Earnings Per Share and Common Stock

3 Months Ended

Mar. 31, 2017

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 three months ended March 31, 2017, and 2016, no options to purchase shares of ALLETE common stock were excluded from the computation of diluted earnings per share.



			2017					2016
Reconciliation of Basic and Diluted			Dilutive					Dilutive
Earnings Per Share	Basic		Securities	Diluted		Basic		Securities	Diluted
Millions Except Per Share Amounts
Three Months Ended March 31,
Net Income Attributable to ALLETE		$49.0			$49.0		$45.9			$45.9
Average Common Shares	50.2		0.2	50.4		49.2		—	49.2
Earnings Per Share		$0.97			$0.97		$0.93			$0.93

Contributions to Pension. For the three months ended March 31, 2017, we contributed 0.2 million shares of ALLETE common stock to our defined benefit pension plan, which had an aggregate value of $13.5 million when contributed (no shares were contributed to the defined benefit pension plan for the three months ended March 31, 2016). 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.