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CONSOLIDATED STATEMENT OF INCOME Unaudited - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating Revenue        
Contracts with Customers – Utility $ 279.8 $ 292.2 $ 618.1 $ 604.8
Contracts with Customers – Non-utility 73.5 239.9 137.2 490.9
Other – Non-utility 1.2 1.3 2.5 2.6
Total Operating Revenue 354.5 533.4 757.8 1,098.3
Operating Expenses        
Fuel, Purchased Power and Gas – Utility 107.3 107.3 240.8 225.9
Transmission Services – Utility 1.6 23.5 24.3 43.6
Cost of Sales – Non-utility 31.8 193.2 56.2 403.7
Operating and Maintenance 102.1 84.9 193.8 170.6
Depreciation and Amortization 66.0 62.8 131.0 125.1
Taxes Other than Income Taxes 16.3 8.2 35.0 27.6
Total Operating Expenses 325.1 479.9 681.1 996.5
Operating Income 29.4 53.5 76.7 101.8
Other Income (Expense)        
Interest Expense (20.1) (21.1) (40.5) (40.4)
Equity Earnings 5.9 5.4 11.4 11.4
Other 5.9 2.5 14.5 6.6
Total Other Expense (8.3) (13.2) (14.6) (22.4)
Income Before Income Taxes 21.1 40.3 62.1 79.4
Income Tax Expense (Benefit) 1.4 (0.4) 5.4 1.1
Net Income 19.7 40.7 56.7 78.3
Net Loss Attributable to Non-Controlling Interest (13.3) (10.8) (27.0) (31.4)
Net Income Attributable to ALLETE $ 33.0 $ 51.5 $ 83.7 $ 109.7
Average Shares of Common Stock        
Basic (in shares) 57.7 57.3 57.7 57.3
Diluted (in shares) 57.8 57.4 57.7 57.4
Basic Earnings Per Share of Common Stock (in usd per share) $ 0.57 $ 0.90 $ 1.45 $ 1.91
Diluted Earnings Per Share of Common Stock (in usd per share) $ 0.57 $ 0.90 $ 1.45 $ 1.91