Earnings Per Share and Common Stock

9 Months Ended

Sep. 30, 2011

Earnings Per Share and Common Stock [Text Block]

EARNINGS PER SHARE AND COMMON STOCK

The difference between basic and diluted earnings per share, if any, arises from outstanding stock options and performance share awards granted under our Executive and Director Long-Term Incentive Compensation Plans. For the quarter and nine months ended September 30, 2011 and 2010, 0.4 million options to purchase shares of common stock were excluded from the computation of diluted earnings per share because the option exercise prices were greater than the average market prices; therefore, their effect would have been anti-dilutive.



			2011					2010
Reconciliation of Basic and Diluted			Dilutive					Dilutive
Earnings Per Share	Basic		Securities	Diluted		Basic		Securities	Diluted
Millions Except Per Share Amounts
For the Quarter Ended September 30,
Net Income Attributable to ALLETE		$20.5			$20.5		$19.6			$19.6
Common Shares	35.6		0.1	35.7		34.4		0.1	34.5
Earnings Per Share		$0.57			$0.57		$0.57			$0.56
For the Nine Months Ended September 30,
Net Income Attributable to ALLETE		$74.7			$74.7		$62.0			$62.0
Common Shares	35.1		0.1	35.2		34.1		0.1	34.2
Earnings Per Share		$2.13			$2.12		$1.82			$1.81