Allete, Inc. (ALE) Financial Statements (2023 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments45446969992897
Cash and cash equivalents45446969992897
Receivables12411296144135123121
Inventory, net of allowances, customer advances and progress billings9874738796104117
Inventory9874738796104117
Other current assets25253134384036
Total current assets:291255270334368295371
Noncurrent Assets
Property, plant and equipment5,1004,8414,3773,9043,8223,7413,669
Long-term investments and receivables31830119849535675
Long-term investments31830119849535675
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 assets512481421390385360372
Restricted cash and investments   9  8
Other noncurrent assets21420721710310810781
Other undisclosed noncurrent assets   153119136116
Total noncurrent assets:6,1445,8305,2134,8314,7134,6124,536
TOTAL ASSETS:6,4356,0855,4835,1655,0804,9064,907
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities196189234219204138151
Accounts payable1111101651501367489
Taxes payable65595151504744
Interest and dividends payable20201818181819
Debt    64188 
Other liabilities1336760129837486
Other undisclosed current liabilities21420421358  38
Total current liabilities:543460507405351400275
Noncurrent Liabilities
Long-term debt and lease obligation1,7631,5931,4011,4291,4391,3701,569
Long-term debt, excluding current maturities1,7631,5931,4011,4291,4391,3701,569
Liabilities, other than long-term debt1,1821,2321,0581,1761,2211,2441,241
Accumulated deferred investment tax credit  32 
Deferred tax liabilities, net224231584580
Deferred income tax liabilities186196 
Liability, pension and other postretirement and postemployment benefits180226173177192211207
Regulatory liability536525560512532126105
Other liabilities281285293263267323349
Other undisclosed noncurrent liabilities  181    
Total noncurrent liabilities:2,9452,8252,6402,6042,6612,6142,809
Total liabilities:3,4893,2843,1473,0093,0123,0133,085
Stockholders' equity
Stockholders' equity attributable to parent2,4132,2952,2322,1562,0681,8931,820
Common stock1,5371,4611,4371,4291,4011,2951,271
Accumulated other comprehensive loss(24)(31)(24)(27)(23)(28)(25)
Retained earnings900865819755689626573
Stockholders' equity attributable to noncontrolling interest533506104   2
Total stockholders' equity:2,9462,8002,3362,1562,0681,8931,822
TOTAL LIABILITIES AND EQUITY:6,4356,0855,4835,1655,0804,9064,907

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1,4191,1691,2411,4991,4191,3401,486
Cost of revenue(916)(687)(796)(957)(850)(782)(942)
Cost of goods and services sold(69)(67)(81)(218)(148)(145)(302)
Gross profit:503482444542570558544
Operating expenses(352)(331)(264)(341)(340)(334)(334)
Other operating income, net   2110 
Other undisclosed operating loss   (2)(1)(10) 
Operating income:151151180201230224211
Nonoperating expense(40)(29)(1)(43)(43)(48)(44)
Other nonoperating income915198245
Interest and debt expense(69)(66)(65)(68)(68)(70)(65)
Income from continuing operations before equity method investments, income taxes:425711491119105102
Other undisclosed income from continuing operations before income taxes69666568687065
Income from continuing operations before income taxes:111122179159187176167
Income tax expense (benefit)2740716(15)(20)(25)
Net income:138162186174172156142
Net income (loss) attributable to noncontrolling interest31130  (1)(0)
Net income available to common stockholders, diluted:169174186174172155141

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:138162186174172156142
Other comprehensive income (loss)7(8)416(4)(3)
Comprehensive income:145154189175178152138
Comprehensive income (loss), net of tax, attributable to noncontrolling interest31130  (1)(0)
Comprehensive income, net of tax, attributable to parent:177167189175178152138

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.

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