Earnings Per Share and Common Stock

9 Months Ended

Sep. 30, 2016

Earnings Per Share and Common Stock [Text Block]

EARNINGS PER SHARE AND COMMON STOCK

We compute basic earnings per share using the weighted average number of shares of common stock outstanding during each period. The difference between basic and diluted earnings per share, if any, arises from outstanding stock options, non-vested restricted stock units, performance share awards granted under our Executive Long-Term Incentive Compensation Plan and common shares under the forward sale agreement entered into in 2014, a portion of which were issued in 2015. For the nine months ended September 30, 2016, and 2015, no options to purchase shares of common stock were excluded from the computation of diluted earnings per share.



			2016					2015
Reconciliation of Basic and Diluted			Dilutive					Dilutive
Earnings Per Share	Basic		Securities	Diluted		Basic		Securities	Diluted
Millions Except Per Share Amounts
Quarter ended September 30,
Net Income Attributable to ALLETE		$40.3			$40.3		$60.4			$60.4
Average Common Shares	49.4		0.1	49.5		48.8		0.1	48.9
Earnings Per Share		$0.82			$0.81		$1.24			$1.23
Nine Months Ended September 30,
Net Income Attributable to ALLETE		$111.0			$111.0		$122.8			$122.8
Average Common Shares	49.3		0.1	49.4		48.0		0.1	48.1
Earnings Per Share		$2.25			$2.25		$2.56			$2.55