|
|
|
|
|
|
|
|
|
|
x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Commission
File Number
|
|
Name of Registrant, State of Incorporation,
Address of Principal Executive Offices and Telephone Number
|
|
IRS Employer
Identification Number
|
1-9894
|
|
ALLIANT ENERGY CORPORATION
|
|
39-1380265
|
|
|
(a Wisconsin corporation)
|
|
|
|
|
4902 N. Biltmore Lane
|
|
|
|
|
Madison, Wisconsin 53718
|
|
|
|
|
Telephone (608) 458-3311
|
|
|
|
|
|
||
1-4117
|
|
INTERSTATE POWER AND LIGHT COMPANY
|
|
42-0331370
|
|
|
(an Iowa corporation)
|
|
|
|
|
Alliant Energy Tower
|
|
|
|
|
Cedar Rapids, Iowa 52401
|
|
|
|
|
Telephone (319) 786-4411
|
|
|
|
|
|
||
0-337
|
|
WISCONSIN POWER AND LIGHT COMPANY
|
|
39-0714890
|
|
|
(a Wisconsin corporation)
|
|
|
|
|
4902 N. Biltmore Lane
|
|
|
|
|
Madison, Wisconsin 53718
|
|
|
|
|
Telephone (608) 458-3311
|
|
|
|
Large Accelerated Filer
|
|
Accelerated Filer
|
|
Non-accelerated Filer
|
|
Smaller Reporting Company Filer
|
Alliant Energy Corporation
|
x
|
|
|
|
|
|
|
Interstate Power and Light Company
|
|
|
|
|
x
|
|
|
Wisconsin Power and Light Company
|
|
|
|
|
x
|
|
|
|
Page
|
Alliant Energy Corporation:
|
|
Interstate Power and Light Company:
|
|
Wisconsin Power and Light Company:
|
|
Abbreviation or Acronym
|
|
Definition
|
2014 Form 10-K
|
|
Combined Annual Report on Form 10-K filed by Alliant Energy, IPL and WPL for the year ended Dec. 31, 2014
|
AFUDC
|
|
Allowance for funds used during construction
|
Alliant Energy
|
|
Alliant Energy Corporation
|
AROs
|
|
Asset retirement obligations
|
ATC
|
|
American Transmission Company LLC
|
CAA
|
|
Clean Air Act
|
CCR
|
|
Coal Combustion Residuals
|
CDD
|
|
Cooling degree days
|
CEO
|
|
Chief Executive Officer
|
CFO
|
|
Chief Financial Officer
|
Columbia
|
|
Columbia Energy Center
|
Corporate Services
|
|
Alliant Energy Corporate Services, Inc.
|
CRANDIC
|
|
Cedar Rapids and Iowa City Railway Company
|
DAEC
|
|
Duane Arnold Energy Center
|
Dth
|
|
Dekatherm
|
Edgewater
|
|
Edgewater Generating Station
|
EGU
|
|
Electric generating unit
|
EPA
|
|
U.S. Environmental Protection Agency
|
EPS
|
|
Earnings per weighted average common share
|
FERC
|
|
Federal Energy Regulatory Commission
|
Financial Statements
|
|
Condensed Consolidated Financial Statements
|
FTR
|
|
Financial transmission right
|
Fuel-related
|
|
Electric production fuel and energy purchases
|
GAAP
|
|
U.S. generally accepted accounting principles
|
HDD
|
|
Heating degree days
|
IPL
|
|
Interstate Power and Light Company
|
ITC
|
|
ITC Midwest LLC
|
IUB
|
|
Iowa Utilities Board
|
Marshalltown
|
|
Marshalltown Generating Station
|
MDA
|
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
MGP
|
|
Manufactured gas plant
|
MISO
|
|
Midcontinent Independent System Operator, Inc.
|
MW
|
|
Megawatt
|
MWh
|
|
Megawatt-hour
|
N/A
|
|
Not applicable
|
NAAQS
|
|
National Ambient Air Quality Standards
|
Nelson Dewey
|
|
Nelson Dewey Generating Station
|
Note(s)
|
|
Combined Notes to Condensed Consolidated Financial Statements
|
NOx
|
|
Nitrogen oxide
|
OPEB
|
|
Other postretirement benefits
|
PJM
|
|
PJM Interconnection, LLC
|
PPA
|
|
Purchased power agreement
|
PSCW
|
|
Public Service Commission of Wisconsin
|
Receivables Agreement
|
|
Receivables Purchase and Sale Agreement
|
Resources
|
|
Alliant Energy Resources, LLC
|
Riverside
|
|
Riverside Energy Center
|
RMT
|
|
RMT, Inc.
|
SCR
|
|
Selective catalytic reduction
|
SO2
|
|
Sulfur dioxide
|
U.S.
|
|
United States of America
|
Whiting Petroleum
|
|
Whiting Petroleum Corporation
|
WPL
|
|
Wisconsin Power and Light Company
|
•
|
federal and state regulatory or governmental actions, including the impact of energy, tax, financial and health care legislation, and regulatory agency orders;
|
•
|
IPL’s and WPL’s ability to obtain adequate and timely rate relief to allow for, among other things, the recovery of fuel costs, operating costs, transmission costs, deferred expenditures, capital expenditures, and remaining costs related to EGUs that may be permanently closed, earning their authorized rates of return, and the payments to their parent of expected levels of dividends;
|
•
|
the ability to continue cost controls and operational efficiencies;
|
•
|
the impact of IPL’s retail electric base rate freeze in Iowa during 2015 and 2016;
|
•
|
the impact of WPL’s retail electric and gas base rate freeze in Wisconsin during 2015 and 2016;
|
•
|
weather effects on results of utility operations, including impacts of temperature changes in IPL’s and WPL’s service territories on customers’ demand for electricity and gas;
|
•
|
the impact of the economy in IPL’s and WPL’s service territories and the resulting impacts on sales volumes, margins and the ability to collect unpaid bills;
|
•
|
the impact of customer- and third party-owned generation, including alternative electric suppliers, in IPL’s and WPL’s service territories on system reliability, operating expenses and customers’ demand for electricity;
|
•
|
the impact of energy efficiency, franchise retention, customer- and third party-owned generation and customer disconnects on sales volumes and margins;
|
•
|
the impact that price changes may have on IPL’s and WPL’s customers’ demand for electric, gas and steam services and their ability to pay their bills;
|
•
|
developments that adversely impact the ability to implement the strategic plan, including unanticipated issues with new emission controls equipment for various coal-fired EGUs of IPL and WPL, IPL’s construction of Marshalltown, WPL’s proposed Riverside expansion, various replacements, modernization and expansion of IPL’s and WPL’s electric and gas distribution systems, Resources’ electricity output and selling price of such output from its Franklin County wind farm, and the potential decommissioning of certain EGUs of IPL and WPL;
|
•
|
issues related to the availability and operations of EGUs, including start-up risks, breakdown or failure of equipment, performance below expected or contracted levels of output or efficiency, operator error, transmission constraints, compliance with mandatory reliability standards and risks related to recovery of resulting incremental costs through rates;
|
•
|
disruptions in the supply and delivery of coal, natural gas and purchased electricity;
|
•
|
changes in the price of delivered coal, natural gas and purchased electricity due to shifts in supply and demand caused by market conditions and regulations, and the ability to recover and to retain the recovery of related changes in purchased power, fuel and fuel-related costs through rates in a timely manner;
|
•
|
impacts on equity income from unconsolidated investments due to potential changes to ATC’s authorized return on equity;
|
•
|
issues associated with environmental remediation and environmental compliance, including compliance with the Consent Decree between WPL, the EPA and the Sierra Club, the Consent Decree between IPL, the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, the CCR Rule, future changes in environmental laws and regulations, including the EPA’s regulations for carbon dioxide emissions reductions from new and existing fossil-fueled EGUs, and litigation associated with environmental requirements;
|
•
|
the ability to defend against environmental claims brought by state and federal agencies, such as the EPA, state natural resources agencies or third parties, such as the Sierra Club, and the impact on operating expenses of defending and resolving such claims;
|
•
|
the ability to recover through rates all environmental compliance and remediation costs, including costs for projects put on hold due to uncertainty of future environmental laws and regulations;
|
•
|
impacts that storms or natural disasters in IPL’s and WPL’s service territories may have on their operations and recovery of, and rate relief for, costs associated with restoration activities;
|
•
|
the direct or indirect effects resulting from terrorist incidents, including physical attacks and cyber attacks, or responses to such incidents;
|
•
|
the impact of penalties or third-party claims related to, or in connection with, a failure to maintain the security of personally identifiable information, including associated costs to notify affected persons and to mitigate their information security concerns;
|
•
|
the direct or indirect effects resulting from breakdown or failure of equipment in the operation of gas distribution systems, such as leaks, explosions and mechanical problems, and compliance with gas distribution safety regulations, such as those that may be issued by the Pipeline and Hazardous Materials Safety Administration;
|
•
|
risks associated with implementation of a new customer billing and information system, which is currently expected to be completed by the end of the first quarter of 2016;
|
•
|
impacts of IPL’s future tax benefits from Iowa rate-making practices, including deductions for repairs expenditures and allocation of mixed service costs, and recoverability of the associated regulatory assets from customers, when the differences reverse in future periods;
|
•
|
any material post-closing adjustments related to any past asset divestitures, including the sales of IPL’s Minnesota electric and natural gas distribution assets and RMT, which could result from, among other things, warranties, parental guarantees or litigation;
|
•
|
continued access to the capital markets on competitive terms and rates, and the actions of credit rating agencies;
|
•
|
inflation and interest rates;
|
•
|
changes to the creditworthiness of counterparties with which Alliant Energy, IPL and WPL have contractual arrangements, including participants in the energy markets and fuel suppliers and transporters;
|
•
|
issues related to electric transmission, including operating in Regional Transmission Organization energy and ancillary services markets, the impacts of potential future billing adjustments and cost allocation changes from Regional Transmission Organizations and recovery of costs incurred;
|
•
|
current or future litigation, regulatory investigations, proceedings or inquiries, including the flood damage lawsuit pending against CRANDIC;
|
•
|
Alliant Energy’s ability to sustain its dividend payout ratio goal;
|
•
|
employee workforce factors, including changes in key executives, collective bargaining agreements and negotiations, work stoppages or restructurings;
|
•
|
access to technological developments;
|
•
|
changes in technology that alter the channels through which electric customers buy or utilize power;
|
•
|
material changes in retirement and benefit plan costs;
|
•
|
the impact of performance-based compensation plans accruals;
|
•
|
the effect of accounting pronouncements issued periodically by standard-setting bodies, including a new revenue recognition standard, which is currently expected to be adopted in 2018;
|
•
|
the impact of changes to production tax credits for wind farms;
|
•
|
the impact of adjustments made to deferred tax assets and liabilities from state apportionment assumptions;
|
•
|
the ability to utilize tax credits and net operating losses generated to date, and those that may be generated in the future, before they expire;
|
•
|
the ability to successfully complete tax audits and changes in tax accounting methods with no material impact on earnings and cash flows; and
|
•
|
factors listed in
MDA
and Risk Factors in Item 1A in the
2014
Form 10-K.
|
|
For the Three Months
|
|
For the Nine Months
|
||||||||||||
|
Ended September 30,
|
|
Ended September 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
|
(in millions, except per share amounts)
|
||||||||||||||
Operating revenues:
|
|
|
|
|
|
|
|
||||||||
Utility:
|
|
|
|
|
|
|
|
||||||||
Electric
|
|
$835.8
|
|
|
|
$771.2
|
|
|
|
$2,147.5
|
|
|
|
$2,090.9
|
|
Gas
|
38.0
|
|
|
47.2
|
|
|
288.1
|
|
|
364.8
|
|
||||
Other
|
13.4
|
|
|
12.2
|
|
|
44.6
|
|
|
50.6
|
|
||||
Non-regulated
|
11.7
|
|
|
12.5
|
|
|
33.3
|
|
|
39.9
|
|
||||
Total operating revenues
|
898.9
|
|
|
843.1
|
|
|
2,513.5
|
|
|
2,546.2
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Electric production fuel and purchased power
|
245.8
|
|
|
230.8
|
|
|
646.9
|
|
|
683.6
|
|
||||
Electric transmission service
|
127.6
|
|
|
114.0
|
|
|
367.7
|
|
|
333.6
|
|
||||
Cost of gas sold
|
13.6
|
|
|
21.8
|
|
|
166.3
|
|
|
228.7
|
|
||||
Other operation and maintenance
|
151.1
|
|
|
159.0
|
|
|
456.3
|
|
|
483.8
|
|
||||
Depreciation and amortization
|
99.3
|
|
|
97.1
|
|
|
299.9
|
|
|
288.4
|
|
||||
Taxes other than income taxes
|
25.6
|
|
|
25.6
|
|
|
78.6
|
|
|
75.8
|
|
||||
Total operating expenses
|
663.0
|
|
|
648.3
|
|
|
2,015.7
|
|
|
2,093.9
|
|
||||
Operating income
|
235.9
|
|
|
194.8
|
|
|
497.8
|
|
|
452.3
|
|
||||
Interest expense and other:
|
|
|
|
|
|
|
|
||||||||
Interest expense
|
46.4
|
|
|
44.6
|
|
|
139.5
|
|
|
134.9
|
|
||||
Equity income from unconsolidated investments, net
|
(11.1
|
)
|
|
(11.5
|
)
|
|
(28.9
|
)
|
|
(34.2
|
)
|
||||
Allowance for funds used during construction
|
(9.7
|
)
|
|
(8.3
|
)
|
|
(25.1
|
)
|
|
(25.8
|
)
|
||||
Interest income and other
|
(0.1
|
)
|
|
(0.2
|
)
|
|
(0.4
|
)
|
|
(1.8
|
)
|
||||
Total interest expense and other
|
25.5
|
|
|
24.6
|
|
|
85.1
|
|
|
73.1
|
|
||||
Income from continuing operations before income taxes
|
210.4
|
|
|
170.2
|
|
|
412.7
|
|
|
379.2
|
|
||||
Income taxes
|
27.8
|
|
|
12.4
|
|
|
59.5
|
|
|
46.2
|
|
||||
Income from continuing operations, net of tax
|
182.6
|
|
|
157.8
|
|
|
353.2
|
|
|
333.0
|
|
||||
Loss from discontinued operations, net of tax
|
(0.1
|
)
|
|
(1.9
|
)
|
|
(1.4
|
)
|
|
(2.2
|
)
|
||||
Net income
|
182.5
|
|
|
155.9
|
|
|
351.8
|
|
|
330.8
|
|
||||
Preferred dividend requirements of Interstate Power and Light Company
|
2.6
|
|
|
2.6
|
|
|
7.7
|
|
|
7.7
|
|
||||
Net income attributable to Alliant Energy common shareowners
|
|
$179.9
|
|
|
|
$153.3
|
|
|
|
$344.1
|
|
|
|
$323.1
|
|
Weighted average number of common shares outstanding (basic and diluted)
|
113.2
|
|
|
110.8
|
|
|
112.5
|
|
|
110.8
|
|
||||
Earnings per weighted average common share attributable to Alliant Energy common
shareowners (basic and diluted):
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations, net of tax
|
|
$1.59
|
|
|
|
$1.40
|
|
|
|
$3.07
|
|
|
|
$2.94
|
|
Loss from discontinued operations, net of tax
|
—
|
|
|
(0.02
|
)
|
|
(0.01
|
)
|
|
(0.02
|
)
|
||||
Net income
|
|
$1.59
|
|
|
|
$1.38
|
|
|
|
$3.06
|
|
|
|
$2.92
|
|
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations, net of tax
|
|
$180.0
|
|
|
|
$155.2
|
|
|
|
$345.5
|
|
|
|
$325.3
|
|
Loss from discontinued operations, net of tax
|
(0.1
|
)
|
|
(1.9
|
)
|
|
(1.4
|
)
|
|
(2.2
|
)
|
||||
Net income
|
|
$179.9
|
|
|
|
$153.3
|
|
|
|
$344.1
|
|
|
|
$323.1
|
|
Dividends declared per common share
|
|
$0.55
|
|
|
|
$0.51
|
|
|
|
$1.65
|
|
|
|
$1.53
|
|
|
September 30,
2015 |
|
December 31,
2014 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$139.2
|
|
|
|
$56.9
|
|
Accounts receivable, less allowance for doubtful accounts
|
427.3
|
|
|
427.3
|
|
||
Production fuel, at weighted average cost
|
87.8
|
|
|
83.8
|
|
||
Materials and supplies, at weighted average cost
|
83.7
|
|
|
72.9
|
|
||
Gas stored underground, at weighted average cost
|
40.0
|
|
|
67.1
|
|
||
Regulatory assets
|
92.3
|
|
|
68.1
|
|
||
Other
|
217.4
|
|
|
267.0
|
|
||
Total current assets
|
1,087.7
|
|
|
1,043.1
|
|
||
Property, plant and equipment, net
|
9,366.5
|
|
|
8,938.4
|
|
||
Investments:
|
|
|
|
||||
Investment in American Transmission Company LLC
|
296.7
|
|
|
286.5
|
|
||
Other
|
56.4
|
|
|
58.4
|
|
||
Total investments
|
353.1
|
|
|
344.9
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,715.6
|
|
|
1,715.6
|
|
||
Deferred charges and other
|
35.7
|
|
|
43.9
|
|
||
Total other assets
|
1,751.3
|
|
|
1,759.5
|
|
||
Total assets
|
|
$12,558.6
|
|
|
|
$12,085.9
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$3.0
|
|
|
|
$183.0
|
|
Commercial paper
|
109.1
|
|
|
141.3
|
|
||
Accounts payable
|
438.3
|
|
|
427.9
|
|
||
Regulatory liabilities
|
189.7
|
|
|
200.1
|
|
||
Other
|
250.7
|
|
|
262.4
|
|
||
Total current liabilities
|
990.8
|
|
|
1,214.7
|
|
||
Long-term debt, net (excluding current portion)
|
3,855.8
|
|
|
3,606.7
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred income tax liabilities
|
2,462.1
|
|
|
2,321.1
|
|
||
Regulatory liabilities
|
554.4
|
|
|
621.1
|
|
||
Pension and other benefit obligations
|
416.4
|
|
|
421.7
|
|
||
Other
|
333.0
|
|
|
260.1
|
|
||
Total other liabilities
|
3,765.9
|
|
|
3,624.0
|
|
||
Commitments and contingencies (
Note 13
)
|
|
|
|
|
|
||
Equity:
|
|
|
|
||||
Alliant Energy Corporation common equity:
|
|
|
|
||||
Common stock - $0.01 par value - 240,000,000 shares authorized; 113,360,425 and 110,935,680 shares outstanding
|
1.1
|
|
|
1.1
|
|
||
Additional paid-in capital
|
1,656.0
|
|
|
1,509.1
|
|
||
Retained earnings
|
2,097.0
|
|
|
1,938.0
|
|
||
Accumulated other comprehensive loss
|
(0.6
|
)
|
|
(0.6
|
)
|
||
Shares in deferred compensation trust - 210,647 and 238,935 shares at a weighted average cost of $39.28 and $37.45 per share
|
(8.3
|
)
|
|
(8.9
|
)
|
||
Total Alliant Energy Corporation common equity
|
3,745.2
|
|
|
3,438.7
|
|
||
Cumulative preferred stock of Interstate Power and Light Company
|
200.0
|
|
|
200.0
|
|
||
Noncontrolling interest
|
0.9
|
|
|
1.8
|
|
||
Total equity
|
3,946.1
|
|
|
3,640.5
|
|
||
Total liabilities and equity
|
|
$12,558.6
|
|
|
|
$12,085.9
|
|
|
For the Nine Months
|
||||||
|
Ended September 30,
|
||||||
|
2015
|
|
2014
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$351.8
|
|
|
|
$330.8
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
299.9
|
|
|
288.4
|
|
||
Deferred tax expense and investment tax credits
|
101.0
|
|
|
54.2
|
|
||
Other
|
(2.5
|
)
|
|
13.6
|
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
11.7
|
|
|
87.1
|
|
||
Sales of accounts receivable
|
(21.0
|
)
|
|
9.0
|
|
||
Regulatory assets
|
(51.3
|
)
|
|
(154.3
|
)
|
||
Regulatory liabilities
|
(61.5
|
)
|
|
61.1
|
|
||
Deferred income taxes
|
74.1
|
|
|
109.5
|
|
||
Other
|
(6.9
|
)
|
|
(35.5
|
)
|
||
Net cash flows from operating activities
|
695.3
|
|
|
763.9
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Construction and acquisition expenditures:
|
|
|
|
||||
Utility business
|
(678.9
|
)
|
|
(587.4
|
)
|
||
Alliant Energy Corporate Services, Inc. and non-regulated businesses
|
(47.5
|
)
|
|
(45.1
|
)
|
||
Proceeds from Minnesota electric and natural gas distribution asset sales
|
138.1
|
|
|
—
|
|
||
Other
|
(24.7
|
)
|
|
(7.9
|
)
|
||
Net cash flows used for investing activities
|
(613.0
|
)
|
|
(640.4
|
)
|
||
Cash flows used for financing activities:
|
|
|
|
||||
Common stock dividends
|
(185.1
|
)
|
|
(169.3
|
)
|
||
Proceeds from issuance of common stock, net
|
145.4
|
|
|
—
|
|
||
Proceeds from issuance of long-term debt
|
250.7
|
|
|
2.9
|
|
||
Payments to retire long-term debt
|
(182.0
|
)
|
|
(47.7
|
)
|
||
Net change in commercial paper
|
(32.2
|
)
|
|
74.4
|
|
||
Other
|
3.2
|
|
|
17.4
|
|
||
Net cash flows used for financing activities
|
—
|
|
|
(122.3
|
)
|
||
Net increase in cash and cash equivalents
|
82.3
|
|
|
1.2
|
|
||
Cash and cash equivalents at beginning of period
|
56.9
|
|
|
9.8
|
|
||
Cash and cash equivalents at end of period
|
|
$139.2
|
|
|
|
$11.0
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash (paid) refunded during the period for:
|
|
|
|
||||
Interest, net of capitalized interest
|
|
($133.9
|
)
|
|
|
($131.8
|
)
|
Income taxes, net
|
|
$—
|
|
|
|
$5.3
|
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$180.0
|
|
|
|
$141.1
|
|
|
For the Three Months
|
|
For the Nine Months
|
||||||||||||
|
Ended September 30,
|
|
Ended September 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
|
(in millions)
|
||||||||||||||
Operating revenues:
|
|
|
|
|
|
|
|
||||||||
Electric utility
|
|
$468.6
|
|
|
|
$435.9
|
|
|
|
$1,170.6
|
|
|
|
$1,164.7
|
|
Gas utility
|
23.1
|
|
|
28.7
|
|
|
164.1
|
|
|
208.1
|
|
||||
Steam and other
|
12.9
|
|
|
11.6
|
|
|
41.1
|
|
|
44.2
|
|
||||
Total operating revenues
|
504.6
|
|
|
476.2
|
|
|
1,375.8
|
|
|
1,417.0
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Electric production fuel and purchased power
|
131.4
|
|
|
132.2
|
|
|
332.0
|
|
|
395.1
|
|
||||
Electric transmission service
|
87.5
|
|
|
82.7
|
|
|
249.3
|
|
|
241.7
|
|
||||
Cost of gas sold
|
9.4
|
|
|
14.6
|
|
|
93.4
|
|
|
128.4
|
|
||||
Other operation and maintenance
|
94.3
|
|
|
89.8
|
|
|
287.5
|
|
|
279.1
|
|
||||
Depreciation and amortization
|
51.2
|
|
|
49.3
|
|
|
155.1
|
|
|
146.9
|
|
||||
Taxes other than income taxes
|
13.8
|
|
|
13.7
|
|
|
42.2
|
|
|
40.4
|
|
||||
Total operating expenses
|
387.6
|
|
|
382.3
|
|
|
1,159.5
|
|
|
1,231.6
|
|
||||
Operating income
|
117.0
|
|
|
93.9
|
|
|
216.3
|
|
|
185.4
|
|
||||
Interest expense and other:
|
|
|
|
|
|
|
|
||||||||
Interest expense
|
23.8
|
|
|
21.9
|
|
|
71.8
|
|
|
67.0
|
|
||||
Allowance for funds used during construction
|
(7.3
|
)
|
|
(6.6
|
)
|
|
(19.3
|
)
|
|
(18.6
|
)
|
||||
Interest income and other
|
0.1
|
|
|
—
|
|
|
—
|
|
|
(0.1
|
)
|
||||
Total interest expense and other
|
16.6
|
|
|
15.3
|
|
|
52.5
|
|
|
48.3
|
|
||||
Income before income taxes
|
100.4
|
|
|
78.6
|
|
|
163.8
|
|
|
137.1
|
|
||||
Income tax benefit
|
(19.6
|
)
|
|
(26.5
|
)
|
|
(25.8
|
)
|
|
(34.9
|
)
|
||||
Net income
|
120.0
|
|
|
105.1
|
|
|
189.6
|
|
|
172.0
|
|
||||
Preferred dividend requirements
|
2.6
|
|
|
2.6
|
|
|
7.7
|
|
|
7.7
|
|
||||
Earnings available for common stock
|
|
$117.4
|
|
|
|
$102.5
|
|
|
|
$181.9
|
|
|
|
$164.3
|
|
|
September 30,
2015 |
|
December 31,
2014 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$99.4
|
|
|
|
$5.3
|
|
Accounts receivable, less allowance for doubtful accounts
|
235.7
|
|
|
216.7
|
|
||
Production fuel, at weighted average cost
|
51.0
|
|
|
52.7
|
|
||
Materials and supplies, at weighted average cost
|
46.6
|
|
|
42.0
|
|
||
Gas stored underground, at weighted average cost
|
20.7
|
|
|
30.8
|
|
||
Regulatory assets
|
33.4
|
|
|
38.7
|
|
||
Other
|
115.0
|
|
|
169.9
|
|
||
Total current assets
|
601.8
|
|
|
556.1
|
|
||
Property, plant and equipment, net
|
4,804.7
|
|
|
4,554.7
|
|
||
Investments
|
19.4
|
|
|
19.1
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,336.8
|
|
|
1,319.2
|
|
||
Deferred charges and other
|
16.8
|
|
|
12.7
|
|
||
Total other assets
|
1,353.6
|
|
|
1,331.9
|
|
||
Total assets
|
|
$6,779.5
|
|
|
|
$6,461.8
|
|
LIABILITIES AND EQUITY
|
|
||||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$—
|
|
|
|
$150.0
|
|
Accounts payable
|
251.3
|
|
|
259.6
|
|
||
Accounts payable to associated companies
|
49.2
|
|
|
31.3
|
|
||
Regulatory liabilities
|
126.3
|
|
|
129.7
|
|
||
Other
|
125.1
|
|
|
135.3
|
|
||
Total current liabilities
|
551.9
|
|
|
705.9
|
|
||
Long-term debt, net (excluding current portion)
|
1,868.5
|
|
|
1,618.7
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred income tax liabilities
|
1,419.9
|
|
|
1,341.4
|
|
||
Regulatory liabilities
|
376.2
|
|
|
453.8
|
|
||
Pension and other benefit obligations
|
141.0
|
|
|
142.4
|
|
||
Other
|
231.0
|
|
|
185.5
|
|
||
Total other liabilities
|
2,168.1
|
|
|
2,123.1
|
|
||
Commitments and contingencies (
Note 13
)
|
|
|
|
|
|
||
Equity:
|
|
|
|
||||
Interstate Power and Light Company common equity:
|
|
|
|
||||
Common stock - $2.50 par value - 24,000,000 shares authorized; 13,370,788 shares outstanding
|
33.4
|
|
|
33.4
|
|
||
Additional paid-in capital
|
1,342.8
|
|
|
1,242.8
|
|
||
Retained earnings
|
614.8
|
|
|
537.9
|
|
||
Total Interstate Power and Light Company common equity
|
1,991.0
|
|
|
1,814.1
|
|
||
Cumulative preferred stock
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
2,191.0
|
|
|
2,014.1
|
|
||
Total liabilities and equity
|
|
$6,779.5
|
|
|
|
$6,461.8
|
|
|
For the Nine Months
|
||||||
|
Ended September 30,
|
||||||
|
2015
|
|
2014
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$189.6
|
|
|
|
$172.0
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
155.1
|
|
|
146.9
|
|
||
Other
|
30.9
|
|
|
(12.8
|
)
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(8.3
|
)
|
|
57.1
|
|
||
Sales of accounts receivable
|
(21.0
|
)
|
|
9.0
|
|
||
Regulatory assets
|
(38.1
|
)
|
|
(126.1
|
)
|
||
Accounts payable
|
(24.6
|
)
|
|
17.9
|
|
||
Regulatory liabilities
|
(63.1
|
)
|
|
14.8
|
|
||
Deferred income taxes
|
72.0
|
|
|
112.5
|
|
||
Other
|
25.5
|
|
|
(17.7
|
)
|
||
Net cash flows from operating activities
|
318.0
|
|
|
373.6
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Utility construction and acquisition expenditures
|
(432.6
|
)
|
|
(358.2
|
)
|
||
Proceeds from Minnesota electric and natural gas distribution asset sales
|
138.1
|
|
|
—
|
|
||
Other
|
(24.9
|
)
|
|
(18.3
|
)
|
||
Net cash flows used for investing activities
|
(319.4
|
)
|
|
(376.5
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Common stock dividends
|
(105.0
|
)
|
|
(105.0
|
)
|
||
Capital contributions from parent
|
100.0
|
|
|
90.0
|
|
||
Proceeds from issuance of long-term debt
|
250.0
|
|
|
—
|
|
||
Payments to retire long-term debt
|
(150.0
|
)
|
|
(38.4
|
)
|
||
Net change in commercial paper
|
—
|
|
|
38.0
|
|
||
Other
|
0.5
|
|
|
18.5
|
|
||
Net cash flows from financing activities
|
95.5
|
|
|
3.1
|
|
||
Net increase in cash and cash equivalents
|
94.1
|
|
|
0.2
|
|
||
Cash and cash equivalents at beginning of period
|
5.3
|
|
|
4.4
|
|
||
Cash and cash equivalents at end of period
|
|
$99.4
|
|
|
|
$4.6
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash (paid) refunded during the period for:
|
|
|
|
||||
Interest
|
|
($66.7
|
)
|
|
|
($64.2
|
)
|
Income taxes, net
|
|
$31.1
|
|
|
|
$21.0
|
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$115.5
|
|
|
|
$96.7
|
|
|
For the Three Months
|
|
For the Nine Months
|
||||||||||||
|
Ended September 30,
|
|
Ended September 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
|
(in millions)
|
||||||||||||||
Operating revenues:
|
|
|
|
|
|
|
|
||||||||
Electric utility
|
|
$367.2
|
|
|
|
$335.3
|
|
|
|
$976.9
|
|
|
|
$926.2
|
|
Gas utility
|
14.9
|
|
|
18.5
|
|
|
124.0
|
|
|
156.7
|
|
||||
Other
|
0.5
|
|
|
0.6
|
|
|
3.5
|
|
|
6.4
|
|
||||
Total operating revenues
|
382.6
|
|
|
354.4
|
|
|
1,104.4
|
|
|
1,089.3
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Electric production fuel and purchased power
|
114.4
|
|
|
98.6
|
|
|
314.9
|
|
|
288.5
|
|
||||
Electric transmission service
|
40.1
|
|
|
31.3
|
|
|
118.4
|
|
|
91.9
|
|
||||
Cost of gas sold
|
4.2
|
|
|
7.2
|
|
|
72.9
|
|
|
100.3
|
|
||||
Other operation and maintenance
|
57.0
|
|
|
66.9
|
|
|
167.7
|
|
|
199.3
|
|
||||
Depreciation and amortization
|
45.7
|
|
|
45.6
|
|
|
137.5
|
|
|
135.0
|
|
||||
Taxes other than income taxes
|
10.9
|
|
|
10.9
|
|
|
33.6
|
|
|
32.7
|
|
||||
Total operating expenses
|
272.3
|
|
|
260.5
|
|
|
845.0
|
|
|
847.7
|
|
||||
Operating income
|
110.3
|
|
|
93.9
|
|
|
259.4
|
|
|
241.6
|
|
||||
Interest expense and other:
|
|
|
|
|
|
|
|
||||||||
Interest expense
|
23.1
|
|
|
21.0
|
|
|
69.5
|
|
|
63.2
|
|
||||
Equity income from unconsolidated investments
|
(11.1
|
)
|
|
(11.4
|
)
|
|
(30.2
|
)
|
|
(34.2
|
)
|
||||
Allowance for funds used during construction
|
(2.4
|
)
|
|
(1.7
|
)
|
|
(5.8
|
)
|
|
(7.2
|
)
|
||||
Interest income and other
|
(0.3
|
)
|
|
0.5
|
|
|
(0.3
|
)
|
|
0.8
|
|
||||
Total interest expense and other
|
9.3
|
|
|
8.4
|
|
|
33.2
|
|
|
22.6
|
|
||||
Income before income taxes
|
101.0
|
|
|
85.5
|
|
|
226.2
|
|
|
219.0
|
|
||||
Income taxes
|
33.1
|
|
|
23.9
|
|
|
74.0
|
|
|
68.0
|
|
||||
Net income
|
67.9
|
|
|
61.6
|
|
|
152.2
|
|
|
151.0
|
|
||||
Net income attributable to noncontrolling interest
|
0.4
|
|
|
—
|
|
|
1.1
|
|
|
—
|
|
||||
Earnings available for common stock
|
|
$67.5
|
|
|
|
$61.6
|
|
|
|
$151.1
|
|
|
|
$151.0
|
|
|
September 30,
2015 |
|
December 31,
2014 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$35.7
|
|
|
|
$46.7
|
|
Accounts receivable, less allowance for doubtful accounts
|
173.6
|
|
|
185.8
|
|
||
Production fuel, at weighted average cost
|
36.8
|
|
|
31.1
|
|
||
Materials and supplies, at weighted average cost
|
35.3
|
|
|
29.2
|
|
||
Gas stored underground, at weighted average cost
|
19.3
|
|
|
36.3
|
|
||
Regulatory assets
|
58.9
|
|
|
29.4
|
|
||
Other
|
94.1
|
|
|
98.7
|
|
||
Total current assets
|
453.7
|
|
|
457.2
|
|
||
Property, plant and equipment, net
|
4,094.4
|
|
|
3,938.9
|
|
||
Investments:
|
|
|
|
||||
Investment in American Transmission Company LLC
|
296.7
|
|
|
286.5
|
|
||
Other
|
19.1
|
|
|
19.5
|
|
||
Total investments
|
315.8
|
|
|
306.0
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
378.8
|
|
|
396.4
|
|
||
Deferred charges and other
|
20.3
|
|
|
29.7
|
|
||
Total other assets
|
399.1
|
|
|
426.1
|
|
||
Total assets
|
|
$5,263.0
|
|
|
|
$5,128.2
|
|
LIABILITIES AND EQUITY
|
|
||||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$—
|
|
|
|
$30.6
|
|
Accounts payable
|
122.5
|
|
|
112.9
|
|
||
Accounts payable to associated companies
|
23.3
|
|
|
25.5
|
|
||
Regulatory liabilities
|
63.4
|
|
|
70.4
|
|
||
Other
|
86.5
|
|
|
70.9
|
|
||
Total current liabilities
|
295.7
|
|
|
310.3
|
|
||
Long-term debt, net (excluding current portion)
|
1,543.6
|
|
|
1,543.3
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred income tax liabilities
|
1,030.1
|
|
|
970.0
|
|
||
Regulatory liabilities
|
178.2
|
|
|
167.3
|
|
||
Capital lease obligations - Sheboygan Falls Energy Facility
|
85.1
|
|
|
89.4
|
|
||
Pension and other benefit obligations
|
178.2
|
|
|
180.4
|
|
||
Other
|
181.6
|
|
|
155.2
|
|
||
Total other liabilities
|
1,653.2
|
|
|
1,562.3
|
|
||
Commitments and contingencies (
Note 13
)
|
|
|
|
||||
Equity:
|
|
|
|
||||
Wisconsin Power and Light Company common equity:
|
|
|
|
||||
Common stock - $5 par value - 18,000,000 shares authorized; 13,236,601 shares outstanding
|
66.2
|
|
|
66.2
|
|
||
Additional paid-in capital
|
959.0
|
|
|
959.0
|
|
||
Retained earnings
|
734.4
|
|
|
678.6
|
|
||
Total Wisconsin Power and Light Company common equity
|
1,759.6
|
|
|
1,703.8
|
|
||
Noncontrolling interest
|
10.9
|
|
|
8.5
|
|
||
Total equity
|
1,770.5
|
|
|
1,712.3
|
|
||
Total liabilities and equity
|
|
$5,263.0
|
|
|
|
$5,128.2
|
|
|
For the Nine Months
|
||||||
|
Ended September 30,
|
||||||
|
2015
|
|
2014
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$152.2
|
|
|
|
$151.0
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
137.5
|
|
|
135.0
|
|
||
Other amortizations
|
4.0
|
|
|
36.1
|
|
||
Deferred tax expense and investment tax credits
|
61.0
|
|
|
58.4
|
|
||
Other
|
(12.3
|
)
|
|
(14.3
|
)
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Derivative assets
|
8.8
|
|
|
(32.8
|
)
|
||
Regulatory liabilities
|
1.6
|
|
|
46.3
|
|
||
Derivative liabilities
|
19.0
|
|
|
(9.7
|
)
|
||
Other
|
4.1
|
|
|
(4.2
|
)
|
||
Net cash flows from operating activities
|
375.9
|
|
|
365.8
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Utility construction and acquisition expenditures
|
(246.3
|
)
|
|
(229.2
|
)
|
||
Other
|
(13.3
|
)
|
|
(4.6
|
)
|
||
Net cash flows used for investing activities
|
(259.6
|
)
|
|
(233.8
|
)
|
||
Cash flows used for financing activities:
|
|
|
|
||||
Common stock dividends
|
(95.3
|
)
|
|
(89.1
|
)
|
||
Payments to retire long-term debt
|
(30.6
|
)
|
|
(8.5
|
)
|
||
Net change in commercial paper
|
—
|
|
|
(37.0
|
)
|
||
Other
|
(1.4
|
)
|
|
4.4
|
|
||
Net cash flows used for financing activities
|
(127.3
|
)
|
|
(130.2
|
)
|
||
Net increase (decrease) in cash and cash equivalents
|
(11.0
|
)
|
|
1.8
|
|
||
Cash and cash equivalents at beginning of period
|
46.7
|
|
|
0.5
|
|
||
Cash and cash equivalents at end of period
|
|
$35.7
|
|
|
|
$2.3
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash paid during the period for:
|
|
|
|
||||
Interest
|
|
($69.2
|
)
|
|
|
($65.6
|
)
|
Income taxes, net
|
|
($10.0
|
)
|
|
|
($8.7
|
)
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$57.2
|
|
|
|
$39.9
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
September 30,
2015 |
|
December 31,
2014 |
|
September 30,
2015 |
|
December 31,
2014 |
|
September 30,
2015 |
|
December 31,
2014 |
||||||||||||
Tax-related
|
|
$976.5
|
|
|
|
$955.3
|
|
|
|
$947.3
|
|
|
|
$928.0
|
|
|
|
$29.2
|
|
|
|
$27.3
|
|
Pension and OPEB costs
|
548.4
|
|
|
570.2
|
|
|
278.6
|
|
|
287.9
|
|
|
269.8
|
|
|
282.3
|
|
||||||
AROs
|
81.8
|
|
|
73.7
|
|
|
47.6
|
|
|
41.4
|
|
|
34.2
|
|
|
32.3
|
|
||||||
Derivatives
|
68.4
|
|
|
46.9
|
|
|
29.3
|
|
|
28.0
|
|
|
39.1
|
|
|
18.9
|
|
||||||
Commodity cost recovery
|
33.2
|
|
|
31.1
|
|
|
1.2
|
|
|
0.4
|
|
|
32.0
|
|
|
30.7
|
|
||||||
Emission allowances
|
26.5
|
|
|
27.4
|
|
|
26.5
|
|
|
27.4
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
73.1
|
|
|
79.1
|
|
|
39.7
|
|
|
44.8
|
|
|
33.4
|
|
|
34.3
|
|
||||||
|
|
$1,807.9
|
|
|
|
$1,783.7
|
|
|
|
$1,370.2
|
|
|
|
$1,357.9
|
|
|
|
$437.7
|
|
|
|
$425.8
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
September 30,
2015 |
|
December 31,
2014 |
|
September 30,
2015 |
|
December 31,
2014 |
|
September 30,
2015 |
|
December 31,
2014 |
||||||||||||
Cost of removal obligations
|
|
$406.2
|
|
|
|
$421.7
|
|
|
|
$261.3
|
|
|
|
$279.1
|
|
|
|
$144.9
|
|
|
|
$142.6
|
|
IPL’s tax benefit riders
|
179.5
|
|
|
243.0
|
|
|
179.5
|
|
|
243.0
|
|
|
—
|
|
|
—
|
|
||||||
Energy efficiency cost recovery
|
53.0
|
|
|
64.3
|
|
|
—
|
|
|
—
|
|
|
53.0
|
|
|
64.3
|
|
||||||
Commodity cost recovery
|
33.8
|
|
|
15.4
|
|
|
22.9
|
|
|
15.1
|
|
|
10.9
|
|
|
0.3
|
|
||||||
Electric transmission cost recovery
|
31.4
|
|
|
19.4
|
|
|
15.8
|
|
|
19.4
|
|
|
15.6
|
|
|
—
|
|
||||||
Other
|
40.2
|
|
|
57.4
|
|
|
23.0
|
|
|
26.9
|
|
|
17.2
|
|
|
30.5
|
|
||||||
|
|
$744.1
|
|
|
|
$821.2
|
|
|
|
$502.5
|
|
|
|
$583.5
|
|
|
|
$241.6
|
|
|
|
$237.7
|
|
Electric tax benefit rider credits
|
|
$55
|
|
Gas tax benefit rider credits
|
9
|
|
|
|
|
$64
|
|
|
Three Months
|
|
Nine Months
|
||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||
Billing credits to reduce retail electric customers’ bills
|
$7
|
|
|
$26
|
|
|
|
$19
|
|
|
|
$46
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)
|
|
$137.0
|
|
|
|
$92.0
|
|
|
|
$137.0
|
|
|
|
$92.0
|
|
Average outstanding aggregate cash proceeds (based on daily outstanding balances)
|
41.2
|
|
|
54.5
|
|
|
62.1
|
|
|
38.9
|
|
|
September 30, 2015
|
|
December 31, 2014
|
||||
Customer accounts receivable
|
|
$128.1
|
|
|
|
$134.8
|
|
Unbilled utility revenues
|
72.8
|
|
|
69.7
|
|
||
Other receivables
|
0.3
|
|
|
0.1
|
|
||
Receivables sold to third party
|
201.2
|
|
|
204.6
|
|
||
Less: cash proceeds (a)
|
1.0
|
|
|
22.0
|
|
||
Deferred proceeds
|
200.2
|
|
|
182.6
|
|
||
Less: allowance for doubtful accounts
|
4.7
|
|
|
5.4
|
|
||
Fair value of deferred proceeds
|
|
$195.5
|
|
|
|
$177.2
|
|
Outstanding receivables past due
|
|
$15.4
|
|
|
|
$19.9
|
|
(a)
|
Changes in cash proceeds are presented in “Sales of accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements.
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Collections reinvested in receivables
|
|
$480.1
|
|
|
|
$520.1
|
|
|
|
$1,403.1
|
|
|
|
$1,537.3
|
|
Credit losses, net of recoveries
|
3.3
|
|
|
6.4
|
|
|
6.8
|
|
|
12.8
|
|
|
Alliant Energy
|
|
WPL
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||||||
ATC
|
|
($10.9
|
)
|
|
|
($11.2
|
)
|
|
|
($29.6
|
)
|
|
|
($33.5
|
)
|
|
|
($10.9
|
)
|
|
|
($11.2
|
)
|
|
|
($29.6
|
)
|
|
|
($33.5
|
)
|
Other
|
(0.2
|
)
|
|
(0.3
|
)
|
|
0.7
|
|
|
(0.7
|
)
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
(0.6
|
)
|
|
(0.7
|
)
|
||||||||
|
|
($11.1
|
)
|
|
|
($11.5
|
)
|
|
|
($28.9
|
)
|
|
|
($34.2
|
)
|
|
|
($11.1
|
)
|
|
|
($11.4
|
)
|
|
|
($30.2
|
)
|
|
|
($34.2
|
)
|
Shares outstanding, January 1, 2015
|
110,935,680
|
|
At-the-market offering program
|
2,186,617
|
|
Shareowner Direct Plan
|
204,213
|
|
Equity-based compensation plans (
Note 9(b)
)
|
56,378
|
|
Other
|
(22,463
|
)
|
Shares outstanding, September 30, 2015
|
113,360,425
|
|
|
Alliant Energy
|
|
Parent
|
|
|
|
|
September 30, 2015
|
(Consolidated)
|
|
Company
|
|
IPL
|
|
WPL
|
Commercial paper:
|
|
|
|
|
|
|
|
Amount outstanding
|
$109.1
|
|
$109.1
|
|
$—
|
|
$—
|
Weighted average remaining maturity
|
3 days
|
|
3 days
|
|
N/A
|
|
N/A
|
Weighted average interest rates
|
0.4%
|
|
0.4%
|
|
N/A
|
|
N/A
|
Available credit facility capacity
|
$890.9
|
|
$190.9
|
|
$300.0
|
|
$400.0
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||
Three Months Ended September 30
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||
Maximum amount outstanding
(based on daily outstanding balances)
|
|
$181.2
|
|
|
|
$353.8
|
|
|
|
$18.4
|
|
|
|
$38.0
|
|
|
$—
|
|
|
$185.0
|
|
Average amount outstanding
(based on daily outstanding balances)
|
|
$122.4
|
|
|
|
$307.1
|
|
|
|
$0.5
|
|
|
|
$0.4
|
|
|
$—
|
|
|
$157.9
|
|
Weighted average interest rates
|
0.4
|
%
|
|
0.2
|
%
|
|
0.4
|
%
|
|
0.3
|
%
|
|
N/A
|
|
0.1
|
%
|
|||||
Nine Months Ended September 30
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Maximum amount outstanding
(based on daily outstanding balances)
|
|
$181.2
|
|
|
|
$353.8
|
|
|
|
$18.4
|
|
|
|
$38.0
|
|
|
$—
|
|
|
$204.7
|
|
Average amount outstanding
(based on daily outstanding balances)
|
|
$114.5
|
|
|
|
$281.9
|
|
|
|
$0.2
|
|
|
|
$0.3
|
|
|
$—
|
|
|
$157.5
|
|
Weighted average interest rates
|
0.4
|
%
|
|
0.2
|
%
|
|
0.4
|
%
|
|
0.2
|
%
|
|
N/A
|
|
0.1
|
%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Three Months Ended September 30
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||
Statutory federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
IPL’s tax benefit riders
|
(11.0
|
)
|
|
(13.0
|
)
|
|
(30.0
|
)
|
|
(39.2
|
)
|
|
—
|
|
|
—
|
|
Effect of rate-making on property-related differences
|
(7.1
|
)
|
|
(8.6
|
)
|
|
(18.7
|
)
|
|
(22.4
|
)
|
|
(0.7
|
)
|
|
(0.8
|
)
|
Production tax credits
|
(6.7
|
)
|
|
(6.8
|
)
|
|
(8.7
|
)
|
|
(9.3
|
)
|
|
(6.0
|
)
|
|
(6.2
|
)
|
Other items, net
|
3.0
|
|
|
0.7
|
|
|
2.9
|
|
|
2.2
|
|
|
4.5
|
|
|
—
|
|
Overall income tax rate
|
13.2
|
%
|
|
7.3
|
%
|
|
(19.5
|
%)
|
|
(33.7
|
%)
|
|
32.8
|
%
|
|
28.0
|
%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Nine Months Ended September 30
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||
Statutory federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
IPL’s tax benefit riders
|
(10.6
|
)
|
|
(12.4
|
)
|
|
(28.2
|
)
|
|
(36.5
|
)
|
|
—
|
|
|
—
|
|
Effect of rate-making on property-related differences
|
(7.1
|
)
|
|
(6.7
|
)
|
|
(17.9
|
)
|
|
(18.4
|
)
|
|
(0.6
|
)
|
|
(0.7
|
)
|
Production tax credits
|
(6.6
|
)
|
|
(6.6
|
)
|
|
(8.2
|
)
|
|
(8.8
|
)
|
|
(6.2
|
)
|
|
(6.2
|
)
|
Other items, net
|
3.7
|
|
|
2.9
|
|
|
3.5
|
|
|
3.2
|
|
|
4.5
|
|
|
3.0
|
|
Overall income tax rate
|
14.4
|
%
|
|
12.2
|
%
|
|
(15.8
|
%)
|
|
(25.5
|
%)
|
|
32.7
|
%
|
|
31.1
|
%
|
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Earliest
Expiration Date
|
|
Tax Carryforwards
|
|
Deferred
Tax Assets
|
|
Tax Carryforwards
|
|
Deferred
Tax Assets
|
|
Tax Carryforwards
|
|
Deferred
Tax Assets
|
||||||||||||
Federal net operating losses
|
2030
|
|
|
$527
|
|
|
|
$180
|
|
|
|
$231
|
|
|
|
$79
|
|
|
|
$218
|
|
|
|
$75
|
|
State net operating losses
|
2018
|
|
731
|
|
|
37
|
|
|
183
|
|
|
9
|
|
|
126
|
|
|
6
|
|
||||||
Federal tax credits
|
2022
|
|
227
|
|
|
224
|
|
|
80
|
|
|
78
|
|
|
89
|
|
|
87
|
|
||||||
|
|
|
|
|
|
$441
|
|
|
|
|
|
$166
|
|
|
|
|
|
$168
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
Alliant Energy
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||||||
Service cost
|
|
$4.0
|
|
|
|
$3.3
|
|
|
|
$11.9
|
|
|
|
$9.9
|
|
|
|
$1.3
|
|
|
|
$1.3
|
|
|
|
$4.1
|
|
|
|
$3.9
|
|
Interest cost
|
13.5
|
|
|
13.6
|
|
|
40.3
|
|
|
40.6
|
|
|
2.3
|
|
|
2.4
|
|
|
6.8
|
|
|
7.1
|
|
||||||||
Expected return on plan assets
|
(18.7
|
)
|
|
(18.8
|
)
|
|
(56.2
|
)
|
|
(56.3
|
)
|
|
(2.1
|
)
|
|
(2.1
|
)
|
|
(6.3
|
)
|
|
(6.2
|
)
|
||||||||
Amortization of prior service credit
|
(0.1
|
)
|
|
—
|
|
|
(0.2
|
)
|
|
—
|
|
|
(2.8
|
)
|
|
(3.0
|
)
|
|
(8.4
|
)
|
|
(8.9
|
)
|
||||||||
Amortization of actuarial loss
|
8.8
|
|
|
4.8
|
|
|
26.5
|
|
|
14.6
|
|
|
1.2
|
|
|
0.6
|
|
|
3.6
|
|
|
1.8
|
|
||||||||
Additional benefit costs
|
0.1
|
|
|
—
|
|
|
0.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
|
|
$7.6
|
|
|
|
$2.9
|
|
|
|
$22.7
|
|
|
|
$8.8
|
|
|
|
($0.1
|
)
|
|
|
($0.8
|
)
|
|
|
($0.2
|
)
|
|
|
($2.3
|
)
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
IPL
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||||||
Service cost
|
|
$2.2
|
|
|
|
$1.8
|
|
|
|
$6.6
|
|
|
|
$5.4
|
|
|
|
$0.6
|
|
|
|
$0.6
|
|
|
|
$1.8
|
|
|
|
$1.8
|
|
Interest cost
|
6.2
|
|
|
6.2
|
|
|
18.7
|
|
|
18.8
|
|
|
0.9
|
|
|
1.0
|
|
|
2.8
|
|
|
3.0
|
|
||||||||
Expected return on plan assets
|
(8.9
|
)
|
|
(8.9
|
)
|
|
(26.8
|
)
|
|
(26.8
|
)
|
|
(1.4
|
)
|
|
(1.5
|
)
|
|
(4.2
|
)
|
|
(4.4
|
)
|
||||||||
Amortization of prior service credit
|
—
|
|
|
—
|
|
|
(0.1
|
)
|
|
—
|
|
|
(1.5
|
)
|
|
(1.6
|
)
|
|
(4.6
|
)
|
|
(4.7
|
)
|
||||||||
Amortization of actuarial loss
|
3.8
|
|
|
2.0
|
|
|
11.5
|
|
|
6.0
|
|
|
0.6
|
|
|
0.3
|
|
|
1.7
|
|
|
0.8
|
|
||||||||
|
|
$3.3
|
|
|
|
$1.1
|
|
|
|
$9.9
|
|
|
|
$3.4
|
|
|
|
($0.8
|
)
|
|
|
($1.2
|
)
|
|
|
($2.5
|
)
|
|
|
($3.5
|
)
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
WPL
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||||||
Service cost
|
|
$1.4
|
|
|
|
$1.3
|
|
|
|
$4.3
|
|
|
|
$3.7
|
|
|
|
$0.5
|
|
|
|
$0.5
|
|
|
|
$1.6
|
|
|
|
$1.5
|
|
Interest cost
|
5.6
|
|
|
5.7
|
|
|
16.9
|
|
|
17.0
|
|
|
0.9
|
|
|
1.0
|
|
|
2.7
|
|
|
2.9
|
|
||||||||
Expected return on plan assets
|
(8.1
|
)
|
|
(8.1
|
)
|
|
(24.3
|
)
|
|
(24.3
|
)
|
|
(0.3
|
)
|
|
(0.4
|
)
|
|
(1.1
|
)
|
|
(1.0
|
)
|
||||||||
Amortization of prior service cost (credit)
|
0.1
|
|
|
—
|
|
|
0.2
|
|
|
0.2
|
|
|
(0.9
|
)
|
|
(1.0
|
)
|
|
(2.6
|
)
|
|
(2.9
|
)
|
||||||||
Amortization of actuarial loss
|
4.2
|
|
|
2.3
|
|
|
12.6
|
|
|
6.9
|
|
|
0.6
|
|
|
0.3
|
|
|
1.7
|
|
|
0.9
|
|
||||||||
Additional benefit costs
|
0.1
|
|
|
—
|
|
|
0.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
|
|
$3.3
|
|
|
|
$1.2
|
|
|
|
$10.1
|
|
|
|
$3.5
|
|
|
|
$0.8
|
|
|
|
$0.4
|
|
|
|
$2.3
|
|
|
|
$1.4
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||||||||||||||
401(k) costs
|
|
$6.4
|
|
|
|
$5.3
|
|
|
|
$18.7
|
|
|
|
$17.3
|
|
|
|
$3.3
|
|
|
|
$2.7
|
|
|
|
$9.6
|
|
|
|
$8.4
|
|
|
|
$2.9
|
|
|
|
$2.4
|
|
|
|
$8.4
|
|
|
|
$8.3
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||||||||||||||
Compensation expense
|
|
$0.3
|
|
|
|
$1.2
|
|
|
|
$5.8
|
|
|
|
$7.4
|
|
|
|
$0.2
|
|
|
|
$0.6
|
|
|
|
$3.1
|
|
|
|
$4.0
|
|
|
|
$0.1
|
|
|
|
$0.5
|
|
|
|
$2.5
|
|
|
|
$3.1
|
|
Income tax benefits
|
0.2
|
|
|
0.5
|
|
|
2.4
|
|
|
3.0
|
|
|
0.1
|
|
|
0.2
|
|
|
1.3
|
|
|
1.6
|
|
|
—
|
|
|
0.3
|
|
|
1.0
|
|
|
1.3
|
|
|
2015
|
|
2014
|
||
Nonvested shares, January 1
|
144,424
|
|
|
139,940
|
|
Granted
|
45,403
|
|
|
51,221
|
|
Vested
|
(45,612
|
)
|
|
(45,235
|
)
|
Forfeited
|
—
|
|
|
(1,502
|
)
|
Nonvested shares, September 30
|
144,215
|
|
|
144,424
|
|
|
2015
|
|
2014
|
||||
|
2012 Grant
|
|
2011 Grant
|
||||
Performance shares vested
|
45,612
|
|
|
45,235
|
|
||
Percentage of target number of performance shares
|
167.5
|
%
|
|
147.5
|
%
|
||
Aggregate payout value (in millions)
|
|
$5.1
|
|
|
|
$3.4
|
|
Payout - cash (in millions)
|
|
$3.2
|
|
|
|
$2.9
|
|
Payout - common stock shares issued
|
10,975
|
|
|
4,810
|
|
|
2015
|
|
2014
|
||
Nonvested units, January 1
|
63,665
|
|
|
65,912
|
|
Granted
|
17,837
|
|
|
20,422
|
|
Vested
|
(22,845
|
)
|
|
(20,751
|
)
|
Forfeited
|
(451
|
)
|
|
(958
|
)
|
Nonvested units, September 30
|
58,206
|
|
|
64,625
|
|
|
2015
|
|
2014
|
||||
|
2012 Grant
|
|
2011 Grant
|
||||
Performance units vested
|
22,845
|
|
|
20,751
|
|
||
Percentage of target number of performance units
|
167.5
|
%
|
|
147.5
|
%
|
||
Payout value (in millions)
|
|
$1.6
|
|
|
|
$1.2
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||||||||||
|
2015 Grant
|
|
2014 Grant
|
|
2013 Grant
|
|
2015 Grant
|
|
2014 Grant
|
|
2013 Grant
|
||||||||||||
Nonvested awards
|
45,403
|
|
|
49,719
|
|
|
49,093
|
|
|
17,386
|
|
|
19,440
|
|
|
21,380
|
|
||||||
Alliant Energy common stock closing price on September 30, 2015
|
|
$58.49
|
|
|
|
$58.49
|
|
|
|
$58.49
|
|
|
|
|
|
|
|
||||||
Alliant Energy common stock closing price on grant date
|
|
|
|
|
|
|
|
$65.09
|
|
|
|
$53.77
|
|
|
|
$47.58
|
|
||||||
Estimated payout percentage based on performance criteria
|
70
|
%
|
|
105
|
%
|
|
150
|
%
|
|
70
|
%
|
|
105
|
%
|
|
150
|
%
|
||||||
Fair values of each nonvested award
|
|
$40.94
|
|
|
|
$61.41
|
|
|
|
$87.74
|
|
|
|
$45.56
|
|
|
|
$56.46
|
|
|
|
$71.37
|
|
|
2015
|
|
2014
|
||||||||||
|
Shares
|
|
Weighted
Average
Fair Value
|
|
Shares
|
|
Weighted
Average
Fair Value
|
||||||
Nonvested shares, January 1
|
98,812
|
|
|
|
$50.69
|
|
|
158,922
|
|
|
|
$42.71
|
|
Granted
|
45,403
|
|
|
65.09
|
|
|
51,221
|
|
|
53.77
|
|
||
Vested (a)
|
(49,093
|
)
|
|
47.58
|
|
|
(90,847
|
)
|
|
40.91
|
|
||
Forfeited
|
—
|
|
|
—
|
|
|
(20,484
|
)
|
|
39.85
|
|
||
Nonvested shares, September 30
|
95,122
|
|
|
59.17
|
|
|
98,812
|
|
|
50.69
|
|
(a)
|
In 2015,
49,093
performance contingent restricted shares granted in 2013 vested because the specified performance criteria for such shares were met. In 2014,
45,612
and
45,235
performance contingent restricted shares granted in 2012 and 2011, respectively, vested because the specified performance criteria for such shares were met.
|
|
2015
|
|
2014
|
||
Nonvested awards, January 1
|
78,930
|
|
|
96,977
|
|
Granted
|
41,105
|
|
|
42,446
|
|
Vested (a)
|
(37,332
|
)
|
|
(55,517
|
)
|
Forfeited
|
(827
|
)
|
|
(4,295
|
)
|
Nonvested awards, September 30
|
81,876
|
|
|
79,611
|
|
(a)
|
In 2015,
37,332
performance contingent cash awards granted in 2013 vested, resulting in cash payouts valued at
$2.4 million
. In 2014,
34,766
and
20,751
performance contingent cash awards granted in 2012 and 2011 vested, resulting in cash payouts valued at
$1.9 million
and
$1.1 million
, respectively.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||
Balance, January 1
|
|
$114.0
|
|
|
|
$109.7
|
|
|
|
$51.8
|
|
|
|
$47.9
|
|
|
|
$52.4
|
|
|
|
$52.4
|
|
Revisions in estimated cash flows
|
8.9
|
|
|
—
|
|
|
11.9
|
|
|
—
|
|
|
(1.9
|
)
|
|
—
|
|
||||||
Liabilities settled
|
(7.1
|
)
|
|
(1.0
|
)
|
|
(3.1
|
)
|
|
(0.5
|
)
|
|
(4.0
|
)
|
|
(0.5
|
)
|
||||||
Liabilities incurred (a)
|
76.1
|
|
|
16.5
|
|
|
59.9
|
|
|
16.3
|
|
|
16.2
|
|
|
0.2
|
|
||||||
Accretion expense
|
3.4
|
|
|
3.3
|
|
|
1.6
|
|
|
1.6
|
|
|
1.4
|
|
|
1.3
|
|
||||||
Balance, September 30
|
|
$195.3
|
|
|
|
$128.5
|
|
|
|
$122.1
|
|
|
|
$65.3
|
|
|
|
$64.1
|
|
|
|
$53.4
|
|
(a)
|
In April 2015, the EPA published the final CCR Rule, which regulates CCR as a non-hazardous waste and is effective October 2015. IPL and WPL have
nine
and
three
coal-fired EGUs, respectively, with coal ash ponds that are impacted by this rule. In addition, IPL and WPL have
four
and
two
active CCR landfills, respectively, that are impacted by this rule. During the nine months ended September 30, 2015, Alliant Energy, IPL and WPL recognized additional AROs of
$74 million
,
$57 million
and
$17 million
, respectively, as a result of the final CCR Rule. The increases in AROs resulted in corresponding increases in “Property, plant and equipment, net” on the respective balance sheets. Actual costs resulting from the CCR rule may be different than the amounts recorded during the nine months ended September 30, 2015 due to potential changes in compliance strategies that will be used, as well as other potential cost estimate changes. Expenditures incurred by IPL and WPL to comply with the CCR Rule are anticipated to be recovered in rates from their customers.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
September 30, 2015
|
Carrying
Amount
|
|
Fair
Value
|
|
Carrying
Amount
|
|
Fair
Value
|
|
Carrying
Amount
|
|
Fair
Value
|
||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Derivative assets (
Note 12
)
|
|
$20.3
|
|
|
|
$20.3
|
|
|
|
$18.5
|
|
|
|
$18.5
|
|
|
|
$1.8
|
|
|
|
$1.8
|
|
Deferred proceeds (sales of receivables) (
Note 4(a)
)
|
195.5
|
|
|
195.5
|
|
|
195.5
|
|
|
195.5
|
|
|
—
|
|
|
—
|
|
||||||
Capitalization and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Long-term debt (including current maturities) (
Note 7(b)
)
|
3,858.8
|
|
|
4,394.3
|
|
|
1,868.5
|
|
|
2,115.3
|
|
|
1,543.6
|
|
|
1,825.5
|
|
||||||
Cumulative preferred stock
|
200.0
|
|
|
201.3
|
|
|
200.0
|
|
|
201.3
|
|
|
—
|
|
|
—
|
|
||||||
Derivative liabilities (
Note 12
)
|
59.1
|
|
|
59.1
|
|
|
22.0
|
|
|
22.0
|
|
|
37.1
|
|
|
37.1
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
December 31, 2014
|
Carrying
Amount
|
|
Fair
Value
|
|
Carrying
Amount
|
|
Fair
Value
|
|
Carrying
Amount
|
|
Fair
Value
|
||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Derivative assets (
Note 12
)
|
|
$38.6
|
|
|
|
$38.6
|
|
|
|
$28.0
|
|
|
|
$28.0
|
|
|
|
$10.6
|
|
|
|
$10.6
|
|
Deferred proceeds (sales of receivables) (
Note 4(a)
)
|
177.2
|
|
|
177.2
|
|
|
177.2
|
|
|
177.2
|
|
|
—
|
|
|
—
|
|
||||||
Capitalization and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Long-term debt (including current maturities) (
Note 7(b)
)
|
3,789.7
|
|
|
4,418.2
|
|
|
1,768.7
|
|
|
2,053.0
|
|
|
1,573.9
|
|
|
1,908.9
|
|
||||||
Cumulative preferred stock
|
200.0
|
|
|
200.2
|
|
|
200.0
|
|
|
200.2
|
|
|
—
|
|
|
—
|
|
||||||
Derivative liabilities (
Note 12
)
|
37.6
|
|
|
37.6
|
|
|
19.5
|
|
|
19.5
|
|
|
18.1
|
|
|
18.1
|
|
Risk management purpose
|
Type of instrument
|
Mitigate pricing volatility for:
|
|
Electricity purchased to supply customers
|
Electric swap and physical forward contracts (IPL and WPL)
|
Fuel used to supply natural gas-fired EGUs
|
Natural gas swap and physical forward contracts (IPL and WPL)
|
Natural gas supplied to retail customers
|
Natural gas options and physical forward contracts (IPL and WPL)
|
|
Natural gas swap contracts (IPL)
|
Fuel used at coal-fired EGUs
|
Coal physical forward contracts (IPL and WPL)
|
Optimize the value of natural gas pipeline capacity
|
Natural gas physical forward contracts (IPL and WPL)
|
|
Natural gas swap contracts (IPL)
|
Manage transmission congestion costs
|
FTRs (IPL and WPL)
|
Alliant Energy
|
September 30, 2015
|
|
December 31, 2014
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Derivatives - commodity contracts
|
|
$20.3
|
|
|
|
$—
|
|
|
|
$2.6
|
|
|
|
$17.7
|
|
|
|
$38.6
|
|
|
|
$—
|
|
|
|
$2.6
|
|
|
|
$36.0
|
|
Deferred proceeds
|
195.5
|
|
|
—
|
|
|
—
|
|
|
195.5
|
|
|
177.2
|
|
|
—
|
|
|
—
|
|
|
177.2
|
|
||||||||
Capitalization and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Long-term debt (including current maturities)
|
4,394.3
|
|
|
—
|
|
|
4,390.6
|
|
|
3.7
|
|
|
4,418.2
|
|
|
—
|
|
|
4,414.9
|
|
|
3.3
|
|
||||||||
Cumulative preferred stock
|
201.3
|
|
|
201.3
|
|
|
—
|
|
|
—
|
|
|
200.2
|
|
|
200.2
|
|
|
—
|
|
|
—
|
|
||||||||
Derivatives - commodity contracts
|
59.1
|
|
|
—
|
|
|
16.8
|
|
|
42.3
|
|
|
37.6
|
|
|
—
|
|
|
19.5
|
|
|
18.1
|
|
IPL
|
September 30, 2015
|
|
December 31, 2014
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Derivatives - commodity contracts
|
|
$18.5
|
|
|
|
$—
|
|
|
|
$2.1
|
|
|
|
$16.4
|
|
|
|
$28.0
|
|
|
|
$—
|
|
|
|
$2.4
|
|
|
|
$25.6
|
|
Deferred proceeds
|
195.5
|
|
|
—
|
|
|
—
|
|
|
195.5
|
|
|
177.2
|
|
|
—
|
|
|
—
|
|
|
177.2
|
|
||||||||
Capitalization and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Long-term debt (including current maturities)
|
2,115.3
|
|
|
—
|
|
|
2,115.3
|
|
|
—
|
|
|
2,053.0
|
|
|
—
|
|
|
2,053.0
|
|
|
—
|
|
||||||||
Cumulative preferred stock
|
201.3
|
|
|
201.3
|
|
|
—
|
|
|
—
|
|
|
200.2
|
|
|
200.2
|
|
|
—
|
|
|
—
|
|
||||||||
Derivatives - commodity contracts
|
22.0
|
|
|
—
|
|
|
9.4
|
|
|
12.6
|
|
|
19.5
|
|
|
—
|
|
|
13.3
|
|
|
6.2
|
|
WPL
|
September 30, 2015
|
|
December 31, 2014
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Derivatives - commodity contracts
|
|
$1.8
|
|
|
|
$—
|
|
|
|
$0.5
|
|
|
|
$1.3
|
|
|
|
$10.6
|
|
|
|
$—
|
|
|
|
$0.2
|
|
|
|
$10.4
|
|
Capitalization and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Long-term debt (including current maturities)
|
1,825.5
|
|
|
—
|
|
|
1,825.5
|
|
|
—
|
|
|
1,908.9
|
|
|
—
|
|
|
1,908.9
|
|
|
—
|
|
||||||||
Derivatives - commodity contracts
|
37.1
|
|
|
—
|
|
|
7.4
|
|
|
29.7
|
|
|
18.1
|
|
|
—
|
|
|
6.2
|
|
|
11.9
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Three Months Ended September 30
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Beginning balance, July 1
|
|
$0.6
|
|
|
|
$101.2
|
|
|
|
$73.4
|
|
|
|
$193.7
|
|
Total net losses (realized/unrealized) included in changes in net assets
|
(21.1
|
)
|
|
(12.7
|
)
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.4
|
)
|
|
(1.2
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(3.7
|
)
|
|
(19.0
|
)
|
|
122.1
|
|
|
(33.4
|
)
|
||||
Ending balance, September 30
|
|
($24.6
|
)
|
|
|
$68.3
|
|
|
|
$195.5
|
|
|
|
$160.3
|
|
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30
|
|
($18.4
|
)
|
|
|
($10.3
|
)
|
|
|
$—
|
|
|
|
$—
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Nine Months Ended September 30
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Beginning balance, January 1
|
|
$17.9
|
|
|
|
$4.4
|
|
|
|
$177.2
|
|
|
|
$203.5
|
|
Total net gains (losses) (realized/unrealized) included in changes in net assets
|
(58.2
|
)
|
|
43.0
|
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
0.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Purchases
|
36.9
|
|
|
76.7
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(1.7
|
)
|
|
(1.2
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(20.1
|
)
|
|
(54.6
|
)
|
|
18.3
|
|
|
(43.2
|
)
|
||||
Ending balance, September 30
|
|
($24.6
|
)
|
|
|
$68.3
|
|
|
|
$195.5
|
|
|
|
$160.3
|
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
|
|
($52.2
|
)
|
|
|
$34.6
|
|
|
|
$—
|
|
|
|
$—
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Three Months Ended September 30
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Beginning balance, July 1
|
|
$18.3
|
|
|
|
$64.2
|
|
|
|
$73.4
|
|
|
|
$193.7
|
|
Total net losses (realized/unrealized) included in changes in net assets
|
(8.6
|
)
|
|
(10.1
|
)
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.4
|
)
|
|
(1.0
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(5.5
|
)
|
|
(16.6
|
)
|
|
122.1
|
|
|
(33.4
|
)
|
||||
Ending balance, September 30
|
|
$3.8
|
|
|
|
$36.5
|
|
|
|
$195.5
|
|
|
|
$160.3
|
|
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30
|
|
($8.0
|
)
|
|
|
($9.6
|
)
|
|
|
$—
|
|
|
|
$—
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Nine Months Ended September 30
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Beginning balance, January 1
|
|
$19.4
|
|
|
|
$14.6
|
|
|
|
$177.2
|
|
|
|
$203.5
|
|
Total net losses (realized/unrealized) included in changes in net assets
|
(26.0
|
)
|
|
(5.1
|
)
|
|
—
|
|
|
—
|
|
||||
Purchases
|
33.1
|
|
|
68.8
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(1.6
|
)
|
|
(1.0
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(21.1
|
)
|
|
(40.8
|
)
|
|
18.3
|
|
|
(43.2
|
)
|
||||
Ending balance, September 30
|
|
$3.8
|
|
|
|
$36.5
|
|
|
|
$195.5
|
|
|
|
$160.3
|
|
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30
|
|
($21.2
|
)
|
|
|
($6.0
|
)
|
|
|
$—
|
|
|
|
$—
|
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
Three Months Ended September 30
|
2015
|
|
2014
|
||||
Beginning balance, July 1
|
|
($17.7
|
)
|
|
|
$37.0
|
|
Total net losses (realized/unrealized) included in changes in net assets
|
(12.5
|
)
|
|
(2.6
|
)
|
||
Sales
|
—
|
|
|
(0.2
|
)
|
||
Settlements
|
1.8
|
|
|
(2.4
|
)
|
||
Ending balance, September 30
|
|
($28.4
|
)
|
|
|
$31.8
|
|
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30
|
|
($10.4
|
)
|
|
|
($0.7
|
)
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
Nine Months Ended September 30
|
2015
|
|
2014
|
||||
Beginning balance, January 1
|
|
($1.5
|
)
|
|
|
($10.2
|
)
|
Total net gains (losses) (realized/unrealized) included in changes in net assets
|
(32.2
|
)
|
|
48.1
|
|
||
Transfers out of Level 3
|
0.6
|
|
|
—
|
|
||
Purchases
|
3.8
|
|
|
7.9
|
|
||
Sales
|
(0.1
|
)
|
|
(0.2
|
)
|
||
Settlements
|
1.0
|
|
|
(13.8
|
)
|
||
Ending balance, September 30
|
|
($28.4
|
)
|
|
|
$31.8
|
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
|
|
($31.0
|
)
|
|
|
$40.6
|
|
(a)
|
Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash proceeds received from the receivables sold.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
||||||||||||
September 30, 2015
|
|
($39.4
|
)
|
|
|
$14.8
|
|
|
|
($10.9
|
)
|
|
|
$14.7
|
|
|
|
($28.5
|
)
|
|
|
$0.1
|
|
December 31, 2014
|
(7.0
|
)
|
|
24.9
|
|
|
(3.2
|
)
|
|
22.6
|
|
|
(3.8
|
)
|
|
2.3
|
|
|
Electricity
|
|
FTRs
|
|
Natural Gas
|
|
Coal
|
||||||||||||
|
MWhs
|
|
Years
|
|
MWhs
|
|
Years
|
|
Dths
|
|
Years
|
|
Tons
|
|
Years
|
||||
Alliant Energy
|
7,024
|
|
|
2015-2018
|
|
15,793
|
|
|
2015-2016
|
|
103,867
|
|
|
2015-2020
|
|
4,918
|
|
|
2015-2018
|
IPL
|
1,302
|
|
|
2015-2016
|
|
8,880
|
|
|
2015-2016
|
|
67,910
|
|
|
2015-2020
|
|
1,585
|
|
|
2015-2018
|
WPL
|
5,722
|
|
|
2015-2018
|
|
6,913
|
|
|
2015-2016
|
|
35,957
|
|
|
2015-2017
|
|
3,333
|
|
|
2015-2018
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Commodity contracts
|
September 30,
2015 |
|
December 31,
2014 |
|
September 30,
2015 |
|
December 31,
2014 |
|
September 30,
2015 |
|
December 31,
2014 |
||||||||||||
Current derivative assets
|
|
$19.5
|
|
|
|
$30.5
|
|
|
|
$17.8
|
|
|
|
$27.4
|
|
|
|
$1.7
|
|
|
|
$3.1
|
|
Non-current derivative assets
|
0.8
|
|
|
8.1
|
|
|
0.7
|
|
|
0.6
|
|
|
0.1
|
|
|
7.5
|
|
||||||
Current derivative liabilities
|
35.4
|
|
|
28.1
|
|
|
15.2
|
|
|
16.4
|
|
|
20.2
|
|
|
11.7
|
|
||||||
Non-current derivative liabilities
|
23.7
|
|
|
9.5
|
|
|
6.8
|
|
|
3.1
|
|
|
16.9
|
|
|
6.4
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||
Three Months Ended September 30
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Regulatory assets
|
|
($27.4
|
)
|
|
|
$8.3
|
|
|
|
($9.5
|
)
|
|
|
$7.3
|
|
|
|
($17.9
|
)
|
|
|
$1.0
|
|
Regulatory liabilities
|
(2.5
|
)
|
|
(6.2
|
)
|
|
(1.2
|
)
|
|
(2.0
|
)
|
|
(1.3
|
)
|
|
(4.2
|
)
|
||||||
Nine Months Ended September 30
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Regulatory assets
|
(69.5
|
)
|
|
13.8
|
|
|
(33.3
|
)
|
|
8.7
|
|
|
(36.2
|
)
|
|
5.1
|
|
||||||
Regulatory liabilities
|
(4.9
|
)
|
|
63.2
|
|
|
1.0
|
|
|
13.9
|
|
|
(5.9
|
)
|
|
49.3
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
September 30,
2015 |
|
December 31,
2014 |
|
September 30,
2015 |
|
December 31,
2014 |
|
September 30,
2015 |
|
December 31,
2014 |
||||||||||||
Aggregate fair value
|
|
$59.1
|
|
|
|
$37.6
|
|
|
|
$22.0
|
|
|
|
$19.5
|
|
|
|
$37.1
|
|
|
|
$18.1
|
|
Credit support to be posted if triggered
|
59.0
|
|
|
37.4
|
|
|
22.0
|
|
|
19.5
|
|
|
37.0
|
|
|
17.9
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Gross
|
|
|
|
Gross
|
|
|
|
Gross
|
|
|
||||||||||||
|
(as reported)
|
|
Net
|
|
(as reported)
|
|
Net
|
|
(as reported)
|
|
Net
|
||||||||||||
September 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Derivative assets
|
|
$20.3
|
|
|
|
$18.0
|
|
|
|
$18.5
|
|
|
|
$17.3
|
|
|
|
$1.8
|
|
|
|
$0.7
|
|
Derivative liabilities
|
59.1
|
|
|
56.8
|
|
|
22.0
|
|
|
20.8
|
|
|
37.1
|
|
|
36.0
|
|
||||||
December 31, 2014
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Derivative assets
|
38.6
|
|
|
33.0
|
|
|
28.0
|
|
|
24.7
|
|
|
10.6
|
|
|
8.3
|
|
||||||
Derivative liabilities
|
37.6
|
|
|
32.0
|
|
|
19.5
|
|
|
16.2
|
|
|
18.1
|
|
|
15.8
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Purchased power (a):
|
|
|
|
|
|
||||||
DAEC (IPL)
|
|
$1,448
|
|
|
|
$1,448
|
|
|
|
$—
|
|
Other
|
183
|
|
|
1
|
|
|
182
|
|
|||
|
1,631
|
|
|
1,449
|
|
|
182
|
|
|||
Natural gas
|
389
|
|
|
265
|
|
|
124
|
|
|||
Coal (b)
|
262
|
|
|
117
|
|
|
145
|
|
|||
SO2 emission allowances
|
22
|
|
|
22
|
|
|
—
|
|
|||
Other (c)
|
11
|
|
|
8
|
|
|
3
|
|
|||
|
|
$2,315
|
|
|
|
$1,861
|
|
|
|
$454
|
|
(a)
|
Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased.
|
(b)
|
Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of
September 30, 2015
regarding expected future usage, which is subject to change.
|
(c)
|
Includes individual commitments incurred during the normal course of business that exceeded
$1 million
at
September 30, 2015
.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Range of estimated future costs
|
|
$11
|
|
-
|
$29
|
|
|
$10
|
|
-
|
$26
|
|
|
$1
|
|
-
|
$3
|
Current and non-current environmental liabilities
|
16
|
|
13
|
|
3
|
•
|
SCR system at Edgewater Unit 5 by May 1, 2013 (placed in service in 2012);
|
•
|
Scrubbers and baghouses at Columbia Units 1 and 2 by December 31, 2014 (placed in service in 2014);
|
•
|
Scrubber and baghouse at Edgewater Unit 5 by December 31, 2016; and
|
•
|
SCR system at Columbia Unit 2 by December 31, 2018.
|
•
|
Scrubber and baghouse at the Ottumwa Generating Station by December 31, 2015 (placed in service in 2014);
|
•
|
Scrubber and baghouse at the Lansing Generating Station by December 31, 2016 (scrubber was placed in service in June 2015 and baghouse was placed in service in 2010); and
|
•
|
SCR system or equivalent NOx reduction system at the Ottumwa Generating Station by December 31, 2019.
|
•
|
M.L. Kapp Generating Station by August 31, 2015 (switched the fuel type from coal to natural gas in June 2015);
|
•
|
Prairie Creek Unit 4 by June 1, 2018;
|
•
|
Burlington Generating Station by December 31, 2021; and
|
•
|
Prairie Creek Units 1 and 3 by December 31, 2025.
|
|
Utility
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
Three Months Ended September 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$835.8
|
|
|
|
$38.0
|
|
|
|
$13.4
|
|
|
|
$887.2
|
|
|
|
$11.7
|
|
|
|
$898.9
|
|
Operating income (loss)
|
232.8
|
|
|
(5.7
|
)
|
|
0.2
|
|
|
227.3
|
|
|
8.6
|
|
|
235.9
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income (loss) from continuing operations, net of tax
|
|
|
|
|
|
|
184.9
|
|
|
(4.9
|
)
|
|
180.0
|
|
|||||||||
Loss from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
(0.1
|
)
|
|
(0.1
|
)
|
|||||||||
Net income (loss)
|
|
|
|
|
|
|
184.9
|
|
|
(5.0
|
)
|
|
179.9
|
|
|||||||||
Three Months Ended September 30, 2014
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$771.2
|
|
|
|
$47.2
|
|
|
|
$12.2
|
|
|
|
$830.6
|
|
|
|
$12.5
|
|
|
|
$843.1
|
|
Operating income (loss)
|
190.8
|
|
|
(4.4
|
)
|
|
1.4
|
|
|
187.8
|
|
|
7.0
|
|
|
194.8
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income (loss) from continuing operations, net of tax
|
|
|
|
|
|
|
164.1
|
|
|
(8.9
|
)
|
|
155.2
|
|
|||||||||
Loss from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
(1.9
|
)
|
|
(1.9
|
)
|
|||||||||
Net income (loss)
|
|
|
|
|
|
|
164.1
|
|
|
(10.8
|
)
|
|
153.3
|
|
|
Utility
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
Nine Months Ended September 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$2,147.5
|
|
|
|
$288.1
|
|
|
|
$44.6
|
|
|
|
$2,480.2
|
|
|
|
$33.3
|
|
|
|
$2,513.5
|
|
Operating income
|
438.4
|
|
|
28.6
|
|
|
8.7
|
|
|
475.7
|
|
|
22.1
|
|
|
497.8
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Income from continuing operations, net of tax
|
|
|
|
|
|
|
333.0
|
|
|
12.5
|
|
|
345.5
|
|
|||||||||
Loss from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
(1.4
|
)
|
|
(1.4
|
)
|
|||||||||
Net income
|
|
|
|
|
|
|
333.0
|
|
|
11.1
|
|
|
344.1
|
|
|||||||||
Nine Months Ended September 30, 2014
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$2,090.9
|
|
|
|
$364.8
|
|
|
|
$50.6
|
|
|
|
$2,506.3
|
|
|
|
$39.9
|
|
|
|
$2,546.2
|
|
Operating income
|
374.2
|
|
|
41.3
|
|
|
11.5
|
|
|
427.0
|
|
|
25.3
|
|
|
452.3
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income from continuing operations, net of tax
|
|
|
|
|
|
|
315.3
|
|
|
10.0
|
|
|
325.3
|
|
|||||||||
Loss from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
(2.2
|
)
|
|
(2.2
|
)
|
|||||||||
Net income
|
|
|
|
|
|
|
315.3
|
|
|
7.8
|
|
|
323.1
|
|
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Three Months Ended September 30, 2015
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$468.6
|
|
|
|
$23.1
|
|
|
|
$12.9
|
|
|
|
$504.6
|
|
Operating income (loss)
|
119.4
|
|
|
(2.9
|
)
|
|
0.5
|
|
|
117.0
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
117.4
|
|
|||||||
Three Months Ended September 30, 2014
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$435.9
|
|
|
|
$28.7
|
|
|
|
$11.6
|
|
|
|
$476.2
|
|
Operating income (loss)
|
94.7
|
|
|
(2.8
|
)
|
|
2.0
|
|
|
93.9
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
102.5
|
|
|||||||
Nine Months Ended September 30, 2015
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$1,170.6
|
|
|
|
$164.1
|
|
|
|
$41.1
|
|
|
|
$1,375.8
|
|
Operating income
|
193.6
|
|
|
15.3
|
|
|
7.4
|
|
|
216.3
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
181.9
|
|
|||||||
Nine Months Ended September 30, 2014
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$1,164.7
|
|
|
|
$208.1
|
|
|
|
$44.2
|
|
|
|
$1,417.0
|
|
Operating income
|
150.2
|
|
|
22.1
|
|
|
13.1
|
|
|
185.4
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
164.3
|
|
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Three Months Ended September 30, 2015
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$367.2
|
|
|
|
$14.9
|
|
|
|
$0.5
|
|
|
|
$382.6
|
|
Operating income (loss)
|
113.4
|
|
|
(2.8
|
)
|
|
(0.3
|
)
|
|
110.3
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
67.5
|
|
|||||||
Three Months Ended September 30, 2014
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$335.3
|
|
|
|
$18.5
|
|
|
|
$0.6
|
|
|
|
$354.4
|
|
Operating income (loss)
|
96.1
|
|
|
(1.6
|
)
|
|
(0.6
|
)
|
|
93.9
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
61.6
|
|
|||||||
Nine Months Ended September 30, 2015
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$976.9
|
|
|
|
$124.0
|
|
|
|
$3.5
|
|
|
|
$1,104.4
|
|
Operating income
|
244.8
|
|
|
13.3
|
|
|
1.3
|
|
|
259.4
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
151.1
|
|
|||||||
Nine Months Ended September 30, 2014
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$926.2
|
|
|
|
$156.7
|
|
|
|
$6.4
|
|
|
|
$1,089.3
|
|
Operating income (loss)
|
224.0
|
|
|
19.2
|
|
|
(1.6
|
)
|
|
241.6
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
151.0
|
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||||||
Corporate Services billings
|
|
$38
|
|
|
|
$37
|
|
|
|
$114
|
|
|
|
$111
|
|
|
|
$30
|
|
|
|
$30
|
|
|
|
$90
|
|
|
|
$89
|
|
Sales credited
|
2
|
|
|
2
|
|
|
8
|
|
|
6
|
|
|
9
|
|
|
2
|
|
|
21
|
|
|
4
|
|
||||||||
Purchases billed
|
110
|
|
|
106
|
|
|
278
|
|
|
313
|
|
|
16
|
|
|
34
|
|
|
49
|
|
|
92
|
|
|
IPL
|
|
WPL
|
||||
|
September 30, 2015
|
|
December 31, 2014
|
|
September 30, 2015
|
|
December 31, 2014
|
Net payables to Corporate Services
|
$101
|
|
$84
|
|
$55
|
|
$58
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
ATC billings to WPL
|
|
$25
|
|
|
|
$24
|
|
|
|
$75
|
|
|
|
$72
|
|
WPL billings to ATC
|
4
|
|
|
3
|
|
|
9
|
|
|
7
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Operating expenses
|
|
$0.3
|
|
|
|
$2.8
|
|
|
|
$2.3
|
|
|
|
$3.4
|
|
Loss before income taxes
|
(0.3
|
)
|
|
(2.8
|
)
|
|
(2.3
|
)
|
|
(3.4
|
)
|
||||
Income tax benefit
|
(0.2
|
)
|
|
(0.9
|
)
|
|
(0.9
|
)
|
|
(1.2
|
)
|
||||
Loss from discontinued operations, net of tax
|
|
($0.1
|
)
|
|
|
($1.9
|
)
|
|
|
($1.4
|
)
|
|
|
($2.2
|
)
|
Assets held for sale:
|
|
||
Current assets
|
|
$1.1
|
|
Property, plant and equipment, net
|
11.0
|
|
|
Non-current regulatory assets
|
7.0
|
|
|
Total assets held for sale
|
19.1
|
|
|
Liabilities held for sale:
|
|
||
Current liabilities
|
1.0
|
|
|
Other liabilities
|
7.1
|
|
|
Total liabilities held for sale
|
8.1
|
|
|
Net assets held for sale
|
|
$11.0
|
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
|
|
Alliant Energy
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utilities, ATC and Corporate Services
|
|
Non-regulated and Parent
|
|||
- Electric and gas services in IA (IPL)
|
|
- Transportation (Resources)
|
|||
- Electric and gas services in WI (WPL)
|
|
- Non-regulated Generation (Resources)
|
|||
- 16% interest in ATC (primarily WPL)
|
|
- Parent Company
|
|||
- Wholesale electric service in MN (IPL)
|
|
|
|||
- Corporate Services
|
|
|
|
2015
|
|
2014
|
||||||||||||
|
Income (Loss)
|
|
EPS
|
|
Income (Loss)
|
|
EPS
|
||||||||
Continuing operations:
|
|
|
|
|
|
|
|
||||||||
Utilities, ATC and Corporate Services
|
|
$188.1
|
|
|
|
$1.66
|
|
|
|
$166.7
|
|
|
|
$1.50
|
|
Non-regulated and Parent
|
(8.1
|
)
|
|
(0.07
|
)
|
|
(11.5
|
)
|
|
(0.10
|
)
|
||||
Income from continuing operations
|
180.0
|
|
|
1.59
|
|
|
155.2
|
|
|
1.40
|
|
||||
Loss from discontinued operations
|
(0.1
|
)
|
|
—
|
|
|
(1.9
|
)
|
|
(0.02
|
)
|
||||
Net income
|
|
$179.9
|
|
|
|
$1.59
|
|
|
|
$153.3
|
|
|
|
$1.38
|
|
•
|
$0.11 per share of lower retail electric customer billing credits at IPL in the
third
quarter of
2015
compared to the
third
quarter of
2014
related to an approved settlement agreement in 2014 for its Iowa retail electric base rates;
|
•
|
an estimated $0.06 per share of higher estimated temperature-normalized retail electric sales in the
third
quarter of
2015
compared to the
third
quarter of
2014
;
|
•
|
$0.06 per share of lower energy efficiency cost recovery amortizations at WPL in the
third
quarter of
2015
compared to the
third
quarter of
2014
;
|
•
|
an estimated $0.05 per share of increases in revenues from higher electric sales in the
third
quarter of
2015
compared to the
third
quarter of
2014
due to colder temperatures in the third quarter of 2014; and
|
•
|
$0.04 per share of lower other operation and maintenance expenses.
|
•
|
$0.04 per share of higher electric transmission service expense at WPL in the
third
quarter of
2015
compared to the
third
quarter of
2014
;
|
•
|
$0.04 per share related to the dilution impact of shares issued under the at-the-market offering program and Shareowner Direct Plan in
2015
; and
|
•
|
$0.04 per share related to voluntary employee separation charges in the
third
quarter of
2015
.
|
•
|
March 2015 - The IUB approved IPL’s most recent Emissions Plan and Budget, which includes a scrubber that IPL placed in service at Lansing Unit 4 in June 2015 to reduce SO2 emissions at the EGU.
|
•
|
April 2015 - WPL filed a Certificate of Public Convenience and Necessity application with the PSCW for approval to construct an approximate 650
MW natural gas-fired combined-cycle EGU in Beloit, Wisconsin, referred to as the Riverside expansion. In November 2015, WPL filed testimony with the PSCW that included an updated cost estimate for the Riverside expansion. Capital expenditures, excluding AFUDC, are currently estimated to be approximately $680 million to $720 million to construct the EGU and a pipeline to supply natural gas to the EGU. A decision from the PSCW on WPL’s application is currently expected by May 2016.
|
•
|
April 2015 - IPL completed the sale of its Minnesota natural gas distribution assets and received proceeds of
$11 million
and a promissory note of
$2 million
. The proceeds were used for general corporate purposes.
|
•
|
July 2015 - IPL completed the sale of its Minnesota electric distribution assets and received proceeds of $127 million, which were used to reduce cash proceeds received from IPL’s sales of accounts receivable program.
|
•
|
July 2015 - Alliant Energy announced plans to fuel switch Prairie Creek Unit 4 by December 31, 2017 and the Burlington Generating Station by December 31, 2021, and fuel switch or retire Prairie Creek Units 1 and 3 by December 31, 2025. Alliant Energy also plans to install an SCR system at Ottumwa Unit 1 by December 31, 2019 to reduce NOx emissions at the EGU. IPL’s portion of the capital expenditures, excluding AFUDC, for the SCR system is currently estimated to be between $75 million and $100 million.
|
•
|
July 2015 - WPL filed a request with the PSCW to increase annual rates for WPL’s retail electric customers by $15 million, or approximately 1%, in 2016. The increase reflects anticipated increases in retail electric fuel-rated costs in 2016. Any rate changes granted from this request are expected to be effective on January 1, 2016.
|
•
|
July 2015 - WPL received an order from the PSCW authorizing an annual retail electric rate increase of $28 million, or approximately 3%, effective January 1, 2016 to recover 2014 Test Year deferred fuel-related costs.
|
•
|
April 2015 - The EPA published the final CCR Rule, which regulates CCR as a non-hazardous waste and is effective October 2015. IPL and WPL have nine and three coal-fired EGUs, respectively, with coal ash ponds that are impacted by this rule. In addition, IPL and WPL have four and two active CCR landfills, respectively, that are impacted by this rule. During the nine months ended September 30, 2015, Alliant Energy, IPL and WPL recognized additional AROs of
$74 million
,
$57 million
and
$17 million
, respectively, as a result of the final CCR Rule. Expenditures incurred by IPL and WPL to comply with the CCR Rule are anticipated to be recovered in rates from their customers.
|
•
|
July 2015 - IPL entered into a Consent Decree with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa to resolve potential claims regarding CAA issues associated with emissions from IPL’s coal-fired generating facilities in Iowa, while admitting no liability. In September 2015, the Consent Decree was approved by the U.S. District Court for the Northern District of Iowa thereby resolving all potential claims against IPL.
|
•
|
October 2015 - The EPA published a final revised Ozone NAAQS Rule, which is more stringent than the previous version of the rule and may require NOx emission reductions in certain non-attainment areas designated by the EPA. The EPA’s final designations of non-attainment areas for this revised rule are currently expected to be issued by October 2017. Compliance deadlines range from 2020 through 2037 depending on the level of NOx emissions in non-attainment areas.
|
•
|
October 2015 - The EPA published final standards under Section 111(d) of the CAA, which establish guidelines for states to follow in developing plans to reduce carbon dioxide emissions from existing fossil-fueled EGUs. The final standards include an interim compliance period from 2022 through 2029 and a final compliance requirement beginning in 2030. The EPA also published a proposed federal plan that would be implemented in states that do not complete a fully approved state plan.
|
•
|
October 2015 - The EPA published final standards under Section 111(b) of the CAA, which establish carbon dioxide emissions limits for certain new fossil-fueled EGUs. Marshalltown and WPL’s proposed Riverside expansion are expected to be impacted by these standards.
|
•
|
November 2015 - The EPA published final effluent limitation guidelines, which require changes to discharge limits for wastewater from steam generating facilities. Compliance with the final guidelines will be required after November 1, 2018 but before December 31, 2023, depending on each facility’s wastewater permit renewal cycle for existing steam generating facilities and immediately upon operation for new steam generating facilities constructed after the effective date of the final guidelines.
|
•
|
March 2015 - Alliant Energy filed a prospectus supplement under which it may sell up to
$150 million
of its common stock through an at-the-market offering program. As of
September 30, 2015
, Alliant Energy issued
2,186,617
shares of common stock through this program and received net cash proceeds of
$133 million
. Alliant Energy currently has no plans to issue any additional common stock through the at-the-market offering program.
|
•
|
June 2015 - IPL retired its $150 million, 3.3% senior debentures.
|
•
|
August 2015 - IPL issued
$250 million
of
3.4%
senior debentures due 2025. The proceeds from the issuance were used by IPL to reduce commercial paper classified as long-term debt by
$111 million
, reduce cash proceeds received from its sales of accounts receivable program and for general corporate purposes.
|
•
|
August 2015 - Moody’s Investors Service changed each of Alliant Energy’s, IPL’s and WPL’s outlooks from stable to negative.
|
•
|
September 2015
- At
September 30, 2015
, Alliant Energy and its subsidiaries had
$891 million
of available capacity under the revolving credit facilities,
$179 million
of available capacity at IPL under its sales of accounts receivable program and
$139 million
of cash and cash equivalents.
|
•
|
November 2015 - Alliant Energy, IPL and WPL announced their future financing plans. Alliant Energy currently expects to issue approximately $25 million of common stock in 2016 through its Shareowner Direct Plan. IPL currently expects to issue up to $300 million of long-term debt in 2016. Alliant Energy and Franklin County Holdings LLC currently anticipate refinancing $250 million and $60 million, respectively, of variable-rate term loan credit agreements in 2016.
|
•
|
November 2015 - Alliant Energy announced an increase in its targeted 2016 annual common stock dividend to $2.35 per share, which is equivalent to a quarterly rate of $0.5875 per share, beginning with the February 2016 dividend payment.
|
•
|
March 2015 - FERC issued an order allowing ITC to implement a 50 basis point incentive adder to its return on equity for being an independent transmission company. The implementation of the adder will be retroactively applied back to April 2015 after resolution of a MISO transmission owner return on equity complaint filed in 2013 by a group of MISO industrial customer organizations. Alliant Energy and IPL are currently unable to determine any resulting changes to future electric transmission service charges pending a decision by FERC on the 2013 complaint.
|
EGU (In-Service Year)
|
|
Nameplate Capacity
|
|
Expected Action
|
Prairie Creek Unit 4 (1967)
|
|
149 MW
|
|
Fuel switch by December 31, 2017
|
Burlington Generating Station (1968)
|
|
212 MW
|
|
Fuel switch by December 31, 2021
|
Prairie Creek Units 1 and 3 (1997 and 1958, respectively)
|
|
64 MW
|
|
Fuel switch or retire by December 31, 2025
|
|
|
Actual/Expected
|
|
|
|
Total
|
Generating Unit
|
|
In-service Date
|
|
Technology
|
|
Project Cost
|
IPL:
|
|
|
|
|
|
|
Lansing Unit 4
|
|
2015
|
|
Scrubber
|
|
$55
|
Ottumwa Unit 1
|
|
2018/2019
|
|
SCR
|
|
75-100
|
WPL:
|
|
|
|
|
|
|
Edgewater Unit 5
|
|
2016
|
|
Scrubber & Baghouse
|
|
260-280
|
Columbia Unit 2
|
|
2018
|
|
SCR
|
|
40-60
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential (a)
|
|
$303.2
|
|
|
|
$279.8
|
|
|
8
|
%
|
|
2,047
|
|
|
1,945
|
|
|
5
|
%
|
Commercial (a)
|
200.3
|
|
|
188.9
|
|
|
6
|
%
|
|
1,694
|
|
|
1,643
|
|
|
3
|
%
|
||
Industrial (a)
|
243.9
|
|
|
233.1
|
|
|
5
|
%
|
|
3,091
|
|
|
3,098
|
|
|
—
|
%
|
||
Retail subtotal (a)
|
747.4
|
|
|
701.8
|
|
|
6
|
%
|
|
6,832
|
|
|
6,686
|
|
|
2
|
%
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale (a)
|
66.6
|
|
|
53.5
|
|
|
24
|
%
|
|
1,028
|
|
|
921
|
|
|
12
|
%
|
||
Bulk power and other
|
9.5
|
|
|
2.4
|
|
|
296
|
%
|
|
378
|
|
|
80
|
|
|
373
|
%
|
||
Other
|
12.3
|
|
|
13.5
|
|
|
(9
|
%)
|
|
28
|
|
|
34
|
|
|
(18
|
%)
|
||
Total revenues/sales
|
835.8
|
|
|
771.2
|
|
|
8
|
%
|
|
8,266
|
|
|
7,721
|
|
|
7
|
%
|
||
Electric production fuel expense
|
155.7
|
|
|
119.4
|
|
|
30
|
%
|
|
|
|
|
|
|
|||||
Energy purchases expense
|
89.6
|
|
|
111.3
|
|
|
(19
|
%)
|
|
|
|
|
|
|
|||||
Purchased electric capacity expense
|
0.5
|
|
|
0.1
|
|
|
400
|
%
|
|
|
|
|
|
|
|||||
Electric margins (b)
|
|
$590.0
|
|
|
|
$540.4
|
|
|
9
|
%
|
|
|
|
|
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential (a)
|
|
$173.7
|
|
|
|
$162.9
|
|
|
7
|
%
|
|
1,081
|
|
|
1,055
|
|
|
2
|
%
|
Commercial (a)
|
126.5
|
|
|
119.7
|
|
|
6
|
%
|
|
1,053
|
|
|
1,027
|
|
|
3
|
%
|
||
Industrial (a)
|
138.2
|
|
|
135.9
|
|
|
2
|
%
|
|
1,782
|
|
|
1,846
|
|
|
(3
|
%)
|
||
Retail subtotal (a)
|
438.4
|
|
|
418.5
|
|
|
5
|
%
|
|
3,916
|
|
|
3,928
|
|
|
—
|
%
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale (a)
|
20.4
|
|
|
8.3
|
|
|
146
|
%
|
|
275
|
|
|
124
|
|
|
122
|
%
|
||
Bulk power and other
|
1.1
|
|
|
0.1
|
|
|
1,000
|
%
|
|
28
|
|
|
23
|
|
|
22
|
%
|
||
Other
|
8.7
|
|
|
9.0
|
|
|
(3
|
%)
|
|
14
|
|
|
21
|
|
|
(33
|
%)
|
||
Total revenues/sales
|
468.6
|
|
|
435.9
|
|
|
8
|
%
|
|
4,233
|
|
|
4,096
|
|
|
3
|
%
|
||
Electric production fuel expense
|
72.0
|
|
|
67.7
|
|
|
6
|
%
|
|
|
|
|
|
|
|||||
Energy purchases expense
|
59.3
|
|
|
64.4
|
|
|
(8
|
%)
|
|
|
|
|
|
|
|||||
Purchased electric capacity expense
|
0.1
|
|
|
0.1
|
|
|
—
|
%
|
|
|
|
|
|
|
|||||
Electric margins (b)
|
|
$337.2
|
|
|
|
$303.7
|
|
|
11
|
%
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential
|
|
$129.5
|
|
|
|
$116.9
|
|
|
11
|
%
|
|
966
|
|
|
890
|
|
|
9
|
%
|
Commercial
|
73.8
|
|
|
69.2
|
|
|
7
|
%
|
|
641
|
|
|
616
|
|
|
4
|
%
|
||
Industrial
|
105.7
|
|
|
97.2
|
|
|
9
|
%
|
|
1,309
|
|
|
1,252
|
|
|
5
|
%
|
||
Retail subtotal
|
309.0
|
|
|
283.3
|
|
|
9
|
%
|
|
2,916
|
|
|
2,758
|
|
|
6
|
%
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale
|
46.2
|
|
|
45.2
|
|
|
2
|
%
|
|
753
|
|
|
797
|
|
|
(6
|
%)
|
||
Bulk power and other
|
8.4
|
|
|
2.3
|
|
|
265
|
%
|
|
350
|
|
|
57
|
|
|
514
|
%
|
||
Other
|
3.6
|
|
|
4.5
|
|
|
(20
|
%)
|
|
14
|
|
|
13
|
|
|
8
|
%
|
||
Total revenues/sales
|
367.2
|
|
|
335.3
|
|
|
10
|
%
|
|
4,033
|
|
|
3,625
|
|
|
11
|
%
|
||
Electric production fuel expense
|
83.7
|
|
|
51.7
|
|
|
62
|
%
|
|
|
|
|
|
|
|||||
Energy purchases expense
|
30.3
|
|
|
46.9
|
|
|
(35
|
%)
|
|
|
|
|
|
|
|||||
Purchased electric capacity expense
|
0.4
|
|
|
—
|
|
|
100
|
%
|
|
|
|
|
|
|
|||||
Electric margins
|
|
$252.8
|
|
|
|
$236.7
|
|
|
7
|
%
|
|
|
|
|
|
|
(a)
|
In July 2015, IPL sold its electric distribution assets in Minnesota. Prior to the asset sale, the electric sales to retail customers are included in residential, commercial and industrial sales. Subsequent to the asset sale, the related electric sales are included in wholesale electric sales pursuant to the wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative.
|
(b)
|
Includes $20 million and $22 million of credits on IPL’s Iowa retail electric customers’ bills for the
third
quarters of
2015
and
2014
, respectively, resulting from the electric tax benefit rider. The electric tax benefit rider results in reductions in electric revenues that are offset by reductions in income tax expense for the years ended December 31,
2015
and
2014
.
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential (a)
|
|
$775.7
|
|
|
|
$769.5
|
|
|
1
|
%
|
|
5,679
|
|
|
5,830
|
|
|
(3
|
%)
|
Commercial (a)
|
512.9
|
|
|
505.9
|
|
|
1
|
%
|
|
4,816
|
|
|
4,820
|
|
|
—
|
%
|
||
Industrial (a)
|
634.3
|
|
|
618.7
|
|
|
3
|
%
|
|
8,917
|
|
|
8,880
|
|
|
—
|
%
|
||
Retail subtotal (a)
|
1,922.9
|
|
|
1,894.1
|
|
|
2
|
%
|
|
19,412
|
|
|
19,530
|
|
|
(1
|
%)
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale (a)
|
165.5
|
|
|
158.5
|
|
|
4
|
%
|
|
2,663
|
|
|
2,709
|
|
|
(2
|
%)
|
||
Bulk power and other
|
24.2
|
|
|
0.6
|
|
|
3,933
|
%
|
|
1,051
|
|
|
276
|
|
|
281
|
%
|
||
Other
|
34.9
|
|
|
37.7
|
|
|
(7
|
%)
|
|
102
|
|
|
112
|
|
|
(9
|
%)
|
||
Total revenues/sales
|
2,147.5
|
|
|
2,090.9
|
|
|
3
|
%
|
|
23,228
|
|
|
22,627
|
|
|
3
|
%
|
||
Electric production fuel expense
|
376.3
|
|
|
349.2
|
|
|
8
|
%
|
|
|
|
|
|
|
|||||
Energy purchases expense
|
269.4
|
|
|
309.5
|
|
|
(13
|
%)
|
|
|
|
|
|
|
|||||
Purchased electric capacity expense
|
1.2
|
|
|
24.9
|
|
|
(95
|
%)
|
|
|
|
|
|
|
|||||
Electric margins (b)
|
|
$1,500.6
|
|
|
|
$1,407.3
|
|
|
7
|
%
|
|
|
|
|
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential (a)
|
|
$434.8
|
|
|
|
$436.2
|
|
|
—
|
%
|
|
3,055
|
|
|
3,165
|
|
|
(3
|
%)
|
Commercial (a)
|
318.9
|
|
|
317.0
|
|
|
1
|
%
|
|
3,043
|
|
|
3,039
|
|
|
—
|
%
|
||
Industrial (a)
|
353.1
|
|
|
360.0
|
|
|
(2
|
%)
|
|
5,291
|
|
|
5,350
|
|
|
(1
|
%)
|
||
Retail subtotal (a)
|
1,106.8
|
|
|
1,113.2
|
|
|
(1
|
%)
|
|
11,389
|
|
|
11,554
|
|
|
(1
|
%)
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale (a)
|
35.6
|
|
|
24.7
|
|
|
44
|
%
|
|
509
|
|
|
365
|
|
|
39
|
%
|
||
Bulk power and other
|
4.0
|
|
|
1.1
|
|
|
264
|
%
|
|
163
|
|
|
37
|
|
|
341
|
%
|
||
Other
|
24.2
|
|
|
25.7
|
|
|
(6
|
%)
|
|
54
|
|
|
62
|
|
|
(13
|
%)
|
||
Total revenues/sales
|
1,170.6
|
|
|
1,164.7
|
|
|
1
|
%
|
|
12,115
|
|
|
12,018
|
|
|
1
|
%
|
||
Electric production fuel expense
|
162.6
|
|
|
181.3
|
|
|
(10
|
%)
|
|
|
|
|
|
|
|||||
Energy purchases expense
|
169.2
|
|
|
188.9
|
|
|
(10
|
%)
|
|
|
|
|
|
|
|||||
Purchased electric capacity expense
|
0.2
|
|
|
24.9
|
|
|
(99
|
%)
|
|
|
|
|
|
|
|||||
Electric margins (b)
|
|
$838.6
|
|
|
|
$769.6
|
|
|
9
|
%
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential
|
|
$340.9
|
|
|
|
$333.3
|
|
|
2
|
%
|
|
2,624
|
|
|
2,665
|
|
|
(2
|
%)
|
Commercial
|
194.0
|
|
|
188.9
|
|
|
3
|
%
|
|
1,773
|
|
|
1,781
|
|
|
—
|
%
|
||
Industrial
|
281.2
|
|
|
258.7
|
|
|
9
|
%
|
|
3,626
|
|
|
3,530
|
|
|
3
|
%
|
||
Retail subtotal
|
816.1
|
|
|
780.9
|
|
|
5
|
%
|
|
8,023
|
|
|
7,976
|
|
|
1
|
%
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale
|
129.9
|
|
|
133.8
|
|
|
(3
|
%)
|
|
2,154
|
|
|
2,344
|
|
|
(8
|
%)
|
||
Bulk power and other
|
20.2
|
|
|
(0.5
|
)
|
|
4,140
|
%
|
|
888
|
|
|
239
|
|
|
272
|
%
|
||
Other
|
10.7
|
|
|
12.0
|
|
|
(11
|
%)
|
|
48
|
|
|
50
|
|
|
(4
|
%)
|
||
Total revenues/sales
|
976.9
|
|
|
926.2
|
|
|
5
|
%
|
|
11,113
|
|
|
10,609
|
|
|
5
|
%
|
||
Electric production fuel expense
|
213.7
|
|
|
167.9
|
|
|
27
|
%
|
|
|
|
|
|
|
|||||
Energy purchases expense
|
100.2
|
|
|
120.6
|
|
|
(17
|
%)
|
|
|
|
|
|
|
|||||
Purchased electric capacity expense
|
1.0
|
|
|
—
|
|
|
100
|
%
|
|
|
|
|
|
|
|||||
Electric margins
|
|
$662.0
|
|
|
|
$637.7
|
|
|
4
|
%
|
|
|
|
|
|
|
(a)
|
In July 2015, IPL sold its electric distribution assets in Minnesota. Prior to the asset sale, the electric sales to retail customers are included in residential, commercial and industrial sales. Subsequent to the asset sale, the related electric sales are included in wholesale electric sales pursuant to the wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative.
|
(b)
|
Includes $55 million and $64 million of credits on Iowa retail electric customers’ bills for the
nine months ended September 30
,
2015
and
2014
, respectively, resulting from IPL’s electric tax benefit rider. The electric tax benefit rider results in reductions in electric revenues that are offset by reductions in income tax expense for the years ended December 31,
2015
and
2014
.
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Retail electric customer billing credits at IPL (a)
|
|
$19
|
|
|
|
$19
|
|
|
|
$—
|
|
|
|
$27
|
|
|
|
$27
|
|
|
|
$—
|
|
Purchased electric capacity expense at IPL in 2014 (b)
|
—
|
|
|
—
|
|
|
—
|
|
|
25
|
|
|
25
|
|
|
—
|
|
||||||
Changes in electric fuel-related costs, net of recoveries at WPL
|
2
|
|
|
—
|
|
|
2
|
|
|
12
|
|
|
—
|
|
|
12
|
|
||||||
Higher revenues at IPL due to changes in credits on Iowa retail electric customers’ bills resulting from the electric tax benefit rider (Refer to
Note 2
for further details)
|
2
|
|
|
2
|
|
|
—
|
|
|
9
|
|
|
9
|
|
|
—
|
|
||||||
Higher revenues at WPL from the impact of increased sales volumes approved in its retail electric base rate case for 2015 (c)
|
2
|
|
|
—
|
|
|
2
|
|
|
6
|
|
|
—
|
|
|
6
|
|
||||||
Higher revenues at IPL related to changes in recovery amounts for transmission costs through the transmission rider (d)
|
4
|
|
|
4
|
|
|
—
|
|
|
5
|
|
|
5
|
|
|
—
|
|
||||||
Estimated changes in sales caused by temperatures
|
10
|
|
|
5
|
|
|
5
|
|
|
(7
|
)
|
|
(4
|
)
|
|
(3
|
)
|
||||||
Other (e)
|
11
|
|
|
4
|
|
|
7
|
|
|
16
|
|
|
7
|
|
|
9
|
|
||||||
|
|
$50
|
|
|
|
$34
|
|
|
|
$16
|
|
|
|
$93
|
|
|
|
$69
|
|
|
|
$24
|
|
(a)
|
Refer to
Note 2
for further discussion of billing credits that began in May 2014 related to the approved settlement agreement for IPL’s Iowa retail electric rates.
|
(b)
|
IPL’s previous DAEC PPA that expired in February 2014 included minimum payments for IPL’s rights to electric generating capacity. IPL’s new DAEC PPA effective February 2014 does not contain minimum payments for electric generating capacity.
|
(c)
|
The PSCW order received for WPL’s retail fuel-related rate filing (2015 Test Year) contained an increase in retail electric fuel-related revenues in 2015. A portion of the approved increase was attributable to the impact of increased sales volumes approved in WPL’s retail electric base rate case for 2015 resulting in higher electric margin in 2015.
|
(d)
|
Higher transmission rider revenues were offset by higher electric transmission service expense.
|
(e)
|
Includes increases in temperature-normalized retail sales volumes at IPL and WPL for the three- and nine-month periods. Refer to “Sales Trends” below for further details.
|
|
Three Months
|
|
Nine Months
|
||||||||||||||
|
Actual
|
|
|
|
Actual
|
|
|
||||||||||
|
2015
|
|
2014
|
|
Normal
|
|
2015
|
|
2014
|
|
Normal
|
||||||
HDD (a):
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Cedar Rapids, Iowa (IPL)
|
83
|
|
|
160
|
|
|
140
|
|
|
4,355
|
|
|
5,063
|
|
|
4,258
|
|
Madison, Wisconsin (WPL)
|
98
|
|
|
183
|
|
|
173
|
|
|
4,653
|
|
|
5,255
|
|
|
4,512
|
|
CDD (a):
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Cedar Rapids, Iowa (IPL)
|
530
|
|
|
407
|
|
|
535
|
|
|
730
|
|
|
670
|
|
|
756
|
|
Madison, Wisconsin (WPL)
|
503
|
|
|
387
|
|
|
474
|
|
|
664
|
|
|
620
|
|
|
656
|
|
(a)
|
HDD and CDD are calculated using a simple average of the high and low temperatures each day compared to a 65 degree base. Normal degree days are calculated using a rolling 20-year average of historical HDD and CDD.
|
|
2015
|
|
2014
|
|
Resulting Impact in 2015 Compared to 2014
|
First quarter (HDD)
|
10% colder than normal
|
|
20%-25% colder than normal
|
|
Decrease in IPL’s and WPL’s electric and gas sales due to lower demand by customers for heating
|
Second quarter (CDD)
|
10% colder than normal
|
|
20%-30% warmer than normal
|
|
Decrease in IPL’s and WPL’s electric sales due to lower demand by customers for air cooling
|
Third quarter (CDD)
|
Normal
|
|
20% colder than normal
|
|
Increase in IPL’s and WPL’s electric sales due to higher demand by customers for air cooling
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||||||
IPL
|
|
($2
|
)
|
|
|
($7
|
)
|
|
|
$5
|
|
|
|
($2
|
)
|
|
|
$2
|
|
|
|
($4
|
)
|
WPL
|
1
|
|
|
(4
|
)
|
|
5
|
|
|
2
|
|
|
5
|
|
|
(3
|
)
|
||||||
Total Alliant Energy
|
|
($1
|
)
|
|
|
($11
|
)
|
|
|
$10
|
|
|
|
$—
|
|
|
|
$7
|
|
|
|
($7
|
)
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential
|
|
$17.6
|
|
|
|
$21.7
|
|
|
(19
|
%)
|
|
1,204
|
|
|
1,452
|
|
|
(17
|
%)
|
Commercial
|
11.0
|
|
|
15.0
|
|
|
(27
|
%)
|
|
1,616
|
|
|
1,746
|
|
|
(7
|
%)
|
||
Industrial
|
2.4
|
|
|
3.9
|
|
|
(38
|
%)
|
|
541
|
|
|
620
|
|
|
(13
|
%)
|
||
Retail subtotal
|
31.0
|
|
|
40.6
|
|
|
(24
|
%)
|
|
3,361
|
|
|
3,818
|
|
|
(12
|
%)
|
||
Transportation/other
|
7.0
|
|
|
6.6
|
|
|
6
|
%
|
|
18,772
|
|
|
14,910
|
|
|
26
|
%
|
||
Total revenues/sales
|
38.0
|
|
|
47.2
|
|
|
(19
|
%)
|
|
22,133
|
|
|
18,728
|
|
|
18
|
%
|
||
Cost of gas sold
|
13.6
|
|
|
21.8
|
|
|
(38
|
%)
|
|
|
|
|
|
|
|||||
Gas margins (a)
|
|
$24.4
|
|
|
|
$25.4
|
|
|
(4
|
%)
|
|
|
|
|
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential
|
|
$10.3
|
|
|
|
$12.8
|
|
|
(20
|
%)
|
|
638
|
|
|
824
|
|
|
(23
|
%)
|
Commercial
|
6.8
|
|
|
8.9
|
|
|
(24
|
%)
|
|
854
|
|
|
952
|
|
|
(10
|
%)
|
||
Industrial
|
2.0
|
|
|
3.3
|
|
|
(39
|
%)
|
|
442
|
|
|
518
|
|
|
(15
|
%)
|
||
Retail subtotal
|
19.1
|
|
|
25.0
|
|
|
(24
|
%)
|
|
1,934
|
|
|
2,294
|
|
|
(16
|
%)
|
||
Transportation/other
|
4.0
|
|
|
3.7
|
|
|
8
|
%
|
|
7,819
|
|
|
7,062
|
|
|
11
|
%
|
||
Total revenues/sales
|
23.1
|
|
|
28.7
|
|
|
(20
|
%)
|
|
9,753
|
|
|
9,356
|
|
|
4
|
%
|
||
Cost of gas sold
|
9.4
|
|
|
14.6
|
|
|
(36
|
%)
|
|
|
|
|
|
|
|||||
Gas margins (a)
|
|
$13.7
|
|
|
|
$14.1
|
|
|
(3
|
%)
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential
|
|
$7.3
|
|
|
|
$8.9
|
|
|
(18
|
%)
|
|
566
|
|
|
628
|
|
|
(10
|
%)
|
Commercial
|
4.2
|
|
|
6.1
|
|
|
(31
|
%)
|
|
762
|
|
|
794
|
|
|
(4
|
%)
|
||
Industrial
|
0.4
|
|
|
0.6
|
|
|
(33
|
%)
|
|
99
|
|
|
102
|
|
|
(3
|
%)
|
||
Retail subtotal
|
11.9
|
|
|
15.6
|
|
|
(24
|
%)
|
|
1,427
|
|
|
1,524
|
|
|
(6
|
%)
|
||
Transportation/other
|
3.0
|
|
|
2.9
|
|
|
3
|
%
|
|
10,953
|
|
|
7,848
|
|
|
40
|
%
|
||
Total revenues/sales
|
14.9
|
|
|
18.5
|
|
|
(19
|
%)
|
|
12,380
|
|
|
9,372
|
|
|
32
|
%
|
||
Cost of gas sold
|
4.2
|
|
|
7.2
|
|
|
(42
|
%)
|
|
|
|
|
|
|
|||||
Gas margins
|
|
$10.7
|
|
|
|
$11.3
|
|
|
(5
|
%)
|
|
|
|
|
|
|
(a)
|
Includes $3 million of credits on IPL’s Iowa retail gas customers’ bills for both the
third
quarters of
2015
and
2014
resulting from the gas tax benefit rider. The gas tax benefit rider results in reductions in gas revenues that are offset by reductions in income tax expense for the years ended December 31,
2015
and
2014
.
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential
|
|
$162.1
|
|
|
|
$206.7
|
|
|
(22
|
%)
|
|
19,475
|
|
|
22,347
|
|
|
(13
|
%)
|
Commercial
|
91.3
|
|
|
117.8
|
|
|
(22
|
%)
|
|
13,879
|
|
|
15,458
|
|
|
(10
|
%)
|
||
Industrial
|
10.4
|
|
|
15.5
|
|
|
(33
|
%)
|
|
2,092
|
|
|
2,377
|
|
|
(12
|
%)
|
||
Retail subtotal
|
263.8
|
|
|
340.0
|
|
|
(22
|
%)
|
|
35,446
|
|
|
40,182
|
|
|
(12
|
%)
|
||
Transportation/other
|
24.3
|
|
|
24.8
|
|
|
(2
|
%)
|
|
57,213
|
|
|
46,521
|
|
|
23
|
%
|
||
Total revenues/sales
|
288.1
|
|
|
364.8
|
|
|
(21
|
%)
|
|
92,659
|
|
|
86,703
|
|
|
7
|
%
|
||
Cost of gas sold
|
166.3
|
|
|
228.7
|
|
|
(27
|
%)
|
|
|
|
|
|
|
|||||
Gas margins (a)
|
|
$121.8
|
|
|
|
$136.1
|
|
|
(11
|
%)
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||
Residential
|
|
$71.2
|
|
|
|
$89.7
|
|
|
(21
|
%)
|
|
8,766
|
|
|
9,772
|
|
|
(10
|
%)
|
Commercial
|
40.6
|
|
|
53.1
|
|
|
(24
|
%)
|
|
6,544
|
|
|
7,169
|
|
|
(9
|
%)
|
||
Industrial
|
2.8
|
|
|
4.3
|
|
|
(35
|
%)
|
|
530
|
|
|
633
|
|
|
(16
|
%)
|
||
Retail subtotal
|
114.6
|
|
|
147.1
|
|
|
(22
|
%)
|
|
15,840
|
|
|
17,574
|
|
|
(10
|
%)
|
||
Transportation/other
|
9.4
|
|
|
9.6
|
|
|
(2
|
%)
|
|
31,251
|
|
|
23,663
|
|
|
32
|
%
|
||
Total revenues/sales
|
124.0
|
|
|
156.7
|
|
|
(21
|
%)
|
|
47,091
|
|
|
41,237
|
|
|
14
|
%
|
||
Cost of gas sold
|
72.9
|
|
|
100.3
|
|
|
(27
|
%)
|
|
|
|
|
|
|
|||||
Gas margins
|
|
$51.1
|
|
|
|
$56.4
|
|
|
(9
|
%)
|
|
|
|
|
|
|
(a)
|
Includes $9 million of credits on IPL’s Iowa retail gas customers’ bills for both the
nine months ended September 30
,
2015
and
2014
resulting from the gas tax benefit rider. The gas tax benefit rider results in reductions in gas revenues that are offset by reductions in income tax expense for the years ended December 31,
2015
and
2014
.
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Estimated decrease from changes in sales caused by temperatures
|
|
($1
|
)
|
|
|
$—
|
|
|
|
($1
|
)
|
|
|
($7
|
)
|
|
|
($3
|
)
|
|
|
($4
|
)
|
Lower revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (a)
|
—
|
|
|
—
|
|
|
—
|
|
|
(6
|
)
|
|
(6
|
)
|
|
—
|
|
||||||
Lower revenues at WPL due to the impact of changes in retail gas base rates effective January 2015
|
—
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
||||||
Other
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
2
|
|
||||||
|
|
($1
|
)
|
|
|
$—
|
|
|
|
($1
|
)
|
|
|
($14
|
)
|
|
|
($9
|
)
|
|
|
($5
|
)
|
(a)
|
Changes in energy efficiency revenues were mostly offset by changes in energy efficiency expense included in other operation and maintenance expenses.
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
||||||||||||
IPL
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$1
|
|
|
|
$4
|
|
|
|
($3
|
)
|
WPL
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
4
|
|
|
(4
|
)
|
||||||
Total Alliant Energy
|
|
($1
|
)
|
|
|
$—
|
|
|
|
($1
|
)
|
|
|
$1
|
|
|
|
$8
|
|
|
|
($7
|
)
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Lower margins from IPL’s sharing mechanism related to optimizing gas capacity contracts (a)
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
($4
|
)
|
|
|
($4
|
)
|
|
|
$—
|
|
Other
|
1
|
|
|
1
|
|
|
—
|
|
|
(2
|
)
|
|
1
|
|
|
(3
|
)
|
||||||
|
|
$1
|
|
|
|
$1
|
|
|
|
$—
|
|
|
|
($6
|
)
|
|
|
($3
|
)
|
|
|
($3
|
)
|
(a)
|
Approximately 50% of all margins earned from IPL’s sharing mechanism relating to optimizing gas capacity contracts flow through the purchased gas adjustment clause to reduce retail gas customer bills in Iowa. The remaining margins are retained by IPL and recorded in utility other revenues. Due to the extreme cold temperatures causing natural gas price fluctuations in the first quarter of 2014, margins were higher than normal for the
nine months ended September 30
, 2014.
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Higher electric transmission service costs billed from ITC, ATC and MISO (a)
|
|
$9
|
|
|
|
$6
|
|
|
|
$3
|
|
|
|
$19
|
|
|
|
$10
|
|
|
|
$9
|
|
Escrow treatment for the difference between actual electric transmission service costs and those costs used to determine rates during 2015 at WPL (Refer to
Note 2
for further details)
|
4
|
|
|
—
|
|
|
4
|
|
|
16
|
|
|
—
|
|
|
16
|
|
||||||
Other
|
1
|
|
|
(1
|
)
|
|
2
|
|
|
(1
|
)
|
|
(2
|
)
|
|
2
|
|
||||||
|
|
$14
|
|
|
|
$5
|
|
|
|
$9
|
|
|
|
$34
|
|
|
|
$8
|
|
|
|
$27
|
|
(a)
|
Primarily due to increased electric transmission service rates.
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Lower energy efficiency cost recovery amortizations at WPL (a)
|
|
($10
|
)
|
|
|
$—
|
|
|
|
($10
|
)
|
|
|
($29
|
)
|
|
|
$—
|
|
|
|
($29
|
)
|
Lower generation expense (b)
|
(5
|
)
|
|
(1
|
)
|
|
(4
|
)
|
|
(9
|
)
|
|
(5
|
)
|
|
(4
|
)
|
||||||
Changes in energy efficiency expense at IPL (c)
|
1
|
|
|
1
|
|
|
—
|
|
|
(3
|
)
|
|
(3
|
)
|
|
—
|
|
||||||
Losses on sales of IPL’s Minnesota distribution assets recorded in the second quarter of 2015 (Refer to
Note 3
for further details)
|
—
|
|
|
—
|
|
|
—
|
|
|
12
|
|
|
12
|
|
|
—
|
|
||||||
Higher employee benefits-related expense (d)
|
3
|
|
|
2
|
|
|
1
|
|
|
9
|
|
|
5
|
|
|
4
|
|
||||||
Voluntary employee separation charges (e)
|
8
|
|
|
5
|
|
|
3
|
|
|
8
|
|
|
5
|
|
|
3
|
|
||||||
Other (includes lower costs due to cost controls and operational efficiencies)
|
(5
|
)
|
|
(2
|
)
|
|
—
|
|
|
(16
|
)
|
|
(6
|
)
|
|
(6
|
)
|
||||||
|
|
($8
|
)
|
|
|
$5
|
|
|
|
($10
|
)
|
|
|
($28
|
)
|
|
|
$8
|
|
|
|
($32
|
)
|
(a)
|
The July 2014 PSCW order for WPL’s 2015/2016 Test Period electric and gas base rate case authorized lower energy efficiency cost recovery amortizations for 2015.
|
(b)
|
Primarily resulting from the timing of maintenance projects at IPL’s and WPL’s EGUs.
|
(c)
|
Changes in IPL’s energy efficiency expense were offset by changes in electric and gas energy efficiency revenues.
|
(d)
|
Primarily due to an increase in retirement plans costs and other employee benefits-related costs. The increased retirement plan costs were largely due to decreases in discount rates and a change to the life expectancy assumption in 2014.
|
(e)
|
In the third quarter of 2015, Alliant Energy offered certain employees voluntary separation agreements of which approximately 2% of total Alliant Energy employees accepted.
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Higher depreciation expense for IPL’s Ottumwa Unit 1 scrubber and baghouse completed in 2014
|
|
$1
|
|
|
|
$1
|
|
|
|
$—
|
|
|
|
$4
|
|
|
|
$4
|
|
|
|
$—
|
|
Higher depreciation expense for WPL’s Columbia Units 1 and 2 scrubbers and baghouses completed in 2014
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
2
|
|
||||||
Other
|
1
|
|
|
1
|
|
|
—
|
|
|
6
|
|
|
4
|
|
|
1
|
|
||||||
|
|
$2
|
|
|
|
$2
|
|
|
|
$—
|
|
|
|
$12
|
|
|
|
$8
|
|
|
|
$3
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Higher interest expense from the issuance of WPL’s $250 million, 4.1% debentures in October 2014
|
|
$3
|
|
|
|
$—
|
|
|
|
$3
|
|
|
|
$8
|
|
|
|
$—
|
|
|
|
$8
|
|
Higher interest expense from the issuance of IPL’s $250 million, 3.25% senior debentures in November 2014
|
2
|
|
|
2
|
|
|
—
|
|
|
6
|
|
|
6
|
|
|
—
|
|
||||||
Lower interest expense from the retirement of Alliant Energy’s $250 million, 4% senior notes in October 2014
|
(3
|
)
|
|
—
|
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
—
|
|
||||||
Other
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
(1
|
)
|
|
(1
|
)
|
|
(2
|
)
|
||||||
|
|
$2
|
|
|
|
$2
|
|
|
|
$2
|
|
|
|
$5
|
|
|
|
$5
|
|
|
|
$6
|
|
|
Alliant Energy
(Consolidated)
|
|
IPL
|
|
WPL
|
|||||||||||||||
Common equity
|
|
$3,745.2
|
|
|
47
|
%
|
|
|
$1,991.0
|
|
|
49
|
%
|
|
|
$1,759.6
|
|
|
53
|
%
|
Preferred stock
|
200.0
|
|
|
3
|
%
|
|
200.0
|
|
|
5
|
%
|
|
—
|
|
|
—
|
%
|
|||
Noncontrolling interest
|
0.9
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
10.9
|
|
|
—
|
%
|
|||
Long-term debt (incl. current maturities)
|
3,858.8
|
|
|
49
|
%
|
|
1,868.5
|
|
|
46
|
%
|
|
1,543.6
|
|
|
47
|
%
|
|||
Short-term debt
|
109.1
|
|
|
1
|
%
|
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|||
|
|
$7,914.0
|
|
|
100
|
%
|
|
|
$4,059.5
|
|
|
100
|
%
|
|
|
$3,314.1
|
|
|
100
|
%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||
Cash and cash equivalents, January 1
|
|
$56.9
|
|
|
|
$9.8
|
|
|
|
$5.3
|
|
|
|
$4.4
|
|
|
|
$46.7
|
|
|
|
$0.5
|
|
Cash flows from (used for):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating activities
|
695.3
|
|
|
763.9
|
|
|
318.0
|
|
|
373.6
|
|
|
375.9
|
|
|
365.8
|
|
||||||
Investing activities
|
(613.0
|
)
|
|
(640.4
|
)
|
|
(319.4
|
)
|
|
(376.5
|
)
|
|
(259.6
|
)
|
|
(233.8
|
)
|
||||||
Financing activities
|
—
|
|
|
(122.3
|
)
|
|
95.5
|
|
|
3.1
|
|
|
(127.3
|
)
|
|
(130.2
|
)
|
||||||
Net increase (decrease)
|
82.3
|
|
|
1.2
|
|
|
94.1
|
|
|
0.2
|
|
|
(11.0
|
)
|
|
1.8
|
|
||||||
Cash and cash equivalents, September 30
|
|
$139.2
|
|
|
|
$11.0
|
|
|
|
$99.4
|
|
|
|
$4.6
|
|
|
|
$35.7
|
|
|
|
$2.3
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Changes in the level of IPL’s accounts receivable sold (Refer to
Note 4(a)
for details)
|
|
($30
|
)
|
|
|
($30
|
)
|
|
|
$—
|
|
Final receipt related to Alliant Energy’s tax separation and indemnification agreement with Whiting Petroleum in 2014 (Refer to
Note 4(b)
for details)
|
(26
|
)
|
|
—
|
|
|
—
|
|
|||
Changes in IPL’s retail electric customer billing credits
|
27
|
|
|
27
|
|
|
—
|
|
|||
Other (a)
|
(40
|
)
|
|
(53
|
)
|
|
10
|
|
|||
|
|
($69
|
)
|
|
|
($56
|
)
|
|
|
$10
|
|
(a)
|
Includes other changes in working capital largely related to changes in inventory levels and the timing of fuel-related cost recoveries from customers.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Proceeds from IPL’s Minnesota distribution asset sales in 2015
|
|
$138
|
|
|
|
$138
|
|
|
|
$—
|
|
Higher utility construction expenditures, including Marshalltown expenditures for Alliant Energy and IPL
|
(92
|
)
|
|
(74
|
)
|
|
(17
|
)
|
|||
Other
|
(19
|
)
|
|
(7
|
)
|
|
(9
|
)
|
|||
|
|
$27
|
|
|
|
$57
|
|
|
|
($26
|
)
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||||||||||||||
|
2015
|
2016
|
2017
|
2018
|
2019
|
|
2015
|
2016
|
2017
|
2018
|
2019
|
|
2015
|
2016
|
2017
|
2018
|
2019
|
||||||||||||||||||||||||||||||
Generation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||
Marshalltown
|
|
$280
|
|
|
$190
|
|
|
$10
|
|
|
$—
|
|
|
$—
|
|
|
|
$280
|
|
|
$190
|
|
|
$10
|
|
|
$—
|
|
|
$—
|
|
|
|
$—
|
|
|
$—
|
|
|
$—
|
|
|
$—
|
|
|
$—
|
|
Proposed Riverside expansion
|
10
|
|
100
|
|
325
|
|
240
|
|
30
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
10
|
|
100
|
|
325
|
|
240
|
|
30
|
|
|||||||||||||||
Environmental compliance
|
145
|
|
100
|
|
70
|
|
60
|
|
25
|
|
|
30
|
|
25
|
|
40
|
|
50
|
|
10
|
|
|
115
|
|
75
|
|
30
|
|
10
|
|
15
|
|
|||||||||||||||
Other
|
120
|
|
175
|
|
170
|
|
135
|
|
140
|
|
|
55
|
|
80
|
|
75
|
|
60
|
|
60
|
|
|
65
|
|
95
|
|
95
|
|
75
|
|
80
|
|
|||||||||||||||
Distribution:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||
Electric systems
|
280
|
|
280
|
|
355
|
|
430
|
|
470
|
|
|
175
|
|
150
|
|
220
|
|
230
|
|
225
|
|
|
105
|
|
130
|
|
135
|
|
200
|
|
245
|
|
|||||||||||||||
Gas systems
|
95
|
|
200
|
|
150
|
|
210
|
|
165
|
|
|
45
|
|
155
|
|
90
|
|
115
|
|
95
|
|
|
50
|
|
45
|
|
60
|
|
95
|
|
70
|
|
|||||||||||||||
Other
|
120
|
|
90
|
|
170
|
|
175
|
|
260
|
|
|
30
|
|
25
|
|
35
|
|
40
|
|
80
|
|
|
20
|
|
35
|
|
35
|
|
20
|
|
15
|
|
|||||||||||||||
|
|
$1,050
|
|
|
$1,135
|
|
|
$1,250
|
|
|
$1,250
|
|
|
$1,090
|
|
|
|
$615
|
|
|
$625
|
|
|
$470
|
|
|
$495
|
|
|
$470
|
|
|
|
$365
|
|
|
$480
|
|
|
$680
|
|
|
$640
|
|
|
$455
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Proceeds from the issuance of IPL’s 3.4% senior debentures in August 2015
|
|
$250
|
|
|
|
$250
|
|
|
|
$—
|
|
Net proceeds from common stock issuances in 2015
|
145
|
|
|
—
|
|
|
—
|
|
|||
Payments to retire IPL’s 5% pollution control revenue bonds in July 2014
|
38
|
|
|
38
|
|
|
—
|
|
|||
Payments to retire IPL’s 3.3% senior debentures in June 2015
|
(150
|
)
|
|
(150
|
)
|
|
—
|
|
|||
Net changes in the amount of commercial paper outstanding
|
(107
|
)
|
|
(38
|
)
|
|
37
|
|
|||
Payments to retire WPL’s pollution control revenue bonds in the third quarter of 2015
|
(31
|
)
|
|
—
|
|
|
(31
|
)
|
|||
Other
|
(23
|
)
|
|
(8
|
)
|
|
(3
|
)
|
|||
|
|
$122
|
|
|
|
$92
|
|
|
|
$3
|
|
•
|
Long-term Debt - IPL currently expects to issue up to $300 million of additional long-term debt in 2016. In addition, Alliant Energy and Franklin County Holdings LLC currently anticipate refinancing $250 million and $60 million, respectively, of variable-rate term loan credit agreements in 2016.
|
•
|
Common Stock Issuances and Capital Contributions - Alliant Energy currently expects to issue approximately $25 million of common stock in 2016 through its Shareowner Direct Plan. IPL and WPL currently expect to receive capital contributions of approximately $165 million and $25 million, respectively, from their parent company in 2016.
|
•
|
Common Stock Dividends - In November 2015, Alliant Energy announced an increase in its targeted 2016 annual common stock dividend to $2.35 per share, which is equivalent to a quarterly rate of $0.5875 per share, beginning with the February 2016 dividend payment. The timing and amount of future dividends is subject to an approved dividend declaration from its Board of Directors, and is dependent upon earnings expectations, capital requirements, and general financial business conditions, among other factors. In addition, IPL and WPL currently expect to pay common stock dividends of approximately $150 million and $135 million, respectively, to their parent company in 2016.
|
|
|
Total Number
|
|
Average Price
|
|
Total Number of Shares
|
|
Maximum Number (or Approximate
|
|||
|
|
of Shares
|
|
Paid Per
|
|
Purchased as Part of
|
|
Dollar Value) of Shares That May Yet
|
|||
Period
|
|
Purchased (a)
|
|
Share
|
|
Publicly Announced Plan
|
|
Be Purchased Under the Plan (a)
|
|||
July 1 through July 31
|
|
2,553
|
|
|
|
$59.61
|
|
|
—
|
|
N/A
|
August 1 through August 31
|
|
1,901
|
|
|
61.70
|
|
|
—
|
|
N/A
|
|
September 1 through September 30
|
|
42
|
|
|
56.58
|
|
|
—
|
|
N/A
|
|
|
|
4,496
|
|
|
60.46
|
|
|
—
|
|
|
(a)
|
All shares were purchased on the open market and held in a rabbi trust under the Alliant Energy Deferred Compensation Plan. There is no limit on the number of shares of Alliant Energy common stock that may be held under the Deferred Compensation Plan, which currently does not have an expiration date.
|
ALLIANT ENERGY CORPORATION
|
|
Registrant
|
|
|
|
By: /s/ Robert J. Durian
|
Vice President, Chief Accounting Officer and Controller
|
Robert J. Durian
|
(Principal Accounting Officer and Authorized Signatory)
|
INTERSTATE POWER AND LIGHT COMPANY
|
|
Registrant
|
|
|
|
By: /s/ Robert J. Durian
|
Vice President, Chief Accounting Officer and Controller
|
Robert J. Durian
|
(Principal Accounting Officer and Authorized Signatory)
|
WISCONSIN POWER AND LIGHT COMPANY
|
|
Registrant
|
|
|
|
By: /s/ Robert J. Durian
|
Vice President, Chief Accounting Officer and Controller
|
Robert J. Durian
|
(Principal Accounting Officer and Authorized Signatory)
|
|
ALLIANT ENERGY CORPORATION
|
|
|
By:
|
|
Title:
|
|
|
|
|
EMPLOYEE
|
|
|
By:
|
|
Address:
|
|
|
|
|
Nine Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
September 30,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2015
|
|
2014
|
|
2014
|
2013
|
2012
|
2011
|
2010
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income from continuing operations attributable to Alliant Energy Corporation common shareowners
|
|
$345.5
|
|
|
|
$325.3
|
|
|
|
$385.5
|
|
|
$364.2
|
|
|
$324.9
|
|
|
$323.1
|
|
|
$291.5
|
|
Income taxes (a)
|
59.5
|
|
|
46.2
|
|
|
44.3
|
|
53.9
|
|
89.4
|
|
69.2
|
|
147.7
|
|
|||||||
Subtotal
|
405.0
|
|
|
371.5
|
|
|
429.8
|
|
418.1
|
|
414.3
|
|
392.3
|
|
439.2
|
|
|||||||
Fixed charges as defined
|
151.5
|
|
|
146.4
|
|
|
195.7
|
|
189.0
|
|
208.0
|
|
208.4
|
|
215.4
|
|
|||||||
Adjustment for undistributed equity earnings
|
(7.1
|
)
|
|
(7.0
|
)
|
|
(4.0
|
)
|
(8.3
|
)
|
(7.1
|
)
|
(7.0
|
)
|
(5.9
|
)
|
|||||||
Less:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest capitalized
|
1.1
|
|
|
0.6
|
|
|
1.0
|
|
0.5
|
|
6.1
|
|
2.7
|
|
—
|
|
|||||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b)
|
9.0
|
|
|
8.8
|
|
|
11.3
|
|
13.0
|
|
20.1
|
|
22.0
|
|
27.6
|
|
|||||||
Total earnings as defined
|
|
$539.3
|
|
|
|
$501.5
|
|
|
|
$609.2
|
|
|
$585.3
|
|
|
$589.0
|
|
|
$569.0
|
|
|
$621.1
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$139.5
|
|
|
|
$134.9
|
|
|
|
$180.6
|
|
|
$172.8
|
|
|
$156.7
|
|
|
$158.3
|
|
|
$162.8
|
|
Interest capitalized
|
1.1
|
|
|
0.6
|
|
|
1.0
|
|
0.5
|
|
6.1
|
|
2.7
|
|
—
|
|
|||||||
Estimated interest component of rent expense
|
1.9
|
|
|
2.1
|
|
|
2.8
|
|
2.7
|
|
25.1
|
|
25.4
|
|
25.0
|
|
|||||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b)
|
9.0
|
|
|
8.8
|
|
|
11.3
|
|
13.0
|
|
20.1
|
|
22.0
|
|
27.6
|
|
|||||||
Total fixed charges as defined
|
|
$151.5
|
|
|
|
$146.4
|
|
|
|
$195.7
|
|
|
$189.0
|
|
|
$208.0
|
|
|
$208.4
|
|
|
$215.4
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges (c)
|
3.56
|
|
|
3.43
|
|
|
3.11
|
|
3.10
|
|
2.83
|
|
2.73
|
|
2.88
|
|
|
Nine Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
September 30,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2015
|
|
2014
|
|
2014
|
2013
|
2012
|
2011
|
2010
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income
|
|
$189.6
|
|
|
|
$172.0
|
|
|
|
$194.6
|
|
|
$189.9
|
|
|
$150.2
|
|
|
$139.3
|
|
|
$143.4
|
|
Income tax expense (benefit) (a)
|
(25.8
|
)
|
|
(34.9
|
)
|
|
(51.7
|
)
|
(37.9
|
)
|
(19.8
|
)
|
(3.6
|
)
|
42.3
|
|
|||||||
Income before income taxes
|
163.8
|
|
|
137.1
|
|
|
142.9
|
|
152.0
|
|
130.4
|
|
135.7
|
|
185.7
|
|
|||||||
Fixed charges as defined
|
72.7
|
|
|
67.9
|
|
|
91.0
|
|
82.3
|
|
79.3
|
|
79.6
|
|
83.1
|
|
|||||||
Total earnings as defined
|
|
$236.5
|
|
|
|
$205.0
|
|
|
|
$233.9
|
|
|
$234.3
|
|
|
$209.7
|
|
|
$215.3
|
|
|
$268.8
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$71.8
|
|
|
|
$67.0
|
|
|
|
$89.9
|
|
|
$81.3
|
|
|
$78.5
|
|
|
$78.7
|
|
|
$82.2
|
|
Estimated interest component of rent expense
|
0.9
|
|
|
0.9
|
|
|
1.1
|
|
1.0
|
|
0.8
|
|
0.9
|
|
0.9
|
|
|||||||
Total fixed charges as defined
|
|
$72.7
|
|
|
|
$67.9
|
|
|
|
$91.0
|
|
|
$82.3
|
|
|
$79.3
|
|
|
$79.6
|
|
|
$83.1
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges
|
3.25
|
|
|
3.02
|
|
|
2.57
|
|
2.85
|
|
2.64
|
|
2.70
|
|
3.23
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Preferred dividend requirements (pre-tax basis) (b)
|
|
$6.7
|
|
|
|
$6.1
|
|
|
|
$7.5
|
|
|
$8.6
|
|
|
$10.9
|
|
|
$14.6
|
|
|
$19.9
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Fixed charges and preferred dividend requirements
|
|
$79.4
|
|
|
|
$74.0
|
|
|
|
$98.5
|
|
|
$90.9
|
|
|
$90.2
|
|
|
$94.2
|
|
|
$103.0
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements
|
2.98
|
|
|
2.77
|
|
|
2.37
|
|
2.58
|
|
2.32
|
|
2.29
|
|
2.61
|
|
|
Nine Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
September 30,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2015
|
|
2014
|
|
2014
|
2013
|
2012
|
2011
|
2010
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income
|
|
$152.2
|
|
|
|
$151.0
|
|
|
|
$180.8
|
|
|
$177.5
|
|
|
$165.7
|
|
|
$163.5
|
|
|
$152.3
|
|
Income taxes (a)
|
74.0
|
|
|
68.0
|
|
|
85.6
|
|
87.2
|
|
94.6
|
|
81.9
|
|
98.3
|
|
|||||||
Income before income taxes
|
226.2
|
|
|
219.0
|
|
|
266.4
|
|
264.7
|
|
260.3
|
|
245.4
|
|
250.6
|
|
|||||||
Fixed charges as defined
|
70.4
|
|
|
64.1
|
|
|
87.7
|
|
86.4
|
|
103.9
|
|
103.3
|
|
101.6
|
|
|||||||
Adjustment for undistributed equity earnings
|
(8.4
|
)
|
|
(7.0
|
)
|
|
(6.4
|
)
|
(8.3
|
)
|
(7.9
|
)
|
(6.4
|
)
|
(5.6
|
)
|
|||||||
Total earnings as defined
|
|
$288.2
|
|
|
|
$276.1
|
|
|
|
$347.7
|
|
|
$342.8
|
|
|
$356.3
|
|
|
$342.3
|
|
|
$346.6
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$69.5
|
|
|
|
$63.2
|
|
|
|
$86.4
|
|
|
$85.0
|
|
|
$80.2
|
|
|
$79.9
|
|
|
$78.6
|
|
Estimated interest component of rent expense
|
0.9
|
|
|
0.9
|
|
|
1.3
|
|
1.4
|
|
23.7
|
|
23.4
|
|
23.0
|
|
|||||||
Total fixed charges as defined
|
|
$70.4
|
|
|
|
$64.1
|
|
|
|
$87.7
|
|
|
$86.4
|
|
|
$103.9
|
|
|
$103.3
|
|
|
$101.6
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges
|
4.09
|
|
|
4.31
|
|
|
3.96
|
|
3.97
|
|
3.43
|
|
3.31
|
|
3.41
|
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Alliant Energy Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman, President and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Alliant Energy Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Thomas L. Hanson
|
Thomas L. Hanson
|
Senior Vice President and Chief Financial Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Thomas L. Hanson
|
Thomas L. Hanson
|
Senior Vice President and Chief Financial Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Wisconsin Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Wisconsin Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
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Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
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/s/ Thomas L. Hanson
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Thomas L. Hanson
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Senior Vice President and Chief Financial Officer
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/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman, President and Chief Executive Officer
|
/s/ Thomas L. Hanson
|
Thomas L. Hanson
|
Senior Vice President and Chief Financial Officer
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
/s/ Thomas L. Hanson
|
Thomas L. Hanson
|
Senior Vice President and Chief Financial Officer
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
/s/ Thomas L. Hanson
|
Thomas L. Hanson
|
Senior Vice President and Chief Financial Officer
|