ALLETE Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	78.7	32.8	71.9	36.4	45.1	44.3
Accounts Receivable	146.1	141.4	129	134.7	123.5	111.9
Other Receivables	-	39.1	29.7	3.2	0.2	-
Inventory	184.9	154.6	175.4	455.9	97.7	74.2
Prepaid Expenses	75.3	47.4	57	86.3	24.5	23.7
Restricted Cash	-	19.9	5.1	1.5	0.3	0.8
Total Current Assets	485	435.2	468.1	718	291.3	254.9
Property, Plant & Equipment	5,529	5,182	5,013	5,017	5,104	4,863
Regulatory Assets	360.4	371.7	425.4	441	511.8	480.9
Goodwill	154.9	154.9	-	-	-	-
Other Intangible Assets	0.3	0.4	155.4	155.6	0.8	-
Long-Term Investments	357.7	340.1	331.2	322.7	318	301.2
Long-Term Accounts Receivable	14.2	15.9	18.5	21	23.3	25.5
Other Long-Term Assets	251.6	254.6	244.4	170.6	173.2	158.9
Total Assets	7,153	6,754	6,656	6,846	6,422	6,085
Accounts Payable	116.7	113.6	102.2	103	111	110
Accrued Expenses	26.1	23.4	21.1	20.5	20.1	19.8
Current Portion of Long-Term Debt	138.1	94.7	111.4	272.6	214.2	203.7
Current Portion of Leases	-	3.6	3.4	3.2	4.8	5.9
Current Income Taxes Payable	56.9	54.6	51	69.1	65.1	59.4
Other Current Liabilities	75.4	114.3	88.5	247.8	128.2	60.8
Total Current Liabilities	413.2	404.2	377.6	716.2	543.4	459.6
Long-Term Debt	2,099	1,705	1,680	1,648	1,763	1,593
Long-Term Leases	-	7.3	9.3	9.3	11.6	16.5
Pension & Post-Retirement Benefits	99.6	118.2	160.8	179.7	179.5	225.8
Long-Term Deferred Tax Liabilities	291.7	253.4	192.7	158.1	181.8	195.7
Other Long-Term Liabilities	905.6	876	829	785.8	805.3	793.6
Total Liabilities	3,809	3,364	3,249	3,497	3,485	3,284
Common Stock	1,839	1,823	1,804	1,782	1,537	1,461
Retained Earnings	1,031	1,043	1,026	934.8	891.4	864.8
Comprehensive Income & Other	-18.1	-18.1	-20.5	-24.4	-23.8	-31.1
Total Common Equity	2,852	2,848	2,810	2,692	2,404	2,295
Minority Interest	492	542.5	597.5	656.4	533.2	505.6
Shareholders' Equity	3,344	3,391	3,407	3,348	2,938	2,800
Total Liabilities & Equity	7,153	6,754	6,656	6,846	6,422	6,085
Total Debt	2,237	1,810	1,804	1,933	1,994	1,819
Net Cash (Debt)	-2,158	-1,778	-1,732	-1,897	-1,949	-1,775
Net Cash Per Share	-37.20	-30.75	-30.18	-33.87	-37.12	-34.20
Filing Date Shares Outstanding	58.1	57.9	57.58	57.25	53.24	52.12
Total Common Shares Outstanding	58.1	57.88	57.6	57.2	53.2	52.1
Working Capital	71.8	31	90.5	1.8	-252.1	-204.7
Book Value Per Share	49.09	49.20	48.78	47.06	45.19	44.04
Tangible Book Value	2,697	2,693	2,654	2,536	2,404	2,295
Tangible Book Value Per Share	46.42	46.52	46.08	44.34	45.18	44.04
Construction In Progress	-	326.9	223.1	176	208.4	350

Source: S&P Global Market Intelligence. Utility template. Financial Sources.