Allete Inc (ALE)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	1,679,900	1,686,100	1,685,900	1,755,500	1,648,200	1,653,000	1,595,600	1,669,400	1,763,200	1,649,400	1,664,600	1,652,400	1,593,200	1,608,000	1,381,000	1,399,900	1,400,900	1,404,900	1,505,900	1,525,000
Total assets	US$ in thousands	6,656,400	6,644,800	6,567,900	6,704,500	6,845,600	6,858,000	6,839,000	6,556,000	6,422,300	6,332,200	6,293,300	6,274,500	6,084,600	5,878,500	5,760,400	5,619,500	5,482,800	5,275,800	5,176,500	5,218,800
Debt-to-assets ratio		0.25	0.25	0.26	0.26	0.24	0.24	0.23	0.25	0.27	0.26	0.26	0.26	0.26	0.27	0.24	0.25	0.26	0.27	0.29	0.29

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,679,900K ÷ $6,656,400K
= 0.25

The debt-to-assets ratio for Allete, Inc. has been relatively stable over the past eight quarters, ranging from 0.27 to 0.30. This ratio measures the proportion of total debt to total assets, indicating the extent to which the company's assets are financed through debt.

A ratio of 0.27 to 0.30 suggests that Allete, Inc. has been able to manage its debt levels efficiently, maintaining a healthy balance between debt and assets. A lower ratio indicates lower financial risk, as a smaller portion of the company's assets is funded by debt.

Overall, the consistent ratio over the quarters indicates that Allete, Inc. has been maintaining a prudent approach to managing its debt levels and ensuring a stable financial position in relation to its assets.