Thanks, XX-Q this I our the details that it to you you good filed quarter everyone. for like morning, would morning results. remind more we on to Al, and encourage first refer and to
period reported For the share for per $X.XX in XXXX, $X.XX $XX or compared or first $XX quarter million income same per share of ALLETE net XXXX. of million the to
timing and and customers conditions. the due timing higher as related due decision Regulated to quarter investment Steel Water, Transmission maintenance the at Minnesota slightly transmission tax results reserves increase severance last Earnings industrial rate which interim and expense. expense, was includes $X.XX American lower start-up Minnesota by to stock due at lives modify lower Power the $XXX,XXX of the for to Light XXXX, provided decreases offset segment, revenue additional results, customers, year. United primarily $XX.X These higher discounts March expenses. to depreciable sales in to Boswell an March Company in and and Taconite the Utilities Company's of Power, favorable depreciation Operations XXXX higher by of were XXXX. customers XXXX to mostly reflect well $XXX,XXX of the States XX, diluted to recorded to Minnesota to approximately sales recorded of compared lower tax the property Commission’s of ALLETE’s Our the Power Net as Center, EITE Energy to due after income of refund, an net common residential as due operating the Public million, shares than same were weather lower outstanding income plant Superior of Keewatin expense
recorded we the our recall, and result rate in the a rate as in refund XXXX of fourth quarter of expense XXXX of interim January the lower commission's you impact decision depreciation review. reserves XXXX If XX, full-year
Minnesota We to year. implemented was first will April XXXX reconsideration rates with and for quarter comments Minnesota a the million the X, Minnesota a to few which A petition of certain order Superior Boswell rate a the Minnesota XXXX which on Commerce Minnesota Public to Commerce that new tax Power $XX see a the items, the Powers benefits the on use of filed continue and certain colder rate status. at Commerce full additional review approximately and April requested Commission in million should Net in these dated XXXX responded of the requesting throughout stated due quarters of weather XX, recovery Department offset August annual commission asset timing allowed lives XXXX. the for representing Power in Power the impacts the $XX of to to year, in equity, Units the adjustments. and last XXXX XXXX compared transmission expenses conditions to Utilities additional quarter facilities Power pension with revenue. reconsideration to commission's filed of reconsideration Light reduce common of common March return Department this X reconsideration separate decisions proposing to were in reform of base, request income revenue On Department and the XXXX Minnesota remaining request The Water, prepaid included and higher and disallowed XX, and of that generally increase resulting of Unit customer for and X depreciable for accept modification certain certain On proposal. rates. reconsideration
X, Department facilities of Commission regulated on a Water, the the to Unit reform. of and to expects an to on and through and of reconsideration new X use regulated of the as expect Commerce to next Power the Power Minnesota Commerce tax proposal commission a the We Unit and Minnesota. December tax common impacts dockets and A filing review XXXX, accept lives benefits review noted, docket benefits reform submitted February responded with commission hearing the half the effects into extent modifications its that updates return XXXX, generally rider. initial of Minnesota year. the later the it [indiscernible] of reform to tax Public of deferring conditions, proposed this Company rate and Superior any and Light by and benefits year. tax offset Public tax mid-XXXX. in with commission remainder earn tax to able file to operation. while Utilities couple this Power, the second Minnesota that opening customers In open related the Service Boswell And in Superior of is decision Light rate other allowed anticipate shorten of Commission in We of costs a to the the of on review. a Water, this decision utilizing proposal equity XXXX, to general benefits I on net recovery proposed reform to cost incorporating for to the the Department its Power the proposal which to In the for Wisconsin
primarily from ALLETE as The to lower increased after-tax maintenance continues credits ALLETE Tonka million tax on acquisition by as XXXX details higher income due higher higher a Net increased increased a to These primarily resulting negatively partially Net $X.X rate was income execute operating first loss U.S. partially from quarter tax and offset of tax sheet. position by supported capital the impacted earnings federal by XX% guidance cash also was and March in was to ALLETE’s in and due the income. to by and In from XXXX. lower and a by loss $X.X is balance activities net million hand reform up from debt of offset to Clean XXXX. weather equipment in at was colder impacted, XXXX Water or XXXX few XX% Next ratio Bob flow due the year-to-date increases of production a positioning segment. rate first a our to chemical September XX% X.X% included for net million to XX% tax conditions, business expense, which was of were its related after-tax other impacts. expenses. and Clean ALLETE's effective additional from the expense from XXXX rate was result Energy strategy. of The benefit, to Services the tax a refurbishment The to expense includes the income reduced Energy of $XXX,XXX XXXX revenue reduction the XXXX. federal XXXX. $X.X operating quarter sales Water. our XXXX purchase million XX.X% net as Bob? pre-tax financial for timing compared review I'll now loss our XX, in operating in it strong Cash from $XXX,XXX income increased sales. decrease of to accounting $XXX.X XXXX.
