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Earnings Per Share and Common Stock | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
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 non-vested restricted stock units and performance share awards granted under our Executive Long-Term Incentive Compensation Plan.
|  |  | 2022 |  |  |  |  |  | 2021 |  |
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 | $33.7 |  |  |  |  | $33.7 |  |  | $27.6 |  |  |  |  | $27.6 |
Average Common Shares | 57.1 |  |  | 0.1 |  |  | 57.2 |  |  | 52.4 |  |  | 0.1 |  |  | 52.5 |
Earnings Per Share | $0.59 |  |  |  |  | $0.59 |  |  | $0.53 |  |  |  |  | $0.53 |
Nine Months Ended September 30, |  |  |  |  |  |  |  |  |  |  |
Net Income Attributable to ALLETE | $137.6 |  |  |  |  | $137.6 |  |  | $107.3 |  |  |  |  | $107.3 |
Average Common Shares | 55.5 |  |  | 0.1 |  |  | 55.6 |  |  | 52.3 |  |  | — |  |  | 52.3 |
Earnings Per Share | $2.48 |  |  |  |  | $2.48 |  |  | $2.05 |  |  |  |  | $2.05 |
On April 5, 2022, ALLETE issued and sold approximately 3.7 million shares of ALLETE common stock. Net proceeds of approximately $224 million were received from the sale of shares. Proceeds were used primarily to fund the acquisition of New Energy and capital investments at ALLETE Clean Energy.

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