Allete, Inc. (ALE) financial statements (2020 and earlier)

Company profile

Business Address 30 W SUPERIOR ST
DULUTH, MN 55802-2093
State of Incorp. MN
Fiscal Year End December 31
SIC 4931 - Electric and Other Services Combined (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments696999289714697
Cash and cash equivalents696999289714697
Restricted cash and investments     3 
Receivables96144135123121122115
Inventory, net of allowances, customer advances and progress billings7387961041178159
Inventory7387961041178159
Deferred costs     1623
Regulatory current assets     1623
Deferred tax assets    819
Other current assets31343840368212
Other undisclosed current assets     (54)(42)
Total current assets:270334368295371419307
Noncurrent Assets
Property, plant and equipment4,3773,9043,8223,7413,6693,2862,577
Long-term investments and receivables19849535675116280
Long-term investments19849535675114279
Accounts and financing receivable, after allowance for credit loss     11
Intangible assets, net (including goodwill), including:1223226213215 
Goodwill  148131131  
Intangible assets, net (excluding goodwill)175788285  
Other undisclosed intangible assets, net (including goodwill) 149    
Regulated entity, other noncurrent assets421390385360372357264
Restricted cash and investments 9  85 
Other noncurrent assets217103108107816369
Other undisclosed noncurrent assets 153119136116115(19)
Total noncurrent assets:5,2134,8314,7134,6124,5363,9423,170
TOTAL ASSETS:5,4835,1655,0804,9064,9074,3613,477
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities234219204138151218135
Accounts payable1651501367489134100
Accrued liabilities     27 
Taxes payable51515047443935
Interest and dividends payable181818181918 
Debt  64188 10427
Customer advances and deposits   20
Other liabilities6012983748612153
Other undisclosed current liabilities21358  38(47)16
Total current liabilities:507405351400275416230
Noncurrent Liabilities
Long-term debt and lease obligation1,4011,4291,4391,3701,5691,2731,083
Long-term debt, excluding current maturities1,4011,4291,4391,3701,5691,2731,083
Liabilities, other than long-term debt1,0581,1761,2211,2441,2411,116832
Deferred revenue and credits   1011
Pension and other postretirement defined benefit plans, liabilities133
Accounts payable and accrued liabilities     45 
Accumulated deferred investment tax credit32 
Deferred tax liabilities, net224231584580511479
Liability, pension and other postretirement and postemployment benefits173177192211207191
Regulatory liability5605125321261059481
Other liabilities293263267323349265127
Other undisclosed noncurrent liabilities181    (55)(11)
Total noncurrent liabilities:2,6402,6042,6612,6142,8092,3341,904
Total liabilities:3,1473,0093,0123,0133,0852,7502,134
Stockholders' equity
Stockholders' equity attributable to parent2,2322,1562,0681,8931,8201,6091,343
Common stock1,4371,4291,4011,2951,2711,108885
Accumulated other comprehensive loss(24)(27)(23)(28)(25)(21)(17)
Retained earnings819755689626573530489
Unearned esop shares     (7)(14)
Stockholders' equity attributable to noncontrolling interest104   22 
Total stockholders' equity:2,3362,1562,0681,8931,8221,6111,343
TOTAL LIABILITIES AND EQUITY:5,4835,1655,0804,9064,9074,3613,477

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues1,2411,4991,4191,3401,4861,1371,018
Cost of revenue(796)(957)(850)(782)(942)(492)(335)
Cost of goods and services sold(81)(218)(148)(145)(302)(356)(335)
Gross profit:444542570558544645684
Operating expenses(264)(341)(340)(334)(334)(456)(21)
Other operating income, net 2110   
Other undisclosed operating loss (2)(1)(10)  (508)
Operating income:180201230224211189154
Nonoperating expense(1)(43)(43)(48)(44)(27)(21)
Other nonoperating income19824599
Interest and debt expense(65)(68)(68)(70)(65)(55)(50)
Income from continuing operations before equity method investments, income taxes:1149111910510210783
Income from equity method investments     2020
Other undisclosed income from continuing operations before income taxes65686870653530
Income from continuing operations before income taxes:179159187176167162133
Income tax expense (benefit)716(15)(20)(25)(37)(29)
Net income:186174172156142126105
Net income (loss) attributable to noncontrolling interest0  (1)(0)(1) 
Net income available to common stockholders, diluted:186174172155141125105

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:186174172156142126105
Other comprehensive income (loss)416(4)(3)(4)5
Comprehensive income:189175178152138122110
Comprehensive income (loss), net of tax, attributable to noncontrolling interest0  (1)(0)(1) 
Comprehensive income, net of tax, attributable to parent:189175178152138121110

Statements sources

The financial statements are based on the company's filings with the 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.

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