%FF!!B1R[4I-?6-=$MA#W=,">0WWZ8BUT?DFP0]]YR/4[W3N$)GJ"*P5LL M7+*Q#AGM,/D]D6Q!0D'N79N1:X3S7NI-RA"$>PYI1YY\1!]RL1&%%;OWD)41 M?AX-BI"W0H4>!2#0:9VUJEA:%`7U#?Q0X-IA+SOAF.=Z&NN=;WA9)KE^7&H( M1[=*+%/FQ)41A,1W0JLJ3,C*]J'SW4!)PE')I4V?C"F8,&I.[C4;3$C1:2]) M2)YLP$,Q7CS=,7M>H8/>2QKAB0-'/MT(PRVRZ"E6TO/$Y11.8>LH4JI\7?SV M>9VH_!)]#C-HK=3C*SE+(,F3P$,#3Q:/Q1*.1*M,<;HF*^V6G-ZHW*1S;,Y` M=M'_Z/GD'D<7LH--)HW`7SBN0'NXDA8\EBW;`47H8/186TZ>E>;)\LTKBX&4 M7YJN=BFM=?ZG[P::N_1'_):'Z^7-IBHY`6*NP5IB3P20)?VF?1$R;H8 M.*S!JO4B>_<:\W!?L\+G#J@22[B^(G5*EUW+_(-1_L`&LH;EKAZ=]BO',RR/ M._:H4%)"3M!;6`W*2^(E!D,(O9!8(BP%5K`P5CR_P8T[W/!Z/'?`&FZ(M`5@ MBD9J>/*04`FE38Y`965L865(;B(*QD2*'PQ8:!!,L(C4-Y-EJA1TBFZU<()8 MYE2X+N+R%C$-9\T);!)#PP:XS(9;C.>A4,;15L*R M"7XJKQQB;<-*AL1Y1G66DI')>)@/X)K"H9_P)L5#`TF;14&,;,O"+GLRX6_9 M6T#F)N8QP;]0HY$'"WNSN`'Z-#?OG73QNY@10\$'GBL/ZFXB*I01YT:+O+)A M&@Y880%!PTM='$5<*1`=O@';CNR!/D('\4!>,#."LD=FL4I3:7%:QK,P]T0. MG,^F"]NQG$>3A7$C0ZXLD4#-R^Z!S3#H'OI:ES)BBJ(QD]7LY)^F=?(#!:W5 MI"&*G\6Q\">0(IYWC;@[_$1BU-?&>`*['PGU*K6M&,1ANEGUZSVI,32/WFZ/ M@)N0V"*ECI.(EX5/+<-<\N\*4QT_1+:\B=YW?ERX(@3O+TQWQIU!=.+3=226 M\)*NV8?_$X;T?=A$/R3H%`_Z8$5+XI,1)%@O3X2AR877):4` M#F^%;\Q(!5OM(''F9``)+\MA<$7&`4TXY."T>D&-LF#&$R:KBZ,2&1TM.A&9 M^,RM4^%#PK/(PD1<"C7,9MSD`QN3B9LAYY@=9IVZGVT(?V4&1/GE58HQ8F6@ MIL7;N.4\-[W`F@<(AP::R"5[HCF!DQ,D!ZU>,M128$:RU"J5]]B@,9/9ISP7 M$A1K_GGB!RG+9B7K55:.9?%@F\0VB[)PR!Q!/RRHLLF$@E83XU%;P!JD7P5+ M)+]^R\/BP_:??M;^>7WW<'-U^:5Y^>7F;U]_0@+1AOQ(IBLDE?VE+S)WN1U, MJC^UMICA1I40W'03901Q>TWZ%!)I".KN?Y0",!SE'DQM.';NR&Q9KY44^8^8 M;K0>@(@R?$$TT+V,O/]/TQ%V[,77;__\$/FJ$+F(";7AX8V0#GZ7).%)OA2& M4-;F!L/=WWU(6L_BV<3E%E65C.G@)SU-;_9()+X8'EC3'$&IP_V&,$,Q"P$5 MZ"$X<^30HJNE;_S!9&Z?E\@SQPB,'Z6RX%QXD]8`+?!"6?\IP`'I*.0GQ(I+>)G'+\>*N?4]F.<-] MQ5J_2V6X#-(3Y/!DD>2*6Y.R$;:X))"VMQ^-1WZNH-T8\`,S(C\*".9(NB*' M`BS/(!:C\9B\'.!)Y$L\SL#FUP$'-AJLZ*DO*Y#)#`Y?C7T1SCL3]QVKHM=% M'*\1L6LA&08<4"L\XU$RA&@A2PA.;$"]-#1/+#U"(+#`/IZ]D/C:'!LL\KC/0PL\ MYDU+)L5=VB]1>$#,@/!AUH[L:!K:,ZTH\F7Q1'>+Q>\#+Y'E'3J6UHL78>F( M,Q.6G?'24PHCP!^FC"''4$KO9HY`>`^\VL5`2YXSLZA"L7ND\F]6\@;5\`GRXEIQ#V@JS!!P=?N#V>%=I($P-D7-[")'!L9810\+X@BIL@05,#L M3C&SH]V/&PCTN/1R8"LI.\1%8B0NLQ?-1X(LOH8V'4TC8'XF\0UZ9 M:&+1,@/2B\2]ASM^L(0"\8!C`/<3U*Z3899>@RX=3#6&@T$I[#<4]H-@3-]Q_M!6P<2B/%11^"U" M^B%'D8*57GQ9/AX6IU.6J$S3PJ/6,O_#Q9G>BQ(9,(GF.MPUTJ)11GGX,619 MK'?B]6E1;0L:C:A4!(HI(1V&F6GBLT8\P<==.TT4(VQF!#2"$6[^A?EQ?'V) M,0LR)E%-0_<%9:#@?2JZ'48>M51Y,GFUA7;%?%@,=:$UB@R'][FX?2YQ_*G( M(!X-B]=)8A[.*]XCPZ?X&K?9&]J#`8^@"^OOACNA;)#0B%^?*;>A:0IO7`MD M#"#&R[@X;$WKS5]>/3>2=1?^@G1VA$7LI=''-UJZ"`@$&_-Q MX?,@B;)K"T-QY#M_1WGNL#%_-_[#$O3FQ[;(A1#Y\%1N^1^A.04#>%)NJ`)R M@KX0;AB%`B0B]J2#+^YO;KT/\N#G*CX\=Y,?P8-9UC?`O5F4 MB^YS+0M&QQ^>#*G"SS;YPC&8%@<_6E])(TPIHYH$FKZ`#/+(_05G/F)PA;EU M4IWHXT&'OJ>/AT-^!,3._=`V%WCU\B'J28)F\YS-CR95((^G-ZM(JTEJ(_R1S MQ%(Y-3C^,3W$-936V\#U@EC?DRQ.3-X+XHPQXW`KA)@(0H16;8@,@"AZ5`1B M:$N&:4>FMR2S><:6E#K)SX\PA.L["#+D46<)F1P8X>TEY_5(I9@Q++'V4*2! M7EV"Y#X9E-!+M=YSG_K'L)6/17DX25GP9)D12')*+P@KO:7]'0ZA)]X%@H+' M8@1Q\`N`(=%_AKPR`CG]^#<(./_AF(>]$/E>X?)Q?RB=5-Q/X7`#VC-Q9)*( MA#XF?GB'6=4XO%"7AG@RJ3FHT8<0;,\/9B]ALF8"MP.7EBVX/%SV%'+(2'KX MQ*#/COM'&@`$$>3\M&Y`+N&.BS6A%Y0U>",YRG"-,^4X1JLPIQ3_@CN+KW(* M8/0\=B(0Y@1%VBGH()S<'-X)MY1[W.)W:X2V$+#V=F031IA3_B*.'@H?Y_=] M,:,-H%FD-R/,>LJ`(@?-1G)3MI*T;ZA=C(GQ"WFZ/',>X>J&[SGL+?;99"5%Y7)4H='],I^-40]JR\,*+JX?X!8E^PIN"_,9Z-WJ);N@E0 MG.KBZ_7]WR_1!,+'KF4:P&\B#8"B9:D0(#==[L66ZWHG,^;6B$M#_-SP$.LY M+&!,S'(1SA(]':MHEO'B`6X":1B!?W1<4^2QIZ0\+4"D/$D*P^*I.!@1C!#E M!X$BML3B[K@^C0*6/`(C/:.\35/2Z3)A$D.5IU?!"J=_:#[C&5$3)GN`<0U' MC1CCIZE!HU"2?K`BY<'+XWC>?IA(&.8L$D0=.?)BI5;MM2X.#2BS,:\)0="RPHW\U?A!^`&7TX7)GL@NOA+':,PL3O)_R)LRMVLN MPU`O1'6>`R)S/`4S+!F8"Z)I%V?Q#6*42'6-HLS)2#EQ'.\(0P>X<@IM@/C$GPKFY> MY-`5"B39-29,?(R):$8V1BQI*4'VH\F7:MM62`KF;1A'Q9"[\-[/(OOK$JYP M>$ZA/OW?(E03FF(9B9<9!I*X9M!)L]6P8,1=7O[O^P\:HWR!Z(H@$-^%^ROY M%0HN"B>8Z,M&4(T$.L%>9+`QE9Z!+_J\VI&6R.%B"9`>>L<%C=PWTB:5[ MW:ES\TCGYC<*LG,.2AZ-,?GB^R0CU*-'@FX1B0V4U2?%\]& M)>-9J191[@/^Q#"JT%P@O_&\`&G[Q#C<8G@2K[@U,'1Z7$Y M-+"XY9'%LW/X)R]N?SU<@E*KGUCVAZ3@_P$KX358'#INXYR623*$EVJYF*D# M)_[KKP0V+P'FW=5?]3ZO^ZP7AG1#BYTZ(HVB*4>^@4;,\9(L,89)6L++DR!A M.`BAHGH1LV\#H4FUMV:@ABQ!9!;R^"3!7.*[RII6<;9CS$ MVO**+%8T\7C[KI5KB!+3:V#K)!XLE0;;%1;2N8GC*+*19<8AYUNH@9FB)G7H#88DUZ0&>L.GB.=?#P',]B3IC. M+I]:&R66/%JI:;]F^X87F>B4Y1WYT$!<1)C41\&\@IEN76%KXQ%M-V!F]T M&&:?Q?1T+-9G8?+?LZP92E1](,96Y'(3AYF\A?/Y\)H+,2MY&TI94\DK.-V^ MJ8D'97=DEC8VX#X.KTPH1RS65O0U14]W>CYS')VBUTIY;UE8E%WP`<ES)75-WEE\?J=*S+R4P="%DPP3W,C@UJ\*AK782X# M[V]-L;$PLQ]D>B7T*ND$@1#,H7\MGD22<,,G"GMC<#E82L3M/?3'H#N`@[YQ MYWHJ]25*[_BI2':2_^G3TL3`^3980WA%;T69_G]]U^;_7J%\B7\_FS-_\==W M>KO]IW!*OHL7%N(]WUE%?Y[).7R_^?3P]Y^T[B#&I2X*X+N,V>_!KO?QF_RH&[_39]_NTP3]LS^+5I*Q8Z46TFN$.9X)$*<4!#)'YG]=T<46 M_V??C?X3QU'_H2[]`@FJS%%&S8>M7##@ M&0V&*0>*@14#'XF!;T7#=*$Q*9?'?>*,&F%-<[]9W`X06$E4%1]52`IX>H]& MY&!0BGD5\QZ+>>_#W@<>H\PQO#O'L&YB8;XIIL;:L3`B!>,RM;+(M^9#B_<\ MGFSG)G#.%&LKUCX6:_/<1$;`$ECCD^+?6)W>P;GP[._]E`J'QA>V0>'%Q.C3 M>A'J@G`0IUBZXJ73C$'__.WO?^-EP/#U/WBFP:/E3-!OEKC((ZQ^XF*/[5[0 M-;I:O'B$D"C`"03>AVMZ?T@'8/@(_M$3GD"1BX1A21PE"E)&A<<[!_PAM**+S:^\GV-#^6Q).*OH"/PYAO/B M4P($3WV=4^V+L(O9#Q\]!F#V&F0R(()3U+K,D,44%!$*\VDQ!8,745-:+-7. M))/_)/PLS[4-H5^5D^MX.;$S"$HL8J!N;8A&VC^=D MM;7!&IQMQ]]C M@,V?,#1D.L*@O+B]__2!%]8*J+@4SS\8IL73'00,4.+?'SB7PB!_3CT8\907 M[_J-'8^\A6/-THFGO+@Z+@O\ZH>!MX3?PH^@A&.6LRCOFS'L$\.[G2V=&:V9 MI(FG+B"B`>G^V)OQ3`Q*V.!O2U?TAIJ(Q!$0HNQAZ:JQ5&+SEMA\%G?ZC)UL M1*@G,X?Q]&").VXL90%E_%U)_6]AX]_;")A=9@F3<91$@[A9*_'EY4CA,X(Q MB2F3&#P2^5WF^D1E3T:8PQABWB;PA\+V-%>7')^;X(<2*(T2Q=M&Y,=8Q7$: MP@XE(X0%B3,[-W8$=?@3R8AJ`L`][%4*OR3%+X'YSO'KB;KWGZ*9HE#%=R7J MOAQ#QX_EX'!!36$#9-1`77R\O'KX@`?UA-$RO(BX@EE>!/`^O9J8>3*I:\;F M!,,27W2TR'#Y5"TBJ2:EG_*W<.SP,:#ML-]`M$X?7X=5"B@=EX?`D8VH71V^ M13CN5T=+#\"M@>MSV)-(U8D-3!;/W`?`W-&0>]0*1#[Q'JP:`PIO+[9+@@D(4.(HH0U520^B`S6V9#)A)3:$Q\<4UT M>3(EMV2CR3POL-!\9:P(RI1@@!2EA`?H9H_UZP7!H$H"^,K#1F M2=)O%[V,;C?ZC,PK]:+N`-1#@"<-B5Y4X2^8[LXW6>;;B+06)C*),C_++](3 M%H>-XB,3F>)-3O$(2;8VQ:H#G@\*>@A?;W!\/MY>V\!475?V1I$M6J.(T1)K M4@7LE[) M#9/$^7=XESPS"8G$VD.!/2?F=!MI@+])F:(ATR!W: M^8T$K89XR/.E,N*='*,N0!+VER?RQ=R#O'Y?[7^125T.EG]Z"^W7J/':Y_`* M]4:2EP@],=[&`DQ.Z14"7&M.(@H(9'*T$GYVXK+_P M;X%!C\`&_(-8VF[/YFAI\*I1>VUXWN6"&:"SJ?U&"&/!O6)K"Y+D(7R)Y80C M.#K.3,Q24(PWO/1D::@5@MR+HH]8!U1>8DZR`E80U8MBFU#AHA>%K5Q5XYS% M>CB(!Z%^ZJ.-P,UQ]`:."\'A"R?(RCRESIQ1%R.YK-##M];=A1M<<2!<-)]0 ML\BFN+(*'L$V1$0B#G[N31=LR6(3`4*UM-L4,.I&G(\$QH8^YFM^`Y[\#:V6 M3-1VJ=Z9^_>]$.:.*A!?4WE*LQ6HV4"A!=A3-D#Y1?_C+<<&![6RR2DJ&(17 MR$OTY%@:ZUH#+'ZP$CP]1W$#?EO&O_MH>`*3G-290,TE'R!R##I4`VI.!GSU M'7MY@=JSN8>1#P?W`NX(X>)V__T+31?_Y[:5F'ED["'260CH@M_Z_NGK7?+* M1&+[`T-3LH5!U,HK@M.)NJ(E'F*\0:C0XI?^&A1'.T*--;3W[58_FJCLZ1XU M@>/%QPC(8V+S(R(Y?,P5&$+\FAIJ!FR=XO.4,]G#-^QD0%9E-&I/"/K4,`="5E,VIQ9$-N#B! M_#E@@/BR9Q@:>+PZ"*]^^!^1`12[4/`3EIPHF,X<11Y#Z&6NDZ+4/#]TR$3] MT>,S:<3O-3`KT5\!-P7W'V/D:((@E8H/>=?DN7'V]%BPW#););+6_]*?U45)]A MRSX)'DLP&F<]&FNP?LRO7!-]IE2)%^H;`5'("Z?)8T2Y-KP9:0R( M'=..\&27!A=&H7V1$CFE,!`V2A;M*4(<>EX"+[N*R^9C$@QV*4)/A`;+;8,H MY.9(W*'DF%Y,:H0Y@3>R'Q+*]/TX+MFXHC72*I&JDDA=A=ERGWA2#/D20CR+ M;Q&/I@[IFWC7&]%8!Z,>5]A7P8U&$#&?]YU![$3&O3=^--D/MESY#6V`''K&R;3-_E0O7F],(;Q:9Q>,L1XT7TE>8Z*,12@%G%W@CA\\A1`L2E M+M=/I-D$NP9_$)VQ:>6$SB-LA4?[T)#03$M0:]P$<@T,IZP7 M.@H'@A=-.4DTR@0G(T?8*.*B(_ZILBSQ4=) MS)A_/OX^T0NL#"LR)7%CQ+ZD(+D'#8[?'1,)*MV//3+DCZ18%[[KQ.^LO/$4 MQAU1*>)PEDC*H60T,VP\&)LKW4E)B?(Z8NFEEH5.R>WT$LN4W<@),Y>2$VA] M"W.%CPOD1\I#Y3S[RJT8WYQI@W$H7(F)TF9:0IHWJH^+V.O&VH?:8YZ&->YN M^8V->N)B-'C].Z(1+QU8(45$TBTA(`G$G!C#(->^UV-J+XLCWG6-*7=;)%Q%8(K7( MBPLB3RZ:"[FA7)%)&.+8W,7]#)T011S@/+9Z&[:FS#BG8^!Z>B.>DLU;,!A+ MB;DT8W-FSWA^$T4)GCT$L!*R6SPEN6)!MV@5$73NTU% MZ0W9X$&BXC>T+U^N&M&1B#(29HNC\>RZP4K4NZ&5[O*[K6P.QE5O:DQRG[D8 MN:PWD!V%N5R2$AQ.M>` M9R"P?K4#:#3CN[PMD!$7!L;2 ME4%8CN=)L-8$T.E$IL-@=IR#,1KIK8"_IW!RUN@G)FG,8/]X'I1T")%OF!#O M'#C5J M?RR%F']18MMA($?X(.'[:#EXQIRAL9)&AXHY)AN\M3+U9.`&.3=3A=+B6A0] MH$M4%'PB&%AZQ,YTU):4V_[Q?LJD%60[Y>P@I>CQB"5ZAFO3DKC:]!;:W'*> M0W!CV?$Q^D(#`?%BW;[#OLVN#-,(GZ;X%@*W\)(Q,KVQ^-7&2B_0OC.\=R.: M+A^7^G8DYVG,L(*+Q>:;S",)`W.;!?PO?PZ\YJ-AK'["N[[)NQA>VC/,'R;< M*<0L@,,<7,CRNLO__U?FO:7_VDV/X%^=?&B=6,3XM4#7%*ON9IM M-OE3\@OR4?XD/"B>^\BO#917?^,3)9]WNO_MEV.]4;=;M=[]T1Z,=9QT5$:`0_1KY M.--S_DVVY0C?$"/&W@'6_!86!.;GF.Z@/T@M(_=72[S2NW\*0[_21 M?K"%H8ZCGDV@P;3[A8&I3]\B!W-Z>?QQ>IH_''LVL1+]3=[3827]M`2]-O[I MYZPC6ZWIJOQSOH4S\I^(#/S*5+\Z\!0]E%.F@:[9DXM&+'Y62+FM9W7)72I8 M"HM]LM#(;X!Q)WH8IV<7_O#9<3\YP<2?!Y8<(1K@2KAKBWW)=ZZ?..L#CR@_/5L47%`@*, MWJ#7`HNW\F_6J)^V?PXSE=*NFO:S.S[RJF^B?M[I1<=^NK$_L8D/Y\ROAOL' MHY'YM^\Q\D#G$]K1W%7TP/N47V+25I8YG6FLB`NS--F+`I*15^HIN:'?P6T6 MF^?A8^%,MH28&796"5"9_:X M_I_8EJ2SV#+#8GA]C_HQF^';%).;.Y895E_+S%3T5@@/"^D6ZB2QGL]"01@* MII**XM%14:R/J;:>*&J422KD8PD?63"+G!9S;,[#EBO+>6$LZO-&U0#XO_"Y MYAPK#`V+)8JT"_4P[J`P?=ISC'VY>R%O31ZGCN6`LOQ_IE/&YO.X;I0J<^+X MOK,,.==B,HIC0AHVS9'=13!M%"NO_I M$**>-=O(?Z^MS[,:PQ:TG=4/ MC6*U[\Z7<="AHYV9PL`KCIYXR"D2[DG"]G@'ZTX=3=GD_)7' MJGF$3OQ[U6GE/B M;,C2;6UM?YR!YL\G=A)+)KJ=1EXZ;<&ZIF0[1F$>H]S'QZ@X-F%H MZIU!+@-#'($D_?5GWGG MN[%4GG?FD[7C"<@&##R*JM`[C$?&+EA4&SFU#,\SYP+-RULXKL_#G(;'`:/X M4[S$)6QJGC$'ZEW!9@B;096.4\-U7W`ZU'X>LZ!E25.?7M&/T]KGM1*S'42L M+!'(X:"$!L'>@9P#NMTDW3NG]JR6>6XGN*76DW%/%X'L),EY'C'#TBSZ5%&^ M6DK1H:)\)U>KI9W8(:-\I63!7$3[@B;JWV4RW#V&&SZR1],FH_DCASW8PP+) MOCEWCG1S[NBMS9TB#WUY'O:V]Y>5@3*]XBBC;Q\Y.?V1@#?U$@GDY4P"U,X" M5W32,9W93^H:4.]C`7O.J0=BOA3`[AWBDF$EV' MTV:LSII7A'O4T?6M^>;T)T[)1/V*8P&2>-_$L>_0-,P;CCXYZQ4FDCF,G#+0 MI3"1[+<&>XIBV5QO);,0/X5-@E,F(IS5''/F#FNMKGFMU;UCS8[OE*JOF.]P MPE2(C(5IA0N]-=XZL'CZ([KT3IIKCI*A/#2;J3;*EQMRGOA:7 M3!"QX/D!,P$^FQS[/H+A\+0+F]'Q:TC8#HJ(O6^W1AP@M]WJ?5#WYD)U0+?^Q%].V;FYBPC:#R3XX5V#XF7E\MC!6V M,-%U;6+8?V!/ABG'&:V"J[(W!8WO:C'&'8U"?L;$,V!!O-B39.%2&"W*M/E33_@,=N)_<5+"8/LE$*@\LS&/V7VE(C^ M@;FQV@4!SH-`\$9$KW*QXLH]N/(U-U6"ZJW-/6K?4%C(#^^[L:*:M/-+NWB/ M7H;-OQM97Z8&55]>_31R;NHDF+Q$AP'8?+,&=G]RJ6N-P&ZE;BD(?MKD7<&P M60./<%,G*#$W.S8]Y/&9`-V5S:2\5^@EVC/-6^(2)OV" M846235V+8%?_'>#OMN/'%PWG%]);]/:1"D&<#IM.1?RXA7(![FRDI8R:+%J.PJS/N, MPFAH@X3\E^#FL`"4AJ4./VC7L[!1#?)=U`5\&+40%I6FN):`]_]QGDD!RK9< MD3!3QZ'M;R*R6QOO4B;HV1Z+IJ+1<[X+F\E$F^,G`;I+U)ASB])/KG."/A*@ MQOJVP&<\4!/>W)C&>Z4:2SP!85ULQC^^?A*M,O96'*WR?B3:FO$;S_M1=`3* M9L_PVHK>2`PF[G?4S6^%RNJ']HAM[?@Y&ADAQAPI*)HZFF&C)=E5'0?#OO-+ MT3453ZL8O'IH+BC9/HQINM[X/(%N19D,&X&G=[5^-US`L)D9M^)([JC5Z3K6 M5AR]FIYW9U&[+^3QQ\"6Z2U8A'4=-GK,Q+PV1+D[]2B+3:=(/M_!]5=$I?D!@QJC_I^P$03. M$'[J9WD+]Q=R'6Y5_1.6^8:\^UE*<`2?<.B`TS9$[_2/Y+<_,:'WJ`1-%]=T M3UU1P32VB[#*?N\3*<^OW"4IPZ MPU:O,J31ARV],,JTCU"2N@/H[G:$Z1285GC1:?7R6"W;D69\+'$:%,@S>6#N M*^&V*4Y#;P]\=G(U5*R&[N9(0CTY:0K6T(57YR=I&U$/C]W(`R5>%@D4>#"5`F:C',3+,`3-Q:`K6XK3I=G;"[SE@>4&% MT>KC2+>E>]P5>.H8]F?YYB@W>X M#VTC3Z?/K;C;/;.BC+*(H6"-AT8Q_2\7\L/1;FQ$J*I98B+]>:WZN&D895SQL7,PRJAAKYSERF4+9GOF$Z:,3YWE MT5(Q*F?SJ(E5>V(5S+W8)"-5*&>I0[I%@1XU_1B!F3J09C>?K?)I'X(^QW*U M=L<%BI:^?1[3H6R8ZNKG:B5;%,=$@R,@G-:!,$H[*^V\7TB[!%D7-53C=4RT M*-!D&-8OSZ+@X[)V]"LT@?&BW=)KEV!1Z+ER,&RKL4P!AWU"MI M`S#&9M`W1!&YO+OGJ$%3R_`\$PQ*1%WX\8K# ME3RX!N;=<.3L3Z8G0)\>V`__(W+=+__]7YKVE_]I-B]GR$!$0`336ZVLEQC` MZBT&!A#^QYYIMX[GN\PW.=9<''=.F^$F-[5AK],:-)M\;+F"JV`96(9O/K'K M^9Q-_6_S&]M$'+#+F;-"%ODVO_]\>:_W1UH`/]RQ^5_?!>UV^YTV8U-S:5C> M7]\U^^\(9@QF3[]/V_C_WOW2U`?T7Q&]MO_:42C0[;=;O:9V1ZAOP`;7AHNL MZ&G_YU?BG/];&'7T$E+G`DS_#TWM+Q!=\R,A;MX:+QP@J7""=D4G#P<95]2[SET^S%$1"3H*K!5^]K\V?WSRVQS^0GTO MGQA_(S_;;)AW]O"EF#4R3/<5DI=YZL`NG79O]\E?&=Z"3_S;BKDS,\WG[Z8MR!W6\]'`W,&)KUUSB-(,`7DR\:#_[+B?!"[XI8`%S\]3>L8I ML''X$\R1\TG)YPA[GQ;,K:;XB8$9/S6YC;IAFHEG17`?0+LYB\1=F]Z1O1P['=X;2K>RK=C<`OM M=GJCU`0W#W_:Z>IH%73Z:5MLB^E&C2%00M/SPU_Q1_QM'U(.AVLW^NRA"YP7 MTFPP[J>W^(UY16XM-+@O'Z[24^.>K5^9OW!F,1]8?IJ-NVEENV'H@N>&=!N- MTN;"6W.[=<.[`%V+B377#P)XR)P);7.U*[=U1FEFRQRX\+DAY3J]]2/TM;E1 M(0FZ!3)-=?CC3_B$8R-DM#,W=K\'90]5X#SH*MP1Q#G];-!)&^K_-Z:35%;: MIX!IWTU_@84_-M.P$N4U!;8SG^O=M!1F#'O*22+#]SLYYGC''M'OY+@O&^ZD MT0/\][W.=[V=GMOFX8N?(FF+<7>'*?(^I'+'LF?)_[J[BNV.TU9D8L2BYD)$ MZJP9DMES">\44>\K[>(+]D.Z#'L\\?818]F>??QA;;)BD&@,O%GN2L?Q>&WJ MKXQ?UI7@+NCZ:*>E?&(N_(;>GC6^B'ZZL3W?#>B$OK1G?V>SQ\2-/2-,F'G, MB7!VF(Q0N8ZCPTXL8!\+S!^[XVB>8JVL6#PZ?S$K9?LTD?@B=\X7V'?:,=Y4 MZ1D'3L_X-IT:Z)6AMEK/3"/9P'8[CFRM!.?&+-P`^"54`1AR@V&,1^PO9&(O M0.S&%>^^LJ*FF5$',-GI*][Z,A8W,6(?\F(=SN(-C0S1[?+1IIYZXLR%N6.' M%1DL#VQJK^>M0%W.S:FV`$T5-IFAB;@F+-,TL$G:DOFQZ6"O(YQPTW>:?.+: MW`JF/N^RQQN]\;9I"_C!>99CQYMPHE%,[H=I(BQM\K"T8\NN9Y1B15%LF6GB M+5AB-I]XJS6>TO*,_=:P-9(?WR6<#28R9>]1@\X=ZJ!F.YH3^-A$;4;MVZ+G MPVW!9):U7!KJ_P3+HPP5&&0:;5BRT51L\^);1!T+]79\@QJRD:F@M&"1^-`I M`GL)ZM*T7E4%2K3]B'G:XU"RB7[8<_`9_N=EQ9(]$]Z4>-'WB/IWS=?W"&6? M6CLS]_&%VB'RIFK`^58PXVV@ISRS"A,/0!)F!K95M@T_<.&KC[S9\I0)#OG\ M<.>%#=IF,7T#\WC$%L_8.$DJ'?B?9\.=":63[,485S@;4[&H0=L/:AL-!Q`:+)NXB: MKH==Z(#P]`1-EN3'X/T7L[0#SCXF.^O=2+,%/]F_C>>^D=C*[G+O6^U>O!&I MRYZ8'82=L_EBSOL=[?04Q[SS$PJ#FRPE@03?Y0_B0:F MLOU+;/OW]K/]CP@>DVFV@0!MK9=P'!&>NI9`5#??U>EE2YUB%/F.-'O]OZ+>#EJ8_QH"*+PJ3;NKCM*2!8TK9RZC9+[Q@R+*&-X:-+3W M>FO((X)'ZB)7![N@G#`3S?!6H(F.*C(-6IW;D*_*8TD>MT1$N.:6+B^FCTZE>7A)ZR*RX:O!Q M:7T[BGPI\HVWC_=4AGQ%:M'.J-4_N+5_'O$R42]_V'A9?27U_;"_?7/Z\Z+, M8'R$/D!U4$_O^V5HY%)O-898%#]Q%#2LG7,L"RL`;Z@2U"-XJOM@XIDSTW#? M"EY6\;`M4,XOVCG.6D7`3`+6T'53H#YM[ZU-R^;9+9U8^-"34GXF"+@/@1LJWOSOH;I+HFF!ZPLCF(AZR.%6U?NNF(Q MQ'!0RN:(^U;C;-F"1A46ERF-=4=-5W-.3L/A'/_H./9A$2>H`/PHCI[%%.?6 MG(3;%^/NGN%8;[%6Y:+E.GNJQ7VY*!4KB$!S)T=!Q-FZOB_T'$G<9T>:$J5^ MU$A,CY!RJ!P);P3@.ZV.\FD71L&SO@?ND-[PEA,#3W/%O?N<99VN4@#[DK"W M6[U;MC-<%$/&.L>CLM7Q;2O/^D^6"X-]P5]Q7'^*\[3J=?1TTG" M6H"-%QZ6[)(P/K5C4DE<]LUGX00>')I*Z(J-+QP6B:*,)VPN\GT4 M/4*,S&8DAT\8/Y8L%WD7[+8;H\[A27,L\=2'!>9\]0;Z]B6GARSUJ;PD$DSQ MJU7HU\N5Y;PP)FY$+X,LO6.<>"=VU)9+2KGO2[OQO(#ND[>N\^@:R^,[-^HKRWJCW\]3RWY0 M`M9!Z@:6ZBKZNE/H\'"X=9#6;J?1'VU=^'I6I^_[?K>W?2GEZ:^< MI9)%JD%0;B%E)!?@%MK:77;JT[)M[QT246_8MK"B;XT+14>D[LMA. M^67W,&8'7>65W4,?=O;NGJF\LNM>V3Q=X\]'5KO]1J>C$A*R`8'A]KFU)^ST MM\]2R2*!ZRBO[$'/A<-KL#J(Z?[)>F=Z1U5>V3SU]9A,W M0!`7S"9NH%(RX-D9FS7XXR[S5G!IQWB5OV":*:>"EPK/L!CJL&"%/QOX*?C6 MH^'37P>M@;;DB`":1Y@F^%PQ+71LEOS45ERT-6)_Q9)@682[A?,+-704N_E>XZX(E-O!5 M2WN`9\2'Q/)@;)P9L0G2AZ_=F<^)3?%CR#P-;0ZJAQ01?0K^+S&E,9TZ[HRF M0DR(Q\H1(]\=5I:M]MMZKWA>-#G2^!$P2T5 MBUD:+]JDG-,>MCNC\>LH94KQ\B$-S9S]]1W!*BU`LR*NG0T[D?R3?/A_FLWK MS[=@`(@?FLV0',8>FOPR`"7G$AYV'"HKIS'Y@-H5>1>$`!\`)F?V1YG8X*H M;L&O:_H8_QW8/I\W#$H?1J6^OO(&_5U:%?V0J\5*D;M7,HSXVFG/?DRM`&60 MGQBP%?#,*O#Y5.&55X@_85,C$++(OPO#,7<*6P)F@SF%;](WX/P`R49#!A0# M'3-/S#4>&1Q?[A]D8N"SG/Z(Z,M@:;!`^$\3E@Z,`>;=LQ-8,SSK8!?,)DT* M"7O17C?B4NLB,L$!CZ/'GR8+H#WZ\*;@TW_6H+E5EK-B,"QAA\-]8;[NV-2Q MIZ9EADS\,=0EGS@[[^%++TT7CU?FII=X;NU3S^V@3>/K*#^[0_-67USJ`W;X M29R1!]B[LHKLD3NIUU&V_X4>J^N$QTJUS]N7J&1>%$?#6JJKG;IO[4G(6H+< MYK1PE37T!CTE:##<]Z=LY4=&D7:YQ-MZW;L5JKO$00R3#4N(BTSIR*O8LEYL MJ93ZC@V/E8">I[SR?1+0SSZC\?G#Y'2V,K*^?4_C3/"5/`TQ/R=J$Z M'[74[6W?5N.LM%)[^\S1L])&P##[*J.SM9PB=]#N70;/1S6][[0Z^UR\ZJN; ME,7T)N=L7_6_J\6DG'+*YZ!\#J=TR^V%3:1$I)XB64VZU"4-^^0EB9 MF,K$W(USSN`T5VZY`W=]46XYI9>.S#C*@E+.N9W//[TU4M"P2D,=F7-4SISR M/2C?0R6=<_NTAE$"4D\!.=L;KW+/[60JC#JMP[>X44;F&1B9>3BG]J>Y[4?0&BJZ]YW6*(^F.R@!ZZ`0=S/3#DK& M.NC/7'SX)H[O7_X<>,U'PUC]),%K0'F0[GA@/_R/2)!?_ON_-.TO_]-LWK%9 M,.4H::!7(KBV3VSB-YO\,3G:'5L9+PACZ'V;XY/X(#ZG!;;IW['Y7]\%[7;[ MG39C4W-I6-Y?WS7[[[0IK`@^2[]/X??.X-TO0[U-_R^:Z::Q3SC1=O_=+V.] M`O-LO_NETQGFG>C?$%(6#Q&!"WPIT66;<\=M$EIP!$.1GGGX\&?'Q0&B)__F M.IYWQT!J_L-F^(TO\&_T#N1FDMAB\G^N&LM$%CN'90*'-@>]%(?NL5H.8;<. MS96VC=(+3>M#/DY\+9WX6CK9C(EI^YMU+(U9@IDB;V$DJ@(S104&!^"V,WUP M?,/2OB$ZIO0Y7ES_0$Q1]B$]NZ^.[:P88N;:C_Q9\61^?=34!VDENW'T4\X5 M-[ZI]_J5F"ML?6^0>Z;_-*R`XUDBC.7_#D!3S%\0*?:2@\9Z$D69N4_KZNY^ MNH!#VF+?YN$XE_8L&D4.\LGTII;C!3&[*9,Q#FYZ;KQ3[H*\7):V*WDB;H=! M7-[E*Y(WM)N;=7M\DW&^R[840[`$[/8.TR\:@[L:3+(IHJ4(?*"OY-/O2E`K M,_W0"51N='`Q1+=WZC2#[5(@ZH/7&+9;VZ?QL*30Z$]H<"*OV'COJ!^U+H'I MR=5T`&+5DIT^AY>1*IQ:^Q>S1M-&=LK\,%-'-LW#Z7"T,]_$0 M73!J21UR!RGMF4T<[!.D:+.A<0;$>K*+,\>0@^GD MTD7%_FT!U7]BW]QAWT&D[:MO[AW]]@;^8/BQ@2B->&!^V M]_:I#=HBJ3"'QCUD&GG\'"Y-0N:ANF,LKPF0R3+5J,2=<4KT.XZN5(O^(IW<$M= MG7;G<-KIZK3;I&J.WCU.7?'4%:]@2[0>IUU;G7;JM#L7^A1[Z/6.?\4K4YE! M:8.DE8Q[EWAJ9=[1T\_MU!9LZ;PU>EMY:XJ\0IW<3"O86U,=PU[9K^6Q7Y6W MYGC>F@)C$\I?4]?S;NO;T\G5>L'^FGT:@:GSKE025>1YIQU!I.IRX&TM4J>^ MW)6LI.,3FS/7E25B6H2C>&E9SC.>?WMP7&EN])5TTI1X:F7>T=//[?0V=>D\ M2-DE':'R>3!^[%^C6F-;NEN=$-^P-2K0(KKHM,89`!_E)(VRIDMD35>2/M6* M?IYOP"0[O54==_5S'8T*5.EPW+5;NCKN:J/.U7%7IN.NW`UI:W$N9B<2['AZ?>6Z+AZ1?+4[9?+6D52!?!4[B:DAQZ0_L:I"QV'.]O\.YGMTG^0U* M5*2EDIS)VQM7\`)VV/H$X.\6G\F"`XY_]NK;EV]W0F!^UKYX\NALN M=G$<]-7QF3;(D*]-1W-\C8(PQ3=C7&/"DQ^-"2G<;JS](-/S$_W([2ZS-R;) M6=JWP-6>%Z#M7YK.LPU792^8>.;,--R7AG9GF/:+=F<^,5>[MIG["'^#ISS- M6*UY-'QFO6@C;<5-:TXUWS5L;VEZ'O7#_LNVF>?X1H.&O;&`)([IM7`VF@NSA,^Y3/M\?7?%Y_X$4\(G\:]\@O@U M-"`[X6)J: MZ1V`XQ5T&E""R1&7I)MQ=>)E4(TP=UKO)S9ERPD\W]4;&CHZ&C2J>#,V^,3@ M_=/$1YX-3WL_[K:ZVI)CP6L7[T>C5B_\)^Q#:NSV^$-+^V9K_S#L`/9??A'^ M]S,37R*R:8;H]F=8&F9(A4,*#M-N;"`-6!WT(ONQ@JU%6O$A4LSSOA.^[B]< M)WA<.(%/GWU=!\K_3%I,&0_D.[U.T>,SRRLW*"-P^-Y=(GFW8GD!'?[L`:O` M.8]_8B%$1K8#RI.B4=F+;AE(/Z%FN)0__BQEX&,(A$%>?Q_>DU+K["SGP M%0GW(V'[1+4YM13S/1KHE$OOEW9BA\SM*24+YNM1R>WYV'4M;):KB<[(.[#B M:=SPHY9>F!<>KS25(4R_-2XNVC@&5XBY@L5B>;KD#1TUN#RI"E M2,$;GJ9DK/I"=RU=6N2_NC9:PWR9%]7@H!%ROV%WFV-MJ:@

Y()Z;<]V MNYU6@GV+O,2.\Y5A5H)^A=YU\W@!3I%Q$&Y>N0*1=5=P>\]3Z=.8]P;U2_<4"P)1_IN`8=!5'[=:+MJ%366T3VSB*^[*2!YLZ,-^ M*X_C^XQ(T^F/M\_W5@=?DGS?_`5SM;C;0AV!KQ)LU%.^QI1K\=5( M$T60O1A$@<83']5]>9_#8]#.=:XJ"JY9)N/!,7J&*]E?\S#&3F9""%(:03DA MRTG"79V0YY[U7%EMMF\:S8T]=99,N_<-GU$%QX&R/#NG=K2JN2E,J'/&A.H< MZ3P[HR34FI)P^R141<+-'2:5V[-LF;PG/SK5Q%0%UCY$NV-/S`X.C^EU+"5< M:`)M?]`:*LID4::C;Q__/CEEBNO%TAL,5'1RY^CDBKD&0HYKUS]6S/:44LJR M`_-D]9\58;KYNL*=B4KJM,?;A[R4'V;GI(K\*NN@D80:"/"HGRO70I$OE9*1 M`^^Q*N0K3$L.CI)4IM1DO%B.^1H/_-2-2PN-MNKC7%=21<`U`G9/5V18>3WY M7A^-E#EY5#V9).YK7:4JN+B,QDL1VK(Z(0XBH?DPF17]UNF7Q[-9"?H5>#[T M=RI`STX%B_K3OM4Z-FQ"^S'P8.J>I]VS1WHDW816_/V.K1P7?8T9'6U5']K2 M]:'M5*T/[1H?'DPHWE`.9].']HX]!A9U/Q5Q`\?&!JVB-HSB"3^W\R^J25J*QO3A?0+]T6:'G:* M7;DFS@S^#^+&6B\X^L>O-]J5@PU1<653^"]M:5)O)R=.1.TK*,>%]LGX(_PF MM]RT6QTD`R M+ZE-+H9%#6A3A&.B1P#UTL76.OC':+I`T,\.L(0&TYNZY@J_C1_@S(0'!FG]B91M ML2X@A<>8=N.SI::W-"GZ;[:-/:,4YW@&R'``QQJ\`I^"7SHE35/I)DVQ4Z5] MA5HNATF:N1Z]'.O9H9?5D;P(<>H,NJ=.2MIO_F7AUBLX/G"6.1FV!BN/;)"" MUET2>0Z-CCVE^96S8VG.9A;;X.[K'NG&7(/4U#+HM&I-3#_UQ/*FIIZ;:.0L MQ4B3J8P,6*6YE54^=LV8W$%"RA5.B3(F=T_C3NF0E$>Z$!(=N:E5>[@3F%+M M"3/JY@`QVYHP>O4),\R1W'[0:I+**Z3/`;/(J78;N-,%>4;)S:K$;XU4W4Y_ MIT1N19?SU$IATH3^\_'NVO763I&Y1(`Z&)QA=LZ>H6>7UB*Y=-37(R'[_:I.YB/&H?,\NK[M0;#G*9:`>E M7O559>\8"(K%*<'#NH1W-.`$A-C%%\?S/B@S91VIL]O/50YV-G3I=8[@#*R^ M3KH8M#I;RY'R>2536GSF,L_?`[6@[E)WT1WG8*^S(@S<)@]/F%KHH_&^^NAL M_5RBI.I:9KORM&4E?NO60+Y:*466L]9)A_/`*T_7VX`JQZX$K;L0]W*Y[Q7Q MDM&/8V*IU%U/MK,K_$ ME9.JP?@;#\:/G7IXU5V4=7VL\BPR/83Z3LT]ZZZ]+O0\5W)EX.VNXT!C29^9 M=O&1V6QN^GE\(SE&BC-X?XZ\\@`>E6/?4;H2/FC MGDK6D^D+O=-=[VI`O;&Z'!^BTNFBWVK7SA`#5+OT?=>?LDSW(=]%;W\=^F8.8)D0EZJ(P5#FN2E\B)(YVA\'KMU_:!=DN!@Z2C3!5ND%.'!LE&FV]V^`4=%O#;E4EI7 MQLHDM36;F4=&U*N]&`_:N:I=%/F2Y.L/CMDKINZJLKM33ZT#HIZ_UCPEW#8% MF*P`D[/64Q*`5068O)$-]YA_6;A5`28KP.3=I%D!)BO`Y)-/K*P./P68'`(F MM_>IY"LC`U9I;F65C[-UB"O`Y&W"J(-!KA[#9T.8P6A<#I]XV0@S'"KPOZ/J MK5O7=%SM7\QPM3MLD';'YH$]JY)GO&0L>S%L#53.8C7)5WV%61,LYQ,F(_+, M!F7.;5&NT2])BD/)Z#(8Z4=`2*R^;CJ&+7<>1IIJ?K&]7VHX/D+K&467NBJE MFAA,Y7!]J>87;]&JVQXI8,`L]7045.GJJZ=A=WL36_F_=B"P:GYQT*M/+Y=_ M7U$O2;UVJZ-<7[O#4N[;6O%<75ZJ^<76T';M@>KXNH$NJG=9)GC`X1'_SL,P M4\TOWN:N;K5`N^(+(4GV=I)I? M%'3+BS6_T"Z$5:4RE7879P7UN0>F4+]*YFA7;3#> M:O8PSE'`=E:4T4>](Y025!_;O9.G<4I%O#;E4EJJ#<;!F+7;SM&S19%O3=;' MXTI5/):,?+M5/*HV&+@SJ@V&:H,A_;KN_?5]=19>SUTH*.OF`YM+^T,FU%T-] MM%,J0=WITNF.=RHSKKMZ&A[!9E)Y!">#3JZ[&/?[N4`4%/62U#MJQ6'=565O M;TVIH)-YY8:R3]9A4#J[M<.J/5WT@;I69D*#;>T"5*ZN`R,FUUWF+CJ#W8"! MZT^8/)AR9Z2-+CI'J7L]#XUT,,3DNHN?WC^""T>1I:8Z22$F%X^8K%PS>PAQ MGFN.HEXRZG$ZXE5?4>J=[?-LRFB[G="Q)8!("D!'KKL$ZW#GS(-\>39TT7># MC:Z]TNIM#[*BS+K=55O!Z,AU%^=>]YCXOF=`/67G[0-.MS?2IP*GVQ*<3@GY MKC0<=8^)/E=WZ@V&QP2?J[N*U/NU0]4Y=FU@);&0ZZX%VBI+KN1(R'77I#DX M4)F:^YF:A0,@UUT!O!]UE/[_EJ!/^<6INI8)4J-+<%-Q# MR5SI>^(?'_R\R'TE/#K*;S=';<49449OC+J=(Y1S5A_4L]ON;%_*5!%/3;F4 M5H'XQW47XVZGGBPA47U7FZ$;S)O[Q7_X<>,U'PUC]=,\>$0WV MCJT<%RO[/IG>U'*\P&4/[(?_$`(?T*8P9QCNCLW_^F[:;K<[@W>_=-IZNZEWFEW] M+W_>^&;X[2O#6VAS!Q-4$<$6W7 MWSPVN['#5Z,WM<`V^;0"F-8[;<:FYM*PO+^^:_;?94Z[V>FWQVW\?Q$1M_]> MN=;3[L-ZNIUVNR[K:>/^#`?Z_NNY7Q@N?/Y;X'N^82,&=WH15\YRZ=CW/DC( M/PTK8#E927_WRZ"[-M/TH(7-1P=6&(#]ONU\KI&AL MC[[^0"KV*ZC8N_SHZRFX7VWBN#/FXF,Q^S0.<;I^JGV_^?3P]Y^T86?E9QU, MNQU$VQ\]>9!`TZ0BK[4#6ET?M+8_SN.+%)3Y/0#IF[\4..VWN?9@1^P;ED9V MBP%X9^)J?\XYUGY62_Y=R$7R_!N;M5/?GFWF>@MS1;N49#OM.\C\"J'/7>YLSQWZ:K(5`Z_FMANJRA,:"' MB0J$B6][VM)XP4`,JAZ*S%!81HZEK7`JP$":/AZW&_1W^J;I>0%\W]#>#_O: MDL-):S9*S`6HBR7^)X[#?DP9/-;I:R_,<#W-\(&F+?CGBKG(DQ_PH0#^[N$$ M/#BY.,0Y';.=UB@&J?_9LQP>^$K^(Y'I/16ENE['W#=3N"BE6F] MR"E/2=WS!UO:`RR(IOT,4W#9W"2PKAF&]\%F&."$!W*R+=R%I?$'`Z&R`[AO MAC3#.Z,Y@DN$&^`P3PU5P:<4OS3-*@@_#.#P4TX@4W#`OJN+#9#GJ2]M/#`BO`'_F@53 MN7:7^09HH)G&1,7NSYFL!@\']DX?(.+2UDRG;D""PQ-D6GR43%JAK+T?MO10 MDDG:]+9V\7[0ZB?_VA[_K+T'G9%ZN#WZ\/K!K,XE_^?+*>X;WE,$7\(F.8%- M-Q>9`ATZP&(^"Y(4\"_J@370=HJI*342OS-VG>@<][8[36N->TIU8PXSK] MC96\'T[^(QDN'=$'W2NB"WK>3P+^`V=!_!-SS"8[F MY00XJYLG0+(C@>56=LK1O@45^QDNNEV`%[U\BSX-IGD=M<<>+7I>88_2)8"H MN;TRMP,GIY113/*A#Z%EQ[W$2BS.=VZG/COT4:FDXE)>4O:0B>R`5. MI]4I#$S]"/UGCD47?=C2%5TR^*5=)+\<`6#FQ%?EDBFLWR+'TO'O2/75;'HN M*+U*D*](!9@/JZ82Y"M23^KEQK3904N6JOJ8\O!KQY\%:L=N_<2[2.W8/5WW MC3IHQ^[>VK%\5F2Y?$&?#=/5>!*@,]=B)F5^!U$UN+=`W?F^-SH=]%<=M.?[ MWOAT90!UT)_O!SEN-\?)4PQ]D3E&*G4VR'9#KF4I4G)BDQ*6M7A.XGE1_H+UPD>%YJA35S'F&FN M83_2F;-D_L*9>0V18(+Y*;9C-S$/S)R;C&?$F.'L>-*,LZ)$DP8FH,P==TE9 M=SQ9)?DWS&R'/V$JE6M.*2L,!VB(<8Q5K%4?B2+/GW$(X9ROC#+V,(L%_D=O M]=)YD["$1#X/_(VY3R*/$JDAYC'C&3%:DI8B>;#=&H;C\@0W+TQQBS+-$B,: M].E82D2#DK]4.M=;`OR=:0L#)^S6X<4\7F(5G MNCQ9\A^&'1CNBT9;T!ZTM*^.]NA20N7"@%$FC-D@'S/84F1D?*@;XXC$\"WM M$GC2^6$NP0JS7K1.HS\:2'[GN:+Q5*X-HV#"K62-2`4K'LG!([&\/-Q#)/'< M`>OXF1(!7U9<]#,486Q[?BH=H3-\V%4X3M:*W7,:'\:+/BC-:?!;H%JQH0:">>&%!C,/7)W_#\[VG@F+1">TR'Y0/ M%F$UM!DS<'HNYL`;$],R_9=&2/XG@OQ;+MG,Y-H-SUK:"5XF2C/GZM6/[=H4 M%%IBVJ:77-]U:&:0K(I5T1.P(_["XT44_'6:!2IN,7JP@DU[/3$LH-/0$1 M/TOB>)(9/N(UJGD_73@6R@G]WD3)P`>6SHQ97-20'9?D0<@<,6[GX;!L/H=C M"Q^(O>BXH9S>0E!]*8Y5.2^Q(6`Y7O5"V=L@>[*&&_ M+QI#+QY7PY=';7(8!=?&HU.G0A5%<]1;]0:[.$YJFI>-UQWLQ7L[$H=&?#A_S.0\^PZXMY./Z M8LX5=[U^(O0U+"S:I8A?*;2(T?[I6&"&X5U$L5OFD7D$77;`^'7U.5'6=FM_ M8^NASM.`XE[@'_&:)+H@$5L-OK7NX];K,\`+W17LQL91\&KA/C,JU MN8]%N"0C7V)+"Q7Y4ZC(<>C(%9/XR,*$*S%<:>-/"]^G%Z+D<)\,W9SY3RL& M5^1'UPE65"1NV":",GR'6S@.\9]H6$,ZPR)7'0X8NEU6+FM*STS$CQ`=!.H!( MF'/@Y4;I*;/?Y]+L`M[=?X*SBE)4FD0'(@4&B:R0+NX#"> MR_S`12_[7,@^N5E13QKVBX8Z#G^D M"+V_,.P\@0C;R5P53(,6X9)&"%WJ(/>12WU+,A$R3F+ACX3705PH]'DB06$E M0THRVD+D2$^`O-2&^X@P.-';PM&9\%KRW`$A"J87>?E#-!%8R"2,(&`"!O.E M`W0CB]*VM9*NUZGC^2GW?.AX?U5.(OJ@6@W5MEC[FM#R@%"*#\5:./$QAV-E MLJ(11BB.4L]A9BGE1A,YZ26A837(.:=7= M`X_YE-L.VHBKH0KHI&U412+"'9F)L;=VTP"I<)J2_@I*?PIE\5:F3H@$P?O; MVP^9JH#">?#K1M#$,`DC"QR+TB]"F$,4&T+>XK!R,:N",C1:VD=&@75^G,IG M@3\1#DL>PR2>X9`$2(>&&C[B@@!03A?:8:L5Z*28O,1`O[B$A**CN.YX9PYB M/JZG\]QQ[$S4BA([TG%?PIR'.*`D'3B:%TQ^QRNPT&TKA'?V**PKU$[(WG=1 M8%_T6KMG<)%&6^F2YRGHXV&/4BP,>&K&T(2&6Z54^`3""5\,;ZWB+ARBDM)\ M".7-=>:F3VJ.E",E_X6K6W$$:B]+;&``9X4:'X]4@AWU,.T%SZ3HM"D?5Y8M MR2^9)!#/Y,N$6S26*/\B@R!VX@GO`,+MH;>00T_Z\'^(B8!A3,Y'8=:9:`QG6E(0GA$6L#0GW36;:%3^NCIIR#YA%;'I1RB:;U9A8 MO6#DRB@;^4RXC84HVTG#:3J[Z7IK6%A-5<*\W!>Q'+5MI4PB"'AYXT;',>E/5(I;&]1_S(;!+(1*^8([%BNVMH^Q+/2LJNI,%5Q0RX_ MYLR^,'_K9#@OE@U'S8OU6)MB_,[[&`XF@79B=:+YQ*P7RHR,)>'A!)DL7O0= M3`U/)Z$;P)6H3MBL:?!&[R',V%S36X,0\@P,(L=?[$*!`S/HF6+EY@+W2X': M)G,X>5*C2*S$NDW:4`[NRAX-WL09^3,.H9F$>4K"JIX8.S,\SLN9K!E/1.B, M"TA$6*?](1.=QO'LTD["X*EGLEPBD614QM4?,\^M`JL_&MY6X9*[8Y?,$D]- M;_^I%&SR71HYE]S(R2$PU2/Z6-%4F.AEM$&BAL MU6>ZV259MMKK\UEVKKW>O<:@3.=0]:ZB\4/@Y'.+VQ5EHIF:5X7G=GS+%XIM?J%I85-1AV&CT]3YSMI*0IDF>ZX]:X,H0I4,_T]79C/,Z3 M_GY.+#/:I>/V`4J5#W/0Q.:$+(D..L*FQ5 MH,#UVHWAX.#7F3J<\N\[P]8P#S3"V1SPO49_^R344Q.F2([11ZU19M[M8'R`EP:>J8%1$'`*@9ZQ89UART&Z-1GLN+,G[6LRQRN9BJP(&%)F/D MSN"I`@7+G.=3!?H5F4*6.QNH"@0L;=)0A?T\I[2`1)B'4%&4!71`"ZC3;?3& M)X/EK(,%!.)?.^]%D1907X<+>.]4.-NU.("&K6ZO9O0K-$P^:(S&=2-@H0S8 M:_5V02XJ#&@SW+OM8=72Z':Y8-5218W:Q'%GS,7'8L9?O!QIG;F^WWQZ^/M/ M6@?X*8M!=D,!W(,!$LFV;]`*/Y.9BKM1HD+867V06*T@T0%0"_/._SX!$KC` M=MNVXVL3QFSM4>0M>R9"1[X-7*I@9O/)&@YY97@+1/ADYA-0>@[:!NAO-_\= M@D0F41R9S`.3.*-ZB#-JVAS'D5JMKR&$TEXV$;<4'O1=T_;,*8IFP/"6(8>7 M.TYCM4?\(X.6/B(T4?K3!4R/R8\)0-OQ!_[5C)$-L0""',76]HC)RL%.M@U_$M@@S*Q7B(H2_8#;H\S/H0DA+;"^F;Y"GV%SX6#Q+ZR MUA0IVZUN2,I90)WK:847V-3V^&=\OI/ZZ^B#PM#,KCX=C$Y=?KH?NDJW M$T=1[!['DHDKG<)1`NX,^Y&D0R:::H?`#3AJ&X;1D2S*HGP]&R"NCV>?)W!! MC^62."D7\^Q%A,U^WQFWCIGNDZ"E7DM:=C%WF&C9TUO'#-V<`2U[O9;.^;(W M:@VVIN5^$(^%:,@#FL>O@/9HB=0`>Z;%'.4_Y>#,MU1AJ3`[XK*@)K:3O7$H ML^(@?NZDZ\W:'5/W"!3=<`3T%6WL6:$U,8]U6M0V['Q'09-GYB' MRGNMWZ%J?I?G5I)&=*Y@[.[L&^!5@@#'[(%7#0(&66XVJCLI^24L$/8 M#G=@16U%[5I1>_\6%4H95IEASJ$SI:*UHK6R"$^\(35L_TE`Y-HGPU?=)=4N MJ5TJ>)>.7A-?)MV^WQ)*PK;<09V#9_?T4I6$M3]C*I4IWO?H#4L+C5!SY<8\W;*1@V`%H;C M1N?0F=IU@.#I#5NY\#O.@ED&HT:_G0?9Z5R8I=\:G*IA7Q&IH`4T[%-G^7H1 MS;C1;1^\068MCO)N/U^2YGEHYW%CU#YP;5$=M#,P2UO9?2FJ=`>-P>C`A1YU M8)9^+P?T[ZDOZJ4ZR'^SF>':<$WGWOI+A`=2I_H:F2XZG<:X/=ZE&J_^YSI( M7_^P)U@-5/5%I]<8Z/V*U&\6>N_26^-=^L35G%VZC4&GI]@EJZG1:-^6N$=& M5:^Z$:"ZYQU`?ON-82>7@7!("M;"CN@.6KUCHVC5]_QH],>C([)?S4^9[J@U MS!-04;R7X+UNIZMX;^?[4[NU?>^Q4_3-JUTV@NH93JJ4\:6B#-?F(>M'PQ;BS=D6`-[T9Z9 MR^*-+#ZSB4O)F=3.`?M88*>(^'OPWZ8STQ@'4N6M+3J\BT1@P0Y3TPS/"^AA MT].FL#!XDL'R@A7,@3I/^+YAVDO\&UA@4^;B/[5YX`(6-]\=0`PY/-0<(.%87BVU22N[XZ6;A! MQ$M$T]=XR5^XC&DOS'#?8JOVN($V>OPIWW`?F2\^93N^MF1^2_N[\\R>F-O` MUXSIU'%G]/"SZ?-N*?BW@+A0(P1@VG6<#^^4,G66*V9[!)34@%$3?]#8#_QO M@E5Z,IW`LUZP`XWS:)O_X4KP'UV^VZ1\( M#,UX,DR+'G:CKW#-$.!7%![:%B&T#24\_4'EJRL[G3*B8175^J:#&U/ MY(=2\.\6Y7&EFUNG'*5[(6"2=C!T%D7V(Y)];[RJJ@AL7?`E2L)PAT0!4=M4 MHFTZAW.38LQ-'B M9/U6OU]8Y[%1GOY:6Y.F4X,08F??*,$ZO-2XQ M>0Y9,+B+!B]5K<"1*O_KH:X'C7ZN?+CS4===O76$@ZP&ZKK;;O2V[W=]H#5K)47JV?NE*W'OI_U!@,CUDK6?]CHMMN#?*`G%6"!XLLF=0;O5&G=BQ8 M@]O!B4^;4GOK2U`V68L#J-=MC-IYO"&5$/ZBSY\\WO]*L&"!!,P=6*H$!U;A M^%$E;/D+03;DZ&]7QX:%_YCV_TH-VZO5'YD?3Y21M5M#54:VRPZW^UMM<:S> M9X^*G1A#;=ZEO_PY\)J/AK'ZZ9/I32W'"USV;7X5JPV[8Q9\+Y'63`? M#8_-;HT7K&ST'M@/_R/NPB___5^:]I?_:3:_P7Q<[<:>.DNF75SSPK(/S29_ M0'Z-GN(/7=HS^I=X-)I'.#:55\(_[MC\K^^F[7:[,WCWB^")4&5O7RJ2WJ5< MI2*I5!QMX@#%77PL9F_'BPS6SY3O-Y\>_OZ3-NS$N#[&W;MQ\_;],>Z;,_-SRK?2B];(L>ONJK=KDQL*BMT8&.61J42VUQZ_< M8LN3:KR%(BA=E9!>XKF=O/;ML*D=I123?&[9S[]]NM*:VO6_`]-_V4,RBO7. MZ*-681[6][W6X7OPZ,-.XQ$MEC+=UK[MP(Z9NU!]O75C MHR^._"2:8<^TQ!4T[_=X&-7(N+'6R*%=I,ILM_(T%CHH^6JA6"]ZK7;MX-\+ MI:#>V5L!GZ%_)A>)'QS?L!**5ZG,O:S,(P*HGH'.?*_G,D:5REPG8'][%JR( MT[XD\2A]=)IXU!I=$LAX6T1V,HWBH\:B]I[R#4%_CAI:=$58OR&8]M0*,(Q@ M:(\$'0MBP*.]AL7BF+(AN%]S[KA-^M5CT\`U?9-)T%A\#L/"/HCG(W,Q2+Q@ M=NPY'GH&C3+3?$=SF6&!$!#.;>P6`[\L&?.U&9N;-D6HH^GSY]%WJ4TP1,R1 M<`WX_ZN5ZSPEG_9\%\9^?-DZBOBF+$>1[%RQY3!N?7W_[5;C,`_:-6\1V=2& MO4YKH/V_VHX_IJ/>!.MXXWD!FWTBI-];RM$@@(7KYBR?A1?W=+XK2 MA5!ZH"A=D`X9'IW2%[U6_T-3NYQ.@V5`F6G":,*<-9>!3>.93TR:4&]1L0RC MG40D.FJCJK%12J*JL5&=T?$W:L"I\8G-F8LWN'B:+G]:H^1<36;GODW?4@UY M$@'K%G0E*!>IZ[)[([5[U=V]SKB@*V=OH+7G=8[^1<3O\= MF"X+W_[LN/?P;O1J?K=;IYO2@3F^5I5UHNNUTSF#=0+S]GJC0RS4=::,81,W MC/O'[=0*MOS6B2>/3#8< M#(;5G#RPSJBM[TMY;%A_!4.[CF7A$FXPF8%Y/I9`WP<3SYR9AILA$[^:M@,< M^!(^GX]M=&2;U-330YYXCCJ&+--WI(US).=89JWU%].8F!8)ZU4`=T-[!UIU MNVDFW3!T`?-!NG37#(JMYJ/13HJ/7GH>\]?VC)[C/\'#TYT)UDLKUB+3M"8L78YGV,K:A3;*W0O7D[]AO:\,.%] M3#?SX&!D_P[@1>M%,^`.A/ELCOA"K,ML6WZ*7H)E4KJ8[VB6\:Q-7O@,X*@S M9S`43VG#7T2*G*=AAIGI4?(9O/3(;#0TL)7V#^I*C78-_'W!K!78W7/0;S3B MU/%\":&">:86>S0]B[RE+>V;'755CT:'ZZ;]R#S>=AE&]UUF\)0VO(^ZS#>Q M%3-VY)VZYHK(-'.#1]EAV\/%,,M`4Q7'"9_V%X:O(5U=9BXG M@4MY=4!$5_N5S(]PY]Y'8P&9HM)$B@7'?]UKM$)8GA-P!*?@V]1T$;QB%O$F46IJ^3TF9 MU3W5@!$Z+XH6@5%T9A3=%P!)V2A' M@4`Z^5&KYG9<$Z6R0I*+:-(;'#/;M8N/_,Z[3UNGTFRWFEL9D,)V$12L&BZ1 MI'QF,X8NET/4\>Z+N%-EDRA?4?Y%IYL/"^:,2(/UG(HT6:09;`]95Q&/1BW_<%QFGY?.ZC(SK!4*I+C@QWJ M?J58.,7"';TU5`36XGM##E M5G3)I$MW^R-+&5GIP#=EVV-6-I;[\U3P2\MRG@U[JI139E.+P[/8&_/OXI^64&F M^C7Q*2O]5)!NGR#=GAYIQ;E[N8P4^9+D&_9S6=J*?$GR=4?;-T*JB-E9KO@= MUYE[E7LJGDUW/^NIA+"]^LVVZ]?]K%#^V\V5J'J?X4.J]UE)>I\A=HNLZLU7 M3)C*5T@L?"["\1(,*XX*0I@GYM)P3>M%FW$H&$3.,)'QOZ',T'/D/!P3PF5!HE$/^*X]TO#LK2/@0>D\3Q\ MWHL_UXK(PNG;'FMY2?+Z^@2(R>62N>;4L&$54^>)(5((S/".Q7J[A=-JCP_7 MWDVIF).IF*R\E&JHF%`$0@0% ME5^""&;1T0[@;U(R4X^)52;,57KA*A?`F%Y*%YH"&"L?117`6.D`QI3%<@1X ML3(9)Z6K&"OSW$Z?:%VN:+&PVS^RN>,R;6.G$_2[1"8^VT>$JF1BY(O2Z?JX ME<=&J_+!EH\R8[W55X3)8IG.8.\B$94.\U8U&_GP0J]>S%5Q=T*8I!IHO&[_ M3\K<5]0K._64S;>I%03\A(W"`VIKXFO=/G9HP8BWMJXV<^K*LU&"[WMZ:ZB, MFZRLOX[")MB43GIP`,RS45TNP[;/%Y\8_Z\/F/"`MMPG2BSX23EWSG=NIS_H M2U:!2E`>"<>-QDDYZNCZS]I71LDS&1S+9F4E?1Q$F&Z=J>QS_RB10ETQ_??,7S,W!?2J0OV94=!486$%@BHI^Z_3K M'L%V4VE0)48%JH'25*A`"A7HM/Q72J"@7GH>\SDVR1?3F*`SV=RI*J-BHI5>DI/FP`=!:RO\!2W!/?B:4>6Z'C&^5 MDA'W-9T4`U8I%7<7%BQ9B.*:QR$;,>O9C04S<*&K4)< M;C_K*6_IK9[+_51E*RAO'?OH-/4I-1#S6]=9,==_081/PV>SRC!8@:+7URL$ MDU"@X/4&VY<6J/,U1;ROW[[0B1KKM'9EN.[+W'&?#5?)8=;=-H>:/SE="I3# MP^4^G^LIF-GY\/"@0360P7&%:L<+%$&]O7W5RDF2YFH@I"=-FJN!Z.J=7+); M"?(5*>*]PR-?'4MR2]86\V^NXWG:8;V:M1733J=;H8KM(@5PE`.NL#*';-DC M#]H_#2L035PLRWG&?B]U.T4*E.Z+=KYRN$K0KT`E`/3;/O-?9<'LG'F]WV%= M":XM,GB#A[K*=-DGQC/:OP]SG1);=C_5]\N_+%W@OLQS._4UL&0.'!5KW*;( M9#1448[L,W3<.\;][TR$+P;NPN]U6-@A5X;8BI7!<(?#48J5P4#/?9,E$5>4`[!E<'-8/`J)``<^3@:@BD(<* M/^SFL:P$[Q;I6>KW<^!O5(6`13J@>KWAX:^[2OCC2?',CT1_Q_Z=E6#;0CW* MW;:2^[TP-=E,_PZ+K@BV,_-A^8NU2> MA<,3N-O))]N5H%^17L5^MX:%#274`LJUH%P+I9+\G5T+A6$BAYNW/:IN&J5X M5U3=.++J.@]]O_GT\'>N93;L56SV^UKY;ZR0[@#&AQ@\<1*H>"OAR-C`DP-/ MYR4"Z%4KF,&?`WL>V'CY9Q)&;")@Q`[-[(I!MV70B6)0R:`S;,).N02AER!V M%7@=Z;QZ"KDL,.?#P9%.[#ULR'T!8M^`<3I$B4WGU-[%,L_M!"Z1.K+QOYCA M:M=T8I<`['R'[D4%7(VJ#'9^+(J>*]AY'77``;'.3WXLE'ENAPP3EY$/<]'L M,YLQU[`TM*.F,<.I0N#2Y3RM\OFA!IU<\`15/G3R$29'OG3]3YB=)!M;DDWY MS6AZH)M1;>7P&-5M-9!"O;6OF7>>A^N]CZT`U=%Z2I$>ZDJF,T'UQWOGO1PW MYET3Z=]T_#;@:1^;V\W%.3UCOFMB#7K=?!1%%L:>#F&W!BJAO5,63)DC+WM% M&B7-L0TO<]]I$TRG=O&QF#+N[]+4'UK>8HO\'01QEN7HV1KVKGYFV,&;AX84A.$]:N[Q5V::#3UO!,6>X MIO6BS0(X'QT0+#OPX/Q;N6QJL\F1YZ0S%2["\H5PQQRTPV;VB_V3RM M@1!;;FPO$`0S\/GO?AS+0T;?-,;\YBK[-F$ER9,6QFN;\(`+UK@FQ:!R4Q>^'I!I0#7 M:A,\38Q'P[0]'Y?NN-H+,UPO;!HR_#GL%&[Z"YJ3RY;P/'R-1C)A4'EU`&HY M\SG!1P5^X+)-8[6T[TQC/U8,5@+OS(/8%.D3\<6\MEL_X],N@W\RS8`]$@E\ M)&($8[4P/"`$LV'2HMX$OH?__6C+;[G,"RP?Z8&OB4043MB09U*3\$(*9U!` M+!V?IN738A?&$ZS80^$UO066O:!N%LC)AD1.#G=BREP?_NN5"?@+PTDDA:`B_*?<3>!XWOT2J?=;>_<>KY&"1:' MS.;ME>]FLV_PBK<8^,T.)3^>Y!OVL*R;<=[16P,5T:X72;++:EJSA=+'Q^A MKU$M"#.J4/)%H83I[YU]49N3.Q?A+N&J26C>A/*--Z!;QQ-_$>#[>.?'*[VL M?\`,8,6$A^FN>U;T:2NMOH$N!6!&U5)[W;%9,%7JZS#$O&BW.GD:SIT/991B M+W=;^:JKL2V-L%N*R?V+XFB*#=?)F*/M\EG115>7Q@W\LB]&[]G;74IA*;M" MT>=D%GLG1XMH97'%,YZ9[UL,TU"49MJ[>?9944;II*+N@N>7VI2+T%^,E<

#&<\@%R:?N]):>1]TI`AY$*RHR%N=(4ZHS(Q'#0_U98QBC0D/P M>N=T'>-J0W[=;`VW)\T'Q62PGWCP>5K/`R_.H-&?6T)Z=P)IIQGQ.E2TP*\.V M`\/2&/W%?&*R,@F'<@V?%5H(4LF]O=RT;Z)@#G9M&.[:!?QK'/X+G;Y4-H1E M-XG=%;^,/N#8QG3J!H2@ZC.7>3[L:.@:WKS_9@QX%7=ZZMBDRNC-B3BYO05C M/E5332W#\X!,.;]B>-$+6#!E>TS6537E`/!7PZ+^+S`59\6P:LI^E(][F1.D MNB4J;P("R`HW48I(I(U-R$#:=4+:N:%3G5Y-3>YB[2_P%+S?V[@K:[^,/E"= MEN*8W,WGV2TN[_/+E^N%:,SUMRO-B*B\:%9C%Y1BI6*P":?,1M_.6__TO3_O(_S>8G9QJ0POT, M#P$S$D#M9_BCUVSRAV;,_$D^Q1_"9^@1%%4?AKQC\[^^F[;;[<[@W2^H_/[R MYU?>"K]].9U2\;YV:[R@%2F_&%L`[A>#4Y;^[XTMWQ`OP&:9_.,!?/R=-F-3 M()KE_?5=L_\N/Z MLJ*?3*N)K]T`LY/%`CXBXN57SG)I4F'T9\:\2WN&O\FWZ>7\O#). MK277YTJZ+N2J6JX+V"\MVKNMZT8:BM?<4%R7&_Z[^#D_6W7'G34A20Q9S%20 M$[K==75XBJG`YG4&W2VG@GL)+'?OPS&FW2\,>$:[%'@@;):>&'^:'N;/1H\F M)JF_N76ZY+#X)%\9_M03UON[3OB.(60&?._:<&VP.=8$63X@?P>='BP#DK1/ M8"M-33^G6.@H%N.T8GK[,Z>;,E*W.^KW=I_R%W0,`5_<+%>&ZRC;'=AX*_@UA9QR$<`&S^IK?\#[# M34Z8XND)XN.XH&_VO6&Q;W/JFL/7DG^?F\,4)5\9_>03QJVORE3;N:>*_1`% M0LJE[[OF)."`-W"CX_Z!]&3A!?[\%^XYSKGUPW[Z($T,>))YX0X/]/115()Y MH=782=^QLN=U_>_`]%_"\P6=29R1"YT8&DFZONX3>'5BMV#M2U0_WCKN%BYH+O--EX<&!,B4=FL9]MHY+]Z& M*QZ]FWQ5PE-E.,0RQ:Y03VCUX$Z'G=/`G>8!U\ER$G]UP%S0W_"F9T*>YIL; M?2P?.Z]/:8NH>]V<^!+ET79LE$JR`1P7(S*2D/!+D_]K!K3#>Y_PTF-,CLB] M0FIJ!)Y(44>8.#G[99]4CX,F\L<(@''&TH-YVL3PX)\P'`_%P.W"8^Z3.>71 M3G@8\1;A$\8C0H2^)&.52V.&9HL/SX3+H&``AAX[@U8_%A_N=F(!8M,6L<.Y M]KPPIPL-DX.B,,.SX44#\DBOQ[T*>/OA,:,__0)%>4-(.)ZM<97Q2 MF^CF!1.PKFV!?8H(JBD"$F(JOD0DDK^ZR14WQ#I@DH(J(D[F!&[4N98FJSG/ M-G.]A;FB41N<@##;]\-8L/<"_J4G`K2^Q.(,Y]+ZH%W]JH""ANJW$.83RO;O_=LNY;\L746+H^SROP0L\^!GD-W!)(7,D6&3WF("+ MJ84?1H.!S:*_P>^80$7`P!C5HQ@>K!88__?`YID((=#O=&'8CZR1T@-$!U-$ M2$*D!;ZZ4)'@GWXU;9MY(`AP=L!+7!%ZN=9,TW]]]H?EY=IE<\E3:94\OA?, ML&"7IU)[6.8<-U5B56]Q#H5;C=HP>_3M=C0<4UN8"-YLS,'`"\'21(J2+M"" M`]3E-!OLQORBN0QN,N*K]"4\+^3GS)`;X6]PUO7[G+=!]Z=/1G&N;ER&1Z=` MXERGH6*LF!(38X8[B^NAK#4+CMG;S.%#\D=Y2BZNE%-,'#F87[*8X$:?;=`*-2%_^\_GCI?6@D(*AYJHC'N-3WV_K%],/% MF+*X*&$$#6TT%>[8$[,#C([-0!G@=$VX^SPY4S+]'X%C?#S*Z$LA7]#I/]IX M^@NM0=,2[\`I^,P2#[T?M[KA"/$W9+;3VJ^)R:B\D[>4PZ^)!S(CI2V!, M@E#(9*.Y,052@KY?,!O.O3]0$2!7XO_%"S2'_O8"M)`P1>41`P8H&#&9!!L* M1@%!YI;8C`%++4G[P_\VE\$R:#-WS1@L$&F8 MN'780H\KW/J1L38=0?C%;!T0"FER0B)M3B>1Y1CL?'83AJ9?Q/_$L'K,7&[@ ME%<\CQ5UPU52>2#6N;3BF9BWR,?QO&"YXH\1"#P^&\O/XH>VXOTW4V%Y1@=Q M->SB)\$2X;TVQA*O77TE3XK-D#>)6'(E;J&!ES6YW;BSIL?[''`M3[E7GE"\ MIOLJ?SID_*6XE!]1CBW>WYP^2T-$4\,3$T^6E6.+.!0?'O_DL@5^-DRS#EM" M^<8/;N!1LP),!(0SW1/LR7M(2'-T2CD1CIML6P#J`&R`693TQE'^->#^B*6Q MJT$\;]:+YNG)A'+^GCD-"87?4ZR_38;_'BHP3NQ$$K&T=##%$*U"<2;0I7T) M)A+F'&)W&RP%XTH\OV**'"3.NPK$K&H00FS33SEXO/EO4C0<`M>$\Z&F('C MSNB/X47,B'05^C5FU*@&M=9=2.%O/%6=Z''0_36$-1G?"DX9O,;B3M%))7/E MY>FU"UE5(X_MD#BX0QS&@&_#;]W2%6;NBR,O#]]O<%5YC+HE?>:G)=6^[]([ MJZA:V5UZ0X[7MJ0Y+M6>4(KU-6U`H<6S&ZH5D^&@XLA03%.3TBUZ^[8CI^]S M7GI14FTR3MJ*XNQ4?SYW;6E>% MA)U.:U0!'?2Z.7=K?+/+?3V\/8 MW[M$S!BQ7@/8\=&T;9'#4*DF#04;#H-^JU,9VA1K$?3:VT/`G_I8*)DHWHLP M#=:25H:["I6\@1*[3+KT3]6^J`92%U8E*[';Z'!4DX'>/$>E1^%-T^&Z:K_=.P`J9B?-LJO2Y<`?,<&V=T'G2&W;WC#6?M]L0B7H*?=PYU M+M18$GOYS+?SD<.>KIR@.Q/O6F+,Q/TKE6&S0@6P.ZA2\_HB/2+#UD@Y0LL8 MJJC$';[<$8U*D+!R@0_E`LUQ554NT$/=94>=7$=X)4A8Z)4WES>@(F=]N3RE MB6IR)?L'X]P+O==M#=3)OQ\-P=0?'N'L5X5N-9N;4OV'J3TJV-/]Q+52MCKE[(ZSJBH4+/BT'^U43EN02[8^GKI>Z=38OM?:JT3/+9XD(7IN20UW M_0-=TZS$Y\N@6\.$E5.[[KIE\6(IUUVQBSZ*6CL%"? MVL589O=GF>=V2-=L*86D/-C:.U"G?->2*F'\%GKCS0&N?7+"%,HQ_;W=6'4Z MLTL$.EX'?50IS/$B]5&E"%,HQ_1/TWFD^MKH6G8`+P:6J`[JZ:+;S5$1>'(Y M+%)!(6ERY6V?CXJZZ':.@B%Q+#55JK#>Y=)Q??,_O`&Y,S].JDT==-.@0H!I M12JF;JZLA?/12OOCR)4M7%1JO;6>BG2RC(0Z:+MV_=(1BE2*[1J"HQ?*?4?` MX*Q[L'UG*(B[GM:V*P!>;`%?#-C)%\E][ISXR*ODM9_);_$W5!).1+J+JLOSN7E5 M1GHM$@9+DSNG$@8+=`+7$BQ.%?M6+Z.LE(RHJGT/9N5W^RI+85.>W8FRILIH M19W0D7X^PGC1SA%T/CEE"HW'MW-`8ZN+S_XB^S?CC=MW!;UGA8KRH(Y8[H5F MX+1Z]6OB4B[+F-??)^&ZC^6-J@J/%QNBJ&.K^R)M],Y.-KJ*49Q]C.+&GCON MDIL[\%^)$(5'*+`:QBIBR*WKP0I4E]<_ILRC(O\=$K$K8JB6WJ]8,A=]72J] M3^CPKPL)5?B@'.$#WUF5R#]?VHFIP$$2BM#YG9=;K9_]E?'2%5N!W:E4#_@B M;RJ]07\G,+&Z'@;YO).OVN&58;A"9;$W4K*XB33=_DZYC6=]2=NQ._2.5^.J M>+N*C=77LCUTD9*_:WMHY3$\>X_AK>/Y+O--ERVQ4=3?F6&1DW"F?3'G+.X6 MQ+\ENF2KH^:L_8%GZ<%3/K=:B))*V56>M^*O#[QV".-K![WMEV:WRSRWTRO% MDO4,CEBO`>SX:-HVF-)XK44SHS(.ED(OJOHX7_'M&=U`]<'@\+ZG,Y'$HV(# MUT'P>KD@`\Y'ZGK;:R-U_!6*@%L'J=-S("6W6,& M+;;JMYW#'UD5"A;/T5]RR!MKF/J6.F\\ M4%U1LBDS'!T#V_],))$"#59!#>7J((AZOAJ,\Y%#O:L26W;MZ[A<6/2(4>#N0XUWO;9Z94A8*%.IORN.$J%A(6*_L6XOW^VP1:W[`Q15@&U*LU-Z?W#@`]01^'785C$(=IQP#C#,NPIT^X7C)%_QS,]'\Z4GXZO#$O#D358@O):IO,X`M=%D?AB M&A/3,GV3*7]E]KG=;HU4MO3^I*G(L58R,?WJV-.])+42AGC!=YF1ZJZT[UVF MMYOD'Q`)$=Z9N-J?CZ%>AZ%P.5A: MV@T,-9N9A%PH)KU*VMR+R.:VT.867W;9RG%];G#36RY[,IW`X[-H:,],6Q@S M[;T^;HVT)<<1PV=-4(9/SI2F^N@:MH_3=6%?<#%3*YC%&U'=V$_,\ZD4#).3 MG,#5IG'C?B*,>X^,>\./`_XU-$3`TR[>ZZ-6)YS!^C/M\8?6JY*@.-O_^>%M MOIAB8T]@!:`P,FS('\"Q!ORX7#DVOH;-=MWP0/O?W@P*937 M@Q>W[.MR^,UV(T_"&[Z'7(UL*V(\EWU_2@;M>C"2-ONMGNKV5'TJ5@E\MNRR MKK!GRQ6NJ"H?YHXY*,BE36Z#45L!OF139C"N4A%2J43NUC4=5U/@GF]"F^@* M]>5XJ"_G=A/+URG>-6R/^PAW0F*OA`.^2&%NMSIU(U^1`K\_AG;YTJ_+)?". M;UC:T;QA5>'I0HUK,"$5+,Q>0`#][;6J:N[VAELBZ>GO'5^=Y0]@[>M@NI(Q M*0\#0I1MR.`N,C.G;RF[ZQ\K9GNLQ";GH%?#A%#E_5?>_S)3<7OOOZ+B*U3< MNHG)81UIM529*HBBYG;(`$\IA:3^7:0*O4=5J8U4H3?T?+BM9\4Q^S;Z*?#, M+I6CK9KMM0KN(E6=]EH%]QU32$S96&@'AV@X#],(W5J4\=%S?_`\E(*#7OL+)0X6R7#L?Y-OY MJ"GN0QEU=/WGRM"G2,[9@3ZG-JI*K;`JE5Q<;)-NY77*QMOM5X8NQ>+M'J'+ M[8DC\*767&>1!%HD!^>3[$J0K[R*L1+D*RGWJ?RE'2O)#IM&IK@X"](X7T>0 M2A"P6$SH=B[#NQ($+)8#CP MD'^/S/#770IUH5<2Y550+P'T+*93/3_Z!= MNJ:'^+*?`I<` MEX<.H9^/3%YTJI177>CQF(,9>)0)DA8IRGE8C52%@U21>X9UM@7=6 M3'RI*BQ>;$^G@>I)OQ\%!SL!$*LLA+//0KCVX*_4.N=SX`'RPN1V-)PL/T"9384IC_92)5TL:VC\MVZ"A5D190JVIF$I45LYXE291 MI;DI+W0Z8ZPZ`8Y";YV=H2JNW-#IY_#50>JU][R>G3+'"IJNVB+N+ M6W7N)L6*FUXAJ*"B4]N'AS[;5)I`LJ;1TT`R!UHL.1+^T"F@)*_&$JT/>[E. MT$I0L-C>9]WMRWV.$_Z'=R:N]N><8^TGZ_E[AFVDZ@-1]2M0]2[*"EHP;<4# M2A0+627+\Q=1E,1".)L$R;V3,JW8GJM!NHY>!_&R[#+\T=RW*>O9]>9;$#LTPH[^7.&2E31+BT M$1F5O5`"DZQ,G%K2J/NI80E4^D+YTA=JY(!0"0S5F)OR.RNX)7@J>+/NAK!S)><''J+I!KJCCU[(M3OS/D2S9K M7CXQUWAD6&L?+%=D[6B_>3PP]HEA=`T^FH&,73,C].@]+A3L\X;(0*?5Z2O< MY[W)V$V<.@KW^;32GHMVGTQOZ@0PY)WAYVE:4UHW>YGG=NH0P#KKG=(CF3LL M>N++2;\U[!=E7/=;W<&?*D.:3C<183\R94;ZUI0IH[8_I+_S>+XF9J2OCZ%2W6GK]>L?7J#X`_UVJ=E7N1$Y M=G+*%)FK/6C!,BI#F2)Y9M#J'-[56 M8>=O`5;:@(J:6QF:#NPB,R7SNU4M::](79PGX')RPA1Y?%>*,$5RS+BU?>SR MU(=WV111/5(9B[451XG$H$J)9;'7C0H3JDB.&K8Z"4(=0)\=MTZ\^K>60V6. M5B-D5R`O[YE?6@EZ%JE$SX&>5>'/XD/,QXG%'AD:^L;6F(?T,;T%0BK[CFE/X MXXJY<\>%"4Q)JSN!FQPTS_L2_=E_6=%@'IL&KNF;L$Z8&Z8PF_83+)!@K!L< ML'JULE[HI0UC!KYIF?^1Q/`-]Y'YL!NPF?SD69\SQJ?A=38U/'C2WDS`5L1` MWV"(\#E7G'""S*:'G[9A-1;_W9C[!*QM>^:,N7)J+O,""[X.+S)CNL#_ZR\< M#Z@"Y'-<(*4),YS-.+P2S#$]@+ED M\6*O;SLSLPVDKYU\T4=>)[.#QHX,8_`R#J2!#\BOU]__/C^_OU: M+XY_=-G2L7]3G`(L.&=3S'&.$[[@'O)%R*W:G#LPX<``,#[-C7`CDA3M$`C2 MPX"+D*0YJ/K6'R"6AK>*<(!F.TM;CN(!>$:.QV5#FN-ANK==U7:>6\>`,.!8FS$1A-A>S@N&`3(Y`I>G4Y!-N!IW7=4 M7RCE$1RF8%`4!D&J(7N=5*-07EU;^MJ'(#4O/9,'5]@J.2JX MHL_D1`VSF^,7-ZAVA*N"X6MS>%-L.>G3D^F7#DRQBGX M.3_K4:7/%+3S[@!5S42NP+54:].ZJA`7/IU,E\%JNG^Z?Q"WO36C37!3?;> M]>J4]J=0/[I&\E:DNTBP9%?1^GS4=`)\2KF)7'^]?NL8CS+CLMPMR7^SKKD6 MH'OZ"K`V\!6H$@F^5/#%6A_6`[T"[4WVJX*C"P<O+O_ M6>68.\0?R4[>4TS_5C#5"5D,#H9:'9.HZ``#5#)(LA"7Y!M+,WT=OO[7^S?7 MK@P_,QQ'/-HRLP6;.=SR,*&(`Z0]D\>B9'[/)UXCY[P7052HRD4A5,!!)&&+ M;N@RN8.A9@FF9Q7DNL`<$`MXT?5@D)A;(E)MXI)AW$R;7>]]V[FZ9"^OVE=L MH6[S73*8VWZ[@\E>4&XO\7K5H0Z^<3%*RJC6E+^'+IV-]5 MG:N#.7A^25S#%$(;O2KH, M-`F6?(Z;FS[:#).L+/AOMA-DF=#Q*'>'V@4'SO>7^/.F6=1,NLJO4FQZG01F MM:)7+)J7LB1RM^)>R4;SRT#2(RK#)0$I%)!NV47&8I_7RA; M(,L:=UQ>E"\=NCRSA=H)+>9]<::P5")Y6^ES":(N,LJA3L7+B\QVF_IG$ZK89U&2)(Y%K>;%`.2F+DH!B3K&)#2I2'CT_X/W)!, M[8N@2@U;.IA_UIMSCWVS?5-G#UB91A/&H]#Q,-^5I^1!J1P,P5AR0_[@`=0N MUN[@S#3X@R'KBF#%&HM)2<(J/?@(UV15CP?A?1/""@_DE]SQ#,U8_* M`A#89EA&9SVR]3`N@_@16$*;6\8?OI#1!.[Z08U;"G>N&X";_>`*YU&5ZPD#&&S'L1]DH19= M1L+,A"4<64+%MS;/2Y1@N9,A(^-X!)-8S M]MU8A$WC)&&9IO6P0IR0GH5A[3T9A2!X=AMAH&)NP+`Q1D.6I\'J.FJDD<%? MRM\!/HSQ@"YPBAW;G\UE7Q&0Y@9@[VCSE8H*67]D,Q`;-ZA.-9LC0D%K*PF? MM2Z9\X=OXS^2MV78"8K)8SA/KIP?0X=)D+69@CI5$1[%@).+C^)1F*P;G;-7 M:\XT[6_[_>]#&C32WVI$#0L&+Z`=_-U5U:D.@R!1XTBSB15[?GA2Z];2)\E8 M"X?SMK[YU_N1_<\60TA$([)U$GOP]2PY`@.RL#*3K-MTO?TR-JXJC4'#2BXB MFMI=5V4+%*,&6@*?=/WI%+0FJKFI(T!T+6TEN>W1-OV%0`8#Y?((9*W5:T0I M,%N9!FMFXR\/W#62!T-E.+N-*PFHF*NWQ5RWZ_E0:A08P(89QFF&.7E&%UVR M![!Z^(XPY$NZ`9;#0SN%?+'YM-$MQSAQNV(95OV3#P;\&P9M(@GA*"2OKI;( MYM!%0("J*29[DH4+D5KE;N#;D9`\6U;=\[!J&@S#]=$"@'IVI*K;"C64$80; MMH45P=(VN:S9AO7'T"/"VHC8@R39!1MDC*Y0(IJ(]+=$Y`XZ-D"_ M<>G%*?<-'1-DP(VO90K7W9H*69SN`:OWH<2XMN]H8:SH\^S=CZABR3)!QZA= M#>F8N1&J5""N](Y_\_69_`-8#F-AE8J-<#ATCT)BBN\J%M9?DQAP)7X;UKQT MUR[1NFC@CJT_2Y:*$QWT5+R\7'/]"V$L$L4$VREEQ/Z&US[[]=W0#88P&$<# ME@<-#!"]]B*\'-CXO:L<%3XUB#)9+0\'XT]S<-8?KO,CT_=)+?<.1-L4$L'9 M;6($=;"N*P[%1L:A!ZX_H9@!BGU",16*LHY;2I.6--=I!:U5B849HY48HM:C M]+M!6X15Z=(2$9:FB&6RU)<-E%EY1_&93?W3;LU526IK>MN0:#L_HUO:'2:2 M6Z*-S&XA&SN;4\@3__JE?==F'S%Q0$OCR_(KL)U\"2*OC9]"B]/V.^U!YL@T M(03X9>^J':>0V!DATZ]1[?)"@1GUVQ/:8BG2;GPR=&DU_NG8W[PY&8^"34K[U52%;K(AV"9`'R@+$)\DXP M9A/*TXD5&T#XI<"/)A.)YF#"`N;R=CV9I13WA[J=0:QP1U(%>PA> MQ;NU1PCN(C@>QSHM)@#W;D=.>J=?BRJC^,EZ]BB?9JI\/T44:"L\35@>63>& M%9K!7=I*+[]%'FDF?"L+`P1U6W)/&-A\-7!Q[:MB-U_Q2&&C#6)464K*L0>T M1G-P37E(DQ+21K)J@CW1YL<*5"6]9>GFE=P2.HQ/C=D;;G)+.Y(HOI,D2Y`4 MDL.+X+R4=+]37/W/EUI<:W-$%'70S:W3CKO//141>C&,C0QDZ"Y;'O M:'/N8@DZEYOXCZSY)3S/5'5<+^$%+^>-G0;S;Z\]*&`'I[FJL5MBJ$83&'!R M^N$L!0AFOE(]O:09:@^7Z/S]*U76HPE8.78TQRBD&IWEHT@U M.BL9Q%"E;`?5JCA)A%%AL\+7@ M7K\=9W_BC.Y:]N)=5CTC9(;$,D>`&>81@T!V@VIT5I+?8T3Z':HL-CA M;#I4T_4P+EU*.$\E.L_!8)!>S"#T]XR`(0_C6%JZDR6)%AI4H;/&M]Z:(*ZC M47M`P!#CY,HXM#!(I>6O/WY\?_^>U/L!,..EO3P?Z23M1?@4)%?DQ%,!9J*M M=K213T;EE_.T('TZ42'7@_`I5[#(-Z,BT"2M9>(SO#H]O=]9`4.,DQWCD"]/ M):"KL*8DVNAZ52EN&A6!)JM+^!2`3RYYO,\-&,K*%!]?*@%=HG[+%,8F2#O! MF$T,;8S:!X1?.OPHL7``*!6!KB(KOYSTJ`9TRD(R?:H!G:X&=+>\-/>-`+#? M&R>Z_%%8#>A\#-!OONL9T]7&AIZ>#?I>PO@98/P:/QOT3L)&L&B.+AQ\+&+I MH_G@]IGWUYMW]S\#99,(?A&:=S+UT4TVS+-5P/78=/MB56[!-W M?A>>VKB4Q5_DB_^T'X5C8=/LC8V_7`3);U]=LI^%/A/!"\'7O5>J<,R1(K;A M8WUX[-O1-;GD`0Q^/`+#.K7.Y4ZV!#6.S5W8*0ZS MS;[X#A/?ES;F5%;T`JU+H7G8/?3CBJW9,"S-]'7H!U3O7-(1#$^V[AV=QO:3 M+!7^>30O?(8Z+D.]U(`T]H=6&*-!\U88,5.)Q\OJVL@,PGDDY"O]5+#*M)6P MA=U$2;\&0_V(G`NF-?=4Q^L$:2;G6=E&B311G6:5 M^;YT\UIETU]EVK(,A*RB@&17%+$S22HDQ>Y?%EN+O5.C]*&%UC$Y5\C`;;\%A17_+/5,M%.=$K$5J9LN)NUQG`7>^>@F M0&9T,C*THY-@7>P[VIR[>%[BHF:8S13PS7GRZOF13(5N]Z-=\^E%@`6 MO2Q.$IJ<82384P$/Q<2!9;OA?2C\Z=9V/4=XAB/=3?:SX*8WET[H1V,J(N$# M3TY%QD%V:[FH=C1)&*)>^J9UZA.RP>2_`"$;`8,?!PT\+;OVHJ$P![V%;MI= MN%ROWQ5QAIGKE>S8TYPDDJF0X^2\;DN4*B!!7&AQ*#;R4#X(HR44,T"Q@(M] MC4917C/+?O>AKM:J*J$A5' MXJRZ5$23U!GA4ZI@D5N?7M>O,ZZ0FC_,C4,24U)CA$^)@D5.?4I%?X,'V1;' M/!FG'S"?E9[OC=I);DE\3<@5594F MUX/P*5.NR#.CDM(DJB6>@??&L0I]G`\RQ#G/K+]C,`ZY\E15NAJ+2J*M-CG: M:R_FA9>>SC1SR/EZ?[5(P$(PU@[&E]U>K-`^`G#W:#\&?N64**V@R:(2I55D MY9?C`>F"(CYXU#R#6V@=KYV-AEX1 M26!K57(JRP.J)G)KBEPX3_!>I3:Y$FY35W&V2TJH?))3D)ON&?8+=`JNRKED M5'MFR[A^2_,Y+?UMMO-SS6I5D.,<6'B4M:XD!C[1?I^>XI@X-^7F2?$IZ2NZ M\#^6-;U?MN.?/FOZF+*FQU@2E!%-T*^Y-H\_S?(URII>D(!0UO3L4*2LZ90U MO7P4R\R:7D%K15G3GR&L]"!-(JS4]*T-E%G*FDZT59BVYAM=RII>9?XCVLCL MEG!-A+*FG[!!WZLJ8GG=B*2J`1&J,\"E7L,B9IXSI1%O-:"/G MC#*FYVM"AE2TC%P/PJ=,N2+/C#*FDZB6>/[=I_T)XIPD^,1A''+E*6-Z-1:5 M1%M],J;77YZD?.FY!W!3OO1ZU#LA MSLVF+$I!Z=+S8=7??-;-,>6S;F@+I6,_RA=D6Y]L M73B6\:>\I<;`UT!Y`!'HLPOX\(KATX8.%,U\0Y^7MJNYP@O((C-!3>].9.D+$'>@J>#)N'?"'4Z4,<>A"6FAN>VV:]B\]C! M1L-'59.&I9G^DTU>,M"'VIS]`;X4S!3S-W!-!4``'I;K/[B&#C]9\%G^`@BT MC[+R3W_WW=:,\^4/M\)RH<-K2Y>Q*[=;!+\)"'BWGK1[\=U[@USW^J]_8>RG MO[5:[PP<*:R]41.9`)?.6FP\`!O`_ILE_+'54LV'1*Z??&LO%K9UYP$!,%3# M^RJF_WCA=SJ=%TP7FK'@ION/%ZTAYKBW/"!5_JYU\+\7KUO#SD#^N1G]H8;K M-K(ACFPT;-[(>B,8V:@S23VR_K#3'K1P%<)!B>GL/0>M811#V_BP256@M!];LO7A-(.<-\IA`SAWDWB0MR",UDG=B*AS\"@<`U"N' M_VZ.SOD;[L(/MWREUA'/8E.I)G-@[#YA7CCFQ.>%8]Z[2HGY8-1M]UI,/<\4 M!<\AD/4[.;#B@&`Y!`MQRR%8^IW38?DLO-!CV&P'G/CE+N6WCCTUO(^VZ\;? MQ9GT.SO+D$UKU2)V^.+UJ#.N![&XUS(>["[PGB/VE#5LSB]D-EO=)*S5)`!& M2=BU00#@)D=\$4B\!(_)B-7%_%PO&9=58NSV;&,H/S&>KYS.K.NOK`4#>+?R`B2LL>"8&0?9EF M"A]:?;8MS0=?P/)B,E3WQ>M!?[1#_),=E$=L M%WAF,.XF(E;=I5?7&G9)5-_&!ZXWZESM4J/:RJU;A*#7O^H_TZU:X45R6^WV M+1_X:%NS>^$L(L_%!Z';&^UNR1UKO&CR$*QNO[.K8YXE#YR!I7"\U:6\"Z," M6?$*XQ(?.^"`R(?EHR#;ZPU.?)[PSOQO+&NC.\Y>CP56[ESDZN27K*QB=07?8'N=G#9HMA&]![7N. MK\FCP5]MYW?,;@7K@)DCW#3VH,$".1G%R@]Y1L(XN6I=6#I" M,^2A?OX+@(+EN=<>%9:OYVH\;$].SMB3-82Y"7ZA$/8F,2"L3=*C[J12TK_G M,`?;=)$4\!@HT3AE4*0)ZUZ.1YUV`3LJ#78#NI?#\:B<,G/U-_&?;:OU%9.B M8H0>>V\)9[9B7Y;"D8:>7/+#CNG9U.OC5XH%,!A^^10 M%?('$@"L0HA)\K/&M7/Z42L)_J&]L=1R3^Y`FBA64@99!E]T+R>=7*LEGH%& M`!!'O5ZB");"8O-KF;8^N@W`#)=I]F+IX_Z`[V(J>\RP[GH.Q[EM81]L(;RY MK3/[,_ MO)6J!Y^]O7O[*YOS1\'X4B;`UYD>I0Y6*D)EA+=]A^V?\V'Z^B=RP>KW97J0CF7=HFU:6M5^4Y[95-6[9':U'YJ8JZ2AGZO2F:L_.7]-1C.)@G MX5?!8O"Q\/NGL(+=S:R1F=0.]QR%X;KDN['[D1,%TI?; MT`R1;WHQC6YNV]N54ZP9;EK47O^^,US/,1[\?&-S&JVFNP.IIN/[N`E!K-(" M/]T0*K4/0)OW3VW>Q]\C56&`N`./F>;#>JU?'H!MV8&3.HE M,VUKUL+C`CTX%%"%8AWA^B;T!'PCF^':'[[A&MC/)2;_VH0;VP[3Q:,P[658 M*_?O\)5E.PMN,CMVMQ4U=DQZ7!0)U?'.&KE3N&*]&V0ZR^2)!#3?6+W"`E*M`3_(2B: M[C3NSHC( M<=#Z$&@J=G#_*A8V,$[8\0Z_A-RA1TR?.AF*K$5"-I&'1);ML0',1H^JVH"_I4OV`NKX4]PA6Y)]8FY3D&P#R)4"_Z[G'*'@Y;2D!7"X\R' M%?YM&EIP7HBLB`P05K=V-LE`-XHFF&QNFL`*NBJYK;Y'SIOZGA^4[O9V>`2E M:>_\5*H$]]`+DHN`U5!DOHD=1<0CD>/11D]K3O(AG@`KB1&&5&L@JZ!M7=3B M\">/CMX,DY#*,5J@_^#)J"A"OTHEB^^>4OV6C]*K:0[\JZ`YA(EN3*?0M;0M MZX=5,?$G#ITOMZE3.F(.1$OI`]F%^31`XX90V8XJP[ZVA%N%V7'0;79Q)P1H M=N"`89M%LL!^XA[(J-M^.B`Z_'-S#G#D`;/NI]-;"=H2Q++4(T';48A.QHTJ-2#]YSAI2U-O>C>2;T\V&(UWNK(UQ''8\GSX;3!(?6L_ M:9KAVK,<6>+3-%K:/-:99HD_&SN<9\[TYNO%]'8XYTN,M=>>SQELXM]4"^QA M)]$*Z/"1_5:5R)-K/>V4`(NJJO`^CK?:+285>0J:EY4'Y[:I"\=5SV=3H^RY M7BI`^K$Z9R>3CG6]+,]V#E2D"W]:8='1V(`&U`@&(^: MN2%_D,$J>,#,(T?8>":,L4H@9QA*A(]P%;_T(+QO>(*\X,[OT!!&WAB:L>18 MI!'Z1E(6&_W",$R#78COAJV7H8ET$\0!"BV8YC M@P+#J(1+)%:%7IDFVLG-\Q*E32P71F"L%+:J&7GPS[6Y/)R':885D`K>6K-% M9!*4]1:6+O@C!O[8:_RQ18SC8?R1&Z94YX8UQ5@T%2AQ+>,"H&43L/RVF;<# M2*QG[+NQ")O&2<)XL_6P0IR0GH5A[3T9A2!X=AMAH&)NP+`Q.L-W%6<'(]T* M\\/?`3XPPYX,,?+FCNW/5&!#!*2Y`=@[VGREHL[6']E,7JGVY'>S.2(4M";C MZGR+ZRC@T/`?ONW)"!<9-2-#*3QX-Y@G%=2A`J^T,%++C?(H^E87'S$@D'6C M<_9JS9D80K/7_SZD02/]K4;4L&#P`MK!W]=)#@Z!(%'C2#/&[;@_/*FU20M[ M/X;SMK[0VON1_<\60TA$([*5A#VXNPEM7-J.#&<"]8'2N=46]N7-;:48E9A$ M%+?JZ[">9+8&&@1?<_WI%#0JJL"I(T"L+6TE.?'1-OV%0.:3P5RZ6*O>B,)@ MMC(;ULS&7QZX:TCYQ1P=0/$,8X6"""TWHMT6OH>!4%/?PDV<3]ZN9TTI8N`96T:V@?:VGM-FE^P![":^$X3# MZ0;8'@\M'7+/YM-&.QUCWDW@A=10JV4TT8J*/(Z(0#2L+QR59/?5$@4'N@P( MPE0PW)$]`^,HZI4#@V^[:"B#.&092.IAO",,R_71IK@R)A:4YRKZI`R(VS`[ MK$"6M@HJE!%YZ&/!K,D>Y!!VCJI8I:M!`[.-66CJ M0JHPKM+6I9P&#DS0F&H@\B9(XC?N;+2/$ESN!3@>E45=@`.(>ZB(GP"5H0+7 MI\9WB3E\*[;&HT*I'>.12_8P9'R[$EH9N^MZ0:BYQEWP4<":@##K,T%">Z+0 M]K>$]@XZ-D`O<^F9*I<4G2T4@8W_:`K7W6(&9$_[X3>A9-BU?4?#&4@I>?V( MH9'<'%"$YL*07J@;(1>&Q6=J*?";K\]4>+H39F"27+86OKF0_&>*[Y(,UU_3 M'@B,C#NV0>(XQL6&_E\8)"]V')NCW'[]]6Z'36<^*`T0;=01GH_V&-PN;KFG M,_J'^Z_$W,\R-W*<\B[EH@W9U&7HC<"L`B<]K)27*ODJ6((=<&UXNB2R?W6CL M.#2.UTVLJ#NOQ@F]2>E11,-;4=$)5IV'UW1M]B6`P'7#VTHR\=FZ`4VNJ'BP M>/;1)`5]/=5N(,:`8RBNX9)KP<$3G$Y!(G<6P]!+I*TCLQ*L9@P9XJZIKIZ9 MY6#%0MG1CJ8_&I=^[3']Y=-)-%G;(/\+O(67M+[VV&8C-.VA7QDIH^N>Q"#^ M-,O7OJZ-0V3Z@J.3`Q'M1=S4'A!$FXE"O!;VUG*V%?V M3CQXY'LUS(H6Z9F.$Q6D;SHL-62:(EVO&$Q3DY/6T_1[:]@>#PO2\3N:G=VX MKJ_R2-YYLAI>$*GRBV5@:$[PY<7UU[M7+"$Y=_?__@C?R(RPFB3B@A_(15C\ MI=JSU2@$(H&8NN.JF35U)3ZO'8BFRFP-_=$"T:$U M3$I%538J1>KO[J!]R)C$_R?8)>YW1/B>!+>;)"Z-$F M58;P]0?YQ\94Z?9D52,7B+2&D5;^GF[50_VJU`O$E]W^Z4G*";[SX<%B+R'$8$+:V\MJ;R_B8S:,>4D#U`M$ MLD+$@XVP0K3=1Z01:>2R9>>R87F>0T>R["+BOAVX7U!KM4\'M+6![V+8GA#[ MT1%M23Y;K]L^.5MCVH).&9H*S@S]'R\^W-S]YY?/-_CZS8>;]^_^O_A%K,8JPITK=9Z4#S\*]L4PQ6IGH9W#0_Q;][5 MTYZ^[_<,5MC-P=N`QP0^.L",7(ZX]-[+QG$@\2#&U@V-^SQ7KVZ4)^2$1.&!0TJN`&0%MV8 M>>#CQ@F1N!0M+H?R3V2MMS/<5&NB3,G*A4&=V:*SKC>3J=^MBU05<+#<:"1E M)AHRGQ5(8%]32UFI`Y]$B4*KR(>Q,'O#35D`[6"UIKLMEJY'TE-55Q&*N_?"@[7(8B M6"B"A2)8&AG!4HF;$"F/'JAL?)R-3$H=D("58T]SDG"!(L[I&EEGFLK&9P8B ME8VGLO%E@TAEXZMRZEZIH;#R1UES2RG>YJ&P\6=$FHO-R='IYB3."I89, M4VSIW,QKDI1\TEHM_9ZB9'P,=LTR,NUL99Y`)!`I(5O%K!,5=J?"[K50?.>" M#JTRJ+#[R;!T^XGR:=*^;K*<)^#A?+O)PI;M"VQ8I^X M\SNFX/2X)HX9=5O[(!OBWS=U5*72%.FB/"#[B MP7)O=,5@0MK;RV9O+^)C-HQU2?[K!2+9(.+!1M@@VNXCTH@T+#FA+@N]BTNX1^]$1;5D^VR113%"&R=#-)PL$9-G6F@]JD5I] M5+K3<9RV[JC"M#4RJ6W";"5)CXF)!XD']V#9Y%+`#`J95#M/>%UX5`2^!4$@<2E:'$YE&DD:[V=X7J_B3)UK7G&(^98-2Q6=&[]J,`UAZF3791- MB60CU4.LG$-D/I^][Y>\3$%-+66U=Z+KRH?9E3/M9)ZW.C>34OU:H*?ADQ<_ M%5KDLSL\?4.]^78A%G:WOJ/-N2O<2X9YE^`?`]:L**(NXQ;X(<+S3+$`4P\_ M6<)K2+WA\U$>+W-()]$(K7$Q:0_3>I/GMKI,4IJ->0ZWW*EP7&@K_Q50_E_VM4_N7PNJ8+41IUT0(JDMV6V]-B#[>C"P<B]:VW"?N7Z]>7?_L\IM?H@_DJFIK%8+SV`EW<%#BXEC M$A4=8$::-"Z]UU_OV#?A".8(7<`"36>Z+\_"4+#8<%L&\`;-Y;K.;['/%,M\UL<2[OB$/P4)UX3+3&5\N'?N[?,F53:PU#5_8ON6U&8I&I+5IP(.*!-FW8K$'C@P+-/[AVTC! M0N4>7#H&,G7XFLL7`OG,-1:&"5QL'!M]]8QR$<%P60:P5W#)D?:4ZZ#4Y.\[ MAQ-9Q)6`P@]BWX8"?RT%OC@TN]MHEC7^C5[.>O_P7*4TP[/H"M]RB_)OI_^VYKQOGR!USMR,5. M<+4"5]`WUM+WW'>&JYDV?GD+^'/S,-"(>6OHHIK.HZG4YO].+U1^[,!+L&901/RHTJ M^]SG!X%:7WJ0[6Y+\34^`$G;T1%OP% MGJBP7-S/P\W:+[A/"[ZIZSG",]24L%N36RYKL?&@UQZQ_V;I&@AA";E`OH'[ MW8Z88T./`IQE>R&"7H).9!/7.FZG8I.?A?=E>L^_WPK'L'5XP0$6@E?4OUM8 M=J)8MH;[8,(3KUO=R43^N>'.'.BB*3@V!<,7KT>].DQ`?PC&J\6^"H_+!MYS MQP+A_BJA;;97_BFM,WJ M^2U"F:(TDWE,UF/U)K=7'UM&DYQTDL=UL987(X7XP631RF5F;^19[2U?J4/@ M3.8Y>;?5F^Q^#=0U37/J:9Y4?YH'HVZ[U]I:]V8RCT^U6[V)&M!$U6.BK@J; MJ+D[&Y2G\;JQ'H5IP=W$)5=$'V[EU;$T(W?W@V`OYGGH-E@]!L@0#VHPU M9MS6:G7[.ZY!S"ZK-RS<'A@W;E"=%Z^O=KVXI*,*7%9@5?;^.]I`L3L6]00\ M$/P>"G]L_AH,=OGK2--%$X=F-HC&I]38IP M/QF6[1C>:MU^;![I=J^ZP5`SHJ'6D"!G7G6'A,B6.'1[HT%.D-R"N7;8OS$T M_2N&NT._6'9\5[+?@IF'MASU,QY6?1#"59_62X;8S!^1[U,Z*)]H:5Y'.ZJI M)J1WDN/]W#80LN+N""+O'',H\;70;XS)/%WPWGK]79\@9I_5'5]WB.-3,I_! M^'ZQ@-_DGOO=E]O@_'5W/.$S^$AP0AM[2OJC79]BO]5"B4(_?'QP3/OQ_4$L#!!0` M```(`'5`4#Y;,ZC1$0\``'K4```4`!P`86QE+3(P,3`Q,C,Q7V-A;"YX;6Q5 M5`D``R[+6TTNRUM-=7@+``$$)0X```0Y`0``Y5U9$,*"(9`EP,1A+SZQ>8BW/@FH,>P'F)(TX?Z.X/ M5^/Z^//K)IP\`Q)!C#X=G;PY/IH`Y.,`HJ=/1X\/E].?CG[^]]__]O$?T^GD M"T"`>!0$D^5N"R=GQR=L?)],I)PTA^N,#_\_2B\"$R4?1 MA]<(?CI:4[K],)N]O+R\>7GW!I.GV=OCXY/9KU^O[_TUV'A3B"+J(1\<31C] MARCY\1K['DT*5V)_79(P%_!N5NB24O"_ICG9E/\T/7D[?7?RYC4*CK(B>B$H M='AA""AXX^,-XS]AMKT[R;D MR21U,\$AN`.K"?_W\>Y*9`#_-#O'*,(A#'CTSKR0B[E?`T"9[D0.W6V9]1'< M;$.0_[8F8/7IB+EEFON`N^L'J:A9SW+=4_;?#4!TL3KWHO5EB%^BGN43BARP MG%>LJFS`<(7,Y`U8PONU1\`:AP&KXI__%T.Z&ZZT`MGEDGO$SPN?_6^Y_`6V M(:*S`&YF&GV3MV@_9S[_-HPC0HB:%WA*$GXZJ/U)(N5G9CS,+ MBGL>$\)`)BQU[5NE\/FWJ@VE",])U1P&NUQ0AD!%$YQC-(HWFT3:%++*D/.O M"-XT/(O5I2Z5[,,D)9Q0/*FQQ!$CQ5M.Y85'$TQ8ETY-88+[=3;M*(2#:.`U;94@&U3B2'>T64$VF_4HG%^0$Y03/@ MXV<&1+'$!D;((ET+JELK`GD.\M;;\02D.IDK)JJE<6M$5L19D<55VB0+N2") M6Y?C1/0?O%>@#KV"(O.1B,+6H.NM,8BX4(@3Z84K1`%A\R9EQ-5$109?2&1K MW(UL,@B]3(X3&8=\[GP!EI)%.P5%WI$+*&P-NMX:@X@+A3B1<+C!5-.V*R@R M!XDH;`VWWAJ#<`N%.)%^2--CNI&ZAJJ23;1TS"X(O9E5!N&7"A)#X$>[(%!N MJZ39)S61H)FW(NLDF[.9&*./@!\P-Q(@R MU[/R/.63X/JVH4&%YAN-AA%J!1JUBPP'\6#K]8FA2N'$$$J[6*==GM,NR'U+ MM`V,("$F5?@:1K\8A8ZDU,_Q9H-14GSA:0K)Y_S@1/VS35@JXT)CAP85R<&( MA@0GXON(@$<0"#[?+VZ3TW7U96\Y0>8;`8&M4=;:8A!GD0R#OF$Z?JCGOA]O MN'4@2&8!#+%;`M8`1?`9I.=`KW$4W0"Z6+&)8G/1M`OW?C6U%;>M".KG!0-X MM5;@Q,3]#E`/\DK#J@[K&:.2E1=@!7W8G+F9,A33-RV#K9AJ;:L!C$QD.C'= M_PH1)LG`2SA+DWW./-7X;!,&^HYE-;8?:"3;U-IJ9O1Q5O?\-?O[T$?CFQ<> MC+N6">B^*:^O8HJ^Y>N7E6^CG^]902HPH/EA?W8G_S!>-12[%RN*7:E'%?;L ME$[!=K@!?^-^#/;#;_N"7#+3&-PI1#&KK8LMOS.'%2(Z`RM,LE%#LLU'TYH. M*+'86--?XGA@$6`"'\)+%8CME:9;=`90YL1,-+.(]S:2IE%!D2_G""C&@\^0 M0,$FYE=P-(#V9,%(I/4;MW0/F'IA49`[\`Q0(Q.EI,GW=@IIQ@.(*J+8S*1* MR`7RDAV>8CE.M`K9^A0(YBAX1"3_2P.&EES5)4`MUWB`42,"=S6\`B*ACM)2 MH5ZV$\`ZCR/*Z@BY`ZL8!7S679]2E=-9V5::FF717"EF6`N`<1W2QNF`V1!3Z M13OY.00^)="O-R-FU,42FIIZ/$CH8X[;&EN!AU1^NMRFD>M$)R0U\:L'V1@< M\?L<66^['[*;MB@Z?EU+(^6W'&Y]'6(.P`Z:G-A"(K7K`FP)\&$:;!3,-SQO M_&?RIRDJ#43H@*D2X2HVS=TR`#R5RIQ83+QA$JHC!_%P2TM7G`J2T7TWJ2-3 M5QPB@:30[42#F-LB!IGD:^U+/+ MRUKQ"!=%[+O8S!`K[0UO@R`CZ4XT(,D^'M-.RXRX?'K%QN[+"$&M3#6'CDZL M$V.#GNC;X_:/UICX[<"J M?.=!PCIZ8\&+R1K`9\A"?K9[C``K8S';G_L4/HNNL6O/N&\>3!G':Q0]#2>QS>\Z]+:1>"/\$0;IR(SR=>!#9.>X&E>T<=`_H MV3[H'[983J0#C%(;R?F>"\A]R-RP(!;@D7`X02VR4^I!;I6/P;W88]* M,419G$AR?/$@XF8NT#T;*2U6I>O2:Q`WH,S\KJ)T#93F5O=`FU*)$T?$YL\> M#),=9)AP&^Z!S[H,;M\7P@R[`VE7D1O:?'^FNX#\=&M[`:YAL;>/>D"TBVXG M+CDLK\77,"GZ5-QD5OKD&HX4=O5`2%6J$[<;\BOZ[D"R:8U?'0&3;IWO@9VC M@'^[BJ*8#X7Y"+?>'7;B+=#3AM<]>'7W3"_\M5(K!NB_;`-H>F>@V5*4(77M M,D;[EJ:ZPJZ-];V`IE$DAM9/=D$KN3?ES(N2VL+++^H!U43%RXU"(M?P8V1K M#]C(Y(O1[F8JX1K12!95KW$2>W?%"$5=1($&7?BD/-B.S)[WPTF0TB\THC M3,'V$R+%H)$0]\'9P5>#HM9,OP3.EBT;R%O][*43XVZ[1J_MJG-Z]_&H]L!! MNN1"E01E0ZPJR.Y)JA6I*+OV@9E.O%(:1YB!4+8!?.E68PB]K]XY(@)2OLZ:@2NP4)DHYU[/#]OMB'> M`9#<&KMX08!$:[B]#3W$;STOIY#%A]@Z\V?!;L_O&A;Z>JA'0]%!=;$N8-6S M/TDG>[5A\UK"EUO/UQYY:O10:J)\_XZ8R#50R6RULY&1V)CN<>QP@D7!J#[! M(F+\;DZPZ+URB!,L0JUV;L=F1?JC.:MU[9`* M5+B77TSZ-8'V;'6RA58WSMID%R$^X+G/:B,!YM!LSYDCLP6G<\#L[)4^N&RC MU(V3Z@V3S.Y*:#0%$29(^5WZ%[N-E!`/H MD?KY0#51D5D2$KD&#B-;>T!!)M^)(Q\YCED+6N[VDXR7?@+1D;O6')ERNP:\ M?MX9H'$R5FQPQL/&SI(9Q^;Q=,=3+I1-MG@;O-TTUQ[;,\HZ3#FCJ^!L[9,A M.TV%3H.C)S9`LC%58K\$_'#U,Q"N-9HS2.>W#0;GH-?6!X/.99NZG#A$(C'[ M$O+[D3LD^12,ZB2?B/&[2?+IO7*())]0JYTGSD%S M)Z:WKK5380:W]X!)8R=066_L)*K/9*0N8:E@SM[8$@N88#YLL.,!==K'1' MS`TH:[--$:5K"#*WND\SI%)BD'ZS"T?Y%42*P901<1--(F*'`:6W?1A,"?4X MDBHK==#EIO8&4R`YW-&&13"*DK(X![3V?AAH)"77UNH>EM%O/D[.R*]QR`H9 M91<*CORHW&;+"@10!)^S-U:22]\>O-=:'3"@+!Z3DU.._82>M&3LKS`.&`9O M^5-%K`:VOQK]0-+U7NTD?<2\E`&2\*'=6M4(_,V" M8EKKNIA3/,MR$#.<2`[*S+\#?NA%$5Q!/T5J\'N<;LO(=H>Q@4GAAM3W?%Q6 M/$31LB8/K4Y3HP=3]Y>JV0<*TE@U?#ASW-@=*?/#!5A!Q*96Z55M?/-`M'=% M;J31$R<'U*"IT'TT_*7J\'"A&*O:]K+`B?O''7V\Y(!H-GOAY``@U#^#(MF! M*DT;91_X?Y8,DNR7_P-02P,$%`````@`=4!0/O[I`3<.!@``S#X``!0`'`!A M;&4M,C`Q,#$R,S%?9&5F+GAM;%54"0`#+LM;32[+6TUU>`L``00E#@``!#D! M``#=6VU3VS@0_GXS]Q]\Z6?C!(Y>8>`ZH4"/&5H8H'?]UE'L#5$K2SE)AG"_ M_B2_!#N17Y+(Q.5+L*W5[K.[SZYEV1R]GX7$>0`N,*/'O<%.O^<`]5F`Z?UQ M[\O=N?NN]_[/7W\Y^LUUG8]`@2,)@3-Z+ M$DQ_'.J?$1+@*/U4',X$/NY-I)P>>M[CX^/.X]X.X_?>;K\_\+Y^NKSU)Q`B M%U,A$?6AYRCY0Q%?O&0^DC&XW/39B)-,P9XWMU4JH<_<3,S5E]S!KKLWV)F) MH)="U,,-C&3BT_Y<."^X'Y\%,A.;+:E-71\<'!QX\>A<5$W$%0CFT5%!=IPD MS)P1N(&QH_]^N;F8ST:$@(0=GX6>'O(^,"H8P8'.WJU4OR%0>36^G2`.$T8" M18"S?R,LGQ286+%\FL)Q3^!P2B"[-N$P/NXAHB,X4`E/XO>FN6XOAQQQ/P.? M'N;QSSW'5'H!#KU41CM6#[$DA%EN-`'V8^A:FP50ZABHKB`W@#&*B+0(<5FW M7<`L1)BV@S=1;0-NK,D-(1P!MXFUH-<"T(G"Q/UH!.X\#!;AFK3G02N"8(IU ML[Q4IP6[,)-``P@RRQJMA681&\_,$^87;!+=N1DW.BO1C%$68A")SY'P(N'> M(S35KA]X0.3\B@[`@=L?I/WZ37KYVQR:\A8NU*'(3!$T`G+<*Q>06&K_#0)> M-URZ0Z-GFBRZ4QA<="49++KQ3(PA+SJDB)LI2CF\4@L>QBEHVR;2:]HK,MD*"89K::@T8^Q!H+7#!KBH32P*9Z-B(%IFR7#0MH3PNW MW)0%E3)I<,PR;6:];)VPD/+*Q+)FSADS;U*LB5"B\-41X-MNERA07-O:X,"2 M?RVP8,HQXTI.$6%.B=VM4^(&I`(+P1GB5#UKBT^%M6W*B6JA-&0E0JURPK0> M3_A07>JLH4]Y&A@UZO27:>IJ%QCZ?A1&1*^JK^0$N'9)+:AU=3W`!57+;S"R M8.5Y:1";S^LJ5];UO!%]5E!N9M3VF\@IC(%S"#1TA3O>)XN?TDZ0@.`:/>GN M:6XMZTQ-H[O2U*Y2:P/_&[%K-?UF@NUMG6`*?:AP2^;_,+*H=#P-U?)X5_E0 MYTFCI!N4F#/[^]8S&X,T[OS.'TL7!986:P8=6TIOW0Y$K2M-]B&6`];5^X+A M5O89Y-7X#LW4&8GTVYUKQN/$2,GQ*)+Z$?N.?694;ZBH<"M@]Q=4`@6YA;1BI9-,?9F0UI.]-1Q=O=%=QF2T5I<6*J:@_RTG(5^7F#E05X.;`?[8[ MW0WX!`F!QSCY5&L8?(^$U(O*<\9O$8&K\;/G2=\#%5KE<+$E-BQ/V^9JRM2: MN5==KBTEY>7*UIX#/]M=]53'&((3H.I`7A-$Q;/SU8%M6+$6+-04Z2867G5= MV@O]RY7B1IB[NL-@^5&@W;VX=O?@7D?%M1MR^]5F'6]77VW,;\DZ/FO4TMKS MT]2M/K^3>]&;AJ%^EWD-"UWE7$5Q->_4S;MN-QG3W+6-WD"4L6!_^RQ(/BA1 MB,_&8_`5W`OM)2+#($&KGB'.A[>#_7>+I%AY8L:1YA.[29EU'6_`H!54FPGU M=NN$BE\Z7P@109#?*OH;D4B5PV,\LOP]^0IS\F_R:^=TDD'KN-OP;7^]5C-O M_M@Z;T[Q`PZ`!B+W1D6]D@;-HT)))XED)2";M9&UL550)``,NRUM-+LM;375X"P`! M!"4.```$.0$``.U]:V_=N);EYQE@_@,G,T#G`G&>W8.JPBTU'#NNSK0K]MC. MO=TH#`+Y'!Y;7;+HEG2<^/[Z)O6D*#XV14J44_=+XB/MO4EQK[7Y)O_\S]_N M4O2`\R(AV<_/WKQ\_0SA;$.V27;S\[//5R<'/SS[Y^A__/<__\^#`_0+SG`> MEWB+KA_1R?X_DK+8HW_[:YQMT?O7;][^'W1PP$33)/O])_;/=5Q@1.UGQ4_? MBN3G9[=E>?_3JU=?OWY]^?7=2Y+?O'K[^O6;5__VZ^GEYA;?Q0=)5I1QML'/ M$)7_J:@>GI)-7%:9X]2_7>=I:^#=JRXMI03[=="*';!'!V_>'KQ[\_);L7W6 M9#%.<9=&G*:XQ"\WY([JOZ'?]NY-*\:L`/+2BK.WB4:>^^1:?F2_*:HW/_[X MXZOJ[3-:R/^M+N69X)\]RFN>UK<8**\H?#FAIUD7YOUKCK_HL M5JF>TK\&">)O)9SW%!]OE&-%[])TT=5&),6\B3U.)=2A-DC,?9P>?+9RC92@6C M]A=B/__\JL^I^&V'^=`W<;YI\T'_-.2]D7BU(908]^7!X#-V.;E3%#K1E1?_ M^3\A7@*5!$GT7@6"VB'-P9;EXB2-;P0X2-\U7S9\YX`V:2)N