REGULATORY MATTERS (Tables)

6 Months Ended

Jun. 30, 2024

Regulated Operations [Abstract]

Schedule of Regulatory Assets and Liabilities

The recovery, refund or credit to rates for these regulatory assets and liabilities will occur over the periods either specified by the applicable regulatory authority or over the corresponding period related to the asset or liability.

NOTE 2. REGULATORY MATTERS (Continued)

Regulatory Assets and Liabilities	June 30, 2024	December 31, 2023
Millions
Current Regulatory Assets (a)
Fuel Adjustment Clause	$5.4	$8.7
Other	0.6	0.6
Total Current Regulatory Assets	$6.0	$9.3
Non-Current Regulatory Assets
Defined Benefit Pension and Other Postretirement Plans	$215.9	$218.6
Income Taxes	83.3	88.1
Asset Retirement Obligations	38.9	37.7
Cost Recovery Riders	19.8	33.8
Taconite Harbor	15.8	20.9
Manufactured Gas Plant	13.1	13.2
PPACA Income Tax Deferral	3.8	3.9
Fuel Adjustment Clause	0.7	5.0
Other	3.4	4.2
Total Non-Current Regulatory Assets	$394.7	$425.4
Current Regulatory Liabilities (b)
Fuel Adjustment Clause	$12.9	—
Provision for Interim Rate Refund	11.0	—
Transmission Formula Rates Refund	0.4	$1.5
Other	1.0	2.4
Total Current Regulatory Liabilities	$25.3	$3.9
Non-Current Regulatory Liabilities
Income Taxes	$297.3	$310.0
Wholesale and Retail Contra AFUDC	76.6	78.0
Plant Removal Obligations	71.3	67.0
Non-Jurisdictional Land Sales	43.2	30.2
Defined Benefit Pension and Other Postretirement Benefit Plans	42.3	48.6
Investment Tax Credits	13.4	13.6
Fuel Adjustment Clause	3.4	15.5
Boswell Units 1 and 2 Net Plant and Equipment	6.7	6.7
Other	6.8	4.4
Total Non-Current Regulatory Liabilities	$561.0	$574.0

(a)Current regulatory assets are presented within Prepayments and Other on the Consolidated Balance Sheet.

(b)Current regulatory liabilities are presented within Other Current Liabilities on the Consolidated Balance Sheet.