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Common Stock and Earnings Per Share | 12 Months Ended
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Dec. 31, 2015
Common Stock and Earnings Per Share [Abstract] |
Common Stock and Earnings Per Share [Text Block] | COMMON STOCK AND EARNINGS PER SHARE
Summary of Common Stock | Shares |  | Equity |
| Thousands |  | Millions |
Balance as of December 31, 2012 | 39,377 |  |  | $784.7 |
Employee Stock Purchase Program | 16 |  | 0.7 |
Invest Direct | 395 |  | 18.5 |
Options and Stock Awards | 301 |  | 17.9 |
Equity Issuance Program | 1,312 |  | 63.4 |
Balance as of December 31, 2013 | 41,401 |  | 885.2 |
Employee Stock Purchase Program | 18 |  | 0.8 |
Invest Direct | 378 |  | 18.9 |
Options and Stock Awards | 78 |  | 8.0 |
Equity Issuance Program | 1,851 |  | 90.0 |
Forward Sale Agreement and Issuance | 1,807 |  | 85.2 |
Contribution to Pension | 396 |  | 19.5 |
Balance as of December 31, 2014 | 45,929 |  | 1,107.6 |
Employee Stock Purchase Program | 18 |  | 0.9 |
Invest Direct | 383 |  | 19.0 |
Options and Stock Awards | 43 |  | 8.6 |
Equity Issuance Program | 1,289 |  | 69.9 |
Forward Sale Agreement | 1,413 |  | 65.4 |
Balance as of December 31, 2015 | 49,075 |  |  | $1,271.4 |
NOTE 13. COMMON STOCK AND EARNINGS PER SHARE (Continued) Equity Issuance Program. We entered into a distribution agreement with Lampert Capital Markets, Inc., in 2008, as amended most recently in February 2015, with respect to the issuance and sale of up to an aggregate of 13.6 million shares of our common stock, without par value, of which 4.0 million shares remain available for issuance. For the year ended December 31, 2015, 1.3 million shares of common stock were issued under this agreement resulting in net proceeds of $69.9 million (1.9 million shares for net proceeds of $90.0 million for the year ended December 31, 2014; 1.3 million shares for net proceeds of $63.4 million for the year ended December 31, 2013). The shares sold January 1, 2013 through August 1, 2013, were offered and sold pursuant to Registration Statement No. 333-170289. On August 2, 2013, we filed Registration Statement No. 333-190335, pursuant to which the remaining shares will continue to be offered for sale from time to time. Earnings Per Share. 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 (described below). In accordance with accounting standards for earnings per share, no options to purchase shares of common stock were excluded from the computation of diluted earnings per share in 2015, 2014 and 2013. Forward Sale Agreement and Issuance of Common Stock. In February 2014, ALLETE entered into a confirmation of forward sale agreement (Agreement) with a forward counterparty in connection with a public offering of 2.8 million shares of ALLETE common stock. Pursuant to the Agreement, the forward counterparty (or its affiliate) borrowed 2.8 million shares of ALLETE common stock from third parties and sold them to the underwriters. The forward sale price was $48.01 per share, subject to adjustment as provided in the Agreement. In September 2014, ALLETE physically settled a portion of its obligations under the Agreement by delivering approximately 1.4 million shares of common stock in exchange for cash proceeds of $65.0 million and on February 4, 2015, ALLETE physically settled the remaining portion of its obligation under the Agreement by delivering approximately 1.4 million shares of common stock for cash proceeds of $65.4 million. In connection with the public offering of the 2.8 million shares, ALLETE granted the underwriters an option to purchase up to an additional 0.4 million shares of ALLETE common stock (the option shares). The underwriters exercised the option in full and in March 2014, the Company issued and sold the option shares to the underwriters at a price to ALLETE equal to the initial forward sale price for proceeds of $20.2 million. Contributions to Pension. No contributions were made to the pension plan for the year ended December 31, 2015. In 2014, we contributed approximately 0.4 million shares of ALLETE common stock to our pension plan, which had an aggregate value of $19.5 million when contributed; no contributions were made in 2013. These shares of ALLETE common stock were contributed in reliance upon an exemption available pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.
Reconciliation of Basic and Diluted |  |  |
Earnings Per Share |  |  | Dilutive |  |  |
Year Ended December 31 | Basic |  | Securities |  | Diluted |
Millions Except Per Share Amounts |  |  |
2015 |  |  |
Net Income Attributable to ALLETE |  | $141.1 |  |  |  |  | $141.1 |
Average Common Shares | 48.3 |  | 0.1 |  | 48.4 |
Earnings Per Share |  | $2.92 |  |  |  |  | $2.92 |
2014 |  |  |
Net Income Attributable to ALLETE |  | $124.8 |  |  |  |  | $124.8 |
Average Common Shares | 42.9 |  | 0.2 |  | 43.1 |
Earnings Per Share |  | $2.91 |  |  |  |  | $2.90 |
2013 |  |  |
Net Income Attributable to ALLETE |  | $104.7 |  |  |  |  | $104.7 |
Average Common Shares | 39.7 |  | 0.1 |  | 39.8 |
Earnings Per Share |  | $2.64 |  |  |  |  | $2.63 |

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