Allete, Inc. (ALE) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments446969992897146
Cash and cash equivalents446969992897146
Restricted cash and investments      3
Receivables11296144135123121122
Inventory, net of allowances, customer advances and progress billings7473879610411781
Inventory7473879610411781
Deferred costs      16
Regulatory current assets      16
Deferred tax assets    8
Other current assets25313438403682
Other undisclosed current assets      (54)
Total current assets:255270334368295371419
Noncurrent Assets
Property, plant and equipment4,8414,3773,9043,8223,7413,6693,286
Long-term investments and receivables30119849535675116
Long-term investments30119849535675114
Accounts and financing receivable, after allowance for credit loss      1
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 assets481421390385360372357
Restricted cash and investments  9  85
Other noncurrent assets2072171031081078163
Other undisclosed noncurrent assets  153119136116115
Total noncurrent assets:5,8305,2134,8314,7134,6124,5363,942
TOTAL ASSETS:6,0855,4835,1655,0804,9064,9074,361
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities189234219204138151218
Accounts payable1101651501367489134
Accrued liabilities      27
Taxes payable59515150474439
Interest and dividends payable20181818181918
Debt   64188 104
Customer advances and deposits   20
Other liabilities6760129837486121
Other undisclosed current liabilities20421358  38(47)
Total current liabilities:460507405351400275416
Noncurrent Liabilities
Long-term debt and lease obligation1,5931,4011,4291,4391,3701,5691,273
Long-term debt, excluding current maturities1,5931,4011,4291,4391,3701,5691,273
Liabilities, other than long-term debt1,2321,0581,1761,2211,2441,2411,116
Deferred revenue and credits   10
Accounts payable and accrued liabilities      45
Accumulated deferred investment tax credit 32 
Deferred tax liabilities, net224231584580511
Deferred income tax liabilities196 
Liability, pension and other postretirement and postemployment benefits226173177192211207191
Regulatory liability52556051253212610594
Other liabilities285293263267323349265
Other undisclosed noncurrent liabilities 181    (55)
Total noncurrent liabilities:2,8252,6402,6042,6612,6142,8092,334
Total liabilities:3,2843,1473,0093,0123,0133,0852,750
Stockholders' equity
Stockholders' equity attributable to parent2,2952,2322,1562,0681,8931,8201,609
Common stock1,4611,4371,4291,4011,2951,2711,108
Accumulated other comprehensive loss(31)(24)(27)(23)(28)(25)(21)
Retained earnings865819755689626573530
Unearned esop shares      (7)
Stockholders' equity attributable to noncontrolling interest506104   22
Total stockholders' equity:2,8002,3362,1562,0681,8931,8221,611
TOTAL LIABILITIES AND EQUITY:6,0855,4835,1655,0804,9064,9074,361

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues1,1691,2411,4991,4191,3401,4861,137
Cost of revenue(687)(796)(957)(850)(782)(942)(492)
Cost of goods and services sold(67)(81)(218)(148)(145)(302)(356)
Gross profit:482444542570558544645
Operating expenses(331)(264)(341)(340)(334)(334)(456)
Other operating income, net  2110  
Other undisclosed operating loss  (2)(1)(10)  
Operating income:151180201230224211189
Nonoperating expense(29)(1)(43)(43)(48)(44)(27)
Other nonoperating income151982459
Interest and debt expense(66)(65)(68)(68)(70)(65)(55)
Income from continuing operations before equity method investments, income taxes:5711491119105102107
Income from equity method investments      20
Other undisclosed income from continuing operations before income taxes66656868706535
Income from continuing operations before income taxes:122179159187176167162
Income tax expense (benefit)40716(15)(20)(25)(37)
Net income:162186174172156142126
Net income (loss) attributable to noncontrolling interest130  (1)(0)(1)
Net income available to common stockholders, diluted:174186174172155141125

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:162186174172156142126
Other comprehensive income (loss)(8)416(4)(3)(4)
Comprehensive income:154189175178152138122
Comprehensive income (loss), net of tax, attributable to noncontrolling interest130  (1)(0)(1)
Comprehensive income, net of tax, attributable to parent:167189175178152138121

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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