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)

9/30/2019
TTM
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 investments1006999289714697
Cash and cash equivalents1006999289714697
Restricted cash and investments     3 
Receivables85144135123121122115
Inventory, net of allowances, customer advances and progress billings8587961041178159
Inventory8587961041178159
Deferred costs     1623
Regulatory current assets     1623
Deferred tax assets    819
Other current assets26343840368212
Other undisclosed current assets     (54)(42)
Total current assets:296334368295371419307
Noncurrent Assets
Property, plant and equipment4,2113,9043,8223,7413,6693,2862,577
Long-term investments and receivables18349535675116280
Long-term investments18349535675114279
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 assets393390385360372357264
Restricted cash and investments 9  85 
Other noncurrent assets192103108107816369
Other undisclosed noncurrent assets 153119136116115(19)
Total noncurrent assets:4,9804,8314,7134,6124,5363,9423,170
TOTAL ASSETS:5,2765,1655,0804,9064,9074,3613,477
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities212219204138151218135
Accounts payable1441501367489134100
Accrued liabilities     27 
Taxes payable53515047443935
Interest and dividends payable151818181918 
Debt  64188 10427
Customer advances and deposits   20
Other liabilities5912983748612153
Other undisclosed current liabilities21358  38(47)16
Total current liabilities:483405351400275416230
Noncurrent Liabilities
Long-term debt and lease obligation1,4051,4291,4391,3701,5691,2731,083
Long-term debt, excluding current maturities1,4051,4291,4391,3701,5691,2731,083
Liabilities, other than long-term debt9661,1761,2211,2441,2411,116832
Deferred revenue and credits   1011
Pension and other postretirement defined benefit plans, liabilities133
Accounts payable and accrued liabilities     45 
Deferred tax liabilities, net224231584580511479
Liability, pension and other postretirement and postemployment benefits162177192211207191
Regulatory liability5105125321261059481
Other liabilities293263267323349265127
Other undisclosed noncurrent liabilities214    (55)(11)
Total noncurrent liabilities:2,5852,6042,6612,6142,8092,3341,904
Total liabilities:3,0683,0093,0123,0133,0852,7502,134
Stockholders' equity
Stockholders' equity attributable to parent2,2082,1562,0681,8931,8201,6091,343
Common stock1,4351,4291,4011,2951,2711,108885
Accumulated other comprehensive loss(27)(27)(23)(28)(25)(21)(17)
Retained earnings800755689626573530489
Unearned esop shares     (7)(14)
Stockholders' equity attributable to noncontrolling interest    22 
Total stockholders' equity:2,2082,1562,0681,8931,8221,6111,343
TOTAL LIABILITIES AND EQUITY:5,2765,1655,0804,9064,9074,3613,477

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

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues1,3841,4991,4191,3401,4861,1371,018
Cost of revenue(902)(957)(850)(782)(942)(492)(335)
Cost of goods and services sold(171)(218)(148)(145)(302)(356)(335)
Gross profit:482542570558544645684
Operating expenses(288)(341)(340)(334)(334)(456)(21)
Other operating income, net 2110   
Other undisclosed operating loss (2)(1)(10)  (508)
Operating income:194201230224211189154
Nonoperating expense(8)(43)(43)(48)(44)(27)(21)
Other nonoperating income17824599
Interest and debt expense(65)(68)(68)(70)(65)(55)(50)
Income from continuing operations before equity method investments, income taxes:1219111910510210783
Income from equity method investments     2020
Other undisclosed income from continuing operations before income taxes65686870653530
Income from continuing operations before income taxes:186159187176167162133
Income tax expense (benefit)1116(15)(20)(25)(37)(29)
Net income:197174172156142126105
Net loss attributable to noncontrolling interest   (1)(0)(1) 
Net income available to common stockholders, diluted:197174172155141125105

Comprehensive Income ($ in millions)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:197174172156142126105
Other comprehensive income (loss)116(4)(3)(4)5
Comprehensive income:198175178152138122110
Comprehensive loss, net of tax, attributable to noncontrolling interest   (1)(0)(1) 
Comprehensive income, net of tax, attributable to parent:198175178152138121110

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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