Business Segments

9 Months Ended

Sep. 30, 2014

Business Segments [Abstract]

Business Segments [Text Block]

BUSINESS SEGMENTS

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. Investments and Other is comprised primarily of BNI Coal, our coal mining operations in North Dakota, ALLETE Clean Energy, our business which acquired three wind energy facilities in January 2014, and is aimed at developing or acquiring capital projects that create energy solutions via wind, solar, biomass, midstream gas and oil infrastructure, among other energy-related projects, and ALLETE Properties, our Florida real estate investment. Investments and Other also includes other business development and corporate expenditures, unallocated interest expense, a small amount of non-rate base generation, approximately 5,000 acres of land in Minnesota, and earnings on cash and investments.

	Consolidated			Regulated Operations			Investments and Other
Millions
For the Quarter Ended September 30, 2014
Operating Revenue		$288.9			$255.8			$33.1
Fuel and Purchased Power Expense	88.9			88.9			—
Operating and Maintenance Expense	105.7			79.4			26.3
Depreciation Expense	33.5			28.5			5.0
Operating Income	60.8			59.0			1.8
Interest Expense	(13.2		)	(11.8		)	(1.4		)
Equity Earnings in ATC	5.3			5.3			—
Other Income	2.1			2.1			—
Income Before Non-Controlling Interest and Income Taxes	55.0			54.6			0.4
Income Tax Expense	13.4			13.4			—
Net Income	41.6			41.2			0.4
Less: Non-Controlling Interest in Subsidiaries	—			—			—
Net Income Attributable to ALLETE		$41.6			$41.2			$0.4

NOTE 2.  BUSINESS SEGMENTS (Continued)

	Consolidated			Regulated Operations			Investments and Other
Millions
For the Quarter Ended September 30, 2013
Operating Revenue		$251.0			$226.4			$24.6
Fuel and Purchased Power Expense	80.5			80.5			—
Operating and Maintenance Expense	102.7			78.6			24.1
Depreciation Expense	29.4			27.9			1.5
Operating Income (Loss)	38.4			39.4			(1.0		)
Interest Expense	(12.7		)	(10.4		)	(2.3		)
Equity Earnings in ATC	4.9			4.9			—
Other Income	3.3			1.2			2.1
Income (Loss) Before Non-Controlling Interest and Income Taxes	33.9			35.1			(1.2		)
Income Tax Expense (Benefit)	8.7			10.5			(1.8		)
Net Income	25.2			24.6			0.6
Less: Non-Controlling Interest in Subsidiaries	—			—			—
Net Income Attributable to ALLETE		$25.2			$24.6			$0.6

	Consolidated			Regulated Operations			Investments and Other
Millions
For the Nine Months Ended September 30, 2014
Operating Revenue		$846.1			$749.6			$96.5
Fuel and Purchased Power Expense	268.7			268.7			—
Operating and Maintenance Expense	340.6			258.6			82.0
Depreciation Expense	99.5			86.9			12.6
Operating Income	137.3			135.4			1.9
Interest Expense	(39.5		)	(34.7		)	(4.8		)
Equity Earnings in ATC	15.6			15.6			—
Other Income	6.0			5.9			0.1
Income (Loss) Before Non-Controlling Interest and Income Taxes	119.4			122.2			(2.8		)
Income Tax Expense (Benefit)	27.1			29.6			(2.5		)
Net Income (Loss)	92.3			92.6			(0.3		)
Less: Non-Controlling Interest in Subsidiaries	0.4			—			0.4
Net Income (Loss) Attributable to ALLETE		$91.9			$92.6		$(0.7)
As of September 30, 2014
Total Assets		$4,067.9			$3,519.9			$548.0
Property, Plant and Equipment – Net		$3,121.5			$2,888.5			$233.0
Accumulated Depreciation		$1,316.6			$1,244.7			$71.9
Capital Additions		$467.6			$452.9			$14.7

NOTE 2.  BUSINESS SEGMENTS (Continued)

	Consolidated			Regulated Operations			Investments and Other
Millions
For the Nine Months Ended September 30, 2013
Operating Revenue		$750.4			$683.6			$66.8
Fuel and Purchased Power Expense	245.7			245.7			—
Operating and Maintenance Expense	311.2			243.6			67.6
Depreciation Expense	86.3			81.8			4.5
Operating Income (Loss)	107.2			112.5			(5.3		)
Interest Expense	(37.8		)	(31.5		)	(6.3		)
Equity Earnings in ATC	15.1			15.1			—
Other Income	7.5			3.4			4.1
Income (Loss) Before Non-Controlling Interest and Income Taxes	92.0			99.5			(7.5		)
Income Tax Expense (Benefit)	20.3			26.5			(6.2		)
Net Income (Loss)	71.7			73.0			(1.3		)
Less: Non-Controlling Interest in Subsidiaries	—			—			—
Net Income (Loss) Attributable to ALLETE		$71.7			$73.0		$(1.3)
As of September 30, 2013
Total Assets		$3,463.9			$3,086.3			$377.6
Property, Plant and Equipment – Net		$2,456.1			$2,384.1			$72.0
Accumulated Depreciation		$1,225.3			$1,165.8			$59.5
Capital Additions		$186.4			$177.6			$8.8