Business Segments

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Business Segments [Text Block]

BUSINESS SEGMENTS

We present two reportable segments: Regulated Operations and ALLETE Clean Energy. We measure performance of our operations through budgeting and monitoring of contributions to consolidated net income by each business segment.

Regulated Operations includes three operating segments which consist of our regulated utilities, Minnesota Power and SWL&P, as well as our investment in ATC. ALLETE Clean Energy is our business focused on developing, acquiring and operating clean and renewable energy projects. We also present Corporate and Other which includes BNI Energy, our coal mining operations in North Dakota, New Energy, a renewable energy development company, ALLETE Properties, our legacy Florida real estate investment, along with our investment in Nobles 2, South Shore Energy, our non-rate regulated, Wisconsin subsidiary developing NTEC, other business development and corporate expenditures, unallocated interest expense, a small amount of non-rate base generation, land holdings in Minnesota, and earnings on cash and investments.

NOTE 11. BUSINESS SEGMENTS (Continued)

	Quarter Ended		Six Months Ended
	June 30,		June 30,
	2022	2021	2022	2021
Millions
Operating Revenue
Regulated Operations
Residential	$40.6	$35.4	$96.6	$81.0
Commercial	44.4	40.7	92.7	80.4
Municipal	10.0	11.5	22.1	24.1
Industrial	150.6	139.1	298.4	268.1
Other Power Suppliers	36.9	37.3	77.9	75.7
Other	26.2	26.4	50.0	54.1
Total Regulated Operations	308.7	290.4	637.7	583.4
ALLETE Clean Energy
Long-term PSA	18.9	18.7	44.3	36.8
Other	2.3	2.9	5.1	5.7
Total ALLETE Clean Energy	21.2	21.6	49.4	42.5
Corporate and Other
Long-term Contract	21.4	21.4	44.0	43.1
Sale of Renewable Development Projects	14.5	—	14.5	—
Other	7.3	2.2	11.0	5.8
Total Corporate and Other	43.2	23.6	69.5	48.9
Total Operating Revenue	$373.1	$335.6	$756.6	$674.8
Net Income Attributable to ALLETE
Regulated Operations	$29.6	$21.5	$81.1	$66.5
ALLETE Clean Energy	5.8	5.1	22.3	12.5
Corporate and Other (a)	2.2	1.3	0.5	0.7
Total Net Income Attributable to ALLETE	$37.6	$27.9	$103.9	$79.7

(a)Net Income in 2022 includes $4.0 million after-tax of purchase price accounting adjustments and $3.0 million after-tax of transaction costs related to the acquisition of New Energy.

	June 30, 2022	December 31, 2021
Millions
Assets
Regulated Operations	$4,370.9	$4,289.4
ALLETE Clean Energy	1,834.9	1,719.4
Corporate and Other	633.2	426.2
Total Assets	$6,839.0	$6,435.0