Earnings Per Share and Common Stock

9 Months Ended

Sep. 30, 2018

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 and performance share awards granted under our Executive Long-Term Incentive Compensation Plan. For the quarter and nine months ended September 30, 2018, and 2017, no options to purchase shares of ALLETE common stock were excluded from the computation of diluted earnings per share.



			2018					2017
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		$30.7			$30.7		$44.9			$44.9
Average Common Shares	51.4		0.2	51.6		51.0		0.2	51.2
Earnings Per Share		$0.59			$0.59		$0.88			$0.88
Nine Months Ended September 30,
Net Income		$113.0			$113.0		$130.8			$130.8
Average Common Shares	51.3		0.2	51.5		50.7		0.2	50.9
Earnings Per Share		$2.20			$2.19		$2.58			$2.57