Allete Inc. (ALE) Financial Statements (2026 and earlier)
Company Profile
| Business Address |
30 W SUPERIOR ST DULUTH, MN 55802-2093 |
| State of Incorp. | MN |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4931 - Electric and Other Services Combined (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 9/30/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 33 | 72 | 36 | 45 | 44 | 69 | |||
| Cash and cash equivalent | 33 | 72 | 36 | 45 | 44 | 69 | |||
| Receivables | 148 | 137 | 138 | 124 | 112 | 96 | |||
| Inventory, net of allowances, customer advances and progress billings | 155 | 175 | 456 | 98 | 74 | 73 | |||
| Inventory | 155 | 175 | 456 | 98 | 74 | 73 | |||
| Regulatory asset | |||||||||
| Other current assets | 100 | 84 | 88 | 25 | 25 | 31 | |||
| Other undisclosed current assets | |||||||||
| Total current assets: | 435 | 468 | 718 | 291 | 255 | 270 | |||
| Noncurrent Assets | |||||||||
| Property, plant, and equipment, after accumulated depreciation, depletion, and amortization | 5,182 | 5,013 | 5,004 | 5,100 | 4,841 | 4,377 | |||
| Long-term investments and receivables | 340 | 331 | 323 | 318 | 301 | 198 | |||
| Long-term investments | 340 | 331 | 323 | 318 | 301 | 198 | |||
| Intangible asset, including goodwill, after accumulated amortization, including: | 155 | 155 | 156 | 1 | |||||
| Goodwill | 155 | 155 | 155 | ||||||
| Intangible asset, excluding goodwill, after accumulated amortization | 1 | ||||||||
| Other undisclosed intangible asset, including goodwill, after accumulated amortization | 0 | 1 | 1 | ||||||
| Regulated entity, other noncurrent assets | 372 | 425 | 441 | 512 | 481 | 421 | |||
| Other noncurrent assets | 271 | 263 | 204 | 214 | 207 | 217 | |||
| Total noncurrent assets: | 6,319 | 6,188 | 6,128 | 6,144 | 5,830 | 5,213 | |||
| TOTAL ASSETS: | 6,754 | 6,656 | 6,846 | 6,435 | 6,085 | 5,483 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 192 | 174 | 193 | 196 | 189 | 234 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | ✕ | 20 | 20 | 18 | ||
| Taxes payable | ✕ | ✕ | ✕ | ✕ | 65 | 59 | 51 | ||
| Accounts payable | 114 | 102 | 103 | 111 | 110 | 165 | |||
| Accrued liabilities | 78 | 72 | 90 | ||||||
| Debt | |||||||||
| Other liabilities | 118 | 92 | 251 | 133 | 67 | 60 | |||
| Other undisclosed current liabilities | 95 | 111 | 273 | 214 | 204 | 213 | |||
| Total current liabilities: | 404 | 378 | 716 | 543 | 460 | 507 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,705 | 1,680 | 1,648 | 1,763 | 1,593 | 1,401 | |||
| Long-term debt, excluding current maturities | 1,705 | 1,680 | 1,648 | 1,763 | 1,593 | 1,401 | |||
| Liabilities, other than long-term debt | 1,255 | 1,192 | 1,133 | 1,182 | 1,232 | 1,058 | |||
| Accumulated deferred investment tax credit | 32 | ||||||||
| Deferred income tax liabilities | 253 | 193 | 158 | 186 | 196 | ||||
| Liability, pension and other postretirement and postemployment benefits | 118 | 161 | 180 | 180 | 226 | 173 | |||
| Regulatory liability | 571 | 574 | 526 | 536 | 525 | 560 | |||
| Other liabilities | 313 | 264 | 269 | 281 | 285 | 293 | |||
| Other undisclosed noncurrent liabilities | 181 | ||||||||
| Total noncurrent liabilities: | 2,960 | 2,872 | 2,781 | 2,945 | 2,825 | 2,640 | |||
| Total liabilities: | 3,364 | 3,249 | 3,497 | 3,489 | 3,284 | 3,147 | |||
| Temporary equity, including noncontrolling interest | 0 | 1 | |||||||
| Equity | |||||||||
| Equity, attributable to parent | 2,848 | 2,810 | 2,692 | 2,413 | 2,295 | 2,232 | |||
| Common stock | 1,823 | 1,804 | 1,782 | 1,537 | 1,461 | 1,437 | |||
| Accumulated other comprehensive loss | (18) | (21) | (24) | (24) | (31) | (24) | |||
| Retained earnings | 1,043 | 1,026 | 935 | 900 | 865 | 819 | |||
| Equity, attributable to noncontrolling interest | 542 | 597 | 656 | 533 | 506 | 104 | |||
| Total equity: | 3,390 | 3,407 | 3,348 | 2,946 | 2,800 | 2,336 | |||
| TOTAL LIABILITIES AND EQUITY: | 6,754 | 6,656 | 6,846 | 6,435 | 6,085 | 5,483 | |||
Income Statement (P&L) ($ in millions)
| 9/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,530 | 1,880 | 1,571 | 1,419 | 1,169 | 1,241 | ||
| Cost of revenue | (1,280) | (1,274) | (1,025) | (916) | (687) | (796) | ||
| Cost of product and service sold | (129) | (474) | (183) | (69) | (67) | (81) | ||
| Gross profit: | 250 | 606 | 546 | 503 | 482 | 444 | ||
| Operating expenses | (90) | (425) | (412) | (352) | (331) | (264) | ||
| Operating income: | 160 | 181 | 134 | 151 | 151 | 180 | ||
| Nonoperating income (expense) | (34) | 26 | (34) | (40) | (29) | (1) | ||
| Other nonoperating income | 23 | 85 | 22 | 9 | 15 | 19 | ||
| Interest and debt expense | (82) | (81) | (75) | (69) | (66) | (65) | ||
| Income from continuing operations before equity method investments, income taxes: | 45 | 126 | 25 | 42 | 57 | 114 | ||
| Other undisclosed income from continuing operations before income taxes | 82 | 81 | 75 | 69 | 66 | 65 | ||
| Income from continuing operations before income taxes: | 126 | 207 | 100 | 111 | 122 | 179 | ||
| Income tax expense (benefit) | (5) | (28) | 31 | 27 | 40 | 7 | ||
| Income from continuing operations: | 122 | 179 | 131 | 138 | 162 | 186 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 138 | 162 | 186 | |
| Net income: | 122 | 179 | 131 | 138 | 162 | 186 | ||
| Net income attributable to noncontrolling interest | 58 | 68 | 58 | 31 | 13 | 0 | ||
| Net income available to common stockholders, diluted: | 179 | 247 | 189 | 169 | 174 | 186 | ||
Comprehensive Income ($ in millions)
| 9/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 122 | 179 | 131 | 138 | 162 | 186 | ||
| Other comprehensive income (loss) | 2 | 4 | (1) | 7 | (8) | 4 | ||
| Comprehensive income: | 124 | 183 | 131 | 145 | 154 | 189 | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 58 | 68 | 58 | 31 | 13 | 0 | ||
| Comprehensive income, net of tax, attributable to parent: | 182 | 251 | 189 | 177 | 167 | 189 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.