|
|
|
|
|
|
|
|
|
|
x
|
ANNUAL 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
|
|
|
|
Title of Class
|
Name of Each Exchange on Which Registered
|
Alliant Energy Corporation
|
Common Stock, $0.01 Par Value
|
New York Stock Exchange
|
Alliant Energy Corporation
|
Common Share Purchase Rights
|
New York Stock Exchange
|
Interstate Power and Light Company
|
5.100% Series D Cumulative Perpetual Preferred Stock, $0.01 Par Value
|
New York Stock Exchange
|
|
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
|
|
|
Alliant Energy Corporation
|
$6.5 billion
|
Interstate Power and Light Company
|
$—
|
Wisconsin Power and Light Company
|
$—
|
|
Page Number
|
|||||
|
||||||
|
||||||
|
||||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
||||||
|
||||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
|
Page Number
|
|||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
|
|
||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
|
Abbreviation or Acronym
|
Definition
|
2016 Alliant Energy Proxy Statement
|
Alliant Energy’s Proxy Statement for the 2016 Annual Meeting of Shareowners
|
AFUDC
|
Allowance for funds used during construction
|
Alliant Energy
|
Alliant Energy Corporation
|
ANR
|
ANR Pipeline
|
AOCL
|
Accumulated other comprehensive loss
|
ARO
|
Asset retirement obligation
|
ARRs
|
Auction revenue rights
|
ARRA
|
American Recovery and Reinvestment Act of 2009
|
ATC
|
American Transmission Company LLC
|
ATI
|
AE Transco Investments, LLC
|
Audit Committee
|
Audit Committee of the Board of Directors
|
Bent Tree
|
Bent Tree - Phase I wind farm
|
CA
|
Certificate of authority
|
CAA
|
Clean Air Act
|
CAIR
|
Clean Air Interstate Rule
|
CAO
|
Chief Accounting Officer
|
Cash Balance Plan
|
Alliant Energy Cash Balance Pension Plan
|
CCR
|
Coal combustion residuals
|
CDD
|
Cooling degree days
|
CEO
|
Chief Executive Officer
|
CFO
|
Chief Financial Officer
|
CO2
|
Carbon dioxide
|
CO2e
|
Carbon dioxide-equivalent
|
Columbia
|
Columbia Energy Center
|
Corporate Services
|
Alliant Energy Corporate Services, Inc.
|
CPCN
|
Certificate of Public Convenience and Necessity
|
CRANDIC
|
Cedar Rapids and Iowa City Railway Company
|
CSAPR
|
Cross-State Air Pollution Rule
|
CWIP
|
Construction work in progress
|
DAEC
|
Duane Arnold Energy Center
|
DATC
|
Duke-American Transmission Company, LLC
|
DCP
|
Alliant Energy Deferred Compensation Plan
|
DLIP
|
Alliant Energy Director Long Term Incentive Plan
|
DNR
|
Department of Natural Resources
|
Dth
|
Dekatherm
|
Edgewater
|
Edgewater Generating Station
|
EECR
|
Energy efficiency cost recovery
|
EEP
|
Energy efficiency plan
|
EGU
|
Electric generating unit
|
Emery
|
Emery Generating Station
|
EPA
|
U.S. Environmental Protection Agency
|
EPB
|
Emissions plan and budget
|
EPS
|
Earnings per weighted average common share
|
EVP
|
Executive Vice President
|
FASB
|
Financial Accounting Standards Board
|
FCS
|
Firm Citygate Supplies
|
FERC
|
Federal Energy Regulatory Commission
|
Financial Statements
|
Consolidated Financial Statements
|
FTR
|
Financial transmission right
|
Fuel-related
|
Electric production fuel and energy purchases
|
FWS
|
U.S. Fish and Wildlife Service
|
GAAP
|
U.S. generally accepted accounting principles
|
GHG
|
Greenhouse gases
|
HAPs
|
Hazardous air pollutants
|
HDD
|
Heating degree days
|
IBEW
|
International Brotherhood of Electrical Workers
|
IPL
|
Interstate Power and Light Company
|
IRS
|
Internal Revenue Service
|
ITC
|
ITC Midwest LLC
|
Abbreviation or Acronym
|
Definition
|
IUB
|
Iowa Utilities Board
|
KEESA
|
Key Executive Employment and Severance Agreement
|
Kewaunee
|
Kewaunee Nuclear Power Plant
|
KWh
|
Kilowatt-hour
|
Marshalltown
|
Marshalltown Generating Station
|
MATS
|
Mercury and Air Toxic Standard
|
MDA
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
MGP
|
Manufactured gas plant
|
MISO
|
Midcontinent Independent System Operator, Inc.
|
MPUC
|
Minnesota Public Utilities Commission
|
MVP
|
Multi-value project
|
MW
|
Megawatt
|
MWh
|
Megawatt-hour
|
N.A.
|
National Association
|
N/A
|
Not applicable
|
NAAQS
|
National Ambient Air Quality Standards
|
NBPL
|
Northern Border Pipeline Company
|
Neenah
|
Neenah Energy Facility
|
Nelson Dewey
|
Nelson Dewey Generating Station
|
NGPL
|
Natural Gas Pipeline Co. of America
|
NNG
|
Northern Natural Gas Company
|
Northern Iowa Court
|
U.S. District Court for the Northern District of Iowa
|
Note(s)
|
Combined Notes to Consolidated Financial Statements
|
NOx
|
Nitrogen oxide
|
OIP
|
Alliant Energy 2010 Omnibus Incentive Plan
|
OPEB
|
Other postretirement benefits
|
PATH Act
|
Protecting Americans from Tax Hikes Act
|
PPA
|
Purchased power agreement
|
PSCW
|
Public Service Commission of Wisconsin
|
PSD
|
Prevention of Significant Deterioration
|
RECs
|
Renewable energy credits
|
Receivables Agreement
|
Receivables Purchase and Sale Agreement
|
RES
|
Renewable energy standards
|
Resources
|
Alliant Energy Resources, LLC
|
Riverside
|
Riverside Energy Center
|
RMT
|
RMT, Inc.
|
RPS
|
Renewable portfolio standard
|
SCR
|
Selective catalytic reduction
|
SEC
|
Securities and Exchange Commission
|
Sheboygan Falls
|
Sheboygan Falls Energy Facility
|
SIP
|
State implementation plan
|
SO2
|
Sulfur dioxide
|
SRP
|
Supplemental Retirement Plan
|
SSR
|
System Support Resource
|
U.S.
|
United States of America
|
VEBA
|
Voluntary Employees’ Beneficiary Association
|
VIE
|
Variable interest entity
|
VP
|
Vice President
|
WACC
|
Weighted-average cost of capital
|
Western Wisconsin Court
|
U.S. District Court for the Western District of Wisconsin
|
Whiting Petroleum
|
Whiting Petroleum Corporation
|
WPL
|
Wisconsin Power and Light Company
|
WPL Transco
|
WPL Transco, LLC
|
•
|
federal and state regulatory or governmental actions, including the impact of energy, tax, financial and health care legislation, and of 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 2016;
|
•
|
the impact of WPL’s retail electric and gas base rate freeze in Wisconsin during 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 environmental control equipment for various fossil-fueled 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, employee safety, 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 natural gas, purchased electricity and coal, including due to the bankruptcy of coal mining companies;
|
•
|
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 CO2 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 integration of a new customer billing and information system, which was completed in 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 assets, RMT and Whiting Petroleum, 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;
|
•
|
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 standards 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;
|
•
|
impacts of the extension of bonus depreciation deductions;
|
•
|
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
Item 1A Risk Factors
.
|
|
Number of
|
|
Number of
|
|
Total
|
|
Percentage of Employees
|
||||
|
Bargaining Unit
|
|
Other
|
|
Number of
|
|
Covered by Collective
|
||||
|
Employees
|
|
Employees
|
|
Employees
|
|
Bargaining Agreements
|
||||
IPL
|
1,103
|
|
|
584
|
|
|
1,687
|
|
|
65
|
%
|
WPL
|
1,117
|
|
|
241
|
|
|
1,358
|
|
|
82
|
%
|
Corporate Services
|
26
|
|
|
886
|
|
|
912
|
|
|
3
|
%
|
Resources
|
88
|
|
|
25
|
|
|
113
|
|
|
78
|
%
|
|
2,334
|
|
|
1,736
|
|
|
4,070
|
|
|
57
|
%
|
|
Number of
|
|
Contract
|
|
|
Employees
|
|
Expiration Date
|
|
IPL:
|
|
|
|
|
IBEW Local 204 (Cedar Rapids)
|
785
|
|
|
8/31/17
|
IBEW - Various
|
318
|
|
|
Various
|
|
1,103
|
|
|
|
WPL - IBEW Local 965
|
1,117
|
|
|
5/31/19
|
Resources and Corporate Services - Various
|
114
|
|
|
Various
|
|
2,334
|
|
|
|
|
2015
|
|
2014
|
|
2013
|
||||||||||||||||||||||||||||||
|
IPL
|
|
WPL
|
|
IPL
|
|
WPL
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||
|
Revenue
|
|
Income
|
|
Revenue
|
|
Income
|
|
Revenue
|
|
Income
|
|
Revenue
|
|
Income
|
|
Revenue
|
|
Income
|
|
Revenue
|
|
Income
|
||||||||||||
Electric
|
85
|
%
|
|
91
|
%
|
|
88
|
%
|
|
96
|
%
|
|
81
|
%
|
|
80
|
%
|
|
84
|
%
|
|
92
|
%
|
|
82
|
%
|
|
82
|
%
|
|
85
|
%
|
|
92
|
%
|
Gas
|
12
|
%
|
|
7
|
%
|
|
12
|
%
|
|
5
|
%
|
|
16
|
%
|
|
12
|
%
|
|
15
|
%
|
|
9
|
%
|
|
15
|
%
|
|
14
|
%
|
|
14
|
%
|
|
9
|
%
|
Other
|
3
|
%
|
|
2
|
%
|
|
—
|
%
|
|
(1
|
%)
|
|
3
|
%
|
|
8
|
%
|
|
1
|
%
|
|
(1
|
%)
|
|
3
|
%
|
|
4
|
%
|
|
1
|
%
|
|
(1
|
%)
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
IPL
|
|
WPL
|
||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
||||||
IUB
|
93
|
%
|
|
93
|
%
|
|
93
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
PSCW
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
87
|
%
|
|
86
|
%
|
|
85
|
%
|
MPUC
|
3
|
%
|
|
5
|
%
|
|
5
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
FERC
|
4
|
%
|
|
2
|
%
|
|
2
|
%
|
|
13
|
%
|
|
14
|
%
|
|
15
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
Retail
|
|
Wholesale
|
|
Other
|
|
Total
|
||||
|
Customers
|
|
Customers
|
|
Customers
|
|
Customers
|
||||
IPL
|
488,582
|
|
|
8
|
|
|
1,042
|
|
|
489,632
|
|
WPL
|
461,466
|
|
|
21
|
|
|
1,859
|
|
|
463,346
|
|
|
950,048
|
|
|
29
|
|
|
2,901
|
|
|
952,978
|
|
|
2015
|
|
2014
|
||||||||||||
|
Summer Peak
|
|
Winter Peak
|
|
Summer Peak
|
|
Winter Peak
|
||||||||
|
MW
|
|
Date
|
|
MW
|
|
Date
|
|
MW
|
|
Date
|
|
MW
|
|
Date
|
Alliant Energy
|
5,385
|
|
July 13
|
|
4,668
|
|
January 7
|
|
5,426
|
|
July 22
|
|
4,803
|
|
January 6
|
IPL
|
3,005
|
|
July 13
|
|
2,531
|
|
January 7
|
|
2,840
|
|
September 4
|
|
2,601
|
|
January 6
|
WPL
|
2,564
|
|
August 14
|
|
2,153
|
|
January 7
|
|
2,594
|
|
July 22
|
|
2,202
|
|
January 6
|
|
2015
|
|
2014
|
|
2013
|
|||||||||||||||||||||
|
IPL
|
|
WPL
|
|
Total
|
|
IPL
|
|
WPL
|
|
Total
|
|
IPL
|
|
WPL
|
|
Total
|
|||||||||
Internally generated coal-fired EGUs
|
38
|
%
|
|
46
|
%
|
|
42
|
%
|
|
43
|
%
|
|
47
|
%
|
|
45
|
%
|
|
41
|
%
|
|
56
|
%
|
|
48
|
%
|
Purchased power
|
46
|
%
|
|
28
|
%
|
|
37
|
%
|
|
47
|
%
|
|
33
|
%
|
|
40
|
%
|
|
49
|
%
|
|
29
|
%
|
|
40
|
%
|
Internally generated natural gas-fired EGUs
|
12
|
%
|
|
20
|
%
|
|
15
|
%
|
|
6
|
%
|
|
13
|
%
|
|
10
|
%
|
|
6
|
%
|
|
9
|
%
|
|
7
|
%
|
Internally generated wind farms
|
4
|
%
|
|
5
|
%
|
|
5
|
%
|
|
4
|
%
|
|
5
|
%
|
|
5
|
%
|
|
4
|
%
|
|
5
|
%
|
|
4
|
%
|
Other
|
—
|
%
|
|
1
|
%
|
|
1
|
%
|
|
—
|
%
|
|
2
|
%
|
|
—
|
%
|
|
—
|
%
|
|
1
|
%
|
|
1
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
2015
|
|
2014
|
||||||||||||||||||||||||||||||||
|
IPL
|
|
WPL
|
|
Total
|
|
IPL
|
|
WPL
|
|
Total
|
||||||||||||||||||||||||
|
MWs
|
|
%
|
|
MWs
|
|
%
|
|
MWs
|
|
%
|
|
MWs
|
|
%
|
|
MWs
|
|
%
|
|
MWs
|
|
%
|
||||||||||||
Natural gas
|
1,249
|
|
|
39
|
%
|
|
1,448
|
|
|
50
|
%
|
|
2,697
|
|
|
44
|
%
|
|
1,031
|
|
|
32
|
%
|
|
1,448
|
|
|
45
|
%
|
|
2,479
|
|
|
39
|
%
|
Coal
|
1,423
|
|
|
44
|
%
|
|
1,167
|
|
|
40
|
%
|
|
2,590
|
|
|
42
|
%
|
|
1,641
|
|
|
51
|
%
|
|
1,463
|
|
|
46
|
%
|
|
3,104
|
|
|
48
|
%
|
Oil
|
343
|
|
|
11
|
%
|
|
—
|
|
|
—
|
%
|
|
343
|
|
|
6
|
%
|
|
347
|
|
|
11
|
%
|
|
—
|
|
|
—
|
%
|
|
347
|
|
|
5
|
%
|
Wind
|
200
|
|
|
6
|
%
|
|
269
|
|
|
9
|
%
|
|
469
|
|
|
8
|
%
|
|
200
|
|
|
6
|
%
|
|
269
|
|
|
8
|
%
|
|
469
|
|
|
7
|
%
|
Hydro
|
—
|
|
|
—
|
%
|
|
41
|
|
|
1
|
%
|
|
41
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
41
|
|
|
1
|
%
|
|
41
|
|
|
1
|
%
|
Total
|
3,215
|
|
|
100
|
%
|
|
2,925
|
|
|
100
|
%
|
|
6,140
|
|
|
100
|
%
|
|
3,219
|
|
|
100
|
%
|
|
3,221
|
|
|
100
|
%
|
|
6,440
|
|
|
100
|
%
|
|
IPL
|
|
WPL
|
||||||||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
||||||||||||
All fuels
|
|
$2.21
|
|
|
|
$2.50
|
|
|
|
$2.36
|
|
|
|
$2.67
|
|
|
|
$2.82
|
|
|
|
$2.52
|
|
Coal
|
1.94
|
|
|
2.05
|
|
|
1.99
|
|
|
2.49
|
|
|
2.22
|
|
|
2.21
|
|
||||||
Natural gas (a)
|
3.37
|
|
|
6.05
|
|
|
4.63
|
|
|
3.68
|
|
|
5.51
|
|
|
4.86
|
|
(a)
|
The average cost of natural gas includes commodity and transportation costs as well as realized gains and losses from swap and option contracts used to hedge the price of natural gas volumes expected to be used by IPL’s and WPL’s natural gas-fired EGUs.
|
|
Storage
|
|
Firm Pipeline
|
||
|
Capacity
|
|
Transportation
|
||
Riverside
|
2,500,000
|
|
|
80,000
|
|
Emery
|
1,250,000
|
|
|
60,000
|
|
Electric Operating Information - Alliant Energy
|
2015
|
|
2014
|
|
2013
|
|
2012
|
|
2011
|
||||||||||
Operating Revenues (in millions) (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
|
$983.0
|
|
|
|
$994.5
|
|
|
|
$1,009.1
|
|
|
|
$975.9
|
|
|
|
$985.8
|
|
Commercial
|
667.8
|
|
|
658.0
|
|
|
649.4
|
|
|
611.4
|
|
|
612.1
|
|
|||||
Industrial
|
823.3
|
|
|
799.0
|
|
|
765.4
|
|
|
741.8
|
|
|
748.9
|
|
|||||
Retail subtotal
|
2,474.1
|
|
|
2,451.5
|
|
|
2,423.9
|
|
|
2,329.1
|
|
|
2,346.8
|
|
|||||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
||||||||||
Wholesale
|
221.0
|
|
|
206.6
|
|
|
195.4
|
|
|
187.6
|
|
|
189.8
|
|
|||||
Bulk power and other
|
28.5
|
|
|
2.9
|
|
|
17.7
|
|
|
23.8
|
|
|
52.2
|
|
|||||
Other
|
46.9
|
|
|
52.6
|
|
|
52.0
|
|
|
48.8
|
|
|
47.0
|
|
|||||
Total
|
|
$2,770.5
|
|
|
|
$2,713.6
|
|
|
|
$2,689.0
|
|
|
|
$2,589.3
|
|
|
|
$2,635.8
|
|
Electric Sales (000s MWh) (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
7,271
|
|
|
7,697
|
|
|
7,824
|
|
|
7,679
|
|
|
7,740
|
|
|||||
Commercial
|
6,374
|
|
|
6,449
|
|
|
6,432
|
|
|
6,352
|
|
|
6,253
|
|
|||||
Industrial
|
11,735
|
|
|
11,821
|
|
|
11,471
|
|
|
11,555
|
|
|
11,504
|
|
|||||
Retail subtotal
|
25,380
|
|
|
25,967
|
|
|
25,727
|
|
|
25,586
|
|
|
25,497
|
|
|||||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
||||||||||
Wholesale
|
3,614
|
|
|
3,586
|
|
|
3,564
|
|
|
3,317
|
|
|
3,372
|
|
|||||
Bulk power and other
|
1,228
|
|
|
335
|
|
|
763
|
|
|
1,303
|
|
|
1,757
|
|
|||||
Other
|
129
|
|
|
155
|
|
|
152
|
|
|
151
|
|
|
151
|
|
|||||
Total
|
30,351
|
|
|
30,043
|
|
|
30,206
|
|
|
30,357
|
|
|
30,777
|
|
|||||
Customers (End of Period) (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
809,634
|
|
|
850,322
|
|
|
847,350
|
|
|
844,388
|
|
|
842,780
|
|
|||||
Commercial
|
137,870
|
|
|
139,138
|
|
|
138,520
|
|
|
137,791
|
|
|
136,732
|
|
|||||
Industrial
|
2,544
|
|
|
2,871
|
|
|
2,881
|
|
|
2,842
|
|
|
2,895
|
|
|||||
Other
|
2,930
|
|
|
3,662
|
|
|
3,657
|
|
|
3,647
|
|
|
3,638
|
|
|||||
Total
|
952,978
|
|
|
995,993
|
|
|
992,408
|
|
|
988,668
|
|
|
986,045
|
|
|||||
Other Selected Electric Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Maximum summer peak hour demand (MW)
|
5,385
|
|
|
5,426
|
|
|
5,820
|
|
|
5,886
|
|
|
5,734
|
|
|||||
Maximum winter peak hour demand (MW)
|
4,668
|
|
|
4,803
|
|
|
4,648
|
|
|
4,368
|
|
|
4,423
|
|
|||||
Cooling degree days (b):
|
|
|
|
|
|
|
|
|
|
||||||||||
Cedar Rapids, Iowa (IPL) (normal - 769)
|
732
|
|
|
670
|
|
|
884
|
|
|
1,052
|
|
|
887
|
|
|||||
Madison, Wisconsin (WPL) (normal - 663)
|
665
|
|
|
620
|
|
|
709
|
|
|
1,070
|
|
|
814
|
|
|||||
Sources of electric energy (000s MWh):
|
|
|
|
|
|
|
|
|
|
||||||||||
Coal
|
13,040
|
|
|
13,818
|
|
|
14,873
|
|
|
14,680
|
|
|
16,440
|
|
|||||
Purchased power:
|
|
|
|
|
|
|
|
|
|
||||||||||
Nuclear (c)
|
3,741
|
|
|
3,133
|
|
|
5,544
|
|
|
5,483
|
|
|
5,483
|
|
|||||
Wind (d)
|
1,190
|
|
|
1,252
|
|
|
1,201
|
|
|
1,188
|
|
|
1,285
|
|
|||||
Other (d)
|
6,675
|
|
|
8,074
|
|
|
5,541
|
|
|
7,053
|
|
|
6,244
|
|
|||||
Gas
|
4,738
|
|
|
2,971
|
|
|
2,224
|
|
|
1,285
|
|
|
588
|
|
|||||
Wind (d)
|
1,441
|
|
|
1,390
|
|
|
1,375
|
|
|
1,198
|
|
|
1,188
|
|
|||||
Other (d)
|
189
|
|
|
212
|
|
|
200
|
|
|
183
|
|
|
225
|
|
|||||
Total
|
31,014
|
|
|
30,850
|
|
|
30,958
|
|
|
31,070
|
|
|
31,453
|
|
|||||
Revenue per KWh sold to retail customers (cents)
|
9.75
|
|
|
9.44
|
|
|
9.42
|
|
|
9.10
|
|
|
9.20
|
|
(a)
|
In 2015, Alliant Energy sold its electric distribution assets in Minnesota to Southern Minnesota Energy Cooperative. At the date of the sale, Alliant Energy had approximately 42,000 electric retail customers in Minnesota. Prior to the asset sale, the electric sales to these retail customers are included in residential, commercial and industrial retail sales. Subsequent to the asset sale, the related electric sales are included in wholesale electric sales pursuant to a wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative, which is discussed in
Note 3
.
|
(b)
|
Cooling degree days 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 cooling degree days. Refer to “
Gas Utility Operations
” below for details of heating degree days.
|
(c)
|
2013 MWhs include replacement energy provided under the Kewaunee PPA after Kewaunee was shut down in May 2013.
|
(d)
|
All or some of the renewable energy attributes associated with generation from these sources may be used in future years to comply with renewable energy standards or other regulatory requirements, or sold to third parties in the form of renewable energy credits or other environmental commodities.
|
Electric Operating Information - IPL
|
2015
|
|
2014
|
|
2013
|
|
2012
|
|
2011
|
||||||||||
Operating Revenues (in millions) (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
|
$540.3
|
|
|
|
$556.4
|
|
|
|
$574.3
|
|
|
|
$529.9
|
|
|
|
$543.2
|
|
Commercial
|
416.3
|
|
|
410.2
|
|
|
409.6
|
|
|
365.3
|
|
|
366.0
|
|
|||||
Industrial
|
453.6
|
|
|
458.5
|
|
|
442.9
|
|
|
408.0
|
|
|
415.4
|
|
|||||
Retail subtotal
|
1,410.2
|
|
|
1,425.1
|
|
|
1,426.8
|
|
|
1,303.2
|
|
|
1,324.6
|
|
|||||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
||||||||||
Wholesale
|
56.4
|
|
|
32.2
|
|
|
30.0
|
|
|
27.8
|
|
|
29.6
|
|
|||||
Bulk power and other
|
5.1
|
|
|
2.1
|
|
|
2.0
|
|
|
9.5
|
|
|
24.6
|
|
|||||
Other
|
32.1
|
|
|
33.9
|
|
|
33.0
|
|
|
30.6
|
|
|
29.5
|
|
|||||
Total
|
|
$1,503.8
|
|
|
|
$1,493.3
|
|
|
|
$1,491.8
|
|
|
|
$1,371.1
|
|
|
|
$1,408.3
|
|
Electric Sales (000s MWh) (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
3,843
|
|
|
4,164
|
|
|
4,272
|
|
|
4,141
|
|
|
4,223
|
|
|||||
Commercial
|
4,059
|
|
|
4,099
|
|
|
4,118
|
|
|
4,045
|
|
|
3,953
|
|
|||||
Industrial
|
6,922
|
|
|
7,132
|
|
|
6,973
|
|
|
7,116
|
|
|
7,080
|
|
|||||
Retail subtotal
|
14,824
|
|
|
15,395
|
|
|
15,363
|
|
|
15,302
|
|
|
15,256
|
|
|||||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
||||||||||
Wholesale
|
845
|
|
|
485
|
|
|
419
|
|
|
418
|
|
|
417
|
|
|||||
Bulk power and other
|
178
|
|
|
59
|
|
|
98
|
|
|
377
|
|
|
729
|
|
|||||
Other
|
67
|
|
|
81
|
|
|
80
|
|
|
81
|
|
|
84
|
|
|||||
Total
|
15,914
|
|
|
16,020
|
|
|
15,960
|
|
|
16,178
|
|
|
16,486
|
|
|||||
Customers (End of Period) (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
406,028
|
|
|
445,483
|
|
|
444,905
|
|
|
443,802
|
|
|
443,358
|
|
|||||
Commercial
|
80,982
|
|
|
81,853
|
|
|
81,587
|
|
|
81,203
|
|
|
80,506
|
|
|||||
Industrial
|
1,572
|
|
|
1,856
|
|
|
1,863
|
|
|
1,836
|
|
|
1,906
|
|
|||||
Other
|
1,050
|
|
|
1,385
|
|
|
1,374
|
|
|
1,381
|
|
|
1,381
|
|
|||||
Total
|
489,632
|
|
|
530,577
|
|
|
529,729
|
|
|
528,222
|
|
|
527,151
|
|
|||||
Other Selected Electric Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Maximum summer peak hour demand (MW)
|
3,005
|
|
|
2,840
|
|
|
3,107
|
|
|
3,130
|
|
|
3,131
|
|
|||||
Maximum winter peak hour demand (MW)
|
2,531
|
|
|
2,601
|
|
|
2,528
|
|
|
2,404
|
|
|
2,454
|
|
|||||
Cooling degree days (b):
|
|
|
|
|
|
|
|
|
|
||||||||||
Cedar Rapids, Iowa (normal - 769)
|
732
|
|
|
670
|
|
|
884
|
|
|
1,052
|
|
|
887
|
|
|||||
Sources of electric energy (000s MWh):
|
|
|
|
|
|
|
|
|
|
||||||||||
Coal
|
6,263
|
|
|
7,092
|
|
|
6,705
|
|
|
7,302
|
|
|
8,456
|
|
|||||
Purchased power:
|
|
|
|
|
|
|
|
|
|
||||||||||
Nuclear
|
3,741
|
|
|
3,133
|
|
|
3,592
|
|
|
3,641
|
|
|
3,624
|
|
|||||
Wind (c)
|
757
|
|
|
798
|
|
|
768
|
|
|
743
|
|
|
661
|
|
|||||
Other (c)
|
3,015
|
|
|
3,802
|
|
|
3,766
|
|
|
3,237
|
|
|
3,094
|
|
|||||
Gas
|
1,874
|
|
|
1,069
|
|
|
920
|
|
|
1,081
|
|
|
532
|
|
|||||
Wind (c)
|
653
|
|
|
622
|
|
|
639
|
|
|
579
|
|
|
568
|
|
|||||
Other (c)
|
5
|
|
|
12
|
|
|
22
|
|
|
38
|
|
|
18
|
|
|||||
Total
|
16,308
|
|
|
16,528
|
|
|
16,412
|
|
|
16,621
|
|
|
16,953
|
|
|||||
Revenue per KWh sold to retail customers (cents)
|
9.51
|
|
|
9.26
|
|
|
9.29
|
|
|
8.52
|
|
|
8.68
|
|
(a)
|
In 2015, IPL sold its electric distribution assets in Minnesota to Southern Minnesota Energy Cooperative. At the date of the sale, IPL had approximately 42,000 electric retail customers in Minnesota. Prior to the asset sale, the electric sales to these retail customers are included in residential, commercial and industrial retail sales. Subsequent to the asset sale, the related electric sales are included in wholesale electric sales pursuant to a wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative, which is discussed in
Note 3
.
|
(b)
|
Cooling degree days 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 cooling degree days. Refer to “
Gas Utility Operations
” below for details of heating degree days.
|
(c)
|
All or some of the renewable energy attributes associated with generation from these sources may be used in future years to comply with renewable energy standards or other regulatory requirements, or sold to third parties in the form of renewable energy credits or other environmental commodities.
|
Electric Operating Information - WPL
|
2015
|
|
2014
|
|
2013
|
|
2012
|
|
2011
|
||||||||||
Operating Revenues (in millions):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
|
$442.7
|
|
|
|
$438.1
|
|
|
|
$434.8
|
|
|
|
$446.0
|
|
|
|
$442.6
|
|
Commercial
|
251.5
|
|
|
247.8
|
|
|
239.8
|
|
|
246.1
|
|
|
246.1
|
|
|||||
Industrial
|
369.7
|
|
|
340.5
|
|
|
322.5
|
|
|
333.8
|
|
|
333.5
|
|
|||||
Retail subtotal
|
1,063.9
|
|
|
1,026.4
|
|
|
997.1
|
|
|
1,025.9
|
|
|
1,022.2
|
|
|||||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
||||||||||
Wholesale
|
164.6
|
|
|
174.4
|
|
|
165.4
|
|
|
159.8
|
|
|
160.2
|
|
|||||
Bulk power and other
|
23.4
|
|
|
0.8
|
|
|
15.7
|
|
|
14.3
|
|
|
27.6
|
|
|||||
Other
|
14.8
|
|
|
18.7
|
|
|
19.0
|
|
|
18.2
|
|
|
17.5
|
|
|||||
Total
|
|
$1,266.7
|
|
|
|
$1,220.3
|
|
|
|
$1,197.2
|
|
|
|
$1,218.2
|
|
|
|
$1,227.5
|
|
Electric Sales (000s MWh):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
3,428
|
|
|
3,533
|
|
|
3,552
|
|
|
3,538
|
|
|
3,517
|
|
|||||
Commercial
|
2,315
|
|
|
2,350
|
|
|
2,314
|
|
|
2,307
|
|
|
2,300
|
|
|||||
Industrial
|
4,813
|
|
|
4,689
|
|
|
4,498
|
|
|
4,439
|
|
|
4,424
|
|
|||||
Retail subtotal
|
10,556
|
|
|
10,572
|
|
|
10,364
|
|
|
10,284
|
|
|
10,241
|
|
|||||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
||||||||||
Wholesale
|
2,769
|
|
|
3,101
|
|
|
3,145
|
|
|
2,899
|
|
|
2,955
|
|
|||||
Bulk power and other
|
1,050
|
|
|
276
|
|
|
665
|
|
|
926
|
|
|
1,028
|
|
|||||
Other
|
62
|
|
|
74
|
|
|
72
|
|
|
70
|
|
|
67
|
|
|||||
Total
|
14,437
|
|
|
14,023
|
|
|
14,246
|
|
|
14,179
|
|
|
14,291
|
|
|||||
Customers (End of Period):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
403,606
|
|
|
404,839
|
|
|
402,445
|
|
|
400,586
|
|
|
399,422
|
|
|||||
Commercial
|
56,888
|
|
|
57,285
|
|
|
56,933
|
|
|
56,588
|
|
|
56,226
|
|
|||||
Industrial
|
972
|
|
|
1,015
|
|
|
1,018
|
|
|
1,006
|
|
|
989
|
|
|||||
Other
|
1,880
|
|
|
2,277
|
|
|
2,283
|
|
|
2,266
|
|
|
2,257
|
|
|||||
Total
|
463,346
|
|
|
465,416
|
|
|
462,679
|
|
|
460,446
|
|
|
458,894
|
|
|||||
Other Selected Electric Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Maximum summer peak hour demand (MW)
|
2,564
|
|
|
2,594
|
|
|
2,752
|
|
|
2,851
|
|
|
2,761
|
|
|||||
Maximum winter peak hour demand (MW)
|
2,153
|
|
|
2,202
|
|
|
2,120
|
|
|
1,964
|
|
|
1,991
|
|
|||||
Cooling degree days (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Madison, Wisconsin (normal - 663)
|
665
|
|
|
620
|
|
|
709
|
|
|
1,070
|
|
|
814
|
|
|||||
Sources of electric energy (000s MWh):
|
|
|
|
|
|
|
|
|
|
||||||||||
Coal
|
6,777
|
|
|
6,726
|
|
|
8,168
|
|
|
7,378
|
|
|
7,984
|
|
|||||
Purchased power:
|
|
|
|
|
|
|
|
|
|
||||||||||
Nuclear (b)
|
—
|
|
|
—
|
|
|
1,952
|
|
|
1,842
|
|
|
1,859
|
|
|||||
Wind (c)
|
433
|
|
|
454
|
|
|
433
|
|
|
445
|
|
|
624
|
|
|||||
Other (c)
|
3,660
|
|
|
4,272
|
|
|
1,775
|
|
|
3,816
|
|
|
3,150
|
|
|||||
Gas
|
2,864
|
|
|
1,902
|
|
|
1,304
|
|
|
204
|
|
|
56
|
|
|||||
Wind (c)
|
788
|
|
|
768
|
|
|
736
|
|
|
619
|
|
|
620
|
|
|||||
Other (c)
|
184
|
|
|
200
|
|
|
178
|
|
|
145
|
|
|
207
|
|
|||||
Total
|
14,706
|
|
|
14,322
|
|
|
14,546
|
|
|
14,449
|
|
|
14,500
|
|
|||||
Revenue per KWh sold to retail customers (cents)
|
10.08
|
|
|
9.71
|
|
|
9.62
|
|
|
9.98
|
|
|
9.98
|
|
(a)
|
Cooling degree days 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 cooling degree days. Refer to “
Gas Utility Operations
” below for details of heating degree days.
|
(b)
|
2013 MWhs include replacement energy provided under the Kewaunee PPA after Kewaunee was shut down in May 2013.
|
(c)
|
All or some of the renewable energy attributes associated with generation from these sources may be used in future years to comply with renewable energy standards or other regulatory requirements, or sold to third parties in the form of renewable energy credits or other environmental commodities.
|
|
Retail
|
|
Transportation /
|
|
Total
|
|||
|
Customers
|
|
Other Customers
|
|
Customers
|
|||
IPL
|
224,914
|
|
|
376
|
|
|
225,290
|
|
WPL
|
184,491
|
|
|
251
|
|
|
184,742
|
|
|
409,405
|
|
|
627
|
|
|
410,032
|
|
|
2015
|
|
2014
|
||||
|
Dth
|
|
Date
|
|
Dth
|
|
Date
|
IPL
|
267,314
|
|
January 7
|
|
296,190
|
|
January 6
|
WPL
|
209,289
|
|
January 7
|
|
234,837
|
|
January 6
|
|
NNG
|
|
ANR
|
|
NGPL
|
|
FCS
|
|
NBPL
|
|
Total
|
||||||
IPL
|
170,142
|
|
|
48,000
|
|
|
76,673
|
|
|
5,000
|
|
|
4,126
|
|
|
303,941
|
|
WPL
|
91,056
|
|
|
167,467
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
258,523
|
|
Gas Operating Information - Alliant Energy
|
2015
|
|
2014
|
|
2013
|
|
2012
|
|
2011
|
||||||||||
Operating Revenues (in millions) (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
|
$215.1
|
|
|
|
$287.5
|
|
|
|
$262.5
|
|
|
|
$224.3
|
|
|
|
$269.7
|
|
Commercial
|
120.5
|
|
|
172.8
|
|
|
150.3
|
|
|
124.3
|
|
|
155.1
|
|
|||||
Industrial
|
14.3
|
|
|
23.4
|
|
|
21.1
|
|
|
16.7
|
|
|
24.5
|
|
|||||
Retail subtotal
|
349.9
|
|
|
483.7
|
|
|
433.9
|
|
|
365.3
|
|
|
449.3
|
|
|||||
Transportation/other
|
31.3
|
|
|
33.8
|
|
|
30.9
|
|
|
31.0
|
|
|
27.4
|
|
|||||
Total
|
|
$381.2
|
|
|
|
$517.5
|
|
|
|
$464.8
|
|
|
|
$396.3
|
|
|
|
$476.7
|
|
Gas Sales (000s Dths) (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
26,672
|
|
|
31,718
|
|
|
29,916
|
|
|
23,071
|
|
|
26,891
|
|
|||||
Commercial
|
18,966
|
|
|
23,301
|
|
|
21,892
|
|
|
17,115
|
|
|
19,271
|
|
|||||
Industrial
|
2,997
|
|
|
3,710
|
|
|
3,803
|
|
|
3,068
|
|
|
3,848
|
|
|||||
Retail subtotal
|
48,635
|
|
|
58,729
|
|
|
55,611
|
|
|
43,254
|
|
|
50,010
|
|
|||||
Transportation/other
|
74,162
|
|
|
64,717
|
|
|
60,261
|
|
|
57,532
|
|
|
52,210
|
|
|||||
Total
|
122,797
|
|
|
123,446
|
|
|
115,872
|
|
|
100,786
|
|
|
102,220
|
|
|||||
Retail Customers at End of Period (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
364,415
|
|
|
373,319
|
|
|
370,895
|
|
|
368,708
|
|
|
367,497
|
|
|||||
Commercial
|
44,613
|
|
|
46,180
|
|
|
45,874
|
|
|
45,684
|
|
|
45,667
|
|
|||||
Industrial
|
377
|
|
|
428
|
|
|
441
|
|
|
456
|
|
|
496
|
|
|||||
Total
|
409,405
|
|
|
419,927
|
|
|
417,210
|
|
|
414,848
|
|
|
413,660
|
|
|||||
Other Selected Gas Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Heating degree days (b):
|
|
|
|
|
|
|
|
|
|
||||||||||
Cedar Rapids, Iowa (IPL) (normal - 6,756)
|
6,300
|
|
|
7,657
|
|
|
7,232
|
|
|
5,901
|
|
|
6,745
|
|
|||||
Madison, Wisconsin (WPL) (normal - 7,046)
|
6,667
|
|
|
7,884
|
|
|
7,627
|
|
|
5,964
|
|
|
6,992
|
|
|||||
Revenue per Dth sold to retail customers
|
|
$7.19
|
|
|
|
$8.24
|
|
|
|
$7.80
|
|
|
|
$8.45
|
|
|
|
$8.98
|
|
Purchased gas costs per Dth sold to retail customers
|
|
$4.40
|
|
|
|
$5.52
|
|
|
|
$4.90
|
|
|
|
$4.94
|
|
|
|
$5.88
|
|
(a)
|
In April 2015, Alliant Energy sold its natural gas distribution assets in Minnesota. At the date of the sale, Alliant Energy had approximately 11,000 gas retail customers in Minnesota.
|
(b)
|
Heating degree days 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 heating degree days.
|
Gas Operating Information - IPL
|
2015
|
|
2014
|
|
2013
|
|
2012
|
|
2011
|
||||||||||
Operating Revenues (in millions) (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
|
$120.0
|
|
|
|
$162.5
|
|
|
|
$152.8
|
|
|
|
$126.4
|
|
|
|
$155.2
|
|
Commercial
|
67.9
|
|
|
96.1
|
|
|
85.7
|
|
|
69.7
|
|
|
87.8
|
|
|||||
Industrial
|
10.5
|
|
|
17.4
|
|
|
16.1
|
|
|
12.8
|
|
|
19.0
|
|
|||||
Retail subtotal
|
198.4
|
|
|
276.0
|
|
|
254.6
|
|
|
208.9
|
|
|
262.0
|
|
|||||
Transportation/other
|
18.9
|
|
|
20.5
|
|
|
19.3
|
|
|
17.8
|
|
|
14.3
|
|
|||||
Total
|
|
$217.3
|
|
|
|
$296.5
|
|
|
|
$273.9
|
|
|
|
$226.7
|
|
|
|
$276.3
|
|
Gas Sales (000s Dths) (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
14,472
|
|
|
17,839
|
|
|
16,975
|
|
|
12,955
|
|
|
15,660
|
|
|||||
Commercial
|
10,166
|
|
|
12,641
|
|
|
12,051
|
|
|
9,403
|
|
|
10,677
|
|
|||||
Industrial
|
2,239
|
|
|
2,804
|
|
|
2,931
|
|
|
2,435
|
|
|
3,023
|
|
|||||
Retail subtotal
|
26,877
|
|
|
33,284
|
|
|
31,957
|
|
|
24,793
|
|
|
29,360
|
|
|||||
Transportation/other
|
34,129
|
|
|
31,377
|
|
|
32,019
|
|
|
30,992
|
|
|
27,720
|
|
|||||
Total
|
61,006
|
|
|
64,661
|
|
|
63,976
|
|
|
55,785
|
|
|
57,080
|
|
|||||
Retail Customers at End of Period (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
199,408
|
|
|
208,240
|
|
|
207,853
|
|
|
207,121
|
|
|
206,964
|
|
|||||
Commercial
|
25,289
|
|
|
26,530
|
|
|
26,460
|
|
|
26,439
|
|
|
26,455
|
|
|||||
Industrial
|
217
|
|
|
244
|
|
|
250
|
|
|
260
|
|
|
296
|
|
|||||
Total
|
224,914
|
|
|
235,014
|
|
|
234,563
|
|
|
233,820
|
|
|
233,715
|
|
|||||
Other Selected Gas Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Maximum daily winter peak demand (Dth)
|
267,314
|
|
|
296,190
|
|
|
262,076
|
|
|
233,456
|
|
|
264,252
|
|
|||||
Heating degree days (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Cedar Rapids, Iowa (normal - 6,756)
|
6,300
|
|
|
7,657
|
|
|
7,232
|
|
|
5,901
|
|
|
6,745
|
|
|||||
Revenue per Dth sold to retail customers
|
|
$7.38
|
|
|
|
$8.29
|
|
|
|
$7.97
|
|
|
|
$8.43
|
|
|
|
$8.92
|
|
Purchased gas cost per Dth sold to retail customers
|
|
$4.53
|
|
|
|
$5.54
|
|
|
|
$4.96
|
|
|
|
$4.92
|
|
|
|
$5.96
|
|
(a)
|
In April 2015, IPL sold its natural gas distribution assets in Minnesota. At the date of the sale, IPL had approximately 11,000 gas retail customers in Minnesota.
|
(b)
|
Heating degree days 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 heating degree days.
|
Gas Operating Information - WPL
|
2015
|
|
2014
|
|
2013
|
|
2012
|
|
2011
|
||||||||||
Operating Revenues (in millions):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
|
$95.1
|
|
|
|
$125.0
|
|
|
|
$109.7
|
|
|
|
$97.9
|
|
|
|
$114.5
|
|
Commercial
|
52.6
|
|
|
76.7
|
|
|
64.6
|
|
|
54.6
|
|
|
67.3
|
|
|||||
Industrial
|
3.8
|
|
|
6.0
|
|
|
5.0
|
|
|
3.9
|
|
|
5.5
|
|
|||||
Retail subtotal
|
151.5
|
|
|
207.7
|
|
|
179.3
|
|
|
156.4
|
|
|
187.3
|
|
|||||
Transportation/other
|
12.4
|
|
|
13.3
|
|
|
11.6
|
|
|
13.2
|
|
|
13.1
|
|
|||||
Total
|
|
$163.9
|
|
|
|
$221.0
|
|
|
|
$190.9
|
|
|
|
$169.6
|
|
|
|
$200.4
|
|
Gas Sales (000s Dths):
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
12,200
|
|
|
13,879
|
|
|
12,941
|
|
|
10,116
|
|
|
11,231
|
|
|||||
Commercial
|
8,800
|
|
|
10,660
|
|
|
9,841
|
|
|
7,712
|
|
|
8,594
|
|
|||||
Industrial
|
758
|
|
|
906
|
|
|
872
|
|
|
633
|
|
|
825
|
|
|||||
Retail subtotal
|
21,758
|
|
|
25,445
|
|
|
23,654
|
|
|
18,461
|
|
|
20,650
|
|
|||||
Transportation/other
|
40,033
|
|
|
33,340
|
|
|
28,242
|
|
|
26,540
|
|
|
24,490
|
|
|||||
Total
|
61,791
|
|
|
58,785
|
|
|
51,896
|
|
|
45,001
|
|
|
45,140
|
|
|||||
Retail Customers at End of Period:
|
|
|
|
|
|
|
|
|
|
||||||||||
Residential
|
165,007
|
|
|
165,079
|
|
|
163,042
|
|
|
161,587
|
|
|
160,533
|
|
|||||
Commercial
|
19,324
|
|
|
19,650
|
|
|
19,414
|
|
|
19,245
|
|
|
19,212
|
|
|||||
Industrial
|
160
|
|
|
184
|
|
|
191
|
|
|
196
|
|
|
200
|
|
|||||
Total
|
184,491
|
|
|
184,913
|
|
|
182,647
|
|
|
181,028
|
|
|
179,945
|
|
|||||
Other Selected Gas Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Maximum daily winter peak demand (Dth)
|
209,289
|
|
|
234,837
|
|
|
193,628
|
|
|
176,207
|
|
|
177,041
|
|
|||||
Heating degree days (a):
|
|
|
|
|
|
|
|
|
|
||||||||||
Madison, Wisconsin (normal - 7,046)
|
6,667
|
|
|
7,884
|
|
|
7,627
|
|
|
5,964
|
|
|
6,992
|
|
|||||
Revenue per Dth sold to retail customers
|
|
$6.96
|
|
|
|
$8.16
|
|
|
|
$7.58
|
|
|
|
$8.47
|
|
|
|
$9.07
|
|
Purchased gas cost per Dth sold to retail customers
|
|
$4.25
|
|
|
|
$5.48
|
|
|
|
$4.83
|
|
|
|
$4.97
|
|
|
|
$5.77
|
|
(a)
|
Heating degree days 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 heating degree days.
|
|
|
|
|
|
|
Primary
|
|
Nameplate
|
|
Generating
|
||
|
|
|
|
In-service
|
|
Dispatch
|
|
Capacity
|
|
Capacity
|
||
Name of EGU
|
|
Location
|
|
Dates
|
|
Type (a)
|
|
in MW
|
|
in MW (b)
|
||
Ottumwa Generating Station (Unit 1) (c)
|
|
Ottumwa, IA
|
|
1981
|
|
BL
|
|
348
|
|
|
324
|
|
Lansing Generating Station (Unit 4)
|
|
Lansing, IA
|
|
1977
|
|
BL
|
|
275
|
|
|
235
|
|
Prairie Creek Generating Station (Units 1,3,4) (d)
|
|
Cedar Rapids, IA
|
|
1958-1997
|
|
BL
|
|
213
|
|
|
148
|
|
Burlington Generating Station (Unit 1) (d)
|
|
Burlington, IA
|
|
1968
|
|
BL
|
|
212
|
|
|
197
|
|
George Neal Generating Station (Unit 4) (e)
|
|
Sioux City, IA
|
|
1979
|
|
BL
|
|
179
|
|
|
155
|
|
George Neal Generating Station (Unit 3) (f)
|
|
Sioux City, IA
|
|
1975
|
|
BL
|
|
164
|
|
|
134
|
|
Louisa Generating Station (Unit 1) (g)
|
|
Louisa, IA
|
|
1983
|
|
BL
|
|
32
|
|
|
29
|
|
Total Coal
|
|
|
|
|
|
|
|
1,423
|
|
|
1,222
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Emery Generating Station (Units 1-3)
|
|
Mason City, IA
|
|
2004
|
|
IN
|
|
603
|
|
|
516
|
|
M.L. Kapp Generating Station (Unit 2) (h)
|
|
Clinton, IA
|
|
1967
|
|
IN
|
|
218
|
|
|
94
|
|
Sutherland Generating Station (Units 1,3) (d)
|
|
Marshalltown, IA
|
|
1955-1961
|
|
IN
|
|
119
|
|
|
87
|
|
Fox Lake Generating Station (Units 1,3) (d)
|
|
Sherburn, MN
|
|
1950-1962
|
|
IN
|
|
93
|
|
|
89
|
|
Burlington Combustion Turbines (Units 1-4) (d)
|
|
Burlington, IA
|
|
1994-1996
|
|
PK
|
|
79
|
|
|
52
|
|
Dubuque Generating Station (Units 3-4) (d)
|
|
Dubuque, IA
|
|
1952-1959
|
|
IN
|
|
66
|
|
|
58
|
|
Grinnell Combustion Turbines (Units 1-2) (d)
|
|
Grinnell, IA
|
|
1990-1991
|
|
PK
|
|
48
|
|
|
40
|
|
Red Cedar Combustion Turbine (Unit 1)
|
|
Cedar Rapids, IA
|
|
1996
|
|
PK
|
|
23
|
|
|
6
|
|
Total Gas
|
|
|
|
|
|
|
|
1,249
|
|
|
942
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Marshalltown Combustion Turbines (Units 1-3)
|
|
Marshalltown, IA
|
|
1978
|
|
PK
|
|
189
|
|
|
139
|
|
Lime Creek Combustion Turbines (Units 1-2)
|
|
Mason City, IA
|
|
1991
|
|
PK
|
|
90
|
|
|
69
|
|
Centerville Combustion Turbines (Units 1-2) (d)
|
|
Centerville, IA
|
|
1990
|
|
PK
|
|
54
|
|
|
47
|
|
Diesel Stations (5 Units) (d)
|
|
Iowa
|
|
1963-1966
|
|
PK
|
|
10
|
|
|
5
|
|
Total Oil
|
|
|
|
|
|
|
|
343
|
|
|
260
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Whispering Willow - East (121 Units) (i)
|
|
Franklin Co., IA
|
|
2009
|
|
IN
|
|
200
|
|
|
32
|
|
Total Wind
|
|
|
|
|
|
|
|
200
|
|
|
32
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Total capacity
|
|
|
|
|
|
|
|
3,215
|
|
|
2,456
|
|
(a)
|
Base load EGUs (BL) are designed for nearly continuous operation at or near full capacity to provide the system base load. Intermediate EGUs (IN) follow system load changes with frequent starts and curtailments of output during low demand. Peak load EGUs (PK) are generally low efficiency, quick response units that run primarily when there is high demand.
|
(b)
|
Based on the accredited generating capacity of the EGUs included in MISO’s resource adequacy process for the planning period from
June 2015 through May 2016
.
|
(c)
|
Represents IPL’s 48% ownership interest in this 726 MW (nameplate capacity) / 675 MW (generating capacity) EGU, which is operated by IPL.
|
(d)
|
Refer to “
Strategic Overview
” in MDA for discussion of EGUs that may be retired or changed from coal-fired to an alternative fuel source in the next few years.
|
(e)
|
Represents IPL’s 25.695% ownership interest in this 696 MW (nameplate capacity) / 602 MW (generating capacity) EGU, which is operated by MidAmerican Energy Company.
|
(f)
|
Represents IPL’s 28% ownership interest in this 584 MW (nameplate capacity) / 477 MW (generating capacity) EGU, which is operated by MidAmerican Energy Company.
|
(g)
|
Represents IPL’s 4% ownership interest in this 812 MW (nameplate capacity) / 728 MW (generating capacity) EGU, which is operated by MidAmerican Energy Company.
|
(h)
|
The fuel type at M.L. Kapp Unit 2 was switched from coal to natural gas in 2015.
|
(i)
|
Generating capacity represents 16% of the capacity of this wind farm based upon the MISO resource adequacy process, which is determined separately for each wind farm, during the planning period from
June 2015 through May 2016
.
|
|
|
|
|
|
|
Primary
|
|
Nameplate
|
|
Generating
|
||
|
|
|
|
In-service
|
|
Dispatch
|
|
Capacity
|
|
Capacity
|
||
Name of EGU
|
|
Location
|
|
Dates
|
|
Type (a)
|
|
in MW
|
|
in MW (b)
|
||
Columbia Energy Center (Units 1-2) (c)
|
|
Portage, WI
|
|
1975-1978
|
|
BL
|
|
514
|
|
|
499
|
|
Edgewater Generating Station (Unit 5)
|
|
Sheboygan, WI
|
|
1985
|
|
BL
|
|
414
|
|
|
413
|
|
Edgewater Generating Station (Unit 4) (d) (e)
|
|
Sheboygan, WI
|
|
1969
|
|
BL
|
|
239
|
|
|
204
|
|
Total Coal
|
|
|
|
|
|
|
|
1,167
|
|
|
1,116
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Riverside Energy Center (Units 1-3)
|
|
Beloit, WI
|
|
2004
|
|
IN
|
|
675
|
|
|
539
|
|
Neenah Energy Facility (Units 1-2)
|
|
Neenah, WI
|
|
2000
|
|
PK
|
|
371
|
|
|
275
|
|
South Fond du Lac Combustion Turbines (2 Units) (f)
|
|
Fond du Lac, WI
|
|
1994
|
|
PK
|
|
191
|
|
|
146
|
|
Rock River Combustion Turbines (Units 3-6) (e)
|
|
Beloit, WI
|
|
1967-1972
|
|
PK
|
|
169
|
|
|
108
|
|
Sheepskin Combustion Turbine (Unit 1) (e)
|
|
Edgerton, WI
|
|
1971
|
|
PK
|
|
42
|
|
|
36
|
|
Total Gas
|
|
|
|
|
|
|
|
1,448
|
|
|
1,104
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Bent Tree (122 Units) (g)
|
|
Freeborn Co., MN
|
|
2010-2011
|
|
IN
|
|
201
|
|
|
29
|
|
Cedar Ridge (41 Units) (h)
|
|
Fond du Lac Co., WI
|
|
2008
|
|
IN
|
|
68
|
|
|
8
|
|
Total Wind
|
|
|
|
|
|
|
|
269
|
|
|
37
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Prairie du Sac Hydro Plant (8 Units)
|
|
Prairie du Sac, WI
|
|
1914-1940
|
|
IN
|
|
31
|
|
|
14
|
|
Kilbourn Hydro Plant (4 Units)
|
|
Wisconsin Dells, WI
|
|
1926-1939
|
|
IN
|
|
10
|
|
|
6
|
|
Total Hydro
|
|
|
|
|
|
|
|
41
|
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Total capacity
|
|
|
|
|
|
|
|
2,925
|
|
|
2,277
|
|
(a)
|
BL are designed for nearly continuous operation at or near full capacity to provide the system base load. IN follow system load changes with frequent starts and curtailments of output during low demand. PK are generally low efficiency, quick response units that run primarily when there is high demand.
|
(b)
|
Based on the accredited generating capacity of the EGUs included in MISO’s resource adequacy process for the planning period from
June 2015 through May 2016
.
|
(c)
|
Represents WPL’s 46.2% ownership interest in this 1,112 MW (nameplate capacity) / 1,080 MW (generating capacity) EGU, which is operated by WPL.
|
(d)
|
Represents WPL’s 68.2% ownership interest in this 351 MW (nameplate capacity) / 299 MW (generating capacity) EGU, which is operated by WPL.
|
(e)
|
Refer to “
Strategic Overview
” in MDA for discussion of EGUs that may be retired in the next few years.
|
(f)
|
Represents Units 2 and 3, which WPL owns. WPL also operates South Fond du Lac Combustion Turbines Units 1 and 4.
|
(g)
|
Generating capacity represents 14% of the capacity of this wind farm based upon the MISO resource adequacy process, which is determined separately for each wind farm, during the planning period from
June 2015 through May 2016
.
|
(h)
|
Generating capacity represents 12% of the capacity of this wind farm based upon the MISO resource adequacy process, which is determined separately for each wind farm, during the planning period from
June 2015 through May 2016
.
|
Patricia L. Kampling
|
56
|
Ms. Kampling has served as a director since January 2012, and as Chairman of the Board, President and CEO since April 2012. She previously served as President and Chief Operating Officer since February 2011 and as EVP and CFO from September 2010 to February 2011.
|
James H. Gallegos
|
55
|
Mr. Gallegos has served as Senior VP, General Counsel and Corporate Secretary since February 2015. He previously served as Senior VP and General Counsel since February 2014 and as VP and General Counsel from November 2010 to February 2014.
|
Thomas L. Hanson
|
62
|
Mr. Hanson has served as Senior VP and CFO since January 2013. He previously served as VP and CFO since May 2011, as VP-CFO and Treasurer from February 2011 to May 2011 and as VP-CAO and Treasurer from September 2010 to February 2011.
|
Douglas R. Kopp
|
62
|
Mr. Kopp has served as Senior VP since March 2014. He previously served as VP-Environmental Affairs since January 2013 and as Director-Environmental Affairs from January 2011 to January 2013.
|
John O. Larsen
|
52
|
Mr. Larsen has served as Senior VP since February 2014. He previously served as Senior VP-Generation since January 2010.
|
Wayne A. Reschke
|
60
|
Mr. Reschke has served as Senior VP since February 2016. He previously served as VP since February 2014 and as VP-Human Resources from September 2009 to February 2014.
|
Robert J. Durian
|
45
|
Mr. Durian has served as VP, CAO and Controller since July 2015. He previously served as Controller and CAO since February 2011 and as Controller from September 2010 to February 2011.
|
Patricia L. Kampling
|
56
|
Ms. Kampling has served as a director since January 2012, and as Chairman of the Board and CEO since April 2012.
|
Douglas R. Kopp
|
62
|
Mr. Kopp has served as President since April 2014.
|
James H. Gallegos
|
55
|
Mr. Gallegos has served as Senior VP, General Counsel and Corporate Secretary since February 2015.
|
Thomas L. Hanson
|
62
|
Mr. Hanson has served as Senior VP and CFO since January 2013.
|
John O. Larsen
|
52
|
Mr. Larsen has served as Senior VP since February 2014.
|
Wayne A. Reschke
|
60
|
Mr. Reschke has served as Senior VP since February 2016.
|
Robert J. Durian
|
45
|
Mr. Durian has served as VP, CAO and Controller since July 2015.
|
Patricia L. Kampling
|
56
|
Ms. Kampling has served as a director since January 2012, and as Chairman of the Board and CEO since April 2012.
|
John O. Larsen
|
52
|
Mr. Larsen has served as President since December 2010.
|
James H. Gallegos
|
55
|
Mr. Gallegos has served as Senior VP, General Counsel and Corporate Secretary since February 2015.
|
Thomas L. Hanson
|
62
|
Mr. Hanson has served as Senior VP and CFO since January 2013.
|
Douglas R. Kopp
|
62
|
Mr. Kopp has served as Senior VP since March 2014.
|
Wayne A. Reschke
|
60
|
Mr. Reschke has served as Senior VP since February 2016.
|
Robert J. Durian
|
45
|
Mr. Durian has served as VP, CAO and Controller since July 2015.
|
|
|
2015
|
|
2014
|
||||||||||||||||||||
Quarter
|
|
High
|
|
Low
|
|
Dividend
|
|
High
|
|
Low
|
|
Dividend
|
||||||||||||
First
|
|
|
$70.80
|
|
|
|
$59.92
|
|
|
|
$0.55
|
|
|
|
$56.99
|
|
|
|
$50.00
|
|
|
|
$0.51
|
|
Second
|
|
64.14
|
|
|
57.06
|
|
|
0.55
|
|
|
60.88
|
|
|
55.47
|
|
|
0.51
|
|
||||||
Third
|
|
62.94
|
|
|
54.27
|
|
|
0.55
|
|
|
60.89
|
|
|
54.69
|
|
|
0.51
|
|
||||||
Fourth
|
|
64.25
|
|
|
56.14
|
|
|
0.55
|
|
|
69.78
|
|
|
55.38
|
|
|
0.51
|
|
||||||
Year
|
|
70.80
|
|
|
54.27
|
|
|
2.20
|
|
|
69.78
|
|
|
50.00
|
|
|
2.04
|
|
|
|
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
|
|||
Period
|
|
Purchased (a)
|
|
Share
|
|
Publicly Announced Plan
|
|
Yet Be Purchased Under the Plan (a)
|
|||
October 1 to October 31
|
|
2,345
|
|
|
|
$58.95
|
|
|
—
|
|
N/A
|
November 1 to November 30
|
|
2,043
|
|
|
58.50
|
|
|
—
|
|
N/A
|
|
December 1 to December 31
|
|
58
|
|
|
61.74
|
|
|
—
|
|
N/A
|
|
|
|
4,446
|
|
|
58.78
|
|
|
—
|
|
|
(a)
|
All shares were purchased on the open market and held in a rabbi trust under the DCP. There is no limit on the number of shares of Alliant Energy common stock that may be held under the DCP, which currently does not have an expiration date.
|
Alliant Energy
|
2015 (a)
|
|
2014 (a)
|
|
2013 (a)
|
|
2012
|
|
2011
|
||||||||||
|
(dollars in millions, except per share data)
|
||||||||||||||||||
Income Statement Data:
|
|
||||||||||||||||||
Operating revenues
|
|
$3,253.6
|
|
|
|
$3,350.3
|
|
|
|
$3,276.8
|
|
|
|
$3,094.5
|
|
|
|
$3,221.4
|
|
Income from continuing operations, net of tax
|
390.9
|
|
|
395.7
|
|
|
382.1
|
|
|
340.8
|
|
|
341.4
|
|
|||||
Loss from discontinued operations, net of tax
|
(2.5
|
)
|
|
(2.4
|
)
|
|
(5.9
|
)
|
|
(5.1
|
)
|
|
(19.5
|
)
|
|||||
Net income
|
388.4
|
|
|
393.3
|
|
|
376.2
|
|
|
335.7
|
|
|
321.9
|
|
|||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations, net of tax
|
380.7
|
|
|
385.5
|
|
|
364.2
|
|
|
324.9
|
|
|
323.1
|
|
|||||
Loss from discontinued operations, net of tax
|
(2.5
|
)
|
|
(2.4
|
)
|
|
(5.9
|
)
|
|
(5.1
|
)
|
|
(19.5
|
)
|
|||||
Net income
|
378.2
|
|
|
383.1
|
|
|
358.3
|
|
|
319.8
|
|
|
303.6
|
|
|||||
Common Stock Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted):
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations, net of tax
|
|
$3.38
|
|
|
|
$3.48
|
|
|
|
$3.29
|
|
|
|
$2.93
|
|
|
|
$2.92
|
|
Loss from discontinued operations, net of tax
|
|
($0.02
|
)
|
|
|
($0.02
|
)
|
|
|
($0.06
|
)
|
|
|
($0.04
|
)
|
|
|
($0.18
|
)
|
Net income
|
|
$3.36
|
|
|
|
$3.46
|
|
|
|
$3.23
|
|
|
|
$2.89
|
|
|
|
$2.74
|
|
Common shares outstanding at year-end (000s)
|
113,459
|
|
|
110,936
|
|
|
110,944
|
|
|
110,987
|
|
|
111,019
|
|
|||||
Dividends declared per common share
|
|
$2.20
|
|
|
|
$2.04
|
|
|
|
$1.88
|
|
|
|
$1.80
|
|
|
|
$1.70
|
|
Market value per share at year-end
|
|
$62.45
|
|
|
|
$66.42
|
|
|
|
$51.60
|
|
|
|
$43.91
|
|
|
|
$44.11
|
|
Book value per share at year-end
|
|
$32.82
|
|
|
|
$31.00
|
|
|
|
$29.58
|
|
|
|
$28.25
|
|
|
|
$27.14
|
|
Market capitalization at year-end
|
|
$7,085.5
|
|
|
|
$7,368.4
|
|
|
|
$5,724.7
|
|
|
|
$4,873.4
|
|
|
|
$4,897.0
|
|
Other Selected Financial Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash flows from operating activities
|
|
$871.2
|
|
|
|
$891.6
|
|
|
|
$731.0
|
|
|
|
$841.1
|
|
|
|
$702.7
|
|
Construction and acquisition expenditures
|
|
$1,034.3
|
|
|
|
$902.8
|
|
|
|
$798.3
|
|
|
|
$1,158.1
|
|
|
|
$673.4
|
|
Total assets at year-end (b)
|
|
$12,495.2
|
|
|
|
$12,063.5
|
|
|
|
$11,092.5
|
|
|
|
$10,766.0
|
|
|
|
$9,668.8
|
|
Long-term obligations, net (b)
|
|
$3,837.0
|
|
|
|
$3,768.7
|
|
|
|
$3,318.2
|
|
|
|
$3,122.0
|
|
|
|
$2,688.9
|
|
Times interest earned before income taxes (c)
|
3.47X
|
|
|
3.44X
|
|
|
3.52X
|
|
|
3.75X
|
|
|
3.59X
|
|
|||||
Capitalization ratios:
|
|
|
|
|
|
|
|
|
|
||||||||||
Common equity
|
47
|
%
|
|
45
|
%
|
|
46
|
%
|
|
47
|
%
|
|
50
|
%
|
|||||
Preferred stock of subsidiaries
|
3
|
%
|
|
3
|
%
|
|
3
|
%
|
|
3
|
%
|
|
3
|
%
|
|||||
Long- and short-term debt
|
50
|
%
|
|
52
|
%
|
|
51
|
%
|
|
50
|
%
|
|
47
|
%
|
|||||
Total
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
(a)
|
Refer to “
Results of Operations
” in MDA for discussion of the
2015
,
2014
and
2013
results of operations.
|
(b)
|
In 2015, Alliant Energy adopted a new accounting standard related to the presentation of debt issuance costs on the balance sheet, which was applied retrospectively. As a result, “Total assets at year-end” and “Long-term obligations, net” were revised to conform to the new presentation. The impact to 2013, 2012 and 2011 was not material. Refer to Notes
1(p)
and
1(q)
for further details.
|
(c)
|
Represents the sum of income from continuing operations before income taxes plus interest expense, divided by interest expense.
|
IPL
|
2015 (a)
|
|
2014 (a)
|
|
2013 (a)
|
|
2012
|
|
2011
|
||||||||||
|
(in millions)
|
||||||||||||||||||
Operating revenues
|
|
$1,774.5
|
|
|
|
$1,848.1
|
|
|
|
$1,818.8
|
|
|
|
$1,650.3
|
|
|
|
$1,740.1
|
|
Net income (b)
|
196.2
|
|
|
191.8
|
|
|
188.3
|
|
|
158.3
|
|
|
139.3
|
|
|||||
Earnings available for common stock (b)
|
186.0
|
|
|
181.6
|
|
|
172.0
|
|
|
145.7
|
|
|
124.3
|
|
|||||
Cash dividends declared on common stock
|
140.0
|
|
|
140.0
|
|
|
128.1
|
|
|
122.9
|
|
|
73.4
|
|
|||||
Cash flows from operating activities
|
385.0
|
|
|
406.1
|
|
|
232.6
|
|
|
291.0
|
|
|
366.9
|
|
|||||
Total assets (b)
|
6,709.1
|
|
|
6,450.2
|
|
|
5,793.9
|
|
|
5,446.8
|
|
|
5,084.1
|
|
|||||
Long-term obligations, net (b)
|
1,857.4
|
|
|
1,758.6
|
|
|
1,549.5
|
|
|
1,353.7
|
|
|
1,302.0
|
|
(a)
|
Refer to “
Results of Operations
” in MDA for a discussion of the
2015
,
2014
and
2013
results of operations.
|
(b)
|
In 2015, IPL adopted a new accounting standard related to the presentation of debt issuance costs on the balance sheet, as well as applied a change in method of recording income taxes, which were applied retrospectively. As a result, “Net income,” “Earnings available for common stock,” “Total assets,” and “Long-term obligations, net” were revised to conform to the new presentation. The impact to 2013, 2012 and 2011 was not material. Refer to Notes
1(c)
,
1(p)
and
1(q)
for further details.
|
WPL
|
2015 (a)
|
|
2014 (a)
|
|
2013 (a)
|
|
2012
|
|
2011
|
||||||||||
|
(in millions)
|
||||||||||||||||||
Operating revenues
|
|
$1,435.1
|
|
|
|
$1,449.1
|
|
|
|
$1,406.3
|
|
|
|
$1,392.0
|
|
|
|
$1,434.4
|
|
Net income (b)
|
177.6
|
|
|
181.1
|
|
|
179.1
|
|
|
172.7
|
|
|
163.5
|
|
|||||
Earnings available for common stock (b)
|
176.3
|
|
|
180.4
|
|
|
177.5
|
|
|
169.4
|
|
|
160.2
|
|
|||||
Cash dividends declared on common stock
|
126.9
|
|
|
118.7
|
|
|
116.3
|
|
|
112.0
|
|
|
112.1
|
|
|||||
Cash flows from operating activities
|
449.8
|
|
|
424.4
|
|
|
423.3
|
|
|
427.4
|
|
|
428.8
|
|
|||||
Total assets (b)
|
5,270.4
|
|
|
5,117.6
|
|
|
4,796.2
|
|
|
4,754.4
|
|
|
4,035.8
|
|
|||||
Long-term obligations, net (b)
|
1,624.2
|
|
|
1,658.3
|
|
|
1,423.2
|
|
|
1,426.3
|
|
|
1,182.3
|
|
(a)
|
Refer to “
Results of Operations
” in MDA for a discussion of the
2015
,
2014
and
2013
results of operations.
|
(b)
|
In 2015, WPL adopted a new accounting standard related to the presentation of debt issuance costs on the balance sheet, as well as applied a change in method of recording income taxes, which were applied retrospectively. As a result, “Net income,” “Earnings available for common stock,” “Total assets,” and “Long-term obligations, net” were revised to conform to the new presentation. The impact to 2013, 2012 and 2011 was not material. Refer to Notes
1(c)
,
1(p)
and
1(q)
for further details.
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
•
|
|
2015
|
|
2014
|
||||||||||||
|
Income (Loss)
|
|
EPS
|
|
Income (Loss)
|
|
EPS
|
||||||||
Continuing operations:
|
|
|
|
|
|
|
|
||||||||
Utilities, ATC and Corporate Services
|
|
$374.5
|
|
|
|
$3.32
|
|
|
|
$371.4
|
|
|
|
$3.35
|
|
Non-regulated and Parent
|
6.2
|
|
|
0.06
|
|
|
14.1
|
|
|
0.13
|
|
||||
Income from continuing operations
|
380.7
|
|
|
3.38
|
|
|
385.5
|
|
|
3.48
|
|
||||
Loss from discontinued operations
|
(2.5
|
)
|
|
(0.02
|
)
|
|
(2.4
|
)
|
|
(0.02
|
)
|
||||
Net income
|
|
$378.2
|
|
|
|
$3.36
|
|
|
|
$383.1
|
|
|
|
$3.46
|
|
•
|
WPL’s Proposed Riverside Expansion -
WPL filed a CPCN application with the PSCW for approval to construct the Riverside expansion, a natural gas-fired combined-cycle EGU in Beloit, Wisconsin. Capital expenditures, excluding AFUDC, are currently estimated to be approximately
$700 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 the second quarter of 2016. Refer to “
Strategic Overview
” for discussion of a settlement agreement WPL entered into with other Wisconsin utilities and certain electric cooperatives regarding its proposed Riverside expansion CPCN application.
|
•
|
Sales of IPL’s Minnesota Electric and Natural Gas Distribution Assets -
In 2015, IPL completed the sales of its Minnesota electric and natural gas distribution assets and received proceeds of
$140 million
. The proceeds from the natural gas distribution assets were used for general corporate purposes and the proceeds from the electric distribution assets were used to reduce cash amounts received from IPL’s sales of accounts receivable program.
|
•
|
MISO Transmission Owner Return on Equity Complaints -
Complaints are currently pending with FERC regarding the level of return on equity that MISO transmission owners, including ITC and ATC, should be allowed to utilize in calculating the rates they charge their customers. Alliant Energy, IPL and WPL currently anticipate FERC’s decision on the MISO transmission owner complaints will reduce transmission owners’ current return on equity, which is expected to result in lower electric transmission service expense billed to IPL and WPL thereby reducing customer costs, and lower equity income and dividends from ATC in the future. In 2014, FERC issued an order on the complaints establishing an effective refund date of November 12, 2013. Alliant Energy and WPL have realized
$15 million
of reductions in the amount of equity income from ATC for the period from November 12, 2013 through
December 31, 2015
, including
$12 million
realized in 2015 and
$3 million
realized in 2014.
|
•
|
At-the-Market Offering Program -
In 2015, Alliant Energy issued
2,186,617
shares of common stock through an at-the-market offering program and received cash proceeds of
$133 million
, net of
$2 million
in fees and commissions. The proceeds from the issuances of common stock were used for general corporate purposes.
|
•
|
Customer Billing and Information System -
Corporate Services placed in service a new customer billing and information system for IPL and WPL in 2015, which houses all customer records, and processes metering, billing and payment transactions.
|
•
|
Protecting Americans from Tax Hikes Act -
In December 2015, the PATH Act was enacted. The most significant provisions of the PATH Act for Alliant Energy, IPL and WPL relate to the extension of bonus depreciation deductions for certain capital expenditures for property incurred through December 31, 2019 and placed in service prior to December 31, 2020, as well as incentives for individuals and businesses to construct renewable generation. Refer to “
Rate Matters
” for further discussion.
|
•
|
Clean Power Plan -
In 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 CO2 emissions from existing fossil-fueled EGUs. In February 2016, the Supreme Court issued a stay of these final standards until pending legal challenges are resolved, which places implementation of these final standards on hold indefinitely. In 2015, the EPA also published final standards under Section 111(b) of the CAA, which establish CO2 emissions limits for certain new fossil-fueled EGUs. Refer to “
Environmental Matters
” for further discussion.
|
•
|
Planned Utility Rate Cases -
WPL currently expects to make a retail electric and gas base rate filing for the 2017/2018 Test Period in the second quarter of 2016. WPL currently expects to make a retail fuel-related rate filing (2017 Test Year) in the second quarter of 2016.
IPL currently expects to make separate retail electric and gas rate filings in the first half of 2017 based on a 2016 historical Test Year. Refer to “
Rate Matters
” for further discussion.
|
•
|
Financing Plans -
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, Alliant Energy, in 2016. IPL currently expects to issue up to $300 million of long-term debt in 2016. The Alliant Energy parent company and Resources currently expect to issue up to approximately $400 million of long-term debt in aggregate, primarily to refinance Alliant Energy’s $250 million and Franklin County Holdings LLC’s $60 million variable-rate term loan credit agreements expiring in 2016.
|
•
|
Common Stock Dividends -
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 Alliant Energy’s 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.
|
•
|
Utility Electric Margins -
Alliant Energy, IPL and WPL are currently expecting a modest increase in temperature-normalized retail electric sales in 2016 compared to 2015. IPL currently expects to reduce the amount of billing credits on its Iowa retail electric customers’ bills in 2016 compared to 2015 related to the approved settlement agreement for IPL’s Iowa retail electric rates.
|
•
|
Electric Transmission Service Expense -
Alliant Energy currently expects an increase in future electric transmission service expense in 2016 compared to 2015 due to higher Attachment “O” rates charged by ITC and ATC, as well as higher MISO transmission charges billed to IPL and WPL due to the number of shared transmission projects expected to be completed in the MISO region.
|
•
|
Other Operation and Maintenance Expenses
- Alliant Energy and WPL currently expect decreases in energy efficiency cost recovery amortizations at WPL in 2016 compared to 2015 as approved by the PSCW in a July 2014 order. Partially offsetting this expected decrease, Alliant Energy, IPL and WPL currently expect an increase in retirement plan costs in 2016 compared to 2015, resulting from lower than expected returns on retirement plan assets in 2015.
|
•
|
Depreciation and Amortization Expenses
- Alliant Energy currently expects its depreciation and amortization expenses to increase in 2016 compared to 2015 due to property additions, including various environmental controls projects at IPL and WPL placed in service in 2015 and expected to be placed in service in 2016.
|
•
|
Interest Expense
- Alliant Energy currently expects its interest expense to increase in 2016 compared to 2015 due to financings in 2015 and 2016 discussed above.
|
•
|
AFUDC -
Alliant Energy currently expects AFUDC to increase in 2016 compared to 2015 primarily due to increased CWIP balances related to Marshalltown.
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
|||||||||||||||||||||||||
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|||||||||
Residential (c)
|
|
$983.0
|
|
|
|
$994.5
|
|
|
(1%)
|
|
|
$1,009.1
|
|
|
(1%)
|
|
7,271
|
|
|
7,697
|
|
|
(6%)
|
|
7,824
|
|
|
(2%)
|
Commercial (c)
|
667.8
|
|
|
658.0
|
|
|
1%
|
|
649.4
|
|
|
1%
|
|
6,374
|
|
|
6,449
|
|
|
(1%)
|
|
6,432
|
|
|
—%
|
|||
Industrial (c)
|
823.3
|
|
|
799.0
|
|
|
3%
|
|
765.4
|
|
|
4%
|
|
11,735
|
|
|
11,821
|
|
|
(1%)
|
|
11,471
|
|
|
3%
|
|||
Retail subtotal (c)
|
2,474.1
|
|
|
2,451.5
|
|
|
1%
|
|
2,423.9
|
|
|
1%
|
|
25,380
|
|
|
25,967
|
|
|
(2%)
|
|
25,727
|
|
|
1%
|
|||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Wholesale (c)
|
221.0
|
|
|
206.6
|
|
|
7%
|
|
195.4
|
|
|
6%
|
|
3,614
|
|
|
3,586
|
|
|
1%
|
|
3,564
|
|
|
1%
|
|||
Bulk power and other
|
28.5
|
|
|
2.9
|
|
|
883%
|
|
17.7
|
|
|
(84%)
|
|
1,228
|
|
|
335
|
|
|
267%
|
|
763
|
|
|
(56%)
|
|||
Other
|
46.9
|
|
|
52.6
|
|
|
(11%)
|
|
52.0
|
|
|
1%
|
|
129
|
|
|
155
|
|
|
(17%)
|
|
152
|
|
|
2%
|
|||
Total revenues/sales
|
2,770.5
|
|
|
2,713.6
|
|
|
2%
|
|
2,689.0
|
|
|
1%
|
|
30,351
|
|
|
30,043
|
|
|
1%
|
|
30,206
|
|
|
(1%)
|
|||
Electric production fuel expense
|
463.6
|
|
|
443.9
|
|
|
4%
|
|
431.0
|
|
|
3%
|
|
|
|
|
|
|
|
|
|
|
||||||
Energy purchases expense
|
372.3
|
|
|
408.2
|
|
|
(9%)
|
|
294.0
|
|
|
39%
|
|
|
|
|
|
|
|
|
|
|
||||||
Purchased electric capacity expense
|
1.8
|
|
|
25.1
|
|
|
(93%)
|
|
216.8
|
|
|
(88%)
|
|
|
|
|
|
|
|
|
|
|
||||||
Margins (d)
|
|
$1,932.8
|
|
|
|
$1,836.4
|
|
|
5%
|
|
|
$1,747.2
|
|
|
5%
|
|
|
|
|
|
|
|
|
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
|||||||||||||||||||||||||
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|||||||||
Residential (c)
|
|
$540.3
|
|
|
|
$556.4
|
|
|
(3%)
|
|
|
$574.3
|
|
|
(3%)
|
|
3,843
|
|
|
4,164
|
|
|
(8%)
|
|
4,272
|
|
|
(3%)
|
Commercial (c)
|
416.3
|
|
|
410.2
|
|
|
1%
|
|
409.6
|
|
|
—%
|
|
4,059
|
|
|
4,099
|
|
|
(1%)
|
|
4,118
|
|
|
—%
|
|||
Industrial (c)
|
453.6
|
|
|
458.5
|
|
|
(1%)
|
|
442.9
|
|
|
4%
|
|
6,922
|
|
|
7,132
|
|
|
(3%)
|
|
6,973
|
|
|
2%
|
|||
Retail subtotal (c)
|
1,410.2
|
|
|
1,425.1
|
|
|
(1%)
|
|
1,426.8
|
|
|
—%
|
|
14,824
|
|
|
15,395
|
|
|
(4%)
|
|
15,363
|
|
|
—%
|
|||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Wholesale (c)
|
56.4
|
|
|
32.2
|
|
|
75%
|
|
30.0
|
|
|
7%
|
|
845
|
|
|
485
|
|
|
74%
|
|
419
|
|
|
16%
|
|||
Bulk power and other
|
5.1
|
|
|
2.1
|
|
|
143%
|
|
2.0
|
|
|
5%
|
|
178
|
|
|
59
|
|
|
202%
|
|
98
|
|
|
(40%)
|
|||
Other
|
32.1
|
|
|
33.9
|
|
|
(5%)
|
|
33.0
|
|
|
3%
|
|
67
|
|
|
81
|
|
|
(17%)
|
|
80
|
|
|
1%
|
|||
Total revenues/sales
|
1,503.8
|
|
|
1,493.3
|
|
|
1%
|
|
1,491.8
|
|
|
—%
|
|
15,914
|
|
|
16,020
|
|
|
(1%)
|
|
15,960
|
|
|
—%
|
|||
Electric production fuel expense
|
194.5
|
|
|
231.5
|
|
|
(16%)
|
|
193.9
|
|
|
19%
|
|
|
|
|
|
|
|
|
|
|
||||||
Energy purchases expense
|
233.6
|
|
|
240.8
|
|
|
(3%)
|
|
188.2
|
|
|
28%
|
|
|
|
|
|
|
|
|
|
|
||||||
Purchased electric capacity expense
|
0.3
|
|
|
25.0
|
|
|
(99%)
|
|
155.2
|
|
|
(84%)
|
|
|
|
|
|
|
|
|
|
|
||||||
Margins (d)
|
|
$1,075.4
|
|
|
|
$996.0
|
|
|
8%
|
|
|
$954.5
|
|
|
4%
|
|
|
|
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
|||||||||||||||||||||||
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|||||||
Residential
|
|
$442.7
|
|
|
$438.1
|
|
1%
|
|
$434.8
|
|
1%
|
|
3,428
|
|
|
3,533
|
|
|
(3%)
|
|
3,552
|
|
|
(1%)
|
||
Commercial
|
251.5
|
|
|
247.8
|
|
|
1%
|
|
239.8
|
|
|
3%
|
|
2,315
|
|
|
2,350
|
|
|
(1%)
|
|
2,314
|
|
|
2%
|
|
Industrial
|
369.7
|
|
|
340.5
|
|
|
9%
|
|
322.5
|
|
|
6%
|
|
4,813
|
|
|
4,689
|
|
|
3%
|
|
4,498
|
|
|
4%
|
|
Retail subtotal
|
1,063.9
|
|
|
1,026.4
|
|
|
4%
|
|
997.1
|
|
|
3%
|
|
10,556
|
|
|
10,572
|
|
|
—%
|
|
10,364
|
|
|
2%
|
|
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Wholesale
|
164.6
|
|
|
174.4
|
|
|
(6%)
|
|
165.4
|
|
|
5%
|
|
2,769
|
|
|
3,101
|
|
|
(11%)
|
|
3,145
|
|
|
(1%)
|
|
Bulk power and other
|
23.4
|
|
|
0.8
|
|
|
2,825%
|
|
15.7
|
|
|
(95%)
|
|
1,050
|
|
|
276
|
|
|
280%
|
|
665
|
|
|
(58%)
|
|
Other
|
14.8
|
|
|
18.7
|
|
|
(21%)
|
|
19.0
|
|
|
(2%)
|
|
62
|
|
|
74
|
|
|
(16%)
|
|
72
|
|
|
3%
|
|
Total revenues/sales
|
1,266.7
|
|
|
1,220.3
|
|
|
4%
|
|
1,197.2
|
|
|
2%
|
|
14,437
|
|
|
14,023
|
|
|
3%
|
|
14,246
|
|
|
(2%)
|
|
Electric production fuel expense
|
269.1
|
|
|
212.4
|
|
|
27%
|
|
237.1
|
|
|
(10%)
|
|
|
|
|
|
|
|
|
|
|
||||
Energy purchases expense
|
138.7
|
|
|
167.4
|
|
|
(17%)
|
|
105.8
|
|
|
58%
|
|
|
|
|
|
|
|
|
|
|
||||
Purchased electric capacity expense
|
1.5
|
|
|
0.1
|
|
|
1,400%
|
|
61.6
|
|
|
(100%)
|
|
|
|
|
|
|
|
|
|
|
||||
Margins
|
$857.4
|
|
$840.4
|
|
2%
|
|
$792.7
|
|
6%
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Reflects the % change from
2014
to
2015
. (b) Reflects the % change from
2013
to
2014
.
|
(c)
|
In July 2015, IPL sold its electric distribution assets in Minnesota to Southern Minnesota Energy Cooperative. Prior to the asset sale, the related electric sales are included in residential, commercial and industrial retail sales. Subsequent to the asset sale, the related electric sales are included in wholesale electric sales pursuant to a wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative.
|
(d)
|
Includes $72 million, $85 million and $79 million of credits on IPL’s Iowa retail electric customers’ bills for
2015
,
2014
and
2013
, respectively, resulting from the electric tax benefit rider. The electric tax benefit rider resulted in reductions in electric revenues that were offset by reductions in income tax expense for
2015
,
2014
and
2013
.
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower retail electric customer billing credits in 2015 at IPL (a)
|
|
$48
|
|
|
|
$48
|
|
|
|
$—
|
|
Purchased electric capacity expense at IPL in 2014 related to the previous DAEC PPA, which ended in February 2014
|
25
|
|
|
25
|
|
|
—
|
|
|||
Higher revenues at IPL in 2015 due to lower credits on Iowa retail electric customers’ bills resulting from the electric tax benefit rider (Refer to
Note 2
for further details)
|
13
|
|
|
13
|
|
|
—
|
|
|||
Changes in electric fuel-related costs, net of recoveries at WPL
|
11
|
|
|
—
|
|
|
11
|
|
|||
Higher revenues at WPL from the impact of increased sales volumes approved in its retail electric base rate case for 2015 (b)
|
9
|
|
|
—
|
|
|
9
|
|
|||
Estimated changes in sales caused by temperatures
|
(19
|
)
|
|
(10
|
)
|
|
(9
|
)
|
|||
Other (c)
|
9
|
|
|
3
|
|
|
6
|
|
|||
|
|
$96
|
|
|
|
$79
|
|
|
|
$17
|
|
2014 vs. 2013 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower purchased electric capacity expense at IPL related to the previous DAEC PPA, which ended in February 2014
|
|
$129
|
|
|
|
$129
|
|
|
|
$—
|
|
Purchased electric capacity expense at WPL in 2013 related to the Kewaunee PPA, which ended in December 2013
|
61
|
|
|
—
|
|
|
61
|
|
|||
Higher revenues at IPL related to changes in recovery amounts for transmission costs through the transmission rider (d)
|
18
|
|
|
18
|
|
|
—
|
|
|||
Retail electric customer billing credits at IPL (a)
|
(72
|
)
|
|
(72
|
)
|
|
—
|
|
|||
Estimated changes in sales caused by temperatures
|
(17
|
)
|
|
(13
|
)
|
|
(4
|
)
|
|||
Lower wholesale margins (e)
|
(11
|
)
|
|
(4
|
)
|
|
(7
|
)
|
|||
Changes in electric fuel-related costs, net of recoveries at WPL
|
(9
|
)
|
|
—
|
|
|
(9
|
)
|
|||
Changes in revenue requirement adjustment related to certain tax benefits from tax accounting method changes at IPL (Refer to
Note 2
for further details)
|
(9
|
)
|
|
(9
|
)
|
|
—
|
|
|||
Lower 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)
|
(6
|
)
|
|
(6
|
)
|
|
—
|
|
|||
Other (c)
|
5
|
|
|
(1
|
)
|
|
7
|
|
|||
|
|
$89
|
|
|
|
$42
|
|
|
|
$48
|
|
(a)
|
Refer to
Note 2
for further discussion of billing credits that began in 2014 related to the approved settlement agreement for IPL’s Iowa retail electric rates.
|
(b)
|
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.
|
(c)
|
Includes increases in temperature-normalized retail sales volumes at WPL in 2015 and 2014. Refer to “Sales Trends” below for more information.
|
(d)
|
Higher transmission rider revenues were offset by higher electric transmission service expense.
|
(e)
|
Primarily due to lower nuclear capacity costs in 2014, which are included in the rates charged to wholesale customers.
|
|
2015
|
|
2014
|
|
2013
|
||||||
IPL
|
|
($7
|
)
|
|
|
$3
|
|
|
|
$16
|
|
WPL
|
(4
|
)
|
|
5
|
|
|
9
|
|
|||
Total Alliant Energy
|
|
($11
|
)
|
|
|
$8
|
|
|
|
$25
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
DAEC PPA (IPL)
|
|
$—
|
|
|
|
$25
|
|
|
|
$154
|
|
Kewaunee PPA (WPL)
|
—
|
|
|
—
|
|
|
61
|
|
|||
Other
|
2
|
|
|
—
|
|
|
2
|
|
|||
|
|
$2
|
|
|
|
$25
|
|
|
|
$217
|
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
|||||||||||||||||||||||||
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|||||||||
Residential
|
|
$215.1
|
|
|
|
$287.5
|
|
|
(25%)
|
|
|
$262.5
|
|
|
10%
|
|
26,672
|
|
|
31,718
|
|
|
(16%)
|
|
29,916
|
|
|
6%
|
Commercial
|
120.5
|
|
|
172.8
|
|
|
(30%)
|
|
150.3
|
|
|
15%
|
|
18,966
|
|
|
23,301
|
|
|
(19%)
|
|
21,892
|
|
|
6%
|
|||
Industrial
|
14.3
|
|
|
23.4
|
|
|
(39%)
|
|
21.1
|
|
|
11%
|
|
2,997
|
|
|
3,710
|
|
|
(19%)
|
|
3,803
|
|
|
(2%)
|
|||
Retail subtotal
|
349.9
|
|
|
483.7
|
|
|
(28%)
|
|
433.9
|
|
|
11%
|
|
48,635
|
|
|
58,729
|
|
|
(17%)
|
|
55,611
|
|
|
6%
|
|||
Transportation/other
|
31.3
|
|
|
33.8
|
|
|
(7%)
|
|
30.9
|
|
|
9%
|
|
74,162
|
|
|
64,717
|
|
|
15%
|
|
60,261
|
|
|
7%
|
|||
Total revenues/sales
|
381.2
|
|
|
517.5
|
|
|
(26%)
|
|
464.8
|
|
|
11%
|
|
122,797
|
|
|
123,446
|
|
|
(1%)
|
|
115,872
|
|
|
7%
|
|||
Cost of gas sold
|
219.1
|
|
|
327.8
|
|
|
(33%)
|
|
276.7
|
|
|
18%
|
|
|
|
|
|
|
|
|
|
|
||||||
Margins (c)
|
|
$162.1
|
|
|
|
$189.7
|
|
|
(15%)
|
|
|
$188.1
|
|
|
1%
|
|
|
|
|
|
|
|
|
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
|||||||||||||||||||||||||
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|||||||||
Residential
|
|
$120.0
|
|
|
|
$162.5
|
|
|
(26%)
|
|
|
$152.8
|
|
|
6%
|
|
14,472
|
|
|
17,839
|
|
|
(19%)
|
|
16,975
|
|
|
5%
|
Commercial
|
67.9
|
|
|
96.1
|
|
|
(29%)
|
|
85.7
|
|
|
12%
|
|
10,166
|
|
|
12,641
|
|
|
(20%)
|
|
12,051
|
|
|
5%
|
|||
Industrial
|
10.5
|
|
|
17.4
|
|
|
(40%)
|
|
16.1
|
|
|
8%
|
|
2,239
|
|
|
2,804
|
|
|
(20%)
|
|
2,931
|
|
|
(4%)
|
|||
Retail subtotal
|
198.4
|
|
|
276.0
|
|
|
(28%)
|
|
254.6
|
|
|
8%
|
|
26,877
|
|
|
33,284
|
|
|
(19%)
|
|
31,957
|
|
|
4%
|
|||
Transportation/other
|
18.9
|
|
|
20.5
|
|
|
(8%)
|
|
19.3
|
|
|
6%
|
|
34,129
|
|
|
31,377
|
|
|
9%
|
|
32,019
|
|
|
(2%)
|
|||
Total revenues/sales
|
217.3
|
|
|
296.5
|
|
|
(27%)
|
|
273.9
|
|
|
8%
|
|
61,006
|
|
|
64,661
|
|
|
(6%)
|
|
63,976
|
|
|
1%
|
|||
Cost of gas sold
|
123.3
|
|
|
185.5
|
|
|
(34%)
|
|
160.3
|
|
|
16%
|
|
|
|
|
|
|
|
|
|
|
||||||
Margins (c)
|
|
$94.0
|
|
|
|
$111.0
|
|
|
(15%)
|
|
|
$113.6
|
|
|
(2%)
|
|
|
|
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
|||||||||||||||||||||||||
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|
2015
|
|
2014
|
|
(a)
|
|
2013
|
|
(b)
|
|||||||||
Residential
|
|
$95.1
|
|
|
|
$125.0
|
|
|
(24%)
|
|
|
$109.7
|
|
|
14%
|
|
12,200
|
|
|
13,879
|
|
|
(12%)
|
|
12,941
|
|
|
7%
|
Commercial
|
52.6
|
|
|
76.7
|
|
|
(31%)
|
|
64.6
|
|
|
19%
|
|
8,800
|
|
|
10,660
|
|
|
(17%)
|
|
9,841
|
|
|
8%
|
|||
Industrial
|
3.8
|
|
|
6.0
|
|
|
(37%)
|
|
5.0
|
|
|
20%
|
|
758
|
|
|
906
|
|
|
(16%)
|
|
872
|
|
|
4%
|
|||
Retail subtotal
|
151.5
|
|
|
207.7
|
|
|
(27%)
|
|
179.3
|
|
|
16%
|
|
21,758
|
|
|
25,445
|
|
|
(14%)
|
|
23,654
|
|
|
8%
|
|||
Transportation/other
|
12.4
|
|
|
13.3
|
|
|
(7%)
|
|
11.6
|
|
|
15%
|
|
40,033
|
|
|
33,340
|
|
|
20%
|
|
28,242
|
|
|
18%
|
|||
Total revenues/sales
|
163.9
|
|
|
221.0
|
|
|
(26%)
|
|
190.9
|
|
|
16%
|
|
61,791
|
|
|
58,785
|
|
|
5%
|
|
51,896
|
|
|
13%
|
|||
Cost of gas sold
|
95.8
|
|
|
142.3
|
|
|
(33%)
|
|
116.4
|
|
|
22%
|
|
|
|
|
|
|
|
|
|
|
||||||
Margins
|
|
$68.1
|
|
|
|
$78.7
|
|
|
(13%)
|
|
|
$74.5
|
|
|
6%
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Reflects the % change from
2014
to
2015
. (b) Reflects the % change from
2013
to
2014
.
|
(c)
|
Includes $12 million, $12 million and $11 million of credits on IPL’s Iowa retail gas customers’ bills for
2015
,
2014
and
2013
, respectively, resulting from the gas tax benefit rider. The gas tax benefit rider resulted in reductions in gas revenues that were offset by reductions in income tax expense for
2015
,
2014
and
2013
.
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Estimated decrease from changes in sales caused by temperatures
|
|
($14
|
)
|
|
|
($7
|
)
|
|
|
($7
|
)
|
Lower revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (a)
|
(9
|
)
|
|
(9
|
)
|
|
—
|
|
|||
Lower revenues at WPL due to the impact of changes in retail gas base rates effective January 2015
|
(4
|
)
|
|
—
|
|
|
(4
|
)
|
|||
Other
|
(1
|
)
|
|
(1
|
)
|
|
—
|
|
|||
|
|
($28
|
)
|
|
|
($17
|
)
|
|
|
($11
|
)
|
2014 vs. 2013 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Estimated increase from changes in sales caused by temperatures
|
|
$4
|
|
|
|
$2
|
|
|
|
$2
|
|
Lower revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (a)
|
(4
|
)
|
|
(4
|
)
|
|
—
|
|
|||
Other
|
2
|
|
|
(1
|
)
|
|
2
|
|
|||
|
|
$2
|
|
|
|
($3
|
)
|
|
|
$4
|
|
(a)
|
Changes in energy efficiency revenues were mostly offset by changes in energy efficiency expense included in other operation and maintenance expenses.
|
|
2015
|
|
2014
|
|
2013
|
||||||
IPL
|
|
($2
|
)
|
|
|
$5
|
|
|
|
$3
|
|
WPL
|
(2
|
)
|
|
5
|
|
|
3
|
|
|||
Total Alliant Energy
|
|
($4
|
)
|
|
|
$10
|
|
|
|
$6
|
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower margins from IPL’s sharing mechanism related to optimizing gas capacity contracts (a)
|
|
($5
|
)
|
|
|
($5
|
)
|
|
|
$—
|
|
Other
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
|||
|
|
($8
|
)
|
|
|
($5
|
)
|
|
|
($3
|
)
|
2014 vs. 2013 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower coal sales at WPL (b)
|
|
($7
|
)
|
|
|
$—
|
|
|
|
($7
|
)
|
Higher margins from IPL’s sharing mechanism related to optimizing gas capacity contracts (a)
|
4
|
|
|
4
|
|
|
—
|
|
|||
Other
|
(2
|
)
|
|
1
|
|
|
(3
|
)
|
|||
|
|
($5
|
)
|
|
|
$5
|
|
|
|
($10
|
)
|
(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 in 2014.
|
(b)
|
Changes in utility other revenues related to coal sales were largely offset by changes in utility other operation and maintenance expenses related to coal sales.
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher electric transmission service costs billed from ITC, ATC and MISO (a)
|
|
$18
|
|
|
|
$6
|
|
|
|
$12
|
|
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)
|
21
|
|
|
—
|
|
|
21
|
|
|||
Other
|
(1
|
)
|
|
(1
|
)
|
|
—
|
|
|||
|
|
$38
|
|
|
|
$5
|
|
|
|
$33
|
|
2014 vs. 2013 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher electric transmission service costs billed from ITC, ATC and MISO (a)
|
|
$38
|
|
|
|
$33
|
|
|
|
$5
|
|
Changes in the under-/over-collection of electric transmission service expense through the transmission cost rider at IPL (b)
|
(11
|
)
|
|
(11
|
)
|
|
—
|
|
|||
Other
|
2
|
|
|
—
|
|
|
2
|
|
|||
|
|
$29
|
|
|
|
$22
|
|
|
|
$7
|
|
(a)
|
Primarily due to increased electric transmission service rates.
|
(b)
|
IPL is currently recovering the Iowa retail portion of its increased electric transmission service costs from its retail electric customers in Iowa through a transmission cost rider approved by the IUB in January 2011 and extended as part of the rate settlement approved in September 2014. The difference between electric transmission services expense and amounts collected from customers as electric revenues results in temporary costs (credits) recorded in electric transmission service expense until the amounts are reflected in future customer billings.
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower energy efficiency cost recovery amortizations at WPL (a)
|
|
($38
|
)
|
|
|
$—
|
|
|
|
($38
|
)
|
Lower generation expense (b)
|
(13
|
)
|
|
(2
|
)
|
|
(11
|
)
|
|||
Changes in energy efficiency expense at IPL (c)
|
(5
|
)
|
|
(5
|
)
|
|
—
|
|
|||
Losses on sales of IPL’s Minnesota distribution assets recorded in 2015 (Refer to
Note 3
for further details)
|
14
|
|
|
14
|
|
|
—
|
|
|||
Higher employee benefits-related expense (d)
|
14
|
|
|
7
|
|
|
7
|
|
|||
Voluntary employee separation charges recorded in 2015 (Refer to
Note 12(a)
for further details)
|
8
|
|
|
5
|
|
|
3
|
|
|||
Other (includes lower costs due to cost controls and operational efficiencies)
|
(16
|
)
|
|
(10
|
)
|
|
(3
|
)
|
|||
|
|
($36
|
)
|
|
|
$9
|
|
|
|
($42
|
)
|
2014 vs. 2013 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher energy efficiency cost recovery amortizations at WPL (a)
|
|
$20
|
|
|
|
$—
|
|
|
|
$20
|
|
Regulatory-related credit at IPL recorded in 2013 (e)
|
7
|
|
|
7
|
|
|
—
|
|
|||
Higher generation expense (b)
|
7
|
|
|
4
|
|
|
3
|
|
|||
Higher customer service expense (f)
|
6
|
|
|
4
|
|
|
2
|
|
|||
Lower employee benefits-related expense (g)
|
(8
|
)
|
|
(5
|
)
|
|
(3
|
)
|
|||
Lower expense related to coal sales at WPL (h)
|
(7
|
)
|
|
—
|
|
|
(7
|
)
|
|||
Other (includes increases in other administrative and general and distribution system expenses)
|
4
|
|
|
9
|
|
|
4
|
|
|||
|
|
$29
|
|
|
|
$19
|
|
|
|
$19
|
|
(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. The July 2012 PSCW order for WPL’s 2013/2014 Test Period electric and gas base rate case authorized changes in energy efficiency cost recovery amortizations for 2013 and 2014. Regulatory amortizations at WPL related to energy efficiency costs were $4 million, $42 million and $22 million in 2015, 2014 and 2013, respectively.
|
(b)
|
Primarily due to the timing and extent 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 life expectancy assumptions in 2014.
|
(e)
|
In 2013, IPL received an order from the MPUC approving full cost recovery of the Minnesota retail portion of IPL’s Whispering Willow - East wind farm construction costs effective January 1, 2013. As a result, Alliant Energy and IPL reversed a prior reserve and recognized a $7 million regulatory-related credit in 2013.
|
(f)
|
Primarily due to increased customer billing and customer assistance-related expenses.
|
(g)
|
Primarily due to a decrease in retirement plan costs, partially offset by an increase in other employee benefits-related costs and the reversal of a previously recorded reserve related to the Cash Balance Plan in 2013.
|
(h)
|
Changes in expense related to coal sales at WPL were largely offset by changes in coal sales revenue at WPL.
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher depreciation expense for IPL’s Ottumwa Unit 1 scrubber and baghouse placed in service in 2014
|
|
$5
|
|
|
|
$5
|
|
|
|
$—
|
|
Other (includes the impact of other property additions)
|
8
|
|
|
5
|
|
|
3
|
|
|||
|
|
$13
|
|
|
|
$10
|
|
|
|
$3
|
|
2014 vs. 2013 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher depreciation expense for WPL’s Columbia Units 1 and 2 scrubbers and baghouses placed in service in 2014
|
|
$4
|
|
|
|
$—
|
|
|
|
$4
|
|
Other (includes the impact of other property additions)
|
13
|
|
|
6
|
|
|
5
|
|
|||
|
|
$17
|
|
|
|
$6
|
|
|
|
$9
|
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher interest expense from the issuance of WPL’s $250 million, 4.1% debentures in October 2014
|
|
$8
|
|
|
|
$—
|
|
|
|
$8
|
|
Higher interest expense from the issuance of IPL’s $250 million, 3.25% senior debentures in November 2014
|
8
|
|
|
8
|
|
|
—
|
|
|||
Lower interest expense from the retirement of Alliant Energy’s $250 million, 4% senior notes in October 2014
|
(8
|
)
|
|
—
|
|
|
—
|
|
|||
Other
|
(1
|
)
|
|
(1
|
)
|
|
(2
|
)
|
|||
|
|
$7
|
|
|
|
$7
|
|
|
|
$6
|
|
2014 vs. 2013 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher interest expense from the issuance of IPL’s $250 million, 4.7% senior debentures in October 2013
|
|
$9
|
|
|
|
$9
|
|
|
|
$—
|
|
Other
|
(1
|
)
|
|
—
|
|
|
1
|
|
|||
|
|
$8
|
|
|
|
$9
|
|
|
|
$1
|
|
•
|
Natural gas
- purchasing, constructing and/or converting to natural gas-fired EGUs.
|
•
|
Renewables
- operating wind farms and hydroelectric generators, as well as evaluating the development of future wind sites and solar projects.
|
•
|
Coal
- implementing environmental controls and generation performance and reliability improvements at newer, larger and more efficient coal-fired EGUs, and fuel switching at, and retirement of, certain older, smaller and less efficient coal-fired EGUs.
|
•
|
PPAs
- purchasing electricity to meet a portion of customers’ demand for electricity, including wind and solar power PPAs and a nuclear generation PPA related to DAEC for a term of February 2014 through December 2025.
|
•
|
A cost cap of $920 million, including costs to construct Marshalltown, a pipeline to supply natural gas to Marshalltown and transmission network upgrades to transmit electricity from Marshalltown, as well as AFUDC. Any costs incurred in excess of the cost cap are expected to be incorporated into rates if determined to be reasonable and prudent.
|
•
|
An 11% return on common equity for the 35-year depreciable life of Marshalltown and a 10.3% return on common equity for the calculation of AFUDC related to the construction of Marshalltown.
|
•
|
The application of double leverage is deferred until IPL’s next retail electric base rate case or other proceeding.
|
Counterparty
|
|
Option Amount
|
|
Option Timing
|
Wisconsin Public Service Corporation (WPSC)
|
|
up to 200 MW
|
|
2020-2024 (a)
|
Madison Gas and Electric Company (MGE)
|
|
up to 50 MW
|
|
2020-2025 (a)
|
Electric cooperatives
|
|
up to 55 MW
|
|
By September 2016
|
(a)
|
Assumes an in-service date in early 2020.
|
•
|
Riverside Expansion Market Participation Date
- WPL agreed that the proposed Riverside expansion would not enter the MISO capacity market prior to the date set by MISO for qualifying generation as a capacity asset for the MISO planning year beginning June 1, 2020.
|
•
|
Riverside Expansion Interconnection Study
- WPL agreed to file a request with MISO on behalf of itself, Wisconsin Electric and WPSC to complete a non-binding study to assess an interconnection option of the proposed Riverside expansion to ATC’s transmission system. WPL and the parties filed such request with MISO in January 2016.
|
•
|
WPL and Wisconsin Electric PPA
- WPL and Wisconsin Electric agreed to enter into a PPA whereby WPL would purchase specified levels of energy and capacity from Wisconsin Electric through 2019.
|
•
|
Renewable Generation Joint Development Agreement
- WPL, Wisconsin Electric and WPSC agreed to negotiate a separate joint development agreement for the purpose of cooperatively developing any renewable resources greater than 50 MW in Wisconsin for the benefit of their respective customers. The terms of such agreement would be 10 years beginning on a date no later than June 1, 2016. The utility that originates such renewable resource would hold a majority ownership and operational control of the renewable resource. The other two utilities would have the right to acquire a minority interest in the other utility’s renewable resource.
|
|
|
Expected
|
|
|
|
Total
|
|
Compliance
|
|
Regulatory
|
Generating Unit
|
|
In-service Date
|
|
Technology (a)
|
|
Project Cost
|
|
Obligations
|
|
Approvals (b)
|
IPL:
|
|
|
|
|
|
|
|
|
|
|
Ottumwa Unit 1
|
|
2018/2019
|
|
SCR
|
|
$75-$100
|
|
CSAPR, IPL Consent Decree
|
|
In Process
|
WPL:
|
|
|
|
|
|
|
|
|
|
|
Edgewater Unit 5
|
|
2016
|
|
Scrubber & Baghouse
|
|
260-280
|
|
MATS Rule, CSAPR, WPL Consent Decree
|
|
June 2013 PSCW order
|
Columbia Unit 2
|
|
2018
|
|
SCR
|
|
40-60
|
|
CSAPR, WPL Consent Decree
|
|
January 2015 PSCW order
|
(a)
|
Scrubber
is a post-combustion process that injects lime or lime slurry into the stream of gases leaving the EGU boiler to remove SO2 and other acid gases (including hydrochloric acid) and capture them in a solid or liquid waste by-product. A scrubber typically removes more than 90% of the SO2 emissions.
|
(b)
|
IPL’s Environmental Controls Projects -
Under Iowa law, IPL is required to file an EPB biennially. Filing of periodic reports regarding the implementation of IPL’s compliance plan and related budget identified in an EPB is also currently required under a settlement agreement between IPL and the Iowa Office of Consumer Advocate. An EPB provides a utility’s compliance plan and related budget for managing regulated emissions from its coal-fired EGUs in a cost-effective manner. IUB approval of an EPB demonstrates that the EPB is reasonably expected to achieve cost-effective compliance with applicable state environmental requirements. IPL plans to include the SCR for Ottumwa Unit 1 in its next EPB filing, which is currently expected to be filed with the IUB in the first quarter of 2016.
|
|
|
Nameplate
|
|
|
|
Net Book
|
||
EGU (In-Service Year)
|
|
Capacity
|
|
Actual/Expected Date
|
|
Value
|
||
IPL:
|
|
|
|
|
|
|
||
M.L. Kapp Unit 2 (1967)
|
|
218 MW
|
|
Fuel switch completed in June 2015 (a)
|
|
|
$39
|
|
Prairie Creek Unit 4 (1967)
|
|
149 MW
|
|
Fuel switch by December 31, 2017 (a)
|
|
52
|
|
|
Sutherland Units 1 (1955) and 3 (1961)
|
|
119 MW
|
|
Retire by December 31, 2017 (a) (b) (c)
|
|
51
|
|
|
Dubuque Units 3 (1952) and 4 (1959)
|
|
66 MW
|
|
Retire by December 31, 2017 (a) (b)
|
|
6
|
|
|
Fox Lake Unit 1 (1950) and 3 (1962)
|
|
93 MW
|
|
Retire by December 31, 2017 (b) (c)
|
|
2
|
|
|
Other units
|
|
Approximately 195 MW
|
|
Retire by December 31, 2017 (b) (c)
|
|
2
|
|
|
Burlington Generating Station (1968)
|
|
212 MW
|
|
Fuel switch by December 31, 2021 (a)
|
|
61
|
|
|
Prairie Creek Units 1 (1997) and 3 (1958)
|
|
64 MW
|
|
Fuel switch or retire by December 31, 2025 (a) (b)
|
|
95
|
|
|
WPL:
|
|
|
|
|
|
|
||
Nelson Dewey Units 1 (1959) and 2 (1962)
|
|
227 MW
|
|
Retired in December 2015 (a)
|
|
38
|
|
|
Edgewater Unit 3 (1951)
|
|
69 MW
|
|
Retired in December 2015 (a)
|
|
7
|
|
|
Edgewater Unit 4 (1969)
|
|
239 MW (d)
|
|
Retire by December 31, 2018 (a) (b) (e)
|
|
46
|
|
|
Rock River Combustion Turbine Units 3-6 (1967-1972)
|
|
169 MW
|
|
Retire by December 31, 2019 (b) (e)
|
|
2
|
|
|
Sheepskin Combustion Turbine Unit 1 (1971)
|
|
42 MW
|
|
Retire by December 31, 2019 (b) (e)
|
|
—
|
|
(a)
|
These actions and plans meet requirements specified in the Consent Decrees, which are discussed in
Note 16(e)
.
|
(b)
|
Final MISO studies could indicate that the retirement of an individual EGU may result in reliability issues and that transmission network upgrades for system reliability are necessary to enable such retirement. Under the current MISO tariff, the specific timing for the retirement of these EGUs could depend on the timing of the required transmission network upgrades as well as various operational, market and other factors.
|
(c)
|
The retirements of Fox Lake Unit 3, Sutherland Units 1 and 3, and other units are contingent on the construction of Marshalltown as well as various operational, market and other factors.
|
(d)
|
Reflects WPL’s 68.2% ownership interest in Edgewater Unit 4.
|
(e)
|
The retirements of Edgewater Unit 4 and the Rock River and Sheepskin Combustion Turbine Units are contingent on the construction of the Riverside expansion as well as various operational, market and other factors.
|
|
Electric
|
|
Gas
|
|
Total
|
||||||
Regulatory liability account balance approved by IUB
|
|
$452
|
|
|
|
$48
|
|
|
|
$500
|
|
2011 through 2015 customer billing credits
|
(380
|
)
|
|
(35
|
)
|
|
(415
|
)
|
|||
2016 customer billing credits (estimate)
|
(65
|
)
|
|
(12
|
)
|
|
(77
|
)
|
|||
Remaining balance available for future periods
|
|
$7
|
|
|
|
$1
|
|
|
|
$8
|
|
(a)
|
Authorized returns on common equity may not be indicative of actual returns earned or projections of future returns.
|
(b)
|
Authorized returns on common equity and after-tax WACC reflect application of double leverage pursuant to a January 2011 IUB order. Prior to the application of double leverage, authorized returns on common equity were: Emery-12.23%, Whispering Willow-East-11.7% and Other-10.0%, and after-tax WACC were: Emery-9.16%, Whispering Willow-East-8.91% and Other-8.09%.
|
(c)
|
Average rate base was calculated using a 13-month average during the test year adjusted for post-test year capital additions placed in service by September 30 following the end of the test year.
|
(d)
|
Authorized returns on common equity and after-tax WACC reflect application of double leverage pursuant to the unanimous settlement agreement approved in the IUB’s November 2012 order. Prior to the application of double leverage, authorized return on common equity was 10.0% and after-tax WACC was 8.0%.
|
(e)
|
IPL’s wholesale formula rates reflect annual changes in CE, PE, LD, WACC and rate base.
|
(f)
|
Wholesale average rate base reflects production-related rate base calculated as the simple average of the beginning of the test year and end of the test year balances in accordance with the respectively approved formula rates.
|
(g)
|
Average rate base amounts do not include CWIP or a cash working capital allowance and were calculated using a forecasted 13-month average for the test period. The PSCW provides a return on selected CWIP and a cash working capital allowance by adjusting the percentage return on rate base.
|
(h)
|
WPL’s wholesale formula rates reflect annual changes in WACC and rate base.
|
Calendar
|
|
Bonus Depreciation
|
|
|
|
|
|
|
||||||
Year
|
|
Deduction
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
2015
|
|
50%
|
|
|
$200
|
|
|
|
$100
|
|
|
|
$50
|
|
2016
|
|
50%
|
|
450
|
|
|
200
|
|
|
200
|
|
|||
2017
|
|
50%
|
|
750
|
|
|
550
|
|
|
150
|
|
|||
2018
|
|
40%
|
|
300
|
|
|
200
|
|
|
100
|
|
|||
2019
|
|
30%
|
|
500
|
|
|
100
|
|
|
400
|
|
|
|
Emissions
|
|
Alliant Energy’s Primary Facilities
|
|
Actual/Anticipated
|
Environmental Rule
|
|
Regulated
|
|
Potentially Affected
|
|
Compliance Deadline
|
CSAPR
|
|
SO2, NOx
|
|
Fossil-fueled EGUs over 25 MW capacity in IA, WI and MN
|
|
Phase I - 2015; Phase II - 2017
|
MATS Rule
|
|
Mercury and other HAPs
|
|
Coal-fired EGUs over 25 MW capacity in IA and WI
|
|
April 2015
|
2008 Ozone NAAQS Rule
|
|
NOx
|
|
Fossil-fueled EGUs in non-attainment areas
|
|
July 2015
|
2015 Ozone NAAQS Rule
|
|
NOx
|
|
Fossil-fueled EGUs in non-attainment areas
|
|
2020-2037
|
SO2 NAAQS Rule
|
|
SO2
|
|
Fossil-fueled EGUs in non-attainment areas
|
|
2021-2025
|
CAA Section 111(d)
|
|
CO2
|
|
Existing fossil-fueled EGUs over 25 MW capacity
|
|
Phase I - 2022-2029; Phase II - 2030
|
CAA Section 111(b)
|
|
CO2
|
|
Marshalltown and WPL’s proposed Riverside expansion
|
|
Upon startup of EGU
|
IPL
|
|
WPL
|
||||||
Coal
|
|
Natural Gas
|
|
Oil
|
|
Coal
|
|
Natural Gas
|
Ottumwa 1
|
|
Emery 1-3
|
|
Marshalltown 1-3
|
|
Columbia 1-2
|
|
Riverside 1-3
|
Lansing 4
|
|
M.L. Kapp 2 (a)
|
|
Lime Creek 1-2
|
|
Edgewater 4-5
|
|
Neenah 1-2
|
Prairie Creek 3-4
|
|
Sutherland 1,3
|
|
Centerville 1-2
|
|
|
|
Sheboygan Falls 1-2
|
Burlington 1
|
|
Fox Lake 3
|
|
|
|
|
|
South Fond du Lac 1-4
|
George Neal 3-4
|
|
Dubuque 3-4
|
|
|
|
|
|
Rock River 3,5-6
|
Louisa 1
|
|
|
|
|
|
|
|
Sheepskin 1
|
(a)
|
IPL’s M.L. Kapp Unit 2 fuel type was switched from coal to natural gas in 2015.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
|
2014
|
|
2013
|
|
2012
|
|
2014
|
|
2013
|
|
2012
|
|
2014
|
|
2013
|
|
2012
|
CO2e emissions (a)
|
24.3
|
|
26.6
|
|
25.2
|
|
10.9
|
|
10.9
|
|
10.8
|
|
13.4
|
|
15.7
|
|
14.4
|
(a)
|
CO2e emissions reported to the EPA represent all emissions from the facilities operated by IPL and WPL and do not reflect their share of co-owned facilities operated by other companies.
|
|
December 31, 2015
|
|
December 31, 2014
|
||||||||||||||||||||||||||||||||||||||
|
Alliant Energy (Consolidated)
|
|
IPL
|
|
WPL
|
|
Alliant Energy (Consolidated)
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
Common equity
|
|
$3,724.1
|
|
|
47
|
%
|
|
|
$1,995.3
|
|
|
49
|
%
|
|
|
$1,756.3
|
|
|
53
|
%
|
|
|
$3,438.7
|
|
|
45
|
%
|
|
|
$1,784.3
|
|
|
48
|
%
|
|
|
$1,706.9
|
|
|
52
|
%
|
IPL’s preferred stock
|
200.0
|
|
|
3
|
%
|
|
200.0
|
|
|
5
|
%
|
|
—
|
|
|
—
|
%
|
|
200.0
|
|
|
3
|
%
|
|
200.0
|
|
|
5
|
%
|
|
—
|
|
|
—
|
%
|
||||||
Noncontrolling interest
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
11.3
|
|
|
—
|
%
|
|
1.8
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
8.5
|
|
|
—
|
%
|
||||||
Long-term debt (incl. current maturities)
|
3,835.6
|
|
|
48
|
%
|
|
1,856.9
|
|
|
46
|
%
|
|
1,533.9
|
|
|
46
|
%
|
|
3,767.3
|
|
|
50
|
%
|
|
1,758.0
|
|
|
47
|
%
|
|
1,563.1
|
|
|
48
|
%
|
||||||
Short-term debt
|
159.8
|
|
|
2
|
%
|
|
—
|
|
|
—
|
%
|
|
19.9
|
|
|
1
|
%
|
|
141.3
|
|
|
2
|
%
|
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
||||||
|
|
$7,919.5
|
|
|
100
|
%
|
|
|
$4,052.2
|
|
|
100
|
%
|
|
|
$3,321.4
|
|
|
100
|
%
|
|
|
$7,549.1
|
|
|
100
|
%
|
|
|
$3,742.3
|
|
|
100
|
%
|
|
|
$3,278.5
|
|
|
100
|
%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||
|
2015
|
2014
|
2013
|
|
2015
|
2014
|
2013
|
|
2015
|
2014
|
2013
|
||||||||||||||||||
Cash and cash equivalents, January 1
|
|
$56.9
|
|
|
$9.8
|
|
|
$21.2
|
|
|
|
$5.3
|
|
|
$4.4
|
|
|
$4.5
|
|
|
|
$46.7
|
|
|
$0.5
|
|
|
$0.7
|
|
Cash flows from (used for):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Operating activities
|
871.2
|
|
891.6
|
|
731.0
|
|
|
385.0
|
|
406.1
|
|
232.6
|
|
|
449.8
|
|
424.4
|
|
423.3
|
|
|||||||||
Investing activities
|
(919.2
|
)
|
(917.7
|
)
|
(754.7
|
)
|
|
(511.9
|
)
|
(552.7
|
)
|
(423.3
|
)
|
|
(358.2
|
)
|
(320.1
|
)
|
(335.9
|
)
|
|||||||||
Financing activities
|
(3.1
|
)
|
73.2
|
|
12.3
|
|
|
126.1
|
|
147.5
|
|
190.6
|
|
|
(137.9
|
)
|
(58.1
|
)
|
(87.6
|
)
|
|||||||||
Net increase (decrease)
|
(51.1
|
)
|
47.1
|
|
(11.4
|
)
|
|
(0.8
|
)
|
0.9
|
|
(0.1
|
)
|
|
(46.3
|
)
|
46.2
|
|
(0.2
|
)
|
|||||||||
Cash and cash equivalents, December 31
|
|
$5.8
|
|
|
$56.9
|
|
|
$9.8
|
|
|
|
$4.5
|
|
|
$5.3
|
|
|
$4.4
|
|
|
|
$0.4
|
|
|
$46.7
|
|
|
$0.5
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Decreased collections from IPL’s and WPL’s retail customers caused by temperature impacts on electric and gas sales
|
|
($33
|
)
|
|
|
($17
|
)
|
|
|
($16
|
)
|
Final receipt related to Alliant Energy’s tax separation and indemnification agreement with Whiting Petroleum in 2014 (Refer to
Note 5(c)
for details)
|
(26
|
)
|
|
—
|
|
|
—
|
|
|||
Timing of WPL’s fuel-related cost recoveries from customers
|
50
|
|
|
—
|
|
|
50
|
|
|||
Changes in IPL’s retail electric customer billing credits (Refer to “
Rate Matters
” for details)
|
48
|
|
|
48
|
|
|
—
|
|
|||
Other (includes other changes in working capital largely related to changes in inventory levels)
|
(59
|
)
|
|
(52
|
)
|
|
(9
|
)
|
|||
|
|
($20
|
)
|
|
|
($21
|
)
|
|
|
$25
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower purchased electric capacity payments related to the previous DAEC PPA (IPL) and the Kewaunee PPA (WPL)
|
|
$190
|
|
|
|
$129
|
|
|
|
$61
|
|
Changes in the level of IPL’s accounts receivable sold (Refer to
Note 5(b)
for details)
|
94
|
|
|
94
|
|
|
—
|
|
|||
Final receipt related to Alliant Energy’s tax separation and indemnification agreement with Whiting Petroleum in 2014 (Refer to
Note 5(c)
for details)
|
26
|
|
|
—
|
|
|
—
|
|
|||
IPL’s retail electric customer billing credits in 2014 (Refer to “
Rate Matters
” for details)
|
(72
|
)
|
|
(72
|
)
|
|
—
|
|
|||
Timing of WPL’s fuel-related cost recoveries from customers
|
(38
|
)
|
|
—
|
|
|
(38
|
)
|
|||
Other (includes other changes in working capital largely related to changes in inventory levels)
|
(39
|
)
|
|
23
|
|
|
(22
|
)
|
|||
|
|
$161
|
|
|
|
$174
|
|
|
|
$1
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
IPL
|
|
$19
|
|
|
|
$20
|
|
|
|
$—
|
|
WPL
|
(7
|
)
|
|
(12
|
)
|
|
(23
|
)
|
|||
Other subsidiaries
|
(12
|
)
|
|
(3
|
)
|
|
33
|
|
|||
Alliant Energy
|
|
$—
|
|
|
|
$5
|
|
|
|
$10
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Proceeds from IPL’s Minnesota distribution asset sales in 2015 (Refer to
Note 3
for details)
|
|
$140
|
|
|
|
$140
|
|
|
|
$—
|
|
Higher utility construction expenditures (a)
|
(125
|
)
|
|
(93
|
)
|
|
(31
|
)
|
|||
Other
|
(17
|
)
|
|
(6
|
)
|
|
(7
|
)
|
|||
|
|
($2
|
)
|
|
|
$41
|
|
|
|
($38
|
)
|
(a)
|
Largely due to higher expenditures for Marshalltown and environmental controls projects at WPL’s Edgewater Unit 5 in 2015, partially offset by lower expenditures for environmental controls projects at IPL’s Ottumwa Unit 1 and WPL’s Columbia Units 1 and 2 in 2015.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower (higher) utility construction expenditures (a)
|
|
($107
|
)
|
|
|
($126
|
)
|
|
|
$19
|
|
Cash grant received in 2013 related to the Franklin County wind farm (Refer to
Note 5(d)
for details)
|
(62
|
)
|
|
—
|
|
|
—
|
|
|||
Other
|
6
|
|
|
(3
|
)
|
|
(3
|
)
|
|||
|
|
($163
|
)
|
|
|
($129
|
)
|
|
|
$16
|
|
(a)
|
Largely due to higher expenditures for Marshalltown, IPL’s and WPL’s electric and gas distribution systems and environmental controls projects at WPL’s Edgewater Unit 5 in 2014, partially offset by lower expenditures for environmental controls projects at WPL’s Columbia Units 1 and 2 in 2014.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|||||||||||||||||||||||||||||||||
|
2016
|
2017
|
2018
|
2019
|
|
2016
|
2017
|
2018
|
2019
|
|
2016
|
2017
|
2018
|
2019
|
||||||||||||||||||||||||
Generation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Marshalltown
|
|
$200
|
|
|
$10
|
|
|
$—
|
|
|
$—
|
|
|
|
$200
|
|
|
$10
|
|
|
$—
|
|
|
$—
|
|
|
|
$—
|
|
|
$—
|
|
|
$—
|
|
|
$—
|
|
Proposed Riverside expansion
|
80
|
|
260
|
|
225
|
|
115
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
80
|
|
260
|
|
225
|
|
115
|
|
||||||||||||
Environmental compliance
|
110
|
|
75
|
|
55
|
|
15
|
|
|
30
|
|
40
|
|
50
|
|
10
|
|
|
80
|
|
35
|
|
5
|
|
5
|
|
||||||||||||
Other
|
190
|
|
165
|
|
125
|
|
160
|
|
|
95
|
|
65
|
|
50
|
|
75
|
|
|
95
|
|
100
|
|
75
|
|
85
|
|
||||||||||||
Distribution:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Electric systems
|
300
|
|
425
|
|
515
|
|
565
|
|
|
165
|
|
235
|
|
310
|
|
370
|
|
|
135
|
|
190
|
|
205
|
|
195
|
|
||||||||||||
Gas systems
|
200
|
|
225
|
|
195
|
|
160
|
|
|
150
|
|
155
|
|
115
|
|
90
|
|
|
50
|
|
70
|
|
80
|
|
70
|
|
||||||||||||
Other
|
85
|
|
170
|
|
160
|
|
200
|
|
|
15
|
|
35
|
|
25
|
|
20
|
|
|
40
|
|
35
|
|
10
|
|
10
|
|
||||||||||||
|
|
$1,165
|
|
|
$1,330
|
|
|
$1,275
|
|
|
$1,215
|
|
|
|
$655
|
|
|
$540
|
|
|
$550
|
|
|
$565
|
|
|
|
$480
|
|
|
$690
|
|
|
$600
|
|
|
$480
|
|
|
Initial Authorization and
|
||
|
Current Remaining Authority
|
||
Long-term debt securities issuances in aggregate
|
|
$550
|
|
Short-term debt securities outstanding at any time (including borrowings from its parent)
|
300
|
|
|
Preferred stock issuances in aggregate
|
300
|
|
Company
|
|
Principal Amount
|
|
Type
|
|
Interest Rate
|
|
Maturity Date
|
|
Use of Proceeds
|
||
2015:
|
|
|
|
|
|
|
|
|
|
|
||
IPL
|
|
|
$250
|
|
|
Senior debentures
|
|
3.4%
|
|
Aug-2025
|
|
Reduce commercial paper classified as long-term debt, reduce cash amounts received from its sales of accounts receivable program and for general corporate purposes
|
2014:
|
|
|
|
|
|
|
|
|
|
|
||
Alliant Energy
|
|
250
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2015
|
|
Oct-2016
|
|
Retire its $250 million, 4% senior notes due 2014
|
|
IPL
|
|
250
|
|
|
Senior debentures
|
|
3.25%
|
|
Dec-2024
|
|
Reduce cash amounts received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt and for general corporate purposes
|
|
WPL
|
|
250
|
|
|
Debentures
|
|
4.1%
|
|
Oct-2044
|
|
Reduce commercial paper and for general corporate purposes
|
|
Franklin County Holdings LLC
|
|
60
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2015
|
|
Dec-2016
|
|
Retire borrowings under a term loan credit agreement that matured in December 2014
|
|
2013:
|
|
|
|
|
|
|
|
|
|
|
||
IPL
|
|
250
|
|
|
Senior debentures
|
|
4.7%
|
|
Oct-2043
|
|
Reduce cash amounts received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt and for general corporate purposes
|
Company
|
|
Principal Amount
|
|
Type
|
|
Interest Rate
|
|
Retirement Date
|
||
2015:
|
|
|
|
|
|
|
|
|
||
IPL
|
|
|
$150
|
|
|
Senior debentures
|
|
3.3%
|
|
Jun-2015
|
WPL
|
|
16
|
|
|
Pollution control revenue bonds
|
|
5%
|
|
Sep-2015
|
|
WPL
|
|
15
|
|
|
Pollution control revenue bonds
|
|
5.375%
|
|
Aug-2015
|
|
2014:
|
|
|
|
|
|
|
|
|
||
Alliant Energy
|
|
250
|
|
|
Senior notes
|
|
4%
|
|
Oct-2014
|
|
Franklin County Holdings LLC
|
|
60
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2013
|
|
Dec-2014
|
|
IPL
|
|
38
|
|
|
Pollution control revenue bonds
|
|
5%
|
|
Jul-2014
|
|
|
Standard & Poor’s Ratings Services
|
|
Moody’s Investors Service
|
Alliant Energy:
|
Corporate/issuer
|
A-
|
|
A3
|
|
Commercial paper
|
A-2
|
|
P-2
|
|
Senior unsecured long-term debt
|
BBB+
|
|
A3
|
|
Outlook
|
Stable
|
|
Negative
|
IPL:
|
Corporate/issuer
|
A-
|
|
A3
|
|
Commercial paper
|
A-2
|
|
P-2
|
|
Senior unsecured long-term debt
|
A-
|
|
A3
|
|
Preferred stock
|
BBB
|
|
Baa2
|
|
Outlook
|
Stable
|
|
Negative
|
WPL:
|
Corporate/issuer
|
A
|
|
A1
|
|
Commercial paper
|
A-1
|
|
P-1
|
|
Senior unsecured long-term debt
|
A
|
|
A1
|
|
Outlook
|
Stable
|
|
Negative
|
Alliant Energy
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|
Total
|
||||||||||||||
Operating expense purchase obligations (
Note 16(b)
):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Purchased power and fuel commitments (a)
|
|
$504
|
|
|
|
$340
|
|
|
|
$277
|
|
|
|
$198
|
|
|
|
$165
|
|
|
|
$765
|
|
|
|
$2,249
|
|
SO2 emission allowances
|
14
|
|
|
8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
22
|
|
|||||||
Other (b)
|
6
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
7
|
|
|
21
|
|
|||||||
Long-term debt maturities (
Note 9(b)
)
|
313
|
|
|
5
|
|
|
356
|
|
|
256
|
|
|
357
|
|
|
2,584
|
|
|
3,871
|
|
|||||||
Interest - long-term debt obligations
|
183
|
|
|
180
|
|
|
180
|
|
|
156
|
|
|
140
|
|
|
1,927
|
|
|
2,766
|
|
|||||||
Capital purchase obligations (
Note 16(a)
)
|
23
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
23
|
|
|||||||
Operating leases (
Note 10(a)
)
|
6
|
|
|
8
|
|
|
3
|
|
|
2
|
|
|
2
|
|
|
19
|
|
|
40
|
|
|||||||
Capital leases
|
1
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|||||||
|
|
$1,050
|
|
|
|
$544
|
|
|
|
$818
|
|
|
|
$614
|
|
|
|
$666
|
|
|
|
$5,302
|
|
|
|
$8,994
|
|
IPL
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|
Total
|
||||||||||||||
Operating expense purchase obligations (
Note 16(b)
):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Purchased power and fuel commitments (a)
|
|
$291
|
|
|
|
$210
|
|
|
|
$183
|
|
|
|
$175
|
|
|
|
$151
|
|
|
|
$759
|
|
|
|
$1,769
|
|
SO2 emission allowances
|
14
|
|
|
8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
22
|
|
|||||||
Other (b)
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||||||
Long-term debt maturities (
Note 9(b)
)
|
—
|
|
|
—
|
|
|
350
|
|
|
—
|
|
|
200
|
|
|
1,325
|
|
|
1,875
|
|
|||||||
Interest - long-term debt obligations
|
95
|
|
|
96
|
|
|
96
|
|
|
72
|
|
|
72
|
|
|
904
|
|
|
1,335
|
|
|||||||
Capital purchase obligations (
Note 16(a)
)
|
7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|||||||
Operating leases (
Note 10(a)
)
|
3
|
|
|
3
|
|
|
2
|
|
|
1
|
|
|
1
|
|
|
13
|
|
|
23
|
|
|||||||
Capital leases
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||||||
|
|
$411
|
|
|
|
$318
|
|
|
|
$631
|
|
|
|
$248
|
|
|
|
$424
|
|
|
|
$3,001
|
|
|
|
$5,033
|
|
WPL
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|
Total
|
||||||||||||||
Operating expense purchase obligations (
Note 16(b)
):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Purchased power and fuel commitments (a)
|
|
$213
|
|
|
|
$130
|
|
|
|
$94
|
|
|
|
$23
|
|
|
|
$14
|
|
|
|
$6
|
|
|
|
$480
|
|
Other (b)
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|||||||
Long-term debt maturities (
Note 9(b)
)
|
—
|
|
|
—
|
|
|
—
|
|
|
250
|
|
|
150
|
|
|
1,150
|
|
|
1,550
|
|
|||||||
Interest - long-term debt obligations
|
80
|
|
|
80
|
|
|
80
|
|
|
80
|
|
|
64
|
|
|
1,010
|
|
|
1,394
|
|
|||||||
Capital purchase obligations (
Note 16(a)
)
|
16
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
16
|
|
|||||||
Operating leases (
Note 10(a)
)
|
3
|
|
|
5
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
9
|
|
|||||||
Capital lease - Sheboygan Falls (
Note 10(b)
)
|
15
|
|
|
15
|
|
|
15
|
|
|
15
|
|
|
15
|
|
|
68
|
|
|
143
|
|
|||||||
Capital leases - other
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||||||
|
|
$330
|
|
|
|
$230
|
|
|
|
$190
|
|
|
|
$368
|
|
|
|
$243
|
|
|
|
$2,234
|
|
|
|
$3,595
|
|
(a)
|
Purchased power and fuel commitments represent normal business contracts used to ensure adequate purchased power, coal and natural gas supplies, and to minimize exposure to market price fluctuations. Alliant Energy, through its subsidiary 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
December 31, 2015
regarding expected future usage, which is subject to change.
|
(b)
|
Other operating expense purchase obligations represent individual commitments incurred during the normal course of business that exceeded $1 million at
December 31, 2015
.
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
Change in Actuarial Assumption
|
|
Impact on Projected Benefit Obligation at December 31, 2015
|
|
Impact on 2016 Net Periodic Benefit Costs
|
|
Impact on Projected Benefit Obligation at December 31, 2015
|
|
Impact on 2016 Net Periodic Benefit Costs
|
||||||||
Alliant Energy
|
|
|
|
|
|
|
|
|
||||||||
1% change in discount rate
|
|
|
$167
|
|
|
|
$13
|
|
|
|
$21
|
|
|
|
$2
|
|
1% change in expected rate of return
|
|
N/A
|
|
|
9
|
|
|
N/A
|
|
|
1
|
|
||||
IPL
|
|
|
|
|
|
|
|
|
||||||||
1% change in discount rate
|
|
78
|
|
|
6
|
|
|
8
|
|
|
1
|
|
||||
1% change in expected rate of return
|
|
N/A
|
|
|
4
|
|
|
N/A
|
|
|
1
|
|
||||
WPL
|
|
|
|
|
|
|
|
|
||||||||
1% change in discount rate
|
|
72
|
|
|
6
|
|
|
8
|
|
|
1
|
|
||||
1% change in expected rate of return
|
|
N/A
|
|
|
4
|
|
|
N/A
|
|
|
—
|
|
|
Year Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
|
(in millions, except per share amounts)
|
||||||||||
Operating revenues:
|
|
|
|
|
|
||||||
Electric utility
|
|
$2,770.5
|
|
|
|
$2,713.6
|
|
|
|
$2,689.0
|
|
Gas utility
|
381.2
|
|
|
517.5
|
|
|
464.8
|
|
|||
Other utility
|
57.9
|
|
|
66.1
|
|
|
71.3
|
|
|||
Non-regulated
|
44.0
|
|
|
53.1
|
|
|
51.7
|
|
|||
Total operating revenues
|
3,253.6
|
|
|
3,350.3
|
|
|
3,276.8
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Electric production fuel and purchased power
|
837.7
|
|
|
877.2
|
|
|
941.8
|
|
|||
Electric transmission service
|
485.3
|
|
|
447.5
|
|
|
418.3
|
|
|||
Cost of gas sold
|
219.1
|
|
|
327.8
|
|
|
276.7
|
|
|||
Other operation and maintenance
|
629.5
|
|
|
665.0
|
|
|
635.6
|
|
|||
Depreciation and amortization
|
401.3
|
|
|
388.1
|
|
|
370.9
|
|
|||
Taxes other than income taxes
|
103.7
|
|
|
101.1
|
|
|
99.6
|
|
|||
Total operating expenses
|
2,676.6
|
|
|
2,806.7
|
|
|
2,742.9
|
|
|||
Operating income
|
577.0
|
|
|
543.6
|
|
|
533.9
|
|
|||
Interest expense and other:
|
|
|
|
|
|
||||||
Interest expense
|
187.1
|
|
|
180.6
|
|
|
172.8
|
|
|||
Equity income from unconsolidated investments, net
|
(33.8
|
)
|
|
(40.4
|
)
|
|
(43.7
|
)
|
|||
Allowance for funds used during construction
|
(36.9
|
)
|
|
(34.8
|
)
|
|
(30.8
|
)
|
|||
Interest income and other
|
(0.7
|
)
|
|
(1.8
|
)
|
|
(0.4
|
)
|
|||
Total interest expense and other
|
115.7
|
|
|
103.6
|
|
|
97.9
|
|
|||
Income from continuing operations before income taxes
|
461.3
|
|
|
440.0
|
|
|
436.0
|
|
|||
Income taxes
|
70.4
|
|
|
44.3
|
|
|
53.9
|
|
|||
Income from continuing operations, net of tax
|
390.9
|
|
|
395.7
|
|
|
382.1
|
|
|||
Loss from discontinued operations, net of tax
|
(2.5
|
)
|
|
(2.4
|
)
|
|
(5.9
|
)
|
|||
Net income
|
388.4
|
|
|
393.3
|
|
|
376.2
|
|
|||
Preferred dividend requirements of subsidiaries
|
10.2
|
|
|
10.2
|
|
|
17.9
|
|
|||
Net income attributable to Alliant Energy common shareowners
|
|
$378.2
|
|
|
|
$383.1
|
|
|
|
$358.3
|
|
Weighted average number of common shares outstanding (basic and diluted)
|
112.7
|
|
|
110.8
|
|
|
110.8
|
|
|||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted):
|
|
|
|
|
|
||||||
Income from continuing operations, net of tax
|
|
$3.38
|
|
|
|
$3.48
|
|
|
|
$3.29
|
|
Loss from discontinued operations, net of tax
|
(0.02
|
)
|
|
(0.02
|
)
|
|
(0.06
|
)
|
|||
Net income
|
|
$3.36
|
|
|
|
$3.46
|
|
|
|
$3.23
|
|
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
||||||
Income from continuing operations, net of tax
|
|
$380.7
|
|
|
|
$385.5
|
|
|
|
$364.2
|
|
Loss from discontinued operations, net of tax
|
(2.5
|
)
|
|
(2.4
|
)
|
|
(5.9
|
)
|
|||
Net income
|
|
$378.2
|
|
|
|
$383.1
|
|
|
|
$358.3
|
|
|
December 31,
|
||||||
|
2015
|
|
2014
|
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$5.8
|
|
|
|
$56.9
|
|
Accounts receivable, less allowance for doubtful accounts
|
397.6
|
|
|
427.3
|
|
||
Production fuel, at weighted average cost
|
98.8
|
|
|
83.8
|
|
||
Gas stored underground, at weighted average cost
|
43.3
|
|
|
67.1
|
|
||
Materials and supplies, at weighted average cost
|
81.4
|
|
|
72.9
|
|
||
Regulatory assets
|
120.2
|
|
|
68.1
|
|
||
Deferred tax assets
|
—
|
|
|
150.1
|
|
||
Other
|
79.7
|
|
|
116.9
|
|
||
Total current assets
|
826.8
|
|
|
1,043.1
|
|
||
Property, plant and equipment, net
|
9,519.1
|
|
|
8,938.4
|
|
||
Investments:
|
|
|
|
||||
Investment in American Transmission Company LLC
|
293.3
|
|
|
286.5
|
|
||
Other
|
53.0
|
|
|
58.4
|
|
||
Total investments
|
346.3
|
|
|
344.9
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,788.4
|
|
|
1,715.6
|
|
||
Deferred charges and other
|
14.6
|
|
|
21.5
|
|
||
Total other assets
|
1,803.0
|
|
|
1,737.1
|
|
||
Total assets
|
|
$12,495.2
|
|
|
|
$12,063.5
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$313.4
|
|
|
|
$183.0
|
|
Commercial paper
|
159.8
|
|
|
141.3
|
|
||
Accounts payable
|
402.4
|
|
|
427.9
|
|
||
Regulatory liabilities
|
187.1
|
|
|
200.1
|
|
||
Other
|
296.6
|
|
|
262.4
|
|
||
Total current liabilities
|
1,359.3
|
|
|
1,214.7
|
|
||
Long-term debt, net (excluding current portion)
|
3,522.2
|
|
|
3,584.3
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
2,381.2
|
|
|
2,321.1
|
|
||
Regulatory liabilities
|
550.6
|
|
|
621.1
|
|
||
Pension and other benefit obligations
|
451.8
|
|
|
421.7
|
|
||
Other
|
306.0
|
|
|
260.1
|
|
||
Total other liabilities
|
3,689.6
|
|
|
3,624.0
|
|
||
Commitments and contingencies (
Note 16
)
|
|
|
|
||||
Equity:
|
|
|
|
||||
Alliant Energy Corporation common equity:
|
|
|
|
||||
Common stock - $0.01 par value - 240,000,000 shares authorized; 113,459,216 and 110,935,680 shares outstanding
|
1.1
|
|
|
1.1
|
|
||
Additional paid-in capital
|
1,663.0
|
|
|
1,509.1
|
|
||
Retained earnings
|
2,068.9
|
|
|
1,938.0
|
|
||
Accumulated other comprehensive loss
|
(0.4
|
)
|
|
(0.6
|
)
|
||
Shares in deferred compensation trust - 215,093 and 238,935 shares at a weighted average cost of $39.69 and $37.45 per share
|
(8.5
|
)
|
|
(8.9
|
)
|
||
Total Alliant Energy Corporation common equity
|
3,724.1
|
|
|
3,438.7
|
|
||
Cumulative preferred stock of Interstate Power and Light Company
|
200.0
|
|
|
200.0
|
|
||
Noncontrolling interest
|
—
|
|
|
1.8
|
|
||
Total equity
|
3,924.1
|
|
|
3,640.5
|
|
||
Total liabilities and equity
|
|
$12,495.2
|
|
|
|
$12,063.5
|
|
|
Year Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
|
(in millions)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net income
|
|
$388.4
|
|
|
|
$393.3
|
|
|
|
$376.2
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
401.3
|
|
|
388.1
|
|
|
370.9
|
|
|||
Other amortizations
|
12.4
|
|
|
54.2
|
|
|
40.2
|
|
|||
Deferred tax expense and investment tax credits
|
114.2
|
|
|
55.2
|
|
|
108.3
|
|
|||
Equity income from unconsolidated investments, net
|
(33.8
|
)
|
|
(40.4
|
)
|
|
(43.7
|
)
|
|||
Distributions from equity method investments
|
30.6
|
|
|
36.4
|
|
|
35.4
|
|
|||
Equity component of allowance for funds used during construction
|
(24.4
|
)
|
|
(23.1
|
)
|
|
(20.3
|
)
|
|||
Other
|
15.7
|
|
|
2.0
|
|
|
(3.7
|
)
|
|||
Other changes in assets and liabilities:
|
|
|
|
|
|
||||||
Accounts receivable
|
36.8
|
|
|
48.7
|
|
|
(49.2
|
)
|
|||
Sales of accounts receivable
|
(17.0
|
)
|
|
(7.0
|
)
|
|
(101.0
|
)
|
|||
Regulatory assets
|
(104.5
|
)
|
|
(439.8
|
)
|
|
140.5
|
|
|||
Regulatory liabilities
|
(67.8
|
)
|
|
10.8
|
|
|
(90.8
|
)
|
|||
Deferred taxes
|
94.6
|
|
|
138.4
|
|
|
101.9
|
|
|||
Pension and other benefit obligations
|
30.1
|
|
|
215.1
|
|
|
(157.4
|
)
|
|||
Other
|
(5.4
|
)
|
|
59.7
|
|
|
23.7
|
|
|||
Net cash flows from operating activities
|
871.2
|
|
|
891.6
|
|
|
731.0
|
|
|||
Cash flows used for investing activities:
|
|
|
|
|
|
||||||
Construction and acquisition expenditures:
|
|
|
|
|
|
||||||
Utility business
|
(963.6
|
)
|
|
(838.9
|
)
|
|
(731.6
|
)
|
|||
Alliant Energy Corporate Services, Inc. and non-regulated businesses
|
(70.7
|
)
|
|
(63.9
|
)
|
|
(66.7
|
)
|
|||
Proceeds from Minnesota electric and natural gas distribution asset sales
|
139.9
|
|
|
—
|
|
|
—
|
|
|||
Proceeds from Franklin County wind farm cash grant
|
—
|
|
|
—
|
|
|
62.4
|
|
|||
Other
|
(24.8
|
)
|
|
(14.9
|
)
|
|
(18.8
|
)
|
|||
Net cash flows used for investing activities
|
(919.2
|
)
|
|
(917.7
|
)
|
|
(754.7
|
)
|
|||
Cash flows from (used for) financing activities:
|
|
|
|
|
|
||||||
Common stock dividends
|
(247.3
|
)
|
|
(225.8
|
)
|
|
(208.3
|
)
|
|||
Proceeds from issuance of common stock, net
|
151.2
|
|
|
—
|
|
|
—
|
|
|||
Payments to redeem cumulative preferred stock of IPL and WPL
|
—
|
|
|
—
|
|
|
(211.0
|
)
|
|||
Proceeds from issuance of cumulative preferred stock of IPL
|
—
|
|
|
—
|
|
|
200.0
|
|
|||
Proceeds from issuance of long-term debt
|
250.7
|
|
|
812.9
|
|
|
250.0
|
|
|||
Payments to retire long-term debt
|
(183.0
|
)
|
|
(358.5
|
)
|
|
(1.5
|
)
|
|||
Net change in commercial paper
|
18.5
|
|
|
(138.1
|
)
|
|
11.9
|
|
|||
Other
|
6.8
|
|
|
(17.3
|
)
|
|
(28.8
|
)
|
|||
Net cash flows from (used for) financing activities
|
(3.1
|
)
|
|
73.2
|
|
|
12.3
|
|
|||
Net increase (decrease) in cash and cash equivalents
|
(51.1
|
)
|
|
47.1
|
|
|
(11.4
|
)
|
|||
Cash and cash equivalents at beginning of period
|
56.9
|
|
|
9.8
|
|
|
21.2
|
|
|||
Cash and cash equivalents at end of period
|
|
$5.8
|
|
|
|
$56.9
|
|
|
|
$9.8
|
|
Supplemental cash flows information:
|
|
|
|
|
|
||||||
Cash (paid) refunded during the period for:
|
|
|
|
|
|
||||||
Interest, net of capitalized interest
|
|
($184.8
|
)
|
|
|
($180.8
|
)
|
|
|
($171.7
|
)
|
Income taxes, net
|
|
$—
|
|
|
|
$5.3
|
|
|
|
$9.6
|
|
Significant non-cash investing and financing activities:
|
|
|
|
|
|
||||||
Accrued capital expenditures
|
|
$148.3
|
|
|
|
$160.3
|
|
|
|
$103.8
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
||||||||||||
|
|
|
|
|
|
|
Accumulated
|
|
Shares in
|
|
Alliant
|
||||||||||||
|
|
|
Additional
|
|
|
|
Other
|
|
Deferred
|
|
Energy
|
||||||||||||
|
Common
|
|
Paid-In
|
|
Retained
|
|
Comprehensive
|
|
Compensation
|
|
Common
|
||||||||||||
|
Stock
|
|
Capital
|
|
Earnings
|
|
Income (Loss)
|
|
Trust
|
|
Equity
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
2013:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
$1.1
|
|
|
$1,511.2
|
|
|
|
$1,630.7
|
|
|
|
($0.8
|
)
|
|
|
($7.3
|
)
|
|
|
$3,134.9
|
|
||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
358.3
|
|
|
|
|
|
|
358.3
|
|
||||||||||
Common stock dividends ($1.88 per share)
|
|
|
|
|
(208.3
|
)
|
|
|
|
|
|
(208.3
|
)
|
||||||||||
Preferred stock issuance costs
|
|
|
(5.4
|
)
|
|
|
|
|
|
|
|
(5.4
|
)
|
||||||||||
Other
|
|
|
2.0
|
|
|
|
|
|
|
(0.7
|
)
|
|
1.3
|
|
|||||||||
Other comprehensive income, net of tax
|
|
|
|
|
|
|
0.6
|
|
|
|
|
0.6
|
|
||||||||||
Ending balance
|
1.1
|
|
1,507.8
|
|
|
1,780.7
|
|
|
(0.2
|
)
|
|
(8.0
|
)
|
|
3,281.4
|
|
|||||||
2014:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
383.1
|
|
|
|
|
|
|
383.1
|
|
||||||||||
Common stock dividends ($2.04 per share)
|
|
|
|
|
(225.8
|
)
|
|
|
|
|
|
(225.8
|
)
|
||||||||||
Other
|
|
|
1.3
|
|
|
|
|
|
|
(0.9
|
)
|
|
0.4
|
|
|||||||||
Other comprehensive loss, net of tax
|
|
|
|
|
|
|
(0.4
|
)
|
|
|
|
(0.4
|
)
|
||||||||||
Ending balance
|
1.1
|
|
|
1,509.1
|
|
|
1,938.0
|
|
|
(0.6
|
)
|
|
(8.9
|
)
|
|
3,438.7
|
|
||||||
2015:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
378.2
|
|
|
|
|
|
|
378.2
|
|
||||||||||
Common stock dividends ($2.20 per share)
|
|
|
|
|
(247.3
|
)
|
|
|
|
|
|
(247.3
|
)
|
||||||||||
Common stock issued, net
|
|
|
151.2
|
|
|
|
|
|
|
|
|
151.2
|
|
||||||||||
Other
|
|
|
2.7
|
|
|
|
|
|
|
0.4
|
|
|
3.1
|
|
|||||||||
Other comprehensive income, net of tax
|
|
|
|
|
|
|
0.2
|
|
|
|
|
0.2
|
|
||||||||||
Ending balance
|
|
$1.1
|
|
|
|
$1,663.0
|
|
|
|
$2,068.9
|
|
|
|
($0.4
|
)
|
|
|
($8.5
|
)
|
|
|
$3,724.1
|
|
|
Year Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
|
(in millions)
|
||||||||||
Operating revenues:
|
|
|
|
|
|
||||||
Electric utility
|
|
$1,503.8
|
|
|
|
$1,493.3
|
|
|
|
$1,491.8
|
|
Gas utility
|
217.3
|
|
|
296.5
|
|
|
273.9
|
|
|||
Steam and other
|
53.4
|
|
|
58.3
|
|
|
53.1
|
|
|||
Total operating revenues
|
1,774.5
|
|
|
1,848.1
|
|
|
1,818.8
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Electric production fuel and purchased power
|
428.4
|
|
|
497.3
|
|
|
537.3
|
|
|||
Electric transmission service
|
328.2
|
|
|
323.4
|
|
|
301.4
|
|
|||
Cost of gas sold
|
123.3
|
|
|
185.5
|
|
|
160.3
|
|
|||
Other operation and maintenance
|
389.9
|
|
|
381.1
|
|
|
362.3
|
|
|||
Depreciation and amortization
|
207.2
|
|
|
197.5
|
|
|
191.1
|
|
|||
Taxes other than income taxes
|
55.6
|
|
|
54.1
|
|
|
54.4
|
|
|||
Total operating expenses
|
1,532.6
|
|
|
1,638.9
|
|
|
1,606.8
|
|
|||
Operating income
|
241.9
|
|
|
209.2
|
|
|
212.0
|
|
|||
Interest expense and other:
|
|
|
|
|
|
||||||
Interest expense
|
96.8
|
|
|
89.9
|
|
|
81.3
|
|
|||
Allowance for funds used during construction
|
(28.2
|
)
|
|
(25.9
|
)
|
|
(21.0
|
)
|
|||
Interest income and other
|
(0.2
|
)
|
|
2.3
|
|
|
(0.3
|
)
|
|||
Total interest expense and other
|
68.4
|
|
|
66.3
|
|
|
60.0
|
|
|||
Income before income taxes
|
173.5
|
|
|
142.9
|
|
|
152.0
|
|
|||
Income tax benefit
|
(22.7
|
)
|
|
(48.9
|
)
|
|
(36.3
|
)
|
|||
Net income
|
196.2
|
|
|
191.8
|
|
|
188.3
|
|
|||
Preferred dividend requirements
|
10.2
|
|
|
10.2
|
|
|
16.3
|
|
|||
Earnings available for common stock
|
|
$186.0
|
|
|
|
$181.6
|
|
|
|
$172.0
|
|
|
December 31,
|
||||||
|
2015
|
|
2014
|
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$4.5
|
|
|
|
$5.3
|
|
Accounts receivable, less allowance for doubtful accounts
|
200.0
|
|
|
216.7
|
|
||
Production fuel, at weighted average cost
|
60.2
|
|
|
52.7
|
|
||
Gas stored underground, at weighted average cost
|
18.2
|
|
|
30.8
|
|
||
Materials and supplies, at weighted average cost
|
45.7
|
|
|
42.0
|
|
||
Regulatory assets
|
39.6
|
|
|
38.7
|
|
||
Deferred tax assets
|
—
|
|
|
104.0
|
|
||
Other
|
28.2
|
|
|
65.0
|
|
||
Total current assets
|
396.4
|
|
|
555.2
|
|
||
Property, plant and equipment, net
|
4,925.1
|
|
|
4,554.7
|
|
||
Investments
|
19.6
|
|
|
19.1
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,363.0
|
|
|
1,319.2
|
|
||
Deferred charges and other
|
5.0
|
|
|
2.0
|
|
||
Total other assets
|
1,368.0
|
|
|
1,321.2
|
|
||
Total assets
|
|
$6,709.1
|
|
|
|
$6,450.2
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$—
|
|
|
|
$150.0
|
|
Accounts payable
|
197.2
|
|
|
259.6
|
|
||
Accounts payable to associated companies
|
37.7
|
|
|
31.3
|
|
||
Regulatory liabilities
|
130.9
|
|
|
129.7
|
|
||
Accrued taxes
|
67.6
|
|
|
45.3
|
|
||
Accrued interest
|
28.2
|
|
|
25.4
|
|
||
Other
|
69.5
|
|
|
64.6
|
|
||
Total current liabilities
|
531.1
|
|
|
705.9
|
|
||
Long-term debt, net (excluding current portion)
|
1,856.9
|
|
|
1,608.0
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
1,378.0
|
|
|
1,370.3
|
|
||
Regulatory liabilities
|
358.3
|
|
|
453.8
|
|
||
Pension and other benefit obligations
|
160.2
|
|
|
142.4
|
|
||
Other
|
229.3
|
|
|
185.5
|
|
||
Total other liabilities
|
2,125.8
|
|
|
2,152.0
|
|
||
Commitments and contingencies (
Note 16
)
|
|
|
|
||||
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
|
1,407.8
|
|
|
1,242.8
|
|
||
Retained earnings
|
554.1
|
|
|
508.1
|
|
||
Total Interstate Power and Light Company common equity
|
1,995.3
|
|
|
1,784.3
|
|
||
Cumulative preferred stock
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
2,195.3
|
|
|
1,984.3
|
|
||
Total liabilities and equity
|
|
$6,709.1
|
|
|
|
$6,450.2
|
|
|
Year Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
|
(in millions)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net income
|
|
$196.2
|
|
|
|
$191.8
|
|
|
|
$188.3
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
207.2
|
|
|
197.5
|
|
|
191.1
|
|
|||
Deferred tax expense (benefit) and investment tax credits
|
28.9
|
|
|
(11.5
|
)
|
|
3.0
|
|
|||
Equity component of allowance for funds used during construction
|
(18.6
|
)
|
|
(17.1
|
)
|
|
(13.8
|
)
|
|||
Other
|
19.5
|
|
|
11.3
|
|
|
(0.7
|
)
|
|||
Other changes in assets and liabilities:
|
|
|
|
|
|
||||||
Accounts receivable
|
20.4
|
|
|
43.3
|
|
|
(55.9
|
)
|
|||
Sales of accounts receivable
|
(17.0
|
)
|
|
(7.0
|
)
|
|
(101.0
|
)
|
|||
Regulatory assets
|
(76.3
|
)
|
|
(272.9
|
)
|
|
71.4
|
|
|||
Accounts payable
|
(42.7
|
)
|
|
18.8
|
|
|
25.6
|
|
|||
Regulatory liabilities
|
(75.5
|
)
|
|
(18.9
|
)
|
|
(82.3
|
)
|
|||
Deferred taxes
|
82.1
|
|
|
140.4
|
|
|
92.4
|
|
|||
Pension and other benefit obligations
|
17.8
|
|
|
93.8
|
|
|
(74.3
|
)
|
|||
Other
|
43.0
|
|
|
36.6
|
|
|
(11.2
|
)
|
|||
Net cash flows from operating activities
|
385.0
|
|
|
406.1
|
|
|
232.6
|
|
|||
Cash flows used for investing activities:
|
|
|
|
|
|
||||||
Utility construction and acquisition expenditures
|
(619.3
|
)
|
|
(526.0
|
)
|
|
(400.2
|
)
|
|||
Proceeds from Minnesota electric and natural gas distribution asset sales
|
139.9
|
|
|
—
|
|
|
—
|
|
|||
Other
|
(32.5
|
)
|
|
(26.7
|
)
|
|
(23.1
|
)
|
|||
Net cash flows used for investing activities
|
(511.9
|
)
|
|
(552.7
|
)
|
|
(423.3
|
)
|
|||
Cash flows from financing activities:
|
|
|
|
|
|
||||||
Common stock dividends
|
(140.0
|
)
|
|
(140.0
|
)
|
|
(128.1
|
)
|
|||
Capital contributions from parent
|
165.0
|
|
|
90.0
|
|
|
120.0
|
|
|||
Payments to redeem cumulative preferred stock
|
—
|
|
|
—
|
|
|
(150.0
|
)
|
|||
Proceeds from issuance of cumulative preferred stock
|
—
|
|
|
—
|
|
|
200.0
|
|
|||
Proceeds from issuance of long-term debt
|
250.0
|
|
|
250.0
|
|
|
250.0
|
|
|||
Payments to retire long-term debt
|
(150.0
|
)
|
|
(38.4
|
)
|
|
—
|
|
|||
Net change in commercial paper
|
—
|
|
|
—
|
|
|
(76.3
|
)
|
|||
Other
|
1.1
|
|
|
(14.1
|
)
|
|
(25.0
|
)
|
|||
Net cash flows from financing activities
|
126.1
|
|
|
147.5
|
|
|
190.6
|
|
|||
Net increase (decrease) in cash and cash equivalents
|
(0.8
|
)
|
|
0.9
|
|
|
(0.1
|
)
|
|||
Cash and cash equivalents at beginning of period
|
5.3
|
|
|
4.4
|
|
|
4.5
|
|
|||
Cash and cash equivalents at end of period
|
|
$4.5
|
|
|
|
$5.3
|
|
|
|
$4.4
|
|
Supplemental cash flows information:
|
|
|
|
|
|
||||||
Cash (paid) refunded during the period for:
|
|
|
|
|
|
||||||
Interest
|
|
($93.9
|
)
|
|
|
($89.8
|
)
|
|
|
($80.7
|
)
|
Income taxes, net
|
|
$19.3
|
|
|
|
$20.1
|
|
|
|
$0.1
|
|
Significant non-cash investing and financing activities:
|
|
|
|
|
|
||||||
Accrued capital expenditures
|
|
$77.0
|
|
|
|
$113.2
|
|
|
|
$58.1
|
|
|
|
|
|
|
|
|
Total
|
||||||||
|
|
|
Additional
|
|
|
|
IPL
|
||||||||
|
Common
|
|
Paid-In
|
|
Retained
|
|
Common
|
||||||||
|
Stock
|
|
Capital
|
|
Earnings
|
|
Equity
|
||||||||
|
(in millions)
|
||||||||||||||
2013:
|
|
|
|
|
|
|
|
||||||||
Beginning balance
|
|
$33.4
|
|
|
|
$1,037.8
|
|
|
|
$415.2
|
|
|
|
$1,486.4
|
|
Earnings available for common stock
|
|
|
|
|
172.0
|
|
|
172.0
|
|
||||||
Common stock dividends
|
|
|
|
|
(128.1
|
)
|
|
(128.1
|
)
|
||||||
Capital contribution from parent
|
|
|
120.0
|
|
|
|
|
120.0
|
|
||||||
Preferred stock issuance costs
|
|
|
(5.4
|
)
|
|
|
|
(5.4
|
)
|
||||||
Other
|
|
|
0.4
|
|
|
2.8
|
|
|
3.2
|
|
|||||
Ending balance
|
33.4
|
|
|
1,152.8
|
|
|
461.9
|
|
|
1,648.1
|
|
||||
2014:
|
|
|
|
|
|
|
|
||||||||
Earnings available for common stock
|
|
|
|
|
181.6
|
|
|
181.6
|
|
||||||
Common stock dividends
|
|
|
|
|
(140.0
|
)
|
|
(140.0
|
)
|
||||||
Capital contribution from parent
|
|
|
90.0
|
|
|
|
|
90.0
|
|
||||||
Other
|
|
|
|
|
4.6
|
|
|
4.6
|
|
||||||
Ending balance
|
33.4
|
|
|
1,242.8
|
|
|
508.1
|
|
|
1,784.3
|
|
||||
2015:
|
|
|
|
|
|
|
|
||||||||
Earnings available for common stock
|
|
|
|
|
186.0
|
|
|
186.0
|
|
||||||
Common stock dividends
|
|
|
|
|
(140.0
|
)
|
|
(140.0
|
)
|
||||||
Capital contribution from parent
|
|
|
165.0
|
|
|
|
|
165.0
|
|
||||||
Ending balance
|
|
$33.4
|
|
|
|
$1,407.8
|
|
|
|
$554.1
|
|
|
|
$1,995.3
|
|
|
Year Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
|
(in millions)
|
||||||||||
Operating revenues:
|
|
|
|
|
|
||||||
Electric utility
|
|
$1,266.7
|
|
|
|
$1,220.3
|
|
|
|
$1,197.2
|
|
Gas utility
|
163.9
|
|
|
221.0
|
|
|
190.9
|
|
|||
Other
|
4.5
|
|
|
7.8
|
|
|
18.2
|
|
|||
Total operating revenues
|
1,435.1
|
|
|
1,449.1
|
|
|
1,406.3
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Electric production fuel and purchased power
|
409.3
|
|
|
379.9
|
|
|
404.5
|
|
|||
Electric transmission service
|
157.1
|
|
|
124.1
|
|
|
116.9
|
|
|||
Cost of gas sold
|
95.8
|
|
|
142.3
|
|
|
116.4
|
|
|||
Other operation and maintenance
|
235.4
|
|
|
277.2
|
|
|
258.4
|
|
|||
Depreciation and amortization
|
184.3
|
|
|
181.2
|
|
|
172.2
|
|
|||
Taxes other than income taxes
|
44.5
|
|
|
43.4
|
|
|
41.8
|
|
|||
Total operating expenses
|
1,126.4
|
|
|
1,148.1
|
|
|
1,110.2
|
|
|||
Operating income
|
308.7
|
|
|
301.0
|
|
|
296.1
|
|
|||
Interest expense and other:
|
|
|
|
|
|
||||||
Interest expense
|
92.4
|
|
|
86.4
|
|
|
85.0
|
|
|||
Equity income from unconsolidated investments
|
(35.1
|
)
|
|
(42.8
|
)
|
|
(43.7
|
)
|
|||
Allowance for funds used during construction
|
(8.7
|
)
|
|
(8.9
|
)
|
|
(9.8
|
)
|
|||
Interest income and other
|
(0.4
|
)
|
|
(0.1
|
)
|
|
(0.1
|
)
|
|||
Total interest expense and other
|
48.2
|
|
|
34.6
|
|
|
31.4
|
|
|||
Income before income taxes
|
260.5
|
|
|
266.4
|
|
|
264.7
|
|
|||
Income taxes
|
82.9
|
|
|
85.3
|
|
|
85.6
|
|
|||
Net income
|
177.6
|
|
|
181.1
|
|
|
179.1
|
|
|||
Net income attributable to noncontrolling interest
|
1.3
|
|
|
0.7
|
|
|
—
|
|
|||
Preferred dividend requirements
|
—
|
|
|
—
|
|
|
1.6
|
|
|||
Earnings available for common stock
|
|
$176.3
|
|
|
|
$180.4
|
|
|
|
$177.5
|
|
|
December 31,
|
||||||
|
2015
|
|
2014
|
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$0.4
|
|
|
|
$46.7
|
|
Accounts receivable, less allowance for doubtful accounts
|
185.4
|
|
|
185.8
|
|
||
Production fuel, at weighted average cost
|
38.6
|
|
|
31.1
|
|
||
Gas stored underground, at weighted average cost
|
25.1
|
|
|
36.3
|
|
||
Materials and supplies, at weighted average cost
|
33.5
|
|
|
29.2
|
|
||
Regulatory assets
|
80.6
|
|
|
29.4
|
|
||
Prepaid gross receipts tax
|
39.2
|
|
|
38.0
|
|
||
Deferred tax assets
|
—
|
|
|
37.7
|
|
||
Other
|
20.7
|
|
|
23.2
|
|
||
Total current assets
|
423.5
|
|
|
457.4
|
|
||
Property, plant and equipment, net
|
4,103.7
|
|
|
3,938.9
|
|
||
Investments:
|
|
|
|
||||
Investment in American Transmission Company LLC
|
293.3
|
|
|
286.5
|
|
||
Other
|
15.4
|
|
|
19.5
|
|
||
Total investments
|
308.7
|
|
|
306.0
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
425.4
|
|
|
396.4
|
|
||
Deferred charges and other
|
9.1
|
|
|
18.9
|
|
||
Total other assets
|
434.5
|
|
|
415.3
|
|
||
Total assets
|
|
$5,270.4
|
|
|
|
$5,117.6
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$—
|
|
|
|
$30.6
|
|
Commercial paper
|
19.9
|
|
|
—
|
|
||
Accounts payable
|
136.0
|
|
|
112.9
|
|
||
Accounts payable to associated companies
|
21.6
|
|
|
25.5
|
|
||
Regulatory liabilities
|
56.2
|
|
|
70.4
|
|
||
Accrued interest
|
23.7
|
|
|
24.3
|
|
||
Other
|
79.5
|
|
|
46.6
|
|
||
Total current liabilities
|
336.9
|
|
|
310.3
|
|
||
Long-term debt, net (excluding current portion)
|
1,533.9
|
|
|
1,532.5
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
1,005.4
|
|
|
967.1
|
|
||
Regulatory liabilities
|
192.3
|
|
|
167.3
|
|
||
Capital lease obligations - Sheboygan Falls Energy Facility
|
83.6
|
|
|
89.4
|
|
||
Pension and other benefit obligations
|
188.7
|
|
|
180.4
|
|
||
Other
|
162.0
|
|
|
155.2
|
|
||
Total other liabilities
|
1,632.0
|
|
|
1,559.4
|
|
||
Commitments and contingencies (
Note 16
)
|
|
|
|
||||
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
|
731.1
|
|
|
681.7
|
|
||
Total Wisconsin Power and Light Company common equity
|
1,756.3
|
|
|
1,706.9
|
|
||
Noncontrolling interest
|
11.3
|
|
|
8.5
|
|
||
Total equity
|
1,767.6
|
|
|
1,715.4
|
|
||
Total liabilities and equity
|
|
$5,270.4
|
|
|
|
$5,117.6
|
|
|
Year Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
|
(in millions)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net income
|
|
$177.6
|
|
|
|
$181.1
|
|
|
|
$179.1
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
184.3
|
|
|
181.2
|
|
|
172.2
|
|
|||
Other amortizations
|
5.3
|
|
|
47.3
|
|
|
29.5
|
|
|||
Deferred tax expense and investment tax credits
|
77.6
|
|
|
82.6
|
|
|
89.8
|
|
|||
Equity income from unconsolidated investments
|
(35.1
|
)
|
|
(42.8
|
)
|
|
(43.7
|
)
|
|||
Distributions from equity method investments
|
30.6
|
|
|
36.4
|
|
|
35.4
|
|
|||
Other
|
(5.7
|
)
|
|
(7.2
|
)
|
|
(6.7
|
)
|
|||
Other changes in assets and liabilities:
|
|
|
|
|
|
||||||
Regulatory assets
|
(28.2
|
)
|
|
(166.9
|
)
|
|
69.1
|
|
|||
Regulatory liabilities
|
7.7
|
|
|
29.7
|
|
|
(8.5
|
)
|
|||
Pension and other benefit obligations
|
8.3
|
|
|
92.0
|
|
|
(71.3
|
)
|
|||
Other
|
27.4
|
|
|
(9.0
|
)
|
|
(21.6
|
)
|
|||
Net cash flows from operating activities
|
449.8
|
|
|
424.4
|
|
|
423.3
|
|
|||
Cash flows used for investing activities:
|
|
|
|
|
|
||||||
Utility construction and acquisition expenditures
|
(344.3
|
)
|
|
(312.9
|
)
|
|
(331.4
|
)
|
|||
Other
|
(13.9
|
)
|
|
(7.2
|
)
|
|
(4.5
|
)
|
|||
Net cash flows used for investing activities
|
(358.2
|
)
|
|
(320.1
|
)
|
|
(335.9
|
)
|
|||
Cash flows used for financing activities:
|
|
|
|
|
|
||||||
Common stock dividends
|
(126.9
|
)
|
|
(118.7
|
)
|
|
(116.3
|
)
|
|||
Payments to redeem cumulative preferred stock
|
—
|
|
|
—
|
|
|
(61.0
|
)
|
|||
Proceeds from issuance of long-term debt
|
—
|
|
|
250.0
|
|
|
—
|
|
|||
Net change in commercial paper
|
19.9
|
|
|
(183.7
|
)
|
|
97.1
|
|
|||
Other
|
(30.9
|
)
|
|
(5.7
|
)
|
|
(7.4
|
)
|
|||
Net cash flows used for financing activities
|
(137.9
|
)
|
|
(58.1
|
)
|
|
(87.6
|
)
|
|||
Net increase (decrease) in cash and cash equivalents
|
(46.3
|
)
|
|
46.2
|
|
|
(0.2
|
)
|
|||
Cash and cash equivalents at beginning of period
|
46.7
|
|
|
0.5
|
|
|
0.7
|
|
|||
Cash and cash equivalents at end of period
|
|
$0.4
|
|
|
|
$46.7
|
|
|
|
$0.5
|
|
Supplemental cash flows information:
|
|
|
|
|
|
||||||
Cash paid during the period for:
|
|
|
|
|
|
||||||
Interest
|
|
($93.1
|
)
|
|
|
($84.6
|
)
|
|
|
($85.0
|
)
|
Income taxes, net
|
|
($7.4
|
)
|
|
|
($12.2
|
)
|
|
|
($22.9
|
)
|
Significant non-cash investing and financing activities:
|
|
|
|
|
|
||||||
Accrued capital expenditures
|
|
$55.2
|
|
|
|
$38.4
|
|
|
|
$37.7
|
|
|
Total WPL Common Equity
|
|
|
|
|
||||||||||||||
|
|
|
Additional
|
|
|
|
|
|
|
||||||||||
|
Common
|
|
Paid-In
|
|
Retained
|
|
Noncontrolling
|
|
Total
|
||||||||||
|
Stock
|
|
Capital
|
|
Earnings
|
|
Interest
|
|
Equity
|
||||||||||
|
(in millions)
|
||||||||||||||||||
2013:
|
|
|
|
|
|
|
|
|
|
||||||||||
Beginning balance
|
|
$66.2
|
|
|
|
$959.2
|
|
|
|
$565.9
|
|
|
|
$—
|
|
|
|
$1,591.3
|
|
Earnings available for common stock
|
|
|
|
|
177.5
|
|
|
|
|
177.5
|
|
||||||||
Common stock dividends
|
|
|
|
|
(116.3
|
)
|
|
|
|
(116.3
|
)
|
||||||||
Other
|
|
|
(0.2
|
)
|
|
(4.9
|
)
|
|
|
|
(5.1
|
)
|
|||||||
Ending balance
|
66.2
|
|
|
959.0
|
|
|
622.2
|
|
|
—
|
|
|
1,647.4
|
|
|||||
2014:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net income
|
|
|
|
|
180.4
|
|
|
0.7
|
|
|
181.1
|
|
|||||||
Common stock dividends
|
|
|
|
|
(118.7
|
)
|
|
|
|
(118.7
|
)
|
||||||||
Contributions from noncontrolling interest
|
|
|
|
|
|
|
8.6
|
|
|
8.6
|
|
||||||||
Distributions to noncontrolling interest
|
|
|
|
|
|
|
(0.8
|
)
|
|
(0.8
|
)
|
||||||||
Other
|
|
|
|
|
(2.2
|
)
|
|
|
|
(2.2
|
)
|
||||||||
Ending balance
|
66.2
|
|
|
959.0
|
|
|
681.7
|
|
|
8.5
|
|
|
1,715.4
|
|
|||||
2015:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net income
|
|
|
|
|
176.3
|
|
|
1.3
|
|
|
177.6
|
|
|||||||
Common stock dividends
|
|
|
|
|
(126.9
|
)
|
|
|
|
(126.9
|
)
|
||||||||
Contributions from noncontrolling interest
|
|
|
|
|
|
|
3.4
|
|
|
3.4
|
|
||||||||
Distributions to noncontrolling interest
|
|
|
|
|
|
|
(1.9
|
)
|
|
(1.9
|
)
|
||||||||
Ending balance
|
|
$66.2
|
|
|
|
$959.0
|
|
|
|
$731.1
|
|
|
|
$11.3
|
|
|
|
$1,767.6
|
|
|
IPL
|
|
WPL
|
||||||||
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
Electric - generation
|
3.6%
|
|
3.6%
|
|
3.6%
|
|
3.2%
|
|
3.2%
|
|
3.3%
|
Electric - distribution
|
2.4%
|
|
2.5%
|
|
2.5%
|
|
2.7%
|
|
2.7%
|
|
2.7%
|
Electric - other
|
4.0%
|
|
4.0%
|
|
4.0%
|
|
4.5%
|
|
5.9%
|
|
5.0%
|
Gas
|
3.2%
|
|
3.3%
|
|
3.4%
|
|
2.5%
|
|
2.5%
|
|
2.5%
|
Other
|
3.9%
|
|
4.3%
|
|
4.7%
|
|
6.0%
|
|
6.0%
|
|
5.1%
|
(a)
|
In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a
10.3%
return on common equity for the calculation of AFUDC related to the construction of such facility.
|
Alliant Energy
|
Originally
|
|
Effect of New
|
|
As
|
||||||
Balance Sheet as of December 31, 2014
|
Reported
|
|
Accounting Standard
|
|
Adjusted
|
||||||
Deferred charges and other
|
|
$43.9
|
|
|
|
($22.4
|
)
|
|
|
$21.5
|
|
Total other assets
|
1,759.5
|
|
|
(22.4
|
)
|
|
1,737.1
|
|
|||
Total assets
|
12,085.9
|
|
|
(22.4
|
)
|
|
12,063.5
|
|
|||
Long-term debt, net (excluding current portion)
|
3,606.7
|
|
|
(22.4
|
)
|
|
3,584.3
|
|
|||
Total liabilities and equity
|
12,085.9
|
|
|
(22.4
|
)
|
|
12,063.5
|
|
IPL
|
2014
|
|
2013
|
||||||||||||||||||||
Income Statements
|
|
|
Effect of Change in
|
|
|
|
|
|
Effect of Change in
|
|
|
||||||||||||
|
Originally
|
|
Method of Calculating
|
|
As
|
|
Originally
|
|
Method of Calculating
|
|
As
|
||||||||||||
|
Reported
|
|
Income Taxes
|
|
Adjusted
|
|
Reported
|
|
Income Taxes
|
|
Adjusted
|
||||||||||||
Income tax benefit
|
|
($51.7
|
)
|
|
|
$2.8
|
|
|
|
($48.9
|
)
|
|
|
($37.9
|
)
|
|
|
$1.6
|
|
|
|
($36.3
|
)
|
Net income
|
194.6
|
|
|
(2.8
|
)
|
|
191.8
|
|
|
189.9
|
|
|
(1.6
|
)
|
|
188.3
|
|
||||||
Earnings available for common stock
|
184.4
|
|
|
(2.8
|
)
|
|
181.6
|
|
|
173.6
|
|
|
(1.6
|
)
|
|
172.0
|
|
IPL
|
|
|
Effect of New
|
|
Effect of Change in
|
|
|
||||||||
Balance Sheets
|
Originally
|
|
Accounting
|
|
Method of Calculating
|
|
As
|
||||||||
December 31, 2014
|
Reported
|
|
Standard
|
|
Income Taxes
|
|
Adjusted
|
||||||||
Deferred tax assets
|
|
$104.9
|
|
|
|
$—
|
|
|
|
($0.9
|
)
|
|
|
$104.0
|
|
Total current assets
|
556.1
|
|
|
—
|
|
|
(0.9
|
)
|
|
555.2
|
|
||||
Deferred charges and other
|
12.7
|
|
|
(10.7
|
)
|
|
—
|
|
|
2.0
|
|
||||
Total other assets
|
1,331.9
|
|
|
(10.7
|
)
|
|
—
|
|
|
1,321.2
|
|
||||
Total assets
|
6,461.8
|
|
|
(10.7
|
)
|
|
(0.9
|
)
|
|
6,450.2
|
|
||||
Long-term debt, net (excluding current portion)
|
1,618.7
|
|
|
(10.7
|
)
|
|
—
|
|
|
1,608.0
|
|
||||
Deferred tax liabilities
|
1,341.4
|
|
|
—
|
|
|
28.9
|
|
|
1,370.3
|
|
||||
Total other liabilities
|
2,123.1
|
|
|
—
|
|
|
28.9
|
|
|
2,152.0
|
|
||||
Retained earnings
|
537.9
|
|
|
—
|
|
|
(29.8
|
)
|
|
508.1
|
|
||||
Total IPL common equity
|
1,814.1
|
|
|
—
|
|
|
(29.8
|
)
|
|
1,784.3
|
|
||||
Total equity
|
2,014.1
|
|
|
—
|
|
|
(29.8
|
)
|
|
1,984.3
|
|
||||
Total liabilities and equity
|
6,461.8
|
|
|
(10.7
|
)
|
|
(0.9
|
)
|
|
6,450.2
|
|
||||
January 1, 2014
|
|
|
|
|
|
|
|
||||||||
Retained earnings
|
493.5
|
|
|
—
|
|
|
(31.6
|
)
|
|
461.9
|
|
||||
January 1, 2013
|
|
|
|
|
|
|
|
||||||||
Retained earnings
|
448.0
|
|
|
—
|
|
|
(32.8
|
)
|
|
415.2
|
|
IPL
|
2014
|
|
2013
|
||||||||||||||||||||
Cash Flows
|
|
|
Effect of Change in
|
|
|
|
|
|
Effect of Change in
|
|
|
||||||||||||
|
Originally
|
|
Method of Calculating
|
|
As
|
|
Originally
|
|
Method of Calculating
|
|
As
|
||||||||||||
|
Reported
|
|
Income Taxes
|
|
Adjusted
|
|
Reported
|
|
Income Taxes
|
|
Adjusted
|
||||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income
|
|
$194.6
|
|
|
|
($2.8
|
)
|
|
|
$191.8
|
|
|
|
$189.9
|
|
|
|
($1.6
|
)
|
|
|
$188.3
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Deferred tax expense (benefit) and investment tax credits
|
(9.7
|
)
|
|
(1.8
|
)
|
|
(11.5
|
)
|
|
4.2
|
|
|
(1.2
|
)
|
|
3.0
|
|
||||||
Other changes in assets and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Other
|
32.0
|
|
|
4.6
|
|
|
36.6
|
|
|
(14.0
|
)
|
|
2.8
|
|
|
(11.2
|
)
|
WPL
|
2014
|
|
2013
|
||||||||||||||||||||
Income Statements
|
|
|
Effect of Change in
|
|
|
|
|
|
Effect of Change in
|
|
|
||||||||||||
|
Originally
|
|
Method of Calculating
|
|
As
|
|
Originally
|
|
Method of Calculating
|
|
As
|
||||||||||||
|
Reported
|
|
Income Taxes
|
|
Adjusted
|
|
Reported
|
|
Income Taxes
|
|
Adjusted
|
||||||||||||
Income taxes
|
|
$85.6
|
|
|
|
($0.3
|
)
|
|
|
$85.3
|
|
|
|
$87.2
|
|
|
|
($1.6
|
)
|
|
|
$85.6
|
|
Net income
|
180.8
|
|
|
0.3
|
|
|
181.1
|
|
|
177.5
|
|
|
1.6
|
|
|
179.1
|
|
||||||
Earnings available for common stock
|
180.1
|
|
|
0.3
|
|
|
180.4
|
|
|
175.9
|
|
|
1.6
|
|
|
177.5
|
|
WPL
|
|
|
Effect of New
|
|
Effect of Change in
|
|
|
||||||||
Balance Sheets
|
Originally
|
|
Accounting
|
|
Method of Calculating
|
|
As
|
||||||||
December 31, 2014
|
Reported
|
|
Standard
|
|
Income Taxes
|
|
Adjusted
|
||||||||
Deferred tax assets
|
|
$37.5
|
|
|
|
$—
|
|
|
|
$0.2
|
|
|
|
$37.7
|
|
Total current assets
|
457.2
|
|
|
—
|
|
|
0.2
|
|
|
457.4
|
|
||||
Deferred charges and other
|
29.7
|
|
|
(10.8
|
)
|
|
—
|
|
|
18.9
|
|
||||
Total other assets
|
426.1
|
|
|
(10.8
|
)
|
|
—
|
|
|
415.3
|
|
||||
Total assets
|
5,128.2
|
|
|
(10.8
|
)
|
|
0.2
|
|
|
5,117.6
|
|
||||
Long-term debt, net (excluding current portion)
|
1,543.3
|
|
|
(10.8
|
)
|
|
—
|
|
|
1,532.5
|
|
||||
Deferred tax liabilities
|
970.0
|
|
|
—
|
|
|
(2.9
|
)
|
|
967.1
|
|
||||
Total other liabilities
|
1,562.3
|
|
|
—
|
|
|
(2.9
|
)
|
|
1,559.4
|
|
||||
Retained earnings
|
678.6
|
|
|
—
|
|
|
3.1
|
|
|
681.7
|
|
||||
Total WPL common equity
|
1,703.8
|
|
|
—
|
|
|
3.1
|
|
|
1,706.9
|
|
||||
Total equity
|
1,712.3
|
|
|
—
|
|
|
3.1
|
|
|
1,715.4
|
|
||||
Total liabilities and equity
|
5,128.2
|
|
|
(10.8
|
)
|
|
0.2
|
|
|
5,117.6
|
|
||||
January 1, 2014
|
|
|
|
|
|
|
|
||||||||
Retained earnings
|
617.2
|
|
|
—
|
|
|
5.0
|
|
|
622.2
|
|
||||
January 1, 2013
|
|
|
|
|
|
|
|
||||||||
Retained earnings
|
557.6
|
|
|
—
|
|
|
8.3
|
|
|
565.9
|
|
WPL
|
2014
|
|
2013
|
||||||||||||||||||||
Cash Flows
|
|
|
Effect of Change in
|
|
|
|
|
|
Effect of Change in
|
|
|
||||||||||||
|
Originally
|
|
Method of Calculating
|
|
As
|
|
Originally
|
|
Method of Calculating
|
|
As
|
||||||||||||
|
Reported
|
|
Income Taxes
|
|
Adjusted
|
|
Reported
|
|
Income Taxes
|
|
Adjusted
|
||||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income
|
|
$180.8
|
|
|
|
$0.3
|
|
|
|
$181.1
|
|
|
|
$177.5
|
|
|
|
$1.6
|
|
|
|
$179.1
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Deferred tax expense and investment tax credits
|
80.7
|
|
|
1.9
|
|
|
82.6
|
|
|
86.5
|
|
|
3.3
|
|
|
89.8
|
|
||||||
Other changes in assets and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Other
|
(6.8
|
)
|
|
(2.2
|
)
|
|
(9.0
|
)
|
|
(16.7
|
)
|
|
(4.9
|
)
|
|
(21.6
|
)
|
IPL
|
As Computed Under
|
|
As Reported Under
|
|
|
||||||
Balance Sheet as of December 31, 2015
|
Parent-company-down
|
|
Modified Separate
|
|
Effect of
|
||||||
|
Approach
|
|
Return Approach
|
|
Change
|
||||||
Deferred tax liabilities
|
|
$1,346.7
|
|
|
|
$1,378.0
|
|
|
|
$31.3
|
|
Total other liabilities
|
2,094.5
|
|
|
2,125.8
|
|
|
31.3
|
|
|||
Retained earnings
|
585.4
|
|
|
554.1
|
|
|
(31.3
|
)
|
|||
Total IPL common equity
|
2,026.6
|
|
|
1,995.3
|
|
|
(31.3
|
)
|
|||
Total equity
|
2,226.6
|
|
|
2,195.3
|
|
|
(31.3
|
)
|
WPL
|
As Computed Under
|
|
As Reported Under
|
|
|
||||||
Balance Sheet as of December 31, 2015
|
Parent-company-down
|
|
Modified Separate
|
|
Effect of
|
||||||
|
Approach
|
|
Return Approach
|
|
Change
|
||||||
Other current liabilities
|
|
$78.2
|
|
|
|
$79.5
|
|
|
|
$1.3
|
|
Total current liabilities
|
335.6
|
|
|
336.9
|
|
|
1.3
|
|
|||
Deferred tax liabilities
|
1,010.8
|
|
|
1,005.4
|
|
|
(5.4
|
)
|
|||
Total other liabilities
|
1,637.4
|
|
|
1,632.0
|
|
|
(5.4
|
)
|
|||
Retained earnings
|
727.0
|
|
|
731.1
|
|
|
4.1
|
|
|||
Total WPL common equity
|
1,752.2
|
|
|
1,756.3
|
|
|
4.1
|
|
|||
Total equity
|
1,763.5
|
|
|
1,767.6
|
|
|
4.1
|
|
|
March 31, 2015
|
|
June 30, 2015
|
|
September 30, 2015
|
||||||||||||||||||
|
Originally
|
|
As
|
|
Originally
|
|
As
|
|
Originally
|
|
As
|
||||||||||||
|
Reported
|
|
Adjusted
|
|
Reported
|
|
Adjusted
|
|
Reported
|
|
Adjusted
|
||||||||||||
IPL
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income
|
|
$50.4
|
|
|
|
$50.1
|
|
|
|
$19.2
|
|
|
|
$19.0
|
|
|
|
$120.0
|
|
|
|
$119.1
|
|
Earnings available for common stock
|
47.8
|
|
|
47.5
|
|
|
16.7
|
|
|
16.5
|
|
|
117.4
|
|
|
116.5
|
|
||||||
WPL
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income
|
44.8
|
|
|
45.1
|
|
|
39.5
|
|
|
39.7
|
|
|
67.9
|
|
|
68.4
|
|
||||||
Earnings available for common stock
|
44.6
|
|
|
44.9
|
|
|
39.0
|
|
|
39.2
|
|
|
67.5
|
|
|
68.0
|
|
|
March 31, 2014
|
|
June 30, 2014
|
|
September 30, 2014
|
|
December 31, 2014
|
||||||||||||||||||||||||
|
Originally
|
|
As
|
|
Originally
|
|
As
|
|
Originally
|
|
As
|
|
Originally
|
|
As
|
||||||||||||||||
|
Reported
|
|
Adjusted
|
|
Reported
|
|
Adjusted
|
|
Reported
|
|
Adjusted
|
|
Reported
|
|
Adjusted
|
||||||||||||||||
IPL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Net income
|
|
$46.0
|
|
|
|
$45.3
|
|
|
|
$20.9
|
|
|
|
$20.5
|
|
|
|
$105.1
|
|
|
|
$104.6
|
|
|
|
$22.6
|
|
|
|
$21.4
|
|
Earnings available for common stock
|
43.4
|
|
|
42.7
|
|
|
18.4
|
|
|
18.0
|
|
|
102.5
|
|
|
102.0
|
|
|
20.1
|
|
|
18.9
|
|
||||||||
WPL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Net income
|
54.8
|
|
|
55.2
|
|
|
34.6
|
|
|
34.7
|
|
|
61.6
|
|
|
57.9
|
|
|
29.8
|
|
|
33.3
|
|
||||||||
Earnings available for common stock
|
54.8
|
|
|
55.2
|
|
|
34.6
|
|
|
34.7
|
|
|
61.6
|
|
|
57.9
|
|
|
29.1
|
|
|
32.6
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||
Tax-related
|
|
$987.7
|
|
|
|
$955.3
|
|
|
|
$958.2
|
|
|
|
$928.0
|
|
|
|
$29.5
|
|
|
|
$27.3
|
|
Pension and OPEB costs
|
579.5
|
|
|
570.2
|
|
|
298.1
|
|
|
287.9
|
|
|
281.4
|
|
|
282.3
|
|
||||||
AROs
|
92.4
|
|
|
73.7
|
|
|
50.8
|
|
|
41.4
|
|
|
41.6
|
|
|
32.3
|
|
||||||
Derivatives
|
70.6
|
|
|
46.9
|
|
|
28.2
|
|
|
28.0
|
|
|
42.4
|
|
|
18.9
|
|
||||||
WPL’s EGUs retired early
|
45.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
45.0
|
|
|
—
|
|
||||||
Commodity cost recovery
|
35.9
|
|
|
31.1
|
|
|
2.8
|
|
|
0.4
|
|
|
33.1
|
|
|
30.7
|
|
||||||
Emission allowances
|
26.9
|
|
|
27.4
|
|
|
26.9
|
|
|
27.4
|
|
|
—
|
|
|
—
|
|
||||||
Environmental-related costs
|
16.4
|
|
|
16.0
|
|
|
11.0
|
|
|
11.5
|
|
|
5.4
|
|
|
4.5
|
|
||||||
Debt redemption costs
|
14.3
|
|
|
16.1
|
|
|
9.5
|
|
|
10.9
|
|
|
4.8
|
|
|
5.2
|
|
||||||
Other
|
39.9
|
|
|
47.0
|
|
|
17.1
|
|
|
22.4
|
|
|
22.8
|
|
|
24.6
|
|
||||||
|
|
$1,908.6
|
|
|
|
$1,783.7
|
|
|
|
$1,402.6
|
|
|
|
$1,357.9
|
|
|
|
$506.0
|
|
|
|
$425.8
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||
Cost of removal obligations
|
|
$406.0
|
|
|
|
$421.7
|
|
|
|
$260.4
|
|
|
|
$279.1
|
|
|
|
$145.6
|
|
|
|
$142.6
|
|
IPL’s tax benefit riders
|
159.2
|
|
|
243.0
|
|
|
159.2
|
|
|
243.0
|
|
|
—
|
|
|
—
|
|
||||||
Energy efficiency cost recovery
|
48.3
|
|
|
64.3
|
|
|
—
|
|
|
—
|
|
|
48.3
|
|
|
64.3
|
|
||||||
Electric transmission cost recovery
|
43.5
|
|
|
19.4
|
|
|
21.9
|
|
|
19.4
|
|
|
21.6
|
|
|
—
|
|
||||||
Commodity cost recovery
|
37.6
|
|
|
15.4
|
|
|
23.5
|
|
|
15.1
|
|
|
14.1
|
|
|
0.3
|
|
||||||
Other
|
43.1
|
|
|
57.4
|
|
|
24.2
|
|
|
26.9
|
|
|
18.9
|
|
|
30.5
|
|
||||||
|
|
$737.7
|
|
|
|
$821.2
|
|
|
|
$489.2
|
|
|
|
$583.5
|
|
|
|
$248.5
|
|
|
|
$237.7
|
|
Electric tax benefit rider credits
|
|
$72
|
|
Gas tax benefit rider credits
|
12
|
|
|
|
|
$84
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
Credit to IPL’s Iowa retail electric customers’ bills with reduction to electric revenues
|
|
$72
|
|
|
|
$85
|
|
|
|
$79
|
|
Income tax benefit resulting from decreased taxable income caused by credits
|
30
|
|
|
35
|
|
|
33
|
|
|||
Income tax benefit representing tax benefits realized from electric tax benefit rider
|
42
|
|
|
50
|
|
|
46
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
Revenue requirement adjustment
|
|
$14
|
|
|
|
$15
|
|
|
|
$24
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
Credit to IPL’s Iowa retail gas customers’ bills with reduction to gas revenues
|
|
$12
|
|
|
|
$12
|
|
|
|
$11
|
|
Income tax benefit resulting from decreased taxable income caused by credits
|
5
|
|
|
5
|
|
|
4
|
|
|||
Income tax benefit representing tax benefits realized from gas tax benefit rider
|
7
|
|
|
7
|
|
|
7
|
|
|
Actual
|
|
Estimated
|
||||||||
|
2014
|
|
2015
|
|
2016
|
||||||
Billing credits to reduce retail electric customers’ bills
|
|
$72
|
|
|
|
$24
|
|
|
|
$9
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||
Utility:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Electric plant:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
In service:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Generation
|
|
$5,643.7
|
|
|
|
$5,463.0
|
|
|
|
$3,011.6
|
|
|
|
$2,872.4
|
|
|
|
$2,632.1
|
|
|
|
$2,590.6
|
|
Distribution
|
4,489.9
|
|
|
4,435.4
|
|
|
2,447.9
|
|
|
2,471.7
|
|
|
2,042.0
|
|
|
1,963.7
|
|
||||||
Other
|
311.3
|
|
|
309.1
|
|
|
212.2
|
|
|
215.5
|
|
|
99.1
|
|
|
93.6
|
|
||||||
Anticipated to be retired early (a)
|
—
|
|
|
157.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
157.6
|
|
||||||
Total electric plant
|
10,444.9
|
|
|
10,365.1
|
|
|
5,671.7
|
|
|
5,559.6
|
|
|
4,773.2
|
|
|
4,805.5
|
|
||||||
Gas plant in service
|
1,018.3
|
|
|
946.2
|
|
|
513.6
|
|
|
474.0
|
|
|
504.7
|
|
|
472.2
|
|
||||||
Other plant in service
|
530.6
|
|
|
539.3
|
|
|
296.0
|
|
|
298.8
|
|
|
234.6
|
|
|
240.5
|
|
||||||
Accumulated depreciation (a)
|
(3,939.6
|
)
|
|
(3,923.1
|
)
|
|
(2,152.8
|
)
|
|
(2,124.5
|
)
|
|
(1,786.8
|
)
|
|
(1,798.6
|
)
|
||||||
Net plant
|
8,054.2
|
|
|
7,927.5
|
|
|
4,328.5
|
|
|
4,207.9
|
|
|
3,725.7
|
|
|
3,719.6
|
|
||||||
Leased Sheboygan Falls Energy Facility, net (b)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
58.6
|
|
|
64.7
|
|
||||||
Construction work in progress
|
897.5
|
|
|
479.1
|
|
|
578.2
|
|
|
325.0
|
|
|
319.3
|
|
|
154.1
|
|
||||||
Other, net
|
18.5
|
|
|
22.3
|
|
|
18.4
|
|
|
21.8
|
|
|
0.1
|
|
|
0.5
|
|
||||||
Total utility
|
8,970.2
|
|
|
8,428.9
|
|
|
4,925.1
|
|
|
4,554.7
|
|
|
4,103.7
|
|
|
3,938.9
|
|
||||||
Non-regulated and other:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-regulated Generation, net (c)
|
229.3
|
|
|
240.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Corporate Services and other, net (d)
|
319.6
|
|
|
269.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total non-regulated and other
|
548.9
|
|
|
509.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total property, plant and equipment
|
|
$9,519.1
|
|
|
|
$8,938.4
|
|
|
|
$4,925.1
|
|
|
|
$4,554.7
|
|
|
|
$4,103.7
|
|
|
|
$3,938.9
|
|
(a)
|
In December 2015, WPL retired Nelson Dewey Units 1 and 2 and Edgewater Unit 3 and transferred the remaining net book value from property, plant and equipment to regulatory assets pursuant to orders from the PSCW and FERC. Refer to
Note 2
for discussion of the recovery of the remaining net book value of these EGUs.
|
(b)
|
Less accumulated amortization of
$65.2 million
and
$59.1 million
for WPL as of
December 31, 2015
and
2014
, respectively.
|
(c)
|
Less accumulated depreciation of
$59.0 million
and
$49.5 million
for Alliant Energy as of
December 31, 2015
and
2014
, respectively.
|
(d)
|
Less accumulated depreciation of
$252.9 million
and
$229.1 million
for Alliant Energy as of
December 31, 2015
and
2014
, respectively.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
||||||||||||||||||
Equity
|
|
$24.4
|
|
|
|
$23.1
|
|
|
|
$20.3
|
|
|
|
$18.6
|
|
|
|
$17.1
|
|
|
|
$13.8
|
|
|
|
$5.8
|
|
|
|
$6.0
|
|
|
|
$6.5
|
|
Debt
|
12.5
|
|
|
11.7
|
|
|
10.5
|
|
|
9.6
|
|
|
8.8
|
|
|
7.2
|
|
|
2.9
|
|
|
2.9
|
|
|
3.3
|
|
|||||||||
|
|
$36.9
|
|
|
|
$34.8
|
|
|
|
$30.8
|
|
|
|
$28.2
|
|
|
|
$25.9
|
|
|
|
$21.0
|
|
|
|
$8.7
|
|
|
|
$8.9
|
|
|
|
$9.8
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
IPL:
|
|
|
|
|
|
||||||
Marshalltown
|
|
$20.7
|
|
|
|
$3.7
|
|
|
|
$—
|
|
Environmental controls - Ottumwa Unit 1
|
—
|
|
|
10.6
|
|
|
8.0
|
|
|||
Environmental controls - George Neal Units 3 and 4
|
—
|
|
|
1.4
|
|
|
5.1
|
|
|||
Other
|
7.5
|
|
|
10.2
|
|
|
7.9
|
|
|||
|
28.2
|
|
|
25.9
|
|
|
21.0
|
|
|||
WPL:
|
|
|
|
|
|
||||||
Environmental controls - Edgewater Unit 5
|
5.1
|
|
|
2.7
|
|
|
—
|
|
|||
Environmental controls - Columbia Units 1 and 2
|
—
|
|
|
4.0
|
|
|
7.2
|
|
|||
Other
|
3.6
|
|
|
2.2
|
|
|
2.6
|
|
|||
|
8.7
|
|
|
8.9
|
|
|
9.8
|
|
|||
Alliant Energy
|
|
$36.9
|
|
|
|
$34.8
|
|
|
|
$30.8
|
|
|
|
|
|
|
|
|
Accumulated
|
|
Construction
|
|||||||
|
In-service
|
|
Ownership
|
|
Electric
|
|
Provision for
|
|
Work in
|
|||||||
|
Dates
|
|
Interest %
|
|
Plant
|
|
Depreciation
|
|
Progress
|
|||||||
IPL
|
|
|
|
|
|
|
|
|
|
|||||||
Ottumwa Unit 1
|
1981
|
|
48.0
|
%
|
|
|
$481.4
|
|
|
|
$125.0
|
|
|
|
$6.5
|
|
George Neal Unit 4
|
1979
|
|
25.7
|
%
|
|
184.3
|
|
|
76.3
|
|
|
0.2
|
|
|||
George Neal Unit 3
|
1975
|
|
28.0
|
%
|
|
150.0
|
|
|
45.1
|
|
|
0.1
|
|
|||
Louisa Unit 1
|
1983
|
|
4.0
|
%
|
|
36.4
|
|
|
21.1
|
|
|
0.1
|
|
|||
|
|
|
|
|
852.1
|
|
|
267.5
|
|
|
6.9
|
|
||||
WPL
|
|
|
|
|
|
|
|
|
|
|||||||
Columbia Units 1-2
|
1975-1978
|
|
46.2
|
%
|
|
571.9
|
|
|
175.5
|
|
|
34.8
|
|
|||
Edgewater Unit 4
|
1969
|
|
68.2
|
%
|
|
102.7
|
|
|
58.2
|
|
|
0.1
|
|
|||
|
|
|
|
|
674.6
|
|
|
233.7
|
|
|
34.9
|
|
||||
Alliant Energy
|
|
|
|
|
|
$1,526.7
|
|
|
|
$501.2
|
|
|
|
$41.8
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||
Customer
|
|
$93.8
|
|
|
|
$88.2
|
|
|
|
$4.6
|
|
|
|
$—
|
|
|
|
$81.5
|
|
|
|
$81.0
|
|
Unbilled utility revenues
|
83.1
|
|
|
85.4
|
|
|
1.2
|
|
|
—
|
|
|
81.9
|
|
|
85.4
|
|
||||||
Deferred proceeds
|
172.0
|
|
|
177.2
|
|
|
172.0
|
|
|
177.2
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
53.5
|
|
|
81.6
|
|
|
22.8
|
|
|
39.9
|
|
|
25.7
|
|
|
23.6
|
|
||||||
Allowance for doubtful accounts
|
(4.8
|
)
|
|
(5.1
|
)
|
|
(0.6
|
)
|
|
(0.4
|
)
|
|
(3.7
|
)
|
|
(4.2
|
)
|
||||||
|
|
$397.6
|
|
|
|
$427.3
|
|
|
|
$200.0
|
|
|
|
$216.7
|
|
|
|
$185.4
|
|
|
|
$185.8
|
|
|
2015
|
|
2014
|
|
2013
|
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)
|
$137.0
|
|
$150.0
|
|
$170.0
|
Average outstanding aggregate cash proceeds (based on daily outstanding balances)
|
46.7
|
|
46.4
|
|
105.9
|
|
2015
|
|
2014
|
Customer accounts receivable
|
$109.7
|
|
$134.8
|
Unbilled utility revenues
|
71.3
|
|
69.7
|
Other receivables
|
0.1
|
|
0.1
|
Receivables sold to third party
|
181.1
|
|
204.6
|
Less: cash proceeds (a)
|
5.0
|
|
22.0
|
Deferred proceeds
|
176.1
|
|
182.6
|
Less: allowance for doubtful accounts
|
4.1
|
|
5.4
|
Fair value of deferred proceeds
|
$172.0
|
|
$177.2
|
Outstanding receivables past due
|
$18.0
|
|
$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.
|
|
2015
|
|
2014
|
|
2013
|
Collections reinvested in receivables
|
$1,812.9
|
|
$1,997.9
|
|
$1,880.8
|
Credit losses, net of recoveries
|
8.8
|
|
11.4
|
|
11.9
|
|
Ownership
|
|
Carrying Value at
|
|
|
||||||||||||||||
|
Interest at
|
|
December 31,
|
|
Equity (Income) / Loss
|
||||||||||||||||
|
December 31, 2015
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2013
|
||||||||||
Alliant Energy
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
ATC (a)
|
16%
|
|
|
$293.3
|
|
|
|
$286.5
|
|
|
|
($34.2
|
)
|
|
|
($41.9
|
)
|
|
|
($42.7
|
)
|
Wisconsin River Power Company
|
50%
|
|
8.7
|
|
|
7.8
|
|
|
(0.9
|
)
|
|
(0.9
|
)
|
|
(1.0
|
)
|
|||||
Other
|
Various
|
|
0.9
|
|
|
2.3
|
|
|
1.3
|
|
|
2.4
|
|
|
—
|
|
|||||
|
|
|
|
$302.9
|
|
|
|
$296.6
|
|
|
|
($33.8
|
)
|
|
|
($40.4
|
)
|
|
|
($43.7
|
)
|
WPL
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
ATC (a)
|
16%
|
|
|
$293.3
|
|
|
|
$286.5
|
|
|
|
($34.2
|
)
|
|
|
($41.9
|
)
|
|
|
($42.7
|
)
|
Wisconsin River Power Company
|
50%
|
|
8.7
|
|
|
7.8
|
|
|
(0.9
|
)
|
|
(0.9
|
)
|
|
(1.0
|
)
|
|||||
|
|
|
|
$302.0
|
|
|
|
$294.3
|
|
|
|
($35.1
|
)
|
|
|
($42.8
|
)
|
|
|
($43.7
|
)
|
(a)
|
Alliant Energy and WPL have the ability to exercise significant influence over ATC’s financial and operating policies through their participation on ATC’s Board of Directors. Refer to
Note 18
for information regarding related party transactions with ATC.
|
|
Alliant Energy
|
|
WPL
|
||||||||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
||||||||||||
Operating revenues
|
|
$624
|
|
|
|
$643
|
|
|
|
$634
|
|
|
|
$624
|
|
|
|
$643
|
|
|
|
$634
|
|
Operating income
|
299
|
|
|
330
|
|
|
334
|
|
|
299
|
|
|
330
|
|
|
334
|
|
||||||
Net income
|
186
|
|
|
240
|
|
|
248
|
|
|
202
|
|
|
240
|
|
|
250
|
|
||||||
As of December 31:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Current assets
|
88
|
|
|
72
|
|
|
|
|
87
|
|
|
70
|
|
|
|
||||||||
Non-current assets
|
3,987
|
|
|
3,773
|
|
|
|
|
3,977
|
|
|
3,747
|
|
|
|
||||||||
Current liabilities
|
332
|
|
|
315
|
|
|
|
|
332
|
|
|
315
|
|
|
|
||||||||
Non-current liabilities
|
2,052
|
|
|
1,871
|
|
|
|
|
2,052
|
|
|
1,870
|
|
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Cash surrender value
|
$42.3
|
|
$47.0
|
|
$18.9
|
|
$18.1
|
|
$6.4
|
|
$11.4
|
|
2015
|
|
2014
|
|
2013
|
|||
Shares outstanding, January 1
|
110,935,680
|
|
|
110,943,669
|
|
|
110,987,400
|
|
At-the-market offering program
|
2,186,617
|
|
|
—
|
|
|
—
|
|
Shareowner Direct Plan issuances
|
303,005
|
|
|
—
|
|
|
—
|
|
Equity-based compensation plans (
Note 12(b)
)
|
56,378
|
|
|
35,547
|
|
|
(23,374
|
)
|
Other
|
(22,464
|
)
|
|
(43,536
|
)
|
|
(20,357
|
)
|
Shares outstanding, December 31
|
113,459,216
|
|
|
110,935,680
|
|
|
110,943,669
|
|
|
2015
|
|
2014
|
||||
IPL
|
|
$1.4
|
|
|
|
$1.3
|
|
WPL
|
1.6
|
|
|
1.6
|
|
|
IPL
|
|
WPL
|
|
Resources
|
||||||||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
||||||||||||||||||
Common stock dividends
|
|
$140.0
|
|
|
|
$140.0
|
|
|
|
$128.1
|
|
|
|
$126.9
|
|
|
|
$118.7
|
|
|
|
$116.3
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
Repayments of capital
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
50.0
|
|
|
95.0
|
|
|||||||||
Total distributions from common equity
|
|
$140.0
|
|
|
|
$140.0
|
|
|
|
$128.1
|
|
|
|
$126.9
|
|
|
|
$118.7
|
|
|
|
$116.3
|
|
|
|
$—
|
|
|
|
$50.0
|
|
|
|
$95.0
|
|
2015
|
|
2014
|
|
2013
|
||||||
|
$165.0
|
|
|
|
$90.0
|
|
|
|
$120.0
|
|
Liquidation Preference/Stated Value
|
|
Shares Authorized
|
|
Shares Outstanding
|
|
Series
|
|
2015
|
|
2014
|
||||
|
|
|
|
|
|
|
|
(in millions)
|
||||||
$25
|
|
16,000,000
|
|
8,000,000
|
|
5.1%
|
|
|
$200.0
|
|
|
|
$200.0
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
December 31
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper:
|
|
|
|
|
|
|
|
|
|
|
|
Amount outstanding
|
$159.8
|
|
$141.3
|
|
$—
|
|
$—
|
|
$19.9
|
|
$—
|
Weighted average interest rates
|
0.7%
|
|
0.4%
|
|
N/A
|
|
N/A
|
|
0.4%
|
|
N/A
|
Weighted average remaining maturity
|
4 days
|
|
4 days
|
|
N/A
|
|
N/A
|
|
4 days
|
|
N/A
|
Available credit facility capacity
|
$840.2
|
|
$858.7
|
|
$300.0
|
|
$300.0
|
|
$380.1
|
|
$400.0
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
For the year ended
|
|
|
|
|
|
|
|
|
|
|
|
Maximum amount outstanding
(based on daily outstanding balances)
|
$181.2
|
|
$353.8
|
|
$18.4
|
|
$38.0
|
|
$24.7
|
|
$204.7
|
Average amount outstanding
(based on daily outstanding balances)
|
$119.2
|
|
$255.9
|
|
$0.2
|
|
$0.2
|
|
$2.2
|
|
$122.9
|
Weighted average interest rates
|
0.4%
|
|
0.2%
|
|
0.4%
|
|
0.2%
|
|
0.3%
|
|
0.1%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
Requirement, not to exceed
|
65%
|
|
58%
|
|
58%
|
Actual
|
50%
|
|
46%
|
|
48%
|
|
2015
|
|
2014
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Senior Debentures:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
5.875%, due 2018
|
|
$100.0
|
|
|
|
$100.0
|
|
|
|
$—
|
|
|
|
$100.0
|
|
|
|
$100.0
|
|
|
|
$—
|
|
7.25%, due 2018
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
||||||
3.65%, due 2020
|
200.0
|
|
|
200.0
|
|
|
—
|
|
|
200.0
|
|
|
200.0
|
|
|
—
|
|
||||||
3.25%, due 2024
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
||||||
3.4%, due 2025 (a)
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
5.5%, due 2025
|
50.0
|
|
|
50.0
|
|
|
—
|
|
|
50.0
|
|
|
50.0
|
|
|
—
|
|
||||||
6.45%, due 2033
|
100.0
|
|
|
100.0
|
|
|
—
|
|
|
100.0
|
|
|
100.0
|
|
|
—
|
|
||||||
6.3%, due 2034
|
125.0
|
|
|
125.0
|
|
|
—
|
|
|
125.0
|
|
|
125.0
|
|
|
—
|
|
||||||
6.25%, due 2039
|
300.0
|
|
|
300.0
|
|
|
—
|
|
|
300.0
|
|
|
300.0
|
|
|
—
|
|
||||||
4.7%, due 2043
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
||||||
3.3% (Retired in 2015)
|
—
|
|
|
—
|
|
|
—
|
|
|
150.0
|
|
|
150.0
|
|
|
—
|
|
||||||
|
1,875.0
|
|
|
1,875.0
|
|
|
—
|
|
|
1,775.0
|
|
|
1,775.0
|
|
|
—
|
|
||||||
Debentures:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
5%, due 2019
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
4.6%, due 2020
|
150.0
|
|
|
—
|
|
|
150.0
|
|
|
150.0
|
|
|
—
|
|
|
150.0
|
|
||||||
2.25%, due 2022
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
6.25%, due 2034
|
100.0
|
|
|
—
|
|
|
100.0
|
|
|
100.0
|
|
|
—
|
|
|
100.0
|
|
||||||
6.375%, due 2037
|
300.0
|
|
|
—
|
|
|
300.0
|
|
|
300.0
|
|
|
—
|
|
|
300.0
|
|
||||||
7.6%, due 2038
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
4.1%, due 2044
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
|
1,550.0
|
|
|
—
|
|
|
1,550.0
|
|
|
1,550.0
|
|
|
—
|
|
|
1,550.0
|
|
||||||
Pollution Control Revenue Bonds:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
5% (Retired in 2015)
|
—
|
|
|
—
|
|
|
—
|
|
|
16.0
|
|
|
—
|
|
|
16.0
|
|
||||||
5.375% (Retired in 2015)
|
—
|
|
|
—
|
|
|
—
|
|
|
14.6
|
|
|
—
|
|
|
14.6
|
|
||||||
|
—
|
|
|
—
|
|
|
—
|
|
|
30.6
|
|
|
—
|
|
|
30.6
|
|
||||||
Other:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2015
|
250.0
|
|
|
—
|
|
|
—
|
|
|
250.0
|
|
|
—
|
|
|
—
|
|
||||||
Term loan credit agreement through 2016, 1% at December 31, 2015
|
60.0
|
|
|
—
|
|
|
—
|
|
|
60.0
|
|
|
—
|
|
|
—
|
|
||||||
3.45% senior notes, due 2022
|
75.0
|
|
|
—
|
|
|
—
|
|
|
75.0
|
|
|
—
|
|
|
—
|
|
||||||
5.06% senior secured notes, due 2016 to 2024
|
56.8
|
|
|
—
|
|
|
—
|
|
|
58.9
|
|
|
—
|
|
|
—
|
|
||||||
Other, 1% at December 31, 2015, due 2016 to 2025
|
3.7
|
|
|
—
|
|
|
—
|
|
|
3.3
|
|
|
—
|
|
|
—
|
|
||||||
|
445.5
|
|
|
—
|
|
|
—
|
|
|
447.2
|
|
|
—
|
|
|
—
|
|
||||||
Subtotal
|
3,870.5
|
|
|
1,875.0
|
|
|
1,550.0
|
|
|
3,802.8
|
|
|
1,775.0
|
|
|
1,580.6
|
|
||||||
Current maturities
|
(313.4
|
)
|
|
—
|
|
|
—
|
|
|
(183.0
|
)
|
|
(150.0
|
)
|
|
(30.6
|
)
|
||||||
Unamortized debt issuance costs
|
(22.3
|
)
|
|
(11.8
|
)
|
|
(9.9
|
)
|
|
(22.4
|
)
|
|
(10.7
|
)
|
|
(10.8
|
)
|
||||||
Unamortized debt (discount) and premium, net
|
(12.6
|
)
|
|
(6.3
|
)
|
|
(6.2
|
)
|
|
(13.1
|
)
|
|
(6.3
|
)
|
|
(6.7
|
)
|
||||||
Long-term debt, net
|
|
$3,522.2
|
|
|
|
$1,856.9
|
|
|
|
$1,533.9
|
|
|
|
$3,584.3
|
|
|
|
$1,608.0
|
|
|
|
$1,532.5
|
|
(a)
|
In 2015, IPL issued
$250.0 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 amounts received from its sales of accounts receivable program and for general corporate purposes.
|
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
||||||||||
IPL
|
|
$—
|
|
|
|
$—
|
|
|
|
$350
|
|
|
|
$—
|
|
|
|
$200
|
|
WPL
|
—
|
|
|
—
|
|
|
—
|
|
|
250
|
|
|
150
|
|
|||||
Resources
|
63
|
|
|
5
|
|
|
6
|
|
|
6
|
|
|
7
|
|
|||||
Alliant Energy parent company
|
250
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Alliant Energy
|
|
$313
|
|
|
|
$5
|
|
|
|
$356
|
|
|
|
$256
|
|
|
|
$357
|
|
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|
Total
|
||||||||||||||
Alliant Energy
|
|
$6
|
|
|
|
$8
|
|
|
|
$3
|
|
|
|
$2
|
|
|
|
$2
|
|
|
|
$19
|
|
|
|
$40
|
|
IPL
|
3
|
|
|
3
|
|
|
2
|
|
|
1
|
|
|
1
|
|
|
13
|
|
|
23
|
|
|||||||
WPL
|
3
|
|
|
5
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
9
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
Interest expense
|
|
$9.9
|
|
|
|
$10.4
|
|
|
|
$10.9
|
|
Depreciation and amortization
|
6.2
|
|
|
6.2
|
|
|
6.2
|
|
|||
|
|
$16.1
|
|
|
|
$16.6
|
|
|
|
$17.1
|
|
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|
Total
|
|
Less: amount representing interest
|
|
Present value of minimum capital lease payments
|
Sheboygan Falls
|
$15
|
|
$15
|
|
$15
|
|
$15
|
|
$15
|
|
$68
|
|
$143
|
|
$54
|
|
$89
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
||||||||||||||||||
Current tax expense (benefit):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Federal
|
|
$2.0
|
|
|
|
$36.6
|
|
|
|
$4.4
|
|
|
|
($14.1
|
)
|
|
|
$8.9
|
|
|
|
$10.2
|
|
|
|
$4.7
|
|
|
|
$2.0
|
|
|
|
($0.3
|
)
|
State
|
3.2
|
|
|
9.3
|
|
|
(3.6
|
)
|
|
11.5
|
|
|
10.4
|
|
|
4.2
|
|
|
0.6
|
|
|
0.8
|
|
|
(4.3
|
)
|
|||||||||
IPL’s tax benefit riders
|
(49.0
|
)
|
|
(56.7
|
)
|
|
(52.9
|
)
|
|
(49.0
|
)
|
|
(56.7
|
)
|
|
(52.9
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
Deferred tax expense (benefit):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Federal
|
120.8
|
|
|
83.5
|
|
|
123.9
|
|
|
40.7
|
|
|
10.8
|
|
|
21.7
|
|
|
76.8
|
|
|
81.1
|
|
|
84.0
|
|
|||||||||
State
|
27.9
|
|
|
4.6
|
|
|
15.6
|
|
|
3.3
|
|
|
(7.9
|
)
|
|
(4.0
|
)
|
|
20.2
|
|
|
20.0
|
|
|
24.1
|
|
|||||||||
Production tax credits
|
(33.1
|
)
|
|
(31.3
|
)
|
|
(31.0
|
)
|
|
(14.5
|
)
|
|
(13.8
|
)
|
|
(14.1
|
)
|
|
(18.6
|
)
|
|
(17.5
|
)
|
|
(16.9
|
)
|
|||||||||
Investment tax credits
|
(1.4
|
)
|
|
(1.6
|
)
|
|
(1.6
|
)
|
|
(0.6
|
)
|
|
(0.6
|
)
|
|
(0.6
|
)
|
|
(0.8
|
)
|
|
(1.0
|
)
|
|
(1.0
|
)
|
|||||||||
Provision recorded as a change in uncertain tax positions:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Deferred
|
—
|
|
|
—
|
|
|
(0.4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.4
|
)
|
|||||||||
Provision recorded as a change in accrued interest
|
—
|
|
|
(0.1
|
)
|
|
(0.5
|
)
|
|
—
|
|
|
—
|
|
|
(0.8
|
)
|
|
—
|
|
|
(0.1
|
)
|
|
0.4
|
|
|||||||||
|
|
$70.4
|
|
|
|
$44.3
|
|
|
|
$53.9
|
|
|
|
($22.7
|
)
|
|
|
($48.9
|
)
|
|
|
($36.3
|
)
|
|
|
$82.9
|
|
|
|
$85.3
|
|
|
|
$85.6
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|||||||||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
|||||||||
Statutory federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
State income taxes, net of federal benefits
|
5.2
|
|
|
5.4
|
|
|
5.7
|
|
|
6.2
|
|
|
6.1
|
|
|
6.3
|
|
|
5.1
|
|
|
5.1
|
|
|
5.5
|
|
IPL’s tax benefit riders
|
(10.6
|
)
|
|
(12.9
|
)
|
|
(12.1
|
)
|
|
(28.3
|
)
|
|
(39.6
|
)
|
|
(34.8
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
Effect of rate-making on property-related differences
|
(6.8
|
)
|
|
(7.5
|
)
|
|
(6.0
|
)
|
|
(17.2
|
)
|
|
(21.9
|
)
|
|
(15.9
|
)
|
|
(0.5
|
)
|
|
(0.7
|
)
|
|
(0.8
|
)
|
Production tax credits
|
(7.2
|
)
|
|
(7.1
|
)
|
|
(7.1
|
)
|
|
(8.3
|
)
|
|
(9.6
|
)
|
|
(9.3
|
)
|
|
(7.1
|
)
|
|
(6.6
|
)
|
|
(6.4
|
)
|
Adjustment of prior period taxes
|
0.8
|
|
|
(1.3
|
)
|
|
(1.3
|
)
|
|
0.7
|
|
|
(3.0
|
)
|
|
(3.6
|
)
|
|
0.1
|
|
|
—
|
|
|
(0.2
|
)
|
Other items, net
|
(1.1
|
)
|
|
(1.5
|
)
|
|
(1.8
|
)
|
|
(1.2
|
)
|
|
(1.2
|
)
|
|
(1.6
|
)
|
|
(0.8
|
)
|
|
(0.8
|
)
|
|
(0.8
|
)
|
Overall income tax rate
|
15.3
|
%
|
|
10.1
|
%
|
|
12.4
|
%
|
|
(13.1
|
%)
|
|
(34.2
|
%)
|
|
(23.9
|
%)
|
|
31.8
|
%
|
|
32.0
|
%
|
|
32.3
|
%
|
|
End of Production
|
|
Nameplate
|
|
|
|
|
|
|
||||||
|
Tax Credit Generation
|
|
Capacity in MW
|
|
2015
|
|
2014
|
|
2013
|
||||||
Cedar Ridge (WPL)
|
December 2018
|
|
68
|
|
|
$4.5
|
|
|
|
$4.1
|
|
|
|
$4.2
|
|
Bent Tree (WPL)
|
February 2021
|
|
201
|
|
14.1
|
|
|
13.4
|
|
|
12.7
|
|
|||
Subtotal (WPL)
|
|
|
|
|
18.6
|
|
|
17.5
|
|
|
16.9
|
|
|||
Whispering Willow - East (IPL)
|
December 2019
|
|
200
|
|
14.5
|
|
|
13.8
|
|
|
14.1
|
|
|||
|
|
|
|
|
|
$33.1
|
|
|
|
$31.3
|
|
|
|
$31.0
|
|
|
2015
|
|
2014
|
||||||||||||||||
|
Deferred
|
Deferred Tax
|
|
|
Deferred
|
Deferred Tax
|
|
||||||||||||
Alliant Energy
|
Tax Assets
|
Liabilities
|
Net
|
|
Tax Assets
|
Liabilities
|
Net
|
||||||||||||
Property
|
|
$—
|
|
|
$2,762.9
|
|
|
$2,762.9
|
|
|
|
$—
|
|
|
$2,627.8
|
|
|
$2,627.8
|
|
Investment in ATC
|
—
|
|
138.1
|
|
138.1
|
|
|
—
|
|
131.6
|
|
131.6
|
|
||||||
Net operating losses carryforwards - state
|
(38.3
|
)
|
—
|
|
(38.3
|
)
|
|
(45.7
|
)
|
—
|
|
(45.7
|
)
|
||||||
Regulatory liability - IPL’s tax benefit riders
|
(66.1
|
)
|
—
|
|
(66.1
|
)
|
|
(100.9
|
)
|
—
|
|
(100.9
|
)
|
||||||
Federal credit carryforwards
|
(236.4
|
)
|
—
|
|
(236.4
|
)
|
|
(201.0
|
)
|
—
|
|
(201.0
|
)
|
||||||
Net operating losses carryforwards - federal
|
(250.9
|
)
|
—
|
|
(250.9
|
)
|
|
(332.8
|
)
|
—
|
|
(332.8
|
)
|
||||||
Other
|
(85.4
|
)
|
157.3
|
|
71.9
|
|
|
(88.1
|
)
|
180.1
|
|
92.0
|
|
||||||
|
|
($677.1
|
)
|
|
$3,058.3
|
|
|
$2,381.2
|
|
|
|
($768.5
|
)
|
|
$2,939.5
|
|
|
$2,171.0
|
|
|
2015
|
|
2014
|
||||
Current deferred tax assets
|
N/A
|
|
|
($150.1
|
)
|
||
Non-current deferred tax liabilities
|
|
$2,381.2
|
|
|
2,321.1
|
|
|
Total net deferred tax liabilities
|
|
$2,381.2
|
|
|
|
$2,171.0
|
|
|
2015
|
|
2014
|
||||||||||||||||
|
Deferred
|
Deferred Tax
|
|
|
Deferred
|
Deferred Tax
|
|
||||||||||||
IPL
|
Tax Assets
|
Liabilities
|
Net
|
|
Tax Assets
|
Liabilities
|
Net
|
||||||||||||
Property
|
|
$—
|
|
|
$1,587.8
|
|
|
$1,587.8
|
|
|
|
$—
|
|
|
$1,545.1
|
|
|
$1,545.1
|
|
Regulatory liability - tax benefit riders
|
(66.1
|
)
|
—
|
|
(66.1
|
)
|
|
(100.9
|
)
|
—
|
|
(100.9
|
)
|
||||||
Federal credit carryforwards
|
(81.7
|
)
|
—
|
|
(81.7
|
)
|
|
(66.5
|
)
|
—
|
|
(66.5
|
)
|
||||||
Net operating losses carryforwards - federal
|
(113.1
|
)
|
—
|
|
(113.1
|
)
|
|
(157.8
|
)
|
—
|
|
(157.8
|
)
|
||||||
Other
|
(36.7
|
)
|
87.8
|
|
51.1
|
|
|
(37.1
|
)
|
83.5
|
|
46.4
|
|
||||||
|
|
($297.6
|
)
|
|
$1,675.6
|
|
|
$1,378.0
|
|
|
|
($362.3
|
)
|
|
$1,628.6
|
|
|
$1,266.3
|
|
|
2015
|
|
2014
|
||||
Current deferred tax assets
|
N/A
|
|
|
($104.0
|
)
|
||
Non-current deferred tax liabilities
|
|
$1,378.0
|
|
|
1,370.3
|
|
|
Total net deferred tax liabilities
|
|
$1,378.0
|
|
|
|
$1,266.3
|
|
|
2015
|
|
2014
|
||||||||||||||||
|
Deferred
|
Deferred Tax
|
|
|
Deferred
|
Deferred Tax
|
|
||||||||||||
WPL
|
Tax Assets
|
Liabilities
|
Net
|
|
Tax Assets
|
Liabilities
|
Net
|
||||||||||||
Property
|
|
$—
|
|
|
$1,027.0
|
|
|
$1,027.0
|
|
|
|
$—
|
|
|
$963.0
|
|
|
$963.0
|
|
Investment in ATC
|
—
|
|
138.9
|
|
138.9
|
|
|
—
|
|
132.1
|
|
132.1
|
|
||||||
Federal credit carryforwards
|
(95.5
|
)
|
—
|
|
(95.5
|
)
|
|
(76.7
|
)
|
—
|
|
(76.7
|
)
|
||||||
Net operating losses carryforwards - federal
|
(105.1
|
)
|
—
|
|
(105.1
|
)
|
|
(131.6
|
)
|
—
|
|
(131.6
|
)
|
||||||
Other
|
(27.8
|
)
|
67.9
|
|
40.1
|
|
|
(37.1
|
)
|
79.7
|
|
42.6
|
|
||||||
|
|
($228.4
|
)
|
|
$1,233.8
|
|
|
$1,005.4
|
|
|
|
($245.4
|
)
|
|
$1,174.8
|
|
|
$929.4
|
|
|
2015
|
|
2014
|
||||
Current deferred tax assets
|
N/A
|
|
|
($37.7
|
)
|
||
Non-current deferred tax liabilities
|
|
$1,005.4
|
|
|
967.1
|
|
|
Total net deferred tax liabilities
|
|
$1,005.4
|
|
|
|
$929.4
|
|
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Earliest
|
|
Tax
|
|
Deferred
|
|
Tax
|
|
Deferred
|
|
Tax
|
|
Deferred
|
||||||||||||
|
Expiration Date
|
|
Carryforwards
|
|
Tax Assets
|
|
Carryforwards
|
|
Tax Assets
|
|
Carryforwards
|
|
Tax Assets
|
||||||||||||
Federal net operating losses
|
2030
|
|
|
$732
|
|
|
|
$251
|
|
|
|
$336
|
|
|
|
$113
|
|
|
|
$300
|
|
|
|
$105
|
|
State net operating losses
|
2018
|
|
766
|
|
|
38
|
|
|
20
|
|
|
1
|
|
|
76
|
|
|
4
|
|
||||||
Federal tax credits
|
2022
|
|
240
|
|
|
236
|
|
|
85
|
|
|
82
|
|
|
96
|
|
|
96
|
|
||||||
|
|
|
|
|
|
$525
|
|
|
|
|
|
$196
|
|
|
|
|
|
$205
|
|
Consolidated federal income tax returns (a)
|
2012
|
-
|
2014
|
Consolidated Iowa income tax returns (b)
|
2012
|
-
|
2014
|
Wisconsin combined tax returns (c)
|
2011
|
-
|
2014
|
(a)
|
These federal tax returns are effectively settled as a result of participation in the IRS Compliance Assurance Program, which allows Alliant Energy and the IRS to work together to resolve issues related to Alliant Energy’s current tax year before filing its federal income tax return. The statute of limitations for these federal tax returns expires
three
years from each filing date.
|
(b)
|
The statute of limitations for these Iowa tax returns expires
three
years from each filing date.
|
(c)
|
The statute of limitations for these Wisconsin combined tax returns expires
four
years from each filing date.
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
|||||||||||||||||
Alliant Energy
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
|||||||||
Discount rate for benefit obligations
|
4.47%
|
|
4.18%
|
|
4.97%
|
|
4.30%
|
|
3.97%
|
|
4.59%
|
|||||||||
Discount rate for net periodic cost
|
4.18%
|
|
4.97%
|
|
4.11%
|
|
3.97%
|
|
4.59%
|
|
3.82%
|
|||||||||
Expected rate of return on plan assets
|
7.60%
|
|
7.60%
|
|
7.60%
|
|
6.20%
|
|
7.40%
|
|
7.40%
|
|||||||||
Rate of compensation increase
|
3.65
|
%
|
-
|
4.50%
|
|
3.50
|
%
|
-
|
4.50%
|
|
3.50
|
%
|
-
|
4.50%
|
|
N/A
|
|
N/A
|
|
3.50%
|
Medical cost trend on covered charges:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Initial trend rate (end of year)
|
N/A
|
|
N/A
|
|
N/A
|
|
7.25%
|
|
6.75%
|
|
7.00%
|
|||||||||
Ultimate trend rate
|
N/A
|
|
N/A
|
|
N/A
|
|
5.00%
|
|
5.00%
|
|
5.00%
|
|
Qualified Defined Benefit Pension Plan
|
|
OPEB Plans
|
||||||||
IPL
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
Discount rate for benefit obligations
|
4.50%
|
|
4.20%
|
|
5.05%
|
|
4.28%
|
|
3.94%
|
|
4.55%
|
Discount rate for net periodic cost
|
4.20%
|
|
5.05%
|
|
4.20%
|
|
3.94%
|
|
4.55%
|
|
3.76%
|
Expected rate of return on plan assets
|
7.60%
|
|
7.60%
|
|
7.60%
|
|
6.60%
|
|
7.60%
|
|
7.50%
|
Rate of compensation increase
|
3.65%
|
|
3.50%
|
|
3.50%
|
|
N/A
|
|
N/A
|
|
3.50%
|
Medical cost trend on covered charges:
|
|
|
|
|
|
|
|
|
|
|
|
Initial trend rate (end of year)
|
N/A
|
|
N/A
|
|
N/A
|
|
7.25%
|
|
6.75%
|
|
7.00%
|
Ultimate trend rate
|
N/A
|
|
N/A
|
|
N/A
|
|
5.00%
|
|
5.00%
|
|
5.00%
|
|
Qualified Defined Benefit Pension Plan
|
|
OPEB Plans
|
||||||||
WPL
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
Discount rate for benefit obligations
|
4.51%
|
|
4.20%
|
|
5.05%
|
|
4.28%
|
|
3.96%
|
|
4.56%
|
Discount rate for net periodic cost
|
4.20%
|
|
5.05%
|
|
4.20%
|
|
3.96%
|
|
4.56%
|
|
3.81%
|
Expected rate of return on plan assets
|
7.60%
|
|
7.60%
|
|
7.60%
|
|
4.60%
|
|
7.30%
|
|
7.20%
|
Rate of compensation increase
|
3.65%
|
|
3.50%
|
|
3.50%
|
|
N/A
|
|
N/A
|
|
3.50%
|
Medical cost trend on covered charges:
|
|
|
|
|
|
|
|
|
|
|
|
Initial trend rate (end of year)
|
N/A
|
|
N/A
|
|
N/A
|
|
7.25%
|
|
6.75%
|
|
7.00%
|
Ultimate trend rate
|
N/A
|
|
N/A
|
|
N/A
|
|
5.00%
|
|
5.00%
|
|
5.00%
|
Alliant Energy
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
|||||||||||||
Service cost
|
|
$15.9
|
|
|
|
$13.1
|
|
|
|
$15.7
|
|
|
|
$5.5
|
|
|
|
$5.2
|
|
|
|
$6.3
|
|
Interest cost
|
53.6
|
|
|
54.1
|
|
|
49.0
|
|
|
9.1
|
|
|
9.5
|
|
|
8.5
|
|
||||||
Expected return on plan assets (a)
|
(75.0
|
)
|
|
(74.9
|
)
|
|
(74.0
|
)
|
|
(8.4
|
)
|
|
(8.3
|
)
|
|
(8.1
|
)
|
||||||
Amortization of prior service cost (credit) (b)
|
(0.2
|
)
|
|
—
|
|
|
0.2
|
|
|
(11.3
|
)
|
|
(11.9
|
)
|
|
(11.9
|
)
|
||||||
Amortization of actuarial loss (c)
|
35.4
|
|
|
19.5
|
|
|
36.2
|
|
|
4.8
|
|
|
2.4
|
|
|
4.9
|
|
||||||
Additional benefit costs (d)
|
0.5
|
|
|
—
|
|
|
9.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
|
$30.2
|
|
|
|
$11.8
|
|
|
|
$36.1
|
|
|
|
($0.3
|
)
|
|
|
($3.1
|
)
|
|
|
($0.3
|
)
|
IPL
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
|||||||||||||
Service cost
|
|
$8.8
|
|
|
|
$7.2
|
|
|
|
$8.6
|
|
|
|
$2.4
|
|
|
|
$2.4
|
|
|
|
$2.9
|
|
Interest cost
|
25.0
|
|
|
25.1
|
|
|
22.9
|
|
|
3.8
|
|
|
3.9
|
|
|
3.6
|
|
||||||
Expected return on plan assets (a)
|
(35.8
|
)
|
|
(35.7
|
)
|
|
(35.2
|
)
|
|
(5.7
|
)
|
|
(5.8
|
)
|
|
(5.6
|
)
|
||||||
Amortization of prior service cost (credit) (b)
|
(0.1
|
)
|
|
—
|
|
|
0.1
|
|
|
(6.1
|
)
|
|
(6.3
|
)
|
|
(6.3
|
)
|
||||||
Amortization of actuarial loss (c)
|
15.3
|
|
|
8.0
|
|
|
15.2
|
|
|
2.3
|
|
|
1.1
|
|
|
2.7
|
|
||||||
Additional benefit costs (d)
|
—
|
|
|
—
|
|
|
2.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
|
$13.2
|
|
|
|
$4.6
|
|
|
|
$14.2
|
|
|
|
($3.3
|
)
|
|
|
($4.7
|
)
|
|
|
($2.7
|
)
|
WPL
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
|||||||||||||
Service cost
|
|
$5.8
|
|
|
|
$4.9
|
|
|
|
$5.9
|
|
|
|
$2.1
|
|
|
|
$2.0
|
|
|
|
$2.5
|
|
Interest cost
|
22.6
|
|
|
22.6
|
|
|
20.7
|
|
|
3.7
|
|
|
3.8
|
|
|
3.4
|
|
||||||
Expected return on plan assets (a)
|
(32.4
|
)
|
|
(32.4
|
)
|
|
(31.9
|
)
|
|
(1.5
|
)
|
|
(1.3
|
)
|
|
(1.3
|
)
|
||||||
Amortization of prior service cost (credit) (b)
|
0.2
|
|
|
0.3
|
|
|
0.3
|
|
|
(3.5
|
)
|
|
(3.9
|
)
|
|
(3.9
|
)
|
||||||
Amortization of actuarial loss (c)
|
16.8
|
|
|
9.2
|
|
|
17.1
|
|
|
2.2
|
|
|
1.3
|
|
|
1.9
|
|
||||||
Additional benefit costs (d)
|
0.5
|
|
|
—
|
|
|
0.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
|
$13.5
|
|
|
|
$4.6
|
|
|
|
$12.7
|
|
|
|
$3.0
|
|
|
|
$1.9
|
|
|
|
$2.6
|
|
(a)
|
The expected return on plan assets is based on the expected rate of return on plan assets and the fair value approach to the market-related value of plan assets.
|
(b)
|
Unrecognized prior service costs (credits) for the OPEB plans are amortized over the average future service period to full eligibility of the participants of each plan.
|
(c)
|
Unrecognized net actuarial gains or losses in excess of 10% of the greater of the plans’ benefit obligations or assets are amortized over the average future service lives of plan participants, except for the Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits.
|
(d)
|
In 2013, Alliant Energy filed a stipulation agreement with the Western Wisconsin Court related to a class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized
$9.0 million
of additional benefits costs in 2013 related to the agreement. IPL recognized
$5.5 million
(
$2.6 million
directly assigned and
$2.9 million
allocated by Corporate Services) and WPL recognized
$2.8 million
(
$0.6 million
directly assigned and
$2.2 million
allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Defined Benefit
|
|
|
|
Defined Benefit
|
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
|
Pension Plans
|
|
OPEB Plans
|
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
Actuarial loss
|
|
$37.4
|
|
|
|
$4.8
|
|
|
|
$16.5
|
|
|
|
$2.6
|
|
|
|
$17.6
|
|
|
|
$1.8
|
|
Prior service cost (credit)
|
(0.3
|
)
|
|
(4.1
|
)
|
|
(0.2
|
)
|
|
(2.6
|
)
|
|
0.2
|
|
|
(0.9
|
)
|
||||||
|
|
$37.1
|
|
|
|
$0.7
|
|
|
|
$16.3
|
|
|
|
$—
|
|
|
|
$17.8
|
|
|
|
$0.9
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Change in benefit obligation:
|
|
|
|
|
|
|
|
||||||||
Net benefit obligation at January 1
|
|
$1,301.5
|
|
|
|
$1,113.4
|
|
|
|
$231.1
|
|
|
|
$208.7
|
|
Service cost
|
15.9
|
|
|
13.1
|
|
|
5.5
|
|
|
5.2
|
|
||||
Interest cost
|
53.6
|
|
|
54.1
|
|
|
9.1
|
|
|
9.5
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
3.1
|
|
|
2.8
|
|
||||
Plan amendments
|
—
|
|
|
—
|
|
|
(0.3
|
)
|
|
—
|
|
||||
Additional benefit costs
|
0.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Actuarial (gain) loss
|
(70.1
|
)
|
|
195.8
|
|
|
(9.4
|
)
|
|
22.3
|
|
||||
Gross benefits paid
|
(95.1
|
)
|
|
(74.9
|
)
|
|
(17.7
|
)
|
|
(17.4
|
)
|
||||
Net benefit obligation at December 31
|
1,206.3
|
|
|
1,301.5
|
|
|
221.4
|
|
|
231.1
|
|
||||
Change in plan assets:
|
|
|
|
|
|
|
|
||||||||
Fair value of plan assets at January 1
|
1,018.1
|
|
|
1,022.9
|
|
|
121.6
|
|
|
124.9
|
|
||||
Actual return on plan assets
|
(30.2
|
)
|
|
66.4
|
|
|
(4.9
|
)
|
|
5.6
|
|
||||
Employer contributions
|
2.2
|
|
|
3.7
|
|
|
4.8
|
|
|
5.7
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
3.1
|
|
|
2.8
|
|
||||
Gross benefits paid
|
(95.1
|
)
|
|
(74.9
|
)
|
|
(17.7
|
)
|
|
(17.4
|
)
|
||||
Fair value of plan assets at December 31
|
895.0
|
|
|
1,018.1
|
|
|
106.9
|
|
|
121.6
|
|
||||
Under funded status at December 31
|
|
($311.3
|
)
|
|
|
($283.4
|
)
|
|
|
($114.5
|
)
|
|
|
($109.5
|
)
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Amounts recognized on the balance sheets consist of:
|
|
|
|
|
|
|
|
||||||||
Non-current assets
|
|
$—
|
|
|
|
$—
|
|
|
|
$3.0
|
|
|
|
$6.1
|
|
Other current liabilities
|
(2.6
|
)
|
|
(2.5
|
)
|
|
(6.2
|
)
|
|
(5.6
|
)
|
||||
Pension and other benefit obligations
|
(308.7
|
)
|
|
(280.9
|
)
|
|
(111.3
|
)
|
|
(110.0
|
)
|
||||
Net amounts recognized at December 31
|
|
($311.3
|
)
|
|
|
($283.4
|
)
|
|
|
($114.5
|
)
|
|
|
($109.5
|
)
|
Amounts recognized in Regulatory Assets and AOCL consist of (a):
|
|
|
|
|
|
|
|
||||||||
Net actuarial loss
|
|
$533.1
|
|
|
|
$533.4
|
|
|
|
$59.8
|
|
|
|
$60.7
|
|
Prior service credit
|
(7.2
|
)
|
|
(7.4
|
)
|
|
(5.6
|
)
|
|
(16.7
|
)
|
||||
|
|
$525.9
|
|
|
|
$526.0
|
|
|
|
$54.2
|
|
|
|
$44.0
|
|
(a)
|
Refer to
Note 2
and
Alliant Energy’s common equity statements
for amounts recognized in “Regulatory assets” and “AOCL,” respectively, on Alliant Energy’s balance sheets.
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Change in benefit obligation:
|
|
|
|
|
|
|
|
||||||||
Net benefit obligation at January 1
|
|
$603.1
|
|
|
|
$514.0
|
|
|
|
$96.4
|
|
|
|
$87.8
|
|
Service cost
|
8.8
|
|
|
7.2
|
|
|
2.4
|
|
|
2.4
|
|
||||
Interest cost
|
25.0
|
|
|
25.1
|
|
|
3.8
|
|
|
3.9
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
1.0
|
|
|
0.9
|
|
||||
Plan amendments
|
—
|
|
|
—
|
|
|
(0.1
|
)
|
|
—
|
|
||||
Actuarial (gain) loss
|
(32.3
|
)
|
|
91.4
|
|
|
(4.6
|
)
|
|
8.6
|
|
||||
Gross benefits paid
|
(48.5
|
)
|
|
(34.6
|
)
|
|
(7.6
|
)
|
|
(7.2
|
)
|
||||
Net benefit obligation at December 31
|
556.1
|
|
|
603.1
|
|
|
91.3
|
|
|
96.4
|
|
||||
Change in plan assets:
|
|
|
|
|
|
|
|
||||||||
Fair value of plan assets at January 1
|
484.7
|
|
|
485.9
|
|
|
78.7
|
|
|
81.2
|
|
||||
Actual return on plan assets
|
(14.3
|
)
|
|
32.1
|
|
|
(3.1
|
)
|
|
3.6
|
|
||||
Employer contributions
|
0.8
|
|
|
1.3
|
|
|
0.2
|
|
|
0.2
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
1.0
|
|
|
0.9
|
|
||||
Gross benefits paid
|
(48.5
|
)
|
|
(34.6
|
)
|
|
(7.6
|
)
|
|
(7.2
|
)
|
||||
Fair value of plan assets at December 31
|
422.7
|
|
|
484.7
|
|
|
69.2
|
|
|
78.7
|
|
||||
Under funded status at December 31
|
|
($133.4
|
)
|
|
|
($118.4
|
)
|
|
|
($22.1
|
)
|
|
|
($17.7
|
)
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Amounts recognized on the balance sheets consist of:
|
|
|
|
|
|
|
|
||||||||
Non-current assets
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$1.2
|
|
Other current liabilities
|
(0.8
|
)
|
|
(0.8
|
)
|
|
—
|
|
|
—
|
|
||||
Pension and other benefit obligations
|
(132.6
|
)
|
|
(117.6
|
)
|
|
(22.1
|
)
|
|
(18.9
|
)
|
||||
Net amounts recognized at December 31
|
|
($133.4
|
)
|
|
|
($118.4
|
)
|
|
|
($22.1
|
)
|
|
|
($17.7
|
)
|
Amounts recognized in Regulatory Assets consist of (a):
|
|
|
|
|
|
|
|
||||||||
Net actuarial loss
|
|
$235.5
|
|
|
|
$233.1
|
|
|
|
$29.8
|
|
|
|
$27.9
|
|
Prior service credit
|
(2.5
|
)
|
|
(2.6
|
)
|
|
(2.7
|
)
|
|
(8.7
|
)
|
||||
|
|
$233.0
|
|
|
|
$230.5
|
|
|
|
$27.1
|
|
|
|
$19.2
|
|
(a)
|
Refer to
Note 2
for amounts recognized in “Regulatory assets” on IPL’s balance sheets.
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Change in benefit obligation:
|
|
|
|
|
|
|
|
||||||||
Net benefit obligation at January 1
|
|
$547.6
|
|
|
|
$460.8
|
|
|
|
$94.0
|
|
|
|
$85.6
|
|
Service cost
|
5.8
|
|
|
4.9
|
|
|
2.1
|
|
|
2.0
|
|
||||
Interest cost
|
22.6
|
|
|
22.6
|
|
|
3.7
|
|
|
3.8
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
1.6
|
|
|
1.3
|
|
||||
Plan amendments
|
—
|
|
|
—
|
|
|
(0.2
|
)
|
|
—
|
|
||||
Additional benefit costs
|
0.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Actuarial (gain) loss
|
(30.0
|
)
|
|
86.7
|
|
|
(3.5
|
)
|
|
9.2
|
|
||||
Gross benefits paid
|
(40.6
|
)
|
|
(27.4
|
)
|
|
(8.0
|
)
|
|
(7.9
|
)
|
||||
Net benefit obligation at December 31
|
505.9
|
|
|
547.6
|
|
|
89.7
|
|
|
94.0
|
|
||||
Change in plan assets:
|
|
|
|
|
|
|
|
||||||||
Fair value of plan assets at January 1
|
440.3
|
|
|
438.8
|
|
|
21.8
|
|
|
21.7
|
|
||||
Actual return on plan assets
|
(13.0
|
)
|
|
28.6
|
|
|
(1.1
|
)
|
|
1.2
|
|
||||
Employer contributions
|
0.1
|
|
|
0.3
|
|
|
4.4
|
|
|
5.5
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
1.6
|
|
|
1.3
|
|
||||
Gross benefits paid
|
(40.6
|
)
|
|
(27.4
|
)
|
|
(8.0
|
)
|
|
(7.9
|
)
|
||||
Fair value of plan assets at December 31
|
386.8
|
|
|
440.3
|
|
|
18.7
|
|
|
21.8
|
|
||||
Under funded status at December 31
|
|
($119.1
|
)
|
|
|
($107.3
|
)
|
|
|
($71.0
|
)
|
|
|
($72.2
|
)
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Amounts recognized on the balance sheets consist of:
|
|
|
|
|
|
|
|
||||||||
Non-current assets
|
|
$—
|
|
|
|
$—
|
|
|
|
$3.0
|
|
|
|
$4.9
|
|
Other current liabilities
|
(0.1
|
)
|
|
(0.1
|
)
|
|
(6.0
|
)
|
|
(5.5
|
)
|
||||
Pension and other benefit obligations
|
(119.0
|
)
|
|
(107.2
|
)
|
|
(68.0
|
)
|
|
(71.6
|
)
|
||||
Net amounts recognized at December 31
|
|
($119.1
|
)
|
|
|
($107.3
|
)
|
|
|
($71.0
|
)
|
|
|
($72.2
|
)
|
Amounts recognized in Regulatory Assets consist of (a):
|
|
|
|
|
|
|
|
||||||||
Net actuarial loss
|
|
$232.1
|
|
|
|
$233.5
|
|
|
|
$23.3
|
|
|
|
$26.3
|
|
Prior service credit
|
(1.2
|
)
|
|
(1.0
|
)
|
|
(2.4
|
)
|
|
(5.6
|
)
|
||||
|
|
$230.9
|
|
|
|
$232.5
|
|
|
|
$20.9
|
|
|
|
$20.7
|
|
(a)
|
Refer to
Note 2
for amounts recognized in “Regulatory assets” on WPL’s balance sheets.
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Accumulated benefit obligations
|
|
$1,166.0
|
|
|
|
$1,255.0
|
|
|
|
$221.4
|
|
|
|
$231.1
|
|
Plans with accumulated benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Accumulated benefit obligations
|
1,166.0
|
|
|
1,255.0
|
|
|
221.4
|
|
|
231.1
|
|
||||
Fair value of plan assets
|
895.0
|
|
|
1,018.1
|
|
|
106.9
|
|
|
121.6
|
|
||||
Plans with projected benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Projected benefit obligations
|
1,206.3
|
|
|
1,301.5
|
|
|
N/A
|
|
|
N/A
|
|
||||
Fair value of plan assets
|
895.0
|
|
|
1,018.1
|
|
|
N/A
|
|
|
N/A
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Accumulated benefit obligations
|
|
$531.0
|
|
|
|
$575.5
|
|
|
|
$91.3
|
|
|
|
$96.4
|
|
Plans with accumulated benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Accumulated benefit obligations
|
531.0
|
|
|
575.5
|
|
|
91.3
|
|
|
96.4
|
|
||||
Fair value of plan assets
|
422.7
|
|
|
484.7
|
|
|
69.2
|
|
|
78.7
|
|
||||
Plans with projected benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Projected benefit obligations
|
556.1
|
|
|
603.1
|
|
|
N/A
|
|
|
N/A
|
|
||||
Fair value of plan assets
|
422.7
|
|
|
484.7
|
|
|
N/A
|
|
|
N/A
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Accumulated benefit obligations
|
|
$493.8
|
|
|
|
$532.5
|
|
|
|
$89.7
|
|
|
|
$94.0
|
|
Plans with accumulated benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Accumulated benefit obligations
|
493.8
|
|
|
532.5
|
|
|
89.7
|
|
|
94.0
|
|
||||
Fair value of plan assets
|
386.8
|
|
|
440.3
|
|
|
18.7
|
|
|
21.8
|
|
||||
Plans with projected benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Projected benefit obligations
|
505.9
|
|
|
547.6
|
|
|
N/A
|
|
|
N/A
|
|
||||
Fair value of plan assets
|
386.8
|
|
|
440.3
|
|
|
N/A
|
|
|
N/A
|
|
|
IPL
|
|
WPL
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Regulatory assets
|
|
$38.0
|
|
|
|
$38.2
|
|
|
|
$29.5
|
|
|
|
$28.0
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Defined benefit pension plans (a)
|
|
$2.6
|
|
|
|
$0.8
|
|
|
|
$0.1
|
|
OPEB plans
|
5.8
|
|
|
—
|
|
|
5.5
|
|
(a)
|
Alliant Energy sponsors several non-qualified defined benefit pension plans that cover certain current and former key employees of IPL and WPL. Alliant Energy allocates pension costs to IPL and WPL for these plans. In addition, IPL and WPL amounts reflect funding for their non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans.
|
Alliant Energy
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021 - 2025
|
||||||||||||
Defined benefit pension benefits
|
|
$69.5
|
|
|
|
$74.3
|
|
|
|
$72.8
|
|
|
|
$74.3
|
|
|
|
$78.7
|
|
|
|
$401.4
|
|
OPEB
|
17.8
|
|
|
18.1
|
|
|
18.2
|
|
|
18.3
|
|
|
18.2
|
|
|
86.9
|
|
||||||
|
|
$87.3
|
|
|
|
$92.4
|
|
|
|
$91.0
|
|
|
|
$92.6
|
|
|
|
$96.9
|
|
|
|
$488.3
|
|
IPL
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021 - 2025
|
||||||||||||
Defined benefit pension benefits
|
|
$32.8
|
|
|
|
$34.1
|
|
|
|
$34.8
|
|
|
|
$34.6
|
|
|
|
$37.8
|
|
|
|
$190.8
|
|
OPEB
|
7.6
|
|
|
7.6
|
|
|
7.6
|
|
|
7.5
|
|
|
7.6
|
|
|
36.0
|
|
||||||
|
|
$40.4
|
|
|
|
$41.7
|
|
|
|
$42.4
|
|
|
|
$42.1
|
|
|
|
$45.4
|
|
|
|
$226.8
|
|
WPL
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021 - 2025
|
||||||||||||
Defined benefit pension benefits
|
|
$29.1
|
|
|
|
$29.8
|
|
|
|
$30.7
|
|
|
|
$31.1
|
|
|
|
$32.2
|
|
|
|
$163.7
|
|
OPEB
|
7.5
|
|
|
7.8
|
|
|
7.8
|
|
|
7.8
|
|
|
7.6
|
|
|
34.7
|
|
||||||
|
|
$36.6
|
|
|
|
$37.6
|
|
|
|
$38.5
|
|
|
|
$38.9
|
|
|
|
$39.8
|
|
|
|
$198.4
|
|
|
Target Range
|
|
Actual
|
|||
|
Allocation
|
|
Allocation
|
|||
Cash and equivalents
|
0
|
%
|
-
|
5%
|
|
2%
|
Equity securities:
|
|
|
|
|
|
|
U.S. large cap core
|
8
|
%
|
-
|
18%
|
|
11%
|
U.S. large cap value
|
2.5
|
%
|
-
|
12.5%
|
|
7%
|
U.S. large cap growth
|
2.5
|
%
|
-
|
12.5%
|
|
7%
|
U.S. small cap value
|
0
|
%
|
-
|
4%
|
|
1%
|
U.S. small cap growth
|
0
|
%
|
-
|
4%
|
|
2%
|
International - developed markets
|
7
|
%
|
-
|
19%
|
|
12%
|
International - emerging markets
|
0
|
%
|
-
|
10%
|
|
5%
|
Global asset allocation securities
|
5
|
%
|
-
|
15%
|
|
11%
|
Risk parity allocation securities
|
5
|
%
|
-
|
15%
|
|
10%
|
Fixed income securities
|
20
|
%
|
-
|
40%
|
|
32%
|
|
Target Range
|
|
Actual
|
|||
|
Allocation
|
|
Allocation
|
|||
Cash and equivalents
|
0
|
%
|
-
|
15%
|
|
3%
|
Equity securities:
|
|
|
|
|
|
|
Domestic
|
0
|
%
|
-
|
45%
|
|
21%
|
International
|
0
|
%
|
-
|
21%
|
|
13%
|
Global asset allocation securities
|
5
|
%
|
-
|
40%
|
|
16%
|
Fixed income securities
|
10
|
%
|
-
|
70%
|
|
47%
|
|
2015
|
|
2014
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$23.1
|
|
|
|
$—
|
|
|
|
$23.1
|
|
|
|
$—
|
|
|
|
$49.3
|
|
|
|
$—
|
|
|
|
$49.3
|
|
|
|
$—
|
|
Equity securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
U.S. large cap core
|
100.4
|
|
|
100.4
|
|
|
—
|
|
|
—
|
|
|
137.2
|
|
|
137.2
|
|
|
—
|
|
|
—
|
|
||||||||
U.S. large cap value
|
59.9
|
|
|
—
|
|
|
59.9
|
|
|
—
|
|
|
72.2
|
|
|
—
|
|
|
72.2
|
|
|
—
|
|
||||||||
U.S. large cap growth
|
60.5
|
|
|
—
|
|
|
60.5
|
|
|
—
|
|
|
73.2
|
|
|
—
|
|
|
73.2
|
|
|
—
|
|
||||||||
U.S. small cap value
|
14.2
|
|
|
—
|
|
|
14.2
|
|
|
—
|
|
|
15.2
|
|
|
—
|
|
|
15.2
|
|
|
—
|
|
||||||||
U.S. small cap growth
|
16.0
|
|
|
16.0
|
|
|
—
|
|
|
—
|
|
|
15.9
|
|
|
15.9
|
|
|
—
|
|
|
—
|
|
||||||||
International - developed markets
|
104.4
|
|
|
52.7
|
|
|
51.7
|
|
|
—
|
|
|
102.9
|
|
|
52.1
|
|
|
50.8
|
|
|
—
|
|
||||||||
International - emerging markets
|
41.2
|
|
|
41.2
|
|
|
—
|
|
|
—
|
|
|
47.2
|
|
|
47.2
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
96.3
|
|
|
52.9
|
|
|
43.4
|
|
|
—
|
|
|
99.9
|
|
|
57.2
|
|
|
42.7
|
|
|
—
|
|
||||||||
Risk parity allocation securities
|
94.0
|
|
|
—
|
|
|
94.0
|
|
|
—
|
|
|
102.5
|
|
|
—
|
|
|
102.5
|
|
|
—
|
|
||||||||
Fixed income securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Corporate bonds
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
||||||||
Fixed income funds
|
284.8
|
|
|
—
|
|
|
284.8
|
|
|
—
|
|
|
302.7
|
|
|
0.2
|
|
|
302.5
|
|
|
—
|
|
||||||||
|
894.8
|
|
|
|
$263.2
|
|
|
|
$631.6
|
|
|
|
$—
|
|
|
1,018.3
|
|
|
|
$309.8
|
|
|
|
$708.5
|
|
|
|
$—
|
|
||
Accrued investment income
|
0.2
|
|
|
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
||||||||||||||
Due to brokers, net (pending trades with brokers)
|
—
|
|
|
|
|
|
|
|
|
(0.3
|
)
|
|
|
|
|
|
|
||||||||||||||
Total pension plan assets
|
|
$895.0
|
|
|
|
|
|
|
|
|
|
$1,018.1
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$10.9
|
|
|
|
$—
|
|
|
|
$10.9
|
|
|
|
$—
|
|
|
|
$23.5
|
|
|
|
$—
|
|
|
|
$23.5
|
|
|
|
$—
|
|
Equity securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
U.S. large cap core
|
47.4
|
|
|
47.4
|
|
|
—
|
|
|
—
|
|
|
65.3
|
|
|
65.3
|
|
|
—
|
|
|
—
|
|
||||||||
U.S. large cap value
|
28.3
|
|
|
—
|
|
|
28.3
|
|
|
—
|
|
|
34.4
|
|
|
—
|
|
|
34.4
|
|
|
—
|
|
||||||||
U.S. large cap growth
|
28.6
|
|
|
—
|
|
|
28.6
|
|
|
—
|
|
|
34.9
|
|
|
—
|
|
|
34.9
|
|
|
—
|
|
||||||||
U.S. small cap value
|
6.7
|
|
|
—
|
|
|
6.7
|
|
|
—
|
|
|
7.2
|
|
|
—
|
|
|
7.2
|
|
|
—
|
|
||||||||
U.S. small cap growth
|
7.5
|
|
|
7.5
|
|
|
—
|
|
|
—
|
|
|
7.6
|
|
|
7.6
|
|
|
—
|
|
|
—
|
|
||||||||
International - developed markets
|
49.3
|
|
|
24.9
|
|
|
24.4
|
|
|
—
|
|
|
49.0
|
|
|
24.8
|
|
|
24.2
|
|
|
—
|
|
||||||||
International - emerging markets
|
19.5
|
|
|
19.5
|
|
|
—
|
|
|
—
|
|
|
22.5
|
|
|
22.5
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
45.5
|
|
|
25.0
|
|
|
20.5
|
|
|
—
|
|
|
47.5
|
|
|
27.2
|
|
|
20.3
|
|
|
—
|
|
||||||||
Risk parity allocation securities
|
44.4
|
|
|
—
|
|
|
44.4
|
|
|
—
|
|
|
48.8
|
|
|
—
|
|
|
48.8
|
|
|
—
|
|
||||||||
Fixed income securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Fixed income funds
|
134.5
|
|
|
—
|
|
|
134.5
|
|
|
—
|
|
|
144.1
|
|
|
0.1
|
|
|
144.0
|
|
|
—
|
|
||||||||
|
422.6
|
|
|
|
$124.3
|
|
|
|
$298.3
|
|
|
|
$—
|
|
|
484.8
|
|
|
|
$147.5
|
|
|
|
$337.3
|
|
|
|
$—
|
|
||
Accrued investment income
|
0.1
|
|
|
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
||||||||||||||
Due to brokers, net (pending trades with brokers)
|
—
|
|
|
|
|
|
|
|
|
(0.2
|
)
|
|
|
|
|
|
|
||||||||||||||
Total pension plan assets
|
|
$422.7
|
|
|
|
|
|
|
|
|
|
$484.7
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$10.0
|
|
|
|
$—
|
|
|
|
$10.0
|
|
|
|
$—
|
|
|
|
$21.3
|
|
|
|
$—
|
|
|
|
$21.3
|
|
|
|
$—
|
|
Equity securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
U.S. large cap core
|
43.4
|
|
|
43.4
|
|
|
—
|
|
|
—
|
|
|
59.3
|
|
|
59.3
|
|
|
—
|
|
|
—
|
|
||||||||
U.S. large cap value
|
25.9
|
|
|
—
|
|
|
25.9
|
|
|
—
|
|
|
31.3
|
|
|
—
|
|
|
31.3
|
|
|
—
|
|
||||||||
U.S. large cap growth
|
26.2
|
|
|
—
|
|
|
26.2
|
|
|
—
|
|
|
31.7
|
|
|
—
|
|
|
31.7
|
|
|
—
|
|
||||||||
U.S. small cap value
|
6.1
|
|
|
—
|
|
|
6.1
|
|
|
—
|
|
|
6.6
|
|
|
—
|
|
|
6.6
|
|
|
—
|
|
||||||||
U.S. small cap growth
|
6.9
|
|
|
6.9
|
|
|
—
|
|
|
—
|
|
|
6.9
|
|
|
6.9
|
|
|
—
|
|
|
—
|
|
||||||||
International - developed markets
|
45.1
|
|
|
22.8
|
|
|
22.3
|
|
|
—
|
|
|
44.5
|
|
|
22.5
|
|
|
22.0
|
|
|
—
|
|
||||||||
International - emerging markets
|
17.8
|
|
|
17.8
|
|
|
—
|
|
|
—
|
|
|
20.4
|
|
|
20.4
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
41.6
|
|
|
22.8
|
|
|
18.8
|
|
|
—
|
|
|
43.2
|
|
|
24.8
|
|
|
18.4
|
|
|
—
|
|
||||||||
Risk parity allocation securities
|
40.6
|
|
|
—
|
|
|
40.6
|
|
|
—
|
|
|
44.3
|
|
|
—
|
|
|
44.3
|
|
|
—
|
|
||||||||
Fixed income securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Fixed income funds
|
123.1
|
|
|
—
|
|
|
123.1
|
|
|
—
|
|
|
130.9
|
|
|
0.1
|
|
|
130.8
|
|
|
—
|
|
||||||||
|
386.7
|
|
|
|
$113.7
|
|
|
|
$273.0
|
|
|
|
$—
|
|
|
440.4
|
|
|
|
$134.0
|
|
|
|
$306.4
|
|
|
|
$—
|
|
||
Accrued investment income
|
0.1
|
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
|
||||||||||||||
Due to brokers, net (pending trades with brokers)
|
—
|
|
|
|
|
|
|
|
|
(0.1
|
)
|
|
|
|
|
|
|
||||||||||||||
Total pension plan assets
|
|
$386.8
|
|
|
|
|
|
|
|
|
|
$440.3
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$3.6
|
|
|
|
$—
|
|
|
|
$3.6
|
|
|
|
$—
|
|
|
|
$3.7
|
|
|
|
$—
|
|
|
|
$3.7
|
|
|
|
$—
|
|
Equity securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
U.S. blend
|
21.1
|
|
|
21.1
|
|
|
—
|
|
|
—
|
|
|
35.8
|
|
|
35.8
|
|
|
—
|
|
|
—
|
|
||||||||
U.S. large cap core
|
0.9
|
|
|
0.9
|
|
|
—
|
|
|
—
|
|
|
2.9
|
|
|
2.9
|
|
|
—
|
|
|
—
|
|
||||||||
U.S. large cap value
|
0.5
|
|
|
—
|
|
|
0.5
|
|
|
—
|
|
|
1.5
|
|
|
—
|
|
|
1.5
|
|
|
—
|
|
||||||||
U.S. large cap growth
|
0.5
|
|
|
—
|
|
|
0.5
|
|
|
—
|
|
|
1.6
|
|
|
—
|
|
|
1.6
|
|
|
—
|
|
||||||||
U.S. small cap value
|
0.1
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
|
0.3
|
|
|
—
|
|
|
0.3
|
|
|
—
|
|
||||||||
U.S. small cap growth
|
0.1
|
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|
0.4
|
|
|
0.4
|
|
|
—
|
|
|
—
|
|
||||||||
International - blend
|
12.5
|
|
|
12.5
|
|
|
—
|
|
|
—
|
|
|
14.2
|
|
|
14.2
|
|
|
—
|
|
|
—
|
|
||||||||
International - developed markets
|
1.0
|
|
|
0.5
|
|
|
0.5
|
|
|
—
|
|
|
2.2
|
|
|
1.1
|
|
|
1.1
|
|
|
—
|
|
||||||||
International - emerging markets
|
0.4
|
|
|
0.4
|
|
|
—
|
|
|
—
|
|
|
1.0
|
|
|
1.0
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
16.4
|
|
|
16.0
|
|
|
0.4
|
|
|
—
|
|
|
30.3
|
|
|
29.4
|
|
|
0.9
|
|
|
—
|
|
||||||||
Risk parity allocation securities
|
0.9
|
|
|
—
|
|
|
0.9
|
|
|
—
|
|
|
2.2
|
|
|
—
|
|
|
2.2
|
|
|
—
|
|
||||||||
Fixed income securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Fixed income funds
|
48.9
|
|
|
46.3
|
|
|
2.6
|
|
|
—
|
|
|
25.5
|
|
|
19.0
|
|
|
6.5
|
|
|
—
|
|
||||||||
Total OPEB plan assets
|
|
$106.9
|
|
|
|
$97.8
|
|
|
|
$9.1
|
|
|
|
$—
|
|
|
|
$121.6
|
|
|
|
$103.8
|
|
|
|
$17.8
|
|
|
|
$—
|
|
|
2015
|
|
2014
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$0.9
|
|
|
|
$—
|
|
|
|
$0.9
|
|
|
|
$—
|
|
|
|
$1.4
|
|
|
|
$—
|
|
|
|
$1.4
|
|
|
|
$—
|
|
Equity securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
U.S. blend
|
16.6
|
|
|
16.6
|
|
|
—
|
|
|
—
|
|
|
27.2
|
|
|
27.2
|
|
|
—
|
|
|
—
|
|
||||||||
U.S. large cap core
|
0.1
|
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|
0.5
|
|
|
0.5
|
|
|
—
|
|
|
—
|
|
||||||||
U.S. large cap value
|
0.1
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
|
0.3
|
|
|
—
|
|
|
0.3
|
|
|
—
|
|
||||||||
U.S. large cap growth
|
0.1
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
|
0.3
|
|
|
—
|
|
|
0.3
|
|
|
—
|
|
||||||||
U.S. small cap value
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
||||||||
U.S. small cap growth
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.1
|
|
|
0.1
|
|
|
—
|
|
|
—
|
|
||||||||
International - blend
|
10.7
|
|
|
10.7
|
|
|
—
|
|
|
—
|
|
|
10.7
|
|
|
10.7
|
|
|
—
|
|
|
—
|
|
||||||||
International - developed markets
|
0.1
|
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|
0.4
|
|
|
0.2
|
|
|
0.2
|
|
|
—
|
|
||||||||
International - emerging markets
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.2
|
|
|
0.2
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
6.9
|
|
|
6.9
|
|
|
—
|
|
|
—
|
|
|
21.6
|
|
|
21.5
|
|
|
0.1
|
|
|
—
|
|
||||||||
Risk parity allocation securities
|
0.1
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
|
0.4
|
|
|
—
|
|
|
0.4
|
|
|
—
|
|
||||||||
Fixed income securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Fixed income funds
|
33.6
|
|
|
33.3
|
|
|
0.3
|
|
|
—
|
|
|
15.5
|
|
|
14.3
|
|
|
1.2
|
|
|
—
|
|
||||||||
Total OPEB plan assets
|
|
$69.2
|
|
|
|
$67.7
|
|
|
|
$1.5
|
|
|
|
$—
|
|
|
|
$78.7
|
|
|
|
$74.7
|
|
|
|
$4.0
|
|
|
|
$—
|
|
|
2015
|
|
2014
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$2.3
|
|
|
|
$—
|
|
|
|
$2.3
|
|
|
|
$—
|
|
|
|
$1.4
|
|
|
|
$—
|
|
|
|
$1.4
|
|
|
|
$—
|
|
Equity securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
U.S. blend
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3.6
|
|
|
3.6
|
|
|
—
|
|
|
—
|
|
||||||||
U.S. large cap core
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.6
|
|
|
1.6
|
|
|
—
|
|
|
—
|
|
||||||||
U.S. large cap value
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.8
|
|
|
—
|
|
|
0.8
|
|
|
—
|
|
||||||||
U.S. large cap growth
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.8
|
|
|
—
|
|
|
0.8
|
|
|
—
|
|
||||||||
U.S. small cap value
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.2
|
|
|
—
|
|
|
0.2
|
|
|
—
|
|
||||||||
U.S. small cap growth
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.2
|
|
|
0.2
|
|
|
—
|
|
|
—
|
|
||||||||
International - blend
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.4
|
|
|
1.4
|
|
|
—
|
|
|
—
|
|
||||||||
International - developed markets
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.2
|
|
|
0.6
|
|
|
0.6
|
|
|
—
|
|
||||||||
International - emerging markets
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.5
|
|
|
0.5
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
5.4
|
|
|
5.4
|
|
|
—
|
|
|
—
|
|
|
3.8
|
|
|
3.3
|
|
|
0.5
|
|
|
—
|
|
||||||||
Risk parity allocation securities
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.1
|
|
|
—
|
|
|
1.1
|
|
|
—
|
|
||||||||
Fixed income securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Fixed income funds
|
11.0
|
|
|
11.0
|
|
|
—
|
|
|
—
|
|
|
5.2
|
|
|
1.8
|
|
|
3.4
|
|
|
—
|
|
||||||||
Total OPEB plan assets
|
|
$18.7
|
|
|
|
$16.4
|
|
|
|
$2.3
|
|
|
|
$—
|
|
|
|
$21.8
|
|
|
|
$13.0
|
|
|
|
$8.8
|
|
|
|
$—
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
|
2014
|
|
|
2013
|
|
|
2015
|
|
2014
|
|
2013
|
|||||||||||||||
401(k) costs
|
|
$24.9
|
|
|
|
$22.5
|
|
|
|
$19.2
|
|
|
|
$12.7
|
|
|
|
$11.1
|
|
|
|
$9.9
|
|
|
|
$11.2
|
|
|
|
$10.5
|
|
|
|
$8.5
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
|
2015
|
|
2014
|
|
2013
|
||||||||||||||||||
Compensation expense
|
|
$10.7
|
|
|
|
$15.3
|
|
|
|
$12.0
|
|
|
|
$5.7
|
|
|
|
$8.3
|
|
|
|
$6.2
|
|
|
|
$4.7
|
|
|
|
$6.4
|
|
|
|
$5.2
|
|
Income tax benefits
|
4.4
|
|
|
6.2
|
|
|
4.8
|
|
|
2.4
|
|
|
3.4
|
|
|
2.5
|
|
|
1.9
|
|
|
2.6
|
|
|
2.1
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
|
2012 Grant
|
|
2011 Grant
|
|
2010 Grant
|
||||||
Performance shares vested
|
45,612
|
|
|
45,235
|
|
|
54,430
|
|
|||
Percentage of target number of performance shares
|
167.5
|
%
|
|
147.5
|
%
|
|
197.5
|
%
|
|||
Aggregate payout value (in millions)
|
|
$5.1
|
|
|
|
$3.4
|
|
|
|
$4.8
|
|
Payout - cash (in millions)
|
|
$3.2
|
|
|
|
$2.9
|
|
|
|
$4.4
|
|
Payout - common stock shares issued
|
10,975
|
|
|
4,810
|
|
|
4,177
|
|
|
2015
|
|
2014
|
|
2013
|
|||
Nonvested units, January 1
|
63,665
|
|
|
65,912
|
|
|
64,969
|
|
Granted
|
17,837
|
|
|
20,422
|
|
|
22,201
|
|
Vested
|
(22,845
|
)
|
|
(20,751
|
)
|
|
(19,760
|
)
|
Forfeited
|
(451
|
)
|
|
(1,918
|
)
|
|
(1,498
|
)
|
Nonvested units, December 31
|
58,206
|
|
|
63,665
|
|
|
65,912
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
|
2012 Grant
|
|
2011 Grant
|
|
2010 Grant
|
||||||
Performance units vested
|
22,845
|
|
|
20,751
|
|
|
19,760
|
|
|||
Percentage of target number of performance units
|
167.5
|
%
|
|
147.5
|
%
|
|
197.5
|
%
|
|||
Payout value (in millions)
|
|
$1.6
|
|
|
|
$1.2
|
|
|
|
$1.3
|
|
|
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 December 31, 2015
|
|
$62.45
|
|
|
|
$62.45
|
|
|
|
$62.45
|
|
|
|
|
|
|
|
||||||
Alliant Energy common stock closing price on grant date
|
|
|
|
|
|
|
|
$65.09
|
|
|
|
$53.77
|
|
|
|
$47.58
|
|
||||||
Estimated payout percentage based on performance criteria
|
80
|
%
|
|
125
|
%
|
|
165
|
%
|
|
80
|
%
|
|
125
|
%
|
|
165
|
%
|
||||||
Fair values of each nonvested award
|
|
$49.96
|
|
|
|
$78.06
|
|
|
|
$103.04
|
|
|
|
$52.07
|
|
|
|
$67.21
|
|
|
|
$78.51
|
|
|
2015
|
|
2014
|
|
2013
|
|||||||||||||||
|
Shares
|
|
Weighted
Average
Fair Value
|
|
Shares
|
|
Weighted
Average
Fair Value
|
|
Shares
|
|
Weighted
Average
Fair Value
|
|||||||||
Nonvested shares, January 1
|
98,812
|
|
|
|
$50.69
|
|
|
158,922
|
|
|
|
$42.71
|
|
|
211,651
|
|
|
|
$32.42
|
|
Granted
|
45,403
|
|
|
65.09
|
|
|
51,221
|
|
|
53.77
|
|
|
49,093
|
|
|
47.58
|
|
|||
Vested (a)
|
(49,093
|
)
|
|
47.58
|
|
|
(90,847
|
)
|
|
40.91
|
|
|
—
|
|
|
—
|
|
|||
Forfeited (b)
|
—
|
|
|
—
|
|
|
(20,484
|
)
|
|
39.85
|
|
|
(101,822
|
)
|
|
23.67
|
|
|||
Nonvested shares, December 31
|
95,122
|
|
|
59.17
|
|
|
98,812
|
|
|
50.69
|
|
|
158,922
|
|
|
42.71
|
|
(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.
|
(b)
|
In 2013,
101,822
performance-contingent restricted shares granted in 2009 were forfeited because the specified performance criteria for such shares were not met. The forfeitures during 2014 were primarily caused by retirements and terminations of participants.
|
|
2015
|
|
2014
|
|
2013
|
|||
Nonvested awards, January 1
|
78,930
|
|
|
96,977
|
|
|
59,639
|
|
Granted
|
41,105
|
|
|
42,446
|
|
|
39,530
|
|
Vested (a)
|
(37,332
|
)
|
|
(55,517
|
)
|
|
—
|
|
Forfeited
|
(827
|
)
|
|
(4,976
|
)
|
|
(2,192
|
)
|
Nonvested awards, December 31
|
81,876
|
|
|
78,930
|
|
|
96,977
|
|
(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.
|
|
2015
|
|
2014
|
||||
Carrying value
|
|
$8.5
|
|
|
|
$8.9
|
|
Fair market value
|
13.4
|
|
|
15.9
|
|
|
Alliant Energy
|
|
IPL
|
||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Carrying value
|
$18.3
|
|
$17.8
|
|
$5.0
|
|
$5.2
|
|
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 (a)
|
17.3
|
|
|
—
|
|
|
15.1
|
|
|
—
|
|
|
3.2
|
|
|
—
|
|
||||||
Liabilities settled
|
(8.8
|
)
|
|
(3.4
|
)
|
|
(4.3
|
)
|
|
(1.4
|
)
|
|
(4.5
|
)
|
|
(2.0
|
)
|
||||||
Liabilities incurred (a)
|
86.6
|
|
|
3.7
|
|
|
67.8
|
|
|
3.5
|
|
|
18.8
|
|
|
0.2
|
|
||||||
Accretion expense
|
4.9
|
|
|
4.0
|
|
|
2.5
|
|
|
1.8
|
|
|
2.0
|
|
|
1.8
|
|
||||||
Balance, December 31
|
|
$214.0
|
|
|
|
$114.0
|
|
|
|
$132.9
|
|
|
|
$51.8
|
|
|
|
$71.9
|
|
|
|
$52.4
|
|
(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. In 2015, Alliant Energy, IPL and WPL recognized additional AROs of
$87 million
,
$67 million
and
$20 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 in 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.
|
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
|
2015
|
|
2014
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
|
$18.4
|
|
|
|
$—
|
|
|
|
$2.5
|
|
|
|
$15.9
|
|
|
|
$18.4
|
|
|
|
$38.6
|
|
|
|
$—
|
|
|
|
$2.6
|
|
|
|
$36.0
|
|
|
|
$38.6
|
|
Deferred proceeds
|
172.0
|
|
|
—
|
|
|
—
|
|
|
172.0
|
|
|
172.0
|
|
|
177.2
|
|
|
—
|
|
|
—
|
|
|
177.2
|
|
|
177.2
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
64.6
|
|
|
—
|
|
|
16.0
|
|
|
48.6
|
|
|
64.6
|
|
|
37.6
|
|
|
—
|
|
|
19.5
|
|
|
18.1
|
|
|
37.6
|
|
||||||||||
Long-term debt (including current maturities)
|
3,835.6
|
|
|
—
|
|
|
4,332.4
|
|
|
3.7
|
|
|
4,336.1
|
|
|
3,767.3
|
|
|
—
|
|
|
4,414.9
|
|
|
3.3
|
|
|
4,418.2
|
|
||||||||||
Cumulative preferred stock of IPL
|
200.0
|
|
|
206.6
|
|
|
—
|
|
|
—
|
|
|
206.6
|
|
|
200.0
|
|
|
200.2
|
|
|
—
|
|
|
—
|
|
|
200.2
|
|
IPL
|
2015
|
|
2014
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
|
$15.5
|
|
|
|
$—
|
|
|
|
$2.0
|
|
|
|
$13.5
|
|
|
|
$15.5
|
|
|
|
$28.0
|
|
|
|
$—
|
|
|
|
$2.4
|
|
|
|
$25.6
|
|
|
|
$28.0
|
|
Deferred proceeds
|
172.0
|
|
|
—
|
|
|
—
|
|
|
172.0
|
|
|
172.0
|
|
|
177.2
|
|
|
—
|
|
|
—
|
|
|
177.2
|
|
|
177.2
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
23.4
|
|
|
—
|
|
|
8.0
|
|
|
15.4
|
|
|
23.4
|
|
|
19.5
|
|
|
—
|
|
|
13.3
|
|
|
6.2
|
|
|
19.5
|
|
||||||||||
Long-term debt (including current maturities)
|
1,856.9
|
|
|
—
|
|
|
2,092.7
|
|
|
—
|
|
|
2,092.7
|
|
|
1,758.0
|
|
|
—
|
|
|
2,053.0
|
|
|
—
|
|
|
2,053.0
|
|
||||||||||
Cumulative preferred stock
|
200.0
|
|
|
206.6
|
|
|
—
|
|
|
—
|
|
|
206.6
|
|
|
200.0
|
|
|
200.2
|
|
|
—
|
|
|
—
|
|
|
200.2
|
|
WPL
|
2015
|
|
2014
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
|
$2.9
|
|
|
|
$—
|
|
|
|
$0.5
|
|
|
|
$2.4
|
|
|
|
$2.9
|
|
|
|
$10.6
|
|
|
|
$—
|
|
|
|
$0.2
|
|
|
|
$10.4
|
|
|
|
$10.6
|
|
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
41.2
|
|
|
—
|
|
|
8.0
|
|
|
33.2
|
|
|
41.2
|
|
|
18.1
|
|
|
—
|
|
|
6.2
|
|
|
11.9
|
|
|
18.1
|
|
||||||||||
Long-term debt (including current maturities)
|
1,533.9
|
|
|
—
|
|
|
1,793.0
|
|
|
—
|
|
|
1,793.0
|
|
|
1,563.1
|
|
|
—
|
|
|
1,908.9
|
|
|
—
|
|
|
1,908.9
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Beginning balance, January 1
|
|
$17.9
|
|
|
|
$4.4
|
|
|
|
$177.2
|
|
|
|
$203.5
|
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
(63.5
|
)
|
|
11.1
|
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
0.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Purchases
|
36.9
|
|
|
76.7
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(1.9
|
)
|
|
(2.2
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(22.4
|
)
|
|
(72.1
|
)
|
|
(5.2
|
)
|
|
(26.3
|
)
|
||||
Ending balance, December 31
|
|
($32.7
|
)
|
|
|
$17.9
|
|
|
|
$172.0
|
|
|
|
$177.2
|
|
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 December 31
|
|
($56.0
|
)
|
|
|
($0.4
|
)
|
|
|
$—
|
|
|
|
$—
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Beginning balance, January 1
|
|
$19.4
|
|
|
|
$14.6
|
|
|
|
$177.2
|
|
|
|
$203.5
|
|
Total net losses included in changes in net assets (realized/unrealized)
|
(29.6
|
)
|
|
(5.9
|
)
|
|
—
|
|
|
—
|
|
||||
Purchases
|
33.1
|
|
|
68.8
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(1.8
|
)
|
|
(2.0
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(23.0
|
)
|
|
(56.1
|
)
|
|
(5.2
|
)
|
|
(26.3
|
)
|
||||
Ending balance, December 31
|
|
($1.9
|
)
|
|
|
$19.4
|
|
|
|
$172.0
|
|
|
|
$177.2
|
|
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 December 31
|
|
($23.1
|
)
|
|
|
($9.3
|
)
|
|
|
$—
|
|
|
|
$—
|
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
|
2015
|
|
2014
|
||||
Beginning balance, January 1
|
|
($1.5
|
)
|
|
|
($10.2
|
)
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
(33.9
|
)
|
|
17.0
|
|
||
Transfers out of Level 3
|
0.3
|
|
|
—
|
|
||
Purchases
|
3.8
|
|
|
7.9
|
|
||
Sales
|
(0.1
|
)
|
|
(0.2
|
)
|
||
Settlements
|
0.6
|
|
|
(16.0
|
)
|
||
Ending balance, December 31
|
|
($30.8
|
)
|
|
|
($1.5
|
)
|
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 December 31
|
|
($32.9
|
)
|
|
|
$8.9
|
|
(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 amounts received from the receivables sold.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
||||||||||||
2015
|
|
($43.1
|
)
|
|
|
$10.4
|
|
|
|
($12.3
|
)
|
|
|
$10.4
|
|
|
|
($30.8
|
)
|
|
|
$—
|
|
2014
|
(7.0
|
)
|
|
24.9
|
|
|
(3.2
|
)
|
|
22.6
|
|
|
(3.8
|
)
|
|
2.3
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Commodity contracts
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||
Current derivative assets
|
|
$15.1
|
|
|
|
$30.5
|
|
|
|
$13.8
|
|
|
|
$27.4
|
|
|
|
$1.3
|
|
|
|
$3.1
|
|
Non-current derivative assets
|
3.3
|
|
|
8.1
|
|
|
1.7
|
|
|
0.6
|
|
|
1.6
|
|
|
7.5
|
|
||||||
Current derivative liabilities
|
47.3
|
|
|
28.1
|
|
|
18.5
|
|
|
16.4
|
|
|
28.8
|
|
|
11.7
|
|
||||||
Non-current derivative liabilities
|
17.3
|
|
|
9.5
|
|
|
4.9
|
|
|
3.1
|
|
|
12.4
|
|
|
6.4
|
|
Alliant Energy
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|
Total
|
||||||||||||||
Purchased power (a):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
DAEC (IPL) (b)
|
|
$125
|
|
|
|
$138
|
|
|
|
$131
|
|
|
|
$143
|
|
|
|
$133
|
|
|
|
$749
|
|
|
|
$1,419
|
|
Other
|
77
|
|
|
44
|
|
|
44
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
165
|
|
|||||||
|
202
|
|
|
182
|
|
|
175
|
|
|
143
|
|
|
133
|
|
|
749
|
|
|
1,584
|
|
|||||||
Natural gas
|
173
|
|
|
82
|
|
|
52
|
|
|
43
|
|
|
32
|
|
|
16
|
|
|
398
|
|
|||||||
Coal (c)
|
129
|
|
|
76
|
|
|
50
|
|
|
12
|
|
|
—
|
|
|
—
|
|
|
267
|
|
|||||||
SO2 emission allowances
|
14
|
|
|
8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
22
|
|
|||||||
Other (d)
|
6
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
7
|
|
|
21
|
|
|||||||
|
|
$524
|
|
|
|
$350
|
|
|
|
$279
|
|
|
|
$200
|
|
|
|
$167
|
|
|
|
$772
|
|
|
|
$2,292
|
|
IPL
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|
Total
|
||||||||||||||
Purchased power (a):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
DAEC (b)
|
|
$125
|
|
|
|
$138
|
|
|
|
$131
|
|
|
|
$143
|
|
|
|
$133
|
|
|
|
$749
|
|
|
|
$1,419
|
|
Other
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||||||
|
126
|
|
|
138
|
|
|
131
|
|
|
143
|
|
|
133
|
|
|
749
|
|
|
1,420
|
|
|||||||
Natural gas
|
95
|
|
|
42
|
|
|
35
|
|
|
28
|
|
|
18
|
|
|
10
|
|
|
228
|
|
|||||||
Coal (c)
|
70
|
|
|
30
|
|
|
17
|
|
|
4
|
|
|
—
|
|
|
—
|
|
|
121
|
|
|||||||
SO2 emission allowances
|
14
|
|
|
8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
22
|
|
|||||||
Other (d)
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||||||
|
$306
|
|
|
$218
|
|
|
|
$183
|
|
|
|
$175
|
|
|
|
$151
|
|
|
|
$759
|
|
|
|
$1,792
|
|
WPL
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
Thereafter
|
|
Total
|
||||||||||||||
Purchased power (a)
|
|
$76
|
|
|
|
$44
|
|
|
|
$44
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$164
|
|
Natural gas
|
78
|
|
|
40
|
|
|
17
|
|
|
15
|
|
|
14
|
|
|
6
|
|
|
170
|
|
|||||||
Coal (c)
|
59
|
|
|
46
|
|
|
33
|
|
|
8
|
|
|
—
|
|
|
—
|
|
|
146
|
|
|||||||
Other (d)
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|||||||
|
|
$215
|
|
|
|
$130
|
|
|
|
$94
|
|
|
|
$23
|
|
|
|
$14
|
|
|
|
$6
|
|
|
|
$482
|
|
(a)
|
Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. Refer to
Note 18
for additional information on purchased power transactions.
|
(b)
|
Includes commitments incurred under a PPA, which grants IPL rights to purchase up to
431
MWs of capacity and the resulting energy from DAEC for a term through December 31, 2025. If energy delivered is less than the targeted energy amount, an adjustment payment will be made to IPL, which will be reflected in IPL’s fuel adjustment clause.
|
(c)
|
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
December 31, 2015
regarding expected future usage, which is subject to change.
|
(d)
|
Includes individual commitments incurred during the normal course of business that exceeded
$1 million
at
December 31, 2015
.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||
Current environmental liabilities
|
|
$2.7
|
|
|
|
$2.0
|
|
|
|
$1.7
|
|
|
|
$1.7
|
|
|
|
$1.0
|
|
|
|
$0.3
|
|
Non-current environmental liabilities
|
12.8
|
|
|
13.5
|
|
|
11.2
|
|
|
11.9
|
|
|
1.5
|
|
|
1.6
|
|
||||||
|
|
$15.5
|
|
|
|
$15.5
|
|
|
|
$12.9
|
|
|
|
$13.6
|
|
|
|
$2.5
|
|
|
|
$1.9
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Range of estimated future costs
|
|
$11
|
|
-
|
$28
|
|
|
$9
|
|
-
|
$25
|
|
|
$2
|
|
-
|
$3
|
Current and non-current environmental liabilities
|
15
|
|
13
|
|
2
|
•
|
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 -
includes the operations of IPL and WPL, which primarily serve retail customers in Iowa and Wisconsin. The utility business has
three
reportable segments: a) utility electric operations; b) utility gas operations; and c) utility other, which includes steam operations and the unallocated portions of the utility business. Various line items in the following tables are not allocated to the electric and gas segments for management reporting purposes, and therefore, are included only in “Total Utility.”
|
•
|
Non-regulated, Parent and Other -
includes the operations of Resources and its subsidiaries, Corporate Services, the Alliant Energy parent company, and any Alliant Energy parent company consolidating adjustments. Resources’ businesses include Transportation, Non-regulated Generation and other non-regulated investments described in
Note 1(a)
.
|
|
Utility
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
2015
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
Operating revenues
|
|
$2,770.5
|
|
|
|
$381.2
|
|
|
|
$57.9
|
|
|
|
$3,209.6
|
|
|
|
$44.0
|
|
|
|
$3,253.6
|
|
Depreciation and amortization
|
358.6
|
|
|
31.1
|
|
|
1.8
|
|
|
391.5
|
|
|
9.8
|
|
|
401.3
|
|
||||||
Operating income
|
514.1
|
|
|
34.6
|
|
|
1.9
|
|
|
550.6
|
|
|
26.4
|
|
|
577.0
|
|
||||||
Interest expense
|
|
|
|
|
|
|
189.2
|
|
|
(2.1
|
)
|
|
187.1
|
|
|||||||||
Equity (income) loss from unconsolidated investments, net
|
(35.1
|
)
|
|
—
|
|
|
—
|
|
|
(35.1
|
)
|
|
1.3
|
|
|
(33.8
|
)
|
||||||
Income taxes
|
|
|
|
|
|
|
60.2
|
|
|
10.2
|
|
|
70.4
|
|
|||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
362.3
|
|
|
15.9
|
|
|
378.2
|
|
|||||||||
Total assets
|
10,211.3
|
|
|
939.3
|
|
|
828.9
|
|
|
11,979.5
|
|
|
515.7
|
|
|
12,495.2
|
|
||||||
Investments in equity method subsidiaries
|
302.0
|
|
|
—
|
|
|
—
|
|
|
302.0
|
|
|
0.9
|
|
|
302.9
|
|
||||||
Construction and acquisition expenditures
|
855.8
|
|
|
106.4
|
|
|
1.4
|
|
|
963.6
|
|
|
70.7
|
|
|
1,034.3
|
|
|
Utility
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
2014
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
Operating revenues
|
|
$2,713.6
|
|
|
|
$517.5
|
|
|
|
$66.1
|
|
|
|
$3,297.2
|
|
|
|
$53.1
|
|
|
|
$3,350.3
|
|
Depreciation and amortization
|
347.0
|
|
|
29.9
|
|
|
1.8
|
|
|
378.7
|
|
|
9.4
|
|
|
388.1
|
|
||||||
Operating income
|
442.4
|
|
|
53.8
|
|
|
14.0
|
|
|
510.2
|
|
|
33.4
|
|
|
543.6
|
|
||||||
Interest expense
|
|
|
|
|
|
|
176.3
|
|
|
4.3
|
|
|
180.6
|
|
|||||||||
Equity (income) loss from unconsolidated investments, net
|
(42.8
|
)
|
|
—
|
|
|
—
|
|
|
(42.8
|
)
|
|
2.4
|
|
|
(40.4
|
)
|
||||||
Income taxes
|
|
|
|
|
|
|
36.4
|
|
|
7.9
|
|
|
44.3
|
|
|||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
362.0
|
|
|
21.1
|
|
|
383.1
|
|
|||||||||
Total assets
|
9,660.4
|
|
|
913.5
|
|
|
993.9
|
|
|
11,567.8
|
|
|
495.7
|
|
|
12,063.5
|
|
||||||
Investments in equity method subsidiaries
|
294.3
|
|
|
—
|
|
|
—
|
|
|
294.3
|
|
|
2.3
|
|
|
296.6
|
|
||||||
Construction and acquisition expenditures
|
774.8
|
|
|
63.2
|
|
|
0.9
|
|
|
838.9
|
|
|
63.9
|
|
|
902.8
|
|
|
Utility
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
2013
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
Operating revenues
|
|
$2,689.0
|
|
|
|
$464.8
|
|
|
|
$71.3
|
|
|
|
$3,225.1
|
|
|
|
$51.7
|
|
|
|
$3,276.8
|
|
Depreciation and amortization
|
333.0
|
|
|
28.8
|
|
|
1.5
|
|
|
363.3
|
|
|
7.6
|
|
|
370.9
|
|
||||||
Operating income
|
444.5
|
|
|
57.3
|
|
|
6.3
|
|
|
508.1
|
|
|
25.8
|
|
|
533.9
|
|
||||||
Interest expense
|
|
|
|
|
|
|
166.3
|
|
|
6.5
|
|
|
172.8
|
|
|||||||||
Equity income from unconsolidated investments, net
|
(43.7
|
)
|
|
—
|
|
|
—
|
|
|
(43.7
|
)
|
|
—
|
|
|
(43.7
|
)
|
||||||
Income taxes
|
|
|
|
|
|
|
49.3
|
|
|
4.6
|
|
|
53.9
|
|
|||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
349.5
|
|
|
8.8
|
|
|
358.3
|
|
|||||||||
Total assets
|
9,018.6
|
|
|
859.3
|
|
|
712.2
|
|
|
10,590.1
|
|
|
502.4
|
|
|
11,092.5
|
|
||||||
Investments in equity method subsidiaries
|
279.1
|
|
|
—
|
|
|
—
|
|
|
279.1
|
|
|
2.3
|
|
|
281.4
|
|
||||||
Construction and acquisition expenditures
|
677.3
|
|
|
47.0
|
|
|
7.3
|
|
|
731.6
|
|
|
66.7
|
|
|
798.3
|
|
|
2015
|
|
2014
|
|
2013
|
|||
Utility electric operations
|
85
|
%
|
|
81
|
%
|
|
82
|
%
|
Utility gas operations
|
12
|
%
|
|
15
|
%
|
|
14
|
%
|
Utility other
|
2
|
%
|
|
2
|
%
|
|
2
|
%
|
Other
|
1
|
%
|
|
2
|
%
|
|
2
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
2015
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,503.8
|
|
|
|
$217.3
|
|
|
|
$53.4
|
|
|
|
$1,774.5
|
|
Depreciation and amortization
|
187.9
|
|
|
17.5
|
|
|
1.8
|
|
|
207.2
|
|
||||
Operating income
|
218.8
|
|
|
17.7
|
|
|
5.4
|
|
|
241.9
|
|
||||
Interest expense
|
|
|
|
|
|
|
96.8
|
|
|||||||
Income tax benefit
|
|
|
|
|
|
|
(22.7
|
)
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
186.0
|
|
|||||||
Total assets
|
5,754.1
|
|
|
548.2
|
|
|
406.8
|
|
|
6,709.1
|
|
||||
Construction and acquisition expenditures
|
561.2
|
|
|
56.7
|
|
|
1.4
|
|
|
619.3
|
|
2014
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,493.3
|
|
|
|
$296.5
|
|
|
|
$58.3
|
|
|
|
$1,848.1
|
|
Depreciation and amortization
|
178.7
|
|
|
17.0
|
|
|
1.8
|
|
|
197.5
|
|
||||
Operating income
|
166.8
|
|
|
25.7
|
|
|
16.7
|
|
|
209.2
|
|
||||
Interest expense
|
|
|
|
|
|
|
89.9
|
|
|||||||
Income tax benefit
|
|
|
|
|
|
|
(48.9
|
)
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
181.6
|
|
|||||||
Total assets
|
5,398.3
|
|
|
544.1
|
|
|
507.8
|
|
|
6,450.2
|
|
||||
Construction and acquisition expenditures
|
490.0
|
|
|
35.1
|
|
|
0.9
|
|
|
526.0
|
|
2013
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,491.8
|
|
|
|
$273.9
|
|
|
|
$53.1
|
|
|
|
$1,818.8
|
|
Depreciation and amortization
|
173.1
|
|
|
16.5
|
|
|
1.5
|
|
|
191.1
|
|
||||
Operating income
|
173.1
|
|
|
29.8
|
|
|
9.1
|
|
|
212.0
|
|
||||
Interest expense
|
|
|
|
|
|
|
81.3
|
|
|||||||
Income tax benefit
|
|
|
|
|
|
|
(36.3
|
)
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
172.0
|
|
|||||||
Total assets
|
4,905.3
|
|
|
518.8
|
|
|
369.8
|
|
|
5,793.9
|
|
||||
Construction and acquisition expenditures
|
365.4
|
|
|
27.5
|
|
|
7.3
|
|
|
400.2
|
|
2015
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,266.7
|
|
|
|
$163.9
|
|
|
|
$4.5
|
|
|
|
$1,435.1
|
|
Depreciation and amortization
|
170.7
|
|
|
13.6
|
|
|
—
|
|
|
184.3
|
|
||||
Operating income (loss)
|
295.3
|
|
|
16.9
|
|
|
(3.5
|
)
|
|
308.7
|
|
||||
Interest expense
|
|
|
|
|
|
|
92.4
|
|
|||||||
Equity income from unconsolidated investments
|
(35.1
|
)
|
|
—
|
|
|
—
|
|
|
(35.1
|
)
|
||||
Income taxes
|
|
|
|
|
|
|
82.9
|
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
176.3
|
|
|||||||
Total assets
|
4,457.2
|
|
|
391.1
|
|
|
422.1
|
|
|
5,270.4
|
|
||||
Investments in equity method subsidiaries
|
302.0
|
|
|
—
|
|
|
—
|
|
|
302.0
|
|
||||
Construction and acquisition expenditures
|
294.6
|
|
|
49.7
|
|
|
—
|
|
|
344.3
|
|
2014
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,220.3
|
|
|
|
$221.0
|
|
|
|
$7.8
|
|
|
|
$1,449.1
|
|
Depreciation and amortization
|
168.3
|
|
|
12.9
|
|
|
—
|
|
|
181.2
|
|
||||
Operating income (loss)
|
275.6
|
|
|
28.1
|
|
|
(2.7
|
)
|
|
301.0
|
|
||||
Interest expense
|
|
|
|
|
|
|
86.4
|
|
|||||||
Equity income from unconsolidated investments
|
(42.8
|
)
|
|
—
|
|
|
—
|
|
|
(42.8
|
)
|
||||
Income taxes
|
|
|
|
|
|
|
85.3
|
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
180.4
|
|
|||||||
Total assets
|
4,262.1
|
|
|
369.4
|
|
|
486.1
|
|
|
5,117.6
|
|
||||
Investments in equity method subsidiaries
|
294.3
|
|
|
—
|
|
|
—
|
|
|
294.3
|
|
||||
Construction and acquisition expenditures
|
284.8
|
|
|
28.1
|
|
|
—
|
|
|
312.9
|
|
2013
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,197.2
|
|
|
|
$190.9
|
|
|
|
$18.2
|
|
|
|
$1,406.3
|
|
Depreciation and amortization
|
159.9
|
|
|
12.3
|
|
|
—
|
|
|
172.2
|
|
||||
Operating income (loss)
|
271.4
|
|
|
27.5
|
|
|
(2.8
|
)
|
|
296.1
|
|
||||
Interest expense
|
|
|
|
|
|
|
85.0
|
|
|||||||
Equity income from unconsolidated investments
|
(43.7
|
)
|
|
—
|
|
|
—
|
|
|
(43.7
|
)
|
||||
Income taxes
|
|
|
|
|
|
|
85.6
|
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
177.5
|
|
|||||||
Total assets
|
4,113.3
|
|
|
340.5
|
|
|
342.4
|
|
|
4,796.2
|
|
||||
Investments in equity method subsidiaries
|
279.1
|
|
|
—
|
|
|
—
|
|
|
279.1
|
|
||||
Construction and acquisition expenditures
|
311.9
|
|
|
19.5
|
|
|
—
|
|
|
331.4
|
|
|
2015
|
|
2014
|
||||
IPL
|
|
$93
|
|
|
|
$84
|
|
WPL
|
54
|
|
|
58
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
ATC billings to WPL
|
|
$101
|
|
|
|
$96
|
|
|
|
$96
|
|
WPL billings to ATC
|
13
|
|
|
9
|
|
|
12
|
|
|
2015
|
|
2014
|
|
2013
|
||||||
Operating revenues
|
|
$—
|
|
|
|
$—
|
|
|
|
$0.9
|
|
Operating expenses
|
4.0
|
|
|
3.7
|
|
|
9.9
|
|
|||
Loss before income taxes
|
(4.0
|
)
|
|
(3.7
|
)
|
|
(9.0
|
)
|
|||
Income tax benefit
|
(1.5
|
)
|
|
(1.3
|
)
|
|
(3.1
|
)
|
|||
Loss from discontinued operations, net of tax
|
|
($2.5
|
)
|
|
|
($2.4
|
)
|
|
|
($5.9
|
)
|
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
|
|
|
2015
|
|
2014
|
||||||||||||||||||||||||||||
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
||||||||||||||||
|
(in millions, except per share data)
|
||||||||||||||||||||||||||||||
Operating revenues
|
|
$897.4
|
|
|
|
$717.2
|
|
|
|
$898.9
|
|
|
|
$740.1
|
|
|
|
$952.8
|
|
|
|
$750.3
|
|
|
|
$843.1
|
|
|
|
$804.1
|
|
Operating income
|
152.9
|
|
|
109.0
|
|
|
235.9
|
|
|
79.2
|
|
|
154.2
|
|
|
103.3
|
|
|
194.8
|
|
|
91.3
|
|
||||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Income from continuing operations, net of tax
|
96.6
|
|
|
68.9
|
|
|
180.0
|
|
|
35.2
|
|
|
108.0
|
|
|
62.1
|
|
|
155.2
|
|
|
60.2
|
|
||||||||
Loss from discontinued operations, net of tax
|
—
|
|
|
(1.3
|
)
|
|
(0.1
|
)
|
|
(1.1
|
)
|
|
—
|
|
|
(0.3
|
)
|
|
(1.9
|
)
|
|
(0.2
|
)
|
||||||||
Net income
|
96.6
|
|
|
67.6
|
|
|
179.9
|
|
|
34.1
|
|
|
108.0
|
|
|
61.8
|
|
|
153.3
|
|
|
60.0
|
|
||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Income from continuing operations, net of tax
|
0.87
|
|
|
0.61
|
|
|
1.59
|
|
|
0.31
|
|
|
0.97
|
|
|
0.56
|
|
|
1.40
|
|
|
0.54
|
|
||||||||
Loss from discontinued operations, net of tax
|
—
|
|
|
(0.01
|
)
|
|
—
|
|
|
(0.01
|
)
|
|
—
|
|
|
—
|
|
|
(0.02
|
)
|
|
—
|
|
||||||||
Net income
|
0.87
|
|
|
0.60
|
|
|
1.59
|
|
|
0.30
|
|
|
0.97
|
|
|
0.56
|
|
|
1.38
|
|
|
0.54
|
|
|
2015
|
|
2014
|
||||||||||||||||||||||||||||
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
||||||||||||||||
|
(in millions)
|
||||||||||||||||||||||||||||||
Operating revenues
|
|
$489.0
|
|
|
|
$382.2
|
|
|
|
$504.6
|
|
|
|
$398.7
|
|
|
|
$528.9
|
|
|
|
$411.9
|
|
|
|
$476.2
|
|
|
|
$431.1
|
|
Operating income
|
65.5
|
|
|
33.8
|
|
|
117.0
|
|
|
25.6
|
|
|
57.5
|
|
|
34.0
|
|
|
93.9
|
|
|
23.8
|
|
||||||||
Net income
|
50.1
|
|
|
19.0
|
|
|
119.1
|
|
|
8.0
|
|
|
45.3
|
|
|
20.5
|
|
|
104.6
|
|
|
21.4
|
|
||||||||
Earnings available for common stock
|
47.5
|
|
|
16.5
|
|
|
116.5
|
|
|
5.5
|
|
|
42.7
|
|
|
18.0
|
|
|
102.0
|
|
|
18.9
|
|
|
2015
|
|
2014
|
||||||||||||||||||||||||||||
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
||||||||||||||||
|
(in millions)
|
||||||||||||||||||||||||||||||
Operating revenues
|
|
$397.1
|
|
|
|
$324.7
|
|
|
|
$382.6
|
|
|
|
$330.7
|
|
|
|
$410.4
|
|
|
|
$324.5
|
|
|
|
$354.4
|
|
|
|
$359.8
|
|
Operating income
|
80.8
|
|
|
68.3
|
|
|
110.3
|
|
|
49.3
|
|
|
87.7
|
|
|
60.0
|
|
|
93.9
|
|
|
59.4
|
|
||||||||
Net income
|
45.1
|
|
|
39.7
|
|
|
68.4
|
|
|
24.4
|
|
|
55.2
|
|
|
34.7
|
|
|
57.9
|
|
|
33.3
|
|
||||||||
Earnings available for common stock
|
44.9
|
|
|
39.2
|
|
|
68.0
|
|
|
24.2
|
|
|
55.2
|
|
|
34.7
|
|
|
57.9
|
|
|
32.6
|
|
|
|
(A)
|
|
|
|
(C)
|
|
|
Number of securities to be
|
|
(B)
|
|
Number of securities remaining available
|
|
|
issued upon exercise of
|
|
Weighted-average exercise
|
|
for future issuance under equity
|
|
|
outstanding options,
|
|
price of outstanding options,
|
|
compensation plans (excluding
|
Plan Category
|
|
warrants and rights
|
|
warrants and rights
|
|
securities reflected in column (A))
|
Equity compensation plans approved by shareowners
|
|
271,247 (a)
|
|
$55.71
|
|
3,828,384 (b)
|
Equity compensation plans not approved by shareowners (c)
|
|
N/A
|
|
N/A
|
|
N/A (d)
|
|
|
271,247
|
|
$55.71
|
|
3,828,384
|
(a)
|
Represents performance shares granted under the OIP. The performance shares may be paid out in shares of Alliant Energy’s common stock, cash, or a combination of cash and stock and are adjusted by a performance multiplier, which ranges from zero to 200%, based on the performance criteria. The performance shares included in column (A) of the table reflect an assumed payout in the form of Alliant Energy’s common stock at the maximum performance multiplier of 200% for the
2015
and
2014
grants and at the actual performance multiplier of 165% for the
2013
grants.
|
(b)
|
All of the available shares under the Amended and Restated OIP may be issued as awards in the form of shares of Alliant Energy’s common stock, restricted stock, restricted stock units, performance shares, performance units and other stock-based or cash-based awards. As of
December 31, 2015
, there were performance shares and restricted stock awards outstanding under the Amended and Restated OIP. Excludes 95,122 shares of non-vested restricted common stock previously issued and outstanding under the Amended and Restated OIP at
December 31, 2015
.
|
(c)
|
As of
December 31, 2015
, there were 215,093 shares of Alliant Energy’s common stock outstanding under the DCP, which is described in
Note 12(c)
.
|
(d)
|
There is no limit on the number of shares of Alliant Energy’s common stock that may be held under the DCP.
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||||||||||||||
|
Fees
|
|
% of Total
|
|
Fees
|
|
% of Total
|
|
Fees
|
|
% of Total
|
|
Fees
|
|
% of Total
|
||||||||||||
Audit fees
|
|
$1,036
|
|
|
91
|
%
|
|
|
$1,037
|
|
|
91
|
%
|
|
|
$969
|
|
|
95
|
%
|
|
|
$1,042
|
|
|
96
|
%
|
Audit-related fees
|
90
|
|
|
8
|
%
|
|
88
|
|
|
8
|
%
|
|
41
|
|
|
4
|
%
|
|
38
|
|
|
3
|
%
|
||||
All other fees
|
7
|
|
|
1
|
%
|
|
9
|
|
|
1
|
%
|
|
7
|
|
|
1
|
%
|
|
9
|
|
|
1
|
%
|
||||
|
|
$1,133
|
|
|
100
|
%
|
|
|
$1,134
|
|
|
100
|
%
|
|
|
$1,017
|
|
|
100
|
%
|
|
|
$1,089
|
|
|
100
|
%
|
(1)
|
Consolidated Financial Statements - Refer to
Item 8
Financial Statements and Supplementary Data.
|
(2)
|
Financial Statement Schedules
-
|
(3)
|
Exhibits Required by SEC Regulation S-K
- Exhibits for Alliant Energy, IPL and WPL are listed in the
Exhibit Index
, which is incorporated herein by reference.
|
|
Year Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
|
(in millions)
|
||||||||||
Operating revenues
|
|
$2
|
|
|
|
$2
|
|
|
|
$2
|
|
Operating expenses
|
3
|
|
|
3
|
|
|
1
|
|
|||
Operating income (loss)
|
(1
|
)
|
|
(1
|
)
|
|
1
|
|
|||
Interest expense and other:
|
|
|
|
|
|
||||||
Equity earnings from consolidated subsidiaries
|
(379
|
)
|
|
(388
|
)
|
|
(361
|
)
|
|||
Interest expense
|
3
|
|
|
9
|
|
|
11
|
|
|||
Interest income
|
(3
|
)
|
|
(2
|
)
|
|
(2
|
)
|
|||
Total interest expense and other
|
(379
|
)
|
|
(381
|
)
|
|
(352
|
)
|
|||
Income before income taxes
|
378
|
|
|
380
|
|
|
353
|
|
|||
Income tax benefit
|
(1
|
)
|
|
(3
|
)
|
|
(5
|
)
|
|||
Net income
|
|
$379
|
|
|
|
$383
|
|
|
|
$358
|
|
|
December 31,
|
||||||
|
2015
|
|
2014
|
||||
|
(in millions)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Notes receivable from affiliated companies
|
|
$93
|
|
|
|
$95
|
|
Other
|
9
|
|
|
25
|
|
||
Total current assets
|
102
|
|
|
120
|
|
||
Investments:
|
|
|
|
||||
Investments in consolidated subsidiaries
|
3,999
|
|
|
3,721
|
|
||
Other
|
14
|
|
|
15
|
|
||
Total investments
|
4,013
|
|
|
3,736
|
|
||
Other assets
|
20
|
|
|
10
|
|
||
Total assets
|
|
$4,135
|
|
|
|
$3,866
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$250
|
|
|
|
$—
|
|
Commercial paper
|
140
|
|
|
141
|
|
||
Other
|
12
|
|
|
29
|
|
||
Total current liabilities
|
402
|
|
|
170
|
|
||
Long-term debt, net (excluding current portion)
|
—
|
|
|
250
|
|
||
Other liabilities
|
12
|
|
|
11
|
|
||
Common equity:
|
|
|
|
||||
Common stock and additional paid-in capital
|
1,664
|
|
|
1,510
|
|
||
Retained earnings
|
2,066
|
|
|
1,934
|
|
||
Shares in deferred compensation trust
|
(9
|
)
|
|
(9
|
)
|
||
Total common equity
|
3,721
|
|
|
3,435
|
|
||
Total liabilities and equity
|
|
$4,135
|
|
|
|
$3,866
|
|
|
Year Ended December 31,
|
||||||||||
|
2015
|
|
2014
|
|
2013
|
||||||
|
(in millions)
|
||||||||||
Net cash flows from operating activities
|
|
$262
|
|
|
|
$246
|
|
|
|
$238
|
|
Cash flows used for investing activities:
|
|
|
|
|
|
|
|
|
|||
Capital contributions to consolidated subsidiaries
|
(165
|
)
|
|
(90
|
)
|
|
(120
|
)
|
|||
Capital repayments from consolidated subsidiaries
|
—
|
|
|
50
|
|
|
95
|
|
|||
Net change in notes receivable from affiliates
|
2
|
|
|
(23
|
)
|
|
5
|
|
|||
Other
|
—
|
|
|
—
|
|
|
(2
|
)
|
|||
Net cash flows used for investing activities
|
(163
|
)
|
|
(63
|
)
|
|
(22
|
)
|
|||
Cash flows used for financing activities:
|
|
|
|
|
|
|
|
|
|||
Common stock dividends
|
(247
|
)
|
|
(226
|
)
|
|
(208
|
)
|
|||
Proceeds from issuance of common stock, net
|
151
|
|
|
—
|
|
|
—
|
|
|||
Proceeds from issuance of long-term debt
|
—
|
|
|
250
|
|
|
—
|
|
|||
Payments to retire long-term debt
|
—
|
|
|
(250
|
)
|
|
—
|
|
|||
Net change in commercial paper
|
(1
|
)
|
|
45
|
|
|
(9
|
)
|
|||
Other
|
(2
|
)
|
|
(2
|
)
|
|
1
|
|
|||
Net cash flows used for financing activities
|
(99
|
)
|
|
(183
|
)
|
|
(216
|
)
|
|||
Net decrease in cash and cash equivalents
|
—
|
|
|
—
|
|
|
—
|
|
|||
Cash and cash equivalents at beginning of period
|
—
|
|
|
—
|
|
|
—
|
|
|||
Cash and cash equivalents at end of period
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
Supplemental cash flows information:
|
|
|
|
|
|
|
|
|
|||
Cash paid during the period for:
|
|
|
|
|
|
|
|
|
|||
Interest, net of capitalized interest
|
|
($3
|
)
|
|
|
($11
|
)
|
|
|
($13
|
)
|
Income taxes, net
|
(9
|
)
|
|
(5
|
)
|
|
(7
|
)
|
|
|
|
|
Additions
|
|
|
|
|
Balance,
|
Charged to
|
Charged to Other
|
|
Balance,
|
||
Description
|
January 1
|
Expense
|
Accounts (a)
|
Deductions (b)
|
December 31
|
||
|
(in millions)
|
|
Accumulated Provision for Uncollectible Accounts:
|
|
|
|
|
|||||||||||||
|
|
Alliant Energy (c)
|
|
|
|
|
|
|||||||||||
|
|
|
Year ended December 31, 2015
|
|
$5.1
|
|
|
$8.1
|
|
|
$3.0
|
|
|
$11.4
|
|
|
$4.8
|
|
|
|
|
Year ended December 31, 2014
|
4.8
|
|
11.7
|
|
4.1
|
|
15.5
|
|
5.1
|
|
|||||
|
|
|
Year ended December 31, 2013
|
4.0
|
|
13.6
|
|
0.6
|
|
13.4
|
|
4.8
|
|
|||||
|
|
IPL (c)
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2015
|
|
$0.4
|
|
|
$8.1
|
|
—
|
|
|
$7.9
|
|
|
$0.6
|
|
|
|
|
|
Year ended December 31, 2014
|
0.7
|
|
11.5
|
|
—
|
|
11.8
|
|
0.4
|
|
|||||
|
|
|
Year ended December 31, 2013
|
0.7
|
|
12.7
|
|
—
|
|
12.7
|
|
0.7
|
|
|||||
|
|
WPL
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2015
|
|
$4.2
|
|
|
$—
|
|
|
$3.0
|
|
|
$3.5
|
|
|
$3.7
|
|
|
|
|
Year ended December 31, 2014
|
1.7
|
|
—
|
|
4.1
|
|
1.6
|
|
4.2
|
|
|||||
|
|
|
Year ended December 31, 2013
|
1.8
|
|
—
|
|
0.6
|
|
0.7
|
|
1.7
|
|
|
Accumulated Provision for Other Reserves (d):
|
|||||||||||||||||
|
|
Alliant Energy
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2015
|
|
$32.6
|
|
|
$6.5
|
|
|
$—
|
|
|
$12.0
|
|
|
$27.1
|
|
|
|
|
Year ended December 31, 2014
|
38.2
|
|
12.5
|
|
—
|
|
18.1
|
|
32.6
|
|
|||||
|
|
|
Year ended December 31, 2013
|
33.4
|
|
23.2
|
|
—
|
|
18.4
|
|
38.2
|
|
|||||
|
|
IPL
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2015
|
|
$10.6
|
|
|
$2.1
|
|
|
$—
|
|
|
$3.3
|
|
|
$9.4
|
|
|
|
|
Year ended December 31, 2014
|
18.1
|
|
3.9
|
|
—
|
|
11.4
|
|
10.6
|
|
|||||
|
|
|
Year ended December 31, 2013
|
11.6
|
|
9.3
|
|
—
|
|
2.8
|
|
18.1
|
|
|||||
|
|
WPL
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2015
|
|
$16.3
|
|
|
$0.7
|
|
|
$—
|
|
|
$5.6
|
|
|
$11.4
|
|
|
|
|
Year ended December 31, 2014
|
16.2
|
|
2.5
|
|
—
|
|
2.4
|
|
16.3
|
|
|||||
|
|
|
Year ended December 31, 2013
|
13.5
|
|
8.8
|
|
—
|
|
6.1
|
|
16.2
|
|
(a)
|
Accumulated provision for uncollectible accounts: In accordance with its regulatory treatment, certain amounts provided by WPL are recorded in regulatory assets.
|
(b)
|
Deductions are of the nature for which the reserves were created. In the case of the accumulated provision for uncollectible accounts, deductions from this reserve are reduced by recoveries of amounts previously written off.
|
(c)
|
Refer to
Note 5(b)
for discussion of IPL’s sales of accounts receivable program.
|
(d)
|
Other reserves are largely related to injury and damage claims arising in the ordinary course of business.
|
|
By:
/s/ Patricia L. Kampling
|
|
Patricia L. Kampling
|
|
Chairman, President and Chief Executive Officer
|
/s/
|
Patricia L. Kampling
|
|
Chairman, President, Chief Executive Officer and Director (Principal Executive Officer)
|
|
Patricia L. Kampling
|
|
|
|
|
|
|
/s/
|
Thomas L. Hanson
|
|
Senior Vice President and Chief Financial Officer (Principal Financial Officer)
|
|
Thomas L. Hanson
|
|
|
|
|
|
|
/s/
|
Robert J. Durian
|
|
Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer)
|
|
Robert J. Durian
|
|
|
/s/
|
Patrick E. Allen
|
|
Director
|
|
Patrick E. Allen
|
|
|
|
|
|
|
/s/
|
Michael L. Bennett
|
|
Director
|
|
Michael L. Bennett
|
|
|
|
|
|
|
/s/
|
Deborah B. Dunie
|
|
Director
|
|
Deborah B. Dunie
|
|
|
|
|
|
|
/s/
|
Darryl B. Hazel
|
|
Director
|
|
Darryl B. Hazel
|
|
|
|
|
|
|
/s/
|
Singleton B. McAllister
|
|
Director
|
|
Singleton B. McAllister
|
|
|
|
|
|
|
/s/
|
Thomas F. O’Toole
|
|
Director
|
|
Thomas F. O’Toole
|
|
|
|
|
|
|
/s/
|
Dean C. Oestreich
|
|
Director
|
|
Dean C. Oestreich
|
|
|
|
|
|
|
/s/
|
Carol P. Sanders
|
|
Director
|
|
Carol P. Sanders
|
|
|
|
|
|
|
/s/
|
Susan D. Whiting
|
|
Director
|
|
Susan D. Whiting
|
|
|
|
By:
/s/ Patricia L. Kampling
|
|
Patricia L. Kampling
|
|
Chairman and Chief Executive Officer
|
/s/
|
Patricia L. Kampling
|
|
Chairman, Chief Executive Officer and Director (Principal Executive Officer)
|
|
Patricia L. Kampling
|
|
|
|
|
|
|
/s/
|
Thomas L. Hanson
|
|
Senior Vice President and Chief Financial Officer (Principal Financial Officer)
|
|
Thomas L. Hanson
|
|
|
|
|
|
|
/s/
|
Robert J. Durian
|
|
Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer)
|
|
Robert J. Durian
|
|
|
/s/
|
Patrick E. Allen
|
|
Director
|
|
Patrick E. Allen
|
|
|
|
|
|
|
/s/
|
Michael L. Bennett
|
|
Director
|
|
Michael L. Bennett
|
|
|
|
|
|
|
/s/
|
Deborah B. Dunie
|
|
Director
|
|
Deborah B. Dunie
|
|
|
|
|
|
|
/s/
|
Darryl B. Hazel
|
|
Director
|
|
Darryl B. Hazel
|
|
|
|
|
|
|
/s/
|
Singleton B. McAllister
|
|
Director
|
|
Singleton B. McAllister
|
|
|
|
|
|
|
/s/
|
Thomas F. O’Toole
|
|
Director
|
|
Thomas F. O’Toole
|
|
|
|
|
|
|
/s/
|
Dean C. Oestreich
|
|
Director
|
|
Dean C. Oestreich
|
|
|
|
|
|
|
/s/
|
Carol P. Sanders
|
|
Director
|
|
Carol P. Sanders
|
|
|
|
|
|
|
/s/
|
Susan D. Whiting
|
|
Director
|
|
Susan D. Whiting
|
|
|
|
By:
/s/ Patricia L. Kampling
|
|
Patricia L. Kampling
|
|
Chairman and Chief Executive Officer
|
/s/
|
Patricia L. Kampling
|
|
Chairman, Chief Executive Officer and Director (Principal Executive Officer)
|
|
Patricia L. Kampling
|
|
|
|
|
|
|
/s/
|
Thomas L. Hanson
|
|
Senior Vice President and Chief Financial Officer (Principal Financial Officer)
|
|
Thomas L. Hanson
|
|
|
|
|
|
|
/s/
|
Robert J. Durian
|
|
Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer)
|
|
Robert J. Durian
|
|
|
/s/
|
Patrick E. Allen
|
|
Director
|
|
Patrick E. Allen
|
|
|
|
|
|
|
/s/
|
Michael L. Bennett
|
|
Director
|
|
Michael L. Bennett
|
|
|
|
|
|
|
/s/
|
Deborah B. Dunie
|
|
Director
|
|
Deborah B. Dunie
|
|
|
|
|
|
|
/s/
|
Darryl B. Hazel
|
|
Director
|
|
Darryl B. Hazel
|
|
|
|
|
|
|
/s/
|
Singleton B. McAllister
|
|
Director
|
|
Singleton B. McAllister
|
|
|
|
|
|
|
/s/
|
Thomas F. O’Toole
|
|
Director
|
|
Thomas F. O’Toole
|
|
|
|
|
|
|
/s/
|
Dean C. Oestreich
|
|
Director
|
|
Dean C. Oestreich
|
|
|
|
|
|
|
/s/
|
Carol P. Sanders
|
|
Director
|
|
Carol P. Sanders
|
|
|
|
|
|
|
/s/
|
Susan D. Whiting
|
|
Director
|
|
Susan D. Whiting
|
|
|
Exhibit Number
|
|
Description
|
1.1
|
|
Distribution Agreement, dated March 4, 2015, among Alliant Energy; J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated; and Goldman, Sachs & Co. (incorporated by reference to Exhibit 1.1 to Alliant Energy’s Form 8-K, filed March 4, 2015 (File No. 1-9894))
|
3.1
|
|
Restated Articles of Incorporation of Alliant Energy, as amended (incorporated by reference to Exhibit 4.1 to Alliant Energy’s Registration Statement on Form S-8 (Reg. No. 333-117654))
|
3.2
|
|
Amended and Restated Bylaws of Alliant Energy, effective May 7, 2015 (incorporated by reference to Exhibit 3.1 to Alliant Energy’s Form 8-K, filed May 13, 2015 (File No. 1-9894))
|
3.3
|
|
Amended and Restated Articles of Incorporation of WPL, effective May 9, 2013 (incorporated by reference to Exhibit 3.4 to WPL’s Form 8-K, filed May 13, 2013 (File No. 0-337))
|
3.4
|
|
Amended and Restated Bylaws of WPL, effective May 7, 2015 (incorporated by reference to Exhibit 3.3 to WPL’s Form 8-K, filed May 13, 2015 (File No. 0-337))
|
3.5
|
|
Amended and Restated Articles of Incorporation of IPL, effective May 10, 2013 (incorporated by reference to Exhibit 3.2 to IPL’s Form 8-K, filed May 13, 2013 (File No. 1-4117))
|
3.6
|
|
Amended and Restated Bylaws of IPL, effective May 7, 2015 (incorporated by reference to Exhibit 3.2 to IPL’s Form 8-K, filed May 13, 2015 (File No. 1-4117))
|
4.1
|
|
Third Amended and Restated Five Year Credit Agreement, dated December 14, 2011, among Alliant Energy and the Banks set forth therein (incorporated by reference to Exhibit 99.1 to Alliant Energy’s Form 8-K, filed December 19, 2011 (File No. 1-9894))
|
4.2
|
|
Senior Note Indenture, dated as of September 30, 2009, between Alliant Energy and Wells Fargo Bank, N.A. (incorporated by reference to Exhibit 4.28 to Alliant Energy’s Registration Statement on Form S-3 (Reg. No. 333-162214))
|
4.3
|
|
Amended and Restated Rights Agreement, dated as of December 11, 2008, between Alliant Energy and Wells Fargo Bank, N.A. (incorporated by reference to Exhibit 4.1 to Alliant Energy’s Registration Statement on Form 8-A/A, filed December 12, 2008 (File No. 1-9894))
|
4.4
|
|
Third Amended and Restated Five Year Credit Agreement, dated December 14, 2011, among WPL and the Banks set forth therein (incorporated by reference to Exhibit 99.3 to WPL’s Form 8-K, filed December 19, 2011 (File No. 0-337))
|
4.5
|
|
Indenture, dated as of June 20, 1997, between WPL and Wells Fargo Bank, N.A., Successor, as Trustee (incorporated by reference to Exhibit 4.33 to Amendment No. 2 to WPL’s Registration Statement on Form S-3 (Reg. No. 033-60917))
|
4.6
|
|
Officers’ Certificate, dated as of July 28, 2004, creating WPL’s 6.25% Debentures due July 31, 2034 (incorporated by reference to Exhibit 4.1 to WPL’s Form 8-K, filed August 2, 2004 (File No. 0-337))
|
4.7
|
|
Officers’ Certificate, dated as of August 8, 2007, creating WPL’s 6.375% Debentures due August 15, 2037 (incorporated by reference to Exhibit 4.1 to WPL’s Form 8-K, filed August 9, 2007 (File No. 0-337))
|
4.8
|
|
Officer’s Certificate, dated as of October 1, 2008, creating WPL’s 7.60% Debentures due October 1, 2038 (incorporated by reference to Exhibit 4.2 to WPL’s Form 8-K, filed October 2, 2008 (File No. 0-337))
|
4.9
|
|
Officers’ Certificate, dated as of July 7, 2009, creating WPL’s 5.00% Debentures due July 15, 2019 (incorporated by reference to Exhibit 4.2 to WPL’s Form 8-K, filed July 8, 2009 (File No. 0-337))
|
4.10
|
|
Officers’ Certificate, dated as of June 10, 2010, creating WPL’s 4.60% Debentures due June 15, 2020 (incorporated by reference to Exhibit 4.2 to WPL’s Form 8-K, filed June 11, 2010 (File No. 0-337))
|
4.11
|
|
Officers’ Certificate, dated as of November 19, 2012, creating WPL’s 2.25% Debentures due November 15, 2022 (incorporated by reference to Exhibit 4.1 to WPL’s Form 8-K, filed November 19, 2012 (File No. 0-337))
|
4.12
|
|
Officers’ Certificate, dated as of October 14, 2014, creating WPL’s 4.10% Debentures due October 15, 2044 (incorporated by reference to Exhibit 4.1 to WPL’s Form 8-K, filed October 14, 2014 (File No. 0-337))
|
4.13
|
|
Third Amended and Restated Five Year Credit Agreement, dated December 14, 2011, among IPL and the Banks set forth therein (incorporated by reference to Exhibit 99.2 to IPL’s Form 8-K, filed December 19, 2011 (File No. 1-4117))
|
4.14
|
|
Indenture (For Senior Unsecured Debt Securities), dated as of August 20, 2003, between IPL and The Bank of New York Mellon Trust Co., N.A. (f/k/a The Bank of New York Trust Co., N.A.), as Trustee (incorporated by reference to Exhibit 4.11 to IPL’s Registration Statement on Form S-3 (Reg. No. 333-108199))
|
4.15
|
|
Officer’s Certificate, dated as of September 10, 2003, creating IPL’s 5.875% Senior Debentures due September 15, 2018 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed September 11, 2003 (File No. 1-4117))
|
4.16
|
|
Officer’s Certificate, dated as of October 14, 2003, creating IPL’s 6.45% Senior Debentures due October 15, 2033 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed October 15, 2003 (File No. 1-4117))
|
4.17
|
|
Officer’s Certificate, dated as of May 3, 2004, creating IPL’s 6.30% Senior Debentures due May 1, 2034 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed May 5, 2004 (File No. 1-4117))
|
4.17a
|
|
Officer’s Certificate, dated as of August 2, 2004, reopening IPL’s 6.30% Senior Debentures due May 1, 2034 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed August 5, 2004 (File No. 1-4117))
|
4.18
|
|
Officer’s Certificate, dated as of July 18, 2005, creating IPL’s 5.50% Senior Debentures due July 15, 2025 (incorporated by reference to Exhibit 4 to IPL’s Form 8-K, filed July 19, 2005 (File No. 1-4117))
|
4.19
|
|
Officer’s Certificate, dated as of October 1, 2008, creating IPL’s 7.25% Senior Debentures due October 1, 2018 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed October 2, 2008 (File No. 1-4117))
|
4.20
|
|
Officer’s Certificate, dated as of July 7, 2009, creating IPL’s 6.25% Senior Debentures due July 15, 2039 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed July 8, 2009 (File No. 1-4117))
|
4.21
|
|
Officer’s Certificate, dated as of August 23, 2010, creating IPL’s 3.65% Senior Debentures due September 1, 2020 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed August 24, 2010 (File No. 1-4117))
|
4.22
|
|
Officer’s Certificate, dated as of October 8, 2013, creating IPL’s 4.70% Senior Debentures due October 15, 2043 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed October 8, 2013 (File No. 1-4117))
|
4.23
|
|
Officer’s Certificate, dated as of November 24, 2014, creating IPL’s 3.25% Senior Debentures due December 1, 2024 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed November 24, 2014 (File No. 1-4117))
|
4.24
|
|
Officer’s Certificate, dated as of August 18, 2015, creating IPL’s 3.40% Senior Debentures due August 15, 2025 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed August 18, 2015 (File No. 1-4117))
|
4.25
|
|
Form of Preferred Stock Certificate of IPL (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed March 20, 2013 (File No. 1-4117))
|
10.1
|
|
Operating Agreement of ATC, dated as of January 1, 2001 (incorporated by reference to Exhibit 10.16 to WPL’s Form 10-K for the year 2000 (File No. 0-337))
|
10.2
|
|
Term Loan Credit Agreement, dated as of October 7, 2014, between Alliant Energy, Wells Fargo Bank, N.A. and the lender parties set forth therein (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed October 14, 2014 (File No. 1-9894))
|
10.3#
|
|
OIP (incorporated by reference to Appendix A to Alliant Energy’s definitive proxy statement filed on Schedule 14A on April 1, 2010 (File No. 1-9894))
|
10.3a#
|
|
Amendment to the OIP (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.3b#
|
|
Form of Performance Share Agreement pursuant to the OIP, amended in 2012 (incorporated by reference to Exhibit 10.4c to Alliant Energy’s Form 10-K for the year 2011 (File No. 1-9894))
|
10.3c#
|
|
Form of Performance Share Agreement amended in 2015, pursuant to the OIP, amended in 2012 (incorporated by reference to Exhibit 10.3c to Alliant Energy’s Form 10-K for the year 2014 (File No. 1-9894))
|
10.3d#
|
|
Form of Performance Contingent Restricted Stock Agreement pursuant to the OIP, amended in 2012 (incorporated by reference to Exhibit 10.4e to Alliant Energy’s Form 10-K for the year 2011 (File No. 1-9894))
|
10.3e#
|
|
Form of Performance Contingent Restricted Stock Agreement amended in 2015, pursuant to the OIP, amended in 2012 (incorporated by reference to Exhibit 10.3e to Alliant Energy’s Form 10-K for the year 2014 (File No. 1-9894))
|
10.4#
|
|
Amended and Restated OIP, amended in 2015 (incorporated by reference to Appendix A to Alliant Energy’s definitive proxy statement filed on Schedule 14A on March 24, 2015 (File No. 1-9894))
|
10.4a#
|
|
Form of Performance Share Agreement pursuant to the Amended and Restated OIP, amended in 2015
|
10.4b#
|
|
Form of Restricted Stock Unit Agreement pursuant to the Amended and Restated OIP, amended in 2015
|
10.4c#
|
|
Form of Performance Restricted Stock Unit Agreement pursuant to the Amended and Restated OIP, amended in 2015
|
10.5#
|
|
DLIP, for director-level employees, amended in 2012 (incorporated by reference to Exhibit 10.5c to Alliant Energy’s Form 10-K for the year 2011 (File No. 1-9894))
|
10.5a#
|
|
Form of Performance Restricted Award Agreement pursuant to the DLIP, amended in 2012 (incorporated by reference to Exhibit 10.5e to Alliant Energy’s Form 10-K for the year 2011 (File No. 1-9894))
|
10.6#
|
|
DCP, as amended and restated effective January 1, 2011 (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed December 14, 2010 (File No. 1-9894))
|
10.6a#
|
|
Amendment to the DCP, as amended and restated (incorporated by reference to Exhibit 10.2 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.7#
|
|
IES Industries Inc. Amended and Restated Key Employee Deferred Compensation Agreement, as amended
|
10.8#
|
|
Alliant Energy Rabbi Trust Agreement for DCPs (incorporated by reference to Exhibit 10.19 to Alliant Energy’s Form 10-K for the year 2005 (File No. 1-9894))
|
10.8a#
|
|
Amendment to the Alliant Energy Rabbi Trust Agreement for DCPs (incorporated by reference to Exhibit 10.2 to Alliant Energy’s Form 10-Q for the quarter ended June 30, 2015 (File No. 1-9894))
|
10.8b#
|
|
Second Amendment to the Alliant Energy Rabbi Trust Agreement for DCPs (incorporated by reference to Exhibit 10.3 to Alliant Energy’s Form 10-Q for the quarter ended June 30, 2015 (File No. 1-9894))
|
10.9#
|
|
Alliant Energy Excess Retirement Plan (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 10-Q for the quarter ended September 30, 2008 (File No. 1-9894))
|
10.9a#
|
|
Amendment to the Alliant Energy Excess Retirement Plan (incorporated by reference to Exhibit 10.4 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.10#
|
|
Form of SRP Agreement by and between Alliant Energy and each of T.L. Hanson, P.L. Kampling and J.O. Larsen (incorporated by reference to Exhibit 10.3 to Alliant Energy’s Form 8-K, filed December 12, 2008 (File No. 1-9894))
|
10.11#
|
|
Alliant Energy Defined Contribution SRP (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 10-Q for the quarter ended September 30, 2010 (File No. 1-9894))
|
10.11a#
|
|
Amendment to the Alliant Energy Defined Contribution SRP (incorporated by reference to Exhibit 10.3 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.11b#
|
|
Amendment to the Alliant Energy Defined Contribution SRP (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed March 12, 2014 (File No. 1-9894))
|
10.12#
|
|
Form of KEESA, by and between Alliant Energy and P.L. Kampling (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed October 29, 2010 (File No. 1-9894))
|
10.13#
|
|
Form of KEESA, by and between Alliant Energy and each of J.H. Gallegos, T.L. Hanson, D.R. Kopp, J.O. Larsen, W.A. Reschke and R.J. Durian (incorporated by reference to Exhibit 10.3 to Alliant Energy’s Form 10-Q for the quarter ended June 30, 2008 (File No. 1-9894))
|
10.13a#
|
|
Form of Amendment to KEESA, by and between Alliant Energy and each of J.H. Gallegos, T.L. Hanson, D.R. Kopp, J.O. Larsen, W.A. Reschke and R.J. Durian (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 10-Q for the quarter ended September 30, 2015 (File No. 1-9894))
|
10.14#
|
|
Form of Amendment Number One to KEESA, by and between Alliant Energy and each of P.L. Kampling, J.H. Gallegos, T.L. Hanson, D.R. Kopp, J.O. Larsen, W.A. Reschke and R.J. Durian (incorporated by reference to Exhibit 10.6 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.15#
|
|
Executive Severance Benefit under the Alliant Energy Severance Plan Summary Plan Description, effective March 19, 2008 (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed March 24, 2008 (File No. 1-9894))
|
10.15a#
|
|
Amendment to the Executive Severance Benefit under the Alliant Energy Severance Plan Summary Plan Description (incorporated by reference to Exhibit 10.5 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.16#
|
|
Executive Employee Reimbursement Agreement, by and between Alliant Energy and R.J. Durian (incorporated by reference to Exhibit 10.13 to Alliant Energy’s Form 10-K for the year 2013 (File No. 1-9894))
|
10.17#
|
|
Terms of Alliant Energy Management Performance Pay Plan (incorporated by reference to Exhibit 10.16 to Alliant Energy’s Form 10-K for the year 2014 (File No. 1-9894))
|
10.18#
|
|
Terms of Alliant Energy Executive Performance Pay Plan
|
10.19#
|
|
Summary of Compensation and Benefits for Non-Employee Directors of Alliant Energy, IPL and WPL, effective January 1, 2016
|
12.1
|
|
Ratio of Earnings to Fixed Charges for Alliant Energy
|
12.2
|
|
Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements for IPL
|
12.3
|
|
Ratio of Earnings to Fixed Charges for WPL
|
18.1
|
|
Letter re change in accounting principles for IPL
|
18.2
|
|
Letter re change in accounting principles for WPL
|
21.1
|
|
Subsidiaries of Alliant Energy
|
21.2
|
|
Subsidiaries of WPL
|
23.1
|
|
Consent of Independent Registered Public Accounting Firm for Alliant Energy
|
23.2
|
|
Consent of Independent Registered Public Accounting Firm for IPL
|
23.3
|
|
Consent of Independent Registered Public Accounting Firm for WPL
|
31.1
|
|
Certification of the Chairman, President and CEO for Alliant Energy
|
31.2
|
|
Certification of the Senior VP and CFO for Alliant Energy
|
31.3
|
|
Certification of the Chairman and CEO for IPL
|
31.4
|
|
Certification of the Senior VP and CFO for IPL
|
31.5
|
|
Certification of the Chairman and CEO for WPL
|
31.6
|
|
Certification of the Senior VP and CFO for WPL
|
32.1
|
|
Written Statement of the CEO and CFO Pursuant to 18 U.S.C.§1350 for Alliant Energy
|
32.2
|
|
Written Statement of the CEO and CFO Pursuant to 18 U.S.C.§1350 for IPL
|
32.3
|
|
Written Statement of the CEO and CFO Pursuant to 18 U.S.C.§1350 for WPL
|
101.INS*
|
|
XBRL Instance Document
|
101.SCH*
|
|
XBRL Taxonomy Extension Schema Document
|
101.CAL*
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.LAB*
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.PRE*
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
101.DEF*
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
1.
|
Award
. Subject to the terms of this Agreement and the Plan, the Employee is hereby granted
[Insert Number]
target Performance Shares on the Grant Date. Performance Shares granted under this Agreement are units that will be reflected in a book account maintained by the Company during the Performance Period set forth below, and that will be settled in cash and/or Shares to the extent provided in this Agreement and the Plan.
|
2.
|
Performance Period
. The “
Performance Period
” is the period beginning on ____________________, 20_____ and ending on ____________________, 20_____.
|
3.
|
Settlement of Awards
. Subject to Section 9 below, the Company shall deliver to the Employee one Share (or cash equal to the Fair Market Value of one Share) for each Performance Share earned by the Employee, as determined in accordance with the provisions of
Exhibit 1
, which is attached to and forms a part of this Agreement. The earned Performance Shares payable to the Employee in accordance with the provisions of this Section 3 shall be paid solely in Shares, solely in cash based on the Fair Market Value of the Shares (determined based on the per Share closing price on the first business day next following the last day of the Performance Period, as reported on the New York Stock Exchange), or in a combination of the two, as determined by the Committee in its sole discretion, except that cash shall be distributed in lieu of any fractional Share.
|
4.
|
Time of Payment
. Except as otherwise provided in this Agreement (including Section 9 below), payment of Performance Shares earned in accordance with the provisions of Section 3 will be delivered as soon as practicable (but in any event within 75 days) following the last day of the Performance Period set forth in Section 2, subject to the Committee certifying in writing as to the satisfaction of the requisite Performance Goal or Goals.
|
5.
|
Retirement, Disability, or Death During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control because of the Employee’s Retirement (as defined below), Disability, or death, the Employee shall be entitled
|
6.
|
Involuntary Termination Without Cause During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control because of an Involuntary Termination without Cause (as defined below), the Employee shall be entitled to the prorated value of the Award earned, determined at the end of the Performance Period and only if and to the extent the Performance Goals are met, based on a fraction, the numerator of which is the number of months the Employee was employed during the Performance Period and the denominator of which is 36.
|
7.
|
Other Terminations of Employment During Performance Period
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period for any reason and prior to a Change in Control for any reason other than the Employee’s Retirement, Disability, Involuntary Termination without Cause, or death, the Performance Shares granted under this Agreement automatically will terminate and be cancelled on the date of such termination of employment.
|
8.
|
Dividend Equivalents
.
|
(a)
|
After the Performance Period has ended (or, if a Change in Control occurs during the Performance Period, the effective date of the Change in Control), dividend equivalents (“
Dividend Equivalents
”) will be calculated and credited to the account of the Employee with respect to the percentage of Performance Shares that are earned. Dividend Equivalents will be credited as additional Performance Shares, the number of which will be equal to the number of whole Shares that could be purchased with the amount of the Dividend Equivalents, based on the Fair Market Value of the Shares as of the dividend payment date and the number of earned Performance Shares (as determined in accordance with Section 3 or Section 9(a)(i), as applicable).
|
(b)
|
Any Dividend Equivalents credited to the Employee’s account pursuant to this Section 8 shall not be vested or paid until the dates of vesting or payment of the Performance Shares with respect to which such Dividend Equivalents are credited, and such Dividend Equivalents shall be subject to the same restrictions and other terms and conditions as apply to the Performance Shares with respect to which they were credited.
|
(c)
|
No Dividend Equivalents shall be credited to the Employee with respect to record dates occurring prior to the Grant Date or with respect to record dates occurring on or after the date, if any, on which the Performance Shares are cancelled and terminated.
|
9.
|
Change in Control
.
|
(a)
|
No Termination of Employment Prior to a Change in Control
.
|
(i)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, if a Change in Control occurs during the Performance Period and the Employee’s employment does not terminate before the effectiveness of the Change in Control, then the Employee shall be entitled to the earned Performance Shares (as determined in accordance with this Section 9(a)(i)), which automatically will convert into a contractual right to receive a cash payment (the “
Cash Payment Right
”) in an amount equal to (i) the number of earned Performance Shares (including any additional Performance Shares determined in accordance with Section 8(a)), multiplied by (ii) the per Share Fair Market Value as of the trading day immediately preceding the effective date of the Change in Control. For purposes of this Section 9, the “earned Performance Shares” means the number of Performance Shares that would have been earned by the Employee in accordance with
Exhibit 1
assuming that the day immediately preceding the effective date of the Change in Control is the last day of the Performance Period. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to the Cash Payment Right. Any portion of the Performance Shares that is not converted into the Cash Payment Right automatically shall terminate and be cancelled immediately prior to the effectiveness of the Change in Control, without the payment of any consideration therefor.
|
(ii)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, the Cash Payment Right shall be paid as soon as practicable (but in any event within 75 days) after the last day of the Performance Period set forth in Section 2, provided that the Employee remains continuously employed by the Company or an Affiliate or any successor thereto through the last day of such Performance Period. Notwithstanding the immediately preceding sentence, in the event that the Employee experiences a termination of employment due to the Employee’s Retirement, Disability, or death or an involuntary termination of employment by action of the Company
(or its successor)
(other than a termination due to Cause) or due to the Employee’s resignation for Good Reason prior to the last day of the Performance Period set forth in Section 2, the Cash Payment Right will be paid in accordance with the first sentence of this Section 9(a)(ii) as though the Employee remained continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Performance Period.
|
(b)
|
Certain Terminations of Employment Prior to a Change in Control
. Solely for purposes of Sections 5 and 6 of the Agreement, if the Employee’s employment terminates for any of the reasons set forth in such Sections 5 and 6 prior to a Change in Control and a Change in Control occurs during the Performance Period, then the Employee shall be entitled to the earned Performance Shares determined in accordance with Section 9(a)(i) in lieu of any amount set forth in Section 5 or Section 6, as applicable, which Performance Shares automatically shall convert into a contractual right to receive the Cash Payment Right. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to the Cash Payment Right. For the avoidance of doubt, the Cash Payment Right will be paid at such time provided under Section 4.
|
10.
|
Definitions
.
|
(a)
|
“
Involuntary Termination without Cause
” shall mean that the Employee experiences a termination of employment due to the Employee’s (i) receipt of a written notification that his or her position is being eliminated as a result of a structured job elimination program or (ii) resignation for a Pre-Change in Control Good Reason.
|
(b)
|
“
Pre-Change in Control Good Reason
” shall mean that an applicable event occurs and the Employee provides notice to the Company of the existence of the event within 90 days of the initial existence of the event, the Company fails to cure the event within 30 days of such notice and the Employee resigns within 30 days following the last day of such 30-day cure period. The applicable events are any one or more of the following: (i) a material diminution in the Employee’s base compensation and (ii) a material diminution in the Employee’s authority, duties, or responsibilities.
|
(c)
|
“
Retirement
” shall mean the Employee’s employment terminates (with the consent of the Company) after he or she has reached age 55 and the Employee’s age, in whole years, added to the number of whole years of the Employee’s continuous employment with the Company total 65 or more.
|
11.
|
Nontransferability of Performance Shares
. The Performance Shares shall not be assignable, alienable, saleable or transferable by the Employee other than by will or the laws of descent and distribution prior to settlement of the Awards pursuant to Section 3 (or, if applicable, Section 9);
provided
,
however
, that the Employee shall be entitled, in the manner provided in Section 13 hereof, to designate a beneficiary to receive any Shares or cash issuable with respect to the Award upon the death of the Employee.
|
12.
|
Tax Withholding
. The Company may deduct and withhold from any cash otherwise payable to the Employee such amount as may be required for the purpose of satisfying the Company’s obligation to withhold federal, state or local taxes. Further, in the event the amount so withheld is insufficient for such purpose, the Company may require that the Employee pay to the Company upon its demand or otherwise make arrangements satisfactory to the Company for payment of, such amount as may be requested by the Company in order to satisfy its obligation to withhold any such taxes.
|
13.
|
Designation of Beneficiary
. The Employee shall be permitted to designate one or more beneficiaries (each, a “
Beneficiary
”) on a Company-approved form who shall be entitled to payouts hereunder, to the extent payouts are made, after the death of the Employee. The terms and conditions of any such designation (including any changes thereto by the Employee) shall be subject to the terms and conditions of such Company-approved beneficiary designation form. If no such beneficiary designation is in effect at the time of the Employee’s death, or if no designated Beneficiary survives the Employee or if such designation conflicts with law, the Employee’s estate acting through his or her legal representative shall be entitled to receive payouts hereunder, to the extent they are made, after the death of the Employee. If the Committee is in doubt as to the right of any person to the Performance Shares or any payout thereunder, the Company may refuse to settle such matter, without liability for any interest or dividends on the Performance Shares, until the Committee determines the person entitled to the Performance Shares or any payout thereunder, or the Company may apply to any court of appropriate jurisdiction and such application shall be a complete discharge of the liability of the Company therefor.
|
14.
|
Transfer Restriction
. Any Shares delivered pursuant to Section 3 hereof shall thereafter be freely transferable by the Employee, provided that the Employee agrees for himself or herself and his or her heirs, legatees and legal representatives, with respect to all Shares acquired pursuant to the terms and conditions of this Agreement (or any Shares issued pursuant to a stock dividend or stock split thereon or any securities issued in lieu thereof or in substitution or exchange therefor), that he or she and his or her heirs, legatees and legal representatives will not sell or otherwise dispose of such shares except pursuant to a registration statement filed by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “
Act
”), or except in a transaction which is determined by counsel to the Company to be exempt from registration under the Act and any applicable state securities laws; and to execute and deliver to the Company such investment representations and warranties, and to take such other actions, as counsel for the Company determines may be necessary or appropriate for compliance with the Act and any other applicable securities laws. The Employee agrees that any certificates representing any of the Shares acquired pursuant to the terms and conditions of this Agreement may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws.
|
15.
|
Status of Employee
. The Employee shall not be deemed for any purposes to be a shareowner of the Company with respect to any of the Performance Shares except to the extent that the Company has delivered Shares pursuant to Section 3 hereof. Therefore, the Employee will not have the right of shareowners to vote or, subject to Section 8, to receive dividends or distributions of any kind prior to the Company delivering Shares pursuant to Section 3 hereof. Neither the Plan nor the Performance Shares shall confer upon the Employee any right to continue as an employee of the Company or any of its Affiliates, nor to interfere in any way with the right of the Company to terminate the employment or directorship of the Employee at any time.
|
16.
|
Powers of the Company Not Affected
. The existence of the Performance Shares shall not affect in any way the right or power of the Company or its shareowners to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds, debentures, preferred or prior preference stock senior to or affecting the Shares or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business or any other corporate act or proceeding, whether of a similar character or otherwise.
|
17.
|
Interpretation by the Committee
. As a condition of the granting of the Performance Shares, the Employee agrees, for himself or herself and for his or her legal representatives or guardians, that this Agreement shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Agreement and any determination made by the Committee pursuant to this Agreement shall be final, binding and conclusive.
|
18.
|
Miscellaneous
.
|
(a)
|
This Agreement shall be governed and construed in accordance with the internal laws of the State of Wisconsin applicable to contracts made and to be performed therein between residents thereof. As a condition of the granting of the Performance Shares, the Employee irrevocably consents to the nonexclusive jurisdiction and venue of the state and federal courts located in the State of Wisconsin.
|
(b)
|
The Plan and this Agreement set forth the entire understanding between the Company and the Employee with respect to the subject matter hereof and shall supersede in all respects, and the Employee hereby waives all rights under, any prior or other agreement or understanding between the parties with respect to such subject matter, including, but not limited to, any Key Executive Employment and Severance Agreement. For the avoidance of doubt, the Plan and this Agreement shall control in the event there is any express conflict between the Plan and this Agreement and any prior or other agreement or understanding between the parties.
|
(c)
|
This Agreement may not be amended or modified except by the written consent of the parties hereto. Notwithstanding the foregoing, the Committee need not obtain Employee (or other interested party) consent for any such action: (i) to the extent the action is deemed necessary by the Committee to comply with any applicable law; (ii) to the extent the action is deemed necessary by the Committee to preserve favorable accounting or tax treatment for the Company of any Award; (iii) to the extent the Committee determines that such action does not materially and adversely affect the value of an Award or that such action is in the best interest of the affected Employee; or (iv) to the extent unilateral action by the Committee is permitted under Section 14(c) of the Plan.
|
(d)
|
The Award and any Shares or cash issued thereunder shall be subject to potential cancellation, rescission, payback, recoupment or other action in accordance with the terms of any Company clawback policy (the “
Clawback Policy
”), as then in effect and as it may be amended from time to time, to the extent the Clawback Policy applies to the Award and any Shares or cash issued thereunder (including a Clawback Policy implemented or amendments made thereto after the Grant Date for the Award). By accepting the Performance Shares, the Employee agrees to execute any additional documents as may be requested by the Company to effect the Company’s application, implementation and adoption of a Clawback Policy with respect to the Award and any Shares or cash issued thereunder.
|
(e)
|
The captions of this Agreement are inserted for convenience of reference only and shall not be taken into account in construing this Agreement.
|
1.
|
Purpose
: The purpose of this Exhibit 1 is to set forth the Performance Goal or Goals that will be applied to determine the amount of the Award to be earned under the terms of the attached Performance Share Agreement (the “
Agreement
”). This Exhibit 1 is incorporated into and forms a part of the Agreement.
|
[Employee]
|
[Year]
|
Grant Date
|
[Month] [Day], [Year]
|
Grant Date Fair Market Value
|
$________________
|
Performance Shares (Target)
|
[Number of Shares]
|
Performance Period
|
__________, 20__ through __________, 20__
|
2.
|
Performance Goals
: The Award will be based on the Company’s Total Shareholder Return (TSR) performance (which represents stock price appreciation plus dividends reinvested) based on the three-year average relative to an investor-owned utility peer group. The peer group is defined as companies that comprise the Edison Electric Institute (EEI) Stock Index.
|
3.
|
Amount of Award
: Actual awards will be based on Company performance as specified above, and can range from 0 to 200 percent of target. The number of Performance Shares earned by the Employee shall be determined in accordance with the following schedule:
|
3-yr Total Shareholder Return - Percentile Relative to Peer Group*
|
% of Target Value
Paid Out
|
__ Percentile or greater
|
__%
|
__ Percentile
|
__%
|
__ Percentile
|
__%
|
__ Percentile
|
__%
|
__ Percentile
|
__%
|
__ Percentile
|
__%
|
__ Percentile
|
__%
|
Below __ Percentile
|
__%
|
1.
|
Award
. Subject to the terms of this Agreement and the Plan, the Employee is hereby granted
[Insert Number]
RSUs on the Grant Date with a vesting commencement date of _______ 1, ____ (the “
Vesting Commencement Date
”). RSUs granted under this Agreement are units that will be reflected in a book account maintained by the Company during the Term set forth below, and that will be settled in cash and/or Shares to the extent provided in this Agreement and the Plan.
|
2.
|
Term; Vesting Schedule
.
|
(a)
|
The “
Term
” is the period beginning on the Vesting Commencement Date and ending on ________ __, 20_____.
|
(b)
|
Except as otherwise provided in this Agreement (including Section 9 below), each RSU will become earned and vested (each a “
Vested RSU
” and, collectively, “
Vested RSUs
”) on the last day of the Term set forth in Section 2(a), if the Employee is continuously employed with the Company or any of its Affiliates through the last day of the Term.
|
3.
|
Settlement of Awards
. Subject to Section 9 below, the Company shall deliver to the Employee one Share (or cash equal to the Fair Market Value of one Share) for each Vested RSU, except that cash shall be distributed in lieu of any fractional Share. The Vested RSUs payable to the Employee in accordance with the provisions of this Section 3 shall be paid solely in Shares, solely in cash based on the Fair Market Value of the Shares (determined based on the per Share closing price on the last day of the Term, as reported on the New York Stock Exchange (or if not trading on that date, the per Share closing price on the last preceding date on which the Shares were traded)), or in a combination of the two, as determined by the Committee in its sole discretion, except that cash shall be distributed in lieu of any fractional Share.
|
4.
|
Time of Payment
. Except as otherwise provided in this Agreement (including Section 9 below), payment of Vested RSUs will be delivered as soon as practicable (but in any event within 75 days) following the last day of the Term set forth in Section 2(a).
|
5.
|
Retirement, Disability, or Death During the Term and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Term and prior to a Change in Control because of the Employee’s Retirement (as defined below), Disability, or death, the full number of RSUs shall be treated as Vested RSUs, so long as the termination event occurs on or after the first anniversary of the Vesting Commencement Date. If the employment termination event occurs prior to the first anniversary of the Vesting Commencement Date, a pro-rated number of RSUs shall be treated as Vested RSUs, based on a fraction, the numerator of which is the number of months the Employee was employed during the Term and the denominator of which is 12. Any RSUs that do not become Vested RSUs automatically will terminate and be cancelled, without the payment of any consideration, on the date the Employee’s employment with the Company and its Affiliates terminates.
|
6.
|
Involuntary Termination Without Cause During the Term and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates after the first anniversary of the Grant Date and prior to a Change in Control because of an Involuntary Termination without Cause (as defined below), a pro-rated number of RSUs shall be treated as Vested RSUs, based on a fraction, the numerator of which is the number of months the Employee was employed following the Grant Date and the denominator of which is 36. Any RSUs that do not become Vested RSUs automatically will terminate and be cancelled, without the payment of any consideration, on the date the Employee’s employment with the Company and its Affiliates terminates.
|
7.
|
Other Terminations of Employment During Term and Prior to Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Term and prior to a Change in Control for any reason other than the Employee’s Retirement, Disability, Involuntary Termination without Cause, or death, the RSUs granted under this Agreement automatically will terminate and be cancelled on the date of such termination of employment without the payment of any consideration.
|
8.
|
Dividend Equivalents
.
|
(a)
|
After the Term has ended (or, if a Change in Control occurs prior to the end of the Term, the effective date of the Change in Control), dividend equivalents (“
Dividend Equivalents
”) will be calculated and credited to the account of the Employee with respect to the number of Vested RSUs. Dividend Equivalents will be credited as additional RSUs, the number of which will be equal to the number of whole Shares that could be purchased with the amount of the Dividend Equivalents, based on the Fair Market Value of the Shares as of the dividend payment date and the number of Vested RSUs.
|
(b)
|
Any Dividend Equivalents credited to the Employee’s account pursuant to this Section 8 shall not be vested or paid until the dates of vesting or payment of the RSUs with respect to which such Dividend Equivalents are credited, and such Dividend Equivalents shall be subject to the same restrictions and other terms and conditions as apply to the RSUs with respect to which they were credited.
|
(c)
|
No Dividend Equivalents shall be credited to the Employee with respect to record dates occurring prior to the Grant Date or with respect to record dates occurring on or after the date, if any, on which the RSUs are cancelled and terminated.
|
9.
|
Change in Control
.
|
(a)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, if a Change in Control occurs during the Term and the Employee’s employment does not terminate before the effectiveness of the Change in Control, then the RSUs automatically will vest and convert into a contractual right to receive a cash payment (the “
Cash Payment Right
”) in an amount equal to (i) the full number of RSUs (including any additional RSUs determined in accordance with Section 8(a)), multiplied by (ii) the per Share Fair Market Value as of the trading day immediately preceding the effective date of the Change in Control. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to a Cash Payment Right.
|
(b)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, the Cash Payment Right shall be paid as soon as practicable (but in any event within 75 days) after the last day of the Term set forth in Section 2(a), provided that the Employee remains continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Term. Notwithstanding the immediately preceding sentence, in the event that the Employee experiences a termination of employment due to the Employee’s Retirement (as defined below), Disability, or death or an involuntary termination of employment by action of the Company (or its successor) (other than a termination due to Cause) or due to the Employee’s resignation for Good Reason prior to the last day of the Term set forth in Section 2(a), the Cash Payment Right will be paid in accordance with the first sentence of this Section 9(b) as though the Employee remained continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Term.
|
10.
|
Definitions
.
|
(a)
|
“
Involuntary Termination without Cause
” shall mean that the Employee experiences a termination of employment due to the Employee’s (i) receipt of a written notification that his or her position is being eliminated as a result of a structured job elimination program or (ii) resignation for a Pre-Change in Control Good Reason.
|
(b)
|
“
Pre-Change in Control Good Reason
” shall mean that an applicable event occurs and the Employee provides notice to the Company of the existence of the event within 90 days of the initial existence of the event, the Company fails to cure the event within 30 days of such notice and the Employee resigns within 30 days following the last day of such 30-day cure period. The applicable events are any one or more of the following: (i) a material diminution in the Employee’s base compensation and (ii) a material diminution in the Employee’s authority, duties, or responsibilities.
|
(c)
|
“
Retirement
” shall mean the Employee’s employment terminates (with the consent of the Company) after he or she has reached age 55 and the Employee’s age, in whole years, added to the number of whole years of the Employee’s continuous employment with the Company total 65 or more.
|
11.
|
Nontransferability of RSUs
. The RSUs shall not be assignable, alienable, saleable or transferable by the Employee other than by will or the laws of descent and distribution prior to settlement of the Awards pursuant to Section 3 (or, if applicable, Section 9);
provided
,
however
, that the Employee shall be entitled, in the manner provided in Section 13 hereof, to designate a beneficiary to receive any Shares or cash issuable with respect to the Award upon the death of the Employee.
|
12.
|
Tax Withholding
. The Company may deduct and withhold from any cash otherwise payable to the Employee such amount as may be required for the purpose of satisfying the Company’s obligation to withhold federal, state or local taxes. Further, in the event the amount so withheld is insufficient for such purpose, the Company may require that the Employee pay to the Company upon its demand or otherwise make arrangements satisfactory to the Company for payment of, such amount as may be requested by the Company in order to satisfy its obligation to withhold any such taxes.
|
13.
|
Designation of Beneficiary
. The Employee shall be permitted to designate one or more beneficiaries (each, a “
Beneficiary
”) on a Company-approved form who shall be entitled to payouts hereunder, to the extent payouts are made, after the death of the Employee. The terms and conditions of any such designation (including any changes thereto by the Employee) shall be subject to the terms and conditions of such Company-approved beneficiary designation form. If no such beneficiary designation is in effect at the time of the Employee’s death, or if no designated Beneficiary survives the Employee or if such designation conflicts with law, the Employee’s estate acting through his or her legal representative shall be entitled to receive payouts hereunder, to the extent they are made, after the death of the Employee. If the Committee is in doubt as to the right of any person to the RSUs or any payout thereunder, the Company may refuse to settle such matter, without liability for any interest or dividends on the RSUs, until the Committee determines the person entitled to the RSUs or any payout thereunder, or the Company may apply to any court of appropriate jurisdiction and such application shall be a complete discharge of the liability of the Company therefor.
|
14.
|
Transfer Restriction
. Any Shares delivered pursuant to Section 3 hereof shall thereafter be freely transferable by the Employee, provided that the Employee agrees for himself or herself and his or her heirs, legatees and legal representatives, with respect to all Shares acquired pursuant to the terms and conditions of this Agreement (or any Shares issued pursuant to a stock dividend or stock split thereon or any securities issued in lieu thereof or in substitution or exchange therefor), that he or she and his or her heirs, legatees and legal representatives will not sell or otherwise dispose of such shares except pursuant to a registration statement filed by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “
Act
”), or except in a transaction which is determined by counsel to the Company to be exempt from registration under the Act and any applicable state securities laws; and to execute and deliver to the Company such investment representations and warranties, and to take such other actions, as counsel for the Company determines may be necessary or appropriate for compliance with the Act and any other applicable securities laws. The Employee agrees that any certificates representing any of the Shares acquired pursuant to the terms and conditions of this Agreement may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws.
|
15.
|
Status of Employee
. The Employee shall not be deemed for any purposes to be a shareowner of the Company with respect to any of the RSUs except to the extent that the Company has delivered Shares pursuant to Section 3 hereof. Therefore, the Employee will not have the right of shareowners to vote or, subject to Section 8, to receive dividends or distributions of any kind prior to the Company delivering Shares pursuant to Section 3 hereof. Neither the Plan nor the RSUs shall confer upon the Employee any right to continue as an employee of the Company or any of its Affiliates, nor to interfere in any way with the right of the Company to terminate the employment or directorship of the Employee at any time.
|
16.
|
Powers of the Company Not Affected
. The existence of the RSUs shall not affect in any way the right or power of the Company or its shareowners to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds, debentures, preferred or prior preference stock senior to or affecting the Shares or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business or any other corporate act or proceeding, whether of a similar character or otherwise.
|
17.
|
Interpretation by the Committee
. As a condition of the granting of the RSUs, the Employee agrees, for himself or herself and for his or her legal representatives or guardians, that this Agreement shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Agreement and any determination made by the Committee pursuant to this Agreement shall be final, binding and conclusive.
|
18.
|
Miscellaneous
.
|
(a)
|
This Agreement shall be governed and construed in accordance with the internal laws of the State of Wisconsin applicable to contracts made and to be performed therein between residents thereof. As a condition of the granting of the RSUs, the Employee irrevocably consents to the nonexclusive jurisdiction and venue of the state and federal courts located in the State of Wisconsin.
|
(b)
|
The Plan and this Agreement set forth the entire understanding between the Company and the Employee with respect to the subject matter hereof and shall supersede in all respects, and the Employee hereby waives all rights under, any prior or other agreement or understanding between the parties with respect to such subject matter, including, but not limited to, any Key Executive Employment and Severance Agreement. For the avoidance of doubt, the Plan and this Agreement shall control in the event there is any express conflict between the Plan and this Agreement and any prior or other agreement or understanding between the parties.
|
(c)
|
This Agreement may not be amended or modified except by the written consent of the parties hereto. Notwithstanding the foregoing, the Committee need not obtain Employee (or other interested party) consent for any such action: (i) to the extent the action is deemed necessary by the Committee to comply with any applicable law; (ii) to the extent the action is deemed necessary by the Committee to preserve favorable accounting or tax treatment for the Company of any Award; (iii) to the extent the Committee determines that such action does not materially and adversely affect the value of an Award or that such action is in the best interest of the affected Employee; or (iv) to the extent unilateral action by the Committee is permitted under Section 14(c) of the Plan.
|
(d)
|
The Award and any Shares or cash issued thereunder shall be subject to potential cancellation, rescission, payback, recoupment or other action in accordance with the terms of any Company clawback policy (the “
Clawback Policy
”), as then in effect and as it may be amended from time to time, to the extent the Clawback Policy applies to the Award and any Shares or cash issued thereunder (including a Clawback Policy implemented or amendments made thereto after the Grant Date for the Award). By accepting the Award, the Employee agrees to execute any additional documents as may be requested by the Company to effect the Company’s application, implementation and adoption of a Clawback Policy with respect to the Award and any Shares or cash issued thereunder.
|
(e)
|
The captions of this Agreement are inserted for convenience of reference only and shall not be taken into account in construing this Agreement.
|
1.
|
Award
. Subject to the terms of this Agreement and the Plan, the Employee is hereby granted
[Insert Number]
target PRSUs on the Grant Date. PRSUs granted under this Agreement are units that will be reflected in a book account maintained by the Company during the Performance Period set forth below, and that will be settled in Shares to the extent provided in this Agreement and the Plan.
|
2.
|
Performance Period; Performance Contingency
.
|
(a)
|
The “
Performance Period
” is the period beginning on ____________________, 20_____ and ending on ____________________, 20_____.
|
(b)
|
Except as otherwise provided in this Agreement (including Section 9 below), the PRSUs will become earned in accordance with the provisions of
Exhibit 1
, which is attached to and forms a part of this Agreement. Any unearned PRSUs automatically will terminate and be cancelled, without the payment of any consideration following the last day of the Performance Period. The term “
Performance Contingency
” will have the meaning assigned to such term in
Exhibit 1
.
|
3.
|
Settlement of Awards
. Subject to Section 9 below, the Company shall deliver to the Employee one Share for each PRSU earned by the Employee, as determined in accordance with
Exhibit 1
, except that cash shall be distributed in lieu of any fractional Share.
|
4.
|
Time of Payment
. Except as otherwise provided in this Agreement (including Section 9 below), payment of PRSUs earned in accordance with the provisions of Section 3 will be delivered as soon as practicable (but in any event within 75 days) following the last day of the Performance Period set forth in Section 2(a), subject to the Committee certifying in writing as to the satisfaction of the Performance Contingency.
|
5.
|
Retirement, Disability, or Death During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control because of the Employee’s Retirement (as defined below), Disability, or death, the Employee shall be entitled to the full value of the Award earned, determined at the end of the Performance Period, so long as the termination event occurs after the end of the first year of the Performance Period and only if and to the extent the Performance Contingency is met. If the termination event occurs during the first year of the Performance Period, the Employee will be entitled to a prorated value of the Award, earned in accordance with
Exhibit 1
, determined at the end of the Performance Period and only if and to the extent the Performance Contingency is met, based on a fraction, the numerator of which is the number of months the Employee was employed during the Performance Period and the denominator of which is 12.
|
6.
|
Involuntary Termination Without Cause During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control because of an Involuntary Termination without Cause (as defined below), the Employee shall be entitled to the prorated value of the Award earned, determined at the end of the Performance Period and only if and to the extent the Performance Contingency is met, based on a fraction, the numerator of which is the number of months the Employee was employed during the Performance Period and the denominator of which is 36.
|
7.
|
Other Terminations of Employment During Performance Period
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control for any reason other than the Employee’s Retirement, Disability, Involuntary Termination without Cause, or death, the PRSUs granted under this Agreement automatically will terminate and be cancelled on the date of such termination of employment.
|
8.
|
Dividend Equivalents
.
|
(a)
|
After the Performance Period has ended (or, if a Change in Control occurs during the Performance Period, the effective date of the Change in Control), dividend equivalents (“
Dividend Equivalents
”) will be calculated and credited to the account of the Employee with respect to the percentage of PRSUs that are earned (or payable in accordance with Section 9 in the event of a Change in Control). Dividend Equivalents will be credited as additional PRSUs, the number of which will be equal to the number of whole Shares that could be purchased with the amount of the Dividend Equivalents, based on the Fair Market Value of the Shares as of the dividend payment date and the number of earned PRSUs (or target PRSUs in accordance with Section 9 in the event of a Change in Control).
|
(b)
|
Any Dividend Equivalents credited to the Employee’s account pursuant to this Section 8 shall not be vested or paid until the dates of vesting or payment of the PRSUs with respect to which such Dividend Equivalents are credited, and such Dividend Equivalents shall be subject to the same restrictions and other terms and conditions as apply to the PRSUs with respect to which they were credited.
|
(c)
|
No Dividend Equivalents shall be credited to the Employee with respect to record dates occurring prior to the Grant Date or with respect to record dates occurring on or after the date, if any, on which the PRSUs are cancelled and terminated.
|
9.
|
Change in Control
.
|
(a)
|
No Termination of Employment Prior to a Change in Control
.
|
(i)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, if a Change in Control occurs during the Performance Period and the Employee’s employment does not terminate before the effectiveness of the Change in Control, then the Employee shall be entitled to the target PRSUs, which automatically will convert into a contractual right to receive a cash payment (the “
Cash Payment Right
”) in an amount equal to (i) the number of target PRSUs (including any additional PRSUs determined in accordance with Section 8(a)), multiplied by (ii) the per Share Fair Market Value as of the trading day immediately preceding the effective date of the Change in Control. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to a Cash Payment Right. Any portion of the PRSUs that is not converted into the Cash Payment Right automatically shall terminate and be cancelled immediately prior to the effectiveness of the Change in Control, without the payment of any consideration therefor.
|
(ii)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, the Cash Payment Right shall be paid as soon as practicable (but in any event within 75 days) after the last day of the Performance Period set forth in Section 2(a), provided that the Employee remains continuously employed by the Company or an Affiliate or any successor thereto through the last day of such Performance Period. Notwithstanding the immediately preceding sentence, in the event that the Employee experiences a termination of employment due to the Employee’s Retirement (as defined below), Disability, or death or an involuntary termination of employment by action of the Company (or its successor) (other than a termination due to Cause) or due to the Employee’s resignation for Good Reason prior to the last day of the Performance Period set forth in Section 2(a), the Cash Payment Right will be paid in accordance with the first sentence of this Section 9(a)(ii) as though the Employee remained continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Performance Period.
|
(b)
|
Certain Terminations of Employment Prior to a Change in Control
. Solely for purposes of Sections 5 and 6 of the Agreement, if the Employee’s employment terminates for any of the reasons set forth in such Sections 5 and 6 prior to a Change in Control and a Change in Control occurs during the Performance Period, then the Employee shall be entitled to the target PRSUs in lieu of any amount set forth in Section 5 or Section 6, as applicable, which PRSUs automatically shall convert into the Cash Payment Right. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to the Cash Payment Right. For the avoidance of doubt, the Cash Payment Right will be paid at such time provided under Section 4.
|
10.
|
Definitions
.
|
(a)
|
“
Involuntary Termination without Cause
” shall mean that the Employee experiences a termination of employment due to the Employee’s (i) receipt of a written notification that his or her position is being eliminated as a result of a structured job elimination program or (ii) resignation for a Pre-Change in Control Good Reason.
|
(b)
|
“
Pre-Change in Control Good Reason
” shall mean that an applicable event occurs and the Employee provides notice to the Company of the existence of the event within 90 days of the initial existence of the event, the Company fails to cure the event within 30 days of such notice and the Employee resigns within 30 days following the last day of such 30-day cure period. The applicable events are any one or more of the following: (i) a material diminution in the Employee’s base compensation and (ii) a material diminution in the Employee’s authority, duties, or responsibilities.
|
(c)
|
“
Retirement
” shall mean the Employee’s employment terminates (with the consent of the Company) after he or she has reached age 55 and the Employee’s age, in whole years, added to the number of whole years of the Employee’s continuous employment with the Company total 65 or more.
|
11.
|
Nontransferability of PRSUs
. The PRSUs shall not be assignable, alienable, saleable or transferable by the Employee other than by will or the laws of descent and distribution prior to settlement of the Awards pursuant to Section 3 (or, if applicable, Section 9);
provided
,
however
, that the Employee shall be entitled, in the manner provided in Section 13 hereof, to designate a beneficiary to receive any Shares or cash issuable with respect to the Award upon the death of the Employee.
|
12.
|
Tax Withholding
. The Company may deduct and withhold from any cash otherwise payable to the Employee such amount as may be required for the purpose of satisfying the Company’s obligation to withhold federal, state or local taxes. Further, in the event the amount so withheld is insufficient for such purpose, the Company may require that the Employee pay to the Company upon its demand or otherwise make arrangements satisfactory to the Company for payment of, such amount as may be requested by the Company in order to satisfy its obligation to withhold any such taxes.
|
13.
|
Designation of Beneficiary
. The Employee shall be permitted to designate one or more beneficiaries (each, a “
Beneficiary
”) on a Company-approved form who shall be entitled to payouts hereunder, to the extent payouts are made, after the death of the Employee. The terms and conditions of any such designation (including any changes thereto by the Employee) shall be subject to the terms and conditions of such Company-approved beneficiary designation form. If no such beneficiary designation is in effect at the time of the Employee’s death, or if no designated Beneficiary survives the Employee or if such designation conflicts with law, the Employee’s estate acting through his or her legal representative shall be entitled to receive payouts hereunder, to the extent they are made, after the death of the Employee. If the Committee is in doubt as to the right of any person to the PRSUs or any payout thereunder, the Company may refuse to settle such matter, without liability for any interest or dividends on the PRSUs, until the Committee determines the person entitled to the PRSUs or any payout thereunder, or the Company may apply to any court of appropriate jurisdiction and such application shall be a complete discharge of the liability of the Company therefor.
|
14.
|
Transfer Restriction
. Any Shares delivered pursuant to Section 3 hereof shall thereafter be freely transferable by the Employee, provided that the Employee agrees for himself or herself and his or her heirs, legatees and legal representatives, with respect to all Shares acquired pursuant to the terms and conditions of this Agreement (or any Shares issued pursuant to a stock dividend or stock split thereon or any securities issued in lieu thereof or in substitution or exchange therefor), that he or she and his or her heirs, legatees and legal representatives will not sell or otherwise dispose of such shares except pursuant to a registration statement filed by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “
Act
”), or except in a transaction which is determined by counsel to the Company to be exempt from registration under the Act and any applicable state securities laws; and to execute and deliver to the Company such investment representations and warranties, and to take such other actions, as counsel for the Company determines may be necessary or appropriate for compliance with the Act and any other applicable securities laws. The Employee agrees that any certificates representing any of the Shares acquired pursuant to the terms and conditions of this Agreement may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws.
|
15.
|
Status of Employee
. The Employee shall not be deemed for any purposes to be a shareowner of the Company with respect to any of the PRSUs except to the extent that the Company has delivered Shares pursuant to Section 3 hereof. Therefore, the Employee will not have the right of shareowners to vote or, subject to Section 8, to receive dividends or distributions of any kind prior to the Company delivering Shares pursuant to Section 3 hereof. Neither the Plan nor the PRSUs shall confer upon the Employee any right to continue as an employee of the Company or any of its Affiliates, nor to interfere in any way with the right of the Company to terminate the employment or directorship of the Employee at any time.
|
16.
|
Powers of the Company Not Affected
. The existence of the PRSUs shall not affect in any way the right or power of the Company or its shareowners to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds, debentures, preferred or prior preference stock senior to or affecting the Shares or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business or any other corporate act or proceeding, whether of a similar character or otherwise.
|
17.
|
Interpretation by the Committee
. As a condition of the granting of the PRSUs, the Employee agrees, for himself or herself and for his or her legal representatives or guardians, that this Agreement shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Agreement and any determination made by the Committee pursuant to this Agreement shall be final, binding and conclusive.
|
18.
|
Miscellaneous
.
|
(a)
|
This Agreement shall be governed and construed in accordance with the internal laws of the State of Wisconsin applicable to contracts made and to be performed therein between residents thereof. As a condition of the granting of the PRSUs, the Employee irrevocably consents to the nonexclusive jurisdiction and venue of the state and federal courts located in the State of Wisconsin.
|
(b)
|
The Plan and this Agreement set forth the entire understanding between the Company and the Employee with respect to the subject matter hereof and shall supersede in all respects, and the Employee hereby waives all rights under, any prior or other agreement or understanding between the parties with respect to such subject matter, including, but not limited to, any Key Executive Employment and Severance Agreement. For the avoidance of doubt, the Plan and this Agreement shall control in the event there is any express conflict between the Plan and this Agreement and any prior or other agreement or understanding between the parties.
|
(c)
|
This Agreement may not be amended or modified except by the written consent of the parties hereto. Notwithstanding the foregoing, the Committee need not obtain Employee (or other interested party) consent for any such action: (i) to the extent the action is deemed necessary by the Committee to comply with any applicable law; (ii) to the extent the action is deemed necessary by the Committee to preserve favorable accounting or tax treatment for the Company of any Award; (iii) to the extent the Committee determines that such action does not materially and adversely affect the value of an Award or that such action is in the best interest of the affected Employee; or (iv) to the extent unilateral action by the Committee is permitted under Section 14(c) of the Plan.
|
(d)
|
The Award and any Shares or cash issued thereunder shall be subject to potential cancellation, rescission, payback, recoupment or other action in accordance with the terms of any Company clawback policy (the “
Clawback Policy
”), as then in effect and as it may be amended from time to time, to the extent the Clawback Policy applies to the Award and any Shares or cash issued thereunder (including a Clawback Policy implemented or amendments made thereto after the Grant Date for the Award). By accepting the PRSUs, the Employee agrees to execute any additional documents as may be requested by the Company to effect the Company’s application, implementation and adoption of a Clawback Policy with respect to the Award and any Shares or cash issued thereunder.
|
(e)
|
The captions of this Agreement are inserted for convenience of reference only and shall not be taken into account in construing this Agreement.
|
[Employee]
|
[Year]
|
Grant Date
|
[Month] [Day], [Year]
|
Grant Date Fair Market Value
|
$________________
|
PRSUs (Target)
|
[Number of Shares]
|
Performance Period
|
__________, 20__ through __________, 20__
|
1.
|
Employee of one of the following entities:
|
a.
|
Interstate Power and Light Company (IPL); or
|
b.
|
Wisconsin Power and Light Company (WPL); or
|
c.
|
Alliant Energy Corporate Services, Inc. (ServCo)
|
2.
|
Employee’s hire date is prior to October 1 of the Plan Year
|
3.
|
Employee is not represented by a bargaining unit entity on the last day of the Plan Year
|
4.
|
Employee is classified in a salary grade of E03 through E10, or EXE
|
5.
|
Employee status on the last day of the Plan Year is:
|
a.
|
active full time or part time; or
|
b.
|
terminated with the reason of “Retirement”, the retirement occurred during the Plan Year, and the employee satisfies the definition of “Retirement Eligible” on or before the date of termination; or
|
c.
|
terminated with the reason of “Elimination of Position” (involuntary termination without cause) and the termination occurred between October 1 and December 31 of the Plan Year; or
|
d.
|
terminated with the reason of “Elimination of Position” or “Voluntary Termination” and the employee satisfies the definition of “Retirement Eligible” on or before the date of termination; or
|
e.
|
terminated due to participant death
|
6.
|
Employee is in general good standing with the Company
|
1.
|
Consolidated Earnings Per Share (“EPS”) from Continuing Operations
|
2.
|
Diversity
|
3.
|
Safety
|
4.
|
Customer Satisfaction
|
5.
|
Environmental
|
6.
|
Reliability
|
1.
|
confer upon any employee any right with respect to continuation of employment with the Company;
|
2.
|
interfere in any way with the right of the Company to terminate his or her employment at any time; or
|
3.
|
confer upon any employee or any other person any claim or right to any distribution under the EXPP Plan except in accordance with its terms.
|
•
|
$10,000 for the Chairperson of each of the Nominating and Governance Committee, and the Safety, Environmental, Policy and Operations Committee of the Board.
|
|
Year Ended December 31,
|
||||||||||||||
|
2015
|
2014
|
2013
|
2012
|
2011
|
||||||||||
|
(dollars in millions)
|
||||||||||||||
EARNINGS:
|
|
|
|
|
|
||||||||||
Net income from continuing operations attributable to Alliant Energy Corporation common shareowners
|
|
$380.7
|
|
|
$385.5
|
|
|
$364.2
|
|
|
$324.9
|
|
|
$323.1
|
|
Income taxes (a)
|
70.4
|
|
44.3
|
|
53.9
|
|
89.4
|
|
69.2
|
|
|||||
Subtotal
|
451.1
|
|
429.8
|
|
418.1
|
|
414.3
|
|
392.3
|
|
|||||
Fixed charges as defined
|
202.3
|
|
195.7
|
|
189.0
|
|
208.0
|
|
208.4
|
|
|||||
Adjustment for undistributed equity earnings
|
(3.2
|
)
|
(4.0
|
)
|
(8.3
|
)
|
(7.1
|
)
|
(7.0
|
)
|
|||||
Less:
|
|
|
|
|
|
||||||||||
Interest capitalized
|
1.3
|
|
1.0
|
|
0.5
|
|
6.1
|
|
2.7
|
|
|||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b)
|
12.0
|
|
11.3
|
|
13.0
|
|
20.1
|
|
22.0
|
|
|||||
Total earnings as defined
|
|
$636.9
|
|
|
$609.2
|
|
|
$585.3
|
|
|
$589.0
|
|
|
$569.0
|
|
|
|
|
|
|
|
||||||||||
FIXED CHARGES:
|
|
|
|
|
|
||||||||||
Interest expense
|
|
$187.1
|
|
|
$180.6
|
|
|
$172.8
|
|
|
$156.7
|
|
|
$158.3
|
|
Interest capitalized
|
1.3
|
|
1.0
|
|
0.5
|
|
6.1
|
|
2.7
|
|
|||||
Estimated interest component of rent expense
|
1.9
|
|
2.8
|
|
2.7
|
|
25.1
|
|
25.4
|
|
|||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b)
|
12.0
|
|
11.3
|
|
13.0
|
|
20.1
|
|
22.0
|
|
|||||
Total fixed charges as defined
|
|
$202.3
|
|
|
$195.7
|
|
|
$189.0
|
|
|
$208.0
|
|
|
$208.4
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Fixed Charges (c)
|
3.15
|
|
3.11
|
3.10
|
2.83
|
2.73
|
|
Year Ended December 31,
|
||||||||||||||
|
2015
|
2014
|
2013
|
2012
|
2011
|
||||||||||
|
(dollars in millions)
|
||||||||||||||
EARNINGS:
|
|
|
|
|
|
||||||||||
Net income
|
|
$196.2
|
|
|
$191.8
|
|
|
$188.3
|
|
|
$158.3
|
|
|
$139.3
|
|
Income tax benefit (a)
|
(22.7
|
)
|
(48.9
|
)
|
(36.3
|
)
|
(27.9
|
)
|
(3.6
|
)
|
|||||
Income before income taxes
|
173.5
|
|
142.9
|
|
152.0
|
|
130.4
|
|
135.7
|
|
|||||
Fixed charges as defined
|
97.2
|
|
91.0
|
|
82.3
|
|
79.3
|
|
79.6
|
|
|||||
Total earnings as defined
|
|
$270.7
|
|
|
$233.9
|
|
|
$234.3
|
|
|
$209.7
|
|
|
$215.3
|
|
|
|
|
|
|
|
||||||||||
FIXED CHARGES:
|
|
|
|
|
|
||||||||||
Interest expense
|
|
$96.8
|
|
|
$89.9
|
|
|
$81.3
|
|
|
$78.5
|
|
|
$78.7
|
|
Estimated interest component of rent expense
|
0.4
|
|
1.1
|
|
1.0
|
|
0.8
|
|
0.9
|
|
|||||
Total fixed charges as defined
|
|
$97.2
|
|
|
$91.0
|
|
|
$82.3
|
|
|
$79.3
|
|
|
$79.6
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Fixed Charges
|
2.78
|
|
2.57
|
|
2.85
|
|
2.64
|
|
2.70
|
|
|||||
|
|
|
|
|
|
||||||||||
Preferred dividend requirements (pre-tax basis) (b)
|
|
$9.0
|
|
|
$7.6
|
|
|
$8.7
|
|
|
$10.4
|
|
|
$14.6
|
|
|
|
|
|
|
|
||||||||||
Fixed charges and preferred dividend requirements
|
|
$106.2
|
|
|
$98.6
|
|
|
$91.0
|
|
|
$89.7
|
|
|
$94.2
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements
|
2.55
|
|
2.37
|
|
2.57
|
|
2.34
|
|
2.29
|
|
|
Year ended December 31,
|
||||||||||||||
|
2015
|
2014
|
2013
|
2012
|
2011
|
||||||||||
|
(dollars in millions)
|
||||||||||||||
EARNINGS:
|
|
|
|
|
|
||||||||||
Net income
|
|
$177.6
|
|
|
$181.1
|
|
|
$179.1
|
|
|
$172.7
|
|
|
$163.5
|
|
Income taxes (a)
|
82.9
|
|
85.3
|
|
85.6
|
|
87.6
|
|
81.9
|
|
|||||
Income before income taxes
|
260.5
|
|
266.4
|
|
264.7
|
|
260.3
|
|
245.4
|
|
|||||
Fixed charges as defined
|
93.7
|
|
87.7
|
|
86.4
|
|
103.9
|
|
103.3
|
|
|||||
Adjustment for undistributed equity earnings
|
(4.5
|
)
|
(6.4
|
)
|
(8.3
|
)
|
(7.9
|
)
|
(6.4
|
)
|
|||||
Total earnings as defined
|
|
$349.7
|
|
|
$347.7
|
|
|
$342.8
|
|
|
$356.3
|
|
|
$342.3
|
|
|
|
|
|
|
|
||||||||||
FIXED CHARGES:
|
|
|
|
|
|
||||||||||
Interest expense
|
|
$92.4
|
|
|
$86.4
|
|
|
$85.0
|
|
|
$80.2
|
|
|
$79.9
|
|
Estimated interest component of rent expense
|
1.3
|
|
1.3
|
|
1.4
|
|
23.7
|
|
23.4
|
|
|||||
Total fixed charges as defined
|
|
$93.7
|
|
|
$87.7
|
|
|
$86.4
|
|
|
$103.9
|
|
|
$103.3
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Fixed Charges
|
3.73
|
|
3.96
|
|
3.97
|
|
3.43
|
|
3.31
|
|
Name of Subsidiary
|
State of Incorporation
|
|
|
Interstate Power and Light Company
|
Iowa
|
|
|
Wisconsin Power and Light Company
|
Wisconsin
|
Name of Subsidiary
|
State of Incorporation
|
|
|
WPL Transco LLC
|
Wisconsin
|
|
|
American Transmission Company LLC
|
Wisconsin
|
1.
|
I have reviewed this annual report on Form 10-K 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 annual report on Form 10-K 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 annual report on Form 10-K 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 annual report on Form 10-K 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 annual report on Form 10-K 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 annual report on Form 10-K 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/ Thomas L. Hanson
|
Thomas L. Hanson
|
Senior Vice President and Chief Financial Officer
|
/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
|